Asian Business Association of OC Connects Companies with Entrepreneurs

 Entertainment
Oct 072016
 
Asian Business Association of OC Connects Companies with Entrepreneurs

One of the greatest attributes of America in being a great world power is its ability to harness the multifarious talents and gifted minds of its mosaic demographics. The country is likened magnets that lure talented people from many nations of the world with its offer of unmatched opportunities abound for those willing to work hard. Creativity puts no limits anyone entering its gates to achieve their dreams. The Asian Business Association of Orange County (ABAOC) whose membership represents a tapestry of many cultures from around the world has constantly been at the forefront of a movement to harness the full potentials of its people who have come the represent California’ varied demographics. Inspiration to others: The secrets of the business success of Twin Eagles Inc., (manufacturer of high-end grilling and barbeque system) run byFilipino-American entrepreneurs Dante and Fanny Antal, and KCAL Insurance Agency of Kenny Chang, (CEO and Founder), and his daughter, Angela Chang (Chief Strategy Officer), had been shared to the attendees of Asian Business Association of Orange County-sponsored BMW-Procon Business Matchmaking and Procurement Conference at Disney’s Paradise Pier in Anaheim last Sept. 23. Founded in 1992 as a nonprofits organization to meet the needs of the growing Asian businesses in one of the most populous counties in California with its more than 3 million in 34 cities, ABAOC envisions to provide Asian Americans the opportunity to “gain access to economic advancement by way of networking, education and community representation”. For decades, ABAOC has led in successfully organizing Read More …

Despite Duterte tirades, Obama hails Fil-Ams

 Entertainment
Oct 072016
 
Despite Duterte tirades, Obama hails Fil-Ams

— President Rodrigo Duterte joins other heads of states on stage during the opening ceremony of the ASEAN Summit at the National Convention Center in Vientiane, Laos on September 6. (MNS photo) MANILA  (Mabuhay) – Amid vitriol from President Rodrigo Duterte, US President Barack Obama has hailed Filipino-Americans “for the many ways they have enriched our society.” “They have been the artists who challenge us, the educators who keep us informed, and the laborers of our growing economy,” Obama said in a special message dated October 1 in celebration of the Filipino-American History Month. “And throughout our history, they have served as members of our Armed Forces, helping safeguard our Nation and the values upon which we stand,” he added. Channapha Khamvongsa: After War, A New Legacy of Peace in Laos: President Obama became the first U.S. president to visit Laos, where he discussed his work to address a legacy of war in the country. (White House official photo) Obama, who will be stepping down from office in January, has been on the receiving end of some of Duterte’s tirades, the latest of which was when the Philippine president told him to “go to hell” for criticizing his deadly anti-drug campaign. An earlier tirade from Duterte had prompted Obama to cancel their bilateral meeting during the ASEAN Summit in Laos last month. Obama, in his special message, also took note of how Filipino-Americans helped the US military during World War II, although he admitted that their desire to petition their Read More …

PHL-US defense agreement under review

 Entertainment
Oct 072016
 
PHL-US defense agreement under review

By Jelly F. Musico PHILIPPINE SEA (Oct. 5, 2016) US Navy personnel verify the serial number of an air-to-air missile attached to an F/A-18E Super Hornet on the flight deck of the Navy’s only forward-deployed aircraft carrier, USS Ronald Reagan. The ship is on patrol supporting security and stability in the Indo-Asia-Pacific region. (U.S. Navy photo by Petty Officer 3rd Class Nathan Burke/Released) MANILA  (PNA) — Presidential Spokesperson Ernesto Abella on Wednesday said the legal team of President Rodrigo Duterte is now reviewing the Philippines-United States’ Enhanced Defense Cooperation Agreement (EDCA). ”Regarding the EDCA needing a President’s signature, I just like to say that the President’s legal team is currently addressing the matter,” Abella said in a press briefing. During last Sunday’s 37th Maskara Festival in Bacolod City, President Duterte said the EDCA was just an executive agreement since it was not signed by former President Benigno Aquino III. President Duterte has said EDCA was signed in 2014 only by former Defense Secretary Voltaire Gazmin and US Ambassador to the Philippines Philip Goldberg. Last Monday, President Duterte said he might, under his presidency, break up ties with America and would rather establish alliances with Russia and China. ”He said that he might, okay? Let’s base in on that. He might. It is not a definite yes, it’s not a definite no. He said he might. Okay?,” Abella clarified when asked for comment. Abella also explained that President Duterte is not leaning towards Russia and China. ”It (is) just that he Read More …

Dominguez defends drug war, calls for climate funding

 Economy
Oct 072016
 
Dominguez defends drug war, calls for climate funding

“Our plans to build resilience and develop while protecting the climate and our people are also among the most ambitious of any countries in the world.” AP/Aaron Favila MANILA, Philippines – The country’s finance chief has moved to convince investors and foreign governments of the Duterte administration’s commitment to following the rule of law and helping beat climate change. This came as President Rodrigo Duterte continued to shrug off critics of his anti-drug campaign and his move not to honor a global climate pact signed in Paris, France last February. On the former, Finance Secretary Carlos Dominguez told an investor roundtable in Washington D.C. that the drug war is meant to “rebuild public order.” “Over the short period this new government has been in power, it attracted the attention of the global media mainly because of its unremitting war against the drug syndicates,” Dominguez was quoted as saying in a statement on Friday. “While undoubtedly photogenic, the war on drugs is just part of a larger effort to assert the rule of law, break the grip of organized crime on some of our institutions of governance…,” he said. Dominguez, who is in the US for the annual meetings of World Bank and International Monetary Fund, said laws had been “widely ignored” and that there is a need to “restore” public confidence to the state. On top of the drug war, he also pointed to efforts to put an end to decades-long insurgency in Mindanao, citing the formal resumption of peace talks with rebels. Read More …

Naturalized Filipino businessman Wallace amazed by Duterte’s accomplishments in just 100 days

 Entertainment
Oct 072016
 
Naturalized Filipino businessman Wallace amazed by Duterte’s accomplishments in just 100 days

By Jelly F. Musico President Rodrigo R. Duterte and members of his Cabinet wave during a photo session at the Rizal Hall in Malacañang on Monday (Oct. 3, 2016). (MNS photo) MANILA  (PNA) – Naturalized Filipino businessman Peter Wallace on Wednesday described as impressive the accomplishments of President Rodrigo Duterte in just 100 days of his administration. ”We’ve had almost 100 days now and we’ve had things done. I’m quiet amazed really how many things have been accomplished,” Wallace said in a press briefing in Malacañang. He commended President Duterte for signing an executive order on the implementation of Freedom of Information (FOI) within the executive branch. ”But I think the one that struck us all immediately was, after what? Five presidents, 25 years, we didn’t have a Freedom of Information Act. Within six days, we had one. Just like that. He did the sensible thing. He passed an executive order,” the businessman said. Wallace, founder of the Wallace Business Forum which helps chief executive officers (CEOs) understand the business environment in the Philippines, said he is confident Congress would pass the FOI bill that will cover all branches of government. ”I’ve no doubt, given the majority he has in both Houses, that (the) law will be passed,” he said. He also praised the President for appointing Cabinet secretaries who are economic and business experts. ”His economic cluster is a very well-chosen cluster of people who are former businessmen and academics who know their job and know what has to Read More …

Budget releases slow for fifth straight month in September

 Economy
Oct 072016
 
Budget releases slow for fifth straight month in September

The figure marked a slowdown from 93.4 percent in the same period last year. Philstar.com/File photo MANILA, Philippines – Fund releases to agencies slowed for the fifth straight month in September, but the Department of Budget and Management (DBM) maintained it was not due to the transition in government. A total of P2.75 trillion was released for the first nine months, accounting for 91.7 percent of the P3.002-trillion national outlay, latest DBM data showed. The figure marked a slowdown from 93.4 percent in the same period last year and followed a slowing trend that started during the election month of May. Allotment releases indicate agencies may now enter into contracts for public services, after which funds may be obligated and then spent once checks are available. “The reason is still related to the first answer we gave…It is still not due to transition,” Budget Undersecretary Laura Pascua said in a text message Friday. She was pertaining to the P11.68 billion in releases from the unprogrammed fund last year that was used for rehabilitation of areas hit by typhoon Yolanda in November 2013. Pascua said releases were “quite substantial” last year so much so that base effect may be felt until the end of 2016.  “But releases for the bonuses and additional compensation this quarter may offset it,” she said. In addition, she also pointed to the “large” continuing appropriations of P62.5 billion last year as reason. For this year, that amount was reduced to just P34 million. According to DBM Read More …

Power rates drop anew

 Economy
Oct 062016
 
Power rates drop anew

MANILA, Philippines – Electricity rates have gone down for the third straight month in October due to lower transmission and generation charges, Manila Electric Co. (Meralco) announced yesterday. October rates declined P0.1216 per kilowatt-hour (kwh) to P8.34 per kwh, lower compared to October 2015’s P8.42 per kWh. “The reduction is due to downward movements in both generation and transmission charges,” Meralco said. In terms of household consumption, the decrease is equivalent to P24.33 for 200 kwh, P36.49 for 300 kwh, P48.65 per kwh and P60.82 per kwh. This month’s generation charge, which dipped P0.0501 per kwh from last month’s P3.9439 per kwh to P3.8938 per kwh, was weighed down by the lower charges from the Wholesale Electricity Spot Market (WESM). Meralco said spot prices decreased P1.4747 per kwh in September versus August due to lower demand, as Luzon grid’s peak demand was 300 megawatts (MW) less month-on-month. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This offsets increases in independent power producers (IPPs) and power supply agreement (PSA) costs brought about by higher coal prices and the weaker peso against US dollar, from 46.58 to 48.50. “Peso depreciation has an upward impact on the peso conversion of the dollar charges of the PSA and IPP plants,” Meralco said. The cost of power sourced from plants under the PSAs increased P0.3257 per kwh primarily as coal price in the region continued to increase from $52.85 per metric ton (MT) in June to $67.41 per MT in August. Meanwhile, IPP costs Read More …

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