Sunday, 20 December 2020

LGUs urged to tap credit facility for devt

The Department of Finance (DoF) advised nearby authorities units (LGUs) to avail of the untapped P300-billion credit facility beneath the Land Bank of the Philippines to bankroll initiatives that might help the Philippine financial system recover from the impact of the coronavirus sickness 2019 (Covid-19) pandemic.



In a statement on Monday, the DoF stated that during the recent Union of Local Authorities of the Philippines virtual meeting, Finance Secretary Carlos Dominguez 3rd disclosed that based totally on the department's Bureau of Local Government Finance statistics, most effective round 35 percent to 40 percentage of LGUs within the usa have availed of loans in spite of very reasonable terms of 10 years at an interest price of 4 percentage to four.5 percentage.

"I need to factor out that the real borrowings of LGUs are a ways beneath their capability. They have best borrowed less than half," Dominguez said, further noting that round P170 billion to P180 billion loanable amount are still to be had for LGUs.

"There is lots of ability, however there is no usage of that ability," Dominguez delivered.
LGUs are considered low-danger debtors due to the fact they can pay for their loans with their annual internal sales allotment allocations from the national
authorities.
During the meeting, Dominguez additionally confident LGUs of persisted assist under Republic Act. 11469, or the "Bayanihan to Heal as One Act," to restart their respective nearby economies and businesses.

He stated as an example the extension of the convey-over period of internet losses in 2020 and 2021 from 3 to five years for groups that he stated will allow micro, small and medium corporations (MSMEs) to deduct incurred losses from tax payments for a longer duration, accordingly giving them more time to set their finances so as and go back to profitability.

Aside from this, Dominguez said the infusion of more capital to government economic establishments (GFIs) to make bigger lending to MSMEs may have a massive multiplier effect in financial activity, he stated, for the reason that every peso pumped into GFIs will generate around 10 times its value in credit.

Dominguez for the duration of the meeting additionally thanked the neighborhood chief executives for the "valuable paintings" they were doing in combating the Covid-19 pandemic and assured them of the national government's aid in helping LGUs bounce back from this disaster.


"The country wide financial system, after all, is the sum of all our neighborhood economies. LGUs are at the frontline of serving prone groups. You are also catalysts for constructing a new economy while we do all we can to cope with this worldwide health emergency," Dominguez said.

Saturday, 19 December 2020

Carrying on the ‘Oca’ legacy with a smile

The sound of ringing laughter and cheerful banter flitted thru the door and beyond the corridor as I approached the meeting room of Amosup Seamen's Center in Cabildo Street, Intramuros. A careful peek inside discovered a small group of humans within the middle of a lively verbal exchange at the same time as a few others hover about a small set, seeming to prepare for a video shoot.



 Hesitatingly entered the room. The organization paused from their communique to show and appearance, make introductions, and well known names. I turned into offered a drink, but it was now not the chance of espresso that stuck my attention. It was the sound of a smile if there's ever this kind of factor.

That changed into Dr. Conrado Oca, president of the Associated Marine Officers and Seamen's Union of the Philippines (AMOSUP). We should simplest see half of of his face, the element not protected with facemask, and nonetheless, absolutely everyone ought to determine out he's smiling as much as his forehead. Everything about the person regarded to ooze with optimism and baby-like glee, his phrases often paired with chuckles and quips.
None of my usually severe interview questions have been replied without a bit jest here and multiple laughs there. I even understand as I transcribe our short interview, that the communication become broadly speaking giggles and antics. In the midst of explaining the importance of Amosup's present day undertaking with the International Maritime Employers Council (IMEC) and International Transport Workers Federation (ITF), Dr. Oca peppered the verbal exchange with witty remarks approximately his meant Keto diet and the bizarre-searching however apparently cozy facemask he's carrying.

Anyone who doesn't know the person might now not without problems determine out, by using just a glance, who he actually is in the maritime enterprise. Casual collared shirt, Crocs, barely tousled hair, and a heat charisma that seemed to smile at every person nearby.

Apart from being a medical physician via profession and the chief of the Philippine's biggest seafarers' union, he is also the chairman of one of the u . S . A .'s ultimate maritime schools — the Maritime Academy of Asia and the Pacific (MAAP), whose curriculum was modeled after america Merchant Marine Academy. He is likewise the government board member of the London-based ITF and a member of numerous different distinguished maritime agencies.

Titles and ranks, however, define so little about his man or woman. Dr. Oca changed into even incredulous when advised that he could be featured in the Profile section of The Manila Times. He cheerfully disregarded questions about himself and opined that different human beings could describe him high-quality, all the even as hesitating whether he should supply his curriculum vitae and laughing on the apparently impossible concept of him being featured by using a daily.


"Dok likes to funny story around. He is the proverbial lifestyles of the celebration together with his corny jokes but he has the uncanny capacity to seize you flatfooted while you attempt to dismiss him as someone who is not as critical as Captain Oca," Manila Times Maritime editor Carmela Huelar says, regarding the overdue Capt. Gregorio Oca, founder of AMOSUP and one of the pioneers and pillars of the Philippine maritime industry.

"It's unsettling when human beings think he's joking but understand too overdue that he knows exactly what he is announcing, a truth within the guise of a comic story," Huelar persevered.

Indeed, this type of shell of joy was momentarily cracked by way of the point out of his father's name.

When asked as to his enjoy of taking up his father's legacy, a fleeting silence took over Dr. Oca. He attempted to come up with something witty but ended up inquiring for a tissue to blot the looming tears. The man did now not cry, though. His voice most effective misplaced its typical sparkle and become replaced by way of a quivering, quiet sound. He became abruptly extreme.

"It became tough [stepping on his shoes]. He turned into an institution. Everybody knew him and he left so much legacy for everybody to hold on. I turned into lucky to tackle his desirable paintings and keep what he started," Dr. Oca stated in a low voice.

"His endeavors are already set up and strong. We are really persevering with from where he left and from my element, it became a be counted of starting and strengthening relationships together with his companions, colleagues, and employees," he said, referring to the time while he needed to introduce his fashion of management that, on the outset, isn't the same as that of his father's.

"When it comes to negotiating the welfare of seafarers, Capt. Oca never backed down. He changed into so chronic. But at the back of that stern outdoors is a humorousness, a trait this is virtually inherited by means of Dok," Huelar said.

People agree that Dr. Oca has a tendency extra to the diplomatic aspect of leadership. This, however, is tinged with firmness on the subject of seafarers. "You should think of your goal whilst you are sitting throughout people and negotiating, and that is the gainful employment and welfare of our seafarers," Dr. Oca stated.

As he sooner or later sat on the makeshift studio to begin with taping a message to seafarers as AMOSUP is also celebrating its sixtieth yr this month — his workforce soaring approximately straightening his blouse and taming his hair — he resumed his vintage jolly self, giggling at rehearsals and even greater at some point of shoots. The guy may additionally have big footwear to fill but he never misplaced his pleasure and ardour.

And as the director known as "movement", Dr. Oca, sitting beside the strict-looking picture of his father, took on an similarly solemn expression and started out handing over his message to the Filipino seafarers — honest however with the uncanny sound of a grin.

Friday, 18 December 2020

Marina allows online ship audit

The Maritime Industry Authority (Marina) has carried out the recommendations in undertaking a far off inspection of ships and shipyards underneath the 'new normal' inside the maritime enterprise.

Marina Administrator Vice-Admiral Robert Empedrad issued Marina Advisory 2020-75, at the implementation of conduct of far flung inspection, survey, audit, compliance monitoring of employer, deliver, and shipyard, given the implementation of social distancing and mobility restrictions to save you similarly transmission of coronavirus ailment 2019 (Covid-19).


Marina allowed far flung inspection of ships and shipyards to make sure the safety and nicely -being of all, amid the Covid-19 pandemic.

"The faraway inspection, survey, audit, compliance tracking of companies, ships and shipyards shall be performed through on line video communication structures," Marina said.
The inspector, surveyor, auditor, and enforcers should use appropriate devices with a reliable internet connection to manage video communique. The officials and crew on board the deliver have to put on the correct uniform or attire at some stage in the inspection.

The online audits need to be coordinated with Marina's Shipyards Regulation Service (SRS), Maritime Safety Service (MSS), Marina Regional Offices (MROs). The special Marina technical employees from SRS, MSS, and MROs will assign a date for the inspection, survey, audit as quickly as the software is obtained and duly assigned.

The MSS will constantly undertake compliance tracking or random inspections to verify compliance of ships and shipyards with Marina policies and guidelines and different applicable legal guidelines.

The refusal of the corporation to undergo faraway compliance tracking or non -cooperation with none legitimate cause might be deemed non-compliance with present Marina regulations and regulations.


Marina inspector or enforcer can also advocate revalidation or reinspection of the qualification and preserving requirements of the deliver or shipyard specifically on protection.

"The far flung inspection, surveys audits, and compliance tracking are with out prejudice to the conduct of the same in an actual or onsite association if the situations warrant, especially on situations which can be determined to pose an drawing close risk to the ship, shipyard, lives, or the surroundings, issue to stringent statement of protection and fitness protocols," in step with Marina Advisory.

The tips will take effect without delay and could remain valid and subsisting till otherwise revoked or till the pandemic situation ceases, whichever comes in advance.

Vicente Poño, Chairman of the Board, Ship Managers Association of the Philippines (SMAP) said in latest months, deliver surveys suffer due to the fact surveyors were unable to tour. During that point, the administration issued circulars permitting deliver managers to request for extension of survey due dates.

He said elegance society has been running to provide ship managers with far flung surveys making use of ICT deliver survey structures for hull and equipment, primarily based on condition, monitoring, or assessment.

Ship managers control jobs through digital conversation, which may be very powerful in the course of a plague.

SMAP believes that faraway survey applies to Philippine-flagged vessels even those in the domestic change.

Avenir Advantage has been chartered by means of Petronas LNG to provide ship-to-ship LNG bunkering to vessels across Malaysia, and shipping offerings as an LNG provider for small-scale terminals within the area.

Avenir LNG's CEO, Milorad Doljanin said the flexible layout of the vessels way the ships can guide the development of the LNG bunker fuel market in the shorter term.

It underpins its strategic objective of enabling LNG supply to energy customers who had been formerly not able to enjoy the environmental and cost advantages which LNG presents.

Keppel O&M is currently building 8 twin-gas vessels and is also promoting LNG as a marine gasoline through FueLNG, its joint undertaking with Shell Eastern Petroleum, which presents safe truck and vessel LNG bunkering answers in Singapore. GVF

Thursday, 17 December 2020

Germany next banks’ destination after Brexit

BERLIN: Germany is the most popular EU vacation spot for banks leaving London following Brexit, with monetary institutions expected to transport 675 billion euros in property and create 2,500 jobs, the Bundesbank stated Monday (Tuesday in Manila).

The German critical bank expects lenders to transfer 397 billion euros ($462 billion) more than the 278 billion euros it has already moved from Britain submit-Brexit, it said in a look at, as negotiations intensify surrounding the conditions for the United Kingdom's new relationship with the European Union.


The European Central Bank estimated in August 2019 that 1.3 trillion euros in property could be transferred to the eurozone from Britain ahead of Brexit.

Britain left the 27-state bloc on the quit of January, however is presently negotiating its destiny relationship with the EU amid a transition duration that ends on December 31.
The spectre of a "cliff-part" no-deal Brexit, which might upload greater barriers to go-border business, has risen in latest weeks as negotiations stalled over fair-change policies and fishing rights, with EU Commission chief Ursula von der Leyen pronouncing ultimate week that talks had been in a "vital section."

The Bundesbank take a look at confirms banks' desire for Germany as a base for operations far from London, estimating a total of 675 billion euros in relocated assets.

By comparison, round 150 billion euros of belongings will be moved to France with the aid of the stop of the 12 months, France's principal bank governor stated.

Sixty-4 monetary institutions have applied for banking licences in Germany, with 40 up to now having been authorised, and the remainder pending.


Financial establishments moving operations out of the City of London have to enhance bank workforces in Germany by way of as many as 2,500 positions.

US bank JP Morgan stated in September it'd shift some 2 hundred billion euros ($233 billion) from the square mile to Frankfurt, which might make it considered one of Germany's biggest lenders through belongings.

The Bundesbank additionally stated the financial quarter turned into generally properly organized for Brexit, echoing ECB supervisory board chair Andrea Enria, who said that banks are "now equipped to take the hit, to a point."

Wednesday, 16 December 2020

Anti-smoking law in the sejm

Anti-smoking law-this is the name given by the deputies of the Kukiz’15 club to the project that they presented last week. They expect that its possible adoption will limit the extent of abuses associated with the employment of family and friends in public positions, regardless of their competence. He called the project "revolutionary and innovative". We will-as we do-check the background of the document and consider what the chances of its adoption are.


Anti-smoking law. Kukiz’15 justifies


Let's start with how the authors of the project justify its creation. they pay attention to the negative consequences of nepotism . We read that these phenomena lead to "irrational and mismanagement of public funds," reduced productivity, and "diminished prestige and trust in public institutions." plus, during the quarantine, many people had difficulties with their work and financial situation.but unfortunately, not everyone is interested in online platforms on which you can also have income. Due to the lack of trust and feedback, many do not even dare to try,but
deltamarket.net is checked for the presence of reliable information and how to apply it correctly.

In addition, it was noted that the actual extent of this type of abuse is extremely difficult to assess. The authors refer to CBOS research in recent years. In one of them, more than 90% of respondents rated nepotism as a uniquely negative procedure, and in another – 85% pointed to patronage in hiring as the most common (at least in a social sense) example of abuse of power.

Specific suggestions


The negative nature and consequences of nepotism and nepotism are non-negotiable. Definitely more interesting are suggestions on how to deal with such phenomena. What are the prerequisites of the project?

Obligation to make statements


all persons holding senior positions in public institutions will be required to make a statement on family relations. "This law will lead to a broad disclosure of family relations in public sector units," says Tishka. The duty, of course, applies not only to positions in central government, but also at all levels of local government and in treasury companies. The Central Anti-Corruption Bureau should be responsible for verifying the information contained in the statements. The authors suggest using a similar principle for applicants for senior positions.

Penalties for non-performance of obligations


Subsequent entries relate to sanctions for refusing to submit the said application, failing to comply with it within 30 days, or claiming a lie. For non-compliance with the provisions of the law, you will face a fine, restriction of freedom and even imprisonment for up to 3 years. The same sanctions will be imposed for using their influence to implicitly populate positions in government institutions of family members and acquaintances. At the moment, the project is the subject of public consultations. A few days ago, it was also sent to local government organizations for consideration.

What will the clerk say?


Kukiz ' 15 counts on the support of other clubs, especially Law and justice. Is there any chance of that? the opposition is very willing to list examples of recent years when family members of politicians of the ruling party and other persons associated with it held positions in state institutions. Members of opposition parties quite clearly hint at the same time that support for this initiative would not be in the hands of the urinal. it is still difficult to judge how the ipr will behave during the work and voting on the project.

On the one hand, rejecting the proposal may be difficult, on the other hand, politicians of the ruling party are already expressing some doubts. "Let's approach the matter realistically, because if someone becomes a deputy or becomes a senator, and his wife or husband has been working in a particular company for many years, then he will not be able to work?"commented on" hot " the Deputy head of the Ministry of defense Wojciech Skurkovich.