PPA Reaps Fruits of Increased Traffic Volumes

first_imgzoom The Philippine Ports Authority (PPA) recorded a 15% hike in net income despite the Manila port congestion, which troubled the port for the majority of 2014.Net income after tax reached P 4.26 billion from P 3.70 billion posted in 2013, the latest data from the state-owned agency showed.Gross revenues, on the other hand, posted an increase of 13.5% to P 12.57 billion for the period in review as against the 2013 registered amount of P 11.07 billion.Port revenues posted the biggest increase in 2014 after posting about 25% hike from P 9.99 billion in 2013 to P 12.46 billion.However, the Fund Management Income (FMI), which contributed with another half to the gross revenues of the port, declined significantly to P 103.21 million or about 16% below the 2013 level.“The considerable increases in almost all aspects of the revenue generation process of the agency can be attributed primarily to the increase in traffic volume at the ports despite the congestion issue involving the Manila ports,” PPA General Manager Juan C. Sta. Ana said.“The decrease in FMI, on the other hand, was due to the decline in interest rates on special and high-yield savings deposits and the termination of Bond Sinking Fund held by the Bureau of Treasury from which interest income is also derived,” Sta. Ana explained.The congestion at the port of Manila was declared to be over at the beginning of March with port operations fully normalized. As informed, both the International Container Terminal Services, Inc. (ICTSI) and Asian Terminals Inc. (ATI) show improved efficiency as berthing schedules are being met promptly.last_img read more

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Mens EHF CL Round 8 Minsk took a point of hope

← Previous Story Men’s EHF CL (Round 8): Celje PL and Bosna retained TOP 16 chances Next Story → Men’s EHF CL (Round 8): Draw in Mannheim – Barcelona protest Dinamo Minsk kept good form in away matches with an draw in Spanish Valladolid 27:27 and saved a chances for fantastic possible achievement – TOP 16. Kadetten won very important match against Pick Szeged 31:27. Kolding and Veszprem won easily at home in group “B”.Group BSaturday:Kolding : Sävehof 33:27 (22:11)Veszprem : Tatran Prešov 33:22 (21:10)Sunday:17:00 Hamburg – MontpellierStanding:1. Veszprem* 8-142. Montpellier* 7-103. Kolding* 8-104. Hamburg* 7-95. Sävehof 8-26. Tatran Prešov 8-1 Group CKadetten Schaffhausen : Pick Szeged 31:27 (12:15)Valladolid : Dinamo Minsk 27:27 (10:14)Sunday:16:50 AaB Handball – Čehovski medvediStanding:1. Čehovski medvedi* 7-112. Valladolid* 8-113. Pick Szeged 8-84. Kadetten Schaffhausen 8-75. Dinamo Minsk 8-56. AaB Handbold 7-4 read more

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No evidence that disproportionately high number of migrants receive social welfare

first_imgTHERE IS NO evidence that a disproportionately high number of migrants are in receipt of social welfare payments, a new report has found.Published by the ESRI, ‘Migrant Access to Social Security and Healthcare: Policies and Practice in Ireland’ studied how many migrants are in receipt of payments compared to their representation in the workforce.Compared with a 15.4% share of the labour force, 14.7% of contributory Jobseekers Benefit receipts are non-Irish nationals.Tipping slightly the opposite direction, these migrants make up 17.5% of the means-tested Jobseekers Allowance recipients.“This report provides a new analysis which shows that, despite concerns expressed in several quarters, there is no consistent pattern of overrepresentation of migrants among social welfare recipients in Ireland,” report author Emma Quinn said.However, she noted that interpreting the number who have access to payments can be difficult.The report suggested that the low number (1.9%, compared to a 13.4% share of the population aged 15 and over) of non-nationals in receipt of the state pension but a high number (20.7%) in receipt of Child Benefit could be due to a young age profile of the population.A number of issues regarding the Habitual Residence Condition, a test to see whether the applicant’s ‘centre of interest’ is in Ireland, are highlighted in the report.“Implementation of the policy is challenging, in part because it is still evolving,” Quinn said.Recent improvements in the availability of supporting guidelines and training must be built upon to help ensure that policy aims are consistently achieved.The report also found “EU15-28 are over-represented among both Jobseekers Allowance and Jobseekers Benefit recipients (9.7% and 8.7% respectively), relative to their proportion in the labour force (7.0%)”.“Non-EU nationals are under-represented among recipients of both Jobseeker payments (3.1% of Jobseekers Allowance and 1.6% of Jobseekers Benefit recipients), compared to 4.1% in the labour force.”On a seasonally adjusted basis the number of people on the Live Register dropped by 4,400 in June to 386,200 – down from 36,200 the previous month.This marks the 24th consecutive month of decreases and 36,544 less people signing on since June 2013, when the figure stood at 435,357.In unadjusted terms terms there were 398,813 signing on.Read: Here’s what the social welfare budget paid for last year >More: Almost 3,000 extra young people were signing on last month >last_img read more

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