6. Over 1,000 NHA houses ready for homeless policemen in Zamboanga, President Aquino says 7. Aquino says Department of Labor and Employment ready to assist OFWs under threat of ban by a Hong Kong political party 8. Rule of law must prevail for peaceful, prosperous Asian region, says Aquino 9. Philippines emerge as stongest performer among East and Southeast Asian neigbors in terms of export growth, Palace official says 10. ASEAN leaders agree on Bandar Seri Begawan Declaration on the ASEAN Community’s Post 2015 Vision 11. US Secretary of State to visit the Philippines before the end of the year instead 12. ASEAN renews commitment for regional, global peace 1. Aquino says Philippines strong enough to handle impact of US financial troubles
(BRUNEI DARUSSALAM) A potential US financial meltdown is unlikely and in case it happens, the Philippines is prepared to handle it, President Benigno S. Aquino III said on Wednesday. ―There are these several steps that have been done by both the economic cluster and the Bangko Sentral ng Pilipinas and they can explain the technical... the technical aspects of how we are cushioning the effects,‖ the President during an interview by the Philippine media at the Philippine Embassy here Wednesday. ―The world‘s biggest economy turns belly up, how can you actually protect yourself? But I don‘t think that will happen,‖ he added. The President said even US Secretary of State John Kerry said that this is just an excess of politics in the US and every American politician knows the consequences of a prolonged government shut down and a default. For his part, Finance Secretary Cesar Purisima said the default is something that is unthinkable, but nevertheless, the Philippine government is preparing for any eventuality by making sure that the country is in a flexible position such as in its liquidity position. ―Everyone‘s affected, as the President said. But the good thing about the Philippines is that our OFWs are all over the world not just in the US,‖ Secretary Purisima noted. ―Our BPO industry becomes stronger when times become difficult because of the need to become more competitive and more efficient, and then tourism is increasingly becoming an important consideration,‖ he added. The credit risk of the country has also improved as a result of recent investment rating upgrades, Purisima said. ―In fact, when we did the auction the other day, we borrowed at a lower cost than the US for the first time. This is an anomaly but it was—we borrowed for 90 days at one basis point; the US borrows at two basis points,‖ he added. President Aquino also said that in times of turmoil, investors try to find safe harbor, and bringing their money to the Philippines is better because of the country‘s more stable financial environment. PND (as) TOP 2. Aquino, Prime Minister Abe discuss digital TV system shift during bilateral meeting (BRUNEI DARUSSALAM) The Philippines may prefer using the Japanese standard when the country shifts to digital terrestrial television (DTV), said President Benigno S. Aquino III who talked with his Japanese counterpart here during a bilateral meeting on Wednesday. In an interview with the Philippine media at the Philippine Embassy here Wednesday night, the President said he told Japanese Prime Minister Shinzo Abe about the government study on the planned transition to another TV standard. The technical working group has completed their assessment, and the stakeholders proposed that the Philippines adopt the Japanese system, the President said. ―May last step na gagawin ang NTC which is to hold a hearing among the stakeholders who were actually the proponents. So parang we are migrating to the Japanese digital standards—that‘s one thing we discussed,‖ he said. To finalize the process, the President said the National Telecommunications Commission (NTC) will call for a final hearing among the stakeholders. This will be the last bureaucratic step necessary for the transition, he added. The reason why Philippine industry experts prefer the Japanese standard is its ability for an emergency broadcast during emergencies, he said.