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Today in history:Sixty years ago today, the Macardi Stock Exchange was established and merged with the Manila Stock Exchange in 2018 to become the current Philippine Stock Exchange.

politics

01Laos Launches National Inclusive Development Planning and Financing Project

The Ministry of Planning and Investment of Laos and the United Nations Development Programme (UNDP), with financial support from the United States Agency for International Development (USAID), launched the National Inclusive Development Planning and Financing (NPFID) project in Vientiane on May 19th.

The project will strive to build the capacity of core planning agencies and functional departments, making them more results-oriented, and guiding more effective and inclusive participation and partnerships in accordance with the financing strategies of the Vientiane Declaration National Action Plan (VDCAP) and the Ninth National Socio Economic Development Plan. The project will also involve targeted measures to improve monitoring mechanisms for different aspects of financing and planning.

At the launch ceremony, Ms. Phonevanh Outhavong, Deputy Minister of Planning and Investment, stated that the national inclusive development planning and financing projects were built on the support provided previously to promote national development priorities, sustainable development goals, and graduation from least developed country status. The Ministry of Planning and Investment, relevant ministries, and development partners recognize the importance of these interventions in the past. This project will support an extension until 2025, building on these strategic areas and placing greater emphasis on strengthening the balance between national planning and financing.

02Budget and Management Department approves the distribution of 25.16 billion pesos to Philippine Health Insurance Company

The Department of Budget and Management (DBM) has approved the distribution of 25.16 billion pesos to the Philippine Health Insurance Company (PhilHealth) to cover the annual health insurance premiums of over 8 million impoverished Filipinos. The funds will be obtained from authorized appropriations under the General Appropriations Act of 2023 (GAA) in accordance with the Republic Act (RA) 11936. Because the COVID-19 pandemic has made the government realize the importance of providing medical services to citizens, especially the poor. President Ferdinand Marcos Jr. authorized the Department of Budget and Management to ensure affordable healthcare for Filipinos.

The Ministry of Budget and Management classifies impoverished individuals as those who do not have a clear source of income or whose income is insufficient to support their families, as determined by the Ministry of Social Welfare and Development based on specific criteria. The poverty line in the Philippines is defined as a family of five with a monthly income of 10727 pesos (approximately 1355 yuan). As of 2018, 16.7% of the population in the Philippines, or approximately 17.6 million people, lived below the poverty line.

economic

01The number of digital platform payments in Cambodia's banking system will increase by 34% in 2022

According to the latest annual banking regulatory report released by the National Bank of Cambodia (NBC), in 2022, the payment volume of digital platforms in Cambodia's banking system increased by 34% compared to last year, reaching $272.8 billion, with a transaction volume of 1 billion, equivalent to more than nine times the country's gross domestic product (GDP).

The report points out that digital payments have been made through services provided by 35 payment institutions and two banks and financial institutions with licenses and permits issued by monetary authorities and central banks, respectively. As of 2022, the number of banks and financial service consumers in Cambodia who have registered and created electronic wallet accounts has increased to 19.5 million, including accounts that have undergone digital payment transactions, Banks and financial institutions issued 12.3 million payment cards for Internet and mobile banking.

02Vietnam Power Group is preparing to purchase electricity from China and Laos

Tran Dinh Nhan, General Manager of Vietnam Electric Power Group (EVN), stated that the group is in talks to purchase electricity from China through the 110kV Shengou Mangjie Line in May, June, and July, and is about to complete the signing process of the electricity purchase agreement. The group also imports electricity from Laos through the Nam Kong and Nam San hydroelectric power plant clusters.

Nhan pointed out that Vietnam does not have more backup capacity for the entire system's power supply. Large power sources such as hydropower and thermal power have been reduced. Vietnam Power Group has implemented many solutions, such as partnering with Vietnam National Coal and Mineral Corporation, Dong Bac Corporation, and Vietnam Oil and Gas Group to supply coal, natural gas, and oil to power plants. At the same time, negotiations have been held with investors qualified to generate electricity from wind and solar projects in the State Grid, coordinating with local authorities to improve the economy and efficiency of electricity.

However, as of May 21st, EVN only integrated 85 MW of Trung Nam Thuan Nam solar power into the national grid, while other investors had to finalize relevant laws and regulations.

According to Vietnamese media reports, Vietnam began implementing rotating power outages nationwide in May 2023, with some areas experiencing power outages lasting for up to 7 hours, forcing some factories to stop production. The power shortage in Vietnam is mainly due to the severe heat wave leading to an increase in electricity consumption, coupled with the continuous drought leading to a decrease in water levels at hydropower stations, which will continue until the end of this month.

In the past few weeks, many regions in Asia have been hit by high temperatures. The World Meteorological Organization has reported that the El Ni ñ o phenomenon, which will lead to global warming in the coming months, will make a comeback, and the "hottest summer in history" is approaching.

security

01Malaysian Maritime Law Enforcement Agency officials may be missing while hiking

Recently, an official from the Malaysian Maritime Law Enforcement Agency may have disappeared while hiking at the Seven Sin Well Falls in Langkawi.

The Langkawi Police Department reported that the official works in the Search and Relief (SAR) department of the Maritime Authority in Putrajaya, Malaysia, and participated in the 2023 Langkawi International Maritime and Aerospace Exhibition (LIMA'23) in Langkawi. The investigation found that the motorcycle used by the official is still in the parking lot of Qixianji Falls.

The previous search and rescue work is underway, with the fire department, Malaysian Maritime and Malaysian Civil Defense Forces (APM) all deployed. This search and rescue also involved 15 civilians familiar with mountain routes.

The 2023 Lancaway International Maritime and Air Show will be held from May 23rd to 28th in the Lancaway Islands. Qixian Well is a famous tourist attraction. It is located in the Northwest Angle of Langkawi Island. It is a waterfall cut into seven sections by the mountain. It is about 80 meters from top to bottom. Due to the perennial impact of water and stone, it is slippery and steep. In addition to the recent light rain, climbing should be careful.

02VMC, the largest refined sugar producer in the Philippines, experienced a tank explosion

In early May, due to an increase in heat, a storage tank of VMC Company, the largest refined sugar producer in the Philippines, exploded. The tank had a capacity of 6 million liters or 10000 metric tons at full capacity, and a large amount of molasses leaked, affecting approximately 200 households in the Malihaw River and at least three villages, causing a large area of foul odor, including the village of Poplacion.

Recently, Javier Miguel Benitez, the mayor of Victoria City, West Negro Province, Philippines, has held an emergency meeting to announce an investigation into the molasses spill. The Victoria City Department of Urban Environment and Natural Resources has requested VMC's technical, legal, and management teams to find ways to solve the molasses spill and eliminate the odor.

The VMC management team assured the city government that they will provide 25 kilograms of rice every two weeks to severely affected households, and promised to clean the river and use enzyme preparations to treat it, ensuring that the decomposition of molasses will not affect people.

culture

01Battambang Province of Cambodia has become a candidate member of the "Intangible Cultural Heritage List"

Battambang Province, Cambodia has been qualified to become a candidate member of the "Innovative Cities Network" under the food category of the UNESCO "Intangible Cultural Heritage List". The information came from the UCCN member paper seminar organized by the Ministry of Culture and Arts, the Ministry of Tourism, the United Nations Educational, Scientific and Cultural Organization in Phnom Penh and the Battambang Provincial Government on May 23.

The UNESCO Creative Cities Network (UCCN) was established in 2004 to promote cooperation among cities that consider creativity as a strategic factor for sustainable development. At present, the network consists of 246 cities participating in the same mission: to make the creative and cultural industries the core of regional development strategies, and actively engage in international cooperation.

Battambang Province is a province in the northwest of Cambodia, bordering Thailand. It is the province with the largest population in northern Cambodia and the second largest city in Cambodia. Battambang Province is famous for its fertile soil, rich in rice and fruit, and is known as "the granary of Cambodia". Battambang has been recognized in three aspects: the cultivation of famous artists, the long history of French colonial architecture, and unique local cuisine.

weather

Manila, Philippines has been experiencing hot weather with occasional showers, with temperatures ranging from 27 to 32 degrees Celsius. Friends traveling to the Philippines are advised to pay attention to sun protection and carry rain gear.