Businessmirror march 22, 2017

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BMReports

PHL confronts challenge of China on sovereign soil By Recto Mercene

@rectomercene

Conclusion

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EFENSE Secretary Delfin N. Lorenzana was the first to broach China’s plan in Benham Rise. The Benham Rise is a 13-million-hectare undersea region located east of Luzon, off the provinces of Isabela and Aurora. Last year the Department of Agriculture (DA) said Benham Rise is ideal for implementing long-line fishing, a method that uses multiple hooks and is not widely practiced yet in the country. Compared to other fishing grounds, fishes caught in Benham Rise are bigger, the DA said, citing data from several years of research on the area. In a forum on security-threat assessment at the National Defense College of the Philippines, Lorenzana said he received a report that a Chinese survey ship could be searching for potential spots to place its submarines at Benham Rise. Lorenzana added the Department of National Defense (DND) did not know the reason for the Chinese survey. However, Lorenzana said he has ordered the Philippine Navy “to drive them [Chinese service ship] away and ilayo sila [bring them far] from the eastern side of the Philippines.” Continued on A2

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Wednesday, March 22, 2017 Vol. 12 No. 161

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@c_pillas29

rade Secretary Ramon M. Lopez is opposing the plan to create a trade representative office— similar to the Office of the United States Trade Representative (USTR)—seeing an inefficient duplication in effort and resources between the proposed agency and the Department of Trade and Industry (DTI).

PHL SELLING EXCESS SUGAR TO STABILIZE LOCAL PRICE By Jasper Emmanuel Y. Arcalas @jearcalas

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he Sugar Regulatory Administration (SRA) said it has allowed local traders and producers to export sugar to countries other than the United States to arrest the decline in the domestic price of sugar. The SRA issued Sugar Order (SO) 1-B, which authorized the reallocation of locally produced sugar in

crop year (CY) 2016-2017. SO 1-B amended SO 1-A, issued by the SRA on January 24. Under SO 1-B, the SRA reduced the allocation for “B” (domestic) sugar to 74 percent from 94 percent and allocated the 20 percent for “D” sugar, or those shipped to countries other than the US. The SRA maintained its allocation for “A” sugar, which is exported to the US, at 6 percent. See “Sugar,” A2

PESO exchange rates n US 50.1450

The evil done by do-gooders

LOPEZ: “There will just be redundancy in work, extra bureaucracy and an extra budget.”

“I haven’t seen the proposal, but offhand, I don’t see the need to change it, because there will just be redundancy in work, extra bureaucracy and an extra budget. There won’t be quick synergies, and [the work] will not be efficient if it’s not under the DTI,” Lopez said in a text message. According to a BusinessMirror report on Monday, the government See “DTI,” A12

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DTI nixes plan to create specialized trade office By Catherine N. Pillas

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free fire

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O-GOODERS can be the worst. In the past year, dogooders like the New York Times have been pouring scorn on freedom icon Aung San Suu Kyi for allowing the systematic state-sponsored mass rape and mass murder of Rohingyas—Punjabi Muslims who wandered southwest to where they settled in old Burma. What is being done to Rohingyas qualifies as genocide under Goldhagen’s standards in his book Worse Than War. Rohingyas are not like those who choose the career of pushing drugs to destroy people. Rohingyas are what they cannot help but be: Burmese of another race and religion other than the dominant Buddhism. Just like Jews in Germany before World War II and Armenians in Turkey shortly after World War I. Continued on A10

Pagcor okays $500-M Mactan casino By Catherine N. Pillas

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@c_pillas29

he Philippine Amusement and Gaming Corp. (Pagcor) has approved the license for Lapu-Lapu City Casino, a $500million integrated resort to be located on Mactan Island, Pagcor Chairman Andrea D. Domingo announced on Tuesday at the opening of the three-day Asean Gaming Summit in Pasay City. Domingo said another application

DOMINGO: “Cebu is the second-largest metropolis, and the local government units there are wiling to give the required noobjection resolution for casinos to operate, so it’s an attractive destination.”

from a Hong Kong-based group for a license to operate an integrated resort in Mandaue is pending approval. She refused to disclose the Filipino firm licensed to operate

the Lapu-Lapu City Casino. Pagcor requires a minimum investment of $300 million for integrated resorts located outside Metro Manila. “Cebu is the second-largest metropolis, and the local government units there are wiling to give the required no-objection resolution for casinos to operate, so it’s an attractive destination,” she added. Mea nwh i le, Dom i ngo sa id the public bidding of the service contract for its e-games network,

previously held by Philweb, will be held by the end of March or early April. “The TOR [terms of reference] for the service contract has already been approved by the board, and we’ll have the bidding by the end of the month or first week of April,” she said. Domingo earlier announced the service contract for its Internet cafés dedicated to casino gaming would undergo public bidding after it decided See “Pagcor,” A2

n japan 0.4455 n UK 61.9792 n HK 6.4575 n CHINA 7.2579 n singapore 35.9076 n australia 38.7571 n EU 53.8607 n SAUDI arabia 13.3720

Source: BSP (21 March 2017 )


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