Feed aggregator

Beijing’s aspirations to become an economic and technological superpower pose the ‘greatest risk’ to the UK, according to a long-awaited parliamentary report.

The Department of Education might implement changes to the Philippines’ grading and recognition system as part of the ongoing review of the country’s basic education system.

Drag queen Pura Luka Vega, in a viral performance, dressed up as Jesus Christ and danced to a punk rock version of the Catholic hymn “Ama Namin.”

To better monitor the condition of overseas Filipino workers (OFWs) anywhere in the world, the Department of Migrant Workers said it is looking at the possibility of geo-tagging them using a soon-to-be launched DMW mobile app.

The Supreme Court has unanimously dismissed consolidated petitions challenging the constitutionality of COVID-19 regulations issued by the Philippine government, saying the petitions violated “the doctrine of hierarchy of courts.”

Wireless giant Globe Telecom Inc. has introduced another option on how to register a SIM using e-wallet GCash to ensure that all of its subscribers beat the July 25 deadline.

Persons deprived of liberty will contribute to food security efforts as the Bureau of Correction vast idle lands will be used for agricultural development.

The lines on the map shown in the movie “Barbie” are not considered an actual depiction of China’s nine-dash line claim and are merely a fictitious path, the Department of Foreign Affairs said yesterday.

The Bureau of Internal Revenue under Commissioner Romeo Lumagui Jr., has increased its collection by almost 10 percent for the first five months of this year, resulting in the attainment of its collection target for the period.

President Marcos witnessed the signing of three contract packages of the South Commuter Railway Project on July 13, which are seen to create 3,000 jobs once the civil works in the sections they cover start.

Australia has been a steadfast supporter of the 2016 Arbitral Award and believes all claimants should adhere to the ruling as “final and binding” with the need for all to adhere to international law, Australia’s top diplomat in the country said.

THE Mactan-Cebu International Airport has ended the first half of 2023 with 4.68 million local and international passengers flying through the country’s second busiest airport.

In the first semester of 2023, MCIA’s passenger growth more than doubled to 4.68 million, as it rose 129 percent from 2.12 million passengers recorded in the same period last year, official data obtained by SunStar Cebu showed.

From January to June 2023, domestic and foreign passengers who traveled through MCIA reached 3.77 million and 1.09 million, respectively.

This is a major sign that the air travel industry has significantly recovered post-Covid-19 pandemic, as additional new routes are expected to open from Cebu to local and foreign destinations.

Return of China flights

MCIA recently welcomed new flights from Cebu to Narita (Tokyo), Taipei and Hong Kong.

This month, Cebu is expected to see the return of direct flights from Cebu to China, with China Eastern resuming its Cebu-Shanghai route on July 15.

This marks a significant flight resumption launch as it may usher in the return of Chinese tourists to Cebu, who were among the island’s top visitors pre-pandemic.

According to sources at the airport, AirAsia will also likely revive its direct route from Cebu to Shenzhen in southern China this September.

Earlier, Athanasios Titonis, the new chief executive officer of MCIA, said the new routes launched at MCIA not only affirm the airport’s unwavering dedication to offering passengers a wide range of travel options and seamless connectivity but also hold the promise of revitalizing tourism, fostering stronger business relationships and mutually benefiting both destinations.

“With this collaboration, we are poised to create new opportunities and enrich travel experiences of our valued passengers,” he said in an earlier statement, following the launch of AirAsia’s direct flight from Cebu to Tokyo. (CSL)

THE Philippine economic team, headed by Finance Secretary Benjamin Diokno, has kicked off the US-Canada non-deal roadshow (NDR) with a series of meetings with American asset management firms and fixed income investors on July 10, 2023 at the Citi Headquarters in New York City.

Diokno, Bangko Sentral ng Pilipinas (BSP) Gov. Eli M. Remolona Jr., National Economic and Development Authority Secretary Arsenio M. Balisacan, Department of Budget and Management Secretary Amenah F. Pangandaman, and Treasurer of the Philippines Rosalia V. de Leon led in-depth discussions on the country’s priority high-growth sectors, opportunities in renewable energy and green investments, environmental, social and governance issuances, overall growth outlook, and the Maharlika Investment Fund.

Composed of roundtable discussions targeting fixed-income and infrastructure funds, the NDR aims to pique interest among potential investors for the country’s priority sectors, particularly infrastructure and green energy.

The economic managers are scheduled to continue roundtable meetings with investors and will host a larger Philippine Economic Briefing (PEB) at the Fairmont Royal York in Toronto, Canada on July 13, 2023 (Eastern Daylight Time).

“The PEB serves as a platform for the economic team to brief international businesses and financial communities on the latest developments in the Philippines’ robust economic performance, investment opportunities, as well as the PBBM administration’s development plan,” the Department of Finance (DOF) said in a statement.

Diokno, Remolona, Balisacan and Pangandaman will each deliver presentations to apprise investors of the country’s economic state.

Afterwards, a panel discussion on the Philippine economic outlook and investment opportunities will be moderated by BSP Managing Director Antonio G. Lambino II and DBM Undersecretary Margaux Marie V. Salcedo.

From the private sector, Rahul Hora (president and chief executive officer of Manulife Philippines), Thi Be Nguyen (executive director of Canada-Asean Business Council), and Benedicto Sison (CEO and country head of Sun Life Philippines) will be sharing their views on the Philippine economic development agenda and investment climate.

The NDR is jointly organized by the BSP-Investor Relations Group, Department of Finance, BofA Securities, Canada-Asean Business Council, Global Affairs Canada, Citi, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, Philippine Embassy in Canada, Standard Chartered Bank, Sun Life, and UBS. (CSL with PR)

MEGAWIDE Construction Corp. has acquired PH1 World Developers Inc. (PH1) from Citicore Holdings Investment Inc. (CHII) for P5.2 billion, marking its foray into the real estate development sector.

The company eyes to diversify beyond its core construction and infrastructure ventures.

In a disclosure to the Philippine Stock Exchange on Thursday, July 13, 2023, Megawide announced its shareholders approved the acquisition of 100 percent of PH1 from CHII during its annual stockholders’ meeting on July 12.

“The move is a natural progression of our construction and engineering unit into higher value-generating businesses and gives more momentum to our forward integration initiatives within the Group,” said Megawide chairman and chief executive officer Edgar Saavedra, noting that progressing into higher value-added businesses has always been part of Megawide’s growth strategy when it started as a construction firm over two decades ago and diversifying into infrastructure development.

Megawide cites its public-private partnership projects such as the Mactan-Cebu International Airport and Parañaque Integrated Terminal Exchange, which “unlocked other revenue streams that generated greater value for the company on top of construction.” (CSL)

SECURITY Bank has successfully issued on Thursday, July 13, 2023, its fixed rate peso corporate business bonds due 2025.

The bank raised P18.5 billion worth of bonds at 6.4250 percent per annum, with a tenor of 1.5 years.

This is the largest issue size of the bank to date.

Due to strong demand for the bonds, the bank exercised its oversubscription option and accepted offers above its minimum P8 billion issue size.

The bonds were listed Thursday at the Philippine Dealing and Exchange Corp. to provide secondary market liquidity to investors who would like to trade the instruments.

Security Bank offered the bonds to diversify its funding sources and support its lending activities. (PR)

ALTERNERGY Holdings Corp. on Thursday, July 13, 2023, announced that it has secured three contract projects from the second round of Department of Energy’s (DOE) Green Energy Auction (GEA) 2 program.

These projects are the Alabat Wind Power Project in Quezon Province, Tanay Wind Power Project in Rizal Province, and the Apulid Solar Project in the Province of Tarlac.

Once operational, the GEA 2-winning projects will contribute a significant steady flow of revenues for the company, accelerating the achievement of its goal of 1,096 gigwatt hours of annual generation from renewable power, and boost economic activities of the projects’ host communities and create hundreds of renewable energy jobs.

Under the GEAP, winning bidders will sign a 20-year Renewable Energy Payment Agreement with the National Transmission Company. (CSL)

Nestled amidst the breathtaking beauty of Mactan Island, Savoy Hotel Mactan stands tall as a beacon of excellence in the Philippine hospitality industry. This extraordinary success is a testament to the unwavering commitment and exemplary leadership of General Manager Josef Victor Chiongbian and the culinary expertise of Executive Chef Coke Semblante.

The recent International Travel Awards held on June 17, 2023, brought yet another triumph for Savoy Hotel Mactan. The hotel received the award, “Best Airport Hotel 2023,” further adding to its growing list of accolades. This remarkable achievement highlights the hotel’s exceptional service, world-class facilities, and unrivaled guest experiences.

At the helm of Savoy Hotel Mactan’s success is General Manager Chiongbian, a seasoned professional with over 15 years of experience in the hospitality industry. Chiongbian’s visionary leadership and unwavering dedication have been recognized at the esteemed CMO Asia Awards, where he was honored as one of the best general managers in the Philippines.

“I’ve come to realize that when you consistently perform well and treat others with kindness, you don’t have to seek recognition. Your actions speak for themselves, and people will naturally speak highly of you,” Chiongban shared. “My primary responsibility is to foster the growth of future leaders within our organization. I consistently advise our department heads to prioritize the implementation of a robust succession plan. Additionally, I place great emphasis on the concept of ‘Flexible Hospitality,’ and consistently going above and beyond to exceed guest expectations.”

Complementing Chiongbian’s leadership is the culinary artistry of Executive Chef Semblante. With a rich background that includes training in a Michelin-starred restaurant and extensive experience in the hotel industry. His passion for innovation and his dedication to using locally sourced ingredients have garnered him the title of one of the best chefs in the Philippines. Chef Semblante’s expertly curated menus, which range from exquisite á la carte options to delectable buffet selections, have delighted guests and earned the hotel numerous accolades.

“My main culinary focus is to mentor and nurture young talents, shaping them into exceptional culinary prospects,” Chef Coke shared. “Furthermore, I aspire to elevate the essence of local cuisine while preserving its distinctive identity. To accomplish this, I embark on immersive journeys across the Philippines, immersing myself in genuine experiences that fuel my passion for embracing diverse cultures. This profound appreciation for heritage and traditions resonates deeply within my cooking, allowing me to create dishes that truly reflect the soul of our rich culinary heritage.”

Whether it’s for business or leisure, Savoy Hotel Mactan offers an unparalleled experience, where personalized service, exquisite cuisine, and a warm tropical ambiance come together to create moments that will be cherished forever.

Savoy Hotel Mactan continues to set the bar high, drawing inspiration from the visionary leadership of Chiongbian and the culinary brilliance of Semblante. Savoy Hotel Mactan is truly a gem that beckons travelers from around the world to indulge in an extraordinary experience of luxury, comfort, and gastronomic delight.

After the successful inauguration of its vessel on April 22, 2023, Lite Shipping Corporation - Lite Ferries continues to push the boundaries of innovation by introducing state-of-the-art ships to its fleet with its newest vessel, the M/V Lite Ferry Six.

This newest addition to the fleet was blessed and inaugurated at the Port of Pulangbato, Bogo City, Cebu, on July 8, 2023. Its specifications are similar to the M/V Lite Ferry Seven’s, which was inaugurated three months prior, April 22.

In his speech at the inauguration ceremony, Lucio Enerio-Lim Jr., president and chief executive officer of Lite Ferries, thanked God and everyone who attended the event, and emphasized: “We are just stewards of this boat, with our vision of providing a safe and comfortable transportation for our passengers.”

Lim also acknowledged the presence of various representatives from the Maritime Industry Authority, Cebu Port Authority, and the Philippine Coast Guard. Additionally, this grand launch event was graced by the presence of the Department of Transportation Undersecretary Elmer F. Sarmiento, the principal guest of honor.

Operating as one of the youngest fleets in the country, with a swift service speed of 13 knots, the M/V Lite Ferry Six reduces sea travel time—from 10 hours to seven—in its Bogo City, Cebu, to Matnog, Sorsogon route.

The Bogo to Matnog route departs at 11:59 p.m. on Tuesdays, Thursdays, and Saturdays, while the Matnog to Bogo route departs 11:59 p.m. on Mondays, Wednesdays, and Fridays.

The inauguration of the M/V Lite Ferry Six is a major event for Lite Shipping Corporation and for the City of Bogo. The ship is a symbol of the company’s growth and success, and it is expected to boost tourism in the region.

Lite Ferries is now connecting the island of Cebu to the rest of the country. Operating in 32 destinations, Lite Ferries bridges the provinces of Sorsogon, Samar, Northern Samar, Leyte, Southern Leyte, Cebu, Bohol, Negros Oriental, Negros Occidental, Siquijor, Surigao del Norte, Agusan del Norte, Misamis Oriental, Misamis Occidental and Zamboanga del Norte.

July 13, 2023 10:53 PM

The meeting was meant to open channels of communication to clarify US interests across a wide range of issues.

July 13, 2023 10:50 PM

The announcement ends speculation that his administration was seeking to extend its term.