Philippines climbs six notches on WEF financial development ranking

The Philippines ranked higher at the Global Financial Development Index 2011 released by the World Economic Forum (WEF), thanks to the boost from the country's nonbanking services and financial markets. Download the full report

The jump to No. 44 this year from No. 50 last year highlights the gains made in the insurance sector, as well as the advances noted in the domestic capital markets, whose depth and width has broadened.

The Philippines was the biggest gainer among members of the Association of Southeast Asian Nations included in the index.

The country also improved its overall score to 3.13 points in 2011, up 0.17 points from 2.96 points in 2010. The increase in its score made the Philippines among the top 10 biggest gainers in the index.

"The Philippines improved significantly over the past year, moving up an impressive six spots in the index. Financial intermediation remains an area of strength for the Philippines as its nonbanking financial services and financial markets continue to develop," the report said.

The index measures financial development of countries through seven pillars, such as institutional environment, business environment, financial stability, banking financial services, nonbanking financial services, financial markets and financial access.

The Philippines's highest rankings were in nonbanking financial services (No. 20, with a score of 2.53 points) and in financial markets (No. 33, with a score of 2.04 points).

The WEF also paid tribute to advances the Philippines and its regulators made in such fields as securitization, where new investment instruments are carved out of a pool of assets; or in the field of mergers and acquisitions, where the Bangko Sentral ng Pilipinas has made significant progress in reducing the number of banks and financial institutions and transforming them into leaner but stronger entities able to compete with some of the best in the region.

Nevertheless, the Philippines failed to convince the WEF that the local business environment was as conducive to doing business compared with other countries in the region. The lowest rankings of the country were in business environment where it was ranked No. 55, and in financial access (No. 50).

Philippine regulators are some of the first to admit that some key sectors of the economy could benefit from greater competition from foreign players but so far, these have been kept beyond the reach of overseas interests that have the financial clout and economies of scale to provide greater efficiency levels translating to lower cost for Filipino consumers.

The country's relative lack of physical infrastructures such as grains silos or farm-to-market roads, for example, also help keep the Philippines a fairly expensive place to commit long-haul investments, according to the WEF.

"Its business environment and financial access continue to hinder its development. A weak business environment is the result of lack of infrastructure and an extremely high cost of doing business. Other impediments include limitations in financial access in areas such as foreign direct investment and the total number of ATMs," the report stated.

Hong Kong overtakes US, UK  

"Hong Kong Special Administrative Region overtakes the United States and the United Kingdom to top the World Economic Forum's fourth annual Financial Development Report. As the first Asian financial center to achieve this rank, Hong Kong's position was bolstered by strong scores in non-banking financial services such as IPO activity and insurance," the WEF said.  

The Financial Development Report "aims to provide a comprehensive means for countries to benchmark various aspects of their financial systems and establish priorities for improvement. It is published annually so that countries can benchmark themselves and track their progress over time." 

For the various index components, the 60 countries were rated using a 7-point scale with 7 being the highest value. The Philippines' 44th ranking was the result of an overall rating of 3.1 out of a highest possible 7.0.

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Philippine Navy Launches BRP del Pilar & BRP Tagbanua for Spartlys

The country's largest warship will be deployed in the West Philippine Sea before Christmas to guard the country's borders, a Navy officer said yesterday.

Speaking at Navy headquarters in Manila, Navy Capt. Alberto Cruz, commanding officer of BRP Gregorio del Pilar, said they are awaiting orders from the military leadership on the ship's deployment.

"It will be deployed within this month, before Christmas. This will secure the territory of the Philippines," Cruz said.

Cruz said the ship's travel time from Manila to the West Philippine Sea would be about 24 hours.

The ship's crewmembers were selected from various naval units, he added.

Cruz said the sailors manning the ship are part of the Navy's "cream of the crop."

"The crewmembers will spend Christmas inside the ship," he said.

The Navy commissioned the Gregorio del Pilar at Pier 13 in South Harbor, Manila at 10 a.m. yesterday.

It is the country's first Hamilton-class cutter.

President Aquino witnessed the commissioning of the Gregorio del Pilar, which was acquired from the US Coast Guard early this year.

Aquino also led the commissioning of the BRP Tagbanua, a landing craft utility that is 100 percent Filipino made and the BO105 helicopter donated by the Tourism department.

Three of Aquino's sisters served as principal sponsors of the two ships and aircraft.

This was in line with a tradition of tapping females to serve as sponsors of maritime assets to be commissioned.

 

BRP Tagbanua - Philippines' locally made ship

Navy officials and the principal sponsors broke a bottle of local basi wine on the ships' bows for good luck and smooth voyage.

In other countries, bottles of champagne are used for the ceremony.

Basi, made of sugarcane, was also poured on the newly commissioned BO105 helicopter.

Navy chief Vice Adm. Alexander Pama said the Gregorio del Pilar is "the symbol and icon of our capability upgrade and modernization program."

"The (BRP Gregorio del Pilar) will now steam as the vanguard of your Navy as she now leads our fleet in fulfilling our obligation to secure our maritime nation's territorial integrity and sovereignty and protect our exclusive economic zone," he said.

"All these have become a reality for us only because of the obstinate desire of our President and Commander-in-Chief to provide your Navy with the necessary wherewithal to perform its missions and functions."

Aquino's elder sister Maria Elena "Ballsy" Cruz served as the principal sponsor of the warship.

Early this year, the government acquired its first Hamilton-class vessel from the US Coast Guard to enhance the military's external defense capabilities.

The 380 feet-long vessel Gregorio del Pilar was acquired under the US Foreign Military Sales program.

The ship's transfer cost was pegged at about ₱450 million and was bankrolled by proceeds from the Malampaya funds.

The Navy also commissioned the Tagbanua, a locally built Navy landing craft utility named after an indigenous group in Palawan.

Navy spokesman Lt. Col. Omar Tonsay said the ship is primarily designed to transport combat personnel, tanks, vehicles and cargo.

The government spent ₱180 million from the military's modernization funds for the ship, which was manufactured by shipbuilder Propmech.

Presidential sister Victoria Elisa "Viel" Dee served as the principal sponsor of the ship.

Robert Cursod Jr., leader of the Tagbanua tribe after which the ship was named, was present during the ceremony.

Also commissioned yesterday was a BO105 helicopter named Philippine Navy Helicopter 422.

The helicopter was donated by the Tourism department's Tourism Infrastructure and Enterprise Zone Authority last August.

Tonsay said the helicopter is ready for deployment after the Naval Air Group undertook a few repairs. Presidential sister Aurora Corazon "Pinky" Abellada served as principal sponsor of the helicopter.

In the same event, the Navy renamed the presidential yacht Ang Pag Asa (hope) to Ang Pangulo.

The yacht was renamed "to continue the heritage and carry the honor and prestige of the Philippine presidency."

The Ang Pangulo has been the presidential yacht since the time of President Diosdado Macapagal and was originally named RPS Roxas.

5 new choppers

The Navy is set to acquire five new helicopters next year.

Marine Col. Ariel Caculitan, Naval Air Group commander, said acquisition of the helicopters is already on the pipeline.

"The acquisition of the additional five helicopters is a big lift to our naval air capability," he said.

The Navy has 10 operational fixed wings air assets, four of which are trainer planes, six islanders and three helicopters, he added.

Caculitan said the five helicopters will be deployed on board two Hamilton-class cutters which the Navy is acquiring from the US in the first quarter and second quarter next year.

Dellosa orders reforms

New Armed Forces chief Lt. Gen. Jessie Dellosa has ordered his troops to continue undertaking reforms in their financial system and to implement security plan Bayanihan and disaster response measures.

Armed Forces spokesman Col. Arnulfo Burgos Jr. said yesterday Dellosa issued the directives during his first command conference as chief of the 120,000-strong military last Monday.

"He (Dellosa) asked the commanders to continue the reforms started by (former military chief) Gen. (Eduardo) Oban," he said. "He said we should continue enhancing our financial and logistics system."

Burgos said Dellosa outlined his four priority areas during the command conference, namely the internal peace and security plan Bayanihan, disaster preparedness, territorial defense and organizational reforms.

The command conference was held immediately after Dellosa assumed as military chief in Camp Aguinaldo, Quezon City, he added.

The meeting only lasted for about 30 minutes, Burgos said.

Dellosa was installed as the 43rd chief of the Armed Forces last Monday.

During his assumption, Dellosa vowed to continue adhering to the principles of Bayanihan by engaging with civilian stakeholders.

"Many efforts are now being focused on poverty, social injustice, and graft and corruption," he said.

"In this aspect of work, it should be clear that the role of your AFP is not to lead but to support.

"To further ensure that we achieve the desired end state, we shall vigorously engage all stakeholders, especially the local chief executives in affected areas."

Dellosa also stressed the need to prepare for climate change and other natural hazards.

"We shall enhance our commitment to cushion the effects of climate change by envisioning a very comprehensive approach on disaster preparedness, enjoining all local community assets and human resources," he said.

Dellosa also vowed to continue upgrading the military's capabilities to protect the country's territory and sovereignty.

"Development of navy and air force bases and facilities to efficiently respond to untoward incidents is something we can no longer ignore," he said.

He also promised to work for the realization of the Philippine defense reform and to improve AFP's structure to achieve a lean and capable active force.

Meanwhile, Dellosa witnessed on Monday the turnover by the Philippine Amusement and Gaming Corp. of P4.5 million in financial aid to three Army hospitals.

Army spokesman Maj. Harold Cabunoc said the assistance would be used to acquire equipment for the Army General Hospital in Fort Bonifacio, Kuta Major Cesar Sang-an Station Hospital in Zamboanga del Sur and Camp Siongco Station Hospital in Maguindanao.

"The new hospital equipment that will be purchased will greatly improve the delivery of health services for the Army personnel," said Col. Mariano Mejia, commanding officer of the Army General Hospital.

Aquino and Army chief Maj. Gen. Emmanuel Bautista were also present during the turnover of the financial assistance.– With Aurea Calica

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Philippines & China Send Warship to Disputed Seas

The tensions is fueled again for China vs. Japan, Taiwan, Philippines, South Korea, Vietnam and ASEAN Nation

Breaking News: The Philippines has relaunched an U.S. Coast Guard Hamilton Cutter Class as its biggest and most modern warship to guard potentially oil-rich waters that are at the center of a dispute with China.

President Benigno Aquino III witnessed the commissioning of the 3,390-ton Philippine navy frigate BRP Gregorio del Pilar in an austere ceremony Wednesday (December 14, 2011)  that he said symbolized his country's struggle to modernize its underfunded military despite many obstacles.

Aquino said the Philippines cannot guard its territorial waters and islands "with dilapidated vessels and old and faulty equipment."

The newly repainted warship can carry a surveillance helicopter and is mounted with anti-aircraft guns. The navy says it will be deployed near contested waters in the South China Sea.

China sends patrol ship to disputed waters

China has sent its largest patrol ship to the East China Sea to guard the country's territorial rights, state media said Wednesday (December 14, 2011), in a move likely to fuel tensions over the disputed waters.

China has repeatedly locked horns with its neighbors Japan and Taiwan over a group of uninhabited islands -- called Senkaku in Japan and Diaoyu in Chinese -- which Beijing claims are in its territorial waters.

Japan and Taiwan also claim sovereignty over the area, which is believed to be rich in oil and gas.

The 3,000-tonne Haijian 50 began its maiden voyage on Tuesday, the Global Times reported, citing the head of the East China Sea branch of the country's marine law enforcement agency.

The vessel will visit Rixiang Rock, Suyan Rock and the offshore oil and gas fields of Chunxiao and Pinghu, as well as China-Japan joint development zones, Liu Zhendong was quoted saying.

The Chinese-made vessel is equipped with the country's "most advanced marine technology and is capable of accommodating China's Z9A helicopters", the report said.

It will conduct joint patrols with the Haijian 66, a 1,350-tonne ship deployed in March.

Disputes over the East China Sea and South China Sea have intensified recently, with Chinese President Hu Jintao earlier this month urging the navy to prepare for military combat and a US campaign to assert itself as a Pacific power.

Several Asian nations have competing claims over parts of the South China Sea, believed to encompass huge oil and gas reserves, while China claims it all.

Separately, Beijing and Seoul are involved in a dispute over the Yellow Sea, where a South Korean coastguard was stabbed to death by a Chinese fisherman this week.

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‘God particle’: Scientists close in on evidence How God Created the Universe

Dec. 13 (Bloomberg) -- Scientists at the European Organization for Nuclear Research have narrowed the range where the hypothetical "God particle" created at the beginning of the universe may be found, closing in on evidence of its existence.

The particle, also known as Higgs boson, most likely has a mass in the region between 116 and 130 gigaelectronvolts of energy being studied by one research team and between 115 and 127 gigaelectronvolts under observation by another team, according to data presented today by the Geneva-based research institute. Independent measurements point to a range of 124 to 126 gigaelectronvolts, researchers said.

The Higgs boson, named after U.K. physicist Peter Higgs, in theory allows other particles to have mass. Finding the Higgs boson could be a gateway to discovering new physics, such as superparticles or dark matter, part of the universe's building material that went missing at the beginning of time. While the scientists found "tantalizing hints" of the particle, it's too early to say whether it exists, the scientists said.

No Conclusions

"We cannot conclude anything at this stage," said Fabiola Gianotti, a spokeswoman for the institute's ATLAS experiment, one of the two research teams. "We need more study and more data. We will not need to wait long for enough data and can look forward to resolving this puzzle in 2012."

Scientists at the research institute, also known as CERN, are using the Large Hadron Collider, a 27-kilometer (17-mile) circuit of magnets running under the French-Swiss border, to smash beams of atomic particles and record the resulting collisions. The researchers have been creating conditions as close as possible to the so-called Big Bang that formed the universe 13.7 billion years ago in their search for the Higgs boson.

"Higgs bosons, if they exist, are very short-lived and can decay in many different ways," CERN said in a statement. "Discovery relies on observing the particles they decay into, rather than the Higgs itself."

Both groups exclude a broad range of possible Higgs masses, from 115 to 600 times the weight of a proton, Lawrence Sulak, chairman emeritus of Boston University's physics department, said via e-mail.

Significant Hints

"The significance of the hints reported today could turn into proof beyond a doubt come next October," Sulak said.

If the researchers don't find the particle by the end of next year, they will exclude its existence, Rolf-Dieter Heuer, director-general of CERN, told reporters in Geneva in October. Failing to find the Higgs boson would lend credibility to alternate theories that explain the mechanism that allows particles to have mass.

The results of further experiments will have implications for theories on dark matter, which makes up about 23 percent of the universe. Such research could help scientists gain a better understanding of the universe and how galaxies hold together, according to CERN.

CERN said in September that an experiment showed a neutrino beam appears to have moved faster than the speed of light. The finding, if confirmed, would contradict Albert Einstein, who said nothing can exceed light speed.

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Comelec Chair - Abalos Jailed for Electoral Fraud - ordered by Gloria Arroyo

Former Elections Chairman Benjamin Abalos, center, walks out of a regional trial court after surrendering with his lawyers Tuesday, Dec. 13, 2011 in suburban Pasay City, south of Manila, Philippines. Police arrested Abalos who has been charged with elections fraud with already-detained former President Gloria Macapagal Arroyo. (Pat Roque / AP)

(AP)  MANILA, Philippines — Police arrested the Philippines' former elections chairman Tuesday on charges he aided the vote fraud allegedly ordered by former President Gloria Macapagal Arroyo.

Former Elections Chairman Benjamin Abalos surrendered to a Manila regional trial court in suburban Pasay city and was placed under arrest, police Supt. Samuel Turla said. He will be held in a police detention facility, unlike Arroyo, who is under arrest in a government hospital.

Police took his fingerprints and mugshots before detaining Abalos at a regional police headquarters in the capital, Turla said.

Abalos said he surrendered to underscore his innocence to charges that he played a role in rigging 2007 senatorial elections to ensure the victory of Arroyo's candidates in a Muslim autonomous region then governed by her political ally.

President Benigno Aquino III succeeded Arroyo last year after a landslide election victory due in part to his promise to fight corruption and crushing poverty. He has blamed Arroyo for a decade of scandals that eroded public trust in government and held back foreign investment.

Arroyo, 64, has denied any wrongdoing and accused her successor of using "black propaganda" to damage her image. She was arrested last month at a private hospital and later was moved to a public veterans' hospital amid calls for her to be treated like other crime suspects.

Indonesian Foreign Minister Marty Natalegawa, who arrived in Manila Tuesday for talks with Aquino and his counterpart, Albert del Rosario, said that by strongly dealing with past cases of corruption, countries like the Philippines would discourage future cases of graft.

"You can only deter future possible acts of corruption if you're seen to be robust in dealing with the past," Natalegawa said in a news conference, adding he was glad that the Philippines, like his country, was taking steps to root out graft.

On Monday, Aquino's allies in the House of Representatives impeached Supreme Court Chief Justice Renato Corona on eight complaints of alleged corruption and that court he led improperly favored Arroyo. She appointed him chief justice shortly before her presidential term ended last year.

Corona vowed to fight back. Senate President Juan Ponce Enrile said Corona is likely to face trial there in January after Congress returns from a monthlong Christmas break.

Aquino thanked lawmakers Tuesday for impeaching Corona.

"We are now going through a process to stop the continued destruction by a wayward magistrate of the sacred institution that is the Supreme Court," Aquino said.

But Supreme Court spokesman Midas Marquez called Corona's impeachment "an assault on all the rights, power and privilege of the entire judiciary," which he said was being "forced to surrender its constitutionally mandated powers and functions to the whim and caprice of political machinations."

___

Associated Press writers Teresa Cerojano and Oliver Teves contributed to this report.

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Miriam Santiago wins International Criminal seat

Feisty Philippine Senator Miriam Defensor Santiago has "overwhelmingly" won a seat in the highly powerful International Criminal Court, according to the Department of Foreign Affairs (DFA) Tuesday (December 13, 2011).

DFA said Santiago is the first woman from an Asian developing state to join as a judge in the Netherlands-based international court.

ICC is an "independent, permanent court that tries persons accused of the most serious crimes of international concern, namely genocide, crimes against humanity and war crimes," according to the court's website.

Santiago reportedly topped the poll's first round, effectively gaining a seat with 79 votes out of 104 valid votes, which DFA said was "an indication of the strong support from States Parties."

DFA noted that to be elected, candidates must receive two-thirds majority of the total number of votes cast, mostly States Parties voting.

"She was the first to be elected out of 18 candidates vying for six seats on the Court.  For the first round of voting, she bested candidates from every region," DFA said in a statement.

"This is the message that we emphasized in the campaign.  We are pleased that the international community has listened to us.  Indeed, it is a new day for the Philippines, a day of pride for our country and a day of honor, knowing that this is a tremendous responsibility and mandate placed upon our compatriot," DFA Secretary Alberto del Rosario said.

Sen. Santiago recently went on a four-month campaign to get States Parties' support.

In October, Santiago said she would be resigning from the Senate should she win a seat in the International Criminal Court.

"I'll have to resign [as senator]. Isn't that good news for my enemies? I would have to live in The Hague. I will look like a European and speak like a European and I will be as snooty as a European when I come back," she reportedly said.

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Philippines: UN relief official in funding appeal for displaced in Mindanao

Big Family is still common in the Philippines as said to be this tropical country is a good breeding place for both human and animals and a haven of baby boomer in the world. Heavy rains in the Philippines in June 2011 left scores of homes like this one in Cortabato City, Mindanao, inundated with water

12 December 2011 – A senior United Nations relief official today called for a surge in financial support to provide humanitarian aid to hundreds of thousands of people driven from their homes by conflict on the Philippine island of Mindanao.

At the launch of the Philippines (Mindanao) Humanitarian Action Plan 2012, Jacqui Badcock, the UN Humanitarian and Resident Coordinator for the Philippines, appealed for $38 million in funding as part of the UN's ongoing efforts to provide emergency relief, protection and livelihood support to those in Mindanao affected by conflict and natural disasters.

"The situation remains fragile, and the people continue to live in fear and uncertainty," Ms. Badcock warned in Manila. "Our goal is to help them rebuild their lives as quickly as possible," she added.

The UN estimates that 680,000 people in central Mindanao are in urgent need of humanitarian aid, with new displacements continuing to occur as a result of sporadic armed fighting and the compounding effects of severe flooding caused by heavy seasonal rains.

"We have strengthened our needs assessment and analysis, and expanded programmatic and geographic areas where organizations work more cohesively," Ms. Badcock said.

"This will help level the imbalances and ensure a more seamless response to the complex needs of the people in Mindanao," she added, further noting that early and sustained donor funding was "critical" to the success of the action plan.

As of 11 December, the 2011 action plan had received 54 per cent of the required support with slow and imbalanced funding being a major concern. The 2012 action plan seeks $38 million to cover 30 projects over the next 12 months.

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Japan lawmaker eyes Military base on China-claimed islands

Nobuteru Ishihara (pictured in 2008), sometimes seen as a future prime minister if his Liberal Democratic Party returns to power, on Monday said that Japan should look more broadly at stepping up defense spending in the face of a rising China, during his visit to the United States

Japan should consider building a military base on islands disputed with China to counter Beijing's rising assertiveness, a leader of Japan's opposition said on a visit to the United States.

Nobuteru Ishihara, sometimes seen as a future prime minister if his Liberal Democratic Party returns to power, on Monday said that Japan should also look more broadly at stepping up defense spending in the face of a rising China.

Asia's two largest economic powers dispute control of a set of uninhabited islands -- known as the Senkaku in Japanese and the Diaoyu in Chinese - where Japan's arrest last year of a Chinese fishing captain led to a standoff.

Ishihara, secretary general of the conservative opposition party, said that Japan should move "quickly" to put the islands under public control. Tokyo considers most of the area to be privately owned by Japanese citizens.

"Following this change, a port should be developed where fishing boats may take refuge," Ishihara said at the Hudson Institute, a Washington think-tank.

"I further believe that we must seriously begin contemplating the establishment of a permanent post for the Self-Defense Force in this area," he said, referring to officially pacifist Japan's armed forces.

Japan said in 2008 that it reached an agreement with China for joint development of potentially lucrative gas fields near the disputed islands. But the deal has gone nowhere, with China saying its stance has not changed.

Prime Minister Yoshihiko Noda's Democratic Party of Japan - which swept out the long-ruling Liberal Democrats in a 2009 election -- has mostly sought smooth ties with China, which says its growing military spending is for peaceful purposes.

Noda asked Chinese President Hu Jintao for movement ahead on the 2008 deal during talks last month on the sidelines of an Asia-Pacific summit in Hawaii, although Japanese officials said Hu was non-committal.

But Ishihara said that China has become "assertive, one may even say aggressive," in recent years and pointed to its actions in separate maritime disputes with the Philippines, Vietnam and other Southeast Asian nations.

"Emboldened by its new economic weight and growing military might, China's proclamations of its 'peaceful rise' appear more and more at odds with the emerging reality," Ishihara said.

Ishihara, 54, is the son of Tokyo Governor Shintaro Ishihara, an outspoken nationalist who has often caused controversy by urging Japan to develop nuclear weapons and to be less dependent on its alliance with the United States.

The younger Ishihara distanced himself from his father's positions, calling for close ties with Washington and saying that his party's current leadership has not discussed seeking nuclear weapons.

Ishihara, however, said that Japan should consider boosting its overall defense budget which has long been equivalent to one percent or less of the economy.

Ishihara, leading a delegation from his party, was in Washington partly to ease concerns over the opposition's stance on the Trans-Pacific Partnership, a proposed Pacific Rim trade pact championed by President Barack Obama.

Noda announced last month that Japan would enter talks but has faced strong opposition from farmers worried over foreign competition and threats of a censure motion by the Liberal Democrats, who consider the countryside a key political base.

Ishihara said that discussions on the Trans-Pacific Partnership were "at the starting line" and that Japan's government must do all it can to address public concerns and ensure food security.

"We would like to understand what the US wants to get out of the TPP. If it's an effective tool to establish a free trade zone for the Pacific that benefits both the US and Japan, that would be reason to pursue it," he said.

"But if we cannot identify enough merit for Japan and the US, then maybe we should pursue another way to establish a free trade zone," he said.

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Chief Justice Corona Impeached - betrayal of public trust and violation of constitution

The Philippine Congress impeached the country's chief justice on Monday (December 12, 2011) as allies of President Benigno Aquino lined up behind his drive to root out corruption.

Chief justice Renato Corona has been tagged as the "Chief of injustice" of the Philippines after bending his integrity just to save his treated lord who is jail now for electoral sabotage former president Gloria arroyo.

The Executive body and the Judicial body has been in battle after Justice Renato Corona show his face to face and bias full support to the former President Gloria Macapagal Arroyo.

Chief Justice Renato Corona is illegally installed in his position as midnight appointee  by the former President Gloria arroyo a week before Aquino win the election which is unconstitutional base in the Philippines law.

80 to 90% of the people of the Philippines are at full support to the Aquino administration's "right path" and to drive out corruption of the country.

A total of 188 members of the 285-seat House of Representatives lower house signed an impeachment complaint against Chief Justice Renato Corona on the grounds that he betrayed public trust and violated the constitution.

Aquino accuses Corona and the court of bias in favor of former President Gloria Macapagal Arroyo, the focal point of the president's campaign to eliminate graft.

Corona will go to trial in the Senate upper house next year. Before the outcome of the parliamentary vote was disclosed, he vowed to fight on and uphold the court's independence.

Legal officials suggest an impeachment could pitch the country into a battle between the executive and the judiciary.

But the president's allies saw the vote as an important moment in exposing what they see as his predecessor's endemic corruption.

"This is an important step in holding former president Gloria Macapagal Arroyo accountable for her crimes against the people," Teodoro Casino, a leftist member of Congress, said in a statement.

"We need to hold (the chief justice) accountable for the long list of anti-people rulings he supported to favour his patron, Arroyo."

Arroyo, president in 2001-2010 and now a member of Congress, appointed Corona as chief justice a week after last year's election that voted Aquino in but before he actually took power.

Arroyo is under guard at a hospital after her arrest on charges of electoral sabotage. She denies the charges and her lawyers have asked the Supreme Court to overturn an arrest warrant against her.

Corona is the first member of the judiciary to be impeached, but lawmakers believe he may resign to avoid embarrassment. In April, the head of the anti-graft agency, an Arroyo ally, resigned after she was also impeached in Congress.

Aquino, son of venerated former president Corazon Aquino, remains popular 18 months after being elected and hopes public opinion will place an additional burden on Corona to quit.

The president says the Supreme Court has blocked efforts to pursue Arroyo after it ruled against the creation of a truth commission on her activities in office.

The court also overturned a travel ban imposed by the government on the former president as she was about to fly out of Manila airport for medical treatment.

The leader of a small opposition bloc, Edcel Lagman, said the government had offered various funds as inducements to persuade lawmakers to support the impeachment motion.

Aquino's allies disputed the allegations.

Hours before the impeachment vote, the chief justice talked about a "secret plan to oust me from office by any means fair or foul", threatening to destroy democratic institutions.

"I want you to know that your chief justice continues to be in command and will lead the fight against any and all who dare to destroy the court and the independence. We shall not meekly walk away," Corona told a gathering of court employees.

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New Philippine military Chief will prioritize on Spratlys protection

 

Philippines' President Benigno Aquino III (L) and newly installed Chief of the Armed Forces of the Philippines Lieutenant General Jessie Dellosa salute during the Armed Forces of the Philippines Change of Command ceremony at Camp Aguinaldo in Quezon City, Metro Manila December 12, 2011. The Philippine Catholic Church and military, the two most powerful institutions in the country that have helped topple two previous leaders, installed new heads on Monday as acrimony over investigations into another former president intensified. REUTERS/ Cheryl Ravelo (PHILIPPINES - Tags: POLITICS MILITARY)

MANILA, Philippines (AP) - A battle-scarred general took leadership of the underfunded Philippine military Monday, vowing to bolster his country's external defense so it could adequately respond to "untoward incidents" amid territorial disputes in the South China Sea.

The 125,000-member Philippine military, one of Asia's weakest, has been struggling to modernize its dilapidated air force and navy and train its forces due to a lack of funds. President Benigno Aquino III recently said he would seek modern fighter jets from longtime ally Washington when he visits next year.

Army Lt. Gen. Jessie Dellosa, who took over the military leadership in austere ceremonies led by Aquino on Monday, said recent developments in the South China Sea - obviously referring to renewed territorial spats in the potentially oil-rich region  have made upgrading external defenses inevitable for the Philippines.

"It compels us to look into our maritime security deeply," Dellosa said in his speech. "Development of navy and air force bases and facilities to efficiently respond to untoward incidents is something we can no longer ignore."

Dellosa formerly was an army combat officer and was wounded twice while battling Muslim guerrillas and al-Qaida-linked militants in the southern Philippines. He also led an elite unit that helped Aquino's mother, the late pro-democracy Philippine leader Corazon Aquino, subdue coup attempts.

Filipino soldiers march in honor of new Philippine Forces Chief Lt. Gen. Jessie Dellosa during the turnover-of-command ceremony Monday Dec. 12, 2011 at the Armed Forces headquarters at suburban Quezon city, northeastern Manila, Philippines. Gen. Dellosa is the 43rd armed forces chief in the history of the Philippine military. (AP Photo/Bullit Marquez)

Dellosa replaced Gen. Eduardo Oban Jr., who focused on battling graft and corruption in the military during his stint. Dellosa said he would also wage "an all-out-war" against military corruption.

Already spread thinly while dealing with raging Muslim and communist insurgencies, the military began to focus on external defense especially after Filipino officials accused Chinese government vessels of repeatedly intruding into Philippine-claimed territories in and near the South China Sea's disputed Spratly Islands in the first half of the year.

Philippine and Vietnamese authorities also accused Chinese vessels of trying to sabotage oil explorations within their territorial waters, an allegation Beijing has denied.

China, the Philippines and Vietnam, along with Taiwan, Malaysia and Brunei claim the South China Sea and its cluster of islands, islets, reefs and coral outcrops partly or in its entirety. The region is believed to be sitting atop vast deposits of oil and natural gas and also straddle busy sealanes.

The South China Sea has long been regarded as Asia's next flashpoint for conflict.

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Chinese Illegal poaching After the Philippines then Korea

A body of a South Korean coast guard officer is carried by his colleagues at a hospital

SEOUL, South Korea (AP) — A Chinese fishing boat captain stabbed two South Korean coast guard officers Monday, killing one and injuring the other, after his boat was stopped for illegally fishing in South Korean waters, officials said.

The Chinese captain pulled an unidentified weapon after officers from two coast guard ships boarded the fishing boat over suspicions that it was illegally operating in Yellow Sea waters rich in blue crabs, anchovies and croaker, coast guard spokesman Kim Dong-jin said.

A South Korean officer stabbed in the side was taken by helicopter to a hospital in the port city of Incheon but later died, Kim said. Also brought to the hospital were an officer stabbed in the abdomen, who was to undergo surgery, and the Chinese captain, who had minor injuries from the fight, he said.

South Korea's Foreign Ministry summoned China's ambassador in Seoul later Monday and lodged a strong protest over the fight.

2 weeks past, Chinese illegal fishermen captured in the Philippines for illegally poaching endangered sea green turtle and now detained in Palawan. The same incident happened year past and with court charges on progress when they pouched sea green turtle with the tag of the University of the Philippines in the West Philippines Sea near the Spratly Islands.

Last week in South Korea, Foreign Ministry officials said they asked the ambassador to make efforts to prevent illegal Chinese fishing from undermining bilateral ties.

Also last week, South Korean authorities raised fines levied on foreign fishing vessels caught operating in Seoul's self-declared exclusive economic zone, an apparent reflection of Seoul's impatience with a rising number of Chinese boats found fishing in the waters.

"Eradicating Chinese boats' illegal fishing in our waters is a most urgent task to safeguard our fishermen and fisheries resources," South Korea's Yonhap news agency said in a recent editorial. "The government should mobilize every possible means and continue the crackdown on illegal fishing."

Besides the captain, eight other Chinese fishermen on the boat were arrested and taken to Incheon, the coast guard said in a statement.

The coast guard says it has seized about 470 Chinese ships for illegal fishing in the Yellow Sea so far this year, up from 370 last year. The coast guard usually releases the ships after a fine is paid, though violence occasionally occurs.

Chinese fishing fleets have been going farther afield to feed growing domestic demand for seafood.

In 2008, one South Korean coast guard officer was killed and six others injured in a fight with Chinese fishermen in South Korean waters.

Last year, a collision between a Chinese fishing boat and Japanese coast guard vessels led to a diplomatic spat between the countries over disputed islands in the East China Sea.

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Philippines deemed Better-positioned than others to face Global Risks

THE GLOBAL economy faces continued risks -- particularly from a mild recession in Europe and slowing growth in China - but the Philippines and some other countries should be able to better weather these pressures with support from strong domestic demand, Barclays Capital said in its report for this month, titled: "Global outlook: a cautious step forward."

The Philippines is also one of the countries that "can afford" to ease monetary policy in order to prod economic activity in the face of a global slowdown, the investment banking unit of Barclays Bank PLC said in its separate The Emerging Markets Quarterly 2011 report, also for this month, titled: "Glass half full -- take a sip."

Both reports were released before European Union (EU) leaders meeting in Brussels announced on Friday that they had committed to stricter budget rules but failed to agree to enshrine such controls in a treaty.

"Prospects for avoiding either a double-dip recession or a catastrophe surrounding the euro area debt crisis have improved somewhat over the past couple of months," Barclays Capital noted.

At the same time, it said that while risks of a double-dip recession and "a disaster scenario" for the euro zone have subsided, "there are significant headwinds to growth both in developed and emerging market countries, and the solution to the euro area debt crisis will be bumpy and difficult."

Barclays Capital said failure by EU authorities to deal promptly with the region's debt crisis has already done some damage to their economies.

"We now believe that a mild recession has begun, with negative growth in Q4 and Q1 [2012], before stabilization next spring," it said.

But while "risks of a sharper or more extended contraction are significant" Barclays Capital said "a severe European recession is likely to be avoided, especially if there is progress toward a resolution of the crisis."

"With increasing confidence that the next move in growth is up in most of the world outside of the euro area and diminished risks of disaster in Europe, the probability of a global recession has declined significantly," it added.

At the same time, it clarified that risks to the global economy do not come from Europe alone.

"Europe is the dominant risk in markets today, but it is not the only one," the report read.

"We raise China not because it is the largest, but because it is likely to play out in the near future."

While it said a pronounced economic slowdown in China was "quite unlikely", a particularly weak 6.6% growth Barclays Capital has projected for the first quarter next year could intensify market doubts over the depth and duration of that giant's growth deceleration.

"We think it is a bit early to feel confident that anxiety about the Chinese slowdown has peaked…," the report read.

In the face of "a mild recession in Europe and a soft landing in China," Barclays Capital said "growth in India, Malaysia, Thailand and the Philippines will likely hold up better, given their domestic demand" as compared to others in Asia and the Pacific.

The Philippine government reported late last month that gross domestic product growth slowed to 3.2% in the third quarter from 7.3% in the same period last year, supported by a particularly strong 7.1% annual growth in household spending.

But the 3.6% GDP growth in the nine months to September had all but put the government's 4.5%-5.4% full-year outlook this year out of reach.

Barclays Capital added that while inflation in so-called "emerging markets" is expected to ease next year, due largely to base effect, and monetary policy bias has shifted from controlling inflation to prodding growth, "we expect only China, India, Philippines, Indonesia and Thailand to cut rates next year."

In its last monetary policy review for the year last Dec. 1, the Bangko Sentral ng Pilipinas maintained policy rates at 4.5% and 6.5% for overnight borrowing and lending, respectively -- the fifth consecutive time it had done so -- but has signaled that it would be ready to ease its policy stance next year should the economy slow further and if inflation remains manageable.

Inflation rate has averaged 4.5% in the 11 months to November, still within the 3%-5% target range and just below the revised 4.53% forecast for the entire year.

Overall, faced with improved prospects for the global economy, Barclays Capital said, "We think it is time for investors to dip their toes in the water and begin to re-engage in measured and careful risk-taking.

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Philippines becoming International Healthcare Hub

By: Charles E. Buban

Philippine Daily Inquirer

Medical or wellness tourism is a term involving people who travel to a different country to receive treatment for a particular health condition or in other cases pursue activities that maintain or enhance their personal health and well-being to enjoy much lower cost of care, higher quality of care if not different care than they could get at their home country.

It is a huge global business—projected to reach $100 billion (₱4.32 trillion) by 2012.

From this figure, a total of $1.3 billion (₱56.2 billion) went to the Philippines from 2006 to 2010, thanks to foreign tourists and balikbayans who chose to get their healthcare and wellness services here.

Expensive medical treatment costs, as well as limited healthcare coverage in countries such as the United States and a number of countries in Europe, along with capacity constraints in these countries' healthcare facilities, are driving their citizens to seek elsewhere for more accessible, affordable and comparable medical and wellness services.

The Philippines wanted to grab a bigger share that is now being enjoyed by countries such as Singapore, Malaysia and Thailand.

During the 1st Philippine Global Healthcare Forum at the National Kidney and Transplant Institute, Health Secretary Enrique Ona acknowledged that the country already boasts world-class medical infrastructure and facilities (in fact, the top three tertiary hospitals located in Metro Manila even added hotel-quality facilities) as well as highly skilled and compassionate doctors, nurses and medical personnel.

Another advantage the secretary cited was the fact that the Philippines has the added competitive advantage of having English-speaking medical personnel.

Convened by HealthCORE, a private corporation specializing in healthcare research and communications and the official Philippine representative of National Accreditation Board for Hospitals and Healthcare Providers of India, the 1st Philippine Global Healthcare Forum discussed and exchanged information on how the Philippines, with the help of India, can develop into an international healthcare hub.

Medical tourism capital

India is regarded as the medical tourism capital of the world, offering the latest technological advances, experienced and expert physicians and surgeons and world-class patient care.

During the forum, India's Dr. Sanjiv Malik said the Philippines becoming a regional giant is something that is very achievable as the country already has a caring people.

"Your Filipino nurses, doctors and healthcare professionals give the highest level of caring and compassion to patients—it's in your DNA. What you need to do next is to modify your present healthcare practices and systems to conform with international benchmarks. When you do that, you are already on your way to providing the best healthcare to your people and to becoming an international healthcare hub," he advised.

He related that when India improved its international healthcare services, its entire healthcare sector also improved.

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"India was able to upgrade its healthcare system to international standards. As a result, both overseas patients and Indian patients are now receiving international quality health services and medical treatments at prices that are affordable to them," Malik said.

India and the Philippines are now working together under a memorandum of understanding to exchange knowledge, expertise and training in various areas of healthcare and medicine for their mutual benefit.

These areas include medical education, public health, hospital management, health tourism, drugs and pharmaceutical products, medical consumable products, medical equipment, communicable disease control and surveillance, and traditional and alternative medicine.

A much-improved medical tourism, forum guests acknowledged, will have immediate effect in improving the country's economy, much like the business process outsourcing industry is doing at the moment, while retaining its medical talents in the country and reducing the brain drain and its social and economic costs.

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