June 2014 – Page 9

Tourist arrivals up 3% in 5 months

Economy

Jun 262014

MANILA, Philippines – Foreign tourist arrivals from January to May this year increased three percent to more than two million, according to the Department of Tourism (DOT). DOT Undersecretary Daniel Corpuz said Korea remained the biggest market as it cornered a huge chunk of arrivals. The release of the foreign arrival data was delayed by about three weeks after the Bureau of Immigration came up with a new set of rules on the issuance of immigration cards. As part of efforts to facilitate faster immigration processes at Philippine airports, the government last March ruled that all arriving Filipinos no longer have to fill out the new immigration arrival cards. Foreigners, including Philippine passport holders with existing immigrant status, on the other hand, will be required to fill out the new arrival cards. Corpuz said the BI would be coming up with revised rules which will define the “immigrant status” so as to properly account Filipinos who are Philippine passport holders but have not been living in the country for a long period of time. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The Bureau of Immigration would require Filipino resident aliens residing outside the country for a long time to fill out the disembarkation card,” he said. He said they have coordinated with the BI for the smooth implementation of the more defined rules. “BI may issue a circular addressed to all consulates around the world. The changes may also be announced by airlines onboard the planes and put Read More …

DOTC to award LRT-1 extension proj in 2 weeks

Economy

Jun 262014

DOTC to award LRT-1 extension proj in 2 weeks

MANILA, Philippines – The tandem of infrastructure giant Metro Pacific Investments Corp. (MPIC) and conglomerate Ayala Corp. would have to wait for two more weeks before getting the green light for the P65 billion Light Rail Transit Line 1 (LRT1) Cavite extension project. Transportation Secretary Joseph Emilio Abaya said the joint bids and awards committee (BAC) of the Department of Transportation and Communications (DOTC) and the Light Rail Transit Authority (LRTA) are now negotiating with the Light Rail Manila Consortium. “In two weeks we expect to make an award. We are in the process of negotiating with the lone bidder,” Abaya said. He pointed out that the government would try to convince the Light Rail Manila Consortium to further improve its P9.35-billion premium payment to the government for the public private partnership (PPP) project under the Build Operate Transfer (BOT) law or Republic Act 7718. “We are mandated to negotiate,” Abaya explained. The National Economic and Development Authority (NEDA) earlier approved the offer made by the Light Rail Manila Consortium. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We haven’t awarded yet,” Abaya clarified. The lead member of the group is MPIC Light Rail Corp. with 55 percent while other members include Ayala Corp.’s AC Infrastructure Holdings Corp. with 35 percent and Macquaire Infrastructure Holdings (Philippines) Pte Ltd. with 10 percent. Other bidders including diversified conglomerate San Miguel Corp. (SMC) through SMC Infra Resources Inc., construction giant DMCI Holdings Inc., Filipino-owned Megawide Construction Corp., Spanish-owned Globalvia Inversiones SAU, Eco Read More …

Consumer loans rise 13.6% in Q1

Economy

Jun 262014

MANILA, Philippines – Consumer loans extended by local banks climbed 13.6 percent in the first quarter as more households borrowed for the purchase of cars and real estate, data from the Bangko Sentral ng Pilipinas showed. Loans extended to individuals and families or those for household expenses amounted to P735.102 billion as of end-March, higher than the P647.062 billion recorded in the same period last year. Central bank data revealed consumer loans during the period made up 15.6 percent of banks’ total loan portfolio net of interbank loans. The increase was due to the continuous rise in auto loans, credit card receivables, and borrowings made for real estate. Auto loans went up 16.3 percent to P194.373 billion in the first quarter from P167.193 billion in the same period last year, while credit card receivables increased by 6.8 percent to P153.396 billion from P143.684 billion. Residential real estate loans also rose 10 percent to P326.917 billion from P279.311 billion, while other consumer loans grew 6.2 percent to P60.417 billion from P56.874 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 BSP data showed non-performing consumer loans summed up to P38.209 billion in the first quarter, comprising 5.2 percent of the total consumer loans portfolio. Loan loss reserves for consumer loans for the period reached P26.939 billion, the central bank also disclosed. The continuous rise in consumer loans has supported domestic consumption, which has remained as the major driver of the Philippine economy. The BSP monitors credit and liquidity conditions to Read More …

NTC stops 2 firms from sending spam

Economy

Jun 262014

MANILA, Philippines – The National Telecommunications Commission (NTC) ordered two companies to immediately stop sending annoying spam messages to the subscribers of Ayala-led Globe Telecom Inc. NTC has issued show-cause orders against Caritas Health Shield Inc. and Center for Global Best Practices due to separate complaints filed by Globe. Globe stated in the complaints that the agents and employees of the two companies are involved in sending unsolicited promotional text messages to its mobile customers. The legal action taken by the telecommunications provider against Caritas and CGBP is in line with the telco company’s intensified campaign to combat text spam, prompted by constant customer service complaints on the issue. The order is expected to provide respite to Globe consumers who constantly receive annoying spam messages. Globe specifically asked the regulatory body to order Caritas, a health insurance company, and CGBP, which offers various training and seminar courses, the payment of appropriate fines and penalties for sending annoying text spam to Globe subscribers. Globe also asked the NTC to permanently bar Caritas and CGBP, its agents and employees from sending spam texts to Globe customers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The regulatory body also ordered the two companies to appear before the commission on July 15 and to explain in writing within 15 days from receipt of the order why it should not be administratively sanctioned for such violation. Globe general counsel Froilan Castelo said the NTC directive should provide some breathing space for Globe customers who Read More …

Palace moves to resolve legal issues on MPIC connector road

Economy

Jun 262014

Palace moves to resolve legal issues on MPIC connector road

MANILA, Philippines – Malacanang has directed the Department of Transportation and Communications (DOTC) to immediately resolve the legal hurdles hindering the construction of the P18 billion “connector road” by infrastructure giant Metro Pacific Investments Corp. (MPIC). Transportation Secretary Joseph Emilio Abaya yesterday met with Justice Secretary Leila de Lima in Malacañang to address the legal issues delaying the approval of the road that would connect the North Luzon Expressway (NLEX) and South Luzon Expressway (SLEX). “The President called us all together to resolve the issues. We have to do that because at the end of the day its Presidential approval. We have to protect the President by making sure what we are recommending is legally sound,” Abaya said. A certain lawyer in February questioned before the Department of Justice (DOJ) whether the connector road would be built under the PNCC franchise or would be subjected to a Swiss challenge. Abaya explained that the complainant questioned the shift of the mode of the project from an unsolicited proposal to a Swiss challenge and then to a JV with PNCC. “So those are the legal questions that we passed on to the DOJ,” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The DOTC chief is hopeful that the legal issues could be resolved soon. “So we will see. We hope there is a clear legal solution to it. I am really interested in getting this implemented,” he said. The project would connect NLEX and SLEX via Segment 9 worth Read More …

Asia shares rebound after Wall St. rally

General

Jun 262014

Asia shares rebound after Wall St. rally

People walk by an electronic stock board of a securities firm in Tokyo on June 19, 2014. Asian markets climbed Thursday, June 26, boosted by bargain hunting and a positive lead from Wall Street that came despite a worse-than-expected first-quarter contraction in the US economy. AP PHOTO/KOJI SASAHARA HONG KONG–Asian markets climbed Thursday, boosted by bargain hunting and a positive lead from Wall Street that came despite a worse-than-expected first-quarter contraction in the US economy. Tokyo rose 0.27 percent, or 41.88 points, to 15,308.49, Sydney jumped 1.15 percent, or 62.29 points, to 5464.3 and Seoul added 0.67 percent, or 13.28 points, at 1,995.05. Shanghai ended 0.65 percent, or 13.18 points, higher at 2,038.68 and Hong Kong rallied 1.45 percent, or 331.13 points, to 23,197.83. With little to drive business, investors picked up cheap stocks after Wednesday’s sell-off, with sentiment buoyed by a batch of healthy data this week, including Chinese manufacturing and US homes sales and consumer confidence. In the United States, the Commerce Department said the world’s No. 1 economy shrank a steep 2.9 percent in the first three months of 2014, sharply worse than the previous estimate of 1.0 percent. The figure is the worst since the height of the global financial crisis five years ago. But it was widely brushed off by economists, who described it as a blip caused by the severe winter at the start of the year which hammered, among other things, jobs growth and retail sales. Most expect a strong rebound over the Read More …

Angel on Luis: ‘Napakaswerte ko’

Entertainment

Jun 262014

Angel Locsin and Luis Manzano (MNS Photo) On top of the massive success of her just-concluded series “The Legal Wife,” Angel Locsin is feeling lucky these days when it comes to her relationship with Luis Manzano. Despite having little time to spend with Manzano due to their respective work schedules, Locsin is thankful that the TV host understands the demands of being an actress, with some taping days ending early in the morning. “Napakaswerte ko talaga. Nagpapasalamat ako na gano’n ‘yung boyfriend ko, kasi hindi naman lahat nakakaintindi sa trabaho namin,” Locsin said. “Ang haba ng oras ng taping namin, tapos hindi kami nagkikita masyado. So napakaswerte ko lang na pinapahalagahan niya ‘yung trabaho na minamahal ko.” “At naiintindihan niya din naman dahil same business naman kami, dahil gano’n din naman ang mommy at daddy niya, ‘di ba,” Locsin added, referring to Manzano’s parents, Vilma Santos and Edu Manzano. Throughout the four-month run of “The Legal Wife,” Manzano has also been vocal of his support of the series, which aired its final episode last June 13. “Napaka-supportive niya at proud na proud siya lalo na pag meron akong magagandang eksena na napakita, kaya napakaswerte ko talaga,” Locsin said. Fresh from the success of “The Legal Wife,” Locsin is taking up another TV project, this time as an acting coach on “Promil Pre-School i-Shine Talent Camp 3,” which will premiere on June 28. Already, Manzano has expressed his support for Locsin on the stint. “Ang sarap ng pakiramdam pag proud sa Read More …

Contrasting honors heaped on Anaheim

Entertainment

Jun 262014

First, the good news: The City of Anaheim, place of choice of more than 346, 000 residents, one of the most populous cities in California and home to the world famous Disneyland Resort, has been named as “2014 Playful City in the U.S.A because of its commitment to providing places and opportunities for children’s year-round balance and active play”. The sad news, and a real dampener which many find Anaheimers hard to believe, is that their beloved city has been ranked 9th in the list “Unfriendliest Cities in the U.S.” according to a survey of Conde Naste Traveler Reader notwithstanding its 20 million tourists who visit the world class offerings and the reported record-breaking high hotel occupancies. Asian Achiever: Orange County’s Asian-Pacific Islanders achievers in various fields were recognized for their contributions to the community at the awards ceremonies highlighting the celebration of the Asian Pacific Islanders Heritage Month at the South Coast Plaza Shopping Mall recently. The event was organized by Pacific Trade and Culture Alliance in cooperation with their business and professional organizations in the county and had become a showcase for the colorful and artistic heritage of Asian culture. The city elders, led by Mayor Tom Tait, brushed off the label with the honor heaped on the City as a “Playful City” which recognized its effort to“strive to continue to create and maintain a vibrant park system consisting of well-maintained parks which provide safe, challenging recreational opportunities that feature playgrounds with exciting play opportunities”. Anaheim joined 212 other Read More …

AFP says 2-mile run for soldiers ‘life-threatening’

Entertainment

Jun 262014

AFP says 2-mile run for soldiers ‘life-threatening’

Soldiers march during an Armed Forces of the Philippines (AFP) change of command ceremony at Camp Aguinaldo military headquarters in Quezon city, Metro Manila back in January 2013. Senior officers said a two-mile run could be “life-threatening” to troops, and have shortened a fitness test to compensate after three officers have collapsed and died doing the fitness tests since 2010. (MNS photo) MANILA (AFP) – Most armies pride themselves on pushing soldiers to their physical limits in preparation for combat. But in the Philippines, senior officers have decided a two-mile run could be “life-threatening” to troops, and have shortened a fitness test to compensate. The timed run forms a key part of the twice-yearly fitness examination for all soldiers, but from next month the apparently deadly distance will be reduced to a safer two kilometers, military spokesman Lieutenant-Colonel Ramon Zagala said. The change was instituted as three officers have collapsed and died doing the fitness tests since 2010, according to a military commissioned health study that recommended the shorter runs, according to Zagala. “The technical working group found out that after two kilometers they (soldiers) can fall victim to heart attack or stroke,” he said. One of those who died was a marine officer who ran the old distance in 16 minutes, Zagala said. All the time limits are determined by the troops’ ages, with the youngest soldiers required to run the two kilometers within 12 minutes, according to Zagala. Officers who fail the test will not be given command Read More …

House holds hearing on denied WWII Fil-Am vets’s benefits

Entertainment

Jun 262014

House holds hearing on denied WWII Fil-Am vets’s benefits

97-year-old Filipino World War II Veteran Celestino Almeda (left) was among those who testified in the hearing chaired by Congressman Joe Heck, who respresents Nevada’s Third Congressional District in the House of Representatives WASHINGTON – Congressman Joe Heck held his first official hearing as House Armed Services Oversight and Investigations Subcommittee Chairman. The hearing, entitled “Filipino Veterans Equity Compensation Fund: Examining the Department of Defense and Interagency Process for Verifying Eligibility,” provided Rep. Heck and a bipartisan group of subcommittee members the opportunity to question witnesses from the Department of the Army, Department of Veterans Affairs, and National Archives and Records Administration, the main agencies with jurisdiction over the Filipino Veterans Equity Compensation Fund. In his opening remarks, Rep. Heck talked about the heroic service of Filipino soldiers in World War II and described the plight of The Mighty Five, a group of Filipino-American World War II veterans who reside in Las Vegas and have been denied full recognition of their service. Congressman Heck has worked on the recognition of Filipino-American veterans since coming to Congress in 2011. He has twice introduced legislation to “direct the Secretary of Veterans Affairs to accept certain documents as proof of service in determining the eligibility of an individual to receive amounts from the Filipino Veterans Equity Compensation Fund.” 97-year-old Filipino World War II Veteran Celestino Almeda (left) was among those who testified in the hearing chaired by Congressman Joe Heck, who respresents Nevada’s Third Congressional District in the House of Representatives On February 18, 1946, Read More …

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