Peso slides to 42-to-dollar level as US economy improves

 General
Jun 062013
 
Peso slides to 42-to-dollar level as US economy improves

By Paolo G. MontecilloPhilippine Daily Inquirer 11:52 pm | Thursday, June 6th, 2013 MANILA, Philippines — The peso erased most of its gains made earlier this week as the dollar strengthened amid the expectation of a sustained improvement in the US economy. The local currency closed at 42.14 to a dollar on Thursday, after two days of touching the 41: $1 level. Thursday’s close was weaker than the Wednesday’s 42.01: $1. The peso traded between 42.079 and 42.215 after opening at 42.12: $1. Trading volume was a more modest $1.067 billion from $1.25 billion the day before. BDO chief market strategist Jonathan Ravelas said the peso’s weaker close reflected the overall expectation of the continued recover of the world’s largest economy. “Over the medium term, the dollar will get stronger,” he said, adding that investors have been slowly abandoning their previous expectation that the peso would strengthen to below the 40: $1 before the end of 2013. “What we’re seeing is a correction on the global front,” he said. He said the local currency could make a march toward the 43: $1 level if more signs emerged indicating the strength of the US economy, which would lead to higher demand for the greenback. Follow Us Recent Stories: Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines. Short URL: Read More …

Winning pair share P39.462M Lotto 6/42 jackpot

 News
Jun 062013
 
Winning pair share P39.462M Lotto 6/42 jackpot

Two lotto bettors are some P19 million richer after they won the jackpot in the Philippine Charity Sweepstakes Office’s Lotto 6/42 draw Thursday night. In a post on its website, the PCSO said the two got the winning combination of 22-13-05-19-25-10 to win the jackpot worth P39,462,944. Also on Thursday, a lone winner bagged the P16-million jackpot in the Superlotto 6/49 draw after getting the combination of 40-20-26-15-45-36. The PCSO did not identify any of the night’s winners. Last Tuesday, a lone lotto bettor became P90.996 million richer after hitting the jackpot in the PCSO Superlotto 6/49 draw. The PCSO said the bettor got the winning combination of 20-05-45-35-26-21 to win the night’s jackpot worth P90,996,106.40. Last April 30, two lucky bettors shared P95,932,278 after getting the combination to the Superlotto 6/49 draw jackpot. But the biggest Lotto prize won is still the November 2010 draw, when a lone bettor won some P741.176 million for getting the winning combination 11-16-42-47-31-37. — DVM, GMA News

No categorical resignation from Sotto as Senate adjourns sine die

 News
Jun 062013
 
No categorical resignation from Sotto as Senate adjourns sine die

Although he announced early Thursday that he will resign as Senate majority floor leader, Sen. Vicente “Tito” Sotto III came short of categorically quitting his post during the chamber’s last session day. In the last few minutes before the Senate adjourned sine die, Sotto only said, “As the curtain falls on the 15th Congress, as its legal life draws its breath end of June, please consider my position co-terminus therewith.” After the session adjourned, Sotto explained that his pronouncement was in essence a resignation,so that he will no longer have to perform his job as majority leader when the 16th Congress opens next month. Under Senate rules, officers will end their terms only when their successors have been elected. “If I did not say that and I didn’t do that, I will be a carryover until 16th Congress until July 22. E ayoko na nga e,” Sotto said. “As of today, I consider myself resigned… Gets na nila iyon,” he added. Sotto also said he came short of immediately resigning for the sake of his employees, who will lose their jobs if he did so. Sotto’s statement was in contrast with that of Sen. Juan Ponce Enrile, who categorically said in a privilege speech Wednesday that he is quitting his post as Senate president. Sotto and Enrile’s moves came amid news of an impending change in the Senate’s leadership next Congress. Sen. Franklin Drilon, an administration ally, is eyeing to replace Enrile as Senate president after the ruling party secured Read More …

Jinggoy willing to be half-brother JV's adviser in Senate

 News
Jun 062013
 
Jinggoy willing to be half-brother JV's adviser in Senate

Despite a perceived rift between him and his half-brother, Sen. Jinggoy Estrada is willing to act as San Juan Rep. JV Ejercito’s adviser when the congressman assumes his Senate post in July. “If he seeks advice, then okay. If he does not, I cannot do anything,” Estrada said at a press briefing Thursday. Estrada quipped that he is willing to play the part of the elder brother because Ejercito, who won in the recently concluded elections, might lose his way in the Senate. “If he seeks guidance, as an elder brother and senior member of the Senate, I will support or even guide him. Baka mawala eh,” he said in jest. Estrada is the son of former President and Manila Mayor-elect Joseph Estrada with former senator Loi Estrada, while Ejercito is the former president’s son with incumbent San Juan City Mayor Guia Gomez. Last November, the younger Estrada publicly expressed disappointment over Ejercito’s reported statement that their sibling rivalry may soon reach the Senate. Ejercito also supposedly refused to shoot a television advertisement with Estrada during the campaign period—an incident downplayed by their father. Ejercito, for his part, said he will welcome any guidance from his elder brother. “As an incoming neophyte senator, his experience and advise will be of great help,” he said in a statement. Ejercito, however, refuted the senator’s statement that he might get lost in the Senate. — KBK, GMA News

Senate fails to ratify 3 extradition treaties

 News
Jun 062013
 
Senate fails to ratify 3 extradition treaties

The Senate adjourned on Thursday night without ratifying extradition treaties between the Philippines and three countries. Even with foreign diplomats in the Senate gallery, the chamber failed to muster the 16 votes it needed to ratify extradition treaties with Spain, India and the United Kingdom. When the roll call was called at past 4 p.m., only 14 senators were present on the Senate floor. The Senate instead approved local bills, such as the measure upgrading the Cotabato City District Engineering Office, the bill creating a new barangay in Occidental Mindoro, and proposed legislations allowing the construction of fish ports. — Andreo Calonzo/BM, GMA News

Comelec releases final tally of senators

 News
Jun 062013
 
Comelec releases final tally of senators

The Commission on Elections (Comelec), sitting as the National Board of Canvassers, has released its final tally of senatorial candidates according to its official canvassing of election results. In his blog, Comelec spokesperson James Jimenez quoted the NBOC’s resolution as saying that “while there are still remaining uncanvassed votes, the same will no longer affect the ranking of the winning candidates for Senator of the Republic of the Philippines.” The rankings of the top 12 remain unchanged. Grace Poe    20,337,327Loren Legarda    18,661,196Alan Cayetano    17,580,813Francis Escudero    17,502,358Nancy Binay    16,812,148Edgardo Angara Jr. 16,005,564Bam Aquino     15,534,465Aquilino Pimentel III    14,725,114Antonio Trillantes IV    14,127,722Cynthia Villar    13,822,854JV Ejercito    13,684,736Gregorio Honasan    13,211,424 Richard Gordon    12,501,991Miguel Zubiri    11,821,134Jack Enrile    11,543,024Ramon Magsaysay    11,356,739Risa Hontiveros    10,944,843Edward Hagedorn    8,412,840Eduardo Villanueva    6,932,985Jamby Madrigal    6,787,744Mitos Magsaysay    5,620,429Teddy Casiño    4,295,151Ernesto Maceda    3,453,121Tingting Cojaungco    3,152,939Samson Alcantara    1,240,104JC Delos Reyes    1,238,280Greco Belgica    1,128,924Ramon Montano    1,040,293Ricardo Penson    1,040,131Rizalito David    1,035,971Christian Seneres    706,198Marwill Llasos    701,390Baldomero Falcone    665,845 The top 12 senators were proclaimed by the Comelec barely a week after the elections. Poll chief Sixto Brillantes Jr. said the commission proclaimed the winners based on “projections” than actual votes cast. — Marc Jayson Cayabyab/BM, GMA News

Aquino signs ‘strict’ gun measure

 Entertainment
Jun 062013
 

MANILA, June 02, 2013 (AFP) – Philippine President Benigno Aquino has signed a law making it harder for private individuals to own firearms following a series of high-profile deaths this year, a government spokeswoman said Sunday. Under the law signed last week, those seeking to buy firearms will have to undergo drug and psychological tests […]

Sereno-De Castro rift over party-list TRO continues

 News
Jun 062013
 
Sereno-De Castro rift over party-list TRO continues

After accusing Chief Justice Maria Lourdes Sereno of omitting a recommendation she made in the case of a party-list group, Associate Justice Teresita Leonardo-De Castro once again wrote Sereno this time accusing her of “inaction.” De Castro, in her letter, belied Sereno’s claim that she did not include a draft temporary restraining order (TRO) when she handed the case of the Coalition of Associations of Senior Citizens of the Philippines party-list to Sereno’s office for approval. As standard practice in the Supreme Court, a member-in-charge recommending the issuance of a TRO should include a draft TRO to the Office of the Chief Justice when submitting it for approval. Sereno earlier wrote De Castro a letter explaining that she had to write her own TRO on the case because De Castro, who handles the case, failed to include a draft TRO when the case was submitted for approval. She claimed all she got from De Castro was a synopsis of the case. It was Sereno’s TRO that was made public the following day by SC Public Information Chief Theodore Te, in which further party-list proclamation was being stopped. De Castro, in a response letter to Sereno, insisted that a draft TRO had been submitted to her office. “I wish to correct a misimpression in your letters… that on May 28, 2013 at 8:05 a.m. what your office received from me was only the synopsis of the above-mentioned cases,” De Castro told Sereno in a two-page letter dated June 5, a copy Read More …

Gov't warns companies in Visayas to use legit software

 Economy
Jun 062013
 
Gov't warns companies in Visayas to use legit software

MANILA, Philippines — The Philippine Anti-Piracy Team (PAPT) issued a warning to businesses in the Visayas region to use genuine software as it sets another round of inspections. Ricardo Blancaflor, Director General of the Intellectual Property Office of the Philippines (IPOPHL), said continuing the use of pirated and unlicensed software can lead to heavier charges and be detrimental to business operations. “We encourage businesses to use genuine software for a stable and safe business environment. Especially those businesses in the Visayas region who are not using licensed software, we recommend that they standardize on genuine as soon as possible because we might visit them next,” Blancaflor said. PAPT recently visited several business centers in the South Metro region to conduct inspections and determine if the companies were utilizing genuine software. Establishments in Batangas and Laguna were inspected including Automated Technology Philippines, Diversion Industries Inc., Fastech Synergy, Glades International Corp., Miyasaki Polymer (Philippines), Nikkoshi Philippines, Paete Manufacturing Cooperative, Renewable Products Group, and Tann Philippines. IPOPHL led the inspections together with the Optical Media Board (OMB), both members of the PAPT. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “To lower the piracy and counterfeiting rate in our country, we at IPOPHL have taken to the lead in conducting regular visits in the Metro South region to emphasize the importance of Intellectual property in all industries,” Blancaflor said. “Use of stolen or misappropriated information for business operations is a crime and through these visits, we are further creating awareness on how Read More …

Salamin: A Filipino in America holds up a mirror

 News
Jun 062013
 
Salamin: A Filipino in America holds up a mirror

Kuwento By Benjamin Pimentel 7:08 pm | Thursday, June 6th, 2013 SAN FRANCISCO – In his wonderful essay collection, “Pinoy in America,’ Lorenzo Paran III pondered the typical dilemma of the expatriate Filipino. “No one can live in two places,” Third, as Paran is known to friends, writes. “It wouldn’t be living. To truly live, you must be rooted in the land. A virtual life doesn’t count. It’s not a life if you can log out.” It’s been three years since Third wrote that and the explosive growth of social media has certainly made it possible for many more Filipino expats to try to hang on to life in the Philippines through cyberspace. Salamin editor Third Paran with Ruben Nepales who is featured in the magazine’s first issue. PHOTO/RICK GAVINO Still, Third makes a strong case for rootedness which he reaffirms this month with the launch of a new magazine. It’s called Salamin, or mirror, and it seeks to reflect the Filipino story in America. Salamin is a print publication. You don’t need to be logged in to check it out. Does it make sense to put out a print magazine at a time when print media is dying? Third works for a print news publication in southern California, so he knows the challenge he has taken on. But Salamin, he says, is not going to be yet another outlet for breaking, real-time news. You can get that from many other places on the Web. Instead, the mirror Third is Read More …

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