Energy Sector's Earthquake Readiness Enhanced by Filipino Software

Wazzup Pilipinas!

DOE AND DOST MOVE TO SECURE THE ENERGY FACILITIES: The DOE and DOST signed on 16 March 2018 a Memorandum of Agreement (MO A) to enhance the capacity of the energy sector in assessing the risk hazards of an impending earthquake that may have adverse impacts on energy facilities and services as well as people. The MOA entails training on the use of the Filipino-made Rapid Earthquake Damage Assessment System (REDAS) software, which is a tool for preparing and responding to calamities and disasters. Sealing the deal with Energy Secretary Alfonso G. Cusi is DOST Undersecretary Renato U. Solidum Jr. with DOE Senior Undersecretary Jesus Cristino P. Posadas and PHIVOLCS Associate Scientist Dr. Maria Leonila P. Bautista as witnesses.

“Wag na tayong magpatumpik-tumpik pa,” emphasized Department of Energy (DOE) Secretary Alfonso G. Cusi during the signing of an agreement with the Department of Science and Technology (DOST) on Friday (16 March) to use a Filipino-made software to enhance the capacity of all stakeholders in earthquake readiness.

This is a timely response to the magnitude 6.5-earthquake that hit Visayas last year, affecting electricity supply delivery in Leyte, Samar and Bohol. This incident revealed the vulnerability of the country’s energy systems to earthquakes.

Cusi pointed out: “It is the mandate of the DOE to ensure that energy services will be available to everyone immediately after an emergency situation.” This pronouncement supports President Rodrigo Duterte’s directive to ensure disaster resilience.

“We need all available tools and technologies to enhance our resiliency planning and implementation,” Cusi emphasized, citing the threat of a magnitude 7.2-earthquake and other calamities, which pose risks to operations in the energy sector.

The Memorandum of Agreement (M OA)  entitled “Capacity Enhancement of the Energy Sector on Hazard, Risk Assessment and Exposure Database Development Through the Use of the Rapid Earthquake Damage Assessment System (REDAS) Software” was inked on 16 March at the DOE-Media Center in Taguig City by DOE Sec. Cusi and DOST Undersecretary Renato U. Solidum Jr., and witnessed by DOE Undersecretary Jesus Cristino P. Posadas and DOST- Philippine Institute of Volcanology and Seismology (PHIVOLCS) Associate Scientist Dr. Maria Leonila P. Bautista.

For the energy sector’s capacity enhancement, the MOA outlines the development of database on hazard, risk assessment and exposure to earthquake through the use of the DOST-PHIVOLCS’ REDAS software. It can be used as a tool for emergency preparedness, contingency planning and mainstreaming disaster risk reduction.

Under the MOA, the DOE and PHIVOLCS would undertake and pursue intensive REDAS training, endeavor knowledge and resources sharing to complement each other on the implementation of the program, among other assistance and cooperation needed for the attainment of the goals and objectives to prepare the energy sector on possible earthquake hazards.

REDAS will be helpful in providing quick and near-real-time simulated earthquake hazard information to disaster managers which will help them in assessing the distribution and extent of the impacts of a strong earthquake to their people and assets. The data generated could also provide information and insights for better resource management and asset resiliency.

REDAS can be used to compute ground-shaking, earthquake-induced landslides, liquefaction and even tsunamis. Other capabilities of the tool include earthquake sorting capability, generating seismicity maps, onscreen map digitization and building of database on earthquake hazard risks as well as wind hazards.

The partnership of the DOE and DOST-PHIVOLCS is also in line with the recently signed Department Circular No. ‎2018-01- 0001 or the “Adoption of Energy Resiliency in the Planning and Programming of the Energy Sector to Mitigate Potential Impacts of Disasters”, also known as the Energy Resiliency Policy.

The Energy Resiliency Policy was issued as a foundation to make the Philippines an energy-resilient country. The policy also aims to unify the energy sector in mainstreaming disaster risk reduction in its plans, programs and activities.

The policy likewise seeks to institutionalize the strengthening of energy systems and facilities, and to enable the quick restoration and provision of an alternative power source that will alleviate consumer conditions during emergencies and disasters.

“Because of this partnership with PHIVOLCS, more collaborative efforts within the energy sector will result and in the end, it will make the country more competitive,” Cusi concluded.

FinTalks x SLSU: Bold Perspectives to Advance Financial Literacy in the Philippines

Wazzup Pilipinas!

1500 attendees. 10 speakers. 5 series. 1 event. This is FinTalks x SLSU - a series of major seminars organized by fourth year students of BSBA - Financial Management in Southern Luzon State University, Lucban, Quezon in cooperation with SLSU Junior Financial Executives.

#1: Kita Kita: A New Way to See Credit and Collection

The first of the five installments of FinTalks x SLSU was held last March 2, 2016 at SLSU CAM Auditorium. Current College of Business Administration Student Council Governor Ms. Lineth Cruzat served as the motivational speaker. Cruzat in her speech reiterated the importance of believing in oneself. She added, "...naniniwala ako na yung iba sa atin ay nahihiya lang. Yun yung gusto ko na mapag-aralan natin na wag ka matakot mag voice out, wag ka matakot mag share na yung sa palagay mo dapat mong i-share kasi walang mawawala. Makakatulong ka pa..."

Another speaker is Mr. Carlo Magno Sabater who discussed the brief history and the benefits brought by the credit and collection in our economy. He also inspired the attendees to take the risks because the power of change can be found within us. 

#2: Breaking Through Traditions: Harnessing Innovation for Inclusive Finance

The second installment aimed in highlighting the role of Millenials in promoting financial inclusion was held last March 16, 2018 at SLSU Covered Court. The activity was also attended by external participants from selected senior high schools in Quezon province.

One of the speakers is Ms. Joy Anne Pasumbal, who in her early age of 20 was already an entrepreneur and a trader. She discussed the different personal and financial challenges students are facing nowadays and provided tips on how we can overcome those challenges.

Another speaker is Mr. Cesar Augusto Villanueva, who works in the Inclusive Finance Advocacy Office of the Bangko Sentral ng Pilipinas. He said that "financial inclusion is a good policy objective." Villanueva in his speech encouraged the attendees to help the BSP in promoting financial inclusion through the use of technology. He also presented the different financial inclusion initiatives conducted by the BSP that are benefiting the Filipinos today.

Join us.

The other series of FinTalks x SLSU will be held on March 26 and April 13 (wholeday). Join us as we make bold perspectives to advance financial literacy in the Philippines. Because we believe that when you go outside the four side of the classroom, your knowledge about our industry matters. For more information visit our official social media accounts at www.facebook.com/slsujfinex and www.twitter.com/jfinexslsu #FinTalks 

FinTalks x SLSU would like to thank the official Media Partners: astig.PH, Wazzup Pilipinas, Psst.PH, Creativoices Production, Voice of the Youth Online, NegoSentro, World Executive Digest, MoneySense and FranchisingPH.

SLSU JFINEX is a proud member of Junior Confederation of Finance Associations - Philippines and a proud student organization affiliate of CFA Society Philippines. 

Understanding and Treating the Gambling While Visiting UK Cheltenham Festival

Wazzup Pilipinas!

If you are anywhere in the UK during the month of March, you would have definitely heard of the Cheltenham Festival. The Cheltenham Festival is the place to go if you wish to experience the best in-class racing from all over the world. 

The joy of watching fine bred horses with their rippling muscles, being led to the finish line by their jockeys in a nail biting race will give you goosebumps. The other attractions the Shopping Village, the Guinness Village, the Hall of Fame, and the AP McCoy Wall to name a few. However, the core identity of the Cheltenham’s Festival remains racing and of course, betting.

If horse racing is an age-old tradition then so is betting on such races. If you are trying to understand the gambling culture around the Cheltenham Festival, you have come to the right place. Here’s how you can get started:

Check Your Wares

Checking out what you are signing up for is the first rule for anything and everything. While the online methods of betting could sound alluring, nothing beats the actual experience of observing and judging the horses during the parade ring. Notice the coordination between the jockey and the horse. Pick what you feel has the greatest chance of winning and then check out the odds of that horse winning the race. Note down the number of the horse.

Placing Bets

Interestingly, Cheltenham offers many ways to place your bets. However, if you still wish to place your bets online, you can always check out some of the best betting websites for Cheltenham Festival.

Once you have placed your bet, you shall receive a receipt containing the details of your bet. Always check and tally the details, if in case there is a mistake in your receipt, bring it to the bookmakers notice.

Types of Bets

There are two types of bets:

·         Win Only: When you are positively sure that your horse will win, you can place a Win Only bet.

·        Each Way: An Each Way bet is double betting, one bet is on the horse that you think will win, and the other for the placement of the bet. So the money you put at stake is basically paid in double.

After the Race

If you have won, all you need to do is produce your ticket to the bookmaker to claim your settlement. If the result was not in your favor, you should still remember to keep the ticket safe. Do not destroy your ticket until the weighed in announcement has been declared. It may be possible that the winning horse could be disqualified or a Stewards’ Enquiry could be invoked. And who knows, in the process, lady luck may have shined on you!

So, now you have a better understanding of gambling and how to place bets at the Cheltenham Festival. Win or lose, the gambling experience will definitely stick by you forever. Just remember to make a calculated decision and be always aware that betting is good way to earn extra cash, but also can be addictive. So, If you want to be rewarded for your prudence, be sure not to miss full experience of Cheltenham Festival. Good luck!