BSP pushes amendments to century old warehouses receiptsBSP Governor Felipe Medalla promoted a warehouse receipts financing bill to update the Warehouse Receipts Law of 1912 and address the development needs of the agriculture and MSME sectors. In a forum, BSP Governor Felipe Medalla promoted a warehouse receipts financing bill to update the Warehouse Receipts Law of 1912 and address the development needs of the agriculture and MSME sectors. The proposed changes will also expand access to credit, by professionalizing the warehousing activity through the accreditation of warehouses and warehouse operators and establishment of an electronic warehouse receipts registry. The forum featured presentations on the elements of a dynamic warehouse receipts financing market and features of the proposed warehouse receipts bill from the International Finance Corp. and trade consulting firm TradeAdvisors. By bringing the Warehouse Receipts Law of 1912 up to the times, it would promote wider acceptance of warehouse receipts as credible collateral for bank loans.

DA: Agriculture output growth could reach 1.5%MANILA, Philippines — The Department of Agriculture (DA) expects the country’s agriculture output to grow by as much as 1.5 percent this year as the rice and livestock sectors recover. The agriculture sector’s growth is projected at 1.2 to 1.5 percent this year and by 2.3 to 2.5 percent next year, DA Undersecretary for policy, planning, and regulations Mercedita Sombilla said in an interview with reporters yesterday. “Hopefully, the livestock sector will drive growth if the hog industry recovers… also the palay production. The agriculture sector declined by 0.3 percent and 0.6 percent in the first and second quarter, respectively. The third quarter growth also reversed the 2.6 percent contraction of the farm production in the same period last year.

Police arrested three suspects involving the death of a 14-year-old Ukrainian boy who was found dead after taking drugs in Chungking Mansion. The force received a report on Saturday morning that a boy fell unconscious in a flat of the Mansion. Officers rushed to the scene only to find the boy dead and arrested a 56-year-old man, whose nationality was confirmed as the Bahamas. After a preliminary investigation, police located the 15-year-old local boy in a residential flat in Ngau Tau Kok at 8 pm on Sunday. He added the two arrestees - the boy and the 56-year-old - had taken drugs with the deceased at Chungking Mansion.

File PhotoThe Faster Payment System (FPS) services have been extended to payment of online government services, the Financial Services and the Treasury Bureau announced. FPS payments will be available for designated online services of the Immigration Department, the Official Receiver's Office, the Security Bureau, and the Transport Department starting from Monday. Citizens can scan the FPS QR codes on the departments' web pages or use the FPS Web-to-App payment function on mobile applications. Currently, citizens can pay taxes, rates, government rent, and water charges through FPS services. "More government departments are expected to provide the same service next year to bring greater convenience to the public," said a government spokesperson.

Multiple emergency units in hospitals once saw waiting times exceeding seven hours on Monday, with doctors suggesting that patients with mild symptoms consult general outpatient clinics or private clinics. "Hospitals are now gathered with more patients from this morning," said Tuen Mun Hospital's Deputy Hospital Chief Executive Terry Lau Chu-leung, "the cold weather, coupled with the epidemic, may trigger or exacerbate diseases of patients, especially the seniors." Non-emergency patients may take at least seven hours to see doctors in the emergency departments at United Christian Hospital and Yan Chai Hospital, according to the 'A&E Waiting Time' on the Hospital Authority website. Lau suggests patients with mild symptoms consider going to private or general outpatient clinics for quicker treatment. More than 5,000 people asked for help in the past three days under the cold weather, according to the association.

Suffering Argentines explode with joy after 'epic' World Cup winFans of Argentina celebrate winning the Qatar 2022 World Cup against France at the Obelisk in Buenos Aires, on December 18, 2022. BUENOS AIRES – Watching football icon Lionel Messi inspire Argentina to World Cup glory on Sunday (Monday, Manila time) made the economic suffering engulfing the country "worth it," according to ecstatic fans. 'Richly deserved distraction'Watching the World Cup final and dreaming about winning has been a much needed exercise in escapism for citizens of a country that has suffered years of economic turmoil due to spiraling inflation. Ska band La Mosca played a concert in Buenos Aires with an updated version of the team's official World Cup song "Muchachos," with the lyrics tweaked to acknowledge Argentina's third title. "I've been waiting my whole life to enjoy the World Cup."

Russian troops that were moved to Belarus in October to become part of a regional formation will conduct battalion tactical exercises, the Russian Interfax news agency reported on Monday, citing the Russian defense ministry. “The final assessment of the combat capability and combat readiness of the units will be given by the command at the final stage of coordination – after the battalion tactical exercises have been conducted,” Interfax cited the ministry’s statement. ADVERTISEMENTIt was not immediately clear when and where in Belarus the exercises will be conducted. Belarus defense ministry said in October that 9,000 Russian troops were moving to the country as part of a “regional grouping” of forces to protect its borders. RELATED STORIESBelarus, Russia to form joint military group, Lukashenko saysUkraine watchful of borders as Putin heads to BelarusRead Next

MANILA, Philippines — The Department of Health (DOH) said that it intends to procure bivalent vaccines against COVID-19 and make them accessible to the public by the first quarter of 2023. Bivalent vaccines are a type of vaccine that targets specific variants of COVID-19, like the more transmissible Omicron. ADVERTISEMENT“As for the DOH, we are already coordinating with suppliers for the procurement of bivalent vaccines. We are targeting to have vaccines available by Q1 of 2023,” said the DOH in a written response on Saturday. “We are also coordinating with potential donors of COVID-19 bivalent vaccines,” it added.

IMO climate talks end without clear emissions-reduction goal for shippingLONDON, United Kingdom — The climate talks at the International Maritime Organization saw more countries supporting the move to decarbonize shipping by 2050, but the meeting failed to adopt a concrete target to eliminate pollution from the maritime industry. IMO, the United Nations agency that regulates global shipping, is currently revising its existing climate strategy, which aims to only halve emissions from ships by mid-century. Member states are set to meet again in July 2023 to conclude the negotiations. "While no decision was reached this week on tackling the damage shipping does to our planet, we have definitely seen important progress in this direction," said Delaine McCullough, shipping emissions policy manager with Ocean Conservancy. At the IMO climate talks, the Philippines requested for technology transfer and capacity building.

COTABATO CITY – An off duty Marine sergeant was killed in a daring daylight gun attack here Sunday, police said. Major John Vincent Bravo, Cotabato City police station 1 chief, said Marine Sgt. ADVERTISEMENTOne of them pulled a caliber .45 pistol and shot Magno three times before fleeing toward Notre Dame Avenue. Responding village guards and the police still rushed him to a hospital only about 50 meters away but physicians already declared him dead. Scene of the crime operatives found three empty shells for a .45 caliber pistol at the scene.

China's nursing homes are fighting an uphill battle to keep their elderly residents safe as a wave of Covid-19 infections sweeps the country following a relaxation of the government's zero-tolerance virus policy. Facilities are locking themselves off from the outside world with staff sleeping on site, while struggling to get their hands on drugs. Experts fear the country is ill-equipped to manage the "exit wave" of infections as it presses ahead with reopening, with millions of vulnerable elderly people still not fully vaccinated. And eldercare facilities have now been left to fend for themselves as society reopens, the manager of one privately run Beijing home said. "We've had hundreds of patients, with a number of patients coming from nursing homes and in their 90s," though there appeared to be few severe cases, one nurse at a Beijing hospital, who asked to remain anonymous, told AFP.

Philippine President Ferdinand Marcos Jr has approved the recommendation of the economic ministry to extend up to the end of next year lower tariff rates on rice and other food items to help combat inflation, his office said on Sunday. The modified rates approved in 2021 were due to expire at the end of this year, but an inflation rate running at 14-year highs warranted an extension of the tariff reprieve until Dec. 31, 2023. That means the tariff rate for imported rice will stay at 35%, while the import levies on corn and pork products will remain at 5%-15% and 15%-25% respectively, the press secretary's office said in a statement. The tariff for coal imports, a key fuel in power generation, will remain at zero beyond the end of next year, but will be reviewed regularly. "We are determined to steer the Philippine economy to meet the 6.0%-7.0% economic growth target for 2023," Balisacan said.

Around 5,000 cyclists participate in Hong Kong Cyclothon on Sunday, after the event's return after a four-year absence. The Cyclothon, starting from Tsim Sha Tsui, has two races of 50-kilometre and 30km ride, and launched under gusts with the lowest temperature this morning recording only 9.4 degrees. The 50km ride with over 2,800 participants started at 5.20 am from Salisbury Road near Empire Centre in East Tsim Sha Tsui heading for Ting Kau Bridge. The finishing point is located at Salisbury Road opposite the Hong Kong Cultural Centre. A rider was hit by a hoarding during his race as the wind blew some of the boards around the course.

The woman was later rescued as police arrested three men and a woman. The incident occurred at 10.23am this morning when the woman was leaving the prison and walking to the minibus stop. That was when three men suddenly approached and assaulted the woman before they abducted her onboard a blue minivan. The woman’s friends and relatives attempted to stop the attackers but in vain, while the woman continuously cried for help. According to sources, the woman left the prison after visiting her husband who was jailed for dangerous driving.

Read this in The Manila Times digital edition. CHAPRA, India: Toxic hooch has killed at least 37 people in the eastern Indian state of Bihar, where alcohol is banned, officials said on Saturday, with unconfirmed reports putting the death toll at more than 70.Selling and consuming liquor is banned in several parts of the South Asian country, driving a thriving black market for potent backstreet moonshine sometimes laced with ethanol that kills hundreds every year.Families of the victims in the latest tragedy said people from several villages drank a locally made tipple known as "Mahua" or "Desi Daru" on Monday at a wedding and other events.Many then complained of stomach pain and vision loss and started vomiting. By Thursday, more than 20 people were dead, and on Saturday about a dozen were hospitalized in critical condition. "More than two dozen people have lost lives in the last 48 hours," a police official told Agence France-Presse (AFP), saying 37 people had died so far. He was unable to confirm local media reports that 71 had died.Police have detained more than 100 people in connection with illegal manufacturing and selling liquor in the last three days, while 600 liters of hooch have been seized.Local authorities have been trumpeting their use of drones, helicopters and motorboats to crack down on the black market, but the most recent incident is just the latest in a string of similar deadly cases.