Local banks rediscount loans drop 82% in January

Amid strong liquidity in the financial system, rediscount loans to local banks for the financial of businesses and household needs fell 82 percent in January this year.

Data from the Central Bank’s peso rediscount facility showed the availments amounted to P11 million last year, or P50 million lower compared to P61 million in the same month a year ago. Bangko Sentral ng Pilipinas (BSP) said 62 percent from the total amount of availment went to capital expenditures, while 37 percent went to agricultural credits.


Duterte admits tension on Presidential debate

Davao City Mayor Rodrigo Duterte felt nervous about the Presidential Debate held at Cagayan De Oro yesterday. Even with home advantage he still felt tensed and nervous because his competitors were also good, he admitted. That was the first debate that was held outside Manila. On May 20, 2016, the 5 candidates will have another debate at the University of the Philippines Campus in Cebu City.


Senator Defensor-Santiago won’t back out despite lung cancer

No illness can stop Presidential Candidate Senator Miriam Defensor-Santiago from running in the government position. In the first helf presidential debate organized by the Commission on Elections (COMELEC), the senator defended against the criticisms about her health.

Senator Miriam Defensor-Santiago was diagnosed with stage 4 lung cancer but she claims that she has already beaten it. She added that it is her right to run in the presidential elections for no constitutional provision states that a sick person running for government position is disqualified.


170 families evacuate from fuel depot fire in Batangas

A fire struck a fuel depot in Barangay Salong, Calaca, Batangas on Saturday that caused almost 172 families to evacuate. The blaze erupted at the Phoenix Petroterminals and Industrial Park after a hydraulic hose burst at the storage area of liquefied petroleum gas (LPG) tanks. Residents near the industrial park immediately fled from the area after hearing loud explosions And smelling a strong stench of burning fuel in the area. Additional relief aid for the residents are expected to be distributed on Sunday morning. Meanwhile, the management of Phoenix Petroterminals has yet to release an official statement on the incident. There were no reported fatalities in the blaze as of posting.



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