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Saturday, November 16 , 2024 Vol. 20 No. 38
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SOUTHERN CONNECTIVITY President Ferdinand Marcos Jr. on Friday led the Inauguration Ceremony of the LRT Line 1 Cavite Extension Phase I, which will extend LRT Line 1 to Cavite, and significantly improve connectivity to the southern part of Metro Manila and help reduce traffic congestion. Phase I involves the partial opening of five stations within the extension. Department of Transportation (DOTr) Secretary Jaime Bautista (middle photo), and Minister for Economic Affairs of the Embassy of Japan, Nihei Daisuke (right photo), joined the President in the celebration of the opening of the new stations, and also took a test ride on the extended line. In his speech, Minister Nihei expressed hopes that the new station “will provide the Filipino people more convenience in their everyday life and contribute to the overall economic development of the Philippines.” He affirmed Japan’s continued support to the country’s infrastructure development under the Build Better More (BBM) program, which will benefit millions of Filipinos. Official Development Assistance (ODA) from Japan is also supporting the construction of a rail yard and the introduction of new rolling stock on the LRT-1 extension line. EMBASSY OF JAPAN IN THE PHILIPPINES
SEPT REMITTANCES HIT $3B; FIN-LIT NEED CITED
LOOKING FOR A HOME? JUST ’ADD TO CART,’ SAYS PAG-IBIG
By Cai U. Ordinario
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F the national government wants to maximize remittances for nation building, more needs to be done to teach overseas Filipinos and their families financial literacy, an advocacy group said Friday, as the latest remittance flows were reported.
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UYING a home can now be “added to cart” as shelter agency Home Development Mutual Fund, commonly known as Pag-IBIG Fund, launched the Online Public Auction (Opa) to make the bidding of its acquired assets convenient and accessible. On Friday, Pag-IBIG introduced Opa to enable homebuyers to select from Pag-IBIG’s list of properties for sale and submit their bids through the online platform, eliminating the manual submission of bids in their branches. Continued on A2
HANOHIKI | DREAMSTIME.COM
On Friday, latest data released by the Bangko Sentral ng Pilipinas (BSP) showed cash remittances sent by overseas Filipino workers (OFWs) exceeded $3 billion in September 2024. The $3.01 billion level for September 2024 was higher by 3.3 percent than the $2.91 billion posted in September 2023. “In the case of OFW families, handling money better is not merely a mechanical thing. It is all the more an emotional affair,” Institute for Migration and Development Issues (IMDI)
By Reine Juvierre S. Alberto
“Handling money better is not merely a mechanical thing. It is all the more an emotional affair.”—Jeremaiah M. Opiniano, IMDI Executive Director
NNIC vows 50% passenger convenience enhancement for Christmas travel rush By Lorenz S. Marasigan
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RAVELERS flying through the Ninoy Aquino International Airport (Naia) this Christmas season can look forward to a significantly improved experience, the New Naia Infra Corp. (NNIC) said Friday, as it committed itself to a 50-percent enhancement in passenger convenience compared to last year. SMC President Ramon S. Ang, whose company leads NNIC, expressed optimism that the changes would bring relief to passengers during the holiday rush. “This Christmas season 2024, there will be at least 50-percent improvement from last year because now we know how to appeal to the airlines to avoid scheduling so many departures at almost the same time. We also asked them to Continued on A2
Insurance sector posts net income of ₧39.9B from Jan-Sept–IC data
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HE Philippines’ insurance industry recorded a net income of P39.928 billion, driven by the non-life sector, as of the third quarter of 2024. Latest data from the Insurance Commission (IC) showed that the total net income of life and non-life insurance companies and mutual benefit associations (MBAs) from
January to September 2024 represented a 4.23-percent increase from the P38.307-billion figure recorded in the same nine-month period of 2023. Non-life insurance companies booked a net income of P6.406 billion as of the third quarter of 2024, 17.17 percent higher than the Continued on A2
A K9 unit patrols NAIA Terminal 4, enhancing security measures in preparation for the terminal’s upcoming renovation. Built in 1948, Terminal 4, also known as the Manila Domestic Passenger Terminal or the Old Domestic Terminal, is the airport’s oldest and smallest facility. The New NAIA Infrastructure Corporation (NNIC) is focusing on safety upgrades, improved passenger flow, and modernized facilities, with the terminal expected to reopen in February 2025. Beginning November 7, 2024, airlines currently operating at Terminal 4, including Cebgo, AirSWIFT, and Sunlight Air, will temporarily relocate to Terminal 2 during the renovation. NONIE REYES
PESO EXCHANGE RATES n US 58.8140 n JAPAN 0.3764 n UK 74.4997 n HK 7.5585 n CHINA 8.1371 n SINGAPORE 43.7019 n AUSTRALIA 37.9468 n EU 61.9370 n KOREA 0.0419 n SAUDI ARABIA 15.6691 Source: BSP (November 15, 2024)