Philippines optimistic to win case against China

 News
Feb 272014
 
Philippines optimistic to win case against China

By Matikas SantosINQURER.net 8:44 pm | Thursday, February 27th, 2014 Philippine Solicitor General Francis Jardeleza is confident and optimistic that the international arbitral tribunal hearing the maritime dispute case between Philippines and China will rule that the nine-dash line claim of China is invalid. MANILA, Philippines—The Philippines is optimistic and confident that it will win in its arbitration case against China, saying Beijing’s moves to pursue its territorial claims in the West Philippine Sea (South China Sea) are ‘invalid.” “We are here to prove that from the point of view of the rule of law, all of the actions and all of the claims of China are not consistent with the United Nations Convention of the Law of the Sea (UNCLOS) and therefore they are invalid,” Jardeleza said in a forum organized by the Philippine Society of International Law Thursday. “We are a small country but we plan to win big on this litigation,” he said. The Philippines is protesting the nine-dash line claim of China that covers nearly the entire South China Sea including parts of the country’s 200 nautical mile exclusive economic zone (EEZ). Under the UNCLOS, a country is entitled to a 200 nautical mile EEZ from the coastline where it has the sole right to exploit the maritime resources within. Former University of the Philippines (UP) College of Law dean Merlin Magallona said in the forum that China’s interpretation of UNCLOS was wrong and that is the reason for the Philippines seeking arbitration before the UN. “The Philippines’ basis is telling China that you are wrong Read More …

Solon wants PHL Coast Guard presence at Panatag Shoal

 News
Feb 262014
 
Solon wants PHL Coast Guard presence at Panatag Shoal

Coast Guard personnel should be deployed to the disputed Scarborough (Panatag) Shoal if the government wants to assert Philippine presence in the area being claimed by China as its own, a lawmaker said Wednesday. ACT-Teachers party-list Rep. Antonio Tinio said the Coast Guard’s presence at the shoal might deter Chinese authorities from harassing Filipino fishermen in the disputed waters. “The mere presence of government forces, even civilian forces there, will change the [situation] and can make the Chinese forces think twice before doing what they did,” Tinio said in a press briefing. “Siyempre dahil mag-isa lang, yung mga mangingisda natin doon, mas madaling nagawa yung pag-bomba sa kanila ng water cannon. Pero kung may puwersa ng gobyerno natin doon, baka maiba yung situwasyon,” he added. Armed Forces chief Gen. Emmanuel Bautista revealed on Monday that a Chinese coast guard vessel drove away two Filipino fishing vessels from the area last January 27 by firing water cannons at them. President Benigno Aquino III has demanded an explanation from China regarding the incident and directed the Department of Foreign Affairs (DFA) to file a “diplomatic message.” The Chinese Embassy in Manila, however, rejected the Philippine protest and declared it has “indisputable sovereignty” over the waters where the incident occurred. The Philippine government has declared that the shoal, which is facing the South China Sea, is within the country’s exclusive economic zone as mandated by the United Nations Convention on the Law of the Sea – an agreement signed by 163 nations, including Read More …

PH protests China water cannon attack

 News
Feb 252014
 
PH protests China water cannon attack

Philippine Foreign Affairs Department spokesman Raul Hernandez gestures as he answers questions from reporters during a press conference at Foreign Affairs headquarters in Pasay City on Tuesday, Feb. 25, 2014. The Philippines has called in a Chinese envoy to protest what it says was the firing of a water cannon by a Chinese government vessel on Filipino fishermen in a disputed shoal in the West Philippine Sea. AP PHOTO/AARON FAVILA MANILA, Philippines—The Philippines on Tuesday strongly protested China’s water cannon attack on Filipino fishermen in a disputed shoal nearly a month ago, citing how such acts “escalate tensions” and “threaten the peace” in the region. Lt. Col. Ramon Zagala, spokesman of the Armed Forces of the Philippines, told reporters that while the Chinese action was “alarming,” it did not warrant an immediate military response. “I don’t think it would be appropriate if we send the Philippine Navy at this time. It will just escalate the situation,” Zagala said. “Rest assured that the Armed Forces will do its mandate when the time comes.” The Department of Foreign Affairs (DFA) summoned Chinese Chargé d’Affaires Sun Xiangyang and presented a note verbale protesting reported incidents of harassment that Chinese vessels had committed to prevent Filipinos from fishing in Panatag Shoal, also known as Scarborough Shoal and Bajo de Masinloc, in the West Philippine Sea, or South China Sea. The protest was received by the chargé d’affaires. The new Chinese ambassador-designate, Zhao Jinhua, who arrived on Sunday night, has yet to begin officially his Read More …

Purchase of S. Korean fighter jets not due to China row — PHL Air Force

 News
Feb 212014
 
Purchase of S. Korean fighter jets not due to China row — PHL Air Force

The deal to purchase 12 units of FA-50 fighters from South Korea is mainly to upgrade the country’s air defense capability and not due to the rising tension in the South China Sea, the Philippine Air Force said Saturday. PAF spokesman Col. Miguel Okol on Saturday told GMA News Online in a text message: “It is for your defense as a whole not only because of a situation. Our defense department and we in the Air Force match up our capability upgrade on shortfalls and needs.” “In this case we are moving towards beefing up our external defense capabilities having prioritized internal security operations over the last 12 years,” he added. For his part, Defense spokesman Peter Paul Galvez said, “Plans to buy jets [had been done] and programmed way before territorial issues cropped up.” Brand new Galvez said the jet fighters to be bought from South Korea are “brand new units.” According to an earlier Reuters report, the Philippine government has reached an agreement with Korean Aerospace Industries Ltd. for 12 of the aircraft and would sign a contract before March 15. “This is a very important project together with the frigate of the Navy because of our objective of building a minimum credible defense,” Fernando Manalo, undersecretary of defense for finance, munitions, installations and materiel, told Reuters. For her part, Deputy presidential spokesperson Abigail Valte on Saturday said the country is one step closer to beefing up its air defense capability following Malacañang’s approval of the payment mode Read More …

Jollibee posts fastest profit growth in 7 yrs

 Economy
Feb 142014
 
Jollibee posts fastest profit growth in 7 yrs

MANILA, Philippines – Strong sales in existing branches and new stores drove fastfood giant Jollibee Foods Corp. (JFC) to its fastest earnings growth in seven years. In a regulatory filing, JFC said its net income jumped nearly a quarter to P4.64 billion in 2013 from P3.72 billion in 2012. Systemwide sales, which measures sales to consumers both from company-owned and franchised stores, picked up 12.8 percent to P104.9 billion from P92.27 billion. “The company increased its sales by 12.8 percent, the highest organic sales growth in six years, enabling JFC to breach the P100-billion sales mark for the first time,” said JFC chief operating officer and incoming COO Ernesto Tanmantiong. “Our progress in building the business has been taking place across our brands in different countries,” Tanmantiong said, adding the profit growth was the fastest in seven years. In the fourth quarter alone, JFC’s profits climbed 20.3 percent to P1.51 billion from P1.26 billion as systemwide retail sales rose 13.9 percent to P28.86 billion from P25.35 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Specifically, systemwide sales in the Philippines gained 12.2 percent, China by 19.2 percent, US by 17.2 percent, and Southeast Asia and Middle East by 35.3 percent. Tanmantiong said the fastfood chain opened 98 new stores in the fourth quarter, the highest number of new stores opened in one quarter in JFC’s 35-year history. In 2013, JFC spent P4.1 billion as it opened 235 new stores worldwide. “In the years ahead, we look forward to Read More …

Aquino likens China’s rulers to Hitler

 Entertainment
Feb 052014
 
Aquino likens China’s rulers to Hitler

“You may have the might, but that does not necessarily make you right,” Philippine President Benigno Aquino said as he warns China’s efforts to claim disputed territories are like Nazi Germany’s before World War II. By Karl MALAKUNAS MANILA, February 5, 2014 (AFP) – Philippine President Benigno Aquino has warned China’s efforts to claim disputed territories are like Nazi Germany’s before World War II, drawing a fierce Chinese response on Wednesday branding him ignorant and amateurish. In an interview with the New York Times, Aquino called for world leaders not to make the mistake of appeasing China as it seeks to cement control over contested waters and islands in the strategically vital South China Sea. “At what point do you say: ‘Enough is enough’? Well, the world has to say it – remember that the Sudetenland was given in an attempt to appease Hitler to prevent World War II,” Aquino told the New York Times in Manila on Tuesday. Aquino was referring to the failure by Western nations to back Czechoslovakia when Adolf Hitler-led Nazi Germany occupied western parts of the European nation in 1938 ahead of World War II. Aquino’s comments come less than two weeks after Japanese Prime Minister Shinzo Abe raised the temperature in a parallel territorial dispute with China by appearing to compare Sino-Japanese relations with the run-up to World War I. Japan and China are at loggerheads over the sovereignty of disputed islands in the East China Sea, raising fears about a military confrontation between Read More …

A touch of red helps global art market boom

 Economy
Jan 312014
 
A touch of red helps global art market boom

A Sotheby’s employee poses for photographers with ‘Wand’ by Gerhard Richter, center, ‘Mao’ by Andy Warhol, left, and ‘Rosso Plastica’ by Alberto Burri on display at the auction house in London. (AP Photo/Sang Tan) LONDON — Want to sell that masterpiece for a fortune? It might help if it’s red. That’s just one trend from an art market that has come roaring back from the global financial crisis, with buyers from emerging markets such as China molding tastes and driving top-end prices ever higher. Sales next week at London’s Sotheby’s and Christie’s auction houses are expected to generate at least 400 million pounds ($658 million) amid an insatiable global appetite for works by Picasso, Matisse and other modern masters. Sotheby’s put its works on public display in London Thursday, and there was a distinct scarlet hue to the star lots — Gerhard Richter’s cadmium-colored abstract “Wall,” expected to sell for at least 15 million pounds; an Andy Warhol portrait of Chairman Mao valued at 5 million pounds to 7 million pounds; a vivid red piece in molten plastic by Alberto Burri that could break the 3-million-pound record for the Italian artist. “When we’re pricing things we’re aware of the power of red,” said Alex Branczik, head of Sotheby’s contemporary art department in London. “Red is a color that incites passion. It’s the color of the sunset, it’s the color of blood,” he said. “I think it’s more primal than nationality, but I do think it has a special resonance for Read More …

‘Remarkable’ growth for PHL economy despite disasters

 Entertainment
Jan 312014
 
‘Remarkable’ growth for PHL economy despite disasters

By Mynardo Macaraig President Benigno S. Aquino III leads the ceremonial laying of the San Gabriel Power Plant Project time capsule in Brgy. Sta Rita, Batangas City January 14 that include Batangas Governor-turned actress Vilma Santos, among the many manifestations of continued economic growth in the Philippines. (MNS Photo) MANILA  (AFP) – The Philippine economy was one of the fastest-growing in Asia last year after shrugging off devastating natural disasters and expanding at a “remarkable” pace in the final quarter, the government said Thursday. The economy grew by 6.5 percent in the last three months of the year even as a super typhoon claimed thousands of lives and an earthquake struck popular tourist islands, Economic Planning Secretary Arsenio Balisacan told reporters. “This is a remarkable turnout,” Balisacan said, as he emphasised the final quarter expansion was expected to be the fastest in the Asia-Pacific after China, which recorded annual GDP growth of 7.7 percent last year. Growth for all of 2013 was 7.2 percent, the fastest since President Benigno Aquino came to power in 2010 and exceeding the government target of 6.0-7.0 percent. The government said the main drivers of growth were in the manufacturing, trade, real estate and finance sectors, while hailing the performance as further proof of Aquino’s economic stewardship. The Philippines endures relentless natural disasters because it is located along a typhoon belt and the so-called Ring of Fire, a vast Pacific Ocean region where many of Earth’s quakes and volcanic eruptions occur. However the final quarter Read More …

Tesla cars to have same base price in China as US

 Entertainment
Jan 252014
 
Tesla cars to have same base price in China as US

The Tesla Model SElectric carmaker Tesla Motors said its Model S flagship vehicle will have the same pre-tax price in China as in the US.©Tesla (SHANGHAI-AFP) – Electric carmaker Tesla Motors said its flagship vehicle will have the same pre-tax price in China as in the US, after Chinese media criticised foreign companies for charging higher prices in the country. The upstart US manufacturer’s Model S battery-powered car sells for $81,070 in the US and the company will receive the same sum for it in China, the world’s biggest auto market. Nonetheless the sticker price for the premium car will start from 734,000 yuan ($121,370), with the difference accounted for by $36,700 in taxes imposed by the Chinese government and shipping costs of $3,600, it said. Tesla’s openness over its pricing, which included an item-by-item breakdown of how it was reached, follows official moves and campaigns by state-run media against foreign companies for high prices in industries ranging from infant formula to pharmaceutical products. Last year, state broadcaster CCTV blasted Tata Motors’ Land Rover and Volkswagen’s Audi over higher prices in China than elsewhere. Tesla said the Chinese market could have absorbed a higher price for its cars and attacked rivals for charging more. “The price of a Model S in China is the same as the price of a Model S in the US, adding only unavoidable taxes, customs duties and transportation costs,” Tesla said in the statement. “If we were to follow standard industry practice, we could get Read More …

China ‘bully boy’ tactics scored

 News
Jan 222014
 
China ‘bully boy’ tactics scored

After a storm of criticism China upped its contribution to $1.8 million and dispatched its Peace Ark hospital ship (in photo), but the response paled in comparison to Japan’s $30 million, the United States’ $20 million—and even some private companies’. AP FILE PHOTO BEIJING—Mountains of Norwegian salmon left rotting at port. A beachfront resort in Palau abandoned before completion. A sluggish response to a devastating Philippine typhoon: crossing China’s “red lines” can have painful economic consequences. Beijing is looking to build up its political and diplomatic status as a “major responsible country” commensurate with its global economic position, and improve its cultural reach worldwide. As well as the world’s second-largest economy, China is its biggest trading nation in goods and Africa’s biggest trading partner, a fact highlighted last week by Japan’s attempt to present itself as a competitor on the continent. But experts say Beijing’s tactical moves toward smaller countries risk backfiring against its broader strategy. Beijing has sought to punish Norway since the 2010 Nobel Peace Prize was awarded to jailed dissident and prodemocracy activist Liu Xiaobo—despite Oslo having no control over the prize committee’s decisions. Strict new import controls left Norwegian salmon wasting away in Chinese warehouses, and its market share in the country, once 92 percent, plummeted to 29 percent last year. A musical starring Norwegian 2009 Eurovision winner Alexander Rybak had its tour canceled, and Norwegians are excluded from China’s 72-hour transit visa schemes. Bully boy tactics “The ‘bully boy’ tactics that China has adopted, especially Read More …

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