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UBS Wealth Management pushes back Fed rate-cut forecast to June

Inquirer Breaking News - Wed, 02/21/2024 - 19:56
UBS Global Wealth Management said it now expects the U.S. Federal Reserve to start lowering interest rates in June, compared to its prior view of cuts beginning in May. The economy has been "resilient" in the face of tighter monetary policy, which has led the brokerage to push back its earlier forecast of a 25 basis points cut in May to June. READ:Fed signals 'patience' on rate cuts as data disappoints "Given the upside surprises to both payrolls and inflation, we now expect the Fed to wait a bit longer before cutting rates," UBS economists said in a note dated Feb. 20. U.S. consumer prices rose more than expected in January amid a surge in the cost of rental housing, rec...

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Tumbling US natural gas prices unstoppable, hurting producers

Inquirer Breaking News - Wed, 02/21/2024 - 19:42
BRIDGEPORT, Texas - For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or selling themselves to rivals to avoid losses. Natural gas prices this month fell to an inflation-adjusted 30-year low of $1.59 per thousand cubic feet, benefiting consumers of the fuel like utilities, but hurting producers who are selling at nominal prices as low as they were in the depths of the COVID-19 downturn. Nowhere is the ...

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Solon: Imee move to cut 4Ps fund didn’t expect more beneficiaries

Inquirer Breaking News - Wed, 02/21/2024 - 19:39
MANILA, Philippines --- The 2023 proposed budget for the government's conditional cash transfer program was above what Senator Imee Marcos preferred because the government was expecting to assist more poor families, 4Ps party-list Rep. JC Abalos said on Wednesday. Abalos in a press briefing at the House complex explained that under the Pantawid Pamilyang Pilipino Program (4Ps), the Listahanan 3 or the process of identifying beneficiaries was supposed to start in 2019, but two fortuitous events prevented it --- a reenacted budget in 2019 and the COVID-19 pandemic in 2020. This forced the Department of Social Welfare and Development (DSWD) --- which implements the 4Ps --- to dist...

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DOTr discussions with Jica to bring out better rail system projects

Inquirer Breaking News - Wed, 02/21/2024 - 19:32
MANILA, Philippines --- Continuous dialogue with the Japan International Cooperation Agency (JICA) will fast-track the completion of major railway projects in the country, the Department of Transportation (DOTr) said on Wednesday. During a bilateral meeting between the DOTr, JICA, and the Japanese Ministry of Land Infrastructure, Transport and Tourism, Transport Secretary Jaime Bautista suggested that concepts and ideas raised at the meeting should be brought to the frontlines of rail projects. READ: Jica lauds DOTr for completing overhaul of 72 LRVs for MRT-3 These projects include rail lines, depots, and stations. "Let us move beyond table-top discussions. Let us cascad...

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CWC wants child welfare hotline institutionalized

Inquirer Breaking News - Wed, 02/21/2024 - 19:31
MANILA, Philippines --- An executive order (EO) institutionalizing the "Makabata Helpline" as the main line for reporting sexual abuse and exploitation of children in the country is being pushed, said the Council for the Welfare of Children (CWC) on Wednesday. The Makabata Helpline, launched in 2022, is the CWC's hotline aiming to provide a means of reporting abuses, exploitation, and neglect of children. READ: At least 17,600 children suffered violence and abuse in 2023, says PNP According to CWC executive director Usec. Angelo Tapales, the institutionalization of the Makabata Helpline will fall under the launch of a certain "Pagasa" program with the proposed EO. "'Pag '...

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Canonical coronation for Nuestra Señora de Fatima de Marikina

Inquirer Breaking News - Wed, 02/21/2024 - 19:23
  MANILA, Philippines --- The Marian image of the Nuestra Seora de Fatima de Marikina was honored with a canonical coronation by Pope Francis. In a statement Tuesday, the Shrine and Parish of St. Paul of the Cross said the canonical coronation rite will be held on May 12, 2023 and will be presided over by Diocese of Antipolo Bishop Ruperto Santos. Novena masses are set from May 3 until 11. "The canonical coronation is the highest honor given by the Catholic Church to an image of the Blessed Virgin Mary," the statement read. A canonical coronation is a papal honor bestowed upon an image of Jesus, Mary or Joseph. According to the Diocese of Antipolo on Sunda...

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Japan Airlines admits subsidiaries cheated on driving tests

Inquirer Breaking News - Wed, 02/21/2024 - 19:15
TOKYO ---Japan's two biggest airlines admitted that subsidiaries allowed employees to cheat on written driving exams, according to a statement and local media, the latest embarrassing episode for the country's aviation sector. Japan Airlines (JAL) said that 11 employees from two of its subsidiaries "engaged in the malpractice of answering questions while looking at textbooks" between 2022 and 2024. Their driving permits have been returned to authorities, JAL said, adding that five test supervisors were also involved in the cheating. Bloomberg reported that the workers who cheated had driven baggage cars and catering vehicles at Tokyo's Haneda Airport. The misconduct is "a com...

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UAAP volleyball: Lyka De Leon stepping up for La Salle

Inquirer Breaking News - Wed, 02/21/2024 - 19:08
MANILA, Philippines --- Lyka De Leon admitted it's not easy filling in the big shoes left by former libero Justine Jazareno. De Leon, however, vows to but she vows to be at her best in protecting the floor to help the La Salle Lady Spikers in their UAAP volleyball title defense. "With the sudden departure of [Justine Jazareno], it felt like I was forced to step up out of the blue," said the sophomore libero in Filipino. "At first, I was really having a hard time but my coaches guided me through it and my teammates supported me and told me I can do it. Slowly, I'll get there." SCHEDULE: UAAP Season 86 volleyball first round Although she is facing a bigger challenge and respons...

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Maris Racal recalls how she, Rico Blanco kept their relationship ‘secret’

Inquirer Breaking News - Wed, 02/21/2024 - 19:01
Maris Racal admitted the first two years of her relationship with Rico Blanco away from the limelight were the "happiest," but her desire not to keep the "love of her life" hidden from the world forever made her decide for them to finally come out in the open. Sitting down for Dr. Vicki Belo's latest vlog, the "Can't Buy Me Love" actress shared that she and Blanco used to go abroad just to date each other, which went on for two years as they tried to shy away from the spotlight. "I kept it for two years," she said, "'Yung quiet nung two years na 'yon it was one of the happiest years na na-experience ko kasi totoo lang siya. There are no pretensions. Masaya lang kami. We never d...

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Kuwait appellate court affirms conviction of OFW Ranara’s killer

Inquirer Breaking News - Wed, 02/21/2024 - 19:00
MANILA, Philippines - The State of Kuwait's Appeal Court has affirmed the guilty verdict and conviction of the killer of overseas Filipino worker (OFW) Jullebee Ranara in Kuwait, the Department of Migrant Workers (DMW) announced Wednesday evening. In a statement, DMW said the State of Kuwait's Appeal Court fully adopted the guilty verdict and sentence against 17-year-old Turki Ayed Al-Azmi of 1 year imprisonment for driving without a license and 15 years imprisonment for murder The body of Ranara, a household service worker, was burned and buried in the desert on January 21, 2023. Autopsy reports likewise showed that she was pregnant. "We have informed...

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INQToday: Too many women fight over me, ‘pinag-aagawan ako’ – Quiboloy on rape

Inquirer Breaking News - Wed, 02/21/2024 - 18:54
https://youtube.com/live/gJgo0z3fsN8   Here's a quick roundup of today's top stories: Quiboloy on rape: Too many women fight over me, 'pinag-aagawan ako' Pastor ApolloQuiboloy has refuted the sexual abuse allegations made by former members of his religious sect. He made his denial in a 36-minute video statement on Wednesday.   Quiboloy admits he is in hiding amid kill plot Amid pressure from both the Senate and the House of Representatives for him to face their hearings, Apollo Quiboloy, a pastor of the Kingdom of Jesus Christ (KJC) based in Davao City, admitted being in hiding due to a supposed plot to have him killed. In a 36-minute voice message uploaded o...

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DOJ to act on alleged cyanide fishing in WPS

Inquirer Breaking News - Wed, 02/21/2024 - 18:53
  MANILA, Philippines - The Department of Justice (DOJ) is determined to take action against reported cases of cyanide fishing by Chinese fishermen in Bajo de Masinloc or Scarborough Shoal in the disputed West Philippine Sea. "Under the leadership of President Marcos Jr., the Philippines will not tolerate any actions that harm our environment or deprive Filipino people of their right to its use and beauty," Justice Secretary Jesus Crispin Remulla said in a statement Wednesday. Remulla said the DOJ will support agencies gathering pieces of evidence and building a case behind cyanide fishing. "The impact on these coral reefs is devastating," said Remulla. "These ecosystem...

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UAAP volleyball: La Salle explains armband used in win over FEU

Inquirer Breaking News - Wed, 02/21/2024 - 18:38
MANILA, Philippines --- La Salle players on Wednesday wore a black armband during their game against Far Eastern University in the UAAP Season 86 women's volleyball tournament. The armband, apparently, isn't just any other accessory as it is a recovery-focused fitness tracker that monitors the physical loads and measures the severity of strains during the game. La Salle assistant coach Noel Orcullo and reigning MVP Angel Canino said they use it to monitor the Lady Spikers' recovery. SCHEDULE: UAAP Season 86 volleyball first round "It tracks the performance and recovery of the body," said Canino, who had 13 points and seven excellent receptions in La Salle's 25-20, 25-17, 25-2...

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Miss World 2024: Gwendolyne Fourniol dazzles in pre-pageant fashion

Inquirer Breaking News - Wed, 02/21/2024 - 18:28
Gwendolyne Fourniol set foot in India with a clear goal of bringing home the Philippines' second Miss World crown, as can be seen in her glamorous ensembles before the pageant's preliminary competition and coronation night. Almost two years had passed since Fourniol's coronation as the country's representative to the 71st Miss World competition after the pageant's repeated changes in schedule. She ultimately flew to New Delhi in India weeks ahead of the coronation on March 9 (March 10 in the Philippines). Her long wait was worth it as Fourniol stunned fans with a colorful national costume by Louis Pangilinan, which is a tribute to "Hiligaynon's authentic Ilonggo textiles," as s...

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Marcos refutes solon’s claims on budget realignment affecting 4Ps funds

Inquirer Breaking News - Wed, 02/21/2024 - 18:10
MANILA, Philippines --- Senator Imee Marcos denied on Wednesday allegations that her proposed budget realignments in 2023 led to 4.3 million poor Filipinos not getting their aid through the Pantawid Pamilyang Pilipino Program (4Ps). In a statement, Marcos noted that in September 2022 hearings for the 2023 budget, the Department of Social Welfare and Development admitted that per financial reports only 45 percent of the 4Ps budget had been spent. According to Marcos, to avoid the "threatened return" of unspent 4Ps allotment, she recommended that the balance of P8 billion instead be realigned to "quickly implementable" DSWD projects instead. "So it was divided among supplemental f...

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China told: Respect PH sovereign rights in conducting lawful joint patrols

Inquirer Breaking News - Wed, 02/21/2024 - 18:02
MANILA, Philippines --- National Security Adviser Eduardo Ao on Wednesday urged China to respect Philippine sovereign rights after it accused the country and the United States of "stirring up trouble" after its joint patrols in the West Philippine Sea. Manila and Washington conducted the third maritime cooperative activity (MCA) inside the western section of the country's exclusive economic zone (EEZ) in second phases on Feb. 9 and Feb. 19. China's military criticized the mission, saying that the Philippines has "stirred up trouble" by conducting a joint air patrol with "extraterritorial countries" and then publicly "hyping it up." Ao rejected this assertion, saying that the act...

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Second Bugatti Chiron car turned over to BOC

Inquirer Breaking News - Wed, 02/21/2024 - 18:00
MANILA, Philippines --- The owner of the blue Bugatti Chiron --- one of the two sports cars that were flagged by authorities --- has surrendered the vehicle to authorities, according to the Bureau of Customs (BOC). The BOC, in a statement on Wednesday, said that the allegedly smuggled sports car was turned over earlier to the bureau's Customs Intelligence and Investigation Service (CIIS) agents and personnel from the National Bureau of Investigation (NBI) and the Philippine National Police (PNP). "Today, we are happy to report that the blue Bugatti sports car we've been looking for was finally surrendered to the BOC," Customs Commissioner Bien Rubio sa...

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ONE: Adiwang confident about Pacio’s chances in Brooks title rematch

Inquirer Breaking News - Wed, 02/21/2024 - 17:55
MANILA, Philippines---Lito Adiwang likes Joshua Pacio's chances against strawweight champion Jarred Brooks in their upcoming world title rematch in ONE 166: Qatar on March 1 at Lusali Sports Arena. Adiwang, in fact, thinks a well-trained Pacio is capable of knocking out Brooks. "For sure, he knows how strong Jarred is now, he knows the precarious positions he has to avoid, and I expect his game to show up this time," said Adiwang, who has won his last three fights after beating Danial Williams last Friday at ONE Fight Night 19 in Bangkok, Thailand. "I've been training with Joshua and I fought Jarred, and all I can say is that if Joshua got the proper training and adjustments...

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Danica Sotto jokingly calls Thia her child: ‘Kapatid ko pala’

Inquirer Breaking News - Wed, 02/21/2024 - 17:55
Danica Sotto drew laughs from netizens after she quipped that as a mom, she makes sure her "children"---including her youngest and newborn sister Thia Marceline---get a good sleep. Danica---who has a 41-year age gap with the newborn daughter of her dad Vic Sotto and his wife Pauleen Luna---was carrying Thia as she hopped on the "as a mom" trend. The trend includes mothers sharing their relatable experiences and moments in their motherhood journey. The now-expired video of Danica was originally posted by Mara Sotto-Fortuna on Instagram on Tuesday, Feb. 20, but it has been re-uploaded by fan account @team_bosleng. "As a mom, I really make sure na talagang mahimbing ang tulog n...

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Quimbo: House backs wage hike, but will study proposals intently

Inquirer Breaking News - Wed, 02/21/2024 - 17:50
MANILA, Philippines --- Marikina 2nd District Rep. Stella Quimbo has clarified that while the House is not against daily minimum wage hike proposals, these should be studied intently to achieve equitable distribution of increased salaries. Quimbo, in a press briefing on Wednesday, explained that they are worried that the P100 across-the-board increase may not be enough for some workers, like those in the National Capital Region (NCR) because the cost of living is higher in Metro Manila than in some provinces. According to the lawmaker, a P100 per day increase for minimum wage earners in NCR corresponds to a 16 percent increase, but for Zamboanga Peninsula, it is a 26 percent increa...

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