Apr 052014
 
Arroyo spends third birthday under hospital arrest

Pampanga Representative Gloria Macapagal-Arroyo celebrated her 67th birthday with more than 50 guests at the Veteran’s Memorial Medical Center in Quezon City on Saturday. The former president’s guests–who were approved by the Philippine National Police–consisted of family, friends and political allies, including her former Cabinet members. This marks her third birthday celebration in the medical institution since she was placed under hospital arrest in 2012. Although Arroyo’s petition for a furlough to celebrate her birthday in her hometown in Lubao, Pampanga was junked by the Sandiganbayan, the court allowed extended visiting hours on April 4 and 6. Members of her extended family were also allowed to sleep over during the weekend. Meanwhile, her former office, the Malacañan, wished her the best through Communications Operations Office Secretary Herminio Coloma, Jr.  “We want to greet her a happy birthday, and we hope that she will be happy celebrating it, along with her loved ones,” Coloma said during a press briefing. Arroyo, who is suffering from recurrent dysphagia or problems in swallowing, is under hospital arrest over plunder charges. She was first placed under hospital arrest in late 2011 over a separate electoral sabotage case. — Andrei Medina/JDS, GMA News

Apr 052014
 
AFP: Naval blockade in place vs. Sabah abductors

The Armed Forces of the Philippines on Saturday said a Philippine Navy unit has set up naval blockade against suspects in the abduction of a Filipina worker and a Chinese tourist at the Singamata resort near Semporna in Sabah on Wednesday. In a text message to GMA News Online, AFP spokesman Lt. Col. Ramon Zagala said the Naval Task Force 62 has started its operations, even as units of the military’s Western Mindanao Command continue their search and rescue operations in the Basilan, Sulu, and Tawi-Tawi areas, “where the two kidnapped victims were supposedly brought by kidnappers from Sabah.” In Malacañang, deputy presidential spokesperson Abigail Valte said on state-run dzRB the AFP is also in contact with the Philippine National Police to help in the search. “So far, [may] combined efforts ng AFP at saka ng PNP… sa pag-recover at paghahanap doon sa dalawang kidnap victims,” she said. Asked if the government is set to coordinate with Chinese authorities in the search, Valte said: “I’ve not heard of any proposal to do that, at this time.” A report from Agence France-Presse on Friday indicated China is pressuring Malaysia to rescuekidnapped Chinese tourist. Earlier, Zagala said the Abu Sayyaf Group may be behind the abduction. He said the victims were kidnapped by seven armed men believed to be members of an Abu Sayyaf Group (ASG) unit in Tawi-Tawi. One of the members of the unit is Murphy Ambang Ladia (also known as Haji Gulam), a former member of the Moro National Read More …

Apr 052014
 
Palace backs Miriam Santiago meeting with GPH panel chair on Bangsamoro peace deal

Malacañang on Saturday expressed support on government peace panel chair Miriam Coronel-Ferrer’s decision to meet with Senator Miriam Defensor-Santiago to discuss the newly-signed Comprehensive Agreement on the Bangsamoro. “Mabuti po ‘yon kasi maganda din po na nagkaroon sila ng ganitong exchange because the government is always open to explain [the] contents of the agreement,” she said in an interview on state-run dzRB radio. “Hopefully, matuloy po ‘yung pag-uusap ni Senator Santiago at ni Ma’am [Miriam Coronel-]Ferrer para mapakita kung ano ho ‘yung mga proseso at ano ho ‘yung annexes, ‘yung mga nilalaman nung Comprehensive Agreement on the Bangsamoro [CAB],” she added. Asked to comment on Santiago’s claim that the historic peace agreement is unconstitutional, Valte said: “Should there be a challenge to it in the Supreme Court, siyempre, lahat po tayo ay umaasa na maa-uphold po ‘yung constitutionality nung CAB.” Earlier, Senator Santiago said the peace agreement between the government and the Moro Islamic Liberation Front on the Bangsamoro violates the 1987 Constitution because it creates a “substate.” Senator Santiago chairs the Senate committee on constitutional amendments. “The Bangsamoro Agreement appear(s) to facilitate the secession of the Bangsamoro from our country, in a manner similar to the secession of Kosovo and Crimea,” Santiago told graduates of the Gordon College on Wednesday. Last week, the Philippine government and the MILF signed a comprehensive peace pact that is expected to end the decades-long armed conflict in Mindanao. However, government peace negotiators have insisted the peace agreement with the MILF was done in Read More …

Apr 042014
 
PLDT chief sees better revenues

MANILA, Philippines – Dominant carrier Philippine Long Distance Telephone Co. (PLDT) recorded higher revenues in the first quarter of the year amid the country’s growing domestic output as measured by the gross domestic product (GDP). PLDT chairman Manuel V. Pangilinan said the company’s revenues from January to March this year was better compared to the same period last year.  “Better than last year. It should be better than last year,” Pangilinan replied when asked about the company’s revenues in the first quarter of the year. He added that the higher revenues would also translate to a better bottomline for PLDT in the first quarter of the year. PLDT’s consolidated revenues remained steady at around P40 billion in the first quarter of last year while its net income fell eight percent to P9.2 billion after it booked a P900-million reduction in its net foreign exchange and derivative gains due to stronger peso. PLDT is back on the growth track as the company finally booked a five-percent increase in core net income to P38.7 billion last year from P36.9 billion in 2012. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The PLDT Group’s service revenues increased three percent to P164.1 billion last year from P159.7 billion as its wireless revenues grew three percent to P116.7 billion while its fixed line business expanded by five percent to P61.9 billion. On the other hand, PLDT’s reported net income slipped two percent to P35.4 billion last year from P36.1 billion due to higher foreign Read More …

Apr 042014
 
Belle earnings breach P3 B as casino revenues stream in

MANILA, Philippines – Belle Corp., the gaming arm and upscale leisure developer of the SM Group, breached the P3-billion income mark last year as rental revenues from its new integrated casino project streamed in. In a regulatory filing, Belle said its consolidated net income surged more than six times to P3.63 billion last year from P555.66 million in 2012. “This was achieved due to significantly higher revenues and a day one gain on finance lease accounting of P2.34 million,” the company said. It also recorded a P772.2-million gain from the swap of 809 million Highlands Prime Inc. shares for 109 million SM Prime Holdings Inc. shares, the property firm said. Gross revenues grew more than five times to P2.62 billion from P494.43 million a year ago. Belle said it posted higher revenues “due to the receipt of revenues arising from the lease and operating agreements with Philippine subsidiaries of Melco Crown Entertainment Ltd. totaling P2.28 billion.” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Belle is the builder of the $1.3-billion City of Dreams Manila complex in the Manila Bay reclamation area. Macau-based casino giant Melco Crown, for its part, leases the property and will operate the integrated casino. Gross revenues from sales of real estate and club shares for 2013 of P175.3 million was lower by 46 percent compared with P323.6 million a year ago. “Gross profit from sales of real estate and club shares for 2013 of P59.9 million was also lower than the gross profit of Read More …

Apr 042014
 
NGCP says it dutifully pays franchise taxes to gov’t

MANILA, Philippines – The National Grid Corp. of the Philippines (NGCP), the country’s power grid operator, maintained that it is exempt from income tax but stressed that it dutifully pays its franchise taxes to the government. NGCP, a privately owned transmission company, said that its tax-exempt privilege is provided under Republic Act 9511, the law that granted NGCP a 50-year franchise to operate the grid. The grid operator made the clarification after the Department of Finance (DOF) published a Tax Watch print ad stating that only 39 of the top 100 corporations ranked by the Securities and Exchange Commission (SEC), the corporate regulator, landed on the Bureau of Internal Revenue’s (BIR) list of 500 top corporate/non-individual taxpayers. NGCP is in the SEC’s list of top 100 corporations, occupying the 25th spot, based on revenues. On the other hand, BIR’s list, which was based on income tax returns, did not include the grid operator. NGCP spokesperson Cynthia Perez-Alabanza said that the company pays franchise tax in lieu of income tax.  “NGCP’s franchise granted through Republic Act 9511 mandates that it pay a franchise tax equivalent to three percent of all gross receipts, ‘in lieu of income tax and any and all taxes, duties, fees and charges of any kind, nature of description levied, established or collected by any local or national authority on its franchise, rights, privileges, receipts, revenues and profits, and on properties used in connection with its franchise,” she said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Read More …