January 2015 – Page 16

Malacañang wishes MJ Lastimosa luck in Miss Universe pageant

News

Jan 242015

Malacañang wishes MJ Lastimosa luck in Miss Universe pageant

popular I have a dream France quietly buries terrorist gunman who killed 5 in Paris Beermen, Aces still in hunt for ‘suitable’ imports The nearness of Pico de Loro PH to boost maritime awareness with $40M from US Stardom, the 2nd time around Will MJ Lastimosa’s ‘transformation’ win her the crown? Alphaland: ’Twas Mercado who demanded kickbacks videos Kristel Mae Padasas given highest police honor Sandigan acquits Joey Marquez in graft rap Binay used Boy Scout land deal to fund 2010 poll campaign—Mercado Pag-IBIG exec denies Binay muscled way to get contract for security agency San Miguel Coach Leo Austria answers questions after the Beermen won PBA Philippine Cup 2015 Miss Universe Philippines Mary Jean Lastimosa poses for photographs in Miami on Jan. 8. MANILA, Philippines—The whole Philippines is behind Miss Universe Philippines Mary Jean “MJ” Lastimosa as she competes against 88 women from all over the world for the coveted Miss Universe 2015 crown. Malacañang on Saturday wished Lastimosa good luck as she represents the country in the 63rd Miss Universe pageant on Sunday, Jan. 25 (Monday morning in the Philippines), at Florida International University in Doral City. “There’s a lot of excitement building up to the competition and truly we wish her luck,” deputy presidential spokesperson Abigail Valte said on state-run radio dzRB. Since 2010, the Philippines has consistently placed in the Top 5 of the tilt—Ariella Arida, 3rd runner-up in 2013; Janine Tugonon, 1st runner-up in 2012; Shamcey Supsup, 3rd runner-up in 2011; and Venus Raj was 4th Read More …

So crushes Croatian grandmaster, stays half-point behind Carlsen

News

Jan 242015

So crushes Croatian grandmaster, stays half-point behind Carlsen

Wesley So (left) plays white against Ivan Saric of Croatia in the Tata Steel chess tournament in Wijk ann Zee, the Netherlands. CHESSDOM.COM PHOTO LAS VEGAS, Nevada — Wesley So crushed Ivan Saric of Croatia in the 11th round and crept closer to the top of the standings of the Tata Steel chess super-tournament in Wijk ann Zee, the Netherlands. The 21-year-old So took out the Croatian grandmaster in only 26 moves of a Ruy Lopez to grab solo second with 7.5 points, only half a point behind the tournament leader, world champion Magnus Carlsen of Norway. “Anything is possible,” said the Bacoor, Cavite-born So, now playing under the US flag, in a post game interview. “Having the opportunity to win the tournament is simply amazing. It’s something I could not envision before the tournament.” It was So’s fourth win against seven draws to remain as the only player in the 14-man tournament without a loss. The victory also pushed up So’s live rating — daily updates of the chess ratings of top world chess players, usually updated within a game in a top tournament, and based on official FIDE ratings — to 2788 points. That also pushed So as the top US player, 12 points better than the erstwhile highest-rated player, Hikaru Nakamura. Although no official records are kept, close followers of So’s career said it was the 54th straight game, dating back to the fourth round of the 2014 Bill Wright Saint Louis Open that So has not Read More …

Dry run for Apec

News

Jan 232015

popular I have a dream France quietly buries terrorist gunman who killed 5 in Paris Beermen, Aces still in hunt for ‘suitable’ imports The nearness of Pico de Loro PH to boost maritime awareness with $40M from US Stardom, the 2nd time around Will MJ Lastimosa’s ‘transformation’ win her the crown? Alphaland: ’Twas Mercado who demanded kickbacks videos Kristel Mae Padasas given highest police honor Sandigan acquits Joey Marquez in graft rap Binay used Boy Scout land deal to fund 2010 poll campaign—Mercado Pag-IBIG exec denies Binay muscled way to get contract for security agency San Miguel Coach Leo Austria answers questions after the Beermen won PBA Philippine Cup 2015 MANILA, Philippines—The Department of Foreign Affairs (DFA) on Friday said the recent visit of Pope Francis and the successful implementation of the papal security plan by the government became a “dry run” for the ongoing security preparations for the Asia-Pacific Economic Cooperation summit in November. “The visit of the Pope helped,” DFA spokesperson Charles Jose said when asked if the Pontiff’s recent visit affected the security preparations for the international summit. “It’s been said that we had a dry run [with the Pope’s visit] and it was shown that we are really capable of ensuring the security of [the Pope],” Jose told a press briefing at Malacañang. Get Inquirer updates while on the go, add us on these chat apps: Tags: Charles Jose Department of Foreign Affairs DFA Pope Francis Related Stories: Australia investigates ‘paedophile’ father in Thai baby scandal Read More …

Death of Saudi king unsettles oil market, prices waver

Economy

Jan 232015

Death of Saudi king unsettles oil market, prices waver

NEW YORK — Oil prices rose initially on news of the death of Saudi Arabia’s powerful King Abdullah, but the increase was moderate and short-lived. The king’s death is unlikely to lead to a change in the kingdom’s immense crude production or change the course of oil prices in the coming months, analysts say. The benchmark U.S. crude futures contract rose more than $2 a barrel in the hours after the king’s death was announced Thursday evening in New York. But by the time commodity markets opened Friday those gains had been largely erased. In morning trading, U.S. oil was up 18 cents to $46.49 a barrel. Brent crude, an international benchmark, was up 80 cents to $49.32 a barrel in London. The small rise reflects added uncertainty about Saudi oil policy because the country’s new absolute monarch, Abdullah’s 79-year-old half brother Prince Salman, is in poor health. “It is necessary to stay watchful about Saudi politics,” said Oh Jeong-seok, head of commodity markets at state-run Korea Center for International Finance. “As he is nearly 80 years old and his health isn’t in good condition, that itself is uncertain. The price of oil goes up when there is an uncertainty.” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Still, the months-long slump in oil prices that is providing a boost to the stumbling world economy is unlikely to reverse unless Saudi Arabia cuts production or world demand starts strengthening again. Some analysts think Saudi production won’t be lowered anytime Read More …

New king veteran of Saudi leadership, diplomacy

News

Jan 232015

New king veteran of Saudi leadership, diplomacy

In this Jan. 6, 2015, file image released by the Saudi Press Agency, Crown Prince Salman gestures during a session at the Shura Council. On early Friday, Jan. 23, 2015, Saudi state TV reported King Abdullah died at the age of 90. Saudi Arabia’s new king, Salman, is a veteran of the country’s top leadership. AP DUBAI, United Arab Emirates—Saudi Arabia’s new king, Salman bin Abdul-Aziz Al Saud, is a veteran of the country’s top leadership, versed in diplomacy from nearly 50 years as the governor of the capital Riyadh and known as a mediator of disputes within the sprawling royal family. Salman, 79, had increasingly taken on the duties of the king over the past year as his ailing predecessor and half-brother, Abdullah, became more incapacitated. Abdullah died before dawn on Friday at 90 years old. Salman had served as defense minister since 2011 and so was head of the military as Saudi Arabia joined the United States and other Arab countries in carrying out air strikes in Syria in 2014 against the Islamic State, the Sunni militant group that the kingdom began to see as a threat to its own stability. He takes the helm at a time when the ultraconservative Muslim kingdom and oil powerhouse is trying to navigate social pressures from a burgeoning youth population—more than half the population of 20 million is under 25—seeking jobs and increasingly testing boundaries of speech on the Internet, where criticism of the royal family is rife. Another aging ruler Read More …

Saudi king hailed PH true friend

General

Jan 232015

KING’S BURIAL An image grab taken from Saudi state TV on Friday shows Saudi mourners carrying the body of their late King Abdullah bin Abdul Aziz during his funeral procession at Imam Turki Bin Abdullah Grand Mosque in Riyadh. AFP/SAUDI TV The Philippines on Friday extended its condolences and sympathies to Saudi Arabia over the death of King Abdullah, whom Philippine officials described as a “courageous, generous and visionary leader.” A true friend of the Philippines, he was the first Saudi king who contributed his own money to save an overseas Filipino worker. Abdullah, son of King Abdul-Aziz Al Saud, the founder of Saudi Arabia, died in a hospital early Friday at age 90. The royal court did not disclose the exact cause of death, but an announcement quoted by the official Saudi Press Agency said the king had a lung infection when he was admitted on Dec. 31 to a Riyadh hospital. The king was buried in Riyadh on Friday afternoon. Philippine officials said King Abdullah worked to improve conditions for Filipino migrant workers in Saudi Arabia. Hundreds of thousands of Filipinos work in Saudi Arabia, fleeing high rates of poverty and joblessness at home to look for better job opportunities. “The King’s receptiveness to the concerns of the Filipino government helped to improve the welfare and prospects of our countrymen in Saudi Arabia,” deputy presidential spokesperson Abigail Valte told reporters in Malacañang. Pardoning condemned OFWs Valte cited Abdullah’s pardoning of condemned Filipino prisoners and agreeing on a standard Read More …

ICTSI unit raises $300M from perpetual bond issue

General

Jan 232015

ICTSI unit raises $300M from perpetual bond issue

popular . Fil-Am vet gets Purple Heart after 70 years Thai ex-premier Yingluck impeached, faces criminal charges Mercado’s claim that Binay got kickbacks from BSP-Alphaland deal ‘pure hearsay’ Prince Andrew denies claims he had sex with underage girl More cops complain on Facebook about unpaid allowances BIR files tax evasion case vs alleged Binay dummy Antonio Tiu Fiba to inspect PH venues for 2019 World Cup bid SC junks disqualification case vs Mayor Estrada by 11-3 vote videos Kristel Mae Padasas given highest police honor Sandigan acquits Joey Marquez in graft rap Binay used Boy Scout land deal to fund 2010 poll campaign—Mercado Pag-IBIG exec denies Binay muscled way to get contract for security agency San Miguel Coach Leo Austria answers questions after the Beermen won PBA Philippine Cup 2015 A UNIT of port operator International Container Terminal Services Inc. (ICTSI) has raised $300 million from the issuance of senior perpetual capital bonds, a hybrid equity instrument, according to a stock exchange filing on Friday.The complex transaction, through ICTSI subsidiary Royal Capital B.V. and mainly offered to investors in Asia, was aimed at managing ICTSI’s liabilities.Specifically, it would extend the call option on ICTSI’s perpetual bonds while allowing the company to tap further savings on its obligations, ICTSI vice president and treasurer Rafael Consing Jr. said in an interview Friday.The new offer was priced at a yield of 6.375 percent on Thursday night, ICTSI said. It was linked to a recently concluded tender offer for $350 million subordinated guaranteed perpetual Read More …

More participants sign up for ILP

Economy

Jan 232015

MANILA, Philippines – Power utility giant Manila Electric Co. (Meralco), and the Department of Energy (DOE) continue to draw in more participants for the Interruptible Load Program (ILP) which would help ease projected blackouts this summer. As of Jan. 20, total committed capacity under the ILP has reached 685.07 megawatts from customers of Meralco and contestable customers or those with a monthly electricity demand of at least one megawatt and who can source their power supply from retail electricity suppliers. Of the 685.07 MW, 224.22 MW are from Meralco customers and 460.85 MW are from contestable customers. Meralco is still eyeing potential commitments of 233.30 MW from its customers and contestable customers. The latest figure, however, is still below the 1,000-MW target but the DOE and Meralco continue to talk to more potential participants. Under the ILP scheme, big power users will be asked to run their own generators when supply is short in the summer months, instead of getting their power from the Luzon grid. In exchange, they will be compensated for their fuel costs. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The electricity that would not be taken from the grid would be available to households and other users, sparing them from rotating blackouts. There is a projected power supply shortage this summer of at least 700 MW due to higher demand during the hot months. The three largest participants in the ILP are SM Prime Holdings Inc., the mall development arm of the SM Group Read More …

MAILBOX: Come clean

Economy

Jan 232015

Gentlemen: Cruz Marcelo and Tenefrancia (CMT) previously wrote a letter dated Dec. 16, 2014 bringing to your attention the one-sided and libelous articles of Victor C. Agustin (Agustin). CMT pointed out that Agustin has singled out CMT for libelous attacks to favor Atty. Arthur Villaraza (Villaraza) and his law firm Villaraza and Angangco (VAT). It was likewise pointed out that Agustin readily wrote what was fed him without verifying the facts nor seeking the side of CMT. These were not denied by Agustin. On Jan. 9, 13, 20, 2015, another series of libelous and false articles against CMT were written by Agustin. In his recent libelous attacks, Agustin callously failed to see that due to the reckless acts of disconnecting utilities without due notice to floors occupied by CMT in CVCLAW Center, the lives of all building occupants, including the employees of VA, were put in grave danger. Consequently, upon inspecting the building, Taguig City building officials warned that if orders to restore utilities and elevator service to said floors were not complied with, the “revocation or invalidation” of the certificate of occupancy of the building could follow and further administrative sanctions would be imposed. Also upon inspection, the Bureau of Fire Protection (BFP) warned that unless utilities are restored, it may cause your Fire Safety Inspection Certificate (FSIC) and other ancillary clearances issued by this office to become null and void.” The treacherous attack clearly backfired as it put the entire building in danger of a lockdown as well Read More …

Banks set tighter standards for household borrowers

General

Jan 232015

Banks set tighter standards for household borrowers

MANILA, Philippines – Local banks tightened their credit rules for household borrowers in the fourth quarter, according to a survey by the Bangko Sentral ng Pilipinas (BSP). “The DI (diffusion index) approach… indicated a net tightening of overall credit standards for household loans owing largely to perceived stricter financial system regulations,” according to the latest Senior Loan Officers Survey. “In particular, banks’ responses indicated reduced credit line sizes for auto loans and wider loan margins for personal and salary loans,” the BSP said. Household loans pertain to finance auto loans, credit card loans, personal or salary loans, and housing loans. A diffusion index of 14.3 percent was recorded for the fourth quarter, higher than the 9.5 percent in the third quarter, the BSP survey showed. This is the fifth consecutive quarter the index showed a net tightening for credit standards for household loans. The diffusion index approach measures the proportion of banks that tightened credit standards versus those that eased them. A positive index means more banks tightened their standards, while a negative one shows there were that loosened them. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Most of the respondent banks foresee maintaining their credit standards over the next quarter,” the BSP said. “However, some banks expect overall credit standards to tighten slightly due to expectations of continued strict financial system regulations and banks’ reduced tolerance for risk, among others,” the central bank added. On the other hand, banks maintained their credit standards for enterprises in the Read More …

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