Author: Business News Asia

PANGASINAN, PHILIPPINES – Five kids were confirmed dead after drowning in a river in Barangay Hacienda, Bungallon, Pangasinan, authorities said. Police investigators said the kids were playing near the river and then decided to take a quick swim. The victims did not know that they have gone to a deep part of the river, causing them to drown, the police said. The victims were identified as siblings Rose Ann, Nelson Jr and Carlo Marco and their cousins identified as Christian Lee Salazar and Manuel Bugayong. It was not yet known if the kids were all by themselves while playing…

PANGASINAN, PHILIPPINES – Five kids were confirmed dead after drowning in a river in Barangay Hacienda, Bungallon, Pangasinan, authorities said. Police investigators said the kids were playing near the river and then decided to take a quick swim. The victims did not know that they have gone to a deep part of the river, causing them to drown, the police said. The victims were identified as siblings Rose Ann, Nelson Jr and Carlo Marco and their cousins identified as Christian Lee Salazar and Manuel Bugayong. It was not yet known if the kids were all by themselves while playing in…

MANILA, PHILIPPINES – The Philippine Supreme Court (SC) has dismissed with finality the petition filed by Cadet First Class Aldrin Jeff Cudia in relation to his dismissal from the Philippine Military Academy (PMA). SC spokesman Atty. Theodore Te said the high court denied the cadet’s motion for reconsideration that sought to reserve its February 24 decision, which affirmed Cuda’s dismissal from the PMA. The SC ruled that the PMA did not violate Cudia’s right to due process when it dismissed the cadet for lying. The SC found Cudia guilty of “quibbling” which constitutes “lying,” when he explained that he and…

MANILA, PHILIPPINES – Alleged pork barrel scam queen Janet Napoles has been found guilty of serious illegal detention and was sentenced to life imprisonment or at least 30 years in jail. The Makati Regional Trial Court Branch 150 convicted Napoles for detaining her cousin and former employee Benhur Luy for three months. Judge Elmo Alameda also ordered Napoles to pay P50,000 in moral damages and another P50,000 in civil damages. Luy charged Napoles in court after he was allegedly detained by Napoles, who found out that he obtained a P5.5-million loan using her name without her permission. Luy’s camp, however,…

MANILA, PHILIPPINES – After clocking 27 record finishes so far this year and breaking past the 8,100 level, the Philippine Stock Exchange (PSE) now eyes to break past the 9,000 level. The PSE expressed optimism that the local stock market will be able to break past the 9,000 level, which will be an all-time high. The PSE issued the statement as President Benigno Aquino III sounded the opening bell on Tuesday. In today’s early tarding, the Philippine Stock Exchange index (PSEi) opened at 8,081.61, higher by 8.39 points or 0.10 percent from the previous trading day. Meanwhile, strong corporate earnings…

MANILA, PHILIPPINES – The Armed Forces of the Philippines (AFP) is checking on reports that Bangsamoro Islamic Freedom Fighter (BIFF) founder Ustadz Ameril Umbra Kato died of natural cause. The unconfirmed report said Kato died Monday night in Maguindanao after suffering from stroke several months ago but the AFP only received the information Tuesday morning. AFP spokesperson Brig. General Joselito Kakilala said the AFP in Maguindanao is validating the said report and is still waiting for the confirmation report from the 6th Infantry Division. Kato reportedly suffered heart attack Monday night, resulting to his death, said Kakilala. The former commander…

MANILA, PHILIPPINES – Philippine authorities conducting an investigation into the milk tea poisoning that killed two people last week said the case was isolated and did not involve the ingredients in the milk drink. The Department of Health (DOH), in coordination with the Food and Drug Administration (FDA) and toxicologists from the UP-Philippine General Hospital (PGH), obtained and studied the footage from the food establishment to aid in assessing the clinical manifestations and course of illness of the victims. Samples of the milk tea ingested were also submitted for examination. “Preliminary results were negative for suspected toxic substances. However, we…

EASTERN SAMAR – At least five persons died while seven others were injured after a passenger bus collided with a passenger van Sunday night in Barangay Bagtic, Quinapondan, Eastern Samar, authorities said today. Police investigators said the four of fatalities died on the spot while a seven-year-old boy was rushed to the hospital but died on the way. The fatalities were identified as PO1 Lea Caores of Dulag, Leyte; Jodie Ann Malindong, 17; Rowena Malindog, 24, and Wendel Amande, of Gen McArthur, Eastern Samar. Initial investigation showed that the BLTB bus was on its way to Guiuan Eastern Samar when…

TOKYO, JAPAN – China, South Korea and Japan might be clashing on several political and territorial disputes but tourism leaders of the three countries are working together to promote East Asia. The tourism chiefs of the three countries have decided to launch joint tourism event aimed at attracting visitors beyond East Asia through the “Visit East Asia Campaign”. The three countries came up with the decision to launch the joint tourism event after holding the tourism ministers’ meeting in Tokyo, Japan. A joint statement issued by the tourism chiefs of the three countries said they will enhance cooperation and information…

The significant premium growth in the global takaful sector is expected to continue and reach USD 20 billion by 2017, with the majority of that increase originating from Malaysia and Saudi Arabia, according to a new A.M. Best special report. The Best’s Special Report, titled “Takaful Operators Struggle with Growth and Profitability,” also notes that despite the rapid growth of takaful on a global basis, it has struggled to take hold in Middle East markets, other than Saudi Arabia, which are considered to be concentrated with a few large players dominating their respective markets. The report contains an analysis of…

MANILA, PHILIPPINES – Two Chinese sailors were killed Sunday inside a Liberian-registered Chinese cargo ship when one of the vessel’s crew members allegedly ran amok and started stabbing those aboard the vessel, the Zamboanga Coast Guard said. The Coast Guard in Zamboanga said it received a call for assistance from the skipper of M/V Qing May, Sheng Bo Wang, around 4 a.m. Sunday as the vessel, owned by Foremost Group of China, made an emergency stop. Zamboanga Coast Guard commander Lt. Jr Grade Jimmy Berbo told reporters that the vessel’s eletrical engineer Liao Shie Ghou was taken off the boat…

TENNESSEE, USA – American rapper, singer and songwriter Nelly, whose real name is Cornell Iral Haynes Jr, was arrested by highway patrol troopers on drug charges in Tennessee Saturday, authorities said. The Tennessee Department of Safety and Homeland Security said Nelly was arrested after highway patrol troopers found drugs and handguns in the bus he was riding in. The bus was pulled over because it did not display the US Department of Transportation International Fuel Tax Association sticker, the department said in a statement. A Highway Patrol trooper said he conducted a search on the bus after he smelled marijuana…

ZAMBOANGA, PHILIPPINES – The Philippine Coast Guard (PCG) successfully rescued the 28 passengers and three crew of a small vessel that capsized in Barangay Aliguay, Dapitan City, Zambonga del Norte. The vessel was on to Dipolog City from Aliguay Island when it was battered by huge waves 30 minutes after it started sailing, said PNP Region 9 spokesman Dahlan Samuddin. Most of the passengers were medical representatives of a pharmaceutical company. They were from Ozamis City, the police said. Elements of the PCG, however, managed to immediately conduct a rescue operation that lead to the successfuly rescue of all the…

MANILA, PHILIPPINES – A Syrian national was arrested for allegedly recruiting Filipinos to work in the United Arab Emirates although he has no permit from Philippine authorities. The suspect, 31-year-old Abdulkarim Majed, fell into the hands of the elements of the Criminal Investigation and Detection Group (CIDG) in an entrapment operation along Roxas Boulevard. CIDG’s Senior Supt. John Guyguyon said Majed had been recruiting Filipinos to work in the UAE even if he does not have the necessary permit from the Philippine Overseas Employment Administration. The entrapment operation was launched after the Presidential Anti-Organized Crime Commission rescued four of his…

Scientists have recently discovered glaciers hidden under the surface dust of planet Mars that could produce water enough to cover the entire planet. The question now is if the glaciers that hold 150 billion cubic meters of frozen water can actually support life on the red planet. One scientist says there is a possibility. Researchers at the Niels Bohr Institute of the University Copenhagen calculated the size of the glaciers and thus the amount of water in the glaciers using radar observations combined with ice flow modeling. “We have calculated that the ice in the glaciers is equivalent to over…

MANILA, PHILIPPINES – The Bureau of Internal Revenue (BIR) of the Philippines has extended the electronic filing of income tax returns until June 15 of this year, the bureau said in a statement. The extension, however, is only for those who will file “no payment returns” as the BIR stressed April 15 is still the deadline for others. BIR Commissioner Kim S. Jacinto-Henares issued the instructions after holding an emergency meeting with revenue regional directors amid mounting complaints from taxpayers nationwide on the inaccessibility of bureau’s computer platform. Irate taxpayers noted that they can easily download the electronic tax forms…

MANILA, PHILIPPINES – Talk N Text clinched the best-of-five seminal series to face Rain or Shine on the finals of the Philippine Basketball Association (PBA) Commissioner’s Cup. The Texters secured to the ticket to the finals after beating Purefoods befor a big Saturday crowd at the Smart Araneta Coliseum. Talk n Text took the series 3-1 after a 79-66 victory against Purefoods Hotshots. Jayscon Castro scored 33 points, with 23 in the second half, helping the Texters rally from a 10-point deficit at the start of the second half. – BusinessNewsAsia.com

CEBU CITY, PHILIPPINES – An Australian national who was facing charges on Anti-Human Trafficking Law hanged himself to death inside his detention cell at the Cebu Provincial Detention (CPDRC) and Rehabilitation Center Saturday dawn. CPDRC Jail Warden Romeo Manansala said Hilton Reece Munro, 42, an Australian teacher, used his blanket in committing the suicide. Initial investigation showed that the Australian inmate killed himself due to alleged depression. Sources said the inmate was alone in his cell and had shown signs of depression due to the slow movement of his case. Munro was arrested in July 2013 and was charged over…

MANILA, PHILIPPINES – An unofficial statement released by one of the doctors who checked on the bodies of the two persons who died after drinking milk tea in Manila said there was no sign of cyanide or other strong chemicals in the victims’ throat. The doctor said there was a big possibility that the victims – milk tea shop owner William Abrigo and customer Suzaine Dagohoy – were killed by one of the ingredients of the milk tea they drank that day. A third victim, Dagohoy’s boyfriend Arnold Aydalla, is still recuperating in a hospital in Manila, the police said.…

MANILA, PHILIPPINES – An additional 140 Filipino workers from Yemen have returned to the Philippines Saturday afternoon as part of the Philippine government’s repatriation program. The 100 Filipinos from Yemen arrived at the Ninoy Aquino International Airport (NAIA) Terminal 3 at 3:40 p.m. Saturday onboard Cebu Pacific Flight 5J 741. The repatriated Filipinos were met by Foreign Affairs Secretary Albert del Rosario and officials from the Overseas Workers Welfare Administration (OWWA). On Saturday morning, 40 Filipinos from Yemen arrived in the Philippines as the government continues to urge those who are still in the conflict-torn country to immediately leave Yemen…