Sunday

Rising star Golovkin knocks out Macklin via liver punch


Gennady Golovkin continued his undefeated run with a third round knockout against Matthew Macklin, Saturday (Sunday, PHL time) at MGM Grand Theater at Foxwoods Resort.

Golovkin, a Kazakh who now resides in Germany, landed a picture-perfect left hook to the body that dropped his opponent. Macklin folded after the punch was landed and he stayed on the canvas long after referee Eddie Cotton ended his ten count. The official time of stoppage was at 1:22 of the third round.

With the win, Golovkin defended his IBO and WBA middleweight titles. He also remained undefeated, winning all of his 27 fights with an impressive 24 knockouts under his name.

Macklin engaged Golovkin in an exciting match from the very start. Even if Golovkin had an astounding 88 percent knockout percentage, Macklin fought him toe-to-toe in the first two rounds, even landing a few big right straights of his own. His corner instructed the challenger to keep moving towards his right to make it harder for Golovkin to land his vaunted rights. However, this set Macklin up perfectly for Golovkin’s left hook.

In the third round, Golovkin caught Macklin on the ropes. He landed left and right uppercuts which ever so slightly made Macklin adjust his defense. When Macklin’s body opened up, Golovkin landed a devastating left hook, which is often called the liver punch in boxing parlance, to end the fight.

Macklin’s record fell to 29 wins against five losses. - CLP, GMA News

source: gmanetwork.com

Century Properties Group wins two major industry awards


Listed real estate firm Century Properties Group Inc. continues to build upward traction in the property industry and has received major recognitions from two industry award-giving bodies: Corporate Governance Asia and BCI Asia.

This month, Century Properties was chosen as one of the Most Promising Companies on Corporate Governance by Corporate Governance Asia 2013. Century accepted the said award at the 9th Corporate Governance Asia Annual Recognition Awards 2013 on June 25, for being one of the recognized companies in the region that are following the path of good corporate governance, adopting measures to raise corporate governance standards in the strong belief that best corporate practices are good for business.

This recognition follows the BCI Asia Award that Century received on May 26 as one of the Top 10 Developers in the Philippines for 2013.

The BCI Asia Top 10 Awards provides an overview of the regional building and construction industry by recognizing the top developers that had the greatest impact on the built environment in Southeast Asia. In the Philippines, Century Properties had contributed relevant and innovative property developments for 27 years.

“We are honored to receive these two recognitions by our peers in the industry. We at Century Properties have always believed that we continue to be blessed and humbled by these achievements because of consistent hard work and determination, and our passion to continuously push the envelope in Philippine real estate development,” said Jose. E. B. Antonio, the founder and Chairman of Century Properties.

He added: “Century has maintained its upward trajectory in terms of sales performance, a 27-year track record of project delivery, and innovative development concepts. And we shall continue to do so as we work towards our growth as an organization that adheres to the highest standards of business practices.”

Century announced financial results for the quarter ended March 31, 2013, with total revenues of P2.6 billion in the first quarter of 2013, representing a 5% increase over the first quarter 2012 revenues of P2.5 billion. Net income, on the other hand, amounted to P501 million in the first quarter of the year, up 10% from P454 million in the same period last year. Century is constructing four masterplanned developments within Metro Manila at a projected cost of approximately Php 34 billion.

With 27 years in the business of real estate development, marketing and property management, Century Properties is the developer behind such prestigious projects as The Gramercy Residences and the Knightsbridge Residences at Century City, Trump Tower at Century City, the Milano Residences interior design by Versace Home, Acqua Livingstone interior design by MissoniHome; Acqua Iguazu yoo inspired by Starck; Centuria Medical Makati in partnership with GE Healthcare; and the Residences at Commonwealth by Century.

Delivering differentiated, quality real estate has been Century Properties’ commitment in its almost three decades in the business of full-service real estate development, marketing and property management. The company is listed in the Philippine Stock Exchange under the ticker CPG.

source: gmanetwork.com

Thursday

Malaysia's iMoney sees more Pinoys doing financial search online


Expectations of more Filipinos using the internet in search of financial products as the economy grows prompted Kuala Lumpur-based Intelligent Money Sdn. Bhd. (iMoney) to unveil a Philippine counterpart online.

“We have seen penetration rates of about 7.5 percent [for financial related queries] in more developed countries of South East Asia, which leads to the conclusion that the internet search volume will increase in the Philippines over time,” Ching Wei Lee, iMoney chief executive officer, said in an e-mail interview Thursday. 

“It is time to put focus on finances and what better time to introduce it other than when the economy is on an upswing,” he added.

Financial related queries in the Philippines vary depending on the product, Ching noted.

“A good example would be the search per month for credit cards which totaled 487,500 searches equivalent to 1.43 percent of the Filipino Internet population,” he said.

Providing unbiased comparisons among financial institutions products would help consumers choose the best goods and prompt corporations to improve service, Ching said.

“Banks are understandably partial to their own products. The consumer of today needs information that does not side and affiliate with any bank,” he noted, saying iMoney uses earnings from onsite advertising and referral fees to bankroll its free service.

“Traditionally, consumers have often been at the losing end in a typical bank-consumer relationship,” Ching explained.

iMoney Philippines, www.imoney.ph, is a consumer financial portal offering comparison services for credit cards, personal loans, mortgage loans, savings accounts, time deposits and travel insurance offered by major banks and insurance entities of the Philippines.

Intelligent Money runs Malaysia's largest comparison website for financial services and oversees $40 million worth of banking products transacted over its website monthly.

iMoney recently launched a portal for Singapore and Indonesia. — VS, GMA News

source: gmanetwork.com

Windows 8.1 supports 3D printing


Better support for 3D printing may be one of the major features of Microsoft's upcoming flagship operating system Windows 8.1.

Microsoft vice president Antoine Leblond announced the new feature at the company's Build 2013 keynote, tech site Mashable reported.

"In Windows 8.1, developers will be able to build 3D printer support into their apps through the new API. For users, that means fewer pieces of software to install, and over time, more apps that will work with 3D printers," Mashable said.

The report said Leblond demonstrated the capability with a MakerBot 3D printer hooked up to a PC running Windows 8.

He said a user could just select the Devices icon from the Windows 8 Charms menu, then the printer.

Leblond showed printing an object from a generic 3D rendering app, Mashable said.

"He also pointed out two printers that were supported, the MakerBot Replicator 2, coming soon to Microsoft Stores, and the 3D systems Cube, which retails for less than $1,300 at Staples," it added. — TJD, GMA News

source: gmanetwork.com

Tuesday

Microsoft to bring 'Age of Empires' to Apple, Android phones


SAN FRANCISCO/TOKYO - Microsoft Corp will offer its popular "Age of Empires" game for Apple Inc's iPhone and other smartphones through a tie-up with Japan's KLab Inc, seeking to capture growth in a booming mobile game market.

Microsoft's gaming business is dependent primarily on its Xbox franchise but mobile devices have been eating into the gaming industry, luring consumers away from traditional consoles.

While the tech giant has released a few mobile games for iOS and Android like Wordament, "Age of Empires" is its most popular game to date to be offered beyond its own consoles.

The strategy is one that analysts argue other game machine makers such as Mario Brothers creator Nintendo Co Ltd could consider in a bid to leverage their software assets.

KLab will develop a mobile version of "Age of Empires" which will be released before the end of March, a KLab spokesperson said.

Shares in KLab were overwhelmed by a glut of buy orders in Tokyo trade on Tuesday, with its price indicated at 972 yen, 18 percent higher than its last close.

Contrary to an earlier report, the agreement is only to develop a mobile version of "Age of Empires" and there were no announcements on other titles, the two companies said.

The historical strategy game will be released worldwide in English for iPhones and Android-based phones, "with plans to release the game in other languages and on a Windows Phone in the future," a Microsoft spokesperson said.   Reuters

source: gmanetwork.com

Sunday

FIFA suspension looms as Thais fight reforms


Thailand face a FIFA-imposed suspension on Monday after a lowly fourth tier club refused to balk at pressure from the world governing body to drop a court order halting controversial reforms that has left the game in crisis.

Thai FA (FAT) leader and FIFA executive committee member Worawi Makudi has also, so far unsuccessfully, pressured Pattaya FC to drop the court injunction which led to him postponing last Sunday's FAT presidential elections indefinitely.

The argument centres on one of the FIFA and Worawi backed reforms that would see the slashing of the number of eligible voters from around 180 to just 72.

Worawi wanted to push through the new reforms in line with FIFA statues in a vote on June 15 before holding the presidential election a day later, just before his latest term ended.

But Pattaya secured an order from Bangkok's Min Buri court on June 14 that prevented the Thai FA meeting to vote on the matter before the court reaches a verdict on the club's claim, local media reported

Critics say shrinking the vote is a ploy by Worawi to retain his seat amongst growing unpopularity. The controversial 61-year-old says the new reforms are a FIFA prerequisite.

FIFA said they could impose a suspension on Thailand should Pattaya not drop the claim by Monday, which Worawi said would jeopardise lucrative tours by Barcelona, Manchester United, Liverpool and Chelsea to the Southeast Asian country in the coming weeks.

The Thai Sports Authority are also watching the case with Thai Sports law dictating that an election must be held within 30 days of the incumbent's term expiring.

Annop Singtothong, vice president of Thai Premier League club Chon Buri FC and a rival of Worawi, said this week he would canvas members of the FAT to force the election to happen within the 30-day period and queried the timing of the reforms.

"All members are willing to comply with FIFA's regulations," he told English language daily The Nation.

"In fact, we had no objection with the new statute. But, we just would like to ask why there is an attempt to amend the rules on the final day of incumbent's mandate."

DEATH THREATS

Pattaya had also brought a suit against Worawi but dropped that earlier this week as it deemed he could no longer legitimately run the association following the end of this third two-year term on Sunday, the Nation reported on Wednesday.

The paper also said the club had received death threats.

FIFA were adamant that Pattaya were wrong to involve the courts in football governance.

"By pursuing their action before an ordinary court of law, the club's behaviour prevents FAT from managing its affairs independently and undermines the competent decision-making bodies of FAT, which is clearly contrary to the above obligations," FIFA said in a letter to FAT secretary-general Ong-arj Kosinkar on Monday, carried by several local media.

Football fan Pinit Ngarmpring, who is standing against Worawi in the FAT elections, pleaded for leniency in a replying letter to several high-standing FIFA officials including president Sepp Blatter.

Former national team manager Virach Charnpanich is also standing in the elections and he joined Pinit in a news conference this week to criticise Worawi for the timing of the reform push.

"This may prove that he wants to gain an upper hand in the election," he was quoted as saying by the Bangkok Post on Wednesday.

Worawi has long been plagued with allegations of corruption during his tenure with FIFA and the FAT but has successfully defended himself each time to remain in his powerful positions.

However, he failed in his bid to become Asian Football Confederation president in May when he was comprehensively beaten by Sheikh Salman bin Ibrahim Al Khalifa.

His popularity in Thailand has also suffered. He was criticised after a chaotic hosting of the FIFA Futsal World Cup last year which saw the main venue go unused after construction delays.

On Wednesday, he angrily denied the letter sent by FIFA officials threatening suspension was a fake.

"It is my responsibility. I am trying to do everything to follow the FIFA rules. As for my position on FIFA's board... it's not related to this problem." - Reuters

source: gmanetwork.com

Saturday

US state to lower flags for actor James Gandolfini


NEW YORK - Flags will fly at half staff Monday on official buildings in New Jersey as a mark of respect for "The Sopranos" star James Gandolfini, a native of the northeastern US state, officials said.

In an executive order issued Friday, Governor Chris Christie said the symbolic move served "to recognize the achievements and contributions of James Gandolfini," who died in Rome on Wednesday.

Gandolfini "was an iconic actor and will be remembered for the timeless impact he left upon television and film in the State of New Jersey and across our nation," Christie wrote.

The actor, who died of a heart attack aged 51, was born in Westwood, 25 miles (40 kilometers) north of New York, went to local schools and earned a Bachelor of Arts degree from the state's Rutgers University.

Christie said Gandolfini "enjoyed an extraordinarily successful acting career across television, film and Broadway, including his popularly acclaimed role as Tony Soprano in 'The Sopranos.'"

He also advocated for US military service members and veterans in two documentaries, "Alive Day Memories: Home From Iraq" (2007) and "Wartorn: 1861-2010" (2010). - Agence France-Presse

source: gmanetwork.com

Pixar goes back to class with Monsters prequel


LOS ANGELES -- Pixar sends its Monsters back to class this weekend with "Monsters University," the first time the animation giant has made a prequel to a member of its stable of hit franchises.

Released Friday in the United States, the movie takes monster buddies Mike and Sulley back to their college days when they learned their scaring skills, displayed in the original 2001 blockbuster.

Pixar has made its share of sequels -- think "Cars 2" and "Toy Story" 2 and 3 -- but the California-based studio's 14th feature film is the first to go back in time, to show where the "Monsters Inc." characters come from.

The first film presented a cast of monsters in a world where the city's power was generated by children's screams. An army of scary creatures went into toddlers' bedrooms to make them wail as loudly as possible.

Sulley, who looks like a cross between a blue bear and a dinosaur, was one of the top scarers, supported by his faithful friend Mike, a small green ball-shaped cyclops with one enormous eye.

In "Monsters University," we see how they met in college, where loud-mouthed dilettante Mike was already the campus monster chief, while shy, hard-working Sulley could only dream of joining the top scarers.

"We always knew that we wanted to tell the story of Mike wanting to become a scarer," director Dan Scanlon told AFP.

"We knew that that was sort of the heart of the story, the idea of what do you do when you come up against a brick wall or you come up against a closed door. What becomes the issue is then just how do you tell that story."

But Scanlon, making his first feature-length movie for Pixar, admitted that at first, he and the writers struggled to come up with a compelling story to drive the prequel emotionally.

"We were going down roads that seemed thin. Sometimes a story doesn't have an engine behind, it is just kind of meandering around a setting. OK, we have college, but what are they doing in college?" he said.

But they struck upon the idea of a misfit group, the Oozma Kappa fraternity of "losers."

"Once we included that group, the story came to life. Because it allowed Mike and Sulley to have someone to take care of," said Scanlon.

"Having them taking care of the misfits or having to deal with this misfits group, it made them kind of a mom and dad that had to learn how to come together to take care of the kids.

"And that element really changed the story. That's when we felt we're on the right track."

As with past films, including "Finding Nemo" (2003), "Ratatouille" (2007) or last year's Oscar-winning "Brave," the "Monsters" prequel combines spectacle and fun with serious themes for youngsters, such as accepting tough reality.

But it is also an ode to friendship, and how it can transcend differences and hurdles.

"Friendship is a big part of it... As you see when you meet Mike and Sulley, they are very different people than they are in the next film," said Scanlon.

"What I like about the film is that it sort of shows you how your friends can help make you who you need to be, especially when you're younger. They can not only help you find who you really are, not only help you find what things you're actually good at, but also help make you a better person." -- Agence France-Presse

source: gmanetwork.com

Thursday

U.S. celebrity chef Paula Deen explains use of racial epithet in deposition


U.S. celebrity chef Paula Deen, known for her high-calorie Southern cooking, admitted in a deposition that surfaced on Wednesday that she has used racial slurs but her attorney says she does not tolerate prejudice.

A former employee of Paula Deen Enterprises, Lisa Jackson, is suing Deen and her brother Earl "Bubba" Hiers for racial and sexual discrimination in the work place, and the video-taped deposition was related to the suit.

In the deposition, Deen, who is white, was asked if she had used the so-called N-word, a racial epithet directed against African-Americans, to which she responded: "Yes, of course."

She said she had used the epithet when describing, probably to her husband, how a black man robbed a bank where she was working. She said had used the word since, "but it's been a very long time."

The lawsuit filed by Jackson alleges that when discussing with Jackson plans for Hiers' 2007 wedding, Deen said she wanted a "true southern plantation-style wedding" and used the slur to describe the black men she would want serving at the wedding dressed in white shirts, black shorts and bow ties. In the deposition, Deen said she referred to the race of the servers as black.

The celebrity chef whose recipes have been featured in cookbooks and on popular Food Network shows was also asked if members of her family had told jokes at home using the racial epithet.

"I'm sure they have," she said in the deposition, made on May 17 in Savannah, Georgia. "My husband is constantly telling me jokes."

When asked if she was offended, she responded "No, because it's my husband."

The plaintiff's attorney, S. Wesley Woolf of Savannah did not immediately return a phone call seeking comment.

Deen's attorney Bill Franklin of Savannah law firm Oliver Maner LLP, declined by email to discuss the case with Reuters because it was pending in court but has said Deen did not find epithets acceptable.

"Contrary to media reports, Ms. Deen does not condone or find the use of racial epithets acceptable," Franklin told CNN on Wednesday. "She is looking forward to her day in court." Reuters

source: gmanetwork.com

PayPal Says Study Shows Support For Mobile Wallets


PayPal says a study it commissioned last month refutes those who say mobile wallet adoption is lagging.

In a survey of consumers in the U.S., Britain, Canada, Germany and Australia, 83% of respondents said they wished they didn't have to carry physical wallets.

Anuj Nayar, PayPal's senior director of communications, says the point of the study is not about replacing cash or credit cards with a "mobile wallet" payment method.


"It's about eliminating (payment) friction points that stop you from getting what you want," Nayar said. "Consumers aren't looking for new ways to pay in stores. But they are looking to have technology solve real world problems such as standing in line to order, tracking receipts and managing things like loyalty and gift cards."


The study from eBay -owned PayPal found 29% of U.S. respondents said they'd elect to carry a payments-enabled smartphone, or mobile wallet, over a physical wallet if they had to choose just one.

Nayar points to many pluses with a mobile wallet. For one, "you can pre-order your lunch from a meeting and not have to wait in line."

Many Stores Not Ready
But some obstacles to mobile wallet adoption surfaced in the PayPal study. Two-thirds of U.S. consumers said they had been unable to pay for a purchase at a store at least once because they forgot their wallets, with 30% saying this has happened to them often. PayPal says this shows many businesses still don't offer customers a mobile wallet payment alternative.

But the study found mobile wallets becoming more attractive because of changing lifestyles, such as greater use of smartphones.

Gyms and health clubs were at the top of the list of places that respondents wished were wallet-free. Canadians were most interested in going wallet-less at bars. Germans and Americans were most keen on attending concerts and sports events sans wallets.

Laundromats, grocery stores and restaurants also were high on mobile-wallet-option wish lists.

Mobile-wallet technology has a ways to go, however.

Mobile wallets, for now, can't do in an "easily accessible way" all the things that regular wallets do for consumers, says Ginger Schmeltzer, senior vice president of emerging payments for financial services and tech provider Fiserv.

Besides carrying credit cards, debit cards and cash, physical wallets also hold important personal identification and other items that digital wallets generally don't.

Schmeltzer says the day may come when most personal items can be loaded on smartphones and people don't carry any physical wallet, just their phone.




"People are ready to try something that will dematerialize the size of their physical wallet," said Sylvain Maquet, a partner in the New York office of Greenwich Consulting, who follows this field.

PayPal's Nayar notes that mobile wallet use tends to be identified with smartphones, but he stresses that any Internet-enabled device can serve as a digital wallet. This could include smartwatches and other wearable computers, or even cars that can pay for gas by passing through a gas station reader.

PayPal is pushing hard for mobile wallet payment services, as a way to boost its revenue.

Many PayPal Programs

The company launched Cash for Registers in May. The program, which it will phase in gradually, gives merchants an electronic point-of-sale service option, which lets them accept credit, debit cards, checks and PayPal payments.

Participating retailers can use PayPal Here or another checkout payment system offered by one of PayPal's partners such as Leaf, ShopKeep and VeriFone.

PayPal Here uses a dongle or swipe reader that lets merchants accept credit cards, checks and PayPal payments on the merchant's iPhone, iPad or Android device, so merchants can process payments anywhere, not just at the checkout counter.

PayPal says it will waive fees for merchants for the remainder of 2013 as an inducement to joining Cash for Registers.

PayPal also offers a cashless alternative called Check In, in which consumers can pay with just a few clicks and a picture of their face rather than a wallet.

Launched in May 2012, Check In is available at some stores. When users walk into a participating store, a mobile app on their smartphone alerts the store's PayPal Check In system that they're there. You buy what you want and when you go to the checkout register, the store's Check In system shows the register clerk a photo of your face that's been called up by the system. Once the clerk sees your face matches the photo, the funds to pay for your purchases are automatically deducted from your PayPal account and you take your goods home, never having to take out your wallet.

Consumers also will be able to use PayPal's Order Ahead service with their PayPal app in certain areas of the U.S. to pre-order and have their item waiting for them at a store, already paid for. Launched in January, Order Ahead is being tested at some Jamba Juice outlets. For quick service, users can touch an app on their smartphones to order ahead and say when they'll pick up the order, then have the transaction processed via PayPal before they get to the Jamba Juice outlet.

source: news.investors.com




Wednesday

S&P applies revised insurance criteria to Asia Pacific insurers



Standard & Poor's Ratings Services on Wednesday said it kept the credit ratings of 18 insurers in Asia Pacific which underwent review after the debt-watcher changed its criteria for such firms.

In a statement, S&P said it "has reviewed its ratings on 18 life insurance companies, insurance holding companies and some of their related entities in the Asia-Pacific region."














"All ratings are affirmed," it added.

These companies are:

Pacific

    Manchester Unity Friendly Society

    MetLife Insurance Ltd.

    National Wealth Management Holdings Ltd.

    ANZ Wealth Australia Ltd.

    Medical Insurance Society Ltd.

    Medical Life Assurance Society Ltd.

    Medical Securities Ltd.

    Hallmark Life Insurance Co. Ltd.

    Hallmark Life Insurance Co. Ltd. (New Zealand Branch)

    Colonial Holding Co. Ltd.

    Zurich Australia Ltd.


Asia (excluding Japan)


    Hang Seng Insurance Co. Ltd.

    HSBC Insurance (Singapore) Pte. Ltd.

    HSBC Life (International) Ltd.

    Nan Shan Life Insurance Co. Ltd.

    NTUC Income Insurance Co-operative Ltd.

    Thai Life Insurance Public Co. Ltd.

    Taiwan Life Insurance Co. Ltd.

S&P said it will soon publish specific analytic reports for each of the companies. — SOA/VS, GMA News

source: gmanetwork.com

Tuesday

Adidas sees record soccer sales in World Cup Year 2014


HERZOGENAURACH, Germany - German sportswear group Adidas expects record sales from its soccer division of 2 billion euros ($2.7 billion) in 2014 when the World Cup is played in Brazil, the company said on Tuesday.

That figure is an increase on sales of more than 1.7 billion euros from the division in 2012, company officials said. Adidas is a sponsor of the World Cup and will supply match balls, kit for referees and volunteers in Brazil.

"The FIFA World Cup is the perfect stage to showcase our company, our brands and our products," Addias CEO Herbert Hainer told reporters at the company's headquarters in southern Germany.   Reuters

source: gmanetwork.com

Mysterious Facebook event sparks online buzz


SAN FRANCISCO - A mysterious Facebook event set for Thursday has sparked buzz that the leading social network could be adding video to Instagram smartphone picture-sharing service.

The leading social network invited the media to its headquarters in the Silicon Valley city of Menlo Park where "a small team has been working on a big idea," but remained hush about what will be unveiled.

Online speculation at technology news website TechCrunch and elsewhere has included the possibility that Instagram will start letting people share video snippets in a style similar to a hit Vine app launched by Twitter in January.

Perpetually looping videos clips up to six seconds each can be shared using Vine or easily embedded in "tweets" fired off at the globally popular messaging service Twitter.

Twitter in December added Instagram-style smartphone photo sharing features after the Facebook-owned service made it impossible for Internet users to integrate its images into tweets.

Previously, Instagram pictures shared in messages tweeted from smartphones could be viewed unaltered at Twitter.

Facebook acquired Instagram last year. The original price was pegged at $1 billion but the final value was less because of a decline in the social network's share price.

Other speculation on the Thursday event has included talk that the social network might launch an RSS reader to lure fans of a similar service that Google is shutting down at the end of this month. — Agence France-Presse

source: gmanetwork.com

Sunday

Paul Soros, shipping titan and older brother to George Soros, dies at 87


NEW YORK - Paul Soros, a shipping magnate, philanthropist and older brother of billionaire investor George Soros, died on Saturday at age 87, his son said.

Paul Soros passed away at his New York City home, his son, Jeffrey Soros, said. The New York Times said Soros had been treated for Parkinson's disease, cancer, renal failure and diabetes.

"Through his engineering innovations, philanthropy and personal relationships, he profoundly impacted many lives," Jeffrey Soros said in a statement. "He was loved dearly and will be sorely missed."

Soros was born in Hungary in 1926, according to the Paul and Daisy Soros Foundation for New Americans, a $50 million philanthropic organization he founded with his wife to assist struggling new immigrants in the United States.

He studied mechanical engineering in Budapest and defected from Hungary in 1948 when the country was under Communist rule. Soros later found his way to the United States.

In 1956, he founded Soros Associates, which would become a well-known international engineering firm that brought changes to the bulk shipping industry and built ports and offshore terminals in dozens of countries, according to the foundation's website.

Soros wrote dozens of technical articles and held a number of patents in material handling and offshore technology, according to the foundation.

Later in life, Soros worked with younger brother George investing in mining and industrial companies, according to "Giants of Poly," a biographical tribute published by New York University's Polytechnic Institute, where Paul Soros received a masters in engineering in the early 1950s. Reuters

source: gmanetwork.com

Saturday

Web companies to disclose surveillance info after deal with US


SAN FRANCISCO - Several Internet companies have struck an agreement with the U.S. government to release limited information about the number of surveillance requests they receive, two sources familiar with the discussions told Reuters.

Facebook became the first to release aggregate numbers of requests, saying in a blog post that it received between 9,000 and 10,000 requests for user data in the second half of 2012, covering 18,000 to 19,000 of its users' accounts.

The agreements underscore the pressure imposed on the U.S. government and Internet companies after news leaked last week of a controversial National Security Agency program involving surveillance of foreigners. The disclosure of that program triggered concern about the scope and extent of the information-gathering exercise.

Other Internet companies are expected to release numbers of government requests without breaking out how many originate from the National Security Agencey, the sources said.

Google, Facebook and Microsoft have publicly urged the U.S. government to allow them to reveal the number and scope of the surveillance requests they receive, including confidential requests made under the Foreign Intelligence Surveillance Act (FISA).

Google and Microsoft declined to comment. - Reuters

source: gmanetwork.com

Wednesday

Volkswagen recalls 26,000 cars in Australia


Sydney — German auto giant Volkswagen (VW) on Wednesday recalled nearly 26,000 vehicles in Australia due to a gearbox problem that could cause cars to lose power on the road.

The recall follows growing safety concerns sparked by the death in Australia of a woman while driving a 2008 Golf.

The 32-year-old's car slowed and was hit from behind by a truck on a Melbourne freeway in 2011, a coroner's inquest heard last month.

The news sparked complaints from other VW owners whose cars had also cut out or stopped on busy roads.

"In isolated cases, an electronic malfunction in the control unit inside the gearbox mechatronics may result in a power interruption," VW's Australian branch said in a statement.

The models affected include Golf, Jetta, Polo, Passat and Caddy cars produced between June 2008 and Sept. 2011.

Last week, VW Australia managing director John White said the company "stands by the quality of our cars and integrity of our engineering excellence" and offered free inspections as customer concerns grew.

The move follows similar recalls in other countries, including China where more than 380,000 vehicles were recalled in March over gearbox defects. — Agence France-Presse

source: gmanetwork.com

Tuesday

YouTube founders develop Vine-like service for China


with Vine - Twitter's six-second video service - not working quite well in China, the founders of YouTube have developed a Chinese equivalent of sorts.

The new video recording app for smartphones, dubbed Wanpai, is made by Avos, a start-up created by YouTube co-founders Chad Hurley and Steve Chen after they left YouTube.

“They didn’t think Vine was serving the market. (Vine) wasn’t translated and didn’t work well in China,” Hurley told The New York Times in a phone interview (http://bits.blogs.nytimes.com/2013/06/07/youtube-founders-focus-on-new-video-tools/).

NYT noted Twitter, to which Vine is tightly integrated, is blocked by the Chinese government.

Also, Hurley acknowledged Vine was the "inspiration” for Wanpai, adding Avos’s development team in Beijing developed Wanpai on their own initiative.

Hurley and Chen founded YouTube, which Google bought in 2006. Google is an investor in Avos, the NYT report noted.

Avos has so far kept a low profile and is working on several projects, including Zeen, an online magazine creation tool still stuck in beta.

On the other hand, Hurley said Avos is working on another video tool, MixBit, which he said would be more original.

MixBit is to be released in July or August, and is in private beta testing.

He would only say MixBit would provide an “intuitive” interface to help people create content easily.

Hurley pointed out current platforms for creating and sharing images and videos such as Twitter and Instagram are too focused on self-promotion, and this may intimidate many.

“What we ended up creating at YouTube is a solution for distribution. What hasn’t been solved yet is the act of creation,” he said.

Crowded market

The NYT report said MixBit will enter a crowded market, with Vine having 13 million users after four months, and Instagram expected to introduce its own quick-video product.

Hurley said he is directly involved in MixBit’s development. “This is a tool that I’m going to use,” he said. — TJD, GMA News

source: gmanetwork.com

Sunday

Eurozone crisis is over - France's Hollande


TOKYO - The crippling debt crisis that has ravaged Europe for years is finished, France's President Francois Hollande has declared, despite high unemployment and lingering recession on the continent.

"You must understand that the crisis in the eurozone is over," Hollande told an audience in Japan during a three-day state visit.

Hollande's comments on Saturday came just a week after thousands of people took to the streets of European cities to vent their anger at the "troika" of international powers whose insistence on austerity is blamed for worsening their economic hardship.

There were angry scenes in Frankfurt near the European Central Bank, and in Spain and Portugal -- two of the countries that have received bailouts to help them plug fiscal holes.

The troika of international lenders -- the International Monetary Fund, the European Union and the European Central Bank -- have imposed strict conditions on countries such as Greece and Portugal in exchange for bailout funds.

In Greece and Spain the unemployment rate has reached 27 percent, while Portugal's is forecast to climb to a record 18.2 percent this year.

The figures for youth unemployment are much higher.

Hollande, who was in Tokyo on the first state visit by a French president in 17 years, said Japan and Europe needed to cooperate to forge an economic partnership that would be good for both.

"I want to play a major role in getting an agreement between Europe and Japan," he said, a reference to free trade negotiations that have recently been given the nod.

A Japan-Europe partnership "would be economically good for Europe and good for Japan."

During his visit, Hollande was generous in his praise of Japanese Prime Minister Shinzo Abe's bid to reignite growth in the torpid Japanese economy, a policy dubbed "Abenomics", which he said Friday was "good for Europe".

The prescription blends big fiscal spending, easy money and structural reforms intended to make it easier to do business in Japan.

In the six months since Abe came to power, Japan's stock market has boomed and the value of the yen has slid, giving hope to the country's beleaguered exporters and sending his approval ratings soaring.

For some in austerity-weary Europe, Abe's recipe seems much more appealing than more of the same budget-cutting that Germany -- the continent's paymaster -- insists on.

On Saturday, Hollande said Japan and Europe face the same challenges and must follow the same path to regain confidence and boost growth.

"We must act quickly and efficiently," he told his audience. "This is what Shinzo Abe wants for Japan, this is what I want for France.

"If we work together in Europe and if you, the Japanese make an effort to participate in this new dynamic, together we can change things.

"Seeing Japan committed to a policy of growth is encouraging. We need stable, sustainable and controlled growth." — Agence France-Presse

source: gmanetwork.com

Saturday

Five die in Russian helicopter crash


MOSCOW — Five people died when a helicopter on a commercial flight crashed and burst into flames in a remote region of Far Eastern Russia, the emergency situations ministry said Saturday.

Rescuers found the bodies of four crew members and one passenger in the burnt-out wreckage of the Mi-8 helicopter in the Khabarovsk region after a two-day search. The helicopter was carrying three tons of cargo, the ministry said.

The helicopter had taken off from the village of Tugur on the Sea of Okhotsk and was flying to the remote inland village of Briakan when it crashed on Thursday.

The helicopter belonged to the flying club of an armed forces voluntary association. Military investigators have opened a probe into a breach of flight rules.

The last crash involving an Mi-8 helicopter in Russia killed nine people in Siberia in May. — Agence France-Presse

source: gmanetwork.com

Friday

European shares near 6-week lows before pivotal US data


London — European shares steadied around six-week lows on Friday pending jobs data which will give the latest clues on whether the US economy is strong enough to warrant an easing of equity-friendly stimulus.

After a year-long rally fueled by global central bank support, equity markets are getting increasingly concerned that the policy cycle could be turning, with the European Central Bank this week saying it is in no rush to launch fresh measures, while US Federal Reserve officials openly discuss when would be the right time to start scaling back quantitative easing.

The creation of more than the expected 170,000 US jobs in May could therefore provide the catalyst for stock market declines, while a very weak number may be a positive.

With so much riding on the data, investors were unwilling to move the market too far in either direction. The FTSEurofirst 300 was down 0.1 percent at 1,176.94 points at 1002 GMT after a volatile morning when it darted either side of the no-change line and held around six-week lows.

"The markets are quite nervous about it ... They need reassurance about QE to be stable, so a strong number would cause a disruption," said Hans Peterson, global head of investment strategy at SEB Private Banking.

Analysts at Bank of America Merrill Lynch estimate that payrolls would have to rise by over 250,000, followed by an eventual second quarter gross domestic product reading showing growth of around 3.5 percent, to spark an unwinding of QE as soon as September. In contrast, readings below 90,000 could pave the way for more stimulus.

"Over the very short run there might be some relief but the general theme is that ... we seem to be losing our mantra that central banks will help us all the way," said Gerhard Schwarz, head of equity strategy at Baader Bank, forecasting a correction of 10 percent or more into the third quarter.

SEB's Peterson said for a fresh leg higher, the market would need to shift from being supported by central bank stimulus to finding comfort in improving economic fundamentals - a shift from the current stance when bad data is 'good' for stocks:

"The market has to mature into a new trend and that mindset change will take time ... It's time be a bit more conservative."

Reflecting the more cautious mood, Thomson Reuters Lipper data showed U.S.-based funds pulling money out of European equities for a second week in a row, with an outflow of some $1.8 billion - the biggest weekly drain since late 2011. — VS, GMA News

source: gmanetwork.com

9 Effective Tips to Save on Car Insurance for Teenagers



Car insurance for teenagers can cost as much as five times more than the rates for adults. This is because of the greater driving risk involved in teenagers evidenced by greater number of accidents and higher number of serious injuries and fatalities compared to adult drivers.


In order to lower actual rates and maximize your teen’s auto insurance coverage, you can give your teen a simpler or older car; let your teen keep a good driving record; let him keep a clean insurance record; enroll him to a driver safety education; get your teen a safer car; let him maintain good academic grades; keep the mileage low; keep the car safe; and apply for multiple policies with your insurance company. To help you save on auto insurance costs for your teenager, here are proven tips you can consider:

Give your teen a simpler or older car

A brand new sports car would make a very nice birthday gift for your beloved teen, but if you want to save to insurance costs, this would not be a smart move. Remember that one of the factors that make up an expensive car insurance would be a brand new car because of its high book value. A sports car would also be expensive to insure with its higher horsepower compared to a four-door sedan. With a stronger car, your teen would tend to drive faster, making it more prone to accidents and damages. If you are giving your teen an older car model, you can also save by dropping collision coverage.

Let your teen keep a good driving record

If this is not your first year in getting your teen a car insurance and he or she had a good driving record, you can ask for a discount from your insurance provider. Most auto insurance companies give discounts to drivers who have not been issued a ticket or those who have not been involved in any accident since they have been driving. Remind your teen that it always pays to be a good driver.

Let him keep a clean insurance record

Aside from having a good driving record, insurance costs may also be lowered if your teen keeps a clean insurance record. It is advisable for him to keep from claiming for very minor car damages from insurance companies in order to avail of discounts.

Enroll him to a driver safety education

Some states require teenagers to get driving lessons first before he gets a driver’s license. Aside from this condition, the cost of getting a car insurance quote for teenagers may also be reduced if your teen had been enrolled to a driving course before driving his own car, most especially if he had good grades. The insurance company would most likely give discounts to responsible student drivers who have had lessons to safe driving than to those who have not.

Get your teen a safer car

Just like in applying auto insurance for adult-driven cars, discounts also apply to teenager-driven cars with safety features. Airbags, anti-lock brake systems, and alarm systems can help lower the insurance cost of your teen’s auto insurance as they reduce risk for injuries as well as theft and damages.

Let him maintain good academic grades

Yes, indeed. If your teen proves to have good grades in school, most especially if he is in the honor roll, you can avail of the good student discount. Most insurance companies offer this incentive to responsible students who are most likely more sensible and responsible too when it comes to driving.

Keep the mileage low

When you ask for auto insurance quotations, companies do ask for estimated mileage your teen has to travel from residence to destination, as well as estimated annual mileage. As much as possible, advice your teen to keep his mileage low and use the car only when needed. Do not encourage weekend road trips and the like. Higher mileage leads to higher risk of meeting accidents, thus resulting to higher insurance cost.

Keep the car safe

Another very important determining factor for insurance premium is the place where your teen brings and parks his car. Insurance companies will be asking where the car will usually be brought and parked. Is the school parking safe? Are the places he goes safe enough, too or are there many reported cases of car thefts and damages? If at home, does he park his car in a covered garage or just outside the apartment? Of course, the more risky the situation, the higher the insurance cost.

Apply for multiple policies with your insurance company

If your teen’s insurance provider with other concerns, such as life or home insurance, also covers car insurance and you get a policy from them, you may be given a discount on your auto insurance for your devotion to their company. Alternately, you can also apply for the whole family’s car insurance policies in one insurance company and be granted of discounts for each of your plan. Do not hesitate to ask your insurer about these discounts to save bucks.

Other discounts you may avail of with your teen’s car insurance include loyalty discount, if you have been with your insurance company for a certain number of years, as well as multiple car discount, when you enroll more than one car for your teen.

source: bripblap.com

Thursday

British author Tom Sharpe dies aged 85


LONDON - British satirical author Tom Sharpe, known for his "Wilt" novel series, has died aged 85, publisher Random House said on Thursday.

The London-born author's "Wilt" series included six books of which the last, "The Wilt Inheritance", was published in 2010.


Sharpe's 1975 novel "Blott on the Landscape" was adapted into a six-part BBC television series in 1985 starring David Suchet as Blott. Reuters

source: gmanetwork.com

Wednesday

Korean movie star Lee Byung-Hun to marry actress Lee Min-Jung


SEOUL -- Top South Korean movie star Lee Byung-Hun, one of the best known faces of the "Korean Wave" of popular culture, will marry actress Lee Min-Jung in August, his agent said Wednesday.

The 42-year-old, who starred in last year's blockbuster costume drama "Masquerade", will tie the knot with longtime girlfriend Lee, 31, in Seoul on August 10, his agent said in a statement.

Lee Byung-Hun is well known as the star of a number of hugely popular television dramas, including the spy series "Iris", as well as for his films.

His role as a swashbuckling gambler in the pan-Asian hit series "All In" has earned him a particularly devoted following in Japan.

As well as "Masquerade," which swept last year's national film awards, Lee starred in the 2000 hit "Joint Security Area" and this year he reprised his role as the villainous ninja Storm Shadow in the Hollywood action blockbuster "G.I. Joe: Retaliation".

He also features in the Hollywood action comedy "Red 2" that stars Bruce Willis and will be released later this year.

Lee Min-Jung became a household name for her supporting role in the mega-hit high school TV drama series "Boys Over Flowers". - Agence France-Presse

source: gmanetwork.com

Tuesday

ADB retains 'AAA' grade rating


Global debt-watcher Standard & Poor's Ratings Services on Tuesday affirmed its highest rating awarded to Asian Development Bank as the assessment on the Manila-based lender's financial profile was hiked.

In a statement, the debt-watcher said it “affrimed its 'AAA' long-term and 'A-1+' short-term foreign currency issuer credit ratings” on ADB. The outlook on the long-term rating is stable.

ADB's ratings reflect the bank's “extremely strong” business profile and “very strong” financial profile, which are the debt-watcher's criteria for multilateral lending institutions, S&P added.

According to S&P,  an 'AAA' – the highest issuer credit rating – indicates that an obligor has extremely strong capacity to meet its long-term financial commitments.

'A-1+' means an obligor's capacity to meet its short-term financial commitment on the obligation is very strong.

“Our business profile assessment is based on our view of the ADB's role, public policy mandate, and membership support,” S&P credit analyst Yee Farn Phua said in the statement, referring to the reassessment of ADB's financial profile to “very strong” from “strong.”

“It also reflects our expectation that the bank will continue to receive preferred creditor treatment,” Phua added.

ADB's financial profile reflects the bank's capital adequacy, funding, and liquidity.

“The funding ratios we calculate for ADB show that the bank has no funding gaps over the next two years and is broadly matched through five years. Our calculations exclude loan disbursements,” S&P said.

“The stable outlook reflects our expectation that the ADB's business profile will remain anchored by larger borrowers treating the bank as a preferred creditor," said Phua. Siegfrid O. Alegado/BM, GMA News

source: gmanetwork.com

Monday

'Fast & Furious' rolls over Will Smith's 'After Earth'


Car chase sequel "Fast & Furious 6" kept racing at U.S. and Canadian box offices, leading all movies for a second straight weekend and finishing far in front of Will Smith and son's new sci-fi film "After Earth."

"Fast & Furious" racked up $34.5 million from Friday through Sunday, according to studio estimates. The sixth installment in the billion-dollar franchise takes the action to London, where stars Vin Diesel and Dwyane Johnson lead their crew on a mission to take down an international ring of mercenary drivers.

In the No. 2 slot was comedy heist caper "Now You See Me" pulled in $28.1 million. The film stars Jesse Eisenberg in the story of street magicians who stage large-scale magic shows during which they rob banks and distribute money to the audience.

"After Earth," starring Smith and his son Jaden Smith, earned $27 million to finish in third place. The film takes place 1,000 years after an apocalypse forced humans to escape from Earth, where a boy and his father are stranded after a crash landing and looking for help.


Universal Pictures, a unit of Comcast Corp, released "Fast & Furious 6." "Now You See Me" was distributed Summit Entertainment, a unit of Lions Gate Entertainment . "After Earth" was released by Sony Corp's movie studio. Reuters

source: gmanetwork.com

Saturday

3 PHL beaches on CNN's top 100 list


Puka Beach in Boracay, El Nido in Palawan, and Palaui Island in Cagayan Valley are among the world's top 100 best beaches, according to CNN.


“We’ve scoured the planet, demanded answers from our most well-traveled friends, colleagues and cohorts, absorbed passionate pleas from readers, researched, investigated and examined the evidence then finally tipped the sand from our shoes, washed the brine from our eyes and put together a pretty good guide to the best beaches on the planet,” said CNN on how it came up with the list.

With over 7,000 islands, it’s not surprising that beaches are big tourist attractions in the Philippines.  “Whatever your mood, there’s something to suit: from kilometers of fine white sand with not a soul in sight, to party strands, to specialist water-sports beaches, to tiny, sandy isthmuses in the lee of tropical islets,” wrote Lindsay Bennett in her globetrotter island guide, “Philippines.”




However, CNN handpicked only three beaches. Puka Beach – named for its puka shell, which means “the sand here is coarse” – is ranked 84th on the list.  Among Puka's amenities Puka has are “powdery beaches, water sports and spas.”

On what makes Puka Beach special, CNN notes: “Puka is the second-longest beach on Boracay Island and relatively empty most times, with no resorts and a limited number of restaurants.”

Number 14 on the list was El Nido, which was featured in the Hollywood movie “The Bourne Legacy.” CNN said it has “powder-fine beaches and gin-clear waters,” which “complement the stunning views of karst limestone formations, empty lagoons, marble cliffs, prehistoric caves and waterfalls.”

“Surrounding waters contain more than 50 species of coral and attract whales, whale sharks, sea cows, manta rays, dolphins and endangered turtles,” CNN noted.

On another list of “The Philippines’ best beaches and islands,” CNN’s Candice Lopez-Quimpo wrote: “If Palawan is indeed ‘the last frontier’ of the Philippines, as it’s been dubbed, the coastal town of El Nido is the gateway to wild adventure.”

Ranked No. 10 was Palaui Island, which is noted for its “glorious white sands (that) meet volcanic rocks and blue-green waters topside.”  Likewise, its “coral gardens and a rich marine reserve meet divers under the surface.”

“Palaui is all about raw beauty,” CNN said, but cautioned, “Treks to get there require battling thorny grass, muddy ground and a mangrove forest.”

For those who want to be far from the madding crowd, CNN has good news: “With no resorts or hotels, Palaui has only two real options: camping under the stars or home stays.” — LBG/HS, GMA News

source: gmanetwork.com










Russia tries to kick habit with anti-smoking law


MOSCOW — Tobacco restrictions came into force in Russia on Saturday which President Vladimir Putin hopes will create a healthier workforce and help reverse a population decline, but they face stiff opposition in a country where four in ten people smoke.

The measures, part of a law Putin signed in February, include a ban on smoking at schools and universities, museums, sports facilities, hospitals and on public transport - in many cases places where it is already prohibited.

A minimum price for cigarettes is expected to be set next January and the biggest challenge to Russia's cigarette culture will come in June 2014: a ban on smoking in cafes, restaurants and hotels, and on tobacco sales at street kiosks.

Nearly 40 percent of Russians smoke, compared with 27 percent in the United States and 30 percent in France, according to the World Health Organization's latest figures.

The average Russian life expectancy is 69, against 79 in the United States and 82 in France, according to the World Bank.

There are doubts about enforcement, and widespread debate among Russians over the impact of the new law.

Adopting it was the right thing to do, said Moscow resident Alexander. "I plan to quit smoking and hope this will help."

But opponents say it will not work and infringes on the rights of smokers. "Our country is not ready for this law," said prominent legal expert Mikhail Barshchevsky, likening it to former Soviet leader Mikhail Gorbachev's unpopular effort to crack down on drinking under his "perestroika" reforms of the late 1980s.

"This is not a law about fighting smoking, it's a law on genocide against smokers."

He said fines ranging from 500 to 1500 roubles ($15-$50) could lead to bribe-taking by police.

The law is designed to gradually bring the country in line with an international tobacco control pact and wean its citizens off a habit that Prime Minister Dmitry Medvedev has said kills almost 400,000 Russians every year.

Russia's population fell to 142 million in 2011 from 149 million in 1991, the year the Soviet Union collapsed, and experts warn it will fall further.

Putin, who could seek another six-year term in 2018, wants the population to increase instead, and has urged Russians - particularly young people - to live healthier lives.

"ABSOLUTE EVIL"

Restrictions that came into force on Saturday also included a ban on smoking within 15 meters (50 feet) of entrances to airports, subway, train and bus stations, and in the stairwells of apartment buildings, and a reduction in the number of places where tobacco can be sold.

"It's a big step in strengthening the position of our society about the absolute evil that is smoking, but ... I think less has been done than could have been," Russia's consumer protection agency chief, Gennady Onishchenko, said on Friday.

In an early sign that enforcement may be a challenge, police said that for the first few weeks at least, they will issue violators verbal warnings but not fines.

The reason, according to Ekho Moskvy radio, is not mercy toward smokers but a legal oversight - the administrative code has not yet been adjusted to conform with the anti-tobacco law.

"In some cases it is not clear how these measures will be implemented and enforced," said Alexander Lioutyi, corporate affairs director of British American Tobacco's Russian division.

"Who will monitor violations of the law, as the number of policemen in Russia remains the same?" he said.

He said it was too early to evaluate the effect on Russia's $20 billion a year cigarette market, about 90 percent of which is controlled by foreign firms such as BAT, Imperial Tobacco , Japan Tobacco and Philip Morris.

On the streets of Moscow, pack-a-day smoker Igor Kolesnichenko, 40, shrugged after lighting up outside a store were he bought cigarettes. "I'm not sure what is changing now but I don't plan to quit," he said. Reuters

source: gmanetwork.com