THE UNITED STATES and the 10 members of the Association of Southeast Asian Nations (ASEAN) have agreed to “further deepen ties and job-promoting trade and economic opportunities” among them, the Office of the United States Trade Representative said.
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.
AN INTERNATIONAL telecommunications consortium has started building a $250-million submarine cable system that will directly connect Southeast Asia and the US, Globe Telecom, Inc., which is part of the group, said on Wednesday.
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 …
Ex-Enrile aide Gigi Reyes comes home. Sen. Juan Ponce Enrile’s former chief of staff Gigi Reyes arrives in Manila from the US early Saturday, April 19, 2014. Reyes is among those charged with plunder for the PDAF scam. Reina Anne Dimapawi A Malacañang official on Saturday said the return from the US of Sen. Juan Ponce Enrile’s former chief of staff Jessica “Gigi” Reyes helps afford her “due process.” “[Her return] will afford her the opportunity for the full application of her right to due process,” Malacañang spokesman Edwin Lacierda said. Reyes, a key personality in the multibillion-peso pork barrel scam and one of several people charged with plunder because of it, arrived at the Ninoy Aquino International Airport Terminal 2 via PR-105 from San Francisco, GMA News reported. “I’m facing the charges. I’ve always faced it,” Reyes quoted as saying upon her arrival. On April 7, Reyes’ representatives asked the Office of the Ombudsman to reconsider its decision to file plunder charges against her over the alleged P10-billion por barrel scam. Reyes claimed her constitutional right to due process was violated, and denied receiving any commission from Enrile’s Priority Development Assistance Fund (PDAF), popularly known as pork barrel. Last April 1, the Ombudsman found probable cause to indict Reyes, Senators Enrile, Ramon Revilla Jr. and Jinggoy Estrada, as well as alleged scam operator Janet Lim-Napoles, with plunder. The National Bureau of Investigation had alleged that Reyes had signed documents related to the release of Enrile’s pork barrel funds to Read More …
MANILA, Philippines – The Bangko Sentral ng Pilipinas sees no reason why the high level of foreign direct investments in January would not be sustained throughout the year, an official said yesterday. “The momentum can be sustained… I don’t see any reason why not,” central bank Deputy Governor Diwa C. Guinigundo told reporters. “For January, that was actually one of those challenging times when we experienced portfolio outflows because of the US Fed’s action, but nonetheless the more durable and more permanent type of investments came in,” he continued. Net FDI inflows summed up to $1.027 billion in January, its highest level in two years, latest BSP data showed. It was primarily driven by foreign companies lending to their local affiliates to finance operations and the expansion of their firms in the Philippines. “Moving forward, we believe that the economy will continue to grow and many of the macroeconomic stories will be the same, if not improved over time,” Guinigundo pointed out. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “So we expect that the same confidence will be maintained and our foreign direct investors will continue to come in,” he added. The BSP has forecast net FDI inflows to reach $2.6 billion this year, 33 percent below the actual $3.86 billion recorded in 2013. The lower net inflow projection was due to the US Federal Reserve’s scaling back of asset purchases, which has prompted investors to move back to advanced economies from emerging markets in anticipation of an Read More …
MANILA, Philippines – The Aquino administration welcomes the plan of the US government to allow the import of more Philippine mangoes other than those from Guimaras, especially now that local carriers have been allowed to fly to various destinations in America. Secretary Herminio Coloma Jr. said the national government is pleased with the news that the US now allows Philippine carriers to fly to different destinations in America, which would mean greater economic benefits for both countries. The US Federal Aviation Authority and the International Civil Aviation Organization had earlier upgraded to Category One the status of the Civil Aviation Authority of the Philippines (CAAP) following the country’s strict compliance with air safety rules. As a result, both flag-carrier Philippine Airlines and Cebu Pacific would be allowed more flights to more US territories, which likewise includes several countries in Europe. “If, in another front we get good news, then we welcome that news with total appreciation and we hope that it will result in even more beneficial outcomes to our farmers and to our industry,” Coloma told newsmen earlier. “Let us be aware that there is an entire spectrum of relationships in the international field—both multilaterally and bilaterally,” the head of the Presidential Communications Operations Office added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 News reports indicated earlier that mango industry representatives have until June 9 to respond to proposals from US plant health authorities on mangoes imported from the Philippines. If the proposals put forth by the Read More …
President Benigno S. Aquino III inspects the security arrangements and facilities at the domestic departure area, Terminal 3 of the Ninoy Aquino International Airport in Pasay City on Thursday (October 31) to ensure the safety of the passengers during the observance of All Saints’ Day and All Souls’ Day following the launching of DOTC’s Undas 2013 “Oplan Ligtas Biyahe.” (MNS photo) MANILA (Mabuhay) – After the country regained the much-coveted Category 1 status from the United States Federal Aviation Administration (FAA), Malacañang on Saturday assured the public that the government will ensure that the Philippine aviation upgrade will be sustained. In an interview aired on government-run dzRB, deputy presidential spokesperson Abigail Valte said the FAA will observe the country for the next two years “at sisiguraduhin na magiging mahigpit ‘yung ating pagsubabay doon sa mga guideline.” “Sinisigurado din naman po ng ating pamahalaan na hindi na po tayo magkaroon ng mga SSC, or ‘yung tinatawag po nilang Significant Safety Concern. So, may dalawang taon po tayo para ipagpatuloy po ‘yung ating mga hakbang at masiguradong hindi na po tayo mabalik sa Category 2,” she added. On Thursday, the FAA said the Philippines has complied with international safety standards set by the International Civil Aviation Organization (ICAO). “With the International Aviation Safety Assessment (IASA) Category 1 rating, the Republic of the Philippines’ air carriers can add flights and service to the United States and carry the code of US carriers,” it said. It said the return to Category 1 status is Read More …
Freddie Roach: “We are training for big game in this fight. Manny (Pacquiao, left) knows he is going to have to hunt Bradley down and close the show this time. The first fight with (Timothy) Bradley was so easy for Manny that after six rounds he just took it easy on him. Not this time. Our Mantra is ‘Close the show. No mercy.” MANILA (Mabuhay) – A day after he regained his WBO welterweight title, boxing champ and congressman Manny Pacquiao still faces a tough fight against Bureau of Internal Revenue (BIR) Commissioner Kim Henares. Henares once again reminded Pacquiao to settle his previous tax deficiency, which has now ballooned to an estimated P2.6 billion due to interest. Pacquiao’s tax deficiency was assessed at P2.1 billion as of December 2012, after the BIR discovered that he has not been paying income taxes in the Philippines on his winnings for his previous fights in 2008 and 2009. “As of December 2012, P2.1 billion. Pero may 2013, so 20% (interest) pa yan. Ngayon April, may 6.67% (interest) pa. So tumatakbo na yan… So yun P2.1 billion, madaragdagan ng P26.67% (interest). Estimate lang around P2.65 billion na (tax deficiency),” she said. During the boxing champ’s visit to the BIR last year, Henares said they discussed how he can settle his tax deficiency. “Alam niyo ho, bumisita siya sa amin last year. Sinabi namin kung ano puede niyang gawin but since bumisita siya, wala ho ulit kaming communication,” she said. Last January, Pacquiao paid Read More …
No firearms had been shipped out of the Philippines around the time US State Senator Leland Yee was said to be smuggling firearms from the country to the US, according to the Bureau of Customs. Just the same, reports of the supposed smuggling of firearms have prompted the BOC to review existing procedures in the exportation and importation of such weapons in the Philippines. “Wala kaming findings of declared (firearms shipment) nung time na iyon, supposedly out of Mindanao lumabas yung guns. Nag-check kami doon sa aming port collectors sa Cagayan de Oro as well as other ports, walang ni-report, walang dineclare na exports of firearms at the time,” BOC Commissioner John Philip Sevilla said on Monday. According to the Federal Bureau of Investigation (FBI), Yee was part of a conspiracy to deal firearms without a license. The firearms were supposed to be sourced from a separatist group in the Philippines. Yee was arrested in March on charges of corruption and alleged conspiracy to illegally trade in firearms. The FBI also claims that Yee has associates in the Philippines “trying to overthrow the current government.” “Ngayon, ang pinapa-check namin is ano ba yung mga existing procedures ngayon regardless of what port para masiguro natin na… hindi rin nakakalabas ng Pilipinas yung contraband,” Sevilla said. Sevilla admitted that the government is “focused” more on monitoring the importation rather than exportation of products in the Philippines. “This is a good reminder na ito pwede ring magkaroon ng illegal activity pagpalabas ng products,” Read More …