Share prices end week in the red
Share prices end week in the redThe Philippine Stock Exchange index or PSEi ended at 6,906.86, down 44.44 points or 0.64 percent, while the broader All Shares index slipped 16.33 points or 0.38 percent to close at 4,338.52. MANILA, Philippines — Local stocks closed the week in the red, reversing advances made earlier in yesterday’s session as investors cashed in on recent gains. The Philippine Stock Exchange index or PSEi ended at 6,906.86, down 44.44 points or 0.64 percent, while the broader All Shares index slipped 16.33 points or 0.38 percent to close at 4,338.52. “Last minute profit taking sent the local market lower by 44.44 points (0.64 percent) to 6,906.86. During yesterday’s session, foreigners were net buyers with net inflows amounting to P1.47 billion.
Source:Philippine Star
October 08, 2021 15:56 UTC
Government steps up gold purchases
Government steps up gold purchasesJoseph Norbert David, director of the BSP Mint and Refinery Operations Department, told participants in a media lecture series that the volume of gold purchases of the BSP this year has already surpassed last year’s level. He reported that gold purchases by the central bank reached 115,800 troy ounces in 2020 or more than 11 times the 10,207 troy oz purchased in 2019. The BIR eventually issued RR 6-2012, slapping a five percent withholding tax and two percent excise tax on the gold purchases of the BSP from small-scale miners. There is an increase in our gold purchases as a result of the lifting of taxes imposed on our sellers,” David said. The BSP refines and converts all gold purchases into good delivery gold bars via its mint and refinery operations department, forming part of the country’s GIR.
Source:Philippine Star
October 08, 2021 15:56 UTC
US Senate raises nation's debt limit
Around 80 years ago, lawmakers introduced a limit on how much federal debt could be accrued. It isn't legal to raise the debt limit to cover future spending; it could only pay for past obligations and much of the $28-trillion national debt was accrued by Republican administrations. McConnell had been insisting since July that Democrats suspend the debt limit with no Republican help through a laborious and partisan process known as budget reconciliation. 'Uncertainty'Thursday's legislative Band-Aid buys the Democrats time to pass a longer term debt limit extension although they are still refusing to pursue reconciliation. And since it requires no help from Republicans, they worry that they will be forced to carry the political stigma of the $28-trillion-and-rising federal debt alone.
Source:Manila Times
October 08, 2021 15:56 UTC
Mayor Sara reiterates run for reelection
Mayor Sara reiterates run for reelection“I am presenting myself to the Dabawenyos for the third and last time of my life as a politician,” Mayor Sara Duterte-Carpio said, as she maintained she is bent on seeking reelection as Davao City mayor for her third and final term. MANILA, Philippines — Presidential daughter and Davao City Mayor Sara Duterte-Carpio shut the door for a presidential run despite consistently topping various surveys on possible presidentiables in next year’s polls. “I am presenting myself to the Dabawenyos for the third and last time of my life as a politician,” Duterte-Carpio said, as she maintained she is bent on seeking reelection as Davao City mayor for her third and final term. Duterte-Carpio further said she has no plans of seeking a higher position in the future for she wants to end her life as a politician only as Davao City mayor. Likewise, she said she has no plans of withdrawing her candidacy for Davao City mayor.
Source:Philippine Star
October 08, 2021 15:56 UTC
Recanted testimony
Recanted testimonyKrizle Grace Mago’s retraction of her testimony given during the Senate Blue Ribbon committee hearing carries no weight because the testimony was done under oath. The Supreme Court looks scornfully at recanted confessions or testimonies made under oath, according to Sen. Franklin Drilon. From where I sit, it is clear that Mago’s testimony to the Senate was spontaneous and not given under pressure. However, after her Senate testimony Mago disappeared for a few days, making senators worry about her safety. Recanted testimony is exceedingly unreliable as there is always the probability that it will later be repudiated.”Those are excerpts from the decision on Cecilia Rivac, Petitioner, versus People of the Philippines, Respondent.
Source:Philippine Star
October 08, 2021 15:56 UTC
P37.4 million shabu seized in Parañaque, Muntinlupa
P37.4 million shabu seized in Parañaque, MuntinlupaIn Parañaque, around five kilos of shabu worth P34 million were confiscated from suspected dealer Keneth Vito Cruz, 32, in Barangay San Isidro at around 8:45 p.m., according to PDEA National Capital Region field office director Christian Frivaldo.cMANILA, Philippines — Operatives of the Philippine Drug Enforcement Agency (PDEA) seized 5.5 kilos of methamphetamine hydrochloride or shabu with an estimated street value of P37.4 million during separate drug stings in Paranaque and Muntinlupa on Thursday. In Parañaque, around five kilos of shabu worth P34 million were confiscated from suspected dealer Keneth Vito Cruz, 32, in Barangay San Isidro at around 8:45 p.m., according to PDEA National Capital Region field office director Christian Frivaldo. Vito Cruz, who allegedly sold a kilo of shabu during the sting, is being held on charges of drug trafficking. In Muntinlupa, Bobby Cbak, 28, and Jesus Borja, 50, were arrested in Barangay Ayala Alabang at past 3 p.m. over 500 grams of shabu valued at P3.4 million. Meanwhile, two drug suspects were arrested in Barangay Ayala Alabang in Muntinlupa at around 3:02 p.m. that yielded P3.4 million worth of shabu.
Source:Philippine Star
October 08, 2021 15:56 UTC
Bria Homes joins Shopee’s 10.10 Brands Festival
Bria Homes joins Shopee’s 10.10 Brands FestivalMANILA, Philippines — In a bid to boost its online presence, Villar-owned property firm Bria Homes has joined hands with e-commerce platform Shopee for their 10.10 Brands Festival Sale this month. The “Add to Cart” partnership is among the over 100,000 brand deals currently being featured at the 10.10 Brands Festival. These include big brand giveaways, free shipping, and up to P1,000 off brand vouchers from top brands, including discounts on Bria Homes’ reservation vouchers. Bria Homes also offers various digital payment options for remittances and amortization fees. Bria Homes is a subsidiary of publicly listed Golden MV Holdings Inc., one of the leading real estate companies in the country.
Source:Philippine Star
October 08, 2021 15:56 UTC
Breakthrough infection still low for fully vaccinated – FDA
Breakthrough infection still low for fully vaccinated – FDAFDA director general Eric Domingo said of the 20.3 million people fully vaccinated against COVID, 516 got infected with the virus. MANILA, Philippines — The Food and Drug Administration (FDA) yesterday reported over 500 cases of breakthrough infections or fully vaccinated individuals getting infected with COVID-19, although the mortality rate remains low. FDA director general Eric Domingo said of the 20.3 million people fully vaccinated against COVID, 516 got infected with the virus. “Breakthrough infection can still occur in a small percentage of fully vaccinated individuals so we need to observe health protocols,” Domingo said at a virtual briefing. The bulk of breakthrough infection cases for all vaccines belong to the 18 to 39 age group.
Source:Philippine Star
October 08, 2021 15:56 UTC
Drug case vs Ongpin up for resolution
Drug case vs Ongpin up for resolutionMANILA, Philippines — The illegal drug complaint filed against art patron Julian Roberto Ongpin, a person of interest in the death of visual artist Bree Jonson, is now up for resolution by the Department of Justice (DOJ) as it terminated yesterday the preliminary investigation of the complaint. Delgado said Ongpin and his two lawyers were present during yesterday’s preliminary investigation of the illegal drug complaint filed against him at the DOJ along with some representatives of the Philippine National Police (PNP). She said that Ongpin submitted his supplemental counter-affidavit and furnished the PNP a copy of it. The DOJ took over the preliminary investigation of Ongpin’s illegal drug complaint by the PNP after 12.6 grams of cocaine was found in the room of a hostel in La Union where he and Jonson checked in on Sept. 17. Ongpin was the last person who was seen with Jonson before she was found dead at the hostel.
Source:Philippine Star
October 08, 2021 15:56 UTC
Comelec chief berates staff on live video
Comelec chief berates staff on live video“Kayo ba hindi kayo makakuha ng instruction? MANILA, Philippines — An irate Commission on Elections (Comelec) chairman Sheriff Abas was caught on Facebook live video yesterday berating his staff for apparently failing to comply with his instructions. Jimenez was heard suggesting that a press conference be held in-person since reporters were present during the COC filing. The Comelec immediately deleted the Facebook live video after the staff were informed by reporters that the conversation between the EID staff and Abas was being livestreamed. A virtual press conference was held shortly after Abas berated the EID staff.
Source:Philippine Star
October 08, 2021 15:56 UTC
FDA grants emergency use approval for Ronapreve against Covid-19
FDA Director-General Rolando Enrique DomingoTHE Food and Drug Administration (FDA) has given its emergency use approval (EUA) to a monoclonal antibody cocktail that will prevent mild and moderate infections from getting severe Covid-19. Molnupiravir, produced by Merck, is said to be effective in reducing the risk of hospitalization or death from Covid-19 by as much as 50 percent. According to Kishore Hemlani, founder of Faberco Life Sciences, with the distribution network of RiteMED, molnupiravir will reach healthcare facilities faster, which will allow Filipinos access to the drug. The drug will be produced by Aurobindo Pharma Ltd, which has been appointed as a partner manufacturer of Merck. Initial batches will arrive by next month once a compassionate special permit or an EUA has been issued by the FDA.
Source:Manila Times
October 08, 2021 15:55 UTC
Meralco survives late Magnolia rally to win
PBA PHOTODon't count out the Meralco Bolts just yet. Meralco hitting from the outside couldn't come at a more opportune time since the Bolts needed the win to avoid going down at 0-3 in the series. The win also gave Meralco the confidence to go for the series equalizer on Sunday. But the sense of urgency to win, according to Black, prompted everybody to be more aggressive defensively and offensively. The Bolts, however had some dry spell and had to survive a big Magnolia uprising in the fourth period.
Source:Manila Times
October 08, 2021 15:33 UTC
Undefeated Laurente to fight Sanchez
Photo courtesy from BoxRec websiteUNDEFEATED super featherweight Criztian Pitt "The Golden Boy" Laurente of GenSan will fight veteran Ernie "The Rock" Sanchez of Zamboanga del Sur on October 23 at the Barangay Bawing basketball court in this city. Laurente and Sanchez used to be sparmates at the Sanman Boxing Gym in GenSan. Laurente said he is familiar with the moves of Sanchez and is confident that he can beat his former boxing buddy. To prepare for this fight, Laurente (7-0, 4 knockouts) sparred with Harmonito "Hammer" Dela Torre (22-3, 14 KOs), Adam Diu "Big Daddy" Abdulhamid (16-9, 8 KOs) and Jhunrick Carcedo (6-1, 6 KOs). In his last title fight, the 29-year-old Sanchez lost to Pavel Malikov of Russia in the second round for the vacant Eurasian Boxing Parliament lightweight title in Lyubertsy, Russia.
Source:Manila Times
October 08, 2021 15:33 UTC
Rebisco bows to Sirjan in AVC opener
PHILIPPINE club Rebisco absorbed a 15-25, 22-25, 5-25 beatdown from Iranian squad Sirjan Foulad on Friday, October 8, to open their campaign in the Asian Men's Club Volleyball Championship at Terminal 21 Hall in Nakhon Ratchasima, Thailand. Save for the second set, Rebisco got outclassed by Sirjan in the match as the Iranian squad unleashed huge runs that the Philippine side could not recover in the first and third sets. After a close fight in the second set, Sirjan took the fight out of Rebisco with a 9-0 start in the third set en route to an easy win. With Sirjan leading 20-15 in the second set and looking to break the game wide open anew, the Filipinos put up a gallant stand to pull within one, 22-23. Rebisco tries to bounce back on Saturday, October 9, against Uzbekistan club AGMK in the second of its four preliminary matches in Pool B.
Source:Manila Times
October 08, 2021 15:22 UTC
Reviving the Purefoods tradition
THERE was a time when Purefoods, the basketball team, has been synonymous with playing in the championship round of the PBA All-Filipino Conference. Magnolia head coach Chito Victolero brought in the biggest piece of the puzzle this year with a vision of reviving the Purefoods winning culture. By the end of the quarterfinal round, Abueva paced all candidates with 36.4 statistical points (SP) with rookie Mikey Williams being his closest pursuer. A few more possessions could lead them back to the championship round and continue the team's rich tradition. And the old Purefoods tradition lives on.
Source:Manila Times
October 08, 2021 15:09 UTC