Saturday, January 7, 2012

...the first Filipino on top

Garduce is 1st Pinoy to complete 'Seven Summits' quest





January 6, 2012
GMA News
 
 
Filipino mountaineer Romi Garduce made history early Friday morning in Manila when he reached the top of Antarctica's Vinson Massif to complete his "Seven Summits" quest.




Garduce, in a News TV Live report quoting MountainMadness.com, and several of his companions reached Vinson Massif's summit at 5:45 a.m. Philippine time. The group battled through temperatures reaching -26 and mild to moderate wind conditions.
The group is expected to return to base camp to celebrate the historic feat on Saturday.
Garduce became the first Filipino to reach the top of the seven highest peaks of the seven continents.

Vinson Massif is Antarctica's highest mountain at 16,050 feet.

Garduce began his "Seven Summits" quest in 2002 when he scaled Africa's Mt. Kilimanjaro (19,340 ft.) then reached South America's Mt. Anconcagua (22,841 ft.) in 2005.

He was one of the Filipinos who reached the summit of Asia's Mt. Everest (29,035 ft.) in 2006.

Garduce's quest also took him on top of North America's Mt. McKinley (20,320 ft.), Oceania's Carstensz Pyramid (16,024) and Europe's Mt. Elbrus (18,510 ft.). — JVP, GMA News

SUMMIT 1. Mt. Kilimanjaro, Africa (2002) - 5,895m



SUMMIT 2. Mt. Aconcagua, South America (2005) - 6,960 m
SUMMIT 3. Mt. Everest,  Asia (2006) - 8,848m
SUMMIT 4. Mt. Elbrus, Europe (2007) - 5,642m

SUMMIT 5. Denali Peak, North America (2008) - 6,194m
SUMMIT 6. Carstensz Pyramid, Australia and Oceania (July 2011) - 4,884m

Friday, January 6, 2012

...the new brand Philippines

PHL's new tourism campaign: 'It's more fun in the Philippines'




January 6, 2011
 
 
 
The Department of Tourism unveiled Friday morning its new tourism campaign dubbed "It's more fun in the Philippines."

 


Tourism Secretary Ramon Jimenez said the campaign is simple and truthful and answers the simple question, “Why should I go to the Philippines?”


The DOT posted on Twitter, quoting Jimenez: "Starting tmrw all Filipinos will hav a simple truthful ans 2 d question why should I go to the Philippines. "It's more fun in my country.”

"We need a line that is easily understood. Competitive. More fun in the Philippines is true. Kering keri natin ang campaign na 'to,” said Jimenez.

Jimenez showed reporters two logos, one for its national campaign and one for its international campaign.


“#1 for fun Philippines" is the slogan for the domestic market, while “It’s more fun in the Philippines" is for the international campaign.


For the past week, the DOT, through private briefings with traditional media and social media personalities, has been trying to create buzz about the unveiling of its new campaign.

Ever since he was named the replacement for resigned Tourism Chief Alberto Lim, advertising pillar Jimenez has indicated that his strategy will tap the growing power of social media.

“Believe in the beauty of your country. Sell it at every turn. Sell it on Facebook, on Twitter, on Multiply. Talk about your country because we deserve a visit from the world," Jimenez said in an interview last September on GMA News TV’s “State of the Nation.”

'Fun tayo'


Jimenez said at the launch on Friday morning, "Everything's more fun in the Philippines. Planking is more fun in the Philippines. Root canal is more fun."

He added, "Simple truth is always what works best when you want to persuade someone. We promise only what we can deliver NOW."


Jimenez also reminded Filipinos to get in on the spirit: "We should remind each other, 'O guys ah, fun tayo, ngumiti ka, huwag ka um-attitude diyan!'"


Via text to GMA News Online, former Tourism Secretary Gemma Cruz Araneta cautioned that "for any slogan to be effective, it has to be backed up by the proper infrastructure, clean facilities, destinations that are uniquely Filipino, and of course, people who are proud of their country."


In the end, any marketing campaign will only be as good as its product, the country itself. The safety of tourists is still a major concern. The tourism industry suffered a downturn in 2010 when a global audience watched live as Manila police failed to save eight Hong Kong nationals who were killed in a tourist bus in Luneta by a rogue policeman.


Top trending topic
 
 
The new campaign was conceived with the help of BBDO Guerrero | Proximity Philippines, but Jimenez was quick to point out: “This is not my campaign. This is not BBDO's campaign. This is not DOT's campaign. This campaign belongs to everybody.”
 
 
DOT also launched its new website for the campaign, http://itsmorefuninthephilippines.com/.


On Friday morning, the hashtag #ItsMoreFunInThePhilippines became the top trending topic worldwide on Twitter.

In the Philippines, the campaign also figured prominently on Twitter. The hashtag "#ItsMoreFunInThePhilippines" is leading, "#1ForFun" is 2nd, and "More Fun In The Philippines" is 5th as of posting time. "DOT" is 3rd and "Mon Jimenez" is 9th.

Netizens quickly posted their reactions on Twitter within the hour the campain was launched, with some people saying they love its simplicity, while others said it lacks punch. –With Gayna Kumar and Lian Nami Buan/HS, GMA News

Thursday, January 5, 2012

...the Miss America contender

Fil-Am competing in Miss America pageant

January 5, 2012
GMA News
Filipino-American Kristina Janolo is representing Florida in the upcoming Miss America 2012 Pageant, a report of the Asian Journal said.



Janolo, 24, a student of University of Central Florida, won the Miss Florida crown in July last year, the Asian Journal said.


The 2012 Miss America Pageant will be broadcast live from Planet Hollywood Resort and Casino in Las Vegas on January 14.

Janolo, of Kissimmee, Florida, is the first Filipino-American to win the title of Miss Florida.


She was born in the United States but her mother is from Manila while her father is from Mindoro.


Miss America

According to the Miss America website, the pageant began in 1921, when East Coast newspapers sent their city representatives to the Second Annual Fall Frolic as special guests.


Once Miss America is chosen, she embarks on a year-long national speaking tour. "As a national spokesperson and advocate, Miss America travels approximately 20,000 miles a month, to a different city every other day, addressing diverse audiences, increasing awareness and promoting her chosen platform," the website says.

Miss America contestants are from 17 to 24 years old. Scholarships are available to contestants, even non-winners. - VVP, GMA News

...the credit rating

Philippine credit rating on track for upgrade

BSP expects investment grade status within a year


By: Ronnel W. Domingo
Philippine Daily Inquirer
 
The Philippines’ global credit rating may be raised to investment grade within a year following five “positive actions” from credit watchers in 2011, according to the central bank.

Diwa Guinigundo, Bangko Sentral ng Pilipinas deputy governor, said Wednesday that in six months to a year, it is possible for the country to attain an upgrade of “a notch or two,” especially after Standard and Poor’s improved its outlook on the country from “stable” to “positive” last month.

For borrowings from foreign lenders, Moody’s Investor Service and S&P rate the country “BB” and “Ba2,” respectively, both indicating two notches below investment grade.

But Fitch Ratings marks the country with “BB+,” which is just a step away from the level where a country’s capacity to pay off its debts is perceived to be “adequate.”

A two-notch upgrade would bring Moody’s and S&P ratings to investment grade, as a one-step uptick will do with Fitch ratings.

“If the direction of the country’s economy stays on course, I think we have sufficient basis to be confident that we shall receive a credit upgrade that we deserve,” Guinigundo said.

He said the domestic economy continued to grow in 2011 despite problems elsewhere in the world that affect the Philippines, such as the fiscal predicaments of the United States and certain countries in the European Union.

He also said that the inflow of funds from abroad remained strong with remittances from overseas-based Filipinos reaching some $16.5 billion in the 10 months to October and gross international reserves hitting $76 billion.

Guinigundo said the Philippines had been accorded “two slots” for a possible upgrade, which a positive outlook—such as that of S&P—makes all the more seemingly attainable.

“Fitch was almost immovable but they moved,” he added. “Whatever improvement from the current (ratings) is welcome, but we deserve investment grade based on our assessment.”

A credit rating upgrade would mean lower borrowing costs for the country, which would translate to easier access to funds for companies and individuals.

Last December when S&P changed its Philippine outlook to positive from stable, company analyst Agost Bernard said the move was meant to reflect the assessment that the Philippines’ external vulnerability had diminished.

Wednesday, January 4, 2012

...the most notable Asian films of 2011

'Busong' among Wall Street Journal's 'standout' Asian films of 2011

 
By JULIEN MERCED C. MATABUENA
January 4, 2012
 
 
'Busong' and 'Niño' ('Busong' photo from Facebook; 'Niño' still from pelikula.tumblr.com)
'Busong' and 'Niño' ('Busong' photo from Facebook; 'Niño' still from pelikula.tumblr.com)


MANILA, Philippines – Director Auraeus Solito’s opus “Busong (Palawan Fate)” has been recognized by the Wall Street Journal Asia as one of the most “notable” Asian films released last year.

In the article, “The Year in Asian Film” published on Dec. 30, film critic Dean Napolitano wrote that in “Busong,” Solito “merges the mystical and the familiar in this culmination of a life-long exploration of his family's tribal origins.”

Other films listed in the article were China’s “Flying Swords of Dragon Gate,” “Inseparable” and “Wu Xia”; Hong Kong’s “Life without Principle” and “A Simple Life”; South Korea’s “A Reason to Live” and “Unbowed”; and Taiwan’s “Warriors of the Rainbow: Seediq Bale” and “You are the Apple of My Eye.”

“Busong” was first screened locally at the 7th Cinemalaya Philippine Independent Film Festival under the Directors Showcase category in July last year. But two months prior, the Palawan indigenous film was among the 21 entries in the official selection of the prestigious Cannes International Film Festival’s Directors' Fortnight section.

After its Cinemalaya stint, where it took home three Balanghay trophies for Best Sound, Best Original Music Score and Best Director, it received the International Critics Prize at the Eurasia International Film Festival in September and the International Competition Tomorrow's Cinema Award at the 38th Brussels International Independent Film Festival in November.


‘Niño’ screens in US film fest

Meanwhile, director Loy Arcenas’ “Niño” will be shown at the 23rd Palm Springs International Film Festival to be held from Jan. 5 to 16 in California.

According to the festival’s official website, the multi-awarded Cinemalaya film about a once-illustrious Filipino family and greed will be screened on Jan. 6 and 9. It is included in the World Cinema section with 77 others.

“Niño” first gained international recognition in October last year when it won the New Currents award at the 16th Busan International Film Festival (BIFF) along with Iranian film "Mourning" by Morteza Farshbaf.

...the growth stimulator

Gov’t seen to rev ‘all engines of growth’

By: Ronnel W. Domingo
Philippine Daily Inquirer
 
AMANDO M. TETANGCO JR.: Sound advice to government


The central bank has room to lower its policy rates should the global economic growth slow down further, but Malacañang must spend wisely to maximize a “limited policy space,” according to monetary officials.

Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. on Tuesday said that, along with an “appropriate” monetary stance, targeted government spending and the participation of the private sector would set “all engines of growth [to] fire up.”

In the Monetary Board’s meeting on policy rates last December, it was decided that the overnight borrowing rate and overnight lending rate be maintained at 4.5 percent and 6.5 percent, respectively.

The BSP said the decision was based on the assessment that the inflation outlook would continue to be manageable.

“The global growth picture has indeed turned more negative since mid-2011,” Tetangco said. “But if policymakers and the private sector are able to harness these buffers, our country will be able to meet the challenges of 2012 head-on.”

The government will have to ensure that its spending is targeted at sectors that will lead to greater job generation, apart from infrastructure projects that will solidify the base for sustained growth, the BSP chief said.

According to Budget Secretary Florencio B. Abad, the government has already started the ball rolling by allocating P438.8 billion, or about a quarter of this year’s national budget, to five priority areas for job generation and economic development.

This is “on top of the established drivers of growth like semi-conductor and electronics, business process outsourcing,” Abad said, adding that emphasis would be placed on tourism development, agriculture and fisheries development, and general infrastructure.

He said this year’s budget for the economic sector covers P182.2 billion for the government infrastructure program, and P22.1 billion for public-private partnership (PPP) infrastructure projects.

Also, there is a total of P10.9 billion for programs related to the production of rice, corn, high-value crops, livestock and fish.

Further, P24.5 billion has been earmarked for the construction, restoration and rehabilitation of irrigation systems.

...the next investment hub

PH can be next investment hub, says consulting firm

01/04/2012
 
 
MANILA, Philippines - The Philippines has the inherent attractiveness and ability to seize upcoming business opportunities as it steps up as the next favored destination in ASEAN.
 
According to Synovate’s business consulting head for the Philippines, and Singapore group director, Anand Kumar, the Philippines needs to immediately seize this opportunity.

The Philippine government, he said, must come up with more incentives for setting up manufacturing hubs. It must also address its steep electricity rates to lure more foreign direct investment (FDI).

“Take full advantage of the coming AFTA (ASEAN Free Trade Area) agreement. Expand to offering higher-value added services,” Anand advised.

He said “the opportunity needs to widen at this point in time. It may not be available in three to five years so it needs to be seized now.”

In a recent road show presentation entitled Developments in ASEAN markets - Assessing the risks and Opportunities, Anand tackled the potential of ASEAN countries, including the Philippines, and identified them as the most promising emerging growth markets next to the giants India and China.

Explaining the trend, Anand noted that “for the past 10 years, export powerhouses Japan and Korea have remained stagnant.” He added that the ones leading growth are the other countries in the Asia Pacific including ASEAN.

This is due, Anand said, to the combined exports of China, Indonesia, Malaysia, Vietnam, India, Australia, Singapore, Philippines, and Thailand that have exceeded the exports of Japan and Korea.
China and India have the largest GDP (gross domestic product) in Asia, while Indonesia ranks first among ASEAN countries.

Anand explained that although cheap labor helped China sell itself as the workshop of the world, “historical wage increments and the revaluation of the renminbi (RMB) has eroded the cost advantage that China enjoyed 15 years ago.”

Anand highlighted the fact that the hourly wage difference between developed economies and Tier 1 cities in China has reduced significantly, with potential wage parity being forecast in the next three to five years.

With China ceasing to be attractive as a low-cost manufacturing hub for new FDIs, other countries can vie for the post vacated by the Awakened Dragon, Anand said.

Furthermore, Anand said India and Indonesia’s double digit median household income growth eliminate them from the list of alternate low-cost countries.

Vietnam, meanwhile, is plagued with problems of high inflation coupled with significant currency devaluation.

This means other ASEAN countries, including the Philippines, can take advantage of this niche.

Anand acknowledged that potential investors must be wary of negative factors such as poorly executed governance and contracts as well as simply pursuing an ineffective mode of entry into the market.

Having emerged as a low-cost country in terms of wages, plus its proximity to the demand centers in Asia (China, India and Indonesia), Anand believes that the Philippines can be the next investment hub.

“Usually, when they say the Philippines, people think it’s relatively expensive but that’s not the case,” he said.

“If we were to do the differential equation for the Philippines, we will notice that there is a significant variance between developed economies average hourly wages against the Philippines wages,” Anand added.

Apart from wages, Anand continued, the Philippines also has an inherent advantage in cultural factors - the accent and general amiability of the locals are certainly attracting more investors to the country, and this is best evidenced in the establishment of more BPOs in the country.

“They say India is cheaper and has more call centers but it was the Philippines that was crowned as the number one choice in call centers in the world by the International Herald Tribune,” Anand said.

“People here are more hospitable. The accent is right, the use of the English language is right, the way they speak is right. These small things are now suddenly starting to make a big impact in big decisions such as how and where companies are going to invest in the future,” Anand concluded.

Tuesday, January 3, 2012

...the year of the Azkals

2011: The year the Azkals revived Philippine football

 
December 30, 2011
 
 
The year 2011 will perhaps be remembered as the Philippine football's revival. The Azkals were known, or rather barely known, for losing consistently. Four years ago the Azkals weren't even entered for the World Cup qualifiers and other competitions and lost five games in a row, one to Singapore and two each to Malaysia and Thailand, conceding four goals in every game and scoring just one in all five.

The seeds of the team were already there, though, and after the losing record they went on an 11-match unbeaten run racking up five wins and six draws. Without making a mark in any major competition or beating a well-ranked team, the team was just competing for the title of the best of the minnows in Southeast Asia.

Since Manager Dan Palami took control of the team, however, they have improved their ranks and confidence and shocked Asia with a 2-0 victory over regional powerhouse Vietnam in the 2010 Suzuki Cup. This kick-started everything and set the scene for 2011 to become the biggest year in Philippine football history since the glory days of Paulino Alcantara and the Philippines' solitary trophy in 1913 when they beat China 2-1 to win the first ever Far Eastern Games.

The team went on to become at one stage the most improved nation in the world, based on ELO ratings. This is somewhat remarkable given football was virtually unknown to the general populace. TV networks hurriedly reorganized schedules to show matches, some networks just hearing for the first time that the Philippines had a football team. So here's the first part of a two-part series looking at how the Azkals have achieved that success and the forecast for 2012.

February: Challenge Cup qualifiers 1st round
Many nations didn't have to qualify for the group stage of the Challenge Cup in 2011, which was in itself the qualifying stage for the Challenge Cup in 2012. In their group only the Philippines had to go through the knockout qualifying stage which also saw Afghanistan, Taiwan and Cambodia enter the group stage. The first leg was played in Bacolod, considered by many to be Philippine football's home given the popularity of the sport. Indeed the official 20,000 capacity crowd is perhaps an underestimate and was by far the biggest audience of any of the qualifying matches.

The Philippines dominated the match after Mongolia went down to 10 men 25 minutes into the game after Pagamsuren Altantulga was sent off. Fittingly, Ilo-ilo native Chieffy Caligdong broke the deadlock as the first half was drawing to a close. With everyone thinking it would end goalless he popped up on the left wing to dink the ball over his defender and volley it through the goalkeeper's legs.
 
In control of the game but unable to kill it off, the Philippines seemed to be heading into a tricky away leg with only a single goal advantage for all the possessions and shots. Into the fourth minute of injury time, Phil Youngshusband sent the crowd into a frenzy as he squeezed the ball in on the rebound.
 
In the return leg in Mongolia, the Azkals got off to a flying start when James Younghusband scored in the 4th minute. This put the Azkals up 3-0 on aggregate and though Mongolia came back to score two first-half goals and bring the aggregate score to 3-2 to the Philippines, they couldn't managed to score again and the Azkals qualified for the next round.
 
Success: The Philippines were the only team in this knockout round to beat a higher ranked opposition on aggregate to qualify.
 
March: Challenge Cup qualifying group stage
Having beaten Mongolia, the team now entered the group stage of qualification, a round robin of four teams with the top two making it through to the final stage of the tournament in March, 2012.
 
Drawn against Bangladesh, Palestine and hosts Myanmar, it was a tricky group which got off to a disheartening start when leading for most of the match Myanmar scored a late free-kick to take a share of the points. Palestine beat both Myanmar and Bangladesh in their other games but failed to score against the Philippines as the two played out a 0-0 draw and left an all or nothing clash in the Philippines' final game of the group against Bangladesh.
 
Anything less than a win would see Bangladesh or Myanmar qualify while a victory would guarantee progression to the finals. As it was, the Philippines finally turned on the style and the team gelled to outclass their opponents to win 3-0. Qualifying behind Palestine in the group, the team made the Challenge Cup Finals in March, 2012.
 
Success: The Philippines were the only qualifiers of the knockout round to also qualify for the final stages.
 
June-July: World Cup qualification
The Philippines were drawn against Sri Lanka in the opening round of the AFC World Cup Qualification. Moving up in the rankings, the Philippines were rated higher than Sri Lanka though things got off to a sluggish start as Sri Lanka took the lead in Colombo through a deflected free kick before Nate Burkey scored the equalizer.
 
With their backs to the walls the Azkals showed their fighting spirit again and dominated a lackluster Sri Lankan side at the Rizal Memorial Stadium. Winning 4-0, the team advanced into the Second Round of World Cup Qualification, 5-1 on aggregate.
 
The draw saw the Azkals face Kuwait in the next round, a team ranked 67 places above them at the time. The start was sluggish again and the absence of Aly Borromeo and Stephan Schrock, due to suspensions, also didn't help the team in a 3-0 loss to Kuwait.
 
With little chance of progressing the Azkals came out strong in front of a home crowd in the second tie as Rizal Memorial Stadium started to become the team's fortress. The Philippines took the lead with what later became the Kaholeros' goal of the year: Stephan Schrock hammered the ball into the top of the net from 25 yards out.
 
Kuwait came back in the second half and equalized before having a man sent off. Pushing for an upset win, the Azkals were caught on the break and Kuwait took the lead with 10 men. The result meant that the team was knocked out of the World Cup Qualification 4-1 on aggregate but they won many plaudits along the way.
 
An honorable mention also goes to Yanti Barsales, who retired from international football in June, playing his last game for the Azkals against a UFL XI. The year 2011 has been the best for Philippine football, but the current stars owe much to standing on the shoulders of Barsales, who made his debut in 1992, and other Filipino veterans.
 
Success: The Philippines recorded their first victory in World Cup Qualification and battled to a 2-1 loss against the reigning Gulf Cup of Nations Champions, Kuwait, in the next round.
 
September-October: Long Teng Cup
Reaching the next round of World Cup Qualification had lifted the Azkals high in the public consciousness and television coverage was now almost guaranteed for each match. From being unknown, news about the team was starting to flood the nation's consciousness.
 
Tipped as potentially the Philippines' first trophy since 1913, the 2011 Long Teng Cup seemed to start in the worst possible way with Hong Kong scoring two early goals and asserting their dominance. Phil Younghusband converted a penalty to put the Azkals back into contention before half-time though and after the break Caligdong, so often the team's creative inspiration, scored twice to put the Philippines ahead. In the dying minutes of the game it seemed the Philippines had completed a remarkable comeback against the tournament's highest ranked team until Hong Kong equalized in the 86th minute.
 
In their next match, the Philippines faced Taiwan, which had already beaten Macau 3-0. Playing out a 0-0 draw the Philippines would repeat their feat in the Challenge Cup of drawing the opening two games before winning the last game to finish second in the group with five points. A 2-0 win over Macau gave the Philippines those points, though truth be told it wasn't the Azkals' best performance and the Philippines only won as Caligdong dragged his country into second place. Hong Kong meanwhile destroyed Macau 5-1 and Taiwan 6-0 to rule the Long Teng Cup for the second time.
 
Success: The Azkals improved on their position climbing to second place in the group with two draws and a win compared to a win, draw and a loss the year before.
 
Fun fact: Ian Araneta was the 2010 Long Teng Cup's top scorer, netting four goals in three games. This time around Caligdong was the only player in the tournament to score four goals to win the Golden Boot award.
 
October: Friendlies
With no tournaments left for the senior team in the year the Philippine Football Federation arranged friendly matches for the national side. First saw Singapore looking for revenge as the last encounter between the two nations ended in a 1-1 draw which eventually knocked Singapore out of the 2010 Suzuki Cup in the group stage for the first time since 2002. Singapore won the game 2-0 but they had to work for the result.
 
Ranked 30 places above the Philippines at the time it was still a worthy effort from the Azkals, who faced a Nepal side that is a place above Singapore in the FIFA rankings. Two goals from Phil Younghusband, one from his brother James and one from Matthew Hartmann had the visitors posting a 4-0 triumph.
 
Success: The Philippines established themselves as the most improved nation in the world based on ELO ratings. An arguably more accurate rating system, developed by a chess grandmaster, the ELO ratings showed the Azkals had been the most improved country in the world over the past 12 months at this point.
 
November: SEA Games
The SEA Games were perhaps the biggest disappointment of the year for football fans. Without adequate preparation, the Under-23 players struggled against their Southeast Asian rivals and recorded one win in five games.
 
The U23 team lost to Vietnam 3-1 in their opening game and was followed by a surprise 2-1 defeat to Timor Leste. The team defeated Laos in extra time as Joshua Beloya struck two late goals to turn around a 2-1 deficit and record their only points of the campaign. The Junior Azkals also suffered consecutive losses to Myanmar (5-0) and Brunei (2-1) as the Philippines dropped to the bottom of the group.
 
Success: Not much in this case though finding several younger players with great potential show Philippine football's future.
 
December: LA Galaxy
The game itself ended 6-1 in favor of the LA Galaxy, the Azkals' biggest loss of the year. Yet the result didn't matter as playing against the LA Galaxy in the first place was the achievement.
 
This capped the Azkals' year in style as David Beckham, arguably the biggest football star in recent football history, graced Manila by opening the scoring with a trademark curling shot and whipped in crosses to supply the next few goals. With teammates such as USA's top goal scorer Landon Donovan, Ireland's Robbie Keane and a host of other quality players, the spectacle was what was important this time around.
 
While it wouldn't be wise to have many such games, deflating the confidence of the Philippine players with heavy losses, as Weiss pointed out after the game, it was the perfect way to cap off the year.
 
Success: Originally the LA Galaxy had not intended to play in the Philippines. After the success of 2011, the newly crowned MLS champions were convinced that football had grown enough in popularity and quality to stop by the Philippines on the way to Australia. The LA Galaxy is the biggest club to visit the Philippines in decades. — JVP/HS, GMA News

Monday, January 2, 2012

...the 2012 economic forecast

PH seen to expand, withstand turbulent ’12

Government expects economy to grow 5.5% by year’s end


By: Doris C. Dumlao
Philippine Daily Inquirer
 
MANILA, Philippines–The Philippine economy this 2012 will likely grow at a faster pace than the previous year, supported by stable interest rate as well as consumer spending that derives strength from the billions of dollars sent home by millions of overseas Filiipino workers, according to Banco de Oro Unibank.

Also, the country’s economic condition will remain sound—able to withstand the effects of the lingering debt crisis in Europe and uncertainties in the United States, said Jonathan Ravelas, chief market strategist at the country’s largest bank.

In a research note, the economist projected that the country’s gross domestic product (GDP) would grow by 4.5 percent this year—higher than the 4-percent rate expected for 2011.

The government’s growth expectations appear to be rosier, settling at 5.5 percent for 2012, and 5 percent for 2011.

In 2010, the country’s GDP grew at a robust 7.6 percent due to the rebound in exports and steady growth in remittances.

Ravelas said resilient OFW inflows and other strong macroeconomic fundamentals were the Philippines’ “saving graces” that would enable it to ride a tough 2012.

He added that the sunshine industries, expansion of energy and mining investments, as well as construction of low- or medium-cost housing and office buildings, will contribute to the country’s economic growth in 2012.

Meanwhile, Ravelas listed agribusiness, consumer durables, information technology, health beauty and wellness, transport, telecommunications and tourism as among the sunshine industries, or those that are expected to become more important in the future.

Ravelas predicted that “2012 will be a tough one, with reduced global growth outlook due to global uncertainties.”

Financial market barometers, he added, would “experience near-term volatility but should stabilize in the medium term.”

Investors are expected to hold on to their cash as the global impact of the crisis in the euro zone continues to shake markets.

“We may experience near-term volatility … but once investors realize that we can withstand these so-called headwinds, they will start rolling their funds again in the financial markets,” Ravelas said.

Trouble abroad curbed the country’s economic growth last year and dampened the market. The debt crisis in the euro zone rattled investors and heightened demand for safe haven and assets such as US dollars and bonds.

In the United States, plans for economic stimulus in the near term and fiscal austerity in the medium term led to uncertainties that kept investors on the edge.

At the same time, the political tension in the Middle East caused crude prices to soar, while the earthquake, tsunami and nuclear accident in Japan stalled manufacturing.

As investors return to markets, stable interest rates and foreign exchange rates will ensue, leading to “a vibrant economy, which is reflected by a rising equity market,” Ravelas said.

The main-share Philippine Stock Exchange index will likely hit the 5,000-point mark in 2012, he said. The PSEi finished at 4,371.96 points in the last trading day of the year.

The BDO strategist forecasts the exchange rate to average 40.70 to a dollar this year, compared to the 43.80 to a dollar he projected for last year. The government believes that the peso-dollar rate will average 42.00 this year, the same as last year.

The three-month interest rates will likely average 3 percent this year, unchanged from last year, Ravelas said.
He also projected that inflation would average 4.5 percent this year, slightly lower than the 4.7 percent seen in 2011.

Sunday, January 1, 2012

...the young woodpushers in Singapore

Pinoy chessers win gold in Singapore tourney

 01/01/2012



MANILA, Philippines - Young Filipino woodpushers bagged 9 medals at the recent Singapore International Chess Festival at the Jurong East Sports Complex in Singapore.\


Michelle Yaon of Calamba City, Laguna, split the point with Sushmitha G of India to finish with 6.5 points in 8 games and complete a wire-to-wire win in the Girls under-17 category for the coveted gold medal.


"Alay ko po sa bayan itong gintong medalya," Yaon said after her victory.


Dennis Gutierrez III of San Fabian, Pangasinan scored a crucial victory over Jiddan Firman of Indonesia to top the Open U-8 division with 8 points.


Fide Master Paulo Bersamina of Pasay City capped the country's domination in the Open U-14 with a victory against Ooi Zhi Yang of Singapore to finish with 8 points and run away with the title with a full-point margin over compatriot Jerad Docena of Bohol.


Docena settled for silver in the Open U-14.


Meanwhile, Vince Angelo Medina, a student of Far Eastern University, halved the point with Jodi Setyaki Azarya of Indonesia to finish with 7.0 points and capture the Open U-17 title.


Marc Christian Nazario of Quezon City won the bronze medal in the Open U-17; Julius Gonzales of Marikina City won the bronze medal in the Open U-11; Fiona Geeweneth Guirhem of Iloilo won the bronze in the Girls U-11 and Mae Ann Joy Baclayon of Misamis Oriental won the bronze in the Girls U-8 category.


"Magandang senyales ito para sa mga young chess players natin. They showed na kaya nilang makipagsabayan and manalo sa international competitions," said National Chess Federation of the Philippines chairman and president Prospero Pichay Jr.


Meanwhile, Grand Master Richard Bitoon finished tied for second in the 2nd ASEAN Men Campomanes Cup along with GM Susanto Megaranto of Indonesia and International Master Nguyen Van Huy of Vietnam.


All 3 chessers finished with 6 points, just behind the champion, GM Cao Sang of Vietnam who ended up with 6.5 points.


There were disappointments elsewhere.


Woman Fide Master Marie Antoinette San Diego failed to live up to her top billing in the Girls U-14 and finished with only 5 points in the 9-round event, 2 points behind the winner, WFM Najihan Hisham Nur of Singapore.


San Diego was half a point behind compatriot Shania Mae Mendoza. - by Marlon Bernardino