US gives $381,000 grant to modernize Pagasa

US Ambassador Kristie A. Kenney on Wednesday signed a grant agreement providing $381,000 to strengthen the Philippines' early-warning system and natural disaster risk management resources. Secretary Estrella F. Alabastro, of the Department of Science Technology, signed the agreement for the Philippines during a ceremony witnessed by Henry Steingass, US Trade and Development Agency Regional Director for South and Southeast Asia; and Prisco Nilo, director of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa).The grant will support Pagasa's efforts to improve its capacity to monitor potential weather hazards, including typhoons, monsoons, and landslides, and inform the public about them. Pagasa will use the fund for a study to identify upgrades needed for the meteorological and hydrological telecommunications system network. The study will include the implementation and financing plans for the identified technologies, corresponding system specifications, and bidding documents. The contract to conduct the USTDA-funded study for Pagasa will be competed on the US Federal Business Opportunities website at www.fedbizopps.gov. Pagasa will select the US contractor that will complete the study. USTDA funds various forms of technical assistance, early investment analysis, training, orientation visits, and business workshops that support the development of a modern infrastructure and a fair and open trading environment.

Reference: www.inq7.net

Oil prices higher in Asian trade

Agence France-PresseSINGAPORE - World oil prices were higher in Asian trade Thursday after US crude inventories climbed at a slower-than-expected pace last week, dealers said.A dispute that resulted in oil-producing Venezuela cutting supplies to US energy giant ExxonMobil continued to spook the market, they added.In morning trade, New York's main contract, light sweet crude for delivery in March, was up four cents to 93.31 dollars a barrel.The contract closed 49 cents higher at 93.27 dollars during floor trading Wednesday at the New York Mercantile Exchange.Brent North Sea crude for March delivery climbed eight cents to 93.40 dollars a barrel."The increase in US crude stocks came in smaller than expected, so this is supportive of oil futures," said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and Gertz.The US Department of Energy said Wednesday that crude stockpiles rose 1.1 million barrels to 301.1 million in the week ended February 8, smaller than the gain of 2.38 million barrels forecast by analysts.Shum said the market remained concerned over a decision by Venezuela's state petroleum company PDVSA to suspend oil supplies to ExxonMobil in retaliation for the US firm's effort to freeze billions of dollars in global PDVSA assets.The Venezuelan oil concern cited "judicial-economic aggression" by ExxonMobil as the reason for its action, which it described as an act of "reciprocity.""In reality, the number of barrels of crude supplies affected is actually very small. But while market participants understand this, they also realise that Hugo Chavez is a volatile personality," Shum said, referring to the Venezuelan president.

Reference: www.abs-cbnnews.com

Fire destroys 13 houses in Binondo

Thirteen houses were destroyed by a fire that broke out in a commercial-residential area Friday night in Binondo in Manila.
Reports said the fire started around 8:51 p.m. at the 2nd Floor of a house inside a semi commercial and residential compound along Sto. Cristo in Binondo.
The blaze quickly spread to the entire house that was reportedly built in the 1920s from light materials.
Superintendent Pablito Cordeta of the Bureau of Fire Protection said highly combustible materials like sacks and papers were stored on the second floor of the house.
The blaze also destroyed 12 other houses inside the compound because firemen had a hard time entering the narrow roads leading to the compound.
Some of the affected houses reportedly sell mops, rugs, ropes and other native products.
Firemen also used a special chemical called aqueous film forming foam to contain the fire. The fire that reached fifth alarm was finally put out at 10:20 p.m.
No one was reported hurt during the blaze.
Authorities placed the damages at P800,000 while an investigation is still being conducted to determine the origin of the fire .

Reference: www.abs-cbnnews.com