July 2013 – Page 7

PACQUIAO EYEING PRESIDENCY

News

Jul 282013

Macau — Philippine boxing great Manny Pacquiao is harboring thoughts of running for president in his beloved homeland when he finally hangs up his gloves, he revealed to Agence France-Presse in an exclusive interview. Giving his strongest hint yet that he will push to the top of the political tree when he finally retires from the ring, the “Pacman” — a hero and congressman in his home country — admitted he had considered the presidency of the 95 million-strong nation. When pressed on whether he had thought about shooting for the top job, the softly-spoken 34-year-old replied “Yes”. Drawing parallels between his pugilism and politics careers, the former world champion in eight weight divisions said: “When I started boxing, of course I was planning… and thinking about getting to become a champion. So when I entered politics it’s the same thing. “But, you know, it’s far away,” he said, adding: “It’s God’s will.” Before that, however, Pacquiao whose record stands at 54 wins, five losses and two draws, must concentrate on his latest bout — a post breakfast-time tear-up with US fighter Brandon Rios, kicking off at the Venetian resort-hotel in Macau at 10:00 a.m. on November 24. The unconventional start time is for the benefit of the lucrative US pay-per-view audience, who will be settling down to watch the fight mid-evening on Saturday, as top US promoter Bob Arum attempts to elbow his way into the China market. And viewers will not be oblivious to the fact that it Read More …

Aquino, Abe vow common stand vs China

News

Jul 272013

3:11 am | Sunday, July 28th, 2013 Japanese Prime Minister Shinzo Abe, left, delivers his response during a joint press conference with President Benigno Aquino III Saturday at Malacañan Palace in Manila. AP MANILA, Philippines—President Benigno Aquino III and Japanese Prime Minister Shinzo Abe on Saturday pledged to pursue a common stance against maritime aggression in the Asian region amid their growing territorial disputes with China. “We reviewed the security challenges that confront our nations and pledged to cooperate in advancing our common advocacy for responsible action from international players,” said Mr. Aquino, reading from a prepared statement following his meeting with Abe. The Philippines has an ongoing maritime dispute with China in the West Philippine Sea (South China Sea), while Japan is locked in a sovereignty row over the islands called Senkaku by Japan and Diaoyu by China. In their statements, however, neither President Aquino nor Abe mentioned China by name. In line with this strategic partnership, the two agreed to strengthen “maritime cooperation, which is a pillar of our strategic partnership,” according to Mr. Aquino. He thanked Japan for building 10 “multi-role response vessels” for the Philippine Coast Guard and providing communication systems for coast patrol through a yen credit facility. Strategic interests Abe, reading from his own prepared statement, described the Philippines as a “strategic partner with whom we share fundamental values and many strategic interests.” He said he intended to attach particular importance to Japan’s relationship with the Association of Southeast Asian Nations (Asean), adding that Read More …

Ramos leads PH vets in Korea to mark 60 years of ‘unstable’ peace

News

Jul 272013

Ramos leads PH vets in Korea to mark 60 years of ‘unstable’ peace

By Nikko DizonPhilippine Daily Inquirer 12:37 am | Sunday, July 28th, 2013 Former President Fidel Ramos. INQUIRER FILE PHOTO SEOUL—Former Philippine President Fidel V. Ramos wore his “never forget” ribbon on his left finger the whole day of Saturday, even after the colorful ceremony that commemorated the armistice that ended the Korean War 60 years ago. Ramos, 85, who fought with the 29th Battalion Combat Team from the Philippines in that war, and seven other Filipino veterans attended the Commemorative Ceremony for the United Nations Forces on the 60th Anniversary of the Korean Armistice. “The ribbon was a reminder for us to never forget,” Ramos told the Inquirer in an interview after the ceremony. “But for my part, I assured my fellow veterans seated near me and the ministers that regardless of age, regardless of the lapse of 60 years, the veterans, especially the Filipino veterans of the Korean War who have survived will still be around to help in the defense of freedom and democracy on the Korean Peninsula.” Veterans from the 21 countries that sent combat forces to Korea in 1950 came to the ceremony. Some were in wheelchairs, others stooped and walked slowly with their canes. Many remained sprightly, and all of them still had vivid memories of the war they fought 60 years ago under the United Nations flag and for which South Korea formally thanked them on Saturday. Around 300 veterans attended the commemorative ceremony for the UN Forces as the world remembered the 60th Read More …

PLDT dividend policy gets mixed reviews from credit watchers

Economy

Jul 272013

PLDT dividend policy gets mixed reviews from credit watchers

MANILA, Philippines – The dividend policy of Philippine Long Distance Telephone Co. (PLDT) has earned praises anew from a Hong Kong-based financial publication but at the same time drew flak from New York-based credit rater Moody’s Investors Service. PLDT was recently cited with the Most Consistent Dividend Policy among publicly-listed Philippine companies in the 3rd Annual Southeast Asia Institutional Investor Corporate Awards by Hong Kong-based investor publications Alpha Southeast Asia Magazine. The award was based on the votes of independent investors and analysts surveyed by the regional publication. PLDT chairman Manuel V. Pangilinan said the company is honored and gratified that its efforts to deliver value to customers and shareholders have again been recognized. “Despite intense competition and the profound changes taking place in the telecoms industry in 2012, PLDT paid out 100 percent of its 2012 core earnings per share as dividends to shareholders, making it the sixth consecutive year of 100 percent payout,” Pangilinan said. This is the second year in a row that PLDT was cited by Alpha Southeast Asia Magazine for its dividend policy. The institutional investment magazine said PLDT was one of the largest dividend payers on a per share basis and the third largest dividend payer among companies in Southeast Asia in last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Earlier this year, PLDT also received recognition for its commitment to a consistent dividend policy from Hong Kong-based financial investment magazine FinanceAsia. Alpha Southeast Asia is a Hong Kong-based publication which Read More …

Steady growth in remittances eyed this year

Economy

Jul 272013

Steady growth in remittances eyed this year

MANILA, Philippines – First Metro Investment Corp. (FMIC) has retained its growth forecast for full year cash remittances at four to five percent on the back of strong global demand for Filipino workers in other countries. According to the latest issue of The Market Call, a joint monthly publication of FMIC and the University of Asia and the Pacific (UA&P), the level of remittances continued to be buoyant with dollar and peso values posting above year-to-date level growth rates. The announcement by the US Federal Reserve late May of a possible fourth round of quantitative easing – the practice of buying $85 billion in US Treasury and mortgage bonds a month – later this year spooked portfolio investors and forced many to reduce exposure in emerging markets and risky assets. This translated into the highest trading volatility for the peso for the year as it ranged from 41.91 to 43.89 or a 3.9 percent depreciation of the peso-dollar exchange rate to an average of 42.91 in June. This was a reversal of a 0.4 percent rise of the peso in May that brought it to its highest level since January 2012. FMIC-UAP expressed confidence that remittances would remain robust due to sustained strong demand for skilled and professional Filipino workers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Market Call cited data from the Philippine Overseas Employment Administration (POEA) that showed the number of Filipinos who got their overseas job orders approved from January to May this year remained Read More …

Napocor to install add’l 103MW capacity in off-grid areas by 2016

Economy

Jul 272013

Napocor to install add’l 103MW capacity in off-grid areas by 2016

MANILA, Philippines – State-owned National Power Corp. (Napocor) is aiming to install 103 megawatts (MW) additional power capacity in off-grid areas by 2016, its top official told The STAR. This is in line with Napocor’s missionary electrification mandate under the Electric Power Industry Reform Act of 2001, its president, Froilan Tampinco said. The target also includes putting up 518 circuit-kilometers of transmission lines, 45 megavolt-amperes substations – all in off-grid areas. “Napocor continues to pursue our mandate to provide electricity to off-grid areas, particularly in areas where private investors hesitate to come in due to lack of infrastructure and political and security concerns,” Tampinco said as he highlighted his accomplishments as head of the power company. Tampinco has tendered his resignation due to “personal reasons” and is set to leave the agency by Aug. 1. Upon assuming office in 2008, Tampinco said Napocor installed diesel power plants in Cuyo, Palawan (500 kw) and in Siasi, Sulu (1,000 kw) and Power Barge 109 in Tablas, Romblon (1,000 kw). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Napocor also upgraded three diesel power plants in Marinduque. “We installed transmission lines in Occidental Mindoro and Catanduanes and completed four substation projects in Palawan and Catanduanes,” Tampinco said. The following year, Napocor installed 12,718 kw of new capacities in 34 Small Power Utilities Group (SPUG) areas nationwide, from as far north as Cagayan down to Basilan and Sultan Kudarat in southern Philippines. “We were also able to construct 154 diesel-fired mini grids in Read More …

Industry group pushes for lower power cost

Economy

Jul 272013

Industry group pushes for lower power cost

MANILA, Philippines – A group of local industry supporters have asked the government to address the high power cost in the Philippines, noting that it is the highest in Asia. “The cost of power, the highest in Asia, makes the Philippines uncompetitive, not only in manufacturing but also in all areas of the economy,” said the Philippine Employer-Labor Social Partnership, Inc. (PELSPI) in a position paper submitted to the National Economic and Development Authority (NEDA). The group, which includes University of the Philippines labor professor Rene Ofreneo, said the high cost of power in the Philippines is threatening the growth potential of the booming call center sector. “It is even threatening the viability of the booming call center/BPO sector. In the electronics industry and other manufacturing industries, power accounts for one third of the total cost of production compared to less than 10 percent for payrolls,” the group said. The group noted that the Electric Power Industry Reform Act of 2001 failed to lower power cost and improve power service. It urged the government to review the EPIRA and propose the necessary amendments. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “A review and overhaul of the EPIRA program is urgent,” it said. The group expressed support to the government’s efforts to reengineer a revival of Philippine manufacturing. “With a stagnating industrial and agricultural base, the Philippines, the second most industrially-developed in Asia in the 1960s, has been left behind by our East and Southeast Asian neighbors,” it said. Read More …

Globe budgets P10.8M to boost signal in posh villages

Economy

Jul 272013

Globe budgets P10.8M to boost signal in posh villages

MANILA, Philippines – Globe Telecom Inc., is spending as much as $250,000, (P10.8 million) per village to improve its wireless signal in posh subdivisions. Emmanuel Estrada, head of Network Technologies Strategy of Globe, said the company is in talks with several exclusive villages in Metro Manila that reject the construction of cell sites in their subdivision premises. Estrada said Globe has introduced the use of cell sites disguised as palm trees to address aesthetic concerns over the use of towering cell sites that are necessary in effecting seamless connectivity in exclusive villages. The offer to build palm-like cellphone towers follows the introduction of the outdoor distributed antenna system (ODAS), a state of the art technology that makes use of specialized lamp posts built with radio signal transmission capability. “The use of tree-shaped cellphone towers is part of Globe Telecom’s efforts to improve wireless signal in exclusive villages in line with our network transformation initiative,” he stressed. He pointed out that Globe has utilized aesthetic tree solution in enhancing connectivity in Urdaneta Village in Makati City. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He explained that the use of palm-tree cellphone towers is most effective in camouflaging gigantic cell sites that are sometimes considered as eye sores by some residents in exclusive villages. “The disguised cell phone towers will be difficult to identify as such and they even work to beautify the area where these infrastructures are installed,” Estrada said. Certain residents in exclusive villages have been opposing the Read More …

Palace denies Ochoa a Customs ‘padrino’

Entertainment

Jul 272013

MANILA, July 26 (Mabuhay) — Malacañang Friday denied Executive Secretary Paquito Ochoa, Jr was among the personalities acting as ‘padrinos’ or godfathers to some officials at the corruption-ridden Bureau of Customs. Presidential Deputy Spokesperson Abigail Valte told a media briefing Ochoa himself admitted he recommended the appointment of Customs Deputy Commissioner Peter Manzano. But Valte […]

Billy Crawford, Nikki Gil break up

Entertainment

Jul 272013

MANILA, July 26 (Masbuhay) –Kapamilya stars Billy Crawford and Nikki Gil have ended their relationship, which would have turned five years next month. This was confirmed by ALV Talent Circuit, which manages the careers of the 31-year-old “It’s Showtime” host and the 25-year-old “ASAP” mainstay. “On behalf of our artists, Billy Crawford and Nikki Gil, […]

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