November 13, 2017 Ruth Abbey E. Gita UNITED States (US) President Donald Trump on
Monday was all praises for President Rodrigo Duterte during their bilateral meeting held on
the sidelines of the 31st Association of Southeast Asian Nations (Asean) summit. Read
more Lawmaker says Asean Summit a chance to showcase PH growth Sunday, November
05, 2017 Princess Clea Arcellaz STO. Read more 60,000 security forces ready for Asean
Summit 2017 Sunday, November 05, 2017 Third Anne Peralta-Malonzo OVER 60,000
security forces were mobilized Sunday, November 5, for the upcoming 31st Association of
Southeast Asian Nations (Asean) Summit 2017 and related meetings which will be held in
Manila on November 13 to 17. Read more Palace welcomes Trump’s extended stay in PH
Saturday, November 04, 2017 Ruth Abbey Gita MALACAÑANG welcomed Saturday the
extended stay of United States (US) President Donald Trump to the Philippines to attend
the East Asian Summit. Read more DFA: No insistence to tackle ruling on PH-China dispute
Tuesday, May 02, 2017 Ruth Abbey Gita SOUTHEAST Asian leaders did not "strongly"
push to discuss China's loss on the arbitral ruling on the South China Sea, as well as its
land reclamation and militarization in the contested waters, during the regional bloc's
summit in Manila over the Read more Duterte, Trump to discuss North Korea in call
Saturday, April 29, 2017 Ruth Abbey Gita PRESIDENT Rodrigo Duterte said he was
expecting United States President Donald Trump to call him Saturday night to discuss about
the failed missile test of North Korea. Read more Duterte: Arbitration ruling issue just
between China, PH Thursday, April 27, 2017 Ruth Abbey Gita PRESIDENT Rodrigo
Duterte said Thursday that he has no plans of bringing up the ruling by an arbitral tribunal in
The Hague at the 30th Association of Southeast Asian Nations (Asean) summit. Read more
Launching of Asean Summit 2017 peaceful Tuesday, January 17, 2017 Ivy C. Tejano THE
Joint Task Force Haribon (JTFH) on Monday said the observance of the Association of the
Southeast Asian Nations (Asean) Summit 2017 held in Davao City on January 15, Sunday,
was successful. Read more Pages 1 2 next › last »
60,000 security forces ready for Asean Summit 2017 Sunday, November 05, 2017 By
THIRD ANNE PERALTA-MALONZO MANILA. Thousands of police and soldiers cheer
during a send-off ceremony and deployment to provide security for next week's Asean
Summit and other related summits which the country is hosting in Manila. (AP Photo) OVER
60,000 security forces were mobilized Sunday, November 5, for the upcoming 31st
Association of Southeast Asian Nations (Asean) Summit 2017 and related meetings which
will be held in Manila on November 13 to 17. Acting Local Government Secretary Catalino
Cuy, chair of the Asean 2017 Committee on Security, Peace and Order, Emergency
Preparedness and Response, spearheaded the send-off of the government forces in a
ceremony held at the Quirino Grandstand in Manila. Cuy assured the security forces are
also prepared for physical and cyber threats. A lockdown will be implemented in the
perimeter of the summit venues as well as in the hotels hosting the delegates. “Aside from
the large deployment of troops, huge resources will be at the ready to monitor, respond and
provide support during the summit,” Cuy said. Resources include 203 patrol cars, 394
motorcycles, 22 armored cars, 30 helicopters, 59 fire trucks, 94 ambulances, 125 explosive
detection dogs or K9 and 82 sniper teams came from 21 government agencies who will take
part in ensuring that the conduct of the said summit will be peaceful. Cuy also said several
joint task groups and sub-task Units have also been organized and are on deck with their
personnel and logistics to ensure that the summit will run as smoothly and peacefully as
possible. The send-off ceremony started with a mass followed by the testing of blinkers,
alarms, water cannons and other security equipment as well as a demonstration of civil
disturbance management which will be implemented during protest rallies. Also present
during the ceremony were Ambassador Marciano Paynor Jr., director general for
Operations for Asean; Salvador Medialdea, Asean chairperson; Police Director Napoleon
Taas, commander of Asean Security Task Force; AFP Chief of Staff Lieutenant General
Rey Leonardo Guerrero; and PNP Chief Police Director General Ronald Dela Rosa.
Meanwhile, Dela Rosa said the 19,000 police officers who are part of the 60,000 security
force for the Asean Summit are all set and ready. For its part, Armed Forces of the
Philippines (AFP) spokesperson Restituto Padilla said the Joint Task Force National Capital
Region which will be led by Brigadier General Jesus Manangquil has long been prepared
for the said event. "The JTF NCR, as the Metro Sentinel of the National Seat of
Government, has long been planning and preparing for contingency measures to address
any worst-case threat scenario and BGen Manangquil Jr. assures the public of ably
providing the security coverage for the venues as well as the safety of the people and all
our visitors," he said. At least 10 heads of state of Asean member-nations as well as United
States President Donald Trump, dialogue partners, observer states and other invited
delegates from the Asia-Pacific region are expected to attend the summit. Malacañang
earlier declared November 13-15 as special non-working days in Metro Manila, Bulacan and
Pampanga to avoid public inconvenience. Metro Manila mayors, however, extended the
suspension of classes in all levels in their areas of responsibility on November 16-17 to
make it convenient for delegates who wish to explore the metro. (SunStar Philippines)
Tags: ASEANASSOCIATION OF SOUTHEAST ASIAN NATIONSASEAN SUMMIT 2017
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SaveCEBU - Communications Secretary Herminio Coloma Jr. said Thursday that the Philippines will be
hosting the ASEAN Summit in 2017.
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Home > Business
Bitcoin start-ups in Asia take
aim at remittances market
Marius Zaharia and Dahee Kim, Reuters
Posted at Mar 14 2018 06:36 AM
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FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies
are seen on a PC motherboard in this illustration picture, February 13, 2018. Dado Ruvic,
Reuters
HONG KONG/SEOUL - Bitcoin, battered by warnings about volatility and bubble-like
appreciation, may have found a way to play a niche role in a big market: overseas money
transfers.
Used as a transfer mechanism rather than a currency, bitcoin circumvents banks' transaction fees.
Start-ups such as Bitspark in Hong Kong, and Bloom, Payphil, coins.ph and Satoshi Citadel
Industries' (SCI) remittance unit Rebit in Philippines, are trying to turn that into a business
model.
Reduced liquidity on cryptocurrency exchanges and regulatory uncertainty are, for now, limiting
monthly bitcoin-based remittances to millions of dollars in a multibillion-dollar market, the start-
ups say. But if cryptocurrencies mature, they say, traditional businesses will be in for some
serious disruption.
"Bitcoin is so much better as a mechanism to send money around the world," said George
Harrap, chief executive of Bitspark, a company that performs transfers for dozens of remittance
shops in Hong Kong, Philippines, Indonesia, Vietnam, Pakistan, Nigeria and Ghana. "There's a
lot less overhead that you need to do."
Many of the start-ups, such as Bitspark, do not deal directly with individual customers, but
instead provide the "back end" transfer mechanism for remittance shops.
The businesses estimate how much money they will need for a day, buy bitcoin in advance and
immediately sell it for the currency in the receiving country. That means they do not hold
cryptocurrency for any meaningful length of time, and customers' transactions are resolved in
minutes, rather than days.
Kate Corporal, 28, a Filipina working at an international company in Incheon, South Korea, said
she saved "huge" amounts sending money home using Rebit compared with traditional services.
"One thing I can guarantee is that the money I intended to send and the money that my family
received was exactly the same," Corporal said. "Using bitcoin is really helpful for many Filipinos
... as every single cent that we send can be very significant."
Reduced demand for cryptocurrencies in smaller economies often means bitcoin prices are
lower, so sending $100 to Indonesia or the Philippines via bitcoin results in the equivalent of
more than $100 at the other end. Without the bank fees, the shops say they can charge their
customers 25 to 75 percent less.
But the model has little to no advantage in markets with larger Filipino communities such as
Hong Kong and Singapore, where competition is high and fees are low - roughly 1-2 percent,
compared with 10-15 percent in South Korea.
Rebit sends money to Philippines mainly from South Korea, Japan and Canada and is looking to
expand to the Middle East.
LIQUIDITY PROBLEMS
The giants Western Union and Moneygram, which dominate the current market, are testing
Ripple's XRP, a cryptocurrency smaller and more centralized than bitcoin.
But the industry's transformation does not appear imminent.
The value of all bitcoin held globally is about $160 billion, roughly two-thirds of the Asian
remittance market and a third of the global one, according to World Bank estimates. That means
local cryptocurrency exchanges cannot cope with the cash flow needs of larger businesses.
"As soon as you're doing $10-15 million a day, liquidity becomes an issue and you're wondering,
'how am I going to do this,'" said Prajit Nanu, chief executive and co-founder of InstaReM,
which remits money to over 60 countries.
The start-ups avoid holding bitcoin for more than a few minutes because of its volatility.
Bitcoin now trades around $10,000, 10 times higher than a year ago, but half its December peak -
a common swing for the emerging asset class.
"We started in 2014, when bitcoin crashed from $1,000 to $200-$300 and luckily our business
model didn't rely on speculation," said SCI co-founder Miguel Cuneta.
"We are merely using it as a transfer mechanism," he added. "We convert it as soon as possible."
UNCLEAR RULES
Cuneta says Rebit was only approved by Philippine's central bank last year. South Korea's
backing away from banning cryptocurrency trading was encouraging, he said, but more clarity
was needed in Seoul and elsewhere.
In Singapore, start-up Toast gave up using bitcoin for remittances so it could get licensed. It is
now transferring money the traditional way but plans to offer loans and insurance using
blockchain technology and smart contracts - a product offered by bitcoin's main rival Ether and
others.
"If you bought cryptocurrency as part of a money remittance mechanism it is very difficult to get
your remittance license in Singapore or anywhere else because the regulators are still not sure
how they are going to govern cryptocurrency," said Aaron Siwoku, Toast's founder.
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Reuters
Posted at Mar 14 2018 06:33 AM | Updated as of Mar 14 2018 07:01 AM
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LOS ANGELES (Reuters) - The second of the “Fantastic Beasts” movie spinoffs from author
J.K. Rowling includes scenes set in Hogwarts School of Witchcraft and Wizardry, directly
connecting the story to the best-selling “Harry Potter” books and films, a first movie trailer on
Tuesday showed.
The trailer for Warner Bros’ “Fantastic Beasts: The Crimes of Grindelwald,” to be released in
November, also gave fans a first glimpse of actor Jude Law as a dapper, bearded, young version
of Hogwarts’ venerable headmaster Albus Dumbledore, and featured parts of the famous “Harry
Potter” music score.
The “Harry Potter” spinoff, which will eventually include five movies, is set some 70 years
before Harry Potter went to the British boarding school and learned to become a wizard.
The “Crimes of Grindelwald” trailer was the first to show Hogwarts as part of the “Fantastic
Beasts” story, which centers around Newt Scamander, a “magizoologist” with a suitcase full of
strange creatures.
“omg Hogwarts!! Dumbledore!! The Harry Potter Theme!! the chills!! the tears!! the memories!!
sooooo hyped!!,” wrote one fan, Hunter, on YouTube after watching the trailer.
“Omg... I was dying... Like Hogwarts is magical... I can’t even express to you how happy I am
that we’re going to be seeing that beautiful castle again,” commented Dhanya Binoy, another
excited fan.
The first movie, “Fantastic Beasts and Where to Find Them,” which was written by Rowling,
made $814 million at the global box offices after it was released in November 2016.
Rowling has said she thinks of the younger Dumbledore as a gay man who fell in love with
Gellert Grindelwald, who later turned out to be evil and violent.
In the trailer, Dumbledore is shown in a Hogwarts classroom, and later telling actor Eddie
Redmayne’s Scamander: “I can’t move against Grindelwald. It has to be you.”
The movie also gives fans a glimpse of Johnny Depp as a pale, long-haired, disheveled
Grindelwald, the character who embodies the dark forces in both the “Harry Potter” and
“Fantastic Beasts” movies.
The eight “Harry Potter” movies made $7 billion at the global box office. “Fantastic Beasts: The
Crimes of Grindelwald” will be released on Nov. 16, 2018.
Reporting by Jill Serjeant; Editing by Suzannah Gonzales
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The FEU Lady Tamaraws are looking to bounce back. Arvin Lim, ABS-CBN Sports
MANILA, Philippines – Far Eastern University (FEU) wants to pile on the troubles of rival
University of Santo Tomas (UST) when they meet in the second round of the UAAP Season 80
women's volleyball tournament on Wednesday at the FilOil Flying V Centre in San Juan.
The Lady Tamaraws are also looking to bounce back from a surprisingly quick three-set loss to
Ateneo de Manila University the last time out, which dropped their record to 5-3.
The Golden Tigresses are in a far worse position. Since winning two of their first four games,
UST has lost four in a row – the last of which was a shock four-set defeat to University of the
East.
Their most recent loss forced UST coach Kungfu Reyes to admit that the Final 4 may be out of
the question for the Golden Tigresses in Season 80.
UAAP VOLLEYBALL PLAYER OF THE WEEK: Kath Arado of UE
"Wala na akong pakialam doon, kung papasok ba kami ng Final 4, kasi naging mas malalim ang
dadaanan namin lalo, napakahirap," said Reyes, who has yet to draw any consistency from his
players outside of Sisi Rondina.
Instead, Reyes said they will just try to create some chaos in the league standings, starting with
Wednesday's assignment against their traditional rivals.
"Pipilitin pa rin namin at least sa remaining games namin, guluhin na lang namin ang standing.
Baka sakali umakyat pa kami," he said.
FEU head coach George Pascua, for his part, is hoping that his players will put on a better
showing after a disappointing performance against the Lady Eagles last March 7.
"Yan ang isang magiging test ng character, kung aayaw ba sila or mas magpupursige pa sila," he
said of his players.
Game time is at 4 p.m.
In the first game at 2 p.m., defending women's volleyball champion De La Salle University looks
to rise to the top of the league standings when it takes on University of the Philippines (UP).
La Salle has won back-to-back games in impressive fashion, as they trounced Ateneo to end the
first round then displayed their championship poise in a tough, three-set win over National
University on Saturday.
A win over the Lady Maroons will put La Salle at 7-2, half a game ahead of the idle Lady
Bulldogs.
Meanwhile, UP (3-5) is hoping to build on its morale-boosting five-set conquest of Adamson
University, also last Saturday.
A win over the Lady Spikers will also boost UP's flagging Final 4 hopes.
For more sports coverage, visit the ABS-CBN Sports website.
We welcome all of you, our brothers and sisters all over the region to our home.
The Philippines is honored to be the Chairman of ASEAN 2017, and we look forward
to the year ahead as we continue to pursue and enhance cooperation with you, our
neighbors.
The theme “Partnering for Change Engaging the World” reflects the Philippine
government’s advocacy to promote unity with and among ASEAN member states
and its global partners. We invite everyone to become dynamic and vibrant allies as
we envision a future that is prosperous for all citizens.
We are one community, with one shared identity, one vision. An even stronger
ASEAN begins today.
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The last 50 years
of the Association of Southeast Asian Nations (ASEAN)
Challenges to Asean
NOVEMBER 13, 2017 0
HUMAN rights have long been a sensitive issue among the states making up the Association
of Southeast Asian Nations (Asean). It remains one of the biggest challenges that member-
countries need to confront even after its 10-year-old Charter has recognized the principles of
human rights. Asean celebrates this week the golden…
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