Caloocan solo parents to start getting P1K monthly aid
Thousands of qualified solo parents in Caloocan City will start receiving P1,000 monthly financial assistance this month, Mayor Dave Gonzalo «Along» Malapitan said on Monday.
Provident latest news
Philippines continues to boost ties with Japan for disaster management
MANULA, Philippines – Office of Civil Defense (OCD) administrator Undersecretary Ariel Nepomuceno said that there will be a continued effort to strengthen ties with Japan about disaster risk reduction and management.
Press Release - Bong Go reminds DOH: No patient should be turned away at Malasakit Centers as typhoon season brings added health risks
As the country is currently affected by the typhoon season, Senator Christopher "Bong" Go once again highlighted the vital role of Malasakit Centers in ensuring that no Filipino is denied access to essential healthcare services, particularly during disasters. This reminder comes as recent tropical storms, including Tropical Storm Enteng, have brought heavy rains and widespread flooding to various regions, raising concerns about healthcare accessibility.
Press Release - 'Patuloy na malasakit at serbisyo sa abot ng aking makakaya' -- Bong Go provides support to indigents in Mati City, Davao Oriental
On Friday, September 6, Senator Christopher "Bong" Go visited Barangay Sainz, Mati City, Davao Oriental, to assist thousands of indigents. This initiative aims to support individuals who have been significantly impacted by current economic challenges, among others.
SPNEC gets $600M equity investment in Terra Solar project
Meralco [MER 405.00 ?0.3%; 34% avgVol] [link] negotiated a deal for UK-based Actis to take a 40% equity stake in the Terra Solar project for $600 million. The Terra Solar project is currently 100% owned by MER’s affiliate, SP New Energy [SPNEC 1.31 ?0.8%; 120% avgVol]. The parties to the deal expect the transaction to officially close in early 2025. While no specifics were provided on how the deal will function, based on quotes from MER’s leadership group, it appears as though Actis will receive primary shares in the SPNEC wholly-owned subsidiary that owns the Terra Solar project, with the $600 million going to that entity and not to SPNEC directly. News of this deal broke after-hours on Friday, so it’s likely that both MER and SPNEC will issue clarifications this morning to provide more details.MB BOTTOM-LINE: MVP and MER appear to have solved the SPNEC problem in one shot. MVP has always said that he’s looking to sell a 40% stake in Terra Solar to a foreign investor, and while he hasn’t seemed to care whether that 40% goes all to just one investor or is split up between a small syndicate of investors, he’s never indicated a desire to part with more than 40% of the project. With Actis, SPNEC gets an experienced global investor in renewable energy with deep pockets to take the entire lot. As anyone who has accepted investment will tell you, it’s always easier to deal with just one large committed investor than an array of medium-sized investors with differing incentives, time horizons, and risk tolerances. SPNEC’s stock is up 30% over the past month, so let’s see how it reacts today.
Farmers: P7/K rice price drop in October unlikely
MANILA, Philippines — The P7 per kilo drop in rice prices in October is not possible amid the spike in the prices of imported rice from Vietnam where the bulk of the staple is sourced, according to farmers’ groups.
P4.39M claim vs PhilPost denied
THE Philippine Postal Corporation (PhilPost) does not have to pay the P4,368,000 claim filed by a Davao City-based information technology (IT) services provider on the ground that the person who filed the petition has no legal capacity to do so.
Philippines, US complete counterterrorism exercise
MANILA, Philippines — The Philippines and the United States have completed the bilateral Whole of Government (WOG) interagency counterterrorism exercise Tempest Wind 2024 in the country.