Day: April 8, 2024

LEGAZPI CITY: The Police Regional Office in Bicol (PRO5) awarded on Monday five police officers with “Medalya ng Kagalingan” (PNP Merit Medal) and “Medalya ng Papuri” (PNP Commendation Medal) for their different accomplishments.

In a report, Lt. Col. Malu Calubaquib, PRO5 spokesperson, said the awarding was conducted after the flag-raising ceremony at the PRO5 regional headquarters in Camp Simeon Ola, this city.

The Medalya ng Kagalingan was awarded to Cpt. Edwin Dela Fuente and Pat. Joseph Estinor for the arrest of the No. 5 regional most wanted person charged with murder, and MSg. Jasmin Bobile and SSg. Perez Boncodin for successfully apprehending the No. 4 most wanted person, accused of rape.

On the other hand, Cpl. Mervin Bellen was awarded the Medalya ng Papuri for his exemplary assistance to a woman giving birth.

In his message at the awarding, Brig. Gen. Andre Dizon, PRO5 regional director, told the police personnel that irrespective of their roles or duties, they must consistently prioritize exemp
lary client service, characterized by unwavering courtesy and professionalism.

Meanwhile, in Camarines Norte, police operatives seized PHP1.5 million worth of shabu and arrested a high-value individual in a buy-bust operation in Camarines Norte on Monday.

“The suspect, a high-value individual known as ‘Say’, was arrested in Labo town in Camarines Norte. The operation resulted in the confiscation of 225 grams of shabu worth an estimated PHP1,530,000,” the report read.

“Cases are currently being processed against her for violating the Comprehensive Dangerous Drugs Act of 2002 (Republic Act 9165),” Calubaquib said.

Source: Philippines News Agency

MANILA: President Ferdinand R. Marcos Jr. and National Historical Commission of the Philippines (NHCP) Chairperson Lisa Guerrero-Nakpil will lead the 82nd Araw ng Kagitingan (Day of Valor) commemoration in Pilar, Bataan on Tuesday morning.

Arrival honors will be facilitated by the Armed Forces of the Philippines, followed by the national anthems of the Republic of the Philippines, United States of America, and Japan, according to an NHCP news release on Monday.

The celebration will carry the theme ‘Pagpaparangal sa Kagitingan ng mga Beterano: Saligan para sa Nagkakaisang Pilipino’ (Honoring the Valor of Veterans: Foundation of United Filipinos).

The Dambana ng Kagitingan (Shrine of Valor) is the country’s altar of heroism where tributes are made to Filipino and American veterans of World War II, a symbol of the depth of their sacrifices.

The Araw ng Kagitingan, on the other hand, serves as the venue for the President to address the veterans and their families and reaffirm the State’s commitment to care fo
r them by announcing good news about their benefits and privileges.

It also recalls the 1942 Fall of Bataan when Filipino and American forces surrendered to the Japanese after resisting for months with limited weapons, ammunition, and supplies.

The wreath-laying ceremony will be led by Marcos, followed by Deputy Chief of Mission Robert Ewing from the Embassy of the United States of America and Japanese Ambassador Endo Kazuya.

Rev. Fr. Josue Enero, vice general of the Roman Catholic Diocese of Balanga and parish priest of St. Catherine of Siena Parish in Balanga, will lead the invocation.

The tolling of the bells will be done by veteran Felicisima Pajarin dela Cruz, assisted by Yeshua Brylen Flores of Luakan National High School in Dinalupihan.

Bataan Governor Jose Enrique Garcia III and Nakpil will also deliver messages.

Department of National Defense Secretary Gilberto Teodoro Jr. will introduce the guest of honor while a speech by the President will conclude the program.

The NHCP is the national gove
rnment agency mandated to promote Philippine history through its museums, research, and publications, and to preserve historical heritage through conservation and the marking of historic sites and structures.

Source: Philippines News Agency

MANILA: President Ferdinand R. Marcos Jr. distributed on Monday 4,724 Certificates of Land Ownership Award (CLOA) and electronic titles (e-titles) to 2,797 agrarian reform beneficiaries in Negros Occidental.

During the turnover ceremony at the Manuel Y. Torres Memorial Coliseum and Cultural Center in Bago City, Marcos also distributed PHP69.17 million worth of assistance, including organic fertilizer, farm machinery and equipment, Tulay ng Pangulo para sa Kaunlarang Pang-Agraryo, and farm-to-market roads to 1,830 beneficiaries in the province.

Marcos has committed to finish the distribution of land titles to all beneficiaries of the agrarian reform program under his term.

In his speech, the President assured the agrarian reform beneficiaries of continued government support to boost their agricultural productivity.

‘Makaasa kayo na kabalikat ninyo ako at ang buong pamahalaan sa lahat ng inyong pagsisikap. Nawa’y samahan ninyo ako sa pagsasakatuparan ng isang Bagong Pilipinas – isang bansang walang naguguto
m at ang lahat ay kumikilos para sa kapakanan ng lahat (You can count on me and the entire government to support you in all your endeavors. May you join me in realizing a New Philippines – a country where no one goes hungry and everyone works for the good of all),’ he said.

Marcos signed in July last year the New Agrarian Emancipation Act, which benefits more than 610,054 Filipino farmers by making them debt-free from PHP57.65 billion of agrarian arrears.

The President said those who received their land titles before July 24 last year are already free of debt from the Land Bank of the Philippines.

Source: Philippines News Agency

ILOILO CITY: Additional capacity from renewable energy (RE) power plants is augmenting the country’s supply to meet rising needs.

During the recent Philippine Electric Power Industry Forum 2024 at the Iloilo Convention Center, Aboitiz Renewables Inc. president Jimmy Villaroman said they are supporting energy transition with RE projects in the pipeline.

‘Our initial expansion phase focuses on developing mostly solar and wind plants with up to 1,200 MW (megawatts) capacity. Currently, we are on track for 176 MW of RE projects to come online by the first half of 2024, with construction ongoing for an additional 218 MW,’ Villaroman said in an interview over the weekend.

He added that the second phase of Aboitiz Power Corp.’s expansion will be an additional capacity of 1,700 MW of solar and wind power.

Villaroman said AboitizPower backs the government’s energy transition by building a total of 4,600 MW of renewables capacity by 2030.

Until 2040, peak electricity demand is projected to increase yearly by 6.6 p
ercent. In the same year, the government targets RE share to energy mix to be at 50 percent.

‘Unlike some developed nations, our transition in the Philippines, as in the rest of Asia and the Pacific, must be gradual and intelligent. It has to be well-planned; uniquely suited to each country,’ Villaroman said.

He said the solutions they devise cannot happen overnight ‘and might take years, if not decades, to realize.’

While transitioning to clean energy, Villaroman noted that leveraging the existing and conventional baseload plants will help in energy security in the medium term to support the government’s economic growth target.

He also commended the government by introducing policies that will boost the RE sector.

‘The introduction of the Renewable Energy Act and the Green Energy Auction Program have spurred the development of clean energy sources, fostering a more diverse and secure energy mix,’ he said.

Source: Philippines News Agency

MANILA: The Philippines is projected to grow by over 6 percent this year and in 2025, making the country one of the fastest growing economies in the region, the ASEAN+3 Macroeconomic Research Office (AMRO) said.

In its ASEAN+3 Regional Economic Outlook 2024 report released on Monday, AMRO retained its 2024 Philippine economic growth forecast to 6.3 percent.

“I think 6.3% is a very strong growth, among the highest in the region,” AMRO chief economist Hoe Ee Khor said in a virtual briefing. ‘The Philippines will also benefit from the upswing in terms of the external demand.’

Khor said the growth in the manufacturing sector and the recovery in tourism will also boost economic growth.

For 2025, AMRO expects Philippine economic growth to accelerate to 6.5 percent.

AMRO’s report, however, noted that the Philippine economic outlook “is clouded by various risk factors and challenges.”

“In the near term, growth prospects are relatively robust, but high inflation is a risk, especially as a result of local supply
shocks in the food sector and the impacts of geopolitical conflicts on international energy prices,” AMRO said.

AMRO said these will exert upward pressure on inflation which can dampen domestic demand.

Inflation is projected to settle at 3.6 percent for this year and decelerate to 2.9 percent in 2025.

According to AMRO, other risks to growth include an economic slowdown in major trading partners, volatility in the global financial market, and tighter financial conditions that may increase funding costs.

“Looking at the longer term, growth potential will largely hinge on the economic scarring effects of the pandemic, the pace of infrastructure development, and heightened geopolitical tensions between China and the United States,” the report said.

AMRO said the Philippines should also have a comprehensive strategy to foster resilient, sustainable, and inclusive long-term growth as the country remains one of the most disaster-prone countries in the world.

Source: Philippines News Agency

MANILA: Security Bank Corporation and Mitsubishi Motors Corporation agreed to a joint venture agreement that will establish Mitsubishi Motors Finance Philippines Inc. and offer financing services to Mitsubishi Motors’ customers in the Philippines.

In a disclosure to the stock exchange on Monday, Security Bank said the new company is expected to start operations in 2025 with Mitsubishi Motors holding 51 percent ownership stake in the new company and Security Bank holding 49 percent.

The completion of the transaction will be subject to regulatory approvals.

“This joint venture is in line with Security Bank’s commitment to provide superior customer experiences,’ Security Bank president and chief executive officer Sanjiv Vohra said.

‘By combining the strengths of both Mitsubishi Motors and Security Bank through this new company, we are in the best position to offer enhanced auto financing services to match our customers’ needs. This means more attractive promos, competitive financing packages, and fast decisi
oning. Thus, we deliver better value to customers,’ Vohra added.

Mitsubishi Motors executive vice president Tatsuo Nakamura, meanwhile, said through the partnership, they are hoping to provide their vehicles to more customers.

“Also, we will continue to make efforts to satisfy customers more through our products and services,’ Nakamura said.

Source: Philippines News Agency