Iloilo News - Bukas Kotse Crime Group Busted

A notorious 'Bukas Kotse' suspect from Jaro, Iloilo City finally fell into the hands of police authorities after victimizing some 20 car owners in this metropolis.

The suspect, Rollen Magno y Cabardo, 31, of Javellana Extension, Jaro, Iloilo City, was caught by operatives of Special Operations Group (SOG) while ransacking the Nissan car of a medical technologist parked in one of the resto bars at Smallville complex along the Diversion Road in Mandurriao district here.

When confronted by the police, Magno made an alibi that he was ordered by his aunt to get her things inside the car but the police declined to believe his tale.

SOG head Supt. Noel Lamsis said they have already initiated several tedious casing operations on Magno's activities for the past three weeks prior to his arrest on Saturday night.

The suspect looted the car of a shoulder bag with P400 cash and several dollar bills. Seized in his possession were three deformed scissors which he reportedly use in his operation and three plastic sachets of suspected shabu including drug paraphernalia.

Lamsis said Magno seems to boldly operate on his own using a Mitsubishi Lancer as a get-away vehicle. The suspect has already victimized at least 20 cars mostly park in big restos and flush malls in this metropolis since January up to the time of his arrest.

Among his prominent victims include former Iloilo provincial administrator Boy Mejorada whom the suspect victimized of his laptop computer and a service firearm in March this year.

The suspect admitted to have sold the laptop computer to his uncle while the firearm was bought by a former classmate in this city.

The SOG chief said that Magno was detained in 2008 for a similar offense but went on with his illicit activity after his release until he was caught red-handed over the weekend.

Lamsis said that apart from thievery, Magno could also be criminally charged for violations of Section 11 of Republic Act 9165 for yielding shabu at the time of his arrest.

Eat Bulaga Show Applies for Trademark Registration

Television and Production Exponents, Inc. (TAPE) filed four applications for trademark registration with the Intellectual Property Office of the Philippines (IPOPHL) for four versions of its Eat Bulaga logo last May 29.

It has been in business since 1981.

Trademark registrations are required in order to obtain ownership and protection for brands and logos. It is granted on a first come, first served basis.It is not mandatory under the law, unlike business name registration, however, when copying occurs, the only basis for legal protection is a trademark certificate.

A certificate of trademark registration is obtained from the IPOPHL. Trademark certificates operate like titles for brands.

IPOPHL is an agency attached to the Department of Trade and Industry (DTI). It issues registration over copyrights, trademarks and patents for protection. (PNA)

China’s new bank loans Slow Down

China's new bank loans for May showed a slowdown from April, though the drop indicates only a marginal tightening of credit. Beijing is attempting to cut back on credit expansion, but cutting back too suddenly could slow down the economy. Finding the middle ground on lending is only one challenge Beijing faces as it attempts to reduce social tensions by dampening inflation without harming growth.

China's new bank loans for May showed a slowdown from April. In May, the country's mostly state-dominated banking sector extended about 551.6 billion yuan, or about $85 billion, in new yuan-denominated loans, down from 739.6 billion yuan in new loans in April.

But the drop in new loans suggests a marginal rather than a sharp tightening of credit. And even as China considers raising interest rates further and implementing other measures to tighten credit, new risks to growth are emerging that will challenge the leadership's resolve in combating inflation.