THE ENERGY department said scheduled maintenance shutdowns of power plants this year will not automatically lead to rotating power outages.
Jan 142015
Jan 142015
FOREIGN CORPORATIONS operating through a license to do business in the Philippines are covered by the provisions of the Corporation Code. In this respect, similar to domestic corporations, they are regulated by the Securities and Exchange Commission (SEC). Among the obligations of a foreign corporation is the duty to notify the SEC of relevant changes on a timely basis, such as changes in principal office address, accounting period, current set of officers, among others.
Jan 142015
A local newspaper has reported that intelligence agents have been sent by the CIA to assess the security situation for the Manila visit of Pope Francis who is arriving at Villamor Air Base at 5:45 this afternoon. According to sources, other international intel organizations have been sharing information to identify security concerns and assess the threat level, among them Israel’s Mossad that reportedly issued a warning about possible attacks to the Vatican by the terrorist group ISIS/ISIL. Additional reports also identified the Pope as a specific target by Islamic terrorists following the pontiff’s condemnation of the shootings in Paris that resulted in the killing of journalists working for the weekly satire Charlie Hebdo. Much earlier, local papers also carried news reports that ISIS operatives have been recruiting in Mindanao, and that a hundred young Filipinos have gone to Syria and Iraq to fight for ISIS. And let’s not forget, no less than an Iraqi official had raised the possibility of an ISIS threat following the Pope’s strong condemnation of the terrorist group last year. The Vatican has denied receiving such reports or warnings from Mossad, CIA and other organizations, but we wouldn’t be surprised at the existence of such warnings considering the heightened alert across France and Italy in the aftermath of the Paris shootings. The Philippine government, however, has admitted that local authorities have been coordinating with the Interpol and Asean to identify individuals who have joined the ISIS in Syria and Iraq. In one of our previous columns, Read More …
Jan 142015
MANILA, Philippines – The inflow of remittances slightly slowed in November, the Bangko Sentral ng Pilipinas reported yesterday, although demand for skilled Filipinos abroad remained strong. Remittances – cash and non-cash – went up 1.8 percent to $2.346 billion in November from $2.305 billion in the same period in 2013. This is the slowest pace recorded after April 2009’s 1.3-percent increase. However, this brought the January to November figure to $24.366 billion, higher by 6.2 percent than the $22.945 billion in the same period in 2013. “The continued deployment of skilled manpower remained a key driver of the sustained growth of remittance flows,” the BSP said. Citing data from the Philippine Overseas Employment Administration, the central bank said job orders reached 855,357 as of November last year, more than a third of which were for service, production, and professional, technical and related work in Saudi Arabia, the United Arab Emirates, Kuwait, Taiwan and Qatar. Cash remittances alone climbed two percent to $2.122 billion in November from $2.08 billion in the same period in 2013. BSP data showed this is the slowest growth rate recorded following January 2009’s 0.1 percent pace. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the 11 months to November, money sent home by Filipinos abroad rose 5.7 percent to $21.991 billion from $20.796 billion in the same period in 2013. Remittances from land-based workers amounted to $16.9 billion as of November, while those sent by sea-based workers reached $5.1 billion. Bulk of these funds Read More …
Jan 142015
MANILA, Philippines – Infrastructure giant Metro Pacific Investments Corp. (MPIC) is spending as much as $90 million to expand its toll road business overseas with the acquisition of a minority stake in a toll road operator in Vietnam. Ramoncito Fernandez, president of Metro Pacific Tollways Corp., said the company is spending approximately $86 to $90 million to acquire a stake in CII Bridges and Roads Investment Joint Stock Co. (CII B&R). This is the second overseas venture of MPIC for its toll road business. In a disclosure to the Philippine Stock Exchange (PSE), MPIC general counsel Jose Jesus Laurel said MPTC entered into an equity investment and financing transaction with Ho Chi Minh City Infrastructure Investment Joint Stock Co. (CII). Laurel said the transaction would result in MPTC holding a significant minority equity interest equal to about 45 percent of the outstanding capital of CII B&R. The transaction would be conducted through a combination of purchase of CII B&R secondary shares from CII and subscription to Vietnamese Dong (VND)-denominated bonds to be issued by CII that are exchangeable into secondary shares in CII B&R. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The company informed the Exchange that MPTC entered into a share purchase agreement with CII covering the purchase of 30 million shares of CII B&R at VND22,100 per share. Likewise, MPTC also signed a bond subscription agreement with CII covering the issuance by CII of and the subscription to 1.02 million bonds each with a face value Read More …
Jan 142015
My sister Michelle had a once in a lifetime experience with Pope John Paul II during their trip to the Vatican in 1984. Today, along with millions of Filipinos, I welcome Pope Francis, the People’s Pope, in our country. As one of the biggest Catholic country in Asia, the Philippines is truly blessed to have the Pope visit us. This will be the first papal visit in 20 years. If you can remember, we had Pope John Paul II in 1995 to celebrate the World Youth Day. The Pope’s visit is one of the greatest blessings we will receive this year. Months before today, the Philippines started its preparations. Aside from the responsibility of the government, different Catholic groups and organizations, and also families and individuals are eager to contribute and help in the planning and execution. When I met with Cardinal Tagle last month, I was glad to hear that there are many supporters, donors and volunteers who gave their contributions and allotted their time to be part of this. This will be a memorable experience for all Filipinos who will have a glimpse of the Pope and be able to participate in his activities in the country. It is not every day that we have the Pope with us, so we must all do our best to participate in His Holiness’ visit. Definitely, a once in a lifetime experience. I remembered my sisters Marie and Michelle had an opportunity to meet Pope John Paul II in 1984. Read More …
Jan 142015
Around 1,500 people protested in one of the Philippines’ main Muslim-majority cities on Wednesday against the French satirical weekly Charlie Hebdo’s caricatures of the Prophet Mohammed, police said. Local politicians, teenaged students and women with veils covering their faces packed the main square in Marawi in the southern Philippines, some raising their fists in the air as a Charlie Hebdo poster was burnt. “What had happened in France, the Charlie Hebdo killing, is a moral lesson for the world to respect any kind of religion, especially the religion of Islam,” organisers said in a statement released during the three-hour rally. “Freedom of expression does not extend to insulting the noble and the greatest prophet of Allah.” A group calling itself “Boses ng Masa”, or Voice of the Masses organised the rally, which attracted about 1,500 people, Marawi police officer Esmail Biso told AFP. He said non-government organisations and a local school owner were behind the group. Twelve people including eight Charlie Hebdo cartoonists and journalists and two police officers were killed last week after Islamist militants struck the magazine’s Paris office, in an attack that has sparked outrage worldwide. The attacks triggered giant rallies in support of Charlie Hebdo’s victims and the right to publish images of Mohammed, which is deemed blasphemous for Muslims. The protest in the Philippines was one of first reported worldwide since the violence to express outrage at Charlie Hebdo. The protesters carried streamers in with the words “You are Charlie” written in French, in response Read More …
Jan 142015
THE year 2015 or the year of the Wooden Sheep will have businesses keep their momentum of businesses, according to Feng Shui enthusiast Edgar Hao. “The year of the Sheep will be better than last year. This is a year good for business and opportunities,” Hao said in an interview on Tuesday. The year of the Wooden Sheep which will officially kick in on Feb. 19, has the sense of balance as all the five elements including wood, water, metal, fire and earth will be found in this year’s Feng Shui chart, which serves as their guide in making predictions. “There is momentum. The balanced astronomical signs signify a year of prosperity and a year of opportunities. The presence of fire element, for instance, will continue to push opportunities especially in business,” said Hao, who has been practicing practical Feng Shui for 15 years. 2 elements The year of the sheep is symbolized by two elements— with yin wood sitting on top of earth. Although this signals disharmony as the “wood conquers earth on the destructive cycle,” such conflicts, according to Hao, may be more easily resolved with compromise and concessions in 2015 as the nature of the yin wood is a flower which is easy to adjust directions and is much more flexible. “Yin wood symbolizes the small branches of tree which is not stubborn and can easily adjust to changing circumstances. With such character, expect 2015 will be comparatively less violent than 2014,” said Hao. “In 2015, the Read More …
Jan 142015
© Pressmaster/shutterstock.com (Miami–AFP) – Plenty of research has shown that learning a second language can boost brainpower, but a new study out Monday suggests that the effects extend to those who begin in middle childhood. The study in the Proceedings of the National Academy of Sciences showed that people who began learning English around age 10 and were immersed in the language, meaning they heard and used it in daily life, showed improvements in the structure of the brain’s white matter compared to people who grew up speaking only English and did not learn a second language. These “higher levels of structural integrity” were in areas responsible for language learning and semantic processing. The findings mirror observations from previous studies that found these improvements in people who learned a second language at a much earlier age. Researchers studied brain scans from 20 people, all around the age of 30, who had lived in Britain for at least 13 months. They had all started learning English as a second language around age 10. Their imaging analyses were compared to 25 people of similar age who spoke only English. “Everyday handling of more than one language functions as an intensive cognitive stimulation that benefits specific language-related brain structures by preserving their integrity, and therefore it protects them against deterioration in older age,” said the study led by Christos Pliatsikas of the University of Kent School of Psychology. Since previous studies had predominantly relied on people who learned two or more languages beginning Read More …
Jan 142015
Filipina Pop Star Princess Sarah Geronimo is poised to open New Year with a bang for a two-night concert to endear followers and avid patrons of the only getaway for music and game lovers, Pechanga Resort & Casino in Temecula, California on January 16 and 17 at 8 p.m. Pechanga Resort & Casino is well-known for hosting the best and the brightest Filipino entertainers and performers such as Mega Star Sharon Cuneta, veteran actor Richard Gomes and OPM (Outstanding Pilipino Music) legend Rico J. Puno, who gave wholesome entertainment to the delight of the crowd in previous engagements. Variety is the name of the game for Pechanga Resort & Casino, the reason why it is hosting in January 2015 the first-ever two-day concert of Geronimo dubbed as ‘Perfect 10’ by Viva Live group. At age two, Geronimo, who was gifted with talent in both singing and acting, started a series of shows in the malls. She born July 25, 1988 by Filipino parents, Divine and Delfin and is the third of four children. When she turned four, her mother led her to audition to different TV programs where she became part of the kiddie show, Pen-Pen de Sarapen (4-6 years old), Ang TV (7-8 years old), and NEXT (8-9 years old). She likewise, performed in various other venues as hotel lounges and huge shopping malls and in 1995 became one to perform for the 1995 visit of Pope John Paul II. In 2003, when Geronimo was just 14 years old, she joined the singing competition Read More …