NBI, Taiwan probers meet anew to discuss Balintang Channel shooting

 News
Jun 062013
 
NBI, Taiwan probers meet anew to discuss Balintang Channel shooting

By Tetch Torres-TupasINQUIRER.net 1:27 pm | Thursday, June 6th, 2013 Taiwanese investigators use a rubber boat in Manila’s South Harbor to inspect the hull of the Bureau of Fisheries and Aquatic Resources ship involved in the shooting death of a Taiwanese fisherman in the Balintang Channel earlier this month. The Taiwanese are here while NBI investigators are in Taiwan to make a parallel investigation. INQUIRER FILE PHOTO MANILA, Philippines—The National Bureau of Investigation (NBI) and a team of investigators from Taiwan will meet Thursday to talk about their findings on the shooting incident in Balintang Channel last May 9 that led to the death of a Taiwanese fisherman. NBI Director Nonnatus Rojas confirmed that the Taiwanese probers arrived in the country Thursday morning to sit down with their counterparts with the NBI. Justice Secretary Leila De Lima earlier said it was the Taiwanese probers who requested the meeting. Both the Philippine and Taiwanese governments are investigating the May 9 shooting by Philippine Coast Guard (PCG) personnel of 65-year-old Taiwanese fisherman Hung Shih-Cheng. The PCG personnel have maintained that Shih-Cheng was accidentally shot at, after the Taiwanese fishing vessel refused to heed their warning shots. The meeting will not resort to any “cross-checking” of findings, De Lima added. 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 Read More …

Flashflood, landslide warnings up in Mindanao as potential cyclone nears PHL

 News
Jun 062013
 
Flashflood, landslide warnings up in Mindanao as potential cyclone nears PHL

Satellite Image at 7 a.m., June 6, 2013. | Weather Central A potential cyclone is now inside the Philippine area of responsibility and may head towards Mindanao, state weather forecasters said Thursday. PAGASA forecaster Alvin Pura said the LPA formed inside the Philippine area of responsibility (PAR) Thursday morning and is embedded within the inter-tropical convergence zone (ITCZ). “‘Yung inaasahang LPA nabuo na. Nariyan nakapaloob sa ITCZ … sa loob na ito (ng PAR),” Pura said in an interview on dzBB radio. But he said there is still no storm signal raised yet, as PAGASA is still monitoring the LPA to see whether or not it will intensify into a cyclone.  Should it become a cyclone, it will be locally codenamed Dante. Meanwhile, PAGASA forecaster Joey Figuracion said that there is also a chance that the disturbance may veer north towards Taiwan.  “Kung napunta sa area ng Pacific papuntang Japan, pwede maging ganap na bagyo,” Pura said. Flashflood, landslide warnings up in Mindanao PAGASA’s 11 a.m. advisory said the LPA and the ITCZ may trigger flash floods and landslides in Mindanao. It said that, as of 8 a.m., the LPA was estimated at 580 km east of Hinatuan, Surigao Del Sur, embedded in the ITCZ. “These weather systems will affect the Bicol region, Visayas and Mindanao,” it said, adding the whole Mindanao “will experience cloudy skies with moderate to heavy rains and thunderstorms which may trigger flash floods and landslides.” “Residents in these areas are advised to take all the Read More …

Filipinos hold ‘hala bira’ Independence Day Fete in NYC

 News
Jun 062013
 
Filipinos hold ‘hala bira’ Independence Day Fete in NYC

By Elton LugayINQUIRER.net US Bureau 1:17 pm | Thursday, June 6th, 2013 Iloilo’s dinagyang dancers strut their stuff. Photo by Elton Lugay NEW YORK—The city was having one of those hot and humid Sundays when the air was at its driest and the heat of the sun was punishing, unless you were in a park under a shady elm tree waiting for the big Philippine Independence Day parade. Marian Rivera and Sen. Bong Revilla greet throng. Photo by Elton Lugay Schoolteacher Catherine Ranili from Brooklyn didn’t mind the heat at all last Sunday, June 2. She was on Madison Avenue to watch her idol Sharon Cuneta perform live for what seemed to be the largest Philippine Independence Day celebration ever, with a crowd that at times grew to more than 80,000. “I grew up with her songs,” she told the INQUIRER.net. Cuneta of TV 5 was among the showbiz celebrities that graced the event and gave it luster. With her were Aga Muhlach and Derek Ramsay. Wearing a black suit, the Megastar was all sweat as she sang Rey Valera’s “Kahit Maputi Na Ang Buhok Ko.” Senator Bong Revilla of GMA Pinoy TV performed the same song after TV 5’s segment. The three networks shared one stage and had their show one at a time. Thousands cheered as Cuneta kicked off the parade’s four-hour musical program. She apologized for causing the parade’s delay, saying her limo was snarled in traffic as they headed to the assembly area. Marian Rivera and Read More …

Megaworld’s stock price to hit P9 per share

 Economy
Jun 052013
 
Megaworld’s stock price to hit P9 per share

MANILA, Philippines – Megaworld, the country’s leading real estate developer and BPO landlord, has received an upgraded stock price target of P9.01 per share and a buy rating by the prestigious online brokerage firm COL Financial Private Clients Group in a recently released report. Megaworld’s target price represents a 20 percent discount to the COL Financial’s Net Asset Value estimate of P11.26 per share. COL is estimating that Megaworld will enjoy a net income growth of P7.9 billion in 2013, up from the P7.4 billion earnings in 2012. This gives the real estate giant a price to earnings ratio of about 14.4 this year or way below other real estate properties having a price to earnings ratio of 20 times or more. COL Financial said that the upgraded rating is due to the high prices of the company’s properties located in prime locations such as the Bonifacio Global City (BGC) combined with the country’s strong economic growth, low interest rates and continued infrastructure developments benefitting real estate companies like Megaworld. Likewise, the firm said that the increase in income for Megaworld will be driven by its P180 billion in sales backlog and strong rental portfolio, assuming a six-year development period and a 16x price to earnings ratio valuation. They noted that the company’s current stock price is a good buy given the stable source of cash flows coming from its residential, office and commercial developments. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Megaworld is looking to double its Read More …

Timor Leste premier is Palace guest Thursday

 News
Jun 052013
 
Timor Leste premier is Palace guest Thursday

By TJ Burgonio Philippine Daily Inquirer 5:19 am | Thursday, June 6th, 2013 Kay Rala Xanana Gusmao, President of East Timor (Timor-Leste), shown in this 2003 photo, will confer with President Aquino on Thursday, June 6, 2013. Gusmao is here on a five-day state visit. AFP PHOTO MANILA, Philippines—President Aquino will receive on Thursday visiting Timor Leste Prime Minister Kay Rala Xanana Gusmão before going to Burma (Myanmar) on Friday for the World Economic Forum (WEF). A welcome ceremony at the Malacañang grounds has been laid out for Gusmão, who will proceed to the Palace after laying a wreath at the monument of national hero Jose Rizal at the Luneta. Gusmão, who arrived Wednesday, will sit down with Aquino to discuss bilateral issues. The two will be signing agreements for which no details have as yet been provided. The Timor Leste leader, who will be in Manila until Sunday, is here to forge cooperation on education, trade and investment, infrastructure and defense, foreign affairs officials said. His itinerary includes a lecture at the University of the Philippines College of Law and visit to industrial areas in Subic Bay in Zambales and Clark Field in Pampanga. Timor Leste is campaigning to become a member of the Association of Southeast Asian Nations, of which the Philippines is a founding member.

Aquino joins 1,000 leaders in Burma forum

 News
Jun 052013
 
Aquino joins 1,000 leaders in Burma forum

Philippine Daily Inquirer 5:17 am | Thursday, June 6th, 2013 Participants gather at a reception of the Myanmar International Convention Center where the three-day World Economic Forum on East Asia is being held in Naypyidaw, Burma, Wednesday, June 5, 2013. President Aquino will join some 1,000 leaders and delegates to the WEF. AP PHOTO/KHIN MAUNG WIN RANGOON, Burma—President Aquino will join some 1,000 leaders and delegates to the 2013 World Economic Forum (WEF) on East Asia, which opened Wednesday in Naypyidaw, the new capital of Burma (Myanmar), to discuss how emerging and fast-growing economies in the region such as the Philippines can become better connected through improved infrastructure. The Swiss-based WEF, which brings together powerful world figures to discuss pressing issues, is holding one of its regional summits this year in Burma, until recently a pariah, military-ruled state but which is now opening up to the world, with its challenges and opportunities for the region, particularly Burma’s partners in the Association of Southeast Asian Nations (Asean). The three-day 22nd WEF with its themes—inclusive transformation, regional integration, regional solutions for global resilience—highlights the issues facing Burma and its neighbors and sets the stage for re-engagement with the rest of the world. Reform process Sushant Palakurthi Rao, denior director, head of the WEF Asia forum, said the transformation issue is very important as it speaks of what is happening in Burma, with its ongoing reform process, The inclusion part, he said, is the fact that while investments are expected to accelerate in Read More …

Media killings still ‘major concern’

 News
Jun 052013
 
Media killings still ‘major concern’

By Nikko Dizon Philippine Daily Inquirer 4:08 am | Thursday, June 6th, 2013 Elisabetta Polenghi, younger sister of Italian photographer Fabio Polenghi, gives a Thai way ‘Wai” to express thanks in front of Thai media in Bangkok, Thailand, on May 29, 2013, after the court had found that Polenghi, killed while covering the military’s crackdown on anti-government protesters in Thailand’s capital three years ago, was shot by a high-velocity bullet like those issued to soldiers. Journalism remains a dangerous profession, the World Association of Newspapers and News Publishers (WAN-Ifra) said Wednesday, June 5, 2013. AP PHOTO/SAKCHAI LALIT BANGKOK—Journalism remains a dangerous profession with 54 media practitioners killed in the line of duty, including one from the Philippines, over the past year, the World Association of Newspapers and News Publishers (WAN-Ifra) said Wednesday. “The safety of journalists continues to be a major concern in areas of the world where conflict makes reporting the news dangerous, often deadly,” said WAN-Ifra’s Global Press Freedom Report. The report covered the period June 2012 to May 2013. WAN-Ifra’s recorded incident in the Philippines was the murder of commentator Julius Cauzo of radio station dwJJ in Cabanatuan City in Nueva Ecija province. Cauzo was shot dead on Nov. 8 last year. Cauzo, WAN-Ifra noted, was critical of local politicians and had received death threats. The group emphasized that “impunity remains a bitter issue in the Philippines.” It said that investigations were “still ongoing into the Nov. 23, 2009, ‘Ampatuan massacre,’ which saw 32 journalists tragically killed.” Read More …

Striking a balance

 Economy
Jun 052013
 

EVER SINCE the Philippines opened its doors to global trade, our country has experienced a radical change when it comes to business opportunities for foreign investors. Despite the foreign equity safeguards in the 1987 Constitution, Congress passed the Foreign Investments Act (FIA) of 1991, as amended, and Republic Act (RA) 8762, otherwise known as the Retail Trade Liberalization Act of 2000. These laws paved the way for more favorable and concrete guidelines for investors to consider before taking a plunge in the local business market.

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