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Former rebels undergo sustainable livelihood grant

July 11, 2020

BUENAVISTA, Agusan del Norte--The troops of 23rd Infantry (Masigasig) Battalion (23IB) facilitated the conduct of a Pre-Orientation on Livelihood Settlement Grant (SLG) for (Former Rebels) held at the Headquarters, 23IB, Jamboree Site, Purok 6, Brgy Alubihid, Buenavista, Agusan del Norte on July 8, 2020. The orientation on Sustainable Livelihood Program Modalities and Processes is intended for the provision of livelihood to the FR beneficiaries under Executive Order 70 (EO 70). The orientation was conducted by Mr. Ian N. Lupango, Project Development Officer II of the Department of Social Welfare and Development (DSWD). The SLG, also dubbed as the “Kabuhayan Para sa Kapayapaan!” was implemented in connection with the EO 70 that institutionalized the Whole-of-Nation Approach in attaining inclusive and sustainable peace and the creation of the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC). The Order also directed the adoption of a national peace framework issued by President Rodrigo Roa Duterte. SLG is a financial assistance directly provided to each eligible FR to support the establishment or continuity of their livelihood or economic activities in their communities. The said pre-orientation activity will be followed by the crafting of a final project proposal for the sustainable livelihood program of the FRs.   Meanwhile, Lieutenant Colonel Julius Cesar C Paulo, 23IB Acting Commanding Officer, stated that the government and the Army, especially the 23IB will always adhere to its promises of helping the FRs TO have a productive and progressive living with their families. He also emphasized the need to capacitate the FRs for them to be able to face the various economic challenges as they begin their renewed lives with their families. Paulo pointed out that it is not enough to accept the FRs after their surrender and send them home but it is also important to equip them with knowledge and skills that will serve as their tools to improve their economic lives. “Through the implementation of EO 70 and the E-CLIP, we assure that the FRs' lives will be improved through the implementation of the socio-economic program or the financial assistance provided by the government for them to have a sustainable livelihood that they can use to supply the daily needs of their families. For the remaining members of the CTGs, I urge you to go back to the folds of the law and avail all the programs of our government for you, “Paulo said. (PR)

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SEC paving way for new investment vehicle to upport corporations' liquidity needs amid pandemic

July 11, 2020

THE Securities and Exchange Commission (SEC) is working on a new regulatory framework for the development of a capital market where closed-end investment companies primarily invest in corporate debt papers of large and medium enterprises, as part of efforts to cushion the economic fallout of the COVID-19 pandemic. The Commission on July 8 issued for public comment the draft rules providing the minimum requirements and guidelines in the creation and operation of such investment companies called Corporate Debt Funds (CDFs). “With the proposed regulatory framework, we hope to help avert credit and liquidity crises that may arise from the economic downturn caused by the COVID-19 pandemic, and support the recovery of businesses and the overall economy therefrom,” SEC Chairperson Emilio B. Aquino said. “The new investment vehicle called Corporate Debt Fund will be particularly helpful in providing for the liquidity needs of large- and medium-sized corporations for repayments, emergency spending and investments necessary to sustain their operations and preserve jobs in these challenging times.” A CDF is a closed-end investment company that offers for sale a fixed number of non-redeemable units of participation or shares and has a limited offer period. Its objective is to invest in the portfolios of corporate debt papers of large corporations and medium-sized enterprises operating or deriving income in the Philippines, or any company guaranteed by a large or medium-sized domestic corporations or by the Philippine government and/or its agencies. The CDF may offer different share or unit classes with similar investment objectives but are managed as separate asset pools. Each class shall correspond to a distinct part of the assets and liabilities of the CDF. Subscription in a CDF is done only on initial public offering and redemption is at maturity although it can make periodic distribution of income to investors on a pro-rata basis. It may also pay out the proceeds of the underlying investments of each share/ unit class upon their liquidation until the termination and maturity of its securities. To incorporate, the CDF shall have a minimum subscribed and paid up capital of P50 million. But as an exception, the subscribed and paid up capital shall not be lower than P1 million, if the CDF forms part of a group of investment companies to be created or already in existence to be managed or under management by the same fund manager with a track record of at least five years. The CDF shall be exempt from the registration requirements prescribed under Section 8.1 of Republic Act No. 8799, or The Securities Regulation Code. However, such exemption must be confirmed or approved by the SEC and, for such purpose, the CDF shall submit a simplified prospectus and a product highlight sheet. Moreover, the conduct by any person in the purchase, sale, distribution of CDF securities, settlement and other activities shall comply with the provisions of The Securities Regulation Code and applicable rules. The approval or confirmation by the Commission of the CDF shares or units as an exempt transaction shall likewise be subject to a payment of a fee. The prospectus shall include the investment objective, strategy and limitations of the CDF, the investment powers of the fund manager; the valuation methodology used, the key risks and risk management processes of the CDF, the liability of the CDF and fund manager, and the rights and protections afforded to investors, among others. The CDF may issue its shares or units in tranches. It shall issue the first tranche within six months from the approval of its simplified prospectus and product highlight sheet, and the subsequent tranches within three months from the filing of a current report outlining the material changes in its prospectus and the updated prospectus. The CDF may offer the securities to qualified buyers such as banks, pension funds, insurance companies and registered investment houses under private placements, or to not more than 19 non-qualified buyers in the Philippines during a 12-month period. The CDF shall invest the proceeds from the issuance of securities in corporate debts such as bonds and promissory notes of large corporations and medium-sized enterprises. However, it may also invest in deposits and money market instruments pending the deployment of the proceeds in accordance with its investment objectives. Investments in corporate debt issued by a single enterprise must not exceed 25% of the net asset value (NAV) of the CDF and 50% in the case of single group entities. The limit shall be computed based on the total proceeds of the securities sold within the initial offering period. The single issuer limit may be raised to 30% if the corporate debts are assessed by any domestic or global rating agency to have the best quality and highest safety for timely payment of interest and principal. It may also be waived if the CDF securities have a capital protection feature. The reportorial requirements of the CDF shall include a monthly report showing its net assets, details of corporate debts acquired for the month, and the outstanding balance of the investments held in the portfolio. In its annual audited financial statements and interim financial statements, the CDF shall likewise present a combined statement of net assets and a detailed breakdown of the financial statement for each class of share/ unit. The draft Rules on Corporate Debt Funds, prepared  in consultation with the mutual fund industry through Philippine Investment Fund Association (PIFA), are available on the SEC website. All interested parties may submit their comments on the draft rules not later than July 17 to the SEC Corporate Governance and Finance Department located on the Ground Floor, Secretariat Building, PICC Complex, Pasay City. Comments may likewise be emailed at cgfd@sec.gov.ph and cgfd_ld@sec.gov.ph.

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Oro dads give mayor green light to sign agreement with Taiwan on mental health

July 11, 2020

CAGAYAN de Oro City--THROUGH an ordinance, the 19th City Council during its regular session presided over by Vice Mayor Raineir Joaquin V. Uy authorized City Mayor Oscar Moreno to enter into and sign the Memorandum of Understanding (MoU) with the International Mental Health Training Center Taiwan (IMHTCT). This covers the collaboration of the parties in developing cooperation activities focusing on mental health education, research and training, and for purpose of achieving various aims and objectives relating to the International Mental Health Training. IMHTCT is an institution under the authority of the Ministry of Health and Welfare Government of Taiwan. This center is composed of four hospitals; Taoyuan Psychiatric Center, Tsaotun Psychiatric Center, Kai-Syuan Psychiatric Hospital and Taipei Veterans General Hospital Yuli Branch. The Gavel learned that the purpose of the center is to provide the psychiatric staff’s training courses. These courses are child psychiatry, comprehensive treatment, rehabilitation and community psychiatry, hospital management and public health program. In his letter to the City Council, Mayor Moreno said this partnership will greatly benefit the city in relation to the enhancement of its mental health services to its constituents, including the implementation of the upgrading program for the House of Hope facility in collaboration with the various stakeholders. Under the MOU, both parties shall endeavor to assist and support each other in the collaboration for the projects that may mutually benefit each other. IMHTCT agrees to accept the city’s staffs for internship and give related training. Both parties also agree to explore possible methods, strategies and experiences use in mutual social engagement and partnership among various sectors that could assist each other for particular needs, among others. (SP/JBDacer)

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Oro dad calls for solutions to slow internet connections

July 11, 2020

CAGAYAN de Oro City--“Connectivity is a problem by all, not only by schools but also even in households. We should intervene, if necessary, interfere so that we can find solutions and bridge the gap between the concern of connectivity among students, schools and business transactions in our locality.” This was pointed out by Councilor Ian Mark Q. Nacaya in his special report during the regular session Monday presided over by Vice Mayor Raineir Joaquin V. Uy relative to the prevailing problem on poor internet connections in the city. Nacaya said he has been receiving several complaints pertaining to the weak and sometimes strong but intermittent signal that has been provided by PLDT, Globe, Smart and all other providers for internet connections especially now that some private schools have already started their online classes. “As we all know not only schools but also online businesses have been using internet connections for simple reason, to provide services, transactions thru this facility and to provide learning. But how can our students learn from this new normal with online classes if there is no connection?” cited the councilor. The councilor would also like to know the reason why the providers could not provide for a large number of people even if they have the strong signal or connection. The matter was referred to the committee on public utilities chaired by Councilor Teodulfo E. Lao, Jr., for immediate and appropriate action. (SP/JAOclarit)

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Worst pandemic in history and the coronavirus disease

July 10, 2020

PANDEMIC IN HISTORY WORST THAN COVID-19 SPECIAL FEATURE BY JOEL CALAMBA ESCOL ALL IMAGES CREDIT TO OWNERS   People nowadays panicked when they heard of the death stories of the deadly coronavirus disease now wrecking havoc in many parts of the world - with the United States now being the center of the worst pandemic attacks (3 million infected by the virus in just a few months). However, if we traced back history, there were worst pandemics that hit the world and the death toll is far more higher that the deadly virus of the 21st century.   1. The Black Death (Bubonic Plague) In 1347, according to history pages, the worst plague was known as "the Black Death." It claimed over 200 million lives all over the world in just four years time. During those days, people have no understanding how to contain the virus and their only refuge is to isolate the healthy people from those infected by the deadly virus, or else all members in the family would be contaminated and die. The plague was the cause of the Black Death that swept through Asia, Europe, and Africa in the 14th century and killed over 50 million people in Europe alone. This was about 25% to 60% of the European population In vietnam alone, the sailors have to be locked up and isolated for months and they have called this type of containment "trento." The number of isolation was later increased to 40 days, which was also later known as quarantino. These days, quarantine is actually derived from 'quarantino' - only that the containment is only 14 days. (a little bit of a puzzle why only 14 days)   2. The Great Plague of London In 1348-1665, Europe, most especially London, found itself again in deep trouble with the deadly attacks of another virus known in history as "the great plague in London." Based on records, said plague reappears in every 20 years and it even lasted them from 1348-1665. it has over thirty outbreaks in between of those years. At least 20 percent of the population in London would die everytime the virus attack them every 20 years. In the 1500s, the government of England then passed laws that ordered all sick people in the family to stay home at all costs or met severe punishment. If you would asked to go out, you have to bring a white pole with you. The last outbreak in England happened in 1665 and over 100,000 people have lost their lives due to the deadly attacks of the virus.   3. Smallpox The chickenpox was a type of epidemic that hit continents in Europe, Asia and Arab countries and it went on for centuries, according to history books.  This creepy and eerie type of a virus would kill 3 out of every 10 victims and left survivors with unimaginable scars that's really horrible. The smallpox took scientists centuries before it could finally identify the right vaccine after clinical trials. Luckily in 1980, the virus was finally contained and the World Health Organization declared the world free of smallpox in this particular year.   4. coronavirus disease (covid-19) STAY HOME WEAR MASK AND WASH OUR HANDS. These are very basic protocols now to simply protect ourselves from the deadly coronavirus disease now plaguing the world - with the United States getting most of the virus attacks. According to Johns Hopkins University, the US has a total of over three million people infected by the virus, and the death now reaches over 130,000 people in America alone. Based on reports, the deadly coronavirus disease originated in Wuhan City, China. But until now, scientists around the globe have no final findings where the virus came from. Although there are specualtions it came from snakes and bats but still the real origin of this deadly coronavirus disease is debated by people. The Chinese are fun of eating exotic animals - from bats, snakes, frogs, among other animals found in the jungle. And there's great possibility the virus originally came from exotic animals      The Johns Hopkins University, in its latest tally, reports that United States, a very strong and progressive nation in times of war and economic standing has almost vowed down to the deadly covid-19 - with its standing as the highest in terms of persons and individuals infected by the virus. Right now the country has confirmed over three million people infected and the death toll and infections rises everyday. There are now over 130,000 people who died in America. Yet, the great scientists in this most progressive and mighty nation, still failed to find the cure - a vaccine that would finally contain the spread of the virus all over the world. Let's pray for these great scientists to find the cure or we will all love to live the 'new normal' whether we hated it so much. ###  

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Cagayan de Oro eyes odd-even scheme to solve traffic woes

July 10, 2020

CAGAYAN de Oro City--If plans dont miscarry, the odd-even scheme will soon be implemented in the city apparently to decongest the traffic.   This after Vice Mator Raineir Joaquin V. Uy referred to the City Council committee on public utilities chaired by Councilor Teodulfo E. Lao Jr. for appropriate action the proposal to implement odd-even scheme in Cagayan de Oro. The odd-even scheme is one of the recommendations submitted by the National Confederation of Transport Workers Union to the legislative body to decongest the traffic volume in the city. In a letter, the transport workers union cited that the scheme will give operators and drivers enough time to conduct regular maintenance work for their respective vehicles. The group proposed its implementation from Monday to Friday while Saturday and Sunday will be open or lifted. CABLE NETWORK Likewise to be discussed by the committee is the request for project endorsement on the installation of a submarine fiber optic cable known as the Converge Domestic Submarine Cable Network (CDSCN). The project shall be undertaken by the Converge ICT Solutions, Inc., a grantee of congressional franchise under RA No. 9707 and a holder of a National Telecommunications (NTC) provisional authority to install, operate and maintain a nationwide wired and wireless broadband network in the country. The request is specifically for the issuance of a permit/clearance relative to manhole construction, submarine cable laying, landing and installation, cable trenching, splicing, testing and commissioning in Barangay Bayabas, The Gavel learned.  (SP/JAOclarit)

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