September 2016 – Page 32

Mindanao: US withdrawal

Economy

Sep 152016

London, U.K. — I understand the president has clarified the Philippines will remain committed to its treaty obligations. The issue of US troops leaving Mindanao was overblown. My sources say that US withdrawal started last year. Moreover, there are less than a hundred left. Even this matter has been given a different spin by our officials, stating it was the president’s concern for their safety that made him say what he said. Even presidential spokesman Abella joined the chorus by saying that the President was misunderstood and there was no need to fret as no timetable was given. For clarification, the presence of US special forces in Mindanao does not arise from EDCA, but from a UN resolution calling on all countries to combat global terrorism. As far as I am concerned, the president is committed to its treaty obligations. Do not confuse the Mindanao issue with EDCA. Once again, the Palace spinmasters have failed to consolidate matters with all concerned. Result is a halo-halo of explanations. As I have said before, “message discipline” is needed and “one messenger.” The president’s impromptu announcements, laced with impolite statements, confounds all of us. He really should forewarn his staff before any major speech. Russian Vladimir Putin once said: “When one crosses the borders of good manners, it is a manifestation of one’s weakness, not their strength.” Many of us have expressed the hope that former presidents like FVR should tactfully volunteer guidance on foreign policy matters. Digong was not elected because of Read More …

Foreign investment pledges rise 11.5% in Q2

Economy

Sep 152016

Foreign investment pledges rise 11.5% in Q2

Manufacturing is still the largest recipient of foreign investment commitments, with pledges valued at P14.2 billion in the second quarter of the year or comprising 35 percent of total. File photo MANILA, Philippines – Total foreign investments approved by the country’s seven investment promotion agencies grew 11.5 percent in the second quarter of 2016, the Philippine Statistics Authority (PSA) reported yesterday. Investment pledges during the period reached P40.4 billion, up from P36.2 billion in the same period last year. In the first six months of the year, approved foreign investments reached P66.6 billion, up 14.8 percent from the previous year’s record. These include investment commitments cleared by the Board of Investments, Clark Development Corp., Philippine Economic Zone Authority, Subic Bay Metropolitan Authority, Authority of the Freeport Area of Bataan, BOI-Autonomous Region of Muslim Mindanao and Cagayan Economic Zone Authority. By country of origin, the top three prospective investors in the second quarter of 2016 were Singapore, Japan and South Korea. Pledges from Singapore amounted to P10.2 billion. Japan and Korea committed investments worth P7.1 billion and P5.1 billion, respectively. Manufacturing is still the largest recipient of foreign investment commitments, with pledges valued at P14.2 billion in the second quarter of the year or comprising 35 percent of total. Construction also received a sizeable amount of pledges at P8.2 billion representing 20.4 percent of total; while administrative and support service activities received commitments of P6.2 billion, making up a 15.4-percent share. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In Read More …

Villar ramps up coffee business

Economy

Sep 152016

MANILA, Philippines – The Villar Group plans to expand its newly opened coffee chain Coffee Project to bring its total network to 23 by the end of 2017. It is pouring in P225 million to roll out 15 more branches in the next 15 months. Villar Group founder Manuel Villar Jr. decided to put up the coffee chain because he is a coffee lover. “I am a coffee lover and I always wanted to have a coffee shop. I had always thought that if I were to put up a food chain, it will be a coffee shop concept,” said Villar. To achieve its goal, the company will put up six branches before the end of the year and add nine more branches in 2017. At present, Coffee Project has seven branches including Wil Tower in Quezon City, Metropolis mall in Alabang, Vista Mall Sta. Rosa, Vista Mall Pampanga, and Vista Mall Bataan. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Villar said the new locations for its coffee stores are within the group’s properties in Legaspi and Salcedo Villages in Makati, Bonifacio Global City, Lakefront in Muntinlupa, Parañaque and Vista City in Daanghari. Villar said his coffee chain could join the growing number of Filipino-owned coffee companies such as Figaro and Bo’s Coffee. The company uses local and imported beans, mostly Arabica beans. Villar likewise noted the homey atmosphere of his coffee stores. “Coffee Project is half flavor and half ambience,” Villar said. The Villar Group opened the Read More …

PH–US ties will endure

News

Sep 142016

US-Philippine alliance will “endure and remain strong” because of the two countries’ long-standing relations, and US President Barack Obama is “committed to work effectively” with Manila to advance shared interests in his last four months in office, a US official said on Wednesday. “Let me say that the Philippines Foreign Minister and its defense ministry have issued statements… affirming the importance of the closeness of the alliance,” said Nina Hachigian, the US ambassador to the Association of Southeast Asian Nations (Asean). “We have a wide range of shared concerns and shared interests with the Philippines, and we’ve been able to work effectively together to advance those interests, and Mr. Obama has committed to doing that in the four months remaining,” Hachigian said in a telephonic press conference with journalists. When asked about President Duterte’s directive that the Philippine military would not conduct any joint maritime patrols with its allies in the South China Sea, Hachigian referred the reporters to the US and Philippine defense departments for “more details about that.” But she also said “with the new administration, we are currently beginning to have meetings and discuss our shared priorities and programs,” referring to the Duterte administration. The US and Asean is set to have an informal meeting in Hawaii later this month. Latest TJ Perkins wins CWC, crowned as new Cruiserweight champ Guardiola urges City fans to embrace Champions League Paolo Duterte ‘won’t dignify’ claims of De Lima witness ‘Bohemian Rhapsody’ turned into a VR music video Recommended Disclaimer: Read More …

Yasay on mission to Washington

News

Sep 142016

Foreign Secretary Perfecto Yasay Jr. is set to meet with US Secretary of State John Kerry in Washington on Thursday in an apparent attempt to mend fences with the country’s staunchest military ally after President Duterte called for US troop withdrawal in Mindanao. The Department of Foreign Affairs (DFA) said Yasay would attend a private dinner to be hosted by Kerry on Sept. 15 for visiting senior officials including foreign ministers. He is also expected to attend meetings of the Filipino community, the chief executive officer of the Millennium Challenge Corporation and the Center for Strategic and International Studies. “Secretary Kerry will be hosting a private dinner for visiting high officials including foreign ministers,” DFA spokesperson Charles Jose said in a press briefing on Wednesday. No bilateral meeting He said that while no bilateral meeting between secretaries Yasay and Kerry has been tabled, the two would have a chance to talk on pressing issues during the private dinner. The chief diplomat would then proceed to New York to attend the annual United Nations General Assembly. Earlier, Yasay said he was ready to respond to any inquiry from Kerry regarding Mr. Duterte’s recent statements on withdrawal of US troops in Mindanao. “I will have the same things to tell him (Kerry) as there is no change in our foreign policy,” Yasay said in a television interview, prior to leaving. He said he would discuss with Kerry “the projects and joint cooperation matters that we will continue to pursue (with the Read More …

IN THE KNOW: Duterte’s remarks vs United Nations

News

Sep 142016

IN THE KNOW: Duterte’s remarks vs United Nations

After the UN rapporteurs criticized his ruthless war on drugs, President Duterte called the United Nations “stupid” and threatened to pull the Philippines out of the world body. “Maybe we’ll just have to decide to separate from the United Nations. If you are that rude, son of a bitch, then we’ll just leave you,” Mr. Duterte said in a news conference in Davao City on Aug. 21. His anger was provoked by the warning of the UN special rapporteur on summary executions, Agnés Callamard, that government officials could be held liable for the extrajudicial killings in Mr. Duterte’s war on drugs. The President also challenged UN officials, whom he called “sons of bitches,” to solve the Philippines’ narcotics problem that has generated more than 3 million drug users. “Do you think it’s a joke? It’s a joke for you to tell me about human rights. Come here and solve the problem yourself. I will fund you … I will buy even your toilet paper,” he said in a late-night press conference on Aug. 24. On June 8, weeks before Mr. Duterte’s inauguration, UN Secretary General Ban Ki-moon condemned his apparent support for extrajudicial killings, saying they were “illegal and a breach of fundamental rights and freedoms.” “Fuck you, UN, you can’t even solve the Middle East carnage … couldn’t even lift a finger in Africa … Shut up all of you,” Mr. Duterte retorted then. On the same day, he also told off two UN rapporteurs who had called him Read More …

‘Lost’ Australian pelican ends up in General Santos

News

Sep 142016

‘Lost’ Australian pelican ends up in General Santos

GENERAL SANTOS CITY—An Australian pelican that strayed hundreds of kilometers from its nearest known habitat to end up in the Philippines is the first such bird to be seen in the Asian archipelago, according to wildlife enthusiasts. The waterbird flew into a fish breeding farm on the outskirts of the southern port of General Santos in early September, resident Levy Discamento told Agence France-Presse (AFP). “We saw a small flock of swallows chasing this big strange bird. There was an air battle until the big bird gave up and ran toward the mangroves,” Discamento said, recounting his first sighting. The mostly white pelican, a species which boasts the longest bill of any bird, measuring up to 47 centimeters (18.5 inches), has since attracted a flood of Filipino and foreign birdwatchers. They rent dugouts to watch and photograph the bird while it gorges on fish in nearby Sarangani Bay, Discamento said. “We feel (it) is a blessing, bringing good vibes to people,” Jimmy Poja, a local fisherman, told AFP. Most northern place Willem Van de Ven, a Manila-based biologist and president of the Wild Bird Club of the Philippines, said the species is found all over Australia and occasionally as far as New Zealand, some Polynesian islands, New Guinea, and parts of Indonesia. “General Santos is definitely the most northern place it has been recorded in recent history, and quite a bit farther than usual,” he said. He added that the birds, which do not migrate seasonally, have never been Read More …

12 PPP projects go full throttle

Economy

Sep 142016

TWELVE infrastructure projects costing at least P265.31 billion are in different stages of procurement under a public-private partnership scheme, including the operation and maintenance of Light Rail Transit Line 2 (LRT-2) and five regional airports, an official of the Public-Private Partnership (PPP) Center of the Philippines said on Wednesday.

As Duterte drums up anti-US sentiment, market perception turns for the worse’

Economy

Sep 142016

INVESTOR worries over the Duterte government’s political, diplomatic and economic policy have been exacerbated by the souring relations between the Philippines and the US, with financial markets negatively responding to the unfolding diplomatic drama, an economist at ING Bank N.V. Manila said.

The Culprit: More than meets the eye

Economy

Sep 142016

According to Einstein, fear and greed are two of the three great forces that exist in the world. In this context, fear and greed are likely the drivers of a human being’s irrational action and behavior. We can say that greater fear and greed occur in our later years, when we start experiencing the increasing degrees of pressure from factors that shape our perspectives. It comes as no surprise that a relatively mature or sensible person is possibly a fraudster induced by an insatiable desire to gain status or wealth, or by an equally overwhelming fear of losing such things. When this happens, someone else is made to pay the price — the victim.

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