Author: Business News Asia

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…

MANILA, PHILIPPINES – Authorities said that the third person involved in the milk tea poisoning incident, which killed two persons, in Manila is now in stable condition. The police said Arnold Aydalla, one of the three persons who took a sip out of what authorities said was contaminated milk tea, is now in stable condition at a hospital in Manila. Aydalla survived the incident while his girlfriend, Suzaine Dagohoy, and milk tea store owner William Abrigo died in the hospital. Aydalla and Dagohoy ordered the Hokkaido-flavored milk tea prepared by the owner himself Thursday morning. Aydalla first took a sip…

SINGAPORE – Taiwan-based Fubon Futures Co Ltd has officially entered the Singapore Exchange (SGX) as the newest trading member in its derivatives market, the SGX said in a statement posted on its website. Fubon Futures, a wholly-owned subsidiary of Fubon Securities, is one of the leading broking firms that provides professional brokerage and clearing services in Taiwan. “We welcome Fubon Futures to SGX’s team of international trading members. With its new role, Fubon Futures will be better placed to serve customers seeking access to Asia,” said Chew Sutat, Hea of Sales and Clients at SGX. Sutat added that more customers…

MINDANAO, PHILIPPINES – Two areas in North Cotabato have been placed under state of calamity due to the effects of the El Niño phenomenon, authorities said Friday. Kabacan City and Kidapawan City in North Cotabato have been placed under calamity state due to the damages in agriculture and the series of grassfires that have damaged plantations and farms as a result of the severe dry spell. Prior to the declaration of a state calamity, residents in those areas have already urged the local governments for help due to the effects of the El Niño to their livelihood. North Cotabato Provincial…

QUEZON CITY, PHILIPPINES – The Philippine National Police (PNP) announced on Friday the arrest of a Bulgarian national who allegedly hacked several ATMs and stole thousand of dollars from victims, including the world’s richest man, Bill Gates. Konstantin Kavrakov, 31, a Bulgarian nationa, was arrested at an ATM terminal in Quezon City Thursday night while in the act of withdrawing money using an ATM card. Kavrakov is wanted in Paraguay and has been the target of the Internationa Police for his alleged involvement in the hacking of the ATM account of Bill Gates in 2011. The police said Kavrakov was…

MANILA, PHILIPPINES – The Bangko Sentral ng Pilipinas (BSP), the country’s central bank, said foreign direct investment (FDI) in the Philippines dropped by 71 percent in January 2015 to US$63 million. The amount was lower than the US$905 million net inflows registered in the sam period last year. All components recorded net inflows, particularly non-residents’ investments in debt instruments that were issued by local affiliates at US$167 million, accounting for the bulk of FDI during the reported period. Equity capital registered net inflows of US$25 million as equity capital placements amounting to US$53 million more than offset withdrawals of US$27…

MANILA, PHILIPPINES – The Department of Foreign Affairs (DFA) of the Philippines said there are still an estimated 458 Filipinos in Yemen despite the Philippine government’s efforts to repatriate them. The DFA again reiterated its call to Filipinos who are still in Yemen to sign up for repatriation while it is still possible to move them out of Yemen. “Once again, the DFA reiterates its call to all Filipinos remaining in Yemen to return to the Philippines as soon as possible,” the DFA said in a statement. A total of 413 Filipinos have been evacuated out of Yemen and about…

MANILA, PHILIPPINES – Former Senator and Philippine National Police Director Panfilo Lacson announced intention to run for president in the coming 2016 Presidential elections. However, Lacson stressed that his final decision will depend on how he will rank in presidential surveys in the coming months. “If you are asking if I have the intention, yes, I have the intention but my decision will depend on many factors which I am currently discussing with my old and new regional leaders, coordinators and volunteers,” Lacson said. In senatorial surveys, Lacson currently ranks high with 58.3 percent based on the latest Pulse Asia…

AUSTRALIA – Australian authorities have intercepted a shipment of 110-kilogram of ivory bound for Malaysia, the Australian Customs and Border Protection Service (ACBPS) said. The illegal shipment was intercepted while being trans-shipped through Perth en route to Malaysia last Sunday, authorities said today. In a statement, ACBPS regional commander WA, Rod O’Donnell, said Australia had some of the strongest wildlife protection laws in the world. “The smuggling of endangered wildlife and wildlife parts is a very serious issue and we are dedicated to shutting down this horrible and cruel trade,” he said. “This seizure shows Australia’s commitment to protecting the…

MANILA, PHILIPPINES – Former Senator and Philippine National Police Director Panfilo Lacson announced intention to run for president in the coming 2016 Presidential elections. However, Lacson stressed that his final decision will depend on how he will rank in presidential surveys in the coming months. “If you are asking if I have the intention, yes, I have the intention but my decision will depend on many factors which I am currently discussing with my old and new regional leaders, coordinators and volunteers,” Lacson said. In senatorial surveys, Lacson currently ranks high with 58.3 percent based on the latest Pulse Asia…

MANILA, PHILIPPINES – US Ambassador to the Philippines Philip Goldberg has reiterated the US government’s assurance that it will continue to stand “together, shoulder-to-shoulder” with the Philippines when it is threatened. Goldberg, who spoke during the 73rd commemorative rites of the Araw ng Kagitingan or “Day of Valor” at the Mount Samat National Shrine in Pilar, Bataan, said the Philippines will not stand alone against its enemies. “Make no mistake, as President (Barack) Obama said last year during his visit to Manila, our commitment to the Philippines under our Mutual Defense Treaty is ironclad,” he said. “In 2015, as in…

MANILA, PHILIPPINES – Two peopled died while one remains in critical condition after drinking what authorities believed was contaminated milk tea in Sampaloc, Manila. Authorities are now investigating the alleged milk tea poisoning following the incident involving Suzaine Dagohoy, 28, and her boyfriend Arnold Aydalla, 34. The Homicide Section of the Manila Police District said Dagohoy and Aydalla ordered Hokkaido milk tea at a tea house in Bustillos St. when the notice that odd taste of the milk tea. The two complained to the owner of the tea house, William Abrigo, 57, about the taste of the milk tea, prompting Abrigo…

CEBU CITY, PHILIPPINES – Therma Visayas, Inc., a subsidiary of Aboitiz Power Corp. (AboitizPower) and Vivant Corp. (Vivant), announced the commencement of the construction of its 340-MW thermal power plant in Toledo City in the Province of Cebu. The power plant, which will have a net capacity of 300 MW is scheduled for completion in early 2018. The notice to proceed to contractors was issued in March 2015. Benjamin A. Cariaso Jr., president and COO of Therma Visayas said the power plant is an answer to the need of Cebu and the Visayas for reliable base load power. “Cebu and…

MANILA, PHILIPPINES – Philippine President Benigno S. Aquino III has signed Proclamation No. 991, declaring 2015 as ‘Visit the Philippines Year’, as the country gears up for the hosting of this year’s Asia-Pacific Economic Cooperation (APEC) Forum. The proclamation, which was signed by the President last March 30, stated that the APEC Forum and the Association of Southeast Asian Nations Tourism Forum in 2016 will both promote the country as a host for meetings, conventions and exhibitions in the Asia-Pacific. Proclamation No. 991 also recognizes the need to consolidate the activities of the public and private sectors into one Calendar…

International financial services group Credit Suisse Group announced the appointment of John Knox as its new Australia CEO effective 1 May. In a statement, the bank said Knox, who will replace Rob Stewart, will also assume the position of sole head of investment banking in Australia. The bank said Stewart is leaving the bank to pursue other opportunities. Stewart, meanwhile, will report to Credit Suisse Asia Pacific CEO Helman Sitohang and will be tasked to drive Credit Suisse businesses in Australia across private banking, wealth management and investment banking division. Knox joined Credit Suisse in 1995 and was appointed the…

BANGKOK, THAILAND – One passenger died while a 12-year-old was still missing as a tourist boat in Thailand caught fire, causing it to sink near in the Andaman Sea off Thailand’s southwestern coast, authorities said. The missing girl was later identified as an Israeli national who was travelling with her family. The tourist boat Ao Nang Princess 5, owned by Ao Nang Travel Tour Co, was carrying 117 passengers, including 107 adults and 10 children, when it left Koh Phi Phi towards Nopparatthara Beach near Ao Nang. The vessel, however, caught fire at 3:30 p.m., said Police Col. Sompong Thip-apakul.…

SEOUL – An online survey showed that South Korean technology giant Samsung Electronics Co has overtaken its rival Apple Inc of the United States in terms of customer loyalty, Yonhap news agency reported. The survey, which polled 5,000 consumers in the last quarter of 2014, ranked Samsung first with 35 points while its archrival Apple only got 7 points. Samsung’s score also surpassed the industry benchmark of 19 points, said Survey Monkey, the company that conducted the online survey. The result of the survey, Yonhap reported, came as unexpected considering that there is reportedly a general view among industry experts…

MANILA, PHILIPPINES – Philippine power utility firm Manila Electric Co (Meralco) announced that electricity rates in April went up by Php0.25 per kilowatthour (kWh) as Malampaya shuts down its deepwater gas-to-power facility. Meralco stressed though that the electricity rates increase was lower than what was initially estimated. Even with the Php0.25 per kPw increase, a household consuming 200 kWh will see its April bills up Php10.68 per kWh. The rate is still lower compared to the P11.49 per kWh during the same month of last year, Meralco said. The rate increase in April was triggered by the adjustment in generation…