Economy
LOVE DIVING: DOT launches Philippine Dive Experience in Anilao, Batangas
Highlighting the Philippines’ recognition as the World’s Leading Dive Destination for the sixth consecutive year at the World Travel Awards, Tourism Secretary Christina Garcia Frasco led the dive-focused initiative under the DOT’s Philippine Experience program which brought together high-ranking diplomats including South Korean Ambassador to the Philippines H.E. Lee Sang Hwa, Bangladesh Ambassador H.E F.M Borhan Uddin, Indian Ambassador H.E. Harsh Kumar Jain, Lao-PDR Ambassador H.E. Sonexay Vannaxay, Malaysian Ambassador H.E. Malik Melvin, New Zealand Ambassador H.E. Catherine McIntosh, Sri Lanka Ambassador H.E Chanaka Talpahewa, Thailand Ambassador H.E. Tull Traisorat, Vietnam Ambassador H.E. Lai Binh, as well as diplomatic and consular corps from Cambodia, China, France, Indonesia, and the United States of America.
They were joined by leaders in the dive and tourism sectors, heads of tourism associations, dive operators, and certification agencies at the gathering, which celebrated the Philippines’ unparalleled marine biodiversity and its potential to attract global attention.
In her keynote address, Secretary Frasco underscored the event’s alignment with President Ferdinand Marcos, Jr.’s vision for tourism transformation. “At the heart of the Philippine Dive Experience is our President’s vision of transformation for tourism. We’re not interested in recovering only what was lost, but rather in transcending to the rightful place that the Philippines deserves in the global community of tourism nations. A country that prioritizes the sustainability of its destination and the regeneration of its resources while it seeks to reintroduce itself to the world from the strength of its identity, heritage, and culture.”
Anilao: A Gateway to Global Dive Tourism
Anilao, a world-renowned diving destination, was the launch point for the Philippine Dive Experience tourism circuit. Secretary Frasco highlighted Anilao’s strategic role and its connection to the globally significant Verde Island Passage. “Starting here in Anilao, Batangas, a world-renowned diving destination, we shine a spotlight on the Verde Island Passage. This globally significant corridor is a haven for marine life and a dream destination for underwater photographers.”
Certified divers explored Anilao’s vibrant underwater landscapes, including the LOVE Reef—an artificial reef created through community-driven conservation efforts. Non-divers were introduced to the underwater world through guided scuba experiences, offering an immersive glimpse into the Philippines’ marine treasures.
A coastal cleanup at Anilao Pier emphasized the DOT’s commitment to sustainable tourism. Secretary Frasco remarked. “On the sustainability of dive tourism, we have worked with our partners both from the private sector, our regional offices, and our stakeholders from around the world to continue interest for Philippine diving, as well as to inject education and importance on the conservation of our marine resources.”
Enhancing Dive Tourism Infrastructure and Training
During the event, Secretary Frasco announced key initiatives to boost dive tourism, including the installation of hyperbaric chambers at strategic dive sites to ensure diver safety and meet international standards. She also highlighted the success of the Filipino Brand of Service Excellence (FBSE) program, which has trained over 262,000 tourism professionals nationwide, including more than 10,000 from the CALABARZON region.
These efforts come as the Philippine dive industry continues to thrive, contributing ₱73 billion in revenue in 2023 and playing a crucial role in sustainable economic growth, livelihood creation, and environmental conservation.
“To our esteemed friends from the diplomatic community, our partners, all the delegates and participants, we invite you to become ambassadors for Philippine diving. Together, we will share to the world the beauty of our dive destinations and to ensure the treasures of our seas remain a source of pride and prosperity for generations to come,” Secretary Frasco said, urging attendees to champion the country’s underwater wonders.
Recognition for the Philippine Dive Industry
The DOT celebrated a banner year for Philippine diving, earning the title of World’s Leading Dive Destination for the sixth consecutive year at the World Travel Awards. The country also received accolades such as Best Dive Destination at the TripZilla Excellence Awards and Best Diving Destination at the Diving Resort Travel Show.
Batangas Governor Hermilando Mandanas, represented by Provincial Administrator Wilfredo Celis, welcomed the Philippine Dive Experience delegates. “Batangas is very pleased to be a host to all of you in the next two days. I’m sure you will find your experience as pleasant as possible. And again, we’d like to thank the Department of Tourism for its continued support to the province.”
Mabini Mayor Nilo Villanueva, through Tourism Officer Ian Bueno, expressed gratitude for hosting the inaugural Philippine Dive Experience. “Our community takes pride in our natural treasures, and we are excited to share them with you. This event is not just about exploring the depths of our oceans, but also about fostering international cooperation and promoting sustainable tourism.”
A Sustainable and Immersive Dive Experience
The second day of the Philippine Dive Experience will feature a coastal cleanup at Anilao Pier, with participants—including members of the diplomatic corps and local volunteers—working together to protect marine environments. This will be followed by a cultural immersion via the Taal Heritage Tour, highlighting Batangas’ rich history and artistry, and offering visitors a deeper appreciation of the province’s vibrant cultural identity.
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By Dipo Olowookere
A 1.08 per cent growth was further printed by the Nigerian Exchange (NGX) Limited on Friday on improved appetite for Nigerian stocks.
Data showed that the insurance sector lost 0.61 per cent yesterday due to profit-taking as the energy space gave up 0.08 per cent, while the commodity counter closed flat.
However, the industrial goods landscape appreciated by 2.06 per cent, the banking index improved by 1.31 per cent, and the consumer goods sector expanded by 0.83 per cent.
At the close of business on Customs Street, the All-Share Index (ASI) increased by 1,563.92 points to 147,040.07 points from 145,476.15 points and the market capitalisation went up by N996 billion to N93.722 trillion from N92.726 trillion.
UAC Nigeria led the advancers’ log yesterday after it grew by 10.00 per cent to N96.80, Transcorp Hotels jumped by 9.71 per cent to N172.80, Royal Exchange appreciated by 8.89 per cent to N1.96, Ikeja Hotel soared by 8.74 per cent to N31.10, and Veritas Kapital leapt by 8.07 per cent to N1.74.
On the flip side, Union Dicon declined by 10.00 per cent to N6.30, ABC Transport slipped by 9.88 per cent to N3.10, AXA Mansard depreciated by 7.19 per cent to N12.90, FTN Cocoa lost 4.62 per cent to trade at N4.75, and Guinea Insurance dropped 3.36 per cent to finish at N1.15.
A total of 38 stocks ended on the gainers’ table and 17 stocks finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.
Traders transacted 361.6 million equities for N14.8 billion in 21,051 deals yesterday versus the 1.9 billion equities worth N19.2 billion traded in 23,369 deals a day earlier, showing a decline in the trading volume, value, and number of deals by 80.97 per cent, 22.92 per cent, and 14.20 per cent, respectively.
The busiest stock for the session was Zenith Bank with 59.5 million units worth N3.6 billion, Access Holdings traded 46.1 million units valued at N973.0 million, Fidelity Bank exchanged 29.4 million units for N560.4 million, FCMB transacted 27.9 million units worth N293.9 million, and Tantalizers sold 13.0 million units valued at N29.8 million.
By Adedapo Adesanya
Energy stocks influenced the 4.76 per cent loss recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, December 5.
The culprits were the duo of 11 Plc and Nipco Plc,with the former shedding N32.17 to end at N291.83 per share compared with the previous day’s N324.00 per share, and the latter down by N21.00 to sell at N195.00 per unit versus the previous session’s N216.00 per unit.
Consequently, the NASD Unlisted Security Index (NSI) slumped by 170.16 points to 3,401.37 points from 3,571.53 points and the market capitalisation lost N101.81 billion to close at N2.035 billion from the N2.136 trillion quoted in the preceding session.
The OTC securities exchange suffered the decline yesterday despite the share prices of three companies closing green.
Central Securities Clearing System (CSCS) Plc was up by N1.80 to close at N39.80 per share compared with Thursday’s price of N38.00 per share, Air Liquide Plc appreciated by N1.09 to N11.99 per unit from N10.90 per unit, and FrieslandCampina Wamco Nigeria Plc grew by 78 Kobo to N56.57 per share from N55.79 per share.
During the session, the volume of transactions rose by 6,885.3 per cent to 18.2 million units from 4.3 million units, the value of transactions ballooned by 10,301.7 per cent to N389.7 million from N347.2 million, but the number of deals declined by 29.7 per cent to 26 deals from 37 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the day as the most traded stock by value on a year-to-date basis with 5.8 billion units worth N16.4 billion, followed by Okitipupa Plc with 170.4 million units valued at N8.0 billion, and Air Liquide Plc with 507.5 million units worth N4.2 billion.
InfraCredit Plc also finished the day as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Adedapo Adesanya
The Naira depreciated further against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, December 5, as FX demand pressure mounts.
The Nigerian currency lost N2.60 or 0.18 per cent against the greenback to close at N1,450.43/$1 compared with the previous day’s N1,447.83/$1.
Equally, the domestic currency declined against the Pound Sterling in the official forex market during the session by N4.48 to trade at N1,935.45/£1, in contrast to Thursday’s closing price of N1,930.97/£1 and shrank against the Euro by 43 Kobo to end at N1,689.17/€1 versus the preceding session’s rate of N1,688.74/€1.
Similarly, the local currency performed badly against the US Dollar at the GTBank FX counter by N2 to close at N1,455/$1 versus Thursday’s N1,453/$1 but traded flat at the parallel market at N14.65/$1.
As the country gets into the festive period, pressure mounted on the local currency reflecting higher foreign payments and lower FX inflows.
However, there are expectations that the Nigerian currency will be stable, supported by interventions by to the Central Bank of Nigeria (CBN) in the face of steady dollar Demand and inflows from Detty December festivities that will give the Naira a boost after it depreciated mildly last month.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450/$1 next week, buoyed by improved FX interventions by the apex bank.
As for the crypto market, it was down yesterday due to profit-taking associated with year-end trading. However, the December 1-Year Consumer Inflation Expectation by the University of Michigan fell to 4.1 per cent from 4.5 per cent previously and 4.5 per cent expected. The 5-Year Consumer Inflation Expectation fell to 3.2 per cent from 3.4 per cent previously and 3.4 per cent expected.
With the dearth of official economic data of late, these private surveys have taken on a new level of significance and the market banks of them to make decisions.
Cardano (ADA) depreciated by 5.7 per cent to $0.4142, Dogecoin (DOGE) slid by 5.1 per cent to $0.1394, Ethereum (ETH) dropped by 3.9 per cent to $3,039.75, Solana (SOL) declined by 3.8 per cent to $133.24, and Litecoin (LTC) fell by 3.7 per cent to $80.59.
Further, Bitcoin (BTC) went down by 2.6 per cent to sell at $89,683.72, Binance Coin (BNB) slumped by 2.2 per cent to $883.59, and Ripple (XRP) shrank by 2.1 per cent to $2.04, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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