China& rsquo;s 1981 women& rsquo;s volleyballers & lsquo;inspired a billion& rsquo;
Shanghai, China---On November 16, 1981, millions of people across China crowded around radios and televisions with flickering signals for a women’s volleyball match whose significance went far beyond sport......»»
PBBM brings home $120-million investment contract from Saudi Arabia trip
President Ferdinand Marcos Jr. on Saturday said he secured a $120-million investment contract for the Philippines amid a short trip to the Kingdom of Saudi Arabia. In his arrival speech at Villamor Airbase in Pasay, Marcos said Saudi Arabia expects to invest in the Philippines, making their partnership a "two-way street." "It's time that they bring investment to the Philippines to support their food supply situation, and to support the industries that they are going to expand," Marcos said. Still, the Philippines relies on its labor export background. The country signed multiple Saudi investment deals. Marcos claimed $4.26 billion in deals will help 15,000 Filipinos "in training and employment opportunities across a wide range of professions in the construction industry." A $120 million investment in the Philippines will train at least 2,000 Filipinos in construction crafts. To work on Saudi projects, Filipino skilled laborers are to be sent. Marcos' backing for these ventures reflects the Philippines' long-standing labor export program, which has produced billions in remittances. Marcos also told Filipinos that he would continue to promote the Philippines as a dynamic economic environment and deepen links with the Arab country on his overseas journey. "Let me assure you that we will continue to advance our national interest as we further expand our partnerships abroad," he added. Marcos also assured that his administration promoted the country's priority abroad. He emphasized collaboration in food and energy security, logistics and supply chains, digital transformation, and free trade. President Marcos declared he wanted to protect and upskill 2 million hardworking Filipinos in the Middle East. Marcos asked his fellow leaders from the two blocs to preserve a rules-based international order to ensure world harmony, especially with the Israeli-Hamas war. "The summit also provided ASEAN and GCC leaders an opportunity to convey their views on the ongoing conflict in Israel and Gaza. I shared our hope for peace, that it should prevail, and for the welfare and safety of civilians to be upheld in accordance with international humanitarian law," he said during his arrival speech. He urged Gulf governments to collaborate with ASEAN 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 stability and prosperity of our countries and the rest of the world." The post PBBM brings home $120-million investment contract from Saudi Arabia trip appeared first on Daily Tribune......»»
Phl economy still strongest this year — RCBC
The Philippine economy will remain among Asia’s strongest in the fourth quarter despite a possible higher interest rate because of strong consumer demand for certain products and services and more employed Filipinos, the chief economist of Rizal Commercial Banking Corporation said Saturday. “This growth forecast is still among the fastest in the region because our economy is doing well,” RCBC’s Michael Ricafort said. The World Bank recently downgraded this year’s Philippine economic growth to 5.6 percent from 6 percent due to inflation risks, apart from lower government spending and weaker demand for exports. However, it is still higher than China’s 5.1 percent, Indonesia’s 4.9 percent, and Malaysia’s 4.3 percent growth forecast. Ricafort said the Bangko Sentral ng Pilipinas (BSP) might raise its policy rate this year to slow inflation to 4 percent by year-end after it accelerated again to 6.1 percent last month. “The BSP is working to bring down prices of goods and services. As an unintended consequence, the economy could slow down. Borrowing costs for business owners also increase and consumer demand weakens,” he said. Ricafort said global oil prices have started falling which could discourage the central bank from raising its rate drastically. “Global oil prices have declined to $82 to $83 per barrel from a peak of $95 per barrel last month or since the war between oil-rich countries Russia and Ukraine began,” the economist said. He also expected a downtrend in rice prices starting this month as he said local farmers have begun collecting fresh harvests. “Inflation quickened last month mainly from higher prices of rice which accounted for nearly 9 percent of the inflation basket and grew 17 percent year-on-year,” Ricafort said. While a higher interest rate aims to slow consumption, Ricafort said the continued flow of remittances from overseas Filipino workers, or at least 3 percent growth yearly will still support substantial levels of consumer spending, especially during the Christmas season. “That is more than $40 billion a year. That’s the fourth largest in the world after India, China and Mexico,” the economist said. He added more Filipinos or 800,000 could earn from business process outsourcing or BPO this year as the industry’s revenue could rise from $32.5 billion to $59 billion based on data from the Contact Center Association of the Philippines. Another growth area is tourism, which Ricafort said saw 4 million foreign visitors last month, nearing the 4.8 million full-year target of the government. He added higher productivity among Filipinos is also expected as the country’s unemployment rate declined to 4.4 percent in August from 4.8 percent in July, based on data from the Philippine Statistics Authority. Moving forward, Ricafort said the government must improve science and technology education for higher quality jobs and increase spending on infrastructure amid the full reopening of most economies. “We are now fully reopened. Students are also back in schools which encourages putting up food businesses. Labor market in the US also improved which will affect export trade,” he said. Ricafort added the government could continue distributing financial and other assistance to farmers to control inflation. He believed the inflation rate will approach 3 percent next year, close to the ideal 2 percent for healthier economic growth. The post Phl economy still strongest this year — RCBC appeared first on Daily Tribune......»»
Amazon launches test satellites in challenge to Musk’s Starlink
Amazon launched two satellites on Friday as part of its plan to deliver the internet from space and compete with Elon Musk's Starlink service. The Atlas V rocket carrying the satellites lifted off from Cape Canaveral in Florida at 2:06 pm local time (6:06 pm GMT). The launch was carried out by the United Launch Alliance (ULA) industrial group, a joint venture between Boeing and Lockheed Martin. Once up and running, the company founded by Jeff Bezos says its Project Kuiper will provide "fast, affordable broadband to unserved and underserved communities around the world," with a constellation of more than 3,200 satellites in low Earth orbit (LEO). "We've done extensive testing here in our lab and have a high degree of confidence in our satellite design, but there's no substitute for on-orbit testing," said Rajeev Badyal, Project Kuiper's vice president of technology. The company has said it would invest $10 billion in the project and has booked 77 heavy-lift launches with commercial providers Arianespace, ULA, and Bezos-owned Blue Origin. The first operational satellites of the Kuiper project are due to be launched in early 2024, according to Amazon, which hopes for initial tests with customers at the end of next year. The test on Friday attempted to establish contact between the probes and Earth, deploy their solar panels, and confirm that all instruments are operating correctly and at the desired temperatures. The two prototypes will then be removed from orbit and disintegrated in the Earth's atmosphere at the end of the test mission. These services are designed to provide internet access to even the most remote and underserved areas around the world, including war zones or disaster-struck areas. Musk's SpaceX launched the first batch of its more than 3,700 operational Starlink satellites in 2019 and is by far the biggest player. Musk's ownership of Starlink caused uproar in Ukraine last month when it was revealed that he refused to turn on the service for a planned attack by Kyiv forces on Russia's Black Sea navy fleet last year. London-headquartered OneWeb is another early entrant in the emerging sector. Given the technology's strategic importance, governments are also keen to join the rush into the sector. China plans to launch 13,000 satellites as part of its GuoWang constellation, while Canada's Telesat will add 300 and German start-up Rivada is eyeing 600. That will be in addition to the European Union's Iris project -- 170 satellites -- and the 300-500 satellites planned to be launched by the US military's Space Development Agency. The post Amazon launches test satellites in challenge to Musk’s Starlink appeared first on Daily Tribune......»»
Bong Go shows full support to Filipino athletes in 19th Asian Games
Senator Christopher "Bong" Go, chairperson of the Senate Committee on Sports, articulated his deep sense of pride for Filipino athletes participating in the 19th Asian Games being held in Hangzhou City, China, from 23 September to 8 October. The senator personally traveled to China to show his full support for the Philippine delegation early this week. He also attended live competitions, including the recent match between Gilas Pilipinas and Iran at Zijingang Gymnasium, Zhejiang University on 3 October. “Nakapanood din tayo ng ilang live competitions, gaya na lang ng nakaraang laban ng Gilas Pilipinas kontra sa Iran," he said. “Masarap talaga ang pakiramdam bilang isang Pilipino dahil muling nagwagi ang pambato natin sa basketball na Gilas Pilipinas,” he shared. Go, chairperson of the Senate Committee on Sports, expressed his appreciation and heartfelt gratitude to the athletes, coaches, national sports associations and staff, as well as the Philippine Olympic Committee, Philippine Sports Commission and other agencies who worked hard to support the Philippine delegation. "Bilang chair ng Senate Committee on Sports, taus-puso kong pinupuri at pinasasalamatan ang mga manlalaro nating ibinibigay ang lahat para itaas ang bandera ng Pilipinas sa ginaganap na kumpetisyon," he said. Meanwhile, Go also congratulated Gilas Pilipinas for their historic win over China in the semifinals on October 4, which secured their spot in the gold medal match against Jordan. He praised Justin Brownlee for his clutch performance that led the team to a stunning comeback from a 20-point deficit. The senator also expressed his excitement for the upcoming gold medal match between Gilas Pilipinas and Jordan. He said he will be cheering for the team as they aim to win the country’s first-ever Asian Games gold in basketball. The match is scheduled for 6 October. Go then lauded jiu-jitsu fighter Margarita "Meggie" Ochoa for winning the second gold medal for the Philippines on 5 October. Ochoa defeated Balqees Abdulla of the United Arab Emirates in the final match of the women's –48 kg division. She joined pole vaulter Ernest John Obiena as the country's gold medalists in this edition of the Asian Games. “Samantala, ang boxer na si Eumir Marcial ay pasok na rin sa Asian Games finals matapos niyang ma-knockout ang Syrian boxer na si Ahmad Ghousoon sa men's 80kg weight class nitong October 4. Dahil dito, haharapin ni Eumir sa finals si Tanglatihan Tuohetaerbieke ng China para sa gold medal. Pasok na rin si Eumir sa 2024 Paris Olympics,” Go also mentioned. As vice chairperson of the Senate Committee on Finance, Go has also been a strong advocate for increased funding for sports programs. He revealed that last year's proposed budget for the Philippine Sports Commission was approximately P200 million. However, he pushed for an additional P1 billion, thereby significantly enhancing the financial support for athletes in international competitions. "Dahil dito, nakapagbigay tayo ng pinansyal na suporta para sa mga atletang lumahok sa mga international competitions," he added. This move paved the way for the provision of financial support for athletes participating in international competitions, including the recent 2023 Southeast Asian Games in Cambodia and the ongoing Asian Games in China. Go also emphasized the importance of grassroots sports development, saying, “Tinututukan din natin ang grassroots sports development upang mahubog ang mga kabataan nasaan man sila sa bansa na nagnanais na sumabak sa mga pambansa at pandaigdigang palaro.” In line with this, he highlighted his role as the author and co-sponsor of RA 11470, which established the National Academy of Sports in New Clark City, Tarlac. "Ang NAS ay nagbibigay ng de-kalidad na edukasyon at sports training sa mga batang may potensyal na maging world-class athletes," he added. Additionally, Go filed SBN 423, or the Philippine National Games (PNG) Act, to institutionalize a national platform for athletes, especially the youth, to showcase their talents. "Sa pamamagitan ng PNG, mas maraming talento ang mabibigyan ng pagkakataon na makilala at mapabilang sa ating mga national team," he said. The senator also continues to support the implementation of sports clinics, community leagues, and the provision of sports equipment in rural areas. "Sabi ko nga palagi, ‘get into sports and stay away from drugs!’" he advised. Go called on all Filipinos to continue supporting and praying for all athletes competing in the Asian Games and other competitions. "Ang kanilang tagumpay ay tagumpay ng buong sambayanang Pilipino! Laban, Pilipinas! Ipakita natin ang puso ng Pilipino na lumalaban hanggang dulo!" he exclaimed. "Go, go, go for the gold!" he cheered. As of 5 October, the Philippines has two golds, one silver, and nine bronze medals in the ongoing Asian Games. The post Bong Go shows full support to Filipino athletes in 19th Asian Games appeared first on Daily Tribune......»»
India, Nepal each received less than 1 per cent of international funding for tackling air pollution during 2015-2021: Report
By Vishu AdhanaNew Delhi [India], October 3 (ANI) India and Nepal each have received less than 1 percent of the USD 17.3 billion provided by international development funders to address air pollution between 2015 and 2021, a report shows. Whereas, 86 percent of funding went to five nations: China, the Philippines, Bangladesh, Mongolia, and Pakistan. The report-- State of Global Aiir Quality Funding 2023--has been publishe.....»»
Uy resort units chart recovery
Subsidiaries of Davao businessmen Dennis Uy resort developer PH Resorts Group Holdings Inc. said it has restructured its indebtedness with China Banking Corp., or Chinabank. The debts were streamlined through the execution of agreements for the sale, leaseback, with option to buyback certain land and improvements of its subsidiaries. The restructuring covers the property of the subsidiaries in Lapu-Lapu City, Mactan, Cebu, with an area of approximately 12.5 hectares, plus improvements. The consideration for the investment and resulting percentage of ownership are still subject to final negotiations by the Parties, which are expected to be completed within 60 days, based on the MoU. P3.1-B bridge loan The restructuring also allows the subsidiaries to repay the P3.1-billion bridge loan facility extended by Chinabank in 2018, while, at the same time, grants them continued possession and use over the property to finish the construction and development of the Emerald Bay Project. In addition, the option to buy back of the restructuring allows the subsidiaries or its nominees to reacquire the properties. Lapulapu Leisure Inc. and Lapulapu Land Corp., the two units of Resorts Group Holdings also signed a memorandum of understanding with Cebu-based property developer AppleOne Properties Inc. The MoU establishes broad parameters whereby AppleOne can make an investment in the subsidiaries, with the intention of obtaining most of the equity interest in the subsidiaries, or an asset purchase of the land and improvements of the Emerald Bay Project. The post Uy resort units chart recovery appeared first on Daily Tribune......»»
SBG rallies support for Filipino athletes in 19th Asian Games
Senator Bong Go, chairperson of the Senate Committee on Sports, recently expressed his full support for Filipino athletes participating in the ongoing 19th Asian Games in Hangzhou City, China. "Suportahan natin ang mga kababayan nating sumasabak sa kasalukuyang 19th Asian Games sa Hangzhou City, China," he said in a statement upon arriving in China to show his personal support to the Philippine delegation. “Bilang chair ng Senate Committee on Sports, taus-puso kong pinupuri at pinasasalamatan ang mga manlalaro nating ibinibigay ang lahat para itaas ang bandera ng Pilipinas sa ginaganap na kompetisyon. Manalo man o matalo, ang importante ay magkaisa tayo para sa ating mga atletang Pilipino!” added the senator. "Our unity is the best form of moral support to inspire our competing athletes to give their best. Let us all rally behind them as they continue to bring glory to our country. Laban Pilipinas! Ipakita natin ang puso ng Pilipino na lumalaban hanggang dulo!" he said. As of 2 October, the Philippines has won one gold, one silver, and eight bronze medals at the Games so far. The country's lone gold medal was won by Ernest John Obiena in Athletics, specifically in the men's pole vault event. Arnel Mandal added a silver medal to the tally in the men's 56kg wushu competition. The bronze medalists include Patrick King Perez in Taekwondo's men's individual poomsae, Jones Llabres Inso in Wushu's men's taijiquan/taijijian all-around, Gideon Fred Padua in wushu's men's 60kg, and Clemente Tabugara Jr in wushu's men's 65kg. In Tennis, Alexandra Eala secured a bronze in Women's singles and another bronze in Mixed doubles alongside Francis Casey Alcantara. Eleven Ando also captured bronze in the women's weightlifting 64kg division. Rounding out the bronze medalists is Patrick Bren Coo in Cycling BMX racing for Men. Go, vice chairperson of the Senate Committee on Finance, has strongly advocated for increased funding for sports programs under the Philippine Sports Commission, particularly in support of athletes competing in international competitions this year. "During the budget deliberation last year, ang ipinasa po na budget ng PSC more or less about P200 million. Ako po mismo sa Senado bilang inyong chairman po ng Committee on Sports and as vice chair ng Committee on Finance, isinulong ko talaga na madagdagan po ng P1 billion po ang pondo ng Philippine Sports Commission," he said. This move secured financial support for athletes participating in international competitions, including the 2023 Southeast Asian Games in Cambodia and the current Asian Games in China. He disclosed an allocation of P50 million through the PSC for the Asian Games, along with P30 million specifically for Asian para-games. To promote greater inclusivity and equality in sports, Go also proposed Senate Bill No. 2116, which aims to amend Republic Act No. 10699, also known as the National Athletes and Coaches Benefits and Incentives Act. The bill seeks to provide enhanced financial incentives and benefits for para-athletes who represent the Philippines in international competitions. He emphasized the need for increased incentives for para-athletes, stating, "Sana po’y ma-increase naman rin po ang kanilang incentives na natatanggap dahil ‘yung honor po na dala nila sa ating bayan, pareho naman po ‘yong gold, silver, bronze at pinaghirapan rin po nila." In line with his advocacy for grassroots sports development, Go also championed the National Academy of Sports, a fully operational institution located in New Clark City in Tarlac which was enacted into law that he authored and co-sponsored. Go is also prioritizing the institutionalization of the Philippine National Games as a platform to scout and recruit athletes for the national pool. He filed SBN 423, or the proposed PNG Act, which seeks to create a nationwide platform for athletes, particularly the youth, to display their abilities. The Asian Games is being held from 23 September to 8 October. The event was originally scheduled for 2022 but was postponed due to the COVID-19 pandemic. The post SBG rallies support for Filipino athletes in 19th Asian Games appeared first on Daily Tribune......»»
NOW Telecom appeals to SC over ‘erroneous’ NTC fine
NOW Telecom Inc. of businessman Mel Velarde has elevated its appeal to the Supreme Court or SC to settle the alleged P2.6 billion in spectrum regulatory fees or SRF and associated charges it allegedly owes the National Telecommunications Commission or NTC. The company, through a 22-page comment dated 1 September 2023 filed before the SC, pointed out that the regulatory fees and penalties imposed were "erroneous" and needed to be recomputed. NOW Telecom is disputing the NTC's calculation, which was based on the total capital stock of P13.57 billion instead of the subscribed and paid-up capital of P1.39 billion. The company pointed out that the additional paid-in capital of P12.17 billion should be excluded from the computation. Thus, it requested the High Court to order NTC to recompute the SRF and base it solely on its capital stock of P1.39 billion and set aside the regulator's letters assessments dated 5 July 2025, and 23 December 2005. Additionally, the company also asked the SC to delete the imposition of any penalty and interest. “We are confident that this SRF issue will be finally resolved. NOW Telecom continues to appeal to the Marcos administration to (maintain) a level playing field, for NOW to compete head-on with China Telecom/DITO and Huawei-equipped SMART and GLOBE,” Velarde said in a press statement on Tuesday. NOW Telecom also contended that the NTC's reference to a COA letter was flawed due to discrepancies. The COA letter claims over P3 billion in unresolved receivables that spanned 14 years. "The crucial COA Letter was conspicuously absent from NTC's official documents, replaced by correspondence with the Office of the Solicitor General, casting doubts on the authenticity of the claim," it added. NOW Telecom additionally said that "the staggering amount imposed by the NTC as penalties and interest does not align with the purpose of the law." "As the term itself implies, the amount of the SRF collected is supposed to be commensurate to, and is simply intended to reimburse the NTC for the costs it incurs in supervising and regulating the telecommunications industry," the company said, adding that the SRF is not a tax or a revenue-raising measure. Last June, it can be recalled that the Securities and Exchange Commission or SEC fined NOW Corp. and Velarde P1 million each for allegedly “misleading disclosures” about the P2.6-billion unpaid obligation of affiliate company NOW Telecom to the government. In a seven-page order dated 15 June 2023, the SEC affirmed that NOW Corp. and Velarde were administratively liable for violating the Securities Regulation Code or SRC for disclosing misleading information to the public. The disclosure in question was the one posted on 10 November 2021, which stated that NOW Corp. was unaware of the details surrounding the motions filed by the NTC with the SC. The SEC pointed out that as one of the concurrent key officials of both NOW Corp. and NOW Telecom, Velarde is “considered to have ipso facto participated in the transactions” relating to the unpaid SRF and SUF liability of NOW Telecom. The post NOW Telecom appeals to SC over ‘erroneous’ NTC fine appeared first on Daily Tribune......»»
Biggest franchise expo rides on growth
Franchising is expected to earn an unprecedented P30 billion by the end of the year, based on industry projections. During the Franchise Asia Philippines 2023 International Expo briefing on Monday, Philippine Franchise Association chairperson Sherill Quintana said that franchising revenues has reached P27 billion in the year to date, already surpassing the pre-pandemic 2019 revenues of P25 billion. With the growing local market, Quintana said global franchise brands should consider the Philippines as their “launching pad” in Asia. “The future is Asia, and the Philippines will be the launch pad for what the Asian economy will be able to seize for the global market,” Quintana said in a press conference in Quezon City. In the next five years, she said her group is expecting to reap 10 to 13 percent revenues for the industry over the next five years. PFA president Chris Lim said the exposition will be the biggest franchise show that the country hosted in the past 10 years. Franchise Asia Philippines 2023 International Franchise Expo will run from 27 to 29 October and the meetings of the World Franchise Council and the Asia Pacific Franchise Confederation from 24 to 30 October 2023. “More than a decade ago was the last time that a similar event was held in the Philippines, so it is really a very momentous occasion. And what a great way to really celebrate and to really show that we’re back in business, that the franchise industry in the Philippines is as vibrant as ever,” Lim added. SMX Convention Center taken up Franchise Asia Philippines 2023 overall co-chair Richard Sanz said this will be the first time for a franchise event to occupy the entire SMX Convention Center in Pasay City to showcase 1,000 local and global franchise brands from 26 countries. Further, he said 39 percent of the expo participants are new exhibitors with new concepts such as breastfeeding center, agriculture supplies, automated retail and convenience store, vape store and kickboxing gym. “This speaks of the vibrancy of the franchise sector with new players joining the market,” he said. Sanz mentioned that also 20 percent of the participants are international brands from Australia, China, Japan, Korea, Malaysia, Sinapore, Taiwan, Thailand and the United States. More than 50,000 exhibitors are expected to attend the expo. “This highlights the continued interest among Filipinos in franchising as an investment option,” Sanz said. The post Biggest franchise expo rides on growth appeared first on Daily Tribune......»»
Sovereign interest
The Philippines is earning plaudits for the Marcos administration’s tough balancing act of asserting its territorial claim on the West Philippine Sea while preventing the tense situation with China from escalating. President Ferdinand “Bongbong” Marcos Jr. has made it his policy to improve relations with the United States that were strained under the last administration, while continuing to engage with China but recognizing the need to respect each country’s position. Sydney-based think tank Lowy Institute cited recent moves by the country that showed it will not back down from China’s assertiveness, but neither will it take actions to provoke its anger. “While Beijing attempts to tighten its grip on the region with a new ten-dash line, a multi-billion dollar military modernization drive is underway in the Philippines,” a Lowy report said. It said many analysts believe that Manila’s pronouncements about confrontation are “gestures” rather than real attempts to challenge China. An open conflict would have tremendous geopolitical and economic costs for the Philippines. “Beijing remains Manila’s top trade partner and import supplier,” Lowy said. It cited instances in which the Philippines stepped back from adding fuel to the fire. “The Philippines’ decision to skip last month’s joint military exercise with the United States, Australia and Japan in the South China Sea is seen as a way of avoiding conflict with China,” it noted. It said that Defense Secretary Gilbert Teodoro had refused to cooperate with Taiwan on security issues, which has been viewed as the country’s continued adherence to the One-China policy. “Despite his harsh remarks on Beijing, some Chinese international relations experts are optimistic about the appointment of Teodoro Locsin as Manila’s Special Envoy to China as he has not only favored cooperation with Beijing but has been critical of the West,” it added. Lowy said Locsin’s appointment is read as Manila’s attempt to stabilize ties with Beijing, adding that “others are disappointed with the choice.” This recognition from independent observers indicates the Marcos administration is skillfully threading a thin line to show it is insisting on its sovereign stake while pushing back against Beijing. Manila’s resupply mission to the BRP Sierra Madre landing craft, for instance, which is considered the eye of the storm in the current friction, has been a pure play by Philippine forces. Manila’s supply and coast guard ships are constantly in a game of tag with huge Chinese Coast Guard vessels which try to frustrate the provision of supplies to the platoon of Marines guarding the outpost. Last month, China’s coast guard water-cannoned a Navy supply boat. Beijing’s Ministry of Foreign Affairs justified this as “safeguarding our sovereignty in accordance with law” and criticized Manila for “ignoring China’s goodwill and sincerity.” China then demanded the Philippines remove the beached Sierra Madre. Lowy reported that “Manila has further aggravated Beijing by describing the danger of conflict in the Taiwan Strait as a ‘major security concern,’ in its newly published National Security Policy.” It quoted various state mouthpieces in China as having criticized former Philippine President Rodrigo Duterte’s condemnation of the ten-dash line and his claim that Manila “wouldn’t resist a fight” for its maritime rights. China has always referred to the Duterte period as when an ideal engagement had existed with the Philippines. Duterte initially exerted efforts to win the trust of the Chinese but had always indicated to President Xi Jinping that he would have to raise at some point the decision of the Permanent Court of Arbitration that favored the Philippines. China continues to follow its playbook that the Philippines is being manipulated by the US to take bold actions in the West Philippine Sea conflict. Beijing glosses over the fact that when the late President Noynoy Aquino bungled the handling of the 2012 faceoff with China, it was the US that abandoned the Philippines as it did nothing to stop the reclamation of features in the disputed area. Similarly, China has advocated dialogue but, thus far, nothing has come of it, even after the Philippines gave way to its wishes over the past six and more years. The post Sovereign interest appeared first on Daily Tribune......»»
‘Intel fund requests being abused’
A lawmaker said Monday the grant of confidential and intelligence funds under the national budget has become a trend that several government agencies have abused. Iloilo Rep. Janette Garin on Monday said there has been a noticeable increase in the allocation of confidential and intelligence funds in recent years granted to various agencies unrelated to national security or surveillance. “There are many who have joined the trend and abused it,” Garin said. “If you look at the historical data, the jump started in 2017, when the total confidential fund in 2016 was P720 million. In 2017, it jumped to P2.07 billion and by 2020, it more than doubled to P4.57 billion,” she said. The marathon deliberations on the proposed P5.768-trillion national budget for 2024 had led to intense debates in the House, particularly on the grant of multi-million-peso confidential funds to numerous civilian agencies, including the Office of the Vice President and the Department of Education. Last week, Marikina Rep. Stella Quimbo, the senior vice chair of the House appropriations panel, said that about 10 government agencies, including the OVP and DepEd, which Vice President Sara Duterte both heads, are expected to be affected by the House’s plan to realign the confidential funds to national security agencies. The realignment is being mulled amid China’s persistent assertiveness inside Philippine territory in the West Philippine Sea. Duterte sought P2.395 billion and P758.6 billion for the OVP and DepEd, respectively, in the proposed 2024 budget, including P500 million and P150 million, respectively, in confidential funds. The post ‘Intel fund requests being abused’ appeared first on Daily Tribune......»»
Indonesia launches Southeast Asia’s first high-speed rail
Indonesia launched Southeast Asia's first high-speed railway on Monday, a delayed, multibillion-dollar project backed by China that President Joko Widodo hailed as "a symbol of our modernization". With a top speed of 350 kilometers (220 miles) per hour, the bullet train "Whoosh" can get between the capital Jakarta and Bandung in 45 minutes. The 140 km journey would previously have taken about three hours by train. "The Jakarta-Bandung high-speed train marks our efficient, friendly, and integrated mass transportation system," Widodo said during a ceremony at the capital's central station. "It is a symbol of our modernization in the public transport, seamlessly connecting with other modes of transportation." Widodo said the 600-capacity train was the first high-speed rail transportation in Southeast Asia. It is part of Beijing's Belt and Road initiative -- a decade-old program of China-backed infrastructure projects. The president said the name was actually an acronym, standing for a tagline of "Waktu Hemat, Operasi Optimal, Sistem Handal" -- which in Bahasa Indonesia means "Saving time, optimal operation, reliable system". It was built by PT KCIC, which is made up of four Indonesian state companies and Beijing's China Railway International Co. The project was initially set to cost less than $5 billion and be completed by 2019. However, delays caused by construction challenges and the Covid-19 pandemic led to a surge in costs. In preparation for its opening, officials have conducted public trials for the new high-speed route. Last week, Transportation Minister Budi Karya Sumadi confirmed that the government would extend the high-speed train route from Bandung to the country's second-biggest city Surabaya. Last month, Chinese Premier Li Qiang joined Senior Minister Luhut Pandjaitan on a ride aboard the train during his Jakarta visit for summits with Southeast Asian leaders. Pandjaitan told reporters on Thursday that Widodo plans to welcome Chinese President Xi Jinping in the future to ride the train, but did not give more specifics. agn/ebe/sn/leg © Agence France-Presse The post Indonesia launches Southeast Asia’s first high-speed rail appeared first on Daily Tribune......»»
Online scam movie ‘tarnishes’ Myanmar’s image
A Chinese blockbuster movie about trafficked online scammers has angered Myanmar’s junta for allegedly portraying the Southeast Asia country in bad light. “The storylines are related to Myanmar,” the junta’s consul-general in southwest China’s Nanning told government officials in Guangxi region, China earlier this week, according to state newspaper the Global New Light of Myanmar. The Chinese thriller “No More Bets” tells the story of a computer programmer who is trafficked to an unnamed Southeast Asian country and forced to work as an online scammer for a syndicate. The movie does not mention Myanmar by name but its setting resembles the country’s lawless northern reaches, where Beijing says its citizens are regularly lured or trafficked and forced to work scamming their compatriots online. Despite only being released in August, “No More Bets” has become the third-most-popular film in China this year, raking in 3.8 billion yuan ($521 million) and super-charging online discussion about the dangers of visiting Southeast Asia. The month before the film’s release, China told Myanmar’s junta to “root out” online scam centers in its lawless borderlands that target Chinese citizens. The film has not been shown in Myanmar cinemas. WITH AFP The post Online scam movie ‘tarnishes’ Myanmar’s image appeared first on Daily Tribune......»»
Vietnam economy grows 5.3% in third quarter
Vietnam's economy grew 5.3 percent on-year in the third quarter, official data showed Friday, though experts warned it was on course to miss an ambitious year-end target. Loan interest rate reductions, an extension of tax payments and increased public investment had a positive impact, the General Statistics Office said. But analysts warn it will be an uphill battle for the clothing, shoes and electronics manufacturing hub to reach a year-end target of 6.5 percent expansion for 2023. "Vietnam would only reach a year-end economic growth of between 4.5 percent and 4.7 percent, much lower than the government's set target," Rong Viet Stocks Company chief economist Tran Thi Ha My told AFP. "Growth for the fourth quarter is expected to be at around six percent... largely thanks to improved industrial production and exports." According to GSO, a slump in demand hit the country's exports. One of Vietnam's largest shoemakers for brands such as Nike, Adidas and Reebok announced in August it would cut jobs for the third time this year. Vietnam earned nearly $260 billion in the first nine months from exports. The communist state has long been a success story among Asian economies and in 2022, its economy grew eight percent. The Asian Development Bank predicts 5.8 percent growth for Vietnam's year-end figure, "mainly due to weak external demand". "Weak external environment, including from a subdued recovery in the People's Republic of China, has hampered export-led manufacturing, thus shrinking industrial production in Vietnam," the bank’s Vietnam country director Shantanu Chakraborty said this week. "The economy remains resilient, and recovery is expected to pick up in the near term, driven by strong domestic consumption, which is supported by moderate inflation, an acceleration of public investment and improved trade activities." The GSO reported that 776,000 more laborers in Vietnam have found jobs since the beginning of the year, compared with the same period last year. Average monthly income was around $288, nearly seven percent higher, GSO said. The post Vietnam economy grows 5.3% in third quarter appeared first on Daily Tribune......»»
Sub bolsters Taiwan defense vs China
Taiwan unveiled its first domestically built submarine on Thursday to bolster the island’s defenses against China. President Tsai Ing-wen presided over the launch ceremony for the Hai Kun or “Narwhal” in English at CSBC Corporation's Kaohsiung shipyard, according to Taiwan News. Tsai performed the bottle-breaking ritual and named the submarine, which means “giant fish” in Chinese. National Security Council Secretary General Wellington Koo, American Institute in Taiwan Director Sandra Oudkirk, Defense Minister Chiu Kuo-cheng, Kaohsiung Mayor Chen Chi-mai and other dignitaries attended the ceremony, CNA reported. Strongly opposed by Beijing for her refusal to accept China’s authority over the island, Tsai launched a submarine program in 2016 with the aim of delivering a fleet of eight vessels. Construction on the first started in 2020 by CSBC Corporation, a company specializing in container ships and military vessels. Carrying a price tag of $1.5 billion, the submarine’s displacement weight is about 2,500 to 3,000 tons, with its combat systems and torpedoes sourced from the United States defense company Lockheed Martin. Ben Lewis, a US-based independent analyst who focuses on the Chinese military’s movements around the island, said the Taiwanese submarine can pose a threat to Chinese amphibious assault and troop transport capabilities. “They have practised extensively the use of civilian vessels to augment their existing troop delivery platforms, and a submarine could wreak havoc on vessels not designed for naval warfare,” Lewis said. The submarine will still need at least three years to become operational, Zivon Wang, a military analyst at Taipei-based think tank the Chinese Council of Advanced Policy Studies, said. “The launch... does not mean that Taiwan will become very powerful right away but it is a crucial element of Taiwan’s defense strategy and a part of our efforts to build deterrence capabilities,” Wang said. China’s state-run Global Times on Monday published an op-ed saying Taiwan’s submarine deployment plan to block the Chinese military was “daydreaming.” “The plan is just an illusion of the island attempting to resist reunification by force,” it said. The post Sub bolsters Taiwan defense vs China appeared first on Daily Tribune......»»
Phl can do without China — Bersamin
Executive Secretary Justice Lucas Bersamin on Thursday said that the Philippines can live without China despite their strong economic ties, adding that the country should avoid being dependent on its Asian neighbor. Nonetheless, Bersamin said in a recent TV interview that Philippine-China relations have many aspects, and that he is not in a position to talk about them because of his closeness with President Ferdinand Marcos Jr. “We are dealing with issues diplomatically. It is still possible for us to go with China, but about the economic viability of our relations or the economic dimensions if we were to go against China. You know, we can’t say that we are dependent on China,” Bersamin said. “China might be our trading partner or supplier, or it gives us some products that we may need, but we should not be too dependent on China. I don’t think China will even want us to be dependent because China knows that we have a multilateral approach,” Bersamin added. Bersamin’s statement comes as the Philippines is facing increasing pressure from China in the South China Sea. China has been militarizing islands and reefs in the disputed waters despite a 2016 ruling by the Permanent Court of Arbitration that invalidated its claims. He maintained that the Philippines has exclusive rights to the fisheries and natural resources in the West Philippine Sea, which China is claiming as part of its nine-dash line territory (recently expanded to 10-dash line) in the South China Sea. “That’s probably why China is acting like that. But beyond that, we do not want to have a conflict with China. We do not want to provoke a conflict with China because we can coexist with China,” Bersamin said. He refused to contrast the Marcos administration with the previous Duterte government, which was seen to be close to China. “I don’t want to compare,” he said. “We leave that to the Presidents to make those decisions, the directions that they take.” Latest data from the Philippine Statistics Authority showed that China has become the Philippines’ primary trade partner. As of May, total exports to the Philippines reached $6.44 billion, with China having 16.6 percent of the trade volume. The post Phl can do without China — Bersamin appeared first on Daily Tribune......»»
PEZA anticipates more Chinese investments in PH
Philippine Economic Zone Authority Director General Tereso O. Panga said more Chinese companies are choosing the Philippines as their next investment destination for their operations, at the completion of the 20th China-ASEAN Expo last 19 September. “With our robust economic performance and aggressive investment strategy, we are bullish in attracting more Chinese investments to the country especially in our ecozones, which can provide the best business ecosystem for our investors,” said Panga. During the Philippine Investment Forum in China, Philippine Ambassador to China Jaime A. FlorCruz highlighted that Chinese investors have expressed positive and increased interest in locating in the Philippines. He reported that the state visit of President Ferdinand R. Marcos Jr. secured over $22 billion in strategic investment commitments. FlorCruz also stated that “In the past 6 months since I took this role as Ambassador, I have met many Chinese executives actively seeking investment opportunities across numerous industries in the Philippines. Many are now poised to invest in the Philippines.” After the forum, two big Chinese companies met with Philippine officials to discuss business opportunities. One company, a leading global provider of smart devices, seeks to expand its presence in the Philippines, especially in the area of consumer electronics. Another company, one of the five largest power generation groups in China, aims to bring in renewable energy projects to the country. PEZA seeks to attract investments from high-tech industries and emerging technologies in industrial manufacturing transport, technology media and telecommunications, health and life sciences, agro-processing, renewable energy development and green ores. To date, a total of 164 Chinese companies/projects are registered at PEZA, generating P25.822 billion investments (as of May 2023) and creating 16,221 direct jobs (as of March 2023). On the sidelines of the CAEXPO, Panga represented the Philippines during the Roundtable Meeting on Investment Cooperation with the theme: “China-ASEAN Cooperation in Green Low-Carbon and Digital Economy”. He noted, “The China-ASEAN Cooperation in Green Low-Carbon and Digital Economy represents a vital step toward sustainable development, environmental conservation and economic growth, not just for the participating nations but for the entire world.” The PEZA Chief also laid out some of the initiatives of PEZA and the national government to contribute to attaining the Sustainable Development Goals. These projects include the integration of SDGs to the Philippine Development Plan (PDP) 2023-2028 and PEZA’s participation in the Global Reporting Initiative. PEZA is strengthening its ecozone development initiatives as part of the medium-term strategies under the PDP 2023-2028. Panga explained that on top of the conventional ecozones, PEZA is venturing into new frontiers in ecozone development to cater to new industries and to promote emerging global eco-industrial park models in the Philippines. “We intend to transform our ecozones and our registered export enterprises to be more sustainable, resilient and innovative and thereby make them competitive in the local and global value chain,” he said. So far, PEZA manages 422 economic zones nationwide which host 4,352 locator companies engaged in various industries including export manufacturing and IT-BPO. Considered as one of the largest expositions in China, the CAEXPO is an international economic and trade event co-sponsored by the central governments of China and the ASEAN countries. It is one of the key projects that form part of the Philippine-China Development Plan and is a major promotional platform that supports the country’s ASEAN-China Free Trade Agreement. PEZA is the lone investment promotion agency partner of the Department of Trade and Industry export promotion arm Center for International Trade Expositions and Missions for the CAEXPO participation. Following this event, PEZA joined the Special Envoy to China for the Philippine Investors’ Roadshow in Beijing, China on 26-30 September 2023. The post PEZA anticipates more Chinese investments in PH appeared first on Daily Tribune......»»
Bersamin: ‘Phl can live without China’
Executive Secretary Justice Lucas Bersamin on Thursday said that the Philippines can live without China and that it should avoid overdependence on its Asian neighbor despite the two countries' strong economic ties. In a recent interview with journalist Ka Tunying, he asked Bersamin whether the Philippines is dependent on China. He responded that the question has many aspects and that he is not in a position to speak about it because he is too close to President Ferdinand Marcos Jr. However, Bersamin did say that the Philippines is dealing with the issue of its relationship with China diplomatically. He also said that it is still possible for the Philippines to go with China but that the country should not be too dependent on its Asian neighbor. "We are dealing with (several) issues diplomatically. It is still possible for us to go with China, but about the economic viability of our relations or the economic dimensions if we were to go against China. You know, we can't say that we are dependent on China," Bersamin said. "China might be our trading partner or supplier, or it gives us some products that we may need, but we should not be too dependent on China. I don't think China will even want us to be dependent because China knows that we have a multilateral approach," Bersamin added. Bersamin's statement comes when the Philippines is facing increasing pressure from China in the South China Sea. China has been militarizing islands and reefs in the disputed waters despite a 2016 ruling by the Permanent Court of Arbitration that invalidated its claims. When asked if he thinks China needs the Philippines more than the Philippines needs China, Bersamin said that the Philippines has exclusive rights to the fisheries and natural resources in that area. "Perhaps China is acting this way because they know that in the eyes of other countries, we are the ones who should be recognized as having the exclusive right to own these fisheries and natural resources in that area," Bersamin said. "That's probably why China is acting like that. But beyond that, we do not want to have a conflict with China. We do not want to provoke a conflict with China because we can coexist with China." Ka Tunying, meanwhile, said that more countries are siding with the Philippines in the West Philippine Sea dispute because the current administration is being more transparent about what China is doing. "The biggest news today regarding China's aggression is that more countries are siding with us because this administration is becoming transparent about what China is doing in the WPS (West Philippine Sea). Did you notice that during the previous administration, they intentionally did not report what China was doing because we didn't want to upset China back then?" Ka Tunying asked Bersamin. Bersamin said that he was not paying much attention to the issue during the previous administration. Still, he said that he wants to avoid comparing the two administrations' foreign policy directions. "I don't want to compare," he said. "We leave that to the Presidents to make those decisions, the directions that they take," he added. Despite the dispute, the Philippines and China have maintained close economic ties. Latest data from the Philippine Statistics Authority showed that China has become the Philippines' primary trade partner, representing a significant portion of the nation's exports and serving as the leading provider of imported products. As of May, exports reached a total of $6.44 billion, with China carrying out 16.6 percent of total exports during the month. Import costs, meanwhile continued to surpass export receipts, hitting $10.84 billion during the month. China was also the country's biggest source of imported goods, supplying 24 percent of the country's total imports. The post Bersamin: ‘Phl can live without China’ appeared first on Daily Tribune......»»
Despite House vow, VP Sara’s confidential funds still ‘intact’
The confidential funds of the Office of the Vice President and the Department of Education totaling P650 million have yet to be transferred to security and intel agencies. Lawmaker Johnny Pimentel of Surigao on Thursday disclosed in an interview that the multi-million CF initially allocated to the OVP and DepEd remains within the purview of Vice President Sara Duterte, who governs the two agencies. Duterte sought P2.395 billion for OVP and P758.6 billion for DepEd in the proposed 2024 budget, including P500 million and P150 million in confidential funds, respectively. "At the moment [the OVP's and DepEd's CF is] not yet [transferred] because of time constraints. The budget was passed last night. The confidential funds allocated in each agency [are] still intact," he said. "However, there will be a small committee of four that will tackle the proposed amendment. It could be done there, or it could be done during the bicameral conference," he said. Pimentel was one of the party leaders in the House who decided to realign Duterte's P650 million to agencies involved in security and intelligence, such as the Philippine Coast Guard, National Intelligence Coordinating Agency, National Security Council, and the Bureau of Fisheries and Aquatic Resources amid China's persistent assertiveness in the West Philippine Sea. The most recent was the installment of a floating barrier in Bajo de Masinloc or Scarborough shoal off the coast of Zambales by the Chinese Coast Guard. The Senate leadership, according to Pimentel, concurs with the House's proposal and has expressed willingness to reallocate such funds to other agencies that most need them. "If you recall, Senate President Migz Zubiri also issued a statement that they will follow suit or follow the direction of the proposal of the lower house to reallocate the confidential intelligence funds," Pimentel said. "So, this will be up for discussions during the bicameral conference meeting or probably during the deliberations in the Senate," he added. The House leadership said it will reallocate Duterte's P650 million confidential funds following a consensus by the chamber's party leaders to augment funds for security and intel agencies to better safeguard Philippine territorial waters and guarantee Filipino fishermen rights and access to their traditional fishing grounds. House committee on appropriations chairperson Elizaldy Co confirmed on Wednesday that the lower chamber agreed to eliminate the confidential and intelligence of several agencies and that the OVP and DepEd were the first to be identified to received the budget cuts. "The country's safety and security are of paramount importance. To protect our territorial integrity from external threats, Congress is giving top priority to agencies directly in charge [of] protecting the country's safety and securing its borders," he stressed. "As discussed, we will realign the confidential funds of various civilian agencies. Now is the time to give our intelligence community the means to perform their duties, especially in these pressing times when we’re facing serious concerns in the West Philippine Sea," Co explained. Marathon deliberations in the proposed P5.768 trillion budget for 2024 have led to intense debates in the House, particularly on the grant of multi-million confidential funds to numerous civilian agencies, including the OVP and DepEd, that have nothing to do with surveillance. Last week's deliberations revealed that Duterte's office spent P125 million in confidential funds in 2022 in merely 11 days— not 19 days-- as initially claimed by some opposition lawmakers. The P125 million CF was part of the P221.42 million contingent fund of the OP transferred to the OVP in 2022, with the opposition claiming it was unconstitutional since there was no line item in the OVP's 2022 budget on confidential funds in the 2022 General Appropriations Act. The post Despite House vow, VP Sara’s confidential funds still ‘intact’ appeared first on Daily Tribune......»»
Philippines, China ink RMB 40 billion worth of projects
A total of 24 projects worth over RMB 40 billion to be undertaken by Chinese and Filipino firms, were signed at a recent China – Philippines trade promotion event, reflecting stronger economic and trade ties......»»