Now the entire press in the democratic world is blaming President Duterte for Rappler’s shutdown, calling it repression of press freedom. ADVERTISEMENTMr. Duterte, ever the macho man, had to defend the SEC decision since the agency is under the executive department. If I knew the President, he wouldn’t order the closure of any news outfit no matter how critical it is of his administration. In street lingo, such a gesture is called “sipsip.”The issue of Special Assistant to the President Bong Go being dragged into the Navy mess is not of his own making but that of Defense Secretary Delfin Lorenzana. Trivia: President Duterte was honored on Sunday by his high school classmates from Ateneo de Davao’s Class of 1962 during a reunion at Marco Polo Hotel in Davao City.
Source:Philippine Daily Inquirer
January 22, 2018 21:00 UTC
If you had been offered a lot on C-6 Road in Taguig City for a temptingly low price, your money could end up literally down the drain. The local government issued a warning on Monday against a scam involving the sale of parcels of land by the highway that runs along the shoreline of Laguna de Bay. On Dec. 23, 2017, supposedly Fuentes’ birthday, around 60 land buyers were told to assemble at a site in New Lower Bicutan for the “inauguration” of their future community on C-6. “One of them said he didn’t know it was a scam, after buying two lots from Belen [Inc.],” Ignacio recalled. Ignacio said the city council would meet to discuss the legal actions to be taken against Fuentes and her company.
Source:Philippine Daily Inquirer
January 22, 2018 21:00 UTC
A consumer group has asked the Supreme Court (SC) to halt the implementation of the Tax Reform for Acceleration and Inclusion (Train) Act, claiming that the law was causing “irremediable injury” to consumers. Laban Konsyumer, Inc. filed a petition for certiorari with an application for a temporary restraining order against Republic Act 10963, which it said also violated the Constitution by going against equal protection provisions. The government has touted the Train law’s approval and implementation as a major step forward for economic development, with revenues to be particularly used for a massive infrastructure program. Among others, it argued that higher excise taxes on kerosene, diesel, coal and cooking gas would particularly affect the poor and disputed the inclusion of a coal tax as it did not originate from the House of Representatives as mandated by law. Laban Konsyumer also expressed support for the claim that there was a lack of a quorum when the House passed the bill last December.
THE Wholesale Electricity Spot Market (WESM) will have by June a new and independent market operator (IMO) that’s separate from current operator Philippine Electricity Market Corp. (PEMC), the Department of Energy (DoE) said on Monday. According to him, the incorporators should not have any interest in or ties to the spot market. The creation of the IMO shall come 16 years after the implementation of Republic Act 9136, or the Electric Power Industry Reform Act of 2001 (Epira). This law mandates that the entity operating WESM shall be autonomous and made up of the DoE and representatives from the power industry. Cusi’s statement came a month after PEMC spokesman Francis Saturnino Juan said they already have the blueprint for endorsing the WESM operations to an IMO.
The stock market moved closer to breaching the 9,000 level on Monday, notching a new all-time high ahead of the government’s release of 2017 economic growth data. “The credit impulse—derived from data on bank lending to the real economy until end-November 2017—suggests more support for private spending growth than in [the third quarter],” he added. Managing Director Astro del Castillo said investors had repositioned themselves ahead of the GDP data release. Analysts were upbeat regarding government spending, which is expected to have picked up as the year ended. An acceleration is expected this year given the implementation of a tax reform law, revenues from which will be used for the “Build Build Build” program.
PETRON Corp. has completed the issuance of $500 million worth of undated unsubordinated capital securities that are set to be listed on the Singapore Exchange. “[T]his is to advise that the Company has completed today the issuance of US Dollar undated unsubordinated capital securities with an issue size of US$500 million. The oil company earlier said net proceeds from the issuance would be used for the repurchase, refinancing, or redemption of its outstanding undated subordinated capital securities, the repayment of debt, and for general corporate purposes including capital expenditures. Petron earlier said it would repurchase up to $350 million of its $750-million outstanding undated securities listed on the Stock Exchange of Hong Kong (HKEx), after receiving the nod of its Executive Committee to make a tender offer to holders of the 7.5-percent capital securities. One analyst said Petron’s issuance of new notes to finance a partial buyback of its outstanding securities should boost their equity portfolio.
January 22, 2018 17:03 UTC
In actual numbers, the size of the Chinese economy exceeded $12.5 trillion by the end of 2017, smaller than US GDP of roughly $19.5 trillion. However, China’s National Bureau of Statistics reported that, if calculated in purchasing power parity terms, the Chinese economy already exceeds $20 trillion. Both the World Bank and IMF have used PPP to calculate China’s GDP and, using that methodology, China’s economy is already bigger than that of the US. Not surprisingly, China’s image internationally has been improving. Of the four countries surveyed by Gallup on leadership, Germany stood at the top with 41 percent approval rating.
Last time we checked, Secretary Alan Peter Cayetano was in charge of foreign affairs, while Secretary Delfin Lorenzana handled national defense. But the diplomatic action over the island activities—that was up to the Department of Foreign Affairs, not the Department of National Defense. Moreover, the United Nations Convention on the Law of the Sea, or Unclos, does not accord territorial waters to shoals and other marine outcrops. Soon after, he sparked the first controversy over Chinese research at Benham Rise, now Philippine Rise. And the President disclosed that he gave permission for Chinese research in Benham Rise.
While the banking sector may be upgrading their cyber security systems, cyber criminals are also hard at work trying to find a chink in the banks’ armor. The BSP guidelines, however, mainly left it to the banks and financial institutions what advanced technology, cyber security controls and countermeasures to adopt and implement. And as the country’s central monetary authority, the BSP ought to take the lead in combating online fraud by imposing clear and specific cyber security standards that financial institutions should comply with. For instance, all financial institutions should be required to use a two-factor authentication (2FA) for all online transactions, whether for purchases or ordinary banking services. There’s no reason why our banks and financial institutions should not be required to do the same, more so that it’s our money they’re holding.
“The mischiefs of faction,” courtesy of James Madison, is a second idea from America’s beginnings that merits useful study in understanding our national situation today. “Travails” is an English literary term that denotes the difficulties that are experienced as part of a particular situation. Particularly hard on her fellow justices, who have testified to violations of the Constitution and court regulations during her watch. Inquirer columnist Randy David says as much in his column (“Rappler and press freedom,” Philippine Daily inquirer, January 21, 2018). Did the SEC violate the press freedom of Rappler?
They are vital to ensuring that the nation will continue to enjoy the all-important dividend from its young demographics. But it is also neither wise nor prudent to throw money at the challenge as a matter of policy. First, doubling the salaries of teachers this year will require an additional P343.7 billion recurring cost for the national government. The salary issue should be framed in the light of the progressive improvement of the salaries of teachers in recent years, and their projected continued advance in coming years. The DBM explains that the take-home pay of teachers was already raised this year when the third tranche of the Salary Standardizaton Law (SSL) was implemented.
CEBU, Philippines — The Orlando Magic parlayed a big third quarter into a 103-95 upset of the Boston Celtics on Sunday, their third win in 20 games coming against the NBA’s Eastern Conference leaders. Elfrid Payton scored 22 points for the Magic, who had lost their last 14 games in Boston in a skid stretching back to February 2010. Jaylen Brown scored 17 points and Marcus Morris finished with 12 to score in double figures for the fourth consecutive game for the Celtics. Sportshub ( Article MRec ), pagematch: 1, sectionmatch: 1“We haven’t played consistently on both ends for a while now,” Celtics coach Brad Stevens said. The Celtics trimmed the deficit to seven points on Al Horford’s hook shot with 1:13 remaining.
January 22, 2018 16:30 UTC
But for consumers who benefited from a low of $44 per barrel crude price last year, the translation at the pumps of $63 per barrel today is jarring. They may have a slightly higher take-home pay, but the cost of a number of essential goods also increased. Over the long term, should the government’s Build Build Build program really strengthen the Philippine economy with massive infrastructure projects, then all these “inconveniences,” including worsened traffic in the metropolis, would be worth the wait. ‘Lost’ revenuesOne surprising development in the government’s Tax Reform for Acceleration and Inclusion Act (TRAIN) is regarding automobile taxes. If the government was intent on raising revenues for its Build Build Build program, why lower taxes on luxury vehicles?
January 22, 2018 16:30 UTC
“Stop journalism in the country.”The strategy became evident almost from the moment Duterte took office. On April 27, 2017, Duterte threatened the TV network ABS-CBN. The proposal is to insert the phrase “responsible exercise” into the passage that safeguards freedom of speech and expression, press freedom, and the right of people to assemble and petition the government. In May 2017, former sexy dancer Mocha Uson was appointed assistant secretary of presidential communications. The wish to “kill journalism” in the Philippines stems from the warped mindset of the country’s leader.
January 22, 2018 16:18 UTC
STILL stung by claims the effort to revise the 1987 Constitution will prolong his stay in power and lead to strongman rule, President Rodrigo Duterte on Monday told soldiers to shoot him if he became a dictator. Under the Constitution, President Duterte’s term ends on June 30, 2022. He never moved beyond the First Quarter Storm,” he added. But Roque clarified that the conversation between Duterte and Sison was not a prerequisite for the resumption of the peace talks. “It is not as if the President said he is willing to resume with peace talks after he talks to Joma Sison.
January 22, 2018 16:18 UTC