...the Ju Jitsu next big hub

The Philippines could be the next big hub for Jiu-Jitsu superstars

With height and physical strength not much of a factor, and our longstanding heritage in combat sports, the grappling martial art can be the next big thing for Pinoy athletes. And, with its debut in the Southeast Asian Games next month, our fighters can showcase what they've got to the rest of the world.

Nissi Icasiano
ABS-CBN Sports
09 October 2019

Grappling is one of the oldest forms of combat in the world. Cave drawings in France from over 15,000 years ago appear to depict people engaged in acts of grappling. Babylonian and Egyptian artifacts show people employing most of the maneuvers known today. In Greece, wrestling served as the main attraction in the ancient Olympic Games. 

Various grappling disciplines evolved across the globe, including Sumo in Japan, Turkish oil wrestling, and Uzbekistan’s Kurash among others. In the Philippines, traditional indigenous martial arts are practiced in different regions like Bultong in the Cordilleras, Dumog in Western Visayas, and Layug in Central Visayas and Mindanao.

Due to American colonization, modern-style wrestling made its way into the country and has remained up to the present time. Many Filipinos have etched marks in this field, notably in the 1954 Asian Games, where Nicolas Arcales and Mansueto Napilay brought home silver medals, and Basilio Fabila captured bronze. It was the only year in Asian Games history that the Philippines claimed medals in wrestling. Filipino wrestlers were privileged to compete at the Summer Olympics from 1936 to 1988. Since the implementation of continental qualifiers the year after, not a single grappler has had the opportunity to set foot on an Olympic mat.

Next big thing

Through lifelong Filipino martial artist Alvin Aguilar in the mid-90s, Brazilian Jiu-Jitsu was formally introduced in the Philippines. The grappling art was formed from the Kodokan Judo fundamentals that were taught by a number of individuals, including pioneers Takeo Yano, Mitsuyo Maeda, Soshihiro Satake, and Isao Okano.

Brazilian Jiu-Jitsu eventually came to be its own discipline through the experiments, practices, and adaptation of Judo through Carlos and Helio Gracie in the 1900s. Though our nation is heavily engrossed with basketball, boxing, billiards, and currently volleyball, one Filipino practitioner believes that Brazilian Jiu-Jitsu could find a foothold in the Parthenon of Philippine sports.

Franco Rulloda, who earned his black belt in Brazilian Jiu-Jitsu under the tutelage of Aguilar last May, sees a bright future for Filipinos in the sport because, unlike basketball, it does not require height. It is built on the concept that a smaller person can successfully defend against a bigger and heavier assailant. This you can do by using proper technique, leverage, and taking the fight to the ground before applying joint-locks and chokeholds to subdue the opponent.

“The fighting spirit and passion for combat sports makes Brazilian Jiu-jitsu perfect for Filipinos,” Rulloda explains. “It is honing one’s physical attributes and using acquired knowledge to his or her advantage. It does not require too much strength, height, and athleticism.”

Rulloda points out that a lot of our prominent and successful athletes come from combat sports.

 “Manny Pacquiao, Nonito Donaire, Eduard Folayang, and the list goes on. Fighting has been ingrained in every Pinoy’s DNA,” he says. “Martial arts have deep roots in Filipino culture. History has proven that Filipinos have that warrior spirit.”

There are already a handful of Filipino competitors who have made a name for themselves internationally, including Meggie Ochoa and May Masuda. Ochoa captured three-straight gold medals from 2014 to 2016 at the World Jiu-Jitsu Championship or the Mundials. On the other hand, Masuda became the first Filipina to snare a gold medal at the Mundials in 2009.

Eros Baluyot, meanwhile, had his career-defining moment in 2010 by bagging a gold medal at the age of 17. Joey Lepiten, Gian Dee, Kaila Napolis, Annie Ramirez, Kim Custodio, Vince Ortiz, and Marc Lim have likewise made it to the podium in different overseas tourneys.

“Filipinos learn fast. We somehow have this gene attributed to absorbing techniques quickly and applying them right away. We are dedicated athletes. We put our heart and soul into whatever it is we are doing. We invest so much in our endeavors, and we are passionate about what we believe in,” Rulloda says.

Making a mark

The Philippines now houses the most number of Brazilian Jiu-Jitsu black belts in Southeast Asia: Aguilar, Rulloda, Masuda, John Baylon, Fritz Rodriguez, Pichon Garcia, Allan Co, Toffy Ilagan, Froilan Sarenas, among others.

Currently, there are 10 clubs in the country that have been recognized by the International Brazilian Jiu-Jitsu Federation including DEFTAC-Ribeiro, Atos Philippines, KMA-Fabricio, John Baylon BJJ, and Cobrinha BJJ Manila.

Aguilar, who holds the distinction as the first homegrown black belt here, says the sport has come a long way since he first piloted a small class in his garage. “Back then, Jiu-Jitsu was only comprised of four or five people. Right now, we have at least more than a thousand competitors,” he shares. “I am very happy with the level and the standard that we’ve already established here in the Philippines because we’ve produced a lot of champions.”

The pioneering fighter says that we are definitely number one in Southeast Asia, and top three in Asia. “These are the things we should take advantage of. We have so many good grapplers. Everybody here is so good, not just from my team,” he adds. “You put them in any gym around the world, and they will always be able to produce.”

Brazilian Jiu-Jitsu in the Philippines made significant strides last year when both Philippine Olympic Committee and Philippine Sports Commission declared the Jiu-Jitsu Federation of the Philippines as the sport's national governing body. The sport will also make its much-awaited debut at the Southeast Asian Games, which our country will host from November 30 to December 11.

Ochoa is more than excited to participate in the regional biennial meet, as she doesn’t get a lot of opportunities to compete in her country. “It is a big deal because we’re the host, and I’m definitely going to prepare for that,” she says, “Not just me but every Filipino athlete is going to prepare for that. We want to show what we are really capable of.”

 Spreading the gospel

Despite the success of a few homegrown talents in Brazilian Jiu-Jitsu, Rulloda admitted that it still has a lot of work to do to adapt to Filipino taste. “The growth has been steady through the years. However, the biggest hindrance to the growth of the art is the lack of awareness of what really happens in an actual self-defense situation and how Jiu-Jitsu can be an effective tool for it,” he stresses. “The sporting aspect has a slow progress because the low awareness level leads to low exposure and that results in difficulty of getting sponsorships for deserving athletes.”

To help in this cause, Rulloda stages a yearly tournament called Arte Suave Manila. It started in 2015, and aims to excite at a grassroots level. “Whatever noise this event will create is going to help the future of these athletes. I want them to get exposed, I want them to be discovered, and I want them to get sponsors,” he reveals.

The two-day competition originally focused on white and blue belters, but it opened its doors to purple belts in 2016. One of its main attractions is the submission-only super-fights, where combatants will contend in a ten-minute match. If there is no submission by the end of the given time, a draw will be declared.

Arte Suave Manila is set to hold its fifth annual event from October 19 to 20 at the Commercenter Alabang in Muntinlupa, and Rulloda is expecting a promising turnout. “It is a league by fighters, for fighters. The sport is growing in the country, and so we’re expecting to see high-level Jiu-Jitsu displayed on the mats again this year,” he promises.

Rulloda reiterates that Filipinos have the potential to do great things in the sport. “We can take Jiu-Jitsu to the next level, not only here in our country, but to the Asian level, and even worldwide,” he declares.

...the emerging market for digital currencies

PHL is an emerging market for digital currencies - Citi

 

 

GMA News

February 21, 2014

A newly-released study commissioned by financial giant Citi has put the Philippines in the group of “emerging markets” in terms of use of digital money:

 

The study also picked the Philippines and Greece to illustrate that two countries within the same stage can face different challenges, and may even have to improve in vastly different areas. The report noted that investments in enabling infrastructure may be a priority for some countries. For others, lack of strong private sector may be a far bigger barrier.

 

 

“Both countries are a similar stage, but require a clear difference in priorities, with the Philippines needing to focus on market efficiency and corporate use-case accelerators, and Greece needing to focus on improving the ICT infrastructure and adoptio,” the report said.

 

 

 

— Newsbytes.ph

...the PHL global economic index

Philippines leapfrogs 25 places in global biz growth index

            

By Jovan Cerda

philstar.com

September 16, 2013

 

 

MANILA, Philippines - The Philippines posted its biggest climb in a global index of dynamic business growth environments, British-based advisory firm Grant Thornton International reported on Monday.

The country leapfrogged by 25 places to land at the 21st spot in this year's Global Dynamism Index (GDI), improving the most among 60 countries included in the report.

“The fast-paced growth of the Philippine economy certainly underlined our substantial rise in this year’s GDI. This means our business growth environment improved quicker than any other country in 2012,” said Marivic Españo, chair and chief executive officer of Punongbayan & Araullo (P&A), the Grant Thornton member firm in the Philippines.

Among countries in the Association of Southeast Asian Nations included in the report, the country ranked behind Singapore (7th), Malaysia (13th) and Thailand (19th), and ahead of Vietnam (27th).

Australia, Chile, China, New Zealand and Canada topped the list while Ukraine, Italy, Kenya, Algeria and Greece placed at the bottom.

On the area of economics and growth, the Philippines jumped by 11 places to tie at fourth place with Peru. It posted the biggest improvement in terms of labor and human capital, galloping by 40 places to rank fifth globally.

“I think the key point here is that the Philippines is starting to realize its potential domestically. Aside from remittances, which have recovered well since the global financial crisis, private construction and government spending on infrastructure contributed to our above-target expansion. Domestic demand in the form of private investment and consumer growth has also helped the country outpace its Southeast Asian neighbors, which are showing signs of slowing down,” Españo said.

In terms of science and technology, however, the country ranked 51st, indicating the lack of infrastructure improvements needed for businesses to expand. P&A said while spending on information technology improved by 9.5 percent last year, it only translated to 0.1 percent of the country's gross domestic product, the fourth lowest among the 60 economies studied.

“The government recognizes that local infrastructure needs to be improved. Eighty public-private partnerships with around $17.6 billion of capital to boost the investment environment were supposed to be launched between 2011 and 2016, but progress is well behind schedule. Add to this a rank of 44 for business operating environment, which looks at how easy and risky it is to operate in an economy, and you can clearly see there is some room for improvement,” Españo said.

“The good news is that both total and worker output is expanding rapidly. The key now is to combine this growth with infrastructure and operating environment improvements. With the right mix of policies in place, our economy could offer even more opportunities for dynamic businesses,” she added.

 

...the Dragon fireworks

Dragon Fireworks, representing Philippines, wins pyrotechnics gold in Germany    


By: Tricia Aquino, InterAksyon.com
September 11, 2013

 

 

 

 

The Philippine contingent to the Pyronale fireworks championship in Berlin, Germany, bagged the gold Saturday, besting five other competitors from Europe.

Dragon Fireworks put on a 15-minute pyrotechnics display titled, "Here comes the dragon", set to the tune of both local and foreign music such as: "Piliin Mo Ang Pilipinas" by Angeline Quinto, "Tinikling", "Tanging Yaman" by Carol Banawa, "Vivaldi vs. Vertigo" by David Garrett, "Business Part 1" by Craig Armstrong, "Cerberus" by Audiomachine, and "For The Win" by Two Steps From Hell.




The company, described by Pyronale as the largest fireworks manufacturer in the Philippines, began "as a consumer fireworks manufacturer making products like rockets or fountains before turning to professional display shells and special effects."

Spain was awarded the silver prize, while Finland got the bronze. Croatia, Poland, and Greece also competed.

...the PHL medalists at Czech rifle meet

PHL team wins six medals at air rifle meet in Czech Republic

August 30, 2013

GMA News

 

 

The Philippines won six silver medals at the 2013 Rimfire and Air Rifle Benchrest Federation (WRABF) European and World Cup Championship at the Plzen Shooting Range in Plzen, Czech Republic from August 3 to 15.

According to the Department of Foreign Affairs (DFA), the Philippine National Benchrest Team includes the country’s top benchrest shooters.

"Participating countries include Australia, Brazil, Bulgaria, Czech Republic, Finland, Germany, Great Britain, Greece, Ireland, Italy, the Netherlands, Russia, Slovenia, South Africa, Sweden, Thailand, Ukraine, and Venezuela," the DFA said in a news release.

The WRABF Championship is held every four years, and is the biggest so far with over 130 registered competitors.

Winning the medals were the Heavy Varmin Team of Bernie Paras Gan, Louie Gonzales, and Randy Paronda in the 25 meters rimfire; and the Sporter Team of Dondi Santos, Marlon Palmario, and Felino Neri in the 50-meter rimfire event.

Mission chief Richard Fernandez, team statistician Mariano Manuel Cacho III, Team Captain Tony Olbes, Co-captain Enchong Formoso, Team Coach Randy Paronda, and Gun Smith and Athlete Ronaldo Hejastro led the mission.

The 19-member team consists of Josefino Alvero, Eleuterio Canivel, Jose Maria Esteban, Augusto Estrada, Lorenzo Formoso, Augusto Gan, Bernadette Gan, Luis Gonzales, Edwin Jeremillo, Frumencio Lagustan, Eugene Manalastas, Jimmy Maniwang, Felino Neti, Antonio Olbes, Marlino Palmario, Randy Paronda, Maria Blanca Parsons, Francis Purez, and Paulo Santos.

"(A)lthough this is the first time that the Philippine team joined the World Cup, Filipinos must be proud of the Philippine benchrest shooting team’s excellent showing in the shooting matches" Philippine Chargé d’affairés Consul and First Secretary Juan Dayang Jr. said.

Dayang added the Philippine team earned the respect of powerhouse international benchrest shooters through their hard work, dedication and sportsmanship. - VVP, GMA News

 

 

...the stock market bull run

No stopping bull run in Philippines

 

Philippine Stock Exchange Index now Asia's most expensive in what is seen as an Aquino-led rally

 

 

Business Times (Singapore)

February 20, 2013       

 

Chasing away the bears: Dragon dancers at the Philippine Stock Exchange help usher in the year of the snake. Global players are upbeat about the nation's prospects citing a clean, honest government, pro-business climate and impressive stock valuations. - PHOTO: AFP

 

 

THE world's biggest equity bull market is propelling Philippine valuations to all-time highs as international investors pile into the country's stocks in an endorsement of President Benigno Aquino's economic policies.

The Philippine Stock Exchange Index climbed 13 per cent this year till yesterday, bringing gains since October 2008 to 285 per cent, at least 124 percentage points more than every other bull market in emerging and developed nations, according to data compiled by Bloomberg. The index turned into Asia's most expensive from the second-cheapest four years ago as rallies in Ayala Land Inc and Bank of the Philippine Islands lifted the gauge to 19 times estimated profits.

Aquino's efforts to boost spending on government projects and tackle corruption are convincing foreign investors to look past the nation's speculative-grade credit rating and focus on the third-fastest growth in Asia after China and Thailand. While Invesco Ltd says shares are too expensive, Samsung Asset Management and Religare Capital Markets see further gains of at least 20 per cent and an investment-grade ranking this year.

"Funds will remain net buyers," Alan Richardson, who helps oversee about US$110 billion as a money manager at Samsung Asset in Singapore, said in a Feb 6 email. "The focus is on opportunity and growth rather than contraction caused by deleveraging, bank recapitalisation, fiscal austerity and increased regulatory oversight in many of the developed economies."

The benchmark gauge for the nation's US$236 billion equity market rose 0.9 per cent, the biggest gain in Asia today, to a record 6,620.72. The bull market, defined as an advance of at least 20 per cent from the most recent low without a drop of the same magnitude on a closing basis, is the biggest since Bloomberg began compiling Philippine index data in 1987.

Mexico's IPC Index has climbed about 161 per cent since March 2009, making it the second-biggest bull market among 45 emerging and advanced countries, while the Standard & Poor's 500 Index is up 125 per cent from a low in the same month. In China, the biggest emerging market, the Shanghai Composite Index has increased 24 per cent from its Dec 3 low.

Philippine shares will probably return about 38 per cent by the end of 2014, according to Samsung's Mr Richardson. The benchmark index may rally 20 to 30 per cent this year, said John Sturmey, head of equity capital markets at Religare Capital Markets, a unit of New Delhi-based Religare Enterprises Ltd.

"We are very bullish on the Philippines for this year and the following years," Mr Sturmey said in a Feb 5 interview in Manila.

Foreign investors purchased a net US$819 million worth of shares in Asia's 12th-biggest stock market this year, 120 per cent more than during the same period a year ago, according to Philippine Stock Exchange data compiled by Bloomberg. The nation of about 100 million people recorded US$2.5 billion of inflows last year, the most since Bloomberg began tracking the data in 2000.

Stronger peso

Growing confidence in the economy is also boosting the nation's currency and debt. The peso has appreciated 5 per cent against the dollar during the past 12 months, the most in emerging markets
and reached the strongest level since 2008 last month at 40.55 to the dollar.

Yields on local-currency debt, rated BB+ by Standard & Poor's, fell to a record 3.76 per cent on Jan 28, according to the JPMorgan GBI-EM Philippines Index. The cost to insure government bonds, rated one level below investment grade, against non-payment for five years using credit-default swaps was 103 basis points yesterday, data compiled by Bloomberg show. That compares with 121 for Brazil, whose foreign-currency debt is rated two levels above the Philippines.

Philippine gross domestic product increased 6.8 per cent from a year earlier in the fourth quarter, compared with 7.9 per cent in China. The euro region contracted during the period, while the US expanded 1.5 per cent.

Mr Aquino plans to boost spending to a record and seek more than US$17 billion of infrastructure investments to spur growth of at least 6 per cent this year. Projects to build a toll-road south of Manila and more than 9,300 classrooms have already been announced since he took office in June 2010.

The 53-year-old president has narrowed the budget deficit by cracking down on tax evasion and raising taxes on liquor and tobacco. The gap was probably 2.3 per cent of GDP in 2012, Budget Secretary Butch Abad said in a Feb 14 interview in Manila. That's down from 3.5 per cent in 2010, according to Philippine Department of Finance data.

Mr Aquino, who had a 66 per cent approval rating in a January survey conducted by Pulse Asia, has also focused on reducing corruption. Renato Corona, the country's top judge, was ousted in May for illegally concealing his wealth.

The Philippines was ranked 105 on Transparency International's 2012 Corruption Perceptions Index, an improvement from 134 in 2010. (A lower ranking signals less corruption.)

"The macro environment looks very positive and the Philippines probably has the cleanest government in its history," Alistair Thompson, deputy head of Asia Pacific ex- Japan equities at First State Investments in Singapore, said in a Jan 16 phone interview. "Companies are very optimistic." His firm oversees about US$147 billion.

Philippine stock valuations already reflect the good news, according to Paul Chan, the Hong Kong-based chief investment officer for Asia ex-Japan at Invesco, which oversees about US$713 billion.
The benchmark index's valuation of 19 times projected 12-month earnings is the highest since Bloomberg began compiling the data in January 2006 and 46 per cent more expensive than the MSCI All-Country World Index. The Philippine gauge has the world's second-highest multiple after Greece's ASE Index, which trades at 22 times estimated profits, the data show.

Ayala Land, a Manila-based developer, is valued at 39 times 2013 profit forecasts, more than twice the median multiple for global peers, according to the average of 14 projections compiled by Bloomberg.

Bank of the Philippine Islands, the country's biggest lender by market capitalisation, trades for four times net assets, versus the 1.6 industry average.

Earnings outlook

Earnings-per-share in the Philippine index will probably increase 14 per cent in the next 12 months, versus 25 per cent for the MSCI All-Country gauge, according to analyst estimates compiled by Bloomberg.

"The Philippines is a very crowded market," Invesco's Mr Chan said in a Feb 7 phone interview. He cut Philippine positions to less than 1 per cent of total holdings from "much higher" levels last year and prefers shares in China and South Korea, where price-earnings ratios are about half the level of the South-east Asian nation's.

There is "probably room" for Philippine stock valuations to climb as long as growth in earnings and the economy can be sustained, Hans Sicat, president of the country's bourse, said in a Feb 15 interview in Tokyo.

First State's Mr Thompson said he purchased shares of Manila-based BDO Unibank Inc after visiting the country in November. The nation's second-biggest bank by market value trades for 2.2 times net assets, about half the multiple of Bank of the Philippine Islands.

"We remain positive," Douglas Cairns, an investment specialist for Asia and emerging-market equities at Threadneedle Investments in London, which oversees about US$122 billion, said in an email on Feb 7. Mr Cairns said the firm has overweight holdings in Philippine shares, meaning positions exceed the country's representation in benchmark indexes.

An investment-grade credit rating may open Philippine capital markets to pension funds and endowments that have avoided the country, according to Samsung Asset's Mr Richardson.

The rating will probably be upgraded in the first half, central bank Governor Amando Tetangco said in a Bloomberg Television interview on Jan 25. S&P raised its outlook to positive from stable on Dec 20, citing the stability of Mr Aquino's administration and economic growth. GDP will probably increase 6 to 7 per cent this year and accelerate in 2014, Economic Planning Secretary Arsenio Balisacan said at a forum in Manila on Feb 13.

Investors should add to their stock holdings on any declines, Christopher Wood, a Hong Kong-based strategist at CLSA Asia-Pacific Markets who recommends a bigger overweight position in the Philippines than any other equity market in Asia excluding Japan, said in a Feb. 7 report. "In such a structural bull market, those investors who focus too much on valuations sell way too early." - Bloomberg

...the PH financial market

Financial markets roll into record territory

 

Philstar

27 November 2012

MANILA, Philippines - Local financial markets rolled into record territory yesterday, as a generally upbeat investor sentiment pushed the peso and the stock index to new highs, and Treasury bill rates to historic lows.

Analysts attributed the strong performance to renewed confidence on developed nations solving their debt problems, as well as optimism in the strength of the local economy.

At the Philippine Stock Exchange, the benchmark PSEi closed 27.08 points or 0.5 percent higher yesterday at 5,579.42 – a new all-time high.

Considered an immediate gauge of investor confidence, the 30-company PSEi has hit record highs a total of 29 times so far this year.

Trading, however, was mixed as advancing stocks almost equaled decliners, 77 to 76, while 51 other issues were unchanged.

Market players had anticipated a pullback in the PSEi this holiday-shortened week following a torrid performance the past week, with the index reaching peak three times.

This as local equities, along with other stock markets in Asia, continue to cheer on positive economic data in the US, offsetting concerns about Greece’s financial crisis.

Asian stock markets posted slight gains yesterday after the unofficial start of the holiday shopping season in the US topped expectations.

The peso, on the other hand, broke to a fresh 56-month high of 41 to a dollar – its strongest close against the greenback since hitting 40.85 on March 7, 2008. It was also firmer than the 41.05 posted last Friday.

Funds also went to government bonds. At the auction yesterday, yield of the 364-day Treasury bill (T-bill) hit a record low 0.549 percent. The government awarded P4 billion as planned.

“There was positive sentiment in the global markets bolstered by confidence in the improving US economy. There was some good data coming from the US,” Astro del Castillo, managing director at First Grade Finance Inc., said in a phone interview.

Stores in the US have reopened following the Thanksgiving holiday and analysts are forecasting good consumer spending on “Black Friday,” usually the busiest shopping day for the year in the world’s biggest economy.

Surveys showed a record 247 million shoppers visited stores and websites between Thursday and Sunday, up 9.2 percent from the year before.

This bodes well for the country, which has been hit by slowing growth partly because of its huge debt and budget deficit, four years after the worst financial downturn since the Great Depression in the 1930s.

In addition, Del Castillo said there was also optimism on the outcome of the euro zone finance ministers meeting which will happen tonight, Philippine time.

Finance ministers from the countries that use the euro currency will meet to try to reach an agreement for Greece to receive the next installment of its emergency bailout loan. Athens needs the money to avoid bankruptcy.

A trader at a local bank agreed, noting that investors are positive the 17-nation bloc will come into an agreement to give Greece, its debt-ridden member, the second tranche of its bailout approved last May.

“In general, other currencies in the region also gained today due to risk-on sentiment,” a trader at a local bank said in a phone interview.

“There was also confidence on talks to deal with the US ‘fiscal cliff,’” he added, pertaining to negotiations among US legislators on how to avoid huge spending cuts and higher taxes which will kick in by yearend.

Investors have also been focused on whether the White House can come to a deal with Congress to avoid automatic tax increases and spending cuts at the start of next year. Investors remain confident that their worst fears — a US recession and a Greek exit from the euro — will be averted.

“Talks have halted due to the holiday but the market is optimistic because of the constructive description (on the talks) mentioned days ago,” the trader explained.

For her part, National Treasurer Rosalia de Leon pointed to “still manageable inflation outlook” for the lower rates fetched at the auction. Inflation as of October is at 3.2 percent, within the government’s official three- to fi five-percent target – fi ve-percent target. with AP - By Prinz P. Magtulis (Philstar News Service, www.philstar.com)

...the IMF forecast

IMF maintains growth forecast for ASEAN

 

July 16, 2012

GMA News

 

 

The International Monetary Fund has maintained its 5.4-percent average growth forecast for the ASEAN-5, which includes the Philippines.

But it cut its global growth projection to 3.5 percent amid the perceived worsening of the eurozone debt crisis in recent months. The latest global growth forecast was slightly lower than the 3.6 percent the IMF made in April. 

 

“The euro area periphery has been at the epicenter of a further escalation in financial market stress, triggered by increased political and financial uncertainty in Greece, banking sector problems in Spain, and doubts about governments’ ability to deliver on fiscal adjustment and reform as well as about the extent of partner countries’ willingness to help,” the IMF said in its latest World Economic Outlook. 

 

The IMF said emerging markets like the Philippines will not be immune from the adverse impact of the prolonged debt woes in the eurozone. Nonetheless, it said that the ASEAN-5, which also includes Indonesia, Thailand, Malaysia, and Vietnam, will manage to grow as initially estimated given their relatively better economic fundamentals. 

 

But the IMF said emerging economies must brace for likely anemic export earnings over the coming months as foreign demand for their goods are dampened by the crisis in the eurozone.

 

“In emerging and developing economies, policymakers should stand ready to adjust policies, given spillovers from weaker advanced economy prospects and slowing export growth and volatile capital flows,” the IMF said.

 

For 2013, the IMF expects the global economy to grow at a faster clip of 3.9 percent. Consequently, it said, the ASEAN-5 may also grow faster at 6.1 percent. 

 

The latest 2013 projection for world economic growth is a revision from the previous forecast of 4.1 percent. Similarly, the latest growth forecast for the ASEAN-5 is lower than the original 6.2 percent. — DVM, GMA News

...the Q2 growth

Stronger Second Quarter Growth Seen

By EDU H. LOPEZ

July 13, 2012

Manila Bulletin

MANILA, Philippines – Higher electricity sales growth, easing inflation rate, improving exports, better agricultural output and the creation of a million jobs are pointing towards an even faster output growth in the second quarter of 2012 from the 6.4% gross domestic product (GDP) growth posted in the first quarter.

The latest report of FMIC and UA&P capital market research predicts that with better agricultural harvests and more infrastructure spending, GDP growth in the second quarter to even exceed the 6.4% expansion recorded in the first quarter.

“The upgraded outlook for the second quarter GDP expansion is more remarkable given the slowdown of the US economy and China and the lingering banking and debt crisis in the Euro-zone.”

“The outcome was fairly positive with no Greece exit from the Euro-zone followed by some concessions by Germany in favor of growth for beleaguered Spain and Italy,” the report noted.

The report expects an even better GDP growth performance in the second quarter with Meralco electricity sales rising by 11.8% in May from 8.3% recorded in April.
 
With the economy’s strong rebound in the first quarter, labor employment also increased by  one million for the year ending April 2012.
 
“Despite an increase in the labor force participation rate to 64.7% from 64.2% a year ago, the labor force survey (LFS) of the National Statistics Office (NSO) showed a decline in the unemployment rate to 6.9% down from 7.2% in January 2012 and April 2011 even as total labor force expanded by 2.5% over the same period.”

Inflation would likely average 2.9% as compared to year-on-year growth as well as quarter-on-quarter mainly due to the unabated fall in oil price for the whole of June, the report said.

“Exports are likely to average a 5% growth in the second quarter with slightly better prospects in the second semester. The latter period will be characterized by domestic demand stimulus in China and election spending in the U.S.”

FMIC and UA&P forecasts that monetary policy to remain neutral for the rest of the year, even though the BSP has scope and need for further easing in order to narrow the differential between domestic and foreign interest rates.
 
With favorable conditions in the financial markets, and stable gains in remittances from overseas Filipino workers (OFWs), the peso-dollar rate will have an appreciation bias for most of the second semester, the report added.

...the new creditor

Palace: $1B IMF pledge is a case of paying it forward

 

AMITA LEGASPI,

GMA NEWS

June 21, 2012

 

 

“Now that we (the Philippines) have been considered a creditor nation, we feel it is our obligation to assist those nations who require funding from then IMF,”  - Presidential Spokesperson Edwin Lacierda

 

 

Malacañang described on Thursday the government’s decision to extend a $1 billion pledge to the International Monetary Fund as “paying forward” the international organization as it has in the past assisted the Philippines during times of crisis.

 

“Now that we (the Philippines) have been considered a creditor nation, we feel it is our obligation to assist those nations who require funding from then IMF,” Presidential Spokesperson Edwin Lacierda said at a press briefing.

 

He said the country had been a recipient of IMF assistance for the past 40 years.

 

Lacierda expressed confidence that the IMF “will act judiciously on the funds” which is expected to help in stabilizing the crisis in Europe.

 

He said there is now a $456 billion standby fund for that purpose and the “Philippines contributed one billion dollars to that fund.”

 

Lacierda said the fund is kind of investment in global stability.

 

“It is our responsibility; it is part of our obligation,” said Lacierda.

 

Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said Wednesday that the $1 billion pledge extended by the Philippines will earn interest while helping other countries beset with financial problems.

 

The pledge to the IMF fund marks the third time that the country has extended a helping hand to other countries that were in troubled fiscal waters. 

 

Since 2010, the Philippines has lent $251.5 million to distressed European countries Greece, Portugal and Ireland.  The country also pitched in $4.55 billion to another buffer fund, the Chiang Mai Multilateral Initiative. — DVM, GMA News

...the World Mayor prize nominee

Three PH Mayors vying for World Mayor Prize

By Shielo Mendoza

Yahoo! Southeast Asia Newsroom

16 April 2012 

 



Three city mayors from the Philippines are vying for the 2012 World Mayor Prize, an award given to outstanding mayors worldwide.

Manila Mayor Alfredo Lim, Angeles City Mayor Edgardo Pamintuan and Davao City Mayor Sara Duterte-Carpio were among the award's initial candidates, the City Mayors Foundation published last week.

 



Mayor Alfredo Lim, Manila



Mayor Edgardo Pamintuan, Angeles City



Mayor Sarah Duterte, Davao City

“The prize is awarded to a mayor who has made outstanding contributions to his/her community and has developed a vision for urban living and working that is relevant to towns and cities across the world,” the international foundation said in its website.

As of this month, 88 mayors from all over the world were nominated for the award – 16 from North America, 13 from Latin America, 30 from Europe, 19 from Asia, three from Australasia and seven from Africa.

Online nominations will be accepted until mid-May while a shortlist of 25 nominees will be published in early June. Winners and other results of the World Mayor Project will be announced in December.

“When contemplating the shortlist for the 2012 World Mayor Prize, the City Mayors Foundation will take into account the number of nominations a mayor has received from separate individuals and organizations and, more importantly, the persuasiveness of supporting statements,” it said.

Previous winners of the award were Marcelo Ebrard of Mexico City in 2010, Helen Zille of Cape Town in 2008, John So of Melbourne in 2006, Dora Bakoyannis of Athens in 2005, and Edi Rama of Tirana in 2004.

Meanwhile, three Philippine city mayors have made it to the top 10 since its establishment in 2004: then Marikina City mayor Marides Fernando ranked 7th in 2008; former Makati mayor now vice president Jejomar Binay placed 4th in 2006; and still incumbent mayor of San Fernando, Pampanga, Oscar Rodriguez, bagged the 4th spot in 2005.

The City Mayors Foundation, an international think tank on urban affairs, said it organized the World Mayor Prize to “honor mayors with the vision, passion and skills to make their cities incredible places to live in, work in and visit.”

The winner will receive the artistically acclaimed World Mayor trophy, while the runner-up will be given the World Mayor Commendation, it added.

...the buzz

Philippine stocks up on credit rating upgrade buzz

 

 

VICTOR D. SOLLORANO,

GMA News

March 13, 2012 4

 

 

Philippine stocks rose in active trading Tuesday, boosted by speculations about a credit rating upgrade from Moody’s Investors Service.
 
“We started slow, but news of that Moody’s might the Philippines a credit rating upgrade” allowed the market step up its tempo, said Ghia Yuson, research analyst at First Metro Securities Brokerage Corp.
 
The main Philippine Stock Exchange index gained 30.58 points or 0.61 percent to close at 5,005.75.
 
Over 5.937 billion shares valued at P8.446 billion were traded during the morning and afternoon session.
 
Advancers led decliners 91 to 77, while 39 issues closed unchanged.
 
The fact that other markets in the region were up helped place the sentiment among Philippine investors on the upbeat, said Yuson.
 
“And the volume was pretty good, compared with the turnover since last week,” she added.
 
Moody’s said in a report the gains made by the Philippines on fiscal reforms and debt reduction will likely continue this year.
 
“We expect tax revenues to continue improving owing to administrative measures to further enhance compliance, and a legislative agenda that aims to increase certain excise taxes and reduce extraneous fiscal incentives for investment,” said Moody’s assistant vice president and analyst for Sovereign Risk Group Christian de Guzman.
 
“Asian markets rose on Tuesday with traders expecting the final go-ahead for Greece's second bailout soon, while they also had their eyes on key central bank meetings in Japan and the United States,” according to an Agence France-Presse report.
 
“German Finance Minister Wolfgang Schaeuble lifted spirits when he said on Monday that the remainder of a multi-billion-euro package of loans from eurozone governments under a second Greek bailout would be signed off this week,” the French news agency added. — TJD, GMA News

...the borrower becomes the creditor

PH enters IMF creditor list, lends to EU countries

ABS-CBNnews.com

Posted at 02/21/2012

Gone are the days when the Philippines could only borrow from the International Monetary Fund (IMF).


MANILA, Philippines - Gone are the days when the Philippines could only borrow from the International Monetary Fund (IMF).

With record foreign exchange reserves, the country became a creditor in the IMF system in 2010, lending to troubled nations in Europe, the Bangko Sentral ng Pilipinas (BSP) reported Tuesday.

As of end-2011, the country infused $251.1 million in the IMF's Financial Transactions Plan (FTP), a mechanism by which foreign exchange from members with strong external position are lent to borrowing members.

More than half of the amount made available by the Philippines went to European countries such as Ireland, Portugal and Greece, in an effort to adderss the financial crisis impacting the euro zone, the BSP said.

"By virtue of their participation in the FTP, emerging market economies like the Philippines have joined international cooperation efforts to mitigate the spillover effects of Europe's sovereign debt crisis by enhancing global financial safety nets," the central bank noted.

The Philippines' gross international reserves reached $63.4 billion in 2010, helping reverse its IMF membership status from borrower to creditor-country. This came four years after the country prepaid all its outstanding debt to the IMF, ending nearly 45 years of its use of the multilateral lender's resources.

As of January this year, the Philippines' reserves hit a historic high of $77.36 billion.

In the region, the BSP said the Philippines is also a contributor to the Chiang Mai Initiative Multilateralization (CMIM) facility, a $120 billion pooling arrangement among ASEAN countries that aims to provide quick liquidity access in case of balance of payments difficulties. The Philippines has committed to contribute $4.552 billion to the CMIM. 

---

...the all-time high index

Philippine stocks surge to an all-time high in liquidity-driven rally; PSEi up 2.39%

By VICTOR D. SOLLORANO,

GMA News
February 17, 2012

Share prices on the Philippine Stock Exchange surged to an all-time high in a liquidity-driven rally on Friday, boosted by hopes of a bailout package for debt-ridden Greece and positive economic data from the US.

The main PSEi rose 114.14 points or 2.39 percent to close at 4,880.1, following three successive days of declines.

More than 9.895 billion shares valued at P8.292 billion were traded.

“This is a liquidity-driven rally,” said Mark Angeles, head of research at First Metro Securities Brokerage Corp.

“There are liquidity flows recurring… coming in with the optimism on US jobs data” and the bailout package for Greece, said Angeles.

The previous PSEi high was on Feb. 2, 2012 at 4,822.08 points.

Year-to-date, the PSEi has gained 11.6 percent. Friday's performance was also the index's highest point growth since October 7, 2011 when it posted a gain of 118.74 points, the PSE said in a statement.

This was also the index's highest percentage growth since October 7, 2011

when it posted a gain of 3.1 percent.

Intraday, the PSEi hit a new high at 4,886.99 points surpassing the previous

record intra-day level of 4,855.00 points posted on February 6, 2012.

"Hopes towards a second bailout for Greece as well as positive data on the US jobs and housing markets have boosted today's trading following tepid market movement in the past days. Strong corporate and local fundamentals have in turn pushed the market further as the gains we posted today topped the other market rallies in Asia." said PSE president and CEO Hans B. Sicat.

Other Asian markets reacted positively to those developments.

“Asian shares rebounded on Friday on signs euro zone officials will soon approve a long-awaited bailout for Greece, reducing the risk of a debt default, and after jobs and manufacturing data pointed to a healthier US economy," according to a Reuters.

MSCI's broadest index of Asia Pacific shares outside Japan rose as much as 1.4 percent, recovering most of the losses during Asia's trading day on Thursday when worries about a delay in signing a Greek deal sparked fears of a Greek default, the Reuters report noted.

US jobless claims unexpectedly fell last week to a near four-year low, January housing starts came in better than forecast, and the pace of factory activity in the US Mid-Atlantic region gained momentum in February.

The Standard & Poor's 500 Index rose to 1,358.05 on Thursday, a nine-month high, boosted by the US data.

"Sentiment has brightened to encourage risk taking," said Masayuki Doshida, senior market analyst at Rakuten Securities.

"An easy monetary environment continues, with another liquidity injection scheduled later this month from the European Central Bank and expectations a March default by Greece can be avoided spurring 'risk-on' momentum," he said.

Euro zone officials said on Thursday they were putting the finishing touches to a second bailout deal for Greece for approval on Monday, with a focus on how Greece can prioritize debt repayment and ways to ensure Athens commits to reforms.

As global central banks create money, the financial system gets awashed with cash, said First Metro’s Angeles.

“Creating such liquidity drives equities higher and bond yields lower,” Angeles added.

Winners led losers 123 to 56, with 28 issues closing unchanged during Friday’s trading on the PSE. — With Reuters/KG, GMA News

...the world's best islands

Boracay world's 4th best island

By ROBERT R. REQUINTINA

July 17, 2011

Manila Bulletin

MANILA, Philippines -- Boracay Island in the Philippines has been named the fourth Best Island in the world, in the 16th annual “World’s Best Awards” released by an influential American travel and leisure magazine.
 

Known for its white sand beaches, Boracay Island in Aklan received a score of 89.83 in the annual Top 10 Best Island list this year as surveyed by Travel + Leisure Magazine.
 
The Top Island award went to Santorini, Greece, 90.61; Bali, Indonesia was second with 90.45, and Cape Breton Island, Nova Scotia, 89.90, third.
 
Other islands which made it to the list are the Great Barrier Reef Islands, Australia, 89.68; Sicily, Italy, 89.51; Big Island, Hawaii, 89.11; Kauai, Hawaii, 89.11; Maui, Hawaii, 88.59 also in Hawaii.; and Galapagos, 88.22.

For the Top Island category, the readers voted for natural attractions, activities/sights, restaurants/foods, people, and value.

In the Top 10 cities, Bangkok, Thailand, was the top choice, with a score of 90.49. Second was Florence, Italy, 89.92; and Rome, Italy, 88.45, third.
 
Other top cities in ranking were New York City, USA, 88.40; Istanbul, Turkey, 88.18; Cape Town, South Africa, 88.06; Siem Reap, Cambodia, 87.90; Sydney, Australia, 87.84; Barcelona, Spain, 87.83; and Paris, France, 87.78.

In the Top 10 Hotel Spas category, Discovery Shores also on Boracay Island was ranked No. 7, with a score of 95.63.

The top honor went to Sofitel Queenstown Hotel and Spa in New Zealand, 98.93.
 
Travel + Leisure is 74-year-old magazine based in New York City. It is published by the American Express Publishing Corporation, a wholly owned subsidiary of American Express Company led by President and chief executive officer Ed Kelly.