...the Hero of Philanthropists

Meet PH's top philanthropists on Forbes Asia's list

 

ABS-CBNnews.com

Posted at 05/30/2013

 

 

Henry Sy, Sr., and John L. Gokongwei Jr. (Composite File Photo)

MANILA, Philippines - Four Filipinos, including two tycoons, a perfume manufacturer and an architect, landed on Forbes Asia magazine's list of top philanthropists in the region.
Henry Sy, Sr., the country's richest man, and John L. Gokongwei Jr. were included in the magazine's annual Heroes of Philanthropy list.


Top architect Felino "Jun" A. Palafox Jr. was also on the list, along with mass market perfume manufacturer Joel S. Cruz.

The 88-year-old Sy is the founder and chairman of the SM Group, whose businesses include shopping malls, condos, banks and department stores. Forbes Asia cited the tycoon for giving $7 million to De La Salle University to build an eco-friendly building for the school, and donating $112 million to an un-named foundation.

Gokongwei, who founded conglomerate JG Summit, is chairman of one of the Philippines' most endowed foundations - the Gokongwei Brothers Foundation. He started the foundation with his three brothers in 1992. In 2006, he gifted the foundation with half of his shares in JG Summit, a donation which is now worth more than $1 billion.

"The foundation is the conglomerate’s largest shareholder, with a 29.4% stake worth $2.3 billion. Disbursements are funded out of company dividends and are focused on education," Forbes Asia said.

Palafox, founder and managing partner of Palafox and Associates, was cited by Forbes Asia for donating the firm's services for the design of low-income housing developments. This includes a 12-hectare project for the Smokey Mountain dumpsite community in Manila.

"A former Catholic seminary student, (Palafox) gives money to a program helping needy churches and in the last 5 years, his firm has done pro bono architectural and interior design or master planning for 6 church-related projects," Forbes Asia said.

Cruz, 48, is the founder and CEO of Central Affirmative Co., which makes Aficionado Germany. Forbes Asia cited Cruz for making donations to help abandoned children, as well as elderly and disabled.

"Each year his company — the manufacturer of Aficionado Germany, the country’s leading mass market perfume brand — celebrates its anniversary by giving cash to charities and paying employees to volunteer for a day. Nicknamed the “Lord of Scents,” he plans to launch the Joel S. Cruz Aficionado Foundation in the next year," Forbes Asia said.

Forbes Asia's annual Heroes of Philanthropy list highlights 48 of the region's "most remarkable givers".

"The selections are subjective and we aimed for a mix of notable people and causes. We also try to identify new philanthropists each year and pick only true philanthropists who are giving their own money, not their company’s because donating shareholder funds isn’t charity. By calling attention to these charitable souls, we hope to encourage more giving," John Koppisch, Senior Editor, Forbes Asia, said in a statement.

Other noted philanthropists on Forbes Asia's list were India's biotech entrepreneur Kiran Mazumdar-Show; South Korean musician Cho Yong-pil; Chinese CEO Zhang Xin; Japanese talk show host Tetsuko Kuroyanagi; and Miss Universe Malaysia Deborah Henry.

The full list can be found in the June issue of Forbes Asia as well as at www.forbes.com/altruists

 

...the CNN's world's best beaches

3 PH beaches make it to CNN’s list of world’s best

By Philip C. Tubeza
Philippine Daily Inquirer

Thursday, May 30th, 2013

Kayaking is one of the many pleasures offered by El Nido Resorts, a cluster of four eco-resorts in Palawan, which won the prestigious Tourism for Tomorrow Award during the 13th annual World Travel and Tourism Council Global Summit in Abu Dhabi. CONTRIBUTED PHOTO

MANILA—The giant news organization CNN has included three Philippine beaches on its list of the best 100 beaches in the world.

The issuance of the list coincided with an announcent by the government that tourist arrivals in the country increased by 10 percent in the first four months of 2013.

The Atlanta-based cable news channel said Puka Beach in Boracay, El Nido in Palawan, and Palaui Island in Cagayan were among the best destinations for beach bums around the globe. It listed Palaui on No. 10, the only Southeast Asian beach in the Top 10.

Palaui Island

“Glorious white sands meet volcanic rocks and blue-green waters topside, while coral gardens and a rich marine reserve meet divers under the surface. Palaui is all about raw beauty,” CNN said of the island off the northeastern tip of Luzon.

“Treks to get there require battling thorny grass, muddy ground and a mangrove forest…. With no resorts or hotels, Palaui has only two real options: camping under the stars or home stays,” it added.

El Nido, which supposedly inspired author Alex Garland to write the novel “The Beach,” landed on No. 14, or five notches above Maya Bay in Ko Phi Phi, Thailand, where the novel’s movie adaptation starring Leonardo DiCaprio was filmed.

“El Nido is the gateway to adventure, ‘the last frontier’ of the Philippines, as it has been dubbed,” CNN said.

“Powder-fine beaches and gin-clear waters complement the stunning views of karst limestone formations, empty lagoons, marble cliffs, prehistoric caves and waterfalls,” it added.

CNN also noted that El Nido surrounding waters contain more than 50 species of coral and attract whales, whale sharks, sea cows, manta rays, dolphins and endangered turtles.

And while it has received flak recently for being overcrowded and for being a disappointment for some travel writers, Boracay island, particularly Puka Beach, still made it to No. 84.

Puka Beach

“Making a respectable claim to its ‘tropical paradise’ reputation, Boracay has powdery beaches, water sports and spas. Puka Beach is named for its Puka shells, meaning the sand here is coarse,” CNN said.

“Puka is the second-longest beach on Boracay and relatively empty most times, with no resorts and a limited number of restaurants,” it added.

International publications like Travel+Leisure Magazine and the New York Times earlier named the Philippines among the hottest tourism destinations for 2013.

On Thursday, the Department of Tourism said foreign visitor arrivals during the first four months of 2013 reached 1,649,458 million, or a 10.12 percent increase from the same period in 2012.

“The first four months represent 30 percent of the target arrivals for 2013, with the month of January yielding the largest volume of 436,079 visitors and February generating the highest growth of 15.52 percent,” the DOT said.

For the first four months of the year, South Korea contributed the largest arrivals with 406,595 visitors, keeping its undisputed pole position with the biggest market share of 24.65 percent of total inbound traffic and a double-digit growth of 23.08 percent.

The DOT said the United States came in as the second biggest source market with 246,011 visitors or a share of 14.91 percent.

“Japan is third with 148,950 or 9.03 percent of the overall visitor volume. China has kept its position as the fourth biggest market with 132,307 or an 8.02 percent share. Australia is fifth with 72,015 arrivals, constituting 4.37 percent of the total visitor count,” the DOT said.

Arrivals from Taiwan declined by 8.3 percent with 68,654 visitors and this was before public anger in Taiwan over the killing of a Taiwanese fisherman by members of the Philippine Coast Guard.

The other top tourism markets for the Philippines were Singapore with 55,096 (15.90 percent); Canada with 50,352 (4.25 percent); Hong Kong with 45,734 (12.87 percent); United Kingdom with 43,055 (3.10 percent); Malaysia with 35,069 (8.36 percent); and Germany with 28,799 (9.16 percent).

Other markets that registered double-digit gains included Russia (30.33 percent), India (23.13 percent), and France (20.10 percent).

“This growth is an affirmation of our various marketing and destination development activities, strengthened by partnerships with the various stakeholders. While the upsurge may primarily be attributed to the summer season, it is also a clear indication that the nation has galvanized its reputation as an attractive destination,” said Tourism Secretary Ramon R. Jimenez, Jr.

“We have been seeing a sustainable increase in arrivals since last year. This building enthusiasm for the Philippines, aided by our government’s good governance agenda, gives us the confidence to achieve our target of 10 million tourist arrivals by 2016,” he added.

 

...the PH Q1 growth

PH economy grows 7.8 pct in Q1; highest in Asia

 

by Kathleen A. Martin,

ABS-CBNnews.com

05/30/2013

 

 

 

MANILA, Philippines (4th UPDATE) - The Philippine economy grew by an "impressive" 7.8% in the first quarter on higher consumption, manufacturing and government spending, according to the National Statistical Coordination Board (NSCB).

This is faster than last year's 6.5% growth and the previous quarter's revised 7.1% expansion.

Socioeconomic Planning Secretary Arsenio Balisacan said the figure is the highest so far among the major East and Southeast Asian economies, particularly Indonesia, Thailand, Vietnam and China.
In the first quarter, Indonesia grew by 6%, Thailand by 5.7%, Vietnam by 4.9 and China by 7.7%.

"This growth rate of 7.8 percent exceeded market forecasts, including my own... This growth figure is significant since it puts to rest the doubts cast on the 2012 figure as being due to base effects only. It also indicates to us that we may now be moving along a new growth trajectory," Balisacan said.

Moreover, the 7.8% growth is the highest so far under President Aquino's administration.

The stellar growth that beat market forecasts was driven by the strong performance of the manufacturing and construction segments which buoyed the industry sector's at 10.9%, NSCB Secretary General Jose Ramon Albert said.

Baliscan noted the manufacturing sector contributed the most to the growth in industry, offsetting the drop in exports.

"I am proud to say, that despite the contraction of 8.4 percent in our goods exports, local manufacturing has grown at an impressive rate of 9.7 percent, primarily from what can only be deduced as a heightened domestic demand," he said.

Balisacan noted the construction sector's 32.5 percent growth also "indicates a good positioning towards an industry-led economy."

"The sector has been increasing rapidly with double digit growth rates since the second quarter of 2012. Initially, this was led by infrastructure spending of the government. By the second half of 2012, private construction started to rebound," he said.

At the same time, continued rise in consumer and government spending, sustained growth in the services sector at 7%, and a 3.3% expansion in the agriculture sector all contributed to the growth, Albert said.

The NSCB stressed this is the highest quarterly GDP growth since the second quarter of 2010.
The government still hopes to grow the economy by 6% to 7% this year, as Balisacan noted the first quarter GDP figure would be considered once the targets are under review.

"We remain vigilant of downside risks. Disasters can negate the gains and even push back development. Moreover, the global economy remains fragile, negatively affecting our trade performance. Due to the attractive investment opportunities, we are also at risk of receiving too much capital inflows as advanced economies implement quantitative easing. The challenge is to channel these inflows into productive investments," Balisacan said.

A Reuters survey of economists had earlier placed the first quarter GDP number at 6.1%, while Bloomberg projected 6%. Both are slower than the fourth quarter last year.

Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo on Wednesday said the first quarter growth was expected to be "impressive", as suggested by various demand indicators.

On Wednesday night, the NSCB revised the 2012 GDP growth to 6.8% from an earlier 6.6%, after the fourth quarter GDP figure was hiked to 7.1% from 6.8%.

Meanwhile, markets' reaction to the data was mixed. The peso was off early lows and was quoted at 42.35 per dollar at 0216 GMT from a low of around 42.515 in early deals. But the Philippine stock market was down around 1 percent.

Economists said the central bank would most likely leave its key overnight borrowing rate on hold for the rest of the year, with inflation forecast to stay within the central bank's 3 to 5 percent target band this year despite strong growth.

The central bank next meets to review policy on June 13. It has kept its policy rate steady at a record low of 3.5 percent since December 2012, but has slashed the rate on its special deposit account (SDA) facility by more than 200 basis points since July 2012 to divert credit to more productive use.

"We think the BSP (Bangko Sentral ng Pilipinas) will continue to cut the SDA rate to lift domestic spending as well as save costs," said Trinh Nguyen, economist at HSBC in Hong Kong.

With the outlook on exports still murky, domestic consumption will remain as the main driver for economic growth this year.

Domestic demand is seen holding up well in 2013, underpinned by strong remittances, low inflation and record-low borrowing costs.

Economists forecast full-year 2013 growth of 6.2 percent, slower from the previous year but better than the 5.9 percent estimate in a Reuters quarterly poll in April. -- with Karen Lema, Reuters

 

...the brightest in Asia

Philippines called  "brightest" in Southeast Asia

 



Philippine Star

28 May 2013

Photo shows the Makati City skyline during sunset. ANDY ENERO



 

MANILA, Philippines - A report by the Institute of Chartered Accountants in England and Wales (ICAEW) said the Philippines is significantly contributing to the "glowing" Southeast Asian region with its bright economic prospects.

"The Philippines is the brightest spark in glowing Asean region," the report said, citing the recent quarterly review Economic Insight: South East Asia by its partner organization Cebr that highlights Indonesia, Malaysia, the Philippines, Singapore and Thailand.

ICAEW said that the "very positive" outlook for the country which is expected to grow 5.1 percent in GDP this year and in 2014 can be attributed to strong exports, "booming" household expenditures and the government's heavy infrastructure investments.

"The country looks set to shake off its former reputation as the ‘sick man of Asia’," Cebr's macroeconomics head Charles Davis said in a statement.

Davis said, however, that the country's capacity constraints will likely lead to a slowdown in growth, which is seen to fall to 4.5 percent in 2015. Such constraints cause higher inflation and tighter monetary policy.

Furthermore, the growth in stock prices in the Philippines--currently at 34 percent--is seen unsustainable and suggests a bubble to emerge, Davis warned.

“Stagnation in industrialized nations means investors are turning to emerging economies in search of higher yield,” Davis, also an economic advisor at ICAEW, said.

ICAEW South East Asia director Mark Billington, meanwhile, added that the Philippines' emergence in the region can be maintained through the management of its currently increasing credit levels taken on by firms and households.

"Debt levels in the region remain manageable for as long as the projected positive growth story remains. This is fine for now but would be a cause of concern if credit growth continues to outpace nominal GDP growth at the same rates we see today," Billington said.

Still, such scenarios are not as bleak compared to the country's larger prospects including its strong market investment matched with the higher credit levels, the report said.

“Growth outlook for both Philippines and ASEAN as a whole remains healthy. However careful judgment will be needed to ensure that credit growth and capital inflows are used to lay the foundation for future prosperity and not fuel a bubble,” Billington said.

The quarterly report provides the organization's 140,000 members with an overview of the region's economic performance.

...the most photogenic places in PH

The most photogenic places in the Philippines



By Karla Rey for Yahoo! Southeast Asia
All photos by Angel Juarez


Travelling the Philippines with your point-and-shoot camera? Fret not. Angel Juarez, the traveller behind the award-winning blog, www.lakwatsero.com, names his top spots for capturing amazing photos. No high-end DSLRs and powerful lenses nor Photoshop necessary!

Batad's Amphitheatre Rice Terraces
The elegant amphitheatre-like Rice Terraces of Batad in Banaue, Ifugao produces awe-inspiring shots in every angle. A UNESCO World Heritage Site, it is considered as the most beautiful of all the rice terraces in Banaue. The best time to see it is during summer, from March to early May, when the rice terraces are at its greenest.

Calaguas' Powdery Sand BeachKnown as "Mahabang Buhangin" (Long Sand) in the Calaguas Group of Islands off the coast of Camarines Norte, the wide stretch of fine white sand that gently slopes into the crystal clear water is a sight to behold. Generally unspoiled and deserted, Mahabang Buhangin is a picture of a perfect beach. Juarez says, “Going there may be an adventure, but a truly worthy one.”

Cordillera's Sea of CloudsOne of Cordillera's prides, the famous sea of clouds is one that guarantees a postcard perfect image of the highlands. Juarez shares, “Be in the summit of Mt. Pulag or in Sagada's Kiltepan's View Deck before sunrise to capture the sun as it slowly rise in the horizon of clouds and you'll end up having amazing photos that others will surely envy"
 

Boracay's Seascape at SundownThe idyllic scene of the silhouettes of the local sailing boats called " paraws" in the foreground of the golden sunset in the horizon of the world famous Boracay Island is always a stunner. “Make sure to be in the Stations 1 or 2 before sundown, and wait patiently for the golden hour to capture a thought evoking composition of Boracay sunset,” advises Juarez. While you are at it, you can also enjoy the happy hour that begins right about the same time.

 

Bislig's Tinuy-an FallsThis massive waterfall of Tinuy-an in Bislig, Surigao del Norte is dubbed as the "Niagara Falls of the Philippines." It may not be as massive as Niagara Falls but Tinuy-an Falls is among the widest waterfalls in the country. The striking beauty and grandeur you see in person registers well into stills. “What you see, is what you get,” says Juarez.

 

Coron's Kayangan Cove
Perhaps the most photographed spot in Coron—calm turquoise waters with a limestone island in the centre guarantees an amazing output whatever camera (or smartphone) you use. Just be careful when you need to go down to the lake below as the rocks and the trail can be slippery. But the trek reveals a beautiful freshwater lake cocooned by the limestones from the sea.

 

El Nido's Karst Limestone Cliffs
The karst limestone cliffs and islets that dot Bacuit Bay create the most fascinating, picture-perfect features of El Nido in Northern Palawan. Juarez says, “During dry months, from February to May, the place turns into a surreal scenery of natural beauty with the limestone cliffs, turquoise waters, blue skies and pearl white cotton clouds that paint an enchanting image of paradise. Truly beyond compare!”

 

Camiguin's SandbarNo shot can ever go wrong with the white sandbar of Camiguin and Mt. Hibok-Hibok in the backdrop. “The dramatic blend of the disappearing sandbar and a mighty volcano always produces a captivating image of Camiguin like those we always see in postcards.”

 

Century-old Churches of Ilocos
Ilocos Province is one of the places in the Philippines that has successfully preserved its heritage including the century-old churches and bell towers. Some of the popular churches in the area are that of Sta. Maria, Bantay, Vigan, Bacarra and Laoag. But the most striking of all is the St. Augustine Church of Paoay, one of the Baroque Churches of the Philippines inscribed in UNESCO’s World Heritage Site list. “Every image of Paoay Church becomes special because of its imposing beauty and charm.”

 

Manila at twilight
The image of Manila at twilight is a picture that may sound cliché but will surely gather “likes.” Where’s a good spot to get the lovely Manila Bay sunset? By the Manila Yacht Club area, where sailboats provide a foreground to the setting sun. You can also catch a classic image of the city along Roxas Boulevard at sundown

 

...the PH stellar economic performance

PH five places up in global competitiveness rank

 

 

By Kim Arveen Patria

Yahoo! Southeast Asia Newsroom

30 May 2013

 

NPPA - Flags are seen waving in front of the Department of Affairs in Pasay City, south of Manila, on 2 May 2013, as the nation marks the first day of the celebration of the Philippine National Flag Day. The …more celebration lasts until June 12, Philippine Independence Day, and Filipinos are encouraged to display the Philippine flag in all establishments/residents. (George Calvelo/NPPA Images)

Its stellar economic performance and improved business efficiency pushed the Philippines five places up a global competitiveness list this year.

The Philippines moved to ranking 38th of 59 countries in the 2013 World Competitiveness Yearbook (WCY) from being 43rd of 59 in the previous list.

This makes the country the 11th most competitive among the Asia-Pacific countries in the WCY, edging out India and Indonesia.

The Philippines posted improvements in three out of the report's four competitiveness measures namely economic performance, government efficiency, business efficiency and infrastructure.

It showed the most progress in economic performance, where it jumped 11 places to 31st from 42nd.

"This is backed by the 6.6 percent real GDP (gross domestic product) growth in 2012, the second highest in WCY," said a statement released by the Asian Institute of Management Policy Center.

The AIM Policy Center in Manila is the local partner of Switzerland-based International Institute for Management Development in releasing the WCY.

The Philippine's ranking in business efficiency meanwhile rose from 26th to 19th, an improvement the report attributed to the "soaring stock market."

In terms of government efficiency, the Philippines' ranking only slightly improved from 32nd to 31st, with the report citing an increase in debt-to-GDP ratio.

The Philippines, however, slid down the rankings in terms of infrastructure, placing 57th from 55th.

"The Philippines has one of the highest improvements in ranking in the region," the statement read.

Neighboring countries have also seen improved competitiveness, with Thailand taking the 27th spot from 30th and Indonesia, 39th from 42nd.

Malaysia slipped in the list, taking the 15th spot from ranking 14th previously. It remained to be among the highest-ranked Southeast Asian countries, however.

This year's global competitiveness list was topped by the United States, Switzerland, Hong Kong, Sweden and Singapore.

...the Britain's Got Talent finalist

11-year-old Pinay makes it to live finals of 'Britain's Got Talent'

 

 

GMA News

May 28, 2013

After wowing the judges of "Britain's Got Talent" Series 7, an 11-year-old Filipina girl has advanced to the live finals round of the popular singing show on Monday.

 

 

 

Arisxandra Libantino from Aspley, Nottingham, Nottinghamshire, England first impressed judges Simon Cowell, Amanda Holden, David Walliams and Alesha Dixon during her audition when she sang Jennifer Hudson’s "One Night Only" from the Broadway show-turned-movie Dreamgirls.

The UK’s Daily Mirror quoted one judge as saying Arisxandra’s talent should be shared with the world.

"You blew the roof off the joint. Simon made a point earlier about kids being on the show but if you have a talent like yours, you've got to share that with the world!" Williams said, after giving the singing sensation a standing ovation.

Holden agreed, telling Arisxandra, "You tore the place up."

However, another judge noted that Arisxandra seemed nervous as she belted out Whitney Houston’s “I Have Nothing” from the film "The Bodyguard."

Dixson noted that once Arisxandra overcame her nervousness, her vocals opened up and she was "on fire."

Hard-to-please judge Cowell was satisfied with Arisxandra’s performance, saying it was one of the best of the night.

"If you've got it, you've got it," Cowell told Arisxandra. - Patricia Denise Chiu, VVP, GMA News

...the Miss Universe Canada 2013

Pinay to represent Canada in 2013 Miss Universe

 

By Miguel Dumaual, ABS-CBNnews.com

05/28/2013

 

 

MANILA -- A former "Pinoy Big Brother" housemate is set to represent Canada in the upcoming 2013 Miss Universe pageant, after being belatedly declared winner in the national competition.

Riza Santos (left) is Miss Universe Canada 2013. Denise Garrido (right) is 3rd runner-up. Photos courtesy of the official website of Beauties of Canada

Riza Santos, who represented Calgary in the 2013 Miss Canada pageant, was named first runner-up during the coronation night held Sunday (Manila time).

Candidate Denise Garrido from Bradford was initially declared Miss Universe Canada.

On Tuesday (Manila time), however, pageant organizer Beauties of Canada (BOC) announced that it had erroneously announced the winner and runners-up of the competition.

In the "final results" released on BOC's official website, the organization said Garrido placed 3rd runner-up. Santos, whose parents are both Filipinos, was named Miss Universe Canada 2013.

Offering its "sincere apology" to Garrido, BOC said the "human error [in determining the winner was] discovered while validating the results."

It added: "Beauties of Canada congratulates Riza Santos as the winner of Miss Universe Canada 2013 competition, and looks forward to working with her as she prepares to represent our country at Miss Universe 2013."

The 25-year-old Santos is a veteran pageant contestant, having won two other beauty competitions in Canada -- Miss Earth in 2006, and Miss World in 2011.

Although born and raised in Canada, Santos is pure Filipino. Her father, Ruel Santos, is from Bulacan; while her mother, Dina Buenaventura, hails from Bataan.

In 2007, Santos was among the housemates of the second "Celebrity Edition" of the hit ABS-CBN reality TV show "Pinoy Big Brother."

With an estimated 1.6 million text votes, Santos won second place at the show's conclusion.
Following her stint as a housemate, Santos appeared in several Kapamilya programs, including the concert variety show "ASAP," and TV series like "Palos" and "I Love Betty La Fea."

As Miss Universe Canada, Santos will compete with the Philippines' delegate to the Miss Universe pageant, Ariella Arida, later this year.

 

...the Cannes films awardee

Film with Pinay actress wins at Cannes

 

ABS-CBNnews.com

05/27/2013

 

 

MANILA, Philippines – The Philippine delegation to this year’s Cannes Film Festival are not exactly returning home empty-handed after a film starring a Filipino actress won the prestigious Camera d'Or prize on Sunday.

Singapore’s Anthony Chen won the Camera d'Or for his debut feature “Ilo Ilo” -- the first time that a Singaporean feature has won at Cannes.

The movie, which stars Yeo Yann Yann, Chen Tianwen, newcomer Koh Jia Ler and Filipino film and stage actress Angeli Bayani, is set during the Asian financial crisis in 1997 and explores the lives of Singapore's workaholic, ambitious middle classes and the domestic help on which they depend.

It tells the tale of a Singaporean family and their Filipina maid, who befriends the family's troubled son.

"The director's intelligence and sensitivity bring forth very important issues -- childhood, immigration, class struggles and the economic crisis," said the jury citation.

According to the Singapore Straits Times, the 29-year-old Chen was "very shocked" at the good news and was, in fact, about to leave Cannes on Sunday afternoon to join his wife in London when he got a call from organizers telling him to attend the closing ceremony later in the evening.

“Ilo Ilo” was one of two films starring Bayani that premiered at the prestigious film festival.

Bayani, whose past works include the award-winning indie film “Ka Oryang,” the stage musical “Caredivas” and the ABS-CBN series “Angelito: Batang Ama,” also appeared in “Norte, Hangganan ng Kasaysayan” by acclaimed filmmaker Lav Diaz.

“Norte” competed in Cannes’ Un Certain Regard section along with “Death March,” director Adolfo Alix Jr.’s film about one of the worst atrocities in World War II starring Kapamilya actors Sam Milby and Zanjoe Marudo.

The two Filipino films lost to French-Cambodian director Rithy Panh's "The Missing Picture," an autobiographical documentary that uses clay figures.

Another Filipino film had its world premiere at Cannes -- “On the Job,” starring Kapamilya stars Piolo Pascual and Gerald Anderson. The crime thriller, directed by Erik Matti, was part of the Director’s Fortnight.

But while “On the Job” was shown out of competition, it did pick a different kind of prize. Even before its screening, independent distributor Well Go USA announced that it has acquired all North American rights to “On the Job,” a co-production of Reality Entertainment and Star Cinema. -- With report from Reuters

 

...the PH growth

UN says PH growth robust, downgrades other countries

Malaya Business

Published on Monday, 27 May 2013

Written by ANGELA CELIS

 

 

 

The United Nations has downgraded its growth outlook for the world and the East Asian region, but it said that growth in the Philippines is expected to remain “fairly robust” in 2013.

The United Nations Conference on Trade and Development and the UN Department of Economic and Social Affairs have revised downward its global growth forecast for 2013, to 2.3 percent from the previous outlook of 2.4 percent made in January this year.

“Despite improved global financial conditions and reduced short-term risks, the world economy continues to expand at a subdued pace,” the mid-year update of the World Economic Situation and Prospects report for 2013 said.

Global growth is expected to be the same as last year’s 2.3 percent expansion, before growing by 3.1 percent in 2014.

The report said that developing countries and economies in transition continue to register much stronger growth than developed economies.

“In response to the economic slowdown in 2012, many of them, including some large countries in East Asia, South Asia, and Latin America adopted more expansionary monetary and—to a lesser extent—fiscal policies to strengthen domestic demand,” the report said.

“This, along with a slight upturn in external demand, should provide a lift to economic growth in 2013,” it added.

The report said, however, that the pick-up in growth will be slower than previously estimated since many large economies face structural challenges.

“Potential growth in many developing countries is likely lower than before the global financial crisis,” the UN said.

“The least developed countries are projected to see faster growth in 2013 than in the past two years,” it added.

The UN report also revised downwards the growth forecast for the East Asian region for both this year and next, to 6.1 percent and 6.3 percent, respectively.

The region’s growth is expected to be higher than the 5.9 percent expansion recorded in 2012.

“The mild upturn is expected to be underpinned by robust growth in domestic demand and a gradual recovery in exports amid slowly improving global conditions,” the report said.

“In Indonesia, Malaysia, the Philippines, and Thailand, the growth momentum is expected to remain fairly robust owing to buoyant consumption and investment demand,” the report said.

The UN report added that in most economies in the region, domestic demand will be supported by stable labor market conditions, strong household income growth, and accommodative monetary policies.