...the Philippines to the World

Noy: World in love with Philippines

            

By Camille Diola

(philstar.com)

July 22, 2013

 

 

A beach in the island of Palawan, cited by President Benigno Aquino III as a top tourist spot in his State of the Nation Address on Monday. RANDY FERGUSON/MALACANANG PHOTO

MANILA, Philippines - For President Benigno Aquino III, the world has "fallen in love" with the
Philippines, which has been dubbed "a paradise."

In his fourth State of the Nation Address on Monday, Aquino cited international publications that recently hailed the as country among the top tourism destinations around the globe.

"Kulang na nga lang po ay tawagin na tayong paraiso," Aquino said, mentioning tourism accomplishments including the 21.4 percent surge in tourist arrivals in the past year.

Aquino mentioned Chinese dailies Oriental Morning Post and Shanghai Morning Post that named the Philippines as the "Best Tourist Destination of 2012" and the "Most Romantic Destination of 2012," respectively.

"Hopefully they will love us more," Aquino said.

He also quoted US-based Travel + Leisure magazine that chose Palawan as the world's "Best Island" and the Scuba Diving Magazine that saw the country's diving sites as the "Best Diving Destination."

 

The Department of Tourism said that 4.3 million visitors arrived in 2011 as it launched its viral advertising campaign "It's More Fun in the Philippines," departing from the 3.1 million arrivals in 2010.

 

Aquino lauded the agency for being on track in its target of 10.0 million tourist arrivals by 2016. The country aims to receive 5.5 million tourists by this year and as of 2012, the country has already recorded 4.3 million tourist arrivals.

Grabbed from SONA technical report at www.gov.ph

"Sa momentum nating ito, tiwala tayong maaabot ng bagong target na 56.1 million bago matapos ang 2016," Aquino said in his speech.

He added that the sector also generated jobs, claiming that 3.8 million positions have been created not only in areas marked as tourist destinations but also surrounding "tourism support communities."

"Ang mga lugar na pinanggagalingan ng pagkaing inihahanda sa mga resort, ng mga souvenir na ibinebenta, at ng iba pang mga produkto’t serbisyong nagsisilbing bukal ng kaunlaran para sa ga lalawigan," Aquino explained.

Best selling American author Dan Brown, however, also made headlines in the country in June for calling Manila as the "gates of hell" in his newly released novel Inferno.

A character in the book described the capital city as one rife with traffic jams, child prostitution, terrible poverty and pollution.

 

...the Asia's outperformers

PH among ‘outperformers’ in Asia, says Moody’s

By Paolo G. Montecillo
Philippine Daily Inquirer

Friday, July 19th, 2013

 

 

The Philippines has once again been recognized as one of Asia-Pacific’s expected outperformers, amid weak demand from the United States and Europe that has dragged down the export-driven economies of other countries in the region.

In a new report, rating firm Moody’s Investor Service said the Asia-Pacific region remained stable, despite global headwinds caused by slowing growth in China and a tepid recovery in the US.

“Global market volatility over the past few weeks has adversely impacted asset markets across Asia Pacific in a swift and undifferentiated manner,” Moody’s said.

Moody’s warned that while foreign investments may return to the region following the recent pullout, “capital inflows will likely return with an eye towards risk-adjusted returns in contrast to the indiscriminate search for yield that characterized inflows in recent years.”

Unlike the rest of the region, however, a few countries, including the Philippines, are expected to be more attractive investment destinations given their proven resilience in the face of difficulties abroad.

“Indonesia and the Philippines have featured the biggest improvements in terms of their percentile ranking,” the rating firm’s Sovereign Mid-Year Update said.

“High economic growth, narrow fiscal deficits, and exchange rate appreciation have combined to lead to debt consolidation in both countries and have contributed to the upward trajectory in their ratings,” Moody’s said.

The report noted that the Philippines was one of the few countries that were able to reduce levels of government debt despite the global slowdown that started in 2009. This came as other countries accumulated debt to fund stimulus efforts during the crisis.

Moody’s said between 2007 and 2013, the Philippines’ level of government debt fell by 4.9 percent in relation to its proportion to gross domestic product (GDP). This was lower than the 10.8-percent decline in Indonesia, but higher than the 4.8 percent posted by India.

Amid the Philippines improved performance, Moody’s once again hinted at a possible upgrade of the country’s sovereign credit rating.

Rating firms Standard & Poor’s and Fitch Ratings already rate the Philippines at investment grade, while Moody’s still rates the country one notch lower.

A country’s sovereign rating is a reflection of the condition of its economy since it indicates the national government’s ability to repay its obligations.

“The positive outlook for the Philippines is unique globally, while those for Hong Kong, Mongolia, and Singapore have been revised to negative this year,” the Moody’s report read.

...the PHL banks

PHL banks stand out for having positive outlook — Moody's

GMA News

July 18, 2013

 

 

The Philippines, however, is “unique among Moody's system globally” for having a positive outlook, which means that the system can be upgraded. 

 

 

The credit outlook for the Asia Pacific region remains stable despite perceived global economic slowdown and volatility in financial markets, with Philippine banks standing out as exceptional, debt-watcher Moody's Investors Service said Thursday.

“Looking ahead, sovereign ratings in the region are likely to withstand the effects of the moderation in global demand and the volatility in global capital markets,” Moody's said in its special report, “Asia-Pacific 2013 Sovereign Mid-Year Update: Broad Regional Stability Amid Continuing External Volatility.”

Specifically, outlooks for banking systems are stable in nine out of 15 rated systems in the Asia-Pacific.

The Philippines, however, is “unique among Moody's system globally” for having a positive outlook, which means that the system can be upgraded.

Hong Kong, Mongolia, and Singapore have been revised to negative this year.

“Although we do not expect banking system stress to materially affect sovereign creditworthiness in these countries, there continue to be important channels of transmission,” Moody's said.

Moody's sees governments “running relatively tight fiscal policies, or continuing with gradual fiscal consolidation.”

Last year, Moody’s upgraded the issue ratings for the Bangko Sentral ng Pilipinas' debts to Ba1 or one notch below investment grade from Ba2 with a stable outlook.

It also upgraded the foreign and local currency long-term bond ratings of the Philippines to Ba1 from Ba2 with a stable outlook.

Moody's cited as one of the reasons for the stable financial system is that it posed limited contingent risks and provided a stable source of financing for the government.

A higher credit rating allows banks and governments to borrow for less.

The debt watcher noted that the region's debt as a percentage of its output is expected move up only slightly, averaging 49 percent for the 2011 to 2014 period from 47 percent in the pre-2008 financial crisis.

“Overall, Indonesia and the Philippines have featured the biggest improvements in terms of their percentile ranking,” Moody’s said.

“High economic growth, narrow fiscal deficits, and exchange rate appreciation have combined to lead to debt consolidation in both countries and have contributed to the upward trajectory in their ratings,” it added. — SOA/BM, GMA News

 

 

...the Apprentice Asia finalist

Pinoy in Top 2 of 'Apprentice Asia'

 

ABS-CBNnews.com

07/18/2013

 

 

Jonathan Allen Yabut is one of the two finalists in "The Apprentice Asia." Photo: Handout

MANILA – Jonathan Allen Yabut, a senior product manager of a pharmaceutical company in the Philippines, is only a step away from becoming the first winner of the reality series “The Apprentice Asia.”

Yabut made it to the Top 2 of the regional adaptation of the popular US series, along with lawyer Andrea Loh Ern-Yu of Singapore.

In a two-part finale which will be aired on the cable channel AXN at 9 p.m. on July 24 and 31, AirAsia’s Tony Fernandes will decide who between the two candidates will become his first “apprentice.”




Yabut is one of the two Filipinos who competed in “The Apprentice Asia.” The other is Celina Le Neindre, a food and beverage consultant, who only made it to the final six in the competition.

A University of the Philippines graduate, Yabut said he has been a fan of “The Apprentice” ever since he was in college.

“I was jumping up and down! Sabi ko sa brothers ko, ‘it’s here, may ‘Apprentice Asia!’ I was telling the other contestants [that] if there was a fan club in Asia, I think I would vie for the president. I really watched everything. Like I’ve watched ‘Apprentice US, Spain, Italy, Australia, Ireland, you have it. And I think it’s a good way to prepare because you know how the tasks are done and you’re psychologically and mentally prepared,” he told ABS-CBNnews.com and other members of the media during the premiere screening of “The Apprentice Asia” last May.

Yabut, 27, said he did not feel the pressure of competing with older and more experienced players.

“I didn’t feel it (pressure) at all. There were both immature and mature people in the show. And since you’re from different backgrounds, you really tend to compromise. So I think the age didn’t really matter at all. You wouldn’t even know what the ages of the people are until you ask,” he said of his fellow competitors, which included a business owner, a financial coach and an auditor, among others.
He ended by saying that he hopes to show the rest of the world that Filipinos can do well, particularly in terms of sales and marketing.

“If you watch other ‘Apprentice’ shows or other seasons, it’s all about marketing and sales. So I felt something and I want to prove that the Pinoy can really do well,” Yabut said.

 

...the docu film Emmy nominee

Filipino-produced docu nominated in Emmys

 

ABS-CBNnews.com

07/13/2013

 

 

MANILA, Philippines -- "Give Up Tomorrow," a documentary film about a Filipino-Spanish teenager who was convicted in a 1997 massacre case, has been nominated in the prestigious Emmy Awards.

The documentary, produced by Filipino Marty Syjuco and directed by American filmmaker Michael Collins, is nominated in the News and Documentary competition.

This was announced early this week by the National Academy of Television Arts and Sciences on its official website.

"Give Up Tomorrow" centers the controversial case of Paco Larranaga, a Filipino-Spanish student accused of the murder of the Chiong sisters in 1997 in Cebu.

Larranaga has been serving a life sentence for 16 years now.

The feature-length documentary, which was first screened in the Philippines last year as part of the Cinemalaya film festival, has been reaping recognition internationally since its New York premiere in 2011.

 

...the World Bank perspective

World Bank exec praises Philippines' macroeconomic policies

 

By Ronron Calunsod,

Kyodo News

07/12/2013

 

 

MANILA - A regional official of the World Bank on Friday described the Philippines' macroeconomic policies as "sound," commending in particular the government plan to expand its poverty intervention program that directly gives cash assistance to poor families.

Axel van Trotsenburg, World Bank vice president for East Asia and Pacific, said proof of the government's successful implementation of its macroeconomic policies, "including keeping good control of public indebtedness," is the market's positive reaction and the investment grade ratings the country received from two credit ratings agencies.

"If you look at the growth numbers like last year, it was 6.8 percent, and this year's first quarter of 7.8 percent, these are very respectable growth rates in an international environment that is complicated...this is a positive number that with a strong growth, you have a chance to create a lot more employment," van Trotsenburg said in a press conference that ended his six-day Philippine visit.

The Philippine government has attributed its impressive economic performance to good governance, sound spending, particularly on infrastructure, and strong domestic consumption.

Van Trotsenburg, who arrived in the country Monday and will leave Saturday, traveled to Mindanao, met with Muslim rebel leader Murad Ebrahim, inspected an informal settlers' community in Manila and meet with President Benigno Aquino.

He said, however, that despite the country's good economic performance, the Philippines needs to work harder to reduce poverty, create good-paying jobs and provide adequate housing.

The World Bank, he said, remains committed to support the Philippines towards these objectives, and proof of this was the transfer Friday of a $300 million-loan.

The Philippines' poverty rate was 27.9 percent last year and the unemployment rate was 7.5 percent in April this year.

"Poverty alleviation is a long-term effort. Poverty reduction is tough, and poverty reduction requires long-term commitment," van Trotsenburg said, adding the World Bank approves of the Philippines' intention to expand its conditional cash transfer program that covers more than three million poor families.

On ongoing peace talks between the government and the Moro Islamic Liberation Front, he said, "We at the bank think very firmly that peace is the future and long-term development will bring long-term benefits to the population," as well as a "real chance of good education, good health to children in Mindanao and subsequently the option to have jobs."

 

...the idea of internet

PHL the 'birthplace' of the internet?

July 11, 2013

 

 

 

The Philippines may have played a much more important role with regard to the Internet as we know it today other than being a mere .ph suffix in a Web address.

Douglas Engelbart, who died earlier this year, invented the mouse and devised an online setup to remotely fetch information—after he read an article in the Philippines.

Engelbart was a Navy technician when he read a 1945 article published at The Atlantic, "As We May Think," by mid-century science icon Vannevar Bush, The Atlantic reported.

Bush's essay had described the Memex, an information-retrieval system, where every "book, record, or communication" was microfilmed and catalogued.

The essay was published in LIFE magazine, a copy of which ended up in a Red Cross library in —guess where—Leyte.

Idea born in Leyte

Engelbart, then a Navy radar technician, never saw combat in World War II, as the war ended just as his boat left San Francisco Bay on its way to the Philippines.

It was in Leyte that Engelbart "stumbled across a Red Cross reading library in a native hut set on stilts, complete with thatched roof and plentiful bamboo," The Atlantic said.

"The ideas in the story plowed new intellectual terrain for Engelbart, and the seeds that he planted and nurtured there over the next twenty years grew, with the help of millions of others, into the Internet you see today," it added.

Engelbart eventually wrote Bush a letter describing how profoundly Bush's work affected him.

"I might add that this article of yours has probably influenced me quite basically. I remember finding it and avidly reading it in a Red Cross library on the edge of the jungle on Leyte, one of the Philippine Islands, in the fall of 1945," he wrote.

"I rediscovered your article about three years ago, and was rather startled to realized how much I had aligned my sights along the vector you had described. I wouldn't be surprised at all if the reading of this article sixteen and a half years ago hadn't had a real influence on my thoughts and actions," he added.

Obits

Engelbart had been lauded by the Los Angeles Times' obituary as the one whose work "inspired generations of scientists, demonstrated in the 1960s what could happen when computers talk to one another."

For his part, Apple co-founder Steve Wozniak credited Engelbart's 1960s research "for everything we have in the way computers work today."

"So, in one tangible and real sense, the Internet we know now began in that hut across the world. As Bush made new thoughts possible for Engelbart, Engelbart made it possible for us to imagine the rest of it," The Atlantic said. — VC, GMA News