Tuesday, March 20, 2012

...the spectacular place

NatGeo host tells Pinoys: You live in a spectacular place

Monday, March 19, 2012

...the take off

Philippines seen on verge of economic takeoff

All elements are in place, says former NEDA chief


By:Doris C. Dumlao
Philippine Daily Inquirer
 
 
For the Philippines, 2012 does not mean the end of the world as predicted by the ancient Mayans, but could instead herald the beginning of a much-awaited economic takeoff, according to former Socioeconomic Planning Secretary Cielito Habito.
 
In a briefing for Malayan Bank last week, the economist from the Ateneo Center for Economic Research and Development said that after lagging neighboring countries in the last decade, all the elements for takeoff were in place.

The government is now in a position to accelerate spending after putting the brakes on spending that in turn gnawed at growth last year; infrastructure thus has no way to go but up.

Governance improvements are taking hold, sending a good signal to businessmen. Private domestic investment has come out of a decade of lethargy. Change is also coming to Mindanao, which promises to be a new growth pole. Japan and Thailand—hit by a massive earthquake and flooding, respectively—have recovered from their respective disasters and the indirect impact on the local economy is waning; and China is no longer the juggernaut it appeared to be but is now more an opportunity than a threat.

Based on Habito’s P-T-K gauge, referring to presyo (price), trabaho (jobs) and kita (earnings), the economist sees good indicators for this year.

On inflation, he projected that the uptick in consumer prices would be kept at 3-4 percent or well within the goal of the inflation-targeting central bank.

On jobs, he noted that the unemployment rate had gone down to 6 percent.

“We haven’t seen that in a while,” he said, adding that the rate would likely be kept at 6-7 percent.

With regards to incomes, Habito said it would be prudent to assume an economic growth rate of 4-5 percent this year.

The more aggressive, he said, could plan around 5-6 percent.

In the case of China, “China is no longer as fearsome as it used to be. Its own success is catching up with it.

China is now an opportunity to sell goods than a threat. If you look at that huge market, then you can see how much potential that is,” Habito said, alluding to the likes of businessman Carlos Chan whose Oishi snack brand is making waves in China.

Habito added that there were some factories now returning from China, which has seen a sharp increase in labor costs. Related to this, manufacturing was thus seen as a renewed growth driver for the country. Habito said the Philippines could be competitive in food manufacturing, design-based products such as high-end apparel, furniture and fixtures as well as higher value-added consumer electronic products.

The economist also encouraged investments in Mindanao, citing huge untapped potentials such as in producing coconut, oil palm, rubber, coffee, cacao, cassava and fruits.

In tourism, he said “good promotion is essential, but not sufficient.” He noted that the excessive protectionism in civil aviation was not in the national interest. Likewise cited as a “critical and urgent constraint” was the Philippines’ category 2 in FAA [Federal Aviation Administration], effectively preventing local carriers from expanding their flights to the United States.

Medical, wellness and retirement tourism are also key components to boosting tourism in the Philippines, he said.

On the other hand, business process outsourcing was cited by Habito as a “recession-resilient” industry that was projected to grow by 20 percent each year over the next five years.

...the Golden Boot awardee

Phil Younghusband wins Golden Boot award

03/19/2012
 
 
Philippine Azkals striker Phil Younghusband won the Golden Boot award for the most number of goals scored during the 2012 AFC Challenge Cup. Photo courtesy of Neil Etheridge

MANILA, Philippines - Philippine Azkals striker Phil Younghusband won the Golden Boot award for the most number of goals scored in the 2012 AFC Challenge Cup tournament.

Younghusband scored 6 goals in the tournament to lead the Philippines to a historic third-place finish in the competition.

The former Chelsea reserve player opened the scoring for the Azkals in their nerve-gripping 4-3 victory over Palestine on Monday.

His second goal in the match came via a penalty in the 24th minute.

Azkals coach Michael Weiss said he is proud of what his wards have achieved. "I am very proud to be part of this development of Philippines' football and I look forward to it continuing."

"I also want to take the opportunity to thank all our fans in the Philippines, in the Gulf, in Europe and all over the world who have supported us. Without them, what we have achieved would not have been possible," he told the-afc.com in a post-match interview.

The German gaffer said he also did not expect the third-place match to go down the wire. "It was a thriller. A do-or-die game and we were lucky in the end."

"Overall, I think we deserved to finish third and I thank my players for their never-say-die attitude," he said.
Other members of the Philippine Azkals were also on cloud 9 with their victory over Palestine.

"Maraming salamat po sa pagsubaybay nyo sa aking twitter updates. Masaya ako na nakapaglaro ulit ako para sa Pilipinas at naka-3rd place kami," goalkeeper Neil Etheridge said.

"Salamat sa lahat na sumusuporta sa team. So proud of you," Chieffy Caligdong said.

"Another amazing achievement from this amazing team. We thank all those who contributed along the way and for everyone's wonderful support," Rob Gier said.

"That match was our Final and we ended with a bang! Great achievement to come home with a bronze. So damn proud!" said Aly Borromeo.

"Tanggapin nyo ang taos puso naming pasasalamat sa inyo sa walang sawa nyo na suporta sa amin! Mabuhay ang Pinoy!" Ian Araneta said.

The Azkals also received praise from Palestinian football fans on social media site Twitter.

"Philippines has improved tremendously in 12 months. Not just saying that because they put 4 past us- their play is a lot more nuanced," said @FutbolPalestine. "Thought the fourth goal was absolutely superb from Philippines. Beautiful overlapping play really shows how far they've come."

"Quite obvious today that Philippines was hungrier, angrier. Congratulations Azkals on the third place finish. See you at Challenge Cup 2014!" @FutbolPalestine added.

Azkals fans, meanwhile made a public show of support by gathering at the Manila Peninsula Hotel in Makati on Monday night.

Two members of the group stepped into the hotel's large outdoor fountain bearing the Azkals flag as the rest cheered on.

North Korea won the tournament by beating Turkmenistan, 2-1, in a tightly fought final on Monday.

...the major Asian Film Awardees

Domingo, Buencamino win at Asian Film Awards

03/20/2012

HONG KONG, China - Eugene Domingo and Shamaine Buencamino won 2 major trophies at the 6th Asian Film Awards ceremony in Hong Kong on Monday.


Domingo took home the People's Choice most popular actress award for her performance in "Ang Babae Sa Septic Tank."


Eugene Domingo

Buencamino won the Best Supporting Actress award for her role in "NiƱo."



Sharmaine Buencamino

Filipina actress Eugene Domingo and Hong Kong actor Andy Lau pose with their trophies after winning the most popular actor and actress awards through online voting, at the Asian Film Awards in Hong Kong on Monday. Reuters/Bobby Yip

 
The other awardees are:

Best Film: A Separation (Iran)

Best Director: Asghar Farhadi (A Separation -- Iran)

Best Actor: Donny Damara (Lovely Man -- Indonesia)

Best Actress: Deanie Ip (A Simple Life -- Hong Kong)

Best Newcomer: Ni Ni (The Flowers of War -- Mainland China)

Best Supporting Actor: Lawrence Ko (Jump! Ashin -- Taiwan)

Best Screenwriter: Asghar Farhadi (A Separation -- Iran)

Best Cinematographer: Jake Pollock, Lai Yiu-fai (Wu Xia -- Mainland China/ Hong Kong)

Best Production Designer: Yee Chung-man, Sun Li (Wu Xia -- Mainland China/ Hong Kong)

Best Composer: Chan Kwong-wing, Peter Kam, Chatchai Pongprapaphan (Wu Xia -- Mainland China/ Hong Kong)

Best Editor: Hayedeh Safiyari (A Separation -- Iran)

Best Visual Effects: Wook Kim, Josh Cole, Frankie Chung (The Flying Swords of Dragon Gate -- Hong Kong/Mainland China)

Best Costume Designer: Yee Chung-man, Lai Hsuan-wu (The Flying Swords of Dragon Gate -- Hong Kong/Mainland Chia)

The Edward Yang New Talent Award: Edwin (Indonesia)

Lifetime Achievement Award: Ann Hui (Hong Kong)

- reports from Reuters, Agence France-Presse

Sunday, March 18, 2012

...the (Credit Suisse) growth forecast

Credit Suisse hikes PH growth forecast

03/18/2012


“We are increasing our 2012 real GDP growth forecast to 3.5% from 3% earlier...”  - Santitarn Sathirath, Credit Suisse economist


MANILA, Philippines -- Zurich-based Credit Suisse has hiked its economic growth forecast for the Philippines to 3.5% instead of 3% this year on the back of higher government spending and recovering exports sector.

Santitarn Sathirath, an economist of Credit Suisse, said in a study that both exports and government spending that served as key factors holding back growth last year are now showing signs of turnaround this year.

“We are increasing our 2012 real GDP growth forecast to 3.5% from 3% earlier,” Sathirath said.

The investment bank said the country’s merchandise exports would pick up starting the second quarter due to improving semiconductor book-to-bill ratios and would support both the GDP and current account balance assuming there is no full-blown European crisis.

Furthermore, he pointed out that Credit Suisse sees improvement in the government’s budget disbursement with the launch of the Public Private Partnership (PPP) scheme after cautious spending by the Aquino administration last year.

“We think the key tool for boosting growth is fiscal policy as the government is looking to put $16 billion or about seven percent of GDP in rail and airport projects. These planned expenditures form part of the government’s spending plan,” he added.

The government hopes to keep the country’s budget deficit to 2.6% of GDP this year after trimming the shortfall to two percent of GDP last year due to cautious spending.

“While we remain cautious about the execution of policy, we have seen some promising signs that the government can deliver the promised spending when it really wants to,” he said.

The country’s GDP growth slackened to 3.7% last year from 7.6% in 2010 due to the weak global trade and government underspending. This year, the Cabinet-level Development Budget Coordination Committee sees the country’s GDP expanding between 5% and 6%.

Sathirath also pointed out that Credit Suisse decided to slash its inflation forecast to 3.2% instead of 3.7% that could boost household real spending.

“While year-on-year inflation is likely to pick up in the second half of the year, the speed of increase will depend largely on global oil prices as the government will not subsidize fuel prices,” he said.

According to him, a Dubai oil price of around $120 per barrel is still manageable for the Bangko Sentral ng Pilipinas (BSP) that has set an inflation target of between three percent and five percent this year and next.

After cutting interest rates by 50 basis points so far this year, the economist said the BSP would likely keep the overnight borrowing rate at a record low of 4% and the overnight lending rate at 6% this year.

“The BSP is likely to stay put for the rest of this year. We maintain our expectation that the BSP will keep the policy rate at 4% going forward. The policy rate is already at its lowest level,” Sathirath said.

...the raised investment

BOI investments ascend 249% in Feb. to P3.22-B

March 17, 2012
GMA News
 
 
Foreign investments approved in February at the Board of Investments (BOI) climbed 249 percent to reach P3.22 billion and raised the first two months’ total to P12.4 billion. Total approved investments in February last year were worth P924 million.
 
In a statement, the BOI said 3,250 new jobs are expected to be created by the 24 projects granted incentives under the Investment Priorities Plan.
 
Thailand topped the list of countries that committed projects “with investments amounting to P2.2B followed by Japan (with) P703M, and different nationalities including Taiwan and the United States (at) P182M,” the BOI said.
 
“CP Foods, a major transnational conglomerate in Thailand’s agribusiness industry, will construct a modern aqua feeds plant with an annual capacity of 114, 000 metric tons,” according to the BOI.
 
The agency revealed that CP Foods “will help supply aqua feeds for the local aquaculture and fisheries industries. They will also source their raw materials from local and foreign suppliers and will need local supply utilities.”
 
240 projects await approval
 
“Our February figures show more jobs for every peso of investments,” BOI Managing Head Adrian S. Cristobal Jr. was quoted as saying. He also said many more projects await the investment promotion agency’s stamp.
 
“There are 240 more projects in the pipeline for BOI approval as of February this year,” Cristobal said.
 
“Our February figures show more jobs for every peso of investments,” he added.

Other projects approved in February include:
 
  • Toyota Motor Philippines’ production of the Vios model in its Laguna plant;
  • Quadriver Energy Corp.’s hydroelectric power generation project in Bohol;
  • Zanorte Palm-Rubber’s Plantation in Zamboanga; and 
  • Pueblo de Oro Development Corp.'s property development in Batangas.
 
“The Zanorte Palm-Rubber plantation project is expected to harness the potential of rubber as a new growth industry in the country. Initial target buyers for dried rubber are Dunlop, Bridgestone, and Yokohama,” the BOI said.

The BOI also disclosed that the approved Toyota Motor Philippines project "will strengthen the country’s foothold in production of compact sedans.”
 
“SME suppliers are also expected to benefit from the project through Toyota’s cluster development program “Big Enterprise Small Enterprise” where they monitor and cascade supply development programs to SMEs,” the BOI added. — ELR, GMA News

...the scientists

Pinoy scientists excel at research, from superconductivity to micropaleontology

 
March 17, 2012
 
 
In fields ranging from superconductivity to micropaleontology, nine Filipino scientists were recognized for their significant contributions to the national and international science communities.
 
The National Research Council of the Philippines (NCRP) —the oldest scientific collegial body in the Asia Pacific region— feted the scientists at its recent 79th General Membership Assembly:
 
Dr. Vicenta Macuja-Cervera: recognized for her significant research contributions in psychology, guidance and counseling, and other fields. A prolific author and editor of books and several official journals of professional organizations, Dr. Cervera also developed psychological tests that are widely used in the country today. She is a member of the Philippine Team of the 2006 Global Entrepreneurship Monitor (GEM).
 
Dr. Macrina Tamayo-Zafaralla: her quality scientific and technological output has significantly contributed to the abundance of the national fish supply, and is therefore important in the goal of food security and poverty alleviation. Her efforts have also contributed to reducing health risks in river bank communities.
 
Dr. Ernesto M. Pernia: his landmark studies on population and development in the Philippines and Asia include the economic impact on population change; migration and economic development; and the population, nutrition, health, and economic costs of children. He also developed a model of individual and household migration, and an analysis of the economic and social impact of small industry promotion.
 
Dr. Roland V. Sarmago: honored for his research efforts in the field of superconductivity. His original contributions have also been cited by the international scientific community, and extended to future applications.
 
Dr. Alicia M. Aguinaldo: recognized for her work in the field of the chemistry of natural products. She was also exemplary as a mentor, school administrator, and a member of various professional organizations.
 
Dr. Erlinda Kintanar-Alburo: her major contributions to the field of cultural research, specifically on Philippine literature and language, folklore, and history, include her Cebuano findings, which have inspired others to undertake similar studies. The books she edited, including literary anthologies with translations and dictionaries of indigenous arts, have been used as instructional materials in schools.
 
Dr. Edanjarlo J. Marquez: his outstanding work in the area of micropaleontology earned him his award. His researches, published in local and international peer-reviewed journals, have contributed to the understanding of the geologic history of the Philippines. In his mentorship of his students, he upheld the need for greater environmental awareness in the Philippines.
 
Dr. Remigio M. Olveda: cited for being the principal investigator of two prestigious grants—for research on schistosomiasis from the World Health Organization/TDR-Rockefeller Foundation North-South and the Tropical Medicine Research Center grant from the US National Institute of Health on schistosomiasis, malaria, and leprosy. Under his leadership, the first Good Manufacturing Practices Certified Vaccine Production Plant at RITM was established. The plant can produce locally affordable and high quality vaccines.
 
Dr. Joseph S. Masangkay: honored for his significant contributions in the field of veterinary medicine, specifically on laboratory animal genetics and wildlife animal pathology in the Philippines. His research has provided valuable information on the protection, conservation and proper use of animals as laboratory models in biochemical research.
 
Established in 1933, the NRCP has 2,809 member researchers, scientists, and technologists spread over the 13 NRCP Scientific Divisions. — TJD, GMA News