Vietnam warns South China Sea is a ‘test’ of Asean

 News
Jul 252016
 
Vietnam warns South China Sea is a ‘test’ of Asean

Laotian Prime Minister Thongloun Sisoulith, sixth from left, and Laotian Foreign Minister Saleumxay Kommasith, sixth from right, stand with with Southeast Asian foreign ministers, from left, an unidentified delegate from Malaysia, Aung San Suu Kyi of Myanmar, Vivian Balakrishnan of Singapore, Don Pramudwinai of Thailand, Pham Binh Minh of Vietnam, Thongloun Sisoulith, Saleumxay Kommasith, Perfecto Yasay Jr. of the Philippines, Brunei’s Trade Minister Jock Seng Pehin Lim, Sakhonn Prak of Cambodia, Retno Marsudi of Indonesia and ASEAN Secretary General Le Luong Minh, as they pose for a group photo during the opening ceremony of the 49th Association of Southeast Asian Nations (ASEAN) Foreign Ministers’ Meeting in Vientiane, Laos, Sunday, July 24, 2016. AP Photo VIENTIANE, Laos—Vietnam has warned that the inability of Southeast Asian nations to forge a unified front against Beijing’s militarization of the South China Sea is a “test” of the regional bloc in the face of its greatest security challenge. The unusually strong comments from a key claimant to the contested waters, comes as diplomats meet in Laos for the first summit since a UN-backed tribunal debunked Beijing’s legal claim to vast stretches of the strategically vital sea. After talks stuttered on Sunday, Vietnam’s Ministry of Foreign Affairs issued a late night statement warning that the South China Sea had become “a test case for the unity and the central role of Asean.” READ: China divide and rule splits Asean “Many ministers stressed that in this context, Asean should promote solidarity, unity and a central role,” the Read More …

Pimentel expects Duterte to push federalism in his first SONA

 Entertainment
Jul 242016
 
Pimentel expects Duterte to push federalism in his first SONA

‘Federal Republic of the Philippines’ By Jelly F. Musico President Rodrigo R. Duterte is assisted by Philippine Sports Commission (PSC) Chairman William ‘Butch’ Ramirez in waving the Philippine Flag during the Send-off Ceremony for the Philippines’ delegation to the Rio Olympics 2016 at the Rizal Hall of the Malacañan Palace on Monday, July 18, 2016. Also in the photo is Philippine Olympic Committee (POC) President Jose ‘Peping’ Cojuangco. (MNS photo) MANILA  (PNA) – Presumptive Senate President Aquilino ‘Koko’ Pimentel III is expecting President Rodrigo Duterte to push the shift of the form of government to federalism in his first state of the nation address (SONA) on Monday. ”I’m hoping to hear some priority legislative suggestions from president and the shift to federalism,” Pimentel said in a Senate media interview. Pimentel, whose bid for Senate presidency has the support of at least 15 senators, said he is also hoping for the president to prioritize the income tax reform. ”Perhaps it’s (SONA) like a reportorial unless he has an idea of a new law or policy that needs congressional cooperation. Basta federalism ang aking hinihintay,” Pimentel said. As expected, Pimentel said Pres. Duterte will also mention his ongoing all-out war against crimes, illegal drugs and corruption. In the Senate, outgoing Senate President Franklin Drilon filed last July 3 a resolution calling for a constitutional convention to review the 1987 Constitution. Drilon said that Resolution of Both Houses No. 1 calls for a convention, whose members shall be elected by January next year, Read More …

Akbayan lawmaker urges creation of Department of Fisheries

 Entertainment
Jul 242016
 
Akbayan lawmaker urges creation of Department of Fisheries

By Cielito M. Reganit Fishermen on a small boat sail through rough waves caused by Typhoon Ineng, at Manila Bay, Thursday. Typhoon Ineng on Thursday packed maximum sustained winds of 180kph near the center with gusts of up to 215kph as it moves closer to extreme northern Luzon, PAGASA said. (MNS photo) MANILA  (PNA) – Following the favorable ruling of the Permanent Court of Arbitration (PCA) on the West Philippine Sea, a Partylist lawmaker has filed a bill that will establish the country’s very own Department of Ocean, Fisheries, and Aquatic Resources (DOFAR) to protect and manage the country’s vast marine resources. In filing HB 1612, Akbayan Partylist Rep. Tom Villarin said the vastness of Philippine territorial waters, which cover 2.2 million square kilometers and 18,000 kilometers of coastline, has made it highly challenging for many previous administrations to protect, manage, and harness the country’s marine and aquatic resources to yield equitable gains, particularly for the fisherfolks. “Our fisherfolk are among the most vulnerable sectors in our society but they will also benefit the most from the PCA award. We should seize this opportunity and enable our fisherfolk to reap the rewards they long deserve,” he said. “The establishment of a department that will concentrate solely on the management, conservation, development, protection, utilization, and disposition of all fishery and aquatic resources of the country would ensure that there is enough fish for succeeding generations to catch, sell, and eat,” Villarin said. If enacted into law, DOFAR will also supervise and Read More …

PHL stocks rally to new 2016 high

 Entertainment
Jul 242016
 
PHL stocks rally to new 2016 high

Jacinto Ng (L), Asia United Bank (AUB) Corp chairman, leads the ceremonial ringing of the bell at the Philippine Stock Exchange (PSE), as Anita Ng (2nd L), PSE Chairman Jose Pardo (2nd R) and PSE official Vivian Yuchengco look on, in a financial district of Makati city, metro Manila May 17, 2013. Philippine lender Asia United Bank Corp jumped as much as 9.5 percent on its market debut on Friday after an oversubscribed public offer, the first listing since the country won investment rating upgrades from two agencies this year. (MNS photo) MANILA  (PNA) – The local stock market closed at its new 2016 high above 8,000-level on Tuesday on positive corporate earnings prospects and stable economic outlook. The Philippine Stock Exchange index (PSEi) advanced 49.76 points or 0.62 percent to 8,036.01 from previous day’s 7,986.25 finish. This is the second time the local stock barometer breached the 8,000-mark this year but still lower than the record high level of 8,127 achieved in April last year. “Expectations of better second-quarter earnings boosted prices higher,” said Jonathan Ravelas, chief strategist at Banco de Oro Unibank. Ravelas believes that the index has “still some gas” to retry the 8,136 levels in the near-term. Victor Felix, equity analyst at AB Capital Securities, said the local bourse also rallied on stable economic outlook by the Asian Development Bank. The ADB has maintained its economic growth projection for the Philippines at 6 percent this year and 6.1 percent for 2017. All counters rose moderately, except Read More …

Need to upgrade Coast, Navy, Air Force now more urgent: DND chief

 Entertainment
Jul 242016
 
Need to upgrade Coast, Navy, Air Force now more urgent: DND chief

By Priam F. Nepomuceno Around 196 generals, flag and senior officers of the Armed Forces of the Philippines and 28 Department of Foreign Affairs (DFA) officials await confirmation of their promotion by the Commission on Appointments during a hearing at the Philippines Senate in Pasay City on Wednesday. (MNS photo) MANILA  (PNA) – There is an urgent need for the Philippines to upgrade and modernize its Coast Guard, Navy and Air Force to prevent other countries from encroaching on its territory especially the maritime ones. “We should have strengthen our Coast Guard 10 years (so that intruders) cannot encroached on our territories. That’s the purpose now of our (modernization program) to give our Coast Guard, Navy and Air Force a minimum credible deterrent so that our territories will not just be encroach upon,” he added. The DND chief stressed that the Philippines is not in a position to prevent China from constructing more of their man-made islands despite the ruling of the UN Permanent Court of Arbitration last July 12. “I don’t think they will listen to us, (if they will do that, they will just continue doing that) despite our objections, we can’t do anything, so we’ll just watch them do that because we don’t have any capability to prevent them from doing that,” he stressed. Lorenzana earlier said the DND will still continue with AFP Modernization Program which jives with their long term plans of having credible deterence to secure Philippine territory. And while some projects may be Read More …

PHL Museum of Natural History design celebrates nature, Science & Arts

 Entertainment
Jul 242016
 
PHL Museum of Natural History design celebrates nature, Science & Arts

Architect Dominic Galicia presents the architectural design of the “Tree of Life” in the shape of a DNA strand that will be at the center of the new National Museum of Natural History. WASHINGTON, DC – Art and science enthusiasts and members of the Filipino community gathered at the Romulo Hall of the Philippine Embassy on Friday, 15 July 2016, for a presentation by Architect Dominic Galicia on the creation of the new National Museum of Natural History in Manila’s Rizal Park. The Museum of Natural History will be housed in the building of the former Department of Tourism located beside the Museum of Filipino People, former Senate building and the National Gallery of Art, which is the former Department of Finance building. No changes will be made to the building’s façade which follows a neoclassical style dating back to the pre World War II era. The museum’s retrofitting will follow an environmental theme and will use environment-friendly technology. Architect Dominic Galicia and interior designer Tina Periquet are in charge of the museum’s design. A “Tree of Life” in the shape of a DNA strand will be at the center of the building and a glass dome will cover its central courtyard. “Similar to the Smithsonian National Museum of Natural History here in Washington, D.C., our very own National Museum of Natural History will serve both as a symbol and an institution geared towards understanding how nature continues to shape the Filipino way of life. It promises to tell us our origins Read More …

Andi Eigenmann is dating again

 Entertainment
Jul 242016
 
Andi Eigenmann is dating again

Andi Eigenmann (MNS photo) This year is turning out to be a great one for Andi Eigenmann. After living her dream in Cannes, the young actress happily shared details about her new television show and that she had a new man. “Masaya ako,” Eigenmann said, adding that she has been together with her non-showbiz boyfriend for a “couple of months.” The “Ma’ Rosa” actress refused to identify her new flame, saying she would like to keep things private for now. In January, Eigenmann was rumored to have gotten back with on again, off again boyfriend Jake Ejercito after fans speculated that she took a vacation with the actor in Thailand. The two were also spotted in Cebu with friends. Eigenmann and Ejercito had a tumultuous relationship. However, the former admitted that she considered Ejercito to be the closest “father” figure to her daughter, Ellie. Eigenmann has yet to confirm the real identity of Ellie’s biological father, but promised to do so when her daughter asks her to. Meanwhile, Eigenmann also expressed excitement over her return to television after a two-year break. Guest appearances aside, she was last seen in the 2014 fantaserye “Dyesebel” alongside Kapamilya star Anne Curtis. Eigenmann described the story of “The Greatest Love,” an upcoming afternoon family drama, as one “about a mother’s love for her children and vice versa.” “I’m going to be mabait this time,” she teased. “Sobrang good girl iyon character ko which is a new challenge for me and I’m really excited to Read More …

Ready, set, IPO!

 Economy
Jul 242016
 

(Second of two parts) In last week’s column, we talked about how companies see an initial public offering (IPO) as a crowning achievement for the organization, and yet the reality is that an IPO should be seen as a milestone and not an end in itself. We also discussed the challenges that family-owned businesses face when considering an IPO. In this column, we will look into eight key areas that a company has to consider in assessing their readiness for an IPO, as discussed in the publication, EY IPO leaders’ insights.

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