Day: April 18, 2024

MANILA: The local index has improved for two days in a row, with gains on Thursday lifting the bourse to 6,500-level, while the peso closed sideways.

The benchmark Philippine Stock Exchange index (PSEi) increased by 1.13 percent to 6,523.19, while the broader All Shares grew by 0.77 percent to 3,456.32.

Except for Mining and Oil, all other counters ended in the green territory.

‘Investors continued to take opportunities from the market’s recent steep decline,’ Philstocks Financial, Inc. research and engagement officer Mikhail Plopenio said.

‘Fueling the positive sentiment was the resurfacing of rate cut hopes as Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. stated the possibility of monetary easing starting in the fourth quarter of this year,’ he added.

He said net value turnover on Thursday stood at PHP5.9 billion, which is higher than the year-to-date average of PHP5.09 billion.

‘Foreigners were net sellers with net outflows amounting to PHP619.21 million,’ Plopenio said.

Advancers led dec
liners at 107 to 76, leaving 43 counters unchanged.

Meanwhile, the Philippine peso closed sideways at 57.19 to a US dollar from 57.18 to a dollar on Wednesday.

The peso opened the day at 57.15 from last day’s kick-off at 57.1 to a US dollar.

The peso-dollar exchange rate ranged between 57.01 and 57.24, bringing the average level for the day at 57.10 to the greenback.

Trade volume reached USD1.8 billion, slipping from USD1.92 billion the previous day.

Source: Philippines News Agency

MANILA: The United States government is providing PHP4 million in funding and technical support to boost the country’s reporting and training on women and children protection, the US Embassy in Manila said Thursday.

The funding, to be coursed through the US Agency for International Development (USAID), will assist the Department of Health (DOH) and Child Protection Network Foundation (CPN) strengthen the Women and Children Protection Management Information System (WCPMIS) by streamlining its reporting, data collection and analysis.

The WCPMIS is used to track cases of women and child abuse in the Philippines.

‘This will enable more efficient monitoring of abuse survivors’ progress, ensuring timely support from responders,’ the US Embassy said.

‘Accurate data will also be made available to other organizations and individuals providing services to abuse survivors,’ it added.

USAID Philippines Mission Director Ryan Washburn witnessed the signing of a memorandum of agreement between DOH Secretary Teodoro Her
bosa and CPN Executive Director Dr. Bernadette Madrid last April 11.

DOH and CPN also signed a memorandum of understanding (MoU) for the online training of healthcare workers on recognizing, reporting, recording and referring (4Rs) abuse cases.

Under the MoU, DOH will now require Women and Child Protection Units in hospitals to report abuse cases to authorities.

‘The culture of violence must be stopped. Tight collaboration and solid data can change policies to protect women and children,’ Herbosa said.

‘We have an ocean of data all around us. We must harness the power of that ocean, organizing information into seas of knowledge with safe harbors that will allow boats of wisdom to dock,’ he added.

In announcing the funding, Washburn reiterated that USAID’s work has been guided by the ‘paramount principle of the child’s best interest’.

He expressed optimism these agreements would allow those charged with identifying and reporting abuse to better their obligations and how to fulfill them.

‘Consequently, t
hose agencies and persons charged with preventing, protecting, and providing support to survivors will have the information they need to effectively carry out their own roles in combating child abuse,’ he said.

Madrid, meanwhile, echoed Herbosa and underscored the importance of data in preventing cases of abuses.

‘This database is important, being one of the missing gaps in preventing and intervening on cases of violence against children,’ she said. ‘Data will tell us what the victims need, the appropriate policies and projects intended for them and where to exert more effort (for the victims).”

USAID supports the Philippine government in integrating gender-based violence prevention and response into its health programming.

Since 2019, it has trained over 3,400 health providers in the 4Rs, along with training on gender sensitivity and gender-based violence prevention and response across its project areas.

Source: Philippines News Agency

MANILA: The United States government is providing PHP4 million in funding and technical support to boost the country’s reporting and training on women and children protection, the US Embassy in Manila said Thursday.

The funding, to be coursed through the US Agency for International Development (USAID), will assist the Department of Health (DOH) and Child Protection Network Foundation (CPN) strengthen the Women and Children Protection Management Information System (WCPMIS) by streamlining its reporting, data collection and analysis.

The WCPMIS is used to track cases of women and child abuse in the Philippines.

‘This will enable more efficient monitoring of abuse survivors’ progress, ensuring timely support from responders,’ the US Embassy said.

‘Accurate data will also be made available to other organizations and individuals providing services to abuse survivors,’ it added.

USAID Philippines Mission Director Ryan Washburn witnessed the signing of a memorandum of agreement between DOH Secretary Teodoro Her
bosa and CPN Executive Director Dr. Bernadette Madrid last April 11.

DOH and CPN also signed a memorandum of understanding (MoU) for the online training of healthcare workers on recognizing, reporting, recording and referring (4Rs) abuse cases.

Under the MoU, DOH will now require Women and Child Protection Units in hospitals to report abuse cases to authorities.

‘The culture of violence must be stopped. Tight collaboration and solid data can change policies to protect women and children,’ Herbosa said.

‘We have an ocean of data all around us. We must harness the power of that ocean, organizing information into seas of knowledge with safe harbors that will allow boats of wisdom to dock,’ he added.

In announcing the funding, Washburn reiterated that USAID’s work has been guided by the ‘paramount principle of the child’s best interest’.

He expressed optimism these agreements would allow those charged with identifying and reporting abuse to better their obligations and how to fulfill them.

‘Consequently, t
hose agencies and persons charged with preventing, protecting, and providing support to survivors will have the information they need to effectively carry out their own roles in combating child abuse,’ he said.

Madrid, meanwhile, echoed Herbosa and underscored the importance of data in preventing cases of abuses.

‘This database is important, being one of the missing gaps in preventing and intervening on cases of violence against children,’ she said. ‘Data will tell us what the victims need, the appropriate policies and projects intended for them and where to exert more effort (for the victims).”

USAID supports the Philippine government in integrating gender-based violence prevention and response into its health programming.

Since 2019, it has trained over 3,400 health providers in the 4Rs, along with training on gender sensitivity and gender-based violence prevention and response across its project areas.

Source: Philippines News Agency

MANILA: The Philippines and New Zealand have taken steps toward deeper defense cooperation, including the possible establishment of a visiting forces agreement, as President Ferdinand R. Marcos Jr. and New Zealand Prime Minister Christopher Luxon met in Malacañang on Thursday.

In a joint statement released after the two leaders’ bilateral meeting, Marcos and Luxon committed to ‘maintaining and strengthening defense engagements while exploring new frameworks of cooperation to deepen defense ties.’

‘Both sides committed to the signing of a Mutual Logistics Supporting Arrangement (MLSA) by the end of 2024, and to concluding a Status of Visiting Forces Agreement (SOVFA),’ the leaders said.

Aside from the United States, the Philippines also has a SOVFA with Australia and is currently developing a similar defense pact with Japan, known as the Reciprocal Access Agreement.

These types of military partnerships allow Filipino and foreign soldiers to train in each other’s territory, as well as share military equipme
nt and assets.

Marcos and Luxon both shared serious concern over recent developments in the South China Sea, reaffirming the right of freedom of navigation and overflight and other lawful uses of the seas under international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

The two leaders also expressed commitment to sustaining maritime security cooperation, including bilateral and multilateral activities at sea, port calls/visits, and capacity-building efforts.

Recognizing that the Philippines and New Zealand have a shared interest as Pacific maritime nations, Marcos and Luxon also pledged to cooperate on maritime law enforcement, including addressing common threats, such as piracy, maritime terrorism, contraband smuggling, wildlife trafficking, and irregular human migration.

Strengthening economic ties

Meanwhile, Marcos and Luxon also welcomed the development of stronger economic linkages between the Philippines and New Zealand and reaffirmed their shared commitment
to upholding the rules-based trading system.

Both Leaders welcomed the upgrade of the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and the successful implementation of the Regional Comprehensive Economic Partnership (RCEP) and acknowledged the strong collaboration between the two countries through the Asia-Pacific Economic Cooperation (APEC).

Luxon acknowledged the Philippines’ interest in developing the export capability of its agricultural sector and pledged to further discussions between officials on this initiative.

Additionally, the two leaders also committed to eliminating ‘unnecessary barriers to trade’ and promised to ensure that exporters could fully utilize the comprehensive suite of free trade agreements, to achieve a ‘mutually beneficial increase of 50 percent in two-way trade by 2030.’

People-to-people exchange

Likewise, the two leaders vowed to continue strengthening people-to-people cooperation and ensure the welfare of Filipino migrant workers, especially nurses.

Marcos and Luxo
n looked forward to the review of the existing bilateral migrant worker arrangement, which will facilitate the recruitment of Filipino workers to New Zealand and other initiatives.

During their meeting, Marcos and Luxon also discussed the relations of the Philippines and New Zealand in terms of environment, climate change, people-to-people exchanges, and other multilateral endeavors.

Luxon is in Manila for the last leg of his three-country Southeast Asia swing. He has also visited Singapore and Thailand.

Source: Philippines News Agency

MANILA: The Department of Justice (DOJ) on Thursday inked an agreement with private institutions to launch Project Arts, Crafts and E-Commerce (ARTE) to improve the technical skills of female persons deprived of liberty (PDLs) at the Correctional Institution for Women (CIW).

The partners under the memorandum of understanding (MOU) with DOJ and CIW include Zarah Juan, Mark Bumgarner, Strokes, Halohalo, Zalora, Pinay Girl Boss, Huawei, Smart and Lazada.

In a statement, Justice Undersecretary Margarita Gutierrez said Project ARTE aims to provide PDLs a better quality of life by ‘upskilling and empowering women PDLs to become more entrepreneurial and capable of navigating e-commerce.”

‘We are not only empowering them to build better futures for themselves, but also contributing to the overall economic growth and development of our society,” Gutierrez said.

She thanked the team behind the transformative livelihood program ‘for their commitment and dedication to a vital cause.’

‘Together, we can make a differe
nce and build a brighter future for all.’

Under the MOU, the Bureau of Corrections (BuCor) shall provide facilities for the initial launch of Project ARTE, as well as the selection of qualified PDLs who will become beneficiaries of the project.

The roles and contributions of the program partners or the private corporations include training PDLs to attain long-term means of livelihood, such as bag-making, make-up, designing, arts and entrepreneurship.

Source: Philippines News Agency

MANILA: Three overseas Filipino workers (OFWs) in the United Arab Emirates (UAE) reportedly died due to the severe flooding that hit the desert nation.

In an advisory on Thursday, the Department of Migrant Workers conveyed the sad news as it extended its deepest condolences and sympathies to the families and relatives of the departed OFWs.

‘With extreme sadness, we report the death of three OFWs during the flooding in UAE. Two OFWs died due to suffocation inside their vehicle during the flood. One other OFW died due to a vehicular accident,’ DMW officer-in-charge Undersecretary Hans Leo Cacdac said in his post on X.

The department assured the families of the three OFWs of its fullest support and assistance.

The DMW’s Migrant Workers Offices (MWOs) and the Overseas Workers Welfare Administration (OWWA) Offices in Dubai and Abu Dhabi are working closely to provide all assistance to the families of the three OFWs.

They are also preparing to distribute relief goods, basic necessities, and other essential ite
ms to OFW communities in Al Ain and Dubai.

Source: Philippines News Agency