September 2016 – Page 40

‘US 9/11 a wake-up call for Pinoys’

News

Sep 112016

Presidential Communications Secretary Martin AndanarINQUIRER FILE PHOTO/JOAN BONDOC THE SEPT. 11, 2001, terror attack on the United States has made Filipinos realize that combatting terrorism should be a shared responsibility of the government and its citizens, Presidential Communications Secretary Martin Andanar said on Sunday. “This is a reminder that all of us are facing a faceless enemy, the terrorists,” Andanar said in an interview over dzRB state radio. “And we should all be one in battling this. We should all be helping each other.” He said every Filipino should take on the responsibility of helping the Armed Forces of the Philippines and Philippine National Police in putting an end to the activities of the Abu Sayyaf and other local terror groups. Andanar said it was unfortunate that the unimaginable 9/11 incident, which killed nearly 3,000 people 15 years ago, had “opened a Pandora’s box in terrorism.” “As a matter fact, it developed into something even worse. We now see extremists like IS. Even the Abu Sayyaf became stronger [after 9/11],” he said. Most notorious The Abu Sayyaf has been described as the most notorious local terrorist organization. It has allied itself with the late international terror chief Osama bin Laden’s al-Qaida network, the regional terror group Jemaah Islamiyah and recently with the sadistic Islamic State. The group has denied involvement in the Sept. 2 bomb attack in Davao City that killed 14 people and wounded 67 others. President Duterte has vowed to exact revenge on those behind the bombing in Read More …

‘Shelve sea dispute to save reefs’

News

Sep 112016

PUERTO PRINCESA CITY—As the Philippine and Chinese governments fight for control over territories in the South China Sea, the sustainability of the waterway’s rich marine resources has become the silent casualty in the dispute, according to a marine expert. “A Scarborough [Shoal] peace park right now could be the foot in the door for the entire [South China Sea] situation,” John McManus, a leading marine scientist from the University of Miami, told the Inquirer during a recent visit to Puerto Princesa City, capital of Palawan province. McManus has proposed to China and the Philippines to set aside their territorial dispute over Scarborough Shoal—known to Filipinos as Panatag Shoal—not only to ease the tensions between them but also to preserve what global marine experts claim to be one of the most beautiful and productive coral reefs in the world. McManus is also behind a proposal to create an international peace park in the Spratly Islands following the conduct of marine studies in the late 1990s on reef and fishery conditions in the disputed region. A professor of marine biology and fisheries and director of the National Center for Coral Reef Research at Rosenstiel School of the University of Miami, McManus pioneered a scientific research initiative to map out coral reefs in the world, through a project called Reefbase. Irreplaceable loss McManus, who was in Palawan to promote his peace park proposal through the assistance of the United States, warned that China’s plan to build an artificial island on Panatag Shoal would Read More …

Duterte brings ‘new normal’ to PH-US ties

News

Sep 112016

Duterte brings ‘new normal’ to PH-US ties

Philippine President Rodrigo Duterte (AP Photo/Bullit Marquez) RELATIONS between the Philippines and the United States have been historically stormy but close, but the arrival of a roughneck in Malacañang who says he is no fan of the Americans has brought a “new normal” to those ties and Washington is not unlikely to keep Manila at a distance in the next six years. While China’s increasing aggressiveness in the South China Sea keeps US-Philippine security relations “indispensable,” according to Richard Heydarian, a political science professor at De La Salle University, it is clear that under the administration of President Duterte, “the United States can no longer expect the same level of strategic deference and diplomatic support” from the Philippines. “This is the new normal in Philippine-US relations,” Heydarian wrote in a commentary published by the Asia Maritime Transparency Initiative. Mr. Duterte’s declaration that he is adopting an independent foreign policy for the Philippines, Heydarian said, is a “brazen and audacious policy pronouncement in a profoundly pro-American society, where much of the intelligentsia and security forces feel deep affinity with the United States.” Falling out with Obama Mr. Duterte, who has made it clear to his supporters and opponents from the get-go that he is no ordinary politician—uncouth, brutally frank and even murderous at times—declared an independent course for the Philippines on Saturday after a spectacular falling out with US President Barack Obama that became the buzz at the Association of Southeast Asian Nations (Asean) summit in Laos last week. It was Read More …

HIMAP earns $1.9 B in 2015

Economy

Sep 112016

MANILA, Philippines – The country’s healthcare information management service industry employed 100,000 people last year and generated $1.9 billion in revenues, the Healthcare Information Management Association of the Philippines (HIMAP) said. HIMAP president Beng Coronel said the industry is on track to hitting its target of employing 210,000 people by 2022, translating to a 100 percent jump in revenues to about $5 billion. Actual revenue growth could even be higher given the potential of the industry, Coronel said. “This is a conservative growth in revenue forecasted at 250 percent from $1.9 billion in 2015 and these figures were shown during last year’s conference,” she said. The industry has been growing since 2011 with service providers showing strong capability to offer more work. It has diversified from just medical transcription such as medical coding, medical billing, outpatient care services, telemedicine, pharmaceutical and healthcare application support. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 As the industry continues to grow, it is expected to offer a wide array of career opportunities for healthcare professionals including nurses who often find it difficult to find gainful opportunities in the country. HIMAP is organizing the Global Convergence Enabling Inclusive Care and Innovation seminar on Sept. 15. The conference is expected to look into stakeholder roles in healthcare and how some trends disrupt the growth and innovation in healthcare industry. Coronel said the conference aims to look back at the achievements of the industry and look forward to opportunities for sustained growth. “It will feature presentations and briefings by industry Read More …

Philippines profits from Australia’s trade gains

Economy

Sep 112016

Philippines profits from Australia’s trade gains

Aerial view of the 34.5-hectare VICT in Melbourne. ICTSI soon to open world’s most modern terminal MELBOURNE – By the time Victoria International Container Terminal Ltd. (VICT) starts operations at its new 34.5-hectare cargo port in Melbourne before the year ends, it would have firmly established its parent firm, International Container Terminal Services Inc. (ICTSI), as a global powerhouse in the industry. With 30 terminals spread across 20 countries – including highly-industrialized economies such as the US and China – in six continents, ICTSI has gone Down Under, raising the bar in cargo handling as it touts the “only terminal in the world built without any human body on the land site.” Shelling out A$550 million (about US$415 million) for the project – the company’s third biggest investment after the Manila flagship and Ecuador – ICTSI will utilize cutting-edge technologies and innovations for a fully-automated process from the gate to the quayside. “This will change the logistics landscape in Australia,” said Christian Gonzalez, ICTSI senior vice president and head of Asia Pacific operations, at a recent briefing for Philippine-based media here. Gonzalez “For the first time, post-Panamax cargo ships will be handled in Australia, greatly benefitting both exporters and importers as they can transport larger shipments that otherwise would just pass by and dock in other ports,” he explained. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He noted while the company’s 100-hectare Manila International Container Terminal has the capacity to handle post-Panamax vessels since the early 1990s, MICT Read More …

Presidential Miscommunications Office

Economy

Sep 112016

In the olden days, the press secretary was the Cabinet official responsible for dealing with the press. There was no presidential spokesman… it was just the press secretary. Usually, the position was held by a seasoned former journalist. This is because the position calls for a notable professional experience as a newsman and also a strong relationship with the working press. The press secretary must be able to anticipate the needs of newsmen working against a deadline. He must know what is news and is able to present the day’s stories in a way that would be clearly understood and attract maximum attention from reporters, editors and readers. As a journalist, having a former colleague as press secretary also means there is this important element of trust… no bum steers. He will not, for instance, claim Duterte will sit between Obama and Ban Ki Moon even if he is not sure it will happen… it didn’t. Mutual respect between news source and reporter is essential. Things are admittedly more complicated now. The press is still there, broadcast media, and now the most difficult of all, social media. There are more people speaking on behalf of the president. Aside from the communications secretary and presidential spokesman, the presidential legal counsel just can’t help himself when a microphone is before him. It is a mess. In the latest flap on Obama, all three people had something to say plus the Labor and Tourism secretaries too. All were eager to do damage control Read More …

The market is dropping… what now?

Economy

Sep 112016

Last month (Aug. 13), we held our investor briefing at the Meralco Theater. As with our other briefings, we devoted time for a Q&A portion to answer questions from the audience. In this column, we share our answers to some of the common questions or concerns that were raised during the briefing. We believe these topics are still relevant given recent developments and current market conditions. 1. The ghost month just ended. Should we expect the stock market to start performing better soon? The ghost month for this year started on Aug. 3 and ended on Aug. 31. For that period, the PSE Index posted a 3.1 percent loss. Though the ghost month is over, we note September is also a relatively weak month. In a recent article, we showed September has an average return of -1.4 percent, with a 48 percent chance of declining (Who’s afraid of ghosts?, Aug. 1). Although it is very hard to predict what will happen to the stock market in the short term, we use historical data to uncover seasonal patterns in the stock market. In our book “Opportunity of a Lifetime” (page 196), we said we use August and September as buying windows since they are seasonally weak months for stocks. We do the buying during the weak months of the year in preparation for December and January, which are the strongest months of the year. December has an average return of +3.9 percent while January has an average return of +3.4 percent. Read More …

ERC, Meralco work out another settlement

Economy

Sep 112016

ERC, Meralco work out another settlement

MANILA, Philippines – The Energy Regulatory Commission (ERC) is working on another settlement with Manila Electric Co. (Meralco) after the power distributor asked a local court to stop the new rules on the retail competition and open access (RCOA). “We’re preparing our defense. Meralco’s doing the same. In the meantime, we’re trying to talk to them,” ERC commissioner Alfredo Non told reporters. “I have talked to (Meralco president and CEO) Oscar Reyes, (Meralco senior vice-president) Al Panlilio to see how we can manage the earlier settlement,” he added. In May, Meralco sought court relief after the government issued new RCOA rules that it claimed were not in accordance with Republic Act 9136 or the Electric Power Industry Reform Act and its implementing rules and regulations. The company secured a temporary restraining order from the Pasig regional trial court, but ERC said it has no jurisdiction over the case. Currently, other qualified RES are continuing under the RCOA scheme. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The injunction on the new RCOA rules only brings disadvantage to distribution utilities (DUs) like Meralco because this prevents them from participating in the open market, the ERC commissioner said. “I cannot understand why DUs like Meralco and VECO would oppose the change. The longer they are in injunction, the longer they cannot participate in the CREM (Competitive Retail Electricity Market),” Non said. Under the RCOA regime, end-users who are part of the contestable market, or contestable customers, are given the choice to Read More …

Index may recover this week

Economy

Sep 112016

The benchmark Philippine Stock Exchange index (PSEi) may recover up to 7,780 this week after a weak performance last week, analysts said. MANILA, Philippines – The benchmark Philippine Stock Exchange index (PSEi) may recover up to 7,780 this week after a weak performance last week, analysts said. According to Jonathan Ravelas, chief market strategist at Banco de Oro (BDO), a pullback, if it does happen, may be limited. “The week’s close at 7,581.79 suggests the market still has some room to test the 7,500 levels in the near-term. Failure for the 7,500 levels to hold could call for further losses toward the 7,250 levels. However, given the decline for the fifth straight week, a pullback could occur but limited toward the 7,760 to 7,780 levels,” Ravelas said. Last week, the main composite index fell 2.89 percent to 7,581.79. Analysts attributed the decline to a series of unfortunate events, with a looming US Federal Reserve hike among the biggest of such factors. President Duterte’s tirade with US President Barack Obama also added to the uncertainty as investors deem that the Philippines cannot afford to strain ties with the US. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Market participants are waiting for the US Federal Open Market Committee meeting scheduled on Sept. 22. For Victor Felix, equity analyst at AB Capital, immediate support is seen at 7,550, which may serve as a technical rebound point. “Overall, we may continue to trade lower next week on increasing downward momentum. That said, Read More …

Yap seeks implementation of crop insurance coverage

Economy

Sep 112016

Yap seeks implementation of crop insurance coverage

MANILA, Philippines – A weather-based crop insurance coverage for farmers is being pushed by a former Agriculture secretary now serving as a legislator at the House of Representatives. Bohol Rep. Arthur Yap, who served during the Arroyo administration, wants to protect farmers from the effects of climate change by ensuring they get money depending on the weather. “This can be part of the package of social protection for the poor to help them stay afloat and be one of the tools that we can use to increase food security,” Yap said. “If we can afford to give P60 billion to P70 billion for CCT (conditional cash transfer), why can’t we set aside for index-based insurance?” he added. Under House Bill 40, farmers will be paid cash depending on the measures of indices of wind, water and dry spell, among others, as computed by the state weather bureau. The index-based program could also be triggered by extreme weather conditions, which may impact from the planting to the harvesting of crops. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Currently, the Philippine Crop Insurance Corp. pays only up to P1 billion to cover for damaged crops. This, even as data showed that the country is losing around P40 billion every year from it. “That does not even cover all crops and that is the very eloquent testimony to the absence of crop insurance in the country. Without that, how are you gonna protect the farmers?” Yap said. Yap emphasized that the Read More …

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