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BSP trims bonds’ reserve requirement rate to 3%

By MAYVELIN U. CARABALLO, TMT October 16, 2019 THE Bangko Sentral ng Pilipinas (BSP) has cut the reserve requirement rate for bonds issued by banks and quasi-banks (QBs) to 3 percent from 6 percent, which analysts said would level the playing field. Its policy-making Monetary Board approved the reduction “as …

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Cebu City mayor fires water district board execs

WATER DISTRICT. The facade of the Metro Cebu Water District building in Cebu City. Mayor Edgardo Labella on Tuesday (Oct.15, 2019) fired the chairman of MCWD, including three board members and the board secretary, after local government units in Metro Cebu expressed dissatisfaction in the water district’s services to water …

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Maguindanao market fire engulfs 30 stalls

FIRE AFTERMATH. Children and parents sift through what was left of their stalls at the temporary site of the public market in Barangay Dalican, Datu Odin Sinsuat, Maguindanao that was razed by a fire (inset) shortly before midnight Tuesday (Oct. 15, 2019). Damage to more than 30 makeshift stalls of …

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Cloudy skies with light rains on Wednesday

MANILA — Cloudy skies with light rains will prevail over parts of Luzon due to the northeasterly surface windflow on Wednesday. In its 4 a.m. weather bulletin, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said Batanes and Babuyan Group of Islands will have cloudy skies with light rains …

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Climate change’s next target: your natural gas range

World To reduce greenhouse gases, a growing number of California cities are banning natural gas hookups and forcing residents to switch to electric. California residents may have to get used to electric alternatives to natural gas ranges such as this induction stove.(Kim Brunhuber/CBC) Oliver Ta dribbles some chocolate chips into …

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