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Cristine Reyes ipinaampon ng ina noon, thankful sa adoptive family
NAGING bukas ang aktres na si Cristine Reyes tungkol sa bahagi ng kanyang childhood kung saan pansamantala siyang pinaampon ng kanyang ina. Sa interview niya sa ABS-CBN broadcaster na si Karen Davila, inamin niya na noong bata siya ay nahiwalay siya sa mga kapatid niya nang ipaalaga siya sa iba ng kanilang ina. “My mom,.....»»
Five groups target NAIA takeover
Five companies have signified their intention to take over the operations and management of the Ninoy Aquino International Airport or NAIA a few weeks after the Department of Transportation or DoTr opened the bidding for the P170.6-billion project. In a text message to the Daily Tribune on Wednesday, the DoTr confirmed that five potential bidders have bought bid documents for the project. As of 13 September, the interested companies include San Miguel Corp. or SMC, Spark 888 Management Inc., and Asian Airport Consortium. Two others who submitted bids — Manila International Airport Consortium or MIAC and GMR Group — have previously vied for the NAIA rehabilitation. MIAC is composed of Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Asia’s Emerging Dragon Corporation, Alliance Global — Infracorp Development Inc., Filinvest Development Corporation, and JG Summit Infrastructure Holdings Corporation along with Global Infrastructure Partners. Super consortium in running In 2018, the government awarded the Original Proponent Status for the NAIA rehabilitation to a “super-consortium” formed by seven of the country’s biggest conglomerates: Aboitiz InfraCapital Inc.; AC Infrastructure Holdings Corporation; Alliance Global Group Inc.; Asia’s Emerging Dragon Corporation; Filinvest Development Corporation; and JG Summit Holdings Inc. and Metro Pacific Investments Corp. It was, however, terminated. Thus, Megawide Construction Corp. and partner GMR Infrastructure Ltd. also submitted an unsolicited proposal to upgrade and rehabilitate the highly congested NAIA. Despite the substantial progress, the much-needed NAIA rehabilitation was back to square one after the previous administration also rejected the proposal. According to the MIAA, the Megawide consortium failed to convince the government of its financial ability to support the project. Meanwhile, the SMC., an Asian conglomerate led by businessman Ramon S. Ang, is currently taking on the P740-billion New Manila International Airport in Bulacan. Award out by December Previously, the DoTr conveyed that the contract may be awarded to the winning bidder as early as December if the government stays on schedule. The National Economic and Development Authority or NEDA, chaired by President Ferdinand R. Marcos Jr., approved the solicited bid to privatize the operations of NAIA. NEDA Secretary Arsenio Balisacan said the project will help address the long-standing issues at the country’s main air hub such as congestion and limited aircraft movements that usually cause inconvenience to passengers. The DoTr and the Manila International Airport Authority submitted a joint proposal to the NEDA Board to privatize the operations and management of NAIA within 15 years. The project is expected to improve the overall passenger experience and increase the current annual passenger capacity of NAIA to at least 62 million from the current 32 million. Previously, Transportation Secretary Jaime J. Bautista floated the possibility of closing down the airport — only if nearby airports become operational. Bautista explained that the government can have the option to close NAIA if airports in adjacent provinces like Cavite and Bulacan are ready to accommodate the travel-hungry tourists in the country — both local and international. “If there will be new airports, then the government can decide to close the Manila International Airport or MIA because it can be a valuable government asset. On the other hand, it is possible to continue its operations because of its prime location in the Metro,” Bautista told reporters. “So yes, it is possible to close, it is also possible not to close MIA,” he added. Bautista also assured that in case the airport continues its operations, SMC’s Bulacan Airport can still drive up profits despite the competition. The post Five groups target NAIA takeover appeared first on Daily Tribune......»»
Villar Group taps Korean operator for casino project
The Villar Group has chosen a Korean company, among several other companies who signified their intent, to operate the 80-hectare casino and entertainment complex that will soon open. In a recent interview with reporters, businessman Manual B. Villar disclosed that his Group has been consistently in discussion with one particular Korean company, which he refused to disclose the identity, for quite some time. “Well, I have been talking to a Korean firm and I don’t want to disclose what company it is but we have been talking for a while. This is final and we will start operations probably late this year or the first quarter of next year,” Villar said. Prime Asset Ventures Inc., the private investment company headed by Villar’s son Manuel Paolo A. Villar, through wholly-owned subsidiary Vertex Entertainment and Resort Corporation, undertakes the massive project. The complex, to be called the Gold Coast Entertainment City, will not be all about the casino but a place for shopping, dining, and entertainment following the development models of Disney. It is located in the Las Piñas-Parañaque area near the Ninoy Aquino International Airport. In another related development, the Villar Group has recently unveiled the 3,500-hectare Villar City— the family’s most ambitious project to date. According to Villar, he also plans to put up two casinos—a satellite one and a bigger one “with higher value”—within Villar City. The Villar City is envisioned to be a massive master-planned integrated development that will be composed of 15 satellite cities. It is poised to be about 10 times as big as Bonifacio Global City—indicating its sheer magnitude not only in terms of the number of homes, offices, and complexes that will be built within this vast community. The post Villar Group taps Korean operator for casino project appeared first on Daily Tribune......»»
JPE: Merger can’t happen
The proposed merger of the Land Bank of the Philippines and the Development Bank of the Philippines can’t be done because of legal infirmities — LandBank still holds the private shares it obtained after it absorbed the United Coconut Planters Bank or UCPB. “The problem there is how would they merge the two banks when UCPB, which was taken over by LandBank, had private shareholders, who were mostly coconut farmers,” according to Presidential Legal Counsel Juan Ponce Enrile. “Who are they to confiscate the properties of Filipinos? The Constitution says: ‘No person shall be deprived of life, liberty, and property without due process,’” he pointed out. “If President Ferdinand ‘Bongbong’ Marcos will ask my opinion on the merger, I will probably express a negative position,” Enrile said on his weekly program, Bayan ni Juan. Enrile blamed the Presidential Commission on Good Government or PCGG for mismanaging UCPB, which led to its bankruptcy, the reason for its consolidation with LandBank. “Who should be accountable for the millions of pesos lost in UCPB?” he asked. Enrile accused PCGG agents and nominees of squandering the money of the bank. Class suit appropriate “UCPB stockholders should file a class suit against the PCGG. It was not the fault of the share owners what happened to the bank, it was the fault of the government and the PCGG.” “They failed to manage the bank well considering that 72.5 percent of the bank’s shareholders were private individuals,” he said. “PCGG’s first chairman was former senator Jovito Salonga; he was then followed by a lineup of crocodiles who were responsible for the dissipation of the funds in UCPB,” according to Enrile. “UCPB, before it was taken over by the government, was a very lucrative and liquid bank. When the pilferers took over, we do not know what happened to the contributions of the coconut farmers,” he said. “Should we forget what happened, without anybody answering for it?” Enrile asked the Bureau of Internal Revenue, for instance, to run after the PCGG officials and employees who enriched themselves with the stolen money. “There were many who became rich at the expense of UCPB,” he said. “(The administration of the late President Cory Aquino) made it appear that UCPB was funded using ill-gotten money; they just did not understand the objective in creating the bank,” the former Senate President said. After the EDSA Revolt on 25 February 1986, among the first moves of the then “revolutionary government” of Aquino was to create the PCGG to investigate and recover the ill-gotten wealth. On 31 July 1987, the PCGG sequestered shares of stock in UCPB registered in the names of one million coconut farmers under the so-called Coconut Industry Investment Fund companies and those owned by tycoon Eduardo Cojuangco Jr. The sequestered UCPB shares were then worth an estimated P10 billion but have grown lately to around P70 billion, including the San Miguel Corp. shares bought with coconut levy funds. On 28 February 2001, the Sandiganbayan First Division ordered the PCGG to allow the CIIF companies and Cojuangco to vote on the sequestered UCPB shares. On 14 December 2001, the Supreme Court reversed Sandiganbayan’s decision, ruling that the PCGG had the right to vote on the sequestered UCPB shares. First universal bank UCPB, founded in 1938, was the first universal bank in the country. The PCGG argued that the sequestered UCPB shares were acquired with coconut levy funds, which were public in character. The CIIF companies and Cojuangco countered that they were the rightful owners of the sequestered UCPB shares. “The government takeover of UCPB was an injustice to the coconut farmers. Nothing has happened since to address the injustice,” Enrile said. After the funds of the bank were depleted, it borrowed money from LandBank. Enrile said the merger of LandBank with DBP will have the effect of removing the PCGG’s responsibility for the injustice done to the small farmers. “They want to erase the wrong done to the poor,” he said. “Those favoring the merger should be aware of the need to repeal the law that created the DBP to allow the transfer of its assets to LandBank. Both are chartered government enterprises,” Enrile noted. He added, “I respect the position of Finance Secretary Benjamin Diokno (in advocating the merger) but he is not a lawyer.” On 25 June 2021, former President Rodrigo Duterte signed Executive Order 142, approving the merger of LandBank and UCPB. On 14 December 2021, UCPB shareholders approved the merger plan. On 1 March 2022, the merger took effect. LandBank became the surviving entity and UCPB was dissolved. In July 2022, UCPB branches throughout the country started being converted to LandBank branches. On 1 March 2023, the merger was fully completed resulting in a combined asset base of P2.8 trillion, making LandBank the second-largest bank in the Philippines. The post JPE: Merger can’t happen appeared first on Daily Tribune......»»
Selling off ‘assets’
This week, the Department of Finance announced that it has started selling non-performing assets to generate cash and strengthen its balance sheet. The government has already sold assets worth P800 million in the first six months of the Marcos administration, and it plans to sell assets worth P1.9 billion in 2023, according to Finance Secretary Benjamin Diokno. The government’s asset sale program has several benefits and drawbacks. On the one hand, selling off non-performing assets can help the government generate much-needed funds. Priority projects, including infrastructure development, education, and healthcare, can be funded with the sale proceeds. Selling off non-performing assets can also assist the government in strengthening its balance sheet and lowering its debt load. The asset sale scheme, however, could also have significant disadvantages. For example, if the government sells off an excessive number of assets, it may be unable to continue offering the people basic services. Furthermore, the government may incur losses if it cannot sell its assets at a fair price. The government’s asset sale plan is comparable to initiatives taken by other nations. For instance, the US government has been selling off non-performing assets lately to generate cash and pay down debt. Ditto with the United Kingdom. The US Government Accountability Office, or GAO, reports that in 2022, the US government sold off assets worth $14.4 billion. These included possessions like land, boats, and cars. These sales generated money for several government initiatives, including funding the military, schools, and healthcare. In 2022, the UK government sold off a sizable number of assets. The Department for Business, Energy and Industrial Strategy — in charge of running UK’s asset sales program — sold assets worth £1.5 billion. This comprised property, stock in corporations, and government-owned structures. The National Health Service, education, and infrastructure were among the government projects that were supported using the money raised from these sales. The governments of the Philippines, the US, and UK are not the only ones that have sold off assets recently. Also last year, the Australian government sold assets worth $10.6 billion, while the Canadian government sold off $5.5 billion worth. The asset sale program of the Philippine government is akin to the initiatives to sell public property under the previous administrations of the late Noynoy Aquino and Marcos’ immediate predecessor, Rodrigo Duterte. Probably eclipsing all asset liquidation activities of any and all presidencies would be the one undertaken under the Ramos administration from 1992 to 1998. The Ramos government went on a selling spree of power plants, land, and other government properties, generating, according to one estimate, P70 billion. Overall, there are advantages and disadvantages to the Philippine government’s asset-selling policy. Before moving further, the government should carefully weigh the program’s possible advantages and disadvantages. The following points should be taken into consideration as the Marcos administration begins to sell off non-performing assets: Obtain a reasonable price for the assets, prevent the sale of too many assets that would limit the government’s ability to offer the public necessary services, and make sure that the money raised from the sales will go toward important initiatives like infrastructure development, education, and healthcare. Finally, the public should receive regular updates from the government regarding the asset sale process for there to be complete transparency. The sale of public property is a contentious topic. Some claim it is essential for governments to increase revenue and lower their debt load. Others contend that it is a means through which governments can privatize crucial services and lessen their responsibilities to the general populace. The post Selling off ‘assets’ appeared first on Daily Tribune......»»
Kris naka-survive na walang yaya sa loob ng 1 linggo, grateful sa mister
UNTIL now, naghahanap pa rin ng yaya ang aktres na si Kris Bernal. Ayon sa kanya, isang linggo na silang walang katuwang sa pag-aalaga sa anak nila ni Perry Choi na si Baby Hailee Lucca. Kaya naman, isang linggo rin siyang hindi nakapag-post sa social media. Recently lamang ay nagkaroon siya ng update at nabanggit nga.....»»
Numerous Individuals and Businesses Profit from Trump Media Stock
Former President Donald J. Trump’s social media company, Truth Social, had a successful first official trading session on the Nasdaq, with shares surging and approaching.....»»
Belmonte, Binay call for climate action funding from development banks
The C40 coalition of cities, a network of nearly 100 mayors, asked MDBs to increase urban climate investment, integrate urban climate action into their strategies, and implement tailored programs to support city projects. .....»»
Marcos tells Filipinos to serve others during Holy Week
President Ferdinand Marcos Jr.'s message to Filipinos during Holy Week encourages tham to "serve others.".....»»
Revisiting Uniteam (Last of 2 parts)
THE Uniteam coalition of President Ferdinand "Bongbong" Marcos Jr. and Vice President Sara Duterte, described by many political analysts as the "dream team", had come a long way since sweeping the 2022 elections......»»
Trending tickers: Trump Media, Tesla, Bitcoin and DS Smith
Former US president Donald Trump’s media firm, Trump Media & Technology Group, had a successful stock market debut in New York, with shares soaring past.....»»
House leaves Quiboloy’s fate to Senate
The House of Representatives will no longer pursue and implement the warrant of arrest it issued against pastor Apollo Quiboloy after it approved on final reading the bill revoking the franchise of the evangelist’s alleged TV network......»»
Power fluctuations hit NAIA
Passengers sweltered as power fluctuations hit the Ninoy Aquino International Airport Terminal 2 at around 10 a.m. yesterday......»»
Marcos Jr. eyes stronger maritime ties with India
The Philippines is seeking stronger maritime security cooperation with India to ensure the safety of seafarers from both nations as the world’s oceans are becoming more dangerous for commercial shipping, President Marcos said......»»
Roque: Xi, Duterte agreed to keep West Philippines Sea status quo
The Philippines under former president Rodrigo Duterte had a “gentleman’s agreement” with China to keep the status quo in the West Philippine Sea, a former Cabinet official said yesterday, as fresh tensions surround the WPS due to recent incursions by Beijing that targeted a Filipino resupply mission and a research team......»»
EDITORIAL — An endangered lake
In January this year, President Marcos directed the Department of Agriculture to increase fish production to meet the national demand......»»
Gathering of champions
The stars descended on the Okada Grand Ballroom last Sunday as former world boxing champions gathered to celebrate the launch of the 1st Pacquiao-Elorde Awards Night with WBC president Mauricio Sulaiman as guest of honor and speaker......»»
New DCPO chief to focus on personnel morale, asset optimization
THE Davao City Police Office (DCPO) bid farewell to PCol. Alberto Lupaz and welcomed its new City Director, PCol. Richard Bad-ang, in a turn-over ceremony at the Camp Captain Domingo E. Leonor on March 22......»»
PSAC welcomes Blinken’s bid to deepen bilateral ties
Private sector leaders have extended their full support to President Marcos as he deepened ties with the United States during US Secretary of State Antony Blinken’s diplomatic visit to the country last March 19......»»
EAM Jaishankar conveys PM Modi s greetings as he calls on Philippine President Marcos
Manila [Philippines], March 26 (ANI): External Affairs Minister, S Jaishankar on Tuesday called on Philippine President Bongbong Marcos and conveyed the greetings of President Droupadi Murmu and Prime Minister NarendraModi to President Marcos. "Honoured to call-on President @bongbongmarcos of the Philippines. Conveyed the personal greetings of President @rashtrapatibhvn and PM @narendramodi. Valued his warm sentiments tow.....»»