Businessmirror july 24, 2016

Page 1

media partner of the year

United nations

2015 environmental Media Award leadership award 2008

BusinessMirror

www.businessmirror.com.ph

A broader look at today’s business n

Sunday, July 24, 2016 Vol. 11 No. 288

P25.00 nationwide | 3 sections 16 pages | 7 days a week

CORN WORLD Taking advantage of the hot, sunny weather, a farmer sun-dries his corn harvest on a multipurpose pavement in Santiago City, Isabela. Next to rice, corn is a major cash crop in the province up north. SUZANNE JUNE G. PERANTE

Group pushes rail system at port area to ease traffic By Lorenz S. Marasigan

@lorenzmarasigan

A

CARGO-train system operating in the capital’s port area will serve a two-pronged purpose: Decongest traffic in Metro Manila and improve efficiency in the cargo-transport sector, a transport group said on Saturday. National Alliance of Transport Organizations (Nato) Executive Director Michael Salalima said his group supports the proposal of various prominent private and public transport and management groups to alleviate the chronic traffic congestion through a cargo railsystem project. “A rail-based solution is a viable alternative to address the congestion in Metro Manila and its environs. Expanding the rail systems, both for more efficient cargo transport, as well as commuter relief, is the first step to decongest our major roads,” Salalima said. The implementation of a container rail service is among the transport projects presented by Transportation Secretary Arthur P. Tugade in his first 100 days in office during a business forum earlier this week. “From a transport industry’s perspective, among the projects being considered by the transport department during the first three months of the Duterte administration, the See “Port,” A2

Aggressive infra spending seen to put pressure on peso South China Sea A ruling has so far By Bianca Cuaresma

@BcuaresmaBM

GGRESSIVE spending and investment, as planned and promised by the current administration, is likely to affect the movement of the peso in the near to medium term, economists said.

At the onset of the administration of President Duterte, ramping up spending in infrastructure is among the priorities of his economic team, citing the losses the country is seeing amid the lag in infrastructure. This, according to economists, will not only help speed up the economic expansion and increase the productive capacity of the country, but also move to influence the peso Continued on A2

fueled tensions

Ecotourism and leisure do mix in Nasugbu, Batangas I

By Leony R. Garcia

USED to consider Batangas as my provincial home. On summer vacations during my high-school days, my uncle’s wife would bring me to her hometown for a vacation in Cuenca. Later after college, and while savoring my singlehood, my friends and I would go to Nasugbu—in the towns of Looc and Calayo—every time we had a chance to join church activities with the locals. At that time, there was hardly any electric service in Looc; there was none in Calayo. Transportation by public bus taking the Tagaytay route—which took four hours from Manila—was far from desirable. From Nasugbu proper, we had to content ourselves riding a jeepney jampacked to its roof traversing rugged roads to be able to reach Looc, while we had to ride a motorized banca from Nasugbu port, in order to reach the coastal town of Calayo. In fact, the most fearful experience I had happened one summer, when my friends and my

PESO exchange rates n US 47.1630

A woman walks past a billboard featuring the South China Sea on display with Chinese words that read “South China Sea, our beautiful motherland, we won’t let go an inch” in Weifang, in east China’s Shandong province on July 14. Chinatopix via AP

I

A VIEW of the infinity pool and beach at Pico de Loro Beach and Country Club.

family went to Calayo. Our banca nearly capsized in the middle of the sea. Onboard with us were my 8-month-old son and the year-old son of our pastor. We went back to Calayo after three years for the church’s summer camp, when my son was about 3 years old. That was some 20 years ago. Since then, I had not gone back to Looc or Calayo because of work and time constraints. But I was happy that in recent years, Nasugbu has been included among the

LEONY GARCIA

popular tourist destinations this part of Batangas province. Most tourists flock to Nasugbu to enjoy the beauty of nature and to visit the Nasugbu beach resorts. Many are attracted to mountain trekking in Pico de Loro, Mount Talamitam and Mount Batulao, and even activities like deep-sea fishing. And with Nasugbu being increasingly urbanized, a lot of residential and resort properties with beautiful amenities are in store for tourists. See “Nasugbu,” A2

T’S a ruling that China cannot accept, and one that the Philippines must. An international arbitration panel’s decision on the contested waters of the South China Sea, so far, is fueling regional tensions, rather than tamping them down. In the ensuing 11 days China has responded to the sweeping victory for the Philippines by flexing its military might. The Philippines faces pressure both at home and abroad not to cede an inch to China after the July 12 decision by a tribunal at The Hague-based Permanent Court of Arbitration. The South China Sea is dot-

ted with reefs and rocky outcroppings that several governments claim, including China and the Philippines. The arbitration panel didn’t take a position on who owns the disputed territories. It did conclude that many of them are legally rocks, even if they’ve been built into islands and, therefore, do not include the rights to develop the surrounding waters. That and other findings invalidated much of what China called its historic claims to the resourcerich sea. In order to ease tensions, China, the Philippines and possibly other claimants must define what the ruling means Continued on A2

n japan 0.4458 n UK 62.4202 n HK 6.0812 n CHINA 7.0640 n singapore 34.8066 n australia 35.3487 n EU 52.0066 n SAUDI arabia 12.5765

Source: BSP (22 July 2016 )


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.