Philippine Pesos Slides Again...

By Lilian Karunungan 

 

The Philippine peso weakened to a nine-month low on concern the Federal Reserve will scale back its monetary stimulus, reducing the flow of funds to emerging markets. Government bonds fell for a third day.

The Dollar Index advanced for a second day after U.S. data yesterday showed consumer confidence climbed to the highest level in more than five years and home prices increased by the most in seven years. Foreign funds sold $85 million more Philippine equities than they bought in the last three days, exchange data show. The Philippine Stock Exchange Composite Index fell 3.8 percent since reaching a record high on May 15. It was 0.2 percent higher today.

“People are expecting a tapering of quantitative easing in the U.S.,” said Joey Cuyegkeng, an economist in Manila at ING Groep NV. “The relatively richer valuation in the stock market has also prompted some offshore profit-taking from the Philippines.”

The peso declined 0.9 percent to 42.335 per dollar as of 10:05 a.m. in Manila, the lowest level since Aug. 30, according to prices from Tullett Prebon Plc. The currency dropped 2.7 percent this month, taking this year’s loss to 3.1 percent. 

The Dollar Index, which Intercontinental Exchange Inc. uses to track the green back against currencies of six major U.S. trading partners, added 0.17 percent to 84.244. The Fed purchases $85 billion of bonds monthly.

The yield on the government’s 8 percent bonds due July 2031 rose 15 basis points to 4.15 percent, according to prices from Tradition Financial Services.

Good of you? Good for us? Good for whom?

Professional Ethics

Re-published Editorial in MINDANAO DAILY MIRROR with friendly permission of the Publisher Marietta Siongco - May 25, 2013

As early as 7 a.m. last Wednesday, several Davao City journalists trooped to the burning Department of Psychiatry of the Southern Philippines Medical Center (SPMC), also referred as the Mental Hospital in Davao City, for coverage. It was certainly a newsworthy incident, not least because the facility is 95 years old and is the only public mental hospital in Mindanao. However, it also turned out to be a most unfortunate for two photo journalists and a television cameraman who were blatantly harassed by hospital personnel as they were performing their jobs.

The hospital men, including a nurse, doctor, clinical Lebbe, and a security guard heaped verbal and physical assault on the three journalists yelling at them, grabbing their cameras and holding their arms as they ordered them to forcibly delete all the photos and videos they took.

Aside from undermining the right of freedom of expression and editorial independence of the journalists, the hospital men deliberately deprived the journalists  of respect as persons of self-esteem and pride.

...

The basic value of respect was obviously not of importance for the ill-mannered hospital men as as well as Chief Dr. Leopoldo Vega quickly apologizing for his men's behavior. Journalism is regulated solely by the criteria of professional ethics, a basic journalism, a basic journalism principle that makes the journalists undeserving of such harassment. Those who elbow their way into the journalists' rights should be slapped with appropriate administrative and legal and sanctions.

Malu Barry Live in Concert in Davao City

Retirement In The Philippines: Top 20 Best Places To Live

Interesting post. Take a look...

Retirement In The Philippines: Top 20 Best Places To Live

Travel Fun in The Philippines - a little bit different

Travel Fun with Solenn and Isabelle.

This week on Taste Buddies, know what it takes to travel in style with IT girls Solenn Heussaff and Isabelle Daza share informative tips to make adventure fun and convenient. The girls unpack their bags to reveal every girl's travel must-have as they also teach us to review our travel rights plus try something new and exciting at the island rose farm. And finally, the girls don chambermaid outfits as they learn the basics of hotel housekeeping. These and more in the next Saturdate with the IT girls on Taste Buddies TODAY at 5.40 p.m. on GMA News TV. ENJOY!

Emigration Clearance Certifications

Republic of the Philippines

Department of Justice

BUREAU OF IMMIGRATION

Magallanes Drive, Intramuros

1002 Manila

MEMORANDUM FROM THE COMMISSIONER

To: ALL ALIEN CONTROL OFFICERS (ACOs)

Subject: PROCESSING OF EMIGRATION CLEARANCE CERTIFICATES (ECCs) IN SUB-PORT OFFICES

Date: 15 MAY 2013

Pending the completion of items 4 and 5 of Memorandum dated 26. April 2013 re" MEASURES AGAINST FAKE EMIGRATION CLEARANCE CERTIFICATIONNS (ECCs), the same is hereby SUSPENDED in terms of the exlusive processing of ECCS at the BI Main Office. Thus, sub-port offices previously processing ECCs are hereby authorized to resume accepting and processing ECCs applications in their respective areas of jurisdiction.

All processed ECCs by your office shall be submitted to the BI National Operation Center the following working day reckoning from the date of issuance of said Certicates.

For guidance and strict compliance.

Sgd. Ricardo A. David, Jr.
Immigration Commissioner

Voting Closes in The Philippines

 

Filipinos have voted to choose thousands of local leaders and national legislators in what was seen as a referendum on the presidency of reformist Benigno Aquino. More than 52 million people were eligible to vote in Monday's elections. Results are expected on Tuesday and Wednesday.Police and military were on heightened alert for poll-related violence that has claimed dozens of lives since campaigning began in February. More than 18,000 positions were at stake, ranging from town and city mayors to provincial governors and members of the legislature in an exercise traditionally dominated by political dynasties . Aquino won the presidency by a landslide in 2010 on a promise to crush corruption which he blames for widespread poverty in the nation of 100 million. He consistently scored high popularity ratings for nursing the Philippines back to fiscal health and prosecuting erring officials, including predecessor Gloria Arroyo, now in detention while being tried for alleged massive corruption. Aquino is also close to signing a final peace deal with the main Muslim rebel group, the Moro Islamic Liberation Front (MILF), potentially ending a rebellion in the south that has killed more than 150,000 since the 1970s. The aim is to get both houses of parliament - the Senate and the House of Representatives - to pass a law creating a new autonomous region to be governed by the MILF in the south. All the seats in the lower house and half in the Senate are being contested in Monday's elections. Violence  Reports said one army member was killed on Monday and one injured in the island of Negros following an encounter between the military and communist rebels, according to military spokesman Franciso Patrimonio. Two more people were reported dead and seven injured in an ambush in Sulu Province in Southern Philippines, according to a local TV station ABS-CBN. An improvised explosive device was found in the district of Sharif Aguak, in the province of Maguindanao, where a campaign-related massacre took place in 2009 and 34 journalists died. Al Jazeera’s Marga Ortigas, reporting from Manila, said that more than 30 people have been reported killed in the run-up to the elections. “But security forces are pointing out that this is a much smaller number than they have seen in previous elections,” she said. “In fact, the reported incidents of violence in the run-up to these particular elections compared to the previous ones have been a sign, some say, that the reforms Aquino has been instituting during his three years in power are so far working.” In 2009, 58 people, including 32 journalists, were massacred in the country's worst political violence that was blamed on rivalry between two powerful clans in southern Maguindanao province. Voting concerns Sixto Brillantes, head of the Philippines' election agency, reported that at least 200 polling stations reported malfunctioning ballot counting machines. He also said that voting was cancelled in one precinct in the northern Philippine city of Baguio, and one in Compostela Valley in southern Philippines, after election workers failed to deliver the ballots. He said that special voting, at a later date, would only be ordered if "it will adversely affect the final result". An election watchdog also reported power outages in some areas. Other problems, including politicians who jostle for power by bribing, intimidating or launching attacks against opponents, are expected to have marred the vote. Ana Maria Tabunda from the independent pollster Pulse Asia said such dynasties restrict democracy, but added that past surveys by her organisation had shown that most Filipinos were less concerned about the issue than with the benefits and patronage they could receive from particular candidates. Voters often pick candidates with the most familiar surnames instead of those with the best records, she said. "It's name recall, like a brand. They go by that," she said. Vote-buying has also been a problem. The Commission on Elections ordered a ban on bank withdrawals of more than 100,000 pesos ($2,440) and the transportation of more than 500,000 pesos ($12,200) from Wednesday through to Monday to curb vote-buying, but the Supreme Court stopped the move.

Tour Guides Recount Escape from Volcano

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By CRIS LARANO and JOSEPHINE CUNETA

Rescuers on Thursday carry down the remains of one of the climbers.

Five European tourists and their three Filipino guides were a few hundred yards from the crater of Mount Mayon in the Philippines when they decided to turn back because thick fog had made it difficult to keep climbing. But their decision didn't come soon enough.

Mount Mayon, one of the most active volcanoes in the Philippines, spewed hot ash and rocks on Tuesday, killing four climbers—three Germans and one Spaniard—and one of the tour guides.

Eighteen-year-old Nicanor Mabao was one of the three who survived what scientists call a phreatic, or steam-driven, explosion. He told The Wall Street Journal that the blast happened quickly and without warning.

Mayon volcano, one of the Philippines' most active volcanoes, spewed huge rocks and ash after daybreak Tuesday.

"I heard a loud explosion, louder than thunder," said Mr. Mabao as he prepared to leave the Bicol Regional Training and Teaching Hospital, where he and fellow guide Kenneth Jesalva were treated for burns and other injuries.

Mr. Mabao was 16 when he started guiding tourists up Mount Mayon and is a member of the Panaway Mountaineer Group, which usually climbs the 2,440-metervolcano three to four times a week.

Mr. Jesalva, 21 years old, who sustained a broken shoulder due to falling rocks, also recalled a loud explosion.

"It sounded like thunder. It was very loud. Then, I heard the noise of cascading rocks. But we couldn't see the rocks, the thick fog blinded us from seeing the falling debris," Mr. Jesalva said.

Then the rocks started landing on them.

"We were moving very slowly due to the thick fog. Burning rocks as big as our backpacks hit us. Because of my small frame, I was able to hide from the rocks but was still hit on my back and left foot," he said.

Despite being pelted by hot rocks, Mr. Mabao said he remembers looking after Sabine Strohberger, who nearly fell after stepping on a loose rock. He grabbed her backpack and lifted her to safety. Ms. Strohberger, an Austrian, was the only climber in the group to survive.

The shock of the deadly episode will change their lives forever, the guides said.

"I curse Mayon. I won't set foot on it again," said Mr. Jesalva, who is working part-time as a tour guide to support his studies. He is in the third year of a criminology course and wants to become a law-enforcement officer. He said he would still climb mountains, but not Mount Mayon.

Mr. Mabao vowed not to climb again.

Meanwhile, Philippine Army Lt. Col. Raul Farnacio said the bodies of the five who died have been retrieved and are awaiting autopsy.

Another Thai survivor stuck on the "critical side" of the volcano awaits rescue, he said, because the steep slope and high elevation prevents a helicopter landing.

Twenty-seven people, including tour guides, were hiking up to the summit when the explosion occurred, according to Gov. Joey Salceda of the Philippine province of Albay.

Write to Cris Larano at cris.larano@dowjones.com and Josephine Cuneta at josephine cuneta@wsj.com

Rare Animals Threatened by Poisons Chemicals

 

A team of wildlife researches from the Philippine WEagle Foundation Inc. (PEF) has found that the remnant of lowland dipterocarp forests in the Talomo-Lipadas and Panigan-Tamugan Watersheds, the current source of Davao's drinking water, is the habitat of some 28 species that can be only found in the Philippines.

"We were able to document 171 vertebrate species, 28 of which are endemic to the Philippines," said lead researcher Director Jayson Ybanez, who presented the study at the Ateneo de Davao University.

Unsustainable agriculture, illegal logging and population pressure continue to threaten these fragile habitats and may force 28 of them into extinction. 

Ybanez said: "One of the threats that we found out is that banana plantations and farms are slowly encroaching towards the forest, even in areas which are considered environmentally critical areas as defined in the Watershed Code!"

Adaptive management would be a good scheme, wherein interventions are considered experiments where you refine your way of doing conservation and through that, all of your partners learn through doing. Very well said, Sir Ybanez... .

Andrea Torres - Newest Kapuso Leading Lady

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GMA-7 is continuously developing new leading ladies. After Bianca King, Kylie Padilla and Jackie Rice, a new set of Kapuso female artists are being launched as the next important stars of the network. One of them is a girl named Andrea Torres, the new Cecilia Fulgencio in the afternoon series 'Sana Ay Ikaw Na Nga' with Mikael Daez as Carlos Miguel Altamonte.
Wait, but who is this girl named Andrea Torres? Is she new in the business?
Andrea Elizabeth Torres was born on the 4th of May, 1990. She first started her career in showbusiness as a print ad model. During her early teens, she became one of the female contestants in the reality-based loveteam search of ABS-CBN called 'QPids'. That time, she was paired with Dominic Roco. It's fun to think that they're both with GMA-7 now.
She moved to Kapuso network and appeared in the teen show Ka-Blog as one of its main hosts. While hosting the show, she is also busy with college. She took up Communication Arts in the University of Sto. Tomas.
Just in mid 2011, she appeared in the afternoon series 'Blusang Itim'. It seems like her stint in the primetime show 'My Beloved' with Dingdong Dantes and Marian Rivera became her stepping stone to be noticed by the network.
Some of her movie credits include Loving You, Shake Rattle and Roll 9 and 10 and You To Me Are Everything.