...the positive territory

ADB says Philippines may fully recover from last year’s slump

Philippine Daily Inquirer

 Friday, January 20th, 2012

The Asian Development Bank (ADB) expects the Philippines to partly recover from last year’s economic slowdown, saying that the likely increase in public spending and sustained growth in remittances will support consumption.

ADB expects the Philippine economy to expand by 4.8 percent this year compared with the estimated growth of below 4 percent last year.

The growth forecast for 2012, nonetheless, is still slow compared with the three decade-high growth of 7.6 percent registered in 2010.

“Strong private consumption backed by robust remittance inflows, increasing public investment, and gradual export recovery will support the Philippines’ economic recovery in 2012,” ADB vice president Stephen Groff said in a speech the other day during an economic forum organized by the Foreign Correspondents Association of the Philippines.

The ADB official said a 4.8-percent growth for the Philippines is attainable given strengths of the domestic economy, such as robust household spending, that may help cushion the impact of unfavorable economic developments abroad.

The government’s commitment to increase public spending this year is also expected to give boost to economic growth.

But Groff said that more strategies would have to be adopted for the Philippines to attain an even faster growth over the medium term.

He said the Philippines should diversify its export products, noting that significant dependence on electronics makes the country’s export earnings vulnerable in times of crisis.

Last year, the country saw its export earnings decline in the wake of the crisis in Europe and lackluster growth of the US economy. The US and the euro zone are two of the Philippines’ major export markets.

“This lack of diversification makes the Philippines quite vulnerable compared to its neighbors, while exports continued to grow despite the global slowdown,” Groff said.

He also suggested that the Philippines export more to other emerging economies, as these are seen to grow at a much faster rate than advanced economies.

The United States and Europe account for about 30 percent of Philippine export earnings.

The ADB official likewise stressed the importance of fulfilling the government’s commitment to increase public spending this year following the lower-than-programmed spending last year.

“Lower infrastructure spending largely reflects the administration’s efforts to improve governance and transparency in public projects. While this diligence is necessary and commendable, spending will have to increase to mitigate the impact of the deteriorating global environment,” Groff said.  Michelle V. Remo

...the positive gains

Aquino cites PH economic gains

By JC BELLO RUIZ

January 21, 2012

MANILA, Philippines — President Benigno S. Aquino III said the Philippine economy is drawing good reviews and that this was not just a "tsamba” (fluke) but the result of the reforms he has initiated.

Aquino made the pronouncement during the 66th anniversary of the Liberal Party (LP) at the Balay, Expo Centro in Cubao, Quezon City last Friday evening in an apparent response to former President Gloria Macapagal Arroyo's criticism of the way he is handling the economy.

The former leader's paper titled "It's The Economy, Student," which was presented recently, said the combination of lack of planning and preparation coupled with politics of division caused the economy to slow down under the present administration. Aquino was once a student of Mrs. Arroyo at the Ateneo de Manila University.

"Hindi po nadadaan sa tsamba ang ganitong mga tagumpay (These triumphs cannot be achieved by mere luck)," Aquino said in a speech as he cited a study made by HSBC, a British multinational banking and financial services company, wherein the Philippine economy was projected to become the 16th largest in the world by 2050.

The Chief Executive also cited a survey of the Bank of America-Merrill Lynch which showed that the Philippines has become the third most-preferred market in the world for global fund managers after China and Indonesia.

"Kahit maghapon-magdamag po tayong magsulat ng santambak na reaction paper tungkol sa ekonomiya, kung sa bawat liko ay pansariling interes lang din ang iisipin, wala pa ring patutunguhan ang bansa natin (No matter how many tons of reaction paper that you write about the economy if you will just promote your self-interest, the economy will go nowhere)," he said.

The President said the country was off to a good start in 2012 citing the businesses and investments he has inaugurated.

...the short film awardee

Pinay Canadian wins top honors at film fest

 

by Steve Angeles,

ABS-CBN North America New Bureau

01/21/2012

 

 

LOS ANGELES - Filmmaker Angelina Cantada won top honors during the 7th Annual My Hero Project film festival for best short film titled “Josh.”

 

The My Hero Project Film Festival honors filmmakers and their subjects that have made a difference in their communities.

The nine-minute movie follows a day in the life of Cantada’s friend Josh Vander Vies, a Canadian law student born with no arms and legs. Vander Vies is now a player for Canada’s National Bocce Ball Team.

“I just want to put out a message that we all have challenges in life, but it’s what we do with those challenges there’s always a way to get around the different types of barriers we have,” said Cantada.

Vander Vies, who is a motivational speaker, said being a part of Cantada’s movie gave him a chance to bring his message to a worldwide audience.

“Getting my story out there is something I’m comfortable with already and I don’t do things in my life to inspire other people but I’m happy if things I can do can inspire someone else,” said Vander Vies.

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...the Europe's 'Amazing race' location

Belgium's version of 'Amazing Race' films in PHL

 

By ROWENA JOY A. SANCHEZ

January 19, 2012

Manila Bulletin

 

 

 

‘Peking Express’ will feature various tourist spots in the Philippines

MANILA, Philippines – The Philippines is fast becoming a shooting destination for international entertainment projects, the latest of which is “Peking Express,” considered as the Belgian counterpart of the hit US reality show “The Amazing Race.”

Shortly after cameras rolled in Manila for the Hollywood spy thriller “The Bourne Legacy,” and “American Idol” singer-songwriter David Archuleta started shooting for the TV5 mini-series “Nandito Ako,” a contingent of 61 crew members and talents has flown into the country to shoot five out of 12 episodes of “Peking Express,” reported Interaksyon.com.

Shooting for “Peking Express” is scheduled from Jan. 18 to Feb. 2.

The contestants—composed of eight French couples—will traverse various tourist sites in Luzon. According to Interaksyon, the itinerary “is expected to go through Manila-Bagac-Cervantes-Bontoc-Angeles-Pinatubo Volcano-Quezon-Candelaria-Talisay,” and back to the country’s capital.

The show, which began in 2004 and already in its seventh season, sends couples to hitchhike from one country to another, testing their skills and spirit as teams while learning about a culture different from their own. Competition in the current season began in Seoul, South Korea, and will culminate in Sydney, Australia.

As part of the challenge, each of the contestants are given merely one euro a day (about P56 pesos as of this writing), and must devise resourceful plans in order for them to reach their destinations and fulfill their tasks, with the production team following their quest.

One team will be eliminated per episode until two couples remain to battle it out in the finale.

“Peking Express” has also been adapted in other European territories such as Germany, Scandinavia, France, and Spain.

 

 

 

...the property upgrade card

Philippines upgraded in international property investors’ report card

By: Tessa R. Salazar
Philippine Daily Inquirer

Friday, January 13th, 2012

“In the past, perceived problems with bureaucracy and corruption have deterred foreign investment—‘The Philippines is on our do-not touch list,’ one fund manager commented—but a recent change in government has now improved political stability and created a more probusiness environment..." -  ULI and Pricewaterhouse-Coopers.

How time flies, and circumstances change. In 2011, the local property industry received sobering news that Manila had been ranked “below fair” to “abysmal” by foreign property investors, according to the Emerging Trends in Real Estate Asia Pacific 2011 survey conducted by the prestigious Urban Land Institute (ULI). Global real estate investors then gave Manila 4.56 points out of a possible 9.

But in the latest report, the ULI Emerging Trends 2012 Asia Pacific upgraded Manila from the bottom of the list to No. 18 in Investments.

The 2012 ULI study said Manila’s progress in commercial investment prospects boosted its ranking from 20th place in the 2011 survey to 18th place (out of 21) for the 2012 report. It also said that “a new government and a surge in foreign investment in the business process outsourcing (BPO) market—back office and call centers, for the most part—have helped the commercial real estate market, boosting the city’s 2012 investment prospects.”

Included in the survey are 360 international renowned real estate professionals, including investors, developers, property company reps, lenders, brokers and consultants.

Simon Treacy, the South Asia head of the Urban Land Institute, told Inquirer Property that several factors were instrumental in the two-place improvement, including the new leadership in government—the promise of change, skilled people, opening up of markets and the “very exciting” demand in the business process outsourcing (BPO) market.


He said, “The world is starting to understand that the Philippines is back in the game.”

Fast-emerging market

The ULI study is a publication of ULI and Pricewaterhouse-Coopers. It described the Philippines as a “fast-emerging market.” Part of the report read, “In the past, perceived problems with bureaucracy and corruption have deterred foreign investment—‘The Philippines is on our do-not touch list,’ one fund manager commented—but a recent change in government has now improved political stability and created a more pro-business environment. Rapid growth in the BPO sector—currently responsible for 90 percent of office take-up in the country, according to investment bank CLSA—has led to mushrooming demand for office space.

According to one locally based investor, ‘The Philippines is doing 300,000 square meters per year, and we’re thinking maybe 360,000 may not be unachievable.’”

The report also said, “As with most developing markets, foreign investment in real estate is regulated. Foreigners are barred from taking a majority interest in land, although (unlike in India) they may own buildings or leaseholds relating to it. Banks are willing to provide 60 to 65 percent LTVs, and interest rates are described as ‘very livable: fixed-term five-year money is available at something like 6.5 percent to 7 percent.’

“Bureaucracy continues to be an issue, but interviewees compare the Philippines favorably to other emerging markets in terms of transparency and, perhaps most significant, the availability of options for existing investments in the rapidly evolving BPO sector, which in the voice segment is now larger than that in India.”

The ULI study about the Philippines concludes: “The fact that so many multinationals are now setting up their own in-house facilities increases opportunistic possibilities because ‘if you have a multinational-profile tenant roster, then you can attract (core) funds.’ Investors are looking for returns of 20 percent plus, according to one fund manager, whereas ‘if you buy the building from me and it’s 100 percent or 95 percent occupied, you might be looking at a 10- to 12-percent return.’”

...the world's preferred market

Palace: PH preferred market by global fund managers

 

Yahoo! Southeast Asia Newsroom

19 January 2012

 

 

 

Malacanang is elated over the results of a recent poll that claims Philippines is the third most-preferred market in the world by global fund managers.

Presidential spokesman Edwin Lacierda quoted the Bank of America-Merrill Lynch survey as saying that PH is ahead of China and Indonesia.

"This is borne of expectations that in the wake of four credit upgrades, the country will be further upgraded to investment grade later this year," said Lacierda.

In its website, Merrill Lynch described the Global Fund Managers Survey as a "monthly report that canvasses the views of 300+ institutional, retail, and hedge fund managers around the world. The report provides unique information on consensus expectations for the economy and markets, as well as allocation for assets, regions, and sectors."

...the Asian best actress nominee

Domingo gets Best Actress nom from Asian Film Awards

abs-cbnNEWS.com

01/17/2012

MANILA, Philippines -- The local independent film “Ang Babae sa Septic Tank” received two nominations for the 2012 Asian Film Awards on Tuesday, including one for Best Actress for the movie’s lead star Eugene Domingo.

The movie’s screenwriter Chris Martinez also scored a Best Screenplay nomination for the acclaimed indie film.

Actress Shamaine Buencamino, meanwhile, got a Best Supporting Actress nomination for the indie film “Nino.”

Directed by Marlon Rivera, “Ang Babae sa Septic Tank” is a comedy about three filmmakers who want to make a film about poverty.

Domingo will be competing against India’s Vidya Balan for “The Dirty Picture,” Taiwan’s Michelle Chen for “You Are the Apple of My Eye,” Iran’s Leila Hatami for “A Separation” and Hong Kong’s Deanie Ip for “A Simple Life.”

Buencamino will face against Hong Kong’s Gwei Lun-mei for “The Flying Swords of Dragon Gate,” Thailand’s Cris Horwang for “Headshot,” Japan’s Mitsushima Hikari for “Hara-Kiri: Death of a Samurai” and China’s Yan Ni for “11 Flowers.”

Apart from “Ang Babae sa Septic Tank,” also up for Best Screenplay are “A Separation” (Iran), “Postcard” (Japan). “The Flowers of War” (China) and “Overheard 2” (Hong Kong).

Bid-budget films from Greater China dominated the nominations, led by the Hong Kong 3-D action film “Flying Swords of the Dragon Gate” with seven. The Christian Bale-starrer “The Flowers of War” from China had six.

The Asian Film Awards will be presented on March 19 in Hong Kong, with Singaporean director Eric Khoo heading the jury.

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...the global economic driver

Philippines may become key global growth driver

The Philippines has the potential to become one of the top 10 countries that can greatly contribute to global growth within the decade, Goldman Sachs said.

 

By: Michelle V. Remo
Philippine Daily Inquirer

Monday, January 16th, 2012

The Philippines has the potential to become one of the top 10 countries that can greatly contribute to global growth within the decade, Goldman Sachs said.

According to the investment bank, the Philippines is among the N-11 [Next 11] economies that are likely to advance to the stage of “growth countries,” or nations that account for at least one percent of global gross domestic product.

The N-11 economies are Mexico, Korea, Indonesia, Turkey, Iran, Egypt, Nigeria, Bangladesh, Pakistan, Philippines and Vietnam.

Goldman Sachs said that, except for Vietnam and Bangladesh, all N-11 economies could advance to the “growth” classification.

The investment bank’s projection is anchored on the relatively low incomes observed of most N-11 economies in the past. As a result, the countries have much room for growth and may improve their economic fundamentals significantly.

The nine economies from the N-11, along with the so-called BRICs (Brazil, Russia, India and China), are expected to contribute the most to global growth from 2011 to 2020.

“Growth markets have the potential to be among the top ten contributors to global growth over the next decade,” Goldman Sachs said.

The Philippines grew by 3.6 percent in 2011. In the past decade, it posted an average growth of close to 5 percent.

Goldman Sachs said the growth rate of N-11 countries and BRICs could accelerate further in the decade to 2020, driving much of the global economy.

For 2012, the investment bank expects the global economy to grow by 3.4 percent. Over the next eight years, the growth rate may average at 4.3 percent, led by the N-11 nations and BRICs.

“Average growth rates suggest that global growth is likely to be much stronger in the current decade, at 4.3 percent, than in the past 30 years. This is due to the impetus from the BRIC economies and the other growth markets,” Goldman Sachs said.

...the global shapers

9 Pinoys chosen Global Shapers  By Helen Flores The Philippine Star January 16, 2012

MANILA, Philippines - Nine outstanding young Filipinos were chosen as among the 2012 “Young Global Shapers” of the World Economic Forum (WEF).

The young achievers are Anna Rosario Oposa, Mayor Maria Carmela Alvarez of San Vicente in Palawan, Ponce Ernest Samaniego, Jay Michael Jaboneta, Dr. Bryan Albert Lim, Eleanor Rosa Pinugu, Mildred Ople, television host Bianca Gonzalez, and Alexandra Amanda Eduque.

“The Young Global Shapers are exceptional achievers who initiated projects that have positive impact in the community,” said ABS-CBN news anchor Karen Davila, WEF Young Global Leader 2010 and Founding Curator for the YGS Manila Hub.

The nine individuals – whose ages range from 20 to 30 - have been accepted by the WEF as potential leaders because of their positive impact in their communities, said Davila.

Oposa, 23, co-founded the Save Philippine Seas movement to protect the world’s richest marine life, and “Isko Cleans UP,” a waste management program in the University of the Philippines-Diliman. She is the daughter of Ramon Magsaysay awardee, environmentalist lawyer Tony Oposa.

Alvarez, 24, the youngest female mayor of San Vicente, has a degree in International Business Administration with a concentration in Environmental Technology and Global Marketing Management from Babson College in Boston. She aims to transform the town into a tourist destination municipality using sustainable development technology to preserve its natural environment and help residents become self-reliant in terms of its present and future needs.

Samaniego, 21, is co-founder and chief executive officer of Outliers, a social enterprise that serves as an outsourced business expertise for non-profit organizations.

Jaboneta, 30, founded the movement Philippine Funds for Little Kids that helps schoolchildren in Zamboanga City who had to swim to go to school.  He was the first and former New Media Head of the Presidential Communications Operations Office under President Aquino. He is also a board member of the Kabayanihan Foundation and Team Pinoy, Inc.

Lim is a practicing physician in San Pablo, Laguna. He is a program consultant of the Asian Institute of Management Zuellig Center for Asian Business Transformation, a research associate of the UP Universal Health Care Study Group, and the proponent of the Quisumbing-Escandor Film Festival for Health and serves as adviser in various health-related projects.

Pinugu is the founder of Mano Amiga Academy, Inc, a non-profit school that provides underprivileged Filipino children access to fourteen years of high quality education (K-12th grade), and all other support they need to have a better life. After two years of raising funds for the students’ scholarships through private donations and corporate partnerships, she decided to establish a social enterprise that would generate a steady income for Mano Amiga, and at the same time give employment opportunities to the mothers of the students.

Ople, 25, is an advocate of countryside development through the adoption of innovative agricultural technology with profitable business concepts and ideas. She is also one of the founders of the Hagonoy Young Leaders Program and has worked with the Ayala Foundation on youth leadership and development projects. She is currently taking up law.

Gonzalez was recently appointed as Special Advocate for Children for the United Nations Children’s Fund-Philippines.

Eduque, 21, is involved with various humanitarian projects and endeavors in partnership with Habitat for Humanity Philippines. She has been working with the organization for about seven years now, and is the founder and chairperson of the Habitat for Humanity Philippines Youth Council.

Davila said of the nine achievers, only Oposa, Pinugu and Alvarez were invited by the WEF to the 2012 conference in Davos, Switzerland next week.

The WEF is a Geneva-based non-profit organization best known for its annual meeting in Davos. It is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.

The organization launched last year the Global Shapers community aimed at providing the youth with a global platform to shape the future – integrating personal, community and global dimensions. This community will help youth develop their leadership potential to serve society.

The Global Shapers community includes extraordinary young individuals with great potential for future leadership roles in society. Aged between 20 and 30 years, they represent all walks of life and share a spirit of entrepreneurship in the global public interest, the WEF said.

 

...the economic freedom ranking

Palace grateful for Phl improved ranking on economic freedom By Aurea Calica The Philippine Star January 15, 2012

MANILA, Philippines - Malacanang expressed gratefulness yesterday over a report that Philippines had risen in the world economic rankings to 107 from 115 previously despite a challenging global economic environment.

It also welcomed the HSBC Expat Explorer Survey result, which ranked the Philippines as the eighth friendliest country in the world.

The 2012 Index of World Economic Freedom released on Thursday said among 179 countries rated, the Philippines had the 107th freest economy with a score of 57.1. The report said the country’s score was 0.9 point higher than last year, attributable in large part to a significant improvement in business freedom.

Deputy presidential spokesperson Abigail Valte said over dzRB that the Philippines improved its ranking because of economic expansion and the efforts of the government to pursue legislative reforms to enhance the business environment.

“We are also happy to note that even the report itself, an assessment from (a) third party, notes that our regulatory efficiency has been notably enhanced. This is what President Aquino has always been saying - that we are really after efficiency and government. We have been trying to streamline systems. Business registration that will take anywhere between 24 to 48 hours can now be done in 15 minutes. These are the small things that can help businessmen who want toinvest in the Philippines,” Valte said.

“And the other good news, we’re also happy to note that in one of the surveys conducted by HSBC... And this is why we believe that it really is more fun in the Philippines like what the Department of Tourism is saying,” Valte said.

...the Rossi actress

Alessandra de Rossi bestowed with prestigious award in Italy

By ROWENA JOY A. SANCHEZ

January 13, 2012

Manila Bulletin

Alessandra celebrated Christmas and New Year in Italy

MANILA, Philippines – Filipino-Italian actress Alessandra de Rossi has another award to add to her lengthy resumé after she has been honored with a prestigious recognition in Puglia, Italy.

She personally received her Pugliesinel Mondo 2011 award at the ceremonies held Dec. 17 in Bari, capital of Puglia.

According to a release by the Department of Foreign Affairs, the said award is “given to outstanding citizens born in or originated from the Italian region of Puglia, organized by the AssociazioneInternazionalePugliesinel Mondo.”