The Philippines can learn a lot from the way China has developed its infrastructure, a World Bank official said on Friday. “China’s approach … could be emulated in the Philippines during the implementation of the government’s ‘Build Build Build’ program,” World Bank country director Mara Warwick said during The Manila Times 6th Business Forum at the Marriott Hotel in Pasay City. China, she said, placed a lot of emphasis on developing a system for infrastructure delivery over the past three decades. Local capacity, said Warwick, is a key constraint in the Philippines and was also an issue in China. The “Build Build Build” program was the subject of Friday’s forum, which carried the theme “Philippines 2021: Toward the Golden Age of Infrastructure.
The Duterte administration’s thrust to ramp up public spending has resulted in much lower state underspending, Budget Secretary Benjamin Diokno said on Friday. We only underspent by P6 billion for the first half of 2017,” Diokno said during The Manila Times 6th Business Forum at the Marriott Hotel in Pasay. In contrast, he said that previous results — albeit for the full year — was underspending hitting P302 billion in 2014, P328 billion in 2015 and P96.3 billion last year. Diokno noted that this year, government targets to spend P858 billion or 5.4 percent of gross domestic product on infrastructure development this year. The Duterte administration’s “Build, Build, Build” program was the subject of Friday’s forum, which carried the theme “Philippines 2021: Toward the Golden Age of Infrastructure.
PATRICIA Bautista continued this week her exposé on the unexplained wealth of Commission on Elec-tions (Comelec) Chairman Andres Bautista. Of course, there were allegations of election fraud in each and every election that used Smartmatic technology, whether it was the precinct count optical scan (PCOS) machines or the vote counting ma-chines (VCMs). However, instead of stopping election fraud, it in fact abetted the alleged Comelec syndicate engaged in whole-sale election cheating. One can cheat, or hack the voting machines, or tamper with the election results, without conspiring with the BSP. Comelec syndicate can change election resultsContrary to Macalintal’s baseless conclusion, the Comelec syndicate does not need the cooperation of the regional directors, the provincial election supervisors, and all the people involved in the operations of the AES.
The United States Embassy on Friday said the Philippines was not yet eligible for a new Millennium Challenge Compact, clarifying a report that identified it as a candidate country. “MCC (Millennium Challenge Corp.) recently posted its annual ‘Candidate Country Report’ for Fiscal Year 2018.” Press Attache Molly Koscina said. “The Philippines is a candidate country for FY 2018 given its income level.”Koscina stressed that candidate countries are not necessarily eligible for MCC assistance. The Millennium Challenge Act of 2003 sought to set up a new development assistance system, with countries to be selected based on several indicators. Eligible countries are able to pick their priorities and are allowed to manage the grants.
HONG KONG: Asia stocks extended a global sell-off Friday after a deadly Barcelona rampage claimed by the Islamic State jihadist group compounded mounting fears over policy paralysis in Washington. Markets from Wall Street to Europe were caught in a renewed downturn after a deadly van attack in the Catalan capital killed 13 and injured more than 100 in a scene of chaos and horror. Stock markets had been clawing back losses from last week’s slump over fears of military clashes between North Korea and the US before the latest downturn hit. Gold rose above $1,290 an ounce, while on forex markets the dollar was falling towards 109 yen as safe haven assets received a boost from the renewed geopolitical tensions. On commodities markets, oil eked out modest gains Friday with US crude inching higher than $47 a barrel, following sharp losses earlier in the week on fears of a supply glut.
The Philippine peso continued its slide on Friday while the stock market snapped a four-day winning streak, with analysts noting that investors were wary of taking on risk given rising global concerns. The peso first touched the P51:$1 level on August 11, weighed down by a war of words between the United States and North Korea. The Philippine Stock Exchange index (PSEi), meanwhile, took its cue from US declines that were triggered by concerns of Trump’s ability to govern. “Specifically, we’re looking the tax reform to underpin the stock market in the long term, around 8,200 to 8,500. Downside risk is at 7,800.”All sectoral indices, except industrials, closed in the red..Volume turnover reached 1.3 billion shares valued at P5.4 billion.
A feasibility study is currently being conducted for the establishment of a food terminal inside New Clark City in Tarlac, the chief of the Bases Conversion and Development Authority (BCDA) said on Friday. “This is only a memorandum of understanding (MoU) to look up the possibility of the food terminal,” Dizon said. The MoU was signed last month by representatives of MPIC, SEMMARIS and the BCDA. The food terminal is one of many projects to be located in New Clark City. Originally called the Clark Green City, the nearly 10,000 hectare development is part of the Clark Special Economic Zone that includes the former US airbase in Pampanga.
SINGAPORE – INQUIRER.net’s digital advertising and creatives unit, BrandRoom, and its pop culture channel InqPOP! bagged two major awards at the 2017 Spark Awards for Media Excellence. Held this year at the Intercontinental Hotel in Singapore, Spark Awards recognizes the efforts of media owners and solution providers to continuously improve their solution, products, and services. This year, INQUIRER.net’s BrandRoom bagged the Silver Award for Best Commercial Team while InqPOP! ADVERTISEMENTWinners in this year’s Spark Awards were chosen by judges from different multinational brands and agencies across the region.
Source:Philippine Daily Inquirer
August 18, 2017 15:22 UTC
Majority of the CA members rejected Taguiwalo’s appointment in an executive session right after the two-hour hearing on Wednesday. Taguiwalo was the third cabinet secretary of Duterte rejected by the CA after then foreign affairs secretary Perfecto Yasay and environment secretary Gina Lopez. Vice President Maria Leni Robredo, Social Welfare Assistant Secretary Lorraine Badoy, and former Tarlac representative Monica Teodoro-Prieto are included in the list of people who might replace Taguiwalo. He added that during Taguiwalo’s stint as social welfare chief, she enjoyed Duterte’s “full trust and support,” even when she sided with leftist groups opposing the President’s position. “We wish Secretary Taguiwalo all the best in her future endeavors.
The Department of Justice (DOJ) on Friday gave security and protection to Patricia Paz Bautista, estranged wife of Commission on Elections (Comelec) Chairman Andres Bautista. In a press conference, Justice Secretary Vitaliano Aguirre 2nd, told the media that they have accepted Bautista under provisional coverage of the Witness Protection Program (WPP). Under the WPP, Patricia is entitled to stay in a safe house, monthly allowance, security protection, hospitalization and medicines, and other privileges. “The provisional admission of Cruz-Bautista into the WPP was made in consideration of her safety and security as a potential witness,” Aguirre said. At present, Aguirre said that they are evaluating whether Patricia will soon be given full WPP coverage.
Members of the Reform the Armed Forces Movement (RAM) led by Sen. Gregorio Honasan, sought amnesty and back pay during their meeting with President Rodrigo Duterte on Wednesday, Malacañang said. During a press conference on Thursday, Palace spokesman Ernesto Abella said the RAM members “expressed support and offered help to the President.”“They likewise asked the President for amnesty so that they can receive their back pay as well as livelihood opportunities for the RAM members,” Abella told reporters. Asked if Duterte plans to grant their amnesty request, Abella said there is no final decision yet. Honasan was one of the “EDSA heroes” and leaders of RAM which broke away from the Marcos dictatorship. He also joined two failed coup attempts, in August 1987 and December 1989, against the Corazon Aquino administration that he helped to install.
ABOUT 50 illegally-manufactured firearms worth P200,000 were seized from a businessman who was arrested in Danao, Cebu on Thursday. Cebu Police Provincial Office Director Eric Noble said Romel Pinote of Barangay Suba was arrested through a search warrant for his illegal firearms business. Joie Yape Jr., who led the operation, said Pinote is financing the illegal manufacture of firearms, locally known as paltik. Danao has been known to be producing illegal firearms since 1991. Also seized were 33 magazine clips for .45 caliber, eight magazine clips for .9mm, and 20 pairs of hand grips for .45 caliber.
August 18, 2017 14:48 UTC
BAYOMBONG, Nueva Vizcaya: The Regional Trial Court (RTC) in Tuguegarao City has granted the petition of Cagayan Gov. Manuel Mamba for mandamus to compel the Sangguniang Panlalawigan (provincial board) to enact an ordinance to appropriate the province’s P3 billion budget for 2017. Judge Marivic Cacatian-Beltran of RTC-Branch 3 in a 14-page decision dated August 14 directed Vice Governor Melvin Vargas Jr. and the 12 members of the provincial board to continue deliberating on the 2017 annual budget until they have enacted the ordinance providing for it. He added that the provincial board should have avoided “politicking” when dealing with the 2017 annual budget because it is the people of Cagayan who will benefit from it. Meanwhile, the vice governor denied that the provincial board has delayed the approval of the budget over political differences with Mamba saying, “the delay has something to do with a comprehensive scrutiny of the executive budget.”The board members said they were confident they could pass the 2017 budget within 90 days but was delayed because of “a more careful study on the proposed budget.”
August 18, 2017 14:48 UTC
COTABATO CITY: Security measures are put in place at the Mindanao State University (MSU) with the reopen of regular classes next week amid the armed conflict in Marawi City. MSU president Habib Maca-ayong said that security arrangements were made after a high level conference between university officials and the security sector, as the Brigada Eskwela was launched in preparation for the resumption of classes on Tuesday. Lt. Gen. Carlito Galvez Jr., commander of Western Mindanao Command, led the Brigada Eskwela with soldiers and the university staff in repairing the facilities and cleaning the university premises. The MSU caters to marginalized students across the country, especially scholars from Visayas, Mindanao and Palawan. It has produced a number of professionals and topnotchers in 56 years as educational institution.
August 18, 2017 14:37 UTC
Garvo Lanete tallied a career-high 27 points to lead Meralco to a 107-104 victory over Phoenix and get back on the winning track in the Philippine Basketball Association (PBA) Season 42 Governor’s Cup on Friday at the Araneta Coliseum. Hats off to my players,” said Bolts head coach Norman Black, whose wards will take an 18-day break. The Bolts grabbed the upper hand at 105-101 after Newsome’s two free throws in the last 16 seconds. Scores:MERALCO 107 – Durham 33, Lanete 27, Newsome 18, Hugnatan 15, Caram 7, Nabong 4, Dillinger 3, Faundo 0, Chua 0, Atkins 0, Sedurifa 0. PHOENIX 104 – Brown 38, Chan 27, J. Wilson 12, Jazul 9, Eriobu 7, Alolino 4, Dehesa 3, Intal 2, Kramer 2, W. Wilson 0, Ababou 0.
August 18, 2017 14:37 UTC