Day: June 18, 2023

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GOCC subsidies up in April

The national government’s subsidies to government-owned and controlled corporations (GOCCs) went up by 74 percent in April. Data from the Bureau of the Treasury’s latest cash operations report showed that budgetary support to GOCCs grew to PHP8.9 billion in April from PHP5.1 billion in the same month last year. It reached PHP10.79 billion in March. Of the total amount, PHP3.8 billion was given to the National Irrigation Administration (NIA). NIA is primarily responsible for irrigation development and management. Second on the list of the biggest recipients is the National Food Authority (NFA) with PHP2 billion. The National Housing Authority came in third with subsidies amounting to PHP836 million. BTr records show GOCCs which received more than PHP100 million of subsidies include the Philippine Rice Research Institute (PHP429 million), Philippine Children’s Medical Center (PHP266 million), Philippine Heart Center (PHP178 million), Philippine National Railways (PHP132 million), Philippine Crop Insurance Corporation (PHP134 million), National Kidney and Transplant Institute (PHP125 million), and Lung Center of the Philippines (PHP121 million). For the first four months of the year, the national government’s subsidies to GOCCs amounted to PHP30.2 billion. NIA received the biggest subsidy which amounted to PHP14.06 billion, followed by NFA with PHP3.2 billion.

Source: Philippines News Agency

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S. Koreans’ purchase of Japanese yen up nearly fivefold in May

South Koreans’ combined purchase of the Japanese currency at local banks jumped nearly fivefold in May from a year earlier, data showed Sunday, as more people took advantage of a weaker yen.

The amount of Japanese currency sold at the country’s four major banks came to 30.16 billion yen (US$213 million) in May, soaring from 6.28 billion yen tallied a year earlier, according to the market data.

The increase apparently came as more people took advantage of the weak yen in recent weeks, which fell to an eight-year low against the won. On Friday, the Korean won closed at 903.82 won against 100 yen, marking the highest level since June 2015, when it traded at 905.4 won.

Source: Yonhap News Agency

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17 teams joining Copa Paulino Alcantara

Seventeen clubs from the professional and amateur ranks have finalized their participation in the revamped Copa Paulino Alcantara.
The five Philippines Football League (PFL) clubs that finished the recently concluded season, led by champion Kaya Iloilo, will be joined by three returning teams, three more collegiate squads, and six clubs looking to introduce themselves to the top flight with a bang.
The 17 clubs were divided into three groups during the group draw on Saturday at the Philippine Football Federation headquarters in Pasig City.
Kaya Iloilo was drawn into Group A with returnees Loyola and Air Force, reigning University Athletic Association of the Philippines champion Far Eastern University, and newcomers Inter Manila and Don Bosco Garelli.
Group A has become a must-watch as Loyola and Kaya Iloilo will ekindle their old rivalry that dates back to the United Football League.
The rivalry came to an end in 2018 after Loyola, then known as Meralco Manila, left the PFL after participating in the maiden season just the year before.
Group C, on the other hand, will see the return of Davao Aguilas, although they will play as a collegiate team this time due to a tie-up with University of Makati.
Stallion Laguna, Mendiola, Tuloy, Army, and Adamson complete the said group.
Group B, the only pool consisting of five teams, has Dynamic Herb Cebu, Maharlika Manila, Pilipinas Dragons, Manila Digger, and University of the Philippines.
The Copa will open on July 15 but PFL clubs would start action by August.
The matches will be played at Rizal Memorial Stadium in Manila, University of Makati Athletic Oval and Biñan Football Stadium in Laguna.
PFF official Edwin Gastanes earlier said that the Copa expansion will help develop the players and football in general.

Source: Philippines News Agency

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PBBM guarantees aid for evacuees until Mayon Volcano calms down

President Ferdinand R. Marcos Jr. has expressed relief that displaced families in Albay province are still in ‘good condition,’ despite Mayon Volcano’s continuing unrest.
In his weekly vlog uploaded on his official Facebook page, Marcos said he visited Albay to check on the condition of the evacuees.
‘Pinuntahan din natin ang ating mga kababayan sa Bicol na apektado sa pagputok ng Bulkang Mayon. Ang naabutan naman namin doon ay maayos naman at maganda ang kalagayan ng ating mga evacuee. Kahit papaano ay nabigyan sila ng lugar at nabibigyan sila ng mga tulong (We visited our countrymen in Bicol affected by Mayon Volcano’s unrest. What we saw is the evacuees are in good condition),’ Marcos said.
Marcos also reiterated that the government is ready to provide the necessary assistance to the families who have been displaced because of Mayon’s increasing volcanic activity.
He acknowledged that Mayon’s unrest could last for a few months.
‘Baka tumagal pa ng ilang mga buwan ang kanilang pagka-evacuate hanggang matigil na ang pagputok ng Bulkang Mayon (They may be forced to evacuate for months until Mayon Volcano’s activity stops),’ Marcos said.
‘Kaya pinaghahandaan nating mabuti na kahit tumagal, ay handa ang pamahalaan na bigyan ng tulong doon sa mga na-evacuate sa six-kilometer radius ng Bulkang Mayon (That’s why, we are making sure that if it lasts for months, the government is ready to provide assistance to those who evacuate because they are living within the six-kilometer radius permanent danger zone of Mayon Volcano).’
In a media interview on the sidelines of the International Trade Forum at the Shangri-La The Fort in Taguig City on Thursday, Marcos said all available resources will be tapped to help Mayon evacuees, stressing that the government must be ‘sensitive’ to the needs of the affected residents in Albay province.
Mayon Volcano’s restiveness has forced nearly 18,000 individuals to stay in evacuation centers in the province’s six towns and two cities.
Marcos on Wednesday visited the Guinobatan Community College evacuation center to assess the condition of the displaced families and lead the distribution of government assistance.
In a situation briefing at the Albay Astrodome, Marcos said concerned government agencies must provide relief assistance to Mayon evacuees for 90 days, the estimated maximum period of unrest of the volcano.
Mayon Volcano remains under Alert Level 3.

Source: Philippines News Agency