Typhoon Ruby sparks calls for climate action

 General
Dec 062014
 
Typhoon Ruby sparks calls for climate action

This image made available by the National Oceanic and Atmospheric Administration (NOAA) shows Typhoon Hagupit on Friday, Dec. 5, 2014, as it approaches the Philippines. The ferocious and dangerously erratic typhoon is blowing closer to the Philippines as differing forecasts about its path prompt a wide swath of the country to prepare for a weekend of destructive winds and rain. AP Photo/NOAA LIMA, Peru–While loved ones braced for the full impact of Typhoon Ruby (Hagupit) back home, Filipino activists in Lima urged climate negotiators Saturday to act with more urgency in drafting a global plan to limit such potentially life-threatening events. “To us in the Philippines, we are not any more debating on whether or not the impacts of climate change are here, we have experienced it,” Voltaire Alferez of the Aksyon Klima Pilipinas NGO grouping said on the sidelines of the talks. “Year after year we are bombarded… from one typhoon to another,” he told AFP as his wife and son of one year left their Manila home for the relative safety of higher ground. This is the third typhoon in a row to hit the Philippines during the annual, ministerial-level climate negotiations towards a new, global pact to limit climate harm by curbing Earth-warming greenhouse gas emissions. Last year, Typhoon Yolanda (Haiyan) hit while talks were under way in Warsaw, killing 7,350 people, and Typhoon Pablo (Bopha) claimed 600 lives during negotiations in Doha in 2012. Climate change It is never possible to attribute any individual weather event to Read More …

PASKONG PINOY: A LONG SEASON OF PREPARATION AND CELEBRATION

 News
Dec 062014
 
PASKONG PINOY: A LONG SEASON OF PREPARATION AND CELEBRATION

By Ana Villanueva-Lykes — THE most celebrated holiday in the Philippines requires a lot of work and time put into it – three months to be exact – to commemorate the humble birth of a baby in a manger. When the “ber” months roll in, Filipinos everywhere in the world begin the planning and the hard work that will lead to that one festive day. But the whole three months is not just about the preparing and the waiting. The preparation in itself becomes a celebration, for others, a sacred ritual, a tradition. Countdown begins You know Christmas has commenced in the Philippines when you start hearing Frank Sinatra jingling his bells in jeepneys even though there is nary a snowflake falling from the smog-filled sky. But the air is thick with anticipation and the joyful preparation ensues. The tradition of decorating and lighting the plastic trees begin. Suddenly, the air seems cooler and the strong desire to spend cannot be ignored. And it’s only September. Before December nears, the entire Christmas bonus – yet to be handed out – has already been spent. Malls are eager to indulge. Lavish displays of Christmas scenes are already in every corner. Gigantic empty boxes wrapped in glittering paper rests on artificial powdered snow while a red- suited dark-skinned fellow walks around dispensing ho-ho-ho’s. Concerts are already being planned, constructions are under way, holiday collections have been launched, and the daily practice for the Christmas program starts. Christmas has begun. Meanwhile in the Read More …

North Harbor operator allots P200 M to upgrade facility

 General
Dec 062014
 
North Harbor operator allots P200 M to upgrade facility

MANILA, Philippines – Harbour Centre Port Terminal Inc. (HCPTI), the operator of Manila North Harbor, is pumping in close to P200 million to improve the efficiency of the 79-hectare Harbour Centre port complex to serve as an alternative to the congested ports of Manila. HCPTI chairman and chief executive officer Reghis Romero II said the company is upgrading its facilities and equipment to become a viable alternative to ease the gridlock and the flow of goods in the Port of Manila. “With the expansion of its existing infrastructure, upgrading of its computer systems, acquisition of new equipment and maintaining its ISO certification, HCPTI is now ready to rise to a new and greater challenge – to ease congestion, modernize so that we can develop more room for growth,” Romero said. He pointed out that HCPTI is currently embarking on a dredging project to expand the capacity of its port to accommodate more ships and increase the volume of bulk cargoes needed by industries. To do that, he said HCPTI is fabricating a bulk conveyor system and expanding its storage containment facility to accommodate more cargo. According to him, the company also provided new cargo handling equipment to ensure better handling capacity: Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “For faster bulk handling, HCPTI has acquired 15 tonner forklifts and more will be delivered within the year. HCPTI is also introducing the latest technological innovations to help its customers track their cargoes as well as ensure smooth operations in Read More …

GSIS pensioners set to receive P2.42-B Christmas cash gifts

 Economy
Dec 062014
 
GSIS pensioners set to receive P2.42-B Christmas cash gifts

MANILA, Philippines – The Government Service Insurance System (GSIS) will release P2.42 billion worth of Christmas cash gifts to pensioner members starting Thursday (Dec. 10). GSIS president and the general manager Robert G. Vergara said the amount is 15 percent more than the P2.1 billion disbursed last year. Old-age (retirement) and disability pensioners who have been receiving regularly their monthly pension and whose 2013 cash gift is above P10,000 will each receive an amount equivalent to their one-month pension not exceeding P12,600. Those whose 2013 cash gift is P10,000 and below are entitled to receive one-month pension but not to exceed P10,000. Retirees who availed of five-year lump-sum retirement benefit and had resumed their regular monthly pension after Dec. 31, 2013 will receive their cash gift for the first time this year in an amount equivalent to a month’s pension up to a maximum of P10,000. Pensioners living abroad and those in the Autonomous Region of Muslim Mindanao who are on suspended status as of Dec. 31 are also eligible to receive the cash gift provided they activate their status not later than April 30 next year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Survivorship and dependent pensioners, however, are not entitled to receive the benefit. Retirees who will be receiving their regular monthly pension after Dec. 31, 2014 are also not eligible to receive the benefit. Similarly, new retirees from 2010 to 2014 will only be entitled to the cash gift five years after their retirement date. Read More …

NGCP puts up Iloilo area control center

 Economy
Dec 062014
 
NGCP puts up Iloilo area control center

MANILA, Philippines – The National Grid Corp. of the Philippines (NGCP), has put up an area control center in Iloilo as part of efforts to improve transmission operations. Serving as a nerve center, the Panay Area Control Center enables the system operator to monitor the grid situation in real-time and under all circumstances, NGCP said. The new control center inaugurated in October, is located inside NGCP’s Sta. Barbara Substation and houses top-of-the-line system, telecom equipment, and serves as satellite office of the Visayas System Operations. NGCP president and CEO Henry Sy, Jr. said the move to put up a nerve center is part of efforts to respond to Panay’s growing economy. “NGCP recognizes Panay’s potential, and NGCP is ready to respond to Panay’s growth, “ Sy said in his message during the center’s inauguration. “With this facility, our customers are assured of a more secure and efficient monitoring and control system for transmission facilities serving the area, particularly in places of interest for tourists and investors alike,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Del Monte selling $360-M preferred shares

 Economy
Dec 062014
 
Del Monte selling $360-M preferred shares

MANILA, Philippines – Food processing giant Del Monte Pacific Ltd. (DMPL), a company listed in both Singapore and the Philippines, has decided to tap foreign investors for its preferred shares sale worth $360 million. In a disclosure to the local bourse late Friday, DMPL said it intends to conduct an international offering of up to $360 million to institutional investors. Based on an earlier filing with the Philippines’ Securities and Exchange Commission (SEC), DMPL was seeking approval to sell 36 million preferred shares at an indicative price of $10 a piece. The company intends to list the shares on the Singapore Exchange Securities Trading Ltd (SGX- ST) and has already submitted an application for the shares’ listing. “The company intends to pursue this international offering in lieu of the previously disclosed Philippine offering for timing and market considerations,” the firm said. DMPL said proceeds of the offering would be used to refinance the company’s acquisition of the consumer food business of US-based Del Monte Corp. earlier this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 DMPL obtained a $350 million bridge loan from BDO Unibank, Inc. and another $15.6 million Metropolitan Bank and Trust Co. to acquire Del Monte Foods Inc. (DMFI). DMPL completed the acquisition of DMFI in February this year for nearly $1.7 billion, jumpstarting the transformation of the former into a global branded food and beverage firm. The acquisition was funded by a $970 million debt and $705 million equity, of which Del Monte financed Read More …

New guidelines set for SCTEX price challenge

 Economy
Dec 062014
 
New guidelines set for SCTEX price challenge

MANILA, Philippines – State-run Bases Conversion and Development Authority (BCDA) has approved the guidelines for the Swiss challenge on the maintenance and operations management of the 94-kilometer Subic-Clark-Tarlac Expressway (SCTEX). In a statement yesterday, BCDA said its board of directors approved the guidelines this week. “We are confident that the bidding will result in the best deal for government and motorists. Transparent and competitive biddings are a hallmark of the Aquino administration and have proven to be always beneficial to the public interest,” BCDA president and chief executive officer Arnel Paciano D. Casanova said. The BCDA is bidding out the rights, interest and obligations in the management, operation and maintenance of the SCTEX under a business and operating agreement for a period of 28 years ending in 2043. The SCTEX, a four-lane divided expressway, traverses the provinces of Bataan, Pampanga and Tarlac and is directly linked to the North Luzon Expressway. The BCDA and MNTC signed a business operating agreement on SCTEX in 2011, subject to the approval of the President. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Under the business and operating agreement, MNTC will operate and manage SCTEX for 33 years, while relieving BCDA of payment of the P34-billion debt to the Japan International Cooperation Agency for the construction of the tollway. Malacañang has ordered the price challenge for the SCTEX maintenance and operations management in the interest of transparency. The BCDA said MNTC will have the right to match the highest bid for the project Read More …

Senate aborts gov’t takeover of MRT-3

 General
Dec 062014
 
Senate aborts gov’t takeover of MRT-3

The Senate is effectively aborting the planned government takeover of the breakdown-prone Metro Rail Transit (MRT) 3 next year. Senators are insisting on their decision to take out the P53.9-billion appropriation in the proposed P2.606-trillion 2015 national budget for the buyout plan even if the House of Representatives would insist on retaining it. “Ayaw kong magsalita ng patapos, but definitely we will not restore the whole amount. As of now, we just retained P6 billion out of the P53.9 billion in the approved Senate version,” Senate finance committee chairman Francis Escudero said yesterday. Escudero was responding to a question from The STAR if the Senate’s deletion of the MRT-3 buyout funding was non-negotiable. He said the P6 billion they kept in the budget “is for payment of taxes under the BOT (build-operate-transfer) contract (with investors), which is one of the components of the MRT buyout plan.” He informed congressmen of the Senate’s decision to scrap funding for the planned government takeover of the rail system during the bicameral conference committee on the 2015 budget last Thursday. Asked if the House would fight for its decision to fund the buyout plan, Escudero’s counterpart, Rep. Isidro Ungab of Davao City, appropriations committee chairman, said his panel still has to discuss the matter. The conference committee will convene again tomorrow to agree on the proposed changes in the 2015 budget and possibly vote on the measure. Escudero said senators do not believe that the buyout plan, if it pushes through, would solve the Read More …

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