THE PHILIPPINES, along with Malaysia, will suffer the most in Association of Southeast Asian Nations (ASEAN) given a further slowdown in China’s economy until 2020, according to a working paper from the Asian Development Bank Institute (ADBI).
THE ELECTRONICS industry is expected to post revenue growth of 10% in 2016 — double the 5% expansion projected this year — amid strong overseas demand and foreign companies setting up shop in the Philippines.
THE PHILIPPINES could benefit from China’s ongoing shift to consumption from investment, even as local exports continue to hurt due to Beijing’s sluggish production, a United Nations (UN) report released yesterday said.
CHINESE TOURISTS lost interest in Southeast Asia last year and local airlines are among those that absorbed the fallout from a territorial dispute with China, the Civil for Asia Pacific Aviation (CAPA) said.
THE PHILIPPINES needs to be “very very cautious” about becoming a member of China’s Asia Infrastructure Investment Bank (AIIB), President Benigno S. C. Aquino III said at a conference in Japan on Wednesday, with the government obliged to consider Beijing’s behavior in the Scarborough Shoal crisis of 2012, during which the Export-Import Bank of China (China EximBank) called in a loan that was to fund a rail line to Clark International Airport.
PRESIDENT Benigno S. C. Aquino III is scheduled to meet business groups during his four-day state visit to Japan, highlighting the prospect of trade agreements to be sealed during the trip, though security matters are also expected to come to the fore when he meets with leaders of the Japanese government.
MANILA — Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and stoking a shortfall in the global supply of ore.
Philippine Daily Inquirer 5:26 am | Tuesday, April 22nd, 2014 China was warned Thursday against trying to tow away the BRP Sierra Madre from Ayungin Shoal, as this could be considered an attack against the Philippines and prompt the United States to defend the country in keeping with their Mutual Defense Treaty. INQUIRER FILE PHOTO MANILA, Philippines–The fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas, or Pamalakaya, has assailed China for violating Philippine sovereignty by insisting that Ayungin Shoal (Second Thomas Reef) and eight other rock formations in the West Philippine Sea belong to Beijing. Pamalakaya vice chair Salvador France yesterday asked the Chinese government to “respect the Filipino people’s legitimate claim over these islets and the body of water where they are located.” He said the rock formations are inside the Philippines’ exclusive economic zone. France also asked Beijing to “demilitarize Ayungin Shoal and other areas occupied by Chinese military forces.” Chinese naval units “should also stop harassing Filipino fishermen trying to make a living in the West Philippine Sea,” France said. Aside from Ayungin Shoal, France was also referring to Panatag (Scarborough) Shoal, Mischief Reef, McKennan Reef, Subi Reef, Gaven Reef, Johnson Reef, Cuarteron Reef and Fiery Cross Reef. Pamalakaya also slammed the United States for “meddling in the current row between the Philippines and China.” Washington has been “manipulating all South China Sea-related issues to effectively promote increased US military presence in the contested waters,” it said. For its part, the Philippine government is “consistently playing Read More …
Japan Foreign Minister Fumio Kishida. AFP file photo MANILA, Philippines—Japan, which is facing similar security issues with China, has reaffirmed its support for the Philippine recourse to international arbitration over its dispute with Beijing involving territories in an area of the South China Sea, called the West Philippine Sea by the Philippines, citing its basis in international law. Japanese Foreign Minister Fumio Kishida has conveyed his government’s support for the Philippines’ filing of a case before a UN tribunal to settle its dispute with China as he reiterated Tokyo’s advocacy of the rule of law, the Department of Foreign Affairs (DFA) said in a statement. “Referring to the Philippines’ submission of its memorial in furtherance of the arbitration proceedings it has initiated relative to South China Sea/West Philippine Sea issues, Minister Kishida reiterated Japan’s support for the Philippines’ effort to seek a resolution grounded on international law, which is consistent with Japan’s own rule of law advocacy,” the DFA said. Kishida met with Foreign Secretary Albert del Rosario for talks at the former’s residence in Hiroshima on April 11. Hiroshima, which bounced back from the devastation wrought by an atomic bomb in 1945, hosted the 8th ministerial meeting of the Non-Proliferation and Disarmament Initiative (NPDI). The 12-nation regional grouping of ministers was formed in 2010 with the goal of a “world free from nuclear weapons” through advancing nuclear nonproliferation and disarmament processes, the DFA said. The Philippines joined the initiative in September last year. Bilateral cooperation During the meeting, Kishida Read More …
MANILA, Philippines – Commodities giant Glencore Xstrata Plc has finally sold its interest in Las Bambas mine in Peru, clearing the way for the company to determine the direction of its other copper assets such as the troubled Tampakan copper-gold project in Mindanao. Glencore has sold its entire interest in the Peruvian copper mine for $5.85 billion to a Chinese consortium composed of MMG Limited, Guoxin International Investment Corp. Limited and Citic Metal Co., Ltd. Glencore sold Las Bambas to secure the approval of Chinese anti-trust authorities for its merger with Anglo-Swiss miner Xstrata as copper-hungry China feared the merged entity would have considerable control over the world copper supply. The sale, which is expected to close in the third quarter of 2014, is still subject to the approval of state regulators as well as the shareholders of MMG Limited. Prior to the sale, Glencore has expressed interest in divesting its majority interest in the $5.9 billion Tampakan project consistent with its preference not to develop greenfield projects. The Tampakan project was initially included in the list of other copper assets projects that may be disposed of in the event that the Las Bambas mine is not sold. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Glencore’s minority partner in the project, Indophil Resourses NL, has expressed interest in acquiring full ownership of Sagittarius Mines Inc. (SMI), the operator of the prospective mine. Glencore holds a 62.5 percent interest in the the project operator Sagittarius Mines Inc. (SMI) while Read More …