2,800 typhoon-hit families to have new homes before Xmas

 Entertainment
Dec 122013
 
A professional diver dressed as Santa Claus interacts with children while swimming inside a giant aquarium as part of Christmas celebrations at the Manila Ocean Park November 28, 2013. The Philippines, a mainly Roman Catholic country in Southeast Asia, prepares for Christmas early - shopping malls start playing Christmas carols in September and lanterns and fireworks are put up in early December. (MNS photo)

A professional diver dressed as Santa Claus interacts with children while swimming inside a giant aquarium as part of Christmas celebrations at the Manila Ocean Park November 28, 2013. The Philippines, a mainly Roman Catholic country in Southeast Asia, prepares for Christmas early – shopping malls start playing Christmas carols in September and lanterns and fireworks are put up in early December. (MNS photo)

MANILA  (Mabuhay) — Government is stepping up efforts to build homes for some 2,800 families affected by super typhoon “Yolanda” before Christmas.

The Department of Public Works and Highways (DPWH) on Saturday said the construction of 119 bunkhouse units in devastated areas in Eastern Visayas is being fast-tracked for completion on or before December 22.

The bunkhouses will serve as temporary shelter for some 2,856 families displaced by the massive typhoon, which struck central Philippines last November 8.

The DPWH said it is hoping that more bunkhouses will be completed in time for New Year.

While site development and construction activities in 29 different sites are being hampered by sporadic heavy rains, the DPWH assured that private contractors have committed to work double time during good weather to facilitate the completion of the bunkhouses.

Upon completion, the DPWH will turn over the bunkhouses to the Department of Social Welfare and Development (DSWD) for distribution to beneficiaries. (MNS)

Phl bourse maintains losing streak

 Economy
Nov 252013
 
Phl bourse maintains losing streak

MANILA, Philippines (Xinhua) – The Philippine stock market retreated for the sixth time toMonday as investors continued to unload their shares over fears that the local equities market’s fortune has been reversed. The bellwether Philippine Stock Exchange index is threatening to break below the 6,000-level after shedding another 1.32 percent, or 80.58 points, on Monday to settle at 6,004.26. Similarly, the all-share index retreated by 0.97 percent, or 35.96 points, to 3, 681.67. Trading volume reached 552.94 million shares worth P7.16 billion ($163.4 million) with 92 stocks declining, 64 advancing, and 28 were unchanged. Of the six counters, only the financials and the mining and oil sectors bucked the trend. “The conviction that pushed the market to 31 fresh all-time records in the first five months of the year has completely evaporated and fears that the bull-market has probably reached a point of reversal begins to spread,” said analyst Justino Calaycay of Accord Capital Equities Corp. The analyst noted that the composite index is just a couple hundred points above the 2012 close and any further drops will wipe out all the year’s gains. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Calaycay said there is an increasing number of “unbelievers” and that any further slide will pull down the index to the 5,812. 73-mark. This, he said, will strengthen the bears’ claims. On the other hand, a recovery that restores the index to at least between the 6, 200-6,300 range should lend some credence to the bull’s proposition Read More …