P42/kilo rice possible as tariff cut takes effectIndustry group expects rice prices to range from P42 to P46 per kilogram this July as a result of the reduced rice tariffs. MANILA, Philippines — Some retailers in the country vowed yesterday to sell rice for as low as P42 per kilogram beginning next month once the reduced tariff rates on imported staple takes effect. The Philippine Rice Industry Stakeholders Movement (PRISM) said it expects rice prices in the market to range from P42-P46 per kilogram as a result of the reduced rice tariffs. President Marcos recently formalized the reduction in rice tariffs to 15 percent from the present 35 percent through Executive Order (EO) 62. Under the EO, the tariff cut would take effect on July 5, 2024.

Melody ChenFamily offices from the Middle East and India have showed interest in coming to Hong Kong in the past six months, said Jessica Cutrera, chairman of the Family Office Association Hong Kong. Speaking at the Hong Kong Investment Funds Association's annual conference, Cutrera said family offices seek to diversify their investments by participating in large real estate projects and initial public offerings while also looking for partners to collaborate with. Hong Kong has seen a 24 percent growth in family offices, hedge fund managers and private equity fund managers over the past three years, surpassing Singapore, with 2,700 single-family offices currently operating in the city, Deputy Financial Secretary Michael Wong Wai-lun said in his keynote speech at the event. Wong said that Hong Kong continues to see capital inflows, with bank deposits reaching HK$16.6 trillion in the first four months of this year, an increase of over 2 percent compared to last year. The Hong Kong Monetary Authority said that authorities will explore upgrading the Wealth Management Connect to attract uninvested cash held by mainland households and bring new opportunities to the industry.

A Philippine flag flutters on BRP Sierra Madre, a dilapidated Philippine Navy ship that has been aground since 1999, on the disputed Second Thomas Shoal, part of the Spratly Islands, in the South China Sea. (Reuters)The Philippines will continue with resupply missions to troops on an atoll in a disputed part of the South China Sea despite Chinese coast guard vessels deliberately disrupting a mission last week, Defense Secretary Gilberto Teodoro said on Monday. A Philippine sailor suffered serious injury after what its military described as "intentional-high speed ramming" by the Chinese Coast Guard, aiming to disrupt a resupply mission for troops stationed on the Second Thomas Shoal on June 17. China's foreign ministry has disputed the Philippines' statements, with a spokesperson saying last Thursday that the necessary measures taken by the coast guard were lawful, professional and beyond reproach. President Ferdinand Marcos said on Sunday that the Philippines was not in the business of instigating wars and would always aim to settle disputes peacefully.

The Police Licensing Office (PLO) of the Hong Kong Police Force (HKPF) launched the "HKP e-Licence" mobile application on Monday for issuing electronic licenses and permits, providing applicants with further convenience through e-service. All eight types of licenses and permits processed by the PLO Arms Licence, Temporary Liquor Licence, Lion/Dragon/Unicorn Dance Permit, Security Personnel Permit, etc., will be issued through the application. License or permit holders can now access their approved licenses and permits at any time through "HKP e-Licence", which also features a push notification function to remind users to renew their licenses or permits. Both electronic and paper licenses and permits contain identical information with QR codes, and the holders can present either format for inspection by enforcement officers. "HKP e-licence" supports iOS and Android operating systems, and members of the public can download it from Apple App Store, Google Play and HUAWEI AppGallery.

But both these capitals probably need the confrontation to linger to appease domestic constituencies. The moment, for instance, Beijing renounces its claims over Taiwan and the South China Sea reefs, its legitimacy will quickly dissipate. Ironically, both Beijing and Manila are in a deathly embrace in this continuing squabble over a few rocks littering the South China Sea. By late Friday, the Executive Secretary, speaking as head of some maritime affairs committee, convened an unusual press conference. Over the recent period, given the skirmishes in the South China Sea and the dubious activities going on in some POGO hubs, that thin line could be breached.

Five things BBM did in two yearsOn June 30, 2024, Ferdinand “Bongbong” Romualdez Marcos Jr. finishes the first two years of his six-year presidency. Two, BBM has focused on the economy and infrastructure, the “Build Better More” (BBM) program. With 31.629 million votes on May 9, 2022, Marcos Jr. garnered 59 percent of the votes cast for president. In 2033, he predicts, “the Philippines will be a $1-trillion economy.” Filipinos will be trillionaires, in dollar terms. To entice private companies to undertake the 185 projects, BBM has shortened the processing time for unsolicited projects under the new Public Private Partnership (PPP) Code, from 26.5 months to 16.9 months for local PPPs and 14.9 months for national PPPs.

MANILA, Philippines — The National Union of Journalists of the Philippines (NUJP) called “problematic and unethical” the alleged order of a newspaper editor to hack websites. Citing the Journalists’ Code of Ethics, the NUJP said media practitioners should only resort to “fair and honest methods” of obtaining materials. One of the suspects tagged Manila Bulletin tech editor Art Samaniego for supposedly instructing him to hack websites and mobile apps to test their vulnerabilities. READ: 3 suspected hackers caught, tech journalist implicated“It would be problematic and unethical for journalists to instigate incidents — alleged hacking in this case — to have something to report about,” the NUJP said in a statement Monday. The NUJP, however, said Samaniego should be afforded the presumption of innocence and the right to due process.

PARIS — Though cocoa prices on the financial markets have soared, the rise is benefiting cocoa growers, bean processors, speculators and chocolatiers in unequal measure. This reduces the impact of cocoa price fluctuations — whether upwards or downwards. "Soaring prices have made production more attractive," David Gonzales, coordinator of the Peruvian Chamber of Coffee and Cocoa, told Agence France-Presse. Other smaller intermediaries may find it difficult to advance the funds needed to adapt to the higher prices. But as time goes on, rising raw cocoa prices will eventually hit their bottom line.

NEW YORK — Car dealerships across North America have faced major disruptions this week. CDK Global, a company that provides software for thousands of auto dealers in the United States and Canada, was hit by back-to-back cyberattacks on Wednesday (Thursday). For prospective car buyers, that may mean delays at dealerships or vehicle orders written up by hand, with no immediate end in sight. Car dealerships across North American have been struggling from recent cyberattacks. A Ford spokesperson said the outage may cause "some delays and inconveniences at some dealers and for some customers."

Navy man who lost thumb during Ayungin incident awardedPresident Ferdinand Marcos Jr. shakes the hand of Seaman First Class Underwater Operator Jeffrey Facundo during a ceremony in Puerto Princesa City, Palawan on June 23, 2024. MANILA, Philippines — President Ferdinand Marcos Jr. awarded the Philippine Navy servicemember who was injured in a confrontation with the China Coast Guard (CCG) near Ayungin Shoal the Order of Lapu-Lapu Rank of Kampilan on Sunday. Seaman First Class Underwater Operator Jeffrey Facundo, who lost a thumb during the clash in the West Philippine Sea, received the honor in a ceremony in Puerto Princesa City, Palawan. The chief executive awarded the Order of Lapu-Lapu Rank of Kamagi to 79 others who participated in the mission. Marcos lauded the Western Command troops for showing restraint when confronted by hostile Chinese sailors during their recent resupply mission to Ayungin Shoal.

Like Batanes, the Kaohsiung economy used to be centered on fishing. As of end-April this year, 720,000 people have already visited to attend 54 concerts, spending NT$2.3 billion (around P4.18 billion). Global brands that help raise the profile of Kaohsiung face similar risks, although on this, Beijing’s success is uncertain. * * *The problem faced by Kaohsiung shows Taiwan’s struggle against Chinese economic coercion. This isolation has kept millions of Taiwanese out of the global health loop and unable to quickly undertake preventive measures during outbreaks of deadly diseases such as SARS and COVID.

The national martial art was a key feature of the celebration in Dapitan City spearheaded by the local government. A player of the Doce Pares, Jalosjos urged the government to pay equal attention to promoting arnis, like any contact sports or martial arts. “Arnis is a national sport. To jumpstart the effort, the Dapitan City local government convened a national arnis competition that opened on Wednesday, in time for Rizal’s birth anniversary. Leovemar Cris Hamoy, an arnis coach, said for his students in Dapitan, the sport has become a way to protect children, both online and offline.

With much of the United States, Mexico, India and the Middle East suffering through blistering heat waves, worsened by human-caused climate change, several doctors, physiologists and other experts explained to The Associated Press what happens to the human body in such heat. AdvertisementDr. Neil Gandhi, emergency medicine director at Houston Methodist Hospital, said during heat waves anyone who comes in with a fever of 102 or higher and no clear source of infection will be looked at for heat exhaustion or the more severe heat stroke. The usual first suspect is heat stroke — critical increases in body temperature that cause organs to fail. But the bigger killer in heat is the strain on the heart, especially for people who have cardiovascular disease, Jay said. "Humid heat waves kill a lot more people than dry heat waves," Kenney said.

Philippine President Ferdinand Marcos Jr said on Sunday his country is not in the business of instigating wars and will always aim to settle disputes peacefully, amid escalating maritime confrontations with China. "In the performance of our duties, we will not resort to the use of force or intimidation, or deliberately inflict injury or harm to anyone," Marcos said. Beijing's actions during a routine Philippine resupply mission have been condemned by the United States, Britain and Canada. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual shipborne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. In 2016, the Permanent Court of Arbitration in The Hague said China's claims had no legal basis, a decision Beijing has rejected.

A 31-year-old man was arrested in Fanling during an anti-narcotic operation by police on Friday, in which officers seized 27 kg of suspected ketamine worth HK$12 million in the packaging of whey protein. Police said officers first intercepted the man surnamed So in a building at Luen Wo Hui and seized about 90 g of ketamine on him. They later escorted him to the unit he rented and further seized 27 kg of the drug. He will face two counts of drug trafficking and will appear at Fanling Magistrates’ Courts next Monday (Jun 24). Police warned that drug trafficking is a serious offense and the maximum penalty carries a HK$5 million fine and life imprisonment.