...the "Duets" Idol

Fil-Am in Top 3 of US singing competition 'Duets'

ANDREI MEDINA

GMA News

July 14, 2012

Jason Farol, a Filipino-American singer, is in the Top 3 of the American reality singing contest “Duets” Season One where a winner will be crowned in the finale on July 19.

Farol was personally selected by “American Idol” season one winner Kelly Clarkson to join “Duets” as her protégé.

The show, handled by American Broadcasting Company, is a unique approach on American reality singing contests as the mentor-judges also take it to the stage with their protégés, the “Duets” website said.

The mentor-judges are superstars Kelly Clarkson, John Legend, Jennifer Nettles, and Robin Thicke.

They chose two young talents to be their protégés who perform with them each week in front of live audiences.

The three remaining protégés are Farol and mentor-judge Nettles’ J Rome and John Glosson.

Week 8 performances

For the performances on July 12, the contenders sang songs picked by their mentors following the theme of “Superstar’s Choice,” according to entertainment site Hollywood Invasian.

The night’s performances were divided into two where a duet and a solo song were performed by each contender.

For his duet song with Clarkson, Farol sang the classic “Me and Mrs. Jones” by Billy Paul which received mixed feedback from the mentor-judges.

Legend said Farol lacked confidence during the performance.

Nettles, on the other hand, loved Farol's performance but Thicke said he missed the “naughtiness” of the song.

Meanwhile, the J Rome-Nettles duet blew the crowd away with The Script’s “Breakeven,” which was given a standing ovation by all mentor-judges.

The Glosson-Nettles duet also got positive feedback from the mentor-judges with “The Prayer.”

For their solo performances, J Rome sang Stevie Wonder’s “Signed, Sealed, Delivered, I’m Yours.”

Glosson performed “Bless the Broken Road.”

Farol closed the night with his funky rendition of Bruno Mars’ “Runaway Baby.”

What the tweeps say

Meanwhile, Filipinos on Twitter expressed their support for Farol.

Josue M. Gube Jr.: “@JasonDuets Voting is closing. People of the Philippines vote Jason Farol & Kelly Clarkson.”

Rica Siason: “Jason Farol of Duets the Pinoy Pride!! Please vote for him! <33”

Arlene Quitevis: “Pasok sa finale si Jason Farol yayy.”

To support Farol, you may visit the official Facebook website of “Duets” where you can vote for him. - VVP, GMA News

...the Q2 growth

Stronger Second Quarter Growth Seen

By EDU H. LOPEZ

July 13, 2012

Manila Bulletin

MANILA, Philippines – Higher electricity sales growth, easing inflation rate, improving exports, better agricultural output and the creation of a million jobs are pointing towards an even faster output growth in the second quarter of 2012 from the 6.4% gross domestic product (GDP) growth posted in the first quarter.

The latest report of FMIC and UA&P capital market research predicts that with better agricultural harvests and more infrastructure spending, GDP growth in the second quarter to even exceed the 6.4% expansion recorded in the first quarter.

“The upgraded outlook for the second quarter GDP expansion is more remarkable given the slowdown of the US economy and China and the lingering banking and debt crisis in the Euro-zone.”

“The outcome was fairly positive with no Greece exit from the Euro-zone followed by some concessions by Germany in favor of growth for beleaguered Spain and Italy,” the report noted.

The report expects an even better GDP growth performance in the second quarter with Meralco electricity sales rising by 11.8% in May from 8.3% recorded in April.
 
With the economy’s strong rebound in the first quarter, labor employment also increased by  one million for the year ending April 2012.
 
“Despite an increase in the labor force participation rate to 64.7% from 64.2% a year ago, the labor force survey (LFS) of the National Statistics Office (NSO) showed a decline in the unemployment rate to 6.9% down from 7.2% in January 2012 and April 2011 even as total labor force expanded by 2.5% over the same period.”

Inflation would likely average 2.9% as compared to year-on-year growth as well as quarter-on-quarter mainly due to the unabated fall in oil price for the whole of June, the report said.

“Exports are likely to average a 5% growth in the second quarter with slightly better prospects in the second semester. The latter period will be characterized by domestic demand stimulus in China and election spending in the U.S.”

FMIC and UA&P forecasts that monetary policy to remain neutral for the rest of the year, even though the BSP has scope and need for further easing in order to narrow the differential between domestic and foreign interest rates.
 
With favorable conditions in the financial markets, and stable gains in remittances from overseas Filipino workers (OFWs), the peso-dollar rate will have an appreciation bias for most of the second semester, the report added.

...the PH dance crews

Nine dance crews from PHL to join 'Olympics' of hip-hop competitions in US

Peterson Gonzaga

July 13, 2012

GMA News

LOS ANGELES — Nine dance crews from the Philippines will be joining the so-called "Olympics of hip hop dance competitions" — the World Dance Championships of the Hip Hop International dance organization in Los Angeles from July 30 to August 5.

The competition will be held at the Red Rock Resort and Orleans Arena.

The nine dance crews from the Philippines include:

• Fresh Fusion,
• Legit Status,
• A-Team,
• The Crew,
• The Project,
• Philippine Allstars,
• UP Street Dance Club, and
• La Salle Dance Company.

The dance crews will be competing in the varsity, adult, and megacrew divisions.

The nine Philippine teams have passed the semi-final and final rounds of their divisions.

The most successful of all the teams so far is the Philippine Allstars, which has won gold medals in 2006 and 2008. They also brought home a bronze medal in 2007.

The Philippine Allstars winning performance in 2008 was widely praised by dance crews from France, Uruguay and South Africa.

Philippine Allstar

 

The other notable Filipino crews are Legit Status and Fresh Flow.

Legit Status

Fresh Flow

Legit Status has been competing at the Hip Hop International since 2009 in various divisions.

This year, Legit Status will compete in the varsity and megacrew divisions.

Although they haven't won a medal yet, Legit Status member Rammy Bitong said: "We're getting closer and closer to those medal positions. In, 2009 we were 7th place overall, 2012 6th place, and last year in 5th place."

Bitong also said: "It's important for Philippine crews to participate because we have so much to offer. There's dancing everywhere you go in the Philippines and it's a good way of representing our nation."

For more information and real time results during the competition visit hhi.pacificrimvideo.com or hiphopinternational.com. - VVP, GMA News

...the tourism target

PNoy: PHL likely to breach 4.6M tourist influx goal this year

 

July 13, 2012

GMA News

 

 

With 1.8 million foreign tourist arrivals already recorded since January, President Beningno Aquino III said he expects the second half of the year to see an even greater surge of visitors from the rest of the world.
 
"This number (1.8 million) is also 39.6 percent of the 4.6 million tourist arrivals we hope to get this year—and historically, we get even more visitors in the second half of the year. If all goes as planned, it seems that we will achieve, and maybe even breach this target," Aquino said.
 
The President gave these remarks in his address to delegates from the 7th North American Ambassadors, Consuls General and Tourism Directors Tour.
 
"Tourism is one of the sectors we are paying particular attention to, because it is one in which we can successfully pursue our agenda of inclusive growth, given the multiplier effect on jobs and the amount of money it brings into our country," Aquino said.
 
He claimed that the Pocket Open Skies Policy caused the number of incoming and outgoing flights to rise by 15 percent from January to June this year.
 
Aquino added that underway are investments in key infrastructure that would improve the mobility of tourists such as airports, seaports, and highways. — ELR, GMA News

...the ASEAN economies

Asean economies poised for growth despite global difficulties

By Wichit Chaitrong in Bangkok/The Nation

Asia News Network 

Fri, Jul 13, 2012

Bangkok (The Nation/ANN) - Despite the weaker external environment, growth in Southeast Asia is expected to remain robust, supported by strong domestic demand and reconstruction in flood-affected areas, the Asian Development Outlook Supplement released yesterday said.

"Growth in Thailand is expected to be 5.5 per cent or higher this year, accelerating from almost zero per cent growth last year as a result of last year's devastating floods," Haruhiko Kuroda, president of the Asian Development Bank (ADB), told a press conference on the sidelines of yesterday's Thailand-ADB-IMF conference.

Disruption of supply chains caused by last year's devastating floods has been overcome as mentioned by Finance Minister Kittiratt Na-Ranong, said Kuroda, referring to Kittiratt's comments on strong recovery in automobile production and expected quick recovery of the electronics sector.

Private consumption and investment is very strong in Thailand, said Kuroda.

Asked about the outlook for gross domestic product growth in Myanmar, Kuroda said the country had been isolated from the rest of the world for the past three decades.

"Now Myanmar has integrated much with Asean and the global economy, and we expect substantial growth over the coming years," he said.

Myanmar, however, has not made sufficient investments in infrastructure projects, education and healthcare. Investment in these areas are much needed now, he said. And the capacity of the Myanmar government must be enhanced, he suggested.

ADB and World Bank will provide technical assistance and policy advice to Myanmar but financial support must be provided only after the country clears debts owed to the two institutions, he said.

According to ADB's report, vibrant domestic demand and private investment appeared to drive Southeast Asian growth in the first half of this year. The region's economies expanded 4.3 per cent in the first quarter after a weak 2.9-per-cent growth in the last quarter of 2011. It was mainly due to the strong rebound in Thailand and the robust growth in the Philippines.

The open economies of Singapore and Malaysia, however, posted slower growth in the first quarter as a result of the weaker external demand. Vietnam's first quarter growth was also much lower than expected, pulled down by a contraction in construction and flat industrial production, said the report.

Meanwhile, Kuroda said that China's economy would report 8.2-per-cent growth, though slowing down from April's forecast of 8.5 per cent. Next year, China will grow 8.7 per cent. China is Thailand's largest export market.

He expected the Chinese government to launch fiscal stimulus following monetary policy easing lately. South Korea has already implemented public spending to boost growth, he said.

India's growth forecast has moderated as high inflation and trade deficit make it difficult to ease monetary policy to stimulate demand, according to the report.

Developing Asia as a whole will grow 6.6 per cent in 2012 and 7.1 per cent in 2013, lower than the 6.9 per cent and 7.3 per cent forecast in ADB's Asian Development Outlook published in April, said Kuroda.

Kuroda said that he agreed with the consensus view that the euro zone would show a slight minus growth this year and slight positive growth next year. Economic situations could change when ADB issues its updated economic forecast in September, he added.

...the marine conservation model

Tubbataha Reef hailed by experts as marine conservation model

YASMIN ARQUIZA

GMA News

July 12, 2012

CAIRNS, Australia – In what is regarded as the center of coral diversity in the world, the Tubbataha Reef in the Philippines is emerging as a model for conservation in the face of grave threats to the region’s coral reefs.

The Philippines is one of the six countries in a region dubbed the Coral Triangle, which contains nearly 30 percent of the world’s coral reefs and more than 3,000 species of fish — twice the number found anywhere else in the world.

^{Seabirds on the north islet of Tubbataha. Photo: Michael D. Marasigan}

A new report from the World Resources Institute released at a weeklong symposium here said more than 85 percent of reefs in the Coral Triangle —the global average is 60 percent— are directly threatened by human activities such as overfishing, pollution from watersheds, and coastal development.

“Across the Coral Triangle region, coastal communities depend on coral reefs for food, livelihoods, and protection from waves during storms, but the threats to reefs in this region are incredibly high,” said Lauretta Burke, senior associate at WRI and a lead author of the report.

More than 130 million people living in Indonesia, Malaysia, Papua New Guinea, the Philippines, Solomon Islands, and Timor-Leste depend on coral reefs for food, employment, and tourism revenues, the report said.

“Much of the threat is anthropogenic, which is something we have control of,” observed Alan White, senior scientist of The Nature Conservancy and one of the report’s contributing authors.

Protection measures are lacking, however, with only three per cent of coral reefs in the Philippines designated as no-take zones inside marine protected areas (MPA), he said. In comparison, 29 per cent of reefs in Indonesia and 11 per cent in Malaysia are inside MPAs.

Amid the gloomy statistics, the Tubbataha Reef is one of the “excellent sites” among the measly one per cent of MPAs in the Coral Triangle that are considered to be effectively managed, White said. The Solomon Islands also has some good sites, he added.

“The Tubbataha is really a success story,” said White, who has done long-term monitoring of the reef’s resources for two decades.

Shift in marine diversity

Located within the municipality of Cagayancillo in Palawan, the Tubbataha Reef was declared the Philippines’ first national marine park in 1988 by then-President Corazon Aquino and subsequently proclaimed a World Heritage Site five years later.

Since the mid-1990s, when then-President Fidel Ramos stationed Philippine Navy and Coast Guard in the uninhabited coral atolls, Tubbataha has benefited from continuous protection against poachers that brave the difficult crossing in the Sulu Sea to reach the reefs.

A park manager and civilian staff have augmented the armed personnel while a multi-sectoral board sets management policies in the park, which has been voted as one of the world’s ten best dive sites.

Theresa Mundita Lim, director of the Protected Areas and Wildlife Bureau (PAWB), said a study conducted in 2010 showed that the center of marine diversity in the Philippines had shifted to Tubbataha Reef instead of the central Philippine Sea, as an earlier study had indicated.

Fishing pressure in the Visayas due to increasing population and disturbance from tourism could be some of the possible reasons for the trend, she said.

Moreover, “we protected Tubbataha,” Lim told reporters on the sidelines of the symposium, which is held every four years to share new research results.

Secretary Ramon Paje of the Department of Environment and Natural Resources, which administers PAWB, has given instructions to her agency to come up with guidelines for scuba divers so that the country’s coral reefs can be protected from further degradation, Lim said.

Two-thirds of PHL reefs highly threatened

Overfishing and destructive practices such as blast or poison fishing are the greatest threats to the country’s reefs, affecting 98 percent or nearly the entire reef area, according to the WRI report.

The only exceptions are reefs in well-managed MPAs, the report added. These include the Tubbataha Reefs, along with Apo Island in the Visayas, and 23 smaller MPAs managed by local government and community organizations.

Two-thirds of the reefs are rated in the high or very high threat categories, going up to nearly 80 per cent when global warming and coral bleaching are included in the analysis.

Infrastructure development and crowding of coastlines, along with pollution mainly from farms and erosion of deforested mountains, threaten nearly 60 percent of reefs, the report said. — TJD/VS/HS, GMA News

...the upbeat sales

Vehicle sales up on improved supply, economy

By: Riza T. Olchondra
Philippine Daily Inquirer

Wednesday, July 11th, 2012

 

 

Vehicle sales in June grew by 25 percent year on year on improved supply and favorable economy, the Chamber of Automotive Manufacturers of the Philippines (Campi) said in a statement.

 

During the month, vehicle sales reached 13,697 units, up from the 10,935 cars sold in June 2011, it said.

The 25 percent year-on-year growth in number of units sold brought year-to-date industry sales to 72,874 units, Campi said.

In January to June 2011, sales reached 69,782 units, Campi said.

“Because of the improved supply situation and stable economy in the country, sales have improved significantly. The local automotive industry continues to exceed monthly forecasts and perform better than expected because of these favorable situations,” Campi said.

Toyota Motor Philippines maintained its lead with a market share of 40 percent. Mitsubishi followed with 23 percent and Honda with 8 percent.

“Manufacturers have recovered from their supply problem and are now able to fully serve customer demands.

We are very pleased to end the first semester of the year on a high note,” Campi president Rommel Gutierrez said.

Campi said the strong performance came just as the industry was preparing to host the 4th Philippine International Motor Show on August 16 to 19 at the World Trade Center.

“This event aims to highlight the automotive industry’s role in the economic development by providing transportation requirements. The motor show also intends to promote the automotive industry’s global environmental responsibility,” Campi said.

...the PH franchise industry

PH franchising industry 3rd in world for jobs created

by Ira Pedrasa,

ABS-CBNnews.com

07/12/2012

 

 

MANILA, Philippines - Franchisers in the Philippines urged the government to provide them tax incentives and subsidies so they can grow faster.

 

The Philippine Franchisers Association (PFA) noted that their counterparts abroad are able to compete because they are supported by their governments.

PFA President Elizabeth Pardo-Orbeta said, while franchisers in countries like Malaysia and Macau are heavily subsidized by their governments, the local franchise industry is not getting any type of support at all.

Orbeta said they floated the idea of giving tax incentives and subsidies to participation in international expos for franchisers to the government years back.

“We should be growing a lot faster if we are getting support from the government. We believe that franchising is still the best way for us to grow our economy,” she said at the media launch of the Franchise Asia Philippines (FAP) 2012 slated from July 25 to 29 at the SMX Convention Center.

The industry, on its own, managed to increase its revenues from $3.04 billion in 2000 to an estimated $11 billion in 2011. The Philippine franchising industry ranks 10th in the world in terms of revenues.

The local franchising industry now provides about 1.1 million jobs and ranks 3rd globally next to the United States and Japan.

The Philippines currently has about 1,300 franchise concepts, with 124,000 total franchisees, the 4th best in the world.

Charito Estrada, PFA executive director, said the industry is growing at an average pace of 30 percent annually, and this can be matched this year based on the pronouncements of the franchisers.

“You can hear our members, they are all bullish and are talking about expansion so I believe this will be another good year,” Estrada said.

Lin Deres, Goldilocks franchise relations head, said the Philippines should emulate other countries that offer good incentives to their franchisers, including subsidies to trips abroad when they participate in expos and develop new markets.

“We need incentives to grow, especially those who are just starting up,” Deres said.

Samie Lim, PFA co-founder, said there are at least 30 key countries that Filipino franchisers can go initially if they want to make their way into the different regions, including South Africa for the African continent.

“We can use them as gateways to their regions as much as they are using the Philippines as gateway to our region,” Lim said.

...the PH export trend

Higher electronics shipments to boost total exports

Philippine Daily Inquirer

Wednesday, July 11th, 2012

 

 

The National Economic and Development Authority (NEDA) is optimistic that electronics exports will improve in the coming months.

 

Electronics, which accounted for 38 percent of the country’s total exports in May, declined by 0.7 percent to $1.872 billion. This followed a sharp 23.8-percent drop in April.

“On a positive note, there still appears to be good prospects for growth in the electronics sector, as indicated by improving book-to-bill ratio in Japan and a parity of above 1.0 in the US,” Economic Planning Secretary Arsenio M. Balisacan said in a statement.

“In fact, the book-to-bill ratio in the US has been above 1.0 for four consecutive months, reaching 1.05 in May 2012,” Balisacan added.

A book-to-bill ratio or parity of above 1.0 indicates an upbeat market, as demand or bookings outpace supply or billings. A parity of less than 1.0 suggests weak demand, the NEDA said.

Revenues from the semiconductor sector, which makes up the majority of electronics exports, will be sustained by strong demand for consumer-oriented products such as mobile phones and media tablets, said Balisacan, citing industry sources.

Asian Development Bank Country Director Neeraj K. Jain earlier said that a strong performance of the electronics industry would boost export growth in the second half.

Jain added that the ongoing reconstruction in Japan is helping boost Philippine exports.—Ana G. Roa

...the Filipino brand goes international

Filipino Franchises Venture In Low Priced Markets Africa, Turkey, ME

By BERNIE CAHILES-MAGKILAT

July 12, 2012

Manila Bulletin

Philippine companies are setting their sights at new foreign markets, particularly low-priced markets Africa, Turkey and Middle East, which are hungry for affordable franchises, even as foreign franchises are flocking into the country in view of the economic difficulties in the EU and the US.
 
Samie Lim, the father of Philippine franchising said at the press launch of   Franchise Asia Philippines 2012 slated to be held this month by the Philippine Franchise Association (PFA), said that Africa is a good destination for Filipino brands as well as Turkey. He said Turkey could serve as the Philippines link to the EU.

Crystal Clear is franchising in Sierra Leone while Max’s is going to foray in other parts of the Middle East.

“Philippine franchises are going to low priced markets such as South Africa, Turkey and the Middle East as our new markets,” he said.
 
Other businesses are also breaking from their provincial territories and into Manila to promote their brands.
On the other hand, Lim said the US and the EU brands which used to snub the Philippines have no choice anymore but to go to the Philippines because of the growing power buyer of the huge Filipino population.
 
“We really have gotten the global attention of franchising following our hosting last year of the World Franchising where 30 countries participated,” he said.

“There will be foreign franchises coming in this year and next year we are unstoppable because we have already started the cycle. The Philippines is going to be the link of franchises in Asia from the EU and US to other Asian markets,” Lim added.

Based on the World Franchise 2011 report, the Philippines ranked 11th in the number of franchise concepts (124,000 concepts), fourth in number of franchises (1093 franchises) and third in the number of employment (1.023 million).

Aside from the prominence the Philippine generated from last year’s hosting of the World Franchise events here, Lim noted the strong tourism sector and the strong government support for the industry.

He said the tourism sector, which is expected to lure 6 million tourists by 2016 would need 8 million Filipino personnel. On top of these, there are an estimated 32 million local tourists.

Lim said that 40 to 60 percent of a tourist’s expense of his trip goes to shopping, thus benefiting the retail sector also.

The banks are also extending financing not to franchises but to franchisors that are still developing their franchising systems.
 
PFA chairman Robert Trota said the Philippines’ participation to the Madrid Protocol would help local franchises to expand to 85 countries globally by making one-time application with the Intellectual Property Office of the Philippines at a fee of only P50,000.

“This is ideal for the Philippines, you gain the opportunity to go global. If in the future you decide to go global you have already your bases covered,” Trota said noting there are over 8 million Filipinos overseas who will always patronize Philippine products.

Elizabeth Pardo-Orbeta said that the main objective of Philippine franchises when they expand abroad is to be able to go mainstream because that is where the huge customer is. (BCM)

...the first PH Wi-Fi City

Makati wants to become first Wi-Fi city in PH

07/11/2012

ABS-CBN News

 

 

MANILA, Philippines – The city government of Makati on Wednesday said it hopes to make the entire city covered by Wi-Fi Internet.



Makati City by night (hicoronado77, Flickr photo)

 

Mayor Jejomar Erwin Binay, who celebrates his 35th birthday tomorrow, said the first step towards reaching this goal is to make the city hall a free Wi-Fi zone. Makati is looking to have Wi-Fi for all of its 33 barangays.

"We are laying the foundation for transforming Makati into the country's first wireless city. We recognize that embracing modern technology is the fastest way to achieve inclusive progress and equitable growth in this age of globalization,"  Binay said in a statement.

The city government will also officially launch its official traffic Twitter account @MakatiTraffic which will provide motorists and commuters 24-hour traffic updates.

“The project aims to provide fast and efficient delivery of updates on road conditions or incidents, real-time traffic information and advisories particularly on major streets in the city,” the statement said.

---

...the great places to retire

PHL named as one of 10 great places to retire

 

By CARMELA G. LAPEÑA,

GMA News

July 11, 2012

 

 

With its cheap food, beautiful beaches and beer for less than a dollar, the Philippines is a great spot to settle down, according to a news aggregation website.

 

"Taxes are minimal, so living is very comfortable on a pension of $3,000 per month. Post 50s may have to share the beach with younger folks since the minimum age for ex-pat retirees is 35," The Huffington Post said of the Philippines in its feature on 10 great places to retire overseas.

 

With beautiful beaches like Panglao in Bohol, the Philippines is a great place to retire. Brian Ong

 

 

 

 

 

 

According to a report on Yahoo, the Philippines is one of the most tax-friendly places to retire, with income

tax from five to 32 percent on worldwide income, sales tax at 12 percent, property tax at one to two percent, capital gains tax at 6 percent, and no tax on foreign retirement income. 

 

Citing a report from Global Post, they said 25,000 foreign retirees have settled in the Philippines since 1985.

 

Of this number, 1,200 are in the nightlife hub of Angeles City, around two hours from Manila. 

 

"They can live here like kings. Foreigners adapt pretty well here mainly because the Filipinos are pretty flexible," the Global Post quoted Christine Nuñag, head of the Angeles City Tourism Office. 

 

According to the Philippine Retirement Authority, there were 2,234 enrollees in 2011 in the retirement program, with the top nationalities from the People's Republic of China, Korea, Republic of China (Taiwan), Japan, and the United States.

 

"Retirement migrants have expressed their ease in adopting the Filipino culture, in which the Western culture is merged with the traditional. And definitely they find excitement and fun in most places they have visited all over the country," the PRA said. 

 

Early this year, the PRA incorporated the Department of Tourism's campaign "It's More Fun in the Philippines" in its marketing materials. 

 

"With the country's appealing natural wonders, its low cost of living, attractive investment opportunities, exciting leisure facilities, including excellent medical facilities and educational institutions, retirees may find the ideal retirement destination in the Philippines. If we add the caring and resilient nature of Filipinos, retirement migrants will find it more "fun" to retire in the country," the PRA said. –KG, GMA News

...the PH peso

Peso is ‘top pick’ of Morgan Stanley

By: Michelle V. Remo
Philippine Daily Inquirer

Wednesday, July 11th, 2012

 

 

International financial services firm Morgan Stanley has selected the peso as its latest “top pick” currency, citing the favorable economic conditions and significant dollar liquidity of the Philippines.

 

In its latest report on currencies, Morgan Stanley told its yield-seeking clients that the Philippine peso has so far outperformed other emerging market currencies and was likely to keep appreciating against the dollar over the near term.

It sees the peso strengthening to 40.75 against the greenback by the end of this year and rise further to 39.50:$1 by the end of next year.

“The [Philippine peso] continues to outperform its peers in the region because of its robust fundamentals,” Morgan Stanley said in the report distributed to clients. “Capital inflows [to the Philippines] are picking up as investors are attracted not only by strong growth conditions but also the improving credit position of the [Aquino administration].”

In the first quarter, the Philippine economy grew 6.4 percent from a year ago, faster than the 4.9 percent registered in the same period last year. The Philippines’ growth in the first three months was the second-fastest in Asia after China’s 8.1 percent.

The outstanding debt of the national government as a percentage of the country’s gross domestic product has dropped over the years from a peak of 84 percent in 2004 to only about 50 percent today.

Economic officials said the declining debt burden showed the improved capability of the Philippines to settle its debts to foreign creditors and bondholders.

Morgan Stanley also cited the improving dollar liquidity of the country that has made it more capable of meeting its foreign currency-denominated obligations.

“[The peso] is supported by a positive macro dynamic of above-trend growth and external surplus—no other currency in [the Asian region excluding Japan] has this macro support right now. In addition, the [peso] is supported by a twin surplus,” Morgan Stanley said. The bank was referring to the surplus in the Philippines’ current and capital accounts. A surplus indicates that inflows of dollars and other foreign currencies exceeded the outflows.

The BSP earlier reported that the current account of the Philippines posted a surplus of $882 million in the first quarter. The current account is a record of the inflows and outflows of dollars and other foreign currencies resulting mainly from export earnings, remittances, payment for imports, settlement of foreign debt.

The capital account registered a surplus of $962 million during the period. Capital account covers inflows and outflows resulting from portfolio and direct investments.

The favorable outlook on the Philippine economy by entities like Morgan Stanley has been credited for the increased appetite for peso-denominated portfolio assets, mainly stocks and bonds.

The Philippine Stock Exchange index hit a record high last week, breaking into the 5,300 mark amid optimism on the economy. The rise in demand for peso-denominated portfolio assets was credited for the peso’s rise to a four-year high of 41.68 against the dollar last week.

...the PH stock market

Net foreign buying at PH stock market up 382% to P71 B in 1st half

By: Doris C. Dumlao
Philippine Daily Inquirer

Tuesday, July 10th, 2012

 

 

This strong foreign investor appetite  allowed the main-share Philippine Stock Exchange (PSE) index to break into new all-time highs 19 times in the first semester, rising by a total of 20 percent to finish at the 5,246.41 level at the end of June.

 

 

MANILA, Philippines—Foreign investors went on a buying binge in the Philippine stock market in the first half of the year, resulting in a hefty 382.3 percent year-on-year surge in net foreign inflow to P71.12 billion and allowing the local index to outperform peers across the region.

 

The net foreign buying recorded in the first six months stood nearly five times larger than the P14.75-billion level recorded in the same period last year, said  a report from the Philippine Stock Exchange.

This strong foreign investor appetite  allowed the main-share Philippine Stock Exchange (PSE) index to break into new all-time highs 19 times in the first semester, rising by a total of 20 percent to finish at the 5,246.41 level at the end of June.

“The market’s run in the first half has been nothing short of historic, and there’s a good chance that we will be able to extend this forward momentum as we anticipate better first-half earnings from our listed firms. The latest sovereign credit rating upgrade also provides additional support for future growth so overall, I think we are in a terrific position to keep on improving,” PSE president Hans Sicat said in a press statement.

Last July 5, the PSEi again beat its previous record high to post a fresh all-time high at 5,369.98. As of July 6, the PSEi was the top performing market in Asia, with a gain of 22.7 percent year-to-date, beating bourses in Singapore, Indonesia, Malaysia, Thailand, Vietnam, Hong Kong, India and China, among others.

In the first six months, cyclical stocks banking and property led the PSEi’s rise in the first quarter albeit all indices were on the green.

The financial index emerged as the best performer in the first half after surging by 34.6 percent to the 1,304.42 level. The financial index was likewise the best performer in terms of bottomline based on first-quarter earnings culled by the PSE.

The next best performer was the property index, which jumped by 30.1 percent to finish at 1,927.48 in the first half.

The holding firms index  rose by 28.1 percent to the 4,488.80 level.

Other indices performed as follows in the first six months: the industrial index rallied by 10.8 percent to finish at 7,839.57; the services index  climbed by 8.8 percent to 1,759.02; -the mining and oil index crept higher by 4.8 percent to 24,629.48 points.

“Just like our main index, investor confidence in Philippines Inc. is at an all-time high. What’s remarkable is that we have been able to achieve unprecedented growth even in the midst of ongoing uncertainties in the Western hemisphere and a cooling Chinese economy. This is a testament to the effectiveness of the reforms that the country has undertaken, which further contributed to the stable macroeconomic environment,” Sicat said.

The PSEi’s finish in the first six months was higher by 955.20 points from its previous close of 4,291.21 in the same period last year.

The combined market capitalization of issues listed on the PSE during the January to June period stood at P10.05 trillion, up by 12.8 percent from a year ago.

Total turnover for the first half reached P947.73 billion or 43.2 percent higher than the P661.81 billion registered in the same period the previous year. Average daily turnover stood at P7.64 billion, an increase of 45.5 percent year-on-year.

...the Miss Teen USA

Fil-Am is Wisconsin's rep to Miss Teen USA

by Yong Chavez

ABS-CBN North America News Bureau

07/10/2012

ONTARIO, California - Briana Yamat was only 14 years old when she was crowned as Wisconsin's representative to the Miss Teen USA competition which will be held in July 28.

Winning on the first time she joined a pageant is an exciting surprise for Yamat.

“I could not believe it. It’s one of those moments that you don't believe it,” said Yamat.

Yamat said she is ready for the Miss Teen USA pageant, the junior edition of Miss USA.

However, there is only one thing that makes her nervous: falling down the stairs.

“I hope I can make it down there without falling. I feel that I'm very prepared and this whole year I have been preparing,” she said.
Although busy with her life as a beauty queen, Yamat remains an honor student.

Apart from her dream of one day winning as Miss Universe, the Fil-Am teen wants to be a doctor.

Born in America, Yamat’s grandparents hail from Pampanga. Her mother, a former beauty queen, is her pageant coach.

“Every Sunday night, we have a family get together and we eat Filipino food all the time. My favorite is sinigang, actually. I wish I could learn how to cook it, but I can't,” she said.

Miss Teen USA currently is a contest where the candidate with the most online votes secures an automatic place in the pageant's semifinals round. Individuals can vote 10 times a day.

“To all the Filipino viewers out there, please vote for me. I hope to make you all proud. Thank you,” she said.

Yamat said she admires Filipino beauty queen Venus Raj and Shamcey Supsup. If she wins, Yamat will follow the footsteps of her other idol, Vanessa Minnillo, the Fil-Am TV host and wife of singer Nick Lachey.






Vanessa Minnilio, Miss South Carolina 1998


Minnillo won Miss Teen USA in 1998.

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...the mega infra budget

PH sets record P404.6-B infra budget for 2013

Reuters

07/09/2012

 

MANILA  - The Philippines plans to spend a record P404.6 billion ($9.6 billion) on infrastructure next year as it aims to push its growth rate to 8 percent in subsequent years, Budget Secretary Florencio Abad said on Monday.

 

The Southeast Asian economy could see growth accelerate to the highest levels since democracy was restored in 1986, he said, supported by higher state spending, strong domestic demand, remittances and other factors.

Abad said it is possible growth could be 7-8 percent in 2015 and 7.5-8.5 percent in 2016.

He told reporters that the budget for next year will include infrastructure spending that's more than 19 percent above the P339.3 billion allocated for it in this year's budget.

With the increased infrastructure spending, "you can imagine the impact on employment, on reducing costs of doing business as well as expanding opportunities for the private sector," Abad said.

The government does not plan new taxes in 2013, but is forecasting that its overall revenue will increase 14.1 percent from this year's level.

However, Abad said next year's allocation on infrastructure could increase if proposed reforms on cigarette and tobacco taxes are passed into law, generating more revenue.

Manila will propose to Congress a 10.5 percent increase in its spending budget to P2.01 trillion ($48 billion) for 2013 against this year's P1.82 trillion, Abad said.

He said the percentage of the new budget going to social services would be increased to 34.8 percent from this year's 33.8 percent.

The government wants to achieve annual growth of 7 to 8 percent within President Benigno Aquino's six-year term to make a serious dent in poverty. About one-third of the country's 94 million people are poor.

In the first quarter of 2012, the economy grew 6.4 percent year-on-year, second only to China among Asian economies, and Aquino told Reuters last week he expected the pace to accelerate in the second quarter. 

Abad said the government is sticking to this year's growth target of 5 to 6 percent, despite the economy's impressive first quarter because of the uncertainties stemming from the debt crisis in Europe and slowing U.S. and Chinese economies.

Growth should rise to between 6 to 7 percent next year, followed by 6.5 to 7.5 percent in 2014, Abad said.

Ratings agencies, which have updated their views on the Philippines, have said the country must lift its long-term growth potential through higher investments if it wants to secure investment grade status.

...the women's advocate

Pinay advocate of women's rights receives Holy Cross medal from pope

 

July 9, 2012

GMA News

 

A Filipina advocating women’s rights and dignity has been awarded the Holy Cross Pro-Ecclesia et Pontifice medal by Pope Benedict XVI.

In a news report on its website, the Catholic Bishops’ Conference of the Philippines said the award was conferred on Dr. Zenaida Rotea at the Santa Maria Goretti Parish in Manila.

 

The medal is given to lay people and clergy who have given zealous and outstanding service to the Church.
 

CBCP president and Cebu Archbishop Jose Palma and Marbel Bishop Dinualdo Gutierrez led the awarding ceremony.

 

“Rotea has worked for many years as a volunteer and leader on women empowerment and a former executive secretary of the CBCP’s Office on Women which is at the forefront of the church’s campaign against the exploitation of women,” the CBCP said.

 

According to the CBCP, Rotea served in the Catholic Women’s League (CWL) of the Philippines as an active member for 28 years.

She also served as its president from 1996 to 2000.

 

During Rotea’s term, the CWL adopted a national action program that established women’s desks in the dioceses for counseling victims of violence, rape, incest and sexual harassment.

 

The CWL also organized seminars and meetings focusing on legal literacy, family code, illegal recruitment, poverty alleviation, skills training, and cooperatives.

 

Rotea in 2000 led the formation of the Catholic Initiative for Enlightened Movie Appreciation (CINEMA), which promoted discerning appreciation of film according to Christian values. - VVP, GMA News

...the PH real estate index

PH improves in global real estate transparency index

 

ABS-CBNnews.com

07/09/2012

 

 

PH ranked 7th in a list of markets that have made significant improvements between 2010 to 2012. 

 

 

MANILA, Philippines - The Philippines is one of the top 10 improvers in the 2012 Global Real Estate Transparency Index, a biennial worldwide survey conducted by Jones Lang LaSalle (JLL) .

 

The Philippines ranked 35th among 97 real estate markets in the world in the survey. However, it ranked 7th in a list of markets that have made significant improvements between 2010 to 2012. 

The list of top 10 improvers included Turkey, Brazil and Mexico. The Philippines tied with Indonesia, but bested Vietnam, South Korea and Thailand in the category.

David Leechiu, JLL country manager, said the Philippines' improved score on the transparency survey would help the country attract more investors.

"Increased transparency attracts more investors. And as more investors flock to a country, the environment for even greater transparency improves," he said, in a statement.

Claro Cordero, head of research of JLL, said the Philippines' improved ranking in real estate transparency is attributed to changes in regulatory and transaction processes.

"The supervision of the licensing of various real estate professionals by the Professional Regulation Commission and the digitization of land titles by the Land Registry Commission are among the factors that improved our country’s transparency rating. The increase in threshold amounts for VAT-exempt real estate transactions likewise pushed up the scores of the Philippines," Cordero said.

JLL's Global Real Estate Transparency Index named the United States as the most transparent real estate market, followed by United Kingdom and Australia.

The Index noted that in emerging Asia, the increase in corporate occupier activity is increasing the pace of transparency improvement in the Philippines, Vietnam and Indonesia.

The Philippine real estate market has seen a significant increase in international offshoring companies due to the booming business process outsourcing industry.

...the faith that breaks (record)

Iglesia ni Cristo breaks 3 world records

ABS-CBNnews.com

07/09/2012

 

 

Residents receive a free dental examination during an event organized by Iglesia ni Cristo (Church of Christ), a local Christian movement in the Philippines. Photo by Cheryl Ravelo, Reuters

MANILA, Philippines – After gaining media attention for planning to put up what has been dubbed as the world’s largest indoor arena, Iglesia ni Cristo is at it again as it broke three Guinness world records.

The influential religious group achieved the feat during its medical-dental mission for informal settlers in Manila last Saturday, July 7.

Tarika Vara, Guinness World Records’ official adjudicator, said Iglesia ni Cristo broke the record for the largest dental health check, the most number of blood pressure readings taken in eight hours, and the biggest number of blood glucose level tests conducted in eight hours.

She said a total of 4,128 people benefited from the dental health check in Manila, breaking the previous record of 3,377 people recorded in India in 2009.

Vara said the Iglesia ni Cristo event also posted a record 8,026 blood pressure readings and 5,217 blood glucose level tests, higher than the previous Guinness records of 7,203 in Kuwait and 3,573 in India, respectively.

Last year, Time.com reported that the designing of a 50,000-seat stadium of Iglesia ni Cristo in Bulacan has already started.

The $213-million facility will be built in time for Iglesia ni Cristo’s centennial celebration in 2014, according to Populous, the US architectural firm behind the project.

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...the Manila's emerging urban districts

3 factors feeding growth of 18 emerging urban districts

By: Tessa R. Salazar
Philippine Daily Inquirer

Saturday, July 7th, 2012

Cheaper real estate, the need for businesses to be near sources of labor and the aggravation of chronic traffic problems in the traditional central business districts (CBDs) are the three main factors that have contributed to the growth of 18 urban districts in Metro Manila.

Claro dG. Cordero Jr., Jones Lang LaSalle Leechiu’s head of research, consulting and valuation in the Philippines, in his analysis titled “Metro Manila’s Emerging Urban Districts’ Success Factors Digest” published internationally by JLL, cited these three factors have prompted developers to make use of formerly idle land, such as those intended for military installations, old industrial facilities and reclaimed areas to house new communities to cater to the growing demand for a “live-work-play” environment.

Cordero revealed to Inquirer Property that there are now about 900 hectares (or 9 million square meters) of prime developed land located in 18 emerging urban districts (EUDs) within the geographical borders of Metro Manila. The 18 emerging urban districts are:

• UP Techno Hub;

• Eton Cyberpod Centris;

• Eastwood City;

• Araneta Cyberpark;

• Greenhills Redevelopment;

• Rockwell BPO Complex;

• Edsa Central;

• Robinsons Cyberpark;

• Rockwell Center;

• Century City;

• McKinley Hill;

• SM Mall of Asia Complex;

• Metropolitan Business Park;

• Newport City;

• Aseana IT Business Park;

• Asiaworld City;

• Madrigal Business Park; and

• Filinvest Corporate City.

“The growing shift of interest and activities towards the various EUDs across Metro Manila is the primary factor for a construction boom in the last decade as the growth in supply of key property segments (office, residential and retail) in these districts outpaced that of the traditional CBDs,” Cordero told Inquirer Property.

Cordero added that these emerging districts have presented themselves as alternative locations with cheaper rents and prices than those of traditional CBDs.

Cordero cited the EUDs as the primary reasons for the construction boom.

“In general, urban districts are experiencing a major construction boom with the pace of new supply far outstripping that of the traditional CBDs. For example, between 1999 and 2011, the average annual rate of growth for new grade A office developments in the urban districts has been 21.8 percent compared with 8.4 percent in the traditional CBDs. Also, the shopping mall supply in the traditional CBDs grew at an average annual rate of only 4.4 percent from 1999 to 2011, compared to the urban districts which expanded by 13.1 percent.”

Cordero furnished Inquirer Property the breakdown of the reasons for the growing interest on EUDs. He enumerated what have made these urban districts successful, and their evolution and implications to Metro Manila’s real estate landscape:

1 The presence of a well-designed community masterplan ensures a balanced mix and growth of different property developments within the district.

2 Single ownership of the urban district allows for a more controlled and balanced development. The new urban districts in Metro Manila (except those that were introduced prior to 1997) are typically controlled by a single developer;

3 Lower business costs. The relatively low rents in these urban districts are complemented by the presence of incentives in the form of tax holidays on income and the importation of goods;

4 The advent of new and efficient technologies in building and property management has paved the way for build-to-suit developments (characterized by higher technical specifications, lower cost space and larger floor plates).

5 The completion of new modes of transport and transport corridors has enhanced the movement within and into these established business districts. The majority of the existing urban districts are located along these corridors which give good connections to the traditional business districts.

...the Gilas

Gilas PH gains entry to FIBA Asia Cup

ABS-CBNnews.com

07/07/2012

 

MANILA, Philippines – Smart Gilas Pilipinas gained entry to the FIBA Asia Cup by topping this year’s Southeast Asian Basketball Association (SEABA) Cup in Chiang Mai, Thailand on Saturday.

 

The Philippine national team clobbered host country Thailand, 74-52, finishing the SEABA tournament with a 4-game conquest.

The Filipinos overpowered the Thais, leading by as much as 20 points during the final game.
Gilas also won against Singapore, Malaysia and Indonesia.

With the victory, the Philippine squad will compete in the FIBA Asia Cup scheduled in September.

...the Flash

Donaire outpoints Mathebula, becomes unified champ

 

ABS-CBNnews.com

07/08/2012

 

 

MANILA, Philippines – (UPDATE 1) Nonito “The Filipino Flash” Donaire defeated South African boxer Jeffrey Mathebula via unanimous decision to become the unified World Boxing Organization (WBO) and International Boxing Federation (IBF) super bantamweight champion.

 

Donaire won with scores of 117-110, 118-109, and 119-108.

“The Filipino Flash” nearly ended the fight when he knocked down Mathebula with a cracking left hand towards the end of the fourth round.

Donaire connected with a strong left hook to Mathebula’s chin, sending the South African to the canvas. Mathebula was saved by the bell, however, and the fight went the distance.

For 12 rounds, Donaire was troubled by Mathebula’s greater reach, as he often ate several punches while moving forward. But Donaire just shrugged off most of Mathebula’s punches and landed the more telling blows, especially in the later rounds.

After getting knocked down, Mathebula became more active in the fifth and sixth rounds, putting together a series of good combinations and keeping Donaire away with his longer reach. But Donaire again ignored Mathebula’s shots, often lunging forward to pepper Mathebula with left hands.

Mathebula spent most of the later rounds covering up, throwing jabs only to keep Donaire at distance. By the 11th round, he was on his skates after eating several power punches from Donaire.

Donaire, who clearly wanted to end the fight on a spectacular note, came out swinging in the 12th round and worked Mathebula’s body in an attempt to create an opening for a knockout.

But Mathebula was an unwilling partner, as he spent most of the final round on the defensive end.

Donaire’s record improved to 29 wins against one loss, with 18 wins coming by knockout.

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