Mayon alert level raised as volcano shows signs of unrest | ABS-CBN

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Mayon alert level raised as volcano shows signs of unrest

Mayon alert level raised as volcano shows signs of unrest

ABS-CBN News

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MANILA - Mayon volcano’s Alert level has been raised amid signs of unrest, the Philippine Institute of Volcanology and Seismology said on Sunday.

Phivolcs said Mayon has been placed on Alert Level 1 or low-level unrest, from Alert Level 0 or normal.

“The public is reminded that entry into the 6-km Permanent Danger Zone or PDZ must be strictly avoided due to an increase in the chances of sudden steam-driven or phreatic eruption, as well as the perennial hazards of rockfalls, avalanches and ash bursts at the summit area, that may occur without warning,” Phivolcs said.

The seismology agency also advised people living in valleys and active river channels near the volcano to stay vigilant for sediment-laden streamflows and lahars in the event of heavy rainfall.

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Mayon is the most active of the Philippines’ volcanoes and last erupted in 2018.

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Palace expects boost in PH investments after removal from dirty money ‘gray list’

Palace expects boost in PH investments after removal from dirty money ‘gray list’

Katrina Domingo,

ABS-CBN News

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Malacañang expects an increase in foreign direct investments after the Philippines was removed from the Financial Action Task Force’s (FATF) grey list earlier this week. 

The Philippines was removed from the list of nations flagged for weak anti-money laundering safeguards after the FATF acknowledged that the country was able to “meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in June 2021.”

“Our well-earned exit from the Financial Action Task Force’s (FATF) grey list boosts our drive to attract job-creating, growth-inducing foreign direct investments,” Executive Secretary Lucas Bersamin said in a statement.

“This seal of good financial housekeeping benefits overseas Filipinos as it would make cross-border transactions faster and cheaper as layers of compliance barriers are removed,” he said.

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Bersamin credited the country’s exit from the grey list to the “multiple moves made” the administration pushed to “finally dismantle structures that could be exploited by money launderers and terrorism financiers.”

“For so long, our investment attractiveness has been dragged down by this dirty money haven label,” the Executive Secretary said.

“This hard-fought administration win in its battle against money laundering will be preserved and protected through consistent compliance with global standards.”

The Anti-Money Laundering Council (AMLC) earlier said that “the exit will reduce international fund transfer requirements, benefitting Filipino individuals and businesses.”

Bangko Sentral ng Pilipinas (BSP) Governor and AMLC Chairman Eli Remolona, Jr. called the feat a result of “strong cooperation” between the government and the private sector.

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