| PGMA visits the ''Big Board,'' witnesses MOU signing between NYSE and PSE |
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NEW YORK CITY -- Thursday, June 26 --- President Gloria Macapagal-Arroyo
visited today the New York Stock Exchange (NYSE) or the ''Big Board'' and
witnessed the historic signing of a Memorandum of Agreement (MOU) between
the world's largest stock exchange, on one hand, and Southeast Asia's oldest
stock exchange, on the other hand. New York Stock Exchange (NYSE) Euronext Chief Operating Officer Duncan Niederauer and Philippine Stock Exchange (PSE) Chair retired Supreme Court associate justice Jose Vitug signed the MOU that would hasten the transformation of the PSE into a premier world stock exchange as the agreement allows PSE to purchase new trading system technology from NYSE and its affiliates. In a broader perspective, the MOU establishes cooperation between the exchange companies to explore opportunities in trading system,architecture, technology,exchange traded products,market participation connectivity and market data management. Trade Secretary Peter Favila said the MOU, in the long run, would pave the way for the NYSE to put equities at the PSE. At the same time, PSE's access to funds would be easier. ''We welcome the opportunity to partner with Chairman Vitug and his colleagues. We are committed to the success of the alliance which will benefit and create growth opportunities for both markets and their respective customers,'' Niederauer said. ''This historic MOU will provide us a common base to explore together a whole new frontier of opportunities, from which we can reenergize our markets for future waves of growth,'' Vitug said. PSE President and CEO Francis Lim said: ''Each possible area of mutual cooperation identified in the MOU will hopefully serve as a guide in pursuing definitive agreements in the future.'' He added that the common goal of both companies is to provide investors worldwide protection and operating fair, orderly and efficient markets. The NYSE is the largest stock exchange in the world by dollar volume and with 2,764 listed securities, has the second most securities of all stock exchanges. |
| PGMA made honored member of Women Divers Hall of Fame |
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NEW YORK CITY – President Gloria Macapagal-Arroyo was elected today as an
honored member of the Women Divers Hall of Fame (WDHOF) for her outstanding
accomplishments in the field of marine conservation. WDHOF ranking officials led by its founder Dr. Hillary Viders and its president Martha Watkins Gilkes presented the President a membership plaque during a meeting with the Filipino community who came all the way from various parts of the United States Thursday at the Ballroom of the Hilton Hotel here. “As a scuba diver and a world leader, President Arroyo recognizes that a healthy marine environment is the foundation of a stable, productive society that can develop in a sustainable manner,” Viders said. Viders pointed out that the President has made an unprecedented strides to protect coral reefs throughout South Asia’s Coral Triangle. She said that President Macapagal-Arroyo has enacted a national conservation policy to protect the Philippines’ unique and rich marine resources. According to Viders, the President has likewise enacted in January 2005 a legislation declaring the second week of January of each year as the “Best Dives Philippines Week” promoting scuba diving with an emphasis on protection and conservation of the country’s underwater marine resources. At the same time, Viders noted that the President also signed Proclamation No. 1512 in May 2008, proclaiming the Month of June of every year as “Celebrate the Sea Month.” Viders described these proclamation as “truly a milestone” adding that this is the first time that nation of more than 80 million people has been called upon to celebrate the sea by its president. WDHOF is an international non-profit professional honor society that recognizes the top women divers in every area of diving: arts, science, medicine, sports, exploration, maritime archeology, media, service, dive training and education, safety, business, marine environment and conservation, free diving, commercial diving, and military diving. Founded in year 2000, WDHOF has 150 members from 30 U.S. states and territories and 13 countries worldwide. |
| Obama calls PGMA over the phone |
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NEW YORK CITY, June 26 -- The meeting between President Gloria Macapagal-Arroyo
and Democratic presidential candidate Sen. Barrack Obama may not have
materialized but they did have a few minutes of pleasant conversation over
the phone mid-afternoon today Thursday. Obama made the call at about 3 p.m. today while the President was in her presidential suite at the Waldorf Astoria Hotel here. The meeting was supposed to take place today in Washington but because ''the two of them had to be in different places at the same time, there was no opportunity for a personal visit,'' Press Secretary Jesus Dureza said in late night press briefing here. Obama was reportedly in Washington today with the Clintons while the President was here in New York to meet with possible investors and businesses already operating in the Philippines for expansion projects. ''The President was in high spirits after the call,'' Dureza said. ''I think from the assessment from the Obama camp, it would be better that a phone call be made rather than the President shuttling to and from New York and Washington. Substantially, Obama welcomed the President's visit to the US, ''recognizing the shared values that we have with the US,'' Dureza said. Obama, a strong supporter of the Veterans Equity bill, was aware that the President was pushing for its passage. The Democratic presidentiable also expressed concern and sympathy over the typhoon Frank tragedy. Dureza however made an assurance that the meeting between the President and Republican Presidential candidate John McCain would push through as scheduled on Saturday, June 28, Washington time, before the President flies back to Manila. |
| PGMA orders insecticide sealed off and search & rescue/retrieval operation suspended |
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President Gloria Macapagal-Arroyo has ordered the sealing-off of a 40-foot
container van filled with highly-toxic insecticide inside the cargo hold of
the capsized MV Princess of the Stars to prevent any contamination of
rescuers and nearby fishing communities. The Presidential directive was revealed by Deputy Presidential Spokesman Antonio Golez in an interview over Radio Station DZBB this morning. Golez – who further revealed that the National Disaster Coordinating Council (NDCC) had decided to suspend the Search and Rescue/Retrieval (SAR) operations -- added that President Arroyo also wants the container van retrieved so as to prevent any spill that poses grave danger to rescuers and possibly cause a fish kill: “… Si Presidente Arroyo ay nag-utos na sa ating mga iba’t-ibang kawani ng gobyerno to make sure that the area is going to be contained (so that) the contamination (if any) will not be spread.” “And hopefully na ma-retrieve iyong 40-foot container na iyan dahil naka-selyado na iyan. So ma-retrieve iyan para hindi na kumalat pa nag peligro na mukhang hinaharap natin ngayon,” concluded Golez. Golez -- who is also NDCC chief executive officer – said the SAR shall remain suspended until such time that the toxic cargo is finally retrieved. “Pinatigil na po ang search and rescue operations para dito sa MV Princess of the Stars… Dahil nalaman lang natin kahapon na ang MV Princess of the Stars mayroon palang kargamento na nagko-contain ng isang 40-foot container na… insecticide. “Ito pong insecticide na ito is highly toxic sa atin, sa mga tao at saka sa mga isda… Dapat itigil muna nila iyong kanilang ginagawang search and rescue… Huwag munang mag-dive sa ilalim,” said medical doctor Golez who added that the container has not yet been located. The insecticide-filled container inside the ill-fated ship’s cargo hold was not declared by Sulpicio Lines to authorities conducting the SAR, lamented Golez who said the NDCC found out about the cargo only from a letter of the Pesticide and Fertilizer Authority (FPA) to the Department of Transportation and Communication (DOTC). Golez said the grave omission by ship owner Sulpicio Lines is another ground to ground the remiss shipping line. “Isa po iyan sa tinitingnan namin na talagang kakasuhan natin ang management ng Sulpicio Lines because they withheld that information. Isang lingo nap o na hindi sinasabi sa atin na mayroon ganyang klaseng kargamento,” warned the NDCC executive director. |
| Filipino Equity Bill a ‘done deal’ in US Congress after PGMA’s appeal |
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WASHINGTON, DC --June 26 (via PLDT) -- Their heroic battlefield exploits
under the service of the Stars and Stripes ended 62 years ago with the
victory of the Allied Forces against the Japanese Imperial Army in the Far
East, but for Filipino World War II veterans, the struggle-- albeit, in
another front -- continues. Only the war zones have shifted from Bataan, Tarlac, Bukidnon, Bicol and other blood-soaked WWII battlegrounds in the Philippines to the ornate halls of the US Congress, where the Veterans' Benefits Enhancement Act of 2007 is fighting its own kind of battle. The VBEA, which incorporates the Filipino Equity Bill, seeks to expand the health, education housing and pension benefits of US veterans. The bill also provides for a special monthly $300 non-service disability to surviving members of the the Philippine Scouts and United States Forces in the Far East (USAFFE) living in the Philippines. Under the legislative measure, Filipino veterans living in the United States would receive the same monthly pension as WWII US veterans ranging from $900 to $1,400. The US Senate had voted in favor of the Veterans' Equity Bill by an overwhelming number of 96-1, but the legislative proposal has yet to hurdle the obstacle course at the US House of Representatives, where its fate hangs on the endorsement of 72 more US congressmen. The latest count of "yes" votes for the bill stands at 218, or 72 short of the required two-thirds vote of the House. But now, at last, support for the bill is gaining momentum. California Rep. Bob Filner, who, along with Rep. Darrel Issa and other friends of the Philippines, is shepherding the bill in the House of Representative, has expressed confidence that the proposal would hurdle the legislative gauntlet this year. In a moving appeal for equity for the Filipino veterans, President Gloria Macapagal-Arroyo called on the US Congress during her visit here this week to finally approve the legislative proposal, saying it is not "too late to honor the service of our fathers - American and Philippine - who fought for American and believed in the promise of American." In her address at the reception of the Philippine-US Friendship Caucus, and the Filipino community in Washington DC, the President reminded Americans of the heroism of the Filipino soldiers in World War II. "Filipinos served as US soldiers, fought side by side with Americans, and died under the banner of the Stars and Stripes. "They suffered through some of the most brutal acts of World War II, including the notorious Bataan Death March. Yet, they prevailed, and together we vanquished the enemy and brought freedom and human dignity back to Asia and the world." The President pointed out that for as long as the full measure of the Filipino soldier's sacrifice alongside his American comrade is not recognized by way of the approval of the veterans equity bill, so long will the history US-Philippine alliance remain incomplete. She thanked the leaders and members of the Philippine Caucus for leading the movement in the US Congress to give justice to the Filipino veterans of the last war. "It is time we honor the past as we build for the future. Equity for the Philippine Veterans of World War II is within our grasp. We thank you for keeping the faith. We hope we can find a way to set history on its proper course and do justice to the greatest generation," she said. The Philippine-US Friendship Caucus was officially launched here on Feb. 12, 2003 with bipartisan members of the US House of Representatives. The Caucus was initiated by eight US congressmen who wrote a letter in 2002 to the House of Representatives underscoring the "historically close and special relations" between the Philippines and the US. "The Philippines has had a historically close and special relations with the United States and has become (the US') closest active Asian ally in the war on terrorism," the Caucus members said in their "Dear Colleague" letter. |
| PGMA trip to New York: Advances RP economic and investment opportunities |
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NEW YORK CITY---President Gloria Macapagal-Arroyo starts her campaign here
to advance economic and investment opportunities in the Philippines that
would create more new jobs and sustain economic growth. Day One in New York, the President had several business meetings with ''Manhattan-based corporations to expand their investments in and trade with the Philippines and to add new jobs,'' the President said in her statement at the reception of the Filipino community here at the Hilton Hotel. ''During our trip, we are advancing key issues that impact on the Philippines, particularly during this time of global economic uncertainty, ''the President said. This morning, the President met with Vikas Kapoor of IQor, witnessed the signing of an agreement between Clark Freeport Zone and Berthaphil, and the memorandum of agreement between the New York Stock Exchange and the Philippine Stock Exchange. Then she would also meet with officials of Libbys Fruits, Rotec, Target Sourcing, APAC and Citi Group. Trade Secretary Peter Favila said Berthaphil, a business outsourcing company located at the Clark Freeport Zone agreed to support efforts to create the secondary development of the information technology after the primary infrastructures are in place. ''We told them to put up the facilities similar to Eastwood Cityin Libis so in the evening, these employees would have a place to eat and listen to music or what have you, ''Favila said. IQor, also a BPO company, would be expanding its 1,400 seats with another 800 seats while Libby's Fruits would be on canned pineapples from Camarines Sur. Libby's Fruits specializes in canned tropical fruits such as pineapple juice, canned guavas, red and yellow papaya, sliced mangoes, mandarin orange, among others. ''Libby's went to Camarines Sur for canned pineapples. I will help them initially through the National Development Corp. and then have an exit mechanism and get them some private local partners,' Favila said. Target Sourcing , a provider of high-quality, trend-right merchandise at an outstanding value for more than a thousand outlets, would want to get Philippine products for their outlets. ''it is more on trade--we will be selling to them our items,'' Favila said. Rotec, on the other hand, is an Australian-based company but has a design center at Silicon Valley. It is a world leader in the design and development of highly-efficient diesel engine technology. Favila said the Philippines is inviting Rotec to put up their facilities in the country. |
| PGMA thanks U.S. govt and citizens for their assistance to victims of typhoon ‘Frank’ |
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NEW YORK CITY – President Gloria Macapagal-Arroyo today expressed her
profound thanks to the United States government and the American people
including the Filipino-Americans for their immediate assistance to the
victims and families of the super Typhoon “Frank” that hit the country
recently and the ferry disaster. “The US was one of the first nations to offer assistance because we are such strong, dependable allies of each other,” the Chief Executive said in her speech before members of the Filipino community from various parts of the United States who were present during a meeting with them Thursday at the Ballroom of the Hilton Hotel here. The President said the US government immediately sent to the Philippines the USNS Stockham, two helicopters, a P-3 maritime surveillance aircraft, and a U.S. navy divers to assist in the rescue and recovery operations at the height of the super howler in the country. She said that the US government likewise sent the newest and largest Nimitz aircraft carrier, the USS Ronald Reagan plus the cruiser USS Chancellorsville, the destroyers USS Decatur, USS Gridley, and USS Howard, the frigate USS Thatch, and other supporting vessels including the aircraft on top of the carrier mainly to “assist in transporting cargo, aerial damage assessment, search-and-rescue, production and delivery of potable water, medical assistance and machinery repair.” “That is what a good ally does,” the President stressed. Saying that the Philippine-US relationship is strong, growing and mature, President Macapagal-Arroyo noted that there are now four million Americans of Filipino descent and 250,000 US citizens who live and work in the country. At a time of global tensions and economic uncertainty, the President emphasized that the ”two countries “remain steadfast allies and friends.” “Strengthening relations between the Philippines and the world, especially the U.S. is a central pillar of our strategy for economic growth and political stability,” the President said adding that the “strong economy that we are building today is helping us meet the challenges of the global surge in the price of fuel and food.” During her speech, the President reported that as of 6 pm of June 26, 2008, Manila time, the total number of affected population is 600,000 families in 4,000 barangays, 380 municipalities and cities in 45 provinces of Ilocos, Central Luzon, Southern Tagalog, Mimaropa, Bicol, Visayas, Northern, Southern and Central Mindanao, the National Capital Region, Autonomous Region in Muslim Mindanao and the Caraga Region. Spared by the typhoon are Cordillera, Cagayan Valley and Western Mindanao. The President gave all assurances that the government is doing everything to aid in the clean-up, provide disaster relief and bring comfort to the families of the victims. “We are also holding the ferry company accountable to ensure that “we find out how this ferry tragedy could have occurred/ so that we can take steps to make sure it never happens again,” the President concluded. |