Remittances sustain growth in November, but expect Omicron impact
Remittances sustain growth in November, but expect Omicron impactThe growth was markedly faster than the 2.4% recorded in the previous month. MANILA, Philippines — Money sent home by overseas Filipinos continued to grow a month before the holiday season, but growth is expected to weaken amid a worldwide Omicron variant onslaught. In the first 11 months of the year, cash remittances grew 5.2% year-on-year to $28.43 billion, faster compared with the same period in 2020. It also seems likely that the Philippines is headed to a significant rebound in year-on-year remittance growth for 2021," Opiniano said. For Jun Neri, lead economist for Bank of the Philippine Islands, remittances could be dampened by the Omicron surge once January figures come in.
Source:Philippine Star
January 14, 2022 07:02 UTC
Forex buffer hits 12-month high of $108.9 billion
MANILA, Philippines — The country’s foreign exchange buffer inched up by 1.1 percent to a 12-month high of $108.89 billion in end-December, the Bangko Sentral ng Pilipinas (BSP) said. This was the highest gross international reserves (GIR) level since hitting an all-time high of $110.12 billion in December 2020. However, the buffer fell below the lowered $111 billion GIR target for 2021. In August last year, the Philippines received 1.96 billion special drawing rights (SDR) allocation worth $2.78 billion from the International Monetary Fund, helping boost the country’s foreign exchange buffer. Ricafort said the GIR level was also boosted by strong earnings from the business process outsourcing sector and the entry of proceeds from fund-raising activities.
Source:Philippine Star
January 14, 2022 06:24 UTC
Metro amid ‘severe outbreak;’ daily PH count hits new peak
The Department of Health (DOH) on Thursday reported 34,021 COVID-19 cases, the highest single-day tally of infections since the onset of the pandemic two years ago. This broke the previous highest daily case count of 33,169 reported on Monday. Independent pandemic monitor OCTA Research said the National Capital Region (NCR) continued to be in a “severe outbreak” as its COVID-19 average daily attack rate (Adar) climbed above 110. An acceptable attack rate is below 10,” OCTA Research fellow Guido David said in a post on Twitter. ADVERTISEMENTThe DOH also reported 4,694 recoveries, which brought the total number of survivors to 2,802,286.
Source:Philippine Daily Inquirer
January 14, 2022 05:27 UTC
Five arrested in HK$5.2m meat smuggling bust
Customs officers have on Thursday arrested five people in waters off Lantau for allegedly attempting to smuggle HK$5.2 million worth of frozen meat into the mainland. Officer said on Friday that they suspected the HK$5.2 million haul - including pig maw and tripe, was being smuggled to the mainland amid high demand for meat ahead of the Lunar New Year. A cargo vessel was intercepted during the operation as the suspects were transferring the meat from a speedboat - which sped off into mainland waters when officers moved in on them. An investigation is ongoing and all arrestees have been released on bail pending further investigation, according to Customs. Wong also said he was worried about the quality of the meat being transported, given the boat officers stopped on Thursday was without any cold storage.
Source:The Standard
January 14, 2022 05:21 UTC
Philippines' dollar reserves fall below BSP forecast in 2021
Philippines' dollar reserves fall below BSP forecast in 2021Foreign reserves are assets held mostly as investments in foreign-issued securities, gold as well as foreign currencies like dollar and euro. Being the lender of last resort, the BSP manages reserves as a stand-by fund to help the economy stay afloat in times of external shocks. MANILA, Philippines — Dollar reserves continued their climb in December as the national government's foreign currency deposits pushed levels up, but the year-end figure missed the Bangko Sentral ng Pilipinas' projection. What’s newGross international reserves amounted to $108.9 billion as of December 2021, inching up 1.1% month-on-month, the central bank reported on Thursday. Why this mattersForeign reserves are built mostly of investments in gold and foreign currency that could protect the Philippine economy from external shocks.
Source:Philippine Star
January 14, 2022 05:19 UTC
(Central Station) For safety or for warmth? Bus passenger wears four masks
With the spread of the Omicron variant, a lady decided to play safe – perhaps too safe – by wearing at least four masks at once while taking a bus. The netizen who posted the photo, which quickly went viral on Facebook, said he was amused by what he saw. “Is the lady too scared of Covid or is she trying to use all the masks she has in excess?” the netizen asked. Some netizens doubted whether wearing multiple masks really works, while some worried the lady would be unable to breathe. The picture came as Professor Yuen Kwok-yung advised citizens on Wednesday to wear two masks at once to prevent contracting the Omicron variant.
Source:The Standard
January 13, 2022 22:41 UTC
Preparing 'Shawarma Rice' at home
I still remember the store beside my university campus where I tasted my first shawarma one afternoon. One way that this has been localized is through a dish called shawarma rice. Of course, it is not a Filipino meal if it does not have rice in it. To make the turmeric rice: cook the rice as you would and add a teaspoon of turmeric for color. To assemble: on one side of the tray add your turmeric rice and add the ground beef on the other.
Source:Manila Times
January 13, 2022 22:28 UTC
If Bongbong Marcos wins, P328B ‘ill-gotten’ wealth, unpaid taxes may not be recovered – Carpio
MANILA, Philippines — The P328 billion worth of “ill-gotten” wealth and unpaid taxes from the Marcos family may no longer be recovered if former senator Ferdinand “Bongbong” Marcos Jr. gets elected as president, former Supreme Court associate justice Antonio Carpio said Thursday. If Bongbong Marcos becomes president, I do not expect the P125 billion to be recovered anymore. He’ll probably abolish the PCGG,” Carpio said. Aside from this, Carpio said the Marcos family also owes the government P203 billion in estate tax. “There’s a bigger problem because he owes the government P203 billion as of now for the estate tax.
Source:Philippine Daily Inquirer
January 13, 2022 20:10 UTC
The Laudicos share recipe for success
Culinary power couple chef Jackie and Rolando Laudico remain strong despite challenges in their food business. CONTRIBUTED PHOTOStarting a food business is an ultimate dream for many, and running one is surely not an easy feat. While many entrepreneurs continue to face struggles, chefs Rolando "Lau" and Jacqueline "Jackie" Laudico remain grateful as they overcame obstacles in running their food business. Adapting to changing timesFinding success in the food industry is undeniably more challenging, but the Laudicos responded with constant adaptation and practical reinvention. Amidst the hurdles, they remained grateful that being in the food industry means their services are still essential to people.
Source:Manila Times
January 13, 2022 16:56 UTC
2 Pinays enter Forbes’ 50 over 50 Asia list
2 Pinays enter Forbes’ 50 over 50 Asia listMANILA, Philippines — Two Filipinas made it to Forbes’ 50 over 50: Asia 2022, a list of women “who are shattering age and gender norms all over the globe.”Joining the list of age-defying list of 50 women are Converge president and co-founder Maria Grace Uy and Nobel Peace Prize laureate and Rappler CEO Maria Ressa. Forbes cited Uy’s key role in growing Converge into one of the biggest fixed broadband operators in the Philippines today. Uy founded Converge together with her husband Dennis Anthony Uy in 2007 to provide world-class internet connectivity to Filipinos. “This recognition from Forbes Asia is an honor and proves to women worldwide the value they bring to their field, at any age. On Ressa, Forbes cited her for her “sharp coverage of Philippine president Rodrigo Duterte’s drug war” which has been met with consistent threats from the Philippine government, including the filing of 10 arrest warrants for cyber libel among other complaints.
Source:Philippine Star
January 13, 2022 16:21 UTC
Soothingly sweet and delightfully salty
Seattle’s Best’s new Salted Caramel Deluxe Collection highlights caramel fudge, dark chocolate sauce and sea salt for a sweet and salty blend. Then give Seattle's Best Salted Caramel Deluxe Collection a shot. This new flavor has a triple treat of luscious beverages that blend the best of both worlds — soothingly sweet and delightfully salty. Seattle's Best Salted Caramel Deluxe Collection is available in Hot Salted Caramel Mocha, Iced Salted Caramel Mocha and Salted Caramel Javakula. The Salted Caramel Deluxe Collection is available in all Seattle's Best Coffee branches nationwide.
Source:Manila Times
January 13, 2022 16:21 UTC
U.S. imposes sanctions on North Koreans, Russian, after missile tests
WASHINGTON – The United States on Wednesday imposed sanctions on six North Koreans, one Russian and a Russian firm it said were responsible for procuring goods from Russia and China for North Korea’s weapons programs, an action that follows a series of North Korean missile launches, including two since last week. The U.S. Treasury said the steps aimed to prevent the advancement of North Korea’s weapons programs and impede its attempts to proliferate weapons technologies. The Treasury Department said the sanctions followed six North Korean ballistic missile launches since September, each of which violated U.N. Security Council resolutions. North Korea’s U.N. mission, Russia and China’s embassies in Washington and the Russian firm did not respond to requests for comment. U.N. resolutions ban North Korean ballistic missile and nuclear tests and impose sanctions.
Source:Philippine Daily Inquirer
January 13, 2022 15:30 UTC
Africa joins race to acquire Pfizer’s COVID-19 Paxlovid pills
Africa’s top public health body said it was in talks with Pfizer about securing supplies of its antiviral COVID-19 pills for the continent, the latest to join the race for a drug seen as a potential game changer in fighting the virus. The Paxlovid medication was nearly 90% effective in preventing hospitalizations and deaths, and data suggested it retains its effectiveness against the Omicron variant, Pfizer has said. Governments around the world are scrambling to buy Paxlovid, while Merck’s Molnupiravir has faced setbacks after disappointing trial data. Nkengasong said obtaining supplies of COVID-19 drugs was one of three key strategies for combating the pandemic in Africa in 2022, along with scaling up vaccinations and testing. Such drugs would be crucial if another highly transmissible variant were to emerge and public health systems become overwhelmed, he said.
Source:Philippine Daily Inquirer
January 13, 2022 13:35 UTC
Man standing dangerously on footbridge returned to safety
A worker climbed outside the fence of a footbridge in Kwai Hing in a desperate bid to pursue outstanding wages. At around 1.08pm Thursday, the man put up a banner on the footbridge on Kwai Fuk Road, which says a government contractor failed to pay him salaries. Pedestrians called the police when they found the worker to have climbed to the other side of the fence, facing heavy traffic beneath the footbridge. Police negotiators arrived at the scene, and fire services put an air cushion underneath the bridge. At 2.56pm, the man returned to a safe location with the assistance of firefighters.
Source:The Standard
January 13, 2022 13:11 UTC
Instagram official: Nadine Lustre shares rumored boyfriend's photo for first time
Instagram official: Nadine Lustre shares rumored boyfriend's photo for first timeIn an image posted on her Instagram account on January 12, 2022, Nadine Lustre posted photo of her and rumored boyfriend Christophe Bariou. MANILA, Philippines — Actress Nadine Lustre shared photos of her with rumored boyfriend Christophe Bariou for the first time in an apparent move to confirm their relationship. In her Instagram account, Nadine posted Polaroid photos of them holding wine and getting cozy together. Christophe is a resort owner in Siargao where Nadine spent most of her time last year. RELATED: Nadine Lustre, rumored BF donate solar panel, relief goods in Siargao
Source:Philippine Star
January 13, 2022 11:07 UTC