by anyajulia | Oct 27, 2009 | Foreign Exchange, Headlines, Major Events
The US arrest of a 64-year-old American citizen for allegedly coming to the Philippines in 2007 and 2008 to engage in illicit sex with two Filipino girls is a breakthrough in protection of Filipinos and fighting human trafficking.
The arrest was made through the excellent international cooperation between Philippine and US law enforcement agencies.
Reports say that the suspect has been identified as Donald Mathias, a native of Florida. He is facing charges of child abuse. The charges contained in the complaint carry a maximum penalty of 30 years in prison and a fine of up to $250,000. (PIA)
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by anyajulia | Oct 22, 2009 | Foreign Exchange, Headlines
President Gloria Macapagal-Arroyo is to attend the 15th Association of South East Asian Nations (ASEAN) Summit and Related Summits in Thailand on Oct. 23 – 25, 2009.
ASEAN will announce the establishment of an ASEAN Intergovernmental Commission on Human Rights (AICHR). The ten countries that make up AICHR will appoint a commissioner each to serve for three years. Other issues on the agenda include the recommendation to establish a free trade agreement between South East Asia and East Asia.
The ASEAN member countries include Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The ASEAN leaders will likewise meet with the six dialogue partners: China, India, Japan, Australia, New Zealand, and the Republic of Korea. (PIA-MMIO)
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by anyajulia | Oct 22, 2009 | Foreign Exchange, Headlines, National News
The Department of Finance (DOF) backs bid to extend travel tax exemption to all passengers traveling in the Brunei Darussalam-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA).
In a memorandum to the Office of the President issued last month, Finance Secretary Gary Teves said that the Philippine government may extend the privilege of travel exemption to passengers departing from Mindanao and Palawan to any destination within the BIMP-EAGA for another three years, ending until September 2012.
The memorandum also cited that the said measure would be beneficial to the “growth area concept” which promotes cooperation among the BIMP countries and for the promotion of tourism and investment in the sub-region.
The proposal for extension was prepared and submitted by the Mindanao Economic Development Council (MEDCo).
DOF submitted the recommendation to the Office of the President who will give the final approval for the said measure through a Memorandum Order (MO). The Philippine Tourism Authority (PTA) has earlier submitted their letter of concurrence last year. (MEDCo)
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by anyajulia | Oct 7, 2009 | Foreign Exchange, Headlines, National News
The Development Bank of the Philippines (DBP) is partnering with the United States Agency for International Development for clean energy investments through a memorandum of understanding signed last October 1, 2009. Dubbed the “ECO-Asia Clean Development and Climate Program (ECO-Asia)”, its aim is to bridge the gap between investments and clean energy business by building partnerships in several of Asia’s fastest-growing economies.
The partnership will help stimulate more clean energy investments in the country, particularly in the Visayas and Mindanao regions, which hold the highest potential for clean energy projects due to abundant natural resources and a progressive agricultural industry. (DBP)
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by anyajulia | Sep 24, 2009 | Foreign Exchange, Headlines
SOUTH Korea needs some 20,000 Filipinos to work at the newly established Integrated Free Export Zone (IFEZ) Inchon, South Korea, says presidential economic adviser Joey Salceda.
Salceda, who is also Albay Governor said the government is now finalizing a memorandum of agreement with the Ifez to formalize the hiring of workers from the Philippines.
Salceda was recently installed as economic adviser of the South Korea Incheon Metropolitan Authority, which is implementing the US$178-billion Ifez project.
Incheon is a highly industrial metropolitan area in South Korea and the export zone is the biggest integrated development project at 35 times the annual infrastructure budget of the Philippines, reports said. (PIA)
by anyajulia | Sep 24, 2009 | Foreign Exchange, Headlines
President Gloria Macapagal-Arroyo arrived in Jeddah, September 21 (Monday) at 8 p.m.(Manila time) at the King Abdulazziz International Airport for a three-day official visit.
The President is expected to take up the welfare of the more than one million overseas Filipino workers (OFWs) in Saudi Arabia and make a pitch for the Philippines as an attractive investment haven.
She will also discuss economic development and the possibility of ending the conflict in Mindanao with Saudi Arabia leaders.
During her visit, the President will meet with leading business investors and also spend some time with members of the Filipino community whose remittances help keep the country afloat in the midst of the global financial crisis.
Saudi Arabia hosts 1.016 million OFWs and their dependents. Of this number, 736,820 are in Riyadh and 280,000 are in Jeddah. (PIA-MMIO)
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