Day: April 11, 2024

MANILA: Some 25,904 household beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) nationwide have graduated from the program in the first quarter of the year after achieving self-sufficiency status, the Department of Social Welfare and Development (DSWD) said on Thursday.

The 4Ps graduates were recognized during the ‘Pugay Tagumpay’ graduation and exit ceremonies by the different DSWD Field Offices in partnership with the local government units (LGUs).

Assistant Secretary for Disaster Response Management Group Irene Dumlao said the 4Ps Pugay Tagumpay graduation and exit ceremony is a celebration of the beneficiaries’ milestone and highlights ‘the significant achievement that reflects the dedication and hard work of both the beneficiaries and the program implementers.’

Dumlao said the Pugay Tagumpay is a commendation to the beneficiaries whose lives have improved through the program, and with the assistance of partner stakeholders.

‘The graduation of these households signifies not only achieving
economic stability but also empowering households with newfound competency to cope with challenges and to contribute to the development of their respective communities,’ Dumlao said in a news release.

She added that the 4Ps beneficiaries become active partners in connecting the government’s programs and services to other vulnerable and underprivileged families.

Households who were assessed to have achieved self-sufficiency and those who have volunteered to exit from the program are officially endorsed to their respective LGUs either for further interventions to sustain their level of well-being or for aftercare monitoring.

‘Through initiatives like this, beneficiaries would be equipped with essential skills, knowledge, and resources to pursue sustainable livelihoods and build brighter futures for themselves and their families,’ Dumlao said.

She said the DSWD remains committed to supporting the 4Ps graduates as they continue their journey toward greater economic independence.

‘By investing in human capita
l and providing vulnerable families with the tools they need to succeed, the program has made significant steps in reducing poverty and improving the well-being of Filipinos,’ Dumlao said.

The 4Ps is the Philippine government’s flagship program for poverty alleviation that enhances the lives of Filipinos through investment in children’s education, nutrition, and health.

Source: Philippines News Agency

Hanoi: More than 746 tonnes of rice from the national reserve will be allocated to the two northern mountainous provinces of Dien Bien and Bac Kan to support local people during the between-crop period in 2024.

Under Decision No.297/QD-TTg recently signed by Deputy Prime Minister Le Minh Khai, Bac Kan province will get over 72 tonnes and Dien Bien 674 tonnes.

The Deputy Prime Minister asked the Ministries of Finance, and the Ministry of Labour, Invalids and Social Affairs to take prime responsibility for rice allocation and make reports on the work.

Meanwhile, the People’s Committees of the two localities are responsible for delivering rice support for the needy in a timely fashion and in line with regulations./.

Source: Vietnam News Agency

MANILA: The Congress of Philippine Aquatics (COPA) resumes its grassroots development program with the staging of the One for All, All for One Swim Series Leg 3 on April 14 at the Teofilo Ildefonso swimming pool inside the Rizal Memorial Sports Complex in Malate, Manila.

Tournament director Chito Rivera said the competition is open to all young swimmers regardless of their affiliation with swimming clubs or organizations.

“Since Day 1, when the Philippine Olympic Committee and World Aquatics recognized the Philippine Aquatics, Inc. (PAI) as a legitimate swimming association in the country, PAI’s program has promoted grassroots development. We campaign for inclusivity and not exclusivity,’ said Rivera, who serves as PAI executive director.

Students from public schools and with no regular swimming clubs can participate in the tournament for free.

“Just bring proof that they are enrolled in the school and their participation fee is free,” said Rivera, also president of the Samahang Manlalangoy sa Pilipinas (
SMP).

He added the tournament will also prepare the swimmers for the PAI national tryouts for the Southeast Asian Age Group Championship, scheduled for December in Bangkok, Thailand.

The country’s top juniors are also expected to join the swim series leg 3 organized by COPA, which is headed by Batangas 1st District Rep. Eric Buhain. Supporting the event are Speedo Philippines and the Philippine Sports Commission.

Source: Philippines News Agency

ISTANBUL: Wage developments will be the key factor for whether or not the European Central Bank (ECB) decides to cut interest rates, economists told Anadolu ahead of the bank’s meeting next Thursday.

Pointing to lower-than-expected March inflation figures, Peter Vanden Houte, chief economist at the Dutch banking firm ING Group, said it is still early for the ECB to give the all-clear on inflation.

According to Eurostat’s flash data, the euro area annual consumer inflation rate slowed to 2.4 percent in March from 2.6 percent in February.

“Also, (ECB President) Christine Lagarde made it very clear that more information is needed, especially on wage developments, before the ECB can be certain its inflation target will be attained,” Houte said, adding that some of the indicating data will be available in May.

Saying that a rate cut was not discussed at the ECB’s last meeting, Houte underscored that latest economic surveys have been improving, indicating that there is no need for an emergency rate cut.

“There
fore we believe that the ECB is going to leave monetary policy rates unchanged at next week’s meeting,” he said.

However, Houte highlighted that a growing number of Governing Council members will likely want to discuss the timing of a first rate cut at next week’s meeting.

“We therefore believe that during the press conference Lagarde is likely to put the door open for a rate cut in June,” he added.

Dirk Schumacher, head of European Macro Research at the France-based financing firm Natixis, said the rate is expected to remain on hold in April despite a further decline in headline inflation.

“Rather, we expect the ECB to reiterate its long-held view that it would need to see further evidence that wage pressure is moderating,” he said.

The ECB is projected to provide some hints that the baseline scenario remains consistent with a start of the cutting cycle by June, Schumacher said.

Marco Wagner, senior economist at Frankfurt-based Commerzbank, also forecast the ECB will leave interest rates unchanged.

“T
he central bankers will probably wait for further data on wage trends and the new projections that will be available at the June meeting,” he said. “We expect four interest rate cuts of 25 basis points each by spring 2025.”

Source: Philippines News Agency

ISTANBUL: Wage developments will be the key factor for whether or not the European Central Bank (ECB) decides to cut interest rates, economists told Anadolu ahead of the bank’s meeting next Thursday.

Pointing to lower-than-expected March inflation figures, Peter Vanden Houte, chief economist at the Dutch banking firm ING Group, said it is still early for the ECB to give the all-clear on inflation.

According to Eurostat’s flash data, the euro area annual consumer inflation rate slowed to 2.4 percent in March from 2.6 percent in February.

“Also, (ECB President) Christine Lagarde made it very clear that more information is needed, especially on wage developments, before the ECB can be certain its inflation target will be attained,” Houte said, adding that some of the indicating data will be available in May.

Saying that a rate cut was not discussed at the ECB’s last meeting, Houte underscored that latest economic surveys have been improving, indicating that there is no need for an emergency rate cut.

“There
fore we believe that the ECB is going to leave monetary policy rates unchanged at next week’s meeting,” he said.

However, Houte highlighted that a growing number of Governing Council members will likely want to discuss the timing of a first rate cut at next week’s meeting.

“We therefore believe that during the press conference Lagarde is likely to put the door open for a rate cut in June,” he added.

Dirk Schumacher, head of European Macro Research at the France-based financing firm Natixis, said the rate is expected to remain on hold in April despite a further decline in headline inflation.

“Rather, we expect the ECB to reiterate its long-held view that it would need to see further evidence that wage pressure is moderating,” he said.

The ECB is projected to provide some hints that the baseline scenario remains consistent with a start of the cutting cycle by June, Schumacher said.

Marco Wagner, senior economist at Frankfurt-based Commerzbank, also forecast the ECB will leave interest rates unchanged.

“T
he central bankers will probably wait for further data on wage trends and the new projections that will be available at the June meeting,” he said. “We expect four interest rate cuts of 25 basis points each by spring 2025.”

Source: Philippines News Agency

ISTANBUL: Wage developments will be the key factor for whether or not the European Central Bank (ECB) decides to cut interest rates, economists told Anadolu ahead of the bank’s meeting next Thursday.

Pointing to lower-than-expected March inflation figures, Peter Vanden Houte, chief economist at the Dutch banking firm ING Group, said it is still early for the ECB to give the all-clear on inflation.

According to Eurostat’s flash data, the euro area annual consumer inflation rate slowed to 2.4 percent in March from 2.6 percent in February.

“Also, (ECB President) Christine Lagarde made it very clear that more information is needed, especially on wage developments, before the ECB can be certain its inflation target will be attained,” Houte said, adding that some of the indicating data will be available in May.

Saying that a rate cut was not discussed at the ECB’s last meeting, Houte underscored that latest economic surveys have been improving, indicating that there is no need for an emergency rate cut.

“There
fore we believe that the ECB is going to leave monetary policy rates unchanged at next week’s meeting,” he said.

However, Houte highlighted that a growing number of Governing Council members will likely want to discuss the timing of a first rate cut at next week’s meeting.

“We therefore believe that during the press conference Lagarde is likely to put the door open for a rate cut in June,” he added.

Dirk Schumacher, head of European Macro Research at the France-based financing firm Natixis, said the rate is expected to remain on hold in April despite a further decline in headline inflation.

“Rather, we expect the ECB to reiterate its long-held view that it would need to see further evidence that wage pressure is moderating,” he said.

The ECB is projected to provide some hints that the baseline scenario remains consistent with a start of the cutting cycle by June, Schumacher said.

Marco Wagner, senior economist at Frankfurt-based Commerzbank, also forecast the ECB will leave interest rates unchanged.

“T
he central bankers will probably wait for further data on wage trends and the new projections that will be available at the June meeting,” he said. “We expect four interest rate cuts of 25 basis points each by spring 2025.”

Source: Philippines News Agency