...the NZ's major source of skilled migrants

Philippines Now Major Source of Skilled Migrates to NZ

Friday, 3 May 2013
Press Release: Immigration Placement Services
Immigration Placement Services Ltd– Press Release 


Filipinos have been migrating to New Zealand for the last 15 years and many New Zealand employers have become aware of their work ethics and skills. Many other countries around the world have been recruiting Filipinos for years because of their skills and their willingness to work in jobs that their local population has been unwilling to undertake. There is an increasing interest from New Zealand employers recently in hiring skilled migrant workers from the Philippines to fill the skills shortage in the local market. For some years many hundreds of dairy farm workers have been employed by New Zealand farmers if they have been unable to find suitable staff locally.

 Today the NZ dairy farming industry has become dependent on Filipino workers to provide the labour force to meet their requirements of this rapidly growing industry. Many of the Filipinos coming to NZ have previously been working on commercial dairy farms in the Middle East or Japan, and have settled as residents with their families.

Over 11 million Filipinos work outside the Philippines. They can be found working around the world. Many Middle Eastern countries are dependent on their Filipino guest workers to keep their economies growing, where they work under contract for a certain number of years. Employers have recognised their willingness to work, their cheerful dispositions, and their ability to pick up language and new skills. Before Filipinos can leave their country to work abroad they must obtain an Overseas Employment Certificate from the Philippines Overseas Employment Agency (POEA). Without this they cannot depart though many thousands do illegally out of desperation to find jobs abroad. The reason why the POEA requires this process is to ensure that workers going abroad have a genuine job offer and not subject to scams. The process requires employers to have their employment contracts examined and approved by the POEA, along with other under-takings before the workers they wish to hire will be issues their OECs. Why have so many Filipinos forced to work abroad, rather than in their own country? The main reason is the lack of job opportunities for Filipinos in the Philippines.

 Unlike most of the rest of Asia, the Philippines have been unable to attract overseas investment to finance the growth in manufacturing and jobs as elsewhere in Asia. Yet the Philippines are one of the richest countries in Asia, with many natural resources and a talented English-speaking work-force. Overseas investors have preferred other Asian countries for investment as a result of poor government policies, and less flexible labour laws, a weak and corrupt legal system, poor infrastructure and high electricity costs. (As recently pointed out in an IMF report).

Yet in recent years the country has benefited enormously from the remittances from their overseas workers (OFWS) – over $US20 billion is sent back into the country annually providing an inflow of capital to fiancé domestic growth. The No 1 earner of overseas currency is the remittances from OFWs. 

In spite of this, nearly a third of the population lives in poverty and wages in the Philippines remain low. While the economy is expected to grow 7% this year driven by a boom in property construction, the population is growing faster than new jobs are being created. As in the nineteenth century, when many migrated from the UK and Ireland to settle around the world, today Filipinos are likewise migrating around the world to seek better opportunities than can be obtained at home. Migration of Filipinos is likely to continue until structural changes are made to the Philippines economy to become competitive to investors with other Asian economies.

As the only New Zealand Company based in the Philippines (for the last five years) supplying skilled migrants to meet the skills shortage in New Zealand, Immigration Placement Services Ltd has helped settle many hundreds of Filipinos successfully in the country. Many of these have now bought their families to New Zealand and have since become permanent residents, contributing to our society.

 New Zealand is a preferred destination for Filipinos as Immigration policies allow for approved skilled migrants on a work visa to bring their partners and children, something that is not possible for many Filipinos working in many other countries.

Many Filipino children grew up not knowing their parents as one or both need to work abroad to provide for their children’s education and necessities in live. Filipinos have integrated into NZ society well. As English is widely spoken throughout the Philippines they have fitted into NZ society much better than other Asian ethic groups, and can now be found from one end of NZ to the other.

 

...the PH's stock market on the run

PSEi surges past 7,200 after PH's 2nd investment grade rating

 

by Kathleen A. Martin

ABS-CBNnews.com

05/03/2013

 

 

MANILA -- The Philippine Stock Exchange index ended Friday's morning trade above the 7,200-level, surging past said mark after the Philippines was awarded another investment grade rating Thursday afternoon.

PSEi gained 1.69% or 120.04 points to 7,213.46 as of 12:00 noon, while the broader all-shares index went up 1.47% or 65.21 points to 4,489.80.

The PSE index trekked to as high as 7,230.40 during morning's trade, shortly after the market opened.
All sub-indices were in the green, led by the holding firms which rose 2.41% or 153.85 points to 6,542.89.

Most traded stocks during the period were Alliance Global Group Inc. whose shares climbed 3.73% to P25 apiece and Philippine Long Distance Telephone Co. whose shares increased 0.65% to P3,100.

Shares of LT Group Inc. (+4.09%), Metropolitan Bank & Trust Co. (+2.57%) and Manila Electric Co. (+2.57%) were also among the most traded on Friday morning.

Standard & Poor's on Thursday upgraded the country's sovereign credit rating to BBB- from BB+ and gave it a stable outlook. The debt watcher cited the Philippines' improving external profile, decreasing reliance on foreign currency-denominated debt, and manageable inflation, among others, for the move.

This is the second investment-grade rating the country received after Fitch Ratings in March gave it a BBB- with a stable outlook.

 

...the PH's 2nd investment grade

S&P delivers PH's 2nd investment grade rating

 

by Kathleen A. Martin,

ABS-CBNnews.com

05/02/2013

 

 

 

"The upgrade on the Philippines reflects a strengthening external profile, moderating inflation, and the government's declining reliance on foreign currency debt" - Agost Bernard, S&P credit analyst

 

 

 

 

 

 

MANILA, Philippines  -- Standard & Poor's on Thursday awarded the Philippines an investment-grade rating, a month after another debt watcher upgraded the country to the much-coveted status.

In a statement, S&P said it has raised the country's sovereign credit rating to BBB- with a stable outlook from BB+ with a positive outlook.

"The upgrade on the Philippines reflects a strengthening external profile, moderating inflation, and the government's declining reliance on foreign currency debt," Agost Bernard, S&P credit analyst, said in a statement on Thursday.

"We expect the country to move into a near-balanced external position because of persistent current account surpluses, in which large net transfers from Filipinos working abroad more than offset ongoing trade deficits," he added.

S&P noted the present and previous administrations have improved the country's fiscal flexibility, decreased the share of foreign-currency debt, and deepened capital markets.

"The Philippines' improved inflation environment is also a rating support. Despite some shortcomings in monetary policy transmission, inflation is low and fairly stable, helped partly by currency appreciation," Bernard said.

But S&P stressed the country's low per capita GDP remains a rating constraint. Moreover, it pointed out the need for more infrastructure and restrictions on foreign ownership hamper economic growth.

"We may raise the ratings on evidence of government revenue reforms that facilitate needed improvements in physical and human capital, and institutional and structural reforms that boost private sector investment, including FDI," S&P said.

Ratings may be lowered, S&P warned, if the country's external performance weakens "significantly" or it fails to manage an expected surge in investments that may result in the overheating of the economy.

"We may also lower our ratings if problems at one of the large conglomerates impair investor confidence, or if political developments cause the government to veer from its commitment to improving governance," S&P said.

Fitch Ratings in March became the first debt watcher to give the country an investment grade rating, boosting business sentiment in the country.

Moody's Investors Service, meanwhile, currently rates the country a notch below investment grade at Ba1 with a stable outlook.

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. said this upgrade "undoubtedly cements the Philippines’ status as an economy with one of the brightest prospects globally."

"With our investment grade rating, we are more confident that these inflows, particularly of more FDIs (foreign direct investments), will swing towards increasing the country’s productive capacity, thereby generating more employment and higher incomes," Tetangco said.

Finance Secretary Cesar V. Purisima, for his part, said: "For now, we must redouble our efforts to remove the remaining constraints to our growth if we are to reach even greater heights. The Philippine Government will continue to focus on infrastructure development, on creating a larger fiscal space to support social investments, and on further opening up the economy."

'Upgrade shows PH is one of brightest economies in the world'

ABS-CBNnews.com

 5/02/2013

 

 

MANILA, Philippines - The Aquino administration welcomed the news of Standard & Poor's upgrade of the Philippines to investment grade rating, saying it is an affirmation of its good governance initiatives and the strength of the economy.

 

"We welcome the upgrade, not just as the latest institutional affirmation of the Aquino administration’s good governance initiatives: it also helps enable lower costs for borrowing, which equals lower costs for hospitals, schools, and other vital structural improvements for the benefit of our people. It is further indicative of sustained confidence in the Philippine economy," presidential spokesperson Edwin Lacierda said in a statement.

Bangko Sentral ng Pilipinas Governor Amando Tetangco said said the upgrade "undoubtedly cements the Philippines' status as an economy with one of the brightest prospects globally."

Tetangco assured the BSP will remain vigilant against risks associated particularly of more FDIs.

"With our investment grade rating, we are more confident that these inflows, particularly of more FDIs, will swing towards increasing the country's productive capacity, thereby generating more employment and higher incomes," he said.

S&P on Thursday upgraded the Philippines' long-term foreign currency issuer default rating by one notch to 'BBB-' from 'BB+' with a stable outlook. S&P's move follows Fitch Ratings, which was the first ratings agency to upgrade the Philippines to investment grade last March.

With an investment grade rating from two of the three major Western credit rating agencies, the government expects Moody's, which rates the Philippines below investment grade, to follow suit soon.

Finance Secretary Cesar Purisima said the investment grade rating is a "resounding vote of confidence on the Philippines" and "that our economy's underlying soundness is on par with countries rated investment grade or higher."

For his part, Budget Secretary Florencio Abad says, "S&P’s upgrade inspires us in the Aquino administration to sustain and even escalate the pursuit of reform, especially in improving the quality and impact of public spending, increasing revenue collections, as well as lowering the cost of doing business."

'Positive progress'

Trinh Nguyen, economist at HSBC in Hong Kong, said the upgrade reaffirms the positive progress of the Philippine government.

"Fiscal consolidation efforts as well as prudent management of the economy have kept debt at a sustainable level and inflation on target. With access to more stable and cheaper funding, the government can focus on improving the infrastructure and the business environment to better capitalize the country's demographic dividend," Nguyen said.

However, some economists warned the Bangko Sentral to be mindful of the risks and challenges from capital inflows.

Bernard Aw, economist at Forecast Pte in Singapore, said the Philippines needs to do more work, particularly in the area of reforms.

"We continue to believe that the government has to make greater efforts in terms of increasing the average income level, widening and increasing the revenue base, and improving governance.

 Meanwhile, the BSP has been mindful of the risks and challenges from capital inflows, and has taken several policy measures to stem strong inflows, including cutting the SDA rate by a cumulative 150 bps this year to encourage outflows and further liberalizing FX rules to improve access to dollar funding," Aw said.

Since the market has already priced in expectations of rating upgrades, Aw said the impact of the S&P action may not be as significant in terms of attracting greater capital inflows.

"Admittedly, the rating upgrade affirms the increasing attractiveness of the Philippines as an investment destination, and further puts pressure on Moody’s to join in," he said.

Eugene Leow, economist at DBS in Singapore, said more investors will have access to the Philippine market.

"Inflows have already been quite strong and are likely to remain a challenge for policy makers as foreign players become more aware of the Philippines as a viable investment destination," he said. - With a report from Reuters

 

...the kid from GenSan

Ellen DeGeneres invites GenSan kid to TV show

By Bayani San Diego Jr.
Philippine Daily Inquirer

May 1, 2013

 

 

MANILA, Philippines – After singers Arnel Pineda, Charice Pempengco and Zendee, yet another Filipino singer will soon make his worldwide debut on the popular US talk show “Ellen” if plans push through.

In her invitation aired on her talk show and posted on YouTube Wednesday, TV host-comedian Ellen DeGeneres announced that she was searching for a young singer from the Philippines: “I am looking for you. Please come here. I want you to sing for me and my friends. You are amazing.”

Screengrab from http://www.youtube.com

DeGeneres was impressed by the pint-sized Filipino performer who sang Luther Vandross’ “Dance With My Father” with the soulfulness of an adult R&B warbler: “How beautiful is that? Such soul in that little boy.”

The boy’s name is Aldrich Lloyd “LA” Talonding, a 14-year-old high school student from the Mindanao State University in General Santos City.

In the video, which went viral in a matter of days, LA was accompanied by his cousin and guitarist James Walter Bucong, a 18-year-old college student also from the Mindanao State University in General Santos City.

The Philippine Daily Inquirer caught up with the two while they were attending and performing at a Christian youth camp in General Santos City. Talonding’s parents are church pastors.

Talonding said the response to their video and the consequent invitation from the “Ellen” show was “overwhelming.”

“We didn’t expect all this,” Talonding said in a phone interview with the Inquirer.

“We only made the video for our friends,” Bucong recalled. “We didn’t plan or intend for it to go viral.”
“My cousin James’ sister Cherry posted it on Facebook and it spread quickly,” Talonding recounted.
Another cousin Sharla Talonding posted it on YouTube.

On YouTube, it has garnered 933,089 hits, since it was posted on April 21.

On Facebook, it has received 60,500 likes and shared 62,900 times and elicited 13,900 comments.

Had they known it would go viral, they would have made a better, more polished video, Bucong confessed sheepishly.

“We just shot it in the terrace of our home in Barangay (village) Labangal. You can even hear a rooster crowing at the end of the song,” Bucong remarked. “LA and I are neighbors.”

Bucong said that he hopes that their trip to the United States would push through. “Our papers are being processed now.”

Next week, the duo will fly to Manila, for a string of TV guestings.

It’s not Talonding’s first time in Manila.

“I once joined a children’s choir competition for the NAMCYA (National Music Competitions for Young Artists) in Manila. I was in Grade 6 then,” Talonding said.

Going to Hollywood, however, was a bit too big a concept for the kid to grasp as of now.

“If we will be given the chance to go to the US . . . that would be great. But I wouldn’t know where to go, which places to visit . . . I am not yet that familiar with the tourist spots in the US,” Talonding admitted.

Bucong said that another YouTube sensation, Zendee, helped “Ellen” producers get in touch with him and his cousin.

Zendee who had just released her debut CD (“I Believe”) under Warner Music Philippines since guesting on “Ellen” late last year, sent the kid’s video to the show’s staff.

“I’m glad they liked it,” Zendee said.”I just wanted to help the kid. He’s my kababayan. I’m also from GenSan. I thought LA and James were good.”

Bucong and Talonding are both grateful to Zendee.

“Thank you for inspiring us and encouraging us to pursue our love for music,” said Talonding.

 

...the UNESCO art contest winner

11-year-old Pinoy wins in UNESCO art contest

ANDREI MEDINA

GMA News

April 30, 2013

An 11-year-old Filipino boy from Navotas City won in the 2012 to 2013 United Nations Girls' Education Initiative (UNGEI) art contest that had over 800 entries.

 

 

Lord Ahzrin Bacalla and 14 others won in the UNGEI's contest participated by youths aged 18 below from the Asia-Pacific region, according to the UNGEI's website.

Bacalla's work was among the final 56 drawings presented for public viewing and voting by the UNGEI, a branch of the United Nations Educational, Scientific and Cultural Organization (UNESCO).

In a phone interview on Tuesday, Rowena Bacalla, Lord Ahzrin's mother, told GMA News Online that her son has been into drawing since she was at a young age.

“Bata pa mahilig na siya mag-drawing. Pinanglalaban din siya ng school niya sa drawing competition,” Rowena said.

Rowena mentioned that Bacalla recently graduated from Kapitbahayan Elementary school and is currently being trained by visual artist Fernando Sena under the Art Discovery and Learning Foundation.

Bacalla told GMA News Online that he wants to be a popular painter when he grows up.

“Idol ko po ang nagtuturo sa akin, si Mr. Fernando Sena,” he said, adding that he has loved drawing since he was in Grade 3.

When asked what he wanted to be aside from being a painter, Bacalla said he dreamt of being a chef even if he does not know how to cook at present.

He finds inspiration in his father, whom he said excels in cooking.

Gender equality

The contest, aimed at promoting gender equality, had the theme: “What can a teacher do to ensure girls and boys benefit equally from quality education?”

Bacalla's drawing depicted three smiling people, a boy, a girl, and a teacher wearing glasses.

The woman stood in the middle of the two children, with her hands placed on their shoulders, in a gesture that depicts guidance.

A logo of a book was placed below the woman. Her head contained a ball, pencil and teddy bear, among other symbols that represented growth, learning, and leisure of young children.

Behind the woman was a lighted wooden torch with two protruding arms acting as a balanced weighing scale that carried the Mars and Venus gender symbols.

Bacalla's and the others' drawings will be featured in notebook and lesson plan covers produced by UNGEI to be distributed in the Asia-Pacific by the end of May.

The youngest among winners was eight-year-old Yashwant. V from India while the eldest was 18-year-old Karau from Bhutan.

The winners, listed in alphabetical order by country name, are:

• Dipta, 12 years, Bangladesh
• Karau, 18 years, Bhutan
• Wing Sum, 16 years, China
• Yashwant. V, 8 years, India
• Nandarie Rahma, 10 years, Indonesia
• Katya, 10 years, Kazakhstan
• Saichai, 13 years, Lao PDR
• Wern Sze, 15 years, Malaysia
• Azha, 13 years, Maldives
• Ankit, 9 years, Nepal
• Zaigham Nisar, 11 years, Pakistan
• Lord Ahzrin, 11 years, Philippines
• Shanika Rangani, 16 years, Sri Lanka
• Pkamon, 17 years, Thailand, and
• Huyen, 13 years, Vietnam.

- VVP, GMA News

 

 

...the world's hottest stock markets

PH stock market is one of the world's 'hottest'

 

ABS-CBNnews.com

04/30/2013

 

 

MANILA, Philippines - The Philippine stock market is one of the "hottest" in the world so far this year, according to a CNN report.

On the CNN Money website, the Philippine Stock Exchange index (PSEi) was ranked the 5th "hottest" stock market in the world, after Kuwait, Argentina, United Arab Emirates and Japan.

The PSEi has rallied 20% so far this year, as it breached the 7,000 level for the first time ever. The main index has reached 27 new all-time highs so far this year.

Investors have flocked to the Philippines as the country earned its first ever investment grade credit rating from any ratings agency last March.

CNN Money quoted Ashraf Laidi, chief global strategist at City Index in London, as saying investors have been attracted to the Philippines "because it's shielded from the economic slowdown in China."
"The economy doesn't depend on exports to China like many other countries in the region... It's more tied to domestic consumption," Laidi said.

As of 12 noon Tuesday, the PSEi was up 0.46% to 7,060.81.

Barely four months after it first breached the 6,000 level, the PSEi breached the 7,000 level last April 22. Analysts and fund managers are betting the PSEi will continue to rise, driven by optimism on the Philippine economy and further cut in interest rate of special deposit accounts (SDA).

The Palace earlier said the PSEi's record highs is a "manifestation of continued confidence in the prospects of our economy, not only from the international community, but also from Filipinos who are raising their stake in our country’s success."

 

...the Asia's Rising Star

8% potential growth for PHL by 2016 – Moody’s Analytics

 

By Ma. Alaine P. Allanigue
Philippine Information Agency
Monday 29th of April 2013

 

QUEZON CITY, April 29 (PIA)--The Philippines economy has the potential to grow up to eight (8) percent in the coming years as seen by the Moody’s Analytics, a sister company of credit rating watchdog Moody’s Investor Service.

“We expect GDP growth to remain in the 6.5% to 7% range in 2013 and 2014, making the Philippines one of the world’s fastest-growing economies,” Glenn Levine, senior economist at Moody’s Analytics said in Philippines Outlook: Asia’s Rising Star.

According to Moody’s Analytics, growth would be sustained in 2013 through construction and business process outsourcing which is a big part of Philippines’ exports as well as the country’s demographics, “promising a growing workforce in coming years” as a third of Philippine population is less than 14 years old.

The anticorruption agenda of the Aquino administration and its reform programs had also improved business sentiment in the country, Moody Analytics said.

“The government’s 2011-2016 development plan provides a five-year blueprint for growth and development, providing transparency, predictability and accountability. The crackdown on corruption and encouragement of local and foreign investments, in particular, have worked well,” it said.

On the other hand, Moody’s Analytics also stated that the “biggest risk for Philippine investment is operational.”

It said that “if the government wants to attract more foreign investment, it must ease its restrictions on foreign ownership and streamline the rules for starting businesses, paying taxes, and dealing with workers,”.

Moody’s Analytics pointed out public investment only accounts for 2.75% of GDP, which is "far too low for a country at this stage of development."

There has been improvement in infrastructure according to Moody’s Analytics but the government will need to do more if it wants to sustain the growing performance of the country’s economy.

“If development and reform continue near their current pace, the Philippines’ potential rate of growth will rise towards 8 percent by 2016,” Moody’s Analytics added. (RJB/MAA/PIA-NCR)

 

...the robust growth of asian emerging economies

IMF sees robust growth for emerging Asian economies

 

By Prinz Magtulis

The Philippine Star

April 30, 2013

 

 

MANILA, Philippines - Emerging Asian economies are expected to post robust growth this year but are advised to boost technology and human capital to avoid falling into the “middle income trap,” the International Monetary Fund (IMF) said.

In its Asia-Pacific economic outlook released yesterday, the IMF projects emerging Asia – including the Philippines – to grow 7.2 percent this year, before slightly accelerating to 7.4 percent by 2014.

An emerging economy falls into a “middle income trap” if it suffers from “sustained growth slowdown” after years of fast growth.

Emerging Asia also includes China, India, Indonesia, Malaysia, Thailand and Vietnam.

The local economy, in particular, is seen to grow six percent this year and 5.5 percent next year as earlier projected by the IMF in its World Economic Outlook.

“A small, gradual pick-up in growth is expected to continue throughout 2013, underpinned by continued robust domestic demand and some modest strengthening in external demand,” the IMF said.

Economic expansion would be on the back of a strong labor force, record-low interest rates and contained inflation, it said. Capital inflows, triggered by investors fleeing developed markets, would also significantly contribute to the growth.

Inflows, the IMF said, could be channeled into equity and bond placements to boost private consumption, while foreign direct investments could buoy investments, especially in infrastructure.
The IMF also cited “more balanced” risks to the region’s bright prospects.

“The impact of external risks on Asia remains substantial. In the event of a severe global slowdown, capital inflow reversals and falling external demand would exert a powerful drag,” it said.

The report also said emerging economies are in danger if they fail to develop total productivity factor, which includes advances in technology and in human capital.

“In a nutshell, sound economic institutions as well as favorable demographics and trade structure can all reduce the likelihood of a growth slowdown,” the IMF said.

“By contrast, strong capital inflows as well as investment booms, while good for growth, also entail risks of bust further down the road, because boom-bust cycles can have long lasting adverse effects on living standards,” it added.

 

...the NZ's farm manager of the year

Filipino farm manager wins award in New Zealand

 

ABS-CBNnews.com

04/29/2013

 

 

MANILA, Philippines - A Filipino was named the Best Farm Manager of the Year from Otago during the Dairy Industry Awards last April 6.

Neil Molina, a farm manager at Concept Holding in Ranfurly, New Zealand, also received the AgITO Human Resources Management Award.

The awards are part of an annual search for farmers across New Zealand and at various levels of the dairy industry who excel.

Molina is employed by Greg and Kelly Kirkwood who have employed 13 Filipinos to take care of 2,300 heads of cattle.

As a farm manager, Molina helped maximize operations and upgraded farm efficiency.

"I am blessed to have very good and wonderful farm owners and dedicated and motivated farm workers and together we strive to make our farm as highly productive and efficient as possible. This award belongs to them," he said.

Molina, who formerly managed the Batangas Dairy Cooperative, was also featured in the cover of the Guide for Migrant Dairy Farm Workers produced by Immigration New Zealand last year.

Philippine Ambassador to New Zealand Virginia H. Benavidez congratulated Molina, saying he is an inspiration for many Filipinos working in the dairy sector of New Zealand.

"Whenever I visited dairy farms in the North and South Islands, the unanimous and heartwarming feedback gathered from farm owners, managers and officers of farmers’ organizations is that the Filipinos have changed the dynamics of the farms. Together with the other Filipinos in the dairy sector whose works and talents have been recognized in New Zealand, you continue to do our country and people proud," Benavidez said.

 

...the TIME's most influential people 2013

Sense and Science: The unsung Filipina who cured HIV

Michael L. Tan

GMA News

April 28, 2013

Pinay doctor part of US team that found cure for HIV. Dr. Katherine Luzuriaga, a Filipino-American pediatric immunologist, led a team that cured HIV in an infant in Mississippi, USA. She has cautiously pointed out that while this cure is unprecedented, it is only one case. It does, however, suggest that early and aggressive treatment of pediatric AIDS could result in a cure, without children having to take the drugs for the rest of their life. She and her colleagues were subsequently listed among Time's 100 Most Influential People in the World for 2013. University of Massachusetts Med School

Time Magazine’s 2013 listing of the 100 most influential people in the world included two Filipinos: President Benigno Aquino and Dr. Katherine Luzuriaga, a pediatric immunologist from the University of Massachusetts.

And yet, despite the groundbreaking impact of her work, she remains largely unacknowledged in her own country.

Luzuriaga —whose father is Filipino and who still does, in fact, speak Filipino— was part of an all-woman medical team acknowledged for the first cure of a baby with Human Immunodeficiency Virus (HIV), the cause of AIDS.

The cured baby was born in Mississippi more than two years ago to a mother who had HIV but was not diagnosed until she had gone into labor. The mother apparently did not have prenatal care because if she did, she would have been diagnosed early and given three drugs to prevent the fetus from being infected.

In this case, the child was first given the drugs 30 hours after she was born. Right before being given the medicines, the baby was tested for HIV, the results of which came back positive. Within the first month of therapy, tests could no longer find the virus. However, doctors kept the child on the drugs, standard practice in the United States and developed countries because of the possibility of reservoirs or “hideouts” for the virus that allow it to continue to replicate.

With time though, the mother began to become irregular with her hospital visits for her child. When the child was brought in for a check-up around the age of two, the mother admitted that the child had missing out on the drugs. Yet when tests were conducted, the child’s HIV levels still remained undetectable, which means a “functional cure”.

Luzuriaga herself explains the breakthrough in a brief interview:




The other two members of the team, Dr. Hannah Gay of the University of Mississippi and Dr. Deborah Persaud, a virologist at Johns Hopkins Children’s Center, were also included in Time’s 100.

A more detailed technical discussion with all three women physicians can be found here:



The child’s cure brings hopes into the rather bleak AIDS research front. HIV is a retrovirus and several anti-retroviral drugs have been developed over the last few years but these only slow down the replication of the virus. It does not cure AIDS and the expensive treatment has to be maintained for a lifetime. Efforts to develop a vaccine have been unsuccessful, the latest trial just halted this week after researchers reported the vaccine did not seem to be making a difference, and might even have led to an increase in the risk of infection.

Luzuriaga and her colleagues presented their case report at a conference last March, cautiously pointing out that while this cure is unprecedented, it is only one case. It does, however, suggest that early and aggressive treatment of pediatric AIDS could result in a cure, without children having to take the drugs for the rest of their life. Pediatric AIDS is still a major problem, with some 300,000 new infections each year in the world.

What struck me was that the local press initially only picked up on the president’s making it to the list. After the Time awards ceremony on April 23, there has been some, but, I feel, not enough, mention of Luzuriaga, who is acknowledged as one of the experts in the field of pediatric AIDS. She is also professor of pediatrics and molecular medicine at the University of Massachusetts, and directs the university’s Center for Clinical and Translational Medicine. (If you’re wondering, translational medicine involves linking research to actual applications in clinical practice.)

Even more importantly, the work of Luzuriaga and her two colleagues once again emphasize the contributions of women scientists, and how they remain all too invisible. — TJD, GMA News 

 

 

...the world's best performing currencies

Peso is 3rd best-performing currency globally

By Prinz Magtulis

The Philippine Star

April 28, 2013

 

MANILA, Philippines - The peso remains one of the world’s best performing currencies, debt watcher Standard & Poor’s Ratings Services (S&P) said Friday.

The local currency ranked third globally, appreciating 25 percent in real terms from March 2007 to March 2013, according to the S&P report.

Only the Chinese renminbi and Singapore dollar outperformed the peso. The two currencies have strengthened 29 percent and 26 percent, respectively, from their levels six years ago.

The performance was calculated using the real effective exchange rate (REER), which measures the inflation-adjusted value of currencies versus a basket of other units from trading partners.

“No single member of the 27-member European Union and only one of the 34-member Organization for Economic Cooperation and Development is among the top 10 most appreciated currencies,” S&P noted.

Behind the peso, the Australian dollar ranked fourth, rising 23 percent from its 2007 level. It was followed by the Brazilian real, Colombian peso and Peruvian nuevo sol, which rose 22 percent, 21 percent and 19 percent, respectively.

Rounding up the list was the Russian rubble, which firmed up 18 percent, and Saudi riyal and Venezuelan bolivar, which both appreciated 15 percent, the report stated.

According to the Bangko Sentral ng Pilipinas (BSP), the peso has strengthened 6.8 percent versus the greenback last year. It closed at 41.22 to a dollar last Friday, up four centavos from the previous day.
In real terms, the peso increased its value by 6.5 percent versus currencies of trading partners, according to the BSP. “The peso lost external competitiveness in 2012,” it said.

Concerns have been raised against the continued appreciation of the peso, especially on how it trims the value of dollar export earnings and remittances from overseas Filipinos.

The BSP, for its part, has implemented various macro-prudential measures to temper capital inflows causing the peso’s strong performance.

Among others, foreign funds were banned in parking at special deposit accounts (SDA) last July. Interest paid on SDA - money of banks and trust departments with the BSP - were also slashed by 150 basis points this year.

Foreign exchange rules were also further liberalized this month to encourage more outflows and balance the inflows to prevent pressure for the peso to rise.