Saturday, June 23, 2012

...the smart awardee

Smart Communications bags 3 int’l awards


Philippine Daily Inquirer
 
 
MANILA, Philippines—Mobile telecoms giant Smart Communications Inc. recently bagged three major international awards, including top honors as Operator of the Year, at the  2012 Asia Communication Awards (ACA), winning over Singapore’s Singtel and StarHub, Australia’s Telstra Global, and Laos’ Unitel.




The only Philippine telecom company recognized at the ACA’s Annual Awards Dinner held in Singapore, Smart reaped the biggest number of operator accolades. It also won awards for the Netphone (the world’s first smartphone backed by an operator-managed system) under the Innovation Award category, and Secured Health Information Network and Exchange (SHINE) (Smart’s flagship mHealth program), under the Best Emerging Market Initiative category.

Smart is no stranger to the ACA, having been recognized by the prestigious telecom tilt in 2011 as Operator of the Year and Best in Green Technology.

Its key programs made it to the list of finalists of this year’s ACA: Green Merchandising Program, under the Green Technology Award; Jump Experience Center (the Philippines’ first multidimensional experience center of Smart and mother firm PLDT) under the Customer Service Initiative category; and SmartCares (the country’s first customer care channel on social media for a telco) under the Social Media Initiative category.
Smart president and CEO Napoleon L. Nazareno was also nominated for CEO of the Year.

Smart officials Perry Bayani and Gio Bacareza received the awards from Paul Michael Scanlan, Huawei vice president for solution, sales & marketing.

The ACA recognizes the achievements of Asian telecom companies and individuals responsible for the innovations, achievements and new services that are helping shape the future of the industry.

Organized by Total Telecom, the ceremony is one of the highlights of CommunicAsia, the annual information and communications technology exhibition and conference held in Singapore that showcase key and emerging technologies.

...the PH delisted on FATF

Palace: PHL avoids FATF blacklist, gets upgrade as well


June 23, 2012
GMA News


The Philippines managed to avoid the Financial Action Task Force (FATF)’s blacklist and the strict international financial sanctions that come with it, a MalacaƱang official said Saturday.

Deputy presidential spokesperson Abigail Valte said the Philippines even got an upgrade from the FATF, moving up from the agency’s dark-gray to the gray list.

"The FATF is the international organization that sets the standards and monitors implementation of measures for fighting money laundering, terrorist financing and other threats to the integrity of the global financial system," the Anti-Money Laundering Council (AMLC) explained in a statement.

“(On Friday), the AMLC reported the FATF responded positively to the initiatives of the Philippine government to enhance its transparency and accountability mechanisms in financial transactions,” Valte said on government-run dzRB radio.

“(W)hile we recognize that more needs to be done to strengthen our existing anti-money laundering and anti-financial terrorism measures, we take the satisfaction expressed by the FATF as affirmation of institutional reforms that we have constantly advocated,” she added.

She said Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr., who chairs the AMLC, informed President Benigno Aquino III about the upgrade.

Citing excerpts from Tetangco’s letter, Valte said the FATF “recognized” the reforms instituted by the Philippine government by upgrading the Philippines to its gray list.

Valte said the dark-gray list includes territories that are not making sufficient progress, while the gray list “signifies we are making sufficient progress in addressing deficiencies in our action plans.”

“According to Governor Tetangco’s report, the FATF took notice of the passage of key legislative reforms certified as urgent by the president, in particular the bills he recently signed into law,” she added.

She was referring to the “Act To Further Strengthen the Anti-Money Laundering Law” and “The Terrorism Financing Prevention And Suppression Act of 2012.”

These acts strengthen the capability of the government to identify and prevent financial transactions related to illegal activities and those that undermine global security, she said.

“These reforms enabled the Philippines from being classified and being downgraded to the blacklist which would have resulted in stricter inspections of financial transactions in the country, delayed remittances and higher transaction fees,” she said.

Other measures

Meanwhile, Valte said there is one more measure pending approval of the Senate, adding the senators had promised to take it up once Congress resumes session July 23.

"(T)he FATF said certain strategic deficiencies remain in our anti-money laundering and anti-financial terrorism measures," the AMLC said.

"In this connection, it advised the Philippines to enact the pending legislative amendments to our anti-money laundering law that, among others, extend  the coverage of reporting entities, provide a broader definition of money laundering and increase the number of predicate crimes to include bribery, malversation of public funds, human trafficking, tax evasion and environmental crimes," FATF pointed out.

Valte noted the Philippines is now one step away from being fully compliant with FATF standards.. The gray and dark-gray lists and the black list are in the middle of the four FATF levels, while the bottom level lists countries that are subject to countermeasures.

The Terrorism Financing Prevention and Suppression Act allows authorities to freeze suspected terrorist funds and inquire into bank accounts even without a court order.

AMLC executive director Vicente Aquino earlier warned the Philippines may face drastic countermeasures or sanctions if it is thrown into the FATF blacklist.

"The people [who] will be hit hard or hit hardest are our overseas Filipino workers and their families because these sanctions would result in delayed and costly remittances, high intermediation costs and other charges and these will not also be good for the banking sector," AMLC’s Aquino had said earlier. — LBG/ELR, GMA News

Thursday, June 21, 2012

...the new creditor

Palace: $1B IMF pledge is a case of paying it forward

 
June 21, 2012
 
 
Now that we (the Philippines) have been considered a creditor nation, we feel it is our obligation to assist those nations who require funding from then IMF,”  - Presidential Spokesperson Edwin Lacierda
 
 
MalacaƱang described on Thursday the government’s decision to extend a $1 billion pledge to the International Monetary Fund as “paying forward” the international organization as it has in the past assisted the Philippines during times of crisis.
 
“Now that we (the Philippines) have been considered a creditor nation, we feel it is our obligation to assist those nations who require funding from then IMF,” Presidential Spokesperson Edwin Lacierda said at a press briefing.
 
He said the country had been a recipient of IMF assistance for the past 40 years.
 
Lacierda expressed confidence that the IMF “will act judiciously on the funds” which is expected to help in stabilizing the crisis in Europe.
 
He said there is now a $456 billion standby fund for that purpose and the “Philippines contributed one billion dollars to that fund.”
 
Lacierda said the fund is kind of investment in global stability.
 
“It is our responsibility; it is part of our obligation,” said Lacierda.
 
Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said Wednesday that the $1 billion pledge extended by the Philippines will earn interest while helping other countries beset with financial problems.
 
The pledge to the IMF fund marks the third time that the country has extended a helping hand to other countries that were in troubled fiscal waters. 
 
Since 2010, the Philippines has lent $251.5 million to distressed European countries Greece, Portugal and Ireland.  The country also pitched in $4.55 billion to another buffer fund, the Chiang Mai Multilateral Initiative. — DVM, GMA News

...the Coach

Fil-Am coach Spoelstra on verge of history

06/21/2012
 
 
MANILA, Philippine – Miami Heat head coach Erik Spoelstra will have a chance to make basketball history on Friday when his team takes on the Oklahoma City Thunder in Game 5 of the NBA Finals on their homecourt at the American Airlines Arena.
 
If the Heat win Game 5, they will be crowned NBA champions and Spoelstra will be the first Filipino-American coach to steer his squad to a title in any professional sport in the United States.


Miami Heat head coach Erik Spoelstra calls a play in the first quarter against the Oklahoma City Thunder during Game 4 of the NBA basketball finals in Miami, Florida, June 19, 2012. REUTERS/Mike Segar


Spoelstra’s mother, Elisa Celino, is from San Pablo, Laguna. His Dutch-Irish-American father, Jon Spoelstra, worked as an executive with various NBA teams.

After four years as a starting guard at the University of Portland, Spoelstra briefly considered playing for the Philippine Basketball Association (PBA) in 1992.

In a story by Rafe Bartholomew on Grantland, it was revealed that Spoelstra’s relatives in Laguna sent him videos of local playoff games, and that Toronto Raptors scout Jim Kelly tried to arrange for him to play in Manila.

Kelly had worked as a consultant for PBA teams in Manila and believed Spoelstra could have succeeded as a player in the PBA.

“He was multi-positional. Over there (in the PBA), he could have even been a big guy. But more than that, he was a thinking-man’s player,” said Kelly. “Probably big on heart, a little bit less on skill, and that’s why he’s a good coach.”

But Spoelstra would never play in the PBA; instead, he played for a team in Germany before getting hired as a video coordinator by the Miami Heat in 1995.

Spoelstra has visited the Philippines for the past three summers to conduct basketball clinics. In the Grantland story, Spoelstra reportedly promised that if the Heat win a title, he will bring the Larry O’Brien trophy to the Philippines.

Replacing an icon

Spoelstra became an assistant coach for the Heat in 1997, and was promoted to advanced scout in 2001. After two more years, he was named director of scouting.

His biggest break came when he was handpicked by iconic NBA coach Pat Riley to be the next head coach of the Heat.

Since then, it has been a remarkable journey for Spoelstra, who has been credited with helping develop the perimeter game of Heat superstar Dwyane Wade.

In his first season as head coach, Spoelstra steered the Heat to a 43-39 record, third in the Southeast Division. They were booted out in the first round of the playoffs. In the next season, they improved to 47-35 but got eliminated in the first round again.

Spoelstra would be under tremendous pressure during the 2010-2011 season, when the Heat acquired superstar LeBron James and Chris Bosh through free agency, joining Wade in a South Beach version of a “Big Three.”

The Big Three’s first year under Spoelstra was a struggle, and they fell short of expectations when they lost in the Finals in six games to the Dallas Mavericks.

Following that Finals loss, Spoelstra’s job security was questioned, but Riley announced last December that the Heat extended Spoelstra’s contract.

“We have one of the great young coaches in the league,” Riley said at the time. “We want to extend him and keep him in the family and not have someone steal him away from us.”

Second title

This season, Spoelstra once again steered the Heat to the Finals, where his team are on the brink of only the second title in franchise history.

Along the way, he encountered a few problems, including an argument with Wade during a timeout of Game 3 of their second-round match-up against the Indiana Pacers.

Spoelstra brushed off the incident, however, saying it happened during a “very emotional part of the game.”

“Those exchanges happen all the time during the course of an NBA season. Dwyane and I have been together for a long time. We’ve been through basicall everything... That really is nothing,” he said.

The Heat eliminated the Pacers in six games to book a place in the conference Finals, and Spoelstra was commended by James for the adjustments he made against Indiana.

“Coach Spo from Game Three on made some unbelievable adjustments that allowed us to do the things we did,” James said.

“He put us in a position offensively and defensively to make the plays, to help us win,” he added.

“Just as he says that we played spectacularly, he coached spectacularly this series.”

In the conference Finals, the Heat overcame a series deficit to oust the Boston Celtics in seven games, booking their second straight Finals apperance.

Although they lost Game 1, the Heat have since reeled off four straight wins.

“Coach Spo” now stands on the brink of history, though he insists the job was far from done.

“It was a normal day of work, long film session, went through some things in practice, and now, we’re going to try and rest up and get our bodies and minds right for this battle tomorrow night,” Spoelstra said.

“It’s Game 5, but we gotta treat it like it’s Game 7. We are preparing for Game 5 to protect our homecourt and to take care of business,” he added.

James, who has been spectacular against the Thunder, seems to fully trust that Spoelstra will help them get the job done.

“Coach Spo and the coaching staff will give us a great game plan, and I’ll make sure myself and my teammates are ready to execute it,” he said.

...the PH Office Market

Bright prospects seen for PH office market


Philippine Daily Inquirer


“The Philippines is becoming the lifeboat for many US and European companies that need to outsource in order for their businesses to survive and actually preserve jobs back in the US and Europe..." -  Rick Santos, CEO, CBRE

Metro Manila continues to be the most cost-effective office destination, outperforming 18 other central business districts, according to real estate services and advisory firm CB Richard Ellis (CBRE) Philippines.

As economies in the West tighten, CBRE pointed out that the strong demand for alternative office locations has pointed multinational companies toward Asia and has opened opportunities for the Philippines.


Makati Central Business District, Makati City

“The Philippines is becoming the lifeboat for many US and European companies that need to outsource in order for their businesses to survive and actually preserve jobs back in the US and Europe,” noted CBRE chairman and CEO Rick Santos. “All eyes are now moving from BRIC [Brazil, Russia, India, China] economies to TIP [Turkey, Indonesia, Philippines] economies.”

Based on data provided by CBRE, the average office lease rates in Metro Manila stood at $22 per square foot a year. In contrast, the top six countries that have the highest rates were Hong Kong-Core Central with $200; Beijing CBD with $173; Tokyo, $162; Shanghai-Puxi, $121; and Mumbai-BKC and Singapore, $117.

On a local note, however, rental rates in Metro Manila CBDs, namely, Makati, Fort Bonifacio, Ortigas, Alabang and Quezon City, have noticeably increased in the first quarter of 2012 as against the previous year’s levels.


Fort Bonifacio Central Business District, Taguig City


Ortigas Central Business District, Pasig City



Alabang Central Business District, Muntinlupa City

Cubao Central  Business District, Quezon City

These rate increases, CBRE noted, could be attributed to tight office space supply and strong pre-leasing demand.

“Pre-leasing is back. The office sector goes from strength to strength, with a surge of pre-leasing commitments in the central business districts,” Santos said. He noted that these pre-commitments were being sustained by several factors, including cost anticipation, securing space, expansion and consolidation.

According to CBRE, office space demand was catching up with supply, particularly in the major business districts where office space requirements were on a steady uptake with no signs of a slowdown. Average occupancy rates during the first quarter of this year hovered at 96 percent.

CBRE explained that the sustained expansion of the outsourcing and off-shoring industries, as well as the limited tenant turnover, continued to put pressure on the already tight supply.

Although new supply of traditional and BPO office space was scheduled to come online in the second half of this year, it was not expected to do much to alleviate the situation, the firm noted.

As it is, of the 293,000 square meters of anticipated new supply, about 232,000 square meters have been pre-committed. The limited supply continued to put an upward pressure on office lease rates, CBRE said.

“We urge developers to push through with their planned projects and to avoid any delays and to capture all potential investments in the country. Developers with multiple office projects in their pipeline have the advantage over other developers as these provide confidence to lessee’s expansion projections,” CBRE said.
“Office market will continue to be active and (it is guaranteed to be at its peak in) the next two years,” it added.—Amy R. Remo

...the Q2 growth forecast

Robust Q2 economic growth seen

The country’s economic growth will sustain its momentum and will be robust in the second quarter of the year, according to the National Statistical Coordination Board (NSCB).

NSCB said the leading economic indicator (LEI) continued its increase in the second quarter, posting 0.125 from a revised 0.064 in the first quarter. 

“After a decline in the third quarter of 2011, the LEI has accelerated three quarters in a row, strongly indicating a continuation of the positive outlook for the country’s economy,” NSCB added in a report released on Thursday.

Of the 11 indicators that make up the composite LEI, seven contributed positively—visitor arrivals, number of new businesses, stock-price index, money supply, wholesale price index, hotel occupancy rate and terms of trade index.

Combined share of positive contributors for the second quarter, however, decreased to 78.9 percent from 82.1 percent in the first quarter.

“The negative contributors were consumer-price index, foreign-exchange rate, total merchandise imports and electric-energy consumption. The negative contributors accounted for 21.1 percent of total contribution,” NSCB said.

Economic growth in the first quarter of 2012 reached 6.4 percent on the back of a regime of benign inflation and good performance of the services and manufacturing sectors. 

The second-quarter National Income Accounts (NIA), which will reveal the country’s gross domestic product (GDP) growth for April to June, will be released on August 30.

The Leading Economic Indicator System (LEIS) was developed jointly by NSCB and the National Economic and Development Authority to serve as a basis for the short-term forecasting of the macroeconomic activity in the country. NSCB has since been compiling data for the 11 identified leading economic indicators and generating the Composite Leading Economic Indicator on a quarterly basis.

The LEIS involves the study of the behavior of indicators that consistently move upward or downward before the actual expansion or contraction of overall economic activity.

The system is based on an empirical observation that the cycles of many economic data series are related to the cycles of total business activity, i.e., they expand in general when business is growing and contract when business is shrinking. The LEIS was institutionalized to provide advance information on the direction of the country’s economic activity/performance in the short run.

...the Fil-Ams

Fil-Ams are 2nd largest Asian group in US


Philippine Daily Inquirer
 
Filipino-Americans, numbering more than three million, are now the second largest Asian group in the United States next to Chinese Americans, a report by the Pew Research Center released Wednesday showed.

Filipinos comprise 19.7 percent  (3,416,840) of Asians living in the United States while the Chinese  accounted for 23.3 percent (4,010,114), according to the report.

The other large Asian groups, each estimated at more than a million, included Indians (18.4 percent), Vietnamese (10.0%), Koreans (9.9 percent) and Japanese (7.5 percent).

Pew used the 2010 American Community Survey (ACS) of the US Census Bureau which estimated that 2.3 million adult Filipino-Americans lived in the US during that year.

Based on the 2010 ACS, the median age of an adult Filipino American  is 43. Their individual median annual earnings working full-time and year-round is $43,000;  while among Filipino American households the median annual income is $75,000.

The 2010 ACS also found that among adult Filipino-Americans, 69 percent are foreign born; 77 percent are US citizens; 62 percent own a home; 66 percent live in the West and six percent live in poverty; 56 percent of the adult Filipino Americans are married; 78 percent speak English proficiently and 47 percent of Filipinos ages 25 and older have obtained at least a bachelor’s degree.

The Pew study said Filipino immigration to the US began after the Philippines became a colony of America in 1898.

The research agency, citing 2008 data, said that a large number of Filipinos went to Hawaii to work on sugar plantations there before coming to the US mainland.

“Filipinos were the only Asians who lived on American territory and were therefore exempted from the 1917 and 1924 laws that prohibited Asian immigration to the country,” Pew said.

However, severe limits were enforced on Filipino immigration in 1934 when the country was established as a commonwealth of the US, resulting in a decline of the Filipino population in the US in the following decade from 108,000 to 98,000, the report said.

After the passage of the Immigration and Nationality Act of 1965, many Filipinos came to the US again. Some came to escape the dictatorial regime of  Ferdinand Marcos and seek more opportunities for employment, Pew added.

The Pew report combined a detailed analysis of economic and demographic data from the US Census Bureau and other official sources and findings of a telephone survey of 3,511 Asian Americans last January 3 to March 27.

Results of the 2012 survey found that 61 percent of Filipino Americans still have close-knit families—which include spouse, parents, siblings or children—living  in their country of origin. About 67 percent said they had sent money to relatives in the Philippines in the past 12 months.

The poll also showed that most Filipino Americans  (64 percent) perceive that the strength of  family ties is better in the Philippines compared to the 11 percent who said that the strength of family ties is better in the US.

In terms of economic opportunities, majority of Filipino Americans (78 percent) said that the US offered better prospects than the Philippines.

When asked whether the US or China will be the world’s “leading economic power” 10 years from now, more Filipino American’s favored China (41 percent) while those who chose the US accounted for 32 percent.

On social attitudes, Pew said Filipino-Americans stand out for their low levels of social trust with 73 percent saying “you can’t be too careful in dealing with people” and only 23 percent saying “most people can be trusted.” Ana Roa, Inquirer Research

...the ad winner

Philippines wins silver, bronze medals in Cannes Lions 2012

By Angel Guerrero
Philippine Daily Inquirer
LITER BE LIGHT’ A housewife in a poor neighborhood in Metro Manila reacts with delight over the daylight illumination provided by a plastic bottle placed on her roof. The Liter of Light’s “Bottle Light” ad campaign won silver and bronze medals for Pepsi in Cannes Lions 2012. CONTRIBUTED PHOTO


CANNES—A Philippine advertising agency has won two awards during the first three days of competitions in the 59th Cannes Lions International Festival of Creativity here, raising recognition of Filipino creativity to the global level.

BBDO Guerrero|Proximity Philippines’ “Bottle Light” campaign for Pepsi won the bronze  medal in the promo and activation and media categories, and the silver medal in the direct category.

The Philippines is competing against 86 other countries in Cannes Lions 2012, to which the world’s leading advertising agencies have submitted 34,000 entries in 15 categories.

This year’s Lions have drawn 10,000 delegates from all over the world.

BBDO Guerrero|Proximity Philippines created the Bottle Light campaign for Pepsico Philippines and MyShelter Foundation.

The agency and Pepsico Philippines celebrated the honors. “On behalf of MyShelter’s Liter of Light and Pepsi, we are very proud to see Filipino ingenuity recognized at the highest level,” said David Guerrero, BBDO Guerrero|Proximity Philippines’ chief creative officer.

“We will continue to support the Liter of Light program as part of our aim to deliver performance with purpose,” said Steve Romasanta, Pepsico marketing director. “We are honored that our efforts in partnership with BBDO Guerrero to support MyShelter Foundation has been recognized on such a global level.”

“Most of the juries love it,” said DDB Group Singapore’s executive creative director Thomas Yang, a juror in the direct category. “It changed the behavior of the society, especially the whole country. This is the simplest implementation. Pepsi being commercialized in the whole campaign to publicize the innovation, I think that’s fantastic.”

Short-listed entries

The Philippines has 11 short-listed entries across press, media, outdoor, and radio categories from Ace Saatchi & Saatchi, BBDO Guerrero, DM9 JaymeSyfu, Lowe Philippines, and Ogilvy & Mather Philippines.

Out of 281 entries, Ace Saatchi & Saatchi’s “Tiger Energy Playground” and BBDO Guerrero’s “Bottle Lights” received short-list status in the media category.

The same entries are also competing in the outdoor category, where the shortlist includes DM9 JaymeSyfu’s “Volcano” for the Department of Tourism and Smart Communications.

Ogilvy & Mather Philippines’ entries titled “Dave,” “Marc,” and “Joseph” for Vaseline Men took three short-listed spots for the Philippines in the Press Lions category while DM9 JaymeSyfu took two spots for its entries “Mouse Deer” and “Dugong,” both for Bantay Kalikasan (ABS-CBN Foundation).

The press category has a total of 501 shortlisted entries.

Lowe Philippines’ “Lorem Ipsum” is the sole Philippine entry in the Radio category, where there are 185 entries.

The Philippines failed to gather short-list spots in the PR, creative effectiveness, mobile, cyber, and design categories.

The competitions run until Saturday. Results have yet to be announced in the film, titanium and integrated, film craft, branded content and entertainment, and grand prix for good categories.

Philippine delegation

The Philippines submitted  315 entries, an increase of 50 percent from last year’s 210.

Twenty-seven delegates are representing the Philippines, and they come from the advertising, marketing, academic, telecommunications and manufacturing industries.

DM9 JaymeSyfu’s chair and chief creative officer Merlee Jayme is representing the Philippines on the outdoor jury. She chaired the Asia-Pacific Advertising Festival (AdFest) outdoor jury in March.

Training course

This year, the Philippines has a delegate to the high-profile advertising, marketing, and communications training ground Roger Hatchuel Academy.

University of Asia and the Pacific’s Jolo Valdez, a 5th year student doing masteral studies in integrated marketing communications, is the Philippines’ representative in the weeklong course, which has lectures and workshops conducted by global leaders in the industry.

The country also has three teams for the Cannes Young Lions competition: DDB Philippines’ Donna Dimayuga and Mark Ngo represent the Philippines in the film category; TBWA’s Abi  Capa and Nolan Fabular, in  design category; and Johnson & Johnson’s Justine Gaurino and Rodrigo Sotto, in young marketers category.

Seminars, workshops

During the festival week, delegates can view more than 34,000 pieces of work, attend an extensive and unique program of 53 topical seminars, 17 workshops and, new to 2012, 30 forums delivered by the most innovative thinkers in the global communications industry, honor the winning work at four awards ceremonies as well as network, celebrate and enjoy two beach galas.

Among the speakers are former US President Bill Clinton, Microsoft chief marketing officer Chris Capossela, PHD Worldwide CEO Mike Cooper, Twitter CEO Dick Costolo, Starcom MediaVest Group Global CEO Laura Desmond, MTV president Stephen Friedman, MPG Global CEO Maria Luisa Francoli Plaza and Y&R Global chief creative officer Tony Granger.

...the losser won

WBO says Pacquiao won over Bradley–report

By Mark Giongco
INQUIRER.net
 
Manny Pacquiao lands a punch against Timothy Bradley in the second round of their WBO world welterweight title fight Saturday, June 9, 2012, in Las Vegas. AP/Julie Jacobson


MANILA, Philippines — World boxing icon Manny Pacquiao won over Timothy Bradley in their fight for the World Boxing Organization welterweight crown, said a five-man panel of the WBO.

Upon its review, the WBO panel re-scored the controversial Timothy Bradley split-decision win over Pacquiao and had it 118-110, 117-111, 117-111, 116-112, 115-113 for the Filipino ring icon.
The fight’s official result, however, still stands, according to WBO president Francisco Valcarcel.

“We can’t change the result but we did this review for two reasons,” Valcarcel told ESPN.com.

“If they want to make a rematch, we will approve the rematch and if they don’t we will order one. Also, we wanted to show (the Nevada State Athletic Commission) that they could bring in other officials from outside of Nevada who can also do a fine job judging fights. It’s good to have different officials.”

Both fighters are said to be scheduled for a do over on November 10.

CJ Roth and Duane Ford, two of the three judges during the June 9 (June 10 in Manila) fight at the MGM Grand in Las Vegas, scored it 115-113 for Bradley while Jerry Roth saw Pacquiao as the victor, 115-113.

Pacquiao had his 15 fight winning streak snapped. The loss was his first since Mexican legend Erik Morales beat him via unanimous decision back in 2005.

...the richest Filipinos

Henry Sy is PH's richest man--Forbes

06/21/2012
 
 

Henry Sy

MANILA, Philippines – Henry Sy is still the Philippines’ richest person, according to Forbes Asia, while Enrique Razon Jr. saw the biggest gain in wealth in the past year.

Sy, who owns SM Prime, one of the country’s largest mall developers, remains on top of the list of 40 richest people in the Philippines with a net worth of $9.1 billion. His net worth is up $1.9 billion from last year.

Second on the list is the Philippine Airlines’ Lucio Tan, with a net worth of $4.5 billion, up $1.7 billion from last year. Tan also has interests in beer production, tobacco and real estate.

At third place is Razon, whose net worth surged by $2 billion to $3.6 billion. He heads the International Container Terminal Services (ICTS), one of the largest port operators in Asia. He has expanded from shipping to gambling and resorts, holding a stake in Bloomberry Resorts, which had a public offering in May.

Former Trade Minister Roberto Ongpin ranked 9th with $1.5 billion. He has investments in property, gaming, mining and telecommunications. Last year, Ongpin was involved in a Senate inquiry over an allegedly behest loan given by the Development Bank of the Philippines.

Newcomers to the list include Puregold Price Club owners Lucio and Susan Co, who are number 13 on the list with a net worth of $1.2 billion; and Megawide Construction’s Michael Cosiquien, whose net worth of $150 million put him at the 39th spot.

Also in the list is real estate developer Senator Manuel Villar with a $720 million net worth. He is 18th on the list.

Media patriarchs Oscar Lopez, Gilberto Duavit, Menardo Jimenez and Felipe Gozon are also on the list.
Lopez, 31st on the list with a net worth of $245 million, is chairman emeritus of Lopez Holdings, which controls ABS-CBN.

Duavit (26, $270 million), Jimenez (27, $265 million) and Gozon (32, $240 million) meanwhile, hold shares in GMA Network.

There are now 15 billionaires in the Philippines, Forbes said, who benefited from an ongoing consumer boom, a surge in tourism and outsourcing, a stock market which gained 17% in the past year and economic growth of 6.4% in the last quarter.

Forbes’ list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Net worths are based on stock prices, and exchange rates as of the close of markets on June 8. Private companies were valued based on similar companies that are publicly traded.

The top 10 richest in the Philippines are:
1) Henry Sy; US$9.1 billion
2) Lucio Tan; $4.5 billion
3) Enrique Razon Jr.; $3.6 billion
4) John Gokongwei Jr.; $3.2 billion
5) David Consunji; $2.7 billion
6) Andrew Tan; $2.3 billion
7) Jaime Zobel de Ayala; $2.2 billion
8) George Ty; $1.7 billion
9) Roberto Ongpin; $1.5 billion
10) Eduardo Cojuangco Jr.; $1.4 billion
See the full list

Wednesday, June 20, 2012

...the peace effort

World Lauds Aquino Peace Efforts

 
By FRANCIS T. WAKEFIELD
June 20, 2012
Manila Bulletin
 
 
 The Aquino administration’s efforts on peace and security are already being felt and recognized not just by the Filipino people, but also by the international community, Presidential Adviser on the Peace Process Secretary Teresita Quintos Deles said yesterday.

Deles made the remark after recent studies conducted by the Institute for Economics and Peace and Pulse Asia’s Ulat ng Bayan revealed that peace efforts by the government are gaining headway.

The 2012 Global Peace Index by the Institute for Economics and Peace, it was recalled, ranked the Philippines among the top five nations that registered "improvements in peacefulness."
 
Meanwhile, the Pulse Asia's Ulat ng Bayan survey results showed high approval ratings on the Aquino administration's efforts in "increasing peace in the country."

"Similar to other governance reforms being implemented under this administration, President Aquino's continuing efforts on peace and security are already being felt and recognized not just by our people, but also by the international community,” Deles said.

"These will further raise the public’s hopes for a just and lasting peace," she added.

The 2012 Global Peace Index report stated that the Philippines’ high score was a result of improvements in the indicators, which are homicide rate, number of deaths from internal conflict, likelihood of violent demonstrations, and incidence of terrorist acts.

Moreover, it said the country previously rated at moderate or high levels in the four indicators. Among the incidents that affected the ratings in the past years included the conflict between the national government and the Moro Islamic Liberation Front (MILF) in mid-2007, the Maguindanao massacre in 2008, and violence perpetrated by the Abu Sayyaf in Sulu in 2011.

The other countries in the Top Five ranking are Sri Lanka, Zimbabwe, Bhutan and Guyana.

On the other hand, Pulse Asia’s Ulat ng Bayan National Survey conducted on May 20 to 26, 2012 pointed out that 50 percent of respondents approve of the P-Noy administration’s efforts on “increasing peace in the country.”

...the property boom

Global Filipinos And Property Boom


Creba Speaks
By CHARLIE A.V, GORAYEB
June 20, 2012

MANILA, Philippines --- The property sector is enjoying its most prolific cycle in recent history.
 
The cityscape is enjoying a major facelift. Old districts are transforming into new buildings featuring state-of-the-art construction and even green designs. Vertical villages have emerged as the practical and value-for-money address for urban dwellers. Building means growth; investments convey progress; good business leads to an upsurge in economic activity; and domestic growth always spells good news for the country.


Fort Bonifacio Global City, Taguig

The Philippines’ diaspora of Global Filipinos continues to fuel a boom in the real estate market back home. Estimated at close to 12 million or a tenth of the total Philippine population, the magnitude of their contributions have long been a major force in the national economy in terms of remittances, property acquisition and creating businesses. It is estimated that Pinoy expatriate worker send back home about US$ 20.116 billion, as of 2011 in foreign remittances which is continuously growing every year. Reports from the banking sector even states that this figure is an understatement since an average of 30 percent is sent to their local beneficiaries through other means outside the banking system. The global community is likewise appreciating more the best in Filipinos on all fronts: From entertainment, business and architecture, to tourism and BPO.

Since five years ago, US$5 billion of OFW funds were spent in real estate, and this is expected to increase some more as remittances grow. It is also observed that their wants have changed too from low-cost housing units to mid-range homes, houseand- lot packages, townhouses, or condominium units with cost ranging from Php 3 to R7 million.

The Pinoy expatriates are now aware of the benefits these properties could give them, its higher resale or lease value − not to mention the location, which is almost always on prime sites.

More property developers are now enjoying a “booming market.” Most are claiming that more than 60 percent of their sales went to OFWs, and are opening more new projects eyeing OFW clienteles. The unprecedented growth has even sent big property developers abroad for sales stints targeting the Pinoy overseas worker.

With the revenue in the real estate industry growing by almost 50 percent annually since the last five years, there is no doubt that the property sector shall have the crown of having the fastest growth rate among various industries in the country.

With the increasing spending power of the middle-class, a strong and conservative banking sector, a stable homebuyers market that is free from speculators, plus billions in remittances from abroad, we see no end in sight for the industry’s flourishing growth.

This is the centerpiece of the upcoming 21st Annual National Convention of the Chamber of Real Estate & Builders’ Associations, Inc. or CREBA – the largest Philippine umbrella organization of the real estate and housing industry composed of property developers, builders, contractors, suppliers and manufacturers of construction materials, real estate service practitioners and other professionals and entities engaged in 68 allied fields.
 
The convention will be held from Oct. 18-20 at the Legend Hotel, Puerto Princesa City, Palawan with the theme “Global Filipino: Key to Conserving Growth Through Sustainable and Strategic Real Estate Development and Practices.”

The 21st Annual CREBA National Convention hopes to unlock and link together sustainable and strategic approaches to keep the impressive growth path, and in the process, reinforce the commitment of industry stakeholders to advance land and housing as a primary catalyst for economic and social progress.

Set on a tropical paradise such as Puerto Princesa, the “City in a Forest” that is home to the world wonder Subterranean River, the convention shall provide the needed perspectives on global concepts and tap into the unlimited opportunities on emerging and fast-expanding markets.

...the social media in sports


Phl ranks 3rd in NBA tweets

By AP
The Philippine Star


MANILA, Philippines - The NBA announced Monday that other than the United States and China, it’s the Philippines topping the list of countries following the league on Facebook and Twitter.

No surprise there, of course – Heat coach Erik Spoelstra is proud of his Filipino heritage.

The NBA said it has 278 million fans following through social media worldwide.

For Facebook, the Philippines is followed by Turkey, Indonesia, Mexico and France, while on Twitter the countries checking in second through fifth are Indonesia, Brazil, the United Kingdom and India.

Spoelstra smiled Monday when told of the numbers in his mother’s homeland.

“They root for us,” Spoelstra said. “When we’re over there during the summer, they are. It’s great to see. I had my family over here last night from the Philippines. The one thing about the Philippines is they are rabid basketball fanatics, and it’s been that way for a while. They’ve been following us now for the last couple years, as well.”

...the cover designer

Pinoy finds 'Purpose' by designing cover of best-selling US book

 
June 19, 2012
 
 
 
A 25-year-old Filipino graphic designer in Davao City — Brian Montes — bagged the top prize of a design contest for the cover of the re-issued best-selling book "The Purpose Driven Life" by Christian pastor Rick Warren.

The contest, conducted by talent outsourcing site 99designs, aimed to give the best seller a well-deserved revamp.

Montes received the $3500 (PHP 148,160) cash award for his design, which will be used as the cover of Warren's book.

In an email to GMA News Online, Garrett Sussman, marketing coordinator of  99designs based in San Francisco in the United States, said: “'The Purpose Driven Life' has sold more than 32 million copies around the world."

The book was named as part of the top 100 Christian books that changed the 20th century. 

"...For its 10th anniversary in the fall, Warren decided to hold a cover redesign contest on 99designs," he explained.

One of the leading sites of its kind, 99designs is an online marketplace for graphic design work and currently has around 160,000 members.
 
Montes joined 99designs under the screen name ianskey  in 2010 where he focuses in book cover, magazine cover and logo design work with the aim of honing his designing skills.
 
In an email correspondence with 99designs, Montes shared his reason for joining the contest.
 
“The prize amount, of course, got my attention! But I also felt a special connection to the contest. I’m a Christian, and my church held a series of “40 days of purpose” sermons using 'The Purpose Driven Life' as a guide,” he said.
 
“The book inspired me to strengthen my principles in life, so designing a cover for the new edition was personally a very meaningful opportunity for me,” he added.
 
He also humbly admitted that this was his largest earnings so far.
 
“It’s the most I’ve ever received for a project, and I plan to use it to help start my own design business and help my church,” he said.
 
“It’s exciting to think my cover design may be seen in bookstores worldwide and could help Rick Warren’s messages touch more lives. And, of course, I hope it indeed proves eye-catching to a new generation of readers!” he said.
 
The book cover of Rick Warren's "Purpose Driven Life" was designed by Filipino graphic designer Brian Montes. Garrett Sussman

Not just a new cover

The release date of its updated edition “What on Earth Am I Here For? The Purpose Driven Life” is yet to be announced but is expected this year.
 
It will include four additional chapters written by Warren.
 
Aside from a new cover, the bestseller also had its title rearranged to “What on Earth Am I Here For? The Purpose Driven Life” to attract new readers, Zondervan Publishing said.

In an article on the news site Christian Post, Zondervan marketing executive Rich Tatum said, "Some of the titles that appealed to us most were the ones where the title and the subtitle seemed to kind of be a dialogue, a question and answer."
 
The Christian Post said Montes’ success wasn’t just due to his talent, citing that two of the final five entries were submitted by the Filipino designer.

Tatum described Montes as amazing for "his persistence in coming up with different concepts."
 
Tatum also noted how Montes "felt that God had given him the inspiration for the final cover that was picked."

Montes' design features a tree with 40 leaves.
 
Tatum found the 40 leaves a "nice touch" because the book had exactly 40 chapters.
 
However, Montes said he was not even aware that the leaves he drew came up to exactly 40. - VVP, GMA News

Tuesday, June 19, 2012

...the PH e-vehicles

By Monico D. Mekaniko
Yahoo! Loqal
18 June 2012



Electric vehicles are expected to become widely used as public utility vehicles in the coming years as the government works with private manufacturers, assemblers and developers to ensure widespread adaption and sustainability.




As a result of recent developments in electric vehicle usage for public transport, companies involved in assembly and distribution of such vehicles have recently formed an organization called the Electric Vehicle Association of the Philippines (EVAP). Its members include vehicle enthusiasts, electric vehicle assemblers and energy consultants.

Part of the group’s activities this year is holding the 2nd Electric Vehicle Summit at the Meralco Compound in Pasig City. It will be attended by e-vehicle experts from Taiwan, Korea and Japan. Car manufacturers such as Toyota and Mitsubishi, both of which have already introduced commercial e-vehicles, are also expected to be present.

According to EVAP President Rommel Juan, the event is the culmination of several years of work from different companies and government agencies that have been working to bring the e-vehicle to the Philippines.

He said that e-vehicles would thrive well in the Philippines especially for public transport as the riding public would find riding in these vehicles more comfortable as these do not emit smoke.

In addition, the cost of running an e-vehicle, especially the e-jeepney model, is getting cheaper with parts and service support becoming more available. So far, all of the cities that have launched e-vehicles, including e-jeeps and e-trikes, have so far reported success.

Among the cities that have launched e-vehicles for public transport are Makati, Taguig, Pasig, Mandaluyong, Quezon City, Los Banos in Laguna, Cebu City, Iloilo, Cagayan de Oro, Batangas, Palawan, Boracay and Ilocos.

There are an estimated 400 e-vehicles now in the Philippines, most of which are for public transport.

Citing reports from other members of EVAP, Juan also noted that private institutions have also adapted e-vehicles. For instance, Victory Liner brought the country’s first electricity-powered bus, with plans to invest around P250 million for a production plant to make more buses.

In addition, the Manila Electric Company (Meralco) is looking at the possibility of using a four-wheeled version of electric motorcycles (called quadricycles) to shuttle people to and from their Pasig City headquarters.

Juan noted that the success of e-vehicle adoption in the Philippines is pegged on the strong support of both the private sector and the government. In particular, the government must also mandate the establishment of an infrastructure network to ensure that e-vehicle usage would thrive.

Imagine that, e-vehicles instead of noisy, pollution-making jeepneys on the road!

Till next time, this is Monico D. Mekaniko, Va-va-vroom!

...the Southeast Asia's fastest growth

'Investment-grade rating for PH only matter of time'

06/19/2012
 
 
MANILA, Philippines - Philippine economic officials are confident that an investment-grade rating for the Philippines was "only a matter of time," as they concluded a non-deal road show in the United States last week.
 
Finance Secretary Cesar Purisima and Trade Secretary Gregory Domingo visited New York, Boston, San Francisco and Los Angeles from June 11 to 15 to meet with banks, investors, bondholders and credit rating agencies.

During their meetings, the economic team emphasized the Philippine economy's first quarter performance of 6.4%, which was the fastest in Southeast Asia.

"The Philippine growth story stands out in contrast to the more challenging global macro-economic backdrop.

Resilient and stable economic growth supported by strong fundamentals and a reform-minded administration provide a compelling investment thesis that was evident by the positive feedback during the republic's visit to the US last week," said William H. Strong, Co-CEO of Asia Pacific at Morgan Stanley, which helped the road show.

Philippine officials made another pitch for the much-coveted credit rating upgrade. The Philippines' sovereign ratings were a major part of their meetings with key investors and fund managers in the U.S.

Purisima and Domingo said an investment-grade rating for the Philippines was "only a matter of time." They cited that the cost of protecting Philippine bonds against default for five years is lower than some investment-grade countries such as Russia.

On the implied ratings, the Philippines is between three to four notches underrated, they said.

Purisima said the government is working hard to bring the Philippines to investment grade.

"This is very important in attracting investors who do not know the Philippines. We believe that getting better ratings will make it easier for the Philippines to attract more investors into the country. We need more investments to push the growth of the Philippines to a higher level and bring it nearer to a virtuous cycle of more jobs, more opportunities and a better life for more Filipinos," Purisima said.

Amid jitters over the euro zone debt crisis and slowdown in China and U.S., the officials emphasized they have put in place a plan to mitigate risks. They added that the potential impact from the euro crisis will be modest, while remittances are expected to remain resilient.

"Europe is a very large economy. The region may have issues at this time but there are still a lot of opportunities for the Philippines to expand trade and, bring more investments to the country from that region," the Finance Secretary said.

Other members of the Philippine delegation included National Treasurer Roberto Tan, Bangko Sentral ng Pilipinas Assistant Governor Cyd TuaƱo-Amador and BSP Investor Relations Office executive director Claro Fernandez.

...the growth forecast (FMIC and UA&P)

PHL economy to expand 7% in 2012 –FMIC and UA&P 

 
June 19, 2012
 
 
A wave of economic data in the last five months showed that Philippine output as measured by gross domestic product would likely grow 6 percent to 7 percent, First Metro Investment Corp. (FMIC) and the University of Asia & the Pacific (UA&P) reported Tuesday.
 
UA&P decided to upgrade its Philippine GDP forecast from 5 percent to 6 percent “due to strong infrastructure and consumer spending," economist Victor Abola told reporters in a press briefing.
 
"Government expenditure is expected to further escalate and solid consumer spending to persist," FMIC and UA&P said in the briefing.
 
In their Market Call report released Tuesday, FMIC and UA&P said the peso may "mildly depreciate in the succeeding months to around P42.70 to P43.70 per dollar" because of the euro zone debt crisis.
 
With this depreciation "expect higher value of remittances in peso terms," according to the report, noting that dollar inflows "tend to increase in the months of May and June" as overseas Filipinos send their dependent cash to pay for tuition fees and other school opening expenses.
 
The foreign exchange rate going against the peso–coupled with low inflation–"would provide more purchasing power to consumers," according to the FMIC and UA&P analysts.
 
The Filipino consumer’s purchasing power would draw strength from low inflation–helped by crude oil prices stabilizing at or below $100 per barrel in the world market, they noted.
 
Abola said the average inflation for the year would settle at 3.3 percent or within the 3.2 percent to 3.4 percent range, while the peso-dollar rate will move within the P42 to P44 band.
 
Consumer spending this year will be "unyielding" because of sustained strong performance of tourism-related businesses, the industry base and the services sector, they added.
 
Tourist arrivals in the first four months of the year grew by 14.6 percent to nearly 1.5 million visitors.
 
The Industry sector will likely expand by 6 percent to 7 percent, and the services sector even better at 7 percent to 8 percent. —VS, GMA News

...the largest LED factories

Laguna LED factory to be one of the world's biggest 



June 19, 2012
GMA News

The Japan Environment Technology Development Co., Ltd., or JENTED, is eyeing to build a $200 million light-emitting diode light factory in Laguna by the end of the year. When built, it will be one of the world’s largest LED factories in the world, with an annual production capacity of around one million LED lights.

Furthermore, JENTED and its Philippine partner, Tagaytay Mountain Peak Corporation, said that the factory will put the Philippines in the map of high technology in the lighting industry.

JENTED Executive Director Yoshiyuki Ikeda said that they are bullish on the prospects of the LED lighting business not only in the Philippines but also in the US, Europe and Asia where they plan to export their products.

They said the timeline for plant construction is in December this year as soon as they have finalized site arrangements.

According to JENTED Country Representative Rod Cabrera said, “Our lighting system is much lighter than other brands, has longer lifespan that than the average LED lighting system in the market and is user-friendly, meaning it doesn’t require an electrician for its installation.” — DVM, GMA News

...the stable economy

Fitch affirms PH credit rating; outlook stable

06/19/2012
 
 
MANILA, Philippines - Fitch Ratings on Tuesday affirmed the Philippines' credit rating, citing strong external finances, favorable economic prospects and a track record of macroeconomic stability.
 
Fitch maintained Manila's long-term foreign currency rating at 'BB+', while local currency rating at  'BBB-'. The outlook for both ratings is stable.

"The ratings and outlook are supported by strong external finances, a track record of macroeconomic stability, favourable economic prospects, and falling public debt ratios," said Philip McNicholas, Director in Fitch's Asia-Pacific Sovereign Ratings group.

"However, structural weaknesses including low average income, a weak business environment and a low fiscal revenue take weigh on the credit profile," he added.

Fitch said the prospects for the Philippine economy are generally favorable in the near term. Fitch expects Philippine GDP growth to rise 5.5% in 2012, from 3.9% in 2011.

"Lower inflation and a moderate fiscal deficit (2.6% of GDP expected for 2012) suggest scope for policy flexibility to respond to adverse economic shocks, should they materialise. However, the country has some way to go to narrow the gap in credit and structural fundamentals with peers. Average incomes are low ($2,400 against a 'BB' range median of $4,200) and the level of human development is poor. However, the recent pick-up in investment to 21.7% of GDP, bringing it in line with the 'BB' range peer median, is encouraging and could support stronger growth if sustained," the report said.

Credit growth in the Philippines remains strong, but Fitch said if this is sustained, it could eventually pose risks to financial and economic stability. However, it pointed out that the healthy capital adequacy ratios and relatively small banking system could mitigate risks.

While the Aquino government has began implementing reforms to address issues of governance and poverty, Fitch said it "will likely take time to feed through to the sovereign credit profile."

"Reforms aimed at broadening the revenue base to create fiscal space for greater public investment could also prove favourable to longer-term growth prospects. However, those benefits are also expected to take time to emerge," it said.

Fitch estimated the general government dropped to 42% of GDP at the end of 2011, in line with 'BB' range peers, and expects it to continue its downward trajectory.

"However, a low fiscal revenue base is a drag on the credit profile - the sovereign raised just 14% of GDP in revenue in 2011," it said.

The Philippines' debt-to-revenue ratio of 300% continues to be above the 'BB' range median of 163%. There has been administrative improvements that helped revenue growth to exceed nominal GDP growth, but Fitch said this should be sustained if the government wants to achieve its objective of a revenue/GDP ratio of 15.9% by 2016.

"Strengthening the fiscal revenue base, and generating the resources to meet the administration's public investment and social spending plans, would be positive for the ratings. Likewise, a longer track record of improvements in governance and the business environment leading to stronger investment and firmer medium-term growth prospects would put upward pressure on the ratings, if sustained over time. Conversely, fiscal slippage would be negative for the credit profile, as would a reversal of recent progress on governance or the emergence of risks to basic political stability," Fitch said.

Fitch had raised the Philippines' credit rating to 'BB+', within one notch of investment grade in June 2011.
Philippine economic officials have continued to make a pitch for the country's rating to be upgraded to investment grade.

The Philippines is one of Asia's most prolific offshore bond issuers. An investment-grade rating would lower its cost of borrowing and widen its base of potential investors, as some funds have restrictions on holding sub-investment grade debt.

...the top Athletes

Mayweather, Pacquiao top athlete income list

Agence France-Presse


NEW YORK – Floyd Mayweather and Manny Pacquiao, the boxers that fight fans worldwide want to see in the ring together, topped the list of the 100 highest-paid athletes released by Forbes magazine on Monday.



Floyd Mayweather Jr. and Manny Pacquiao. AP/INQUIRER FILE PHOTOS


Mayweather, who ranked No. 1 for making $85 million off two fights last year, is serving a three-month jail sentence for domestic battery in Las Vegas, having failed in a bid to serve the remainder of his time under house arrest.

While his doctors and co-manager warned that staying behind bars might cause irreparable damage to his fitness and risk his boxing career, the undefeated US fighter is expected to climb back into the ring, likely later this year.

But Mayweather will not be fighting Filipino icon Pacquiao in the mega-bout that boxing fans have sought for years.

Pacquiao, second on the list at $62 million from earnings and endorsements, lost to unbeaten US fighter Tim Bradley on July 9 and they are set to fight a rematch in November.




Tiger Woods, who had topped the Forbes list since 2001, fell to third this time with $59.4 million, his earnings off $16 million from the previous year and by half since his peak in 2009, mostly due to lost endorsement deals.

It was in 2009 that Woods, a 14-time major champion chasing the 18 major titles won by Jack Nicklaus, saw a sex scandal erupt that caused him to start his 2010 season late and 2011 saw Woods nagged by injuries.

Woods went on a 17-month win drought until he won last March at Bay Hill in the Arnold Palmer Invitational. He followed up with a victory earlier this month at the Jack Nicklaus-hosted Memorial but has not won a major since the 2008 US Open.


Miami Heat star LeBron James ranks fourth at $53 million, the highest of 13 basketball players and on the list. The Heat are playing the Oklahoma City Thunder in the NBA Finals as James seeks his first league crown.

While a lockout last year trimmed 20 percent off his salary, endorsement deals boosted his total and a marketing partnership made him a stakeholder in English Premier League football side Liverpool.




Swiss tennis star Roger Federer was fifth at $52.7 million followed by NBA star Kobe Bryant at $52.3 million, US golfer Phil Mickelson at $47.8 million, English football star David Beckham of the Los Angeles Galaxy at $46 million and Portuguese football star Cristiano Ronaldo at $42.5 million, with the top annual salary of any athlete in any league at $20 million.

American football boasts 30 players on the list, topped by No. 10 Peyton Manning, the former Indianapolis Colts star who was cut in March and signed with the Denver Broncos for $96 million over six years.
Manning’s $42.4 million ranks 10th overall and he continues to be the top endorsement pitchman among gridiron stars.

In total, the top 100 made $2.6 billion.

Only two women, both tennis players, cracked the list – Russian star Maria Sharapova, the newest career Grand Slam winner after her French Open final triumph earlier this month, and China’s Li Na, the 2011 French Open champion.

Sharapova was 26th at $27.9 million, thanks in great measure to huge global endorsement totals as well as $5.9 million in prize money over the past year.

Li was 81st overall at $18.4 million, with seven new endorsement deals after becoming the first Asian-born player to win a Grand Slam singles crown.

Cricket star Mahendra Singh Dhoni ranked No. 31 and India batsman Sachin Tendulkar was No. 78.

Jamaican sprinter Usain Bolt, the reigning 100- and 200-meter Olympic champion and world record-holder who figures to be a top attraction at the London Olympics, was 63rd with $20.3 million.

Monday, June 18, 2012

...the Sweet Spot

PH remains in 'sweet spot' of capital markets

06/18/2012
 
 
MANILA, Philippines - Amidst lingering overseas volatility, improving market liquidity, domestic investor participation and resilient local economic fundamentals, the Philippines remains to be in a so-called "sweet spot" of the capital markets.
 
“We should all look at today's scenario as very positive for the Philippines.The Philippines is back on the radar that wasn't the case a few years ago,” said Sanjiv Vohra, Citi Philippines chief executive officer.

Vohra, together with other financial market experts were resource persons at the Philippine Financial Market Forum organized by The Asset and the Financial Executives of the Philippines.

But while the Philippines is pretty much in a "sweet spot", Vohra however stressed investors were looking for companies that reflected the strong outlook on the Philippine economy.

Examples of these were the conglomerates, banks and to a certain extent, real estate firms that give exposure to the robust business process outsourcing (BPO) and retail businesses.

Vohra added the Philippines must address issues on foreign ownership restrictions as well as protection of minority rights.

Citi, which is commemorating its 200th year this month, is one of those firms bullish on the growth of the Philippine economy.

More than a century ago, when it was looking to expand in Asia, the Philippines was one of the first markets where it invested. It also made many firsts in banking in the country such as financing the Manila Electric Railroad and Light Company now known as MERALCO for the electric railway system and the first bank to reopen in Manila after World War II. It was also the first to set up a 24-hour phone banking and the first ever call center facility built in the Philippines.