Latest news with #P75
GMA Network
12-07-2025
- General
- GMA Network
DMW: 11 rescued Magic Seas crew members to arrive in PH on Saturday night
The remaining 11 of the 17 Filipino crew members of the ill-fated MV Magic Seas, which was attacked by Houthi rebels in the Red Sea, will arrive in the country on Saturday night, according to the Department of Migrant Workers (DMW). At the Saturday News Forum, DMW Undersecretary Bernard Olalia said the 11 arriving crew members will 'complete the 17 rescued Filipino seafarers.' On Friday night, the first six Filipino crews of MV Magic Seas returned to the Philippines. The ship's chief officer, 2nd officer, and 3rd officer arrived at Ninoy Aquino International Airport (NAIA) Terminal 1, while the rest landed at Clark International Airport. Meanwhile, the 11 remaining seafarers will arrive at NAIA, according to Olalia. The DMW official said the arriving seafarers will receive assistance from the government. The first six seafarers who returned to the country received financial assistance worth P75,000 each from DMW's AKSYON Fund and Overseas Workers Welfare Administration's Emergency Repatriation Fund and P10,000 each from the Department of Social Welfare and Development. They were also given hotel accommodation and transportation assistance to ensure their safe return to their families and communities. DMW earlier reported that the Filipino seafarers, along with two other crew members, escaped the Liberian-flagged vessel they were boarding, which was under attack by alleged Houthi rebels last Saturday. Magic Seas was about 51 nautical miles southwest of Hodeidah, Yemen, when it was attacked by men carrying rocket-propelled grenades and automatic firearms. —VAL, GMA Integrated News
GMA Network
11-07-2025
- General
- GMA Network
6 Magic Seas crew members back in PH
Six of the 17 Filipino crew members of the ill-fated MV Magic Seas returned to the Philippines on Friday, the Department of Migrant Workers (DMW) said. The ship's chief officer, 2nd officer, and 3rd officer arrived at Ninoy Aquino International Airport Terminal 1, while the rest landed at Clark International Airport. The seafarers received financial assistance worth P75,000 each from DMW's AKSYON Fund and Overseas Workers Welfare Administration's Emergency Repatriation Fund and P10,000 each from the Department of Social Welfare and Development. They were also given hotel accommodation and transportation assistance to ensure their safe return to their families and communities. DMW earlier reported that the Filipino seafarers, along with two other crew members, escaped the Liberian-flagged vessel they were boarding, which was under attack by alleged Houthi rebels last Saturday. Magic Seas was about 51 nautical miles southwest of Hodeidah, Yemen, when it was attacked by men carrying rocket-propelled grenades and automatic firearms. —VBL, GMA Integrated News
GMA Network
24-06-2025
- Business
- GMA Network
DOE: Fuel subsidy not needed ‘for now' as crude prices drop
"Mind you, because of the lowering of the prices internationally, it might go lower also… baka hindi na kailangan ng ayuda (there might be no need for subsidy)," Garin told Palace reporters. The government's fuel subsidy program for the public transport and agriculture sectors might not be activated after the price of crude oil in the international market went down, Department of Energy officer-in-charge Sharon Garin said on Tuesday. Garin said that as of Tuesday morning, June 24, the average price of crude oil stood at about $69 per barrel after US President Donald Trump announced that a ceasefire between Israel and Iran was already in place. He also asked both sides not to violate it. "Mind you, because of the lowering of the prices internationally, it might go lower also… baka hindi na kailangan ng ayuda (there might be no need for subsidy)," Garin told Palace reporters. Under the 2025 General Appropriations Act, the P2.5 billion budget allocated for the public transport sector's fuel subsidy will be released once the average price of crude oil breaches the $80 per barrel threshold. Garin said Trump's announcement calmed the industry. "There's less speculation, so it went down to $69 as of this morning,' Garin said. She said that 'technically,' the fuel subsidy is not needed at this time since the price of crude oil has yet to breach $80. Still, Garin said the government was ready to 'distribute anytime.' 'All agencies are bracing for impact, even parang wala namang impact pero we're still preparing for it,' Garin said. To ease the burden on motorists, fuel retailers have agreed to implement the big-time hike in petroleum prices in two tranches. Major petroleum firms hiked the prices per liter of gasoline by P1.75, diesel by P2.60, and kerosene by P2.40, effective 6 a.m. on Tuesday, June 24, 2025. The same price hikes will be implemented at 6 a.m. on Thursday, June 26, reflecting the second tranche of adjustments. The Department of Transportation (DOTr), meanwhile, said it was looking to immediately release the fuel subsidy for operators and drivers of public utility vehicles when a sizable oil price hike takes effect in the country. The fuel subsidy will be released through the Land Transportation Franchising and Regulatory Board (LTFRB), with guidelines now being finalized. Apart from the P2.5 billion fuel subsidy for the public transport sector, the 2025 national budget also allocated P150 million in fuel subsidy for the farm and fisheries sectors at P75 million each once the crude oil price breaches the threshold. –NB, GMA Integrated News
GMA Network
11-06-2025
- Business
- GMA Network
Financial institutions given until June 2026 to boost fraud management systems
Financial institutions under the supervision of the Bangko Sentral ng Pilipinas (BSP) have been given until June 2026 to boost their fraud management systems (FMS), and limit their use of interceptable authentication mechanisms such as one-time pins (OTPs) sent via SMS and email. Under the Anti-Financial Account Scamming Act (AFASA), BSP-supervised financial institutions (BSFIs) with complex electronic products and services (EPS) or those with an average of at least P75 million monthly network value for the last six months are required to strengthen their FMS. The implementing rules and regulations (IRR) of AFASA, set to take effect on June 25, 2025, require such BSIs to have their FMS cater to behavioral anomalies, blacklist screening, geolocation monitoring, mobile device and account information changes, in a bid to prevent unauthorized transactions. 'We already have a fraud management system, but we enhanced it, and we all know that it takes time to buy all the new software, so we gave the banks one year,' BSP deputy governor Elmore told reporters in a press chat in Manila City. This is on top of the FMS required of all BSIs with an Advanced Electronic Payment and Financial Services (EPFS) license to have their FMS that is real-time, commensurate to risks, has fraud detection and blocking, comprehensive, and constantly calibrated. 'We are going into additional FMS. The present will not really suffice. Everything is moving very fast so we have this additional. Sometimes a good system is only good until the scammers find a way to go around it,' Capule said. President Ferdinand 'Bongbong' Marcos Jr. signed the AFASA, or Republic Act 1201,0 on July 20, 2024, after being designated as a priority bill by the Legislative Executive Development Advisory Council (LEDAC). The IRR of the law also provides for BSP-supervised financial institutions to limit the use of OTPs sent to users via SMS and email, and adopt more multi-factor authentication (MFA) methods. 'With the increasing prevalence of social and engineering attacks aimed at obtaining login credentials, BSFIs should limit the use of authentication mechanisms that can be shared with, or intercepted by, third parties unrelated to the transaction,' according to BSP Circular 1213. Among the other recommended MFA methods are biometric authentication, which allows customers to use their fingerprint scanning, facial recognition, and voice recognition to authorize transactions, and behavioral biometrics that track patterns such as typing speed, mouse, or device movements. The BSP also allows for passwordless authentication that uses factors like biometrics, hardware tokens, and cryptographic keys, such as Fast Identity Online (FIDO) which allows biological features or a security key to log in to online accounts. The circular also provides for adaptive authentication, which adjusts the authentication process based on the user's context to cover factors such as location, device, and behavior. This will prompt additional verification steps or other actions upon detection of unusual activity. 'We have to realize all of these things are very, very expensive, that's the reality, so we are giving them sufficient time. But at the same time, we realize that if they will not adapt to this, we cannot really solve these scamming, these frauds, so it's a calibrated speech,' Capule said. According to the BSP, it received around 70,000 complaints in 2024, of which 13% were unauthorized transactions including phishing and vishing. There were 703 cases that entered into mediation during the year, with an 83% success rate. For this year, the central bank said cases that have entered mediation from January to May have already hit 400. –NB, GMA Integrated News
Time of India
04-06-2025
- Business
- Time of India
Mazagon Dock shares become more valuable than these 8 Nifty 50 stocks after sharp rally
Mazagon Dock shares rallied up to 3.2%, reaching a market cap of Rs 1.43 lakh crore and surpassing several Nifty 50 stocks. Despite recent profit-booking, bullish technical indicators persist. The company expects 8–10% revenue growth and aims for major submarine contracts that could triple its current order book. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Technicals and stock performance Shares of Mazagon Dock Shipbuilders extended their recent rally on Wednesday, briefly rising as much as 3.2% to Rs 3,548 on the BSE before paring gains, with the stock now more valuable than eight constituents of the benchmark Nifty 50 index. The defence PSU , which has climbed in nine of the last 11 sessions, touched a market capitalisation of Rs 1.43 lakh crore at its intraday that valuation, Mazagon Dock eclipsed blue-chip companies such as IndusInd Bank Tata Consumer Products , Dr. Reddy's Laboratories, and Apollo Hospitals in terms of market capitalization Shares of the shipbuilder had touched a record high of Rs 3,775 on May 29, the day it announced its March quarter earnings. However, the stock fell 10% over the next two sessions after the results came in below its post-earnings call, the management explained that margins during the quarter were affected due to provisioning for two ongoing projects worth a combined Rs 3,500 ahead, the company guided for revenue growth of 8–10% and a Profit Before Tax margin of 15% for FY26. The management also projected that its order book could grow to Rs 1.25 lakh crore from the current Rs 32,260 crore, contingent on the finalisation of two major submarine contracts , the P75 and P75I.'The P75 submarines order, valued at Rs 30,000 crore to Rs 40,000 crore, is likely to be signed as early as next month,' the company had Dock shares have soared 111% in the past year, 46% over six months, 60% in three months, and 14.7% in the last the stock is trading above six of its eight key simple moving averages, including the 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, indicating bullish momentum across Relative Strength Index stands at 57.8, suggesting the stock is neither overbought nor oversold. The MACD is at 187.4 and remains near the center line but below the signal line.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
