Megaworld Corp. is ramping up its land bank in Cavite and Laguna with the acquisition of a South Luzon-based real estate firm through one of its subsidiaries.
In a statement issued Tuesday, Megaworld said its wholly-owned unit Suntrust Properties, Inc. (SPI) recently acquired Stateland, Inc.
The 42-year old real estate firm has existing developments covering over 200 hectares primarily in Cavite and Laguna, as well as some parts of Metro Manila.
Stateland’s existing developments include horizontal residential projects, including the 4.34-hectare Villa San Lorenzo in Imus, Cavite, and three developments in Calamba, Laguna: 23-hectare San Francisco Heights, 16.25-hectare Gran Avila, and 7.46-hectare Casa Laguerta. — Arra B. Francia

President Rodrigo R. Duterte has approved the Consultative Committee’s (ConCom) draft federal constitution, Presidential Spokesperson Harry L. Roque, Jr. said.
“Approved na ito, except for request to amend transitory provision to provide for an elected president during transition,” Mr. Roque said in a text message to ConCom spokesman Ding Generoso.
“PRRD mentioned in cab meeting his request to amend transitory provision for elected transition leader,” Mr. Roque also said in a text message as shared by Mr. Generoso to reporters.
He said the President “wants to step out as soon as the draft constitution is ratified,” requesting instead a general election for a transitory leader.
The President also wants a “younger” leader to take over once he steps down.
In his speech on Monday, ConCom chairman retired Chief Justice Reynato S. Puno said the draft constitution seeks to create 18 federated regions, including federated regions of the Bangsamoro and Cordillera.
“We divided the powers of government guided by the Filipino spirit of bayanihan where both the federal government and the federated regions govern the people less in competition but more in cooperation and aligned with the maxim: The welfare of the people is the supreme law, Salus populi est suprema lex,” Mr. Puno said.
Citing several features of the draft federal constitution, Mr. Puno said it “democratizes the electoral process by prohibiting political dynasties that have long monopolized the elections.”
“At the same time, it transformed political parties as mechanisms of citizen representation and democratic governance,” he said. “Under the draft constitution, political turncoatism is also prohibited.”
The proposed constitution, according to Mr. Puno, prohibits “monopolies and oligopolies.”
“For this purpose, the draft constitution established an independent competition commission to stop these monopolies by the moneyed,” he said, saying the federal constitution is “pro-poor.”
“For the first time in our history, the socioeconomic rights of the poor to adequate food, comprehensive health care, complete education, adequate and decent housing and livelihood and employment opportunities are included in the Bill of Rights as rights demandable against the government,” he said.
Mr. Puno added that under this system, the country’s impoverished communities are guaranteed political representation in legislative bodies and federated regions.
“Finally, the draft constitution established a permanent and indissoluble nation because it recognized the ethnicity, culture, religion, customs, traditions, language, and distinct identities of our brothers and sisters in the Cordillera and Bangsamoro,” Mr. Puno said. — Arjay L. Balinbin

China will provide Arab states with $20 billion in loans for economic development, President Xi Jinping told top Arab officials Tuesday, as Beijing seeks to build its influence in the Middle East and Africa.
The money will be earmarked for “projects that will produce good employment opportunities and positive social impact in Arab States that have reconstruction needs,” said Xi, without providing further details.
It is part of a special Chinese programme for “economic reconstruction” and “industrial revitalisation,” Xi told participants at a China-Arab States forum in Beijing’s Great Hall of the People.
Beijing is also prepared to provide another one billion yuan to countries in the region to “build capacity for stability maintenance,” Xi said, using a term commonly associated with policing and surveillance.
Since taking office, Xi has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country’s first military base in Arab League state Djibouti.
China has already provided vast sums to Arab countries, with Djibouti alone owing some $1.3 billion, according to estimates from the US-based China Africa Research Initiative.
The financial largesse has raised concerns both at home and abroad over the vulnerability of poor nations to such massive debt.
Last year Sri Lanka was forced to hand over majority control of its Hambantota port to China after being unable to repay its loans.
At the heart of Xi’s vision is the “Belt and Road” initiative, a $1-trillion infrastructure programme billed as a modern revival of the ancient Silk Road that once carried fabrics, spices and a wealth of other goods between Asia, Africa, the Middle East and Europe.
The Arab states’ position at the centre of the ancient trade route makes them “natural partners” in China’s new undertaking, he said, adding he expected the summit would end with an agreement on cooperation on the initiative.
“Chinese and Arab peoples, though far apart in distance, are as close as family,” he said, describing a romanticised history of trade along the Silk Road.
The project, which has already financed ports, roads and railways across the globe, has spurred both interest and anxiety in many countries, with some seeing it as an example of Chinese expansionism.
“China welcomes opportunities to participate in the development of ports and the construction of railway networks in Arab states” as part of a “logistics network connecting Central Asia with East Africa and the Indian Ocean with the Mediterranean,” said Xi. — AFP

Following is a summary of current world news briefs.
Trump suggests China might be interfering in U.S.-North Korea talks
President Donald Trump suggested on Monday that China might be seeking to derail U.S. efforts aimed at denuclearizing North Korea, but said he was confident that North Korean leader Kim Jong Un would uphold a pact the two agreed on last month. In his first remarks about challenging diplomatic talks held at the weekend that sowed fresh doubts over North Korea’s willingness to give up its nuclear arsenal, Trump said China “may be exerting negative pressure” in reaction to punitive U.S. tariffs on Chinese goods.
Thai boys await resumption of rescue mission after first four freed from cave
The Thai soccer team trapped in a flooded cave in northern Thailand waited for a rescue operation to resume on Monday, a day after the first four were brought out safely and whisked away to hospital. The daring and dangerous bid to rescue the boys – aged between 11 and 16 – was suspended by the mission chief late on Sunday to replenish oxygen supplies and make new preparations, which he said would take at least 10 hours.
When Donald meets Vladimir: the neophyte and the black belt
When Donald Trump meets Vladimir Putin, he sits down with a disciplined, detail-oriented and experienced Russian leader who has played on the world stage for more than 18 years, in contrast to the U.S. president’s 18 months in office. Former U.S. officials argue that Putin will come to the July 16 Helsinki summit armed with facts and figures, flaunting a familiar narrative of Russian grievance and probing for a way to get something from Trump for little or nothing in return.
China jails hundreds of officials for pollution violations
China has jailed hundreds of officials for failing to tackle environmental violations uncovered during inspections last year, the environment ministry said in the latest round of the “war on pollution” led by President Xi Jinping. A total of 4,305 officials in 10 provinces and regions had been held to account for failing to rectify violations, with some of them facing fines and even jail time, the ministry said late on Monday.
Euroskeptic British ministers quit in blow to May’s Brexit plan
Prime Minister Theresa May’s foreign minister and Brexit negotiator quit on Monday in protest at her plans to keep close trade ties with the European Union after Britain leaves the bloc, stirring rebellion in her party’s ranks. Foreign Secretary Boris Johnson, the face of Brexit for many, resigned just hours after Brexit minister David Davis, emboldening some in her Conservative Party to mull a plot to unseat her less than nine months before Britain exits in March.
Mexico will not intervene in Venezuela, Nicaragua crises: incoming minister
The next government of Mexico, led by leftist President-elect Andres Manuel Lopez Obrador, will not intervene in the internal affairs of other nations, such as crisis-ridden Venezuela and Nicaragua, the country’s future foreign minister said on Monday. Mexico’s current administration has taken a lead in regional efforts to pressure socialist Venezuelan President Nicolas Maduro into restoring democracy in the South American country, and has worked closely alongside the United States to stem north-bound Central American migration.
Myanmar court files secrets act charges against Reuters reporters
A court in Myanmar on Monday charged two jailed Reuters journalists with obtaining secret state documents, moving the landmark press freedom case into its trial stage after six months of preliminary hearings. Yangon district judge Ye Lwin charged reporters Wa Lone, 32, and Kyaw Soe Oo, 28, with breaching the colonial-era Official Secrets Act, which carries a maximum penalty of 14 years in prison.
As Trump confounds, Mattis seen as quiet champion among NATO allies
U.S. Defense Secretary Jim Mattis will only play a supporting role to President Donald Trump at this week’s NATO summit – an event that by definition is focused on heads of state from the trans-Atlantic alliance. But Mattis’ small part belies his high standing among NATO allies, which has only risen as they become increasingly bewildered by Trump’s policies on trade and Iran and anxious about his outreach to Russian President Vladimir Putin, European diplomats, officials and experts say.
Israel announces Gaza sanctions in response to cross-border blazes
Israel imposed sanctions on the Gaza Strip and its dominant Hamas Islamists on Monday in retaliation for attacks by Palestinians using burning kites and helium balloons carrying blazing rags. People taking part in more than three months of protests at the Gaza border have started scores of fires by sending the balloons and kites into Israel, vexing its advanced military which is used to dealing with more conventional weapons.
Turkey’s Erdogan sworn in with new powers, names son-in-law finance minister
President Tayyip Erdogan appointed his son-in-law as Turkey’s finance minister on Monday hours after he was sworn in with sweeping new executive powers, promising a “strong government and a strong Turkey”. The lira, which has lost nearly a fifth of its value against the dollar this year, dropped nearly 3 percent to 4.74 to the U.S. currency after the cabinet announcement. — Reuters

Chinese enterprises will be banned from using words like “China”, “Chinese” or “State” in their names, the Communist Party-run People’s Daily newspaper said on Tuesday, citing draft proposals from market regulators.
China has become increasingly wary about the use of sensitive language and imagery for commercial or entertainment purposes. It has also taken action to ban the misuse of the national anthem as well as satirical representations of historical and even fictional heroes.
The new draft rules issued by the State Administration for Market Regulation said the use of certain words in company names was “detrimental to the interests of state and society” and needed to be banned.
The new rules would also ban non-state firms from describing themselves as “Central”, “Nationwide”, “State” or “International”.
The new restrictions would allow, for example, a company to name itself “Acme China Jewellery” but not “China Acme” unless it gains the explicit approval of the State Council, China’s cabinet.
Companies will also be banned from using words for foreign countries, regions, companies or organisations, or deploy any name designed to deceive or mislead the public, the People’s Daily said.
The paper did not say whether the name restrictions were linked to intellectual property issues that have been raised in trade disputes between the United States and China. — David Stanway, Reuters

Rescuers raced to save four young footballers and their coach who remain trapped in a flooded Thai cave Tuesday, as heavy rains threatened an already perilous escape mission that has seen eight of the boys extracted in “good health”.
The members of the “Wild Boars” team, aged between 12 and 16, were guided to safety through the twisting, submerged passages of the Tham Luang cave by a team of international expert divers flanked by Thai Navy SEALs over two days in a meticulously planned operation.
The emergence of the second batch of four on Monday evening was greeted with a simple “Hooyah” by the Thai SEAL team on their Facebook page, an exclamation that lit up Thai social media.
“All eight are in good health, no fever… everyone is in a good mental state,” Jesada Chokedamrongsuk, permanent secretary of the public health ministry, told reporters Tuesday at Chiang Rai hospital in the clearest update on their condition so far.
The boys underwent x-rays and blood tests and two who had signs of pneumonia were given antibiotics and are in a “normal state”, he said, adding they will all remain under observation in hospital for a week.
The ups and downs of the rescue bid has entranced Thailand and also fixated a global audience, drawing comments of support from celebrities as varied as US President Donald Trump, football star Lionel Messi and tech guru Elon Musk.
Thailand’s junta leader welcomed Musk into the cave complex late Monday, with the American later tweeting a standing offer of a mini-submarine escape pod to help the remaining five leave the tunnels.
Fresh rains on Tuesday added urgency to the final stages of the treacherous rescue bid, several kilometres inside a mountain and through flooded, tight corridors.
Infection risk
It was unclear what time the rescue effort would resume on Tuesday, with operations chief Narongsak Osottanakorn telling reporters divers had crafted plans to extract four people at a time.
“If we bring five we have to change the plan,” he told reporters late Monday.
A rescue official, speaking on condition of anonymity, told AFP the timings of Tuesday’s dives were not yet set.
“But I guarantee they will all be safe,” he added, reflecting an increasingly bullish attitude after two successful operations so far.
Thai authorities said the first four rescued Sunday have been kept in quarantine until the risk of infection subsides.
Information on the rescue operation, the health of those rescued — and their identities — has been tightly guarded by Thai authorities.
But the progress of a rescue, which early on had looked like it could be stalled until after the monsoon season, has brought joy to the friends and family of the stricken group.
“I want him to be healthy and come back to study quickly,” Phansa Namyee, classmate of 16-year-old footballer Night said.
“I want to go play with them… take him to some restaurants and spend time together.” — AFP

Women in Saudi Arabia have for the first time been allowed to become notaries, with 12 granted permission to start working in the profession, the justice ministry said Monday.
The move comes amid a reform drive in the ultra-conservative kingdom that saw the authorities lift a ban on women drivers in June.
As notaries the women can now issue and cancel powers of attorney, and certify documents to help establish companies or transfer property rights, the ministry said.
The modernization push is being spearheaded by Crown Prince Mohammed bin Salman as he seeks to improve Saudi Arabia’s image and wean the economy off its dependence on oil.
Despite the changes women still lack fundamental rights in Saudi Arabia.
Under a strict guardianship system they still require permission from their closest male relative on basic decisions like enrolling in classes, renewing their passport, or undergoing some medical procedures. — AFP

Global coffee giant Starbucks announced Monday it is to eliminate all plastic straws from its 28,000 stores by 2020, becoming the latest corporate giant to take steps to combat pollution from disposable plastic.
After months of tests, many of them carried out in Britain, the firm announced the news on Twitter.
The plastic straws will be replaced by recyclable lids that have a small raised opening allowing consumers to sip their drink, a model that has already been road tested on some of the company’s cold beverages in the US and Canada.
Plastic straws have proven difficult to recycle, not because of the material they are made from but because they are too slim for recycling production lines to effectively sort through. The new lids, made of polypropylene, will be big enough for machines to recycle, Starbucks said.
“Starbucks is finally drawing a line in the sand and creating a mold for other large brands to follow,” said Chris Milne, director of packaging sourcing. “We are raising the water line for what’s acceptable and inspiring our peers to follow suit.”
The store will automatically offer cold drinks with the new sipping lid, but for “frappuccinos,” a coffee mixed with ice, the store will offer paper straws or ones made of a compostable plastic based on fermented plant starch. Customers who prefer a straw with their drink can ask for one.
By not automatically offering straws with drinks, Starbucks estimates it will save a billion straws a year.
Numerous advocacy groups, including Ocean Conservancy, welcomed the move. Several European countries and cities in the United States are mulling restrictions on the use of plastic straws, although outright bans are still rare. In the US, Seattle — hometown of Starbucks — is the only major city to have so far banned the use of plastic straws in its eateries.
Pressure from consumers is driving many companies to tackle waste from packaging. McDonald’s is road testing the use of biodegradable straws for its drinks. — AFP

China’s factory price inflation rose in June, the government said Tuesday, as a trade war threatens producers in both of the world’s top two economies.
The producer price index (PPI) rose 4.7 percent year-on-year, according to the National Bureau of Statistics (NBS), a notch above the 4.5-percent gain forecast in a Bloomberg News survey.
The consumer price index (CPI), a main gauge of retail inflation, rose 1.9 percent last month on-year, up from 1.8 percent in May and in line with Bloomberg’s forecast.
There are fears that the trade war with the US could stoke inflation, with tariffs making imported goods more expensive in China.
American soybeans are used for cooking oil and animal feed in China, and soybean traders say that in the fourth quarter, when soybean production tails off in Brazil — the only other major exporter — China may have no choice but to import more costly US soybeans.
Beijing late Monday encouraged companies to diversify away from the US.
Companies should “adjust their import structure, increase the import of soybeans, soybean meal and other agricultural products, as well as aquatic products and automobiles from other countries and regions,” the commerce ministry said in a statement.
Analysts worry that if substitutes are not found, the price hikes will translate into higher prices for pork and other food at the dinner table for Chinese families.
Last month, the price of pork rose 1.1 percent after falling this spring, but food prices more generally fell 0.8 percent. — AFP

Asian markets mostly rose on Tuesday following another strong lead from New York, as optimism about the US economy and the beginning of the earnings season provide a distraction from trade tensions.
After weeks of losses across the world, investors moved back in on Friday as the tit-for-tat tariffs between Beijing and Washington had already been factored in and attention shifted to US jobs and corporate results.
Wall Street’s three main indexes closed with more healthy gains Monday, building on a rally that has been given life by another forecast-busting US jobs report.
“For a change, all is quiet on the … trade war front as the drop in aggressive US tariff posturing and the (jobs data) after effects have propelled US equity markets to their third consecutive day of substantial gains,” said Stephen Innes, head of Asia-Pacific trading at OANDA.
“For the time being robust US economic data is offsetting concerns about rising trade tensions.”
However, he added a word of warning that “markets remain deceptively tricky and could be even more so as we enter the US dog days of summer”.
The positive sentiment and US economic optimism has lifted the dollar against the safe haven yen, helping Tokyo’s Nikkei end the morning session one percent higher.
Hong Kong put on 0.7 percent, Shanghai added 0.3 percent and Singapore climbed more than one percent. Seoul gained 0.5 percent, Taipei edged 0.3 percent higher, while Manila and Jakarta were also well up.
Boris hits pound
Rodrigo Catril, senior strategist at National Australia Bank, said: “No new news from the US-Sino trade war has helped investors focus back on fundamentals and with the US earnings season starting later this week, the US has led the gains in equities overnight.”
The reporting season for April-June kicks off in the US this week and there are hopes another outstanding set of reports can put some fizz back into world markets.
Also on the radar this week is the release of Chinese trade data, which will be pored over for an idea about what impact the ongoing row with the US has had so far on the world’s number two economy.
On currency markets the pound is holding up against the dollar after tumbling Monday in reaction to news that Britain’s Foreign Secretary Boris Johnson had resigned citing his displeasure at a cabinet post-Brexit deal.
While the pro-Brexit minister had been seen as a thorn in Prime Minister Theresa May’s side, observers said the news increases the chances she will face a possible leadership challenge, throwing Britain into fresh turmoil and the possibility of another general election.
His decision came hours after May’s point man on Brexit talks with the EU also stepped down over the agreement.
Oil prices rose again on expectations of US sanctions on key producer Iran, clashes in Libya that are choking output there and ongoing political and economic uncertainty in Venezuela.
Key figures around 0300 GMT
Tokyo – Nikkei 225: UP 1.0 percent at 22,278.51 (break)
Hong Kong – Hang Seng: UP 0.7 percent at 28,878.25
Shanghai – Composite: UP 0.3 percent at 2,823.28
Euro/dollar: UP at $1.1750 from $1.1748 at 2030 GMT
Pound/dollar: UP at $1.3250 from $1.3246
Dollar/yen: UP at 111.01 yen from 110.82 yen
Oil – West Texas Intermediate: UP 20 cents at $74.05 per barrel
Oil – Brent Crude: UP 23 cents at $78.30 per barrel
New York – Dow: UP 1.3 percent at 24,776.59 (close)
London – FTSE 100: UP 0.9 percent at 7,687.99 (close)
— AFP