Aquino visits wake of slain Calbayog City Mayor
CALBAYOG CITY: President Benigno S. Aquino III on Thursday assured the family of slain Calbayog City Mayor Reynaldo Uy that he will do everything to bring justice to the killing of the Liberal Party leader in Northern Samar province.
The President flew here Thursday morning to visit the wake of the slain mayor at the city’s sports complex and condoled with the latter’s wife and four grown-up children.
Aquino talked with the family for 15 minutes, during which they handed over to the President a letter which stated their concerns.
“He took his time to read the letter,” said Rosa Jessica Uy, the eldest daughter and one of the four grown-up children of the slain mayor, said at a brief news conference after the President left for another wake in Cebu City for Cebu Vice Governor Gregorio Sanchez Jr.
Mayor Uy, 59, was shot by a lone gunman using an M-16 Armalite rifle Saturday evening while attending a night dance on the eve of the town fiesta in Hinabangan, also in Western Samar. He was shot at the back during the opening prayer for the occasion which was also attended by three other town mayors.
He died the following day while undergoing operation at the St. Paul’s Hospital in Tacloban City. No arrests have been made as police continue to investigate the case.
Eunice Babalcon, a provincial board member who was injured in her right forearm during the shooting, said during the news conference, “We are very happy. This is very rare for the President to come here.”
“We have high hopes that we will get justice (for the death of my father),” Jessica Uy said.
The family members did not give any statement about the investigation of the murder, including the possible relief of some provincial officials of the Philippine National Police.
Jessica said the family and the local leaders of the Liberal Party, under which Aquino ran for president in the May 2010 elections, will continue the fight of her dead father.
Around the city, yellow posters with inscription “Justice for Ining Uy” and yellow buntings were displayed all over the city and the sports complex where the mayor’s remains lie in state. (PCOO)
Aquino expects investment upgrade from global credit rating agencies
President Benigno Aquino III said he expects an investment upgrade from global credit rating agencies soon in the midst of the country’s improving fiscal situation and declining debt- to-economic output ratios.
“In capital market, the Japan credit rating agency has already upgraded the outlook of our debt from stable to positive,” the President said during the 32nd national conference of the Employer’s Confederation of the Philippines (ECOP) at the Marriott Hotel in Pasay City on Thursday.
“Secretary [Cesar] Purisima has already met with the other ratings agencies as well making the case that our rating be further improved and we are confident that they will be improved enough in the future. This is important because this will reduce the cost of our external borrowings and give us wider access to outside markets,” the President said.
Purisima was in New York and Washington recently separately meeting with the representatives of the three debt watchers--Moody’s Investor Service, Fitch Ratings and Standard & Poor’s (S&P).
Given the government’s present goals, Purisima said the Philippines deserves a credit rating upgrade from the three major global rating agencies.
The Philippines has a rating that is three notches below investment grade by Moody’s and two notches below investment grade by Fitch and S&P.
The government reported last week a first quarter deficit of P26.197 billion or below the goal of P112 billion for the period. Improved collections by the two main agencies and prudent spending by the government can be attributed to the better-than-expected deficit for the first quarter.
These numbers have helped strengthen confidence by the business sector and this confidence can be seen in both the capital market and direct investments, according to the President.
The President also stressed that the stock market is experiencing solid success noting that the Philippine Stock Exchange index is posting high points despite the increases in the global oil prices.
The confidence of the business sector in the country’s business climate has already been translated into direct investment in manufacturing, energy, and tourism, he added.
These projects in turn will require hiring thousands of workers giving Filipinos opportunities to have jobs and sustain the growing economy, he concluded. (PCOO)
Aquino not keen on legislated wage hike
President Benigno Aquino III assured members of the Employers Confederation of the Philippines (ECOP) that his administration will ensure a good business environment and balance the interest of both the laborers and employers.
“We are doing this [effort on the economy] because we realize that the private sector is the main driver of economic growth,” the President told the members of ECOP during the organization’s national conference in Pasay City on Thursday.
“I know that some of you have concerns about possible increases in wages after I urged the wage boards to expedite the ruling on the petitions of labor unions. Our job is to balance, sometimes competing concerns. What we have offered to labor is not necessarily harmful to your interest,” he said.
At the same time, the President made an assurance that his administration will not back a congressional sponsored or legislated wage hike.
“We have no intention of asking Congress to legislate an across the board increase in wages,” he said noting that the Bangko Sentral ng Pilipinas said certain adjustments through the regional wage boards can still be absorbed by the economy.
He added that as the country sees more and more Filipinos having jobs and affording more than just their basic needs, it would create an economy that is a boom to businesses.
As the chief executive called on both the laborers and employers to revive the virtue of dialogue, sitting down and ironing out their differences, he also encouraged them to come up with a profit incentives sharing plan.
He noted that he initiated the productivity incentives plan when he was still in Congress and the President said he wants ECOP to come up with such a program for their workers.
“Labor and management working together is the key for a company’s success. It redounds to society’s pluses,” he said. (PCOO)
Gov't earmarks P4.2 million for President Aquino's trip to 18th ASEAN Summit
The government is spending about P4.2 million for President Benigno Aquino III's trip to Indonesia for the annual gathering of the leaders of the 10-member Association of Southeast Asian Nations (ASEAN) from May 7 to 8, Executive Secretary Paquito N. Ochoa Jr. said on Thursday.
The Chief Executive is set to leave Friday afternoon for Jakarta, accompanied by a 54-man delegation which includes Foreign Secretary Albert Del Rosario, Trade and Industry Secretary Gregory Domingo, Finance Secretary Cesar Purisima, and Energy Secretary Jose Rene Almendras.
“The President will be participating in the plenary sessions and bilateral meetings to pursue initiatives on human rights, disaster risk reduction, protection of migrant workers, peace and security, and environment, as well as the realization of the Millennium Development Goals,” Ochoa said. “And consistent with the President’s previous official foreign trips, every effort was made to keep expenses to the minimum.”
The P4.2 million covers expenses for hotel accommodations, food, transportation, telecommunications and equipment requirements, among others. It does not include air fares.
The President’s attendance to the 18th ASEAN Summit, a yearly meeting of the heads of states and governments of the regional bloc composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, is his second since he became the Chief Executive last year. His first was in Vietnam in November 2010.
Other officials who will join the presidential delegation are Secretary Ramon Carandang of the Presidential Communications Development and Strategic Planning Office, Mindanao Development Authority Chairperson Luwalhati Antonino, DFA Undersecretary Erlinda Basilio, Chief Presidential Protocol and Presidential Assistant Miguel Perez-Rubio, Trade and Industry Assistant Secretary Ramon Vicente Kabigting, and DFA Assistant Secretary Victoria Bataclan. (PCOO)
CALBAYOG CITY: President Benigno S. Aquino III on Thursday assured the family of slain Calbayog City Mayor Reynaldo Uy that he will do everything to bring justice to the killing of the Liberal Party leader in Northern Samar province.
The President flew here Thursday morning to visit the wake of the slain mayor at the city’s sports complex and condoled with the latter’s wife and four grown-up children.
Aquino talked with the family for 15 minutes, during which they handed over to the President a letter which stated their concerns.
“He took his time to read the letter,” said Rosa Jessica Uy, the eldest daughter and one of the four grown-up children of the slain mayor, said at a brief news conference after the President left for another wake in Cebu City for Cebu Vice Governor Gregorio Sanchez Jr.
Mayor Uy, 59, was shot by a lone gunman using an M-16 Armalite rifle Saturday evening while attending a night dance on the eve of the town fiesta in Hinabangan, also in Western Samar. He was shot at the back during the opening prayer for the occasion which was also attended by three other town mayors.
He died the following day while undergoing operation at the St. Paul’s Hospital in Tacloban City. No arrests have been made as police continue to investigate the case.
Eunice Babalcon, a provincial board member who was injured in her right forearm during the shooting, said during the news conference, “We are very happy. This is very rare for the President to come here.”
“We have high hopes that we will get justice (for the death of my father),” Jessica Uy said.
The family members did not give any statement about the investigation of the murder, including the possible relief of some provincial officials of the Philippine National Police.
Jessica said the family and the local leaders of the Liberal Party, under which Aquino ran for president in the May 2010 elections, will continue the fight of her dead father.
Around the city, yellow posters with inscription “Justice for Ining Uy” and yellow buntings were displayed all over the city and the sports complex where the mayor’s remains lie in state. (PCOO)
Aquino expects investment upgrade from global credit rating agencies
President Benigno Aquino III said he expects an investment upgrade from global credit rating agencies soon in the midst of the country’s improving fiscal situation and declining debt- to-economic output ratios.
“In capital market, the Japan credit rating agency has already upgraded the outlook of our debt from stable to positive,” the President said during the 32nd national conference of the Employer’s Confederation of the Philippines (ECOP) at the Marriott Hotel in Pasay City on Thursday.
“Secretary [Cesar] Purisima has already met with the other ratings agencies as well making the case that our rating be further improved and we are confident that they will be improved enough in the future. This is important because this will reduce the cost of our external borrowings and give us wider access to outside markets,” the President said.
Purisima was in New York and Washington recently separately meeting with the representatives of the three debt watchers--Moody’s Investor Service, Fitch Ratings and Standard & Poor’s (S&P).
Given the government’s present goals, Purisima said the Philippines deserves a credit rating upgrade from the three major global rating agencies.
The Philippines has a rating that is three notches below investment grade by Moody’s and two notches below investment grade by Fitch and S&P.
The government reported last week a first quarter deficit of P26.197 billion or below the goal of P112 billion for the period. Improved collections by the two main agencies and prudent spending by the government can be attributed to the better-than-expected deficit for the first quarter.
These numbers have helped strengthen confidence by the business sector and this confidence can be seen in both the capital market and direct investments, according to the President.
The President also stressed that the stock market is experiencing solid success noting that the Philippine Stock Exchange index is posting high points despite the increases in the global oil prices.
The confidence of the business sector in the country’s business climate has already been translated into direct investment in manufacturing, energy, and tourism, he added.
These projects in turn will require hiring thousands of workers giving Filipinos opportunities to have jobs and sustain the growing economy, he concluded. (PCOO)
Aquino not keen on legislated wage hike
President Benigno Aquino III assured members of the Employers Confederation of the Philippines (ECOP) that his administration will ensure a good business environment and balance the interest of both the laborers and employers.
“We are doing this [effort on the economy] because we realize that the private sector is the main driver of economic growth,” the President told the members of ECOP during the organization’s national conference in Pasay City on Thursday.
“I know that some of you have concerns about possible increases in wages after I urged the wage boards to expedite the ruling on the petitions of labor unions. Our job is to balance, sometimes competing concerns. What we have offered to labor is not necessarily harmful to your interest,” he said.
At the same time, the President made an assurance that his administration will not back a congressional sponsored or legislated wage hike.
“We have no intention of asking Congress to legislate an across the board increase in wages,” he said noting that the Bangko Sentral ng Pilipinas said certain adjustments through the regional wage boards can still be absorbed by the economy.
He added that as the country sees more and more Filipinos having jobs and affording more than just their basic needs, it would create an economy that is a boom to businesses.
As the chief executive called on both the laborers and employers to revive the virtue of dialogue, sitting down and ironing out their differences, he also encouraged them to come up with a profit incentives sharing plan.
He noted that he initiated the productivity incentives plan when he was still in Congress and the President said he wants ECOP to come up with such a program for their workers.
“Labor and management working together is the key for a company’s success. It redounds to society’s pluses,” he said. (PCOO)
Gov't earmarks P4.2 million for President Aquino's trip to 18th ASEAN Summit
The government is spending about P4.2 million for President Benigno Aquino III's trip to Indonesia for the annual gathering of the leaders of the 10-member Association of Southeast Asian Nations (ASEAN) from May 7 to 8, Executive Secretary Paquito N. Ochoa Jr. said on Thursday.
The Chief Executive is set to leave Friday afternoon for Jakarta, accompanied by a 54-man delegation which includes Foreign Secretary Albert Del Rosario, Trade and Industry Secretary Gregory Domingo, Finance Secretary Cesar Purisima, and Energy Secretary Jose Rene Almendras.
“The President will be participating in the plenary sessions and bilateral meetings to pursue initiatives on human rights, disaster risk reduction, protection of migrant workers, peace and security, and environment, as well as the realization of the Millennium Development Goals,” Ochoa said. “And consistent with the President’s previous official foreign trips, every effort was made to keep expenses to the minimum.”
The P4.2 million covers expenses for hotel accommodations, food, transportation, telecommunications and equipment requirements, among others. It does not include air fares.
The President’s attendance to the 18th ASEAN Summit, a yearly meeting of the heads of states and governments of the regional bloc composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, is his second since he became the Chief Executive last year. His first was in Vietnam in November 2010.
Other officials who will join the presidential delegation are Secretary Ramon Carandang of the Presidential Communications Development and Strategic Planning Office, Mindanao Development Authority Chairperson Luwalhati Antonino, DFA Undersecretary Erlinda Basilio, Chief Presidential Protocol and Presidential Assistant Miguel Perez-Rubio, Trade and Industry Assistant Secretary Ramon Vicente Kabigting, and DFA Assistant Secretary Victoria Bataclan. (PCOO)
