The Bangko Sentral ng Pilipinas (BSP) has given Manulife Asset Management and Trust Corp. the green light to engage in trust and other fiduciary businesses in the Philippines, the firm announced on Tuesday. It said it would bring an initial offering of unit investment trust funds to investors in the third quarter of 2017. “The Philippines is a promising market for the asset management industry given the rapid growth of the middle class population. We have, over time, already built a strong book of business in the Philippines through our investment-linked products,” he said. Ryan Charland, president and chief executive officer of Manulife Philippines, said the new asset management and trust business would give Filipino clients a wider set of options.
June 27, 2017 16:18 UTC
LISTED retailer Robinsons Retail Holdings, Inc. (RRHI) said Tuesday it is allocating P4 billion for its capital expenditure (capex) program this year in line with its goal to expand its presence nationwide. Gokongwei-Pe said RRHI’s supermarkets business, which is almost half of its business, remains the most profitable among all its segments. Last year, RRHI allocated P3 billion for capex excluding mergers and acquisitions. For this year, the company is planning to achieve sales growth of 2 to 4 percent given the additional stores slated for construction. Incorporated in 2002, RRHI is owned by the Gokongwei family and was set up to operate its six retail businesses—supermarkets; department stores; hardware stores; convenience stores; drug stores; and specialty stores.
June 27, 2017 16:18 UTC
Pacquiao went through the motions with his head trainer Freddie Roach, and put on a one-hour show. For some members of the Australian press, it was the first time to see Pacquiao up in the ring. Before the media workout, the Filipino senator faced the press for questions. She asked Pacquiao if he was “ready to be educated” by Horn on Sunday. Also, I’m a teacher – in the ring,” said Pacquiao, in his boxing attire and a Golden State Warriors cap.
BRISBANE, Australia – Freddie Roach won’t think twice pulling the plug if Manny Pacquiao struggles against Jeff Horn at the Suncorp Stadium on Sunday. That’s even if Pacquiao, a 38-year-world champion, wins the fight. When asked what would disappoint him most this coming Sunday, Roach said it would be a fight wherein Pacquiao would be seen struggling inside the ring. ““He has quite a few fights (left) and were getting close to the end I know,” said Roach, who’s just happy to see the old Pacquiao in training. I expect the best of Manny in this fight,” Roach added.
BRISBANE, Australia – Freddie Roach has seen Manny Pacquiao feeling his opponent’s power early in a fight, and he won’t be surprised if the Filipino icon will take the same risk on Sunday against Jeff Horn. On Sunday when he stakes his WBO welterweight champion against Horn, Roach is bracing to witness the same scene. Horn is known to possess a powerful overhand right, which his camp claims will be the key weapon against the southpaw Pacquiao. Pacquiao, for his part, would love to find out if Horn’s power is for real. He will go to the ropes and test somebody’s power.
We do not negotiate with terrorists,” Secretary Jesus Dureza, presidential adviser on the peace process, told the Inquirer by phone. ADVERTISEMENT“[The] government’s policy not to negotiate with terrorists remains,” Abella told reporters in Malacañang. He said the talks on Sunday between Muslim emissaries, including religious leaders, and the Maute terrorists were not sanctioned by the government and the military. The authorities believe Suganob and about 200 other Christians are being held by the Maute and Abu Sayyaf fighters as human shields. The force of the terrorists’ response surprised the military, leading the government to lose not just Hapilon, but also control of the city.
Source:Philippine Daily Inquirer
June 27, 2017 16:18 UTC
Geng noted that since the “turnaround in the bilateral relationship” in 2016, both the Philippines and China have further deepened political mutual trust and was able to mend other political issues. But Cayetano, the newly appointed DFA chief, has earlier said that he may not be convinced enough that the COC should be legally binding. Now, the question, if it's legally binding, which court can the parties go to? He said that if the country insists on the claim as “legally binding” the threat of instability can affect the economy of Asean. “So, many, many countries want it to be legally binding.
LAWMAKERS on Tuesday said Congress had ample time to pass a bill postponing the barangay and Sangguniang Kabataan elections on Oct. 23 this year. “We still have enough time to postpone the barangay and SK polls. Barbers is chairman of the House committee on dangerous drugs and author of House Bill 5359 that seeks to postpone the elections. Deputy speaker and Batangas Rep. Raneo Abu said the postponement of the barangay elections would be in support of President Rodrigo Duterte’s campaign against illegal drugs. “Remember: Our barangay officials are the people’s first line of defense in the grassroots level and they should protect society from the drug menace.” AFPBarbers aside, Reps. Lord Allan Velasco of Marinduque and Jose Panganiban Jr. of ANAC-IP party-list filed HB 5361 and 5380, respectively, to postpone the barangay elections in October.
THE government on Tuesday ruled out negotiations with the Maute group terrorists holed up in Marawi City. Presidential Spokesperson Ernesto Abella said the government policy not to negotiate with terrorists remains in place and that a meeting between local religious leaders and the terrorists on Sunday was not sanctioned. Abella said they were still verifying reports that Abu Sayyaf leader Isnilon Hapilon had fled Marawi City. The Justice department on Tuesday rejected a reported offer from the Maute terrorists to exchange their hostage, the priest, for the Maute parents. On Tuesday, the department indicted the two arrested Abu Sayyaf members believed to have provided medical treatment to wounded terrorists fighting government troops in Marawi City.
CHINA has donated P15 million for relief operations and the rehabilitation of war-torn Marawi City, Malacañang said Tuesday. Chinese Ambassador Zhao Jinhua presented the check for the donation to President Rodrigo Duterte. The money is expected to augment the resources of the Health and Social Welfare departments, the agencies spearheading various health and welfare operations in Marawi. As of June 26, Social Welfare had already spent P85.53 million for provisions like food packs, hygiene and dignity kits, kitchen utensils and tents for the affected families. The Health department has spent P52.03 million for health services including medical check-ups, immunizations, medicines, mental and psychosocial services as well as food and water.
PRESIDENT Rodrigo Duterte on Tuesday approved nine flagship infrastructure projects that will cost more than P738.08 billion as part of his administration’s infrastructure program. Those include automating business registration through mobile phones and making it more accessible to possible business investors. “After streamlining the procedure, [we’re] making registration very easy even from mobile phones, especially for the millennials who are getting into business. They could simply use mobile phones to register. The Mindanao Railway project Tagum-Davao-Digos segment (P35.26 billion) and the Clark International Airport New Terminal Building project (P15.35 billion) will be funded by public funds.
A police officer facing a string of cases, including extortion, was placed under arrest on Monday after he reported for duty at the Quezon City Police District (QCPD) headquarters in Camp Karingal. Last year, Cartagenas faced dismissal from the service after he and several policemen were involved in another extortion case in San Juan City in 2015. ADVERTISEMENTThe charge against him was later dismissed although he was recommended for transfer to Mindanao, a punishment he avoided by going AWOL (absent without official leave) from Aug. 17 to Sept. 2 last year. Moraleda was taken to the Anonas police station where Cartagenas was assigned at that time. However, Moraleda’s wife, who asked for anonymity for her own safety, told a different story to reporters.
Source:Philippine Daily Inquirer
June 27, 2017 16:07 UTC
MANILA, Philippines - Because of the “many changes” felt by Filipinos, Senate President Aquilino Pimentel III has given President Duterte a grade of 8.5 to nine for his performance in his first year in office. We determine our own course in international affairs,” Pimentel said. “If the overall incidence of crime went down, let us look at the murders – maybe it has gone up. I am urging the PNP that this is the improvement they can do for the second year of the Duterte administration,” Pimentel said. “Anything that flows from his mouth is actually not only national but international news as well,” he said.
MANILA, Philippines - Authorities have seized hundreds of bullets and gun parts from among donations intended for evacuees of Marawi City. Mutalib, a software engineer, earlier appealed for donations for the evacuees of Marawi City who were displaced by the fighting between government troops and extremist Maute group. While Mutalib was sorting the donations he received at his condominium unit in Mandaluyong City, he found the gun parts stashed in a black eco bag with “Lito Grey” markings on it. The item would have been sent to Marawi City evacuees through the Edicute Inc., a non-government organization volunteering to help the evacuees displaced by the hostilities in Marawi City. The United Arab Emirates, through its embassy in Manila, also distributed food baskets for the Marawi evacuees.
DND chief eyes end to siege by next monthMANILA, Philippines - From the rubble of war, a prosperous Marawi will rise. The military and the police remain hard at work to ending the crisis with dispatch, especially in Marawi,” Duterte said. The Task Force Bangon Marawi, composed of various agencies of the government, is being created to hasten recovery efforts in Marawi City. Duterte claimed that some of the fighters in Marawi could be his cousins. By SONADefense Secretary Delfin Lorenzana hopes the Marawi City conflict would end before Duterte delivers his second State of the Nation Address (SONA) before the joint session of Congress on the fourth week of July.