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01-04-2012 06:19 This is for combat arms dot tv entry

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A taxi driver who surrendered a bag of valuables that was left in his cab by three male German tourists has become the countrys latest example of why its more fun in the Philippines. The bag, which Sotero Canonoy found inside his taxi on the night of March 23, contained a laptop, a PlayStation Portable (PSP), a cell phone, a wristwatch, some clothes and medicines. According to Tourism Secretary Ramon Jimenez Jr., Canonoys action exemplifies the innate goodness of our countrymen. It gives support to the positive image we wish to portray through our Its more fun in the Philippines campaign, Jimenez said in a statement. We want to highlight these good news as normal than unusual. According to reports, Canonoy ferried the tourists from SM Mall of Asia to NAIA Terminal 1. With assistance of GMA Network, Canonoy sought to find the owners of the bag. According to the statement, the Department of Tourism (DOT) learned of Canonoys deed through radio dzBB. Canonoy's mother, Nanay Cita, a participant in the first Survivor Philippines reality TV series in GMA, suggested that they seek assistance from the network to trace the owners of the items. The DOT said efforts are now focused on gaining more leads from NAIA authorities and the German Embassy to determine the identities of the tourists and ensure that the belongings are returned to them. This is what we mean by tourism is everybodys business. Each little good thing adds up to the fun picture of Philippine tourism. And as important as the first impression upon arrival are the good memories that a visitor brings with him until he departs. In this particular case, the DOT is pleased to note that the DZBB team perseveres in helping resolve this matter. We all are part of the tourism experience as we all are likewise, beneficiaries. We all need to do our share of good, for tourism to make a dent in our economy and in our respective lives, Jimenez said. The DOT chief also enjoined the public to share more good news through the agencys Twitter (@DOTPhilippines) and Facebook (Department of Tourism) accounts, as well as through its new campaign website http://itsmorefuninthephilippines.com. Other honest taxi drivers Canonoy was not the first honest taxi driver reported. In December 2010, Numeriano Balais returned a wallet with more than eleven thousand pesos to its owner.

A few months earlier, another taxi driver Efraem Aguilana returned a bag with valuables and Canadian dollars to its owner, also with the help from dzBB.

In July 2009, George Rafols found a cellphone that was left in his cab and surrendered it to GMA Network, where the owner was able to claim the lost phone.

A year earlier, Confessor Rase approached dzBB news anchor Mike Enriquez for help, and was able to return a bag containing a laptop, $1,000 cash, two cellphones and six passports to its German owner. - Carmela G. Lapea/KBK, GMA News

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Honest taxi drivers: It’s more fun in the Philippines

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British star to help fund sporting prospects on native Isle of Man

Great Britain's reigning world road race champion Mark Cavendish (Team Sky) used Thursday night's Isle of Man Sportsperson of the Year Awards to announce that he will be funding a new scholarship scheme to help the development of some of the island's brightest sporting prospects. Cavendish hails from the island off England's north west coast and he revealed that his own struggles were a motivating factor in his decision to start up the scheme, which will provide annual assistance for three youngsters.

"This island is great at producing sportspeople across all sports and the youngsters deserve the opportunity to get away and show it off," he said, after collecting his award for Sportsman of the Year for the eighth consecutive year.

"I love this island and I really love coming back here, but I know first-hand how difficult it can be to get off it every weekend - both financially and practically. I thought 'now I'm in a position to help people who are in the same position that I was in.'"

"Part of Mark's donation will be used each year to ensure we can send riders to British Cycling's regional school of racing and they will go as members of Cavendish Racing Isle of Man," said Geoff Karran, the island's chairman for sport. "This is a fantastic bequest and gives a fantastic opportunity to young cyclists."

Follow Cyclingnews on Twitter for the very latest coverage of events taking place in the cycling world - twitter.com/cyclingnewsfeed

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Cavendish to start charitable scholarship scheme

Misconception regarding the new general anti-avoidance rules (GAAR) spread panic in the market last week. Rumours are afloat that the tax authorities will use these rules to bring all participatory note (PN) holders and FIIs investing through tax havens in to the tax net.

Given the length to which the FM went to placate stock market players in the Union Budget speech, it is highly unlikely that he will impose a blanket tax on all PNs that make up 16 per cent of the total FII assets currently. Surely he knows that our market is not deep enough to withstand the sell-off that such an event can trigger?

Again the fact that there are many who use PNs due to reasons other than tax planning and that these instruments do not have any interest in the assets of the company are also arguments against taxing them.

But it is also true that a section of funds that enters our stock market is just black money camouflaged as FII money or PNs.

The Government should have the right to take closer look at the source of such money. The tax authorities might investigate a couple of cases and that could prove to be a deterrent to other wrongdoers. It would be wrong to panic at the thought that the tax men will form an army and run down all such cases.

Over time, genuine FII funds will make up for reduction in these funds. Value of PNs is down 60 per cent from the peak of Rs 4,50,000 crore in October 2007 (to end of February 2012). Total FII assets are up 20 per cent in the same period.

Derivative expiry also contributed to the volatility. But there was no bear squeeze and the stocks just slipped slightly lower in to the expiry.

We have a three-day week coming up and most market players might prefer to take off to the hills and beaches after the torrid time in the market last month. Action is, therefore, likely to be tepid next week.

Friday's recovery has helped salvage the daily oscillators and they are reversing higher. Both the Sensex and the Nifty reversed upward from the 200-day moving average last week. Weekly oscillators are dipping but they continue in the positive zone.

The implication is that the medium-term trend continues to be up for both the indices.

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