Jun 262013
 
Amnesty appeals to Filipino captors of 2 sisters

Associated Press 12:19 pm | Thursday, June 27th, 2013 Nadjoua Bansil (left) and sister Linda (right). AP MANILA, Philippines—Amnesty International and the family of two Filipino-Algerian sisters called for suspected Islamic extremists to release the women immediately, saying Thursday that they are human rights defenders and filmmakers who focused on the plight of impoverished Muslims in Mindanao. Nadjoua and Linda Bansil were taken by about 10 suspected Abu Sayyaf members Saturday in southern Sulu province’s Patikul town while working on a short film about Muslim coffee farmers. At least three companions of the sisters, who were seized from a van, were left behind by the gunmen, police said. Their brother, Mohammed Bansil, noted that his sisters were seized while tackling the very issues at the root of the decades-old minority Muslim unrest in the southern Philippines. “Instead of filming, they now have become the story,” he told The Associated Press. Ritz Lee Santos, who heads Amnesty International Philippines, said that the sisters have been longtime human rights volunteers. “It’s sad that they were taken because they went to Sulu to tell the whole country about the struggles of poor Muslims,” he said. Linda Bansil, 37, wrote for Amnesty International publications in the Philippines and her 39-year-old sister volunteered work on films about the travails and culture of Filipino tribesmen. They also worked together to produce low-budget, independent films showcasing Filipino Muslim life and culture, their family said. “Even on the streets, they’ll pick up homeless children or intervene when somebody’s Read More …

Jun 262013
 
SKorea raises growth forecast after stimulus

SEJONG, South Korea  — South Korea raised its growth forecast on Thursday to reflect the boost from government stimulus spending. The finance ministry said in a statement that South Korea’s economy will expand 2.7 percent this year, compared with its 2.3 percent estimate three months ago. South Korea’s parliament approved a $15 billion stimulus plan in May as companies are reluctant to step up investments amid an uncertain global economic outlook. In 2012, South Korea’s economic growth hit its lowest level in three years at just 2 percent. The ministry said the risks that could dent the country’s economy have been reduced compared with three months earlier. But the upward revision does not mean the export-reliant economy is set to enjoy a full-fledged recovery, the finance ministry said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “If you look at the speed of recovery, it is gradual and moderate,” ministry director general Choi Sang-mok told reporters. Exports have improved but continue to be weighed down by the weak yen which has reduced Japan’s demand for South Korean products. Big companies such as Samsung and Hyundai, which dominate South Korea’s economy, are yet to scale up their capital expenditures, indicating that the recovery still largely relies on government stimulus. Another worry for South Korea’s economy is the impending withdrawal of monetary stimulus in the U.S. But Choi said improvement in the U.S. economy could be a positive factor for South Korea’s economy even though financial markets had been rattled by Read More …

Jun 262013
 
PAL offers business class special from San Francisco and LA to 14 Asian cities

INQUIRER.net US Bureau 7:17 am | Thursday, June 27th, 2013 SAN FRANCISCO—Business class travel for two from San Francisco and Los Angeles to 14 Asian destinations is now available from Philippine Airlines for as low as US$5,388 for a limited period. Included destinations are Manila, Cebu, Macau, Hong Kong, Taipei, Beijing, Shanghai, Xiamen, Singapore, Bangkok, Jakarta, Ho Chi Minh City (Saigon), Denpasar (Bali) and Kuala Lumpur. Roundtrip airfare for two must be purchased between June 24 and July 15, 2013. The special offer requires a minimum stay of three days and a maximum stay of one month. Outbound US travel period is July 16 to Nov. 30, 2013, and travel must be completed by Dec. 14, 2013. Not included in the fare price are fuel surcharge, US government taxes and fees, airport fees and charges, which may all vary according to destination. Fare rules strictly apply. Tickets are valid for sale at PAL ticket offices and travel agents. 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. Tags: air travel , Airlines , business class fares , special fares Factual errors? Contact the Philippine Daily Inquirer’s day desk. Believe this article violates journalistic ethics? Contact the Inquirer’s Reader’s Advocate. Or write The Readers’ Advocate:

Jun 262013
 

MORE than 200 contestable customers or those electricity end-users with an average monthly consumption of at least one megawatt (MW) are now being served by their chosen suppliers as the commercial implementation of retail competition and open access (RCOA) began yesterday.

Jun 262013
 
Pay taxes in anticipation of immigration reform

By Edgardo M. LopezINQUIRER.net US Bureau 6:37 am | Thursday, June 27th, 2013 UNITED STATES, New York : NEW YORK, NY – JUNE 14: Immigration reform advocates stage a demonstration, organized by the New York Immigration Coalition, outside a detention facility run by Immigration and Customs Enforcement (ICE) on June 14, 2013 in New York City. Demonstrators staged the event ahead of Fathers’ Day to draw attention to the thousands of undocumented immigrant fathers deported by ICE and separated from their families in the United States. John Moore/Getty Images/AFP While 11 million undocumented immigrants are nervously anticipating the immigration reform bill pending in the US Congress, the government is happily anticipating the addition of 11 million new taxpayers. A study by the non-partisan Congressional Budget Office (CBO) projects that the passage of the bill would reduce the US deficit by an estimated $200 billion in the first 10 years and another $700 billion in the second decade. The CBO study indicates that with 11 million new taxpayers, the United States could substantially reduce its budget deficit in the next 20 years after the law is implemented. An expected stipulation in the immigration reform bill is the requirement for immigrants to pay back taxes before being allowed to acquire permanent legal status. Therefore, it would be wise for affected immigrants to start filing returns and paying the corresponding taxes, for past years and in tax years to come. You do not want to be caught in a situation where your tax Read More …

Jun 262013
 
Palace: No rush to release NBI findings on sea killing

By TJ BurgonioPhilippine Daily Inquirer 5:11 am | Thursday, June 27th, 2013 Presidential spokesman Edwin Lacierda: No rush. INQUIRER FILE PHOTO MANILA, Philippines—The Philippines is under no compulsion to simultaneously release with Taiwan its report on the May killing of a Taiwanese fisherman, allegedly by Philippine coast guards, in the waters off Batanes, Malacañang said on Wednesday. “Remember, these are parallel reports. As far as we know, when we are ready to release the report, as the President would order us, we will do so,” said Presidential spokesman Edwin Lacierda. According to Lacierda, President Aquino was still reviewing the National Bureau of Investigation (NBI) report on the fatal shooting of Taiwanese Hung Shih-chen in the waters off Balintang Channel last May 9. Video as evidence Taiwan and the Philippines conducted parallel investigations of the incident that set off a diplomatic row between the two. Justice Secretary Leila de Lima has confirmed that the NBI had recommended the filing of criminal and administrative charges against personnel of the Philippine Coast Guard (PCG) over Hung’s killing. The NBI has submitted its findings to the Department of Justice after its investigation, which entailed examining the vessels involved in the incident—the Taiwanese fishing boat and the Philippine patrol boat, which is owned by the Bureau of Fisheries and Aquatic Resources and manned by PCG personnel. Evidence included a video of the incident taken by the PCG. The PCG claimed it had acted in self-defense when the Taiwanese fishing boat tried to ram their vessel. Read More …

Jun 262013
 
Phl Business Bank goes into mining

MANILA, Philippines – Philippine Business Bank (PBB) Inc., the financial arm of the Yao Group of Companies, has dipped into the mining business following its purchase of some 600 million shares of Marcventures Holdings Inc. worth about P980 million last June 20. PBB, however, did not include in its disclosure to the Philippine Stock Exchange (PSE) the acquisition cost for the mining firm’s shares. MARC is a holding company involved in nickel mining operations in Surigao del Sur through its subsidiary – Marcventures Mining & Development Corp. (MMDC). Its shares closed trading yesterday at P1.64 each. The area covered by MMDC’s mineral production sharing agreement is in the Diwata mountain range of Surigao del Sur and covers 4,799 hectares. Last month, PBB was granted 16 branch licenses by the Bangko Sentral ng Pilipinas (BSP). These new licenses are on top of the 15 restricted  licenses acquired by PBB in 2012,  of which five will be opened this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The new licenses seek to  increase the  bank’s footprint  in the  local and regional  market. PBB listed its shares at the PSE in Feb. 19. It raised about P3 billion from the offering, proceeds of which would be used to finance the expansion of its branches. PBB’s niche market are the small- and medium-scale enterprises (SMEs). The bank plans to beef up its branch network to 100 from a current total of 79 branches. The new branches are part of the bank’s comprehensive Read More …

Jun 262013
 
Basic Energy, Malaysian partner to drill 10 oil wells in Indonesia

MANILA, Philippines – Basic Energy Corp. and its Malaysian partner Petrosolve Sdn Bhd have forged a deal to develop 10 oil wells in Indonesia. In a disclosure to the Philippine Stock Exchange, Basic Energy said the partnership has reached an agreement for PT Basic Energi Solusi to acquire from Petrosolve the rights to manage 10 identified oil wells in the Central Java area. PT Basic Energi Solusi is the foreign investment company incorporated by the parties’ joint venture company, Grandway Group Ltd., in Jakarta, Indonesia. Under the agreement, PT Basic shall initially manage the development of two oil wells in the area. “PT Basic Energi Solusi shall implement a development plan aimed at rehabilitating old or abandoned oil wells for possible limited production. It has commenced mobilization of the necessary manpower resources and logistics in the areas involved to oversee the drilling operations soon to be undertaken,” Basic Energy said. The business program in Indonesia is banking on the experience of Basic Energy in exploring oil wells and the chemical technology of Petrosolve for increased oil production. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Presently, oil in the area is produced by small groups of miners, using a combination of manual and mechanized systems to reach variable depths ranging from 80 to 300 meters, Basic Energy said. Basic Energy and Petrosolve announced their partnership in February, saying that the partnership would allow both companies to expand their respective operations globally. The partnership could be for projects within and Read More …