...the Azkals drive

Azkals make history in victory over Tajikistan

 

By Dennis Gasgonia,

ABS-CBNnews.com

03/13/2012

 

 

Phil Younghusband scores a goal against Tajikistan.

MANILA, Philippines (1st UPDATE) – The Philippine Azkals continued their Cinderella run in the 2012 AFC Challenge Cup by barging into the semifinals with a historic win over Tajikistan on Tuesday.

The Philippine side toppled another former champion in Tajikistan, 2-1, at the Halchowk Stadium in Kathmandu to catch the last ride for the Challenge Cup semis.

Phil Younghusband and Angel Guirado scored the crucial goals in the 53rd and the 80th minute of the game to bring the Azkals to the next round.

With the win, the Azkals achieved their initial target of duplicating the same feat they attained in the 2010 Suzuki Cup.

“We've always wanted to go to the semis. This is the first time that the Philippines have actually entered the final stage,” Azkals team manager Dan Palami said.

This was the second straight win by the Azkals against a former Challenge Cup champion.

Prior to their game against the Tajiks, the Filipinos pushed 2008 titlist India out of contention with a 2-0 beating last Sunday.

Surprise in first half

Although Tajikistan enjoyed more ball possessions in the first half, the Filipinos were consistent in attacking the Tajiks’ goal.

Younghusband, who scored two goals against India, had attempts in the 2nd and 8th minute.

Guirado also struck a header in the 28th minute, but his shot sailed over the crossbar.

The Tajiks, however, pulled off a stunner in first-half injury time when an Alexey-Negmatov-header went through the Azkals' goal line.

The Filipinos appealed before the referees, but game officials ruled in favor of the Persian Lions and gave them a 1-0 advantage over the Azkals.

Fightback

Minutes into the second half, the nationals fired back at their Central Asian counterparts.

Younghusband equalized the game for the Philippines by scoring a goal off a pass from Guirado.

This leveled the score to 1-1 in the 53rd minute.

After failing to convert a goal in the 78th minute, Guirado pushed the Philippine side to a 2-1 lead against the Tajiks with a header in the 80th minute.

The Persian Lions tried hard to equalize the game, but they fell short in the face of the Azkals’ defense.

The Philippine side was the more aggressive team, with 14 shots at the goal against Tajikistan's 7.

This forced the Tajik keeper to work extra hard with 11 saves, compared to Neil Etherdige's 2 saves.

The Azkals also had 7 shots on target compared to the Tajiks' 5.

The Philippines will join defending champion North Korea, Turkmenistan and Palestine in the semifinal round.

The Azkals earned a qualification in the 2012 Challenge Cup final group by carving out a sensational 3-0 win over Mongolia in March 2011.

Semifinals

The Philippine Azkals will now have to go through 2010 runner-up Turkmenistan to earn a ticket in the Challenge Cup finals.

The two teams will square off on Friday.

The Azkals appear to be the stronger team on paper as they enjoy a higher FIFA ranking than Turkmenistan.
In the FIFA rankings, the Philippines is No. 156, while Turkmenistan is ranked 166th.

However, the Azkals will have to play the semifinal match minus 2 key players.

Guirado and James Younghusband each incurred their second yellow card in the Tajikistan game.

The two Azkals were also penalized during the Philippines’ skirmish against India.

Team coach Michael Weiss is expected to make adjustments to fill in the void left by James and Guirado.

Although making it to the semis was the team’s initial goal, Palami said the Azkals are ready to push their campaign toward the the Challenge Cup finals.

“If we make it to the finals, that will be a dream come true," he said. 

...the surprise export growth

PH exports surprise points to stronger growth

 

By Erik dela Cruz and Karen Lema,

Reuters

03/13/2012

 

MANILA, Philippines - Exports unexpectedly rose in January as demand from its major markets jumped, a positive start for the Southeast Asian economy after a disappointing 2011 and further evidence that global demand conditions could be improving.

Exports rose 3% in January from a year earlier, and the first rise since last April came as a surprise to a market looking for a fall similar to December's 18.9% drop.

Economists said the Bangko Sentral ng Pilipinas was now likely to hold the main interest rate at a record low after cutting it at the first two reviews of 2012.

"This unexpected recovery was likely largely due to the upside surprise in economic activity globally towards the end of 2011, especially in the U.S. and Japan, as well as relatively stabilisation of China's slowdown," HSBC economist Trinh Nguyen said.

Shipments to the country's three top markets -- Japan, the United States and China-- all grew by double-digits in annual terms in January after falls in December, although Europe remained weak.

Electronics, which make up more than half of total shipments, grew -- a modest 0.4% in annual terms, but the first rise in a year was welcome news particularly after five straight months where they had fallen between 29% and 48%.

HSBC's Nguyen estimated that electronic shipments rose 20.3% from December in seasonally adjusted terms.

Turnaround

"It seems to be supported by a major turnaround for electronics, which have borne the brunt of weak external demand, and regional supply chain disruptions," said ANZ economist Aninda Mitra.

"We also think this provides a firm basis for the BSP to remain on hold."

Ernie Santiago, head of the Semiconductors and Electronics Industries in the Philippines Inc (SEIPI) told Reuters the industry expected electronics exports to grow 10% to 15% in 2012 after contracting more than 20% last year.

Santiago said growth would be driven by businesses restocking and an expected increase in spending on technology.

Analysts agreed that the worst appeared to have passed for the electronics sector, and that should help lift economic growth towards the government's estimate of 5% to 6% for 2012 after a sharper-than-expected slowdown in 2011.

"This does look like a turnaround in the electronics cycle and suggests that GDP growth this year will accelerate from 3.7%," said Eugene Leow, economist at DBS in Singapore.

Exports account for about two-fifths of the country's GDP based on expenditure terms. The government has forecast exports to grow 10% this year, and it expects imports to climb 15%as manufacturers seek to shore up depleted inventories.

Investors seem confident the economy will strengthen -- the stock market is up 14% in 2012, and up by more than a third from Sep. 26, when it posted its lowest close for 2011.

...the best secret beach

Panglao one of world's best secret beaches: magazine

ABS-CBNnews.com

03/13/2012

Panglao Island is included in Travel + Leisure's list of best secret beaches. Photo from Ananyana Beach Resort and Spa

MANILA, Philippines -- Panglao Island in Bohol is one of the best secret beaches in the world, according to an influential American magazine.

The island, a well-established tourist destination in the Philippines, is one of the 17 areas featured in Travel + Leisure's "Best Secret Beaches on Earth" feature, which is part of the magazine's March 2012 issue.

"An hour-long flight from Manila to Bohol island followed by a 25-minute drive across a 19th-century causeway brings you to this secluded Central Visayas isle," author David Keeps wrote in the Travel + Leisure article.

Keeps particularly cited the Ananyana Beach Resort and Spa, which "occupies a prime spot on a mile-long stretch of sand."

"The 12 luxe thatched-roof huts have bamboo-framed king-size beds; the al fresco restaurant turns out Filipino-Mediterranean dishes such as penne with pork adobo; and the lounge is outfitted with regionally made rattan and abaca furniture," he wrote.

"Hop a resort boat for dolphin watching, diving amid the drop-offs of Balicasag island, or, for the ultimate castaway fantasy, a sunset dinner on deserted Puntod Island," he added.

The article also recommended other sites in Bohol such as the Bohol Bee Farm, which serves dishes such as homemade ube (purple yam) ice cream, and the Chocolate Hills, which was described as "a surreal wonder of 1,776 dome-shaped hills formed from limestone covered in grass."

Meanwhile, here are the other beaches that made it to the list of Travel + Leisure's best secret beaches:

• Todos Santos, Baja California Sur, Mexico
• Puako, Big Islang, Hawaii
• Ibo Island, Mozambique
• Phu Quoc Island, Vietnam
• Salema, Portugal
• Bethany Beach, Delaware
• Palm Beach, Barbuda
• Cirali Beach, Turkey
• Koh Lanta, Thailand
• Grand Haven, Michigan
• Lord Howe Island, Australia
• Pyla-sur-Mer, France
• Cayucos, California
• Alagoas, Brazil

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...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 Moody's perspective

Moody's sees Philippine fiscal consolidation continuing in 2012

 

March 12, 2012

GMA News

 

 

The gains made by the Philippines on fiscal reforms and debt reduction last year will likely continue this year, New York-based Moody’s Investors Service said in a report Monday.
 
“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.
 
De Guzman’s comments were part of the credit rating agency’s weekly outlook, “Philippine Fiscal Results Point to Continued Debt Reduction.”
 
New budgeting rules and procurement processes should guard against underspending and ensure that government spending supports economic growth, the Moody’s official noted.
 
“Although we expect the fiscal deficit to widen slightly to 2.4 percent of GDP from two in 2011, the deficit will still be in line with the government’s medium-term fiscal program to 2016,” he said.
 
Higher tax collections in the absence of new taxes reflect a highly visible tax enforcement program that spurred greater compliance for personal and corporate income taxes collected by the Bureau of Internal Revenue (BIR), according to the Moody’s report.
 
It noted a solid increase in non-tax revenues driven largely by higher remittances of profits by government-owned and -controlled corporations.
 
“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,” he said.
 
The Philippines shaved its budget deficit by 37.11 percent to P197.754 billion or 2 percent of gross domestic product (GDP) last year from P314.458 billion or 3.5 percent of GDP in 2010, Department of Finance (DOF) data showed.

PHL debt reduction intact
 
The deficit was P102.246 billion narrower than the P300 billion or 3 percent of GDP on program.
 
Revenue collections grew by 12.6 percent to P1.36 trillion last year from P1.21 trillion. They were P51.4-billion lower than the P1.41-trillion goal.
 
Expenditures rose by 2.3 percent to P1.56 trillion from P1.52 trillion, or P153.6-billion lower than the P1.71-trillion ceiling.
 
The country’s debt-to-GDP ratio would likely decline this year and beyond, reflecting a favorable debt trajectory, according to Moody’s.
 
“Consequently, the debt reduction that began in 2005 is intact and is credit positive,” said De Guzman.
 
Government’s debt management, including buybacks and swaps in the past 18 months, was key to the fiscal and debt consolidation through cost savings, the Moody’s assistant vice president noted.
 
“With an improved credit profile and stable inflation, new government debt issuance now also commands lower interest rates,” De Guzman added.
 
As such, he said interest payments of the Philippines fell 5.2 percent last year on its debt.
 
The ratio of interest payments to total revenues fell to 20.5 percent last year from as high as 36.8 percent in 2005, which showed the country’s degree of fiscal flexibility continued to increase, De Guzman added. — VS, GMA News

...the fastfood international expansion

Philippine fast-food giant Jollibee steps up expansion in China

 

By Doris C. Dumlao

Manila/Philippine Daily Inquirer

Asia News Network 

12 March 2012

 

 

Manila (Philippine Daily Inquirer/ANN) - Philippine fast-food giant Jollibee Foods Corp. further expanded its business in mainland China with the completion of its purchase of a 55-per cent interest in a company operating San Pin Wang, a chain of 34 restaurants selling low-priced beef noodles.

JFC, through wholly owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), signed in 2010 an agreement with Guangxi Zong Kai Food and Beverage Investment Co. Ltd. (GZK) to acquire a majority stake in San Pin Wang.

This is JFC's third fast-food chain in China.

The Philippine fast-food group will spend RMB30 million ($4.75 million) to acquire the 55-percent stake from Guanxi, which will remain a strategic partner with a 45-percent interest. JWPL and Guanxi have committed to invest additional 20 million yuan ($3.16 million) in San Pin Wang to fuel its expansion.

San Pin Wang is a noodle fast-food chain with most of its restaurants located in Nanning City in Guang Xi Province in South China.

The two other restaurant businesses operated by JFC in China are Shanghai-based Yonghe King and Beijing-based Hong Zhuang Yuan, which were bought in 2004 and 2008, respectively. As of January this year, the two overseas businesses had a combined network of 319 stores in China accounting for 11 per cent of JFC's worldwide sales.

JFC also has a 70 per cent interest in Jollibee Foods Processing Pte. Ltd., a commissary in Shucheng, Anhui Province.

JFC currently operates 2,466 stores worldwide, of which 1,997 are in the Philippines. The brands in its portfolio are Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King.

In January, Jollibee through JWPL has consummated a deal to buy into a regional food group that operates a chain of restaurants across Asia. The group acquired 50 per cent of the business of SuperFoods Group, consisting of a 49-per cent stake in Viet Nam-based SF Vung Tau Joint Stock Co. and a 60-per cent share in Hong Kong-based Blue Sky Holding Ltd.

The SuperFoods group, which has $30 million in annual sales, operates 56 Highlands Coffee stores in Viet Nam. Its Pho24 chain of Vietnamese restaurants has 48 stores in Viet Nam, 11 in Indonesia, four in Hong Kong, three in Japan, one in Cambodia and two in the Philippines. It likewise has Hard Rock Cafe-franchised stores in Macau, Hong Kong and Viet Nam.

...the Tribe 1946

New Pinoy mag in Holland launched

by Dheza Marie Aguilar,

 ABS-CBN Europe News Bureau

 03/12/2012

Partners Willem Snijder and Maarten Lemmers present the new Pinoy magazine "Tribe 1946" to selected guests in Assendelft, The Netherlands/Dheza Marie Aguilar, ABS-CBN Europe News Bureau

HOLLAND -- A new Filipino-Dutch magazine was recently launched in Assendelft, The Netherlands, to cater to the need for information and entertainment of Filipinos abroad, especially in Europe.

Tribe1946 magazine was an idea that Dutch businessmen Maartem Lemmers and Willem Snijder decided to pursue when the only Filipino magazine in the Netherlands, Munting Nayon, stopped publishing last year.

They aim to provide not only information but a sort of medium for networking for Filipinos living abroad.

“Last year, we started an idea to support and give services to the Filipinos here in Holland and from the services that we came up with, the magazine is the first one that we started with,” said Snijder.

Lemmers and Snijders came up with the name Tribe 1946 for the magazine because they believed that through their goals, they will help build a stronger Filipino community abroad. The partners also believed that the true Philippine independence was achieved when the United States recognized a free country in the Treaty of Manila signed on July 4, 1946.

In addition to the magazine, they also run an online community for Filipinos and are aiming to start to offer affordable phone rates to the Philippines. Both are happily married to Filipinas.

“What we are trying to do is get together and start a real community. I would like the Filipino community to be more informed, about what’s going on around the world with Filipino communities in other countries, see how to get them really to interact to really learn from each other and benefit from what everyone is doing,” Lemmers said.

According to Lemmers, they do not intend to make a profitable business out of the magazine, but make it more as a tool for Filipinos to become an instrument to help and support each other. They also aim to promote the Philippines not only for tourism but also for business and investments.

The magazine was warmly received by Filipinos in the Netherlands. Most of those who attended were excited that a new endeavor for the Filipino community was started, and promised to support the magazine.

“I’m very glad na may bagong magazine about sa mga nangyayari sa Pilipinas katulad ng Sendong at saka entertainment. Syempre importante din sa atin iyon kasi hindi lamang sa Pilipinas maraming entertainment,” said Irene Looze.

Looze, who owns a catering business, hopes that through the food articles that will be featured in Tribe 1946, Europeans will be able to discover unique and delicious Filipino dishes. She is happy to see that the magazine features Filipino talents not just from the Philippines, but also those who are making a name in Europe.

Tribe1946 is initially available in Spain, Germany, Belgium and Norway, and they hope to distribute it to more countries in Europe.

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