...the most attractive cities for investment

'Young' Manila among most coveted cities for investors

 

ABS-CBNnews.com

05/01/2014

 

 

MANILA, Philippines – Manila is among the most coveted cities for emerging market investors, according to real estate website Lamudi.

In its list of most sought-after emerging market cities for investors, Lamudi ranked Manila second to Jakarta, Indonesia.

Manila, Philippines

Lamudi said more investors have turned their attention to the Philippines’ capital as the country’s economy gains speed, citing the young demographic and a workforce culture comparable to the west.

“Manila is considered favorable to investors because it has a young demographic, as well as a similar workforce culture to the west,” the website said.

“Its residential, retail and office sectors all present strong investment prospects,” it added.

Manila is also “increasingly attracting multinational companies for outsourced services,” according to the site.

Lamudi also highlighted the growth of the real estate industry in Southeast Asia, particularly cities in the Philippines and Indonesia, which have strong prospects, thus “cementing Southeast Asia’s place as one of the world’s emerging property hotspots.”

“Investors searching for new opportunities in emerging markets should look to one of these cities. Countries right across the regions where Lamudi operates are experiencing a boom in real estate, fuelled by a growing middle class and strong economic performance,” said Lamudi co-founder and managing director Kian Moini.

Apart from Manila and Jakarta, also making the list are Mexico City, Mexico; Marrakech, Morocco; and Dhaka, Bangladesh.

Lamudi, which operates exclusively in 22 countries in Asia, Africa, Latin America and the Middle East, has picked the top investment opportunities in these regions based on market trends for the past six months.

 

...the PH climb in World Bank economic ranking

PH is 28th largest economy

 

By Cai U. Ordinario,

BusinessMirror

05/01/2014

 

 

MANILA - The Philippines emerged as the world’s 28th largest economy in the International Comparison Program (ICP) 2011 study, results of which were released by Washington-based lender World Bank on Wednesday.

Taguig City, Metro Manila  Skyline

 

The ICP 2011 is a project undertaken through the authority of the United Nations Statistical Commission. It covered 199 economies and compared their shares to the global economy and expenditures. It also used the so-called purchasing-power parities (PPPs) in comparing the size and price levels of economies around the world.

The PPPs make it possible to compare gross domestic products (GDPs) of economies in real terms by removing the price-level differences among them.

“Six of the world’s 12 largest economies were in the middle-income category [based on the World Bank’s definition]. When combined, the 12 largest economies account for two-thirds of the world economy, and 59 percent of the world population,” the World Bank said.

The World Bank said the PPP-based world GDP amounted to $90.65 trillion in 2011, higher than the $70.29-trillion GDP measured in terms of exchange rates.

Data showed that the Philippines’s share in terms of global GDP was at 0.6 percent in PPP terms and 0.3 percent in terms of exchange rates. The 30 largest economies accounted for 84.1 percent of the global GDP in PPP terms.

The Philippines is one of the four Southeast Asia countries that made it to the 30 largest economies worldwide. Indonesia ranked 10th, followed by Thailand at 21st and Malaysia at 27th.

Globally, the world’s largest economy is the United States, with a share of 17.1 percent of global GDP. But China was a close second, with a share of 14.9 percent; with India a far third, with a share of 6.4 percent.

“The six largest middle-income economies—China, India, Russia, Brazil, Indonesia and Mexico—account for 32.3 percent of world GDP, whereas the six largest high-income economies—the United States, Japan, Germany, France, the United Kingdom and Italy—account for 32.9 percent,” the World Bank said.

“Asia and the Pacific, including China and India, accounts for 30 percent of world GDP; Eurostat-OECD 54 percent, Latin America 5.5 percent [excluding Mexico, which participates in the OECD; and Argentina, which did not participate in the ICP 2011]; and Africa and Western Asia about 4.5 percent each,” it added.

The Philippines also had a price-level index (PLI) of 53.2, which indicates it is not an expensive country but not the cheapest, either. The PLI is the ratio of a PPP to a corresponding exchange rate.

The World Bank said an index of over 100 means prices are higher than the world average; and 1 less than 100 means prices are relatively lower.

The most expensive economies in GDP terms are Switzerland, Norway, Bermuda, Australia and Denmark, with indices ranging from 210 to 185. The United States ranked 25th in the world, lower than most other high-income economies, including France, Germany, Japan and the United Kingdom.

But only 23 economies showed a PLI of 50 or below. The cheapest economies are Egypt, Pakistan, Myanmar, Ethiopia and Lao People’s Democratic Republic, with indices ranging from 35 to 40.

Meanwhile, even if the Philippines is one of the largest economies in the world and one of the “not so expensive” places to live globally, it is still not the richest in terms of GDP per capita.

The Philippines’s GDP per capita in 2011 in PPP terms was only at $5,772 and $2,379 in terms of exchange rates. These are below the average GDP per capita in Asia and the Pacific, at around $7,621 in PPP terms and $3,527 in terms of exchange rates.

The five economies with the highest GDP per capita are Qatar, with a GDP per capita in PPP terms at $146,521, followed by Macao with $115,441; Luxembourg, $88,670; Kuwait, $84,058; and Brunei Darussalam, $74,397.

In contrast, around eight economies have a GDP per capita of less than $1,000. These are Malawi with $973, followed by Mozambique, $951; Central African Republic, $897; Niger, $852; Burundi, $712; Congo, $655; Comoros, $610; and Liberia, $537.

“Eleven economies have more than $50,000 per capita, while they collectively account for less than 0.6 percent of the world’s population. The United States has the 12th-highest GDP per capita,” the World Bank said.

The ICP implementation was led and coordinated by the ICP Global Office, hosted by the World Bank, in partnership with regional agencies overseeing activities in eight geographic regions.

These are Africa, Asia and the Pacific, Commonwealth of Independent States, Latin America, the Caribbean, Western Asia, Pacific Islands, and the countries of the regular PPP program managed by the Statistical Office of the European Communities and the Organization for Economic Cooperation and Development.

Further, the World Bank explained that two “singleton” economies, Georgia and Iran, participated in bilateral exercises with partner economies, without being part of any regional comparisons.

 

...the Filip+Inna fashion

Distinctly Filipino brand makes a mark in NY fashion

 

By Don Tagala,

ABS-CBN North America News Bureau

04/26/2014

 

 

NEW YORK - The name itself screams creativity that is distinctly Filipino.

Filip+Inna, a play on the word Filipina, has made a mark at the annual 3-day shopping extravaganza called Indagare Souk in New York's Upper East Side.

"Souk" means Arab market - Indagare Souk is a market place of global finds, including intricately embroidered clothes and accessories by Filip+Inna.

Founder and creative designer Lenora Cabili said a line dress with mother of pearl bead work and traditional embroidery from the Philippines is one of her best sellers.

"These are basically shell beads, these are like hand stitched. They love the fact na it's an easy wear," Cabili said.

New Yorker Carol Mercer is one of Filip+Inna's loyal customers.

"I like it because it's pretty, also because it's handmade and it's very different. Yyou don't see it anywhere else. The colors are beautiful, and I just love the stitching, embroidery, it's just lovely and the prices are reasonable," said Mercer.

Filip+Inna is inspired by tradition yet designed for the contemporary woman-- a weave that creates timeless and unique piece of clothing and accessories.

From the northern to the southern Philippines, Cabili incorporates old custom weaving, embroidery and beadwork that is handmade by artisans from different indigenous Filipino tribes such as the T'boli.

"It's really getting inspiration from the Philippine culture and make it more relevant in our every day lives," Cabili said.

Cabili's love for promoting the Philippines began when she was exposed to the different indigenous tribes growing up in Iligan City in Mindanao. This was further enhanced by her experience as a Bayanihan Philippine Cultural dancer.

"It has to be part of our identity, so Filipinos should really be proud of the culture, our culture and I provided like a way to make it more wearable or more contemporary," she said.

New York real estate agent, blogger and Fashionista Samantha Lopez said wearing a Filip+Inna creation fits right into the Big Apple's fashion sense.

"Proven talaga, kasi I was lucky enough to be one of the first Filipina na nagsuot ng gawa ni Len dito sa New York," Lopez said, "Everywhere I go talagang napupuna."

 

...the PH cheerleaders

PHL places third in int'l cheerleading tilt

April 26, 2014

GMA NEWS 

 

 

The Philippines scored anew in the international stage on Saturday, with its team bagging the bronze in an international cheerleading competition in Florida.

Screenshot of a video of Team Philippines' performance in the annual World Cheerleading Championships' All Girl Elite tilt, as posted on the International Cheer Union website. International Cheer Union website

The International Cheer Union said the Philippine team copped the bronze in the All Girl Elite competition of the 2014 ICU World Cheerleading Championships.

Cheerleaders from New Zealand won the gold while Team Chile copped the silver.

On the other hand, the Filipinas managed to beat teams from Mexico, Slovenia, Puerto Rico, Ecuador, Switzerland, Colombia, and Wales.

The competition was held at the Walt Disney World Resort in Orlando, Florida on April 24 and 25.

ICU was established April 26, 2004, and is the recognized world governing body of cheerleading. — Joel Locsin and Amanda Fernandez /LBG, GMA News