THE TRANSPORTATION department has awarded a Korean consortium the multi-million-peso consultancy services contract for the civil works of the Light Rail Transit Line 2 (LRT-2) East Extension Project.
Feb 272014
Feb 272014
THE PHILIPPINE Stock Exchange (PSE) plans to implement broker anonymity a year earlier, after it received positive feedback from market participants.
Feb 272014
Philippine Daily Inquirer 12:22 am | Friday, February 28th, 2014 Philippine stocks on Thursday set a new record for the year as sentiments stayed positive. The benchmark Philippine Stock Exchange Index rose 0.51 percent, or 32.19 points, to 6,354.79. Also, the broader all-shares index was up by 0.37 percent, or 14.14 points, to 3,332.40. Subindices ended mixed, with financial, services as well as mining and oil, closing in the red. The industrial, holding firms, and property subcounters ended positive. “With only a day left in February trade, the market is still obviously in the hands of the bulls,” Accord Capital Equities Corp. said in a report Thursday. Data from the PSE showed that a total of 3.42 billion shares, valued at P7.76 billion, changed hands. There were 90 advancers against 68 decliners, while 44 stocks were unchanged. Universal Robina Corp. led the list of most actively traded stocks as it gained 2.19 percent to P140 a share. It was followed by Philippine Long Distance Telephone Co. (-0.52 percent to P2,684), Megaworld Corp. (+1.22 percent to P4.15), Ayala Land Inc. (+4.29 percent to P29.20), and International Container Terminal ( -1.98 percent to P99 per share). Miguel R. Camus 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: http://business.inquirer.net/?p=165000 Tags: Business , stocks Factual Read More …
Feb 272014
Local fishermen who fish in Bajo de Masinloc, also called Panatag Shoal, denied “provoking” Chinese coast guard which supposedly led to the Chinese using a water cannon to drive the Filipinos away. In an exclusive interview aired on GMA News’ “24 Oras” Thursday evening, Ramoncito Dumas, one of the fishermen that the Chinese coast guard drove away with a water cannon on Jan. 27, said they were not provoking the Chinese, but were trapped in the shoal because of bad weather. “Itinataboy naman nila kami papalayo sa Scarborough Shoal (another name for Bajo de Masinloc). Eh, hindi naman kami puwedeng lumabas kasi kasagsagan ng lakas ng Amihan. Mahirap naman isapalaran namin yung buhay namin sa labas ng Scarborough,” Dumas narrated. He even showed GMA News a video of the incident, taken on his cell phone. Dumas’ video showed three Chinese Coast Guard vessels surrounding the two Filipino fishing boats. Ricardo Magno, who was also among the fishermen that experienced the water cannon attack disputed the Chinese foreign ministry’s statement on Wednesday that the Filipino fishermen exhibited “provocative posture, appearing to spoil for a fight.” “Pano kami magiging siga, e yung sasakyan nila ang lalaki, tapos yung sa’min maliliit lang na mga bangka?,” Magno said. He said they will continue to fish in the shoal as long as there is no order from the government to leave the area. “Kung sinabi ng gobyerno natin na kami ay umalis doon, puwede. Pero kapag China, hindi puwede dahil hindi naman sila tagarito. Dayo sila Read More …
Feb 272014
A lone bettor is now P89.065 million richer after bagging the jackpot of the Philippine Charity Sweepstakes Office’s Superlotto 6/49 draw. The PCSO said the winner got the combination of 30-44-45-07-39-48 to win Thursday night’s lotto jackpot worth P89,065,812. But as in the past, the PCSO is not likely to name the winner for security reasons. Last Feb. 14, two lotto bettors jointly won P26.69 million in the PCSO Megalotto draw, getting the combination of 02-10-14-38-31-33 to win the jackpot worth P26,690,616. On Feb. 1, two bettors won P27,893,532 after getting the combination of 11-21-12-04-20-08 in the PCSO Lotto 6/42 draw. Last Jan. 31, a bettor won P78,792,744 in the PCSO’s Megalotto 6/45 draw after getting the combination of 38-16-32-07-19-14. On Jan. 20, a lone lotto bettor got the combination of 02-38-32-19-08-03 to win the Grand Lotto jackpot worth P155,401,636. On Jan. 12, a lone bettor won the jackpot in the PCSO’s Superlotto 6/49 draw by getting the combination of 09-21-14-27-06-19 to win P24,816,752. But the biggest lotto prize in recent history was in November 2010, when a lone bettor won some P741.176 million for getting the winning combination 11-16-42-47-31-37. — ELR, GMA News
Feb 272014
By Matikas SantosINQURER.net 8:44 pm | Thursday, February 27th, 2014 Philippine Solicitor General Francis Jardeleza is confident and optimistic that the international arbitral tribunal hearing the maritime dispute case between Philippines and China will rule that the nine-dash line claim of China is invalid. MANILA, Philippines—The Philippines is optimistic and confident that it will win in its arbitration case against China, saying Beijing’s moves to pursue its territorial claims in the West Philippine Sea (South China Sea) are ‘invalid.” “We are here to prove that from the point of view of the rule of law, all of the actions and all of the claims of China are not consistent with the United Nations Convention of the Law of the Sea (UNCLOS) and therefore they are invalid,” Jardeleza said in a forum organized by the Philippine Society of International Law Thursday. “We are a small country but we plan to win big on this litigation,” he said. The Philippines is protesting the nine-dash line claim of China that covers nearly the entire South China Sea including parts of the country’s 200 nautical mile exclusive economic zone (EEZ). Under the UNCLOS, a country is entitled to a 200 nautical mile EEZ from the coastline where it has the sole right to exploit the maritime resources within. Former University of the Philippines (UP) College of Law dean Merlin Magallona said in the forum that China’s interpretation of UNCLOS was wrong and that is the reason for the Philippines seeking arbitration before the UN. “The Philippines’ basis is telling China that you are wrong Read More …
Feb 272014
The International Tribunal for the Law of the Sea, which the Philippines has asked to resolve a territorial dispute with China in the West Philippine Sea, may release its final ruling on the case next year, the chief state lawyer disclosed on Thursday. “The decision on the case may be rendered in the next two years, probably, by the end of 2015,” Solicitor General Francis Jardeleza said at a roundtable discussion on the arbitration over the West Philippine Sea at the University of the Philippines College of Law. “The Philippines is very confident that we can convince the court. We feel that we have strong and just legal claims,” he said. However the ITLOS rules on the case, its decision is final and can no longer be appealed. The Philippines early last year sought arbitration under the UN Convention on the Law of the Sea (UNCLOS) on its assertion that China’s nine-dash line claim was illegal. The nine-dash line covers about 80 percent of the South China Sea, including sections that Manila calls the West Philippine Sea. The Philippines claims that Panatag Shoal, also referred to as Scarborough Shoal, is within its exclusive economic zone, which extends 200 nautical miles from its coast. Jardeleza pointed out that Panatag Shoal, also called Bajo de Masincloc, is less than 200 nautical miles from Zambales, while China’s Hainan Island is about 600 nautical miles away. The South China Sea is believed to have resource-rich waters and is an important maritime route. Apart from Read More …
Feb 272014
By Matikas SantosINQUIRER.net 7:49 pm | Thursday, February 27th, 2014 This undated handout photo taken by the Philippine Navy and released April 11, 2012, by the Department of Foreign Affairs shows Chinese surveillance ships off Panatag (Scarborough) Shoal. AFP FILE PHOTO MANILA, Philippines – China’s use of water cannon against Filipino fishermen in a disputed shoal strengthens the Philippines case before the United Nations (UN) Permanent Court of Arbitration, Solicitor General Francis Jardeleza said in a forum Thursday. “Harassment is not fair, it’s not valid and it is illegal,” Jardeleza said before a forum of the UP College of Law’s Philippine Society of International Law (PSIL). “If it is declared to be illegal … because it is within our 200 nautical mile exclusive economic zone [then] definitely it’s going to help our case,” he said. Jardeleza is the head of the Philippine legal team that brought the case to the international court. Chinese Coast Guard (CCG) reportedly drove away Filipino fishermen from the disputed Bajo de Masinloc, also known as the Panatag shoal or Scarborough shoal, last January 27 using water cannons. Under the United Nations Convention on the Law of the Sea (UNCLOS), a country has a 200 nautical mile (370 kilometer) exclusive economic zone (EEZ) where it has the sole right to exploit the maritime resources within. Bajo de Masinloc is 120 nautical miles (222 kilometers) away from the coast of Zambales province and 350 nautical miles (650 kilometers) away from China’s southernmost province of Hainan. Jardeleza said that the main point of their arbitration case is that China’s claim is beyond Read More …
Feb 262014
OVERALL passenger traffic at Philippine airports barely grew last year and saw mixed results in domestic and international passenger volume, data from the air service regulator showed.
Feb 262014
THE CONTROVERSIAL truck ban by the City of Manila is said to be hampering the operations of exporters in Philippine Economic Zone Authority (PEZA) zones and could lead to layoffs.