Business

The Securities and Exchange Commission (SEC) is calling the public to join the fight against investment scams, as it spearheaded the first Investor Protection Week from November 9 to 13.This is to promote investor education amid the rising number of unauthorized investment-taking activities, especially during the COVID-19 pandemic.This year, the SEC has issued advisories against more than 100 groups and individuals soliciting investments without the necessary license, almost double the total number for the whole of 2019.The commission has also issued cease and desist orders and revocation orders against entities engaging in fraudulent investment schemes, including Boss Network, Forsage, and Fast Track Worldwide Inc.The SEC has charged 32 individuals in seven cases for viola...

Capitol photoNegros Occidental Governor Eugenio Jose Lacson and Association of Negros Producers president Arlene Infante led the groundbreaking for the construction of the ANP Micro, Small and Medium-sized Enterprise (MSME) Hub along South Capitol Road in Bacolod City, Wednesday, November 4.Joining them were Provincial Administrator, Rayfrando Diaz, ANP Chairperson Christine Marie Gaston, Paul Lizares of Talarak Foundation, and other ANP officers.The provincial government and ANP entered into an usufruct agreement for ANP to use the property for 25 years.Lacson said that he hopes the hub will serve as a place where the ANP can help SMEs in the province to showcase their products.ANP President Arlene Infante said that the ANP SME Hub will house a showroom, office and Bug...

The Central Negros Electric Cooperative Inc. (CENECO) will suspend its disconnection services until December 31 for unpaid bills with a 160-kilowatt hour (kWh) and below consumption per month.Maria Agnes Claro, officer-in-charge of the Office of the Manager, said that this is in compliance with the October 29 advisory of the Energy Regulatory Commission.“This is twice the ERC-approved lifeline consumption level of 80kwh/month for CENECO consumers. This policy of no disconnection will cover the billing period September 14 until December 31,” she said.A 30-day grace period will also be given on the payment of September bills when Bacolod was under Modified Enhanced Community Quarantine from September 8 to 30, she said, stressing that this is only applicable for member-consumers l...

The Social Security System (SSS) has already credited the first batch of November 2020 pension on October 30 through its new disbursement method using the Philippine Electronic Fund Transfer System and Operations Network (PESONet) and other checkless disbursement channels.SSS President and CEO Aurora Ignacio said that those covered by the first batch of crediting are pensioners whose date of contingency is from the first to the 15th day of the month and are receiving their monthly pensions through PESONet participating banks, e-wallets such as PayMaya, or the Development Bank of the Philippines (DBP) accredited Remittance Transfer Company (RTC)/Cash Payout Outlet (CPO), currently with M Lhuillier.The first batch of November 2020 pension releases covered more than 1.46 million pensi...

DOST-6 photoA limited manufacturing agreement was recently signed for the first Filipino-made diesel engine for farming.The 12-horsepower single-cylinder diesel engine (SCDE) was developed by the Department of Science and Technology–Metals Industry Research and Development Center (DOST-MIRDC), Supercast Foundry and Machinery Corp. in Valenzuela, Metro Manila, and RU Foundry and Machine Shop Corp. owned by Bacolod City businessman Ramon Uy.“Being able to manufacture our very own prime mover diesel engine, we level up our agro-machinery sector and of course, more importantly, boost the productivity and profitability of our farmers and fisherfolks,” Rowen Gelonga, DOST Region 6 director, said during the recent virtual signing.As an agricultural country, the Philippines has bee...

Negros Occidental Electric Cooperative (NOCECO) and Northern Negros Electric Cooperative (NONECO) have increased their power rates in October.Jonas Discaya, general manager of NOCECO, said the new residential rate is P9.4417 per kilowatt hour (kWh) from P8.3121/kWh in September, posting an increase of P1.1296.He said the main driver of the higher electricity rates this month were the P1.1409/kWh increase in the generation charge, the P2.3344/kWh increase in Wholesale Electricity Spot Market, the 0.0102/kWh adjustment in the power supply agreement (PSA) from KEPCO SPC Power Corporation.Also contributing to the overall increase are the adjustments in the system loss rate, subsidy rate, and value-added tax in generation rate, he said.He also noted a reduction of P0.0826/kWh in...

The Central Negros Electric Cooperative Inc. (CENECO) has increased its residential rates by P0.2268 per kilowatt hour (kWh) in October.Maria Agnes Claro, officer-in-charge of the Office of the General Manager, said Monday, October 26, that the power rate for this billing month was at P10.4110/kWh from P10.1842/kWh in September.She attributed the rate hike to the increase in generation, transmission, system loss, and other pass through charges.The pass-through charges equivalent to P9.2244/kWh of the total power rate include the generation and transmission charges, Energy Regulatory Commission-approved adjustments, government subsidies and taxes, she said.Only P1.1866/kWh of the power rate goes to CENECO through distribution, supply, metering charges and the reinvestment fu...

Capitol PIO photoThe provincial government of Negros Occidental turned over 215 breeder piglets to the local government units in the Fifth District on Wednesday.Governor Eugenio Jose Lacson, along with other officials, turned over the livelihood project to livestock breeders and members of the Alliance of Hog Raisers Association of Negros Occidental (AHRANO) at the covered court in Binalbagan town.The activity was attended by Mayors Raymund Tongson Jr. of Himamaylan City, Alejandro Mirasol of Binalbagan, Irene Montilla of Isabela, and Jose Nadie Arceo of Hinigaran, and Vice Mayors Manuel Vera of La Castellana and Adrian Villaflor of Moises Padilla.The program, which is part of the Provincial Animal Genetic Improvement Program under the Provincial Veterinary Office (PVO), in...

DAR photoAt least 26 agrarian reform beneficiaries organizations (ARBOs) in Western Visayas will supply their produce to the Bureau of Jail Management and Penology (BJMP) to reduce the poverty incidence.Shiela Enciso, director of the Department of Agrarian Reform Region 6, and Jail Senior Superintendent Baby Noel Montalvo, director of BJMP-6, recently signed the Enhanced Partnership Against Hunger and Poverty (EPAHP) to address concerns on hunger and poverty.Representatives from the farmer organizations and the BJMP wardens also signed the marketing agreement, which would allow the farmers to directly market their produce such as vegetables, livestock, and poultry to the BJMP.Cabinet Secretary Karlo Alexei Nograles, who was the keynote speaker during the program launching, ...

The provincial government through Governor Eugenio Governor Lacson turned over checks worth P2.4 million to Barangays 2 in San Carlos City, Buenavista in Murcia, 19-A, 13, and 12 in Victorias City, Bulad in Isabela, Daan Banwa in Kabankalan City, and Bacuyangan in Hinobaan.Each of the barangays received P300,000 for projects, such as rehabilitation of barangay health center, construction of drainage system and pathways, acquisition of multi-purpose vehicle, procurement of garbage collector truck, construction of multi-purpose pavement, rubble riprap, solar dryer pavement, and installation of solar power streetlights, respectively.The checks were received by the punong barangays and LGU authorized representatives in a ceremonial turn over held at the Capitol grounds on Tuesday.