May 292014
 
US economy shrank at 1% pace in 1st quarter

In this June 3, 2009 file photo, Baldor Electric Co. employees Dave Johnston, left, and Steve Davis, right, work inside the company’s factory in St. Louis. The US economy shrank for the first time in three years in the first quarter, underscoring its struggle to gain momentum nearly five years after exiting recession, data showed Thursday. AP PHOTO/JEFF ROBERSON WASHINGTON—The US economy shrank for the first time in three years in the first quarter, underscoring its struggle to gain momentum nearly five years after exiting recession, data showed Thursday. Economic output as measured by gross domestic product (GDP) fell at an annual rate of 1.0 percent in the first quarter, the Commerce Department said, sharply revising lower the initial estimate of 0.1 percent growth. The Commerce Department’s revision was much worse than analysts expected; the consensus estimate was a 0.5 percent decline. It was the second time the world’s largest economy has contracted since officially exiting severe recession in July 2009. GDP fell 1.3 percent in the 2011 first quarter. “Negative GDP growth is rare in expansions, declines of more than a couple of tenths rarer still and two declines of one percent in one expansion unheard of until now,” said Chris Low of FTN Financial. “It’s a reminder that the growth trajectory is flatter than normal, a consequence of an ongoing credit squeeze that has dragged on so long it is easy to forget how unique it is compared to past decades.” The start of the year was marked Read More …

May 292014
 
What Maricel loves, hates about her Real role

MANILA, Philippines – The idea of portraying an understanding, faithful and caring wife, despite knowing her husband’s infidel ways in the GMA 7’s latest primetime drama Ang Dalawang Mrs. Real, makes Maricel Soriano want to “freak out.” She could hardly hide her “strong feelings” for the kind of persona she is about to portray. Maricel is pertaining to her role as Millet Gonzales-Real, a successful woman who is willing to do everything for her family, especially for her husband Anthony Real (played by Dingdong Dantes). But never did she expect that she will one day discover that there is another Mrs. Anthony Real in the person of Shiela Salazar-Real (Lovi Poe). The actress relates that while reading the script, her heart started to beat faster in anger towards Millet. “I told them (the production staff), ‘Huh? Could this really be possible? Millet’s undying love is surreal, nanggigigil ako sa kanya.” And until the day the cameras started to roll, Maricel was still trying to convince herself that she is able to plunge into the character easily “because I cannot take her personality. Millet has this unconditional kind of love no matter how painful it is for her to be cheated by her man. Naloka ako, may tao bang ganito?” Maricel even jokes that she needs to sit down face to face with Millet to make her realize her foolishness. But given her personal feelings, Maricel does not ask the writer if a moment of redemption will occur in the end. Read More …

May 292014
 
Jasmine Curtis-Smith talks about her sister, rumored boyfriend

JASMINE Curtis-Smith claims that relations are fine between her older sister, Anne Curtis, and rumored boyfriend Sam Concepcion. Last month, it was reported that Anne and Sam had a minor argument during the birthday party of comedian Vice Ganda in Makati City. Anne allegedly called Sam “not classy enough” to be at the said party and even made fun of his car. Anne denied the incident but Sam confirmed the “slight confrontation”, which he said had been ironed out immediately. In an interview with Jasmine at the grand press launch of her self-titled series produced and created by TV5, the actress shared that open communication played a big part in settling the differences between parties. The 20-year-old actress said that she did talk to Sam and Anne about the reported incident and the two were open to her. Both parties have told their stories and eventually things turned out okay, she said. “I was very calm about the situation. I’m usually the type of person who usually panics the first red signal. Thankfully, I have both of them to relax my nerves and kausapin ako agad para hindi ako matranta agad or mag-isip ng kung ano-ano,” she said. “I was assured that it will come to a good end. Naiintindihan nilang pareho na nasa gitna ako. Kahit na sabihin nating hindi ako involved sa kung ano mang nangyari, kahit papaano it passes through me. They were both very understanding of that and they relay their own messsages para hindi ako Read More …

May 292014
 
More ‘pork’ records among Benhur's deleted files

NBI releases Benhur Luy’s list. A Senate reporter on Thursday, May 29, holds a copy of the disc containing the files of principal pork barrel scam whistleblower Benhur Luy. The NBI said it recovered the files from Luy’s computer. Roy Lozano More documents covering pork barrel transactions were included in deleted files of principal scam whistleblower Benhur Luy, according to a list of these computer files submitted to the Senate. Over 50 deleted files — including project proposals, endorsement letters and disbursement records — mentioned the name of Senate Minority Leader Juan Ponce Enrile. Senators Ramon Bong Revilla Jr. and Jinggoy Estrada were also mentioned in Luy’s deleted files. Code names believed to refer to senators such as “Dahon,” “Bigote,” “Sexy,” “Bonget,” “Pogi” and “Tanda” also appeared in these computer files. Among members of the House of Representatives, the surname of former Masbate representative Rizalina Seachon Lanete was mentioned the most, appearing in over 40 file names. The full names of Representatives Abdullah Dimaporo (Lanao del Norte) and Rufus Rodriguez (Cagayan de Oro) also appeared in Luy’s deleted files. Other surnames that appear in these deleted records include: Sotto, Legarda, Marcos, Amatong, Flores, Montejo, Fuentebella, Ungab, Pangandaman, Abante, Lagdameo, Chiongbian, Pingoy, Dangwa, Estrella, Real, Sandoval, Serapio, and Valdez. The National Bureau of Investigation earlier turned over a CD containing Luy’s digital files to the Senate blue ribbon committee, including those that had been earlier deleted but retrieved. Copies of Luy’s files were distributed to the media on Thursday morning. The Read More …

May 292014
 
PSEi slumps on disappointing GDP Q1 results

MANILA, Philippines—The local stock barometer fell sharply on Thursday as investors sold down equities after the country’s first quarter domestic economic growth came in much slower than consensus forecasts. The main-share Philippine Stock Exchange index lost 111.21 points or 1.64 percent to close at 6,676.67. Dealers said the market was disappointed with the first quarter gross domestic product growth rate of 5.7 percent which was way below the 6.4 percent consensus forecast for the period. All counters were sold down but the most battered was the property counter (-2.4 percent), this sector being seen as the most sensitive to economic cycles. After breaking the 6,680 support level following the disappointing first quarter GDP print, the next support level to watch out for would be 6,600, said Asiasec Equities chief strategist Manny Cruz. Jonathan Ravelas, chief strategist at Banco de Oro Unibank, said profit-taking was triggered by the disappointing first quarter GDP results. With this, he said the market was at risk of revisiting the 6,500 to 6,600 levels. April Tan, head of research at leading online stock brokerage COL Financial, said there would be “no-rerating” in the stock market due to lower-than-expected GDP results. However, she said the sharp sell-off was likewise “not justified.” Fund manager Gus Cosio, president of First Metro Asset Management Inc., said while the first quarter GDP results were below consensus forecasts, he did not think this was a “disaster.” “It should bring valuations to realistic levels. For smart money, it’s opportunity,” he said, adding that Read More …

May 282014
 
Legarda proposes new ground for annulment

Senator Loren Legarda recently filed a bill seeking to add one more ground for annulment—separation of the couple for at least five years. In her explanatory note of Senate Bill 2225 filed on May 14, Legarda said the measure would help expedite the tedious process of annulment as well as lower the backlog of cases besetting the lower courts. “Parties seeking annulment require legal counsel for assistance in filing petitions and substantiating claims. Hence, annulment is widely considered a lengthy, tedious, and financially exhaustive procedure,” Legarda said. “This bill addresses such concerns by providing an additional ground for annulment…This amendment likewise caters to those who cannot afford legal services by making litigation as simple and expedient as possible,” Legarda said. The bill seeks to amend Chapter 3 of Executive Order No. 209 otherwise known as the Family Code of the Philippines. Currently Chapter 3 of the Family Code identifies six valid grounds for annulment: Lack of parental consent Insanity Fraud Force, intimidation, or undue influence Impotence Sexually transmissible diseases Under SB 2225, “a marriage may also be annulled if the parties have been separated in fact for at least five years” provided that the parties “shall both be required to present affidavits or certifications from parents, children of legal age, and other relatives attesting to the fact of the separation period without prejudice to whatever documents the court may further require.” “The separation period is crucial as the ultimate expression of the couple’s desire for an annulment,” the bill states. Read More …

May 252014
 
BCDA sets bid for Clark Green City

MANILA, Philippines – Major property developers will likely start laying the groundwork for the Philippines’ first smart and totally environment-friendly metropolis next year, a government official said. State-run Bases Conversion and Development Authority (BCDA) will start bidding out this year a 1,300-hectare portion of the 36,000-hectare Clark Green City project in Pampanga, a government official said. “We will parcelize the lot into six. We want different developers to come in,” BCDA president and chief executive officer Arnel Paciano Casanova said on the sidelines of the World Economic Forum (WEF) welcome reception. Major listed property firms, which approached the BCDA for the 1,300-hectare portion of the urban project, will likely start construction of mixed-use developments as early as 2015 as bidding is seen to be conducted this year, Casanova said.  While the master development plan for the Clark Green City has already been approved by the National Economic and Development Authority, the state-run agency is still waiting for President Aquino’s go signal before the contract for the development could be offered for bidding. “It’s about time, we have a lot of opportunities and we are riding on the optimism of the market,” Casanova said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The country’s property sector is on a boom for the past few years on the back of strong end-user demand, large housing backlog, investor optimism and the increasing middle class capable of buying properties. BCDA said the Clark Green City project is a $5-billion development that will transform Read More …

May 242014
 
Antoinette Taus signs with Viva

ANTOINETTE Taus is now in the Philippines for a vacation but it looks like she is staying in the country for good after she signed a three-year management contract with Viva Entertainment. “Ang dami kasing nangyari pagbalik ko and sunod sunod ‘yung mga offers. Even the fans, they’ve been very welcoming. Everyone’s been saying na ‘you should stay, it’s a sign,” Taus said. The former child star had a successful career in the entertainment industry before she moved to the United States in 2004 with her family. She worked in Los Angeles, California as a singer-model. When asked for her for her reaction on the issued that she will be pitted against Marian Rivera, the current girlfriend of her ex-boyfriend Dingdong Dantes, Taus said: “Hindi naman dapat. We’re all here to make the entertainment industry better, sa mga shows and programs. So kung may mga magagaling at magagandang artistang lumalabas, we should be happy. So we can uplift each other,” she said. “They’re both very talented and both very good looking. I hope we can all be happy,” she added. Meanwhile, Taus’ younger brother, Tom, who is vacationing in the country clarified his relationship status with ABS-CBN talent Andi Eigenmann. Tom reiterated that he and Eigenmann are just friends. “We’re just good friend. When I first arrived, we saw each other a few times in events and we started hanging out. But we’re friends since we’re kids,” he said. Is there a possibility that he will court Andi? Tom replied: Read More …

May 232014
 
Sarah enjoying her lovelife, at last!

Sarah Geronimo and boyfriend Matteo Guidicelli  with Ryan Agoncillo and wife Judy Ann Santos during an outing over the weekend. — PHOTO FROM RYAN’S INSTAGRAM The picture of Sarah Geronimo with boyfriend Matteo Guidicelli and her friends Judy Ann Santos and husband Ryan Agoncillo (who posted it on his Instagram) has generated an approving reaction, especially from Sarah’s fans and people who genuinely care for and love her. The question is: Has Sarah finally (finally!!!) gotten the blessing from her parents (particularly her over-protective mom Divine) to enjoy her long-delayed lovelife? It’s about time since Sarah is turning 26 on July 25. According to Funfare’s VDPA (Very Deep Penetration Agent), the picture (showing the foursome flashing wide smiles) was taken during a race “held in the south” which the group watched. “Matteo was supposed to join the race but he wasn’t feeling well,” said the VDPA, “so he decided to just watch it with Juday and Ryan who are from the south and Sarah gladly joined but she was able to watch only the tailend of the race.” It must be recalled that Sarah and Juday are good friends. It was Juday who was among the few friends who offered a shoulder for Sarah to cry on when she was having problems with Rayver Cruz (the boyfriend she almost but never had because he was reportedly to be “two-timing” Sarah who didn’t know that Rayver was also courting, or going secretly steady, with Cristine Reyes). “Sunday, May 18, was a Read More …

May 212014
 
Andrea Rosal arrives at baby daughter’s wake

(Updated 2:35 p.m.) Suspected communist leader Andrea Rosal on Wednesday arrived at the wake of her baby daughter at Iglesia Filipina Independiente National Cathedral on Taft Avenue in Manila. According to a report on GMA News TV’s News TV Live, Rosal, who was heavily guarded, arrived at the cathedral shortly after 2 p.m. In a phone interview with GMA News Online, Karapatan’s media liaison Donna Quidayan said Rosal has requested for 30 minutes of privacy with her family. A mass and eulogy will then follow, which will be open to the public, she added. Meanwhile, according to Bagong Alyansang Makabayan group secretary general Renato Reyes Jr., some of the priests have asked the Bureau of Jail Management and Penology officers escorting Rosal to leave the cathedral. On Tuesday, the Taguig Regional Trial Court’s Branch 266 allowed Rosal to attend the wake on Wednesday from 2 p.m. to 5 p.m., after which she will have to be brought back to Camp Aguinaldo where she is detained on kidnapping and murder charges. The court, however, denied her petition to attend her daughter’s burial scheduled on Thursday in her hometown of Ibaan, Batangas. Rosal, who gave birth to Diona Andrea on Saturday, is the daughter of the late rebel spokesman Gregorio “Ka Roger” Rosal. She is also a suspected leader of the Communist Party of the Philippines and New People’s Army. The infant died Sunday afternoon at the Philippine General Hospital due to oxygen deficiency in the blood. Militant groups have blamed prison Read More …