Indonesia

April 4, 2013 Edition

Analette Abesamis

This is AI generated summarization, which may have errors. For context, always refer to the full article.

  1. Imee Marcos linked to offshore trust

    Photo from Senator BongBong Marcos' Flickr Stream

    Ilocos Norte Gov Imee Marcos, is a beneficiary of a secret offshore Sintra Trust, financial records uncovered by the International Consortium of Investigative Journalists show (ICIJ). Formed in June 2002 in the British Virgin Islands, Sintra Trust also lists as beneficiaries Marcos’ sons by estranged husband Tomas Manotoc: Ferdinanc Richard Michael Marcos Manotoc, Matthew Joseph Marcos Manotoc, and Fernando Martin Marcos Manotoc. In its report, the Philippine Center for Investigative Journalism pointed out that government officials are required by law to disclose all their assets, but Imee Marcos’ disclosure statements do not list Sintra Trust or the two other offshore entities linked with her. The Presidential Commission on Good Government wants to find out if the 3 entities contain some of the US$5 billion that former president Ferdinand Marcos collected and tried to keep hidden.

    Read the full story on Rappler

  2. North Korea okays nuclear strike on US



    Scaling up its rhetoric on Thursday, April 4, North Korea approved the launch of “merciless” military strikes on the US, involving the possible use of “cutting-edge” nuclear weapons. Earlier, in response to threats from North Korea, the US announced it is deploying an advanced missile system to Guam to strengthen its “regional defense posture against the North Korean regional ballistic missile threat.” The ballistic Terminal High Altitude Area Defense System is a truck-mounted system that can pinpoint an enemy missile launch, track the projectile and launch an interceptor to bring it down. US Defense Secretary Chuck Hagel labelled actions by North Korea over the past few weeks as a “real and clear danger.” The White House meanwhile asked North Korea to stop making threats. National Security Council spokeswoman Caitlin Hayden said, “North Korea should stop its provocative threats and instead concentrate on abiding by its international obligations.”

    Read the full story on Rappler
    A related story is also on Rappler
    Other details are on the BBC
    Additional information is on CNN

  3. Binay defends 4 of them being in gov’t



    After the May 13 elections, there could be as many as 4 of them in different government positions. One would be a vice president, a senator, a congressman, and a mayor, and they would all share the name Binay. During the proclamation rally of his son, re-electionist Makati Mayor Junjun Binay on Wednesday, April 3, Vice President Jejomar Binay took time to campaign for his other children – Nancy Binay who’s running for the Senate and re-electionist Makati 2nd District Rep Mar-Len Abigail Binay-Campos. The Vice President said that political dynasties are an issue in the context of violence, cheating and bad practices in politics. “But in a clean and honest election, why not allow the people to vote?” he asked in Filipino. He also summed up his campaign pitch for his children and candidates: “Damdaming Makati, tatak Binay. (The heart of Makati, the Binay brand.)”

    Read the full story on Rappler

  4. SEC frowns on insider trading

    Photo by AFP

    The Securities and Exchange Commission is proposing more stringent sanctions on entities found guilty of insider trading, and wants those who profited from unethical business transactions to repay their ill-gotten wealth plus interest. SEC chair Teresita Herbosa said in a statement Wednesday, April 3, “We’d like to strive for a fair and honest capital market. We’ll probably be able to achieve that through vigorous prosecution of securities law violators as well as the imposition of stiffer fines and penalties.” The SEC has acquired its own surveillance system to prevent fraudulent trading activities. It likewise signed an agreement with the Korea Exchange for a cutting-edge market surveillance system that will monitor both the bond and stock markets.

    Read the full story on Rappler

  5. Spain’s princess summoned over corruption



    The youngest daughter of Spain’s King Juan Carlos has been summoned to court over allegations her husband misused public funds. Princess Cristina’s husband Inaki Urdangarin has denied any wrongdoing and has yet to be charged. A former Olympic handball player, Urdangarin, also the Duke of Palma, is suspected of having massively overcharged local authorities for organizing sporting events, the BBC reported. There are allegations that millions of euros ended up in offshore bank accounts of companies he controlled. The sport events between 2004 and 2006 happened when the duke stepped down as head of the non-profit Noos Institute. Funds given to the institute were what the duke and his former business partner are suspected of misusing. Princess Cristina is alleged to have been involved as she supposedly knew about her husband’s financial affairs, the BBC said.


    Read the full story on the BBC

  6. Meet the members of the Transition Commission



    Fifteen individuals will perform the task of drafting the Basic Law for the Bangsamoro political entity that will replace the Autonomous Region in Muslim Mindanao (ARMM). Led by Moro Islamic Liberation Front (MILF) chief negotiator Mohagher Iqbal, the Transition Commission convened for the first time on Wednesday, April 3. The body was created by virtue of Executive Order 120. Eight of the members were nominated by the MILF while 7 were nominated by the government.

    Read the full story on Rappler.

  7. Cyprus to do ‘whatever it takes’ to turn economy around



    The new finance minister of cash-strapped Cyprus vowed on Wednesday, April 3, to do “whatever it takes” to sort out the EU country’s teetering finances and put the economy back on track for growth. Haris Georgiades was speaking hours after President Nicos Anastasiades swore him in, warning of “difficult days ahead” for an island struggling to recover from a near financial meltdown and the need for a crippling eurozone bailout. Anastasiades said this would entail “firstly, collectivity and, secondly, consistency and fiscal discipline and all those measures that will contribute to kick-starting the economy as soon as possible.” He also vowed to implement the terms of the bailout “fully… we shall meet all time frames and meet all targets.”

    Read the full story on Rappler

  8. H7N9 bird flu cases set to climb, but no pandemic: WHO

    AFP Photo

    Following reports of 3 deaths in China due to a new strain of bird flu, the World Health Organization quelled fears of a pandemic. The number of cases of H7N9 bird flu in China looks set to climb as experts identify previously unexplained infections, but a lack of human-to-human transmission means a pandemic is not on the cards, mentioned the WHO on Wednesday. Speaking to reporters, Gregory Hartl, spokesman of the WHO’s influenza and epidemics division, noted, “We have no evidence so far of human-to-human transmission, and without human-to-human transmission, the likelihood or risk of pandemic is low.”


    Read the full story on Rappler.

  9. Leno to bow out on US ‘Tonight’ show



    Veteran US late-night TV host Jay Leno is bowing out after 22 years on the iconic “Tonight Show,” clearing the way for young star Jimmy Fallon to take the show to New York, NBC announced Wednesday, April 3. Confirming weeks of reports, the network said production of the show will move from Los Angeles to its historic home in the Big Apple at 30 Rockefeller Plaza, where Fallon’s current show is already made. Leno’s relations with NBC have been strained of late as he made a series of gags in his opening monologues about the network’s poor ratings, and his bosses.

    Read the full story on Rappler

  10. Cebu church group backs 8 Senate, 6 House bets



    Catholics associated with the Archdiocese of Cebu are bent on proving the Church’s electoral influence in the country’s vote-richest province. A Church-backed group, Live Initiative for Election 2013, has endorsed 8 senatorial and 6 congressional candidates who are pro-life, and vowed to make them win to prove that the so-called Catholic vote is very much in place in Cebu. Cebu Archbishop Jose Palma, also president of the Catholic Bishops Conference of the Philippines, is said to fully support the initiative. The partial senatorial list includes 5 candidates from the United Nationalist Alliance (UNA) and 3 from Team PNoy, with a full list, which include congressional candidates to be completed by April 13.

    Read the full story on Rappler

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