Landbank loans expand 16% to P280 B in 9 months

 Economy
Nov 252013
 

MANILA, Philippines – State-run Landbank of the Philippines has reported a 16 percent increase in its loan portfolio to P280 billion in the first nine months of 2013, from P241.9 billion a year earlier.

Landbank president and CEO Gilda Pico said most of the loans were granted to priority sectors of the government.

Specifically, loans to priority sectors expanded to P221.7 billion, representing 79.2 percent of the bank’s total loan portfolio.

The bank’s priority sectors comprise, among others, small farmers and fisherfolks microenterprises and SMEs, agri-aqua related projects of LGUs and GOCCs, socialized to medium cost housing, and utilities.

 “The consistent growth in our loan portfolio, particularly our loans to our priority sectors, is solid testament of Landbank’s aggressive support to the government’s thrust towards inclusive growth and our relentless commitment to nurture progress in the rural areas,” Pico said.

As of end-September, outstanding loans to small farmers and fisherfolks reached P29.6 billion, 15 percent higher than last year.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

From January to September, loan releases to small farmers and fisherfolks amounted to P29.8 billion.

The regions with the highest loan releases to small farmers and fisherfolk are Central Luzon with P6.8 billion, Central Visayas with P4.4 billion, followed by Cagayan Valley, Southern Mindanao, and Northern Mindanao with P3.9 billion, P2.7 billion and P2.6 billion, respectively.

Loans to microenterprises and SMEs also grew by a hefty 21 percent from P28.7 billion to P34.6 billion while loans to socialized, low-cost and medium-cost housing reached P22.9 billion.

NDRRMC: Labuyo death toll rises to 7, damage nears P1 billion

 News
Aug 142013
 
NDRRMC: Labuyo death toll rises to 7, damage nears P1 billion

Labuyo causes landslides, flood in Baguio. Rescuers clear debris from a road after a landslide that occurred at the height of Typhoon Labuyo (Utor) in Baguio City on Monday, August 12. The strongest typhoon to hit the Philippines this year triggered landslides and floods, disrupting power and communication links, leaving one person dead and 13 fishermen missing. Reuters The death toll from Typhoon Labuyo rose to seven Wednesday afternoon, with a resident of Isabela being the latest fatality, the National Disaster Risk Reduction and Management Council said Wednesday. NDRRMC spokesman Maj. Reynaldo Balido said Army troops found the body of Benie Almario Labios, 46, at Dipangit village in Jones town in Isabela. “Nakita siya ng tropa ng Philippine Army, ang 86th Infantry Battalion, sa Dipangit, Jones, Isabela,” Balido said in an interview on dzBB radio. Labios was initially reported missing last Monday. The NDRRMC’s 3 p.m. update said that five people were missing while at least seven were injured. According to the council, Labuyo affected at least 45,249 families or 204,627 people in 475 villages in 84 towns and five cities in 16 provinces. It likewise noted a “significant increase” in the number of affected families or persons in Cagayan Valley. Of those affected, 2,641 families or 11,855 people are housed in 57 evacuation centers. As of Wednesday afternoon, 29 roads were still impassable,including 14 in Cordillera, 12 in Central Luzon, and one each in Ilocos and Cagayan Valley. The NDRRMC said 13 bridges were rendered impassable, while power outages Read More …

PAGASA: Rain over Luzon and Eastern Visayas Thursday

 News
Jul 242013
 
PAGASA: Rain over Luzon and Eastern Visayas Thursday

Rain is expected over Metro Manila, Luzon and Eastern Visayas on Thursday due to the inter-tropical convergence zone (ITCZ), state weather forecasters said. PAGASA, in its 5 p.m. bulletin, said the ITCZ was across northern and Central Luzon. For Thursday, it said Metro Manila, the rest of Luzon and Eastern Visayas may expect “cloudy skies with light to moderate rain showers and thunderstorms.” The rest of the country will be “partly cloudy to cloudy with isolated rain showers or thunderstorms.” Also, PAGASA said moderate to occasionally strong winds from the southeast to south will prevail over the Western section of Northern and Central Luzon and its coastal waters will be moderate to occasionally rough. Elsewhere, winds will be light to moderate coming from the east to southeast with slight to moderate seas. Thunderstorm advisories Earlier Wednesday, heavy rain was noted over parts of Metro Manila and Davao. Affected by thunderstorms were Davao City, parts of Davao del Sur, Davao del Norte, Bukidnon, Cotabato, and Maguindanao. PAGASA also issued thunderstorm advisories at 10 p.m. over: – Liloan, Consolation, Mandaue, LapuLapu in Cebu and nearby areas – Metro Manila — DVM, GMA News

MPTC allots P3 B for road construction

 Economy
Jul 142013
 
MPTC allots P3 B for road construction

MANILA, Philippines – Metro Pacific Tollways Corp. (MPTC), a unit of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC), has set a P3-billion capital expenditure program for its road construction projects this year. MPTC president and CEO Ramoncito Fernandez, in an interview with The STAR on the sidelines of the 6th NLEX (North Luzon Expressway) Tara Na sa Norte Tourism and Travel Fair, said a big chunk of the budget, or P1.7 billion, would go to the Segment 9 project which involves a 2.4-kilometer stretch from Valenzuela City to MacArthur Highway. The project is expected to be completed by the middle of next year. Fernandez said these expansion projects would promote tourism, particularly in the northern part of Luzon where most of their facilities are located. MPTC unit Manila North Tollway Corp. (MNTC) operates the 84-kilometer NLEX and was recently awarded by the state-run Bases Conversion and Development Authority (BCDA) the right to operate and maintain the 94-kilometer Subic-Clark-Tarlac Expressway (SCTex) for 33 years. “Our educated guess is that tourism has been playing a good part in the traffic increase in NLEX through the years,” he said. For the first half, traffic volume at NLEX rose five percent to an average 172,000 vehicles daily compared to the same period in 2012. The five percent growth is expected to be sustained by the end of the year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Fernandez said this is significantly higher or double the historical growth of two to four percent Read More …

Rainy Tuesday expected in NCR as rainy season looms

 News
May 272013
 
Rainy Tuesday expected in NCR as rainy season looms

Metro Manila and nearby provinces may expect more rain on Tuesday, even as state weather forecasters on Monday cited shifting winds as another sign the rainy season is drawing closer. PAGASA forecaster Meno Mendoza said the country is beginning to feel winds from the south, with winds from the southeast coming soon. “Sa ngayon nalalapit na tayo (sa tag-ulan) dahil pinapakita na rin ng nararamdamang hangin narito sa southeast to south ang nararamdaman. Malapit na ito maging totally southwest,” Mendoza said in an interview on dzBB radio. He said the shift of the winds to southwest will likely occur between now and the first week of June. Mendoza noted the rainy season in the Philippines usually starts between the last week of May and the first week of June. “Nagkaroon tayo ng cases na ganoon (late ang start) pero bihirang bihira,” he said. Tuesday outlook For Tuesday, PAGASA said the diffused tail-end of a cold front is affecting Northern and Central Luzon, while the inter-tropical convergence zone is affecting Southern Mindanao. “Metro Manila and the regions of Ilocos, Cordillera, Cagayan Valley, Central Luzon, CALABARZON and Zamboanga Peninsula will experience cloudy skies with light to moderate rain showers and thunderstorms,” it said in its 5 p.m. bulletin. It added the rest of the country will have “partly cloudy to at times cloudy skies with isolated rain showers or thunderstorms mostly over the western section.” PAGASA also said light to moderate winds from the southeast to south will prevail over Luzon and Read More …

PAGASA: Rain over Mindanao, 38-degree Celsius weekend for Central Luzon

 News
May 092013
 
PAGASA: Rain over Mindanao, 38-degree Celsius weekend for Central Luzon

Satellite Image as of 7:30 a.m, 9 May 2013. | Weather Central Central Luzon is in for scorcher of a weekend as temperatures as high as 38 degrees Celsius was forecast. Meanwhile, rain was projected over parts of southern Luzon, western Visayas and Mindanao due to the inter-tropical convergence zone. PAGASA forecaster Ricky Fabregas on Friday said that while the ITCZ would be affecting Mindanao, the easterlies or warm winds from the east will be affecting the rest of the country. “Sa Election Day, ang Mindanao may high probability ng paulan dahil sa ITCZ. Sa Luzon at Visayas, mababa ang probability, mga isolated rain showers and thunderstorms,” Fabregas said in an interview on dzBB radio. He also said temperatures will be hot in Luzon on Election Day, at about 26 to 35 degrees Celsius. Visayas and Mindanao may expect cooler weather at 25 to 33 degrees Celsius. 38-degree Celsius weekend PAGASA’s extended outlook indicated temperatures of up to 38 degrees Celsius in Angeles and Olongapo Cities in Central Luzon. It said the two cities may expect temperatures of 25 to 37 degrees Celsius Friday, and 25 to 38 degrees Celsius Saturday and Sunday, before settling to 25 to 37 degrees Celsius on Monday. Metro Manila may expect temperatures of 25 to 35 degrees Celsius Friday and Saturday. Tuguegarao City may expect temperatures of 24 to 36 degrees Celsius Friday. Friday weather In its 5 a.m. bulletin, PAGASA said Mimaropa, western Visayas and Mindanao will have cloudy skies with light to Read More …

Nueva Ecija farmers’ association to subsidize SSS payment

 Economy
Feb 092013
 
Nueva Ecija farmers’ association to subsidize SSS payment

MANILA, Philippines – The Social Security System (SSS), the state-run provident fund for private employees, has signed an agreement with a local irrigators association in Nueva Ecija to subsidize farmers’ contributions to the agency. In an agreement signed last month between Deep Well Sumulong Irrigators Association of Nueva Ecija and SSS covering 185 farmers, the association would provide a counterpart amount that would match its members’ monthly SSS contribution. As a result, the monthly contributions of member farmers to the SSS would double, SSS president and chief executive officer Emilio de Quiros Jr. said. “In effect, the subsidy will double the amount of the farmers’ SSS contributions,” De Quiros said. SSS contributions range from P104 to P1,560 every month depending on the member’s monthly earnings. If, for instance, the farmer saves P156 as SSS contribution a month, the association would add P156 as counterpart subsidy, for a total of P312 that will be credited to the farmer’s SSS account. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The subsidy serves as additional motivation for farmers to save up for their future. The more they save, the more they will receive in counterpart funds for their contributions,” De Quiros said. Furthermore, the SSS chief said the arrangement with the association ensures convenient and regular remittance of the farmers’ SSS premiums because the association will do it for them. The association will use the cash incentives granted by the National Irrigation Authority (NIA) to associations that have shown efficient collection of Read More …

PAGASA: Diffused tail-end of cold front to bring rain to parts of Luzon

 News
Jan 312013
 
PAGASA: Diffused tail-end of cold front to bring rain to parts of Luzon

The diffused tail-end of a cold front may bring rain to parts of Northern and Central Luzon on Friday, state weather forecasters said. In its 5 a.m. bulletin, PAGASA said the diffused tail-end of a cold front is particularly affecting the Northern Luzon area. “Cagayan Valley, Central Luzon and the regions of Ilocos and Cordillera will experience cloudy skies with light to moderate rain showers and thunderstorms,” it said. Also, Metro Manila and the rest of the country will have partly cloudy skies with isolated rain showers or thunderstorms. Meanwhile, strong to gale force winds associated with easterly and northeasterly winds may affect the northern and eastern seaboards of Luzon and the eastern seaboard of Visayas. “Fishing boats and other small sea crafts are advised not to venture out into the sea while larger sea vessels are alerted against big waves,” it said. — LBG, GMA News