Gov’t fund utilization hits 99%
The government agencies’ cash utilization rate stood at 99 percent in the first half of the year, the Department of Budget and Management (DBM) said on Friday. ADVERTISEMENTTo compare, this was a notch higher from 98 percent utilization rate in the same period last year when government agencies used P2.01 trillion out of P2.05 trillion NCAs issued. READ: Budget utilization rate at 94% as of Oct, says DBMUnused cash allocations amounted to P21.92 billion in June, lower than P46.43 billion that government agencies failed to use last year. An NCA refers to quarterly authority given by the DBM to agencies to withdraw money from the Treasury to fund their programs and spending requirements. Last month, the budget department asked government agencies who are underspending to come up with their plans to further increase their fund utilization rate.
Source:Philippine Daily Inquirer
July 20, 2024 07:35 UTC
House of Representatives' website down during global IT outage
House of Representatives' website down during global IT outageMANILA, Philippines (2nd update, 6:25 p.m.) — The website of the House of Representatives went offline on Friday as a major cyber outage affected computer-reliant services around the world. House of Representatives' Media Affairs and Public Relations Service Director Jake Santiago told Philstar.com that he has alerted the information technology department. Philstar.com screenshot Screenshot of congress.gov.ph homepage at the onset of the global IT outage on Friday, July 19, 2024 as of 6:07 p.m. It is unclear as of press time whether the lower house website's downtime is directly linked to the global outage. Initial reports indicate that the havoc on global IT systems stems from an update pushed out by cybersecurity firm CrowdStrike.
Source:Philippine Star
July 19, 2024 20:39 UTC
Biden nears crunch point as pressure grows to drop out
It quoted the person as saying it would not be a surprise if Biden soon endorsed Vice President Kamala Harris to replace him as the Democratic candidate. Former president Obama meanwhile had reportedly told allies that Biden should "seriously consider the viability of his candidacy," the Washington Post reported. The Axios news outlet separately quoted party figures as saying that Biden could drop out as soon as this weekend, while broadcaster NBC quoted a person close to Biden as saying: "We're close to the end." However the split-screen with Donald Trump could not be more stark, with Trump set to formally accept the Republican nomination in Milwaukee as Biden hunkers down. Republicans find themselves newly unified after former president Trump, who at 78 is just three years younger than Biden, survived an assassination attempt on Saturday that left him with a bandaged ear.
Source:Philippine Star
July 19, 2024 19:38 UTC
China Automotive Systems Announces Special Cash Dividend
China Automotive Systems´ Board of Directors approved the special cash dividend after reviewing the Company´s recent financial performance, current financial condition, expected cash requirements for business expansion and future free cash-flow generation. NASDAQ listing of China Automotive Systems' shares began on August 24, 2004. China Automotive Systems' sales have also grown from $58.2 million in 2004 to $576.4 million in 2023, an approximate 875% increase. About China Automotive Systems, Inc.AdvertisementBased in Hubei Province, the People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through eight Sino-foreign joint ventures. For further information, please contact:AdvertisementJie LiChief Financial OfficerChina Automotive Systems, Inc.[email protected]AdvertisementKevin TheissAwaken Advisors+1-212-510-8922[email protected]Advertisement
Source:Manila Times
July 19, 2024 19:18 UTC
Infinix Introduces Groundbreaking 720° SphereTech NFC Technology
SHANGHAI, July 19, 2024 /PRNewswire/ -- Infinix, a trendy tech brand crafted for young consumers, introduces its revolutionary 720-degree (720°) SphereTech Near Field Communication (NFC) technology. Infinix 720° SphereTech NFC supports 3-sided Read&Tap cards (Front+Top+Back) AdvertisementLi CaoInfinix's Industry-Leading 720° SphereTech NFC technology is designed to tackle these limitations by offering a revolutionary improvement, eliminating the need for precise alignment. The 720° SphereTech NFC significantly improves the mobile experience in NFC applications, offering seamless, reliable, and secure interactions from multiple angles", said, Senior Manager, NFC Department of Infinix. Infinix 720° SphereTech NFC: One-Tap convenience for travel and accessAdvertisementThe Infinix's 720° SphereTech NFC technology offers transformative benefits with its comprehensive coverage, doubling the range of conventional NFC to ensure stability from any direction and significantly reducing transaction failures. Infinix 720° SphereTech NFC: One-Tap convenience and secured for payment and entryAdvertisementInfinix is set to revolutionize NFC technology by addressing its key limitations and unlocking its full potential.
Source:Manila Times
July 19, 2024 16:04 UTC
WATCH: MMDA chair admits busway ramp not ideal for wheelchair commuters
Metropolitan Manila Development Authority (MMDA) Acting Chairman Don Artes admits in a press conference at the MMDA office in Pasig on July 19, 2024 that the viral wheelchair ramp at the Philam busway station along EDSA was not ideal for persons with disabilities (PWDs) although the measurements are within the cleared height for the Metro Rail Transit-3. VIDEO BY JOHN ORVEN VERDOTEGet the latest newsdelivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy
Source:Manila Times
July 19, 2024 10:43 UTC
WATCH: Healthcare workers urge Marcos to redirect P89.9 billion funds to PhilHealth
Healthcare worker groups at a media conference on July 19, 2024 urge President Ferdinand Marcos Jr. to order the return of P89.9 billion in unused funds to PhilHealth. Among those present were Bu Castro, former president of the Philippine Medical Association; Maricar Limpin, former president of the Philippine College of Physicians; and Antonio Dans, president of Asia Pacific Center for Evidence-Based Healthcare. VIDEO BY VIA BIANCA RAMONESGet the latest newsdelivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy
Source:Manila Times
July 19, 2024 09:13 UTC
Marcos hands over P99-M aid to Palawan, Marinduque folk
ADVERTISEMENTHe also handed out P39 million in PAFFF assistance for Marinduque, which was received by Gov. Presbitero Velasco Jr.Palawan and Marinduque both belong to Mimaropa (Mindoro, Marinduque, Romblon, Palawan) region. The President was initially set to fly to Romblon first for the same activity but the schedule was cut short because of unfavorable weather conditions. ADVERTISEMENTAside from the presidential aid, the DSWD also distributed P10,000 to each of the more than 6,000 beneficiaries under the Ayuda para sa Kapos ang Kita Program. Subscribe to our daily newsletter SIGN ME UPMr. Marcos said the government will also train farmers to improve production.
Source:Philippine Daily Inquirer
July 19, 2024 09:07 UTC
WATCH: Angels steal thunder from Thunderbelles in opening game win at PVL Reinforced Conference
The Petro Gazz Angels open their Premier Volleyball League (PVL) 2024 Reinforced Conference campaign with a win after sweeping the ZUS Coffee Thunderbelles, 25-16, 25-21, 25-21, at the PhilSports Arena in Pasig on July 18, 2024. Brooke Van Sickle said she was glad to be back and wanted to keep the same intensity when playing inside the court. THE PVL 2024 All-Filipino Conference MVP led the Angels with 22 points on 18 attacks, a block, and three aces, along with 11 excellent digs, and six excellent receptions. VIDEO BY NICOLE ANNE D.G. BUGAUISANGet the latest newsdelivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy
Source:Manila Times
July 19, 2024 02:05 UTC
High Olympic hopes for badminton, judo athletes
The Hong Kong administration earlier announced that it will send 35 athletes to compete in 13 events in the Games, including the "Tang-Tse pair," who will be among the six-strong badminton team. Both Tang and Tse said they are hoping to make up for their shortfall in the 2020 Tokyo Olympics, finishing fourth in mixed doubles. However, Group C with the "Tang-Tse pair" will go with three teams, giving the Hong Kong pair a greater chance to snatch one of the two places to qualify for the quarterfinals. Meanwhile, Wong Ka-lee will compete in the women's category under 48 kilograms, making her the third Hong Kong judo athlete to compete in the Olympics. "Athletes might not be in their best condition in every competition, but we have spent a lot of time and effort," Wong added.
Source:The Standard
July 18, 2024 22:54 UTC
PH Navy foils ‘hundreds’ of hacking attempts
After successfully fending off “hundreds of attempts to breach” its cybersecurity systems, the Philippine Navy is investigating one of its own members for allegedly taking part in hacking its network and downloading its database. READ: Hacker apologizes for PH Navy cybersecurity breachThe Navy was able to respond quickly before the hackers could advance far into the network. “We get hundreds of attempts to breach our systems but so far the NICTC (Naval Information and Communications Technology Center) has not reported any actual successful breaches in our systems,” he said. “From the mindset of a hacker, it’s more of the accomplishment that you were able to breach, not so much the data. They get their sense of fulfillment from being able to breach or break through your [system],” he said.
Source:Philippine Daily Inquirer
July 18, 2024 21:59 UTC
US senators urge Biden for 'visible' response to help Philippines thwart China
US senators urge Biden for 'visible' response to help Philippines thwart ChinaPhilippine coast guard personnel wave US and Philippine flags as the US coast Guard cutter Midgett docks at the international port in Manila on August 30, 2022. MANILA, Philippines — Two ranking United States senators have urged US President Joe Biden to present military, economic and diplomatic options to help the Philippines stave off China's further aggression in the South China Sea. “Limiting our response to verbal assurances of the applicability of Article IV undermines the credibility and value of these commitments," the senators added. Bersamin initially described the incident as "probably a misunderstanding," pointing out that the Chinese crew members only used bladed weapons. Earlier in 2023, the Philippines announced four new military bases open to US troops under the 2014 Enhanced Defense Cooperation Agreement, prompting China to rebuke the Philippines for "[endangering] regional peace and stability."
Source:Philippine Star
July 18, 2024 20:26 UTC
Hollysys Announces Expected Completion Date of Merger Transaction with Ascendent Capital Partners
About Hollysys Automation Technologies Ltd.Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). AdvertisementSafe Harbor StatementsThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys' management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Source:Manila Times
July 18, 2024 19:47 UTC
Volvo Cars reports record core operating profit of SEK 8.2 billion in Q2 2024
JVs and associates) was SEK 8.2 bn , up 28 per cent vs Q2 2023, up 28 per cent vs Q2 2023 Q2 operating profit was 8.0 bn SEK, up 60 per cent vs Q2 2023Q2 EBIT margin (excl. This has been reflected in Volvo Cars' gross margins, which increased to 22.8 per cent from 19.0 per cent last year. The EX30, EM90 and EX90 are clear examples of where Volvo Cars is going, as it continues its journey towards full electrification. Volvo Cars continues to invest across the breadth of its product range, both in new models and ongoing improvements to existing ones. Looking aheadYet like all global companies, Volvo Cars operates in a complex geopolitical environment that impacts trade and tests supply chain resilience.
Source:Manila Times
July 18, 2024 18:13 UTC
Cathay Pacific apologizes after video shows ground crew throwing luggage down the stairs
A viral video showing a member of Cathay Pacific ground staff roughly throwing passengers' luggage down the stairs at the airport has sparked public outrage. The 15-second video shows a female worker throwing multiple checked-in bags down the stairs, causing some bags to tumble and pile up. Some empathized with the workload of the female staff member, while others suggested that luggage is designed to be thrown around. Cathay has confirmed that an employee of its ground handling service contractor was involved in the incident. The female worker was immediately transferred out of her position, pending further investigation.
Source:The Standard
July 18, 2024 15:20 UTC