Day: May 6, 2023

President Ferdinand R. Marcos Jr. on Saturday expressed confidence that his administration is ‘one step closer’ to attaining its goal of providing ‘safe, efficient, and sustainable’ airport services in the Philippines. Marcos made the remark after his meeting with officials of New York-based Global Infrastructure Partners (GIP), one of the world’s largest infrastructure investors, in London. ‘Our vision for safe, efficient, and sustainable airports in the Philippines is one step closer to reality,’ he said in a Facebook post. Marcos had the chance to have a tour of London Gatwick Airport, which is co-managed by GIP. His meeting with GIP executives enabled the President to get an idea of how to fulfill his bid for ‘world-class’ Philippine airports. ‘This learning experience has provided us with valuable insights as to how we can develop the truly world-class airports we aspire to build in the Philippines,’ the Chief Executive said. ‘We had a productive meeting with Global Infrastructure Partners, the company behind Gatwick Airport’s exceptional infrastructure, technology, and operations, and were given a tour to explore some of their best practices firsthand.’ The GIP, founded in 2006, is a leading global independent infrastructure fund that administers USD87 billion in assets on behalf of its investor base. It seeks to invest in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment, and waste management. As the largest owner of private airports, the GIP has particularly cemented its position as the leading British airport operator transforming London’s City and Gatwick airports and Scotland’s Edinburgh airport into highly profitable and comfortable terminals. The Office of the President, in a separate Facebook post, said the GIP has expressed its commitment to invest in the Philippines to improve its transportation system efficacy, increase renewable energy production, and advance digital transformation. Marcos has pledged to improve the operations of the country’s major airports, including the Ninoy Aquino International Airport in Pasay City, to ensure ease of travel and strengthen the country’s tourism sector. He made the vow, as he acknowledged certain challenges at the country’s major airports, such as space limitations and insufficient technology in processing travel documents. Marcos already ordered the creation of a team that would lead government efforts to improve Manila’s airport services.

Source: Philippines News Agency

The League of Provinces of the Philippines on Saturday released a resolution honoring the late Nueva Vizcaya Governor Carlos Padilla and giving heartfelt condolences to those he left behind. ‘Now, therefore, the League of Provinces of the Philippines, in appreciation of his indefatigable service to our people, expresses its eternal gratitude to a colleague and mentor, Gov. Carlos M. Padilla,” read the League’s General Assembly Resolution 2023-013. Meanwhile, Vice Governor Jose ‘Jing’ Gambito, 69, was officially sworn into office as governor at the provincial capitol in Bayombong town late afternoon Friday. First-ranked Board Member Eufemia Dacayo also took oath for the vice gubernatorial post while it has yet to be decided who would fill up the vacant board member post. In Manila, House of Representatives Speaker Ferdinand Martin G. Romualdez and Deputy Speaker Camille Villar on Saturday offered their condolences to Padilla’s family and constituents. through a statement. Romualdez said Padilla would always be remembered as a great leader of his province and a humble colleague in the House. ‘We deeply mourn the passing of a dedicated and inspiring leader in Governor Padilla, who demonstrated unwavering commitment to promote the welfare of his countrymen,’ Villar said

Source: Philippines News Agency

About 4.3 million people in northeast Nigeria are projected to face severe hunger between June and August, the United Nations (UN) warned on Friday. Jens Laerke, the spokesman for the UN Office for the Coordination of Humanitarian Affairs (OCHA), told a UN weekly press briefing that the period between harvests, where people typically struggle to meet their food needs, is set to begin next month and OCHA is “raising the alarm of widespread hunger and child malnutrition in the conflict-affected states of Borno, Adamawa, and Yobe.” Laerke said their analysis shows that almost 600,000 people of 4.3 million are facing emergency levels of food shortage. An estimated 2 million children under five in the three states are facing wasting, he said, adding that about 700,000 of them are at risk of severe wasting. They are “11 times more likely to die compared to well-nourished children” and “need immediate interventions,” he said. The World Food Program, he said, is increasing its efforts to give emergency food and nutrition aid to 2.1 million people, while UNICEF provides therapeutic treatment to acutely malnourished children. “However, the message from our colleagues in Nigeria is clear: we must further scale up interventions, including food, therapeutic food, and livelihood assistance.” Laerke warned that the situation for millions of people could turn “catastrophic,” as he drew attention to the lack of funding as only 11 percent of the USD1.3 billion needed for the northeast in 2023 has been met. “The longer families go unassisted, the greater the risk of starvation and death, and more people may be forced into damaging and harmful coping strategies, such as survival sex, selling their possessions, and child labor,” he said.

Source: Philippines News Agency

Hot temperatures and windy conditions have fed 78 wildfires and as of Friday, forced the evacuation of more than 13,000 residents in the province of Alberta, according to officials. And the news could get worse as the province is a tinderbox, said Alberta Wildfire Information manager Christie Tucker. “We’re expecting very warm weather and extremely strong winds, particularly in the northern half of the province,” Tucker said at a news conference. “This is not great for wildfire activity that tends to cause very active wildfires and our folks on the ground are going to have to be very careful about their own safety and of course the safety of the communities that they’re protecting.” About 80 firefighters are scheduled to arrive Saturday from Ontario and Quebec to help combat the fires, 19 of which are out of control. The federal government said it is prepared to offer support if asked. ‘While we have not received a request for federal assistance from the Government of Alberta, we stand ready to support them if federal aid or resources are required,’ the office of Safety Minister Bill Blair told Global News in a statement. To date, there have been no reports of fatalities.

Source: Philippines News Agency

Jackie Buntan added Diandra Martin to her growing list of ‘victims’ after the former scored a huge knockout at ONE on Prime Video 10 at the 1stBank Center in Broomfield, Colorado on Saturday (Manila time). The Filipino-American, who was superb all match long, connected on a right hook that sent the Australian down the floor. Although Martin made the 10-count, she was already bloodied inside her nose, and referee Justin Brown had seen enough and called it a technical knockout for Buntan at the 2:34 mark of Round 1. Buntan now has won back-to-back fights after her first pro loss against Smilla Sunden and is now at 5-1 overall, while Martin dropped to 1-2 as a ONE Championship fighter. In an interview with commentator Mitch Chilson, Buntan, while aware that she is in line for a rematch against Sunden for the ONE strawweight muay thai title, said she wants a shot at the vacant ONE strawweight kickboxing title. Meanwhile, Filipino-Australian fighter Reece McLaren fell prey to Kazakhstan’s Kairat Akhmetov in a battle of flyweight mixed martial arts contenders. Akhmetov’s brilliance in the ground game early on set the tone for him even as he showed his striking power too in Round 3 to seal the win against McLaren. The Kazakhstan fighter slowed McLaren down in the first two rounds with five takedowns as the latter, known for his well-roundedness, struggled to bounce back. Akhmetov then connected on crucial strikes in the final round, including a high kick to McLaren’s head, to complete the dominating job. All three judges agreed that Akhmetov, the number two-ranked contender, got the better of McLaren, ranked fourth, as the former, now at 27-2, could very well be in line for a future title shot against the winner of the Demetrious Johnson-Adriano Moraes showdown for the ONE flyweight title. The Johnson-Moraes clash, the third installment of their rivalry, is ongoing as of posting time. McLaren, on the other hand, fell to 16-9 as his own road to the world title hit a snag.

Source: Philippines News Agency

An economist has forecast a rise in the country’s gross international reserves (GIR) in the coming months despite the drop to USD101.51 billion as of the end of April. In a report released on Saturday, Rizal Commercial Banking Corp. chief economist Michael Ricafort noted that while the foreign reserves went down from the end-March level of USD101.55 billion, it remains to be equivalent to 7.6 months of imports, just like in the previous month, which is way higher than the international threshold of three to four months cover. “For the coming months, the country’s GIR could still be supported by the continued growth in the country’s structural inflows from OFW (Overseas Filipino Workers) remittances, BPO (business process outsourcing) revenues, exports (though offset by imports), relatively fast recovery in foreign tourism revenues (resumed since Feb. 10, 2022; group tours from China resumed since the latter part of January 2023), as well as continued foreign investment/FDI inflows among pre-pandemic highs,” he said. The BSP, in a press release Friday night, attributed the drop in the GIR to payments made by the national government for its foreign currency-denominated debt. Ricafort added that because the GIR level remains high, it “could still provide greater buffer/support/cushion on the peso exchange rate vs. any speculative attack.” He said the current level of the country’s foreign reserves is “still relatively high” and “could still strengthen the country’s external position, which is a key pillar for the country’s continued favorable credit ratings.” The country’s credit ratings have been affirmed several times by Fitch Ratings, Moody’s Investors Service, and S and P and were even upgraded to A-level investment grade by the Japan Credit Rating Agency even during the pandemic, which authorities and analysts said are good developments. Ricafort said these affirmations of the credit ratings are “sign(s) of resilience despite the Covid-19 pandemic that caused downgrades in other countries around the world.” “These reflect the Philippines’ improved economic and credit fundamentals, as well as improvements in fiscal performance in recent years that could help attract more/bigger roster of international investments and international credit/loans at much lower cost and with better terms into the country, in view of the need to finance various Covid-19 programs and other economic stimulus measures needed to help sustained the economic recovery, thereby could also further help boost the country’s GIR, going forward,” he added.

Source: Philippines News Agency