US encourages peaceful resolution of West PHL Sea dispute

 News
Aug 302013
 
US encourages peaceful resolution of West PHL Sea dispute

The United States on Friday encouraged all the countries involved to resolve peacefully the dispute over the West Philippine Sea (South China Sea). “We encourage nations to peacefully resolve their disputes to internationally accepted mechanism and accordance with international law, including the Law of the Sea and without coercion,” Pentagon chief Chuck Hagel said during a press conference in Malacañang on Friday. He said he supports ASEAN efforts to negotiate the South China Sea Code of Conduct which he said will help peacefully manage disagreements and tensions arising from competing territorial and maritime claims. Hagel also said he “appreciates” the Philippines’ efforts to solve the dispute through peaceful means. The Philippines sought arbitration under the UN Convention on the Law of the Sea (UNCLOS) last January to try to declare as “illegal” China’s nine-dash claim, which covers almost all of the South China Sea, including sections that have been declared as the West Philippine Sea. China has resisted Manila’s move to let a U.N. body intervene in the disputes, saying the Philippines’ case was legally infirm and carried unacceptable allegations. China prefers to negotiate one on one with other claimants, which would give it advantage because of its sheer size compared to smaller rivals that have less military force. Hagel, however, said China “clearly understands” that “the world is interconnected and all powers must develop relationships and get along with each other for their own economic development, for stability, security, peace.” “You cannot have growth, development, and possibilities for the Read More …

Asia to account for half of global luxe revenue by 2020

 Economy
Aug 242013
 
Asia to account for half of global luxe revenue by 2020

MANILA, Philippines – Asia would account for half of the global luxury revenue by 2020, according to the Economic Intelligence Unit (EIU). In a report, EIU forecasts that in the Philippines alone, there will be at least 38,000 millionaires by 2015. EIU is an independent business within the Economist Group which offers forecasting and advisory services, as well as country, industry and management analysis worldwide. “Based purely on consumption growth levels and currency headwinds, the region could account for over one-half of global luxury revenue within a decade, compared with one-third today,” it said. Luxury firms are shifting their attention towards other emerging markets in the Middle East and Africa. But unlocking Asian potential is the priority for luxury brands. EIU’s five-year forecast for retail sales is stronger for Asia than any other region. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We project Asian household incomes out to 2030, taking in assumptions for shifting tastes, as well as the emergence of niche and home-grown brands. Asia’s wealthy elite is driving luxury growth so far, but it is the burgeoning aspirational middle class who will provide market depth,” it said. The reports show that the number of Asian households with annual income of over $150,000 would rise from 2.5 million to around 27 million by 2030. China alone would have 12.7 million of such households. The expanding middle class would be the main buyer of luxury goods sales. By 2030, there would be over 270 million households with income Read More …

US defense chief here next week

 News
Aug 242013
 
US defense chief here next week

By Nikko DizonPhilippine Daily Inquirer 7:59 pm | Saturday, August 24th, 2013 U.S. Defense Secretary Chuck Hagel speaks at a Pentagon news conference in Washington. (AP Photo/Evan Vucci) MANILA, Philippines – US Defense Secretary Chuck Hagel will meet with President Benigno Aquino III next week to discuss the ongoing negotiations for increased presence of American soldiers in the Philippines, the US Department of Defense said in a statement released Friday (Saturday in Manila). Hagel will also be meeting with his counterpart, Defense Secretary Voltaire Gazmin, and Foreign Secretary Albert del Rosario during his two day visit on August 29-30. The agreement that would pave the way for more US troops to be stationed in the Philippines and give them access to the military facilities is being presented to Filipinos by the Philippine government as a deterrent to China’s increasing presence in the West Philippine Sea, the part of the South China sea that the Philippines claims to be within its exclusive economic zone. The Philippines and China continue to be locked in a territorial dispute, particularly over Panatag Shoal off Zambales province and the Ayungin Shoal in the Kalayaan Island Group or Spratlys. According to the US statement, Hagel will talk to President Aquino, Gazmin, and Del Rosario “about ongoing negotiations for a framework agreement that would allow US forces to operate on Philippine military bases and in Philippine territory and waters to help build Philippine armed forces capacity in maritime security and maritime domain awareness.” The US had maintained Read More …

Talks begin for more U.S. troops in PHL

 Entertainment
Aug 152013
 

MANILA, August 14, 2013 (AFP) – The Philippines and the United States began talks on Wednesday aimed at allowing a bigger U.S. military presence on the soil of its key Asian ally, amid tensions with China. The talks aim to draw up rules for more rotational, or temporary, deployments of US forces and military assets in the Philippines. The […]

Filipino victories in basketball and math

 News
Aug 122013
 
Filipino victories in basketball and math

By Benjamin Pimentel 2:20 pm | Monday, August 12th, 2013 SAN FRANCISCO – Gilas Pilipinas just wrapped up an incredible run at the Asian championship. They deserve all the praise they’ve received, despite not winning the gold. The last time the Philippines won the Asian championship was in 1986. Before that, the Philippines last won in 1973 when the country was still indisputably a dominant force in Asian basketball. I remember the ’70s when the only teams we had to worry about were Japan and South Korea. But then other countries caught up and got stronger, led by China. That put an end to those years of Filipino basketball dominance. But this year’s victories show that the country can steadily rebuild and adapt to a more competitive world of basketball. And that’s probably true in another arena: math. Filipinos know about the exploits of Jason Castro and Jimm Alapag, but have probably not heard of Jan Kendrick Ong and Naomi Anne King. They’re among the Filipino kids who won gold medals at the recent Singapore International Mathematics Contest. Gilas Pilipinas grabbed the silver at FIBA Asia. These Filipino children reaped 23 golds, 45 silvers and 93 bronze medals. And they beat the country that has long dominated this competition, China. It’s an inspiring victory, one that the country can build on to improve math education in the country and most important of all, to get young people excited about math, and even science and technology, in general. Getting people excited Read More …

Purisima urges retailers to source materials locally

 Economy
Aug 082013
 
Purisima urges retailers to source materials locally

MANILA, Philippines – Philippine retailers should source materials for their products locally in order to contribute to economic growth through improved income of more people and stronger domestic consumption, a cabinet official said. Speaking at the 22nd National Retail Conference, Finance secretary Cesar Purisima said retailers have a role to play for the country to sustain its strong economic growth. He said that while the country has seen economic gains during the past three years, it now faces the challenge of sustaining the strong investor confidence and positive economic performance in the coming years. “Instead of doing the easy way by ordering from China or importing from abroad, (you retailers should) start looking at how you can engage Filipino suppliers,” he said. For instance, Purisima said those in the food business should source their vegetables locally by engaging with Filipino farmers and telling them to produce according to their requirements. By sourcing locally, retailers could help local suppliers by providing them a market, as well as helping them earn more. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Helping them earn more in turn would enable them to consume more goods, which would also be beneficial to retailers. Purisima said that to encourage retailers to engage with local suppliers for their products, the Department of Finance (DoF) is open to providing perks or assistance such as duty-free importation of capital equipment as well as building infrastructure, making credit available and providing training. The DoF however, does not support providing Read More …

Decade-long Australia mining boom turns to bust

 Economy
Aug 062013
 
Decade-long Australia mining boom turns to bust

In this photo taken on Thursday, June 13, 2013, a worker stands at Coppabella coal mine, southwest of Mackay city, Queensland state, Australia. Falling coal prices have hastened the closure of some financially marginal mines in the region and shed thousands of jobs. AP MACKAY, Australia  — The Australian mining boom built over a decade on Chinese hunger for energy and raw materials is turning into bust for many business owners as China’s cooling growth reverberates through a country accustomed to winning from the rise of an Asian economic giant. Endowed with vast mineral resources, Australia has been the envy of the Western world for avoiding recession during the global financial crisis while other wealthy countries drowned in debt. But the country now faces a potentially painful transition as it weans itself off a heavy reliance on its two biggest exports, coal and iron ore. Australia’s dilemma underscores that China’s long run of supercharged growth has given it enough weight in the world economy to create not only winners, but losers too when its own fortunes change. Trade between Australia and China equaled 7.6 percent of Australia’s $1.5 trillion economy last year, a dramatic threefold increase from a decade earlier, according to an Associated Press analysis of trade data. During that time, mining companies gushed multibillion dollar profits while jobs as mundane as maintenance commanded salaries above $120,000. Now the downside of that tight embrace is being felt across Australia’s mining heartlands and in its bustling cities. The number of Read More …

No one can contain China, scholar says amid territory rows

 News
Aug 062013
 
No one can contain China, scholar says amid territory rows

Agence France-Presse 7:49 pm | Tuesday, August 6th, 2013 BEIJING — No one can contain China’s rise, a leading Beijing foreign policy thinker said Tuesday, warning Manila and Tokyo that they had been mistakenly emboldened by Washington in territorial disputes with his country. China is embroiled in a bitter row with Japan over disputed islands in the East China Sea, and also claims almost the whole of the South China Sea, where it has engaged in standoffs with Philippine forces. At the same time the Obama administration is engaged in a “pivot” to Asia. But Ruan Zongze, vice president and senior fellow at the China Institute of International Studies, said: “No one in this world will try to contain China and no one in this world is capable of containing China. “Since the United States has adopted this new strategy of returning to the Asia-Pacific region, some countries have made the wrong judgement that the US will encourage them to challenge the sovereignty and territorial integrity of China,” he added. “This is a misjudgement on their part.” Ruan, who has served as a diplomat in the United States and Britain, was speaking at an event organized by the All-China Journalists’ Association, a state organization. The US has defense treaties with both Japan and the Philippines, and Ruan blamed Washington for emboldening them. It had sold weaponry to the Philippines following tensions between Beijing and Manila over a disputed shoal in the South China Sea, he said. “This has intentionally or Read More …

PHL acquiring French vessel for West PHL Sea

 Entertainment
Aug 062013
 

MANILA  (Mabuhay) – The Philippines said Saturday it is purchasing a surplus French Navy vessel to boost its forces in the West Philippine Sea (South China Sea) where it has an ongoing territorial dispute with China. The 26-year-old “La Tapageuse” vessel is likely to be the first of several French ships that will be acquired by […]

DFA rejects anew China’s ‘indisputable claim’ over West Philippine Sea

 News
Aug 062013
 
DFA rejects anew China’s ‘indisputable claim’ over West Philippine Sea

By Matikas SantosINQUIRER.net 4:13 pm | Tuesday, August 6th, 2013 DFA spokesman Assistant Secretary Raul Hernandez INQUIRER.net FILE PHOTO MANILA, Philippines – The Department of Foreign Affairs (DFA) rejects China’s “indisputable” claim over the entire West Philippine Sea (South China Sea), including parts of the country’s 200-mile Exclusive Economic Zone (EEZ) – the “core issue” of the territorial dispute between the two countries, a spokesman for the DFA said Tuesday. “We once again redirect China to the core issue which is its claim of indisputable sovereignty over nearly all of the South China Sea under its ‘nine dash line’ position,” said assistant secretary Raul Hernandez. “The Philippines has asserted before the Arbitral Tribunal, to which China has been invited but has refused to participate, that the nine dash line claim is expansive, excessive and in gross violation of international law,” he told reporters. China’s nine dash line encompasses nearly the entire West Philippine Sea including the Spratly’s group of Islands near Palawan and Bajo de Masinloc (Scarborough Shoal or Panatag Shoal). It also encroaches into the EEZ of Vietnam, Malaysia, and Brunei, among other Southeast Asian countries. Chinese Foreign Minister Wang Yi proposed three ways to solve the territorial dispute between individual countries. First was the bilateral talks between parties directly involved, second was for the implementation of the “Declaration of the Conduct of the South China Sea” for peace and stability, and third was to look for ways of common exploitation that would economically benefit all concerned parties. China Read More …

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