Latest news with #PDR
GMA Network
a day ago
- Business
- GMA Network
Pasig RTC junks Anti-Dummy Law case vs. Maria Ressa, other Rappler execs
"In this case, this Court finds that the prosecution's evidence is grossly insufficient to establish the criminal liability of al of the accused by proof beyond reasonable doubt," the court said. The Pasig Regional Trial Court has dismissed the violation of the Anti-Dummy Law charges against Nobel Peace laureate Rappler chief executive officer Maria Ressa and five other officers of the news website. In an 11-page order, Pasig City Judge Marie Joyce Manongsong granted the demurrers to evidence Ressa and the other executives –Nico Jose Nolledo, Glenda M. Gloria, Manuel I. Ayala, Felicia Atienza, and James Velasquez. "In this case, this Court finds that the prosecution's evidence is grossly insufficient to establish the criminal liability of al of the accused by proof beyond reasonable doubt," the court said. In the information filed before the Pasig RTC, the prosecution accused Ressa and the others of allowing Omidyar Network Fund, a foreign corporation, to intervene in Rappler operations by issuing Philippine Depositary Receipts (PDR) to the investment firm in 2015. The anti-dummy case is related to a Securities and Exchange Commission order revoking Rappler's incorporation papers on allegations it violated a constitutional restriction on foreign ownership of mass media by issuing PDRs to Omidyar. The court said that the 2018 SEC decision itself did not establish the individual roles of each of the accused in the transfer of PDRs to Omidyar. "From the foregoing, it is apparent that the SEC assumed that each of the accused had a role ni the supposed illegal scheme based on their corporate positions ni Rappler and RHCI. It found such fact sufficient for the imposition of administrative sanctions on the corporations involved," the court said. "Nonetheless, ni the instant criminal case against each of the accused, the prosecution simply adopted the SEC findings in the administrative case and failed ot provide evidentiary support ot the supposed specific acts of each of the accused that led to the issuance of the PDRs to Omidyar," it added. The court said there was no proof of the alleged negotiations between Ressa, as representative of Rappler and RHCI, and Omidyar. It added that the 2018 SEC decision itself showed that not all the accused are directors of RHCI. Atienza and Velasquez, for example, were shown to be directors of Rappler only. "Likewise, the prosecution failed to submit any board resolution, corporate record or any other piece of evidence clearly establishing the involvement of each of the accused in the issuance of PDRs to Omidyar," the court said. –NB, GMA Integrated News
GMA Network
26-05-2025
- Politics
- GMA Network
PH, Lao PDR discuss cooperation in defense, economy, education
KUALA LUMPUR - President Ferdinand ''Bongbong'' Marcos Jr. on Monday tackled defense, economic, and education cooperation with Lao People's Democratic Republic (PDR) Prime Minister Sonexay Siphandone. The two leaders had a bilateral meeting on the sidelines of the 46th ASEAN Summit and Related Summits in Malaysia, Palace Press Officer Claire Castro said in a briefing before the Philippine media delegation. They also discussed the contribution of Overseas Filipino Workers (OFWs) in Lao PDR, particularly in the field of architecture and language training. —RF, GMA Integrated News
The Star
12-05-2025
- Business
- The Star
Soccer-UEFA urged to increase payments to non-elite clubs to reward player development
FILE PHOTO: Soccer Football - Europa Conference League - Draw For Quarter Final, Semi Final and Final - UEFA Headquarters, Nyon, Switzerland - March 15, 2024 General view of the logo on the Europa Conference League trophy before the draw REUTERS/Denis Balibouse/File Photo (Reuters) -The Union of European Clubs on Monday proposed the creation of a financial system that would see continental governing body UEFA share 5% of its revenue from club competitions with low-ranked football clubs that develop elite players. Last year, UEFA said the Champions League, Europa League, Conference League and Super Cup would generate a gross revenue of 4.4 billion euros in the 2024-25 season, 5% of which would be 220 million euros ($244.79 million). Under the proposed system, titled 'Player Development Reward' (PDR), only clubs who did not reach the league phase of the Champions League would be eligible for payouts, which would be based on minutes played in UEFA competitions and prize money earned by players. In a statement, the UEC, which represents non-elite professional clubs, said the PDR is "a pragmatic, merit-based approach to restoring fairness and balance in the football ecosystem... "The concept has already been presented to the European Commission and to key stakeholders across football, receiving encouraging initial feedback," it added. "The core principle is clear: clubs that invest in player development should be fairly rewarded when those players contribute to the success of European competitions." The UEC added that nearly 1,500 clubs across Europe would have received PDR payments if the system had been in place last season, with over 400 clubs earning more than 100,000 euros. UEFA has already committed 7% of its revenue for the 2024-27 cycle to clubs not taking part in men's continental competitions, but the UEC said UEFA's system was "outdated and misaligned with the goals of sustainable football." Reuters has asked UEFA for comment. The UEC was formed in 2022 and is separate to the European Club Association, which is headed by Nasser Al-Khelaifi and says it is the sole representative body of clubs in Europe. The ECA, which has a Memorandum of Understanding with UEFA that runs until 2033, represents more than 440 clubs across the continent, although it is dominated by the big teams. ($1 = 0.8987 euros) (Reporting by Aadi Nair in Bengaluru; Editing by Ken Ferris)
CNA
12-05-2025
- Business
- CNA
UEFA urged to increase payments to non-elite clubs to reward player development
The Union of European Clubs on Monday proposed the creation of a financial system that would see continental governing body UEFA share 5 per cent of its revenue from club competitions with low-ranked football clubs that develop elite players. Last year, UEFA said the Champions League, Europa League, Conference League and Super Cup would generate a gross revenue of 4.4 billion euros in the 2024-25 season, 5 per cent of which would be 220 million euros ($244.79 million). Under the proposed system, titled 'Player Development Reward' (PDR), only clubs who did not reach the league phase of the Champions League would be eligible for payouts, which would be based on minutes played in UEFA competitions and prize money earned by players. In a statement, the UEC, which represents non-elite professional clubs, said the PDR is "a pragmatic, merit-based approach to restoring fairness and balance in the football ecosystem... "The concept has already been presented to the European Commission and to key stakeholders across football, receiving encouraging initial feedback," it added. "The core principle is clear: clubs that invest in player development should be fairly rewarded when those players contribute to the success of European competitions." The UEC added that nearly 1,500 clubs across Europe would have received PDR payments if the system had been in place last season, with over 400 clubs earning more than 100,000 euros. UEFA has already committed 7 per cent of its revenue for the 2024-27 cycle to clubs not taking part in men's continental competitions, but the UEC said UEFA's system was "outdated and misaligned with the goals of sustainable football." Reuters has asked UEFA for comment. The UEC was formed in 2022 and is separate to the European Club Association, which is headed by Nasser Al-Khelaifi and says it is the sole representative body of clubs in Europe. The ECA, which has a Memorandum of Understanding with UEFA that runs until 2033, represents more than 440 clubs across the continent, although it is dominated by the big teams.
Reuters
12-05-2025
- Business
- Reuters
UEFA urged to increase payments to non-elite clubs to reward player development
May 12 (Reuters) - The Union of European Clubs on Monday proposed the creation of a financial system that would see continental governing body UEFA share 5% of its revenue from club competitions with low-ranked football clubs that develop elite players. Last year, UEFA said the Champions League, Europa League, Conference League and Super Cup would generate a gross revenue of 4.4 billion euros, opens new tab in the 2024-25 season, 5% of which would be 220 million euros ($244.79 million). Under the proposed system, titled 'Player Development Reward' (PDR), only clubs who did not reach the league phase of the Champions League would be eligible for payouts, which would be based on minutes played in UEFA competitions and prize money earned by players. In a statement, the UEC, which represents non-elite professional clubs, said the PDR is "a pragmatic, merit-based approach to restoring fairness and balance in the football ecosystem... "The concept has already been presented to the European Commission and to key stakeholders across football, receiving encouraging initial feedback," it added. "The core principle is clear: clubs that invest in player development should be fairly rewarded when those players contribute to the success of European competitions." The UEC added that nearly 1,500 clubs across Europe would have received PDR payments if the system had been in place last season, with over 400 clubs earning more than 100,000 euros. UEFA has already committed 7% of its revenue for the 2024-27 cycle to clubs not taking part in men's continental competitions, but the UEC said UEFA's system was "outdated and misaligned with the goals of sustainable football." Reuters has asked UEFA for comment. The UEC was formed in 2022 and is separate to the European Club Association, which is headed by Nasser Al-Khelaifi and says it is the sole representative body of clubs in Europe. The ECA, which has a Memorandum of Understanding with UEFA that runs until 2033, represents more than 440 clubs across the continent, although it is dominated by the big teams. ($1 = 0.8987 euros)
