“Death to your oppression.”—An entry in a journal kept by accused New York/New Jersey bomber, Ahmad Khan Rahami, according to court papers. AP
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“Nobody claimed that he was a perfect individual. Who is perfect? But that night he was not a criminal.”—Melvin Hall, attorney for the family of Terence Crutcher, the unarmed black man shot to death in the middle of a Tulsa, Oklahoma, street last week by a white police officer. AP
“Most people were probably blindsided by the news, and that’s largely due to their tightly managed images.”—Janice Min, president of the Hollywood Reporter-Billboard Media Group, after Brad Pitt and Angelina Jolie filed for divorce this week. AP
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D.A. ASSURES ANY NEW W.T.O. CONCESSION WILL NOT AFFECT NON-AGRI INDUSTRIES
‘Rice QR extension will not hurt other sectors’ @jearcalas
he Department of Agriculture (DA) is willing to increase the volume of rice currently allowed to enter the country under the minimum-access volume (MAV) scheme, should it decide to renegotiate the extension of the quantitative-restriction (QR) flexibility it currently enjoys from the World Trade Organization (WTO).
INSIDE
FORMER SANTIAGO CITY MAYOR TURNS TO FARMING
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June 30, 2017
The scheduled lapse of the extended quantitative-restriction scheme on rice imports “If they would ask for more on rice, then there’s no problem about it, as long as it is reasonable,” Agriculture Undersecretary for Policy and Planning Segfredo R. Serrano said. However, the DA is prudent on Continued on A2
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obama’s warning on U.K. trade is now reality, U.s. trade rep says news@businessmirror.com.ph
BusinessMirror
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Obama’s warning on UK trade is now reality, US trade rep says
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Froman, the White House’s top trade negotiator, also poured scorn on the idea put forward by the United Kingdom’s pro-Brexit camp that the country can im-
mediately start discussing deals with other parts of the world. “The UK first and foremost needs to focus on how to define its future relationship with the
EU and that will be its overwhelming preoccupation and it’s really impossible for anybody else to negotiate a free-trade agreement with the UK until you know what is its competence,” Froman said in an interview in New York. During the referendum campaign, Brexit supporters, such as now-Foreign Secretary Boris Johnson, said Britain outside the EU would be free to swiftly pursue its own trade deals with the rest of the world. They criticized Obama’s intervention as part of a slew of tactics aimed at scaring voters into choosing to remain in the bloc. Three months after the UK’s vote to leave, European leaders are urging Prime Minister Theresa
May to make clear her vision for Britain’s future EU ties. She has yet to trigger the bloc’s Article 50 to fire the starting pistol on two years of negotiations for withdrawal. Obama’s warning, made in London in April, that the UK would be at the back of the line for a US trade deal is now “in reality the case,” Froman said, adding that the British government needs to concentrate on working out how it will trade with the EU in the future. “Is it in a customs union with the European Union? Does it have control over its tariffs? Does it have control over its regulations?” he said. “And those are still issues that are to be worked out between London and the other European capitals.”
The US is focusing on negotiations on the proposed trade pact with the EU, the so-called Transatlantic Trade and Investment Partnership (TTIP), Froman said. The UK would have been part of TTIP had it not opted to leave the bloc. “It’s absolutely clear, we have a very special relationship with the UK, we’re going to want to find ways to maintain and strengthen and deepen that trade and investment relationship over time but right now our priority is to get TTIP done,” Froman said. “Their priority, understandably and importantly, is in figuring out the answers to those questions about what their relationship with the European Union is going to be.” Bloomberg News/TNS
Mexico, Brazil, Uruguay prexies denounce US embargo on Cuba W
ASHINGTON—Several LatinAmerican presidents used the bully pulpit of this week’s United Nations General Assembly to call for the United States to end the trade embargo on Cuba. “Resumption of diplomatic relations
between Cuba and the United States of America is a clear-cut token that there is no such a thing as endless animosity or insurmountable impasse,” Brazilian President Michel Temer said while addressing the General Assembly. Members of the United Nations
General Assembly have largely opposed the embargo for years. But this year’s push comes as more countries have increased pressure on the United States to update its Cuba policies in light of warming ties between the two nations and
P r e s i d e n t B a r a c k O b a m a’s o w n desire to end the embargo. Change is so overdue, President of Uruguay Tabare Vazquez said, that the General Assembly should no longer be discussing the “unfairly ” imposed embargo. If the Colombian government
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entral bank Governor Amando M. Tetangco Jr. sought to soothe investors spooked by President Duterte’s rhetorics around his antidrug war, with stocks poised for the longest outflow since 2007. “If you take out the noise and look at the fundamentals, look at the economic program, look at the quality of the members ap-pointed to the economic team, then these are all solid,” Tetangco told bankers, traders and fund managers late Thursday in Manila. Tetangco joins a host of economic officials, including Finance Secretary Carlos G. Dominguez III, who on Wednesday said economic policies have been clear and consistent since Mr. Duterte took office in June. S&P Global Ratings this week warned of “rising uncertainties surrounding the stability, predictability and accountability” under the new government. “All this negative news about the President is going to affect investor sentiment, but as long as the economic team can push through with their plans, the economy will remain strong,” said Gundy Cahyadi, an economist with DBS Group Holdings Ltd. in Singapore. “For the time being, we still think there is plenty of positives to look at.” Money that flowed into the Philippines after the May See “Investors,” A2
The World
triking a trade deal with the Uk is not on the US’s list of priorities, trade representative Mike Froman said, echoing President Barack Obama’s pre-Brexit vote warning that a decision to leave the European Union would push Britain to the “back of the queue”.
file photo
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By Jasper Emmanuel Y. Arcalas
GOVT TRIES TO SOOTHE INVESTORS ‘SPOOKED’ BY DUTERTE RHETORICS
can reach a peace agreement with the Revolutionary Armed Forces of Colombia, known as FARC, after 50 years of bloody conflict, the United States and Cuba should be able to resolve their differences enough to lift the embargo, Mexican President Enrique Peña Nieto said. AP
FBI evaluating abuse allegations vs Brad Pitt
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OS ANGELES—The Federal Bureau of Investigation (FBI) is gathering i n fo r m at i o n a b o u t a n i n c i d e nt involving actor Brad Pitt and his family aboard a private flight last week, the agency confirmed on Thursday. Spokesman Laura Eimiller said the FBI is still evaluating whether to open an investigation into allegations Pitt was abusive during the flight toward one of his six children with actress Angelina Jolie-Pitt, as several media outlets have reported. The news reports from anonymous sources contend the actor is under investigation by a child-welfare agency because of the September 14 airborne incident. The allegation involved unruly behavior by Pitt while airborne with his child present, the source said on Thursday, but would not elaborate. The Los Angeles County Department of Children and Family Services (DCFS) is now conducting an investigation into Pitt’s behavior while the family was flying on a private jet from France to the United States, the source said. TMZ first reported allegations that the Los Angeles Police Department (LAPD) and DCFS were investigating Pitt following an incident at an out-of-state airport involving Angelina Jolie and their children. The web site claims Pitt was physically and verbally abusive with his children during a flight on a private jet on September 14. TMZ alleges Pitt tried to drive off in a fuel truck after the plane landed. The web site reported that an anonymous report was sent to the family services department. On Thursday the LAPD denied claims that its detectives were investigating child-abuse allegations involving Pitt. “LAPD is not handling any reports or allegations into child abuse for Mr. Pitt,” spokesman Officer Jenny Houser said on Thursday. AP and Los Angeles Times/TNS
world
PHL businesses hoping China will hike investments B2-1
salvador grabs lead
gradual retrenchment from trade and investment ties, and curbs on immigration. These scenarios would have ramifications beyond US borders,” Moody’s said. Among the strongest impacts of this type of policy change on the Philippines, according to Moody’s, will be on remittances, as money sent home by migrant workers could weaken if Continued on A2
See “Investments,” A2
Remittance growth faces new threat
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@BcuaresmaBM
hreat in the already-sluggish remittance numbers of the Philippines has surfaced, this time from the potential immigrationpolicy changes in the United States— one of the country’s largest remittance sources—after its elections this year, an international credit watcher said.
PESO exchange rates n US 47.8350
In its most recent sector in-depth analysis on rated Asia-Pacific count r ies, Moody ’s Investors Ser v ice said campaign proposals ahead of the US presidential election in November this year point to a potential period of less proactive foreign engagement over time, whoever of the candidates win. “Outcomes could range from a continuation of the status quo to a
@davecaga
ith Manila’s shift in foreign policy further toward Beijing, more foreign direct investments (FDI) are expected by Philippine businesses from China, which poured less investments to the Philippines in the Aquino administration compared to its fellow developing countries in Asia. According to the Philippine Chamber of Commerce and Industry (PCCI), China has always been seeking to increase investments in the Asean, which Beijing considers as a major regional trading partner, as long as there are fresh opportunities. “With regard to China, they’re investing in Asean, and they’re always looking for opportunities. Having seen the improvements in the Philippines, that will encourage them to invest more,” PCCI President George T. Barcelon told the BusinessMirror. Barcelon said among the improvements that the Chinese government and businesses see in the Philippines in the first few weeks of the Duterte administration is the good peace-and-order situation, brought about by President Duterte’s encouragement to the police to enforce laws more strictly, particularly against illegal drugs and criminality.
STREAMING IN TANDEM PLDT and Smart Communications Chairman Manuel V. Pangilinan (left) and Transportation Secretary Arthur P. Tugade show off livestreamed images during the launch of the telco’s free Internet service at the Ninoy Aquino International Airport (Naia). Over 30 million travelers use the Naia every year, and each now has access to high-speed Internet, after PLDT and Smart upgraded their connectivity services to carrier-grade Wi-Fi. All four terminals of the Naia now have backhaul capacity of up to 1 gigabit per second, providing up to 3,000 concurrent users of Smart Wi-Fi a seamless digital experience when checking on their social-media accounts, e-mail, or simply keeping in touch with the home or office when traveling. NONIE REYES
By Bianca Cuaresma
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By David Cagahastian
n japan 0.4749 n UK 62.5825 n HK 6.1683 n CHINA 7.1753 n singapore 35.2765 n australia 36.5555 n EU 53.6135 n SAUDI arabia 12.7584
Source: BSP (23 September 2016 )