PH calls for completion of NCQG before 2025

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PH calls for completion of NCQG before 2025  PH BOP posts $3.5B surplus in September;   Minimum wage hike in Ilocos Region OK’d;   Oil price rollback set Oct. 22  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 8:00 am Bagong Pilipinas Ngayon - 12:00 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:00 pm - 7:00 pm PTV News Tonight -  9:30 pm - 10:30 pm  Saturday & Sunday: ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

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00:00Rollback and pump prices of petroleum products takes effect tomorrow.

00:04Meanwhile, minimum wage hike in Ilocos region has been approved.

00:08These and more stories in tonight's business news wrap-up by Kate Rania.

00:14The Philippines is urging the quick completion of the new collective quantified goal on climate

00:19finance or NCQG before 2025. Undersecretary Mariella Valhati, Dorotan Chiseco emphasized

00:25the need for financial support tailored to the needs of these countries, calling for easier

00:30access to funding and a focus on public finance including grants. The NCQG aims to help

00:36developing countries meet their climate goals while ensuring transparency in providing funding.

00:43In September 2024, the balance of payments had a US$3.5 billion surplus up from a US$414 million

00:51deficit in September 2023. The surplus in year-to-date is US$5.1 billion, improving from

00:58last year driven by a smaller trade deficit and strong inflows from remittances. Gross international

01:04reserves rose to US$112.7 billion, enough to cover 8.1 months of imports and four and a half

01:13times the short-term external debt. Starting November 7, 2024, the daily minimum wage will

01:20increase by 33 pesos to 468 for larger non-agricultural businesses and 435 pesos for

01:27smaller ones in the agricultural sector. Domestic workers' monthly wage will rise 500 pesos more

01:34and up to 6,000 pesos. These changes affect about 170,143 minimum wage earners directly,

01:42with potential benefits for over 349,000 others. Oil prices are falling in the third week of

01:50October, with changes effective October 22. Gasoline has 50 centavos per liter slash 85

01:56centavos per liter less for kerosene, while the price diesel is 70 centavos cheaper per liter

02:02from the past seven days. The Department of Energy noted that easing tensions in Middle East

02:08have likely contributed to this drop. Kate Renya, from The National TV,

02:12for a new and better Philippines.

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