Category: General

MANILA – The Philippine Stock Exchange index (PSEi) continued to recover, while the peso also closed stronger than the dollar on the first trading day of the week. The PSEi closed 0.40 percent higher to 7,343.24 while All Shares also climbed 0.47 percent to 4,036.20. All Sectors closed in the positive territory, led by Mining and Oil which went up by 0.90 percent. “Philippine shares made another recover after falling in the red intraday as more earnings continue to trickle in, while investors get ready for another trading week ahead,” Regina Capital Development Corp. head of sales Luis Limlingan said

MANILA – Tourists stranded in Batanes due to Severe Tropical Storm Kristine (international name Trami) are now down to 103 from 140 after 37 passengers were accommodated in two flights on Sunday. In a report on Monday, the Department of Tourism (DOT) said the remaining 103 stranded individuals are all in Basco and are expected to fly out of the island as soon as airline seats become available. ‘All other stranded tourists from previously reported areas all over the country were able to travel onwards to their respective destinations,’ the DOT said. Regular transportation and travel schedules are expected to

MANILA – Senator Imee Marcos reiterated on Monday her call to create a National Resiliency and Disaster Management Authority (NRDMA), which will focus on ‘preparing, giving warnings, responding to and helping communities after calamities.’ In a news release, Marcos highlighted the need for a centralized authority to address vulnerabilities and improve coordination, particularly in frequently affected areas like the Bicol region. ‘Bicol faces the Pacific, has an active volcano, and is subject to numerous accompanying threats. Why hasn’t a synchronized national response been established?’ Marcos said. ‘If we have a centralized authority for disaster management, we would be able to

MANILA – The United States Department is providing PHP450 million (USD8 million) in new funding to support the Philippine Coast Guard (PCG). The funds will aid in modernizing the PCG infrastructure enhancement, training program development, resource acquisition and management planning. The funding was announced during a third Maritime Dialogue on Oct. 24 where the Philippines and the US discussed shared commitment to strengthening compliance with international law, as reflected in the 1982 United Nations Convention on the Law of the Sea. The dialogue also addressed climate change impacts, illegal fishing and the importance of continued coordination on maritime law enforcement.

MANILA – Oil firms will increase pump prices starting Tuesday. In separate advisories on Monday, Seaoil, Caltex, and Shell will raise diesel and kerosene prices by PHP0.50 per liter. They will also increase gasoline prices by PHP0.20 per liter. Petro Gazz and Cleanfuel will also raise diesel prices by PHP0.50 per liter and gasoline by PHP0.20 per liter. Last week, oil firms slashed gasoline prices by 50 centavos per liter, diesel by 70 centavos per liter, and kerosene by 85 centavos per liter. Latest data from the Department of Energy showed that as of Oct. 15 this year, oil companies