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 extended its stay in the south territory with a decline of 0.56 per cent on Wednesday, April 2.
This brought down the market capitalisation by N13 billion to N2.417 trillion from N2.430 trillion, and downed the NASD Unlisted Security Index (NSI) by 22.57 points to 4,062.87 points from the previous session’s 4,062.87 points.
It was observed that the NASD exchange ended with three price gainers and three price losers during the trading day.
MRS Oil Plc depreciated by N19.00 to close at N171.00 per unit compared with the previous price of N190.00 per unit, NASD Plc lost N4.14 to trade at N37.36 per share compared with Wednesday’s N41.50 per share, and Central Securities Clearing System (CSCS) Plc gave up N2.00 to sell at N78.00 per unit versus N80.00 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc appreciated by 19 Kobo to N93.00 per share from N92.81 per share, Food Concepts Plc expanded by 15 Kobo to N2.87 per unit from N2.72 per unit, and Great Nigeria Insurance (GNI) Plc improved by 2 Kobo to 52 Kobo per share from 50 Kobo per share.
Yesterday, the volume of securities dipped by 91.8 per cent to 260.2 million units from 3.2 billion units, the value of securities went down by 98.1 per cent to N154.2 million from N8.3 billion, while the number of deals soared by 53.3 per cent to 46 deals from 30 deals.
GNI Plc was the most active stock by value on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by CSCS Plc with 56.9 million units valued at N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
The most traded stock by volume on a year-to-date basis was also GNI Plc with 3.4 billion units sold for N8.2 billion, trailed by Resourcery Plc with 1.1 billion units exchanged for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
By Adedapo Adesanya
The Naira dropped N2.09 or 0.15 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 2, to trade at N1,380.79/$1 compared with Wednesday’s rate of N1,378.70/$1.
However, it appreciated against the Pound Sterling in the official market by N2.77 to quote at N1,824.86/£1 versus the N1,836.57/£1 it was traded at midweek, and improved its value against the Euro by N10.54 to N1,591.92/€1 from N1,602.46/€1.
Yesterday was the last trading session of the week for the local currency in the spot market, as the market will be closed on Friday and Monday for the Easter Holiday.
At the black market, the Nigerian Naira maintained stability against the greenback yesterday at N1,405/$1, but gained N8 at the GTBank FX counter to settle at N1,388/$1, in contrast to the previous session’s N1,396/$1.
Pressure eased on the domestic currency as strong policy indicators have helped calm the majority of worries within the financial systems. Particularly in the remittance segment, the apex bank has directed all International Money Transfer Operators (IMTOs) to route remittance transactions through designated Naira settlement accounts in banks, a move aimed at boosting transparency and channelling more foreign exchange into the formal market.
This helps take off pressure from the foreign reserves, which have fallen below the $50 billion mark as they are gradually decreasing rather than falling sharply.
Meanwhile, the cryptocurrency market was bullish on Thursday, as macro sentiment shifted against recent optimism after reports that Iran is drafting a protocol with Oman to manage traffic through the Strait of Hormuz, easing concerns about disruptions to a key global oil route.
The remarks came after U.S. President Trump on Wednesday night vowed to hit Iran “extremely hard” in the coming weeks and that the Strait of Hormuz would “open naturally” once the war ends.
Cardano (ADA) chalked up 1.9 per cent to trade at $0.2435, Dogecoin (DOGE) grew by 1.2 per cent to $0.0912, Ethereum (ETH) appreciated by 0.8 per cent to $2,066.37, Bitcoin (BTC) added 0.5 per cent to sell at $67,080.53, Solana (SOL) increased by 0.5 per cent to $79.91, and Ripple (XRP) jumped 0.2 per cent to $1.31.
Conversely, Binance Coin (BNB) dipped 0.7 per cent to $586.90, and TRON (TRX) depreciated by 0.3 per cent to $0.3147, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
By Dipo Olowookere
The local stock market was relatively flat on Friday, as the bears and the bulls shared the spoils of war, though investor sentiment turned bullish compared with the preceding session’s bearish posture.
Data from the Nigerian Exchange (NGX) Limited showed that the All-Share Index (ASI) was marginally down by 4.66 points as it ended at 201,698.89 points versus Wednesday’s 201,703.55 points, and the market capitalisation slightly contracted by N3 billion to N129.806 trillion from N129.809 trillion.
Customs Street was shut on Friday because of the public holidays declared by the federal government today and next Monday.
Business Post reports that John Holt declined by 9.91 per cent to N15.45, Abbey Mortgage Bank shed 9.60 per cent to trade at N8.95, International Energy Insurance slipped by 6.48 per cent to N3.32, Chams shrank by 5.30 per cent to N3.75, and Tantalizers depreciated by 5.18 per cent to N4.03.
On the flip side, Unilever Nigeria improved by 10.00 per cent to N103.40, Fortis Global Insurance gained 9.82 per cent to trade at N1.23, Multiverse appreciated 9.81 per cent to N20.15, Legend Internet advanced by 9.38 per cent to N6.30, and Zichis grew by 9.02 per cent to N14.14.
The market breadth index was positive during the trading session, as there were 35 appreciating stocks and 24 depreciating stocks.
Yesterday, investors traded 560.0 million equities valued at N19.3 billion in 49,676 deals, in contrast to the 815.5 million equities worth N33.3 billion transacted in 52,641 deals in the preceding day, representing a drop in the trading volume, value, and number of deals by 31.33 per cent, 42.04 per cent, and 5.63 per cent, respectively.
Secure Electronic Technology dominated the activity log with 59.7 million shares valued at N61.1 million, Wema Bank exchanged 52.0 million equities worth N1.4 billion, VFD Group transacted 36.0 million stocks for N410.5 million, Access Holdings sold 35.3 million shares valued at N914.8 million, and Chams traded 31.0 million equities worth N115.0 million.
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