September 2016 – Page 26

Palace urges Pinoys in NY to ‘remain vigilant’ after blast

News

Sep 182016

Palace urges Pinoys in NY to ‘remain vigilant’ after blast

Presidential Communications Secretary Martin Andanar. INQUIRER FILE PHOTO/JOAN BONDOC DAVAO CITY, Philippines—Malacañang on Sunday advised Filipinos in New York “to remain calm and vigilant” after an explosion in the crowded Chelsea neighborhood. “We are deeply saddened by the New York explosion that left scores injured in Chelsea district,” Communications Secretary Martin Andanar said in a statement. READ: New York blast ‘intentional’ but no terror link at this point Andanar said the Philippine Consulate General in New York was closely monitoring the situation. “As authorities begin to investigate, the Philippine Consulate General in New York continues to monitor the situation closely,” he said. New York City is home to thousands of Filipino migrants and overseas Filipino workers (OFWs). “We advise Filipinos living in the area to remain calm and vigilant as we wait for further developments,” Andanar said. New York authorities said at least 29 people were injured in the explosion while the cause of the blast remains unknown. RAM/rga READ: 25 hurt in possible blast in New York – fire department Latest Officials bring aid to isolated Batanes island Aguirre: Gov’t exec to link De Lima to drug money in House probe Trucks to be banned from Skyway to improve safety Journalist Teddy Boy Locsin is new ambassador to UN Recommended Disclaimer: Comments do not represent the views of INQUIRER.net. We reserve the right to exclude comments which are inconsistent with our editorial standards. FULL DISCLAIMER View Comments For feedback, complaints, or inquiries, contact us.

Journalist Teddy Boy Locsin is new ambassador to UN

News

Sep 182016

Journalist Teddy Boy Locsin is new ambassador to UN

Malacañang has confirmed that journalist Teddy Boy Locsin is the new representative of the Philippines to the United Nations. PHOTO FROM TEDDY LOCSIN TWITTER ACCOUNT Former-lawmaker-and-now-TV anchor Teddy Boy Locsin Jr. has been appointed as the new Philippine ambassador to the United Nations (UN), Malacañang confirmed on Sunday. In a statement, Communications Secretary Martin Andanar said Locsin had accepted the post after meeting with President Rodrigo Duterte at the Bahay Pangarap in Malacañang. “Cong. Locsin said he accepted the position as UN Ambassador,” Andanar said. The Palace official earlier said Locsin would issue a statement once he returns from a trip abroad. “The President and former Cong. Teddy Boy Locsin had a talk. Cong. Locsin told me he would release a statement once he returned from an overseas trip next Tuesday,” Andanar said on Saturday. Locsin served as a Makati representative from 2001 to 2010. He currently hosts shows for the ABS-CBN News Channel, ANC. Latest Police: Multiple people hurt in stabbings at Minnesota mall New York blast ‘intentional’ but no terror link at this point Abu Sayyaf frees 3 Indonesian hostages — MNLF EU urges PH to stop extrajudicial killings of drug suspects Recommended Disclaimer: Comments do not represent the views of INQUIRER.net. We reserve the right to exclude comments which are inconsistent with our editorial standards. FULL DISCLAIMER View Comments For feedback, complaints, or inquiries, contact us.

EU urges PH to stop extrajudicial killings of drug suspects

News

Sep 172016

EU urges PH to stop extrajudicial killings of drug suspects

THE EUROPEAN Union (EU) Parliament has called on the Philippine government to “put an end to the current wave of extrajudicial executions and killings” of drug suspects. The EU Parliament has also directed the EU delegation in the Philippines and the embassies of 28 European countries here to monitor rights abuses following President Duterte’s declaration of a “state of national emergency on account of lawlessness” on Sept. 3. READ: Duterte declares ‘state of lawlessness’ Mr. Duterte placed the entire Philippines under a state of national emergency after a bomb ripped through a night market in his hometown of Davao City late on Sept. 2, killing 15 people and injuring 67 others. In a five-page resolution passed on Thursday, the EU lawmakers expressed concern over the extraordinarily high number of drug suspects killed by police and vigilantes in the Philippines since Mr. Duterte launched a crackdown on the illegal drug trade upon taking office on June 30. EU members include highly developed Germany, France, Italy, Belgium, Luxembourg, Czech Republic, Sweden, Portugal and Finland. More than 3,000 killed More than 3,000 people have been killed by police and vigilantes in the Philippines since Mr. Duterte launched his brutal war on drugs. Without directly blaming the government, EU lawmakers said they believed Mr. Duterte’s incendiary public statements encouraged mass murders involving drug traffickers and users. “President Duterte repeatedly urged law enforcement agencies and the public to kill suspected drug traffickers who did not surrender, as well as drug users,” the EU lawmakers said. Read More …

US pol says Pinay scammed him online

News

Sep 172016

SPRINGFIELD, Illinois—A top Republican in the Illinois House of Representatives, who resigned in July after claiming his Facebook page had been hacked, acknowledged on Friday he had engaged in “inappropriate online conversations” with a woman who extorted money from him that he wired to the Philippines. Downers Grove ex-Rep. Ron Sandack, who had been the GOP floor leader, issued a statement following the release of additional information from a police report that he filed in July. The report said Sandack accepted a “friend” request from the woman on Facebook and exchanged messages and a Skype video call before he received messages demanding money. According to the report, which The Associated Press obtained through an open records request, Sandack might have fallen prey to a scam originating in the Philippines. Sandack’s statement described it as an “international crime ring focusing on high-profile individuals, luring them to engage in inappropriate online conversations with the intent of extortion.” “I took their bait and fell for it hook, line and sinker,” said Sandack, who is married with two children, of a video conversation he had with a woman he believed to be in her early 20s. “Subsequently, counterfeit social media accounts were created jeopardizing my online identity. Nonetheless, I was a victim. Poor decisions on my part enabled me to be a victim,” he said. Downers Grove police concluded their investigation without filing charges. Their latest report said the FBI facilitated a conversation between Sandack and the Philippine National Police, but the local police Read More …

Abus want caliphate, Duterte tells troops

News

Sep 172016

Abus want caliphate, Duterte tells troops

CAMP MELCHOR DELA CRUZ, Gamu, Isabela—President Duterte told the soldiers here to brace themselves for a long fight ahead against the Abu Sayyaf and other terrorists seeking to establish a radical Islamic caliphate in Southeast Asia. Addressing the troops at Camp Melchor dela Cruz, Mr. Duterte said that unlike other Moro rebels, the Abu Sayyaf was not hungry for autonomy or independence for Mindanao. “They are hungry for a fight to establish a caliphate in Southeast Asia. A caliphate is a kingdom for the Muslims,” Mr. Duterte said. He mentioned this as he spoke of pursuing peace talks with the communist and Moro rebels. The President said the problem with the Abu Sayyaf was that it would not talk with the government on what it could give to them, like schools. “It’s either the caliphate or nothing,” he said. The Moro Islamic Liberation Front was willing to talk, but he said Moro National Liberation Front founder Nur Misuari was “ambivalent.” “In my view, Nur will not commit now. He’s consolidating the forces, but he has lost control of the young men of the Moro generation, the Abu Sayyaf,” Mr. Duterte said. The President said the soldiers would have to “reinvent themselves into intelligence agents, ones who are trained in profiling,” so they could stop the Abu Sayyaf from carrying out terrorism, including attacks on urban areas. “They won’t be content with bombings in Davao. So it’s a long fight ahead,” he said. A deadly blast ripped a popular night market Read More …

PSE expects 2 more IPOs this year

Economy

Sep 172016

MANILA, Philippines – The Philippine Stock Exchange (PSE) expects at least two initial public offerings (IPOs) for the rest of the year with the bigger of the two possibly happening “in the coming weeks.” PSE chief operating officer Roel Refran declined to identify the two companies but so far, those that are seeking approvals to do an IPO are oil giant Pilipinas Shell Petroleum Corp. and technology company AudioWav Media Inc. “We will have a deal hopefully in the next couple of weeks. Expect one big and hopefully another one,” Refran said. Shell is still seeking regulatory approval for a planned P29.7 billion IPO. The company will offer 330 million shares including an over allotment of up to 30 million for up to P90 per share. In its registration statement filed with the Securities and Exchange Commission (SEC), Shell is planning to do its IPO on November 10 but company insiders said the IPO may happen earlier or before its country chair for 13 years, Edgar Chua, retires in October. However, in a separate interview, BPI Capital chief operating officer Reginald Cariaso simply said they are working to get the IPO done but declined to comment on whether there would be a change in schedule. BPI and JP Morgan are the underwriters for Shell’s IPO. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “It’s been filed and we’re working to get it done,” Cariaso said. Commenting on the prevailing market conditions, he said: “I think market is still conducive Read More …

BDO leads financial institutions in survey of preferred employers

Economy

Sep 172016

BDO leads financial institutions in survey of preferred employers

MANILA, Philippines – BDO Unibank emerged as the most preferred employer among financial institutions in the latest survey conducted by online recruitment site Jobstreet.com. Jobstreet conducted a series of surveys and interviews from May to July 2016 among its more than 14,000 members — mostly fresh graduates and junior executives — on their preferred employer. Based on the result of the surveys on the 2016 Top 10 Companies, BDO was the fourth Most Preferred Employer, making the bank the only financial institution among the top 10 in the history of Jobstreet’s top companies. BDO is a full-service universal bank which provides a wide range of corporate, commercial and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services. Owned by the SM Group, it is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of March 31, 2016.

Property, telco firms back IT-BPM roadmap

Economy

Sep 172016

Property, telco firms back IT-BPM roadmap

MANILA, Philippines – Real estate developers and telecommunications companies have pledged their support for the development of the country’s information technology and business process management (IT-BPM) sector which will soon embark on a new six-year growth path. The Information Technology and Business Process Association of the Philippines (IBPAP) said the country’s biggest property and telecommunications players vowed to put up better quality buildings and infrastructure in their bid to create an ecosystem that will sustain more inclusive growth for the IT-BPM sector. These firms include Ayala Land, Double Dragon Properties, Federal Land, Filinvest, Globe Telecom, Leechiu Property Consultants, Megaworld, PLDT, Profriends, Robinsons Land, and SM Prime Holdings, the IBPAP said. “All these years, our roadmap partners have been our strong allies in building the industry through connectivity and building robust, world class 24/7 communities that IT-BPM companies need. They continue to play a crucial role as the 1.2 million strong industry charts its course over the next six years,” said Benedict Hernandez, IBPAP’s executive committee chairman. Hernandez said the property and telecommunications giants maintained their commitment to further support the growth of the sector by continuously aligning with IT-BPM companies’ needs and ICT demands as they continue to expand into areas outside Metro Manila, transforming previously untapped and undeveloped localities into bustling IT-BPM hubs. “Our collaboration and partnership will remain key to realizing the new roadmap ambitions, especially as we focus even more on countryside development,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 IBPAP and research Read More …

Asean bloc to promote asset class, corporate governance

Economy

Sep 172016

Asean bloc to promote asset class, corporate governance

MANILA, Philippines – Members of the ASEAN Capital Markets Forum (ACMF) including the Philippines have agreed to intensify efforts to promote ASEAN asset classes and promote corporate governance and other initiatives to support the ASEAN Economic Community (AEC). This was the result of the ACMF’s 25th meeting, hosted by the Indonesia Financial Services Authority (Otoritas Jasa Keuangan) in Jakarta early this month. During the meeting, the ACMF also agreed to introduce an annual ASEAN Capital Market Conference as a platform to discuss opportunities in ASEAN capital markets and to showcase ASEAN asset classes. The inaugural conference will be conducted in the first half of 2017. The members of ACMF also noted the progress of implementation of the ACMF Action Plan 2016 to 2020 that will support the objectives of the AEC. A key initiative in the Action Plan is to foster greater mobility of professionals within the region by establishing a working group on professional mobility to introduce rules to facilitate cross-border movement of capital market professionals on a phased basis. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The ACMF also acknowledged the progress of the holistic review of the ASEAN Corporate Governance Scorecard and assessment methodology, which is being spearheaded by the Philippines’ Securities and Exchange Commission (SEC). Overall, the members reiterated the importance of corporate governance as a key component of the ACMF’s efforts in promoting the investability of ASEAN public-listed companies. Ranjit Ajit Singh, chair of the ACMF, said discussions with international dialogue partners and industry Read More …

ERC thumbs down 11 power supply deals

Economy

Sep 172016

MANILA, Philippines – The Energy Regulatory Commission (ERC) has thumbed down 11 power supply deals deemed “legally defective.” The ERC dismissed each power supply agreement (PSA) applications of Biliran Electric Cooperative (BILECO) and La Union Electric Cooperative I (LUELCO) with GNPower Dinginin Coal Plant Ltd. Co. (GNPD), a joint venture among GNPower AC Energy Holdings Inc. of the Ayala Group and Sithe Global Power LLC. The power regulator also denied the PSA application of Cotabato Electric Cooperative (COTELCO) & Western Mindanao Power Corp. (WMPC) of the Alsons Group and of Camarines Sur IV Electric Cooperative Inc. (CASURECO IV) & Unified Leyte Geothermal Energy Inc. (ULGEI) of the Lopez Group. The applications of several electric cooperatives with San Miguel Corp. (SMC) related power plants were also denied. The ERC dismissed the PSAs of Cebu I Electric Cooperative (CEBECO I) and Cebu II Electric Cooperative (CEBECO II) with Mariveles Power Generation Corp. (MPGC), a joint venture between SMC Global Power Holdings Inc. and Meralco Powergen Corp. that is building a 4×150-MW circulating fluidized bed coal-fired power generating facility in Mariveles, Bataan. Also thumbed down were the PSAs of Davao del Norte Electric Cooperative (DANECO), Siargao Electric Cooperative (SIARELCO), Misamis Oriental I Electric Cooperative (MORESCO I) and Zamboanga del Sur Electric Cooperative (ZAMSURECO I) with San Miguel Consolidated Power Corp. (SMCPC), which is developing a coal-fired power plant in Malita, Davao. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Lastly, the power regulator dismissed the PSA between Nueva Vizcaya Electric Cooperative Inc. Read More …

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