Sterling Bank introduces 1st local dollar-based prepaid card

 Economy
Dec 202013
 
Sterling Bank introduces 1st local dollar-based prepaid card

MANILA, Philippines – Sterling Bank of Asia (Sterling Bank) is introducing the first locally-issued dollar-based currency prepaid card. The thrift bank has partnered with Visa International for the use of the ShopNPay US Dollar Visa Prepaid Card, which has an embedded EMV chip. An EMV card has an embedded microprocessor chip that store and protect cardholder data. EMV actually stands for Europay, Mastercard, and Visa. “Compared with existing magnetic stripe cards, the computing power of the chip ensures security and global interoperability so that Visa cards can be accepted around the world,” Lamberto R. Villena, Sterling Bank president and chief executive officer, said. Villena added that Sterling Bank is constantly developing innovative products to fulfil the needs of its clients. “The ShopNPay US Dollar Visa Prepaid card is a convenient and a secure way for our clients to manage funds when travelling abroad. It also makes shopping overseas a seamless experience,” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 One of the major concerns of travellers is the fluctuations in exchange rate, which can be answer by an EMV enabled card. No currency fluctuation for US dollar transactions will be experienced by cardholders as the US dollar exchange rate is locked-in at the time of card load, thus giving cardholders complete control over their travel funds. The ShopNPay US Dollar Visa Prepaid Card reduces the risk of carrying large amounts of cash when travelling. It can be used to make purchases worldwide. Visa is accepted by millions Read More …

US sending $25M in new typhoon aid to Philippines

 News
Dec 172013
 
US sending $25M in new typhoon aid to Philippines

US committed to helping PHL in security – Kerry. US Secretary of State John Kerry answers questions during a joint press conference with Foreign Affairs Secretary Albert del Rosario after their bilateral meeting in Pasay City on Tuesday, December 17. Kerry, in the country for a two-day visit, said the US is committed to helping the Philippines address its most pressing security challenges. Danny Pata TACLOBAN — The United States is providing nearly $25 million in additional humanitarian aid to help the Philippines deal with the enormous devastation and deaths wrought by Typhoon Yolanda (Haiyan) last month, US Secretary of State John Kerry said Wednesday after touring the worst-hit region. Kerry flew to central Tacloban City, where he was overwhelmed by the vast landscape of wrecked villages that he saw. He visited a food-distribution center run by USAID and government welfare officers, talked with officials and consoled survivors. “This is a devastation unlike anything that I have ever seen at this scale,” Kerry said at a temporary USAID headquarters in Tacloban. “It is really quite stunning,” he said. “It looks like a war zone and to many people it is.” The new food aid, shelter materials, water and other supplies he announced for typhoon-lashed families bring the total US assistance package to $86 million to one of its closest Asian allies. One of the most ferocious typhoons to hit on record, Yolanda left more than 6,000 people dead and nearly 1,800 others missing. It damaged or swept away more than 1.1 million Read More …

Kerry arrives in Tacloban, media kept away

 News
Dec 172013
 
Kerry arrives in Tacloban, media kept away

US committed to helping PHL in security – Kerry. US Secretary of State John Kerry answers questions during a joint press conference with Foreign Affairs Secretary Albert del Rosario after their bilateral meeting in Pasay City on Tuesday, December 17. Kerry, in the country for a two-day visit, said the US is committed to helping the Philippines address its most pressing security challenges. Danny Pata US Secretary of State John Kerry arrived before noon in Tacloban City, one of the areas hit hardest by super typhoon Yolanda (Haiyan) last month. Security was tight at the Tacloban City airport as Kerry and his aides alighted from the plane, radio dzBB reported. Media representatives were kept at a distance and could not follow Kerry and his party, the report said. Kerry and his party proceeded to the Department of Social Welfare and Development hub in Tacloban after arrival, state-run Philippine Information Agency reported. The Department of Foreign Affairs on Monday said Kerry will oversee Washington’s ongoing relief efforts in Tacloban in the Visayas. Kerry will also meet the victims of Yolanda as well as those involved in the relief effort, Foreign Affairs spokesman Raul Hernandez said. Kerry arrived in the Philippines Tuesday and met with Foreign Affairs Secretary Albert del Rosario. He also paid a courtesy call on President Benigno Aquino III in Malacañang. —KG, GMA News

Cemeteries showcase close PHL-US ties – Kerry

 News
Dec 172013
 
Cemeteries showcase close PHL-US ties – Kerry

US committed to helping PHL in security – Kerry. US Secretary of State John Kerry answers questions during a joint press conference with Foreign Affairs Secretary Albert del Rosario after their bilateral meeting in Pasay City on Tuesday, December 17. Kerry, in the country for a two-day visit, said the US is committed to helping the Philippines address its most pressing security challenges. Danny Pata US Secretary of State John Kerry laid a wreath Tuesday at a cemetery for US and Filipino war dead, and said it symbolized the countries’ close ties.  Kerry, a Vietnam war veteran, said he was “honored” to lay the wreath at the American Cemetery in a Manila suburb, which contains the remains of over 16,600 Americans and 570 Filipinos who died fighting the Japanese during World War II. “That is the largest cemetery in which Americans are buried from World War II. It is a remarkable place and it is a humbling tribute to the links between us in our struggle for freedom,” he said during a two-day visit to the Philippines. Kerry also cited a newly signed agreement under which the two countries will cooperate to upgrade and maintain a run-down veterans’ cemetery at the former US Clark airbase north of the capital. Under the agreement, the United States will provide five million dollars to rehabilitate the Clark Veterans’ Cemetery, which holds the remains of about 8,600 Filipinos and Americans who died fighting under the US flag from the turn of the century to Read More …

US, Manila ink pact to repair ash-covered cemetery

 News
Dec 162013
 
US, Manila ink pact to repair ash-covered cemetery

Associated Press 7:55 pm | Monday, December 16th, 2013 AP FILE PHOTO MANILA, Philippines — U.S. and Philippine officials signed an agreement Monday for Washington to restore a cemetery north of Manila where the graves of thousands of American service members and dependents have been covered in ash since Mount Pinatubo’s 1991 eruption. The accord calls for the American Battle Monuments Commission to repair and maintain the Clark Veterans Cemetery for at least 10 years. President Barack Obama had earlier signed a law to finance the Philippine-owned cemetery’s upkeep. The U.S. Air Force hastily abandoned Clark Air Base, where the cemetery is located, after Mount Pinatubo’s eruption. In 1994, American veterans were shocked to find the 7-hectare (17-acre) cemetery covered in ash and weeds with half of its old steel fence looted. They cleaned up the graves but have since struggled to maintain the cemetery through volunteer work and donations. Although the cemetery looks tidier today, it is still covered by about a foot (30 centimeters) of ash, partially burying tombstones and obscuring names, dates and epitaphs. American veterans, who have been campaigning to prod the U.S. government to take charge of the cemetery’s repair and maintenance, welcomed the agreement, which was signed by U.S. Ambassador Philip Goldberg and Arnel Casanova, president of Manila’s Bases Conversion and Development Authority, “This brings to a close a three-year campaign effort to get the U.S. cemetery to be remembered,” said former Navy Capt. Dennis Wright, who saw action in Vietnam and is now Read More …

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 …

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 …

BSP stands ready to curb peso volatility

 Economy
Dec 112013
 
BSP stands ready to curb peso volatility

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said yesterday it stands ready to curb any excessive volatility in the peso’s movements against the dollar. BSP Governor Amando M. Tetangco Jr. said this amid the weakening streak of the peso, which went back to 44-to-a-dollar level last Monday. “As we understand it, the peso weakness over the past couple of days is partly due to real demand for specific import requirements and partly due to some portfolio adjustment of funds in reaction to Fed (US Federal Reserve) tapering concerns,” Tetangco said. “We are closely monitoring developments, and, as is our policy, will maintain a strategic presence in the market, as needed to curb excessive volatility in foreign exchange rate movements,” he added. The peso on Wednesday closed at a 44.12 per dollar, strengthening from Tuesday’s finish of 44.29:$1. Tuesday’s close was the lowest since Sept. 6. Eduardo Francisco, president of BDO Capital & Investment Corp., said foreseen rise in remittances due to the Christmas may partly strengthen the peso before the year ends. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “[I] believe it will remain weak but hope it will be back to 43.50:$1 level by year end as more remittances come in,” he said. Historically, the volume of remittances are highest during December due to the Christmas season. But the central bank earlier noted the volume may even be higher this year as Filipinos abroad may send more to their families following the devastation of recent Read More …

Pacquiao denies he's a green card holder

 News
Dec 102013
 
Pacquiao denies he's a green card holder

Filipino boxing icon and Sarangani Rep. Manny Pacquiao, currently facing a tax evasion case, has denied that he is a green card holder, or that he even applied for one. “Mastercard lang meron ako. Mastercard lang ang hawak ko. Hindi ‘yun totoo na may green card ako,” Pacquiao said in a chance interview Tuesday, a day after journalist and blogger Raissa Robles raised the possibility that the world reknowned boxer may be a green card holder. Pacquiao said he only carries a P1 visa that allows him to professionally fight in the United States. “Meron akong P1, para pwede kang lumaban, kumita doon,” he said. He added that he has no desire to leave the Philippines, and has in fact rejected his children’s request to study in the US. “Ayaw ko nga pag-aralin mga anak ko sa America,” Pacquiao said. “Yung mga anak ko nga gusto mag-aral sa America, hindi ko pinayagan.” God bless them But while exasperated over the issue of his supposed immigrant status, Pacquiao said he wishes no ill over those who have insinuated that he is a green card holder. “Ipasadiyos ko na lang. May Panginoon naman tayo. We have no right to revenge. Ang Panginoon lang ang may karapatan,” he said. The issue about Pacquiao applying to be a US immigrant erupted days after his tax woes played out in the media. Robles, in her blog, said she was tipped off by a commenter that Pacquiao was mentioned as a  “successful (US) immigrant” on the Read More …

Kerry to tour typhoon-hit Philippines, Vietnam

 News
Dec 092013
 
Kerry to tour typhoon-hit Philippines, Vietnam

US Secretary of State John Kerry is to make his first visit to the Philippines since taking office to see first-hand the damage left by last month’s typhoon, and will also tour Vietnam where he fought during the war. Kerry’s next trip from December 11 to 18 will start on Wednesday, his 70th birthday, when he flies to Israel and Ramallah. But he will then travel to Ho Chi Minh City and Hanoi, before heading to Manila, and the storm-hit city of Tacloban, a US official said Monday. Since becoming the top US diplomat in February, Kerry has dreamed of returning once again to the country where his political activism was forged in the horrors of the Vietnam War. He had also planned to visit the Philippines back in October, but the trip had to be cancelled at the last minute as Tropical Storm Nari bore down on the Southeast Asian nation. “Within the Asia-Pacific rebalance, Southeast Asia holds special importance, and the secretary’s travel to Vietnam and the Philippines demonstrates the enduring US commitment… to the region,” State Department spokeswoman Jen Psaki said. It will be Kerry’s fourth trip to Asia while in office. In Ho Chi Minh, the city once known as Saigon which fell to the communist North Vietnam forces in April 1975, Kerry will “underscore the growth of our bilateral trade relationship and the empowering role of education.” He would also visit the Mekong Delta to show how “Americans and Vietnamese can work together on critical Read More …

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