Pacland's Philippine Boxing Forum

tapos mag o organize ng "rescue" sa mga "distressed" OFWs which will lead to suspension of relations between nations.

Q1 foreign investment pledges plunge to lowest level since 2010
Total commitments, of which 92.3 percent came from Filipino firms, jump 52.3 percent to P185 billion
By: Ben O. de Vera - Reporter / @bendeveraINQ
05:49 AM June 08, 2018

Investment commitments from foreign firms fell by more than a third year-on-year to P14.2 billion in the first quarter, the lowest quarterly level since 2010, the Philippine Statistics Authority reported Thursday.

The PSA’s latest report on total approved foreign investments showed that the first-quarter approvals of seven investment promotion agencies (IPAs) slid 37.9 percent from P22.9 billion in the same three-month period last year.

The foreign investments approved from January to March this year were the lowest since the second quarter of 2010 when approved projects amounted to only P13.8 billion.

The PSA data reflected the following IPAs’ approvals: Authority of the Freeport Area of Bataan, Board of Investments, BOI-Autonomous Region in Muslim Mindanao, Cagayan Economic Zone Authority, Clark Development Corp., Philippine Economic Zone Authority and Subic Bay Metropolitan Authority.

IPAs extend fiscal and nonfiscal incentives to investors in government-preferred areas, which the Duterte administration wanted to rationalize under the proposed second tax reform package.

Read more: http://business.inquirer.net/252149/q1- ... z5HuHSfaXC
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

Exports fell by 8.5% in April
By: Ben O. de Vera - Reporter / @bendeveraINQ
Philippine Daily Inquirer / 05:39 AM June 09, 2018

Merchandise exports in April declined at its fastest pace in four months but imports continued to post robust growth, said to be supportive of domestic manufacturing and the country’s ambitious infrastructure program, the government reported yesterday.

Preliminary Philippine Statistics Authority (PSA) data showed that exports dropped 8.5 percent to $5.11 billion in April, reversing the 30.4-percent growth to some $5.59 billion a year ago.

Imports, meanwhile, grew for the ninth consecutive month, jumping 22.2 percent to $8.729 billion, faster than the 4-percent increase to $7.141 billion last year.

The biggest drags to exports in April were the following products: machinery and transport equipment (down 45 percent); gold (down 25.2 percent); ignition wiring set and other wiring sets used in vehicles, aircraft and ships (down 24.4 percent), and coconut oil (down 23.9 percent). Electronics equipment and parts exports were also down 1 percent.

The top sources of imported products were China, South Korea, Japan, the US and Thailand.

The balance of trade in goods remained at a deficit of $3.615 billion, more than double the $1.554 billion in the same month last year.


Read more: http://business.inquirer.net/252191/exp ... z5HuI1GKfg
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

Fears of sugar shortage persist as price shoots up
By: Karl R. Ocampo - @inquirerdotnet
Philippine Daily Inquirer / 05:33 AM June 09, 2018

The average mill-gate price of sugar has breached the P2,000-mark for the first time since 2016, as speculations of supply shortage in the local market continue to drive prices upward.

Since the beginning of June, price of raw sugar increased by 42 percent to P2,070 per 50-kilogram bag (LKg) from the standard rate of P1,450 per LKg.

Earlier this week, the confectionery industry has requested the government to allow industry players to import sugar, noting local sugar has become 200 percent more expensive than sourcing overseas.

Aside from mill-gate prices, retail prices of sugar has also risen by 2.1 percent to P48.23 a kilo from P47.22 a kilo at the start of the year.

Sugar producers already raised the alarm when sugar prices hit P1,700 per LKg earlier this year. They said high prices would lead manufacturers and processors to shift to cheaper sweetener alternatives to the detriment of the industry.

Read more: http://business.inquirer.net/252181/fea ... z5HuJgvpWU
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

left and right, things getting out of control...

This is what happen when you let the government control agriculture!
Everything the government touches it destroy.

Transportation, health care, agriculture...

Leave it to private enterprise, let them produce, since they are profit driven, and risk reward bussiness mentality.
If the suceed they earn reward, if fail they lost everything.
So outcome will be more efficient.

Time to ease agriculture regulations, including the CARP.

Farmers: Duterte can’t even stop rice smuggling in Davao
By: Ronnel W. Domingo - @inquirerdotnet
Philippine Daily Inquirer / 12:45 AM April 20, 2016


GETTING rid of crime within six months is but another impotent threat from presidential candidate Rodrigo Duterte, who cannot even stop smuggling in Davao City, according to a group of farm advocates.

The Samahang Industriya ng Agrikultura (Sinag) on Tuesday said they don’t expect Duterte to make good on his promises, especially on solving crimes like smuggling since the mayor’s chief political strategist Lito Banayo is himself implicated in the illegal traffic of rice.

“And to think that rice smuggling is supposedly one of Duterte’s pet peeves,” Sinag president Rosendo So said in an interview.

“According to the Senate inquiry, a big-time rice cartel was able to operate in the country under Banayo’s nose by using farmers’ cooperatives as willing dummies to bankroll its rice smuggling operations,” the Sinag president said.

“This of course begs the question, why did ‘The Punisher’ tap Banayo—much less have a hand in running his campaign—if he’s serious about eliminating all criminals in a three-to-six month window?” he added.

So said the tough-talking Duterte also made a threat against alleged rice smuggling bigwig Davidson Bangayan, alias David Tan, if ever he sets foot in Davao City.

“Incidentally, Bangayan was the center of the Senate probe that also involved Banayo,” he said, adding that Sinag informants tell of Bangayan becoming a frequent visitor to Davao City lately.

“This is contrary to Duterte’s earlier warning to Bangayan not to dare enter the city,” said So. “Duterte even said that he would have no problem killing Bangayan if he ever sets foot on his beloved Davao.”

Read more: http://newsinfo.inquirer.net/780422/far ... z5HwdpUY4T
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook

‘Norwegia’ forever? Palace blames ‘typo’
By: Julie M. Aurelio - @inquirerdotnet
Philippine Daily Inquirer / 07:00 AM June 16, 2018


PCOO Assistant Secretary Lorraine Marie Badoy. INQUIRER.net / CATHY MIRANDA

The mysterious country was last spotted on Wednesday on the Facebook page of the Presidential Communications Operations Office (PCOO), where a post showed President Rodrigo Duterte conferring the Order of Sikatuna to outgoing Norwegian Ambassador Erik Forner for his service as the “representative of Norwegia.”

Netizens were quick to call out the latest PCOO boo-boo with memes that poked fun at the nonexistent country of “Norwegia.”

The post was eventually corrected, but Communications Secretary Martin Andanar had yet to issue a comment on the issue.

PCOO Assistant Secretary for New Media Lorraine Badoy defended the flub as a mere “typo” and challenged a netizen’s comment on the agency’s huge budget.

In 2018, the PCOO received a budget of P1.38 billion, which was 4.6 percent higher than its 2017 budget of P1.32 billion.

Other critics created memes that referred to Norwegia as within spitting distance of Wakanda, the fictional African nation of Marvel Comics superhero Black Panther from the movie of the same title.

“It’s the sister country of Genovia,” one netizen pointed out, referring to the kingdom in the 2001 movie “The Princess Diaries.”

Former Solicitor General Florin Hilbay, however, chose a more serious take on the issue. “‘Norwegia’ is this administration’s best attempt at distracting Filipinos from its failure to protect Filipino fisherfolk at Scarborough Shoal. It’s like: we’d rather be seen as shamelessly incompetent rather than uncaring. Truth is, they’re both,” he said on his Twitter account, @fthilbay.

But Norwegia exists, protested Jethol Coral Paanod on social media. Wikipedia’s Polish and Bahasa Indonesia entry on Norway spells the country’s name as Norwegia, he explained, to which other netizens retorted: “Then the PCOO post should have been in Polish or Bahasa Indonesia for it to be correct!”

“Where is Norwegia? Right beside Mayon Volcano, of course—in Naga!” one netizen said, referring to PCOO Assistant Secretary Mocha Uson’s post that relocated the volcano from Legazpi City in Albay to Naga.

Still another mocked Malacañang and referenced it as the venue for the grand debut of President Duterte’s granddaughter last year. Using a logo that says “Malacañang Events and Catering Services,” the netizen invited readers to “join the (celebration) of a new milestone in Philippine-Norwegian relations with a trip to Norwegia.”

The factual lapse was the latest in a series of flubs and errors committed by the PCOO, for which Andanar had issued a mix of apology and justification in a radio interview in September 2016.

Read more: http://newsinfo.inquirer.net/1001299/no ... z5IaeMWHT0
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook