BusinessMirror March 12, 2016

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OREIGN direct investments (FDI) in 2015, the kind that stays for the long haul and are actually invested in so-called bricks-andmortar businesses in the Philippines, proved virtually unchanged from that achieved the year before, the number having stood marginally lower to only $5.724 billion, according to the Bangko Sentral ng Pilipinas (BSP).

GERMANY: FILES LISTING I.S. FIGHTERS ARE ‘AUTHENTIC’ The World BusinessMirror

This compared with FDI totaling $5.74 billion in 2014, a number that must have disappointed the economic managers who previously anticipated long-gestation investments totaling at

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Germany: Files listing IS fighters are ‘authentic’

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ERLIN—Thousands of files have surfaced with personal data on members of the Islamic State (IS) group— documents that might help authorities track down and prosecute foreign fighters who returned home after joining the extremists, or identify those who recruited them in the first place.

Germany’s federal criminal police said on Thursday they are in possession of the files and believe they are authentic. The announcement came after Britain’s Sky News reported it had obtained 22,000 IS files that detail the real names of fighters for the group, where they were from, their telephone numbers and even names of those who sponsored and recruited them. In a joint report, Germany’s Sueddeutsche Zeitung newspaper in Munich and broadcasters WDR and NDR reported independently on Monday they had obtained “many dozens” of pages of such documents itself. “This is a huge database—there are more than something like 22,000 names, so this is very, very important,” said Dalia Ghanem-Yazbeck, a research analyst at the Carnegie Middle East Center. She said the files would “definitely” help international security services, including those in Arab countries, to confirm the identities of those who have already left to fight for IS, to discover the identities of new fighters, and to help them in identifying those who return home from Syria and Iraq. Sky said the files, obtained at the border between Turkey and Syria, were passed to them on a memory stick stolen from the head of the IS’s internal security police by a former fighter who had grown disillusioned with the group. Sueddeutsche Zeitung and the German broadcasters reported they also had obtained the files on the TurkeySyria border, where they said IS files and videos were widely available from anti-IS Kurdish fighters and members of IS itself. The documents highlight the bureaucratic work of the highly secretive extremist group that has spread fear through its brutal killings and deadly attacks in its self-declared caliphate of Syria and Iraq, as well as in places like France, Turkey, Lebanon, Yemen and Libya. The information could help the US-led coalition that is fighting the IS group by aiding in a crackdown on the extremists’ foreign-

fighter networks, said US Army Col. Steve Warren, a spokesman for the coalition. He said that while he was not able to verify the documents, he hoped that “if there is a media outlet that has these names and numbers, I hope they publish them.” That would help bring attention to the problem of foreign fighters joining IS and also would help authorities to crack down on the problem, he said. “This would allow the law-enforcement apparatus across the world to become much more engaged and begin to help do what we can to stem this flow of foreign fighters— so we’re hopeful that its accurate and if so we certainly plan to do everything we can to help,” he said. Both Sky and Sueddeutsche Zeitung reported the documents were forms with 23 questions to be filled out by recruits when they were inducted into the IS. Sky said they included nationals from at least 51 countries, including the US and Britain. Zaman al-Wasl English, a Syrian news site critical of extremist fighters and the government, also obtained the documents from a source in the border area, said its editor, Mohamed Hamdan. However, the site only had only 1,736 names and Hamdan couldn’t explain the discrepancy. “The document gives the jihadists who want to join Daesh [IS] the choice of profession, what does he want to be: a suicide bomber, a martyr, a fighter, or an administrative worker. And many of the people who join the [IS] as administrative workers have degrees in engineering, computers and many strong majors,” Hamdan told The Associated Press (AP) in Tunis. The documents it posted had the word “secret” at the bottom, while on the top it had the name “Islamic State in Iraq and the Levant,” or ISIL, on one top corner and the “General Directorate of Borders” on the other. Hamdan said they were the same as those obtained by Sky. The web site’s documents stated the fighters entered areas under IS control in 2013, except for a Turk-

DEMONSTRATORS chant pro-al-Qaeda-inspired Islamic State of Iraq and the Levant as they carry al-Qaeda flags in front of the provincial government headquarters in Mosul, 360 kilometers northwest of Baghdad, Iraq, in 2014. AP

ish citizen born in 1989 who entered on May 12, 2014. It also says which border point the fighter crossed, who from his family IS should contact, his personal belongings, blood type and marital status. It posted 122 documents of fighters from around the world who said they wanted to carry out suicide attacks. As of last month, the US estimates IS had 19,000 to 25,000 fighters in Iraq and Syria, down from an estimated 20,000 to 31,500 fighters—a number that was based on intelligence reports from May to August 2014. The decrease reflects the combined effects of battlefield deaths, desertions, internal disciplinary action, recruiting shortfalls and difficulties that foreign fighters face traveling to Syria, according to a US official, who spoke on condition of anonymity because the official was not authorized to discuss the estimates with the media. The documents appear to have been collected near the end of 2013, Sky News reported. At that time, the IS was “at a pretty early stage of its state-building capacity,” GhanemYazbeck said. “I wouldn’t say that this is the most dangerous leak, but it is very interesting to see what does it mean exactly for IS,” she said at her office

UN experts: IS expanding in Libya

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NITED NATIONS—The political and security vacuum in Libya is being exploited by the Islamic State (IS) extremist group, which has “significantly expanded” the territory it controls in the conflicttorn north African nation, UN experts said in a report circulated on Thursday. The experts monitoring UN sanctions against Libya said the militant group has successfully recruited marginalized communities in the central city of Sirte, which it controls. It has also increased its operational capacity in the city of Sabratha and the capital Tripoli through local recruitment reinforced by foreign fighters, the experts said. “While ISIL [Islamic State in Syria and the Levant] does not currently generate direct revenue from the exploitation of oil in Libya, its attacks against oil installations seriously compromise the country’s economic stability,” the six-member panel said in the report. “Libyans have increasingly fallen victim to the terrorist group’s brutalities, culminating in several mass killings.”

Libya has effectively been a failed state since the 2011 ouster and death of longtime dictator Muammar Qaddafi, which led to the country’s military collapse and fragmentation by powerful militias. Since 2014, an internationally recognized government has convened in the far east of the vast, oil-rich country while a rival Islamist government is based in Tripoli. The United Nations has been trying to help forge a unity government to revive services to millions of people and confront IS extremists. According to the experts, Libya has become increasingly attractive to foreign fighters and their presence in the south “is symptomatic of the regional dimension of the conflict.” They added that countries in the region have been providing political support—and possibly more—to various groups, further fueling the continuation of fighting. The experts said in the report to the UN Security Council that all parties in the conflict are continuing to receive illicit arms transfers, some with support from UN member countries.

These weapons are not only influencing the instability but are having “a negative impact on the security situation in Libya and its political transition,” the report said. The experts called for the arms embargo—which allows the government to seek exemptions—to remain in place and be enforced. As for the financing of Libyan armed groups, the report said, “government salaries are continuing to be paid to enlisted combatants, regardless of their human-rights record or their ties with spoilers or terrorist groups.” The experts said armed groups and criminal networks in Libya have further diversified their sources of financing, including through kidnapping and smuggling migrants, oil products, subsidized goods and profits from foreign currency exchange schemes. As for other sanctions, the report said asset freezes and travel bans on individuals from the Qaddafi regime continue to be broken, with large amounts of assets remaining hidden and unfrozen and travel bans repeatedly violated. AP

22,000 Number of files obtained that detail personal information of IS fighters

in Beirut. “It shows that the organization is not that...hermetically sealed.” Haras Rafiq, managing director of the London-based Quilliam Foundation, an anti-extremist thinktank, noted that the data was from 2013, and, thus, might not be “that important.” But he added: “Clearly, there is a fracture in the organization, people are disillusioned, the price of oil is dropping—and that is having an effect on their operations and paying people.” Markus Koths, a spokesman for Germany’s Federal Criminal Police Office, the Bundeskriminalamt, told the AP that the agency had IS documents, such as those obtained by the Sueddeutsche Zeitung. He would not comment on specifics about either media report amid an ongoing investigation, and he also would not say how German intelligence obtained the documents, or how long they have been in its

possession, “for tactical reasons.” He did say, however: “We believe there is a high probability that these documents are genuine.” “These documents are of significance for us for prosecutorial reasons and for threat prevention,” he said. Koths would not say whether other intelligence agencies had the same files, and the Central Intelligence Agency declined to comment on the authenticity of the documents or whether US officials have seen them. The ISIL was the official name of the group before its leader, Abu Bakr al-Baghdadi, declared the IS caliphate in June 2014 after the group captured wide areas of Iraq, including the second-largest city of Mosul. The extremist group was formed in 2013 during the brief merger of al-Qaeda’s branches in Iraq and Syria, known as the IS in Iraq, and the Nusra Front. After they split in early 2013, those under al-Baghdadi’s command kept using the name ISIL until the caliphate was declared and they started using just the IS name. The date of the documents suggested they may not provide information on the group’s current membership, but could offer insight into fighters recruited in 2013, as well as its bureaucratic systems. Mathieu Guidere, a French analyst who has written a book about

the IS, cautioned against taking the documents at face value. Guidere worked on deconstructing records obtained from al-Qaeda in Iraq in 2007 and said about 80 percent of the information in them turned out to be a plant. Among the more than 400 French names on the Syrian list, he said some were real and some appeared to be false—a pattern he said likely was true for the rest of the documents. He speculated that it could be an attempt by the Syrian administration to engage Western intelligence agencies. “These are files that are part-real, part-fabrication,” Guidere said. “I think the Syrians want to negotiate an information exchange.” Speaking to reporters in Brussels, German Interior Minister Thomas de Maiziere said the documents in Germany’s possession “are most likely authentic” and “show the thoroughness of this criminal organization.” He said authorities can use the documents to build better cases against people who had gone to fight with IS and then returned home. “If it’s now clear that they were there...then it is an important supplement to the chain of evidence that leads to a tougher and more precise verdict, then they are very useful documents,” he said. AP

Brazil prosecutors explain charges vs ex-president Lula

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ÃO PAULO—São Paulo state prosecutors said on Thursday they filed money-laundering and criminal misrepresentation charges against former President Luiz Inacio Lula da Silva because of evidence he and his family unduly benefited from a real-estate scheme that adversely affected thousands of Brazilian families. Lead prosecutor Cassio Conserino said the former president and his family were swept up in a yearslong investigation into wrongdoing at a failed cooperative in São Paulo that sold apartments at cost. The case against Silva hinges around a triplex in one of the residential towers built by the cooperative, which prosecutors allege was destined for the former leader and his family. “While thousands of families lost their apartments and saw their dreams of becoming homeowners shattered, one of those investigated received a triplex,” Conserino said at a news conference. Silva has denied any wrongdoing and said he is not the owner of the apartment in the coastal city of Guaruja. In a statement on Wednesday, his not-

for-profit Instituto Lula suggested Conserino is biased against the former president. Conserino and the other prosecutors at Thursday’s news conference insisted they are neutral and just following the letter of the law. “The investigation is sustained with procedural and documental evidence,” Coserino said. The state public prosecutors’ office brought the charges against Silva, as well as money-laundering charges against his wife and one of his sons, late Wednesday. For Silva himself, conviction on the two charges could carry a maximum sentence of 13 years in prison. The judge in the case must now decide whether to accept the charges and move forward with the case. Conserino said he had no idea when that might happen, suggesting that due to the sheer volume of the case it might take some time. Conserino declined to respond to repeated questions of whether prosecutors had asked that Silva be provisionally detained. But Finance Minister Nelson Barbosa told reporters the Sao Paulo prosecutors had indeed made such a request, which would also have to be signed off on by the judge in the case.

“This request is totally baseless,” Barbosa told reporters gathered at a São Paulo hotel where the Insituto Lula was holding a debate about the economy. Barbosa added that “this polarization is doing much harm to the Brazilian economy.” In a separate statement on Thursday, the Insituto Lula dismissed the request as “another sad attempt” by Conserino to “use his job for political ends.” The São Paulo case is only part of Silva’s legal woes. Last Friday federal investigators said they were looking into whether renovations at the Guaruja beachfront apartment and another project at a country house used by Silva and his family constituted favors in exchange for political benefit. Both places have undergone major renovations paid for by construction companies that for decades have had contracts with the federal government. Those enterprises are also at the center of the scandal gripping the state energy company, Petrobras, in which prosecutors allege $2 billion was paid in bribes to obtain contracts with the company. AP

WORLD

B24

RETESTS UNDER WAY Sports A8

| SATURDAY, MARCH 12, 2016 mirror_sports@yahoo.com.ph|sports@businessmirror.com.ph Editor: Jun Lomibao |Asst. Editor: Joel Orellana

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NDIAN WELLS, California—Teenagers Frances Tiafoe and Brona Coric grabbed the center-court spotlight when the men joined the women for first-round play on Thursday in the BNP Paribas Open at the Indian Wells Tennis Garden. Tiafoe outlasted Taylor Fritz, 3-6, 6-2, 3-6, in a battle of 18-year-old Americans, and Coric, a 19-year-old Croatian, beat Lucas Pouille of France, 6-2, 7-5. Those two matches helped kick off a formful opening day for the men, with Nicolas Mahut of France, Leonardo Mayer of Argentina and Robin Haase of the Netherlands also advancing. Mahut beat qualifier Renzo Olivo of Argentina, 6-2, 6-4; Mayer ousted Sam Groth of Australia, 6-4, 6-3; and Haase toppled Diego Schwartzman of Argentina, 6-3, 6-4. Daniela Hantuchova, a two-time tournament champion, lost to Daria Kasatkina of Russia, 6-2, 6-4, as the women completed their first round. It was the

ANDY MURRAY says he is careful to read everything that is relevant to him. AP

second straight first-round loss for Hantuchova, who won her titles in 2002 and 2007. The women will begin second-round play on Friday with Venus Williams scheduled to play her first match at the tournament in 15 years in the afternoon and top-ranked Serena Williams on the schedule for the night session. AP ITALY’S Camila Giorgi reaches to return to Germany’s Julia Goerges during their match at the BNP Paribas Open on Thursday. AP

‘BE CAREFUL’ I

NDIAN WELLS, California—Scottish tennis star Andy Murray reacted to Maria Sharapova’s failed drug test by noting that he’s careful to read everything that is relevant to him. Sharapova said this week that she had tested positive for meldonium because she didn’t read the e-mail from the World Anti-Doping Agency that said the drug was on the prohibited list this year. The Russian called it a huge mistake. “Everyone’s obviously different,” Murray said on Thursday at the BNP Paribas Open. “Some people put a lot of trust in the people and the team around them, so it’s hard to say what’s the right thing for everyone, but I think it’s almost part of our job to know everything that’s going into our bodies and not just rely on what a doctor is saying or a physio is saying.” Murray said since Sharapova’s announcement he has been reading about meldonium, too, and what he’s learned makes him wonder about those using it. “The stories like this happen regularly,” he said. “It seems like it’s almost a weekly occurrence, so I wouldn’t say it was shocking, really. Obviously, since then you try and read about it and learn as much as you can and try to understand what’s really going on. I read that 55 athletes have failed tests for that substance

since January 1. You don’t expect such high-level athletes, at the top of many sports, to have heart conditions.” Meldonium, virtually unheard of in the United States, has been widely used in Eastern Europe and former Soviet countries for heart conditions. But it was placed on the banned list because it enhances oxygen uptake and endurance. A study recently released by the British Journal of Sports Medicine said that during last year’s European Games, meldonium may have been used by almost 500 athletes and there were 66 positive tests. “This study highlights the widespread and inappropriate use and prescribing of this prescription drug in a generally healthy athlete population,” the researchers said. Murray thinks that’s a problem with more than just meldonium, too. “I think taking a prescription drug that you don’t need just because it’s legal, that’s wrong,” he said. “If you’re taking a prescription drug and you’re not using it for what that drug was meant for, then you don’t need it, so you’re just using it for the performance-enhancing benefits that drug is giving you.” That being the case, Murray said, the penalty should be obvious. “If you’re taking performance-enhancing drugs and you fail a drug test, you have to get suspended,” he said. AP

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Frenchman R wins Stage 4 of Paris-Nice THIS time there’s no controversy in Nacer Bouhanni’s stage victory.

B S W The Associated Press

ONDON—Armed with enhanced techniques, the International Olympic Committee (IOC) is retesting hundreds of doping samples from the 2008 Beijing Olympics to weed out drug cheats before they can compete in this year’s Summer Games in Rio de Janeiro. In an interview with The Associated Press (AP), IOC Medical Director Dr. Richard Budgett said athletes who competed in Beijing and are likely to be selected for Rio are having their stored samples reanalyzed to catch any violators who evaded detection eight years ago. “We want to protect the clean athletes who are going to be competing in Rio,” Budgett said. “We are making sure that athletes who cheated back in 2008 don’t get to compete in Rio in 2016.” The IOC stores blood and urine samples from each games so they can be reanalyzed years later with improved testing methods. Any positive tests can lead to retroactive sanctions, disqualifications and loss of medals. The statute of limitations for retesting was extended in 2015 from eight to 10 years, meaning the Beijing samples remain valid through 2018. “Many of the athletes who are likely to be selected for Rio will have their samples retested a couple of years earlier OMANS-SUR-ISERE, France—French rider Nacer Bouhanni outpaced his rivals in a sprint finish to win the fourth stage of the Paris-Nice race on Thursday, while Australian Michael Matthews retained the overall lead. Matthews beat Bouhanni in controversial circumstances on Tuesday’s second stage when Bouhanni was penalized for deviating from his line in the final sprint. “This time there’s no controversy, I won,” Bouhanni said. “Of course I was a bit revengeful, what happened in Tuesday’s sprint upset me, and I slept badly that night. It consumed a lot of my energy and I wanted this win to forget all of that.” Bouhanni held off Belgian rider Edward Theuns and Andre Greipel of Germany to win the 195.5-kilometer (121-mile) trek from Julienas to Romans-sur-Isere at the foot of the Vercors mountain range in the Alps of southeastern France. Matthews leads Tom Dumoulin of the Netherlands by 14 seconds overall, with Patrick Bevin of New Zealand 19 seconds back in third place. The standings are set for a shakeup on Friday, when Stage 5

P.  |     | 7 DAYS A WEEK

than we need to,” Budgett told AP on the sidelines of the Tackling Doping in Sport conference in London. “There are some new analyses that are available. The samples are in the process of being retested. It’s in the hundreds.” “We’ve cooperated very closely with the international federations, finding out which athletes are still competing, finding out which athletes are likely to be selected for Rio,” he added. “If we’ve got samples for them from Beijing, we’re doing that testing.” Budgett said the process should be completed in the next few weeks. “If we have any adverse analytical findings, there will be a sanctioning process and those athletes will be very unlikely to compete in Rio,” he said. Noting that scientific techniques will continue to improve in the next two years, the IOC is keeping the other Beijing samples for retesting closer to the 2018 deadline, Budgett said. It’s not the first time that samples from Beijing have been retested. A few months after those games, the IOC reanalyzed nearly 1,000 of the total of 4,000 samples with a new test for the blood-boosting drug CERA. Five athletes were caught, including 1,500-meter gold medalist Rashid Ramzi of Bahrain. Budgett said some samples from the 2012 London Olympics are also being retested now on a targeted basis ahead of the Rio Games, although most are being saved for later reanalysis.

“We want to reserve samples for the expected advances that will happen over the next six years,” he said. Nearly 500 doping samples from the 2006 Winter Olympics in Turin have already been retested. The IOC has not disclosed whether those retests had produced any positive cases. Five athletes were caught in retests of samples from the 2004 Athens Olympics, including men’s shot put winner Yuriy Bilonog of Ukraine. On a separate issue, Budgett said he is confident that Brazil’s national antidoping agency will comply with World Anti-Doping Agency (Wada) rules by next week’s deadline to prevent Rio’s drugtesting laboratory from being ruled ineligible for the Olympics. The Brazilian agency has until March 18 to meet Wada’s guidelines. If it fails, the Rio lab would be declared noncompliant, meaning thousands of doping samples during the games would have to be sent out of Brazil for testing, posing major logistical and financial issues. Brazilian President Dilma Rousseff is scheduled to sign a decree on March 15 that would bring the agency into compliance. “We’re very hopeful that it finally will be resolved,” Budgett said. “The laboratory itself is performing well and really is state-of-the-art. We always have a Plan B. Anything can happen. That’s there in case, but I do not expect to be using it.” Budgett said the IOC plans to carry out a “similar number” of tests in Rio as the 5,000 conducted in London. An intelligence unit created by Wada is targeting athletes for testing in the lead-up to the games. “We’re not talking about the numbers any more, we’re talking about the quality,” Budgett said.

takes the peloton up the famed Mont Ventoux, one of the most feared climbs on the Tour de France. In Pomarance, Italy, Zdenek Stybar timed his attack to perfection to win the second stage of the Tirreno-Adriatico and move into the overall lead on Thursday. The Czech rider went clear at the top of the tricky final climb, opening up a gap on the short descent and holding off the chasing pack to win the 207-km (129-mile) stage from Camaiore to Pomarance. Peter Sagan of Slovakia was second, leading home an elite group of chasers finishing a second behind Stybar. Edvald Boasson Hagen of Norway was third. “We planned it a little bit two-anda-half weeks ago with [Etixx-QuickStep Sport Director Davide] Bramati that this could be a stage for me. So I was pretty focused for this stage,” Stybar said. “I knew that the last 2 or 3

km were very technical, which is good for me. I tried to go. I didn’t really plan to go there but I saw the opportunity, the space, and I thought ‘OK, the bunch will slow and I’ll go with everything I have.’” Local favorite Diego Ulissi attacked on the slopes of Il Cerreto, which had gradients of more than 16 percent, but he was reeled in and passed by Stybar near the summit. Vincenzo Nibali gave chase in the final kilometer, but was unable to bridge the gap and the Italian was swallowed up by the peloton in the sprint to the line. American squad BMC Racing won the opening team trial stage on Wednesday to put Daniel Oss into the leader’s blue jersey but the 10-second stage winner’s time bonus saw Stybar take over the overall lead. The Etixx-Quick-Step rider has an advantage of nine seconds over Oss’ teammates, Greg Van Avermaet and Tejay van Garderen. The seven-day Tirreno-Adriatico continues on Friday with a 176-km (110-mile) ride from Castelnuovo Val di Cecina to Montalto di Castro. AP

SPORTS

A8

Amb. Antonio L. Cabangon Chua: Your life made the world better

Total foreign direct investments last year, way below the $6-billion government target

As a result, the $5.724 billion FDI in 2015 was 0.3 percent lower than FDI of $5.74 billion in 2014. The numbers are a validation of the need for a government-led infrastructure buildup that at the beginning of the term of President Aquino was touted as one that would be investment-friendly. S “FDI,” A

Lazada, SM share expertise to take advantage of rising online shoppers

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ILLIONAIRE Henry Sy, owner of the largest Philippine builder and retailer, has partnered with an online retailer backed by Germany’s Rocket Internet SE to target the rising number of consumers in the Southeast Asian nation who shop using the Internet.

Projected compounded annual growth rate of the Philippine e-commerce market from 2013 to 2018

RETESTS UNDER WAY

International Olympic Committee Medical Director Dr. Richard Budgett said athletes who competed in Beijing and are likely to be selected for Rio are having their stored samples reanalyzed to catch any violators who evaded detection eight years ago.

least $6 bilion for the 12-month stretch. The shortfall came as FDI shrank by 51.3 percent in December 2015, to $273 million, from $561 million recorded in December 2014.

101.4%

BusinessMirror

TEENERS SHINE

Saturday, March 12, 2016 Vol. 11 No. 156

2015 FDI haul failed to meet expectations $5.724B F

INSIDE

B2-4 Saturday, March 12, 2016

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IT’S THE GOLDEN AGE OF TV IN A WORLD GONE DIGITAL “Television is still here to stay because of the ability of the screen to move people,” said Jude Turcuato, SVP and Philippine general manager at Fox Networks Group, who is among the veritable raft of advertising industry-leader speakers at this year’s Ad Summit Pilipinas. VERNON VELASCO

A

SM Investments Corp., Sy’s holding company, has reached an agreement to use the platform of the Philippine unit of Rocket Internet’s Lazada to sell online C  A

₧171B worth of RE projects OK’d by Aquino admin T HE Board of Investments (BOI) has approved a total of P170.95 billion worth of renewable-energy (RE) projects from 2010 to 2015, the investment-promotion agenc y reported on Friday. These investments, a BOI news statement said, came from 144 RE projects with a total generating capacity of 3,861 megawatts (MW). Most of these facilities are hydropower plants, which accounted for 45 projects, or 31 percent of the total RE

projects, the statement said. About 40 projects, or 28 percent of the total RE pledges in the BOI, are in solar power, followed by 29 biomass projects, and 15 each for geothermal- and windenergy farms, the BOI added. The RE sector is listed in the Investment Priorities Plan (IPP) of the BOI, which complements the Philippine Energy Plan 2010 to 2030 of the Department of Energy (DOE) to promote the use of RE. “Our industry-development pro-

PESO EXCHANGE RATES n US 46.7440

RODOLFO: “Energy is a major concern across industries, especially now that we are already experiencing the resurgence of the manufacturing industry.”

grams are geared toward building sustainable and resilient communities— which include achieving sustainable energy sources,” Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said. Rodolfo added that this also supports the Manufacturing Resurgence Program (MRP) of the government, as more manufacturing investments are expected to come in the Philippines for the coming years. “We encourage

MBASSADOR Antonio L. Cabangon Chua, founder of the BM, passed away peacefully on Friday at the age of 81. Any man whom God has seen fit to place on this planet for eight decades has inevitably touched the lives of thousands, one way or another. With a man’s death, we may first count his accomplishments and, certainly, the Ambassador created immense success during his life. The list of his ALC Group of Companies includes his press and media companies: Brown Madonna Printing, BusinessMirror, Philippines Graphic magazine, Pilipino Mirror, Cook magazine, and radio station DWIZ. His business interests include hotels, Fortune Insurance, Isuzu Gencars, Citystate Savings Bank, Citystate Properties and the Eternal Gardens Memorial Parks. C  A

S “RE ,” A

n JAPAN 0.4130 n UK 66.7738 n HK 6.0222 n CHINA 7.1831 n SINGAPORE 33.8798 n AUSTRALIA 34.8290 n EU 52.2504 n SAUDI ARABIA 12.467

Source: BSP (11 March 2016 )


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