Judge says Pistorius to get psychiatrist test

 Economy
May 142014
 
Judge says Pistorius to get psychiatrist test

Oscar Pistorius, left, accompanied by an unidentified relative, walks towards the high court in Pretoria, South Africa, Wednesday, May 14, 2014. The chief prosecutor in the murder trial of Pistorius on Tuesday asked that the double-amputee runner be placed under psychiatric evaluation after an expert witness testified that he had an anxiety disorder. Pistorius is charged with murder for the shooting death of his girlfriend, Reeva Steenkamp, on Valentines Day in 2013. (AP Photo/Themba Hadebe) PRETORIA, South Africa — The judge overseeing the murder trial of Oscar Pistorius on Wednesday ordered the double-amputee athlete to undergo psychiatric tests, meaning that the trial proceedings will be delayed. The decision by Judge Thokozile Masipa followed a request for a psychiatric evaluation by the chief prosecutor, Gerrie Nel. The prosecutor had said he had no option but to ask for it after an expert witness for the defense testified that Pistorius had an anxiety disorder that may have influenced his judgment when he fatally shot his girlfriend, Reeva Steenkamp. Masipa said the court was “ill-equipped” to assess the diagnosis by Dr. Merryll Vorster, and should therefore send Pistorius for a period of evaluation. She said it was important to assess the Olympic runner’s state of mind because of questions raised by the prosecution that Pistorius might argue he was not criminally responsible because of his anxiety disorder. “The accused may not have raised the issue that he was not criminally responsible at the time of the incident in so many words, but evidence Read More …

Vested Interests

 Economy
May 142014
 
Vested Interests

As I discussed last time, money has a price, and this price is called interest. When you borrow money from a bank, a micro-financing institution or an informal money lender, you have to pay interest. However, interest rates and interest computations vary. It is thus important for any borrower to gain an understanding of the mechanics of interest. First of all, interest rates vary. Interest rates (for loans) can go from as low as 4% per year, to as high as 200% or even more, if you borrow from loan sharks. For instance, some informal money lenders lend a person Php10,000 on Sunday, and collect Php2,000 every day after from Monday until Saturday. The loan is then renewed the following Sunday. The minimum implied interest rate of this arrangement is 20% per week. Interest rates vary depending on the nature of the loan, the length of time involved to repay the loan, the risk involved, the amount, the co-maker, the policy of the institution or person, and if any collateral is involved. It is often best to clearly delineate between needs and wants, and avoid spending beyond your means to minimize the chances of unwanted debt. Moreover, financial planning is needed to allow you to be able to apply for cheaper loans from expected expenses, such as tuition payments. In corporate finance, interest is computed based on an interest or coupon rate (in the case of bonds) and is paid at agreed-upon dates, usually on a quarterly or semiannual basis. Read More …

Peso improves midday Wednesday

 Economy
May 132014
 
Peso improves midday Wednesday

MANILA, Philippines – The peso strengthened against the dollar midday Wednesday, settling at 43.68 from the previous day’s 43.815. Total volume transacted at the Philippine Dealing System amounted to $499.7 million in the morning, higher than the $493.4 million posted the same period on Tuesday. The peso opened Wednesday at 43.75.

Kia PH launches search for Mascot Friend for 2014 FIFA World Cup, confirms talks with Pacman for PBA

 Economy
May 132014
 
Kia PH launches search for Mascot Friend for 2014 FIFA World Cup, confirms talks with Pacman for PBA

MANILA, Philippines – Every four years, the world stands witness to football’s grandest event—the FIFA World Cup. Senior men’s national teams from the 208 member associations of FIFA compete in what is said to be the biggest single-event sporting competition in the world. Following major partnerships with tennis’ Australian Open and basketball’s NBA, Kia Motors Corporation is now an Official Partner of the 2014 FIFA World Cup Brazil. Columbian Autocar Corporation (CAC), exclusive distributor of Kia Motors in the Philippines, also followed suit and launched Kia Mascot Friend as part of its many activities to celebrate World Cup. Other than the thrilling matches, fans, both young and old, also await and enjoy the unique World Cup mascots representing the host country and the spirit of football. This year, Fuleco, a three-banded armadillo native to Brazil, is the 2014 FIFA World Cup Official Mascot. Lucky for Fuleco’s young Filipino fans, CAC will give a chance for one kiddie participant of Kia Mascot Friend to go to Recife, Brazil and join Fuleco for an in-game, halftime show! Young booters aged 12 years old and below can join the Kia Mascot Friend tournament on May 17 at the Alabang Country Club where a panel of judges will be present to assess the kids’ football aptitude, personality, and ability to articulate himself well. From the tournament pool, eight kids will be selected for a final interview to be conducted by the judges where eventually, one final participant will be chosen. Aside from a match Read More …

The real deal (Last of Three Parts)

 Economy
May 132014
 
The real deal (Last of Three Parts)

According to (Delfin) Lee and his lawyers, contrary to what Pag-IBIG has been saying, GA nor Lee never absconded with P6.5 billion in HDMF money. It was money paid indirectly by HDMF to GA by way of housing loans to homebuyers in Xevera 2. They added that there is not a single demand letter from HDMF to GA for that amount, nor a civil case for collection. It is the property buyers, not GA, who are indebted to HDMF. They also claim that there was no special treatment given to GA. In fact, under their agreement, compared to the usual two years required from other developers, GA was required to buy back from HDMF the buyer’s contract to sell on a much longer period of coverage of five years. This means that in case of the buyer’s failure to pay their amortization, Globe Asiatique is obligated to either pay or update the account of the delinquent borrower or replace the latter with another buyer. As to claims that there was double sale, GA clarified that under the GA-HDMF agreement, the contracts to sell of buyers who defaulted for three months would be cancelled, and their units offered to replacement buyers. Given some defaults, GA opted to look for new buyers for these units. These units include those held by the 28 buyers who complained that they were duped into buying units that were already sold to others. Titles to these units could not be released to the new buyers since Read More …

Index rises as market cheers Wall St gains

 Economy
May 132014
 
Index rises as market cheers Wall St gains

MANILA, Philippines – Wall St.’s trek to a fresh record high encouraged investors to accumulate local stocks yesterday. The Philippine Stock Exchange index recovered 0.61 percent or 41.47 points to close at 6,852.81, while the broader all shares index rose 0.74 percent or 30.35 points to 4,135.98. “Investors cheered an overnight advance in the US equities pushing the index to its highest level in a year – with the intra-day high falling a few points short of the June 10, 2013 close at 6,875.60,” said Justino B. Calaycay Jr., an analyst at Accord Capital Equities Corp. “The emotional pendulum swung back to positive after the Dow hit a fresh record reflecting a resurgence of confidence on the world’s largest economy,” Calaycay said. On Monday, Wall Street posted gains due to higher share prices of Internet and biotech companies. The Dow Jones industrial average added 0.68 percent or 112.13 points to 16,695.47, while the broader Standard & Poor’s 500 index gained 0.97 percent or 18.17 points to end at 1,896.65, allowing both indices to close at record highs. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The market optimism rubbed off on Asian stocks, which ignored escalating tensions in Ukraine. At home, all counters, save for financial firms that dropped 0.26 percent or 4.18 points to 1,613.53, were in the green. The advancers were led by mining and oil that rose 1.56 percent or 256.08 points to 16,659.40. Investor participation increased as value turnover reached P9.7 billion from P8.02 billion Read More …

Toyota posts another 8k sales mark in April

 Economy
May 132014
 
Toyota posts another 8k sales mark in April

MANILA, Philippines – Coming from a sales milestone just last March, the number one automotive company in the country continues to break the 8,000 unit mark for the second consecutive month. According to the most recent CAMPI report, Toyota Motor Philippines (TMP) posted a share of 45 percent with total sales of 8,102 units in April. The strong sales of Toyota last month was again possible through the continuous high demand for the bestselling vehicle in the country, the Vios, with sales of 1,982 units. Moreover, this performance was further strengthened by other top-selling Toyota models that are number 1 in their respective segments. The mini hatchback Wigo recorded 634 units while the Fortuner and the locally manufactured Innova registered 1,473 units and 1,200 units, respectively. Other Toyota models such as the Corolla Altis, the Hilux, and the HiAce were also number 1 in their own categories. In a statement, TMP president Michinobu Sugata expressed: “Reaching another 8,000 sales level in a single month is indeed a breakthrough for Toyota Motor Philippines. On behalf of TMP, we would like to express our deepest appreciation to our customers for their continued trust in all our products. Moreover, looking at how things are going, we expect this favorable trend to continue because of the positive economic outlook and demand for our new models such as the Yaris, Wigo, Innova, and the Corolla Altis.” On a year to date basis, Toyota Motor Philippines continues to stretch its lead in sales. In the passenger Read More …

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