...trading

Philippine stocks surge 38% in 2010

abs-cbnNEWS.com

12/31/2010

MANILA, Philippines - The local stock market posted a banner year in 2010, with the key index surging 37.6%.

As of December 30, the last trading day of the year, the Philippine Stock Exchange index (PSEi), the barometer of overall stock market performance, was up by 1,148.46 points to end at 4,201.14.
PSE Chairman Hans Sicat said strong macroeconomic fundamentals on the domestic front, as well as economic recovery overseas, boosted investor sentiment this year.

"From a sluggish 2009, gross domestic product grew by 7.5% during the first 3 quarters of 2010, on account of the robust performances of the industry and services sectors. Inflation and interest rates continue to be benign. These factors have largely buoyed stock market sentiment and reinforced investor and business confidence," he said.

"Many of the developed, Western economies were showing signs of economic recovery despite the threat of some European nations' bankruptcies. Overall, the major global stock markets were on an uptick this year, improving capital market conditions," he added.

Total value turnover for 2010 reached P1.21 trillion, 29.8% higher than the P930.4 billion registered in 2009. The combined market capitalization of listed issues in the PSE rose by 47.1% to P8.87 trillion compared with P6.03 trillion in 2009.

Preliminary figures also show that foreign investors went into net buying territory in 2010 at P35.6 billion, higher than last year's P14.9 billion.

Total capital raised this year was P84.9 billion, largely from the initial public offerings of Cebu Air Inc., Nickel Asia and IP Converge Data Center Inc., and the stock rights offerings of First Gen Corp., SM Development Corp. and Bank of the Philippine Islands. This was an improvement over the P38.8 billion raised in 2009.

In terms of sectoral indices, the holding firms index emerged as the best performer in 2010 as it climbed by 110.28% from 2009. This was followed by the Industrial index, with 56% growth.
"As we enter a new chapter in 2011, we remain bullish that the initiatives and reforms we have started will enhance the growth of the capital markets," Sicat said.

Last July 26, 2010, the PSE rolled out a new trading system that is designed to trade a wide range of cash, debt and derivative instruments as well as improve the capacity of the PSE to handle any future sharp increases in its value turnover. The new trading system was developed by the New York Stock Exchange Technologies.

The PSE also completed the transfer of its principal office to Makati City, the financial district of the country, through an office integration project that aimed to increase the efficiency of resources and reduce costs in order to enhance shareholder value.

The PSE board has also approved the spin-off of the exchange's market regulation division into an independent and self-regulatory company to monitor activities of trading participants.

...community service

Philippine pride: Besting CNN in 2009, BBC in 2010

By Lala Rimando, abs-cbnNEWS.com

12/30/2010

MANILA, Philippines – This country of 7,107 islands is not only a breeding ground for peaceful revolutions, world-class singers, seafarers, nurses, and beauty queens; it is also a lush source for award-winning social projects.

Social projects that aim to lift the plight of the country’s underprivileged have bested entries from other parts of the world in 2 international media outfits.

In 2009, Efren Peñaflorida was hailed by American cable news network CNN as the “Hero of the Year.”
In 2010, the Ram Pump Project by a non-governmental organization based in Bacolod in the Visayas region was named by the British cable news network BBC as the winner in the “World Challenge.”
Both competitions were determined by number of votes cast for the finalists.

CNN Heroes had 2.75 million online votes cast over 7 weeks for 9 finalists, while BBC had about 167,000 people across the globe casting their votes for 12 finalists over about 2 months.

CNN Hero of the Year 2009 Efren Peñaflorida

The votes came after each international media group featured them on TV and online. BBC World News ran six 30-minute programs and ran features about the finalists in Newsweek magazine. CNN ran a star-studded awarding ceremony in Hollywood.

Both aim to inspire. CNN focuses on the individual who makes extraordinary contributions to help others.

Efren Peñaflorida started a "pushcart classroom" to bring education to poor children as an alternative to gang membership. Peñaflorida’s team of volunteers brings around their mobile classroom stacked with teaching materials to different areas they service.

BBC, on the other hand, champions specific projects or small businesses that make a difference at the grassroots level through enterprising and innovative means.

'No Way But Up', an indigenous hydraulic ram pump project in Bacolod, wins in BBC's 'World Challenge'.

 Besting over 800 projects from all over the world was "No Way But Up," an indigenous hydraulic ram pump that uses a river's flow to literally push water uphill to supply water to villagers living in mountainous regions.

The project -- an entry of the Alternative Indigenous Development Foundation Inc. (AIDFI) based in Barangay Mansilingan, Bacolod City -- does not require the use of electricity.

The foundation is led by Dutch ships engineer Auke Idzenga and has introduced the project to over 170 upland villages benefiting 50,000 people.
Peñaflorida received a total of US$125,000 to continue his work, while AIDFI received a US$20,000 financial grant.

...confidence

MANILA, Philippines - Renewed confidence in the Philippine business climate has improved employment and reduced unemployment and underemployment figures in 2010, according to President Aquino.

Aquino said he considered job creation and unemployment reduction as the biggest achievement in the first six months of his administration.

He made the statement after signing the 2011 budget on Monday.

When he assumed the presidency, Aquino said he met local and foreign investors who had renewed their enthusiasm for and optimism in the Philippines, particularly in the booming business process outsourcing industry.

“Our slogan that the Philippines is now open again for business seems to have taken hold,” he said.
“Business processing outsourcing companies have already started and they have been actually doing recruitment that has made some impact on both the employment and underemployment figures.

“Everybody that I talked to, both local and foreign, talked about the renewed and enthusiastic and optimistic way they look at the Philippines.”

For 2010, the National Economic and Development Authority (NEDA) has reported that employment figures generally improved as job creation reached 983,000; unemployment rate was lower at 7.3 percent compared to 7.5 percent in 2009; and underemployment rate improved to 18.7 percent from 19.1 percent last year.

 

NEDA Secretary-General Cayetano Paderanga said the continued improvement in the level of confidence in the Philippines and the implementation of necessary reforms would greatly contribute to the creation of more and quality employment for Filipinos in the years to come.

Paderanga said NEDA was expecting the full-year gross domestic product growth to likely surpass the five to six percent target for 2010, to seven to eight percent this year.

For 2011, the country was expecting more modest growth with the absence of election spending and the still quite fragile global economic recovery, he added.

However, Paderanga said the right policies and continued confidence were expected to help achieve the government interagency Development Budget Coordination Committee’s real GDP growth target of seven to eight percent and a real gross national product growth target of nine to 10 percent.

“With the Aquino administration focusing on improving the lives of Filipinos, we are aiming for high sustained growth. The targets that have been set will sharply reduce poverty incidence and increase per capita income,” Paderanga said.

...techno-savvy

South Korea school robots operated by Filipino teachers

Philippine Daily Inquirer
12/29/2010

SEOUL—Controlled remotely by English teachers in the Philippines, the 29 robots wheeled around the classroom while speaking to the students, reading books to them and dancing to music by moving their head and arms.

About one meter high with a TV display panel for a face, the robots have started teaching English to youngsters at a South Korean city, in a pilot project designed to nurture the nascent robot industry, according to education officials.

The robots display an avatar face of a Caucasian woman and the Filipino teachers can see and hear the children via a remote control system.

Cameras detect the Filipino teachers’ facial expressions and instantly reflect them on the avatar’s face, said Sagong Seong-dae, a senior scientist at the Korea Institute of Science of Technology (KIST).

“Well-educated, experienced Filipino teachers are far cheaper than their counterparts elsewhere, including South Korea,” Sagong told Agence France-Presse.

Kids love them

Engkey, a white, egg-shaped robot developed by KIST, began taking classes on Monday at 21 elementary schools in the southeastern city of Daegu.

Apart from reading books, the robots use preprogrammed software to sing songs and play alphabet games with the children.

“The kids seemed to love it since the robots look, well, cute and interesting. But some adults also expressed interest, saying they may feel less nervous talking to robots than a real person,” said Kim Mi-young, an official at the Daegu city education office.

Kim said some robots may be sent to remote rural areas of South Korea shunned by foreign English teachers.
She said the robots were still being tested. But officials may consider hiring the robots full time if scientists upgrade them and make them easier to handle and more affordable.

Shy ones

“Having robots in the classroom makes the students more active in participating, especially shy ones afraid of speaking out to human teachers,” Kim said.

She stressed the experiment was not about replacing human teachers with robots. “We are helping upgrade a key, strategic industry and all the while giving children more interest in what they learn.”

The four-month pilot program was sponsored by the government, which invested $1.37 million.
Scientists have held pilot programs in schools since 2009 to develop robots to teach English, math, science and other subjects at different levels with a desired price tag of $4,400 to $7,000.

$8,700 each

Sagong stressed that the robots, which currently cost $8,700 each, largely backed up human teachers but would eventually have a bigger role.

The machines can be an efficient tool to hone language skills for many people who feel nervous about conversing with flesh-and-blood foreigners, he said.

“Plus, they won’t complain about health insurance, sick leave and severance package, or leave in three months for a better-paying job in Japan… all you need is a repair and upgrade every once in a while,” Sagong added.

...beaches

'Philippines one of top holiday hotspots for 2011'

abs-cbnNEWS.com

Posted at 12/28/2010

MANILA, Philippines - An Australian travel website considers the country as one of the must-see destinations next year, primarily because of its untapped pristine beaches.

Travel.com.au has released a list of top holiday hotspots and airlines for 2011, citing travel trends and statistics. Other countries included in the list are Brazil, India, United States and New Zealand.

"While affordable airfares and its rich culture were the key factors for Brazil's selection, interest in India continues to rise as well as the Philippines, which is becoming increasingly popular due to the political unrest in Thailand and its untapped beaches," reported news.com.au.

The Australian travel website is also expecting a change in holiday patterns as travelers start to book months in advance to get cheap seats. Among the carriers to watch out for in 2011 are Singapore Airlines, V Australia, Asiana Airlines, Emirates, Thai International Airlines and Korean Airlines.

A small Philippine island was recently named by Travel and Leisure Magazine as one of the world's most romantic travel spots. Pamalican island, more popularly known as Amanpulo, is said to provide couples with "luxurious seclusion" with its 40 pitched-roof traditional villas and a pristine beach with sand "so white it's blinding."

Other islands that made it in Travel and Leisure Magazine's list are Rangali Island in Maldives, Santorini in Greece, and Harbour Island in Bahamas, among others.

Aside from Amanpulo, other popular tourist destinations in the Philippines include Boracay island, Bohol, Camarines Sur and Ilocos. A recent Boracay visitor is Mark Salling who plays "Puck" in the hit TV musical series "Glee."

...running for a cause

'Run for Pasig' certified world's largest race

abs-cbnNEWS.com

12/27/2010

Run for Pasig River finishers near the Mall of Asia, Pasay City. Photo by Zen Hernandez, ABS-CBN News

MANILA, Philippines  – It's certified.
The prestigious Guinness World Records has officially declared the "10.10.10 A Run for the Pasig River" as the largest footrace event in the world.

The race, held last October 10, saw 116, 086 runners crossing the finish line with the aim of helping clean up the polluted Pasig River.

It has now overtaken the record by San Francisco’s "Bay to Breakers" race in 1988.

It also broke the official Philippine record of most number of runners in a foot race.

The race, which was organized by the ABS-CBN Foundation, had 3 race divisions - the 3k, 5k and 10k.

Local celebrities and national figures, including ABS-CBN honcho Eugenio "Gabby" Lopez III, ABS-CBN Foundation head Gina Lopez, Manny Pacquiao, and Piolo Pascual had joined the event.

Days before the race, Gina Lopez said she was confident the said run will break records.

She said participation in the race "will send the message that Filipinos care, and that united we can make a difference, and united, we can break world records. We all care about cleaning the river, so everybody should make things happen because this is the pulse of the nation.” – With reports from Dyan Castillejo, ABS-CBN News

...pug King

Pacquiao tops Sports Illustrated's boxing story for 2010

By Dennis Gasgonia, abs-cbnNEWS.com

Posted at 12/25/2010

MANILA, Philippines – Manny Pacquiao’s exploits in the world of boxing was picked by Sports Illustrated as their top boxing story for 2010.

Columnist Bryan Armen Graham, who compiled Sports Illustrated’s Top 10 boxing stories for 2010, said the Filipino boxing hero has penetrated the American sporting mainstream “like no Asian-born athlete in history”.

“He's won major sanctioning-body titles in eight different weight classes, nearly half of the sport's 17 divisions. He was the subject of a 60 Minutes profile in November, less than 12 months after being named one of Time magazine's 100 most influential people,” Graham said.

Graham also cited Pacquiao’s success in politics, having been elected as the lone representative of Sarangani province.

Last March, Pacquiao defended his world Boxing Organization (WBO) welterweight title by outpunching the defense-conscious Joshua Clottey. This was followed by his 12-round demolition of Antonio Margarito last November.

Graham has branded 2010 as “the year of Pacquiao.”
Also selected by Sports Illustrated as Top 10 boxing story of the year is the breakdown of the fight negotiations between the camps of Pacquiao and undefeated boxer Floyd Mayweather Jr.

“The much-anticipated showdown between Mayweather and Pacquiao nearly came together twice in 2010. But it rapidly came apart over Mayweather's demand that Pacquiao submit to a blood test up until the day before the fight -- and Pacquiao's refusal to acquiesce,” said Graham.

The boxing columnist said the much awaited Pacquiao-Mayweather fight has become an obligation needed to quench every fight fan’s thirst.
“It wouldn't just be a showdown between the sport's two best pound-for-pound fighters, it'd be the most delicious clash of styles boxing fans have seen in ages: Pacquiao's oppressive, offensive force against Mayweather, the foremost defensive tactician of our generation,” said Graham.

...surname

Guam senator a Batangueña

By Maricar Cinco
Inquirer Southern Luzon
12/26/2010

SENATOR SAM Mabini of Balayan, Batangas, is the first Filipino senator in Guam.

 

 

SAN PEDRO, Laguna—Her roots go back to Balayan, Batangas, but Sam, whose real name is Shirley Abinales Mabini, said she had no evidence of her lineage to the country’s revolutionary hero, Apolinario Mabini.

But growing up in Guam, she could not but toy with that possibility. There are streets in Guam named after Apolinario Mabini, who also hails from Balayan. He was exiled along with many other Filipino revolutionaries at the start of the American occupation in 1901.

Jogging in Guam’s Asan Park almost daily, she quickly made her favorite place the spot where a monument to the famous hero now stands. (In fact, there are two Mabini monuments there.)

“I never dug into it, but I’m proud of my last name,” said Mabini, in an interview with the Philippine Daily Inquirer at the passengers’ waiting area of the Ninoy Aquino International Airport.

Clad in denim pants and a shirt which read “I am a proud Filipina,” she came without any security aide to catch a flight for Cebu to attend a relative’s wedding.

It was her first visit to the Philippines since she was elected the first Filipina senator in Guam in November.

Service to community

The elections also made history as two Filipinos won in the 15-seat legislature.
About half of the population in Guam claims Filipino descent.

From Cebu, Mabini will head to the United States to spend the holidays before she formally takes her oath of office on January 3.

If there is one thing that links Mabini to the Filipino hero, it is her urge to serve her community—composed not only of Filipinos but native Guameños as well.

“Service is in my blood,” she said.

As a young girl, Mabini remembered staying after school to volunteer teaching English to the refugees of the Vietnam War, many of whom migrated to Guam during the ’70s.

She collected boxes of old magazines and romance novels which she would then donate to poor communities. She also used to volunteer for animal clinics.

Humble beginnings

In 2007, Mabini, with friends Roy Adonay and lawyer Elizabeth Cena, started the only Filipino language talk show on FM radio, “Damdaming Pinoy.”

She said the program discussed Filipino sentiments, from education to business, and served as a “life connection” to the thousands of OFWs (overseas Filipino workers) in Hawaii and the United States.

Mabini said she came from a poor family. Her mother, Antonia, 74, a seamstress, lived by “kuskos-bote” or washing used bottles to earn a living. Her father, Larry, worked as a carpenter in Batangas, until he found a job at a construction site in Tamuning, Guam.

“They never finished elementary school, so education was one gift they wanted me to have. The importance of education was drilled into my head,” Mabini said.

In Tamuning, Antonia used to plant vegetables in their backyard, while the children frequented the beach to collect “sukid” (sea shells) and crabs so the family would have something to eat.

“It was not an easy life. They worked hard to earn the money they paid for my high school education,” Mabini said.

She said she did not want to be a burden so she worked hard and earned two full scholarships in the University of Guam and in the University of San Francisco.

Mabini finished her Master’s Degree and Doctorate in Work, Community and Family Education at the University of Minnesota.

A piano for her mom

“My mom’s biggest dream was to walk into a big house with a piano. She said maybe one day, my daughter could buy me one. And I did! I became a pianist and had my own baby grand piano,” she said.

Mabini said she owed her passion for education and public service to her mother. It was also her mother who introduced her to Philippine culture and values by taking her back to Batangas from time to time to visit relatives.

Mabini said she misses the warm Christmas celebration in the Philippines and the Parada ng Lechon (roasted pig parade) in Balayan. She said she misses being in the small town, where everybody knows everybody.
“I wouldn’t have gotten all these if I were not taught Filipino values,” she said.

Not a career politician

Mabini worked as a professor of education and business. She was also appointed acting director of the public library system and served as the general manager of television network PBS Guam.

“But I realized that no matter how big your dreams and good your ideas were, sometimes they’re just not enough,” she said in a mix of English and slang Filipino.

Being a rookie politician of the Republican Party, Mabini said her win would allow her to help a larger number of incoming new residents with the planned transfer of the US military base from Okinawa, Japan to Guam.

She said an influx of more than 20,000 people, among them Filipino teachers and OFWs, is expected.
Mabini eyes legislation that will improve the educational system by focusing on career and technical education.

 She believes graduates should be guided on the appropriate skills training and the career path they should take.

When she ran for office, Mabini said she was never after the prestige and never considered politics as a career, but as “access to the right people who could make a difference.”

“Now that I am a senator-elect, I am seated with the top people in the prefecture who make the biggest decisions that have the biggest impact,” she said.

The Filipina-Guamanian senator is hopeful she can make now make an even bigger difference to improve education and public service in Guam.

...galing ng Pinoy

DFA cites OFWs contributions, PH achievements in int'l arena

abs-cbnNEWS.com

12/24/2010

MANILA, Philippines – The Department of Foreign Affairs (DFA) on Friday admired the perseverance of overseas Filipino workers who continue to contribute to the growth of the Philippine economy.

“We pray for the safety and well-being of our beloved overseas Filipinos and their families. May all of your sacrifices in the name of family bring forth dreams fulfilled and a brighter future,” DFA Secretary Alberto Romulo said in his Yuletide message.

On the eve of Christmas, Romulo also expressed the DFA’s gratitude to the Foreign Service personnel in 94 Philippine embassies, consulates general and missions “who faithfully serve at the front lines of Philippine diplomacy and consular services.

Romulo also cited the many achievements that the Philippine government has made in the international arena.
He said the DFA participated in the following international fora where the country made great strides in advancing its interests:

* In New York for the 65th UN General Assembly, the 2nd ASEAN-US Leaders Meeting, the signing of the MCA Compact Agreement, pull-aside talks with President Obama, and bilateral meetings with Vietnam, Malaysia, and Singapore, as well as business meetings promising P2.7 billion worth of investments;
·         In Hanoi, Vietnam for a State Visit and the 17th ASEAN Summit and Related Summits, where, among others, the ASEAN member-states adopted the President's proposal for an ASEAN Nautical Highway or an ASEAN Ro-Ro to promote further connectivity among the various ASEAN states and its peoples; and
 ·         In Yokohama, Japan for APEC 2010 where the President secured investment pledges worth $3.655B from three Japanese companies and mounted an appeal for the leveling of the playing field on the issuance of travel alerts.

He added that during President Benigno Aquino III’s first 100 days in office, he interceded for the lives of Filipinos facing death penalties in Malaysia and China.

“Under his guidance, government representations continue for the commutation of death penalty cases in the Middle East. Distressed OFWs in Kuwait, Bahrain, Jeddah, Maldives and Martinique have been repatriated in addition to seafarers rescued from Somali waters,” said Romulo. 

He added, “With all of these achievements of the Department this year, the Yuletide season brings with it more than the usual holiday cheer. We have every reason to keep the faith with the promise of a better country for our people”.

...growth prospect

PHL economy to surpass 2010 target — Paderanga

12/23/2010

The strong economic results the Philippines posted in the first half will drive the gross domestic product or GDP to grow beyond the 5-6 percent target this year, Socioeconomic Planning Secretary Cayetano Paderanga Jr. said Thursday.

The economy will likely grow between 6 and 7 percent, Paderanga told reporters in a briefing.

With the residual effects of election-related spending and pump-priming efforts of the government early this year largely over, the seasonal Christmas spending will drive the economy during the last three months of the year and expand domestic output by at least 6 percent, according to Paderanga who is also the National Economic and Development Authority’s secretary-general.

This would help the economy to grow roughly 6.5 percent in 2010. "To get to 6.5 percent, you will need to grow by 6 percent in the fourth quarter. We expect fourth quarter growth to be at least 6 percent," he said.

While the government is keeping an optimistic outlook for 2011, saying it expects to achieve 7-8 percent in GDP terms, Paderanga thinks it would not be easy with the global economy showing signs of moderation.

"It would be easier to hit the target for 2010, because of election-related spending and robust recovery," he said.

To egg on the economy next year, government will review its policies with a view to luring more investments, Paderanga said.

The GDP, a measure of the value of goods and services, grew 7.3 percent in the first quarter, 7.9 percent in second quarter, and 6.5 percent in the third quarter.

From January to September, economic growth averaged 7.2 percent or above the full-year 2010 target of 5-6 percent set the Development Budget Coordination Committee, a Cabinet-level inter-agency body. — JE/VS, GMANews.TV

...target goal

Philippines expects to surpass 2010 GDP growth goal

abs-cbnNEWS.com

Posted at 12/23/2010

MANILA, Philippines (UPDATE) - The country will likely surpass its 2010 GDP growth target of 5% to 6%, with growth possibly hitting as much as 7%, Socioeconomic Planning Secretary Cayetano Paderanga said on Thursday.

Paderanga said the government was also hopeful of achieving its growth goal of 7% to 8% next year despite some signs of moderation in the global economy.

The Philippine economy expanded by 6.5% in the third quarter of the year, below market expectations and slower than the growth in the second and first quarters of 8.2% and 7.8%, respectively.
Seasonally adjusted GDP contracted by 0.5% in the third quarter.

The National Economic Development Authority had said economic growth was expected to lose some strength as effects of government pump-priming and election spending early in the year have faded.
GDP growth for the first 9 months, however, averaged 7.5%, well above the full-year 2010 target. - With a report from Reuters

..opera goes pop

'Prince of Popera' is a Filipino

Don Tagala, ABS-CBN North America News Bureau

 12/23/2010

MANHATTAN, New York - A Filipino singer is belting out popular pop music tunes in operatic style and drawing in fans of both genres.

Jonathan Badon is known as the “Prince of Popera”—a pop music performed in operatic style popularized by operatic singer like Josh Groban.

Like Groban, Badon, classically-trained Filipino artist, is bridging the gap between opera and pop.

“I mix pop and classical to reach out to the common people so that is more appealing kasi,” said Badon.

He is the son of Remedios Badon, a sarzuela singer in the 70s and the younger brother of Kelly Badon, a former guitarist of the band Side A.

Music lovers who hear Badon performs for the first time instantly become fans.

“I had a great time. I was really inspired tonight by the poetry, by the music," said Joshua Grant.
The multi-awarded artist is also known as the Best Global Filipino Performer for 2010.

Badon is in New York and New Jersey for a number of performances. He will head back to the Philippines in January to promote his Ilocano album, “Sika”.

...oppurtunity

PHL, Switzerland form group to promote job opportunities for OFWs

12/22/2010

GMAnews.TV

A Philippine-Swiss joint working group (JWG) has been formed to promote job opportunities in Switzerland for prospective overseas Filipino workers (OFWs).

The Department of Foreign Affairs (DFA) said the JWG was convened at the Swiss Federal Office of Migration (FOM) last December 16.

“The JWG will give particular attention to prospective hospital employers of Filipino nurses, whose entry into Switzerland as professional trainees is covered by the existing Philippine-Swiss trainee exchange agreement," the DFA said in its website.

According to the DFA, the JWG – an initiative of Philippine Ambassador Maria Theresa Lazaro, Labor Attaché Manuel Imson and the Swiss FOM officials – will seek to maximize the Philippine-Swiss Agreement on the exchange of trainees.

Consul Lilibeth Pono, Labor Attaché Imson and two FOM officials were appointed as member focal points of the JWG, while the Philippines Overseas Employment Administration (POEA) and the FOM were identified as agency focal points.

In forming the JWG, Philippine officials noted a minimal number of trainees who have so far availed of the exchange agreement.

The exchange agreement, signed in 2002, has provided for the deployment of 50 trainees per country per year, but according to the DFA, only about 20 trainees from the Philippines have been deployed to date.

“The low turnout may be attributed to the lack of awareness about the agreement by potential employers and trainees," it said.

In its first meeting, the JWG decided to review and streamline procedures for the hiring and deployment of trainees.

Also, it aimed to design a model trainee agreement acceptable to both the Philippines and Switzerland.

The group also decided to formulate an information dissemination and marketing plan to identify and attract prospective employers in Switzerland.

“The group has expressed optimism that upon the full operationalization of the Agreement, new windows of opportunity will be opened. These include the expansion of the quota on the number of trainees and the increased flexibility in the categories of skills of trainees to be qualified under the agreement," the DFA said. - Jerrie M. Abella/KBK, GMANews.TV

...perseverance and determination

Pinay int’l student tops class in San Francisco

By Henni Espinosa, ABS-CBN North America News Bureau

12/22/2010

SAN FRANCISCO – Twenty-two-year old Mikhaelle Padilla Viernes is on top of the world — or at least at the top of her class.

Among the 300 students who graduated from the College of Arts and Sciences in the University of San Francisco last week, Viernes emerged as the summa cum laude.

Only the top 2% of the class receive this highest honor.

“I’m honored. I worked really hard and I feel successful in the endeavors I took — despite the hardships. I’m happy and I feel blessed,” said Viernes.

Viernes was an international student from the Philippines. In 2008, Viernes left behind her family and friends in the Philippines to study Applied Economics in the US. She received her F1 or student visa.

“Considering that the US is a first world country, I was hoping to learn valuable economic lessons that I could someday use to help the Philippines,” she said.

But her first few months in the US were not easy.

“I felt like an outsider coming in. But then after awhile, I got used to it. I got to know other people,” she said.

She also knew that not everyone is given the chance to study abroad, and so she persevered.
USF professor Sunny Wong said, “She’s really hardworking, very smart as well.  She always tries to do her best by studying hard.”

Viernes is just among the 700,000 international students who enrolled in US schools last school year. These foreign students pay top dollars — investing about $200,000 for a four-year course.

Viernes’ mother, Pearl, said their sacrifices are worth it. She said, “We are so proud of her not only as a child, but also a Filipina who is at the top of her class.”

Even with the tough economy, Viernes said she’s determined to land a good job.

She said, “Hopefully, I find a job in finance because that’s what I want to do for now.  I’ll just have to start looking for work and we’ll see how I can go from there.”

Viernes, who is now on an Optional Practical Training (OPT) visa, can work anywhere in the US for a year until she can find an employer who can sponsor her for a work visa. Balitang America

...the economy that was and is to come

Politics, foreign funds jump-start PHL economy

VICTOR D. SOLLORANO, GMANews.TV

12/212010

 

Two incendiary changes this year helped jump-start the Philippine economy — down but not out — as it reeled from the global financial meltdown that began in the US in 2007.

The most obvious was the changing of the guard in Malacañang, with then President and now Pampanga 2nd District Rep. Gloria Macapagal-Arroyo, completing her nine-year rule.

President-elect Benigno Aquino III and his Cabinet came in as a breath of fresh air and a band of purported idealists. But idealism alone cannot rescue hostages.

In the aftermath of the Aug. 23 hostage-taking incident, Sen. Joker Arroyo branded them the student council in Malacañang.

Analyn Perez, GMANews.TV

While he wasn’t purely a political novice to the core, Aquino’s record as a representative and a senator was clearly unblemished for having achieved hardly anything during his cameral term.

In his inaugural speech on June 30, 2010, Aquino vowed to stamp out corruption, follow the straight and narrow path, and spur the economy that nearly gave in to the shocks of the financial crisis that spurred a global recession to which the world’s largest and strongest market economies in Asia, America, and Europe had succumbed.

He promised to curtail government spending, with the national coffers nearly broke and a gapping deficit of P325 billion equivalent to 3.9 percent of the economy in GDP or gross domestic product terms.

There was a kind of euphoria in response to the pronouncements of the 51-year-old bachelor from Tarlac and Quezon City.

At least, he wasn’t merely ranting but staying true to his word when it came to his vows to eschew the wangwang and counterflow that for many Filipinos came to symbolize the arrogance of power under the Arroyo and previous administrations.

Impact of the May 10 polls

For many of the 90 million or so Filipinos, he was becoming a symbol of hope, a harbinger of change.

The impact of the May 10 elections that brought PNoy to Malacañang was reflected by the stock market the very next day. The Philippine Stock Exchange index or PSEi surged 120.87 points to 3,262.95, a 3.85-percent gain that was the biggest for the measure in nearly nine months.

“First, finally elections are over," Astro del Castillo, managing director of stock brokerage First Grade Holdings Inc., told GMANews.TV at that time. “That’s one less headache for us. And it has been peaceful and orderly."

There was a clear mandate for PNoy, lending a semblance of political stability, popular support, and business confidence.

The timing augured well for the Philippines, whose agriculture sector had just been devastated by a prolonged drought from the El Niño phenomenon and a series of typhoons, mostly in the main island of Luzon.

Plus, the export sector was nearly annihilated as overseas customers whose economies were down on their knees lost the capacity to place their usual orders. Many Philippine companies instituted drastic cuts in working hours to curtail operating expenses, a lesser evil compared to a total retrenchment.

The missing ingredient

The other shift was in the direction of foreign investments.

As the US economy continues to falter on its way to recovery and the euro debt crisis continues to raze Europe’s market economies, those magic words — political stability, popular support, business confidence — convey a kind of magic to foreign and domestic fund managers.

The missing ingredient in the form of solid macroeconomic numbers, however, was not yet there. It arrived 17 days after the May 10 elections, and just over a month before Aquino was to deliver his inaugural address in taking the helm of government.

Its harbinger was the National Statistical Coordination Board or NSCB, reporting on May 27 that the Philippine economy in GDP terms grew 7.3 percent during the first three months of the year.

A quarterly comparison of the Philippines' GDP. Source: NSCB. Graphics: Einstein Rojas, GMANews.TV

Considering the economy was almost stunted at 0.5-percent growth in the same quarter a year earlier, and with most of the world economies still suffering from the impact of the depression, it was hailed as a surprising rebound for the Southeast Asian nation’s economy.

The National Economic Development Authority (NEDA), a Cabinet department, earlier projected the economy was likely to grow between 2.9 percent and 3.9 percent in the first quarter of 2010.

It was not a result of Aquino winning the presidency but a confluence of the global economy slowly recovering from the depression, business and consumer confidence encouraged by the impending change, and the most obvious: election-related spending.

The flow of goods and services has stirred growth this way, as explained by NSCB director-general Augusto B. Santos: "The economic growth in the first quarter of 2010 translated to an increase in employment of almost two million (1,730,000). Employment creation was seen more on services, followed by industry."

He also did not miss the point that the Philippine economy is primarily consumer-led, the kind that depends a lot on the money sent by overseas Filipino workers to their families back home — obviously, as local salaries based on the mandated P485-a-day, minus taxes and other deductions, simply pack little spending power.

“The continued strong inflows of remittances and the increase in employment particularly in services both fueled consumption," Santos said in reporting on the first quarter GDP.

The first quarter GDP results were not about the impact of Aquino but the macroeconomic fundamentals that fund managers had been waiting for to cue them in.

Money from abroad deluged the stock market, pushing the PSEi to break its own record highs.

The chief market strategist of BDO Universal Bank, Jonathan Ravelas, told GMANews.TV on June 3 the market was still riding on the positive impetus of the 7.3-percent growth in the gross domestic product for the first quarter, with investors expecting the economic conditions to have a compelling impact on corporate earnings.

He was speaking on the day the PSEi rose 65.67 points, or 1.99 percent, to close at 3,355.23.

World Bank warns vs risks

With foreign funds obviously stirring up equities markets not only in the Philippines but also in East Asia as a whole, where economic prospects hold more promise than in the US and Europe, World Bank economists raised their forecast to 8.9 percent from 8.7 percent for the region.

"The economic recovery in East Asia and the Pacific is robust, but attention must now turn to managing emerging risks which may pose challenges to macroeconomic stability," the multilateral lender said in its outlook for East Asian economies, excluding Japan.

Asia's rebound has attracted an influx of capital that is pushing up the value of some currencies, which might hurt exports. Some governments have intervened in foreign exchange markets to slow the rise of their currencies, raising fears of a potential "currency war" that might disrupt trade and growth, the Associated Press reported on Oct. 19, citing the WB outlook.

In such a situation, the bank called on East Asian countries to control such risks with a common approach so as not to derail the export sector’s recovery. [See Exports, OFW money to boost peso, foreign banks say]

The flow of money into East Asia also threatens the regions’ banks as borrowers might in the end bear the cost of servicing such huge sums of capital, increasing the likelihood of non-payment of loans, according to the bank.

Manix Abrera, GMANews.TV

Cheap imports, more consumption

Despite the concerns raised by WB on currencies, LaidTrades.com analyst Ron Alcoba saw things in a different light, the peso in particular.

“One main factor that is affecting the peso exchange rate is the level of remittance (dollars) from abroad that is sent back to the country. For those who do not know, about 11 percent of the country’s gross domestic product or simply total output comes from the money sent home by overseas Filipino workers (OFWs)," according to Alcoba’s analysis on the global equities and foreign exchange forum online.

In a separate commentary, Alcoba said the Philippines “is not an export-based country so even if the country’s export sector gets negatively affected, it would not reflect badly on its overall output."

A stronger peso would make imports cheaper and encourage more consumption, at the same time allowing Philippine “companies to better access and purchase technology that were once scarce, making the processes of local industries more efficient," the LaidTrades analyst explained.

OFWs sent home $15.456 billion in the first 10 months of the year, up 7.9 percent from $14.231 billion a year earlier, according to the Bangko Sentral.

The money sent home by OFWs totaled $1.673 billion in October, a new monthly record signaling the advent of money transfers for the Christmas season, the central bank said in a report on remittances.

“Christmas is very much celebrated in the Philippines since more than 90 percent of its population are Catholic. Christmas shopping and giving gifts to family and friends have always been an indelible part of Filipinos’ culture," said Alcoba.

With that kind of tradition at play, “remittances from abroad will surely soar during the holiday season… More money spent would then benefit the individual businesses and the whole economy in general which would likewise reflect on the currency (peso)," according to Alcoba.

“Moreover, improved consumer sentiment during this season would lead investors towards the higher yielding assets and away from the US dollar. Such would also indirectly benefit the peso exchange rate," he added. — HS, GMANews.TV

...literary masterpiece

Pinay author in longlist for Man Asian Literary Prize

12/21/2010

 

Author Cris Yabes at the Turtle Islands in Tawi - Tawi.

Filipina writer Criselda Yabes has made it to the longlist of the prestigious Man Asian Literary Prize 2010 for her first fiction novel Below the Crying Mountain.

She is the lone Filipino among the 10 contenders that include Nobel Prize for Literature winner Kenzaburo Oe, who wrote The Changeling. The others in the longlist are:

Three Sisters by Bi Feiyu
Way to Go by Upamanyu Chatterjee
Dahanu Road by Anosh Irani
Serious Men by Manu Joseph
The Thing About Thugs by Tabish Khair
Tiger Hills by Sarita Mandanna
Hotel Iris by Yoko Ogawa
Monkey-man by Usha K.R.

Now on its fourth year, the Man Asian Literary Prize is an annual award that recognizes the best novels by Asian writers and carries a cash prize of US$30,000.

A shortlist of five novels will be announced in February 2011 and the winner will be announced during awarding ceremonies on March 17. This year's judges are British writer Monica Ali, Harvard University professor Homi Bhabha, and Malaysian novelist Hsu-Ming Teo.

Yabes is a journalism graduate of the University of the Philippines (UP) in Diliman and has worked for several international news agencies. In 2008, Below the Crying Mountain won the UP Centennial Literary Prize for fiction in English.

The Man Asian Literary Prize website described her book as follows:

In Below the Crying Mountain the Moro rebellion that broke out in Sulu in the 1970s and that continues to wound the nation is seen vividly through the lives of the mestiza Rosy Wright, the Tausug girl Nahla, the rebel leader Prof. Hassan, the soldier Capt. Rodolfo as well as in the quest of the book’s narrator. The personal is political as war fuels the clash of emotions, histories, and cultures.

Among the five published books of Yabes are Sarena’s Story: The Loss of a Kingdom, which won the UP Centennial Literary Prize for Creative Non-Fiction.

Yabes lived in Paris for several years before returning to Manila in 2006. An excerpt from her latest book on Mindanao scheduled for publication next year was recently featured in the series of articles on the Ampatuan massacre anniversary on GMANews.TV, where she is an occasional contributor. - Jayme Gatbonton/YA, GMANews.TV

...the youth power

Alcala bags Singapore Youth crown

Manila Bulletin - Monday, December 20

 

MANILA, Philippines - Malvinne Ann Alcala capped her remarkable campaign in the Singapore Youth International Badminton Championships 2010 by beating local bet Xiaoyu Liang, 21-15, 21-18, to rule the girls' Under-17 crown at the Yio Chu Kang Sports Hall last Sunday in Singapore.

The 15-year-old Alcala got off to a hot start then held off the rallying Liang in the second set with a steady game to pull off the 37-minute victory before a dejected hometown crowd. "It was tough but I really gave my best shot to win this one," said Alcala, who reached the main draw of the tough Hong Kong Super Series last week. "This win only proved that we can be at par with the best."

The victory came on the heels of her 21-16, 21-19 triumph over Indonesian Febtria Adistra Ratoputri in the semifinal round. She earlier beat Nastasia Kristiani Patricia, 21-4, 21-7, then booted out another Indonesian, Uzchi, 21-8, 21-13, before downing Wing Yung Ng of Hong Kong, 21-11, 21-13, in the quarters.

The top-seeded Alcala's latest triumph also made her the player to beat in the Ming Ramos-Victor National Open, Youth and Corporate Badminton Championships unfolding Dec. 27 at Club 650 and PSC Badminton Hall. Registration for the Ming's-Victor Cup is ongoing, according to the organizing Philippine Badminton Association.

"This win is also a big boost for Phl badminton. I will continue to strive hard and train to bring more honors to the country," said Alcala, who also cited PBA president Amelita "Ming" Ramos for providing and supporting the Filipino players' campaigns abroad.

Alcala's title romp also averted a shutout for the Filipino campaigners who reached the semis in the other age-group divisions but lost their bids and settled for bronze medals.

...pambansang kamao

Pacquiao named for 'Boxer of Decade' award

December 20, 2010

mb.com.ph

The Pambansang Kamao in Action. The punch that Margarito never forgets.

MANILA, Philippines — Manny Pacquiao heads a cast of champions nominated by the World Boxing Council (WBC) for the coveted Boxer of the Decade (2001-2010) award.

Also vying for the award are Americans Oscar De La Hoya and Floyd Mayweather, Ukrainian Vitali Klitschko, Mexican Erik Morales and Thai Pongsaklek Wonjongkam.

Pacquiao was also nominated for the Boxer of the Year award, alongside Argentinian Sergio Martinez and Canadian Jean Pascal.

The WBC, headed by Jose Sulaiman, said the winners of the awards will be announced by the end of the year.

The past ten years have been amazing and memorable for Pacquiao, who fought a total of 19 times on US soil, winning 16 (12 by KOs), drawing twice and losing only once.

Since his electrifying American debut in June 2001, Pacquiao has been in the ring with the crème dela crème of prizefighting, racking up victories over the likes of Oscar De La Hoya, Ricky Hatton, Miguel Cotto, Erik Morales, Marco Antonio Barrera and Juan Manuel Marquez.

This year alone, Pacquiao chalked up two impressive wins over much bigger men: Joshua Clottey of Ghana and Antonio Margarito of Mexico.

In 2011, Pacquiao is booked to surface possibly against Shane Mosley in a welterweight title fight at the MGM Grand in Las Vegas after a year-long absence.

Through the years, Pacquiao has received award from almost every award-giving body.

The 32-year-old Pacquiao, regarded as the current pound-for-pound king, has won the Fighter of the Year award from the Boxing Writers Association of America (BWAA) three times, the same number of times The Ring magazine also named him for the same award.

The BWAA also named Pacquiao The Fighter of the Decade aside from being recognized by sports publications as the world’s premier puncher.

...sustainability

Philexport sees sustained export growth in 2011

By EDU LOPEZ

mb.com.ph

December 19, 2010

The Philippine Exporters Confederation (Philexport) is confident that the export sector's strong recovery this year would be sustained in 2011.

Philexport forecasts that export earnings would hit $50 billion by the end of 2010 compared to last year's level of $38.4 billion.

Total export sales from January to September 2010 already reached $38.298 billion, led by the electronic products.

Philexport president Sergio Ortiz-Luis Jr. told a recent Philexport general membership meeting that the foreign exchange rate may not affect this year's revenue forecast, citing the peso's depreciation to P44 despite the influx of dollar remittances sent by the overseas Filipino workers for their families during the Christmas holidays.

The peso closed at P44.15 to the US dollar on Thursday from previous day's P43.94. The high growth path may no longer come from Philippine traditional trading partners, said Ortiz-Luis.

He said that exports to the United States and Europe continued to decline until September this year, an indication that economies of these countries have not fully recovered.

In contrast, sales to the ASEAN trade bloc have accounted for 30 percent of total. And for the whole of East Asia, Philippine exports already represents close to half of all exports at 41 percent, he added.
Ortiz-Luis sees bright market prospects in Asia, particularly China and India.

"China and India alone have a combined population of 2.5 billion people, millions of them getting more prosperous each day. We need to find out what we can produce in abundance that the Chinese and Indians may want to buy," he said.

The government is helping industry players open and expand markets with these two huge markets as well as with other new trading partners like New Zealand and Australia.

"This new decade, more Asian countries are riding on the crest of the third and perhaps final wave of rapid development in the rest of Asia. We now know where we are going and must move in concert now and get there."

Ortiz-Luis said the aggressive push in opening up new markets with the country's trading partners in Asia plus the market for halal food in the Middle East was specifically spelled out in the new Philippine Export Development Plan (PEDP).

The PEDP for the years 2011 to 2013 is now being fine tuned in time for implementation starting next month.
Apart from this initiative, another new strategy that has been added in the plan is the strengthening of the value chain.

This is through new investments and long-term partnerships for each of the export industries, particularly those that use indigenous raw materials like food processing, furniture, handicrafts, fine and fashion jewelry and Christmas décor.

...fighting for what is right

Filipina caregivers win $70K-plus in back wages

By Cesar Nucum Jr.
INQUIRER.net
12/19/2010

SAN FRANCISCO, California, United States—Two Filipino homecare workers reached a settlement over unpaid wages with which they will be paid over $70,000 in unpaid wages and penalties by their employer.

The Filipino Community Center (FCC) and the National Alliance for Filipino Concerns in Northern California (NAFCON-NorCal) made the announcement December 17.

Victoria Aquino was handed a check representing part of the $60,000 due her in back wages and restitution, while Lourdes Aquino was given a check payment for her full claim of $11,000. The checks were presented by their lawyer Marci Seville, who is also director of the Women’s Employment Rights Clinic (WERC), a nonprofit organization helping abused caregivers.

“This community and worker victory is a landmark case among the thousands of Filipino migrant workers leaving the Philippines every day in search of work abroad, many ending up right here in the US as caregivers,” said Terrence Valen, FCC director. “We are inspired by Tita Vicky and Tita Lourdes standing up and fighting for their right to a fair wage. FCC and NAFCON-NorCal will continue to work with them and thousands of others facing similar workplace rights violations.”

The case of Aquino and Torres underscores the widespread exploitation occurring in the caregiver industry.
Aquino and Torres worked as live-in caregivers, on call 24 hours a day, solely responsible for six patients at Parks Family Rest Home. They toiled 14 or more hours per day without being paid the required San Francisco minimum wage and overtime pay, or receiving legally required meal periods.

Aquino told FilAm Star she started working for Parks Home in 2007 when she was already over 60 years old at the time, worked 7 days a week, singlehandedly and lovingly caring for six elderly and disabled patients, cooking every meal, cleaning, sorting and dispensing of up to 14 medicines per patient, doing laundry, and helping to maintain the three-story care home facility. At times, some patients hurt her physically.

“When I went to the Philippine Consulate in 2008 to check on my passport, I saw a brochure of the Office of Labor and Standard Enforcement (OLSE) and after being told by employees of the consulates what OLSE does, I went to their office where I was attended to right away and was made to sign a complaint,” recounted Aquino who is from Sta. Ana, Manila and a legal immigrant.

Aquino added that the OLSE immediately investigated the care home after she reported every shortcoming of her employer, to include coercing her to sign incomplete employment papers.

“The owner was so alarmed by the complaint I filed that a reliever was hired right away,” she said. “But that did stop us from still working long hours from 6 a.m. to late in the evening, and was then on call all night for patient needs.”

The reliever turned out to be Torres who shared the grief suffered by Aquino and later on decided to file her own complaint as well.

The women also sought help and found the support of the FCC and WERC at Golden Gate University School of Law. Together, the FCC and WERC built a growing campaign to support Filipino caregivers and their workplace rights. Aquino and Torres won an initial victory in April 2010, when their workday was reduced from over 14 hours to 8 hours per day, but without any reduction in pay.

While happy that their efforts paid off in the end, Aquino and Torres reminded every one of the lessons learned from their ordeal.

“I hope that owners of care homes, especially those owned by Filipinos, will no longer violate the laws and cause sufferings on fellow Filipinos,” said Aquino to FilAm Star. “I urge them not to shortchange their caregivers and not abuse them by making them work like a horse.”

Torres, on the other hand, urged fellow workers in the industry to speak out when needed.
“Do not be afraid to let your voice be heard. This is the only way to make the abusive employers pay their employees the right salaries and treat them right,” Torres asserted.

...the art of lighting

Pinoy parols light up Bangkok, two other foreign cities

12/19/2010

The native parol (Christmas lantern), like the talented Pinoy, is well on its way to conquer the world, with some 100 parols from Pampanga province now lighting up Thailand's capital Bangkok even as two other foreign cities are getting set to light up their own Pinoy parols this Christmas season.

The colorful lanterns, which were simultaneously lit in a lighting ceremony in Bangkok last December 9, were provided by the office of San Fernando city, Pampanga Mayor Oscar Rodriguez, who was the special guest at the ceremony.

San Fernando city, which boasts of a major Christmas lantern industry and holds an annual Giant Lantern Festival every December, is considered as the country’s parol capital.

Philippine Ambassador Linglingay Lacanlale joined officials of the Royal Thai government, members of the diplomatic corps and the Filipino community in Thailand, at the lighting ceremony — a historic first in Bangkok according to the Department of Foreign Affairs in its website.

It is not the first time that the parol has been used in other countries.

In 2006, the Philippine Embassy in Vienna held a ceremonial lighting of 60 parols in the Vienna City Hall Square. Parols can now be seen in the annual Vienna Christmas Market. In San Francisco, California, an annual Parol Festival has been held since 2003.

Although its name comes from the Spanish farol, the parol is recognized as the Philippine Christmas lantern.

The star-shaped paper lantern, in part times popularly used to light the path for the ritual dawn mass called Misa de Gallo, is now a favorite local Christmas decoration hung in homes as well as public places, and now not just in the Philippines but increasingly, wherever there are Filipinos.



Proud to be Filipino

At the Bangkok ceremony, Lacanlale explained to the guests what the parol means to Filipinos, saying the parol is an excellent example of Filipino creativity and ingenuity.

The DFA quoted a Filipino teacher who came all the way from the northeastern province of Pithsanulok to witness the event as saying, "I have never felt proud as a Filipino as I do now."

"For the first time in my more than 20 years of living in Thailand, the Embassy shines so brightly with the parols serving to remind us and our Thai friends about a unique aspect of our Christian tradition," the unnamed teacher said.

After the lighting ceremony, the guests were treated to a reception that featured traditional Filipino dishes like lechon (roast pig) and favorite delicacies like puto bumbong (rice cakes baked in bamboo tubes).

The Embassy plans to make the parol-lighting ceremony a yearly event.

Next year, it hopes to display the lanterns in Sukhumvit Road, the main thoroughfare fronting the Embassy.—With Carmela G. Lapeña/JV, GMANews.TV

...power-breaking

Django’ now ranked as world’s No. 1 in pool

abs-cbnNEWS.com

12/18/2010

 

 

MANILA, Philippines – Filipino billiard legend Francisco “Django” Bustamante is now ranked No. 1 in the world of pool according to the World Pool-Billiard Association (WPA).

The power-breaker from Tarlac City rose to the top of the world pool ranking after winning this year's WPA World 9-Ball Championship in Doha, Qatar.

Bustamante has garnered a total 1142 points, 170 points ahead over second place Karl Boyes of Great Britan (972 points).

Sharing the limelight are:
· No. 3 Antonio "Nickoy "Lining (940 points)
· No. 5 Jeffrey "The Bull" de Luna (841 points)
· No. 7 Ronato "Volcano" Alcano (784 points)
· No. 8 Vinancio "Tukao" Tanio (759 points)
· No. 9 Marlon "Marvelous" Manalo (732 points)
· No. 10 Lee Vann "The Slayer" Corteza (704 points)

Rounding up the top 10 are No.4 "The Little Monster" Kuo Po-cheng of Chinese-Taipei (848 points) and No. 6 Niels "The Terminator" Feijen of the Netherlands (600 points). – By Marlon Bernardino

...ingenuity

Inventor develops electric car

By ELLSON A. QUISMORIO

December 18, 2010

MANILA, Philippines — Calling on the Department of Energy: A 54-year-old man in Navotas City claims to have the technology on hand to turn the Philippines into a hub of electricity-powered automobiles.

“It’s very efficient, emission-free and most of all, it’s cheaper compared to other electricity-run cars,” Inventor Ismael Aviso said of his favorite creation, the
At the heart of the Aviso Electric Car is the inventor’s “conversion kit,” which, when outfitted to other vehicles, would ditch a diesel or gasoline-chugging engine altogether. A DC motor and a custom-designed capacitor box, which is the size of two desktop computer central processing units (CPUs) side-by-side, comprise the conversion kit.

“If we can implement this, within three years we can convert every jeep, taxi and bus out there into electric vehicles,” Aviso boldly claimed. “Millions of jobs will be created and the government would no longer need to spend p25 billion a year to combat smoke-related diseases due to pollution.”

Although very confident of the technology that he has created, Aviso’s hopefulness is somewhat tempered by a bit of desperation. He readily admits that he is too cash-strapped to take the next step — mass-production of conversion kits — and seeks government help to change all that.

“I don’t have that much funding. This to me is a diamond, and I’m not going to keep it, I’m showing it to everyone.” The technology, which he began working on part-time in 1992 and full-time in 2003, has already cost him P11 million to develop, thE inventor said.

Inside his shop Thursday in Tumana, Navotas, Aviso keeps a test rig composed of vehicle chassis with four wheels; a simple galvanized iron body (fashioned like a passenger jeep’s); an old, rusty DC motor; a dozen capacitors; six 12-volt batteries (the ones used by tricycles) and cable wires galore. “There’s no engine. Just the capacitors and batteries,” he pointed out.

He ordered an assistant to step on the pedal, causing the wheels to turn quickly and the galvanized iron to rattle rather noisily. “This will run even if I remove the batteries. They’re just there to support the capacitors which have already been charged.”

“This is my breakthrough…to have the capacitors function in place of batteries,” Aviso said.
When compared to the electric jeepneys (e-jeepneys) that have been a familiar sight in Makati City’s Central Business District (CBD) for a couple of years now, Aviso said that his electric car is far more efficient.
“My car can travel up to 10 kilometers for every 1,000 watts, which is more than half of what the e-jeep can travel with 1,000 watts,” he said, adding that charging the capacitor, which can be done at home, will take eight to 10 hours.

As for costs, he said that the capital for each Aviso conversion kit is only $2,100, a fraction of the price of international conversion kits which could reach between $12,000 and $25,000.

...Filipino fashion and creativity

Those Nine West bags? They’re by Rafe Totengco

By Cheche V. Moral
Philippine Daily Inquirer

12/17/2010

Filipino designer is now creative director for handbags of this global brand
KISMET.

That’s how Rafe Totengco describes how he bagged his gig as Nine West creative director for handbags.

The New York-based Filipino designer had been meaning to take a break as he put his eponymous accessories brand on hiatus (he’s not rolling out a Spring 2011 collection). Rafe New York has been a casualty of the bad economy, so that Totengco had entered into a licensing agreement with another company to keep afloat.

“But sustaining it was like pulling teeth,” says the designer. His boutique at Greenbelt, franchised by Tina and Ricco Ocampo, had closed after less than two years.

Deciding to put everything on hold for the brand as he regrouped, Totengco, 42, was introduced “over coffee” to the president and CEO of The Jones Group’s branded businesses, Richard Dickson, in August. The following month, Dickson announced Totengco’s appointment.

The Jones Group owns brands such as Nine West, Jones New York, Anne Klein, Boutique 9, Vintage America, Stuart Weitzman, Enzo Angiolini, as well as licensing agreements with Rachel Roy, Brian Atwood, Jessica Simpson.

“I wasn’t looking for a job,” says Totengco, who’s in town to receive the Pamana ng Filipino Presidential Award from President Aquino. “But I’m glad I took it. It has been incredible.”

Totengco’s initial directive is to steer the handbag businesses of Nine West and Vintage America. For Nine West, which is exclusively distributed in the Philippines by Stores Specialists Inc., it’s to get the woman who buys the shoes to buy the handbag as well.

“I think I made a compelling argument about what I thought Nine West should look like,” he says of his first meeting with Dickson. “Nine West is a global brand, and Rafe sold globally as well. So I know it’s the same woman [who buys both the Nine West shoes and Rafe handbag]. She reads the same magazines.”

The challenge, he adds, is “having that crossover” when the girls buying the shoes also start looking at the bags, “because it’s not like that right now.”

Totengco thinks the current consumer no longer believes an item is special based merely on the price point.

“Everybody shops high-low now,” he notes. “I’ve learned that it can be done even if it’s of a certain price point.”

Pocket collection

Transitioning from a high-end label to a mass brand isn’t much of a stretch for Totengco. Before designers jumped on the bandwagon, he created a pocket collection for Target in 2006. At first it was a move many thumbed their noses at, but he proved everyone wrong: The collection was a huge hit, and it generated attention for his brand as well.

Soon enough, every designer of note had a high-street collaboration.

“That’s what piqued my interest for mass actually... If the [Nine West] shoe [business] is as big as it is, there’s no reason the bags can’t be that, too. [The Nine West customer] likes Nine West because she buys the shoes. It’s not like, Ewww! No reason she shouldn’t buy the bag as well. My goal is to give the bags a clear identity.”

The first handbag collection under his direction will roll out in April. It will distinctly be “chicer, cleaner, more polished, more lady,” he says. For Nine West, he has two senior and two associate designers working on the collections.

While he’s not directly involved with manufacturing, unlike with Rafe, Totengco says his responsibilities go beyond the creative to the back end as well, including cutting costs.

Totengco says he will revive Rafe soon, under a new licensing agreement with The Jones Group. With the recovering economy, he believes the market will soon be ready again for smaller designer brands. “I would never sell my company,” he stresses.

Breather

Totengco, who’s Ilonggo, left the country in 1989 to study at the Fashion Institute of Technology in New York. In 1997, he launched his namesake handbag brand, and was inducted into the Council of Fashion Designers of America the following year.

In 2001, he received the Best Accessories Designer (Accessories Council Excellence) award from the Accessories Council. He was a recipient of the Ten Outstanding Young Men of the Philippines award in 2002.

“When the economy was bad, people wanted names that are secure. But people will be ready for [younger] names again. I could’ve continued, but sustaining it would’ve been difficult. I’m happy to have a breather. The bigger challenge is Nine West. If I’m able to affect that, that’s huge.”

Totengco knows he will need more than kismet for that.

...economic optimism

OECD upbeat on Philippine business

By Michelle Remo
Philippine Daily Inquirer
First Posted 20:31:00 12/15/2010

THE PHILIPPINES got the highest score among selected emerging Asian economies in the Organization of Economic Cooperation and Development’s latest business growth projections.

According to the latest “Asian Business Cycle Quarterly” of the OECD, an international organization pushing for policies and measures that promote economic and social development, indicators point to expansion of businesses in the Philippines in the very short term that is in the next quarter.

“A strong recovery is ongoing in the Philippines driven by strong exports and improving business sentiment,” the OECD said in the paper.

This forecast is consistent with projections by the Philippine government that the economy would sustain growth in 2011.

Results of the OECD study showed the Philippines getting the highest score in terms of leading-composite indicators among selected emerging Asian countries.

The leading composite indicator for the Philippines stood at 103.3 points for the fourth quarter of 2010. Indonesia’s was 100.8; Malaysia, 99.1; Singapore, 100.7; Thailand, 103; China 101.9 and India 100.6.
Leading composite indicators—which include consumer demand, commodity prices, corporate profits, capital investments, stock prices and business expectations surveys—show the potential state of an economy and its business sector.

The OECD said a general expectation of expanding businesses was fit for the Philippines.
The outlook for developing countries in Asia is generally rosy, taking into account their performance so far this year. Unlike industrialized countries in the West, emerging Asian economies have posted robust growth rates this year, thus leading the world’s recovery from the global economic turmoil that peaked in 2009.

In the case of the Philippines, it grew by 7.5 percent in the first three quarters of 2010. Economic officials credited this to improved export income, rising remittances that fuel household consumption, and increase in investments.

The optimistic outlook on emerging Asian markets is the reason for the surge in foreign capital inflows to Asia.