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Saintfiet confident, hopes for ‘miracle’ as PH men’s football team hosts Iraq
Hoping to take advantage of playing at home, the Philippine men's football team targets a breakthrough win in the joint qualifiers of the FIFA World Cup and AFC Asian Cup as it battles favored Iraq.....»»
Philippines bows down to Iraq in FIFA Qualifiers
CEBU CITY, Philippines — Mohanad Ali scored a late goal for Iraq that sent the Philippines to the bottom of Group F in the FIFA World Cup 2026 and AFC Asian Cup Qualifiers on Friday, March 21 (March 22, Manila Time) at the Basra International Stadium in Iraq. With the defeat, the Philippines’ chances to.....»»
Canino reclaims solo lead in national women s chess tiff
After seven rounds, the six-time Asian Age Group titlist has reclaimed the solo lead by scoring his sixth win over reigning national junior girls champion Mhage Gerriahlou Sebastian......»»
Chinas Impact on Asian Shares and Rising Treasury Yields
Asian Shares Decline as China Suffers Losses, Wall Street Remains Closed for Thanksgiving Asian shares experienced a slight dip as China recorded losses and Wall.....»»
Stocks slip on lack of positive catalysts
Local stocks closed nearly flat yesterday, with Asian markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+......»»
Case closed: Obiena doping accuser says sorry
The wife of the Olympic gold medalist who accused Asian Games gold medalist pole vaulter EJ Obiena of doping has apologized......»»
Shun mass protests in Egypt
Filipinos in Egypt have been advised to avoid joining any protests following the mass demonstrations, denouncing the bombing of a hospital in the Gaza Strip that reportedly killed at least 500 civilians. In an advisory, the Philippine Embassy in Egypt cautioned Filipinos against joining the random demonstrations and planned mass actions. “The Philippine Embassy in Cairo advises everyone to exercise caution, keep away from mass congregations, and stay home unless necessary,” it said. According to the Department of Foreign Affairs, there are 1,990 Filipinos in Egypt. Egyptians took to the streets to express their anger over the bombing of the Al-Ahli Baptist Hospital in Gaza, which left hundreds of Palestinians dead. In one of the demonstrations, a Palestinian flag was raised while an Israeli flag was burned. The demonstrations came after Egypt’s President Abdel-Fattah el-Sissi called on Egyptians to express solidarity with the Palestinians amid the Israel-Hamas war. This developed as top diplomats of the Association of Southeast Asian Nations on Friday denounced the ongoing war in the Middle East. End bloodshed In a statement, the foreign ministers of the 10-member regional bloc called for an immediate end to the bloodshed. “We strongly condemn the acts of violence which have led to the deaths and injuries of civilians, including ASEAN nationals,” the foreign ministers said. “We urge the immediate end of violence to avoid further human casualties and call for the full respect of international humanitarian law,” it added. Israel and the Palestinian militant group Hamas are engaged in armed conflict following the surprise attack launched by the terror group on Israel last 7 October. The attack by Hamas has left more than 1,400 dead, most of them massacred on the first day of the assault. Meanwhile, the widespread airstrikes on the Gaza Strip have reportedly left at least 3,478 dead. ASEAN also called on “all parties to create safe, rapid and unimpeded passages of human corridors.” Last week, Israel imposed a 24-hour deadline for 1.1 million civilians to evacuate northern Gaza ahead of its ground offensive in the Palestinian territory. Since then, millions of civilians, including foreign nationals, have scrambled to move from northern Gaza to southern Gaza in hopes of exiting the war-torn territory. The bulk of civilians are swarming to the Rafah border in an attempt to enter Egypt despite the border remaining closed and the restricted availability of food, water and electricity. Two-state solution Meanwhile, ASEAN reaffirmed its support for a “negotiated two-state solution that allows Israelis and Palestinians to live side-by-side in peace and security consistent with relevant United Nations Security Council resolutions.” “This will be the only viable path to resolving the root cause of the conflict,” it said. The regional bloc also called on the “international community to support the peace process in order to ensure long-lasting peace and stability in the region.” “We have issued our respective national statements on the escalation of armed conflicts in the Middle East,” it said. On Wednesday, the Philippines, one of the founding members of ASEAN, expressed its “profound sadness” over the bombing of a hospital in the Gaza Strip, which reportedly killed at least 500 civilians. Israel and Hamas denied being behind the attack and blamed each other for the bombing. The Philippines said all parties should “do their utmost to protect civilians in times of war and armed conflict.” “We support efforts of the United Nations to provide humanitarian relief in the conflict areas,” it said. According to the Department of Foreign Affairs, there are 135 Filipinos in the Hamas-controlled Gaza. Deep concern In Riyadh, Saudi Arabia, where President Ferdinand Marcos Jr. is attending the ASEAN-Gulf Cooperation Council Summit, the Chief Executive expressed deep concern over the rising number of victims and the safety of those affected by the conflict. In his intervention during the 1st ASEAN-GCC Summit here on Friday, Marcos said, “All parties (should) exert their utmost efforts to de-escalate the situation, stop all violence, and engage in dialogue and diplomacy.” He called on the members of the GCC and ASEAN to work together to promote peace, security, and stability in the South China Sea and the Arabian Sea. Marcos also underscored the importance of cooperation between member countries of the two regional groups to ensure their continued prosperity. “As the two regional organizations located astride the major sea gates and vital corridors of the world’s commerce and communications, it is imperative that we work together to promote peace, security, and stability in both our regions, the South China Sea and the Arabian Sea, grounded on the rules-based international order to ensure the stability and prosperity of our countries and the rest of the world,” Marcos said. “Peace and stability are indispensable to ensuring continued prosperity in our respective regions and the world,” he added. The six GCC member countries are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, while the 10 ASEAN member countries are Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. President Marcos attended the ASEAN-GCC Summit, where he discussed business opportunities in the Philippines and urged investors to invest in the Maharlika Investment Fund, among other significant opportunities in the Philippines. The post Shun mass protests in Egypt appeared first on Daily Tribune......»»
Hong Kong halts trading, closes schools post-typhoon
Asian finance hub Hong Kong halted trading at its stock exchange on Monday and closed schools after Typhoon Koinu generated torrential rainfall overnight. Koinu -- which caused one death in Taiwan last week -- had weakened into a severe tropical storm by Monday, said the Hong Kong Observatory, as it moved toward the coastal areas of China's Guangdong province. The storm caused non-stop rain overnight, leading the agency to issue a "black" rainstorm warning signal -- its highest -- at 4:00 am local time (2000 GMT). More than 150 millimetres were recorded over most parts of the territory since midnight Monday, and rainfall exceeded 300 millimetres over some parts of urban Hong Kong island, data showed. "Because of seriously flooded roads and inclement weather conditions, you are advised to take shelter in a safe place and stay there," the observatory said. The city's third-highest storm warning signal -- "T8" -- was to remain in place until 11:40 am local time. Due to the storm warning, trading at the city's stock exchange was to be suspended in the morning session but was expected to resume at 2:00 p.m. Schools and daycare centres, ordered to shut down when authorities issued the T8 signal a day earlier, remained closed on Monday. This was the second time in a month the city has issued a black rain warning. In early September, Hong Kong experienced its highest rainfall in nearly 140 years, flooding subway stations and malls, and causing landslides. In China's Guangdong province -- where Koinu is expected to sweep past en route to Hainan island -- the cities of Zhuhai and Jiangmen issued a Level III emergency response, according to the Xinhua news agency Sunday. That meant more than 35,500 fishing boats had to return to port, while dozens of coastal scenic areas were temporarily closed. Before moving to Hong Kong, Koinu had grazed nearby Taiwan, bringing torrential rain and record-breaking winds to its outlying Orchid Island. The storm left at least one dead in Taiwan, knocking out power to hundreds of thousands of homes. Southern China is frequently hit during the summer and autumn seasons by typhoons that form in the warm oceans east of the Philippines and then travel west. But climate change has made tropical storms more unpredictable while increasing their intensity -- bringing more rain and stronger gusts that lead to flash floods and coastal damage, experts say. The post Hong Kong halts trading, closes schools post-typhoon appeared first on Daily Tribune......»»
Oil prices jump as Hamas attack on Israel fuels supply fears
Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia's output cuts. It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices, giving a fresh headache to central banks as they try to ease up on interest rate hikes to avoid recessions. The surprise attack and Israel's declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran. "Key for markets is whether the conflict remains contained or spreads to involve other regions, particularly Saudi Arabia," said ANZ Group's Brian Martin and Daniel Hynes. "Initially at least, it seems markets will assume the situation will remain limited in scope, duration, and oil-price consequences. But higher volatility can be expected." Both main contracts surged more than five percent in early Asian business before easing back as the day wore on. However, SPI Asset Management's Stephen Innes warned: "Historical analysis suggests that oil prices tend to experience sustained gains after the Middle East crises. "Meanwhile, stocks tend to eventually recover and trend higher after an initial period of volatility. Safe-haven assets like gold and Treasurys, which initially see gains during such crises, tend to fade from their initial price spikes as the situation stabilizes. "But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario." A decidedly risk-off mood also saw investors push into the safety of the dollar, which was up against the pound and euro, as well as the Australian and New Zealand dollars. The yen, considered one of the safest currencies, strengthened against the greenback, though it still remains locked around 11-month lows. Gold, another key haven, gained more than one percent. Equity markets were mixed, with Shanghai dropping on its first day back after a week-long holiday as investors continue to fret over the stuttering Chinese economy. There were also losses in Mumbai, Singapore, Manila, Bangkok and Wellington, though Hong Kong rose as it opened in the afternoon, having been closed in the morning owing to a typhoon. Sydney and Jakarta eked out gains. Tokyo was closed for a holiday. London edged up at the open while Paris and Frankfurt were lower. The tepid performance came despite a rally on Wall Street, where traders welcomed data showing a forecast-busting jump in new jobs but wage growth slowing. The "Goldilocks" figures -- neither too strong nor too weak -- lifted optimism the world's top economy can avoid a recession even as the Federal Reserve keeps rates elevated. Still, there are worries the bank will hike one more time before the end of the year, with officials determined to bring inflation to heel and keep it at their two percent target. Key figures around 0715 GMT West Texas Intermediate: UP 3.5 percent at $85.69 per barrel Brent North Sea crude: UP 3.1 percent at $87.23 per barrel Hong Kong - Hang Seng Index: UP 0.4 percent at 17,552.01 Shanghai - Composite: DOWN 0.4 percent at 3,096.92 (close) London - FTSE 100: UP 0.3 percent at 7,518.16 Tokyo - Nikkei 225: Closed for a holiday Euro/dollar: DOWN at $1.0540 from $1.0588 on Friday Pound/dollar: DOWN at $1.2195 from $1.2234 Dollar/yen: DOWN at 149.15 yen from 149.30 yen Euro/pound: DOWN at 86.49 pence from 86.52 pence New York - Dow: UP 0.9 percent at 33,407.58 (close) (Bloomberg News contributed to this story) The post Oil prices jump as Hamas attack on Israel fuels supply fears appeared first on Daily Tribune......»»
Asian markets fall on rate fears as bond yields rise
Asian markets fell across the board Wednesday following Wall Street's lead after robust US employment data and rising Treasury yields exacerbated fears that interest rates will be higher for longer. The labor report, known as JOLTS, showed a surprise increase in the number of job openings to 9.6 million, a sign of continued tightness in the market and fuelling worries of a further rate hike by the Federal Reserve before year's end. The report comes ahead of Friday's highly anticipated September US employment report. Following the JOLTS report, 10-year US Treasury note yields climbed to levels last seen in 2007. Treasury bond yields are seen as a proxy for US interest rates and are closely watched. All three major US indices closed in the red, falling by more than one percent. "Stock market investors were sent reeling after US job openings unexpectedly rebounded in August, adding to concerns that the Federal Reserve could hike rates in November but unquestionably maintain elevated borrowing costs for an extended duration," said SPI Asset Management's Stephen Innes. Tokyo and Seoul, which resumed trade after a long holiday weekend, led the Asian selloff Wednesday, both falling around two percent, while Hong Kong, Taipei, Jakarta, Singapore, Sydney, and Wellington were all sharply lower in a sea of red. Markets in mainland China were closed for a week-long holiday. "It is difficult (for investors) to move towards bargain-hunting as yields in US Treasury notes keep climbing," analyst Shutaro Yasuda of Tokai Tokyo Research Institute said. On forex markets the yen was trading at 149.28 to the dollar after hitting 150.16 in London on Tuesday, its weakest level in a year. Japan's top finance officials declined to comment Wednesday on whether Tokyo had intervened to support the yen after it had breached the psychological 150 level. In recent months, the yen has plummeted against the dollar in part because of the widening gap in interest rates set by the Bank of Japan and the US Federal Reserve. The post Asian markets fall on rate fears as bond yields rise appeared first on Daily Tribune......»»
DOT holds first Tourism Pride Summit
The Department of Tourism held the first-ever Tourism Pride Summit in line with the inclusive development thrust of the administration of President Ferdinand Marcos, Jr. The Summit held at the Makati Shangri-La Hotel on 28 September 2023 gathered leading figures from the government, academe, tourism and the LGBTQIA+ community, highlighting how government investment toward this niche market that spends around $200 billion a year can contribute significantly to the growth and development of Philippine tourism. Panel discussions revolved around promoting an inclusive and progressive tourism industry, expanding opportunities through benchmarking successful pride tourism initiatives of other countries and the role of the creative industry in developing the LGBTQIA+ tourism market, which is projected to reach over $.5 trillion by 2030. [caption id="attachment_190312" align="aligncenter" width="1600"] Tourism Secretary Christina Garcia Frasco joined by her husband Congressman of the 5th District of Cebu and Deputy Speaker Duke Frasco[/caption] Tourism Secretary Christina Garcia Frasco led the series of panel discussions, joined by Congressman Christopher “Toff” de Venecia of the Fourth District of Pangasinan; Ronil Villacorta of the Philippine Financial and Inter-Industry Pride; Regine Carmelli Reyes of the Philippine Commission on Women; Atty. Regal Oliva, President of Cebu Lady Lawyers Association Inc.; Girly Gravador, owner of Cygnal Travel; and Assistant Professor Rielle Alcantara-Castro of the Asian Institute of Tourism, University of the Philippines Diliman. Also discussed were the unique challenges faced by LGBTQIA+ professionals and advocating for workplace and gender and development inclusivity; the unique experiences of LGBTQIA+ individuals and how their travel stories can enrich the DOT’s mission to create an all-encompassing, secure, and forward-looking tourism industry; LGBTQIA+ trends as a niche market in tourism; educational programs that incorporate LGBTQIA+ awareness and sensitivity training; and policies that harness the power of tourism to promote understanding, respect and acceptance of LGBTQIA+ travelers and tourism workers, making destinations more inviting for everyone. ”We at the Department of Tourism take pride in the enormous contributions of the LGBTQIA+ community across the tourism value chain in all of the regions of the Philippines. With the very first Tourism Pride Summit, we are responding to global trends that present massive opportunities for growth by pursuing niche markets that will create more jobs in tourism,” said Frasco. The post DOT holds first Tourism Pride Summit appeared first on Daily Tribune......»»
Equities edge higher as inflation moderates
Global stocks mostly edged up on Monday as investors remained optimistic that interest rates will not go higher and China made moves to boost lackluster growth. Wall Street stocks finished a choppy session modestly higher, as investors traded cautiously ahead of key economic and earnings releases later in the week. European stock markets were boosted by data showing the economy grew in the second quarter and inflation slowed in July, raising hopes the European Central Bank will be able to hold off from hiking interest rates. Asian equities closed with gains, tracing a pre-weekend bump on Wall Street and bolstered by new pledges from China of measures to stimulate its stuttering economy. In the eurozone, official figures on Monday showed the economy grew 0.3 percent in the second quarter, while inflation eased to 5.3 percent in July from 5.5 percent the previous month. That could support expectations for a pause in ECB rate hikes after its chief Christine Lagarde said Sunday "we are reaching our goal" of inflation at around two percent. "We do expect a much lower reading in inflation by the end of the year," said Bert Colijn, a senior economist at ING. Inflation remains much higher in the UK, at nearly eight percent, putting the Bank of England on course to raise interest rates once more on Thursday. In China, the world's second-largest economy, the government announced fresh measures to boost consumption days after unveiling some initiatives for light industry. The move comes as spending by China's vast number of consumers remains subdued even after the lifting of strict Covid containment measures late last year. A fresh round of figures showed the country's manufacturing activity continued to shrink in July, albeit at a slightly slower pace than last month. Hopes for a government drive to kickstart the economy have provided much-needed support to markets over the past week, even as some observers warn the large-scale measures seen in the past were unlikely. Oil prices kept rising. "Fears that Saudi Arabia will go further and extend their production cuts into September is seeing demand return at the same time as the US economy looks to be faring better than expected," said analyst Michael Hewson at CMC Markets. In currency markets, the yen continued its retreat against the dollar as the Bank of Japan announced a move to buy government bonds. This was seen as a message to the market that the central bank was committed to keeping the long-term interest rate in check. The bank slightly increased the flexibility of its super-easy monetary policy last week, but it was seen as a small enough change not to disrupt the market. The post Equities edge higher as inflation moderates appeared first on Daily Tribune......»»
QC, Pasig launch new initiatives
The local governments of Quezon City and Pasig City recently launched new initiatives that aim to make their streets more walkable, cyclable and environment-friendly. The said initiatives were launched through a memorandum of understanding signed by Quezon City Mayor Joy Belmonte and Pasig City Mayor Vico Sotto. Funded by the International Climate Initiative of the German Federal Ministry for Economic Affairs and Climate Action and the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, the Sparking Active Mobility Actions for Climate-friendly Cities aims to increase the role of active mobility in building resilient and safe transport systems, contribute to national emission reduction targets, and promote climate-friendly mobility behavior. The two cities were selected due to their strong commitment to promoting and supporting active transport (cycling or walking) based on their development plans and priorities and their capacity to inclusively implement the project in close collaboration with community stakeholders. Quezon City has been proactive in developing its bike lane plan in order to provide safer and more accessible cycling infrastructure for its residents. On the other hand, Pasig City has expanded its “People’s Streets” initiative which sees select roads being closed to vehicular traffic every Sunday to provide exclusive spaces for pedestrians and cyclists. The two cities also have dedicated offices for green and active transport initiatives, further underscoring their commitment to people-centric and sustainable transportation. Furthermore, both Quezon City and Pasig are partners of ICSC and the broader CSO network in the Bilang Siklista Project, a volunteer-driven initiative in 18 cities nationwide doing a manual count of people making daily trips on bicycles during commuter peak hours. Both are also members of ICLEI, a global network working with over 2,500 local and regional governments committed to sustainable urban development. Walking and cycling are often overlooked yet essential modes of transportation that offer greater environmental benefits than motorized vehicles. Motorized transport contributes to approximately 30 percent of energy-related greenhouse gas emissions in the Philippines, making it a significant contributor to air pollution in the country. Active mobility can potentially reduce 3.46 million tons of emissions in highly urbanized cities while contributing to public health, equity and green socio-economic recovery. With the SPARK project, these cities further reinforce their existing commitments to promote and enable active transport. The SPARK project aims to catalyze innovation and progress through the application of tactical urbanism, a community-driven short-term action that involves the use of quick, small-scale, and often informal interventions to improve the urban environment and test out new ideas before implementing larger and more permanent changes and open-data. The concerted effort is expected to bring about tangible and lasting improvements in promoting cycling and walking as viable and legitimate means of transportation, contributing to healthier and liveable communities, the LGU said. ICLEI and Quezon City have previously worked together in various climate action-related projects including the Asian Cities Climate Change Resilience Network, Circle Lab for Cities and the One Planet City Challenge. Meanwhile, ICLEI and Pasig City have recently worked together on Ambitious City Promises, Building Efficiency Accelerator and the One Planet City Challenge, among others. The post QC, Pasig launch new initiatives appeared first on Daily Tribune......»»
Blinken rallies SE Asia against ‘coercion’ in swipe at China
US Secretary of State Antony Blinken vowed unity Friday with Southeast Asian nations against "coercion", in a thinly veiled reference to Beijing, as host Indonesia warned at talks that the region should not become a proxy for global rivalries. Blinken met foreign ministers from the Association of Southeast Asian Nations in Jakarta at a gathering that also brought the top diplomats of China and Russia, the two main adversaries to the United States. A day after his latest talks with China on managing tensions between the two powers, Blinken made a clear if unstated allusion to concerns shared with many in the region over Beijing. "We share a vision of the Indo-Pacific that is free, open, prosperous, secure, connected and resilient," Blinken told ASEAN foreign ministers, using another term for the Asia region. "That means a region where countries are free to choose their own paths and their own partners, where problems are dealt with openly -- not through coercion," he said. "We must uphold the freedom of navigation in the South and East China Seas and maintain peace and stability across the Taiwan Strait." Friction has been rising for years between Beijing and Southeast Asian nations, particularly Vietnam and the Philippines, over China's sweeping claims to much of the South China Sea. Maritime incidents have been on the rise and tensions have also soared over Taiwan, the self-governing democracy which Beijing claims and has not ruled out seizing by force. But host Indonesia warned that ASEAN cannot become a proxy, as tensions flare not only between the United States and China but over Russia's invasion of Ukraine. "The Indo-Pacific must not be another battleground," Indonesian Foreign Minister Retno Marsudi told ministers of the 18-nation East Asia Summit, which includes the United States, China and Russia, as well as Japan, India and Australia. Managing tensions The annual closed-door talks have often been a raucous affair as big powers clash, but the United States and China have been working to prevent disagreements from spiraling out of control. Blinken met Thursday evening for more than an hour and a half with China's foreign policy supremo Wang Yi, less than a month after the top US diplomat paid a rare visit to Beijing. He told Wang that Washington would hold hackers "accountable" after a breach of US government email accounts was blamed on Chinese state-backed actors, a US official said. Wang urged Washington to "work with China in the same direction" to improve ties and stop interfering in China's affairs, according to a statement on Friday by the foreign ministry in Beijing. Australian Foreign Minister Penny Wong held her own meeting with Wang on Thursday and said she had urged Beijing to "navigate our differences wisely" and provide "transparency" on a controversial policing pact with Solomon Islands. Japanese Foreign Minister Yoshimasa Hayashi also met Friday with Wang, where Tokyo and Beijing traded barbs over the former's plan to discharge treated water from the Fukushima nuclear plant. US shuns Russia While the United States has sought to increase communication with China, Blinken shunned Russian Foreign Minister Sergei Lavrov. It was first time Blinken and Lavrov were in the same room since a Group of 20 meeting in March in New Delhi, where they spoke briefly on the sidelines. US officials say Russia has no real interest in diplomacy to end the war in Ukraine, with Western powers instead ramping up military support to Kyiv. The US approach has caused unease in parts of the developing world, with countries including India and South Africa refusing to rally behind condemnation of Russia. Meeting with ASEAN, Blinken called for a "just and lasting peace to Russia's war of aggression" in Ukraine. In an interview with Indonesian media this week, Lavrov said the war in Ukraine would not end until Western nations gave up their efforts to "defeat" Russia. Pressure on Myanmar ASEAN talks have been dominated by the crisis in Myanmar. The bloc refused to invite the country's military junta, which seized power in February 2021. With Myanmar's chair at the table conspicuously empty, Blinken urged more pressure. "In Myanmar, we must press the military regime to stop the violence, to implement ASEAN's five-point consensus, to support a return to democratic governance," Blinken said. ASEAN reached a five-point peace plan two years ago with the junta, which has yet to implement it. Myanmar's neighbor Thailand has broken with the bloc by pursuing engagement with the junta, although its foreign minister said he also was able to see deposed elected leader Aung San Suu Kyi on Sunday. Singapore Minister of Foreign Affairs Vivian Balakrishnan told reporters at the end of meetings Friday that ASEAN members "encourage all channels of communication to be open". The post Blinken rallies SE Asia against ‘coercion’ in swipe at China appeared first on Daily Tribune......»»
PAGCOR strengthens controls to make Phl a significant gaming destination
Philippine Amusement and Gaming Corporation chairman and CEO Alejandro H. Tengco discussed the agency's plans and programs to make the Philippines a leading gaming destination in the ASEAN region. Chairman Tengco was invited to deliver the keynote address on the third day of the G2E Asian IR Summit in Macau on 13 July 2023. In his speech, the PAGCOR chief expressed optimism that with the gaming regulatory reforms which the agency is undertaking, the Philippine gaming industry will be more responsive to the needs of the changing times while addressing the social ills that come with gaming operations. The Philippine gaming industry started to bounce back as it gradually transitioned into the new normal. Following its mandate to regulate and uphold the integrity of gaming operations in the Philippines, PAGCOR generated P58.96 billion in 2022, an impressive 66.16 percent year-on-year increase from its P35.48 billion total income in 2021. Net income last year reached P4.45 billion, a 2,000% leap from P203.57 million recorded in 2021. This achievement enabled the agency to fulfill its other role as the government's partner in generating revenues for socio-civic programs by increasing its contributions to nation-building from P22.91 billion in 2021 to P34.67 billion in 2022. Given PAGCOR's dual role as operator and regulator, its operations have been scrutinized by crucial decision-makers and major gaming industry players. Thus, since its assumption a year ago, the new PAGCOR Board of Directors has started strengthening the agency's regulatory function and has promoted the privatization of PAGCOR-run Casino Filipino facilities. Such a move will allow the corporation to grow and compete in both domestic and international markets by infusing new capital and advanced technologies, which can facilitate expansions, upgrades, and innovations. "By focusing on its regulatory functions, PAGCOR will be able to avoid the complexities of running two different shows. It can also streamline its processes and create more revenues to fund more high-impact government projects," Tengco said. However, before PAGCOR gaming venues are privatized, they will be upgraded to add value to the properties. Programs include the modernization of Information and Communication Technology and Cybersecurity infrastructure, including its Casino Management System and introduction of the Casino Filipino Online; upgrading of more than 3,000 electronic gaming machines (EGMs); and updating PAGCOR Technical Standards for EGMs. To combat the proliferation of illegal gambling in the country, PAGCOR coordinates with various law enforcement agencies. It has instituted reforms to address the Philippine Offshore Gaming Operations, recently associated with crime, money laundering, and corruption. It has canceled the contract entered by the previous Board with the third-party auditor for offshore gaming operations, introduced new fees, and imposed heavy fines and penalties on licensees and service providers engaged in criminal activities. Furthermore, accreditations were suspended and canceled, and licensees were held responsible for the conduct of their service providers. Despite these, online gaming operations' gross revenue is projected to reach P24 billion by the end of this year, more than double last year's P11 billion. Tengco stated, "We shall undertake this painstaking process to weed out the unscrupulous companies and individuals using the PAGCOR license for illegal activities, tainting the name of the whole industry, especially the Philippines." PAGCOR has likewise accredited Gaming System Service Providers for Traditional Bingo, Electronic Bingo, Electronic (eCasino) Games, Sports Betting, and E-Billiards. Its licensed casinos were recently allowed to use remote gaming platforms for live casino games catering to their registered casino players. PAGCOR is studying the possibility of regulating other facets of overseas gaming operations or regulating a particular class of business process outsourcing. Through closed borders during the COVID-19 pandemic, PAGCOR has evolved and continues to adapt to the changing times by licensing new gaming options within its jurisdiction and adequately regulating them. "I know much still needs to be done, but I believe that we are on the right track towards making the Philippines a prime gaming destination in the ASEAN region," Tengco concluded. The post PAGCOR strengthens controls to make Phl a significant gaming destination appeared first on Daily Tribune......»»
Ironclad it must be
As the two giants on the world stage take their positions in the simmering conflict over a safe passage on the West Philippine Sea, the Philippines is again sandwiched between an immovable object and an unstoppable force. The last time the Philippines was caught in the middle was during the Obama administration’s Asian pivot when a freshly unwrapped cutter, which was a former US Coast Guard ship, was received by the Philippine Navy. President Noynoy Aquino then promptly sent it to the disputed area to catch “poachers.” A string of events then followed which concluded in a copout by the US after China started reclaiming Scarborough Shoal, on which solid structures now stand. The deployment of the “gray ship” — which has consequences in protocol during international disputes — resulted in a standoff between China and the Philippines in 2012. Despite the frequent vow of American officials, which later extended to President Joe Biden, that the alliance between the US and the Philippines is “ironclad,” historical experience says otherwise. Noynoy Aquino and some officials he designated lost Scarborough Shoal because they were gullible enough to believe that Washington would immediately come to the country’s aid considering the several defense agreements between them. It was the Americans who brokered the agreement in which the Philippines and China were supposed to withdraw from the Scarborough Shoal standoff in 2012. Former US Ambassador Jose Cuisia said it was then US Assistant Secretary of State Kurt Campbell who mediated to end the stalemate. The Philippine vessels hightailed it out of the conflict zone but the Chinese knew better and never left the area. Former Senate President Juan Ponce Enrile said the Aquino administration made a fatal blunder as they “acted without verifying the facts.” The Philippine forces withdrew based on the wrong belief that there was an agreement between the Philippines and China that both would mutually follow. Enrile lamented that Aquino and his officials swallowed the word of an American official “hook, line, and sinker.” The way that the Mutual Defense Treaty is crafted does not compel United States forces to respond quickly to aggression against the Philippines. It will be the call of the US Congress whether or not to authorize a response. Unless the MDT is renegotiated to become a pact similar to the North Atlantic Treaty Organization, where the response is automatic to a particular threat, the Americans can’t be relied on to come to the rescue during an actual conflict. The WPS will always be an area of conflict because of the resources believed to be hidden beneath it. Past estimates of the proven reserves of oil and natural gas in the WPS are from seven to nine billion barrels of crude and 900 trillion cubic feet of natural gas. China estimates that the area has potential reserves of 130 billion barrels of oil. The WPS is also a very strategic route, according to Enrile. “If that area is closed or controlled by another country, China in two months will wither away as a nation. They will have famine, riots, they will have no economy because 80 percent of their energy passes through the Strait of Malacca through the WPS,” he explained. The point is that both America and China will not allow the other to control the sea that lies within the area of maritime rights under the United Nations Convention on the Law of the Sea. The US has no moral standing even to compel China to follow the international agreement since it is not a signatory to UNCLOS. There’s still a lot of proving that the US will have to do to back up its oft-repeated promise that it will not backpedal from its commitments when the going gets tough. The post Ironclad it must be appeared first on Daily Tribune......»»
QC café serves dishes inspired by Pinoy movies
Cinema ’76 Café Tomas Morato offers an elevated casual dining experience, featuring a curated menu of progressive Filipino dishes inspired not only by cinema but also by different flavors around the world. Designed by the chefs of Center for Asian Culinary Studies led by chefs Gene and Gino Gonzalez, local foodies can expect an array of dishes from comfort food to all-time favorite snacks, as well as selection of handcrafted beverages like blended coffee drinks and classic cocktails. Dishes include Truffle Fries, Mozzarella Sticks, Chorizo Chisu Croquettes and Nachos made from premium stone ground chips with sour cream, salsa cruda, cheese sauce and ground beef. Even the popcorn at Cinema ’76 Café is not your run-of-the-mill movie snack with distinctive flavors like Truffle Caramel, Smoked Ribs and Cheddar. [gallery columns="2" size="large" ids="138986,138988"] Chef Gene recommends the sandwich selection inspired by some of TBA Studios’ beloved historical films: Luna (chicken tocino with salted egg relish and tomatoes), Del Pilar (adobo flakes, cream cheese with pickled onion) and Quezon (chicken inasal, tomatoes with creamy béchamel sauce). Other delectable dishes include Margherita Soup, Steak and Fries Seared Salmon served with thick-cut fries and the TBA Studios Box-Office Pasta, an extra virgin olive oil-based chorizo pasta with sun-dried tomatoes, toasted bell peppers and shimeji mushrooms. [gallery columns="2" size="large" ids="138989,138984"] Cinema ’76 Café first opened in Anonas in June 2021. While the Anonas branch has permanently closed, the new location in Tomas Morato makes it even more accessible for film enthusiasts and foodies alike. Cinema ‘76 Cafe is located on 2/F Terraces Building, Tomas Morato Avenue corner Scout Borromeo, Quezon City. It’s open Sundays to Thursdays, 9 a.m. to 12 a.m., and Friday to Saturday, 9 a.m. to 2:30 a.m. The post QC café serves dishes inspired by Pinoy movies appeared first on Daily Tribune......»»
Go lauds Capiztahan Swimfest, sends out aid to indigents
Senator Christopher “Bong” Go, Chairman of the Senate Committee on Sports, congratulated the provincial government of Capiz, led by Governor Fredenil Castro, for successfully holding its Capiztahan Swimfest from 14 to 16 April at the Villareal Stadium in Roxas City. “Nais ko po sanang batiin lahat ng mga manlalaro na nagmula sa iba't ibang panig ng rehiyon upang makilahok sa kompetisyon na ito. Ang inyong dedikasyon at pagsisikap ang nagdala sa inyo dito, at tiyak na ibibigay ninyo ang inyong buong puso sa inyong laban,” expressed Go through a message delivered by his representative present during the event. Go was scheduled to personally join the event that day but due to technical issues with the aircraft, his visit was rescheduled to Monday in Capiz where he visited the Malasakit Center in Roxas City. He also joined the groundbreaking of two Super Health Centers and provided assistance to indigents in Panit-an and Panay towns. “As we all know, sports play an essential role in our lives. They not only keep us physically fit but also help us develop important values like discipline, perseverance, and teamwork. They also teach us to face challenges and overcome them with determination, which is a valuable lesson that we can apply in all aspects of our lives,” he continued. The Swimfest is just one out of the 14 sporting events featured in Capiztahan 2023 as there will also be jujitsu, windsurfing, taekwondo, arnis, lawn tennis, invitational motocross, chess, boxing, mixed martial arts, table tennis, bodybuilding, skimboard, and criterium race. The sports festival aims to promote physical fitness, healthy competition, and camaraderie among the residents of Capiz, particularly the youth. It also provides a platform for local athletes to showcase their skills and talents in various sports and to represent their respective towns and cities in friendly competitions. “Sa lahat ng mga magulang at guardians na naririto ngayon, nais kong pasalamatan kayo sa inyong pagsuporta sa mga pangarap ng inyong mga anak na mahilig sa sports,” cited Go. “Ang inyong pagmamahal at suporta ang nagtulak sa kanila upang magpatuloy sa kanilang mga pangarap, at hindi nila makakamit ito ngayon kung hindi sa inyong walang-sawang suporta,” he added. Go’s team also raffled off a pair of shoes and a bike for the participants of the swimfest. Board Member Thea Faith Reyes was present during the event and expressed gratitude to Go for his continuing support of the province. Meanwhile, Go’s team led a relief operation for 1,000 indigents at the Civic Center. They gave away grocery packs, vitamins, snacks, masks, and shirts to the residents. They also provided bicycles, cellular phones, shoes, umbrellas, and balls for basketball and volleyball to select beneficiaries. Representatives from the Department of Social Welfare and Development were also in attendance and extended financial assistance. “I would also like to take this opportunity to acknowledge the organizers of this event, including the local government, for their hard work in putting together this wonderful competition. It takes a lot of effort and dedication to organize such an event, and I commend you for your tireless efforts,” Go highlighted. “Let us all enjoy this day of healthy competition and camaraderie. To all the swimmers, I wish you the best of luck, and may the best person win. Patuloy nating itaguyod ang sports upang maitaguyod ang ating pagkakaisa at magandang kinabukasan para sa ating bansa,” he concluded. On the same day, Go sent his outreach teams to Panay and Panitan towns to likewise assist struggling residents. Go, as Vice Chair of the Senate Committee on Finance, was instrumental in pushing an additional budget for the Philippine Sports Commission in order to support the preparation, training, and participation of Filipino athletes in upcoming sports competitions and to implement effective programs to hone the skills of more young and aspiring athletes. Particularly, the increase in the PSC's 2023 budget reflected in the General Appropriations Act is intended to support Filipino athletes in the 2023 Asian Games, 2023 Southeast Asian Games, and 2024 Summer Olympics in Paris. It can also be recalled that Go has successfully authored and co-sponsored a bill in the Senate which became Republic Act No. 11470 in 2020. The Act mandated the establishment of the National Academy of Sports System and Main Campus in New Clark City, Capas, Tarlac. The NAS is a government-run academy aimed at developing the country’s future athletes by offering quality secondary education with a special curriculum on sports for gifted young Filipinos who want to enhance their physical and mental capabilities in sports. “Simula sa grassroots level, d’yan talaga nag-uumpisa ang mga atleta natin. Kaya rin po naisabatas na ang National Academy for Sports, isa pong eskwelahan kung saan po nakakapag-aral at the same time nakakapag-training ang mga kabataan. Pag-aaral at the same time training, training at the same time pag-aaral. Walang naisasakripisyo,” said Go. The lawmaker also introduced Senate Bill No. 423 or the proposed Philippine National Games Act of 2022. The proposed measure aims to institutionalize “a truly comprehensive national grassroots sports program, which will harness the vast potential of the citizenry in discovering and developing champion athletes who could excel in international sports competition, thus giving the country pride and international goodwill and addressing the long-standing problems of Philippine sports in general.” Furthermore, the bill seeks to ensure a more inclusive system of promoting promising Filipino athletes who possess potential in various fields of sports to be given an equal opportunity of becoming future contenders in international sporting competitions and cement the country’s status as a "Sports Powerhouse in Asia." The post Go lauds Capiztahan Swimfest, sends out aid to indigents appeared first on Daily Tribune......»»
Travel ban on India, other South Asian countries may be extended — Palace
The travel ban on India and other South Asian countries may be extended as the Philippines is expected to keep its borders closed to prevent the entry of more transmissible COVID-19 variants, Malacañang said Monday......»»
Stocks end lower as investors remain on the sidelines
Stocks closed lower for a second day yesterday, bucking the uptrend in most Asian markets, as pandemic and economic worries continued to cloud investors’ sentiment while catalysts remained missing......»»