Putin to Duterte:  ‘I feel you’

 News
Nov 202016
 
Putin to Duterte:  ‘I feel you’

President Rodrigo Duterte and Russian President Vladimir Putin meet for the first time during a bilateral meeting on the sidelines of the Asia-Pacific Economic Cooperation (Apec) Leaders’ Meeting in Lima, Peru, on November 19. ROBINSON NIÑAL JR./ Presidential Photo LIMA, Peru — Russian President Vladimir Putin told President Duterte he shared some of the latter’s sentiments about the United States and other Western countries after the Philippine leader unburdened his gripes during their first meeting on Saturday. The Russian leader also expressed his appreciation for Mr. Duterte’s hardline stance on some issues as well as his firm leadership, Philippine officials present at the bilateral meeting said. National Security Adviser Hermogenes Esperon Jr. said Putin replied to Mr. Duterte’s anti-West remarks with the statement: “Our assessments coincide in many respects.” He clarified that Putin, who had an interpreter at his side translating their 45-minute exchange, did not specify the United States or any other country when responding to Mr. Duterte’s diatribe. While expressing his admiration for the Russian leader, Mr. Duterte had talked about the “hypocrisy” of the West in intervening in the affairs of other countries while advancing their own interests, and for “bullying” smaller nations. “They want to seem to start a war but are afraid to go to war. That is what’s wrong with America and the others. They are waging war in so many places: in Vietnam, Afghanistan and in Iraq,” he said. Communications Secretary Martin Andanar, in a briefing for Filipino journalists, said Mr. Duterte’s rants Read More …

Duterte to declare lagoon in Scarborough off limits to fishermen

 News
Nov 202016
 
Duterte to declare lagoon in Scarborough off limits to fishermen

President Duterte is set to declare the triangular lagoon inside Scarborough Shoal as a marine sanctuary where Filipino and Chinese fishermen would not be allowed to fish or gather marine produce. Communications Secretary Martin Andanar said Chinese President Xi Jinping had committed to work with Duterte to create and promote a favorable environment in the disputed territory. INQUIRER FILE LIMA, Peru — President Duterte will issue an executive order unilaterally declaring the triangle-shaped lagoon inside the disputed Scarborough Shoal a marine sanctuary, where neither Filipino nor Chinese fishermen would be allowed to fish. Mr. Duterte told Chinese President Xi Jinping of his intentions during their bilateral discussion on Saturday on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit here, according to National Security Adviser Hermogenes Esperon Jr., who was present at the meeting. READ: Esperon: A ‘win-win’ for PH, China on Panatag “The President has decided to declare that as a sanctuary. That is a unilateral action from government,” he said, referring to the lagoon “as big as Quezon City” and known to be a spawning area for fish. Scarborough Shoal is a traditional fishing ground locally known as Panatag. It has been under the control of Chinese authorities since 2012, though China has recently allowed Filipinos to fish again in the area as a result of warming ties with the Philippines. Esperon said Mr. Duterte “clearly talked about maritime arrangements” with Xi, including the prospect of cooperation between their coast guards. “The implication and the effect of this is that Read More …

Russia to buy $2.5B in PH agri produce

 News
Nov 202016
 
Russia to buy $2.5B in PH agri produce

More Philippine babanas will be shipped to Russia in the coming months after Moscow said it would by $2.5 billion in agricultural products from Manila. The trade plan came after bilateral talks between President Rodrigo Duterte and Russian President Vladimir Putin during the 2016 Asia-Pacific Economic Cooperation meeting in Peru. INQUIRER FILE LIMA, Peru — Russia committed to buy up to a staggering $2.5 billion worth of Philippine fruit, grains or vegetables during last Saturday’s bilateral discussions between President Duterte and Vladimir Putin, officials said on Sunday. Trade Secretary Ramon Lopez said the Russian side agreed “immediately” to a proposal for the importation of Philippine fruit and other agricultural products in the next 12 months. READ: Duterte to Putin: PH longing to be part of Europe | Duterte slams US, praises Russia “Their immediate estimate is $2.5 billion. That’s a number they [Russian side] quoted,” the Cabinet official told Filipino journalists covering the Asia-Pacific Economic Cooperation (Apec) Leaders Meeting in Peru’s capital. This dwarfs the $80 million worth of exports the Philippines currently ships to Russia every year, he said. “We were talking of what they could buy from us, especially agricultural products, but nothing was specified. But I understand we supply them with a huge quantity of bananas… and mangoes. With these kinds of discussions, these present more trading opportunities between us,” Lopez said. Lopez said Putin also offered to help the Philippines through investments in energy and infrastructure. “Their immediate estimate is $2.5 billion. That’s a number they [Russian side] quoted,” Read More …

PH eyes Russia’s, China’s help to boost defenses

 News
Nov 202016
 
PH eyes Russia’s, China’s help to boost defenses

President Rodrigo Duterte and Chinese President Xi Jinping greet each during a bilateral meeting at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit in Lima, Peru on November 19. REY BANIQUET/ Presidential Photo The Philippines plans to beef up its defense capabilities with the help of countries like Russia and China, as it seeks to establish industrial defense complexes in areas considered highly “vulnerable to attacks.” These complexes, which will house defense-related manufacturing firms, are targeted to be put up in places like Palawan, since it faces the Spratlys and Zambales, because of the Scarborough Shoal, said Charito B. Plaza, director general of the Philippine Economic Zone Authority (Peza). “We have military reservations that can be utilized as defense industrial complexes depending on the studies to be undertaken by the Department of National Defense (DND). I suggested that we should put up these defense industrial complexes in vulnerable areas of attacks like Palawan and Zambales,” Plaza said.  ‘Window shopping’ She also suggested that two defense industrial complexes be put up in Mindanao. “This is not just about the transfer of technology. We will also be able to modernize our armed forces and the police.” Plaza explained that Peza had begun “window shopping” for prospective locators from Russia, China, Israel and other countries that have sophisticated defense industries. The target is to have locators from these countries to manufacture drones, equipment as well as the hardware and software needed by the military and police both for export and local Read More …

Palay, corn output may drop this year

 Economy
Nov 202016
 
Palay, corn output may drop this year

MANILA, Philippines – The positive second half for the agriculture sector may not be able to pull off the output for the rest of the year as palay (unhusked rice) and corn production may suffer setbacks due to the recent dry spell, the Philippine Statistics Authority (PSA) said. Palay production is expected to reach 17.91 million metric tons (MT) this year, down 1.3 percent from the 18.15 million MT output last year. Harvest area may also decline by almost two percent to 4.58 million hectares in 2016 from 4.66 million hectares last year. Production for the last quarter is expected to increase a measly 0.33  percent from 7.28 million MT last year to 7.3 million MT this year coming from Central Luzon, Mimaropa and ARMM. But the PSA said the increase in production would not likely offset the decline in output in the early part of the year. Palay output for the first semester was already lower by 8.13 percent mainly due to the contraction of harvest areas and lower yields due to the El Niño phenomenon. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Possible decrements in production are also perceived in Cagayan Valley and Zamboanga Peninsula due to unrealized plantings and movement of cropping in the Visayas regions and Zamboanga Peninsula as an effect of dry spell and drought in the past quarters,” the agency said. Furthermore, corn production is also expected to post a 3.4 percent decrease, from 7.52 million MT last year to 7.26 million MT this year Read More …

PAL expects to post profit in 4th quarter

 Economy
Nov 202016
 
PAL expects to post profit in 4th quarter

MANILA, Philippines – The parent firm of Philippine Airlines (PAL) expects to post profit in the fourth quarter, coming from a net loss in the third quarter, amid anticipated increase in passengers during the holiday season. PAL president and chief operating officer Jaime Bautista told reporters on the sidelines of the 60th Assembly of Presidents of the Association of Asia Pacific Airlines that while the carrier expects October to still be a lean month for travel, passenger volume would likely pick up in November and December. “Half of November is lean (and) half is going to peak, but December will be peak. So, the (fourth) quarter, we’re expecting to be a profitable quarter,” he said. PAL Holdings Inc. incurred a net loss of P2.01 billion in the third quarter last year, a turnaround from the P247.90 million net income posted in the same period a year ago. While revenues went up year-on-year in the third quarter, total expenses rose. Revenues grew six percent to P27.78 billion in the third quarter from P26.21 billion last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Total expenses, meanwhile, climbed 14.9 percent to P29.57 billion in the third quarter from the previous year’s P25.73 billion. For the January to September period, net earnings of PAL Holdings reached P2.60 billion, down 57 percent from the P6.11 billion a year ago. Revenues for the nine-month period reached P85.35 billion this year, a 3.5 percent increase from the P82.48 billion in the same period last Read More …

Pivot to China seen positive for 2017 GDP

 Economy
Nov 202016
 
Pivot to China seen positive for 2017 GDP

President Rodrigo Duterte and Chinese President Xi Jinping greet each during a bilateral meeting at the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit in Lima, Peru on November 19. REY BANIQUET/ Presidential Photo MANILA, Philippines – Credit Suisse said President Duterte’s pivot to China would bring in more investments as well as tourists and is positive for the sustained economic growth of the Philippines. In a report, Michael Wan, economist at Credit Suisse, said the country’s pivot toward China is net positive for the gross domestic product (GDP) growth as well as balance of payments (BOP) position for next year.  Wan explained the strategy of the Duterte administration would bring in more foreign direct investments and tourism from China next year and outweigh the potential decline in flows from the US in the near term.  Credit Suisse sees the country’s GDP expanding 6.4 percent next year.  The report said around $1-to $4-billion or 0.3 to 1.2 percent of GDP of the $15 billion investment pledges made during Duterte’s visit to China have the potential to start in 2017.  Likewise, Credit Suisse said it does not expect a sharp slowdown in US investments due to the pivot toward China strategy as well as the shocking victory of Republican Donald Trump. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “This implies a two-to six-fold increase in current investments from China, and compares with the Philippines’ typical annual total FDI inflows of $6-to $8-billion. While the US is still the Read More …

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