Mar 052015
 
Index retreats as profit takers swarm market

Philippine Stock Exchange index. STAR/File photo MANILA, Philippines – The Philippine Stock Exchange index (PSEi) retreated yesterday as profit takers swarmed the market following the downtrend in most bourses abroad. The PSEi slipped 0.37 percent or 28.79 points but managed to stay above the 7,800 level at 7,819.04. The broader all shares index also finished in the red, dropping 0.21 percent or 9.71 points to close at 4,547.60. Most analysts said investors have been too enticed to pocket in gains from Wednesday’s all-time high performance, resulting in the decline during yesterday’s session. The much anticipated outcome of February’s inflation data did not make much of an impact yet to the local market during Thursday’s session.  “With foreign demand seeming to have dried up in the previous session, investors may check for flat trading with a downward bias in the next couple of sessions,” said Jason Escartin, investment analyst at F. Yap Securities Inc. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Abroad, most Asian markets and even Wall Street indexes ended lower. Locally, counters in the red overwhelmed those in the green, as only the services and mining and oil companies managed to increase. Industrial firms led counters which closed in the negative territory as it loss 1.07 percent or 137.59 points. Value turnover stood at P9.09 billion with 7.02 billion shares changing hands. Market breadth was positive as advancers beat decliners, 94 to 90, while 46 stocks were unchanged.

Mar 052015
 
BOC falls short of target despite 21% growth in collection

The Bureau of Customs in Manila. Wikimedia MANILA, Philippines – The Bureau of Customs grew its revenue by 21.1 percent last year, but still fell short of its collection goal of P408.1 million. Based on official data released yesterday, the BOC sustained its double-digit growth, chalking up revenues of P369.31 billion in 2014.   The amount, however, was 10.5 percent short of the agency’s target for the year. Majority of the country’s portals led by the Manila International Container Terminal, Port of Manila and the Ninoy Aquino International Airport failed to meet their revenue targets. Only the ports of Batangas, Iloilo, Cebu, Cagayan de Oro, Davao, Subic and Aparri exceeded their collection targets for 2014. For December alone, BOC revenues reached P38.14 billion, up 60.25 percent from the P23.8 billion registered in the same month in 2013.  The amount was also 19.3 percent higher than its P31.98 billion goal.   Cash collections which net out importations that are booked as Tax Expenditure Funds, or non-cash collections recorded on paper for government transactions, rose by 14 percent  despite the  decline in the value of crude and petroleum products by 38 and 23-percent, respectively, due to fall in oil price. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Tax Expenditure Funds surged by more than 100 percent  arising from the collection of P11.012 billion worth of government accounts, mostly,  coming from importations of the National Food Authority. For this year, the BOC is tasked to collect a total of P456.47 billion with P446.47 Read More …

Mar 052015
 
Watch the weirdest, most wonderful bugs in 'Micro Monsters'

Pioneering macroscopic filming techniques reveal that there is much more to these creatures than meets the eye. Photo provided by Animal Planet. MANILA, Philippines – Right beneath our feet is an often unseen world of disguise and espionage, social networking and courtship, rape and pillage, parenthood and relationships. This March, renowned broadcaster and naturalist David Attenborough reveals the world of the arthropods – the most successful group of animals on the planet – on ‘Micro Monsters.’ Discover the intricate behavior of insects, scorpions and spiders in this revolutionary new series as bugs fill the screen. The show premieres on Animal Planet (available nationwide in the Philippines on every major cable, DTH and local provincial operator) every Thursday at 9:00 p.m., starting March 12. From armies of killer ants and spiders weaving silken trap doors, to bees communicating with a waggle dance and assassin bugs that clothe themselves in their victims’ corpses, David and the crew get up-close and personal to capture the creepy-crawlies, setting up shoots in three different continents. Pioneering macroscopic filming techniques reveal that there is much more to these creatures than meets the eye. Meet the jeweled cockroach wasp and have a glimpse at bug love, from courtship to reproduction. You will be surprised at the tactics that some bugs employ to get the attention of a prospective mate. There is also a scorpion that engages in an elaborate dance, a wasp that dabs on perfume, a cricket that resorts to bribery, and a spider that takes Read More …

Mar 042015
 
From 9 last month, working MRT trains now 15: GM

Two days before Christmas and with thousands of Metro Manila denizens on vacation outside the metropolis, MRT riders experience a rare comfortable ride to their destinations on Tuesday, December 23. Malacañang on Monday stood firm on the government’s decision to raise fares of the Light Rail Transit (LRT) and the Metro Rail Transit (MRT) amid calls from some senators to defer the fare hike scheduled on January 4, 2015.(MNS photo) MANILA, Mar 4 (Mabuhay) – The Metro Rail Transit (MRT) has replaced 150 meters of rail tracks but will need to replace at least 6,000 meters more, MRT General Manager Roman Buenafe said Wednesday. Buenafe said the shortened operating hours over the weekend allowed the MRT to replace 150 meters of tracks. He said the next stage is to replace another 190 meters of rail tracks but said pre-welding work for the replacement has not been finished. This means there will be no shortened MRT schedule for the weekend. “There is a pre-welding process so hindi aabot sa weekend…Tuloy tuloy ang operation. Walang isasara ngayong weekend,” he said. Buenafe said the MRT is targeting to replace 6,000 meters of rail tracks of the entire 16.9-km MRT line. “6,000 meters ang di magandang condition na riles. We have ordered 7,000 meters of rails that will arrive May-June,” he said. The MRT official said he wants the entire track replaced but admitted there are budgetary constraints. He said he is recommending that the recent fare increase be used for the rail replacements Read More …

Mar 042015
 
US billionaire says WWII Japanese ship found in Philippines

Microsoft co-founder Paul Allen says he has found the Japanese Navy’s biggest warship at the bottom of the sea in the Philippines, 70 years after US forces sank it. Allen posted a photo on Twitter on Tuesday of the World War II battleship Musashi’s rusty bow, which bore the Japanese empire’s Chrysanthemum seal. The American billionaire, who has also pursued space exploration, said his luxury yacht and exploration ship, the M/Y Octopus, found the Musashi one kilometre (1.6 miles) deep on the floor of the Sibuyan Sea. The Octopus’ remote operated probe Octo ROV located the Musashi on Monday, according to Allen’s website. The Octopus is also outfitted with an exploration submarine. “RIP (rest in peace) crew of Musashi, approximately 1,023 (lives) lost,” Allen said in another tweet. Allen also posted a photo of a valve from the wreckage, which he described as the “first confirmation” that it was of Japanese origin. He said on Twitter he would soon post video of the ship’s catapult and valve areas. The Sibuyan Sea, at the heart of the Philippines’ central Visayas islands, covers busy shipping lanes and lies on the path of most tropical storms that cross the country from the Pacific Ocean. American warplanes sank the Musashi in the Sibuyan Sea on October 24, 1944, at the height of the Battle of Leyte Gulf, considered the largest naval encounter of World War II in which US and Australian forces defeated the Japanese. The Musashi was a “mighty battleship” with “mammoth 18-inch Read More …

Mar 032015
 
'Jodi Sta. Maria has never left Jolo Revilla's side'

Jodi Sta. Maria never left Jolo Revilla since he was hospitalized on Saturday. Philstar.com/ Jonathan Asuncion MANILA, Philippines – Jodi Sta. Maria is proving that the rumors of falling out between him and politician-actor Jolo Revilla are not true. The politician-actor’s manager Lolit Solis said in an interview on ABS-CBN’s TV Patrol on Tuesday night that Jodi hasn’t left Jolo’s side since he was rushed to the hospital on Saturday. Jolo sustained a gunshot wound in the chest. The Revilla family said Jolo sustained the wound when the gun he was cleaning accidentally fired. However, there are claims that the wound may be self-inflicted. There have been reports that Jolo and Jodi are falling out of love in connection with the involvement of the actor’s father, Sen. Ramon “Bong” Revilla Jr., in the multi-billion pork barrel fund scam. Solis said that Jodi has never left Jolo’s side and she has been tending to him in the hospital. Entertainment ( Article MRec ), pagematch: 1, sectionmatch: 1 She said that it was Jodi who noticed Jolo’s bloated abdomen as she was cleaning the actor. Solis said she is hoping that Jodi’s love for Jolo would give him more strength to fight for his life. “Mahal naman niya si Jodi, baka ‘yong pagmamahal ni Jodi makatulong sa kanya [maka-recover],” she said. Revilla family’s spokesperson, lawyer Raymund Fortun, had said that the younger Revilla’s condition was “deteriorating.”

Mar 032015
 
Education Technology funding jumped 55% in 2014

MANILA, Philippines– According to a recent research by CB Insights, the total Education Technology (Edtech) funding in the U.S in 2014 rose to $1.87 billion, a 55% increase from previous year. Online education has become a new trend joined by many top universities such as Harvard, Stanford, Berkeley, and South East Asia is no exception with many prominent institutions such as Sains, Tenaga Nasional (Malaysia), Binus (Indonesia), and AMA (Philippines) on their way to bringing their courses online. Online teaching has become popular In US and Europe, online degree programs have become popular. Students can pick the classes and timeframes which are more suitable for them. They can also study anywhere whereinternet connection is available. Dozens of US institutions including Harvard, MIT and Princeton are offering their courses via Massive Open Online Course (MOOC) format, while hundreds of other universities such as UC Berkeley and University of Maryland have launched their own online degree programs. A report by Sloan Consortium in 2013 shows that 74% of Chief Academic Officers in US considered the learning outcomes in online education as the same or superior to those in face-to-face instruction. Top World-Rank Universities: Harvard, Stanford, Princeton have carried out e-learning programs According to Coursera, one of the most well-known education companies online, online teaching will play a disruptive role in the next 10 years. However, it is highly risky and may cost a lot for universities to set up online teaching programs by themselves. A report from University of Illinois at Urbana-Champaign Read More …

Mar 032015
 
‘Raising growth: two different approaches’

When it comes to economic performance, the Benigno Aquino III administration can claim to some element of swagger and boast. Overshadowing poor past performance. In the eyes of national economy watchers, the growth rate has risen above historical performance. We now deserve good notice in many international surveys of economic and social indicators among developing countries, including in the Asean. The sovereign credit rating has reached investment grade, increasing our visibility within the international development community. Moreover, as the saying goes, a rising tide raises all boats. Higher economic growth improves public resources. It is then possible to address urgent social problems that need redressing. We see this happening in the allocation of more funding for education and public health. It is helping poverty alleviation, although this will take a long time to succeed. Good luck supports economic performance. The successful outcome that is apparent from this economic record needs emphasis. The management of the fiscal side of government operations has been kept under a tight budgetary framework, making it possible to work within the boundaries of sound macroeconomic balance. But the maintenance of sound macroeconomic fundamentals is partly and importantly helped along by “good luck” rather than by internal efforts at economic reforms. Two main factors that contribute to the sound macroeconomic conditions are the result of “good luck”: (1) High dollar earnings due to homeward remittances of migrant workers from foreign shores and, to a large extent, the rising BPO service export earnings, and (2) Structural adjustments taking Read More …

Mar 032015
 
Mandatory employment of lifeguards in public pools sought

  — A little boy is carried on a spine board by the standby medical personnel to be brought temporarily to a medical station during the 2015 Panagbenga Festival Grand Float Parade on Sunday (March 1, 2015) along Session Road in Baguio City. (MNS photo) MANILA (Mabuhay) – A lawmaker has filed a measure mandating the employment of qualified lifeguards at all public swimming pools and bathing facilities to protect the public especially the children. Rep. Sherwin T. Gatchalian (1st District, Valenzuela City) said House Bill 5378 seeks to establish a formula based on World Health Organization standards for the number of lifeguards required to be on-duty at all times at public swimming pools. Gatchalian filed the bill citing a 2009 report, which identified drowning as the second leading cause of death among Filipino children. “Drowning rates among children have remained at the same level for decades, indicating that it is an issue that has been inadequately addressed by public policy,” Gatchalian said. The measure, to be known as “Lifeguard Law of 2015,” mandates strict enforcement of the lifeguard requirement by the Department of Health, Gatchalian said. Under the measure, each public swimming pool shall employ at least one certified lifeguard for every 250 square meters of pool during all hours of operation and shall be duly certified by any nationally recognized organization accredited by the DOH. The pool operator shall provide the appropriate local government unit (LGU) with a certification and supporting documents proving that he or she has Read More …

Mar 022015
 
PNP to give Jolo Revilla family ‘space’

Jolo Revilla in stable condition after gun accident. Cavite Vice Governor Jolo Revilla lies in the Intensive Care Unit of the Asian Hospital and Medical Center in Muntinlupa City on Monday, March 2. The son of detained Senator Ramon Bong Revilla Jr., Jolo accidentally shot himself on the upper right chest while reportedly cleaning a pistol on Saturday, February 28. Photo courtesy of Office of Sen. Bong Revilla The Philippine National Police on Tuesday said it would give the family of Cavite Vice Gov. Jolo Revilla some space as the police created a task force to investigate the shooting incident involving the son of Sen. Ramon Bong Revilla Jr. “Ang nakikita namin kailangang bigyan ng konting space. Nakikita natin ang sensitive nature ng incident,” PNP spokesperson Chieft Superintendent Generoso Cerbo told reporters. “At this point, hindi nakikita ng PNP ang urgency para kausapin si Vice Governor o sinuman ang possible witnesses,” Cerbo added. Earlier, PNP National Capital Region Police Office chief Director Carmelo Valmoria said a task force to investigate the alleged accidental shooting of Jolo had been created.  Jolo is the son of Sen. Revilla and Rep. Lani Mercado-Revilla. He sustained a gunshot wound on his upper right chest purportedly while he was cleaning his gun over the weekend.  He is currently confied at the Asian Hospital and Medical Center in Muntinlupa City. Earlier in the day, the Sandiganbayan allowed the elder Revilla to visit his son. The senator is currently detained at the PNP Custodial Center over the Read More …