...the rice that helps Bangladesh

Hybrid Variety From The Philippines Helps Bangladesh End Rice Imports

By Melody M. Aguiba

Manila Bulletin

February 15, 2013

 

 

A hybrid rice developed by a private company in the Philippines has captured 20 percent of Bangladesh’s hybrid rice market share, contributing to the latter’s non-importation of rice in 2013. Since the initial production of seeds in 2006, SL-8H seeds now occupy a significant share in Bangladesh’s hybrid rice seed supply, surpassing performance of imported seeds from China and India. “SL-8 is popular in Bangladesh. It is grown in hectares and hectares in Monipur Village, district of Jessore where some farmers who are dealers of the seeds have already become rich,” said Anwar Faruque, Bangladesh Ministry of Agriculture additional secretary.

Faruque and a team of Bangladesh seed experts just visited on February 4 and 5 the International Rice Research Institute in Los Baños. The commercialization of hybrid rice in itself took off in the Philippines in the last decade when the government, as part of Ginintuang Masaganang Ani (GMA) adopted hybrid rice as a flagship program. It was part of a rice self sufficiency aim at a time when the country’s rice production was just at the 11 to12 million metric tons (MT) level. The 2013 production was 18.03 million MT.

With SL-8H’s contribution, Bangladesh will stop rice importation this year. “The good news is we have 160 million population, and the land is decreasing. But we are self-sufficient in rice this year. We used to import half a million tons a year. This year, we won’t import,” said Faruque.

The hybrid rice sector in Bangladesh may be small compared to its 34 million MT yearly rice production. Its hybrid rice area as of 2012 was only around 600,000 hectares out of nearly 10 million hectares of rice area. At 10 MT per hectare yield, hybrid rice production totaled to 600 million MT, 18 percent of rice production.

Yet this is more than enough to wipe out the 500,000 MT yearly rice importation.

Even diplomatic relations between the Philippines and Bangladesh is being strengthened by this Philippine rice brand. This is because an estimated 300,000 farmers are benefiting from the Philippine rice brand. However, what is impressive to agriculture authorities of Bangladesh is not only the superior trait of SL-8H but the humanitarian terms for which it obtained the contract to plant the Filipino seed brand.  Although Bangladesh is nearer to India, being right northeast to it, or even China, it is only from the Philippines that it obtained this unique seed production scheme. “This is the only hybrid seed produced 100 percent in Bangladesh. Other companies import their seeds. We have a very good agreement with SL Agritech Corp.(SLAC). They provide all the technical support through Dr. (Weijun) Xu and Philippine scientists,” said Faruque.

The contract was between the government-owned Bangladesh Agricultural Development Corp. (BADC) and SLAC.

“The Philippines allowed us to grow the seed in Bangladesh under SL Agritech’s technical assistance. That is a mode suitable for the local growth of our hybrid rice,” said Faruque.

Bangladesh uses 60 hybrid rice varieties of which 50 are from China; three from India; four from the Bangladesh Rice Research Institute; and three from the private sector of which one is from the Philippines, SL-8H.

The success of Bangladesh, still a poverty-stricken country, can be attributed to how its government agencies aggressively promoted hybrid rice to its farmers for their own livelihood benefit.

“We now have a farmer, Ferdous, who receives lots of media personnel going to him interviewing him about his lifestyle. He’s now rich. He used to plant inbred rice. Some of our farmers were not so interested in cultivating rice. But after seeing SL-8, they have all become interested. Average yield of SL is 11 tons. Some even get 12 tons or more,” said Nuruzzaman, BADC director.
SL-8H performs exceptionally under Bangladesh soil condition, hitting an average yield of 11 MT per hectare.

“Its productivity is higher by at least 20 percent than any variety. Its life cycle is short, and grain quality is good than other hybrid rice. It’s easy to grow. No need to use more fertilizer or irrigation and the cooking quality is very good, said MD. Nuruzzaman, BADC director.

“Its taste is better than any other variety. It can tolerate some environmental stresses and salinity of up to four ds (desiSiemens per meter).”

 

...the American Idol season 12 hopefuls

3 Fil-Ams in 'American Idol' Top 40

 

ABS-CBNnews.com

02/15/2013

 

 

MANILA, Philippines -- Three Filipino-Americans made it to the Top 40 contestants in the 12th season of the popular reality singing contest "American Idol."

 

 

In the episode of "Idol" aired in the Philippines Friday, three Pinoy singing hopefuls landed a spot in the top 40 -- half Pinays Adriana Latonio and Jett Hermano, and half Pinoy Bryant Tadeo.

Along with the other top 40 contestants (20 males, 20 females), all three will proceed to compete in Las Vegas after the emotional Hollywood week.





A Hawaii native, Tadeo already auditioned for "Idol" last season but was cut during the Hollywood round.

Latonio, meanwhile, has a viral YouTube video of her singing Beyonce's "Love on Top." She also has a video singing “Almost Lover” where she accompanies herself on the piano.





Hermano, for her part, was raised in Seattle. In her official Facebook account, she revealed that she’s had formal voice lessons at the age of 10. Just like Latonio, Hermano can also play the piano, as well as the guitar.

Should any of three Fil-Am hopefuls advance in the top 20, he/she will be the latest in the growing list of Pinoy finalists in the American singing competition.

Jessica Sanchez, who staged her first solo concert in Manila on Thursday, is the fifth Filipino who made it as a finalist in "American Idol." She finished second to Season 11 winner Philip Philips.

Camille Velasco and Ramiele Malubay made it to the Top 9 on season 3 and 7, respectively. Jasmine Trias finished in the top 3 of Season 3, while Thia Megia was part of the Top 11 in the show's 10th season.

 

...the Asia's Next Top Model finalist

Pinay makes it to 'Asia's Next Top Model' finale

 

ABS-CBNnews.com

02/13/2013

 

 

Philippine contestant Stephanie Retuya in one of the photo shoots for "Asia's Next Top Model"

MANILA, Philippines – Philippine contestant Stephanie Retuya has made it to the Top 3 of the TV model search “Asia's Next Top Model,” which airs its finale on Sunday, February 17.

Retuya will be vying for the title – the first in Asia – against Jessica Amornkuldilok of Thailand and Kate Ma of Taiwan.





Stephanie Retuya, Philippines

 



Jessica Amornkuldilok, Thailand

Kate Ma, Taiwan

The Filipina is considered to be the underdog going into the finale since she has been in bottom two five times and hasn't won any best photo. She was only a runner up once.

In comparison, Amornkuldilok has won five best photos and four challenges, while Ma won two best photos.

However, a statement from the producers said Retuya “still has a fighting chance” as the finale includes a runway challenge in front of “America’s Next Top Model” host Tyra Banks. The catwalk is considered Retuya’s main strength.

Retuya is a part-time model and a full-time mother to a baby girl. She only started modeling about a year ago.

But her budding modeling career was interrupted when she got pregnant. Now, she feels “that surge of desire to continue pursuing what she believes is meant for her.”

Described as “very passive and shy,” Retuya grew up thinking she was “freakishly tall” and did not talk much to people. She said taking part in the reality TV contest is her dream, as she has never travelled outside of the Philippines.

The winner of the first-ever “Asia’s Next Top Model” will win a modelling contract covering UK and Europe with London-based Storm Models, which represented supermodels Kate Moss and Cindy Crawford. This also includes a three-month all-expenses working trip to London.

The winner also gets a cover shoot with Harper's Bazaar magazine, a contract to become the face of Canon Ixus 2013 campaign, a cash prize of S$100,000 and a new Subaru XV.

 

...the PH export growth 2012

Phl export growth in 2012 highest among East, SE Asian countries

 

 

 

By Jenny Red
Philippine Information Agency
Thursday 14th of February 2013


 

QUEZON CITY, Feb 14 (PIA) -- Filipinos have a lot to be proud of, one of which is that the country is out of the economic mire.

According to the National Economic and Development Authority (NEDA), the posted annual growth in merchandise exports of the Philippines in December 2012 was the highest among its trade-oriented neighbors in East and Southeast Asia.

“The country’s export performance in December 2012 reflects the generally improved prospects in the global economy on the back of policy support implemented by major economies, most notably of the Euro area, the United States, and Japan,” said Socioeconomic Planning Secretary Arsenio M. Balisacan as merchandise exports jumped by 16.5 percent in the said month.

Other Asian economies that recorded positive export growth in December 2012 include Hong Kong (14.8 percent), the People’s Republic of China (14.1 percent), Viet Nam (14.1 percent), Thailand (13.5 percent), and Taiwan (9.0 percent).

Export earnings, meanwhile, grew by 7.6 percent to $52 billion in 2012 as compared to $48.3 billion in 2011. Balisacan said, however, that this is below the Development Budget Coordination Committee-approved export growth assumption of 10.0 percent for the year.

The country’s total export earnings reached $4 billion in December 2012 from $3.4 billion in the same period in 2011 as outward shipments of manufactured goods (17.8 percent), total agro-based products (19.1 percent), petroleum (137.0 percent) and forest products (29.9 percent) posted annual gains.

The strong performance of manufactured exports was attributed to higher receipts from machinery and transport equipment (138.8 percent), electronic equipment and parts (52.4 percent), wood manufactures (51.3 percent), processed food and beverages (40.4 percent), chemicals (15.1 percent), travel goods and handbags (453.7 percent), miscellaneous manufactures (25.1 percent), baby carriage and toys (48.4 percent), furniture and fixtures (17.6 percent), basket work, wicker work and other articles of plaiting materials (56.1 percent), footwear (96.8 percent), and iron and steel (4.3 percent).

Meanwhile, total agro-based exports amounted to $379.8 million in December 2012, up by 19.1 percent from $318.8 million in December 2011. Similarly, petroleum exports grew by 137.0 percent in December 2012 to $95.1 million from $40.1 million in the same period in 2011.

Accounting for 18.0 percent of total export receipts is Japan which was the top destination of Philippine exports in December 2012. The US came in second with a 12.7 percent-share followed by the Republic of China (10.5 percent), Hong Kong SAR (9.6 percent), and Singapore (8.6 percent). (NEDA/RJB/JGR-PIA NCR)

...the Japanese profit center

PROFIT CENTER: Japanese businesses prefer PH

 

 

 

Malaya Business News Online

Published on Wednesday, 13 February 2013

 

A survey done by the Japan External Trade Organization (JETRO) Manila, showed that Japanese businessmen prefer doing business in the Philippines and has found the country, good profit center.

JETRO, a semi-governmental agency that promotes business between the Philippines and Japan, conducted the survey on Japanese-affiliated companies in Asia and Oceania from October to November 2012.

It compared business competitiveness of the Philippines against other Asian economies such as China, Myanmar, Indonesia, Thailand, Vietnam, Malaysia, and India. Comparison was made in terms of profitability, good management, and reasonable salary. It also showed why the Philippines is appreciated by Japanese businessmen.

The result shows that this year, the Philippines has again topped its competitors. The country has emerged as a profit center for Japanese companies after gaining the top spot for being the most profitable.

The Philippines and Indonesia has outdone their competitors in all industries with a total of 71.9 percent and 74.4 percent profitability, respectively. This result came about specifically because of the very promising performance of the Philippines in export-oriented business with a 72.4 percent profit as opposed to fifth-placed China’s 54.6 percent profit and India at the last with 55.3 percent revenue.

In terms of good management, the Philippines has also performed well.

The survey shows that the country has the least difficulty when it comes to recruiting general staff, having only a 4.3 percent rating, followed by Indonesia with 6.8 percent and Vietnam at third with 13.8 percent. China tops this category with a 35.5 percent rating, primarily because of the stricter working environment in China compared with the Philippines and other countries.

Another aspect where the Philippines fared well was the number of strikes and/or lockouts. The Philippines, compared with Vietnam and India, had the least number of strikes and/or lockouts from 2008 to 2011, with only two stoppages in 2011 as reported by the National Conciliation and Mediation Board. In comparison, Vietnam had 857 strikes, according to its Ministry of Labor, War Invalids & Social Affairs. A total of 389 for the same year was recorded in India, according to its Ministry of Labour & Employment, Labor Bureau.

The appreciation the Philippines gets from foreign investors and business ventures also came from the not so time-consuming customs and administrative procedures.

The survey shows that most Japanese companies found Thailand to be the least troublesome in time-consuming customs and administrative procedures with 24 percent and 20.6 percent ratings, respectively, while the Philippines came in second with 27.3 percent and 34.5 percent ratings, respectively. However, Myanmar with 55.6 percent and 85 percent ratings, respectively, found customs and administrative procedures most time-consuming.

PEZA, on the other hand, has played a vital role in providing assistance and smooth procedure in doing business resulting to the good ratings by the Japanese respondent companies in the Philippines.
The survey results highlighted once again the competitiveness of the Philippines in access to reasonable salary, attracting more foreign investors as it also means low financial costs. The country came out top in terms of salary base up rate as against the previous year’s 5.2 percent rating.

Malaysia came in close with 5.3 percent, while Vietnam ranked low with a 17.5 percent, and Indonesia with 17 percent, India with 11.8 percent, China with 9.4 percent, and Thailand with 6.5 percent.

In terms of annual salary, which is the total amount each employee received in a year, which includes the base salary, allowances, overtime incentives, bonuses, social security, and etc., the Philippines remained in the second lowest group. The Philippines placed in the middle with a $4,581 annual salary for manufacturing staff while China came with the highest labor cost at $6,734 and Vietnam the cheapest at only $2,602 annual salary.

The Philippines and Vietnam both had a cheaper labor cost in annual salary payout for manufacturing engineer with $7,636 and $5,441, respectively, as well as for the manufacturing manager with $17,498 and Vietnam giving $12,245.

Malaysia came in with the highest labor cost both for the manufacturing engineer and manager with $14,451 and $30,083 annual salaries. For non-manufacturing manager, Philippines and Vietnam remained with the cheap labor cost at $20,169 and $16,422, respectively.

Moreover, for non-manufacturing staff annual salary, the Philippines’s labor cost was 17.3 percent cheaper than India’s, the main reason why BPO companies shifted from India to the Philippines in 2011.

Furthermore, among the eight countries that were the subject of comparison in the survey, Japanese businesses in the Philippines came out to have the least challenges. It was shown that Japanese companies find difficulty in local procurement of raw materials and parts the most challenging with 67.7 percent. Furthermore, the survey result also depicted Filipino career perception of going abroad to work rather than stay as a lack of employee awareness of localization is also a challenge for these Japanese investors. On one hand, this still is a good performance for the Philippines as Japanese businesses in other countries had to deal with a lot more challenges such as wage increase and time-consuming administrative procedures.

On the business development plan, however, the Philippines landed last with a 48.2 percent rating for expansion plan, while India, Indonesia, and Vietnam emerged as the target domestic markets with 83.6 percent, 77.3 percent and 65.9 percent, respectively.

JETRO Manila received a total of nine investment missions, 168 persons and 1,572 visitors doing business in the Philippines, a 31 percent increase for 2012. Businessmen in Japan opted to look for a new business site abroad mainly because of the hardships that those companies encounter due to the strong yen, no flexibility on labor recruitment, high rate of corporate tax, severe condition of carbon dioxide emission, delay of Economic Partnership Agreement (EPA) negotiations and shortage of electricity due to the halting of Japan’s nuclear plants. Likewise, Japanese companies in Asia avoid the concentration of production base, or the so called “China +1”.

Needless to say, the good economic fundamentals that the Philippines enjoys have put a weight on how these Japanese companies see the country as an investment destination. As a commitment, JETRO will continue to promote investment missions and open the door for more investment opportunities all year around.

 

...the PH economic reputation

Investment grade status to cement Phl reputation

By Zinnia B. Dela Peña and Aurea Calica

The Philippine Star

February 14, 2013

 

 

 

MANILA, Philippines - Achieving investment grade status will cement the Philippines’ reputation as a major investment hub in Southeast Asia and bolster the country’s goal of moving into a virtuous cycle of sustained and inclusive growth, Budget Secretary Florencio B. Abad said yesterday.

During the Philippine Economic Briefing, Abad reiterated the government’s optimistic outlook on winning an investment grade rating this year on the back of a robust investor confidence, a resurgent domestic economy and continued commitment to good governance.

“We’ve already posted 11 favorable credit actions since the Aquino administration began its work of socio-economic reform, thanks to our strong economic fundamentals and robust fiscal management strategy, as well as our dedicated drive for improved governance. There is very little doubt that the country will soon reach investment grade, and we are determined to create an environment that will not only facilitate the upgrade, but will likewise ensure the sustainability and inclusiveness of the country’s growth,” Abad said.

Abad said an upgrade would result in greater private sector confidence in the country’s economic and political capacity and more jobs.

He also emphasized the role of public expenditure management in bolstering economic growth, saying spending for the year will be faster and more efficient as a result of the reforms implemented by the DBM, which include zero-base budgeting, bottom-up budgeting, and the disaggregation of lump sum funds.

“We are keenly anticipating a year of improved efficiency and transparency in the management of public funds, even as we align our budgetary priorities with President Aquino’s social contract with the Filipino people to ensure high-impact expenditures,” Abad said.

Abad also cited the government’s transition toward a regime where the General Appropriations Act will stand as the release document, thus discarding the circuitous process of requesting and approving fund releases across the year.

He said the DBM has also shortened the lifespan of appropriations to just one year, which will allow departments and agencies to make swift use of their available budgets and, ultimately, facilitate the quick and efficient delivery of goods and services to the public.

 

...the NEDA perspective

Better economy this year — Balisacan

 

SIEGFRID O. ALEGADO,

GMA News

February 13, 2013

 

The Philippines will likely post better gross domestic product (GDP) growth this quarter as the economy becomes more investment-driven, the country's top economist said Wednesday.

"We expect a faster pace this year and that the economy will become more investment-driven," Socioeconomic Planning Secretary Arsenio Balisacan told reporters in an ambush interview at the sidelines of the Philippine Economic Briefing.

 

 

Balisacan, who is also National Economic and Development Authority (NEDA) Director General, noted that the key drivers of the economy will remain private and public spending as well as the services sector on the back of a robust tourism and business process outsourcing sector.

"Consumption to continue fueling the expansion of the economy. We expect government spending, particularly infrastructure, as well as private investment will expand," he said.

"Services will also fuel the economy and tourism and BPO to further strengthen," the chief economist noted.

He, likewise, said "manufacturing pace will continue to gain momentum, coming from a good performance since the third quarter."

With a more robust manufacturing sector, Balisacan forecast that first quarter GDP growth will be faster than the 7.1 percent and 6.8 percent expansion posted in the third and fourth quarters respectively.

The inter-agency, policy-setting Development Budget Coordination Committee (DBCC) has targeted GDP growth at 6 to 7 percent in 2013.

Last year, the Philippine economy grew 6.6 percent, the fastest in Southeast Asia. — BM, GMA News

...the PH Math Olympiad medal harvests

PHL bags record 308 medals in intl science, math tilts

GMA News

February 13, 2013

 

Filma Brawner feted the students with the Youth Excellence in Science (YES) Award, for exemplary achievement in the fields of science and mathematics.

 

“(It is) never easy to compete with the best of other nations ... Let us prove to the world that we are achievers beyond competitions. You can do this by starting a pathway towards greatness in whatever science and technology field you may choose. Being YES Awardees mean that you are more than capable to do that and I really hope to see you make names for yourselves in the sciences,” said Brawner.
 

She also urged the awardees to maintain their thirst for excellence and said the DOST-SEI shall help them reach their potential.

 

 

The DOST noted this was the first time that the number of YES Awardees reached over 300. The previous high was 297 in 2009.
 

DOST Secretary Mario Montejo lauded the students for their feat - including 171 medalists from Metro Manila alone.

 

 

Fourteen students from Saint Jude Catholic School won 22 medals, while 14 students from Grace Christian College won 21 medals.
 

The students competed in contests in different countries such as Singapore, India, Romania, Malaysia, Argentina, Taiwan and China.
 

In his message, DOST Secretary Mario Montejo congratulated the awardees and expressed optimism in the students’ capability to contribute soon in the science community.
 

“I believe that our talent is far more sufficient to answer the needs of our people, be it of this generation or beyond,” said Montejo.
 

Meanwhile, undersecretary for science and technology services Fortunato dela Peña encouraged the students to help in boosting the country’s drive for more innovations.

 

 

“We believe that Filipinos can make good use of available knowledge, processes, and technologies into creating local innovations that will improve productivity of small and medium based industries, and resiliency of the general population against natural occurrences,” he said.
 

He cited the need for an elite group of scientists, engineers, robotics experts, mathematicians, physicists, and others "who could make science work for the benefit of the 100 million Filipinos.”
 

“That elite group needs you. And you belong in that class,” he said. — TJD, GMA News

 

 

...the Vesoul filmfest awardee

Bwakaw’ wins three awards in Vesoul int’l filmfest

By Bayani San Diego
Philippine Daily Inquirer

February 13, 2013

 

 

MANILA, Philippines—Jun Robles Lana’s “Bwakaw” won three awards at the 19th Vesoul International Film Festival of Asian Cinema held in France.

The film bagged the Emile Guimet award given by the Friends of the National Museum of Asian Arts of Paris.

“Bwakaw” also won the Grand Prix de Jury International and the High School Award, which is voted by students.

Written and directed by the much-awarded playwright-screenwriter Lana, “Bwakaw” tackles the story of a gay old man who lives alone with his pet dog.

Described a comedy-drama, it won the best actor award for veteran actor Eddie Garcia, audience choice and Netpac awards during last year’s Cinemalaya Independent Film Festival.

“Bwakaw” is topbilled by Garcia.

 

 

...the Filipina nurse in State of the Union address

Obama praises Filipina nurse in State of the Union address

 

abs-cbnnews.com

02/13/2013

 

 

First lady Michelle Obama is applauded by Menchu Sanchez (second from right) along with Dr. Jill Biden prior to U.S. President Barack Obama's State of the Union Speech on Capitol Hill in Washington, February 12, 2013. Photo by Jonathan Ernst, Reuters

MANILA, Philippines - US President Barack Obama praised a Filipina nurse, who is considered one of the heroes of the Hurricane Sandy disaster, in his State of the Union address before the joint session of Congress in Washington D.C., Tuesday evening (Wednesday morning, Manila time).

In his speech, Obama mentioned Menchu Sanchez, a nurse at New York University’s Langone Medical Center, as an example to all Americans.

"We were sent here to look out for our fellow Americans in the same way they look out for one another every single day, usually without fanfare all across the country. We should follow their example," he said.

"We should follow the example of a New York City nurse named Menchu Sanchez. When Hurricane Sandy plunged her hospital into darkness, she wasn't thinking about how her own home was faring.

Her mind was on the 20 precious newborns in her care and the rescue plan she devised that kept them all safe," the US president said.

Sanchez was seated between First Lady Michelle Obama and Jill Biden, wife of Vice President Joe Biden, during the State of the Union address.

When President Obama mentioned Sanchez, the First Lady was seen nudging Sanchez and smiling at her.

Sanchez was invited by Obama for her role in saving 20 at-risk infants during the Hurricane Sandy disaster that devastated large parts of New York and New Jersey last year.

She devised a plan to transport 20 at-risk infants at the Langone Medical Center to intensive care units around the city. She organized the nurses and doctors to carefully carry the babies down eight flights of stairs with only cell phones to light the way.

Even as her own home was flooding, Sanchez thought only of protecting the babies in her care, the White House said.

Sanchez was born, raised, and educated in the Philippines and she immigrated to the United States in the 1980s.
 
She has worked as a nurse in New York for more than 25 years, and has been at NYU since 2010.

Sanchez currently lives in New Jersey with her husband and two children, both of whom are in college. - With report from Rodney Jaleco, ABS-CBN News

 

...the lovers' paradise

Pinoys top global 'love ranking' - report

 

ABS-CBNnews.com

02/14/2013 

 

 

 MANILA, Philippines - Pinoys have been identified as the most emotional in the world, and now another survey said they are the ones who get the most love.

 

In keeping up with Valentine's Day, Bloomberg.com said the Philippines topped a Gallup survey of 136 countries which asked: "Did you experience love for a lot of the day yesterday?"

The following are where most of the respondents felt most loved:

1. Philippines - 93%
2. Rwanda - 92%
3. Puerto Rico - 90%
4. Hungary - 89%
5. Cyprus - 88%
6. Trinidad and Tobago - 88%
7. Paraguay - 87%
8. Lebanon - 86%
9. Costa Rica - 85%
10. Cambodia - 85%

Meanwhile, these are the countries that occupied the bottom of the list:

136. Armenia - 29%
135. Uzbekistan - 32%
134. Mongolia - 32%
133. Kyrgyzstan - 34%
132. Georgia - 43%
131. Belarus - 43%
130. Morocco - 43%
129. Kazakhstan - 45%
128. Moldova - 46%
127. Tajikistan - 47%

The Gallup survey was conducted in 2006 and 2007.

...the Korean apple of the eye

Philippines catches eye of S. Korea investors

Philippine Daily Inquirer

Tuesday, February 12th, 2013

 

 

More South Korean investors are expected to invest in the Philippines after a credit-rating firm based in Seoul upgraded its outlook on the country from “stable” to “positive.”

A positive outlook suggests a probability that the Philippines’ present credit rating of BB+, which is a notch just below investment grade, may be upgraded within the short term.

NICE Investors Service Co. Ltd. said that when it made the decision to revise its outlook on the Philippines, it took into account the government’s improving fiscal situation, the country’s rising reserves of foreign exchange, and strength of its economy.

The factors indicate that the Philippines has an improved capacity to settle its debts to foreign creditors, NICE said.

On the fiscal front, the recent implementation of the new Sin Tax law, which raised taxes on cigarettes and alcohol, reflected the Aquino administration’s commitment to shoring up revenue collection.

NICE likewise cited the strength of domestic demand in the Philippines that allows it to weather the problems of an ailing the global economy.

Domestic demand is being fueled partly by remittances from overseas Filipino workers and investments in the business process outsourcing (BPO) sector.

“Solid private consumption and BPO industry expansion have led service business-centered economic growth. Consumption based on remittances is robust enough to absorb external shocks to some extent,” NICE said in its report.

“Solid private consumption and BPO industry expansion have led service business-centered economic growth. Consumption based on remittances is robust enough to absorb external shocks to some extent,” NICE said in its report. Michelle V. Remo

...the next potential popes

Cardinal Tagle in Reuters list of potential popes

 

By Tom Heneghan, Religion Editor

published in abs-cbnnews.com

02/11/2013  

 

 

 

PARIS - With Pope Benedict's stunning announcement that he will resign later this month, the time may be coming for the Roman Catholic Church to elect its first non-European leader and it could be a Latin American.

The region already represents 42 percent of the world's 1.2 billion-strong Catholic population, the largest single block in the Church, compared to 25 percent in its European heartland.

After the Pole John Paul and German-born Benedict, the post once reserved for Italians is now open to all. Who gets the nod depends on the profile of the new pope that the cardinals who elect him at the next conclave think will guide the Church best.

Two senior Vatican officials recently dropped surprisingly clear hints about possible successors. The upshot of their remarks is that the next pope could well be from Latin America.

"I know a lot of bishops and cardinals from Latin America who could take responsibility for the universal Church," said Archbishop Gerhard Mueller, who now holds the pope's old post as head of the Congregation for the Doctrine of the Faith.

"The universal Church teaches that Christianity isn't centred on Europe," the German-born archbishop told Duesseldorf's Rheinische Post newspaper just before Christmas.

Swiss Cardinal Kurt Koch, head of the Vatican department for Christian unity, told the Tagesanzeiger daily in Zurich at the same time that the Church's future was not in Europe.

"It would be good if there were candidates from Africa or South America at the next conclave," he said, referring to the closed-door election in the Vatican's Sistine Chapel.

Asked if he would vote for a non-European over a European candidate if they were equally qualified, he responded: "Yes."

If the next conclave really is Latin America's turn, the leading candidates there seem to be Odilo Scherer, archbishop of the huge diocese of Sao Paolo, or the Italian-Argentine Leonardo Sandri, now heading the Vatican department for Eastern Churches.

Peter Turkson from Ghana, now head of the Vatican's justice and peace department, is often tipped as Africa's frontrunner.

About half the cardinals who can vote are from Europe, even though only a quarter of the world's Catholics live there. If the conclave tilts to the Old Continent, Vatican watchers say Angelo Scola of Milan is in pole position.

Vienna Cardinal Christoph Schoenborn, a former student and close ally of Benedict, is also considered a strong candidate.

FRONTRUNNERS FOR NOW

While there are no official candidates, here are "papabili" (potential popes) the most frequently mentioned recently. The list is in alphabetical, not in order of their chances, and will probably change between now and when the conclave is held, most likely in March.


- Joao Braz de Aviz (Brazil, 65) brought fresh air to the Vatican department for religious congregations when he took over in 2011. He supports the preference for the poor in Latin America's liberation theology, but not the excesses of its advocates. Possible drawbacks include his low profile.

- Timothy Dolan, (USA, 62) became the voice of U.S. Catholicism after being named archbishop of New York in 2009. His humour and dynamism have impressed the Vatican, where both are often missing. But cardinals are wary of a "superpower pope" and his back-slapping style may be too American for some.

- Marc Ouellet (Canada, 68) is effectively the Vatican's top staff director as head of the Congregation for Bishops. He once said becoming pope "would be a nightmare." Though well connected within the Curia, the widespread secularism of his native Quebec could work against him.

- Gianfranco Ravasi (Italy, 70) has been Vatican culture minister since 2007 and represents the Church to the worlds of art, science, culture and even to atheists. This profile could hurt him if cardinals decide they need an experienced pastor rather than another professor as pope.

 

- Leonardo Sandri (Argentina, 69) is a "transatlantic" figure born in Buenos Aires to Italian parents. He held the third-highest Vatican post as its chief of staff in 2000-2007. But he has no pastoral experience and his job overseeing eastern churches is not a power position in Rome.

- Odilo Pedro Scherer (Brazilia, 63) ranks as Latin America's strongest candidate. Archbishop of Sao Paolo, largest diocese in the largest Catholic country, he is conservative in his country but would rank as a moderate elsewhere. The rapid growth of Protestant churches in Brazil could count against him.

- Christoph Schoenborn (Austria, 67) is a former student of Pope Benedict with a pastoral touch the pontiff lacks. The Vienna archbishop has ranked as papal material since editing the Church catechism in the 1990s. But some cautious reform stands and strong dissent by some Austrian priests could hurt him.

- Angelo Scola (Italy, 71) is archbishop of Milan, a springboard to the papacy, and is many Italians' bet to win. An expert on bioethics, he also knows Islam as head of a foundation to promote Muslim-Christian understanding. His dense oratory could put off cardinals seeking a charismatic communicator.

- Luis Tagle (Philippines, 55) has a charisma often compared to that of the late Pope John Paul. He is also close to Pope Benedict after working with him at the International Theological Commission. While he has many fans, he only became a cardinal in 2012 and conclaves are wary of young candidates.

- Peter Turkson (Ghana, 64) is the top African candidate. Head of the Vatican justice and peace bureau, he is spokesman for the Church's social conscience and backs world financial reform. He showed a video criticising Muslims at a recent Vatican synod, raising doubts about how he sees Islam. (Additional reporting by Philip Pullella; Editing by Giles Elgood)

 

...the PH growth forecast 2013 (Global Source)

US think tank raises PH 2013 growth forecast

 

 

ABS-CBNnews.com

 02/11/13

 

 

MANILA, Philippines - A US-based think tank has raised its growth forecast for the Philippines this year, as it expects the economy to be fueled by higher government expenses, election-related spending and more private investments.

 

In a research note, Global Source said the Philippines' gross domestic product (GDP) may grow by 6.1% in 2013, higher than its previous estimate of only 5%.

"We hinge our higher-than-consensus growth forecast on the domestic macro policy environment continuing to be supportive particularly in terms of higher government spending, further expansions in private investments, and election spending aiding consumption growth," it said in the report.

However, the forecast for 2013 is lower than the Philippines' 6.6% GDP growth last year.

"We expect the pace of growth to slow a bit in 2013 as weak external growth and a strong local currency weigh down exports," the think tank said.

Global Source identified several factors that can drag down the Philippines' growth, such as deeper recession in Europe and sharper fiscal contraction in US, and China's failure to pick up the slack.

"Tensions in the Middle East may again flare up reversing the forecast downtrend in oil prices. Internally, remaining bureaucratic bottlenecks may again stall government spending keeping a lid on investment ratios and souring investor moods," it added.

The Philippines may need to rely on domestic sources of growth in the near term to offset these external shocks.

"The increasingly upbeat local mood suggests that private players are ready to act. Already, major companies active in the Philippine business scene are observed to be locking in cheap money of fairly long maturities (10 to 15 years) and keenly looking for expansion opportunities," Global Source said.

 

...the 2012's Deals of the Year

Euromoney cites PHL global peso bonds as one of 2012's Deals of the Year

GMA News

February 11, 2013

 

 

The Philippine global peso bonds launched last November was one of Euromoney's Deals of the year, a recognition that the Philippines is one of the safest emerging emerging markets for investors, the Department of Finance said Monday.

 

 

"We welcome this award as another vote of confidence in the Aquino administration's good governance reforms, and a continued nod at the effectiveness of our proactive liability management agenda," Finance Secretary Cesar Purisima noted in a statement.

The US SEC-registered bond offering was part of government efforts at managing Philippine foreign debt. Issued in peso, but redeemable in US dollars, the bonds helped reduce the foreign exchange risk in the country debt portfolio. — VS, GMA News

 

...the Asia's next Aerotropolis

Clark International Airport as Asia’s next ‘aerotropolis’

Published in Philippine Daily Inquirer

Monday, February 11th, 2013

Clark International Airport. INQUIRER FILE PHOTO

MANILA, Philippines–With the world’s economic center of gravity rapidly moving eastward, there is increasing urgency to develop Clark International Airport into an aviation hub, and this is the focus of a two-day conference to be held this month at the Clark Freeport Zone in Pampanga.

“The Case for Asia’s Next Aerotropolis” is the theme of the Clark Aviation Conference 2013, a trade gathering that will examine Clark’s compelling case as an aerotropolis, an idea in community planning where airports serve as the center for new cities growing around them.

The conference, being organized by Clark International Airport Corp (CIAC) in partnership with Global Gateway Logistics City, takes place Feb. 21-22, 2013, at the Widus Convention Center in Clark Freeport Zone. It coincides with the annual Hot Air Balloon Fiesta.

“The event will highlight Clark International Airport’s critical role in easing air traffic congestion in Manila and driving economic expansion in Central Luzon. It will also identify infrastructure and policy developments at Clark Freeport Zone that are designed to attract airport-related businesses and investments,” said CIAC president and CEO Victor Jose Luciano.

“More importantly, the conference is a call for the full development of Clark International Airport as an aviation nerve center in the light of the economic growth in Asia.”

Heads of government agencies—including Tourism Secretary Ramon Jimenez, Bases Conversion and Development Authority president Atty. Arnel Casanova and Trade Assistant Secretary Fe Agoncillo-Reyes—and private-sector representatives will look at Clark’s prospects as an aviation and investment destination in Asia, even as they examine pressing aviation and tourism concerns and propose sustainable and long-term solutions.

Keynote speaker is Greg Lindsay, the US-based co-author of the bestselling book, Aerotropolis, The Way We’ll Live Next. Other speakers include Tourism Undersecretary Daniel Corpuz, John Forbes of the Joint Foreign Chambers of Commerce, former Tourism Secretary Narzalina Lim, and Capt. Benjamin Solis, adviser of CIAC.

The convention targets international investors, logistics and supply chain executives, tourism stakeholders, airline officials, import and export managers, and members of the academe. They are expected to gain insights into Clark’s potentials as an aviation and investment destination in Asia and understand better its increasing role in national and regional development.

 

 

...the Jollibee country

How Jollibee beat McDonald's in the Philippines

 

by Cathy Rose A. Garcia,

ABS-CBNnews.com

02/11/2013

 

 

 

MANILA, Philippines - With over 2,000 branches around the country, there is bound to be a Jollibee anywhere you go in the Philippines.

 

Jollibee's continued success in the Philippines and the company's aggressive expansion overseas is making international headlines. Jollibee's Filipino-Chinese founder Tony Tan Caktiong is now on the cover of Forbes Asia's February issue.

Tan talked to Forbes Asia about how he started his business with an ice cream parlor and how his restaurant with a bumble bee mascot managed to beat American fastfood giant McDonald's in the Philippines.

After opening the ice cream parlors in 1978, Tan said he decided to shift from ice cream to hamburgers when he saw customers wanted sandwiches.

However, the entry of McDonald's in the Philippines in 1981 was a cause of concern for the fledgling fastfood chain.

Tan recalled how they went to the US to study McDonald's operations, and studied how Jollibee compared to the American fastfood chain.

"We found that they excelled over us in all aspects – except product taste... It suited Americans but not really Filipinos. Our (food) tends to be sweeter, more spices, more salty. We were lucky as it was not easy for them to change their product because of their global image," Tan told Forbes Asia.

Jollibee worked hard to compete with McDonald's, from advertising to stores to service.

And their hard work paid off. "We were surprised customers ranked us higher in courtesy and service style. Maybe they felt we were warmer? And then they liked our marketing, promotion and advertising better. And then customers kept just coming back," he said.

One advantage Jollibee had was offering hamburgers and other fastfood with a distinct Filipino flavor. For instance, Jolly Spaghetti has a sweet meat sauce with hotdog slices.

Eventually McDonald's took the cue from Jollibee and offered McSpaghetti and other similar products aimed at the Filipino market.

Forbes Asia said Jollibee now controls 18% of the market in Metro Manila, handily beating McDonald's which is said to only have 10% share of the market.

Jollibee now operates the country's largest food service, with a total of 2,040 stores as of end-September. The firm's stores include Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King.

For its foreign operations, the company has 541 stores as of end-September. Aside from the Jollibee foodchain, stores abroad include Yonghe King, Hong Zhuang Yuan, San Pin Wang, Red Ribbon, Chowking, and Chow Fun.

But what is the secret to Jollibee's phenomenal success?

"We keep things simple and fill a simple need: very tasty food at a reasonable price. To this day I repeat to my people what my father told me – you have to make sure your food tastes really good," Tan said.

 

...the resilient countries

RP Among ‘Resilient’ Countries – MasterCard

 

Manila Bulletin

11 February 2013



 

The Manila skyline at night. (Yen Baet)

 

The Philippines' robust economic growth has made it among the ''resilient'' countries in the Asia Pacific region and the Middle East, the worldwide survey revealed.

In its latest Insights Report, MasterCard survey revealed that the Philippines along with Japan and Hong Kong ranked highest on the index as ''relatively resilient.''

The MasterCard survey assesses the extent to which a slower growing global economy and specifically a slowdown in merchandise exports, will impact the resilience of consumer confidence in key markets in Asia Pacific and the Middle East.

Following the three nations are Singapore, Saudi Arabia and Kuwait. UAE was ranked lowest or ''very vulnerable.''

The index and its accompanying reports do not represent MasterCard's financial performance, the company said.

''Markets with the highest level of consumer confidence, as well as those that are most resilient to a slowdown in merchandise exports have the strongest potential to weather the economic downturn,'' MasterCard said.

''At the opposite end of the spectrum, markets with very low consumer confidence and those that are also most vulnerable to a slowdown in merchandise exports have the least potential,'' the company added.

Yuwa Hedrick-Wong, MasterCard global economic advisor and co-author of the report said the strong growth in global demand that they saw during the decade of 2000 to 2010 was unique in many ways.

Hedrink-Wong said this was underpinned by an unprecedented increase in global liquidity which provided a tremendous boost to the export-oriented economies in Asia/Pacific and Middle East.

''But growth in global demand will be a lot weaker than before. Putting it bluntly, a repeat performance is highly unlikely,'' he said.

For many markets in the Asia Pacific and the Middle East, especially the export-oriented ones, Hedrink-Wong said the outlook of a slower growing global economy will mean weaker demand for exports.

''Their ability to leverage domestic demand, especially private consumption, will be critical in supporting stronger economic growth. The extent to which they may succeed will in turn depend on how resilient consumer confidence is in these markets,'' he added.

The report, meanwhile, found Hong Kong, Indonesia, Thailand, Philippines, India and China to be well positioned with the strongest potential to leverage private domestic consumption to support economic growth.

 

 

...the PH stock market

PSEi breaches 6,500 level for the first time

 

ABS-CBNnews.com

02/11/2013

 

 

The PSEi has had 15 record highs so far this year.

 

 

MANILA, Philippines (3RD UPDATE) - The Philippine Stock Exchange index (PSEi) reached another milestone on Monday morning, breaching the 6,500 level for the first time.

The PSEi reached 6,500.08 up 0.64% or 41 points as of 10:30 a.m., amid a traditional Chinese lion dance performance on the trading floor to celebrate the Lunar New Year.

As of 12 noon, the main index pulled back, ending the morning session at 6,482.10, up 0.36% or 23 points.

However, the main index's rise has some wondering if it has risen too much too fast. The PSEi has had 15 record highs so far this year.

The PSEi has already hit the 6,500 level this month, when earlier online brokerage COL Financial's target was 6,500 by the end of this year.

COL Financial head of research April Lee Tan said investors looking for higher yields continue to turn to stocks as interest rates will likely remain low.

"If you look at it based on technicals, it does look like it did rise quite a bit too fast. There is reason to be concerned because of valuations. If we compare the PSEi's valuation today compared to the valuations in the past 10 years, we are really at the high end of the range. We're also trading at the highest valuations compared to our regional peers, relative to US and Europe. I guess the surprise is why hasn't it corrected. I think one of the reasons we have not corrected is significant liquidity flows.

We're seeing a continuation on the risk on trade," she told ANC.

Tan sees a correction in the market soon. "Maybe we will see a correction because people who made money could take profits but it's not going to be a reversal, but just a correction. We're seeing 6,100 as a support level, technically," she said. - With ANC

 

...the world's best island resorts

Amanpulo among travel website's best island resorts

 

Reuters

02/11/2013

 

 

LONDON, United Kingdom - Owning your own idyllic island may be out of reach financially, but online boutique hotel experts Mr & Mrs Smith have come up with 10 exotic locales where you can feel as though you're the king of your own small world.

 

Reuters has not endorsed this list:

1. Romantic retreats

Matangi Private Island Resort, Fiji Islands, Fiji

Go all Robinson Crusoe with a hint of romance at Matangi Private Island Resort in Fiji where some of the 12 villas nestle in the tops of the trees (others hug the golden beach). Add a serene seaside spa and some dreamy diving and you have all the elements for a chic castaway stay. You definitely won't need to fend for yourself though: the kitchen crew can pack a picnic basket for the two of you to enjoy on heavenly Horseshoe Bay.

2. Eco indulgence

Song Saa Private Island, Koh Rong Islands, Cambodia

Australians Rory and Melita Hunter built Song Saa Private Island in Cambodia both to sustain the local community and provide important reef restoration and education programmes. So far, so green. If you then imagine rustic bures with minimal luxury, you would be so, so wrong. Thatch and stone villas, all with private pools, are scattered over the water and in the jungle. And with just 27 on twin private isles, discretion is assured. Snorkel on the reef, have a seafood feast under the stars or let expert hands soothe you at Ila Spa Sanctuary.

3. Underwater adventure

Amanpulo, Pamalican Island, Philippines

Finding a secluded patch of pure white sand isn't hard at Amanpulo boutique hotel on private Pamalican Island. Of the 40 rooms and 11 villas, 29 are Beach Casitas just steps from the water where reefs harbour jewel-bright coral and flitting fish. Inspired? The on-site PADI dive centre offers introductory dives, certification courses and trips to nearby dive sites where you can spy stingrays, splash with sea turtles and even find Nemo. For those who like to combine water with other liquids, the Kawayan Bar is a pontoon where you can lounge with a cocktail between bouts of duck-diving.

4. Ultimate escape

Tikehau Pearl Beach Resort, Tuamotus, French Polynesia

Barefoot luxury doesn't come much better than this sun-kissed coral atoll, especially for those whose partners are obsessed with keeping in touch with work/friends/the rest of the world. At just-remote-enough, 37-room Tikehau Pearl Beach Resort in the Tuamotus the internet connection is sketchy. There'll be no excuses for not sprawling on the rose-pink sand, lounging by the lagoon at Tianoa Bar with a piña colada or gliding down the stairs of your Premium Overwater Bungalow into the warm, clear water. This being French Polynesia, the open-air Poreho Restaurant has a menu infused with Gallic classics and local specialties.

5. A-list antics

Parrot Cay by Como, Turks & Caicos, Caribbean

Maybe you'll spot Demi Moore downward dogging at the Shambala spa or Paul McCartney reading by the pool because celebrities love Parrot Cay by Como hotel in the Caribbean, the only property on a sprawling thousand-acre island. Even if you don't, you'll feel star struck at this elegant 70-room sanctuary where whitewashed villas have draped four-posters and the infinity pool's sunloungers overlook the beach. The ultimate in luxury though are the six Parrot Cay Estates, ranging from three to 11 bedrooms, situated away from the main resort and owned by the likes of Bruce Willis and Donna Karan.

6. Hiding out

Cayo Espanto, San Pedro, Belize

A tiny speck of land in the Caribbean Ocean off San Pedro is home to seven uber-private villas at Cayo Espanto retreat in Belize. Each is hidden within palm trees with a private pool (except Casa Ventana, which is set out at sea on its own pontoon), hammock for day-long siestas and a 'houseman' who can chase up just about anything your castaway heart desires. Chef Patrick Houghton is a genius with a culinary wish-list and meals can be served anywhere on the island, including secluded stretches of sand where you won't see a single soul.

7. Serenity-meets-sociability

Naladhu, South Malé Atoll, Maldives

One moment you want seclusion, the next to be entertained people-watching by the pool; if so, Naladhu hotel in the Maldives is for you, with just 19 villas with either a lagoon view or one of the ocean. All have a breezy Hamptons vibe, with semi-alfresco baths and private pools for solo splashing. Outside, relax in a shady beach cabana or dine à deux on the sand. Naladhu is one of several small islands owned by Anantara and, should you want to mingle, boat transfers head to nearby Anantara Dhigu and Veli, where a spa and eight restaurants beckon.

8. Nature lovers

Frégate Island Private, Seychelles

While all private isles boast sand and lapping tides, many are too small to give you a taste of the wild life. Not if you venture to Frégate Island Private in the Seychelles. This chunk of granite languishing in the Indian Ocean is craggy, covered in tropical vegetation and home to fabulous flora and fauna. When you tear yourself away from your private pool deck (there are just 17 villas), wander the island's seven sublime beaches or hike trails looking for ultra-rare magpie robins and the Aldabra giant tortoise. There's jaw-dropping diving, too, and Frégate has a PADI centre.

9. Civilised wilderness

Lizard Island, Great Barrier Reef, Australia

Leave your wallet and credit card in your room at Lizaru.s.d Island boutique hotel on the Great Barrier Reef. Here, almost everything from daiquiris on the deck at Osprey's to snorkelling gear for underwater safaris is included in room rates. Forty villas are dotted around the huge island which has 27 romantic beaches, offshore reefs and swaying eucalypts. Splodge by your private pool or ask the staff to pack a picnic basket, borrow a motorised dinghy and mask and snorkel, and head for a deserted beach for all sorts of cavorting. The spa and diving here are world-class, too.

10. Glamping it up

Amanwana, Moyo Island, Indonesia

Idyllic Amanwana hotel on Moyo Island is just a short flight from Bali but remote enough to feel as though you've travelled far, far away. Twenty glam safari-style tents - some nestled in the jungle, others by the shore for quick bed-to-beach dashes - have dark wood flooring, romantically netted beds and yards of white divans for the idle hours. Take time out to be handled with care at waterside Jungle Cove Spa. You can also get close to nature since Moyo is a reserve. Spot shy Rusa deer darting in the forest or mask up to snorkel with sea turtles.