GROWTH in remittances likely slowed in February, ANZ Research said in a report, noting a sustained decline seen in funds sent by Filipinos in the United States as well as seasonal factors.
Apr 112016
Mar 082016
BENIGN INFLATION seen in February will allow the Bangko Sentral ng Pilipinas (BSP) to keep monetary policy settings unchanged during this month’s meeting, an economist from ING Bank NV said, as the markets also await fresh hints from the United States about the next “lift-off.”
Sep 202015
On July 13, 2015, the Philippines signed a reciprocal Intergovernmental Agreement (IGA) with the United States to implement the provisions of the Foreign Account Tax Compliance Act (FATCA). Signed into law in 2010 by US President Barack Obama as part of the US Hiring Incentives to Restore Employment (HIRE) Act, the FATCA aims to obtain information on US persons with offshore income and/or assets to increase compliance with US tax laws.
May 292014
HAMBURG — A group of animal feed makers in the Philippines has purchased 83,475 metric tons (MT) of soymeal to be sourced from the United States and Argentina in a tender that closed on Tuesday, European traders said on Wednesday.
Apr 142014
Cavendish bananas from Mindanao. INQUIRER FILE PHOTO ROME—The United Nations warned on Monday of the potential “massive destruction” of the world’s $5.0-billion (3.6-billion euro) a year banana crop as a plant disease spreads from Asia to Africa and the Middle East. The Rome-based Food and Agriculture Organization (FAO) said the TR4 strain of Panama disease, which has already hit tens of thousands of hectares in Southeast Asia, had been reported in Jordan and Mozambique. The disease is “posing a serious threat to production and export” of bananas, the fourth-most important food crop for the world’s least developed countries and a key revenue source for poor farmers, FAO said in a report. There is no cure for TR4, which particularly affects the Cavendish variety that accounts for 47 percent of world banana production—by far the biggest. The disease affects the trees but not the bananas themselves and the only solution is to cut down the trees, dig trenches between trees to prevent its spread and impose strict quarantine measures. Top producers in Latin America, including the world’s main producer Ecuador, have so far not been affected but FAO warned there was a “potential” risk. “I think it’s sheer luck. It’s not a question of whether it will arrive but when. There’s no prevention,” said Gert Kema, director of the banana research programme at Wageningen University in the Netherlands who manages the site panamadisease.org. Kema said the availability of bananas in Europe and the United States had not been affected by the Read More …
Apr 112014
The Great American Milk Drive Launches to Provide Local Food Banks with Gallons of Milk (photo screenshot courtesy of www..gotmilk.com) San Clemente, Calif. – That gallon of milk you consider a staple in your refrigerator is missing in many of California’s food banks. According to Feeding America, the nation’s largest domestic hunger-relief organization, milk is one of the items most requested by food bank clients, yet it is rarely donated. That will soon change with today’s launch of The Great American Milk Drive, the first-ever national program to help deliver highly desired and nutrient-rich gallons of milk to hungry families who need it most. Hunger impacts 1 in 6 Americans, including 12.5 million families who do not have access to adequate nourishmentto help them reach their full potential. The facts are even more alarming locally with 1 in 4 Californians suffering from poverty, the highest rate in any state. Over 6.5 million California residents experience food insecurity and due to the perishable nature of foods like milk, Feeding America food bank clients receive, on average, only one gallon of milk per person per year and obtain less than the suggested servings of milk to fulfill a well-balanced diet. To help combat this, Feeding America has teamed up with the dairy industry, including the California Milk Processor Board (CMPB), the creator of got milk?, to launch The Great American Milk Drive and alleviate hunger in local communities. “Food insecurity is a big problem throughout the United States, including for millions of Californians who Read More …
Apr 032014
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—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. And should this happen, international law expert and University of the Philippines law professor Harry Roque said, the result could be a war in Asia. “The result: the West Philippine Sea [dispute], unless China backs off, may trigger the biggest armed conflict in the region since the Vietnam and Indochina conflict,” Roque said in a statement. Roque noted that the Sierra Madre has always been described as a “derelict,” but the government recently described it as a “commissioned naval vessel.” A statement released by the Department of Foreign Affairs (DFA) on March 14 said, “The BRP Sierra Madre, a commissioned Philippine naval vessel, was placed in Ayungin Shoal in 1999 to serve as a permanent Philippine government installation in response to China’s illegal occupation of Mischief Reef (Panganiban Reef) in 1995.” The Philippines says Ayungin Shoal is part of its continental shelf, over which it has “sovereign rights and jurisdiction” and by pointing that the Sierra Madre is a commissioned ship, the Read More …
Mar 212014
THE PHILIPPINES and the United States have agreed to expand trade ties, the Office of the United States Trade Representative (USTR) said in a statement on Friday.
Jan 162014
By Matikas SantosINQUIRER.net 11:29 am | Friday, January 17th, 2014 US Embassy in Manila, Philippines. AP FILE PHOTO MANILA, Philippines – The United States (US) Embassy announced Friday that it will be closed on January 20 for Dr. Martin Luther King Jr. Day, an official American holiday. “The Embassy of the United States in Manila and its affiliated offices will be closed to the public on Monday, January 20, in observance of Dr. Martin Luther King Jr. Day,” it said in a statement. “The Reverend Dr. Martin Luther King Jr. (1929-1968), who is remembered in the United States on the third Monday of January each year, is perhaps best known as America’s chief spokesman for nonviolent activism as a result of his leadership role in the U.S. civil rights movement,” the Embassy said. King was awarded the Nobel Peace Prize in 1964 for his role in fighting racial inequality in the US through nonviolent means. He is most known for his speech “I Have a Dream” which he delivered before thousands of American demonstrators at the Lincoln Memorial in 1963. One of the most famous lines of his speech went: “I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.” “In 1983, President Ronald Reagan signed legislation into law making King’s birthday a federal holiday,” the Embassy said. King was born January 15, 1929. “In Read More …
Jan 162014
BEIJING — Chinese tech giant Huawei on Wednesday rejected suggestions its telecoms equipment is vulnerable to hacking and forecast a rise in 2013 profit of nearly 50 percent. Chief financial officer Cathy Meng rejected as “groundless” reports that Huawei equipment might be more vulnerable to security threats than telecoms infrastructure made by other companies. The German magazine Spiegel reported last month that the U.S. National Security Agency installed secret “back doors” in telecoms equipment made by Huawei and other companies. Earlier, some researchers said they found vulnerabilities in Huawei routers. “We have seen no incidents on networks due to security problems,” said Meng at a news conference. “A lot of reports say Huawei equipment has more vulnerabilities or is more easily breached. These reports are groundless.” Huawei Technologies Ltd., founded in 1987, has grown rapidly in developing countries but faces hurdles in the United States, where authorities have warned it might be a security risk. The company has rejected such claims as trade protectionism that it says hurts American consumers by limiting competition and raising the cost of telecoms equipment. Huawei expects a 2013 operating profit of 28.6 billion yuan to 29.4 billion yuan ($4.8 billion to $4.9 billion), according to Meng, the daughter of Huawei founder Ren Zhengfei. That would be an increase of 43 to 47 percent over last year’s operating profit of 19.96 billion yuan. Audited results are due to be released in the second quarter of the year. Business ( Article MRec ), pagematch: 1, sectionmatch: Read More …