Business

ERC, Meralco tackle power rate hike

The Energy Regulatory Commission (ERC) sat down with the Manila Electric Co. (Meralco) yesterday to tackle the proposed power rate increase, ERC executive director Francis Saturnino Juan told Inquirer Radio 990AM. Juan said the proposed hike was included in the Commissions agenda for Monday morning. We will listen to the presentation of Meralco (at around 11 am) on its proposed generation charge and the deferment of a portion of its generation charge to mitigate the impact on its consumers for the December billing, Juan said. The hearing, which will be held at the ERCs office at Pacific Center bldg., San Miguel Ave., Ortigas Center, Pasig City, is open to the public. We hope the ERC will come up with a fair and equitable decision on this matter so as to mitigate the impact[on] the consumers, he said. The decision on the rate hike will be made by ERC chairperson Zenaida Cruz-Ducut and Commissioners Alfredo Non, Gloria Victoria Yap-Taruc, and Josefina Patricia Asirit. Meralco is proposing a two-tranche hike P2.23 per kilowatt hour (kWh) increase in December and an additional of at least P1.20 per kWh in February. This will raise the cost of generation to P7.90 per kWh for December, from the existing rate of P5.67 per kWh. Juan explained that the actual rate of impact on residential customers would be P4.15 per kWh because of upward adjustments, including changes in the transmission charge, system loss and value -added tax (VAT). Instead of January, Meralco is proposing that the deferred amount will be recovered in February when it is already anticipating its generation cost will already be lower, Juan said. The distribution utility earlier said it would have to hike generation charges after Malampaya natural gas plant went on a month-long maintenance shutdown, forcing Meralco to augment its energy supplies through the Wholesale Electricity Spot Market (WESM) and power plants using the more expensive liquid fuel. The ERC official said generation costs are expected to go down in the following months after the power plants revert back to using natural gas. But various groups have strongly opposed the proposed rate hike. Even the proposed staggered power rate hike did not sit well with militant group Bagong Alyansang Makabayan (Bayan). The latest price hike, whether collected in full or on a staggered basis, is patently unjust Added costs are passed on to end-users without any government or public scrutiny, Bayan said in a state ment. The House committee on energy is set to investigate the proposed hike Today.

SPORTS

Kobe's latest shoe inspired by Pacquiao

Nike Kobe 9 Elite Flyknit

Los Angeles Lakers shooting guard Kobe Bryants latest Nike shoe, the Kobe 9 Elite, was partly inspired by Filipino ring icon Manny Pacman Pacquiao. The Kobe 9 Elite, which will be available globally in February 2014, is Bryants first high top shoe in a while, as his last five shoes were mid-cut. It looks somewhat like a boxing boot, and Bryant told Joaquin Henson of The Philippine Star that this was deliberate. Manny was getting ready for the (Juan Manuel) Marquez fight two years ago, and I stopped by his training camp, Bryant told Henson. I watched him spar and train, watched him moving, looking at his footwork, trying to learn from him, how he uses his footwork, he added. I asked myself, I wonder if I could move like Manny in a basketball shoe that looks like his boxing boot. The basketball shoe had to be really like Mannys boxing boot. I wanted the high-tops to be responsive to the movement of the ankles. Nike creative director Eric Avar told Henson that it took over two years to develop and produce the Kobe 9 Elite. He (Bryant) wanted high-tops to play like low-tops, and referenced Manny, Avar said. Bryant is returning to action today against the Toronto Raptors after suffering an Achilles injury last April.

Lakers lose to Raptors despite Kobe's return

NBA superstar Kobe Bryant made his much-awaited return but it was not enough as the Toronto Raptors defeated the Los Angeles Lakers, 106-94, Sunday at the Staples Center (Monday morning in Manila). Bryant played for the first time since tearing his Achilles tendon last April against Golden State and was part of the starting line-up. He played for 28 minutes, tallied nine points, eight rebounds and four assists, but also committed eight turnovers and missed seven of his nine field goal attempts. Toronto, who traded away veteran forward Rudy Gay to Sacramento prior to the game, led wire-to-wire and got a career-high 32 points from Amir Johnson while DeMar DeRozan added 26 points. Johnson was nearly unstoppable throughout the first three quarters, making 14 of his 17 field goal attempts. DeRozan and guard Kyle Lowry (23 points) came up big in the final quarter as they held off the Lakers rally. Bryant, who participated in full contact practices with the Lakers in recent weeks, did not seem to be in full game shape yet. His first successful possession of the game was a pass to Robert Sacre, and scored his first point on a free throw in the second quarter. His first field goal came in trademark fashion a triple-pump left-handed bank shot that sent the Staples Center crowd roaring. But Bryant only made one more field goal after that a fallaway jumper and the Lakers as a team shot only 43% from the field. No Lakers starter finished in double digit scoring. Nick Young came off the bench to score 19 points, while Xavier Henry added 17. Pau Gasol continued to struggle, scoring only seven points on 3-of-11 shooting. It was the Raptors first victory at the Staples Center since December 2001. Toronto is now 7 -12 on the season. The Lakers drop to 10-10.

Weather Forecast

Solar-panel sunglasses can recharge your smartphone

Designer Sayalee Kaluskar has turned a pair of Ray-Ban sunglasses into an iPhone charging device by adding solar panels to them. The shades have a small solar panel on each arm, and thats apparently enough to charge your smartphone when the sun goes down. Sayalee has equipped Ray Ban Wayfarers temple arms with solar panels wired to a concealed battery to come up with Shama Shades. The solar-powered Ray Ban sunglasses can charge any smartphone with miniUSB or Lightening connector.

Hackers Stole 2M Facebook, Google Passwords: How to Protect Your Accounts

Any time you logged into Facebook, Google, Twitter, or a host of other popular web services the past month, there may have been a hacker peering over your digital shoulder, sneaking a peek at your password. The information security company Trustwave has revealed that the passwords to 2 million different accounts have been compromised. The malware program Pony forwarded the vast majority of the passwords to a central server in the Netherlands. John Miller, security research manager at Trustwave, said that the hack wasn't due to a flaw in any of those company's servers. "It was the individual users' computers that had the malware installed on their machine," he told ABC News. He adds that the unnamed hackers were most likely motivated by profit. "These passwords were never publicly posted. We can't say for sure, but [the hackers] were probably going to sell them." 9 Things You Need to Do When Your Email is Hacked Many of the services whose users were affected have already taken action. "They may not necessarily inform users with an email," said Miller. However, he adds that affected users will be asked to reset their password after logging into their account. Trustwave analyzed the passwords that were compromised in the hack and saw some of the trends usually associated with bad password security. The most common password was 123456. In addition, nearly half of all passwords used a single character type, such as all lowercase letters or all numbers.

Your horoscope for this week

Sagittarius (November 22-December 21) Keep that Manolo in your mouth, Sagittarius. Certain subject matter is not suitable for public broadcastespecially if it contains the details of your (or another persons) love life. Show that you can be trusted to keep a secret. Youll have a few spotlight dances this week but the most productive and fulfilling moments will happen behind the scenes. Capricorn (December 22-January 19) Hello Ambassador Capricorn. Be the bridge this week connecting people whose paths wouldnt otherwise cross. Just be mindful to stay out of the middle if a pair of people you love starts squabbling. If you take sides, they could both wind up turning their fire on you. If you havent started that de-cluttering mission, grab the rubber gloves and Hefty bags and get down to it. Aquarius (January 20-February 19) Turn down the volume on that rebel yell, Aquarius. This week you might have to gasp! play by someone elses rules. Consider it a strategic move, positioning you for a climb up the ladder of success. Dont worry: Youll be calling the shots eventually. First, humble thyself and pay those dues. Celebrity Apprentice kind of has a ring to it, right? Pisces (February 20-March 20) Between climbing the ladder and connecting with your peeps, Decembers been full of demands. Mondays quarter moon in Pisces helps you bring your own needs back into the equation. If you need to cancel everything and retreat to the spa for a day, well, the sooner the better. Once youre restored, reconnect with a long-distance ally. This could spell money in the bank or a warm bed at night. Aries (March 21-April 19) Relationships are red hot this week, for better and for worse. On the one hand, youre fired up about forming a partnership with someone who is actually in your league. Pursue! Youre also catching flak for failing to meet someone elses expectations. Dont forget where your bread is buttered, Aries. Give priority to the people who have had your back, even if theres no exciting conquest involved. Taurus (April 20-May 20) Confident or cocky? Youre a proud know-it-all Taurus, but instead of trotting out your trivia, get interested in what other people have to say. Youve been missing a great resource who has been sitting right under your nose. Exercise keeps you sane and stress-free (or less stressed for sure). Bundle up for a weekend adventure: Hit the slopes, take a snowboarding lesson, or strap on the cross-country skis. Gemini (May 21-June 20)

As the week begins, tension crackles a colleague or client. If youre not getting your due props, speak up for yourself. Dont just silently seethe while people heap more and more on your plate. Set your limits so that you can do a bang-up job and end the year with rave reviews. Romantically, Mars makes this a red-letter week. Your flirtatious nature is in full effect you might need to tone it down a little so you dont come on too strong. Cancer (June 21-July 22) Youre at the top of your game this week, but leave the losers with their dignity intact. These could be your future allies you just never know. In affairs of the heart, be assertive. People arent mind readers, Cancer, although you wish theyd figure it out and make the first move. Alas, that probably wont happen. Spell out clear instructions for your amour on how to make you happy. Single? Make your interest in a prospective partner unquestionably obvious. Leo (July 23-August 22) Sexy is as sexy does. You dont have to drape yourself over a lowrider or resort to any Cher Horowitz acts of desperation. (As if!) A show of confidence and self-possessed cool is the ultimate aphrodisiac. Fake it till you make it; the process wont take long. Bonus: This shoulders-thrown-back mojo draws a new cadre of friends, dating prospects, and creative collaborators into your world. Virgo (August 23-September 22) Theres strength in numbers this week, Virgo, so bring on that community spirit. While its usually you rushing in for the save, the tables are turned. Tap your social network for support. You might even turn a solo mission into a joint venture; one that brings everyone involved recognition and reward. Early in the week, a romantically restorative lunar phase brings a relationship back into balance. Again, the key lies in asking for what you need instead of giving with hopes that people will return the favor in kind. Libra (September 23-October 22) Burning the candle at both ends, Libra? This week is about working smarter, not harder. The overflow that cant be outsourced should perhaps be trimmed away. Rome wasnt built, renovated, or redecorated in a day. Take the pressure off of yourself and map out your world domination tour in phases. The sweetness of accomplishing the first milestone will buoy you to keep on going. Scorpio (October 23-November 21) Although you hate the idea of hurting anyones feelings, you cant withhold the truth any longer. This weeks even-keeled planets set the stage for heart-to-hearts. Remember that it takes two to tango. Just as youre feeling frustrated by someones behavior, they may be sharing the same experience. Create a say anything vibe where you both get to speak and be heard. Compassion is the key ingredient for keeping your temper at bay.

Legislator Files A Bill To Give Lifetime Tax Exemption To Manny Pacquiao

What could be the best way to pay tribute to a hero who brings pride and honor to the country? Valenzuela Representative Magtanggol Gunigundo thinks boxing champ and Saranggani Representative Manny Pacquiao deserves to be exempted from the responsibility of paying taxes. And he wants it to be for the rest of his life. In fact, Rep. Gunigundo did not hesitate to immediately file a proposed legislation for it. He mounted House Bill No. 3521 to seek a lifetime individual exemption from paying tax for Pambansang Kamao. The legislator, who is a known ally of Pacquiao, clarified that the proposed law should only cover the billionaire boxers personal earnings. The bill does not aim to cover his businesses and all other assets. BIR Reacts As expected, the commissioner of Bureau of Internal Revenue (BIR) Kim Henares does not agree with the proposal. For the feisty commissioner, such a bill could be approved by other legislators to make it legal. But she pointed out that above all, it would not be fair. Pacquiao is a multi-billionaire athlete after winning billions of dollars from his numerous victories (and even losses) as an international boxer. For the past several years, the media has been feasting on his numerous assets, both here and abroad. Pacquiaos Tax Controversy Recently, Pacquiao called a press conference in General Santos City to announce how BIR froze his assets. The commission has been aiming to collect about P2.2 billion of allegedly unpaid taxes by Pacquiao from 2008 to 2009. For his own defense, Pacquiao was reiterating that his earnings from his fights were already taxed in the US, by the International Revenue Service (IRS). The timing was odd. The announcement was made just a few days after he won a boxing match in Macau. Everything went clear when BIR explained its stand on the matter. According to the commission, it was collecting tax for the numerous assets and businesses of the boxing champ here in the country. It also emphasized that until now, it is yet to receive a copy of documents from the IRS, which would prove that Pacquiao paid taxes in the US during those years. Top Rank big boss Bob Arum said his agency would be able to submit those documents in three months. (Top Rank is Pacquiaos promoter and handles all the winnings of the champ in the US.) That was because he admitted that he would ask for copies of those only after this controversy broke out. Both Pacquiao and BIRs camps have been ordered to be silent about the case following a gag order from the Court of Tax Appeals.

INTERNATIONAL NEWS

Israel's Netanyahu to skip Mandela memorial, citing cost (due to high travel costs)
JERUSALEM Israeli Prime Minister Benjamin Netanyahu will not attend the memorial ceremony for Nelson Mandela due to high travel costs, Israeli media reported Monday. Netanyahu reportedly changed his plans to attend after calculating expenses of a short-notice trip to South Africa, estimated at nearly $2 million for travel, security and logistic arrangements. The price tag included chartering a private El-Al plane for about $800,000 and an Israeli air force plane to carry security personnel and gear at a cost of $910,000. Attending the memorial is "unfortunately impossible," an Israeli official told local media. One day before the service, it was not clear who would represent Israel at the memorial set to take place in Johannesburg on Tuesday. Officials were reportedly considering the cost and feasibility of last-minute arrangements for other figures with less complicated and pricey security arrangements, including President Shimon Peres and Speaker of the Knesset Yuli-Yoel Edelstein. Netanyahu has recently come under fire following reports of the high cost to taxpayers of maintaining his official and private residences. According to the report obtained through a petition by the Movement for Freedom of Information operating the prime minister's official residence, as well as his two private homes, cost the public nearly $1 million in 2012 for hosting visiting dignitaries, as well as water bills, flower arrangements and laundry services.