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Foreign direct investments in the Philippines

FOREIGN direct investments (FDI) surged in January, the central bank reported on Tuesday, saying it expected inflows to keep rising this year amid upbeat domestic activity and positive market sentiment. Read the full story.
FDI

Art & Culture (04/11/18)

Last concert of the season

TRUMPET player Raymond de Leon is the featured performer in the PPO’s last concert for the season.

THE Philippine Philharmonic Orchestra culminates its 35th season, billed “Romancing the Classics,” with a finale concert featuring trumpet player Raymond de Leon as guest soloist on April 13, 8 p.m., at the Cultural Center of the Philippines’s Tanghalang Nicanor Abelardo (Main Theater). Under the baton of its music director Yoshikazu Fukumura, the orchestra will perform F. Delius’s “A Walk to the Paradise Garden” and “Summer Evening,” F. Haydn’s Trumpet Concerto, and M. De Falla’s El Sombrero de Tres Picos (Complete Ballet). For inquires and subscription, call the CCP Marketing Department at 832-1125 local 1806, the CCP Box Office at 832-3704, or TicketWorld (891-9999, ticketworld.com.ph).

Drum Tao at Shangri-La Plaza

JAPAN’s Drum Tao

THE renowned Drum Tao group of Japan is bringing its dance, martial arts, and percussion show to Shangri-La Plaza mall on April 15, 7 p.m., at the Grand Atrium. Drum Tao will be performing its famous Samurai Drum Rock for the first time in Manila, with Shangri-La Plaza as one of their stops. It’s a unique theatrical experience featuring an eclectic mix of dance and martial arts and flawless movements. For inquiries, call 370-2597 to 98 or visit www.facebook.com/shangrilaplazaofficial.

Mamma Mia! returns to Manila

THE UK International Tour of Mamma Mia! will be stopping by Manila.

THE feel-good musical Mamma Mia! makes a return to Manila and will play at the Theatre at Solaire for a strictly limited season from Sept. 29 as part of the show’s International Tour which features a cast from the United Kingdom. Tickets go on sale on April 11 through TicketWorld (891-9999, ticketworld.com.ph). Described as “the sunniest of all musicals” by the UK’s Sunday Express, Mamma Mia! is Judy Craymer’s staging of ABBA’s timeless songs around a story of family and friendship unfolding on a Greek island paradise. On the eve of her wedding, a daughter’s quest to discover the identity of her father brings three men from her mother’s romantic past back to the island they last visited 20 years ago. Visit the Mamma Mia! website for more information at www.mamma-mia.com.

Summer workshops at Benilde

STAR Workshops, which features lessons in various fields of arts and promotions which are open to the public, will be offered by the Office of Culture and Arts (OCA) of De La Salle-College of Saint Benilde (DLS-CSB). Available courses are Creative Theater for Kids, Teens, and Adults, Baby Ballet, Creative Movement and Contemporary, Hip Hop for Kids, Teens, and Adult, Shadowplay, and Painting. Sessions on Stage Productions and Operations, and Cultural Promotions are likewise open. Sessions will be on Saturdays, from May 5, to June 2, with rehearsals on June 28 and 29, and the concluding recital on June 30. Download the application form at https://bit.ly/2q4jy9n, and submit with two 2×2 ID pictures to the OCA Office. A 5% discount will be granted for those who pay in full by April 16, while a reservation fee of P500 secures a slot for a chosen course. For inquiries, e-mail culture.arts@benilde.edu.ph, or call 0917-832-0721 or 230-5100 local 1528.

Philodrill’s bid to revive case vs ex-president junked

THE Office of the City Prosecutor in Mandaluyong has junked Philodrill Corp.’s bid to revive the case for attempted estafa it filed against its former president Francisco A. Navarro.
On Tuesday, Philodrill told the stock exchange it received a copy of the resolution penned by Senior State Prosecutor Arnold L. Magpantay of the   Office of the City Prosecutor, Mandaluyong City, denying the company’s motion for reconsideration on the case’s dismissal due to lack of merit.
The development followed the prosecutor’s recommendation earlier this year for the dismissal of the case for lack of probable cause. Mr. Magpantay penned the previous resolution, which Philodrill received on Jan. 5.
Philodrill and Reynaldo E. Nazarea, its treasurer, vice-president for administration and director, filed the complaint against Mr. Navarro on Sept. 15, 2017 for violation of the Revised Penal Code, Article 315 (1)(a), for attempted estafa.
The complainants said they had filed the case when Mr. Navarro demanded payment of his supposed “special retirement package,” coupled with a threat that cases will be filed against the company if his demands were not complied with.
“The NLRC (National Labor Relation Commission), through Labor Arbiter Hernandez already ruled that the claim of Mr. Navarro has no basis. As such, Mr. Navarro was acting under false pretenses,” Philodrill said in its description of the legal proceeding.
On Feb. 1, Philodrill said the decision of the labor arbiter had been reversed and set aside by the Fourth Division of the NLRC after an appeal filed by Mr. Navarro.
A new decision ordered Philodrill to pay the complainant special retirement pay amounting to P17.839 million. Mr. Navarro had claimed special retirement benefits amounting to P19.893 million, profit share of around P1.392 million and litigation expenses of at least P2.128 million. He had also claimed moral and exemplary damages amounting to P20 million.
Philodrill believes these claims are without basis, as Mr. Navarro has been paid his full retirement benefits in accordance with the company’s approved retirement plan. It also said he had executed a quit-claim document.
On Feb. 8, Philodrill said it had filed a motion for reconsideration on the decision of NLRC’s Fourth Division. — Victor V. Saulon

Germany cheers for end to Deutsche Bank’s Goldman Sachs pursuit

DEUTSCHE BANK AG’s management upheaval may be the final blow to the embattled lender’s ambitions to go head-to-head with Goldman Sachs Group Inc. in international investment banking, and that’s just fine for many in Germany.
With veteran Christian Sewing appointed chief executive officer as the emergency replacement for out-of-favor John Cryan, businesses serving international clients and trading an array of exotic securities look set to be scaled back. Focusing on lending to German companies at home and abroad would be welcome after three turnaround plans in less than three years.
“Germany doesn’t need an investment bank in the image of Goldman Sachs,” said Ingrid Arndt-Brauer, a Social Democrat lawmaker who chairs the finance committee in German parliament. “German companies and consumers need a bank that’s focused on the core business of lending that secures the German economy and partners with companies internationally.”
Dialing back its ambitions in global investment banking would be an about-face for Germany’s biggest lender after it sought support just three years ago to become more like Goldman Sachs. Crushing competition at home and repeated blows to its reputation in the US ensured that it never realized those goals. Cryan failed to inspire staff and investors in his ability to turn around the bank, leading Chairman Paul Achleitner to sound out potential replacements before settling on Sewing to bring calm.
“Sewing’s appointment is in my view a signal that investment banking will no longer be dominant,” said Hans Michelbach, a lawmaker from Chancellor Angela Merkel’s bloc. He expects Deutsche Bank to focus on retail banking and financing for the German economy, especially working with small- and medium-sized companies.
EXPORT ROOTS
The bank has struggled to recover from the financial crisis that exploded a decade ago, and recent restructuring efforts have been slow to bear fruit. The stock has fallen by more than half during Cryan’s tenure and trades at about a third of the value of its assets, compared with JPMorgan Chase & Co.’s multiple of more than 1.5 times. While Deutsche Bank’s US and UK operations are most at risk in a tighter focus on Germany, the country’s export strength means an international footprint is valuable.
“Germany needs a bank that will continue to be one of the most important players globally,” said Andreas Meyer, who manages about 1.4 billion euros at Aramea Asset Management in Hamburg, including holdings of Deutsche Bank subordinated bonds. “I don’t think that pulling out of investment banking is on the cards for Deutsche Bank, given its culture and direction.”
Deutsche Bank was set up in 1870 to promote trade for Germany, opening offices in London, China and Japan within its first years of existence. Catering to retail as well as corporate customers became a key part of Deutsche Bank’s German identity. But as it expanded in recent years into more far-flung and exotic markets and services, it racked up over $17 billion in fines and damages for misconduct.
TOP POTENTIAL
Sewing’s background in retail banking suggests the lender may intensify its focus on Germany. As Deutsche Bank’s international business struggled, domestic operations gained importance, accounting for 37% of group revenue last year, compared with 27% in 2007. While the company has launched a wide-ranging review of its investment banking division, dubbed Project Colombo, it’s merging its two domestic retail units, abandoning previous plans to sell the Postbank subsidiary.
Sewing, who has experience in risk management and audit and has never worked directly for the investment bank, is keen to have a roughly balanced revenue share for the bank from its two core units, according to people familiar with this thinking.
“Deutsche Bank has a chance to be under the top five or top 10 global investment banks, only if they re-concentrate on the very strong German market,” said Klaus Nieding, vice president of shareholder advisory DSW, said in an interview with Bloomberg TV. Germany is “the ultimate strength of Deutsche Bank.” — Bloomberg

PHL financial system among complex in the world

How PSEi member stocks performed — April 10, 2018

Here’s a quick glance at how PSEi stocks fared on Tuesday, April 10, 2018.

Pushing for an Open Data Law for Disaster Management

Recently, the Stratbase-ADR Institute hosted a multi-sectoral roundtable discussion on Dr. Mahar Lagmay’s Special Study, entitled: “Open Data Law for Climate Resiliency and Disaster Risk Reduction.”
To stress the importance of having open data law, Dr. Lagmay opened his presentation by recalling the circumstances of the 2006 landslide in Guinsaugon, Southern Leyte that resulted in a total of 1226 fatalities.
As he recounted, a teacher was still texting that she was with around 400 children in an elementary school buried after the landslide. What is horribly disturbing is that these people were not given a fighting chance to survive because the key to locating them got entangled in our bureaucratic processes. According to Dr. Lagmay, the only hope for the rescue team to get to the buried school was through GPS coordinates, which were then not readily available. As if no lives are at stake, hundreds at that, crying for help beneath the massive mud, the GPS coordinates were secured on the 7th day from request of data.
This sparked Dr. Lagmay’s initiative to advance the passage of a law that will ensure availability of all government data related to climate change adaptation and disaster risk reduction such as: weather data, aerial photos, satellite imagery, LiDar, exposure data, flood maps, landslide maps, storm surge hazard maps, fault, earthquake data, GPS, gas measurements, leveling measurement, volcano hazard maps, and other earthquake hazard maps.
Dr. Lagmay posited that the prospective open data law must mandate compliance to the key elements of Open Data, which are: “1) availability in digital format of data, downloadable via the Internet in bulk for ease of use; 2) amenability to intermixing with other datasets through interoperable format structure and machine-readability of digital files; 3) freedom to use, reuse and redistribute, even on commercial basis; and 4) a ‘no conditions’ rule on the use of Open Data, except for appropriate citation for due credit.”
Essentially, the argument for making government data open is said to be “based on the concept that goods and services that should be freely available to everyone as determined by society, must be made available as free data for ‘the public good.’” Dr. Lagmay stressed that, “While these services to collect and make available the data are not actually free, they are, nonetheless, funded with public money.”
After presenting the paper, the reactions made by government officials from relevant agencies were both encouraging and enlightening.
In particular, Assistant Secretary for Policy, Kris Ablan, of the Presidential Communications Operations Office, divulged that the government is trying to attain a goal of proactive disclosure and sharing information from the government to the public.
In navigating said direction, however, Asec. Ablan described the main challenges to be both cultural and technical.
open data
For one, he observed the seeming reluctance of agencies to share data. It became apparent that reasons range from protecting intellectual property to apprehension over data being “misinterpreted” to the detriment of the general public.
For another, Asec. Ablan indicated the incapacity of government websites to hold significant amount of data, such as the Freedom of Information’s limited space of only 10mb per file for uploading.
Meanwhile, Director Maria Teresa Garcia, head of the National ICT Governance Service of the Department of Information and Communications Technology, mentioned their efforts to pass of a law on open data, through the E-Government Bill. Dir. Garcia also propounded the challenge of being able to effectively communicate the concept of open data to legislators to gain full understanding of the policy.
From a civil society perspective, Engr. Ludwig Federigan, executive director of the Young Environmental Forum, expressed full support for Dr. Lagmay’s policy proposition. He underscored the importance of an open data law by citing studies showing how the Philippines is highly ranked as a vulnerable country in terms of climate change and climate risk.
For Engr. Federigan, legislating a law on open data in climate change adaptation and disaster risk reduction strengthens the commitment of the country to the Paris Agreement.
To address the issue of whether there is a need for a law to attain the disaster management objectives, institutionalizing open data, to begin with, will give flesh to two State policies, to wit:
“It shall be the policy of the State to enjoin the participation of national and local governments, businesses, nongovernment organizations, local communities and the public to prevent and reduce the adverse impacts of climate change and, at the same time, maximize the benefits of climate change”; (Climate Change Act) and,
“Adopt a disaster risk reduction and management approach that is holistic, comprehensive, integrated, and proactive in lessening the socioeconomic and environmental impacts of disasters including climate change, and promote the involvement and participation of all sectors and all stakeholders concerned, at all levels, especially the local community”; (Philippine Disaster Risk Reduction and Management Act).
Moreover, an open data law is crucial, at least in this regard, to be able to surmount the challenges concerning technical capacity, culture in the bureaucracy and, more importantly, accountability. Vast resources of the government must be mobilized to improve the digital infrastructure and instill openness in handling data. Lastly, only a law can provide penal sanctions for lost lives due to withholding or practically making unavailable government data.
 
Lysander N. Castillo is an Environment Fellow of Stratbase ADR Institute and serves as Secretary-General for the Philippine Business for Environmental Stewardship (PBEST).

Data privacy update: The Annual Security Incident Report

The National Privacy Commission (NPC) recently extended the deadline to submit the Annual Security Incident Report for all security incidents occurring in 2017, to June 30, 2018. The NPC had previously issued the Guidelines on Security Incident and Personal Data Breach Reportorial Requirements under NPC Advisory No. 18-01 (“Guidelines”) along with templates for the required reports.
However, the NPC is currently revisiting these Guidelines and templates and recently announced that it is planning to further simplify the requirements for the annual report and align them with those of other privacy regulations on international data flows such as the General Data Protection Regulation (GDPR) and APEC-Cross Border Privacy Rules (CBPR).
Nonetheless, the NPC also noted that Personal Information Controllers (PICs) who already submitted their report based on present guidelines would be considered as sufficient for the year by the NPC.
Under NPC Circular No. 16-03 on Personal Data Breach Management, the NPC requires a company to document adverse events that have an impact on the availability, integrity, or confidentiality of personal data, even if these adverse events prove unsuccessful. These events are defined in the Data Privacy Act of 2012 (DPA) as security incidents.
Both the Personal Information Controller (PIC) and the Personal Information Processor (PIP) are required to document all occurrences of security incidents and personal data breaches (those covered by the mandatory notification requirements and those not covered by such requirements), and submit an Annual Security Incident and Personal Data Breach Report to the NPC. This is due by the end of the first quarter of the succeeding year.
While the NPC is in the process of simplifying the requirements for the annual report, its recently issued Guidelines may prove instructional for PICs and PIPs with respect to the contents of the Annual Security Incident Report as well as the mandatory notification and reports for Personal Breach.
cybersecurity
Under the Guidelines, and as previously provided under NPC Circular No. 16-03, the Annual Security Incident Report consists of the following:

• Summary of Annual Security Incident and Personal Data Breach Reports containing the following information:

• The summary must contain the following information, collated at the end of every calendar year: (i) total number of security incidents and personal data breaches (reportable and non-reportable); (ii) total number of security incidents; (iii) total number of reportable personal data breach, i.e., mandatory notification required; and (iv) other personal data breaches, i.e., non-reportable breaches.

• Total number of Security Incidents that do not involve personal data, classified according to Attack Vectors, including, among others, denial of service, compromise information (which does not involve personal data), compromise asset, unlawful activity, internal hacking, external hacking, malware, e-mail, policy violations.

• Total number of Reportable and non-reportable personal data breaches, classified according to their impact on the Confidentiality, Integrity or Availability of the Personal Data affected.

• Summary Information of the incidents surrounding the personal data breach/es. The summary of personal data breach/es must be based on the entries in the Personal Data Breach Report/s.

What is interesting is that under the Guidelines, the NPC introduced for the first time the concept of attack vectors. While this term is not actually defined in the Guidelines, a simple internet search reveals that in the tech community, attack vectors are commonly known as techniques or methods by means of which unauthorized access can be gained to a device or a network by hackers for nefarious purposes (see https://www.techopedia.com/definition/15793/attack-vector).
Based on this definition, and as demonstrated by the attack vectors enumerated in the template for the Annual Security Incident Report, PICs and PIPs should not only be concerned with security incidents involving personal data.
Thus, the NPC has previously stated that “a cyberattack that successfully uncovers industrial secrets that do not involve the processing of personal data may be considered a security incident (NPC Press Release on “NPC sets March deadline for submission of 2017 Annual Security Incident Report of personal information controllers” dated Jan. 4, 2018).
What appears to be most important, apart from maintaining the security, integrity and confidentiality of personal data, is the overall security and protection of an entity’s systems and infrastructure, whether or not such systems process personal data.
This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.
 
Maria Isabel M. Llave is Senior Associate of the Intellectual Property Department (IPD) of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).
mmllave@accralaw.com
(02) 830-8000.

On serving and dying for one’s country

Last Saturday, April 7, over two dozen surviving Filipino World War II veterans and the next of kin of those who had passed away gathered at the Golden Gate Club in the grounds of the historic Presidio in San Francisco to be given recognition and conferred honors that had been denied to them for over seven decades.
Each surviving veteran and close kin received a bronze replica of the Congressional Gold Medal, the highest civilian award within the power of the United States government to give its most illustrious citizens and those non-citizens who had rendered outstanding service to America.
My wife, Gigi, and her sister, Lourdes Uy, received the replica on behalf of their father, the late Jose Sambajon Nobleza, who had fought as a guerrilla captain in Albay during the Japanese occupation.
They were the second batch of honorees to receive the replicas, the first batch having been honored in solemn ceremonies in October last year in Washington DC.
The original gold medal will be on permanent display at the Smithsonian in Washington DC.
The conferment was the result of intensive lobbying with the US Congress by aging veterans, veterans advocates, and the Filipino Veterans Recognition and Education Project (FilVetsREP), a volunteer group led by US Army Major Gen. Antonio Taguba (Ret.) specifically organized for the purpose of gaining the coveted recognition.
The fact of giving the old soldiers, personally or posthumously, an honor long overdue was heart-warming enough, but what made my hair stand on end was when the military band played the service song, a medley of songs of the Marines, the Navy, the Air Force and the Army, and the sight of the uniformed military personnel present at the event who stood at attention.
And when the program was concluded with a bugler playing Taps, the final salute for fallen men-at-arms, I actually felt a tear falling down my cheek.
Most of the veterans were too old and too weak to stand at attention, although they did sit up straight, chests out, in their seats and wheelchairs. I rose to my feet and stood at attention, too, although I knew that I was just an onlooker and a beneficiary of the heroism of the old soldiers and the prospective sacrifices of the uniformed men and women in the room.
It is during rare moments like that when one is confronted by the stark and brutal realization that the young uniformed men and women standing at attention were listening to a bugle call that would be played for some or for all of them over their graves; the humbling realization that the old soldiers who had hobbled or were wheeled into the ceremonial hall were survivors from Hell, an inferno that many of us have been spared and may already be taking for granted.
In a message sent by US Army Chief of Staff Gen. Mark Milley, he pointed out that the first recipient of the Congressional Gold Medal was George Washington. It was conferred on him in 1776 by the Second Continental Congress.
“Since then,” Gen. Milley continued, “only 160 individuals, groups and organizations have been deemed worthy enough of this prestigious award by Congress. The Congressional Gold Medal, enacted into law and signed by president Obama in December 2016 has been awarded to the more than 260,000 Filipino soldiers who fought under the red, white and blue of the United States flag during World War II. This medal is a symbol of the unwavering loyalty and dedication to the defense of a nation in the face of daunting odds.”
In fact, this Congressional Gold Medal for Filipino soldiers is also a symbol of the unwavering quest for honor and recognition — indeed, a quest for justice — denied them after the war with the passage of the Rescission Act of 1946. That ignominious act of the US Congress discriminated against the Filipino fighting men and rendered meaningless their wartime services.
It is also a symbol of the continuing efforts of veterans advocates, among them FilVetsREP, the Bataan Legacy Historical Society, the Veterans Equity Center, and many other selfless volunteers, working for no pay and no recognition, to honor those who were willing to offer their lives in defense of the country.
Among their current objectives is the inclusion of the role played by the Filipino soldiers in World War II in the US school curriculum. This is about to succeed in California. But the ultimate goal is to include this story of courage and heroism in the curriculum of every state in America
I once described as The Second Death March the uphill struggle to gain “veterans equity” — meaning, veterans benefits — for Filipino War II veterans.
Last Saturday, as I witnessed the modest ceremony of handing over medal replicas, I realized that the Second Death March is still being endured — but the injustice is being perpetrated, not just by the government of the United States (which has, at least, allocated cash benefits for veterans and approved the Congressional Gold Medal) but by many of us who have benefited from the sacrifices of the old soldiers but have not expressed our gratitude.
It is an injustice of omission rather than commission.
Toward the conclusion of the awarding ceremony, envelopes were passed around and an appeal was made by the organizers of the event for financial support for the efforts of the Bataan Legacy Historical Society and FilVetsREP to pursue their self-imposed mission.
The initial funding for the first batch of bronze medal replicas is about to be exhausted. Thousands more veterans and their next of kin need to be given their medal replicas, with each one costs $52. The US Congress only allocated funds for the minting of the original gold medal. The replicas have to be paid for from private community contributions.
Additionally, expenses need to be defrayed for creating the lesson plans that would include the story of Filipino soldiers in the school curriculum.
Raising the money has not been easy. It really takes being in a room where Taps, the final bugle call, is being played and uniformed men and women are standing at attention for one to realize the a contribution of $52 isn’t much compared to the sacrifice that our soldiers have made and must make for the country.
One line in the epic poem, “The Charge of the Light Brigade,” comes to mind: “Ours is not to reason why. Ours is but to do and die.”
And to those to whom I am directing this appeal, allow me to add: “Ours is not to do and die. But ours is to, at least, appreciate the sacrifices of those who do.”
 
Greg B. Macabenta is an advertising and communications man shuttling between San Francisco and Manila and providing unique insights on issues from both perspectives.
gregmacabenta@hotmail.com

SC hears oral arguments on Sereno

THE SUPREME COURT began hearing arguments on Tuesday on a government bid to invalidate the appointment of the court’s top judge, whom President Rodrigo R. Duterte on Monday called an “enemy” who needs to be removed.
Chief Justice on leave Maria Lourdes P.A. Sereno’s fellow high court judges will decide on the merits of arguments for and against a petition, referred to as a “quo warranto,” by the government’s chief lawyer, Jose C. Calida, for alleged violations in the appointment process.
In their respective opening arguments, both Ms. Sereno and the government tackled the timeliness of the quo warranto petition and the validity of this remedy, among other contentions.
“The Solicitor General argues also the Supreme Court can take cognizance of the quo warranto petition against… the (V)ice-(P)resident. Then it should follow that the Supreme Court should also take cognizance that quo warranto petition against the Chief Justice. But that is a plain non sequitur. The power of the Supreme Court to take cognizance of the quo warranto petition against the President, the Vice-President, rests on express provision under the Constitution, which makes the Supreme Court the sole judge of contest involving the elections qualifications… of the (P)resident and the (V)ice-(P)resident. There is no part of that provision in the Constitution that gives the Supreme Court the power to remove a… sitting justice of the Supreme Court,” the opening statement of Alex Poblador, lead counsel of Ms. Sereno, went in part.
“An impeachable officer like the Chief Justice cannot be removed except by impeachment, which means that she cannot be removed by any other method,” the statement also read, adding:
“The less-travelled road that the Solicitor General proposes to take does not exist. What he actually proposes to do is to build a new one, one that lies, however, on a very slippery slope because it will set a very dangerous precedent and destroy the independence of the judiciary and the separation of powers.”
Mr. Calida argued in part that Ms. Sereno “was not a person of proven integrity at the time of her appointment” and “committed a misrepresentation in order to be shortlisted by the Judicial and Bar Council” on the matter of her unfiled Statements of Assets, Liabilities and Net Worth.
“Sereno cannot ignore this inflexible requirement and shroud herself with the doctrine of presumption of regularity. The presumption of regularity attaches only to official acts and not to all acts of officials,” Mr. Calida’s opening statement went in part.
Ms. Sereno, the country’s first woman chief justice, is facing challenges on several fronts. She has gone on leave to prepare for possible impeachment proceedings.
Mr. Duterte makes no secret of his dislike of Ms. Sereno, who has voted against several of Mr. Duterte’s controversial proposals, including extending martial law in Mindanao and allowing the remains of the late dictator Ferdinand E. Marcos to be buried in the cemetery for national heroes. But Mr. Duterte has, until Monday, denied instigating attempts to remove her.
Ms. Sereno has until now refrained from blaming Mr. Duterte but directly questioned his intentions in a speech on Monday.
“Mr. President, if you have no hand in this, why did Solicitor-General Jose Calida, who reports to you, file the quo warranto?” she asked. “Surely, you must explain this unconstitutional act.”
Within a few hours a furious Mr. Duterte lashed out at Ms. Sereno and indicated he was ready to use his influence over Congress to remove her.
“I’m putting you on notice that I’m your enemy and you have to be out of the Supreme Court,” he told reporters before heading to an Asian leaders’ forum in China.
Congress returns from a recess next month and will convene for a plenary vote on the impeachment complaint accusing Ms. Sereno of failure to fully declare her earnings, among other charges.
If passed, an impeachment trial will be conducted in the Senate, with its 22 members sitting as judges. — main report by Reuters

At Boao forum, 10 Chinese firms express interest to invest in the Philippines

The Philippine government signed at least 10 business letters of intent (LoIs) from Chinese companies in Boao, Hainan Province, People’s Republic of China on Tuesday, April 10.

In a social media post, the Presidential Communications Operations Office (PCOO) said Department of Trade and Industry (DTI) Undersecretary Rowel S. Barba “signed the business letters of intent on behalf of the Philippines with the representatives of the following China companies – Shanghai GeoHarbour Group, Jovo Group Co. Ltd. Guangdong, Zhongfa Group, Haocheng Group, China Green Agriculture Group, East-Cloud Biz Travel Ltd., China National Heavy Machinery Corporation, Sinohydro Corporation Limited and Pan Pacific Renewable Power Phils. Corporation, Shanghai Shinehigh Biotechnology Ltd. Co. and Zheijiang Dongyang Jinxin Chemical Co. Ltd., and Sino BMG.”

The President, the PCOO also said, “witnessed the signing ceremony of the said LoIs after attending the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2018.”

In his speech, Mr. Duterte said he “acknowledge(s) the job opportunities that will be created by Chinese investments now and in the years to come and their role in promoting inclusive growth, of encouraging entrepreneurship among the Filipinos.”

He added: “I stress the Philippine government’s commitment in bringing good governance and maintaining order to ensure an enabling environment which will allow businesses and investments to thrive and prosper.”

“Allow me to mention again the efforts to improve the climate of doing business, to promote ease of doing business and to show the goodwill and sincerity of my country vis-a-vis with our new relationship with China.”

The President also emphasized the Philippines government’s commitment to address corruption, that corruption will not be tolerated under his watch. – – Arjay L. Balinbin

Couple in P900-M ‘bitcoin scam’ nabbed

By Minde Nyl R. dela Cruz
THE Criminal Investigation and Detection Group (CIDG) arrested a couple allegedly responsible for a multi-million scam involving bitcoin.
The suspects, Arnel and Leonady Ordonio, registered owners of NewG company, were apprehended in an entrapment operation on April 4 in Vigan City, Ilocos Sur. They were charged with syndicated estafa before the Office of the Special Prosecutors for amassing P900 million from more than 50 victims in the said scam operated via social media.
The couple had allegedly promised victims of this scam from around the country 30% return of their investments after 16 days, with P90,000 to P160,000 as capital.
Sa una ibibigay niya muna (earnings), first at saka second. After that, mawawala na siya. This is a simple case ng estafa at saka pyramiding kasi meron silang upline, may downline,” CIDG Police Director Roel B. Obusan said in a press briefing on Tuesday.
(Initially they will give the earnings, the first and the second. After that, they disappear. This is a simple case of estafa and pyramiding because it has upline and downline).
One of the victims, a resident of Malolos City in Bulacan, said she and her relatives invested P29 million after she was invited by a trusted friend. She and her husband invested P4 million in November last year, but began to have doubts about the scheme last December when her upline failed to give her earnings.
“We were able to talk to Arnel Ordonio through Facebook Messenger…and he promised P3 million every five days para lang mabalik yung kapital (to return the capital). So nung hindi na natupad ‘yon, humingi na kami ng tulong from (PSUPT. Heryl L.) Bruno of PNP Malolos para makarating na sa sitwasyon na ‘to,” Ms. Maglunot said. (When that did not happen, we sought the help of [PSUPT. Heryl L.] Bruno of PNP Malolos which led to this situation).
Another victim said she and others were threatened for being negligent about their upline. “Gusto lang po naming malaman kung may makukuha pa kami (We just wanted to know if we can still get anything back),” she said.
The suspected couple, as presented by the police, kept silent.
Mr. Obusan said the Ordonios do not have any connection with bitcoin but merely used that term to solicit from the victims.