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.
Hashtag: #DOT
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.80 per cent gain on Friday, December 27, helped by two price gainers, FrieslandCampina Wamco Nigeria Plc and Geo-Fluids Plc.
FrieslandCampina Wamco Nigeria Plc improved its value by N3.84 to trade at N43.84 per unit compared with the preceding trading session’s N40.00 per unit and Geo-Fluids Plc gained 24 Kobo to close at N4.85 per share, in contrast to Tuesday’s closing price of N4.61 per share.
However, the share price of Industrial and General Insurance (IGI) Plc shrank during the last trading day of the week by 2 Kobo to 15 Kobo per unit from 17 Kobo per unit.
At the close of transactions, the market capitalisation increased by N8.24 billion to wrap the session at N1.040 trillion versus the preceding trading day’s N1.032 trillion and the NASD Unlisted Security Index (NSI) expanded by 24.02 points to 3,035.61 points from the 3,011.59 points recorded in the previous session.
The volume of securities traded in the first session after the Christmas break surged by 41.8 per cent to 7.5 million units from the 5.3 million units recorded in the preceding session, the value of shares traded yesterday increased by 117.4 per cent to N51.7 million from N23.8 million, and the number of deals went up by 200 per cent to 32 deals from the eight deals carried out on Tuesday.
When the alternative stock market ended for the session, Geo-Fluids Plc maintained its position as the most active equity by volume on a year-to-date basis with 1.7 billion units sold for N4.0 billion, followed by Okitipupa Plc with 752.4 million units valued at N7.8 billion, and Afriland Properties Plc with 297.7 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, trailed by Okitipupa Plc with 752.4 million units valued at N7.8 billion, and Afriland Properties Plc with 297.7 million units sold for N5.3 billion.
By Dipo Olowookere
The first trading session after the 2024 Christmas break on the floor of the Nigerian Exchange (NGX) Limited ended on a negative note on Friday.
The local stock exchange closed lower by 0.05 per cent during the trading session as the market participants embarked on profit-taking.
The sell-offs were prominent in the banking and energy sectors, crumbling by 1.16 per cent and 0.21 per cent, respectively.
However, the insurance index maintained its upward movement with a 2.31 per cent growth, as the consumer goods and industrial goods counters gained 0.15 per cent and 0.01 per cent apiece.
At the close of business, the All-Share Index (ASI) went down by 52.73 points to 102,133.30 points from 102,186.03 points and the market capitalisation declined by N32 billion to N61.912 trillion from N61.944 trillion.
Despite the loss suffered by the bourse, investor sentiment was bullish after 45 equities ended on the gainers’ chart and 18 equities finished on the losers’ table, indicating a positive market breadth index.
Honeywell Flour shed 9.09 per cent to trade at N6.30, RT Briscoe waned by 5.66 per cent to N2.50, Neimeth slowed by 5.47 per cent to N1.90, Eterna gave up 5.00 per cent to settle at N28.50, and Tantalizers soured by 4.44 per cent to N1.72.
Conversely, University Press expanded by 10.00 per cent to N3.85, Coronation Insurance grew by 10.00 per cent to N1.87, Universal Insurance rose by 10.00 per cent to 55 Kobo, Ikeja Hotel jumped by 9.95 per cent to N12.15, and May and Baker inflated by 9.94 per cent to N9.40.
The busiest stock yesterday was UBA with 41.7 million units valued at N1.5 billion, Access Holdings traded 35.4 million units worth N871.3 million, Zenith Bank exchanged 33.3 million units valued at N1.5 billion, GTCO transacted 22.9 million units worth N1.3 billion and Jaiz Bank sold 19.2 million units for N57.2 million.
When trading activities ended for the session, the value of shares went down by 4.37 per cent to N17.5 billion from N18.3 billion, the volume of transactions increased by 4.61 per cent to 451.7 million shares from 431.8 million shares, and the number of deals surged by 49.97 per cent to 12,551 deals from 8,369 deals.
By Adedapo Adesanya
The value of the Naira appreciated against the US Dollar by 0.16 per cent or N2.15 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 27 as festive activities wound down in the country.
During the last trading session of the Christmas week, the domestic currency was exchanged at N1,538.50/$1 in the official window, in contrast to the preceding session’s N1,540.65/$1.
The official market closed on Wednesday (December 25) and Thursday (December 26) for the holidays but resumed yesterday, with two more trading sessions left in the year.
December activities are winding down and the influx of FX from foreigners in the country will start reducing, with more demand for the Dollar set to occur in the coming days.
At the spot market on Friday, the local currency depreciated against the British Pound Sterling by N1.31 to wrap the session at N1,934.22/£1 compared with Tuesday’s closing price of N1,932.91/£1 and against the Euro, it lost N5.51 to sell for N1,605.47/€1, in contrast to the previous session’s N1,599.96/€1.
A look at the parallel market showed that the Nigerian Naira maintained stability against the greenback yesterday at N1,640/$1.
The Naira for most of December trended upward since the Central Bank of Nigeria (CBN)-backed Electronic Foreign Exchange Matching System (EFEMS) launched on December 2.
The platform which set new guidelines for authorised Foreign Exchange (FX) dealers made it harder to sell at inflated rates to avoid CBN’s punishment.
Last week, to further alleviate pressure on the official market, the apex bank granted Bureaux de Change (BDC) operators temporary access to NAFEM, which is the official market, as part of efforts to further strengthen the Naira in the currency market.
In the cryptocurrency market, there was a mixed outcome as the landscape cooled ahead of next year’s promises, including a more relaxed crypto environment in the US.
Litecoin (LTC) declined by 3.4 per cent to $99.59, Solana (SOL) shed 1.4 per cent to sell at $185.53, Bitcoin (BTC) slid by 1.00 per cent to $94,327.94, Ethereum (ETH) slumped by 0.4 per cent to $3,337.53, the US Dollar Tether (USDT) fell by 0.06 per cent to $0.9983, and the US Dollar Coin (USDC) lost 0.01 per cent to settle at $0.9998.
On the flip side, Dogecoin (DOGE) rose by 0.9 per cent to $0.3159, Ripple (XRP) gained 0.2 per cent to quote at $2.16, Cardano (ADA) also improved by 0.2 per cent to $0.8076 and Binance Coin (BNB) went up by 0.06 per cent to $696.24.
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