ECONOMIC TIES between the Philippines and China are expected to improve should the heightening territorial dispute over portions of the South China Sea be resolved through bilateral means, a Chinese embassy official said on Wednesday evening.
THE COUNTRY’S growth outlook remains rosy given healthy demand and supply conditions, monetary authorities noted during a policy meeting last month.
THE ASIAN Development Bank (ADB) announced yesterday that it is realigning operations to focus on poverty reduction, inclusive growth, and strengthening support for middle-income countries and the private sector.
By Norman BordadoraPhilippine Daily Inquirer 5:45 am | Friday, April 25th, 2014 MANILA, Philippines—Senate Majority Leader Alan Peter Cayetano hopes US President Barack Obama will categorically state that the United States will defend the Philippines if it is attacked by China over disputed islands in the West Philippine Sea. In an interview with Japan’s Yomiuri newspaper ahead of his departure for a four-nation tour of the Asia-Pacific region that began on Wednesday, Obama said the Senkaku Islands in the East China Sea, being administered by Japan, fell within the scope of the US-Japan Treaty of Mutual Cooperation and Security, and an attack by China on Japan over those islands would invite a reaction from the United States. Speaking at a news forum on Thursday, Cayetano said he hoped Obama, whose tour of the region also takes in the Philippines, would categorically state that the United States is likewise obligated under its Mutual Defense Treaty with the Philippines. “In the case of Japan, they made it very clear that these islands are covered by the defense treaty. So that’s what the Philippines wants and that’s what the Filipinos need, I think, at this point in time—a very clear statement from the United States through their president saying that these islands, this area, is Philippine territory,” Cayetano said, referring to Panatag Shoal (Scarborough Shoal), Ayungin Shoal (Second Thomas Shoal) and other islands in the Spratly archipelago in the West Philippine Sea, the part of the South China Sea within the Philippines’ 327-kilometer Read More …
A year later, Buddhist monk leads the rites to mark the first anniversary of 2010′s botched bus hostage drama at the Rizal Park in Manila. They are from right front row, Tse Chi Hang, Lee Mei Chun, Lin Siu Ching, Tse Chi Kin, all relatives of Masa Tse, the tour guide who was the first to be killed by the hostage-taker. AP FILE PHOTO HONG KONG—Money raised by Chinese-Filipino businessmen and businessmen in Hong Kong who have interests in the Philippines was used in the compensation package for the victims of the 2010 Manila hostage tragedy, a Manila councilman said on Thursday. Eight tourists from Hong Kong died in a botched police rescue of a busload of tourists taken hostage by a dismissed Manila policeman who also died in the incident. Seven others were injured. Binondo Councilor Bernardito Ang, who also tried to negotiate with the victims and is here with former President and current Manila Mayor Joseph Estrada, said no public funds were used for the compensation. Ang said it was Hong Kong negotiators who suggested a total amount of HK$20 million (about P115 million) but he added that he did not know if the businessmen—who formed the Hong Kong-Philippines Friendship Foundation—were able to raise that much money. Solidarity fund “It was the businessmen who organized this solidarity fund because they also want the relationship between the Philippines and Hong Kong to normalize, especially for those in the travel industry,” Ang said in an interview. “So, there is no Read More …
Britain’s Kate, the Duchess of Cambridge, as she meets with people on the steps of the Sydney Opera House following a reception in Sydney, Australia.(AP Photo/Jason Reed) LONDON — Kate’s dilemma: What to pack for a two-week trip, when your itinerary includes everything from state receptions and church services to toddler playdates and cricket games? For the Duchess of Cambridge, who’s rounding up her trip to Australia and New Zealand with husband Prince William and 8-month-old son George, there were additional sartorial challenges: Do royals take off their shoes at the beach? And what’s the most ladylike way to climb into a fighter jet while in a pencil dress and high heels? Here are the most talked-about fashion moments from Kate’s Down Under tour. ALL GROWN UP Over the past two weeks, Kate, 32, delighted fashionistas with a non-stop parade of stately suit dresses by top designers mixed with her favorite style staples: Blazers, wedges, simple court shoes and demure day frocks. Hems have crept below the knee, dresses are less figure-hugging, and sleeves also covered more of her arms. Entertainment ( Article MRec ), pagematch: 1, sectionmatch: 1 It’s a wardrobe that’s markedly more “grown up” and more regal than before, royal watchers say. There’s also much more color — bold, traffic-stopping hues — a choice that reflects her growing confidence, both as the face of a new generation of the British monarchy and as a style icon for women all over the world. Among the hits: A minimalist Read More …
This undated photo provided by the Lawndale Christian Health Center in Chicago, shows Dr. Jerry Umanos, one of three physicians killed when an Afghan security guard opened fire on a group of foreign doctors at a hospital in Kabul, Afghanistan on Thursday morning, April 24, 2014. (AP Photo/Courtesy of the Lawndale Christian Health Center, Bernardo Barrios) KABUL, Afghanistan — An Afghan government security guard opened fire Thursday on a group of foreign doctors at a Kabul hospital, killing three American physicians and wounding a U.S. nurse, officials said. The shooting at Cure International Hospital in western Kabul was the latest in a string of deadly attacks on foreign civilians in the Afghan capital. Two of the dead Americans were a father and son, Health Minister Soraya Dalil said, adding that the third American was a Cure International doctor who had worked in Kabul for seven years. Dalil said an American nurse was also wounded in the attack. Their colleagues at the hospital performed surgery on the shooter, who was wounded during the course of the attack, officials said. The attacker served in the Afghan Public Protection Force and was assigned to guard the hospital, District Police Chief Hafiz Khan said. He said the man’s motive was not yet clear. The APPF is an armed security force under Afghanistan’s Ministry of Interior that was created to protect foreign organizations that hire them. Later in the afternoon, Dalil said the shooter was recovering from the surgery before being questioned. The U.S. Embassy Read More …
MANILA, Philippines – Property firm Vista Land & Lifescapes Inc., fresh from retiring $103 million in debts, is raising more than $200 million through corporate notes. In a regulatory filing, the real estate unit of the Villar family said its subsidiary VLL International Inc. will issue $225-million senior guaranteed notes to support debt payments and expansion projects. “The company’s wholly-owned subsidiary VLL International Inc. has executed a subscription agreement with the joint bookrunners and joint lead managers DBS Bank Ltd. and The Hongkong and Shanghai Banking Corp. Ltd. for the offer, sale and issuance of notes,” Vista Land said. The five-year corporate notes will carry an interest rate of 7.45 per annum. It is guaranteed by parent firm Vista Land and subsidiaries Crown Asia Properties Inc., Camella Homes Inc., Communities Philippines Inc. and Vista Residences Inc. “The proceeds of the notes issue will be used to refinance the company’s existing indebtedness, partially finance its capital expenditures and for general corporate purposes,” Vista Land said. Vista Land allotted P21 billion for capital expenditures this year, up 22 percent from P17.2 billion in 2013. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The property firm will introduce to the market P28 billion worth of projects this year, two-thirds of which are under middle income brand Camella Homes. In 2013, the country’s largest homebuilder launched 35 projects with an estimated value of P26.1 billion, 31 of which are in the low and affordable segment. The corporate notes offering comes on the heels Read More …
MANILA, Philippines – Environmentalists welcomed Philippine Airlines’ (PAL) commitment to sustainable development in response to a petition at change.org against transport of shark fin. “The announcement of PAL is also a victory for all sharks species who are brutally murdered for their fins. PAL, being Asia’s first airline and our flag carrier, will be taking a bold step and leading in marine conservation by ceasing the transportation of shark fins,” said Anna Oposa, co-founder of Save Philippine Seas and founder of the Shark Shelter Project in Malapascua Island. She added: “This will also send a powerful message to the government and other airlines that the private sector can significantly contribute in sustainability efforts.” The statement by Oposa’s group and similar organizations also said online pressure has prompted PAL to publicly announce its commitment to sustainable development approximately 12 hours after a petition at change.org against shark fin transport was launched. According to the press release posted on the airline’s website and Facebook page on April 23, the country’s flag carrier will “formalize and strengthen a freight policy it has recently adopted to stop the shipment of shark fin in support of its overall commitment to sustainble development. The statement also mentioned circulating “a policy for immediate implementation and strict compliance across the organization.” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “PAL takes the issue on protection and conservation of endangered marine life seriously, recognizing that the company’s long-term interest is and should be consistent with sustainable and responsible Read More …
MANILA, Philippines – Diversified conglomerate San Miguel Corp. (SMC) is likely to forward to Malacañang next week a proposal to build a $10-billion airport that would replace the congested and more than three decades old Ninoy Aquino International Airport (NAIA). SMC president and chief operating officer Ramon S. Ang confirmed in a text message that the conglomerate is looking at presenting to President Aquino the proposed international gateway to be situated in an 800-hectare property in Manila on April 29. “Yes, April 29,” Ang replied in a text message when asked when the plan would be presented to President Aquino. Japanese news agency Nikkei reported last month that SMC plans to build the $10-billion international gateway that would have four runways and higher passenger capacity as against the single-runway of NAIA that is situated in a 400-hectare property in Pasay City. Nikkei also reported that the airport project would be offered to the government under a build-operate-transfer scheme wherein ownership would be turned over to the state after 25 years. SMC has a 49 percent stake in national flag carrier Philippine Airlines Inc. (PAL) together with taipan Lucio Tan who owns the other 51 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The diversified conglomerate announced plans to put up an international airport early last year and was supposed to present the plan to President Aquino in February last year. However, Ang announced in March last year that it was postponing indefinitely the presentation of the proposed international Read More …