DSWD chief denies reports of US, UK food donations sold in markets

 Entertainment
Dec 132013
 
DSWD chief denies reports of US, UK food donations sold in markets

British aircraft carrier, HMS Illustrious, carrying around 500 tons of aid for victims of Typhoon Haiyan docks at Pier 15 in South Harbor, Manila on Wednesday (December 11, 2013) for relief operation in Tacloban, Leyte. Led by Capt. Mike Utley, the Royal Navy ship carries supplies provided by the Department for International Development (DFID) including 12,500 blankets, 20,000 candles, 30,000 bags of rice and 9,800 tins of sardines, thousand cans of vegetables, shelter kits, and jerry cans. HMS Illustrious is replacing HMS Daring, which has been distributing aid in remote communities for the past week. (MNS photo) MANILA, Dec. 11 (Mabuhay) – Department of Social Welfare and Development (DSWD) Secretary Corazon Soliman on Wednesday vehemently denied reports circulating in the foreign media that donations from the US and UK consisting of MREs (meal-ready-to-eat) are being diverted and sold in markets. She said that this claim is preposterous as the two nations did not made any food donations to the Philippines. “Per DSWD’s records, the UK donations that have entered the country only include non-food items such as shelter boxes, communication equipment, solar lights, and blankets among others,” Soliman said during a briefing at the National Disaster Risk Reduction and Management Council headquarters in Camp Aguinaldo, Quezon City. She also added that these items are impossible to divert as all are consigned to non-government organizations and United Nations agencies except for the 504 tents which arrived in Manila last Nov. 25 and were consigned to the DSWD and another 576 relief Read More …

Aquino to show country’s resilience to calamities in Tokyo summit

 Entertainment
Dec 132013
 
Aquino to show country’s resilience to calamities in Tokyo summit

President Benigno S. Aquino III reviews the honor guard during the send-off ceremony at the Ninoy Aquino International Airport (NAIA) Terminal II on Thursday (December 12). To attend the ASEAN-Japan Commemorative Summit in Tokyo, Japan. (MNS photo) MANILA, Dec 12 (Mabuhay) – President Benigno S. Aquino III said his attendance to the Association of Southeast Asian Nations (ASEAN)-Japan Commemorative Summit in Tokyo, Japan will provide him an opportunity to promote the Philippines’ resilience to calamities. In his departure speech at the Ninoy Aquino International Airport (NAIA) Terminal 2 in Pasay City on Thursday, the Chief Executive said he also wants to show the country’s gratitude to Japan for its support and encouragement extended to the Philippines in the aftermath of super typhoon “Yolanda” (internationally known as Haiyan). “Tungkulin nating daluhan ito bilang kasapi ng ASEAN, at bilang isa sa malalapit na kaalyado ng bansang Hapon. Sa pagkakataon nga pong ito, tutungo rin tayo doon upang iparating ang ating pasasalamat sa mga karatig-bayang dumamay at nagpaabot ng ayuda sa Pilipinas nitong mga nagdaan na sakuna,” President Aquino said. “Tunay nga po, na sa panahon ng taimtim nating pangangailangan, ipinaramdam nila na hindi tayo nag-iisa. Ito po ang mga dibidendo ng marangal at mahusay nating pakikitungo’t pakikipag-ugnayan sa ating mga kaalyado’t kaibigan. Isipin na lang po ninyo, bago pa man humagupit ang bagyong Yolanda, nakapuwesto na ang mga kawani ng ASEAN Centre for Humanitarian Assistance o AHA sa Pilipinas upang sumaklolo at magbigay ng kalinga,” he stressed. The President thanked the Japanese Read More …

ADB mulls increasing loan to Phl for Yolanda reconstruction

 Economy
Dec 132013
 
ADB mulls increasing loan to Phl for Yolanda reconstruction

MANILA, Philippines  – The Asian Development Bank (ADB) is looking at increasing its loan assistance to the Philippines from $500 million to $850 million for the reconstruction of areas affected by typhoon Yolanda. “We are considering to give additional $350 million by the end of the year,” ADB President Tahehiko Nakao said on Friday. The multilateral financial institution has earlier given the Philippines a $23-million grant after the typhoon, $3 million of which were given on Nov. 14. Nakao said the amount, used for the immediate needs of victims, came from the Asia Pacific Disaster Response Fund. The remaining $20 million will come the Japanese government’s Japan Fund for Poverty Reduction. Despite the devastation caused by the strongest typhoon to hit earth this year, the ADB president said it will maintain its 7-percent growth forecast for the Philippines in 2013 and 6.1 percent next year. “It will be offset by the very strong domestic demand in the country on the whole… there’s several quarters the growth that is higher than expected,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Socioeconomic Planning Secretary Arsenio Balisacan earlier said regions of Eastern Samar, Panay and Central Visayas which were damaged by the typhoon contribute as much as 12 percent to the country’s overall economic growth. He said the typhoon may negatively affect the fourth quarter economic growth between .3 and .8 percent.

Japan in currency deals with Indonesia, Philippines, Singapore

 General
Dec 132013
 
Japan in currency deals with Indonesia, Philippines, Singapore

Japan has expanded currency swap agreements with Indonesia and the Philippines, officials said Friday, as Tokyo looks to bolster regional relations to counter the growing influence of China. The deals — along with the renewal of an expired agreement with Singapore — came as Tokyo hosted a special three-day summit with leaders from the Association of Southeast Asian Nations (ASEAN) to mark the 40th anniversary of ties between the sides. Currency swaps are useful in times of economic stress, when normal foreign exchange markets can seize up, as they allow for financial authorities to buy local currencies with something much more liquid — usually the US dollar. Since the Asian crisis in the late 1990s, Japan has spearheaded efforts to build a regional currency swap agreement, now known as the Chiang Mai Initiative (CMI), which has ballooned to about $240 billion. On Friday, Japan said it has nearly doubled its bilateral swap arrangement with Jakarta to $22.76 billion from $12 billion, as concerns rumble about the possible impact of the US Federal Reserve scaling back its massive stimulus programme. The central bank, which holds a policy meeting next week, may start tapering its $85 billion-a-month bond buying scheme as early as this month. That may drive a flight back to the dollar and stoke potentially destabilising capital outflows in emerging markets. “The authorities in Japan and Indonesia hope that the strengthened bilateral financial cooperation will contribute to the stability of financial markets,” the Japanese finance ministry said. Japan also agreed Read More …

CHRISTMAS DESTINATIONS ON A BUDGET

 News
Dec 122013
 
CHRISTMAS DESTINATIONS ON A BUDGET

The perfect Christmas gift is always a nice vacation with family and friends. Since we also have to give dozens of godchildren gifts, we sometimes lack the funds to travel to expensive places. So here’s a list of the more affordable places to visit for the long Christmas to New Year break. READ FULL STORY

US job openings reach 5-year high, a hopeful sign

 Economy
Dec 122013
 
US job openings reach 5-year high, a hopeful sign

Employment opportuniy banners stand in the foreground as retired US Navy Chief Jerome Porter, of Atlanta, talks with a recruiter during a job fair for veterans at the VFW Post 2681, in Marietta, Ga. (AP Photo/David Goldman) WASHINGTON — U.S. employers advertised the most job openings in more than five years in October, and the number of people quitting also reached a five-year high. The Labor Department said Tuesday that job openings rose 1 percent to a seasonally adjusted 3.93 million. That is the highest figure since May 2008, three months after the Great Recession began. And the number of workers who quit rose 2.5 percent to 2.39 million, the most since October 2008. More workers quitting can signal a healthy job market, because most of those people likely either have a new job or are confident they can find one. Total hiring, though, slipped 2.6 percent to 4.5 million after reaching a five-year high in September. Still, overall hiring has risen 5.2 percent in the past year. More hiring, job openings and quits point to a more dynamic job market. That trend creates more opportunities for people out of work or looking for a new job. Another positive sign in the report: Layoffs plunged 16 percent to 1.47 million, the lowest level on records dating to 2001. Still, while fewer layoffs are welcome, businesses need to step up hiring to more quickly reduce the still-high unemployment rate of 7 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Read More …

S&P expects Phl to remain fastest growing in Asean

 General
Dec 122013
 
S&P expects Phl to remain fastest growing in Asean

MANILA, Philippines – Standard & Poor’s Financial Services (S&P) said the Philippines will continue to reflect strong growth in 2014 compared to the rest of the countries in the Association of Southeast Asian Nations (Asean). In a report, S&P said while Asean member nations are expected to exhibit steady growth moving towards 2014, the Philippines would once again post the strongest growth in the region. Rising household indebtedness has weighed on consumption in Thailand and Malaysia, while Indonesia is facing tighter monetary settings that were put in place to rein in the current account deficit. “Of this group, only the Philippines looks like growth will continue at a high pace, particularly as rebuilding efforts begin after the disastrous typhoon that hit the country,” the report said. S&P’s baseline outlook for Philippine gross domestic product (GDP) growth rate remains at seven percent, but would likely taper to 6.4 percent in 2014 and at six percent in 2015. Assuming negative external conditions and weak reconstruction efforts for the devastation of the super typhoon and earthquake, next year’s growth could slow down to 5.7 percent and 5.4 percent in 2015, S&P added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 But if the economy can weather external pressures and swiftly take advantage of opportunities in the rebuilding phase, a seven-percent growth rate in 2014 is possible and 6.8 percent the following year, it pointed out. Inflation will remain well under control across most of the region as slower growth and existing output Read More …

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