The Makati City judge who ordered the enforcement of an eviction order against Sunvar Realty Development Corp. (Sunvar) from the Mile Long property is among the top contenders for a post in the Sandiganbayan. At the voting of the Judicial and Bar Council (JBC), Mary Ann Corpus-Mañalac, presiding judge of Branch 141 of the Makati City Regional Trial Court, was short-listed for the post recently vacated by Justice Samuel Martires, who was promoted to the Supreme Court (SC). President Rodrigo Duterte had vowed to reclaim the property from the Prieto and Rufino clans, owners of the realty corporation. Aside from Mañalac, those being considered for the Sandiganbayan posy are judges Kevin Narce Vivero of the Antipolo City RTC, Olivia Escubio-Samar of the Malolos City RTC, Rosanne Fe Romero-Maglaya of the Quezon City RTC, and lawyer Josephine Capio Caranzo. Meanwhile, contending for the Court of Appeals (CA) post recently vacated by Justice Noel Tijam who was also appointed to the Supreme Court are judges Mary Angelene Quimpo-Sale of the Quezon City RTC, Ma.
AFTER three decades, we can look at Benigno (“Ninoy”) Aquino, Jr., the Yellow Cult’s central figure it worships as a hero and martyr, with unjaundiced eyes. He refused to be put under the knife at the Philippine Heart Center, built by the Marcos regime in 1975. The Marcos regime of course feared that if Aquino died of a heart attack in prison, it would be blamed. Aquino, in short, became a US pawn in its geopolitical strategies and, smart as he was, he knew this. In fact, the report by the CIA mentioned above implied Aquino’s slide to irrelevancy: “Aquino’s political position has been hurt by his long exile.
In turn, US Trade Representative Robert Lighthizer, a veteran Reagan administration trade hawk, opened an investigation against China under Section 301 of the Trade Act of 1974. A simple scenario was that a major trade conflict now overshadowed the US-China ties. Following Trump’s order, the Chinese commerce ministry complained that it represented “strong unilateralism” that violated the spirit of multinational trade agreements. Yet, that’s precisely what “America First,” Trump’s trade platform, is all about. However, President Duterte’s re-balancing of the Philippines’ foreign policy is likely to reduce adverse pressures in trade and investment.
As a malnourished child experiences stunted development, so does a nation deprived of infrastructure investment suffer stymied economic growth. That is why the Build, Build, Build program of the government to pave the way for the nation to reach the Golden Age of Infrastructure cannot be overemphasized. Budget Secretary Benjamin Diokno understands this conceptual framework quite well, considering he is first and foremost an economist and a professor of economics at the University of the Philippines. For this year alone, he said P858 billion has been allocated to infrastructure development. That will happen especially in Metro Manila, when construction starts and runs 24/7 in the next few years.
These included an outright ban on Qatari pilgrims from the Hajj. Qatari pilgrims’ plightMore than 20,000 Qatari nationals are reported to have registered for the Hajj this year. As a result of the siege, Qatar has been able to turn challenges into opportunities, the Ambassador said. In this, Qatar is communicating with the international community and international humanitarian organizations. “The State of Qatar has been ahead (of many others) in combating terrorism by all means.
“Such growth of 6.5 percent in the context of price stability is very much consistent with our potential output and that should convince us that overheating is quite distant at this point,” central bank Deputy Governor Diwa Guinigundo said. Overheating occurs when extended economic growth leads to higher inflation and manufacturers ramp up output, creating excess capacity, in a bid to capitalize on consumer wealth. While second-quarter real GDP growth stood at the lower end of the target range, Guinigundo said it was clearly very sustainable. The country’s primary income from the rest of the world grew by 8.6 percent compared with the 6.1 percent growth recorded in the previous year. From a monetary policy perspective, that gives us greater flexibility to take advantage of our existing monetary space,” Guinigundo said.
An analyst said the full-year payments balance could exceed the central bank forecast given the latest data. July’s deficit was the widest since the payments balance slipped to a $1.67-billion shortfall in November last year. “BSP’s foreign exchange operations remained driven by increasing market demand for foreign exchange largely to finance capital goods imports,” the central bank noted. Data on national government debt, the Bangko Sentral’s foreign exchange operations and related figures for July have yet to be released. In June, the central bank revised its 2017 BOP forecast to a deficit of $500 million from its previous projection of a $1-billion surplus.
TAIWAN technology company Asus said Saturday it was targeting the number four spot in the Philippine smartphone market after recording 42 percent growth in sales for the first half of this year. “Right now, we are not just looking for absolute quantities, but we are looking for our position (in the market) to be higher. According to him, Asus is confident of achieving that target with the launch of its newest offering, the Zenfone 4 series. We are particularly confident because this is the third year Asus is introducing Zenfone in the Philippines. At the Zenfone 4 series product launch, Asus highlighted the upgraded features of its smartphones for mobile photography.
The Department of Energy (DoE) has introduced a new policy scheme for awarding coal and oil exploration contracts in the country. Under the Philippine Conventional Energy Contracting Program, prospective investors no longer need to wait for any announcement that a certain area is open for exploration. This policy will replace the Philippine Energy Contracting Round-6 (PECR-6). During a budget briefing at the House of Representatives last week, Energy Secretary Alfonso Cusi said the new policy will accelerate the development of the country’s oil and coal resources. Previously, the Finance Secretary Carlos Dominguez implied the approval of PECR-5 contract were in the pipeline.
TECH giant Samsung officially launched in the Philippines over the weekend its newest camera called Gear 360 and its 2017 version of Gear VR. The new Gear 360 comes in a smaller size and was redesigned with an easy-to-grip body aside from being equipped with 4k resolution capability. Samsung said Gear 360 also has a Live Broadcast feature–users just have to pair the device with their smartphone or PC and choose a platform. It said Gear 360 can also support a micro storage device for up to 256 gigabytes, with battery power that can last up to 130 minutes. Gear VR, meanwhile, features lightweight engineering and foam cushions to prevent the edges from digging into the cheeks or the nose bridge.
Guidelines governing the submission of quarterly and annual reports by life insurance, non-life insurance and pre-need companies were recently issued for the purpose determining the financial sector’s health. In a statement released during the weekend, the Insurance Commission said the rules would be used for the compilation of the Other Financial Corporation Survey (OFCS). “The compilation of OFCS begins with the construction of the balance sheet for the OFCs sub-sector,” Insurance Commissioner Dennis Funa noted. “As part of this statistical undertaking, the Insurance Commission, in coordination with the BSP, developed three sets of reporting templates for life insurance, non-life insurance, and pre-need companies that will facilitate the consolidation and analysis of the OFCS,” he added. “In order to meet the additional reporting requirement of the IMF, the IC imposed the specific deadlines set forth under the Circular Letter addressed to all life insurance, non-life insurance, and pre-need companies,” Funa said.
SENATOR Joel Villanueva has cautioned the administration’s economic managers against having the hands of lawmakers tied into approving its pet tax reform measure. “The P413-billion increase could mark the biggest jump in tax collection, in nominal terms, in our country’s history,” the senator added. The Department of Finance estimates that at least P133.8 billion in additional revenues will be collected once the proposed Tax Reform for Acceleration and Inclusion (TRAIN) is passed. “At the most ‘optimistic’ outcome of the TRAIN, you would still be P240 billion short of the targeted P413 billion additional revenue. Congress then gets blamed for bigger deficits because we did not follow the executive,” the senator added.
The vacancies arose from the promotion to the Supreme Court of Associate Justices Noel Tijam and Samuel Martires earlier this year. There are two more vacancies in the CA and Sandiganbayan following the recent promotions of CA Presiding Justice Andres Reyes Jr. and Sandiganbayan Associate Justice Alexander Gesmundo to the SC. Reyes and Gesmundo took the posts vacated by retired SC Associate Justices Bienvenido Reyes last July and Jose Mendoza earlier this month. Senior Associate Justice Antonio Carpio chairs the second division with Associate Justices Diosdado Peralta, Estela Perlas-Bernabe, Alfredo Benjamin Caguioa and Reyes as members. The third division is composed of Associate Justice Presbitero Velasco as chairman and Associate Justices Lucas Bersamin, Marvic Leonen, Martires and Gesmundo as members.
PHILIPPINE shares are likely to trade higher this week following a holiday on Monday, analysts said, on account of positive economic data and earnings results. Higher government spending was said to be a primary driver. Online brokerage firm 2TradeAsia, in a note, said the market would take heed of consumption and state spending results. Immediate support is 7,030, resistance 8,100.”On Friday, the bellwether Philippine Stock Exchange index lost 56.02 points or 0.69 percent to settle at 8,016.73. The wider All Shares declined 26.05 points or 0.55 percent to finish at 4,734.84.
PRESIDENT Rodrigo Duterte urged Filipinos to strengthen the legacy of the late Senator Benigno ‘Ninoy’ Aquino Jr. by promoting solidarity and patriotism “especially in these troubling times.”“I join the Filipino people in commemorating the 34th death anniversary of Benigno “Ninoy” Aquino Jr. Through his words of wisdom, let us reflect on his life and realize that, indeed, the Filipino is worth dying for,” the President said on Sunday. Duterte described the late senator, who was a journalist before he became a politician, as having effected “positive and meaningful changes in our society.”COLOR OF THE DAY. Yellow santan flowers in full bloom adorn the bronze monument of the late Senator Benigno ‘Ninoy’ Aquino Jr. on the eve of his 34th death anniversary at the intersection of Bonifacio Drive and Padre Burgos St. at Manila’s Rizal Park. “Even at a time when hope was lost, he remained steadfast in his struggle to restore democracy through non-violent means.