Another hefty oil price hike set this week
Another hefty oil price hike set this weekGasoline attendant refill the vehicle at the gasoline station along commonwealth avenue in Quezon City (October 11, 2021) while the Petroleum company announced the Oil price hike. MANILA, Philippines — For the seventh straight week, oil firms are raising gasoline prices, this time by P1.30 per liter, diesel prices by P1.50 per liter and kerosene prices by P1.45 per liter. By midweek, oil retreated from multi-year highs due to higher US inventories and the plan to sell oil from its strategic reserves. But at the close, global oil price recovered and surged as the global energy crunch boosted prices to their highest since 2014 and prompted China to demand increased coal production, Reuters reported. “Suspension of excise tax, it needs a law,” Cusi said in a text message to The STAR.
Source:Philippine Star
October 11, 2021 15:56 UTC
FDIs hit 19-month high of $1.26 billion in July
FDIs hit 19-month high of $1.26 billion in JulyBSP Governor Benjamin Diokno said FDIs reached $1.26 billion in July compared to $831 million in the same month last year. BSP Governor Benjamin Diokno said FDIs reached $1.26 billion in July compared to $831 million in the same month last year. From January to July, Diokno said the inflow of foreign direct investments soared by 43 percent to $5.56 billion from $3.88 billion a year ago. Due to intermittent lockdowns, the BSP is now looking at a net FDI inflow of $7 billion instead of $7.5 billion this year, and $7.5 billion instead of $8.5 billion in 2022. For the coming months, Ricafort said FDIs could may still continue to go up amid better global economic prospects as some developed counties that are the major sources of FDIs move toward herd immunity.
Source:Philippine Star
October 11, 2021 15:56 UTC
Solitude, solicitation, survival
Solitude, solicitation, survivalOne of the most well-worn sayings in the modern world is that “no man is an island.” While we are each born with different talents and affinities, possess different skills and resources, no human can be truly self-sufficient. Help from those around us – whether from those we love, or those who sympathize with us, or even those simply doing their jobs – is essential to our survival. This is one of the reasons I helped establish the Hope for Lupus Foundation. But to do this, to help others, we will continue to ask for help ourselves. And I never would have been able to do that, never would have been able to survive, without being able to ask for help.
Source:Philippine Star
October 11, 2021 15:56 UTC
Easing of travel protocols to be applied retroactively
Easing of travel protocols to be applied retroactivelyMANILA, Philippines — The new testing and quarantine protocols for passengers coming from countries and territories included in the “green” and “yellow” lists will apply to those who may have arrived in the Philippines on or before Oct. 8. 142, which enumerated the updated protocols for persons coming from “green” and “yellow” list countries, territories or jurisdictions, would be applied retroactively. They will then be required to undergo home quarantine until their tenth day, with the day of arrival as their first day. They will then be required to undergo home quarantine until their 14th day, with the day of arrival as their first day. “As we enter the last quarter of the year, we are happy to have seen some positive developments in the travel industry.
Source:Philippine Star
October 11, 2021 15:56 UTC
TCS goIT students develop apps to address community challenges
GoIT empowers students to create applications that provide solutions to help their communities. CONTRIBUTED PHOTOTATA Consultancy Services celebrated the success of their goIT education program in the Cordillera Region. TCS proudly presents the winning entries who undoubtedly showcased their skills and learnings from the goIT program through a mobile application. "On behalf of the entire TCS Philippines team, we would like to congratulate our first batch of goIT students in the Philippines. TCS is eager to bring the success of goIT Cordillera to the other parts of the Philippines and showcase the Filipino students' impeccable talent for technology," shared Shiju Varghese, TCS Philippines country head.
Source:Manila Times
October 11, 2021 15:33 UTC
FDI net inflows up to $1.3 billion in July
Foreign direct investment (FDI) net inflows recorded double-digit growth in July as more investments came in, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. Ricarfort accounted higher FDI net inflows to better economic recovery prospects and increased infrastructure spending to "pump-prime" the economy and prepare for the May 2022 elections. From January to July 2021, FDI net inflows grew by 43.1 percent to $5.6 billion from $3.9 billion. "This was mainly on account of the 78.7 percent expansion in non-residents' net investments in debt instruments to $3.9 billion from $2.2 billion," the central bank said. On a year-to-date basis, non-residents' net investments in equity capital decreased by 12.4 percent to $1 billion from $1.1 billion.
Source:Manila Times
October 11, 2021 15:33 UTC
Volvo plans $2.9B IPO to fund EV ambitions
LONDON: Swedish automaker Volvo said Monday it plans to raise at least 25 billion kroner ($2.9 billion) by selling shares to fund its electric vehicle transformation strategy. Volvo plans $2.9-B IPO to fund EV ambitionsVolvo Cars and its parent company, Chinese carmaker Geely, have applied to hold an initial public offering on the Nasdaq Stockholm, with shares expected to start trading before the end of the year. The money raised from the initial public offerings (IPO) will help fund Volvo's lofty ambitions. Volvo's plans also include selling more directly to customers and it aims to have half of all sales come from online channels by mid-decade. Volvo's sales tumbled in September, falling 30 percent to 47,223 from the year before, according to monthly sales figures released Monday.
Source:Manila Times
October 11, 2021 15:09 UTC
Rekindling fond childhood memories with a Maxus T60
For Adrian Tecson, who runs a content production and creative consultancy group on weekdays and engages in various sports and outdoor activities on the weekends, fond childhood memories of playing with toy trucks come to mind as he looks at his Maxus T60 4x4 Elite. Bought just over a month ago, this "toy truck" of his has allowed him to play out his childhood dreams in a larger-than-life setting. This always brings a smile on my face whenever I step in and drive Tonka," Adrian narrated. It was the Maxus T60 and the dealership's personalized brand of service that eventually won him over, he stresses. This remarkable aftersales service by Maxus truly gives the value for money that its hard working owners deserve.
Source:Manila Times
October 11, 2021 15:09 UTC
Hyundai Motor commits to fight climate change
Hyundai Motor Co. has launched a global campaign, "Expecting Generation One," with the online premiere of a short film signalling its commitment to fight climate change and achieve carbon neutrality. Hyundai Motor said it plans to roll out more customer communications for 'Expecting Generation One' throughout the remainder of the year. "With this campaign, Hyundai aims to build consensus with customers about the value of planning for future generations," said Hyundai Motor Global Chief Marketing Officer and head of Customer Experience Division Thomas Schemera. "Our action is not just for us living in the present, but also for all future generations, including the ecosystems of our precious planet," he added. "As we advance our efforts in clean mobility and green energy, Hyundai Motor will continue to engage customers through campaigns such as 'Expecting Generation One' so that they can be part of the journey and share our vision of Progress for Humanity," Schemera said.
Source:Manila Times
October 11, 2021 14:48 UTC
Is the goal of Parex to create more traffic?
This is not, however, "induced demand," but rather "induced traffic." The difference between induced traffic and induced demand is that induced traffic is a change in the short-term demand curve, meaning relatively immediate changes in traffic patterns, and not necessarily an overall increase in traffic volume within a given area. What SMC is essentially saying in these two contradictory statements is that induced traffic is certain (the second statement), but that induced demand, the longer-term increase in overall traffic, will not follow. Without that, neither the critics of the Parex nor SMC can say with certainty that the Parex will or will not cause induced demand. However, most studies that report elasticities indicate that a 10 percent increase in capacity would result in at least 5 percent induced traffic."
Source:Manila Times
October 11, 2021 14:37 UTC
US, Taliban recalibrate relations
REPRESENTATIVES from the United States and the Taliban met in Doha, Qatar over the weekend to explore ways of resetting relations with the new government in Afghanistan. According to the Al Jazeera news agency, the US delegation wasn't "offering any details," but the Taliban side sees the discussions as "positive." A member of the Taliban, left, talks to Afghans gathering outside a government passport office recently re-opened after Taliban announced they would be issuing a backlog of applications approved by the previous administration in Kabul, Afghanistan, Wednesday, Oct. 6, 2021. The Taliban, meanwhile, is appealing for humanitarian assistance and massive funding to prop up the sagging economy. It is safe to assume that the Doha meeting has shelved those concerns to focus on the more pressing problems at hand.
Source:Manila Times
October 11, 2021 14:37 UTC
Why bearish takes on China's economy always proven wrong?
Indeed, to fully understand and correctly predict China's economy has always been a topic to which the world pays great attention. Over the course of China's economic take-off in recent decades, noises forecasting a collapse of China have hardly been absent. However, the Chinese economy continues to grow and improve, and its development achievements have been indisputably remarkable. If Western economic and political communities still attempt to read the Chinese economy without thinking outside the old box, or give up their prejudices, China's economy will continue to be a myth for them. Those achievements have demonstrated the strong resilience of the Chinese economy and injected both confidence and impetus into the global economic recovery.
Source:Manila Times
October 11, 2021 14:26 UTC
Nobel economics prize goes to ‘natural experiments’ pioneers
STOCKHOLM — Economists David Card, Joshua Angrist, and Guido Imbens won the 2021 Nobel economics prize on Monday for pioneering “natural experiments” to show real-world economic impacts in areas from minimum wage increases in the U.S. fast-food sector to migration from Castro-era Cuba. Instead, natural experiments use real-life situations to study impacts on the world, an approach that has spread to other social sciences. Past Nobel Economics prizes have been dominated by U.S. institutions and this was no exception. They have been awarded since 1901, though the economics prize – created through a donation from Sweden’s central bank on its 300th anniversary – is a later addition that was first handed out in 1969. ($1 = 8.7275 Swedish crowns)RELATED STORYFilipino journalist Maria Ressa one of two 2021 Nobel Peace Prize awardeesSubscribe to our daily newsletter By providing an email address.
Source:Philippine Daily Inquirer
October 11, 2021 12:45 UTC
Iraq arrests IS finance chief wanted by US ‘in Turkey’
BAGHDAD — Iraq has captured the alleged finance chief of the Islamic State group, Sami Jasim al-Jaburi, who was sought by the United States, in an operation abroad, Iraqi authorities said Monday. Jaburi, also the suspected former deputy to the late IS leader Abu Bakr al-Baghdadi, was arrested “in Turkey”, a senior Iraqi military source told AFP without elaborating. IS took over one-third of Iraq in a lightning offensive in 2014, expanding their self-declared “caliphate” stretching across the Syrian border. Iraq’s government declared victory against the jihadists in late 2017 after a grinding military campaign backed by a US-led military coalition. IS sleeper cells still periodically launch attacks in Iraq, against both the security forces and civilians.
Source:Philippine Daily Inquirer
October 11, 2021 12:22 UTC
Trio win Nobel Economics Prize for 'natural experiments'
Canadian David Card, Israeli-American Joshua Angrist and Dutch-American Guido Imbens won the Nobel Economics Prize for insights into the labour market and "natural experiments", the jury said. The economics prize, officially the Sveriges Riksbank (Sweden's central bank) Prize in Economic Sciences in Memory of Alfred Nobel, was the only prize not among the original five set out by the will of Alfred Nobel, who died in 1896. Just like this year, the Economics Prize has generally been male-dominated. The Peace Prize went to investigative journalists Maria Ressa of the Philippines and Dmitry Muratov of Russia while the Literature Prize was won by Tanzanian-born novelist Abdulrazak Gurnah. The Medicine Prize went to US scientists David Julius and Ardem Patapoutian for discoveries on receptors for temperature and touch.
Source:Manila Times
October 11, 2021 12:11 UTC