Dec 292015
 
Bank resources rise to P11.9 T in September

MANILA, Philippines – Total resources of the country’s banking system strengthened further, booking a double-digit growth in September amid external shocks brought about by uncertainties on the interest rate lift-off in the US as well as the economic slowdown in China. Data from the Bangko Sentral ng Pilipinas (BSP) showed total resources of the Philippine financial system grew 10.6 percent to P11.9 trillion in end September from P10.7 trillion in end September last year. As a percent of gross domestic product (GDP), the country’s banking resources stood at 90.6 percent. Big banks or universal and commercial banks continued to account for 90 percent of the total resources of the banking system. The continued rise in resources including deposits, profits, and retained earnings indicate banks have the ability to service funding needs of corporate and household clients. At the same time, this shows banks have enough to act as a buffer against any external shocks. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Statistics from the BSP showed bank deposits rose 7.8 percent to P6.9 trillion in the first nine months from P6.4 trillion in the same period last year as more and more Filipinos are saving. The BSP said savings deposits increased 9.3 percent, while demand deposits jumped 15.3 percent in end September and foreign currency deposits owned by residents surged 13.7 percent. On the other hand, time deposits declined 1.4 percent in the first nine months of the year. “Savings and time deposits remained the primary sources of Read More …

Dec 292015
 
Through young eyes: The Philippines and East Asia in 1956

In 1956, our president was Ramon Magsaysay. Our country was surging with confidence. We were doing well on the 10th year of our political independence as a nation. Almost 60 years ago, in 1956. Only recently, I became aware of the memoirs of Rodolfo T. Reyes who published his book, Memoirs of a Newsman, in 1990 while I was living abroad. To celebrate the end of 2015, I use an episode in this memoir that happened in 1956 as the starting point of my piece today. Chapter 7 of Rod’s memoir, “Four Hours in No Man’s Land,” told of the tense adventure of a group of Filipino students as they were entering the border of Vietnam from Cambodia on a goodwill visit. A Chinese communist flag was found in the bag of one of the students by a border guard as they were entering anti-communist South Vietnam. I was a member of that group of student leaders. The four of us from UP included Rod Reyes (who became a journalist par excellence), Homobono Adaza, and Amado Luis Lagdameo. Rod and Bon were student editors of the Philippine Collegian. Louie and I were from the UP Student Council, the elected UP student “politicians.” Nine other student leaders came from the University of Santo Tomas, University of the East, Lyceum, Philippine Women’s University, Philippine Christian Colleges, and Centro Escolar University. The trip was sponsored by the Office of the President of the Philippines and suggested by Rafael Salas, then adviser on student Read More …

Dec 292015
 
Sharon speaks up on possibility of KC, Piolo rekindling romance

Sharon Cuneta (MNS Photo) Megastar Sharon Cuneta does not mind if her daughter KC Concepcion decides to rekindle past romance with ex-boyfriend Piolo Pascual. According to the seasoned actress, Concepcion is old and wise enough to make her own choices. Concepcion is already 30 years old while Pascual is 38. “Okay lang sa akin. Kahit sino basta masaya ang anak ko. So whatever she decides, I will support her 100 percent,” she said. Cuneta added: “She’s old enough. I don’t see her quite often. Kahit hindi kami laging magkasundo o hindi kami nagkikita, alam naman niya na mahal ko siya at alam kong mahal niya ako.” Recently, Concepcion and Pascual fueled speculations of them getting back together after they were seen during the taping of ABS-CBN’s Christmas Special at the Smart-Araneta Coliseum in Quezon City. Piolo Pascual and KC Concepcion (MNS Photo) The latest sighting came months after they settled their differences in London where variety program “ASAP” had a show last September. Cuneta, who also mended fences with the actor this year, said she is friends with Pascual and the actor will remain close to her family. “Piolo ay kaibigan namin at malapit sa puso. You know that Piolo and I are friends now, right? Marami kasing hindi alam ang tao sa samahan before everything… before nagkagulo. But I’m very happy. God talaga works in mysterious ways,” she said. She also wished that Pascual and Concepcion will be given a chance to work in one project. “Piolo and KC, Read More …

Dec 292015
 
Grace Poe runs to SC to reverse DQ from May polls

The camp of Senator Grace Poe asked the Supreme Court (SC) on Monday (Dec. 28, 2015) to stop the decision of the Commission on Elections (Comelec) that disqualified her to run in the 2016 presidential polls. Poe, through her legal counsel, Atty. George Garcia (in left photo), filed the petition for certiorari and urgent motion for the issuance of a temporary restraining order (TRO) against the Comelec decision. One of the two petitions filed by Poe’s camp challenged the Comelec First Division ruling while the second petition assailed the Comelec Second Division ruling. Poe’s camp also asked the SC to issue a status quo ante order (SQAO) against the Comelec ruling in order that the name of Poe would still be included in the ballot for the 2016 elections. Photo at right shows Poe’s supporters urging the Comelec to allow the lady senator to run for president in the May 2016 polls. (MNS photo) MANILA (Mabuhay) – Sen. Grace Poe’s camp rushed to the Supreme Court on the first working day after Christmas to contest the Commission on Elections’ (Comelec) rulings disqualifying her from the 2016 presidential election. The SC en banc is currently on a holiday break and will not convene until next month, but Chief Justice Maria Lourdes Sereno had said that the high court may rule on “urgent matters” filed during the break. Poe’s lawyer George Garcia filed on Monday morning two separate petitions for the issuance of a temporary restraining order (TRO) and a status quo Read More …

Dec 292015
 
Firecracker-related incidents on the rise

Workers wrap fireworks at a makeshift factory in Bocaue, Bulacan. Production of fireworks has stepped up in anticipation of New Year celebrations despite the Department of Health advisory to avoid the use of firecrackers as numerous incidents have led to scores of injuries.(MNS photo) MANILA (Mabuhay) – The number of firecracker-related incidents continues to increase as the New Year draws near, figures from the Philippine National Police (PNP) and the Department of Health (DOH) show. As of 6 a.m. of December 28, the PNP has recorded 61 gun- and firecracker-related incidents, including 39 cases of illegal possession/use/sale of firecrackers, 10 cases of fire/injuries due to firecrackers, six cases of stray bullet, and another six cases of illegal discharge of firearms. The PNP report noted that no casualty has so far been recorded due to firecrackers or stray bullets. The report, however, said that a total of P629,506 worth of firecrackers has so far been confiscated by authorities. The PNP report also said four people have been arrested due to indiscriminate firing, two of them civilians, one a police official and another a security guard. Meanwhile, the DOH reported much higher figures. In a press briefing Monday morning, DOH Undersecretary Lyndon Lee-Suy said that as of December 28, a total of 111 individuals, mostly children, have been injured by firecrackers. This was a big jump from DOH’s figure on Sunday when a total of 81 firecracker-related injuries were recorded. Suy said 77 percent of the recorded injuries as of December 28 Read More …

Dec 292015
 
Ex-senator wants Comelec to drop Poe from 2016 poll list

Senator Grace Poe on Tuesday presents a copy of the Philippine National Police Board of Inquiry (BOI) report and discusses the findings of the Senate committee on public order that she heads. Poe affirmed most of the BOI’s findings and stressed President Aquino’s responsibility on the incident. (MNS photo) MANILA (Mabuhay) – Former Senator Francisco “Kit” Tatad has filed a motion before the Commission on Elections (Comelec) to drop the name of Senator Grace Poe from the certified list of presidential candidates. Tatad’s counsel Manuel Luna said their motion presupposes that Poe will not be able to secure a temporary restraining order from the Supreme Court on Monday. “This motion is anchored on the Comelec’s rules of procedure particularly Section 13, Paragraph B which says that in special cases such as this one, a disqualification case or a cancellation case, the judgement order or the resolution of the commission en banc becomes final and executory after five days unless restrained by the Supreme Court,” Luna said. “We are asking the commission en banc to direct the first division of this commission to enforce its judgment against Senator Grace Poe-Llamanzares cancelling her certificate of candidacy, and in the process dropping her name from the certified list of candidates,” the lawyer added. The Supreme Court is on recess until January 10. But under Rule 7, Section 7 of the SC Internal Rules, Chief Justice Maria Lourdes Sereno is empowered to act on urgent cases and issue temporary restraining orders (TROs) or status Read More …

Dec 292015
 
House probe sought on ‘Honor Thy Father’s’ DQ from MMFF Best Picture race

“Honor Thy Father” Official theatrical poster (courtesy of https://en.wikipedia.org) MANILA, Dec 28 (Mabuhay) – An actor-lawmaker who is part of the cast of the film “Honor Thy Father” asked Congress Monday to investigate the Metro Manila Film Festival (MMFF) executive committee’s decision to disqualify the movie from the Best Picture race to know if any irregularity has been committed. In House Resolution 2581, Laguna Rep. Dan Fernandez asked the House Committee on Metro Manila Development to conduct a probe in aid of legislation on “Honor Thy Father’s” disqualification as a Best Picture nominee as he slammed the lack of due process behind the MMFF executive committee’s move. Although Fernandez appeared in the film, he clarified that his move to launch a congressional inquiry into the MMFF controversy was not a retaliatory act but a bid to prevent similar instances from happening in the future. “Hindi natin ito ginawa dahil kasama tayo [sa pelikula]. What happened to ‘Honor Thy Father’ might happen again. It’s high time we do something about this. I’ve heard lots of things already about some injustices that have been committed regarding this matter. That’s what we want to shed light on with this investigation,” he said. The MMFF’s decision to exclude “Honor Thy Father” from the Best Picture race became controversial because the film’s producers were only informed about it in a letter sent less than a day before the awards night on Sunday. Fernandez said the film’s producer, Ronald Stephen Monteverde, was deprived of due process Read More …

Dec 292015
 
Claudine, Raymart spend Christmas together

Claudine Barretto and Raymart Santiago with children Santino and Sabina (MNS photo) Former couple Raymart Santiago and Claudine Barretto, whose legal feud hogged headlines in 2014, set their differences aside to celebrate Christmas with their children. On her Instagram account, the 36-year-old Barretto posted a photo of her with Santiago and kids, Santino and Sabina. It had the caption: “Merry Christmas po sa inyong lahat.” For his part, Santiago uploaded a short clip of Santino and Sabina opening their Christmas presents on his own Instagram page. He also posted a photo of him with his kids. Last June, Santiago and Barretto also set aside their differences to show support for the 11th birthday celebration of Sabina. First reports of their separation surfaced in July 2013. Barretto earlier accused Santiago of “physical, sexual, psychological and economic” abuse, supposedly dating back to 2002. These are detailed in her complaint against the actor for his alleged violation of the Anti-Violence against Women and Their Children Act of 2004. Santiago, meanwhile, alleged that he was a victim of domestic violence. The actor accused his wife of being mentally ill and having a history of drug abuse—claims backed by the actress’ estranged siblings Gretchen, Marjorie, and JJ. Both Barretto and Santiago repeatedly mentioned the welfare of their children in explaining why they took the spat to court, and why they were seeking sole custody of their kids. Meanwhile, Barretto’s niece, Julia Barretto, took a break from her busy schedule to spend the holidays with her Read More …

Dec 292015
 

Manila, Philippines | AFP   – Communist insurgents in the Philippines have attacked military convoys bringing aid to victims of a recent typhoon, killing one soldier in the latest ambush, police said Thursday. The incidents came just before a Christmas truce called by the rebels took effect on Wednesday. In the latest incident on Tuesday, guerrillas of the communist New People’s Army (NPA) ambushed an army truck on a relief mission in the storm-hit eastern island of Samar, national police said in a statement. One soldier was killed and two wounded in the attack. The police condemned the attack, saying the rebel movement “has evolved from an ideological revolutionary group to one conducting acts of banditry out of desperation”. The attack followed an earlier NPA ambush of a military truck carrying relief goods for storm victims in Samar last week, which wounded two soldiers. The impoverished island of Samar, located almost 530 kilometers (325 miles) southeast of Manila, was one of the areas hardest hit by Typhoon Melor when it struck the country last week, killing at least 45 people. The island is also a stronghold of the NPA who have been waging a 46-year-old rebellion that has claimed about 30,000 lives by official estimates. The insurgents are now estimated to number fewer than 4,000. The military said the group sustains itself by extorting from businesses. Repeated efforts by successive governments to arrange peace talks have failed to end the rebellion. Recently, the communists declared a unilateral ceasefire for Christmas, from December 23 to January Read More …

Dec 292015
 
Why tracking your steps could take the fun out of fitness

Tracking physical efforts could make them less enjoyable, and actually decrease the amount of exercise we do, according to a new US study. ©klohka/shutterstock.com (Relaxnews) – Wearable tech and fitness apps tracks are not only supposed to help us track progress, but also motivate us to get moving, run faster, and walk further. But according to a new US study, tracking our activities could be having the opposite effect, and decreasing not only the amount of exercise we do, but also how much we enjoy it. A study from Duke’s University’s Fuqua School of Business found that although measuring our activities can initially motivate us to do more, they can take the enjoyment out of the activity, and actually cause us to do less, even once we have stopped tracking them. In the study Professor Jordan Etkin carried out six experiments where participants had to color, read, or walk, to measure the effects that tracking had on various activities. Etkin look at not only how much of each activity was completed, but also how much participants enjoyed it. In the walking test, a group of 95 participants were asked to record their thoughts for a day while walking. One group of the participants were offered a pedometer for the day to track their own steps, which all but four accepted. They were also asked to check regularly how many steps they had taken. Participants in the other group were also given a pedometer, but were unable to see how many steps they Read More …