PHNO-HL: NOY TO CHINA: PULL OUT SHIPS FROM SHOAL; DEFENDING KALAYAAN ISLAND

NOY TO CHINA: PULL OUT SHIPS FROM SHOAL;
DEFENDING KALAYAAN ISLAND
[PHOTO
-President Benigno Aquino III. President
Benigno Aquino on Wednesday said he would order government vessels back to
Scarborough Shoal once the stormy weather clears, if ships from China have not
left the area by then. Speaking to reporters after attending a convention of the
Autonomous Region in Muslim Mindanao at Waterfront Hotel in Davao City, Mr.
Aquino said a military plane would fly to Scarborough Shoal as soon as the
weather clears to see if China's vessels were still there. "If there is a
presence in our territorial waters then we will redeploy [our vessels]," Mr.
Aquino said. "If there is no presence of other vessels that might impinge on our
sovereignty, then there is no need to redeploy."INQUIRER FILE PHOTO]
MANILA, JULY 6, 2012 (PHILSTAR)
By Aurea Calica - President Aquino yesterday called on China to pull
out all its ships from Panatag (Scarborough) Shoal as he assailed Beijing for
asking the Philippines to stop making provocative statements while itself
continuing to talk.
"It's not clear to me what provocative statements the Philippines or Filipino
officials have made. But we know that the other side has been saying a lot. So
maybe they should read first what have been written on their end and with all
due respect, maybe they can balance that with reality," Aquino said yesterday.

Malacañang also said that the redeployment of ships to Panatag Shoal, also
known as Bajo de Masinloc, would depend on the weather.
"There are many schools of thought on how to handle (or) how to deal with the
Chinese. So we will be getting, in effect, a discussion on the opposite points
of view on what is the best approach to settle this issue," Aquino noted.
As this developed, the Department of Foreign Affairs (DFA) summoned on
Wednesday China's top diplomat in the Philippines and gave her a note verbale
protesting Beijng's establishment of a new "prefectural-level" city of Sansha to
administer three disputed islands in the West Philippine Sea and future
development of the islands.
"The DFA sent a note verbale dated 28 June 2012 and handed this to Ambassador
Ma yesterday, protesting the establishment of Sansha City as the extent of the
jurisdiction of the city violates Philippine territorial sovereignty over the
Kalayaan Island Group (Spratlys) and Bajo de Masinloc and infringes on
Philippine sovereign rights over the waters and continental shelf of the West
Philippine Sea," Foreign Affairs spokesman Raul Hernandez said.
He pointed out "it was a diplomatic protest" since the declaration of the
establishment of Sansha City contradicts the spirit of the Declaration of
Conduct of Parties in the South China Sea and the non-aggression accord in 2002.

A senior security official also noted that China's latest move showed that it
has no respect towards its neighbors when it comes to peacefully settling
territorial disputes in the region.
"With the way Beijing is behaving, it only showed that they don't have any
respect towards its neighbors," the security official, who asked not be named,
said.
Contrary to Beijing's claim that the Philippines is plotting to further
increase the tension in the region, its present actions to bolster its
territorial claim of the entire South China Sea showed otherwise, the security
official said.
Earlier, presidential spokesman Edwin Lacierda said Chinese officials and the
state media were the ones who should be careful about issuing statements.
"Can I say to the Chinese 'xiao xin yi dian.' Be a little careful about your
statements," Lacierda said in reaction to a commentary in the People's Daily of
China, which admonished the Philippine government for its plan to ask the United
States to deploy spy planes over the West Philippine Sea to help monitor the
country's territorial waters.
Lacierda stressed the Philippines has the right to explore all options in
safeguarding its territorial waters, including seeking help from the US.
He added that the request should be viewed in the context of the defense
cooperation between the Philippines and the US.
"So there's no issue to us. We do not view it as a provocative statement,"
Lacierda said. "And as the President said, by no stretch of the imagination can
you consider the Philippines as an aggressor."
Defending Kalayaan

[PHOTO -(AFP/File) - Mayor Eugenio Bito-onon points to a map showing
the island of Kalayaan, which means "Freedom" in the Filipino language, created
in 1978 to assert the Philippines' claim to the disputed territory in the
Spratlys. For the few dozen Filipinos living on a remote speck of contested land
in the South China Sea, each day is a battle against loneliness but also a love
affair with nature.(AFP/File/Noel Celis)]
Meanwhile, Kalayaan, Palawan Mayor Eugenio Bito-onon said his civilian
constituents in the Spratly region are not disturbed by China's current
aggression.
"We are not disturbed at all," Bito-onon said, adding that aside from the
Philippines, China has also to deal with other Spratlys claimant countries if
Beijing so decides to settle the territorial dispute by force.
Western Command (Wescom) commander Lt. Gen. Juancho Sabban also vowed that
they would defend at all costs Kalayaan municipality.
"We will keep on doing our duty, prepare for any contingency and let our
leaders do the high level solutions. Kalayaan municipality is ours. We will
defend it," Sabban said.
Wescom, a composite military unit of the Armed Forces of the Philippines
(AFP), has operational jurisdictions over the Kalayaan Island Group (KIG) and
has forward troops deployed in the region.
The Philippines and China are currently locked in a territorial dispute not
only in Panatag Shoal but also in the Spratly region, which is also being
claimed in whole or in part by Vietnam, Malaysia, Taiwan and Brunei.
The Spratly archipelago is a chain of islets, reefs, atolls and sand bars
straddling the South China Sea, which is believed to be rich in mineral and fuel
deposits.
Panatag Shoal is located 124 nautical miles from Zambales Province and is
within the Philippines' 200-nautical mile exclusive economic zone (EEZ) and
continental shelf.
China stands on a historical claim while the Philippines has taken the view
that Beijing's claim is not supported by the United Nations Convention on the
Law of the Sea (UNCLOS) - With Pia Lee-Brago, Jaime Laude,
AP



Chief News Editor: Sol Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE NEWS ONLINE
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PHNO-HL: PNoy BULLISH ON PH ECONOMY / STOCKS, PESO CLIMB AFTER S&P UPGRADE

PNoy BULLISH ON PH ECONOMY / STOCKS, PESO CLIMB
AFTER S&P UPGRADE
[PHOTO
-President Aquino(second from
left) at a luncheon conference with Philippine businessmen at Malacañang
presidential palace in Manila on September 17, 2010, together with Finance
Secretary Cesar Purisima (right). According to the head of the Makati Business
Club, Filipino business executives are more upbeat about the country's economic
prospects in 2012, with about 81 of them expecting to see higher investments
approved by investment promotion agencies this year. AFP
PHOTO/JAY DIRECTO]
MANILA, JULY 6, 2012 (INQUIRER) By:
Daxim L. Lucas - Philippine execs turn more bullish on economy MBC says
expectations buoyed by impeachment.
Filipino business executives have turned more upbeat about the country's
economic prospects this year and, according to the head of the Makati Business
Club, the Aquino administration's drive to impeach Chief Justice Renato Corona
has contributed largely to it.
In its biannual Executive Outlook Survey, the umbrella organization of the
country's biggest corporations, said that eight out of 10 senior business
executives believed that gross domestic product growth would be better this
year.
This view offers little surprise since the local economy grew by only 3.7
percent in 2011 due to the government's decision to tighten its purse strings as
it sought to clean up processes it said were prone to corruption.
"What we're seeing here really is a surge in confidence in the business
community and this is due to a large degree to the impeachment trial," MBC
chairman Ramon del Rosario Jr., a staunch supporter of President Aquino, said in
an interview with the Inquirer.
"What we really want to see is for people in government to be made
accountable, and I think we're seeing that now," he noted, adding that the
impeachment trial—though poorly executed by the House prosecution team—was "an
important first step" toward making the country experience inclusive economic
growth.
The MBC—formed in the early 1980s at the height of power of the Marcos
regime—has been a staunch backer of President Aquino and has cheered his
administration's decision to impeach the Supreme Court chief, an appointee of
former President Arroyo.
According to the MBC, about 81 percent of polled business executives also
expected to see higher investments approved by the country's investment
promotion agencies this year, compared to the P757.3 billon registered last
year.
"Businesses are more bullish now compared to the 76.1 percent of respondents
who expected higher investments in 2011," the group's paper said.
The MBC pointed out, however, that business sentiment in terms of exports—the
country's main source of foreign currency along with remittances from overseas
Filipinos—was dampened by the 6.9-percent drop in merchandise exports to $48
billion in 2011.
"Almost 41 percent of respondents believe exports will remain at the same
levels in 2012 as the previous year," it said.
More importantly, however, the MBC survey showed that more firms were on
"hiring mode" this year, with 61.3 percent of respondents planning to expand the
size of their workforce, compared to only 37.3 percent of respondents in 2011.

More companies also plan to make additional investments in 2012 as 63.4
percent of respondents' plan to make more investments compared to only 56.7
percent in 2011.
FROM MANILA BULLETIN
Stocks Climb, Peso Gains Further After Ratings Upgrade By
S&P's By IAN C. SAYSON and LILIAN KARUNUNGAN/Bloomberg July 5,
2012, 4:54pm
MANILA, Philippines – Philippine stocks, the peso and bonds gained after the
nation's debt rating was raised to its highest level since 2003 by Standard
& Poor's.
The benchmark Philippine Stock Exchange Index advanced 15.26 points or 0.29
percent to a new record high of 5,369.98 at the close of trading yesterday,
extending this year's gain to 23 percent. A total of 2.41 billion shares valued
at 5.196 billion changed hands with 91 issues gaining, 59 declining and 50
unchanged.
The peso climbed 0.4 percent to P41.69 per dollar, near a four-year high of
41.60. The long-term foreign currency-denominated debt ranking was increased one
level to BB+ from BB, S&P said in a statement yesterday. That's one step
below investment grade and on a par with neighboring Indonesia.
The endorsement will help President Benigno Aquino as he boosts government
spending to a record this year and seeks $16 billion of investment in roads,
bridges and airports to shield the economy from Europe's debt crisis.
"It's a confirmation of what the market expected," said Rajeev De Mello, the
Singapore-based head of Asian fixed-income assets at Schroder Investment
Management Ltd. "It would be positive for the currency as well as external and
domestic bonds."
The yield on the 4 percent dollar bond due January 2021 fell four basis
points, or 0.04 percentage point, to 2.78 percent, according to prices compiled
by Bloomberg. The notes gained for a seventh day. That on the 6.5 percent peso
bonds due April 2021 declined five basis points, or 0.05 percentage point, to
5.13 percent, according to Tradition Financial Services. The rate was the lowest
since March 12.
Trade and Industry Secretary Gregory L. Domingo said the upgrade in the
country's credit rating will have positive impact on both the fiscal deficit and
foreign direct investments.
"Our interest cost for the government should go lower for future funding
requirements. Our attractiveness as an investment destination also improves
significantly as this reaffirms the positive and growing momentum that d country
is experiencing as a result of the good governance and inclusive growth agenda
of President Aquino," Domingo said.
S&P's move follows that of Moody's Investors Service which upgraded the
nation's rating outlook in May to positive, citing improving debt levels.
Moody's still ranks the $200 billion economy at the second-highest junk level.
Fitch Ratings raised its assessment to one step below investment grade last
year.
"We can now clearly make our case for an investment grade status," Finance
Secretary Cesar Purisima said yesterday.
The cost of insuring Philippine debt against default dropped four basis
points to 149.8 basis points yesterday, a seventh day of decline, according to
data provider CMA. The contracts pay the buyer face value in exchange for the
underlying securities or the cash equivalent should a nation or company fail to
adhere to its debt agreements.
Bank of Tokyo-Mitsubishi Ltd. forecasts the peso will drop to 42.00 per
dollar in one month, 42.40 in three months and 42.80 in six months.
"At such levels, and in the midst of a slow moving global economic cycle,
we're reluctant to shift our forecasts of the peso too strongly," Leong Sook
Mei, Singapore-based regional head of global currency research at Bank of
Tokyo-Mitsubishi UFJ Ltd., wrote in a research note today. "Official rhetoric is
coming in more cautious."
The peso is up about 5 percent against the dollar in 2012, the best performer
in a basket of 11 major Asian currencies tracked by Bloomberg. Central bank
Governor Amando Tetangco said on July 4 that the monetary authority is "watchful
for signs the speculative part is not overtaking the fundamental flows."
Aquino plans to narrow the budget shortfall to 2 percent of gross domestic
product by 2013 from a target of 2.6 percent this year. The government has
stepped up efforts to catch tax evaders and smugglers, and has drawn up bills
aimed at increasing revenue to narrow the fiscal deficit. The $200 billion
economy grew 6.4 percent in the first quarter, the fastest pace since 2010.
Aquino is aiming for an expansion of as much as 8 percent annually to cut
poverty.
S&P's move is "very positive because it promotes the country's
macroeconomic and fiscal context," said Fitz Aclan, who helps manage P850
billion ($20.4 billion) at Manila- based BDO Unibank Inc. "There could be some
upward movement for our sovereign bonds, even our local bonds. This will also be
positive for equities."



Chief News Editor: Sol Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE NEWS ONLINE
All
rights reserved




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PHNO PESO CURRENCY EXCHANGE FRIDAY JULY 6, 2012

 

PHNO PESO CURRENCY EXCHANGE
FRIDAY JULY 6, 2012 www.yahoo.com/finance P1=US41.71,Can41.40,UK64.76,SA11.12,YEN 0.52, HK5.37, EUR51.67 ------------------------------------------30---------------------------------

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PHNO-OPINIOBN: MANILA STANDARD: 2 WASTED YEARS

MANILA STANDARD: 2 WASTED
YEARS

MANILA, JULY 3, 2012 (MANILA STANDARD) By Manila Standard
Today - With little fanfare—or concrete achievement—President Benigno Aquino III
marked his second year in office.
Befitting this lack of accomplishment, there were no activities to
mark the milestone, no meetings to assess what had gone before and what more
needs to be done.

Of course, the President will trumpet his "achievements" at the yearly
State-of-the-Nation Address later this month, focusing on "genuine and
meaningful change" under his "straight path" policy, a Palace spokesman said
over the weekend.
To this list, the President will indubitably add the ouster of the chief
justice—whose main sin was the Palace perception that he was too close to the
former President, whom Mr. Aquino has managed to detain under house arrest—to
his other major accomplishment to date.
The chief justice's other great sin was the temerity to stand up to the
President, exhibiting a type of judicial independence that Mr. Aquino clearly
will not brook. From this perspective, Mr. Aquino's great achievement has been
to place an erstwhile equal branch of government under the Executive's thumb.

There have been other minor "achievements," none of which has truly moved
this nation toward economic development.
First, there has been the mindboggling expansion of a dole program for the
poor that essentially uses taxpayer contributions to reward people for not
working. Under Mr. Aquino's watch, the conditional cash transfer program has
ballooned from only P10 billion in 2010 to P21 billion in 2011 and to P34
billion in 2012. If the rubberstamp Congress behaves according to its craven
pattern, this will rise to P45 billion in 2013.
But even the administration's leftist allies have attacked the program for
turning this country into a "Republic of Mendicants and Beggars" by mobilizing
hardearned taxpayers' money into a national charity fund instead of creating
jobs, implementing social justice driven by land reform, and providing the
country the much needed resources for education, social services and mass
housing.
In his last two years in offi ce, Mr. Aquino has also successfully soured the
country's relations with China, a major trading partner, first by ignoring its
calls for justice during the embarrassing Luneta hostage crisis in which eight
Chinese tourists were killed as a result of official police bungling, and then
by acting belligerently in the disputed West Philippine Sea, with no resources
to back his tough talk.
Of course, the President will also point to the latest 6.4 percent growth in
the gross domestic product without mentioning that it comes in the wake of four
consecutive quarters of lackluster performance, or the fact that in the last two
years, the administration has done so little to lay the basic infrastructure for
growth.
The Burmese Nobel Peace Prize laureate Aung San Suu Kyi, who lived under
house arrest for almost 15 years from 1989 to 2010, was recently asked if she
could forgive the military leaders who were responsible for her incarceration.
Her reply was clear and simple: in its post-authoritarian future, her country
needed to focus on "restorative" rather than "retributive" justice.
Sadly, Mr. Aquino, who has suffered no such abuse in his own unremarkable
career, seems to be going the other way, forgoing honest-to-goodness efforts to
rebuild the country for a singleminded campaign to repay old political debts.

No wonder we have little to show after two years.



Chief News Editor: Sol Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE NEWS ONLINE
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rights reserved




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PHNO-BOOK REVIEWS: BREAKOUT NATIONS: PHILIPPINES TO BE A TIGER ECONOMY

BOOK REVIEWS: BREAKOUT
NATIONS: PHILIPPINES TO BE A TIGER ECONOMY

MANILA, JULY
3, 2012 (SUN STAR ONLINE) A NEW
book tracking the progress of developing countries sees the Philippines joining
an elite group of "tiger economies" in the world as a result of reforms and
strong leadership of President Benigno Aquino III, Malacanang said on Saturday.

The book "Breakout Nations: In Pursuit of the Next Economic Miracles,"
written by Ruchir Sharma, assessed the Philippines as one of the strongest
emerging economies in the future where enhanced economic activities are to take
place.
"Now at long last, the Philippines looks poised to resume a period of strong
growth. The new President, Benigno 'Noynoy' Aquino III, probably has enough
support, and looks likely to generate just enough reform momentum, to get the
job done. The Aquino name is still virtually synonymous with the promise of
change," Sharma wrote.
Sharma, one of the world's largest investors in emerging markets for Morgan
Stanley, said Filipinos saw Aquino as an honest figure who could deliver on the
Aquino mandate for change and that the public was desperate after nine years of
drift and decay under former President Gloria Macapagal-Arroyo.
Aquino won the presidency at a time when it seemed that the whole country was
in disrepair, he said, adding the President is delegating power to competent
technocrats and seems to understand what needs to be done to get the country
move forward.
In a recent Wall Street Journal report, the publication sees the Philippines
having clear signs of being seen as one of the most resilient economies in a
troubled global economy particularly as a result of the European crisis.
In a supplement entitled "Asia's Euro Risk: How Asia Will Fare if Europe
Cracks?," the Wall Street Journal said only four economies were projected to
have the strength to weather a European economic and financial crisis, namely
Australia, China, Indonesia and the Philippines.
While other countries bear the brunt of the European fall out, these
countries have deep government pockets that provide a buffer to economic shocks,
the publication said.
"The Philippines is better prepared than in the past to withstand a downturn
with a stronger government balance sheet and a robust domestic economy. Foreign
reserves are high enough to fight capital flight," according to WSJ's brief
assessment of the Philippines.
Singapore, Malaysia, Thailand and Vietnam are among the Southeast Asian
countries affected by a euro meltdown because of their high dependencies on
European trade and greater exposure to European banks, WSJ said.
The Philippines had the second highest per capita income in Asia during the
1960s, next only to Japan. In the 1970s, South Korea and Taiwan overtook the
Philippines in terms of per capita income. Other Asian neighbors like Malaysia,
Thailand, China and Indonesia followed during the succeeding decades. (SDR/Sunnex)
BLOG WATCH: BOOK REVIEW OF BREAKOUT
NATIONS
Breakout Nations by Ruchir Sharma
(photo) is based on two strong arguments:
1. The era of easy money and easy growth is over.
2. The rapid growth of emerging countries is not going to continue.
As the head of emerging market equities and global macro at Morgan Stanley
Investment Management, Ruchir seems to be the best person to lay out these
contrarian arguments. Ruchir does not take the garb of a clairvoyant, but
carefully builds up the case with sufficient data and experiences. Any forecast
about global growth de-alienating India and China should be carefully thought
out to appear credible. This is exactly where Ruchir scores.
Ruchir has adopted an interesting way to make his statements convincing to
the reader. He relies on certain sets of data (like the current per-capita
income, demographics etc), a set of observations (like overspending by people,
traffic situation in the cities etc) and calibrates them with commonsense to
make some sound judgments. The book leverages his day job as an investor looking
closely at various nations.
Ruchir is used to spending a week per month in the countries under discussion
to get the pulse. He relies heavily on his travels mostly by road in these
places, his interactions with locals and underlines the importance of these to
see beyond the Excel spreadsheets.
Breakout Nations says that there is no magic formula or potion that
guarantees growth. However, free market flow of goods, money, people, visionary
and committed leadership, banks channeling money to enhance productivity, better
roads, and better schools among others serve as essential ingredients to
continued success. It is also essential to understand the interplay of economic
and political forces. In the same breath, he says that it is fallacy that a
particular type of government (democracy, communist, authoritarian etc) can
ensure sustained economic progress. It is the leadership which matters.
Ruchir's explanations are very lucid and logical. Analytical data is
presented to substantiate his statements. Examples are reeled out to further
elaborate points. Ruchir does comparisons with various parameters with a keen
eye to make the context clear to the reader. The Breakout Nations as per him are
Czech Republic, Turkey, South Korea, Nigeria, Indonesia and the nations in East
Africa. He dives deep to give his readers, the on the ground account of these
countries. He compares and contrasts these countries amongst their peer
countries and the economists' favorites – India, China, Brazil etc.
The author very elegantly handles this otherwise pedantic topic. Hence, the
book appeals to the layman and to the economic analyst alike. He carefully
dethrones several myths we have, thanks to various media who do not bother to go
beyond the surface. He clearly deduces facts based on which he identifies the
star nations of tomorrow, than singing paeans to the media hyped emerging
nations of the world. Very convincingly, he explains why there exists
exorbitantly high room rates and high affinity to luxurious lifestyle by the
rich in Russia, ratio of billionaires to millionaires in countries, share of
manufacturing in GDP of a country, are pointers to their future. In short, he
provides the readers with a keen eye to detail when we want to decide where to
invest.
Ruchir also revels in some beautiful prose. Innovative use of words (eg.
efficient corruption, creative destruction), titles of chapters, proverbs, and
quotes all help to keep you riveted to the book. It was not like reading
research findings. As another reviewer pointed out, this book is a business
travelogue.
Ruchir ends the book strongly with a Latin proverb, "If there is no wind,
row". In his own words "No nation can hope to grow as a free rider on the
tailwinds of fortuitous global circumstance, as so many have in last decade.
They will have to propel their own weight…."
In short, Breakout Nations defies conventional wisdom and the author does not
follow the beaten path. He finds healthy economics behind the dull architecture
in Poland and believes a leader who gets economy right can get away with almost
anything in politics.
This book is for those who love to find aesthetics in numbers, for those who
don't get enticed by just the bust-waist-hip numbers as they don't guarantee
fertility.



Chief News Editor: Sol Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE NEWS ONLINE
All
rights reserved




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HEADLINE NEWS ONLINE [PHNO] WEBSITE



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PHNO-OPINION: BULLETIN: POPULATION AND THE PRESIDENT's 3rd SONA

BULLETIN: POPULATION AND THE PRESIDENT's 3rd
SONA

MANILA, JULY 3, 2012
(BULLETIN) Chaff from the Grain By FORMER PRESS SECRETARY
HECTOR R.R. VILLANUEVA - ("Success is relative: It
is what we can make of the mess we have made of things." — T.S. Eliot)
When we stand too close to the trees, we cannot see the forest, and
beyond.
When we get mired in the humdrum business of daily living, mundane
matters, parochial concerns, obsessive politics, and materialist motives, the
pursuit of vision and glory, which every nation and people aspire for, tends to
fade away into the backburner consciousness of people.
Be that as it may, as President Benigno Simeon Aquino III delivers
his Third SONA on his accomplishments in the last two years focusing on his
triumph against corruption with the impeachment and ouster of Chief Justice
Renato Corona and the detention of former President Gloria Arroyo, higher GDP
and impressive agricultural gains made, President Aquino is reminded that the
Philippines can be the idyllic and a better place to live in, and assuredly more
fun if only there were not so many underage, underfed, uneducated, and
unemployed Filipinos.
It can be surmised that the achievements of the administration, according to
President Aquino, such as the poverty-mitigating Conditional Cash Transfer (CCT)
scheme, the campaign against smugglers and tax evaders, PNP's claim of lower
crime index, increasing foreign investments, enhanced public works activities,
and work-in-progress on the peace negotiations with Islamist and communist
insurgents, are credible and validated.
On the other hand, these accomplishments must be taken pari-passu (sic:
without partiality) in the context of television's constant assault on the
senses with the escalating culture of violence, kidnapping, carnapping, human
trafficking, drug addiction, mounting HIV cases, robberies, and crimes against
property.
In both circumstances – positive government accomplishments and
deteriorating law and order environment – the common thread is the burgeoning
population explosion that has ballooned from under 20 million 50 years ago to 90
million, and counting.
The finger of suspicion and malaise narrows down to population congestion.

Meanwhile in the process of feeding and employing this growing demographic
crisis, the pristine rain forests are gone, the lovely coral reefs are dead, and
the marine aquatic resources and fishing grounds are depleted.
Hence, unabated population growth is the common malaise of the many problems
facing the nation.
As noted, countries, whether with large landmass or modest manageable
population, such as Thailand, Malaysia, Taiwan, South Korea, Hong Kong,
Singapore, Vietnam, and others have all succeeded in containing or decelerating
their population growth and birth rate, except the Philippines.
The passage of the RH Bill into law is a good start.
The passage of the reproductive health bill will not only be a lasting legacy
of President Benigno Aquino but will also be a historic breakthrough in the
secularization of the State from the influence of religious groups.
Moreover, a declining population will restore the equilibrium between what we
are capable of producing, and what we reproduce.
The RH bill is a conflict between modernism and medieval religious hangovers.

You be the judge



Chief News Editor: Sol Jose Vanzi
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PHNO-OPINION: DUCKY PAREDES: BSP LOAN TO IMF EXPLAINED; PH AS CREDITOR INACCURATE

DUCKY PAREDES: BSP LOAN TO IMF EXPLAINED; PH AS
CREDITOR INACCURATE

MANILA, JULY 3, 2012 (MALAYA) Written by DUCKY PAREDES
(photo) ( 'The Philippines and the national government remain deeply
indebted despite the US$1-billion loan extended by the country to the
International Monetary Fund (IMF).' )
I AM glad to use this explanation from IBON Foundation, Inc. an independent
development institution established in 1978 that provides research, education,
publications, information work and advocacy support on socioeconomic issues. We
have been hearing all sorts of opinions on the announcement that the Philippines
lent a billion dollars to the IMF, as if this was big news. It is not.
The silliest reactions were those that suggest that if we had that kind of
money lying around, we would be better off distributing the cash to so many of
our people who are poor. We could buy them food, build roads, school rooms and
so on; as if money served no other purpose than for it to be spent -- the
classic thinking of spendthrifts.
Here is IBON's take:
"The Philippines and the national government remain deeply indebted despite
the US$1-billion loan extended by the country to the International Monetary Fund
(IMF). Statements including from Malacañang that the country is a "creditor
nation" are inaccurate, public relations spin and distract from the reality of
continuing underdevelopment and debt-dependence.
"The country's external debt still totaled US$62.9 billion as of March 2012 –
US$79.1 billion if other debt monitored by the Bangko Sentral ng Pilipinas (BSP)
but relegated to a footnote are included. Up to 77% of this, or US$48.3 billion,
is owed by the government including the BSP. And while the country stopped being
a net borrower from the IMF in 2006, it still has US$11.7 billion in
multilateral debt including US$3.3 billion to the World Bank (WB) and US$6.0
billion to the Asian Development Bank (ADB).
"Outstanding national government (NG) debt meanwhile has reached Php5.1
trillion as of April 2012 and Php2.1 trillion of this, or 41% of the total, is
foreign debt. This huge debt is among the reasons why debt service takes is
chronically the single largest expense of the government, for instance reaching
Php738.6 billion in interest and principal payments just in 2012.
"Government may have wanted to give the impression that the Philippines is
now able to lend the IMF US$1 billion because of its sound management of
government finances and of the economy. However the international reserves are
not really funds that the government has earned and can lend or spend in the
same way as, for instance, its projected Php1.6 trillion in revenues for 2012.
The international reserves are foreign exchange assets accumulated by the
economy from various foreign exchange inflows, but which are not like money held
by the treasury.
"The Philippines has actually been lending to the IMF for decades now with an
interest-earning reserve position that, for instance, rose from US$113.4 million
in 2000 to US$516.83 million in May 2012. There has likewise been billions of
dollars in other lending to foreign entities. The BSP has long had
interest-earning deposits in foreign banks and held interest-earning foreign
securities including from the United States (US). This lending rose from US$12.4
billion in 2000 to US$64.1 billion in May 2012.
"These have sensibly not been played up in the past because such "lending" of
foreign exchange is normal occurrences in the management of any country's
international reserves and are not equivalent to lending of surplus government
cash. The recent hype about "creditor nation" status then appears part of a
public relations campaign of a supposedly improving economy in the build-up to
the next State of the Nation Address (SONA) at the end of July."
***
This is a tempest in a teapot and those who show off by pointing out
alterative uses for the billion dollars only reveal their utter ignorance and
rank stupidity. As IBON points out, "The Philippines has actually been lending
to the IMF for decades now with an interest-earning reserve position . . ." So,
this is actually nothing to marvel at or something that anyone needs to
investigate. It is an ordinary thing that the country has been doing no matter
who has been in charge. Why the big fuss, then? Probably someone who did not
know any better thought to tell the world something that the rest of the world
had always known.
A country, like any enterprise has different kinds of moneys. Earnings from
taxes, operations and borrowings go into the government's budget and are
assigned by Congress in the national budget to be spent; and there is also money
that is kept as a reserve or, as in a commercial enterprise, as stockholders'
equity or capital.
Imagine if we allowed ourselves to spend all of our money, including the
paint collection of the Bangko Sentral and all of our gold hoard, who would then
still accept the Philippine peso as a currency with any worth to it? We need
that money that is in the vaults of the BSP to earn. This is why we lend to the
IMF because the IMF will surely pay us back. It is a lending without any
risks.


Chief News Editor: Sol Jose Vanzi
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PHNO-OPINION: CAROL P. ARAULLO BLOG: CLAIMING FALSE CREDIT

CAROL P. ARAULLO BLOG: CLAIMING FALSE
CREDIT

MANILA, JULY 3, 2012
(PHNO BLOG WATCH) BY Dr. Carol P. Araullo
(photo) Blog (Streetwise: Progressive views on Philippine and
international issues published in BusinessWorld, the Philippines' leading
business newspaper, and more.)
You know something is terribly wrong with the Philippine economy when
Malacañang and the Bangko Sentral ng Pilipinas (BSP) boast of our being
"international creditors" for the first time, and attribute this to "sound
fundamentals and management" of the economy.
They try to conjure the illusion that the country is now awash with so much
cash that it can afford to contribute a billion dollars to an international fund
managed by the International Monetary Fund (IMF) to succor European countries in
financial distress.
And, as if that were not enough good news, they add that Filipinos need not
worry about losing so much money; in fact we stand to gain more from interest,
since the contribution is in fact a loan. What the government is not telling us
is that the Philippines has been classified as an "IMF creditor" by virtue of a
narrow technical definition that an IMF member has a "creditor position" if its
holdings in the Fund can be used to provide financial assistance to other
members.
But this is vastly different from jumping to the conclusion that the
Philippines has actually become a "creditor nation".
Determining whether one is a "net creditor" entails comparing the country's
lending with its borrowing. Foreign exchange reserves, no matter how high, are
not the measure for this. If positive reserves were the criterion, then the
Philippines could claim to have achieved the status of a "creditor nation" since
the time of the Marcos martial law years when our external debt was growing by
leaps and bounds.
Nothing has changed even with the label "IMF creditor" attached to the
Philippines. We remain a heavily indebted nation (US$61.7 billion as of end
2011); highly dependent on foreign sources of financing primarily to shore up
the budget deficit averaging some P300 billion a year. Debt service payments
grew by US$ 100 million to US$7.3 billion last year.
It must be clarified at this point that the Gross International Reserves
(GIR) held by the BSP is in the form of IMF deposits, other foreign currency
deposits elsewhere, gold, Special Drawing Rights (SDR), US Treasury bills and
the like. It is from the deposit of the Philippines/BSP with the IMF (also
called "IMF reserve position") that the US$1 billion has been made available for
loan to EU countries in deep financial crisis.
While it is true that these transactions earn interest and the funds can
still be technically counted as part of the Philippines' international reserves,
a point can be raised about how much the country is losing in terms of lower
interest on the IMF loan as compared to other placements with potentially higher
yields.
Progressive party list representatives, trade union and peasant leaders - all
opponents of government's prioritization of debt servicing over social services
- as well as two Senators and several opinion writers have asked how the BSP
(and the Aquino government for that matter) could have the effrontery to "lend"
money to the international lender-of-last-resort that is the IMF when the
country remains a perennial heavy borrower itself.
These critics ask pointedly whether the money - P43 billion - could be better
spent on health, housing, and education for impoverished and barely surviving
Filipino families; for land reform and support for an agricultural sector in
continuing decline; for job generation as well as infusing life into an anemic
economy battered by heightened domestic and global economic crises. In other
words, for the government to come to the aid of the majority of the Philippine
population rather than contribute to an IMF bail-out fund for heavily indebted
countries in the Euro zone.
Again, what the government is not telling us is that the Gross International
Reserves (GIR) from which the loan came, and which the BSP boasts to have
reached a record high of USD 76.534B, consists of foreign assets that cannot be
used in the same way as the National Government fund.
That is, the GIR may not be allocated for regular government programs and
projects in order for it to serve three functions: for intervention in the
foreign exchange market, for creditworthiness, and for emergencies. A country's
GIR indicates its ability to repay foreign debt and to defend its currency from
speculative attack. It is used as a yardstick to set the country's credit
ratings.
So why is the Aquino government foisting the false impression on the public
that the BSP has so much money in its vaults that could be made available to the
government to uplift the people's dire socio-economic conditions?
Unfortunately, we can only come up with the conclusion that government needs
to justify the BSP's accession that the country contribute to the IMF bail-out
fund by (1) claiming that the economy is so robust and well-managed that the
Philippines can now boast of being in a position to lend to other countries and
(2) arguing that the loan is a worthwhile humanitarian investment and
demonstrates the Philippines' sense of responsibility to the international
community.
Moreover, the announcement of BSP Governor Tetangco raises even more
questions: 1. Does the BSP have a free rein on handling/managing the entire GIR?
What check-and-balance is in place to ascertain that the GIR is being managed
properly? Who decides, for example, and how, on the investments and loans being
entered into by the BSP from the GIR? Does this not, after all, belong to the
Filipino people as much as the national funds which only Congress can decide to
apportion?
2. Was the loan voluntary or mandatory? While the BSP statement implies that
the loan was voluntary and undertaken as a contribution to the IMF's efforts "to
address the current financial crisis" and "help other countries saddled with
financial problems", it is not farfetched that the loan is in fact obligatory
or, at the least, is being given under pressure, considering that the Philippine
economy continues to be quite dependent on the good graces of international
financial institutions such as the IMF and World Bank.
3. Finally, will the IMF fund to which the Filipino people have been made to
contribute USD 1B, really be used for the benefit of the people of the
distressed countries in the Euro zone? Or will it again, like the trillions of
stimulus funds, be used to bail out big banks and monopoly conglomerates that
caused the financial crisis in the first place, or to pressure governments in
distressed countries to follow IMF-dictated policies that will only benefit such
big banks and conglomerates? Has not the IMF and WB been the main instruments,
in the first place, in carrying out the neoliberal policies that have brought
about the global financial and economic crisis?
All said, a closer and more critical look must be taken into the management
not only of the country's financial resources, but also of the so-called
economic "fundamentals" -- the neoliberal framework on which the policies and
decisions by the BSP and economic managers are anchored.
For the grandiose claims that the country is finally free from foreign
impositions and restrictions after having exited from the IMF Post-Program
Monitoring Arrangement (when the BSP prepaid all Philippine outstanding debts
from the IMF in 2006) are now matched by stupendous claims that we are, at long
last, a "creditor nation". # Published in Business World
29-30 June 2012


Chief News Editor: Sol Jose Vanzi
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PHNO-BE: PLDT'S MVP EXPANDS HIS EMPIRE

PLDT'S MVP EXPANDS HIS EMPIRE

MANILA, JULY 3, 2012 (STANDARD) By Lailany P.
Gomez - When Manuel V. Pangilinan (photo) walks into the ballroom of the
JW Marriott Hotel in Hong Kong to address a group of financial executives during
a recent regional conference, everyone turns attentive, anticipating with
excitement what the top Filipino executive of First Pacific's business empire
has to say.
Pangilinan, the managing director and chief executive of the Hong Kong-based
First Pacific, is straightforward in his speech, giving participants of the
Earth's Resources Conference insights on how he runs his businesses and his
vision for the future.
"Wherever we do invest, we insist on achieving control, or at the very least,
significant influence. Our job at First Pacific is to generate cash flow up to
head office," Pangilinan says, summing up his business philosophy that enabled
First Pacific to post a net profit of $600 million in 2011 and expand in new
areas in the Philippines.
First Pacific, although operating from its headquarters in Hong Kong,
exercises vast economic influence in the Philippines and Indonesia. It has
management control of Philippine Long Distance Telephone Co., which has ten
times more SIM cards on its network than there are people in Hong Kong, as well
as other major corporations in the Philippines.
Although Forbes magazine failed to include him in its list of 40 richest
Filipinos, Pangilinan, known in the business and media circles as MVP, is easily
the most influential Filipino businessman, who moves stock markets with a simple
quip, jolts political alliance with TV ad placements and is a force in the
sports and entertainment industries.
MVP Olympics
The 65-year-old Pampanga native, who engages Filipino-Chinese taipans and
Filipino-Spanish magnates either in joint ventures or competition, is a living
testament that Filipinos can run a business.
And what a business the MVP empire is. His First Pacific Group controls at
least 17 of the largest corporations in the Philippines, with total market
capitalization of over P1 trillion. These companies are so huge they hold their
own annual Olympics aptly called MVP Olympics.
The five largest corporations he manages as chairman have combined annual
sales equivalent to nearly 5 percent of the country's gross domestic product.

In the Philippines, the MVP empire owns stakes in the largest corporation by
market value (PLDT), controls power and water distribution, operates the largest
hospitals, runs the longest expressways, mines the largest gold deposits,
dominates mobile, broadcast and Internet services, secures the largest
outsourcing contracts, and explores what can be the largest natural gas field.
It also plans to venture to railways, port and airport operation soon.
Five of the largest companies he manages as chairman—PLDT, Manila Electric
Co., Maynilad Water Services Inc., Philex Mining Corp. and Metro Pacific
Investment Corp.—reported a combined profit of P61.8 billion in 2011 and total
revenues of P462 billion.
Those revenues represented 4.8 percent of the Philippine gross domestic
product estimated at P9.7 trillion in 2011.
Pangilinan says First Pacific is very keen on growing its business in the
Philippines, particularly the mining and agriculture sectors. "Of the four areas
of the economy where we feel we have some advantage of experience or strength,
we are very excited about the opportunities in natural resources, particularly
mining but also in plantations, whether they be oil palms or sugar or even
bananas," he says.
He is confident about mining, because of rising global demand for minerals.
First Pacific-controlled Philex Mining Corp., the Philippines' top producer of
gold and copper, in fact looks at three possible acquisitions in Southeast Asia
to sustain profitability.
Pangilinan sees Philex Mining posting a fourfold increase in ore production
over the medium term. Philex operates the Padcal mine in Benguet, producing
about 25,000 metric tons of ore a day. Its Silangan project in Mindanao targets
to produce about 35,000 tons a day.
Asian expansion
First Pacific's investments are presently concentrated in two countries, with
70 percent in the Philippines and the rest in Indonesia. Pangilinan says the
conglomerate is now looking at the potential of Myanmar, Vietnam, Malaysia and
other Southeast Asian countries.
Pangilinan says First Pacific will stick to emerging markets, where it has
thrived amid faster economic growth. "In a mature economy, you don't see the
kind of growth you get in less wealthy countries. China has been able to grow at
10 percent a year for the past several years precisely because it began from
such a low base. A big, wealthy economy is very unlikely to match that. For us,
it's simply that the opportunities in emerging markets are so much greater than
in mature markets. And we've been there for many years. Emerging markets are
familiar to us. They are home," says Pangilinan.
First Pacific group, through the publicly-listed Metro Pacific Investment
Corp., also considers investing in airports, light rail, electricity generation
and plantations.
Pangilinan says the conglomerate looks at developing the former Clark air
base into a secondary international hub because it has a longer runway which can
accommodate heavier and larger airlines that the Ninoy Aquino International
Airport cannot.
"We like the idea of investing in airports for the same reason that we like
emerging markets and we like infrastructure: for growth. Anyone who flies to
Manila is familiar with the delays, discomfort and inefficiencies of the main
airport," he says.
Light rail is another area of infrastructure in need of investment, he says.
Metro Pacific and the Ayala Group have recently formed a joint-venture firm that
would pursue the expansion of the country's light railway system.
In control
While exploring other opportunities, PLDT remains the crown jewel of the MVP
business empire and continues to deliver cash for the Salim family, the
Indonesian top shareholders of First Pacific.
"It's no secret that PLDT's dividend payout has been 100 percent of core
profit for the past five years running. I don't see that stopping soon. Why am I
so confident? Because of our insistence on significant influence or control,"
says Pangilinan.
Pangilinan says without control or influence, he cannot be confident about
the company's dividend flow. First Pacific's dividend income reached $322
million in 2011, the highest it has ever been.
"And when I look ahead over the next few years, I see continuing strong
growth. This is vital for returning value to our shareholders whether it be via
share price appreciation or dividend payouts of our own. I won't be confident in
our growing dividend income if we aren't in control of it," he says.


Chief News Editor: Sol Jose Vanzi
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PHNO-SB: KRIS AND CHIZ, CHIZ AND HEART?

KRIS AND CHIZ, CHIZ AND HEART?

MANILA, JULY 3, 2012 (MALAYA) Written by ETHEL RAMOS . ('I
cannot imagine myself not facing the cameras for tv and the movies. Maski na
sabihing paminsan-minsan na lang. – Vilma Santos' )
[PHOTO - CHIZ & KRIS; CHIZ & HEART] Kris Aquino
and young actress Heart Evangelista both mark their birthdays on the same date:
February 14.
And guess what, too? They are currently being linked to the same person, Chiz
Escudero.
Kris and Senator Chiz are both estranged from their spouses. Unlike Kris,
though, whose marriage to cager James Yap has been annulled, Senator Chiz has
yet to have his marriage with the wife of more than 10 years, the former Tintin
Flores, declared null and void.
Heart, on the other hand, has just broken off from her Brazilian
hunk-boyfriend, Daniel Matsunaga.
With James, Kris has five year-old Bimby. She has an elder son, Joashua, now
16 with actor-politician Phillip Salvador.
Senator Chiz has twins with Tintin.
By the way, when Kris marked her first anniversary for her talk show, Kris
TV, on ABS CBN, she had Senator Chiz for special guest.
Senator Chiz was also Kris guest celebrity when Kris TV debuted last year.

***
Another celebrator is Batangas Governor Vilma Santos (photo),
who will likewise, observe this year her 50th anniversary in showbiz.
She was nine years old, Governor Vi recalled, when she first appeared in her
first movie, Trudis Liit, which Sampaguita Pictures produced and where she was
assigned to play the title role.
Henceforth, she, likewise, said that she has been working non-stop in
showbiz. "Maski, naman involved na ako sa pulitika," she related. "Ewan, ha, but
I cannot imagine myself not facing the cameras, for tv and the movies. Maski na
sabihing paminsan-minsan na lang.
"For always, I make it a point to call up Malou (Santos, managing director,
Star Cinema), once I feel na malilibre ako for a certain number of days in a
particular year of month, so she can prepare a project for me.
"And always, too, mas gusto niyang pelikula ang gawin ko."
"The story of The Healing," said director Chito Rono, "a horror-suspense
flick has been written for sometime.
"When Star Cinema requested me to direct it, I told them, I'd do it kung si
Governor Vi ang bida.
"It was a coincidence that they were looking for a project for her for her
anniversary showbiz offering. Hayan at pinabasa kaagad ni Malou kay Governor Vi
ang script ng The Healing.
"Before I knew it, we were shooting na for the movie."
***
Governor Vi describes The Healing as a totally new brand of horror-suspense,
as although it touches on the Filipino tradition of going to faith healers for
guidance and treatment of ailments and what have you, it is dealt with a new
approach and treatment by direk Chito.
"I have seen a number of movies of this genre handled as a director Chito,
pero, iba ang atake niya dito.
"After watching the rushes of the The Healing, I challenged anyone who will
watch it kung hindi siya maho-horrify. While at the same time, one is convinced
kung bakit ang faith healing is part of our culture and will remain so in the
many years to come," Governor Vi added.
***
Governor Vi is glad as well that she requested for young actress Kim Chiu to
be part of The Healing.
"Ang galling niya sa pelikula," Governor Vi said of Kim. "At napakabait pang
bata.
"Tinutukso ko nga siya na sana naging anak ko siya."
While she is grateful, Governor Vi specified, "for having two wonderful sons,
Luis and Ryan Christian, playing Mom to a daughter would have been an entirely
different journey. She believes, too, that both her boys would welcome having a
sister.
Kim, on her part, confessed that she felt uneasy, if not apprehensive, the
first time the two of them had to face the movie cameras together for the first
time. But both Governor Via and direk Chito both went out of their way to calm
her down, so she could do her part as naturally as possible.
To both Governor Vi and direk Chito, Kim said she cannot thank them enough.

Earmarked for a July 25 release in more than 100 theaters, The Healing also
stars Janice de Belen, Robert Arevalo, Mark Gil, Martin del Rosario, Allan
Paula, Cris Villanueva, Daria Ramirez, Ces Quesada, Ynes Veneracion, Carmi
Martin, and Pokwang.
FROM THE PHLSTAR
Escudero confirms annulment of marriage By Maila
Ager INQUIRER.net 8:45 am | Monday
MANILA, Philippines – Senator Francis "Chiz" Escudero admitted for
the first time that his marriage with estranged wife, Christine, has been
annulled.
Escudero categorically said 'yes' when asked by popular TV host Kris Aquino
during the latter's morning show aired over ABS-CBN on Monday if his marriage
had been annulled.
It was his ex-wife, who first spoke of the annulment in a column that
appeared in a broadsheet paper also on the same day.
The senator gave no further details about the annulment.
Escudero, still responding to Aquino's queries, admitted going out twice with
actress Heart Evangelista .
"We saw each other twice," he said but refused to call it a date as he
preferred to call it a 'meeting.'
Aquino said Escudero will be her co-host for the whole month of July.
FROM PINOY SHOWBIZ ONLINE
Heart Evangelista and Chiz Escudero Dating, Details Revealed
By Heart www.showbiznest.com

Heart Evangelista is truly so over Daniel Matsunaga. But does it mean she
already finds a way-better replacement in the arms of Senator Chiz Escudero who
has recently separated with wife Christine Elizabeth "Tintin" Flores?
The answer was revealed by Kapuso actress herself in her interview with
columnist Wilson Lee Flores which was published in The Philippine Star today,
June 3.
Although rumor has it that Heart and the Senator were seen going out on a
date right after the former's publicized separation with Brazilian model Daniel
Matsunaga, Heart was quick to deny that she is in a romantic relationship with
the Escudero.
"Our going to dinner doesn't mean we're romantically involved," she said.

Asked what they talked about over dinner, the actress said, "My God,
nothing…anything and everything under the sun."
Heart also pointed out that she's not yet interested to get into another
relationship right after his separation with Daniel.
"I don't want to think that way pa with anybody. At this point of my life,
I'd like to give myself a chance to be alone, to be independent."



Chief News Editor: Sol
Jose Vanzi

© Copyright, 2012 by PHILIPPINE
HEADLINE NEWS ONLINE
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PHNO-SB: SCIENTOLOGISTS 'CREEPY', TWTS MEDIA MOGUL ON TOM CRUISE & WIFE KATIE

SCIENTOLOGISTS 'CREEPY', TWTS MEDIA MOGUL ON TOM
CRUISE & WIFE KATIE

LOS ANGELES, JULY 3, 2012
(INQUIRER) Agence France-Presse - Media mogul Rupert Murdoch
weighed in on the Tom Cruise-Katie Holmes divorce story Sunday, saying he thinks
Scientologists are "creepy" and possibly even evil.
[PHOTO -In this Monday, March 28, 2011 file photo, cast member
Katie Holmes (right) and Tom Cruise arrive at the premiere of "The Kennedys" at
The Academy of Motion Pictures Arts and Sciences in Beverly Hills, Calif. Cruise
and Homes are calling it quits after five years of marriage. Holmes' attorney
Jonathan Wolfe said Friday June 29, 2012 that the couple is divorcing, but
called it a private matter for the family. AP/MATT
SAYLES]
The News Corporation chief urged his Twitter followers to watch the story,
which broke on Friday when Holmes announced she was filing from divorce from
Hollywood A-lister Cruise, a prominent member of the Church of Scientology.
"Watch Katie Holmes and Scientology story develop. Something creepy, maybe
even evil, about these people," Murdoch said on his Twitter account,
@rupertmurdoch.
The fairytale Hollywood couple's split was revealed when Holmes' publicist
announced that the actress had filed for divorce after five years of marriage,
ending an unexpected love story dogged by tabloid rumors.
A spokesman for Cruise said the "Mission Impossible" star was "deeply
saddened" by the news, fuelling reports that his wife's announcement had taken
him by surprise.
Speculation about why Holmes wanted out has included suggestions she was
concerned that Cruise was forcing their six-year-old daughter Suri deeper into
the Church of Scientology.
The TMZ celebrity news website has reported that Holmes is seeking sole
custody of Suri. Citing unnamed sources, it said she feared "that Tom would drag
Suri deep into the church."
"We're told the couple had been arguing over Suri – that she's now of the age
where Scientology becomes a significant part of her life," it said.
Murdoch's Scientology comment generated a surge of Twitter traffic, prompting
another tweet: "Since Scientology tweet hundreds of attacks. Expect they will
increase and get worse and maybe threatening.
"Still stick to my story," he added.
There was no immediate response to a request for comment from the Church of
Scientology, or from publicists for Cruise or Holmes.
A short time after his Scientology tweet, Murdoch was asked his views on
Mormonism – in the spotlight currently as Mormon Mitt Romney takes on President
Barack Obama for the White House.
"Mormonism a mystery to me, but Mormons certainly not evil," the News Corp
tycoon replied.
Tom Cruise & Katie Holmes: A Look Back at Their
Relationship
After five years of marriage, the couple announced their split on June 29.
Take a look back at their relationship during happier times Tracy Pepey and Ali
Gray on Jun 29, 2012 at 2:38PM











SAYING GOODBYE On June 29, Tom
Cruise and Katie Holmes shocked fans when they announced the end of their
five-year marriage. "Kate has filed for divorce and Tom is deeply saddened and
is concentrating on his three children," his rep said in a statement. "Please
allow them their privacy to work this out." The couple are parents to 6-year-old
Suri, while Cruise has two older children from his previous marriage to Nicole
Kidman.
The Very Beginning In the spring of
2005, Tom Cruise and former Dawson's Creek star Katie Holmes met, hit it off
immediately and began a whirlwind romance. Their first date was said to be a
sushi dinner aboard Tom's private plane and later that month, the pair were
first spotted together in April 2005 publicly holding hands in Rome.

The Jump Seen 'Round the World During his
infamous May 23, 2005 appearance on Oprah Winfrey's show, Tom got so excited
about his new relationship with Katie that he hoisted himself on top of the
talk-show host's couch. "I'm in love! I'm in love," Cruise yelled, throwing his
hands in the air. "I can't be cool. I can't be laid-back. It's something that
has happened, and I feel I want to celebrate it. I want to celebrate her. She's
a very special woman." Moments later, a giddy Tom brought Katie on to the stage,
where she admitted she had childhood fantasies about becoming Mrs. Cruise one
day.





The Proposal Just two months after
their first meeting -- Tom proposed to Katie over a candlelit dinner at the
Jules Verne restaurant in the Eiffel Tower in Paris. With his pledge of devotion
came a five-carat diamond ring and an announcement to the media on June 17, 2005
-- at a press conference for War of the Worlds -- that he and Katie were going
to be married.
TomKat Is Born While the
couple (in June 2005) -- now dubbed TomKat -- basked in their new-love glow, the
summer following their engagement was also filled with a host of rumors -- from
talk that Katie was hiding a pregnancy to whispering that Katie was actually
being paid to marry Tom.

Great Expectations On Oct. 6, 2005, Tom and
Katie announced that they were expecting their first child together (joining
Tom's adopted children Isabella, then 12, and son Conor, then 10, with ex-wife
Nicole Kidman). "Tom and Katie are very excited, and the entire family is very
excited," Cruise's sister and spokesperson, Lee Anne DeVette, told PEOPLE. There
was no word on the sex of the baby or how far along Katie was in the pregnancy.






Going to the Chapel...Seven months after
giving birth to their daughter Suri, Katie donned a white Armani gown and walked
down the aisle to marry Tom on Nov. 18, 2006. While 150 of their closest friends
and family looked on, the couple recited their vows at the Odescalchi castle
overlooking Lake Bracciano in Italy. The couple made sure their union was
official by having a civil ceremony in Los Angeles days before jetting off to
Europe for their star-studded reception.
Sweet Suri On April 18, 2006, Tom
and Katie welcomed daughter Suri into the world. But it was five months before
the little A-lister made her public debut in a big way -- on the cover of Vanity
Fair that September. "We were just living our lives, being a family," Tom said
in the magazine about why waited to show off their baby. "She's a glorious girl.
She's the miracle of our life," Katie said.
Beginning of the End At the 2012 Vanity Fair
post-Oscars bash, Tom and Katie looked perfectly happy as they smiled for the
camera flashes. But that was the last time the dazzling duo would walk the red
carpet together. Tom raised suspicion when he flew solo for the Rock of Ages
premieres in June -- and he even subtly hinted at the end of their marriage when
he told People that he and Katie wouldn't be having anymore kids together. Just
a few short weeks later, the couple announced that their union was
over.
Read More http://www.ivillage.com/tom-cruise-katie-holmes-divorce-photos/1-b-66452#ixzz1zTnEsdzc
Sign up for iVillage Special Offers



Chief News Editor: Sol
Jose Vanzi

© Copyright, 2012 by PHILIPPINE
HEADLINE NEWS ONLINE
All rights reserved




PHILIPPINE HEADLINE
NEWS ONLINE [PHNO] WEBSITE




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PHNO-SB: TINTIN: CHIZ AND I ARE FRIENDS, I'M HAPPY FOR HIM!

TINTIN: CHIZ AND I ARE FRIENDS, I'M HAPPY FOR
HIM!

[PHOTO- Sen. Chiz
Escudero and ex-wife Tintin during happier times. Below: Kris Aquino will have
Chiz as special co-host for one week in her ABS-CBN show.]
MANILA, JULY 3, 2012 (PHILSTAR) FUNFARE By Ricardo F. Lo - Quiet
for a long time, Tintin ex-Escudero has finally spoken, but only a bit and
reluctantly, on her failed seven-year marriage to Sen. Chiz Escudero that has
recently been annulled. The un-couple has twins who are in the care of Chiz at
the condo unit near the Christ The King Church in Quezon City which he shared
with Tintin until two Christmases ago when she packed her things and said
goodbye to Chiz — for good.
Like Chiz who has kept mum on what caused their break-up, Tintin didn't go
into details when Funfare had a chat with her during a chance phone call. It was
providential, the phone call. During a trip to Singapore over the weekend to
interview Hawaii Five-O actor Daniel Dae Kim, I saw a sign that had a "Tintin"
on it and I wondered how Chiz's ex-wife had been doing since news of their
domestic meltdown was reported as a "scoop" by this corner two years ago.
Arriving home Saturday, I casually dialed Tintin's celfone number
and…surprise, surprise!...she answered.
"I'm okay," she said.
Okay with herself or okay with Chiz?
"Okay with myself and okay with Chiz," she added. "In fact, Chiz and I are
friends."
The twins, now almost four years old, have to be with their father because,
according to Tintin, "Chiz is more financially capable of taking care of them."

As friends, Tintin admitted that she and Chiz would, so to speak, shoot the
breeze when she drops by their old love nest to visit the kids.
"We would talk over a few drinks and listen to music," she said.
Well, just like old times, except that there's nothing romantic between them
anymore. The soft music is just that, soft music, and it doesn't rekindle
anything.
"We have to be friends for the sake of our children," Tintin explained. "And
what do we talk about when we see each other? About the kids, but never about
our personal lives."

[2011 PHOTONEWS -Say whut? From politician to dancer, Chiz Escudero's
wife, Christine Escudero, now opts for someone limber and perhaps more acrobatic
in bed! Jason Zamora is a member of dance group Maneuvers and the brother of
Joshua Zamora who now lives in with ex-Sexbomb girl Jopay Paguia. Classy!
]
Like many showbiz-watchers, Tintin said that she only hears from the
grapevine or reads in the tabs about the women linked to Chiz, among them Heart
Evangelista and Kris Aquino who will have Chiz as co-host (for one week) on her
ABS-CBN show Kris TV's first-anniversary specials starting today. Both Heart and
Kris have denied the yarn (although Heart has admitted having gone out to dinner
with Chiz who confirmed it).
"I never ask him about (the women)," said Tintin. "Wala na ako d'un. It's his
business and I respect him."
In the same way that Chiz politely refrains from asking Tintin about her
private life, not even as much as hinting if the rumor linking Tintin to a
handsome dancer is true or not. They respect each other's space.
Told that Chiz has become showbiz na showbiz (well, election time is just
around the corner, you know, and showbiz exposure is a "must" for a candidate!),
last night guesting on Ogie Alcasid and Michael V.'s GMA show Pare & Pare,
Tintin said she's happy for him.
Beyond that, Tintin said nothing more. She made it clear that she was talking
to me "for old time's sake" and I had to ask her permission to publish what we
talked about which were all, I must make it clear, very positive.
A few minutes after we hung up, Tintin texted me this message:
Hi Ricky! Thank you for calling me earlier on. For someone who had been
there when we were starting as a couple, when we got married, when I gave birth
to our lovely twins, you have remained fair in judgment despite my sudden
silence after the break-up. I guess we are all entitled to that.
And yes, Chiz and I are still friends. We have to be, for the sake of our
children. I am and will always be there for my children. Although it may be
difficult physically because they are living with their father, I make it a
point to spend time with them and make every moment worthwhile for us.
What happened to us is not something that doesn't happen every day, so we
can only make the best of what we have in the present, and work for a better
future. I am happy for all the blessings Chiz has because he deserves every
single bit of it. He is a great father and I, along with my children, are proud
of him!
I texted Tintin back, "Thank you, Tintin, take care!"
But I forgot to add, May you be as happy as Chiz seems to be and as blessed
as he is. You deserve as much happiness as he does.
Maroon 5 Big Dome concert almost sold out

The Maroon 5 Live in Manila concert, with The Cab as special guest, is set
for Sept. 18 yet at the Smart Araneta Coliseum and Funfare sources reported that
tickets (which went on sale barely two weeks ago) are almost sold out. The
producers, Midas Promotions in cooperation with Dayly Entertainment, is
finalizing an extension.
"Blame" it on the group's front man Adam Levine who promises to swing it like
"Jagger."
The band's first album Songs About Jane brought them commercial success as
their singles She Will Be Loved, This Love and Harder to Breathe hit the
airwaves and climbed the MRS (Most Requested Songs) chart. They became popular
in the Philippines particularly through the song She Will Be Loved.
Their latest phenomenal hit, Moves Like Jagger, went down in history as the
most-paid downloaded song, prompting the band to explore the idea of co-writing.
The underlying message of their new album title captures the band's willingness
to take a step further in terms of music and take risks.
"I feel like we've been standing on the edge of a cliff for a long time,"
Levine was quoted as saying. "We're a band that's always been close to being
full on pop, but that's rooted in a lot of other things: Rock, soul, funk, the
list goes on. Overexposed is the first time we've ever completely embraced the
idea of making pop music — of making songs for the radio. We just said, 'Let's
not be afraid to do what we basically are.'"
Levine's added exposure as a mentor and host for the hit reality TV show The
Voice further fueled the band's status as one of this generation's music icons.
It would be hard to deny that Maroon 5's worldwide recognition comes not just
from their music but also from the palpable charisma that Levine generates. His
presence on stage can command thousands of screams louder than a thunder.
(Note: For ticket inquiries, call 911-5555 or go online at www.ticketnet.com.ph.)
First batch of Mutya bets from overseas

Preliminary screenings for this year's Mutya ng Pilipinas search have just
been concluded in Bacolod, Cebu, Iloilo, Cagayan de Oro and Davao. Another
screening was held yesterday at the SkyDome of SM North EDSA, with two more set
for July 7 and 9, from 1 to 6 p.m.
The coronation night will be on Aug. 12 at the Meralco Theater.
Aspirants must be 18 to 25 years old, at least 5'5" tall and a high school
graduate, must possess beauty of face and figure, smart and witty, of Filipino
ancestry, and with at least one grandparent in the paternal and maternal line
possessing Filipino citizenship. (For inquiries, call the pageant secretariat at
0917-5260777.)
Meanwhile, here's the first batch of Mutya aspirants from Filipino
communities overseas:
= From Norway, Marie Peter, 21, 5'8" tall. She speaks English, German,
Norwegian and Tagalog (also fluent in the Aklanon dialect). Currently, she's the
chairman of a youth organization in Norway engaged in community debates, courses
and conferences.
= From Midwest USA, Kylla Gallardo, 21. She was born in Manila but her family
migrated to the US. She likes meeting new acquaintances, exploring unfamiliar
places, and being a good role model to the youth.
= From the US East Coast, Caitlin Gainey whose mother is a Batangueña and
whose father has Irish heritage. She's taking up International Business at St.
Joseph's University in Philadelphia. She looks up to Audrey Hepburn as a role
model.

Chiz & Tintin: Yes, it's over!
PHILSTAR ENTERTAINMENT NEWS LAST YEAR

FUNFARE By Ricardo F. Lo The Philippine Star Updated April 19, 2011 12:00 AM
0 comment to this post
Sen. Chiz Escudero and wife Tintin: Where has love gone?

The first time I used that title was more than 12 years ago when Pops
Fernandez, after denying to death that her marriage to Martin Nievera was on the
rocks, finally confessed to The STAR, which broke the story three years earlier,
that the persistent rumors were true, saying with finality, "When it's over,
it's over!"
The second time that headline appeared in Funfare was more than two years ago
when a Funfare VDPA (Very Deep Penetration Agent) confirmed that Robin Padilla
and Liezl Sicangco had been separated for two years and Liezl was ready to
remarry (a New Zealander). Of course, Robin has found his own new love in the
person of Mariel Rodriguez whom he's determined to marry again, this time in
Catholic rites after their Muslim marriage in India in August last year — if,
and only if, the church authorities will give them the go-signal.
Then last year, Funfare again used that title for a story about a
controversial couple whose romance was doomed from the start.
And now, with a heavy heart, I'm constrained to use that "It's over!"
banner again as I break the story that, yes, it's true, Sen. Chiz Escudero and
Christine Elizabeth "Tintin" Flores, his wife of 10 years, have separated.
"They've been living apart for five months now," said the VDPA.
Funfare texted Chiz and Tintin separately for comment, but neither of them
replied. Close friends of the un-couple are also mum on the matter.
Chiz and Tintin met in 1995 while Tintin was singing at the lounge of Sulo
Hotel whose owner is her father's good friend. Chiz was a new lawyer then,
working at the nearby Quezon City Hall. He and his friends would drop by after
work, and that's how he fell in love with Tintin.
Recalled Tintin in an interview with The STAR after they got married on Dec.
15, 1999 at the Shrine of Jesus at the Reclamation Area, Pasay City, "I
committed a booboo on our first meeting. The waitress approached me with a
request slip. Nakasulat doon Fallin', requested by 'Atty. Cordero'. Aba, Chiz's
group started laughing! His friends were shouting, 'O, pare, hindi ka naman pala
kilala, eh!' It turned out that Chiz was boasting to them that he knew me and I
knew him. He ended up alaskado that night."
But it didn't stop Chiz from courting her.
After suffering from ectopic pregnancy a year after they got married, Tintin
finally gave birth to fraternal twins in October 2007, also her and Chiz's birth
month.
Rumors that their marriage was having trouble started circulating two years
ago. Chiz had expressed an intention to run for president in 2010 and people
thought that his possible opponents were the ones spreading the nasty rumor to
discredit him. But even after the election, the rumors persisted, generating
subplots in the process, with Tintin being linked to a member of an all-male
dancing group and Chiz to Kris Aquino. I believed neither of the rumors.
Several times, Funfare contacted Chiz and Tintin for comment on the rumor
that has gone viral in the Internet and that pops up every now and then in blind
items, but up to now they have remained quiet, non-committal, not replying at
all.
Until Funfare's unlikely VDPA surfaced when I bumped into him on my recent
trip to Cebu.
Asked if any "third party" is involved on either side, the VDPA said, "I
don't know. What I know is that they just drifted apart."



Chief News Editor: Sol
Jose Vanzi

© Copyright, 2012 by PHILIPPINE
HEADLINE NEWS ONLINE
All rights reserved




PHILIPPINE HEADLINE
NEWS ONLINE [PHNO] WEBSITE




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