Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Duterte's surge causes jitters in Philippine financial market
Published in The Saudi Gazette on 04 - 05 - 2016

Philippine presidential favorite Rodrigo Duterte's vague economic plans and threats to kill thousands of criminals are spooking the financial markets, with one business leader warning on Tuesday the trash-talking politician would bring anarchy.
The key Philippine Stock Exchange index fell on Tuesday for the fifth consecutive day, a stretch that began after Duterte made a speech before top business leaders in which he joked about his penis and vowed to pardon himself for mass murder.
Ramon del Rosario, head of the prestigious Makati Business Club that hosted Duterte last week, wrote a column on Tuesday in the Philippine Daily Inquirer criticizing the candidate's "distinct lack of respect for the rule of law."
"Without the rule of law, there will be chaos and anarchy, and no confidence in our country. Without confidence, there will be no investments, and without investments, there will be no jobs," del Rosario wrote.
With the key stock exchange index down 1.62 percent since Duterte's speech, analysts said investors were nervously waiting to learn more about his economic policies.
"They are not sure about his economic platform because Duterte has always emphasized his campaign on corruption and not what he would do about the economy," research chief April Lee Tan of Manila-based securities firm COL Financial said.
"That uncertainty is causing a lot of investors to stay on the sidelines and wait and see how a Duterte presidency would pan out."
Duterte, 71, enjoys a double-digit lead in the polls over four opponents ahead of Monday's national elections.
This is despite shocking the political establishment with his profanity-laced speeches, which have included cursing the pope and a joke about raping an Australian missionary who was murdered in a 1989 prison riot.
Analysts say his promises of quick fixes to crime and other deep-rooted problems resonate with voters who feel the six-percent economic growth delivered under President Benigno Aquino has failed to improve their lives.
Duterte has been the mayor of the major southern city of Davao for more than two decades. He claims to have fixed crime and thus enabled businesses to succeed there by a ruthless crackdown on criminals.
His critics say Davao is not the utopian society portrayed by Duterte, and point to vigilante death squads that have killed more than 1,000 people there as an example of what the rest of the country can expect if he becomes president.
Aquino, who is limited by the constitution to a single six-year term, warned last week in a thinly-veiled reference to Duterte that the country risked falling into dictatorship.
Duterte campaign manager Leoncio Evasco on Tuesday accused the Aquino government of orchestrating a "vilification campaign" against the front-runner.


Clic here to read the story from its source.