...the Asia's strongest performing economy

PH is now Asia's strongest-performing economy, says expert

By Kim Arveen Patria

Yahoo! Southeast Asia Newsroom 

14 August 2012

"The strongest-performing economy in the Asia today is the Philippines," - Michael Spencer, chief economist for Asia at Deutsche Bank AG (Bloomberg)

REUTERS - Traders throw confetti as they celebrate the last trading day of the year at the Philippine Stock Exchange in Makati, the financial district of Manila, in this December 29, 2011 file photo. Asia's top companies are less upbeat on their business outlook than in the first quarter, with mounting concern over the euro zone crisis and a slowdown in China's growth, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey, published on June 20, 2012. To match story ASIA-COMPANIES-SENTIMENT/ REUTERS/Romeo Ranoco/Files

Amid a disaster, here comes some good news.

This, as an expert claims Philippines is now the strongest-performing economy in Asia, thanks to improved exports even in a weak global environment.

"The strongest-performing economy in the Asia today is the Philippines," Michael Spencer, chief economist for Asia at Deutsche Bank AG, said in an interview with Bloomberg on Thursday.

Spencer notes the country has historically been identified as dependent on the economies of the United States and Europe, which both continue to face uncertainties.

The Philippine economy grew by 6.4 percent in the first quarter, with economists noting that this signaled a recovery from the sluggish 3.7 percent growth in 2011.

This made the Philippines the second fastest-growing Asian economy, topped only by China at 8.1 percent.

"what's driving growth [in the Philippines] today is exports, surprisingly enough for them," Spencer said.

National Statistics Office (NSO) data show that total exports reach $26.8 million in the first half, up 7.68 percent from $24.8 million in the same period in 2011.

The country's export performance has been insulated from weak external demand, particularly from US and Europe, by increasing outbound shipments to Japan, Spencer said.

"I suspect that this has something to do with Japan outsourcing to the Philippines after the earthquake," he added.

Outbound shipments to Japan also grew by 11 percent to $4.77 billion in the first half from $4.29 billion a year ago.

Japan thus remained the Philippines' top market during the period, accounting for 17.8 percent of total exports.

Last year, Japan was also the Philippines' top product destination with $8.86 billion worth of exports or 18.5 percent of total exports.

It was followed by the US, with a 14.8 percent share; China, 12.7 percent; Hong Kong, 7.71 percent; and Singapore, 8.92 percent.

...the Math wizzards in Hong Kong

Pinoys win 125 awards in HK math contest ABS-CBNnews.com

Posted at 08/13/2012

Young Filipino math wizards in Hong Kong. Photo courtesy of James Yu and MDAP

MANILA, Philippines – Filipino students won a total of 125 medals in the 8th Asia Cup Stars of the Olympic Math Contest 2012 recently held in Hong Kong.

In a statement, Mathematics Development Academy of the Philippines executive head Dr. Archival Rodriguez said the Philippine delegation won 14 gold, 52 silver and 35 bronze medals, as well as 24 merit awards in the competition.

Below is the full list of Filipino winners:

Gold

1. Justin Timothy Uygongco - Iloilo Central Commercial High School
2. Bryce Ainsley Sanchez- Grace Christian College
3. Gyla Jane Nismal - Sto. Domingo Elementary School
4. Allyana Coleen Reyes - Chiang Kai Shek College
5. Albriz Moore Bagsic - Lilyrose School, Tanauan City
6. Beatrice Mae Malvar - Elizabeth Seton School - South
7. Kristine Bernadette Nunez - Colegio San Agustin - Binan
8. Pamela Irisari - Butuan City SPED Center
9. Wendell Lenard Ong - St. Stephen's High School
10. Kylee Wiona Sy - Pace Academy
11. Fedrick Lance Lim - Zamboanga Chong Hua High School
12. Elijamin Wolfgang Claveria - Elizabeth Seton School - South
13. Lorenz Matthew Tech - Pasig Catholic College
14. Gene Go Jr. - Zamboanga Chong Hua High School

Silver

1. Janssen Reign Pena - Mother Goose School, Urdaneta
2. Lewis Ian Gonzales - Pasig Catholic College
3. Trisha Danielle Sia - Chiang Kai Shek College
4. Hance Louie Uy - Philippine Cultural College - Main
5. Rexza Mae Panaligan - Sta. Barbara Central Elementary School
6. Rikka Grace Sombiro - Solomon Integrated School De Iloilo
7. Ron Lian Nikolaus Tan - Morning Star Montessori School Inc. (LB)
8. Ma. Leibniz Charisse Parra - Saint Paul College, Pasig
9. John Mark Andresio - Santa Barbara Elementary School
10. Ryan Jericho Sy - Chiang Kai Shek College
11. Al Patrick Castro - Pasig Catholic College
12. Cris Magdalene Dela Cruz - Bolinao Integrated School
13. Kyla Anjeli Resurreccion -SPED Center - Baguio
14. Cyd Nicolas Santos - San Beda College Alabang
15. Ronn Derick Simbol - BHC Educational Institution
16. France Mathieu Tacderan - Elizabeth Seton School (Main)
17. Szel Leeven Yu Embay - La Salle Academy
18. Emmanuel Matthew Cornel - Santiago Cultural Institute
19. Jonathan Conrad Yu - Philippine Christian Gospel School
20. Ronald Reinier Labuguen - Muntinlupa Elementary School
21. Theresa Denise Magsajo - Saint Paul College, Pasig
22. John Ian Lenix Hingan - San Beda College Alabang
23. Ma. Angeline Jumangit - Elizabeth Seton School - South
24. Andrea Robang - PAREF Woodrose School
25. Nico Angelo Sombiro - Solomon Integrated School De Iloilo
26. Sunny Sy - Chiang Kai Shek College
27. Lyra Winette Tamayo - Mother Goose School, Urdaneta
28. Tiffany Mae Ong - Immaculate Conception Academy
29. Cris Jericho Cruz - Puerto Princesa Pilot Elementary School
30. Alvin Lyndon Sy - Iloilo Scholastics Academy
31. Mathieu Raphael Alonzo - Notre Dame of Greater Manila
32. Xuanye Li - Xavier School
33. Johnavel Marie Ninoy - Bacolod Tay Tung High School
34. Moses Christopher Carpio - Agoo Kiddie Special School
35. Gelli Domingo - Young Shepherd's School
36. Sean Christian Lim - Mother Goose School, Dagupan
37. Christian Quinzon - San Beda College Alabang
38. Daniel Tio - St. Stephen's High School
39. Adrian Nathaniel Chua - Xavier School
40. Shenelle Pamela Lim - Jubilee Christian Academy
41. Junifer Sombilon Jr. - Butuan City SPED Center
42. Guinevere Soria - Precious International School of Davao
43. Luis Salvador Diy - Xavier School
44. Andrew Vince Lee - Xavier School
45. Anne Kaila Recio -Philippine Institute of Quezon City
46. Kim Giwon - Learning Links
47. Jeanette Rafallo - Agusan Del Sur Pilot Laboratory School (Bayugan)
48. Shawn Gabriel Cabanes - Zamboanga Chong Hua High School
49. Charity Justine Benignos - Trinity Christian School
50. Edgar Laurrence Osis - Colegio San Agustin - Binan
51. Hiraya Marcos - Philippine Cultural College-Main
52. Benedict Del Rosario - Iligan City East Central School

Bronze

1. Lei Dojoan Toma Cruz - Dee Hwa Liong Academy
2. Jodi Marcia Arcadio - Notre Dame of Greater Manila
3. Gerick Andrei Barsatan - Tuguegarao West Central School
4. Erin Nicole Blanche - Dee Hwa Liong Academy
5. Wesley Gavin Palomar - Falcon School
6. Margaux Francesca Lim - Zamboanga Chong Hua High School
7. Derick Pan - Chiang Kai Shek College
8. Ronnie Vience Roberto - Special Education for the Gifted
9. Jansen Nina Serdoncillo - Elizabeth Seton School - South
10. Stephanie Jhean Villaceran - Davao Central High School
11. Joan Lyn Fadri - San Beda College Alabang
12. Lord Danly Mafe - Colegio San Agustin-Binan
13. Vincent John Ancermo - Pasig Catholic College
14. John Lian Mar Catli - Tuguegarao West Central School
15. Cheska Marina Hufano - Mother Goose School, Dagupan
16. Jamina Matulac - St. Mary Mazzarello School
17. Seth Gabriel Ricafort - Notre Dame of Greater Manila
18. Randmar David Balleras - International British Academy
19. Jennica Elia Dee - St. Paul University Philippines
20. Erika Eunice Dumago - Ann Arbor Montessori
21. Cathryn Therese Maala - La Marea School
22. Mark Ely Namoro - La Salette Elementary
23. Pancho Ruedas - Union Institute of Rosario
24. Maxim Grace Sorongon - Children Integrated School of Alta Tierra
25. Samantha Louise Wong - Philippine Institute of Quezon City
26. Lyle Wenzel Tamayo - Mother Goose School, Urdaneta
27. Golden Sionil Sison - PAREF Southridge School
28. Jose Marco Antonio II - Silliman University SBE Elementary School
29. Ryan Christopher Deodores - Colegio San Agustin-Binan
30. Julyanne Gail Frilles - Bicol University College of Education - ILS
31. Lance Joshua Irisari - Rainbow of Angels Learning Center
32. Isaac Milo Muralla - Ateneo de Iloilo-Sta. Maria Catholic School
33. Matthew Eric Tan - St. Stephen's High School
34. Cristina Beatrice Mallari - Saint Paul College-Pasig
35. Mark Jester Dela Rosa - JFK SPED Center Subic

Merit

1. Liam Gene Cabrera - Living Spring Academy
2. Jannica Allison Lim - Zamboanga Chong Hua High School
3. Sam Rivkah Reiniery Valdecantos - Notre Dame of Greater Manila
4. Ryanne Spencer Lim- Mother Goose School, Dagupan
5. Francis Roy Albina - Silliman University SBE Elementary School
6. Jose Miguel Antonio - Silliman University SBE Elementary School
7. Andrea Leanna Chan - Zamboanga Chong Hua High School
8. Marithea Laura Hufano - Mother Goose School, Dagupan
9. Beatrice Christine Montemayor - BHC Educational Institution
10. Andrea Sudario - St. Mary Mazzarello School
11. Celine Amanda Montales - Colegio San Agustin-Binan
12. Katrina Bianca Bandiola - SPED Antique Center
13. Lorize Lorielle Dado - Iba Central School
14. Danielle Alexis Pobre - St. Paul University Philippines
15. Lance Kendrick Sebastian - Zamboanga Chong Hua High School
16. Lancelot Bangug - St. Augustine's School
17. Earvin Kristoffer Estioco - St. Mary's College of Quezon City
18. Xil Lucia Guevara - Hold Child Education Center
19. Justin Aaron Natividad - Elizabeth Seton School (South)
20. Gene Paolo Ortiz - Santiago Cultural Institute
21. Arman Dave Tan - Santiago Cultural Institute
22. Pia Juneea Nebrada - Butuan City SPED Center
23. Rufa Aizha Cunanan - Zamboanga Chong Hua High School
24. Gia Gemeno - JFK SPED Center Subic

Just recently, the Philippine delegation won a total of 96 medals in the International Mathematics Contest in Singapore.

---

...the NASA's Mars mission

Pinoy included in NASA's Mars mission crew

 

ABS-CBNnews.com

 08/13/2012

 

Operations systems engineer Gregory Galgana Villar III worked on the mission to Mars. Photo courtesy of NASA's Jet Propulsion Laboratory

MANILA, Philippines – While media has largely focused its attention on “Mohawk Man” Bobak Ferdowski during last week's successful Mars landing of the NASA rover Curiosity, a Filipino was among those who were celebrating the agency’s latest achievement.

Filipino Gregory Galgana Villar III is one of NASA’s youngest engineers on the rover mission.

After enduring the now-famous “seven minutes of terror,” the 25-year-old Villar and nearly 100 NASA employees celebrated at a nearby bar, according to a report by website The Huffington Post.

“It was unreal,” he told The Huffington Post over the phone. “I couldn't hold myself back -- we were jumping up and down, hugging each other, tearing up.”

And after Curiosity released its first batch of photos from the red planet, “we were just blown away once again,” he said.

Baguio student

Although Villar was born and raised in Long Beach, California, he attended high school at St. Louis University in Baguio City, where his parents are from.

According to the website, Villar has been working for NASA since he was a junior at Cal Poly Pomona. He now works as an operations systems engineer at NASA’s Jet Propulsion Laboratory (JPL).

In an interview with Montrose-La Crescenta Patch before the Mars landing, Villar said he is part of the team that will operate Curiosity in Mars.

“After Curiosity lands, I will be part of the surface operations team as a Science Planner. I will be facilitating the daily planning process where scientists and engineers decide what we want the rover to do next,” he told the Patch.

According to Villar, he has been involved with Curiosity since January 2011.

“Over the past year and a half, I have put in about 4,000 hours of work on Curiosity and I feel this was time well spent. Witnessing a successful mission like the Mars Science Laboratory will increase support from the decision makers in Washington for future missions,” he added.

Villar told The Huffington Post that part of Curiosity’s mission is “to spark more questions about science and engineering among America’s youth, as well as show political leaders that NASA is still worth funding.”

“I hope that it will continue to inspire people and show decision makers in our government that these types of missions are essential to our progression as humans,” Villar told the website. “And I hope the youth are inspired

...the Aussie actor

'Immigrants and Cigarettes' film featuring Fil-Aussie actor nominated for two awards

 

Karla Maquiling

August 13, 2012

 

 

"Immigrants and Cigarettes," a short film featuring Filipino-Australian actor Felino Dolloso, is a finalist in two international film festivals.

 

 

Directed by Mike Kang, the film is an official entry to:

• the Korean Film Festival in Australia on August 25, and
  
• the Guam International Film Festival on September 27-30.

Kang’s previous film "It's about Survival," also starring Dolloso, won the Best Film Award in the Digital Series Film Festival in Sydney this month.

The film follows the story of Michael (played by Dolloso), a cleaner at a migrant resource center who devotes his life to the well-being of minorities.

Dolloso, who is always on the lookout for “film projects with great characters, imperfect characters, and raw, off-center-type characters,” said he enjoyed doing "Immigrants and Cigarettes."

“It [showed] the relationship between flawed human beings [and explains] why people do what they do and become the person they are, and the sacrifices they make,” he said in an email to GMA News Online.

Dolloso is no stranger to a migrant’s life. Like the character he plays in the movie, he knows what it is like to work long hours to achieve your dreams.

Hard work, humility pay off

Born in the Philippines, Dolloso migrated to Australia as a young child. He got into acting by accident, wanting to skip classes by joining the high-school play.

Today, he is one of the few visible Filipino actors in Australia, seen in theater, television, and film.

His television credits include guest roles in "Packed to the Rafters," "Spirited," "Answered by Fire," "All Saints MRU," "Review with Miles and Barlowe," "Comedy Inc," and "The Hostages." 

Dolloso has also appeared in Hollywood films such as:

• "Point Break 2," starring Keanu Reeves,
  
• and "Candy," with the late Heath Ledger, Abbie Cornish, and Geoffrey Rush.

Dolloso's film credits include "The King’s Seed," "Suppose the Night Tasted Like Sugar,"
"Seeing the Elephant," "Callabona Red," "Under the Same Sky," "The Devil’s 6 Commandments," "Pitbulls," "Tallulah Falls Apart," "Balibo," "RaChoi," and "Mother Fish."

Onstage, Dolloso has appeared in "Coup d’etat," "Aussies of the Magic Mic," and "Adobo Kind," and "A Quiet Night in Rangoon," among others.

Critic Lloyd Bradford Syke called his performance in the play Havana Harlem “dynamic and arresting.”

Dolloso has also worked with Griffin Theatre, Riverside Theatre, The Colour Blind Project Theatre Festival, Urban Theatre Productions, Belvoir St. Theatre, Sydney Fringe Festival, and Brand Spanking New Festival.

Currently rehearsing for his role as Dr. Jose Rizal in a play, Dolloso hopes to do a film in the Philippines in the future.

His dream roles would be to play international boxing champion Manny Pacquiao or the national hero Lapu-Lapu.

Despite his accomplishments in the last decade, Dolloso knows that show business is “a hard trade.”

To Filipino-Aussies like him wanting to get into the industry, he has this advice: “If you’re passionate about becoming an actor, then take classes. Go to a drama school. Do projects—plays and films, paid and unpaid—and learn the craft properly. Always be humble and polite and [keep] your dignity always.” - VVP, GMA News

...the Q2 growth (likely)

Q2 GDP growth seen at 6.5-7%

By: Doris C. Dumlao
Philippine Daily Inquirer

Monday, August 13th, 2012

 

 

The domestic economy likely grew by 6.5-7 percent in the second quarter, even beating the first-quarter level that made the Philippines the second-fastest growing economy in Asia after China.

This was the estimate of a joint First Metro Investment Corp.-University of Asia and the Pacific study, which said “the economic numbers being reported and the increasing number of foreign analysts seeing the country to continue its strong run despite the turmoil in the eurozone are confirming our bullish view on growth.”

The FMIC-UA&P research publication The Market Call said it was expecting full-year GDP growth at 6-7 percent or much higher than last year’s 3.7 percent. The government is expected to announce the second-quarter GDP numbers by the end of this month.

With agriculture likely to expand 2.5 percent in the second quarter from 1 percent in the previous quarter as well as a more rapid expansion in the manufacturing and construction sectors, the study said the second quarter could even exceed the 6.4-percent gross domestic product growth in the first quarter.

The research noted that Manila Electric Co.’s (Meralco) electricity sales, a proxy for economic activity, rose 8.3 percent year on year in June despite a fairly steep increase in electricity rates early in the month. Since January, it said Meralco sales have consistently grown above 8 percent, driven by robust demand of the industrial sector, which posted double-digit gains all throughout the first semester.

On average, it noted that the second-quarter electricity sales registered a 9.5-percent year-on-year expansion, slightly slower than the first quarter’s 9.9 percent but a big reversal from the 2.1-percent contraction in the second quarter of 2011.

“The strong growth was heavily due to the recuperating export sector, the boost in business process outsourcing (BPO) and manufacturing industries, as well as from the ongoing government infrastructure projects. The economic vitality reflected in this economic indicator is well supported by the one million new jobs created in the year ending April 2012,” the report said.

“Meralco sales as a proxy for GDP growth indicate better-than-expected [expansion] for the second quarter, indicating that the 6.4-percent GDP jump in first quarter was not a fluke. This is backed up by robust government spending, stronger export growth, stable OFW (overseas Filipino worker) remittance increases coupled with lower inflation in the second quarter,” it said.

For the second semester, while the external sector might be weaker due to the lingering euro zone recession, the research said domestic demand should be stronger since the national government would likely incur an additional P180-billion deficit for the semester, while a slight peso depreciation would spur OFW-dependent spending.

FMIC-UA&P’s outlook for the second semester said inflation would keep close to the lower end of the Bangko Sentral ng Pilipinas’ 3-5 percent target range and hover around 3.2 percent, much of it being due to base effects, because crude oil prices, as projected by the US Department of Energy, would be relatively steady and food prices would remain stable.

It said interest rates would have a slight downward bias and possibly pave the way for another 25-basis point BSP policy rate cut (to a new record low of 3.5 percent for the overnight borrowing) in order to align these to rates abroad and minimize currency speculation into the peso.

While the fiscal deficit would rise in the second half (which is deemed good insofar as it would stimulate the economy), tax revenue growth would keep a double-digit path as the stronger economy in itself would raise the buoyancy of tax collections. Government infrastructure spending has risen 66 percent in the first half but may only slow down slightly primarily because of a higher base in the second half of last year.

The study also noted that export growth might slow down to 4-6 percent in the second half as the euro zone recession stymies US and China expansion.

...the Muscles from Brussels

Van Damme hopes to visit Philippines


ABS-CBNnews.com
 08/12/2012



MANILA, Philippines – International action star Jean-Claude Van Damme is hoping to return to the Philippines soon, according to entertainment editor Ricky Lo.

Van Damme met Lo during a Hollywood junket to promote "The Expendables 2," which opens in Philippine theatres on August 16. The movie, which stars Sylvester Stallone, also features an all-star roster of action stars Jet Li, Liam Hemsworth, Terry Crews, Randy Couture, Dolph Lundgren and Jason Statham.

“I’ve been to the Philippines several times. I have several friends there, like Jude Estrada, the son of the former President (Joseph Estrada),” Van Damme told Lo in the article, which was published in The Philippine Star on Sunday.

Van Damme currently lives in Hong Kong with his wife.

“I’ve been telling my kids about how beautiful the Philippines. They should go to the Philippines and then go to Hong Kong later,” Van Damme, dubbed the “Muscles from Brussels,” added.

His son, Kristopher, who lives in Los Angeles, told Lo: “I’ve heard so much about the Philippines from my dad. He told me about how gracious the people are. I would love to go to the Philippines.”

According to Van Damme, the first movie he did was shot in the Philippines “with a very low budget.”

“I was also the first guy to endorse Red Bull in the Philippines when that (energy drink) was only starting,” he said.

Asked if he has plans to visit the Philippines again, the actor said: “Absolutely! For the last six years, I’ve been staying in Hong Kong and I travel a lot around Asia. One of these days I will go back to the Philippines. Asia is a wonderful place. The people are so…different. They are very relaxed, they have a different type of philosophy. They are so respectful. That’s why I love Asia. It gives me a different kind of feeling.”

...the positive outlook

Growth targets feasible amid disaster – Palace

ABS-CBNnews.com

08/12/2012  

 

 

MANILA, Philippines -- The government remains confident that growth targets will be achieved this year amid the devastation left by the heavy rains and floods last week.

Deputy presidential spokesperson Abigail Valte, in a text message, told reporters: “The Department of Agriculture (DA) continues to make an assessment of the damage sustained but the Philippines remains confident that it will be able to reach its targets. The DA has taken steps to extend assistance to farmers affected by the monsoon."

Economic managers is a targeting a high-end growth of 6% for this year due to investors’ confidence and increased public spending.

The National Disaster Risk Reduction and Management Council said on Sunday that the cost of damage to infrastructure is now over P585 million, while the damage to agriculture is more than P19 million.