...the Azkals in Lions' eyes

Phl Azkals make impact in Suzuki Cup

By Olmin Leyba

The Philippine Star

December 15, 2012

 

 

 

 

 “I think it’s already shown from two years ago (when the Azkals made a surprise semis appearance), that they’re a much stronger team (now) and it’s getting harder and harder to beat them. They’re big, they’re physical and you can see that they’re not giving up, they have that attitude and spirit. They’re gonna do well in the future,” - Daniel Bennett, SG Lions

 

 

MANILA, Philippines - The Azkals may have fallen short of their quest to become the region’s new alpha dog but they did earn the respect of opponents as an emerging power.

 

After playing the Pinoy booters in two hard-fought matches in the semifinals of the AFF Suzuki Cup, veteran defender Daniel Bennett of finalist Singapore described the Azkals as a tough customer and expects them to be serious contenders in future Suzuki Cup stagings.

 

“You know they just have to keep on going,” Bennett said after the Lions eked out a 1-0 win over Phl XI Wednesday night at the Jalan Besar Stadium to secure their entry into the finals and spoil the Pinoys’ championship dreams.

 

“They have a good side and they missed a couple of players as well in the Suzuki Cup (goalkeeper Neil Etheridge and midfielder Stephan Schrock) but I can see in years to come that Phl will be very, very hard to beat,” he added.

 

Bennett and the Lions were held to a 0-0 draw by the Azkals in the first leg at Rizal Memorial, but they got the better of the Pinoys in the critical return leg at home, gaining from Khairul Amri’s 19th minute volley.

 

“That game (return leg) could have gone either way, honestly. I mean they came in probably with a slight advantage as we haven’t scored an away goal so it was tough for us. But getting that first goal was key to our game really,” he said.

A member of the Singapore side that ruled the Asean tourney in 2004 and 2007, 34-year-old Bennett has seen the Azkals progress over the last few years. The current team, he said, is far better from the one he made his debut against in 2002.

 

“I think it’s already shown from two years ago (when the Azkals made a surprise semis appearance), that they’re a much stronger team (now) and it’s getting harder and harder to beat them. They’re big, they’re physical and you can see that they’re not giving up, they have that attitude and spirit. They’re gonna do well in the future,” the English-born fullback said.

 

Singapore, a three-time Asean titlist, has had a first-hand view of the Azkals’ improvement. In the 2010 Suzuki Cup group stages, they were forced to a 1-1 draw by the resilient Pinoys on the way to the latter’s breakthrough Last-4 stint. The following year, they scored a 2-0 win in a friendly but in 2012, the Azkals handed the Lions a 0-2 defeat at home and 0-1 setback in Cebu in the buildup to the Suzuki Cup.

 

Bennett said the pair of pre-tournament friendlies helped them get familiar with the Azkals, a helpful thing come semis.

 

“It definitely helped us. It was an absolute blessing that we played them two games and sometimes it’s better to lose to them in those friendlies because we learned that they’re catching us on the counter attack a few times. We changed our game slightly because we conceded those goals in Singapore and Cebu on the counter attack. Especially on my part, I stayed back a little bit more and we didn’t commit so many people forward,” he said.

 

The Lions will be gunning for a record fourth title against Thailand, which ousted 2010 winner Malaysia, 3-1, on aggregate. It will be a rematch of the 2007 finals which Singapore won, a duel marred by walkout by the Thais over officiating.

...the rising PH agriculture

Level of farm mechanization in Phl rising

 

 

By Czeriza Valencia

The Philippine Star

December 15, 2012

 

 

 

 

MANILA, Philippines - The level of farm mechanization in the country has risen to one horsepower per hectare (h/ha) from 0.52 hp/ha in the ‘90s, making it possible for the country to catch up with neighboring Southeast Asian countries by 2016, according to the latest survey done by the Philippine Center for Mechanization and Postharvest Development (Philmech).

 

In a briefing yesterday, Philmech executive director Rex Bingabing said that based on the initial results of the survey which was conducted this year, the current level farm of mechanization in the country is at least one hp/ha overall. For rice cultivation areas alone, the mechanization level is placed at 1.60 hp/ha.

 

With continued investment in farm mechanization by the government and the private sector, the local farm mechanization level can rise to two hp/ha by next year.

 

The new survey on the level of farm mechanization in the country covers the period 2007 to 2012 and is based on the number of farm machineries sold and deployed during the period.

 

In 1995, the level of farm mechanization in the country was placed by the Bureau of Agricultural Statistics (BAS) at 0.52 hp/ha.

 

The Philippines still lags behind other countries in Southeast Asia in terms of farm mechanization.

 

Among the leaders in Asia are Japan with a mechanization level of seven hp/ha, South Korea at 4.11 hp/ha, China with 4.10 hp/ha, and Vietnam with 1.56 hp/ha.

The country’s farm mechanization level is now currently at par with those of Pakistan and India which also has mechanization levels of 1.02 ph/ha

 

Increased farm mechanization, or the use of machinery to ease drudgery and time spent on crop cultivation and maintenance, can significantly shorten land preparation time from one month to only two weeks and harvest time from a regular coverage of one hectare per day to four hectares per day.

 

The Agriculture department last year launched its mechanization program for rice farming as part of its efforts to make the country self-sufficient in rice supply by 2013.

 

This year, the department has a budget of P2.6 billion for farm machinery subsidies. Last year, the department released P1 billion; for 2013, it has allocated a budget of P2.4 billion for farm mechanization.

 

During the program’s six-year duration, the target is to purchase and distribute up to 7,000 postharvest units and 90,000 units of on-farm machineries.

 

Under the farm modernization program, the DA can subsidize up to 95 percent of the acquisition costs of farm machineries by qualified farmer organizations and irrigators’ associations. The remaining 15 percent of the acquisition cost can be shouldered by the beneficiaries themselves, their respective local government units or other private entities.

 

“It is only now and during the past few years that farm mechanization is being taken seriously by the government,” said Bingabing.

 

He said the country’s newfound aggressiveness for pursuing food sufficiency is now recognized by other countries.

 

“Vietnam now considers the Philippines as a potential competitor in rice production.”

...the PH consumer sentiment

Consumer sentiment improves in Q4

BSP survey notes improvement in low-income segment

By Michelle V. Remo
Philippine Daily Inquirer

Saturday, December 15th, 2012

 

 

CONSUMER sentiment in the country significant improved, albeit remained negative, in the fourth quarter as the economy’s favorable performance boosted the outlook of some households on their own incomes.

Results of the latest Consumer Expectation Survey (CES) conducted by the Bangko Sentral ng Pilipinas showed that for the fourth quarter of 2012, the consumer confidence index (CCI) stood at -10.4 percent. This was an improvement from the -13.3 percent for the third quarter and the -20.6 percent for the fourth quarter of last year.

This was also the second-highest index recorded since the central bank started conducting the CES in 2007. The highest was registered in the fourth quarter of 2010 at -8.5 percent.

According to Rosabel Guerrero, director of the central bank’s economic statistics department, the improvement in the index came with the belief that the improving performance of the overall economy led to higher investments that, in turn, increased employment opportunities.

The improvement in the index was also credited to a perception of good governance by the Aquino administration, increased investments of the government in infrastructure that could help generate more private-sector investments, and efforts to improve the peace-and-order situation in Mindanao.

The index is computed as the percentage of respondents who said they felt better off during the period than in the past less the percentage of pessimistic respondents.

BSP Deputy Governor Diwa Guinigundo said that one of the highlights of the results of the latest quarterly survey on consumers was that the increase in the index was due largely to the improved sentiment of low-income households, or those with monthly incomes of P10,000 or below.

The nationwide survey covered 5,789 households, of which a little over half or 51.7 percent were respondents from the low-income segment.

“The improvement in the sentiment of low-income households is very encouraging. In the past, it has always been the low-income groups that were dragging the index,” Guinigundo said.

Meantime, results of the survey showed the expectations that economic conditions both of households and the entire country would improve in the coming quarter and the year ahead. The “next-quarter” index stood at +6.3 percent, while the “next-year” index hit an even better figure of +6.8 percent.

The “next quarter” index reflects expectation of households on how their and the country’s economic conditions will improve in the coming quarter, while the “next-year” index indicates expectations for the coming year.

...the new US Federal Judge

US Senate confirms first Fil-Am federal judge

By Nimfa U. Rueda
LA Correspondent

Friday, December 14th, 2012

Lorna Schofield

LOS ANGELES—The Filipino-American community is celebrating another milestone: The United States Senate confirmation of the first Fil-Am to serve as Article III federal judge.

By a 91-0 vote Thursday (Friday in Manila), the United States Senate confirmed trial lawyer Lorna Schofield, who was nominated by US President Barack Obama and Sen. Chuck Schumer of New York in April, as a federal district court judge for the Southern District of New York.

Article III judges are nominated by the President, confirmed by the Senate and appointed to lifetime tenure.

Schofield, 56, is the daughter of a Filipino woman who immigrated to the United States during the post-World War II reconstruction of the Philippines.

She grew up in a blue-collar community in the US Midwest, where she earned a full scholarship for her undergraduate education at Indiana University. She double-majored in German and English, graduating magna cum laude in 1977.

Schofield went to New York University (NYU) Law School, where she was a Pomeroy scholar and became editor of the NYU Law Review.

She worked at Debevoise & Plimpton LLP as a litigation partner for nearly 20 years. In 1991, she became the firm’s first minority partner.

Schofield shares a place in history with Judge Alfred Laureta, a Filipino-American who served as judge for the District of the Northern Mariana Islands from 1978 to 1988.

Although technically federal judges, those appointed to the District of Northern Mariana Islands are not lifetime tenure Article III judges but 10-year-term judges under Article I of the US Constitution, according to the Congressional Asian Pacific American Caucus (Capac).

Capac joined various Fil-Am groups in lauding the confirmation of Schofield.

“Ms. Schofield’s confirmation by the Senate is a historic moment not only for our community but [also] for the entire nation,” National Federation of Filipino American Associations (NaFFAA) national chair Ed Navarra said in a statement.

“Given that Asian Americans are significantly underrepresented in the federal judiciary, Ms. Schofield’s addition [to the bench] will greatly enhance the judiciary’s diversity,” he said.

“We need more role models like Judge Schofield to inspire our young people to aspire for public service,” said Gloria T. Caoile, a former White House commissioner.

“[The United States Senate’s] laudable action is a demonstration of their continued commitment to nominate well-qualified and diverse candidates to the federal bench,” said Rozita Lee, former NaFFAA national vice chair and a member of the White House Commission on Asian Pacific American Islanders.

“We are elated with her confirmation and our community is very proud to see a Filipino-American achieve this honor and distinction,” Lee said.

KAYA national cochair Jason T. Lagria said Schofield’s confirmation was “an inspirational story that shows there is no limit to what our community can achieve through perseverance and hard work.”

Lagria said the New York metropolitan area had the fourth largest Filipino-American population in the United States, “so it is encouraging to see our judiciary reflect the population it serves.”

“This is definitely a reflection of continued commitment from our country’s leadership,” said Ray Buenaventura, mayor of Daly City and honorary KAYA board adviser.

“[Schofield] will be an inspiration for the legal profession, especially those from minority groups,” said lawyer and community leader Arnedo Valera, executive director of the Washington-based Migrant Heritage Commission.

“Our judiciary and the legal system as a whole is best served when the judges belonging to different ethnicities are recognized and appointed to the bench,” Valera said.

Schofield also served as an assistant US attorney in the criminal division of the Southern District of New York. She became the first Asian-American Pacific Islander (AAPI) to chair the Litigation Section of the American Bar Association. The National Law Journal named her one of the nation’s 50 most influential minority lawyers.

Schofield and Judge Kiyo Matsumoto of the Eastern District of New York are the only judges of Asian descent to serve on the federal district courts of New York.

“It heartens me to know that the judiciary, the branch of government dedicated to the interpretation of our most important cornerstone–the Constitution–is becoming more reflective of the dynamism and diversity of our nation,” said Congresswoman Judy Chu, Capac chair.

Congressman Mike Honda, Capac chair emeritus, said Schofield’s confirmation is not only a victory for the people of New York and the nation as a whole but also a “giant step toward a more equitable representation of Asian-Americans and Pacific Islanders on the federal bench.”

“Ms. Schofield has broken many barriers throughout her career, and today’s confirmation symbolizes a judiciary that better mirrors the nation it serves,” Honda said.

...the US best lawyers

Pinoy named one of best US lawyers under 40

GMA News

December 13, 2012

 

 

 

Rio M. Guerrero, Esq. was a 2012 recipient of the Best Lawyers Under 40 Award presented by the National Asian Pacific American Bar Association (NAPABA) to “talented and accomplished” lawyers.

 

 

Rio received his award at NAPABA’s 24th Anniversary Gala Banquet in Washington D.C. on November 17, an event attended by leading Asian American lawyers, judges, business leaders, and politicians, such as Supreme Court Justice Sonia Sotomayor, and Second Circuit Court of Appeals Judge Denny Chin. He accepted his award in the presence of his wife Joan and his mother Dr. Rosario Guerrero.

“I am deeply honored and humbled to receive this distinguished national award,” said Rio, who has been practicing immigration law for 15 years. His law firm Guerrero Yee LLP has an office in Manhattan. “It is an overwhelming feeling to be included among the most accomplished attorneys and judges in this country.”

NAPABA President Wendy Shiba congratulated Rio on his award. She said, “You truly deserve it. You are a champion of the (Asian Pacific American) community.”

Rio’s law firm has represented companies, organizations and individuals with U.S. visa, work permit, green card and other immigration-related matters, proud that he and his law partners are “descendants of immigrants.”

In 2012, the Filipino-American National Historical Society (FANHS) honored him with the Contributions to Excellence Award, recognizing his success as an attorney and his pro bono service to the Filipino American community.

Rio is also a member of the American Immigration Lawyers Association New York Chapter. He founded and co-chairs the Asian American Bar Association of New York (AABANY) Immigration and Nationality Law Committee.

Since 2007, he has taught as an Adjunct Professor of Immigration Law at the City University of New York School of Professional Studies. An Edward V. Sparer Fellow at the Brooklyn Law School, Rio holds a baccalaureate degree in Economics and a second one in International Studies as a Dean’s Scholar of The American University of Washington D.C.

AABANY President Jean Lee said she was “thrilled to see talented and deserving AABANY members being recognized by NAPABA.” Executive Director Yang Chen echoed Lee, saying, “We have always been fortunate to count some highly accomplished and distinguished attorneys and individuals among AABANY’s membership.” - The FilAm

...the Asia's best new magazine

Vault named Asia's best new magazine

 

ABS-CBNnews.com

12/13/2012

 

 

Vault magazine's editorial team. Photo: Handout

MANILA, Philippines – Vault, the high-end men's lifestyle magazine of ABS-CBN Publishing, was named this year’s Best New Magazine by the Asian Publishing Awards.

The magazine also received an excellence award in the category Best in Design, Layout and Presentation.

During the ceremony which was recently held in Kuala Lumpur, Malaysia, Vault was cited for “addressing a clearly defined target of upscale, high net worth Filipino males. The publishers have identified a gap and created a fresh looking format.”

"We operate in a very crowded media landscape where it is getting more and more challenging to engage multitasking readers. This is why we are very proud of Vault magazine's achievements since it launched last year,” said Christina Lopez, content director and head of marketing for ABS-CBN Publishing, in her acceptance remarks.

Lopez added Vault’s recognition “reaffirms our belief that great content, innovation and the unyielding commitment to fulfill the needs of our readers will make the difference in today's busy marketplace.”

“Vault, the new player, the rookie brand, made a difference. For an organization that takes pride in building successful homegrown brands amidst so many local and foreign players, this is a remarkable feat," she said.

Vault’s editor-in-chief David Celdran, for his part, said the award was a “nice surprise.”

“Indeed, Asia is experiencing the most dynamic growth in publishing in the world. To be chosen as the best new magazine in this highly competitive region can only be seen as an honor not just for ABS-CBN, but for the Philippine publishing industry as well,” he said.

Following the new recognition, Celdran vowed to continue to stick to Vault's core identity as “a visually driven and highly informative magazine for readers with refined tastes.”

“In the coming issues, expect even more international content as we continue to cover the most exclusive experiences and premium products around the globe,” he added.

...the UK perspective

What a difference a quarter century makes!

 

LONDON EYE

By Hugo Swire

The Philippine Star)

December 13, 2012

 

This week I visited Manila for the first time after a 25-year gap. My previous visit was as a tourist. This time I was here as the British Government’s Minister responsible for relations with South-East Asia.

 

 

 

Twenty-five years ago, the Philippines was just emerging from years of dictatorship. The evidence of mis-management and hasty departure was all too evident when I was shown round Malacañang Palace. There was optimism about the prospects for democracy, but also trepidation about the future.

 

What a difference a quarter century makes! When I called on President Benigno Aquino III at the Palace, the mood of optimism was unmistakable. And the same was true all over Metro Manila, above all in meetings with both Filipino and British business leaders.

 

The bullishness is not without reason. Growth forecasts of 6%, international credit ratings edging towards investment grade, the Stock Exchange heading towards the 6,000 mark, and a budget deficit of 3% of GDP: these are all reasons for the Philippines to feel confident. And just before I arrived, the latest Transparency International survey showed that the anti-corruption agenda is making progress.

 

Of course, Typhoon Pablo was very tragic news. There is an urgent need to get behind rescue efforts in Mindanao. That’s why, in response, I have pledged P22.2 million (or $500,000) on behalf of the British Government to the UN’s emergency humanitarian assistance fund.

 

The good news about the Philippines is increasingly well understood in the UK. Our biggest British companies have long been doing business here: banks like Standard Chartered and HSBC have been here since the 19th century. Shell provides the natural gas that keeps the lights on in Manila. GSK provide vaccines and medicines to keep a growing population healthy. De La Rue print banknotes that flow through the veins of the economy. But it’s not just the blue-chips that are interested. The week before my visit, a delegation of innovative British SMEs from the ICT and built environment sectors were here to investigate opportunities in urban development and planning; next month a renewable energy mission will be here to investigate how they can contribute to the green economy.

 

As for those stock-market highs: more portfolio investment comes into the Philippines from the City of London than from any other financial centre.

 

Like my Prime Minister David Cameron, I firmly believe that business not government drives a healthy economy. So I’ll personally be encouraging more British businesses, big and small, to look at the Philippines.

 

But of course government creates the context in which business thrives. That’s why I was delighted to meet government leaders who are taking forward economic reform and development including Secretaries Purisima and Abaya, and Secretary del Rosario who is making economic diplomacy a key pillar of Philippine foreign policy. I was able to discuss our co-operation in the Mindanao peace process. Peace in southern Philippines will in my view transform international perceptions of the Philippines, not least among businesses. As a former Minister of State for Northern Ireland, I was really pleased that I was able to coincide my visit with that of a delegation from there, who were in Manila to share experiences of police reform which might just prove useful in Mindanao.

 

This year, the British Government has signaled its commitment to a closer relationship with ASEAN, and a closer relationship with the Philippines is central to that agenda. Before Manila I was in Brunei, and as you open your papers this morning in Manila, I expect to be in Burma.

 

Twenty-five years ago, the Filipino people were engaged in rebuilding democracy. Today, the Burmese people are doing the same. As they do so, they should take heart in what the Philippines has achieved over the past quarter century. President Cory Aquino led the resurgence of democracy; now President Benigno Aquino is working with the private sector to ensure a resurgent economy. This really is a great time to be in South-East Asia, and a great time to be in the Philippines. 

 

(Hugo Swire is UK Minister of State and Member of Parliament. Stephen Lillie will return next week.)

...the state of PH tennis

Huey: PH tennis on the upswing

By Marc Anthony Reyes
Philippine Daily Inquirer
Thursday, December 13th, 2012


TREAT Huey’s next focus is to put Philippine tennis back into the mainstream.

Treat Huey

Already the world’s No. 35 in doubles, the country’s Davis Cup star said he wants to see the Filipino netters get the same accolade as the country’s basketball, football and boxing stars.

And based on the success of the recent Philippine Columbian Association (PCA) Open, the 27-year-old lefty known for his cool demeanor, said PH tennis is on the right path.

“It’s been great. PCA is the biggest tournament here in the Philippines. Everybody coming back to play and having Johnny (Arcilla) and all the Davis Cup team here is good for Philippine tennis,” said Huey, who finished runner-up in doubles and reached the quarterfinals in singles last week.

“Trying to make tennis bigger and bigger in the Philippines is I think what we did this week. It was great and there were a lot of fans that came out,” he added.

Huey cited the help being provided by long-time patron Jean Henri Lhuillier, who supports the country’s Davis Cup campaigns and vows to once again bankroll the PH Cuppers stint against Syria in February in a Group 2 tie that is slated to be held here.

“Jean Henri and Cebuana Lhuillier helped me so much. He helped me in travelling and is supporting me. We want to make tennis more mainstream and we are trying to do that,” Huey added.

He noted that with the present crop of young players, the country has what it takes to shoot back into Group 1 and once again rule the Southeast Asian Games next year and even the Asian Games in 2014.

Huey, who is looking to break into the top 20 in doubles by yearend, is preparing with partner Dominic Inglot for the Australian Open in January.

...the 2013 PH bright economic prospect

Philippines faces bright economic prospects for 2013

 

By Doris C. Dumlao in Manila

Philippine Daily Inquirer

Asia News Network – Wed, Dec 12, 2012

Manila (Philippine Daily Inquirer/ANN) - The Philippines continued to generate positive economic forecasts from foreign institutions following a surprise third-quarter growth.

For this year, Citigroup raised its gross domestic product (GDP) growth forecast to 6.3 per cent from 5 per cent and to 6.1 per cent from 5.3 per cent in 2013, citing accelerated government spending and stable domestic demand.

British bank HSBC also revised its 2012 forecast to 6.2 per cent from 5.7 per cent although for 2013, the forecast was pared down to 4.9 per cent from 5.7 per cent given the continuing external headwinds.

Both Citi and HSBC expected the Bangko Sentral ng Pilipinas to keep its key interest rates on hold at 3.5 per cent for the next policy rate-setting.

Minda Olonan, head of Philippine equity research at Citi, said the Philippines would benefit from more pronounced growth drivers such as excise tax reforms, accelerated bidding of key public-private partnership (PPP) projects and a credit-rating upgrade. She said public infrastructure could be the medium-term "game changer".

"Better fiscal health is enabling the government to be more proactive in stimulating the economy. Aside from the PPP infrastructure agenda, the government is embarking on a 325-billion peso (US$7.9 billion) multi-year flood works and drainage programme, a spending that is larger than the 233-billion peso cost of the PPP projects. We believe this may lift the country's investment/GDP ratio that will eventually accelerate economic growth," she said in a December 7 research.

Citi believes that banks, property, consumer, utilities and conglomerates will benefit from the investment spending dividend. The bank's top picks on a 12-month view are Ayala Land, SM Investments, Philippine Long Distance Telephone Co., Ayala Corp. and Puregold Price Club Inc.

HSBC economist Trinh Nguyen said a major force behind this year's growth has been the country's strong institutions, specially the BSP.

"Monetary officials have alleviated price pressures by successfully sterilising capital inflows to contain money supply growth. Closely monitoring rice supply as well as bolstering food sufficiency policy has also helped," she said.

"A slowdown of inflation to 2.8 per cent year on year in November in spite of accelerating growth reflects the institution's sound management of the economy," Nguyen said, adding that benign inflation has given monetary officials the space to cut rates by 100 basis points in 2012.

But Nguyen said the BSP was not the only champion behind the country's strong performance.

 

"President Aquino's efforts to increase efficiency of fiscal spending and revenue collection gave the government the room necessary to counter-balance the global slump with increased expenditure. A look at the breakdown of growth shows that private consumption, government spending and investment have contributed to growth thus far in 2012," she said.

While external headwinds persist and likely drag down the Philippines' electronics exports, HSBC expects growth to remain robust in 2013 on the back of strong fiscal spending, low interest rates and resilient remittances.

She said monetary officials would likely hold rates at the next meeting to assess the impact of the recent acceleration in growth as well as the 100-basis-point cut so far this year. "Inflation will likely be benign in first half of 2013, thanks to contained food and oil prices, allowing the BSP to support growth," she said. "Though external conditions remain weak, strong domestic demand will keep the BSP vigilant and hold rates."

...the Miss PH Universe

PH Miss Universe 2012 Bet Shines In Pre-Pageant Q&A

 

Manila Bulletin

Tue, Dec 11, 2012

 

 

MANILA, Philippines - The finals night of the Miss Universe pageant this year will be held in Las Vegas, Nevada on Dec. 19 but Philippine bet Janine Tugonon seems to be shining already based on the dry-run of the final question-and-answer portion as seen in a pre-pageant video released online.

 

 

 

Her solo Q&A video, along with those of the other contestants', were posted by user OfficialMissUniverse on the social networking site YouTube on Dec. 8.

With the description: "Get to know the contestants of 2012 MISS UNIVERSE® Pageant," each contestant's video, where they are shown answering three questions, runs for more than a minute. As of this writing, Tugonon's video already has more than 130,000 views, far ahead of the rest of the contestants.

Wearing a leopard top, Tugonon was initially asked about her favorite holiday traditions.

"Our family tradition is very simple, very fun, happy, because the whole family gathers in our house and we will just gonna eat, gonna dance and gonna sing together," the 23-year-old Tugonon said, adding that she missed such gatherings a lot.

Described on her Miss Universe profile page as possessing an "adventurous spirit," the morena beauty also related her "most interesting dating experience" -- and that is riding a cab whose driver ended up almost shooting another driver following a chase.

Asked what she'd do a "crazy thing" if the "world was going to end tomorrow," she said, ""I'll probably eat a lot. If it's end of the world, I would probably just go out and eat with my family and the people I love."

So far, the Philippines has produced two Miss Universe titlists in Gloria Diaz (1969) and Margie Moran (1973).

...the IFC investments

IFC to invest $400 million in Phl

 

By Donnabelle L. Gatdula

The Philippine Star

December 10, 2012
 

MANILA, Philippines - The International Finance Corp. (IFC), the private sector financing arm of the World Bank group, is planning to invest up to $400 million in the Philippines in 2013, a top IFC official said.

 

This is higher than the $200 million to $300 million allocated for 2012.

 

In a chance interview, IFC resident representative to Manila Jesse Ang said the projected investment would go to financial and infrastructure programs and projects.

 

In the financial sector, he said IFC hopes to continue working with the banking sector.

 

“We will focus on financial sector so you’ll see us continue to work with the banking sector. We are looking at working on distressed assets, cleaning up their balance sheets. You know Basel 3 will happen in 2014, banks will need to look at what capital they need to raise,” he said.

 

He said at present, they are also finalizing the creation of a special purpose vehicle for the Planters Development Bank.

 

IFC has stakes in other financial institutions such as BDO Unibank Inc. and Rizal Commercial Banking Corp. Earlier, he said it is planning to increase its shareholdings in these two banks if opportunity arises.

On the infrastructure side, Ang said IFC would look at some projects in the Public-Private Partnership (PPP) program particularly those involving transport, tollroads, and water.

 

Ang earlier said they also have entered into advisory contracts with the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LBP) for their respective PPP programs.

He said they would continue to look for opportunities in the power sector, particularly in the renewable energy projects.

 

In agriculture, Ang said IFC is working with the government through the Department of Agriculture for the DA’s grain silo project.

...the PH growth forecast 2012 (UBS)

UBS raises 2012 growth forecast for PH economy

 

ABS-CBNnews.com

 12/10/2012

 

MANILA, Philippines - UBS AG raised its 2012 growth forecast for the Philippines to 6.3%, after a stronger-than-expected third quarter.

 

In a report, UBS economist Edward Teather said the Philippines' gross domestic product (GDP) may reach 6.3% by the end of 2012, above the bank's earlier forecast of 4.5 percent in April this year.

"The upward revision to second-quarter growth released along with the third-quarter GDP numbers does lead us to revise higher our 2012 forecast," Teather said.

The Philippines had revised its second-quarter growth from 5.9% to 6%. In the third quarter, the Philippines reported a 7.1% GDP growth, surprising many economists and analysts.

For 2013, UBS maintained the Philippines' GDP forecast at 4.5%. This is lower than the Philippine government’s official target of 6% to 7%.

"Our 2013 and 2014 real GDP projections are essentially unchanged because the surprisingly strong third-quarter expansion in real GDP of 7.1 percent on the year was largely because of a strong first-quarter and despite a sequential pace of expansion much closer the recent years," he said.

"We remain positive on the Philippine economy. A pick up in investment activity would be a plus for future growth. Also potentially positive are the government's reform efforts. We note the anti-corruption drive, a bill to raise (sin) taxes and the movement towards a peace deal in the southern Philippines."

...the UK's cake queens

Pinay duo's couture cakes win in UK baking contest

 

By Patrick Camara Ropeta,

ABS-CBN Europe News Bureau

12/10/2012

 

 

Christina Ong bagged bronze prize for a lace-inspired cake design/Patrick Ropeta

LONDON - Two Filipino bakers bagged the bronze and silver prizes at an international baking show with their luxurious and bespoke cake creations.

UK-based cake entrepreneurs Valeri Valeriano and Christina Ong won the awards for the multi-tier wedding cake category at the Cake International Show held at the NEC Birmingham in November.

Valeriano, who is from Manila, was given the silver prize for a stained glass cake design, while Ong, from Isabela, snatched bronze for a lace-inspired cake.

“It is just overwhelming. The competition displays were just across our stand and we could see everyone taking pictures of our cakes. The judges came back so many times to scrutinize our cakes, which were beside each other, and even the press were taking photos too. It was such a wonderful feeling,” recalled Valeriano, who attended the event with Ong to promote their joint baking business, Queen of Hearts Couture Cakes.

Ong added: “We were so busy talking to lots of people who came to our stand but when I saw the judges putting the decision cards on the winning entries, I dropped everything and ran towards our cakes. I was over the moon to see that we both have won. It is such an amazing feeling.”

The pair launched their very own cake service in June 2011, offering bespoke cakes and baking demonstrations to clients in the UK and beyond, specializing in the lost art of buttercream.

“Buttercream is made of butter and icing sugar. It’s very soft and it’s not easy to manage,” explained Valeriano, a self-taught baker who studied buttercream cakes through video tutorials on YouTube.

She continued: “We tried to have a little twist, because buttercream is usually known for simple flowers and swirls, very old school. We wanted to change it and show people that you can do something more with buttercream, and we gained popularity very quickly because of that.”

“We need to be different from the rest. Otherwise, we’ll be eaten alive by competition, especially in the UK where everyone is good at what they do,” said Ong, who is also a self-taught baker and cake designer.

She revealed: “We always have to stay one level ahead of everyone, and so we always aspire to do something that nobody has done before.”

Valeri Valeriano took silver prize for their signature stained glass cake/Patrick Ropeta

Starting from an experimental cake they intended as a gift for a friend on Mother’s Day in 2011, their baking and design skills quickly developed into a fully pledged start-up business.

“It was challenging at first, but it’s just like anything new. We had to learn everything rather quickly, and to top it all, we were doing it in a foreign land. We had to sell our concepts and make

demonstrations to foreigners. It was tricky at first, but we got through it,” recalled Valeriano.

Ong added: “When we started, no one was answering our emails, no one paid us any attention. We used to send letters to everybody, and we literally mean everybody, hundreds of people. We wanted to show what we can do and we even gave everything for free. But now people come to us and they even pay us. It’s a blessing and a bonus.”

The baking duo moved to the UK as nurses before discovering their talent for cake design through a “sweet accident.” They believe their “caring” background has helped them to drive the business forward.

“Our nursing background gave us the foundation and the patience. It’s the love and care. If you are looking after people you don’t know who are not related to you, but you need to have the passion and the love to take care of them. Same goes with the cake. At first it can be hard to handle, and if you don’t have the love, you will just give up,” Valeriano said.

The pair, has been long-time friends since a chance meeting at a restaurant in Manila, recently came back from the Philippines where they were commissioned to make a cake for a prominent commercial director.

“We’re really happy. It’s nice to wake up everyday reading good news about the business. We just can’t complain. It’s hard work but we’re happy,” said Ong.

Judges scrutinised every detail of the Filipino-made cakes from Queen of Hearts/Patrick Ropeta

On the secret of their success, Valeriano said: “Keep on innovating. If you started on something, say for example a business or a hobby or something, don’t just settle for what’s already there. Be resourceful, be more creative, appreciate the beauty around you, turn it into something, and just add a little bit of passion, patience and love. Put your heart into it and I’m sure you’ll succeed.”

The London-based Queen of Hearts Couture Cakes have been featured in numerous media outlets including Manila Bulletin and CNN iReport, as well as industry events like The National Wedding Show and Food Spectacular by Experimental Food Society, gaining an expanding client base around the world.

...the Pau International Filmfest Best Actress

Eugene Domingo is best actress

By Bayani San Diego Jr.
Philippine Daily Inquirer

December 10, 2012

 

Filipino actress Eugene Domingo wins best actress at the 3rd Pau International Film Festival held in France, for her work in Marlon Rivera’s “Ang Babae sa Septic Tank.”

MANILA, Philippines—Comedienne Eugene Domingo won best actress honors at the 3rd Pau International Film Festival held in France over the weekend for her work in Marlon Rivera’s “Ang Babae sa Septic Tank.”

 

Domingo attended the festival with producer Joji Alonso, who announced her achievement on Facebook.

Domingo received the trophy created by sculptor Chahab.

“Septic Tank” competed with films from Romania (“Best Intentions”), Russia (“Chapiteau-Show”), Japan (“Himizu”), Ukraine (“House with a Turret”) and Sweden-Denmark-France (“Play”).

According to an online report, the Pau fest’s goal is to “introduce politically engaged films” to the French audience.

Earlier this year, Domingo topped an online poll and won the best actress award (People’s Choice) at the 6th Asian Film Awards held in Hong Kong—also for “Septic Tank.”

She is one of the honorees in “Indie Bravo: 3rd Inquirer Indie Tribute” to be held Monday night at the paper’s Makati office.

...the PH in global radar

Nomura: PH back on global investment radar screens

‘Strong economic momentum to continue’

By Doris C. Dumlao
Philippine Daily Inquirer

Monday, December 10th, 2012

 

 

The Philippines is back on global radar screens for the first time since the mid-1990s due to its “compelling structural story” but the stock market is now “overpriced” relative to regional peers, Japanese investment banking group Nomura said.

“The economy is certainly in a sweet spot. Reform momentum in terms of improving competitiveness and reducing corruption has radically altered the macro-outlook. In addition, the Philippines has recently been utilizing new-found room for fiscal and monetary easing, further boosting activity,” said a Nomura equity research issued on Dec. 3.

The Asia-Pacific equity strategy report titled “A break in the overcast: Firmer demand, rising liquidity” said a number of clouds were lifting for the region, with US and Chinese political transitions complete, growth in both economies finally picking up (and in Asia more broadly), and Europe getting its ‘tail risks’ sorted.

Overall, the report said capital inflows to Asia have significant scope to accelerate in the months ahead, enticed by the demand recovery and expected appreciation of most Asian currencies—and fueled by both US Federal Reserves’ third phase of quantitative easing (QE3) and a sizeable shift out of low-yielding US treasury bonds.

But for the Philippines, the report said the valuation premium assumed a worsening environment in the rest of the region. Nomura said Philippine stock valuations were among the highest in the region, as market capitalization-to-GDP (gross domestic product) ratio was over 100 percent and credit spreads even lower than those in Thailand and Malaysia).

Given Nomura’s “generally opportunistic” medium-term view on equities, the Japanese firm recommended “underweight” positions (a suggestion to reduce exposure relative to the benchmark index) for emerging Southeast Asian markets in general, citing comparatively pricey valuations and the “defensive” characteristics inherent in these markets’ smaller size, low operating leverage and what it saw as a “typically more visible government propping-up of share prices.”

For 2013, the strong economic momentum is likely to continue, with Nomura economists looking for GDP growth at an above-potential 6 percent, driven by more progress in infrastructure projects under the public-private partnership (PPP) scheme and higher fiscal spending ahead of the mid-term elections in May 2013. Private consumption is also seen to remain robust, with resilient remittances and buoyant consumer sentiment.

Similar to several countries in the region, Nomura expects Philippine inflation to rise in the second half of 2013 to average at 4.4 percent for the whole of next year from 3.2 percent this year as demand-side pressures strengthen.

“While this is still within the Bangko Sentral ng Pilipinas’ (BSP) 3-5 percent target, risks are to the upside, in our view, with above-trend growth and measures pending such as legislation to increase taxes on ‘sin’ products (such as alcohol and tobacco),” the report said.

A likely slowdown in momentum by the second half of next year was seen making the Philippine market relatively unattractive, Nomura said. “Already large capital inflows are also a risk, with macro-prudential measures currently under consideration to curtail the rapid pace of foreign buying,” the research said.

But overall, Nomura said the Philippines scored well on each of what it saw as important drivers of medium-term emerging market equity performance—strong reform momentum, reducing cost of capital, strong foreign exchange fundamentals, structural productivity gains and positive foreign investor sentiment.

“After two years in office, President Aquino’s reform agenda continues to remain popular,” the report said, citing high satisfaction ratings on the government.

Nomura also favorably noted that the cost of capital had come down rapidly in the Philippines as rating agencies and foreign investors came to appreciate reduced risks and higher potential growth.

“Space on the foreign exchange front is also helpful. Moderately higher and stable inflation is probably one of the biggest sources of emerging market stock performance. Given the Philippine peso is still undervalued (by more than 25 percent as per IMF’s latest purchasing power parity calculations), we think it can likely withstand an extended period of relatively higher inflation without depreciating significantly. With a small funding gap in terms of balance of payments and external borrowing, the peso is also less vulnerable to external shocks,” the report said

...the EU's outlook

EU cites PH’s improved disaster preparedness

By Volt Contreras
Philippine Daily Inquirer

Sunday, December 9th, 2012

 

 

BRUSSELS—Despite the high death toll of Typhoon “Pablo,” the European Union’s coordinating body for humanitarian aid lauded the Philippines’ preparedness for the latest killer storm to hit the country.

Officials of the European Community Humanitarian Office (Echo) on Friday cited an improvement in the government’s response, noting that it “saved a lot of lives,” compared to what was seen a year ago when Tropical Storm “Sendong” devastated parts of Mindanao, also days before Christmas.

Echo officials in the Belgian capital, host city of EU institutions, also said a team from its Bangkok office flew to Davao on Friday to assess how it can help in the emergency relief effort. The team is expected to make a report to Brussels on Sunday.

“When ‘Bopha’ (the typhoon’s international name) or Pablo hit, I think the government was more prepared than it had been in the past,” said Jenny Correia Nunes, Echo’s team leader for Southeast Asia.

Nunes was referring mainly to the preemptive evacuation of residents in areas that were in Pablo’s path.

Dominique Gryn, Echo’s desk officer for the Philippines, added: “Today the technology is so sophisticated that we can actually predict very precisely when and where the landfall will hit. And in the Philippines we’ve seen that the preparations the government made in anticipation of the storm in Mindanao were extraordinary. And that saved a lot of lives in itself.”

“And we have a clear comparison that we can draw with last year’s ‘Washi’ (international name of Sendong) which hit very similar areas and the devastation caused was much larger. Of course we’re still seeing what the impact of Bopha is. We have to be careful not to underestimate the damage. But still, we can already say that the disaster awareness and preparedness had saved a lot of lives,” she added.

Asked how she could still make this positive assessment despite Pablo’s death toll climbing to over 300 and with about an equal number of people still missing as of Friday, Gryn explained:

“Yes, the death toll is rising, nobody is countering that. What we’re only saying now is that the government has taken certain measures that probably saved a lot of lives. We know this because a year ago the death toll was a lot higher.”

The United Nations had made a similar observation.

Gryn also said Echo’s partner nongovernmental organizations in the region had also “prepositioned” themselves before the storm made landfall in the areas expected to be hit, and had begun assessing where the EU could help.

She said the EU’s assistance could fill “gaps” in the government-led relief effort.

The Echo officials spoke in a briefing with Southeast Asian reporters who were in the Belgian capital on a EU-hosted press tour.

The EU poured in some 7.6 million euros to assist storm- or flood-affected people in the Philippines in 2011. This year, it released 700,000 euros for communities affected by the floods that hit Luzon in August.