Police officers stand beside bodies of victims after an explosion at a night market that has left at least 10 people dead and wounded several others in Davao city, Philippines late Friday, Sept. 2, 2016. AP Photo/Manman Dejeto MANILA, Philippines – Domestic concerns, primarily the explosion in Davao, as well as the tiff between President Duterte and US President Barack Obama have started to spook investors, analysts said yesterday. The benchmark Philippine Stock Exchange index (PSEi) plunged 100.08 points to close at 7,619.10, while the broader All Shares index retreated 51.49 points to close at 4,542.35. The rest of the counters followed the same track except for the mining and oil, which managed to stay afloat with a 13.41-point increase at 10,695.52. Analysts said domestic concerns have started to weigh on sentiment and in the long term could further spook investors. In a report yesterday, for instance, Moody’s warned that if recent events lead to prolonged uncertainty around security or economic policy, such a development would eventually dampen business confidence and, consequently, economic outcomes. On Sept. 2, a bomb detonated in a night market in Davao City, the largest municipality in the southern region of Mindanao. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Following the incident, President Duterte declared a “state of lawlessness” nationwide, paving the way for heightened security measures, including the stepped-up deployment of soldiers and policemen in key areas. Moody’s said the near-term sovereign credit impact of these developments is limited as we do Read More …

VIENTIANE, Laos – China on Wednesday told member-states of the Association of Southeast Asian Nations (Asean) that the territorial dispute over the South China Sea “should not represent” their relations. In a press briefing, Presidential Communications Secretary Martin Andanar said all the 10 Asean countries raised the issue regarding the overlapping ownership claims over the resource-rich region during the Asean-China meeting at the National Convention Center. While the matter has remained controversial, the atmosphere during the session was “friendly and warm,” Andanar said. He said President Duterte himself spoke about the issue, but maintained that the territorial row “should inspire us to work together.” Andanar said Chinese Premier Li Keqiang also underscored the importance of China’s contribution to the regional bloc and the mutual trust among the nations. “(Li) mentioned the need to pursue common interests (of China and Asean),” Andanar told reporters. JE RELATED VIDEOS <div id=”vt-video-player”></div><script type=”text/javascript”>window.__ventunoplayer = window.__ventunoplayer||[];window.__ventunoplayer.push({video_key: ‘ODE4MjMwfHwyMzY4fHwxMDg2fHwxLDIsMQ==’, holder_id: ‘vt-video-player’, player_type: ‘vp’, width:’100%’, ratio:’16:9′});</script><script type=”text/javascript” src=”http://pl.ventunotech.com/plugins/cntplayer/ventunoSmartPlayer.js”></script> Latest Another short work day sees Djokovic into semi-finals China: Maritime row ‘should not represent’ relations to Asean ‘No Mario’s Sky’ gets shut down but re-releases under a new name Wozniacki, Kerber to clash for US Open final spot 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.

China’s Premier Li Keqiang, fifth from left, links hands with leaders of the Association of Southeast Asian Nations (ASEAN) during 19th ASEAN-China summit, a parallel summit in the ongoing 28th and 29th ASEAN Summits at National Convention Center in Vientiane, Laos, Wednesday, Sept. 7, 2016. ASEAN leaders from left; Myanmar’s Foreign Minister Aung San Suu Kyi, Singapore’s Prime Minister Lee Hsien Loong, Thailand’s Prime Minister Prayuth Chan-ocha, Vietnam’s Prime Minister Nguyen Xuan Phuc, Laos’ Prime Minister Thongloun Sisoulith, Philippines’ President Rodrigo Duterte, Brunei’s Foreign Minister and Prime Minister Sultan Hassanal Bolkiah, Cambodia’s Prime Minister Hun Sen, Indonesia’s President Joko Widodo, and Malaysia’s Prime Minister Najib Razak.(AP Photo/Gemunu Amarasinghe) The 10-member Association of Southeast Asian Nations has been hosting a gathering of world leaders this week as the region faces a raft of democratic, human rights and good governance challenges. Here are the leaders of ASEAN nations and issues surrounding their rule: Brunei Sultan Hassanal Bolkiah, 70, is one of the world’s richest men thanks to his 49-year absolute rule over tiny oil-rich Brunei. His luxurious lifestyle is legendary yet in 2014 he introduced a strict sharia criminal code that includes severing of limbs and death by stoning for various crimes. No such punishments are known to have been invoked yet. Cambodia A former Khmer Rouge soldier who defected from the brutal regime, Hun Sen became prime minister of Cambodia in 1985 and has held onto the post ever since, forging close links with China. The wily politician, 64, maintains he Read More …

VIENTIANE – The Association of Southeast Asian Nations (Asean) must have a firmer commitment to stamp out the narcotics trade, terrorism and other cross-border crimes to ensure development in the region. President Rodrigo Duterte delivered this message on Tuesday night to senior business leaders during the Asean Business and Investment Summit, one of the related conferences being held on the sidelines of the three-day 29th Asean summit. Reading a prepared speech, the President underscored the importance of enhanced cooperation in curbing transnational crimes to enable the 10-member organization to “confidently play its rightful role as a global player contributing to the economic growth and prosperity.” Duterte, who earned global notoriety for his controversial take-no-prisoner policy against illegal drugs, deviated from his usual profanity-laced speeches as he urged business leaders to take a more active role in regional development. “The trade (of) illegal drugs, in particular, has emerged as a pressing problem for our countries undermining social cohesion and the rule of law and socio-economic program of a country,” the President said in his seven-minute speech. “Asean needs stronger resolve and action to combat transnational crime, one of the most difficult and complex problems that we face in the region and a pressing concern for the Philippines,” he told the gathering at Muong Thanh Luxury Hotel. READ: Asean leaders vow stronger regional cooperation Duterte, who caused international stir for his verbal outburst against US President Barack Obama before flying here on Monday, said terrorism would only stunt economic progress in the region Read More …

US President Barack Obama and Philippine President Rodrigo Duterte. AP AND INQUIRER FILE PHOTOS After the cancellation of their scheduled bilateral talks, President Rodrigo Duterte and United States President Barack Obama are expected to meet at the gala dinner of the Association of South East Asian Nation (Asean) in Vientiane, Laos on Wednesday night. In a statement, Malacañang said Duterte and Obama will be seated next to each other at the gala dinner. “Presidents Duterte and Obama will be seated next to each other, which expectedly, will focus all cameras on them to deliver to the world the encounter of the two,” Palace said. Aside from Obama, Duterte’s other seatmate would be UN Secretary General Ban Ki-moon. “Incidentally, United Nations (UN) Secretary General Ban Ki-moon is also seated on the other side of President Duterte,” the Palace said. Duterte was supposed to have a bilateral meeting with Obama at the sidelines of the Asean Summit but was cancelled after the Philippine President launched tirades against Obama. READ: Obama scraps meeting with Duterte — White House He said Obama should not lecture him about human rights violations, saying it would be disrespectful to him and the Filipino people. “The Philippines is not a vassal state. We have long ceased to be a colony of the United States,” Duterte has said “I do not respond to anybody but to the people of the Republic of the Philippines. Wala akong pakialam sa kanya (I don’t care about him). Who is he?” he added. READ: Duterte voices Read More …

Female members of the Philippine Coast Guard’s Special Operations Group conduct a rappel training emarking from flying Huey Chopper at the Coast Guard Headquarters at South Harbor Manila.INQUIRER PHOTO / RICHARD A. REYES The United States is giving the Philippines two used military aircraft, the coast guard said Wednesday, to help Manila expand sea patrols in the face of territorial disputes with China. The two Sherpa 30-seater aircraft will be delivered in December, Philippine coast guard spokesman Commander Armand Balilo told AFP. “It will help us in the movements of the Philippine Coast Guard like patrol missions,” Balilo added. The announcement came days after Philippine President Rodrigo Duterte on Monday sparked a major diplomatic row with Manila’s longtime treaty ally the United States by branding President Barack Obama a “son of a whore.” Duterte said Tuesday he regretted the tirade, sparked by the US leader’s plan to raise the issue of extrajudicial killings under Duterte’s war on crime. READ: Duterte voices regrets for insult on Obama Manila, which has one of Asia’s weakest militaries, has been trying to improve defence ties with its former colonial ruler Washington and other allies. Balilo said the Sherpas would help the coast guard augment its meagre air patrol capability, now comprised of two old Britten-Norman Islanders. The Philippines has expressed concern about Beijing’s massive island-building over reefs, some of them claimed by Manila, in the South China Sea. Duterte last week said China had sent barges to the contested Scarborough Shoal and had appeared to begin construction there for the Read More …
THE Executive is looking to convene a meeting with Congressional leaders within the next two months to lobby for the speedy passage of the government’s priority measures such as tax reform and the creation of a Housing department, the country’s Budget chief said.
A LOCAL auto parts maker group wants the government to lay down clearly the policy that would allow it to benefit from the so-called Comprehensive Automotive Resurgence Strategy (CARS) Program.
The first of September 2016 marks the resumption of the previously-suspended tax audits being handled by the Bureau of Internal Revenue (BIR). This was by virtue of Revenue Memorandum Circular (RMC) No. 91-2016. The said RMC mentioned that the lifting of the suspension was done since “the conferred authority under the laws to the BIR for the collection of taxes, to be more effectively administered and implemented, requires some form of enforcement activities to ensure the collection of correct taxes at the times prescribed by the law.”

By Cielito M. Reganit Duterte in Davao Port (MNS photo) MANILA, Sept. 5 (PNA) – President Rodrigo Duterte has signed a proclamation declaring a ‘State of National Emergency on Account of Lawless Violence,” Palace officials have confirmed Monday. In an interview in Davao City, Executive Secretary Salvador Medialdea said the President signed the one-page proclamation shortly before leaving for the ASEAN Summit in Laos. Medialdea said that the spate of terror attacks like kidnappings, beheadings and finally the Davao night market bombing prodded the President to issue the proclamation. He also stressed it is not martial law, no curfew is being imposed and there is no timeline for its implementation. “The President will decide until he sees order and safety restored,” Medialdea said. Meanwhile, over in Malacañang, Presidential Communications Assistant Secretary for Policy and Legislative Affairs Christian Ablan said that the Executive Secretary was already on his way to Manila with the signed proclamation. He said that among the salient points of the proclamation was the President’s order for the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP) to undertake measures permitted by the Constitution and laws to suppress all forms of lawless violence in Mindanao. The President also commanded the AFP and the PNP to prevent lawless violence from spreading and escalating elsewhere in the country with due regard to fundamental and civil political rights. “The state of national emergency shall remain in force until lifted or withdrawn by the President,” Ablan said.