Tag: Manila Bulletin

Pawnshop messenger killed by gunman in Parañaque City

Pawnshop messenger killed by gunman in Parañaque City

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Recently in the City of Parañaque, a pawnshop messenger was shot dead by an unidentified gunman who remains on the loose and the local police are tackling the possibility that the victim was targeted due to his alleged past as an asset of the police, according to a Manila Bulletin news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

Probers at the Parañaque City police are looking into the possibility that the killing on Thursday, March 21, of a pawnshop messenger was allegedly due his being a former police asset.

The Southern Police District (SPD) said the victim, identified as alias Juan, 45, of Camp Bagong Diwa, Lower Bicutan, Taguig City and a messenger at Champion Pawnshop located along Lopez Avenue, Barangay San Isidro, Parañaque City, was shot dead at around 7:40 a.m.

According to the report of the Parañaque city police, the victim was reportedly opening the sliding accordion metal door of the establishment when he was approached by a male person wearing a black hoody jacket, blue pants, red t-shirt, and white rubber shoes and was shot several times in the body.

The Parañaque City police said that based on the CCTV footage in the area, the suspect arrived with a male companion on board a motorcycle and parked their vehicle at the tricycle terminal.

The police said the gunman alighted from the motorcycle and walked casually to the establishment where alias Jun was working.

A few minutes later, a burst of gunfire was heard and the gunman was seen running going to the direction of his companion.

The police added that the motive of the killing could have been revenge because of his allegedly being a former police asset.

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that criminals could be hunting for locals whom they perceive to be assets of the police force?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa City Government warns public about highly contagious Pertussis (whooping cough)

Muntinlupa City Government warns public about highly contagious Pertussis (whooping cough)

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Recently in the progressive City of Muntinlupa, the City Government warned the public about the spread of Pertussis (also referred to as whooping cough) which already caused over four hundred cases counted in the first ten weeks of the year in the country (according to the Department of Health’s statistics), according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Muntinlupa City government warned the public about pertussis, or whooping cough, a highly contagious respiratory illness.

“Pertussis spreads easily from person to person mainly through droplets produced by coughing or sneezing. The disease is most dangerous in infants, and is a significant cause of disease and death in this age group,” according to the World Health Organization (WHO).

The Department of Health (DOH) recorded 453 cases of pertussis in the first 10 weeks of 2024.

Dr. Juancho Bunyi, head of the Muntinlupa City Health Office (CHO), said pertussis is a bacterial disease affecting the mucous membrane of the throat.

The symptoms of pertussis, he said, include persistent cough with episodes of vomiting. The cough lasts for two weeks.

“And for every cough episodes, meron siyang pagsusuka (And for every cough episode, the patient will have vomiting),” Bunyi said in a video uploaded by the Muntinlupa City government on Facebook. 

He told Manila Bulletin that the Muntinlupa CHO is currently monitoring five cases of pertussis from different barangays with no clustering. No death from pertussis has been recorded in Muntinlupa.

The CHO is also doing a defaulter tracking of children who may have missed their pertussis shots, Bunyi added.

“Individuals who are experiencing prolonged and excessive cough of more than 2 weeks with fever, runny nose and with vomiting episodes after bouts of cough are advised to seek immediate consultation,” said Bunyi.

He added, “Pertussis if left untreated may lead to respiratory distress and eventually difficulty of breathing resulting to death. As of to date Muntinlupa has no fatality from pertussis.”

Bunyi advised wearing of face masks for those who were in close contact and for families with known cases of pertussis.

“As a standard measure to prevent any type of airborne infection just like pertussis, wearing of face mask is prescribed especially to those in close contacts and families with known case of pertussis or whooping cough,” he said.

He encouraged people to have their children vaccinated against pertussis.

“Since this is a vaccine preventable disease, mother’s are encouraged to bring their children to the nearest health facilities to get their pertussis shots which is given free to all public health institutions . Those who failed to complete the dose (defaulters) requirement for the shot are likewise encouraged to get immunized,” he said.

In the video, he said pertussis is included in pentahib, or pentavalent vaccine,  which is a routine immunization of children in the country.

Pertussis is part of the DPT immunization, or diphtheria, pertussis and tetanus.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you concerned that Pertussis could have infected some members of your local community? Are people in your local community aware of whooping cough?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Implementation of ban on e-bikes and e-trikes on major roads of Metro Manila to take effect on April 15, 2024

Implementation of ban on e-bikes and e-trikes on major roads of Metro Manila to take effect on April 15, 2024

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It is finally happening with orderly travel and the safety of many others in mind. In relation to the resolution approved by the Metro Manila Council (MMC), the ban on electric bikes (e-bikes) and electric tricycles (e-trikes) on the major roads of Metro Manila will take effect on April 15, 2024, and there will be deputized traffic enforcers to implement it, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Starting April 15, Metro Manila traffic enforcers will start apprehending e-bikes and e-trikes that will be caught travelling along major thoroughfares in the National Capital Region, the Metropolitan Manila Development Authority (MMDA) said on Monday, March 11.

At least 19 major thoroughfares were already identified by the MMDA as off-limits to e-bikes and e-trikes but local government units (LGUs) in Metro Manila can still add more roads based on the ordinances that they would approve.

The initial MMDA list are C1: Recto Avenue; C2: Pres. Quirino Avenue; C3: Araneta Avenue; C4: EDSA; C5: Katipunan/CP Garcia; C6: Southeast Metro Manila Expressway; R1: Roxas Boulevard; R2: Taft Avenue; R3: Osmeña Highway (South Superhighway); R4: Shaw Boulevard; R5: Ortigas Avenue; R6: Magsaysay Blvd./Aurora Blvd; R7: Quezon Ave./Commonwealth Ave; R8: A. Bonifacio Ave.; R9: Rizal Ave.; R10: Del Pan/Marcos Highway/McArthur Highway; Elliptical Road; Mindanao Avenue; and Marcos Highway.

These are the major thoroughfares that are under the jurisdiction of the MMDA.

MMDA chairman Don Artes said the April 15 date would be an ideal start of the enforcement as it would give them more time to conduct aggressive information dissemination drives, especially to e-bikes and e-trikes owners and users.

The enforcement against e-bikes and e-trikes is based on the Metro Manila Council (MMC) Resolution 2024-022 that was approved by all NCR mayors in a bid to regulate the e-vehicles amid mounting concerns on road safety.

“The IRR (implementing Rules and Regulations) of the MMC Resolution will be released before April 15, and before April 15 we want to have a minimum of 15 days before effectivity for information drive before we implement this,” said Artes.

He explained that the April 15 date is what was stipulated in the MMC Resolution as the start of the implementation.

The MMDA held on Monday a consultation with various stakeholders in connection with the MMC Resolution and it was during the dialogue that various considerations were raised by some stakeholders.

One of that considerations, according to Artes, is the classification of the e-bikes and e-trikes and the areas where they will still be allowed.

For instance, pedal-assist e-bikes will still be allowed on major thoroughfares provided that they stay on the designated bike lanes.

The MMC and the MMDA agreed to regulate e-bikes and e-trikes amid the rising cases of road accidents in the past few years.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think that all drivers of e-bikes and e-trikes must be required to have licenses in order to drive? Do you want to see all e-bikes and e-trikes get registered with the local authorities before they could be used on the roads? Did you see any e-bike or e-trike driver driving recklessly over the past two weeks?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Three major Japanese investors plan to expand operations in PEZA ecozones

Three major Japanese investors plan to expand operations in PEZA ecozones

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With all the uncertainty and economic challenges going on, the economy of the Philippines could get a much-needed boost as the Philippine Economic Zone Authority (PEZA) revealed that three major Japanese investors are planning to expand their existing operations in the country, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Philippine Economic Zone Authority (PEZA) disclosed that three major Japanese investors are planning to expand their operations in the Philippines.

PEZA Director General Tereso Panga, who was guest speaker during an Economic Seminar in Tokyo recently, reported that he held talks with long-time PEZA investors Tsuneishi, electronics manufacturing firm SIIX Co., and automobile manufacturer FCC Co., Ltd.  The seminar hosted by Sumitomo Mitsui Banking Corp. was attended by 140 Japanese firms.

According to PEZA, Tsuneishi is preparing for its fifth phase of expansion, including projects to manufacture the world’s first methanol-fueled TEU container carriers and establishing a wood pelletizing business.

Since 1994, the Japanese shipbuilder has already expanded its Philippine operations four times. Its first project was its shipbuilding business in Balamban, Cebu which grew to a 170-hectare facility from 25 hectares.

It also employs around 10,000 direct and subcontracted employees, a long way from the mere 300 workers it had when it began operations.

In Panga’s meeting with SIIX Co.,Ltd, its President Koji Yanase said they see their Philippine operations “playing a crucial role as they expand their core business and enter new territories.”

SIIX Co. has been engaging with the Philippines since 1957 as with the establishment of the first offshore operations for their ink production in the country.

The company said that it will manufacture its patented conductive ink in the Philippines, according to Panga.

Meanwhile, Yoshitaka Saito’s FCC Co. said they expect their Philippine operations to grow in the coming years as they ramp up “manufacturing of the clutch for Honda Click 125 motorcycle, production of paper ceramics for other electronics component manufacturers, and investment in new advanced technology businesses that will involve the assembly line for scooters, lining molding line, and weight line.”

FCC is also eyeing involvement in the country’s circular economy through using solid oxide fuel cells (SOFC) for water filtration and production of solid biomass fuel.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think that the planned expansion of the three Japanese firms will help the national economy a lot in the long-term?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Online seller and two others apprehended in Parañaque City for selling illegal substance

Online seller and two others apprehended in Parañaque City for selling illegal substance

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Recently in the City of Parañaque, a successful buy-bust operation by the local police resulted in the arrests of an online seller and two others for selling shabu, according to a Manila Bulletin news report. The suspects were apprehended within Barangay San Dionisio.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

A woman online seller and two others were arrested by members of the Parañaque City Police Station Drug Enforcement Unit (SDEU) for selling shabu during a buy-bust operation conducted on Tuesday, March 5.

The Southern Police District (SPD) identified the suspects as alias Weng, 30, an online seller; alias Jerico, 27; and alias Erwin, 40.

The SPD said the suspects were arrested at around 6:15 a.m. along Draga St., Barangay San Dionisio, Parañaque City.

The police said alias Weng and alias Jerico were tagged by the Parañaque city police as high value individuals (HVI) while alias Erwin was placed under Street Level Individual (SLI).

Recovered from the arrested suspects were 125 grams of shabu worth P850,000 and the P1,000 buy-bust money. The police said the recovered evidence from the suspect was turned over to the Southern Police District Forensic Unit (SPDFU) for analysis.

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there are still many smugglers or pushers of illegal drugs operating secretly within your local community?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Las Piñas City’s PESO recognized by DOLE

Las Piñas City’s PESO recognized by DOLE

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Recently in the City of Las Piñas, the City Government announced that its Public Employment and Services Office (PESO) was recognized by the Department of Labor and Employment (DOLE) for its efficient and effective conduct and monitoring of job fairs, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

The Department of Labor and Employment (DOLE)-National Capital Region (NCR) recognized the Las Piñas Public Employment and Services Office (PESO) for its efficient and effective conduct and monitoring of job fairs that contributed to the increase of employment in the region.

Vice-Mayor April Aguilar said the department was awarded by the DOLE-NCR as best performing PESO in job placement for 2023.

The recognition was given to PESO during the regular flag raising ceremony on Monday, March 4.

Aguilar expressed her pride for the recognition as she reiterated the city government’s commitment to increasing the employment opportunities for Las Piñas residents.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you think PESO office deserves the recognition from DOLE? Did anyone in your local community got employed through the services of the PESO over the past twelve months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

DILG Secretary tells local governments to improve social protection and monetary management strategies

DILG Secretary tells local governments to improve social protection and monetary management strategies

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In recent times, local government units (LGUs) were urged by Department of the Interior and Local Government (DILG) Secretary Benhur Abalos to improve their social protection and sensitivity as well as their monetary management strategies, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Department of the Interior and Local Government (DILG) Secretary Benjamin “Benhur” Abalos Jr. urged local government units (LGUs) to put up measures to enhance their social protection and sensitivity as well as financial sustainability assessment ratings.

He issued the call during the recent Council on Good Local Governance (CGLG) activity in Cebu City, which discussed the proposed criteria for the Seal of Good Local Governance (SGLG) Assessment for 2024- 2025.

During the event, Abalos bared that the LGUs registered the lowest compliance rates during SGLG assessments when it comes to their social protection and sensitivity, and financial administration and sustainability.

On the flip side, Abalos stated that the LGUs registered positive performance and excelled in the following assessment criteria: Health Compliance and Responsiveness; Tourism Heritage Development, Culture and the Arts; and Sustainable Education.

“Natutuwa ako sa mataas na pagpapahalaga ng mga LGUs sa kalusugan, turismo at edukasyon base sa lumabas sa assessment para sa SGLG nitong nakaraang taon. Ipagpatuloy lang natin ang pagsisikap sa mga areas na ito (I am glad about the LGUs’ high appreciation for health, tourism and education based on the results of the assessment for the SGLG last year. Let’s continue working on these areas,” he said.

Together with Abalos, DILG Undersecretary Marlo Iringan also emphasized the significance of aligning the objectives and ensuring the effective execution of the SGLG assessment process.

The SGLG is an award, incentive, honor and recognition-based program for LGUs that aim to challenge them to continue good governance practices while providing better public services.

Relatedly, the DILG noted that a total of 42,000 barangay captains and other newly-elected officials will undergo continuous training to enhance their capabilities in handling various challenges that they may face in the course of their mandated duties as community leaders.

Abalos stressed that the exercise dubbed as “Grassroots Renewal and Empowerment for Accountable and Transparent (GREAT) Barangays” will run until 2025 and is designed to capacitate the village officials in all leadership aspects.

“As the basic unit of local governance, at pinakamalapit sa ating mga kababayan sa komunidad (and nearest to the people in the community), everything starts in the barangay,” Abalos explained.

Through the Local Government Academy (LGA), Abalos pointed out that the DILG ensures newly-elected barangay officials are ready to face the challenges of leadership in the barangays.

“We will prepare our barangay officials,” he said.

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think the DILG is properly doing its job to guide all LGUs on how to do their jobs over a wide series of issues? Do you think your local government or barangay has been neglecting its duties?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Muntinlupa City Government to give free rubber shoes to public school students

Muntinlupa City Government to give free rubber shoes to public school students

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Recently in the progressive City of Muntinlupa, the City Government announced that it will soon release free rubber shoes to public school students as the next school year approaches, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Muntinlupa City government will give free rubber shoes to students in public schools for the next school year that will start in July.

Mayor Ruffy Biazon announced that the free rubber shoes will be an addition to the city government’s Balik Eskwela Package, which was launched last year.

Last year’s package contained school bags, school supplies and leather shoes, which was given for free to public school students from kindergarten to Grade 12.

“Last school year, tinupad natin ang commitment nating wala nang ‘sana all’ (Last school year, we fulfilled our commitment that there would no longer be ‘sana all’).  Around 100,000 public school students were provided with a free balik eskwela package, mula daycare, elementary, junior hanggang sa senior high school,” said Biazon in his recent State of the City Address.

“Sana all” is a Filipino-English expression of being envious with the hope that everyone will have the same experience.

“Lahat ng binigay natin, from school bags to school supplies and leather shoes, ay high quality. Gusto natin sa Muntinlupa, happy ang mga bata. Gusto natin ganado silang mag-aral (All that we gave, from school bags to school supplies and leather shoes, were high quality. We want that in Muntinlupa, all children are happy),” he added.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted that the City Government will be giving rubber shoes to public school students?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Dutch bank predicts Philippine economy will grow 5.4% this year

Dutch bank predicts Philippine economy will grow 5.4% this year

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ING, a bank and financial services firm based in the Netherlands, published its forecast that the economy of the Philippines will grow by 5.4% this year, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Dutch bank ING is projecting a moderate 5.4 percent growth for the Philippines this year, saying the impact of the central bank’s rate hikes could have propelled robust growth but it is handicapped by “soft” capital formation.

The 5.4 percent growth estimate is considerably lower than the government target of 6.5 percent to 7.5 percent this year. It is also lower than 2023’s full-year 5.6 percent growth, which was also below the government’s goal of six percent to seven percent.

ING senior economist Nicholas Mapa, in an ING Manila’s economic briefing on Monday, Feb. 19, said domestic growth seems strong this year but “below par as handicaps persist.”

He said one of these handicaps is the lack in capital formation as an impact of the Bangko Sentral ng Pilipinas’ (BSP) cumulative rate hikes since May 2022, for a combined 450 basis points to bring the target reverse repurchase rate or the policy rate to 6.5 percent.

Because of this, Mapa said the “missing link” for a within-target growth is private investment and a National Government spending spree not hampered by a “soft” capital formation.

Capital formation is an integral part of GDP growth. However, capital formation and growth prospects were soft in 2023 due to rate hikes and it could persist this year.

For 2024, ING also forecasts inflation of three percent versus an actual six percent in 2023. The forecast is within the BSP’s target of two percent to four percent. It is also lower compared to the risk-adjusted forecast of the BSP of 3.9 percent for 2024.

Mapa also predict the exchange rate will end with a stronger peso this year at P54.90 since he also expects the BSP’s Monetary Board will cut the policy rate by 50 basis points (bps) from 6.5 percent to six percent, thereby boosting the peso performance.

Based on his presentation during the briefing, Mapa expects the first quarter GDP will perform better at six percent compared to the fourth quarter 2023 GDP of 5.6 percent. By the second quarter, he thinks the economy will grow by 6.3 percent but then will drop to 4.7 percent by the third quarter and further down to 4.5 percent in fourth quarter this year.

He said the rate hikes impact bank lending as well as GDP growth, and that the “elevated rates (has kept) capital formation subdued after years of underinvestment.”

Let me end this piece by asking you readers: What is your reaction about this recent development? Do you think ING’s prediction will turn out correct by the end of this year? Do you think that the economy of the Philippines can somehow grow by at least 6% this year?  

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Muntinlupa City Council amends ordinances related to companies’ hiring of local residents

Muntinlupa City Council amends ordinances related to companies’ hiring of local residents

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Recently in the progressive City of Muntinlupa, the City Council amended two local ordinances that affects companies (with operations within the city) with regards to their hiring of local residents, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

The Muntinlupa City Council amended an ordinance that requires companies operating in the city to hire 70 percent of their rank-and-file employees from among residents.

Under existing ordinances 08-028 and 96-80, all companies that have at least five employees are mandated to hire at least 70 percent of their rank-and-file employees from among Muntinlupa residents.

Ordinance 2024-151 was passed by the City Council amending the two ordinances.

Under the amended ordinance, excluded in the scope of the local law are the banking sector and any industry mandated by law to implement periodic forced rotation of employees.

Section 6 of Ordinance 96-80 was also amended. Under the new provision, all companies in Muntinlupa including business establishments that contract or avail of rank-and-file employees from service agencies located outside the city are required to submit a yearly report of the list of their employees.

The list will be submitted to the Muntinlupa Public Employment Service Office (PESO) by Sept. 30 of every year.

The PESO monitors all business establishments and companies in Muntinlupa for their compliance with the 70-percent workforce requirement.

According to PESO, the ordinance addresses the unemployment problem in the city by giving Muntinlupeños assurance to be employed by companies.

Under the existing ordinance, companies are required to submit to the PESO and Business Permit and Licensing Office (BPLO) a list of employees as part of requirements in the issuance of business permits.

In the amended law, in addition to submitting the age, address, period of employment in the company, and position and duties of employees, companies are now required to submit the employee’s gender, employees who are classified as persons with disabilities (PWDs) and senior citizens, and the company’s reason for not meeting the 50 percent compliance rating in the employment of Muntinlupa residents.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who happens to be looking for a job, do you think the latest move by the City Council will boost your chances of getting hired? If you own a business operating in the city, do you think the amendments will make managing your lineup of employees more challenging?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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