“Are they more afraid than the children at Sandy Hook? What is so scary about having a vote?”—Rep. Mike Thompson, Democrat-California, as Democrats staged an extraordinary all-day sit-in on the House floor to demand votes on gun-control bills. AP
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“We are not shackled to a corpse. You can see the European economy’s recovery. It’s the largest single market in the world.”—British Prime Minister David Cameron to the BBC, as voters will determine whether the United Kingdom will retain its membership in the European Union. AP
“She gets rich making you poor.”—Donald Trump, who launched a blistering attack on Hillary Clinton’s record and character, while his presidential rival countered with: “He’s going after me personally because he has no answers on the substance.” AP
BusinessMirror
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A broader look at today’s business n
Saturday, June 25, 2016 Vol. 11 No. 259
P25.00 nationwide | 3 sections 16 pages | 7 days a week
LIMITED TRAFFIC EXCHANGE WILL NOT REALLY IMPROVE INTERNET EXPERIENCE
Telcos’ IP-peering deal needs tweaking–expert
T
INSIDE
By Lorenz S. Marasigan
3 Gbps
@lorenzmarasigan
he deal that provides for exchange of local traffic between the core networks of the two largest telcos in the Philippines is enmeshed in strings that may require to be unknotted, if they are really willing to improve the Internet experience in the country.
simmons: FROM DOWN UNDER AND ON TO THE TOP
The cap set by Globe and PLDT for free Internet-traffic exchange In her latest commentary on the telecommunications industry, Mary Grace Mirandilla-Santos, an independent researcher on information and Continued on A2
JULY POWER RATES COULD SEE HIKE ON PLANT SHUTDOWNS
P
By Lenie Lectura
@llectura
ower rates in July are likely to be adversely affected by the number of times a yellow alert was issued this month. According to Manila Electric Co. (Meralco) officials, the Luzon grid experienced five yellow alerts due to a number of power plants that went on unscheduled shutdown. A yellow alert is issued when power reserves dwindle and fall below 647 megawatts (MW). A yellow alert does not necessarily mean power outages or blackouts, but it could turn to a red alert, which means power outages are very likely to occur. “Given the number of yellow alerts recently, it is likely that this will have an impact on prices in the spot market,” said Meralco Spokesman Joe Zadriaga in an interview. By spot market, he was referring to the Wholesale Electricity Spot Market (WESM), the country’s trading floor for electricity. “In the past, whenever there is tightness in supply, the usual impact is higher prices. Coming from two straight months of reductions at record-low levels, the trend of lower rates may be difficult to sustain due to the yellow alerts,” Zaldariaga added. See “Power rates,” A2
sports
Panama Canal expansion
A8
The $5.25 billion expansion is expected to double the canal’s capacity, tap new markets and cut global maritime costs by an estimated $8 billion a year.
LEBRON, TOO, SKIPS RIO games
Comparing old and new canal locks
Existing locks
Depth 42 ft. (12.8 m) Width 110 ft. (33.5 m) Vessel capacity about 5,000 containers
New locks Depth 60 ft. (18.3 m) Width 180 ft. (54.9 m) Vessel capacity: 13,200 containers
Sports
Colon
A8 Expansion includes rising of Gantun lake for maximum operation level
British Prime Minister David Cameron speaks outside 10 Downing Street, London, as his wife Samantha looks on. Cameron says he will resign by the time of party conference in the fall, after Britain voted to leave the European Union after a bitterly divisive referendum campaign, according to tallies of official results on Friday. Lauren Hurley/PA via AP
YOUR PASCHAL MYSTERY God in Christ, You have borne our sorrow and carried our uniquities. We pray: Teach us to be faithful, O God. Help us to pause and ponder Your paschal mystery and great love. Strengthen the catechumens and all who will receive the sacraments of the Easter Vigil. Inspire preachers, pastors and all who proclaim Your Word. May God bless us with mercy, kindness and compassion, and grant us salvation. May Your paschal mystery remind us of the salvation You offered to all mankind. Amen! Give Us This Day, Committee on Divine Worship, Shared by Luisa M. Lacson
Detailed
Panama Canal
New lock complex
New lock complex
Gatun Lake
PANAMA Pacific Ocean
PANAMA
UK votes for Brexit as Cameron resigns
T
he United Kingdom voted to quit the European Union (EU), after more than four decades in a stunning rejection of the continent’s postwar political and economic order, prompting Prime Minister David Cameron to resign and sending shock waves around global markets. The pound plunged to the lowest since 1985; Asian stocks tumbled and US Treasuries surged in one of the most dramatic 24 hours in modern British history. The final tally, announced just after 7 a.m., London time, showed voters had backed “Leave” by 52 percent to 48 percent. The government’s pro-EU campaign was defeated by more than 1 million ballots. “The British people have made a very clear decision to take a different path and, as such, I think the country requires fresh leadership,” Cameron said in an emotional statement Continued on A2
PESO exchange rates n US 46.5110
Alajuela Lake
5 km 5 miles
Panama City Balboa
Britons approval of EU leadership Do you approve or disapprove of the job performance of the leadership of the European Union? (Among Britons) Approve
Disapprove
Comparing container ships
56%
44% 37%
36% ’08
’09
’10
’11
Source: Gallup Graphic: Staff, Tribune News Service
’12
’13
’14
’15
The size ship that can pass through the Panama Canal now compared to the new size in 2014 Current length 965 ft. (294 m)
New length 1,200 ft. (366 m)
Current width 106 ft. (32 m)
Current draft 39 ft. (12 m) deep
New width 160 ft. (49 m) New draft 50 ft. (15 m) deep
’16
Source: AP, Canal De Panama, Hofstra University, U.S. Army, Ft. Lauderdale Sun-Sentinel, Los Angeles Times Graphic: Tribune News Service
n japan 0.4455 n UK 68.4270 n HK 5.9952 n CHINA 7.0739 n singapore 34.7642 n australia 34.8833 n EU 52.5528 n SAUDI arabia 12.4063
Source: BSP (23 June 2016 )