Category: General

MANILA: Some areas in the country will experience rains due to the easterlies and the northeast monsoon or ‘amihan,’ the weather bureau said Thursday.

Scattered rain showers and thunderstorms due to the easterlies will prevail over the Caraga region, Davao Oriental, and Davao de Oro.

Moderate to heavy rains in those areas could result in flash floods or landslides, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said.

Meanwhile, the ‘amihan’ will bring light rains over Cagayan Valley, Apayao, Kalinga, Mountain Province, Ifugao, Aurora, Quezon, and Camarines Norte.

It will also bring isolated light rains over the rest of Luzon.

The rest of the country, on the other hand, will experience isolated rain showers caused by localized thunderstorms.

Moderate to strong winds and moderate to rough seas will prevail over Luzon and the Visayas.

In Mindanao, winds will be light to moderate with slight to moderate coastal waters, PAGASA said.

The temperature in Metro Manila
will range from 25°C to 32°C; Baguio City, 14°C to 22°C; Laoag City, 22°C to 31C; Legazpi City, 24°C to 30°C; Metro Cebu, 26°C to 31°C; Puerto Princesa City, 26°C to 32°C; and Metro Davao, 25°C to 34°C.

Source: Philippines News Agency

MANILA: The House of Representatives has authorized all standing and special committees to conduct necessary hearings during the five-week Lenten break.

The motion to authorize all committees to conduct meetings and/or public hearings, ‘if deemed necessary,’ during the House recess from March 21 to April 28 was made by Deputy Majority Leader, Isabela 6th District Rep. Faustino Dy V, on Wednesday night, which was swiftly approved without objection.

In a statement on Thursday, Speaker Martin Romualdez said the decision to allow committee hearings during the congressional break highlights the House’s commitment to ‘prioritizing legislative responsibilities and addressing pressing issues facing the nation.’

‘It reflects a proactive approach to governance, ensuring that important legislation is not delayed due to scheduled recess periods,’ he said, underscoring the importance of maintaining momentum in legislative efforts.

‘The House remains steadfast in its commitment to serve the Filipino people. Allowing co
mmittee hearings during the break demonstrates our dedication to fulfilling our duties as legislators and addressing the needs of our constituents.’

Source: Philippines News Agency

MANILA: The local bourse and currency both improved on Thursday.

The Philippine Stock Exchange index (PSEi) bounced back to the 6,900-level this day after gaining 47.27 points, or 0.69 percent, closing at 6,904.04.

All Shares also improved by 9.65 points, or 0.27 percent, to 3,581.75 level.

All counters closed in the green territory, with the highest gains coming from Mining and Oil, which jumped by 110.97 points, or 1.36 percent, to 8.262.35 level.

This is followed by Services, Industrial, Property, Financials, and Holding Firms.

‘(I)nvestors took positive cues from Wall Street’s record high performance overnight amid renewed rate cut hopes,’ Philstocks Financial, Inc. research and engagement officer Mikhail Plopenio said.

‘Boosting the sentiment was BSP (Bangko Sentral ng Pilipinas) Governor Eli Remolona’s statement saying that the BSP may even cut rates faster than the Fed,’ Plopenio added.

Gainers led losers at 118 to 82, with 39 counters left unchanged.

Meanwhile, the Philippine peso gained 0.10
this day to close the trading at 56.03 to a US dollar from 56.13 on Wednesday.

However, the peso failed to return to the 55-level.

It opened the day weak at 56.01 from 55.87 the previous day.

The currency pair traded between 55.89 to 56.08 to the greenback, bringing the average level for the day at 55.96.

Trade volume declined to USD1.32 billion from USD1.54 billion on Wednesday.

Source: Philippines News Agency

LEGAZPI CITY: The Bureau of Fisheries and Aquatic Resources in Bicol (BFAR-5) is optimistic that the construction of the PHP30 million multi-species freshwater hatchery in Camarines Sur will increase the local production of fish and create more opportunities in terms of livelihood.

In a phone interview on Thursday, BFAR Bicol spokesperson Rowena Briones said the Bombon Legislated Freshwater Hatchery in Barangay San Roque is expected to provide a sustainable food supply to the communities and additional income to the fisherfolk and the local government unit.

“After the construction, which is expected to be completed in seven months, the operation and management of the hatchery will be facilitated by BFAR Bicol. After two years, the management of the multi-species freshwater hatchery will be transferred to the LGU (local government unit) of Bombon,” Briones said.

Based on the BFAR assessment, she said the hatchery will have an annual income of PHP8 million from all the commodities, including tilapia, catfish
, carp, and giant gourami.

Briones added that establishing the Bombon Legislated Freshwater Hatchery was made possible by Republic Act 11810 (An Act Establishing a Freshwater Fish Hatchery in the Municipality of Bombon, Province of Camarines Sur) which became a law in 2022.

The freshwater hatchery is the first in Camarines Sur and third in the region, following the establishment of hatcheries in Ligao City and Libon in Albay.

In his message during the groundbreaking on March 14, BFAR National Director Demosthenes Escoto said the project will alleviate difficulties of fisherfolk in accessing seed stock. He also underscored that it would stabilize the local aquaculture industry by increasing local production of fish fry, thereby reducing reliance on imports and wild captures.

Source: Philippines News Agency

MANILA: The Aboitiz Group is investing big in renewable energy (RE) projects this year, hiking the company’s capital expenditure (capex) to PHP153 billion, or more than double last year’s PHP65 billion.

The Aboitiz Group confirmed Thursday earlier reports that it earmarked PHP153 billion as this year’s capex, allotting a big chunk to RE projects in the pipeline.

‘Our substantial increase in capital expenditures is a clear reflection of our commitment to renewable energy. We believe that investing in sustainable energy sources is not just good for the environment, but also makes good business sense,’ Aboitiz Group president and chief executive officer Sabin Aboitiz said.

Its energy unit Aboitiz Power Corp. is allocated PHP73 billion, or 48 percent of the group’s spending this year.

‘The company has over 1,000 megawatts (MW) of disclosed RE projects in construction and development en route to hitting a target of 4,600 MW within the next decade,’ the Aboitiz Group said.

For this year, it targets to break gr
ound on various RE projects, such as the 89-MW peak Solar Project in San Manuel, Pangasinan, and a 50-MW wind plant in Camarines Sur in partnership with other energy companies.

Its holding company Aboitiz Equity Ventures (AEV) is getting PHP44 billion, or 29 percent of this year’s capex for the acquisition of Coca-Cola Beverages Philippines, Inc. (CCBPI), the bottling arm of Coca-Cola in the country.

Aboitiz InfraCapital will be spending PHP25 billion this year ‘to strengthen and optimize existing assets while sustaining its growth by exploring new projects and synergies within the Group.”

‘Another PHP1 billion is allotted for major maintenance works and the purchase of critical spares of the Group’s cement business under Republic Cement,’ it added.

Pilmico and Gold Coin Group, for its agribusiness expansion projects, is allocated nearly PHP4 billion this year.

Aboitiz Land, on the other hand, set a capex of PHP3.3 billion to support its ongoing projects

The company did not disclose the amount of Union
Bank of the Philippines’ (UBP) capex this year, but it said most of the allocation would be spent on UBP’s technology refresh, cybersecurity, and system integration.

‘As a techglomerate, we intend to redefine the meaning of industry and community in the digital age,” Aboitiz added.

Source: Philippines News Agency

MANILA: The International Volleyball Federation (FIVB) and Volleyball World announced on Wednesday night the selection of the Philippines as host of the prestigious Men’s World Championship next year.

The tournament, featuring the world’s top 32 teams, will be held on Sept. 12 -28, 2025.

According to the news report on the FIVB website, the Philippines was selected among “an extremely competitive field of potential hosts” and after a strict evaluation process, its bid was found “to be particularly strong; with its emphasis on ensuring a continued growth of the event and the country’s commitment to the development of volleyball globally.”

“This prestigious event will not only inspire a new generation of athletes but will also help to encourage increased participation in sport at all levels in the country and wider region,” FIVB president Dr. Ary Graça said after the official awarding ceremony held at the FIVB headquarters in Lausanne, Switzerland.

“We are confident that the Philippines, supported by our in
novative Volleyball Empowerment program, will host an extraordinary World Championship that will leave a lasting legacy and help to cultivate an even brighter future for our sport globally.”

Volleyball World CEO Finn Taylor said the decision underscores FIVB and Volleyball World’s dedication to expanding volleyball’s global footprint and engaging with fans worldwide.

‘The Philippines, with its proven track record of hosting major volleyball events and passionate fanbase, is well-positioned to deliver an exceptional championship that will showcase the best of the sport,” he said.

The Philippine bidding delegation was led by Philippine National Volleyball Federation (PNVF) board member, Senator Pia Cayetano, who said that the successful bid to host the FIVB Volleyball Men’s World Championship further ‘reinforces the country’s track record’ in staging world-class events.

‘With the support and commitment of both our government, and the private sector, we can be certain that it will be a fantastic spectacle,’
she said.

The former national volleyball athlete said it has been her personal advocacy to make sports more accessible, especially to the Filipino youth, and bringing the international competition to the Philippines would give the Filipino people the opportunity to witness it first-hand.

‘We also have the honor of welcoming 32 teams, as well as a global audience where they can experience world-renowned Filipino hospitality and colorful Filipino culture,’ Cayetano said.

As part of the event, the Department of Tourism will integrate the “LOVE THE Philippines” promotional campaign, highlighting the country’s beauty and hospitality, to a global audience.

‘The Philippines’ hosting of this global volleyball event bolsters our sports tourism portfolio, driving economic growth, highlighting the country’s diverse array of tourism offerings that promise a truly unforgettable Philippine experience,’ Tourism Secretary Christina Frasco was quoted as saying in the FIVB press release.

‘We are eager to showcase to the i
nternational volleyball community the many reasons to Love the Philippines: from our award-winning destinations, our mega biodiversity, our deep well of culture and heritage, the tapestry of traditions and talents across our islands, and the warmth and hospitality of the Filipino people. We reiterate the Department of Tourism’s full support and commitment to ensure the successful hosting of the FIVB Volleyball Men’s Championship in 2025.’

Source: Philippines News Agency