...the teen Pinay sensation in Spain

Pinay teen's first single a hit in Spain

 

By Sandra Sotelo,

ABS-CBN Europe News Bureau correspondent

03/28/2014

SPAIN – A Barcelona-based Filipina teenager is making a name for herself in Spain after her first single "Sha la la" was a hit in radio and television programs.

Maria Sagana continues to receive good reviews in Spain after her single landed on the Top 40 Music Charts and is steadily competing with well-known local and international artists.

"Ang sarap ng feeling na marami akong nare-receive na support from both Filipinos at Spanish. It really makes me strong. Imagine, yung biggest radio station, 40 Principales, they are promoting my music! And I am in many different write-ups sa Spanish press. Nakakatuwa!” she said.

Her video teaser received more than 50,000 views on its premiere.





She has been invited to attend a TV series premiere night and an artist's photo shoot. She has even flown all the way to Madrid for press interviews and meetings with production people, who want to get to know the girl and the talent behind the success of "Sha La La".

"I'm so happy to release my first single kasi di ba mahirap sa music industry ngayon. Sometimes you're up, sometimes down. Kaya I'm so happy na nabigyan ako ng break," she added.

Sagana has just turned 16 years old. She attends high school and combines academic studies with her voice lessons.

She started taking up singing lessons when she was 9. Her sister, Jackie Sagana, a music artist and composer herself, is her prime inspiration and model.

Jackie used to have her own music group and so her sister grew up tagging behind her in concerts, rehearsals, jam sessions with friends and families.

"I practically grew up with karaoke filling my home," the girl said.

Sagana is also active in school programs and activities in the Filipino community.





At the age of 14, she already caught the eye of some music and TV producers as her first song “Ready to Love” released via iTunes, was played several times as background song in a famous Spanish TV series.

 

...the PH growth indicator

Philippine imports surge 22% in sign of rising growth

 

Agence France-Presse

Wednesday, March 26th, 2014

 

MANILA, Philippines—Philippine imports surged 21.8 percent in January, their highest level in nearly three years, with imports of raw materials indicating further upward momentum for one of Asia’s fastest growing economies, the government said Tuesday.

It was the biggest rise since March 2011, when imports grew by 21.9 percent, National Statistics Office figures showed.

The Philippines, formerly an economic laggard, grew by a remarkable 7.2 percent in 2013 despite a series of disasters including the devastating Super Typhoon “Yolanda” (Haiyan) in November. Its growth last year was second in Asia only to China, officials said.

Imports surged due to a recovery in Philippine exports such as electronics and garments and increased spending on infrastructure, especially in areas affected by Yolanda, said Rosemarie Edillon, assistant director general of the government’s socio-economic planning agency.

“The economy is definitely going to grow. A huge chunk of these imports are for production: capital goods and investments for the manufacture of other goods,” she told Agence France-Presse.

Imported raw materials are a major input in many of the country’s key exports such as electronics and garments so the surging imports mean even higher exports later, she said.

“These imports are a leading indicator for exports two or three months down the road. If imports in January increase, we will probably see an increase in exports in March and April,” she said.

The increase in shipments of steel, metal and chemical products were also an indication of the major construction efforts being undertaken, both to upgrade infrastructure and to rebuild the damage caused by the disasters, she added.

Imports in January hit $5.757 billion, up 21.8 percent from the same period last year, the statistics office said.

This resulted in a trade deficit of $1.376 billion in January, up 92 percent from the same period in 2013.

Socio-economic Planning Secretary Arsenio Balisacan also said in a statement that “this positive (import) performance may be reflective of the optimistic outlook of businesses on their own operations”, in the second quarter of the year.

China was the biggest source of imports to the Philippines, accounting for 14.7 percent of the total, with the United States in second with 10.6 percent, the statistics office added.

 

...thr PH growth forecast 2014 (S & P, IMF)

S&P, IMF raise PH growth forecast

 

ABS-CBNnews.com

03/26/2014

 

 

MANILA, Philippines – Ratings company Standard and Poor's (S&P) upgraded its full-year growth forecast for the Philippines on the back of rebuilding efforts in areas affected by typhoon "Yolanda" last year.

S&P now expects the country's economy to expand 6.6 percent this year, slightly up from its forecast last December of 6.4 percent.

The ratings agency’s forecast is within the government's target, but still slower than last year's growth of 7.2 percent.

"In the Philippines, growth could normalize from its rapid pace in 2013, although post-disaster rebuilding efforts could provide an offset in the short-term," S&P said in its report.

Typhoon Yolanda devastated the Visayas region in November and caused more than 6,000 deaths. More than P36 billion worth of infrastructure and agriculture was damaged.

S&P cited several risks facing the country this year, including slowing growth in China, which is the second biggest buyer of our local exports.

S&P was the second of the big three ratings companies that upgraded the Philippines from junk to investment grade status last year.

S&P rates the country with a 'BBB-' with a stable outlook.

The International Monetary Fund (IMF), meanwhile, said the Philippine economy is expected to grow 6.5 percent this year, faster than its earlier estimate of 6.3 percent.

The upgrade was also driven by spending related to Yolanda reconstruction efforts.

"While this envisaged growth path is faster than what was achieved during the previous decades, realizing the Philippines' full potential for rapid, sustained and inclusive growth calls for further reducing bottlenecks to investment and formal sector employment that may be discouraging broader-based business activities," said Rachel van Elkan, IMF's mission chief to the Philippines.

"The challenge therefore is to continue implementing policies that deliver high quality, sustainable growth," she added.

Van Elkan also said monetary policymakers need to watch out for potential risks as advanced economies start tightening monetary policy.

"Further reforms are needed to create a more enabling business environment and to generate additional employment," she said.

"Successfully executing PPPs (public-private partnership projects) and public capital spending projects would relieve infrastructure bottlenecks and help catalyze private investment," she added.

The IMF, concluding a regular consultation with the country's economic managers, also slightly lowered its 2015 GDP forecast to 6.5 percent from a 6.6 percent estimate in January.

It said in a statement the need for accommodative policies in the country had waned with the stronger global outlook.

The IMF also said it expects average inflation this year to be slower at 4 percent against its projection of 4.4 percent in January.

The latest forecast is higher than actual 3.0 percent inflation in 2013, though it is at the midpoint of the 3 to 5 percent government target this year. -- With Reuters

 

...the PH growth punch

Philippines jabs for growth after Yolanda knockout

 

By Carmina Reyes,

ABS-CBN News

03/26/2014

 

 

MANILA – Like its boxing icon Manny Pacquiao, who was shockingly knocked out by an opponent but found redemption in his next fight, the Philippines should bounce back in 2014 after a deadly blow by typhoon “Yolanda” last year.

Three foreign institutions in separate reports said they expect the Philippines to maintain a strong growth rate this year, boosted by the government’s infrastructure projects and reconstruction program in the aftermath of the typhoon.

But for the Philippines to finally advance to another boxing division like Pacquiao, the Philippines must quicken its pace of project implementation.

“Our Philippines research highlights that the greatest single threat is disappointment with the administration due to slow pace of implementation,” said Australia’s Macquarie, which two years ago had set up with Philippines’ Government Service Insurance System (GSIS) a AUS$625-million fund to invest in infrastructure projects in the country.

Macquarie sees the Philippines maintaining a 6%-6.5% growth rate this year, while World Bank forecasts growth domestic product (GDP) growth rate at 6.6 percent.

DBS, Southeast Asia’s largest bank by assets, even raised its GDP growth forecast to 6.6% for 2014 from the previous estimate of 6.5%.

“The economy is largely unhurt from the devastating typhoon at the end of last year. If anything, the reconstruction efforts taking place in the first-half of 2014 will likely provide another boost to GDP growth momentum,” DBS economist Gundy Cahyadi said.

The country’s full-year GDP in 2013 grew 7.2%, higher than the government’s expectations of 6-7%, despite being struck by the one of the strongest typhoons to ever make landfall.

Construction of the 15-kilometer Metro Manila Skyway 3 project has started, but there are other transportation infrastructure that need to be implemented: the NLEX-SLEX connector road of the Metro Pacific group, and the Integrated Transport System (ITS) terminals.



World Bank country director Motoo Konishi said the $8 billion reconstruction program launched recently by the government will reduce the negative impact of typhoon Yolanda.

“The disruption to economic activity in the affected areas will pull down growth through lower consumption, but a speedy implementation of the Reconstruction Assistance on Yolanda (RAY) program would partially offset the decline in consumption and keep GDP growth strong at 6.6% in 2014 and 6.9% in 2015,” World Bank said.

Punches and headbutts

World Bank, however, warned that a slower global recovery and the end of quantitative easing in the US could release a torrent of punches to the economy.

Slower growth in high-income countries and in China would translate into lower demand for Philippine export products. China accounted for 12% of Philippine exports in 2012.

As to how America’s quantitative easing could impact the Philippines, here’s a quick recap: The US Federal Reserve began its asset buying program in November 2008, purchasing US Treasury notes and mortgage-backed securities, and issues credit to the banks' reserves to buy the bonds.

The purpose of this expansionary monetary policy is to lower interest rates and spur economic growth.

The program is now on its sixth year and since January, instead of buying $85 billion a month in bonds, as it has been doing since September 2012, the Fed has lowered its purchases to $75 billion in bonds each month.

The Fed is expected to gradually cut back on the bond purchases throughout this year so it can completely wind down its stimulus program. The rise in rates will likely pick up pace when the Fed finally raises its key overnight lending rate, which has been near zero since late 2008.

Last week, Fed Chair Janet Yellen, in a press conference following the first policy meeting that she chaired, said the Fed will probably end its bond-buying program next fall.

Kendrick Chua, World Bank senior economist for the Philippines, said the scaling back of quantitative easing in the US could result in higher borrowing costs in the Philippines.

This can impact on those who borrowed money to purchase houses or real estate assets. In case the interest rates rise sharply, some people may not be able to pay the amortizations and their properties may end up getting foreclosed.

The Bangko Sentral ng Pilipinas (BSP) is scheduled to hold a policy meeting March 27. Last week, BSP Governor Amando Tetangco told reporters an "early" and "gradual" adjustment in monetary policy stance rather than "discreet movements" would be less disruptive to businesses.

The BSP’s overnight rate has been at a record low of 3.5% since October 2012 when it was cut by 25 basis points.

Chua said that while businesses and households may be affected, the overall impact on the Philippines is expected to be manageable.

"The country continues to benefit from strong macroeconomic fundamentals, characterized by low and stable inflation, healthy external balances, and improving government finances. These strong fundamentals will continue to shield the economy," Chua said.

Going the distance: Tourism, Sciences

Will be the Philippines mirror Pacquiao, who started as a brawler, but later emerged as a skilled ring warrior?

To remain competitive, Macquarie said the Philippines must avoid or at least minimize the tendency of losing competitiveness in one segment before building competitiveness in other areas.

“The Philippines should improve competitiveness in a number of key agribusiness and metals/mining sub-sectors while maintaining and improving competitiveness in electronics,” Macquarie said.

“In addition to merchandising trade, the Philippines has in our view a significant untapped potential in services exports beyond BPO.”

In the context of IT-BPO (business process outsourcing), the industry continues to expand rapidly. IT-BPO revenues increased by 17% in 2013 and have reached $15.5 billion.

Although the growth rates are likely to taper-off, there is no doubt that the industry has multiple avenues of expansion.

The challenge is to continue diversifying away from voice and into faster areas of growth such as: back-office IT services; engineering & healthcare services; and higher value-added applications, such as animation, Macquarie said.

While the Philippines control almost 30% of the global voice BPO market, the country’s overall share of IT exports remains at around 1%, with clearly significant room for growth.

Fortunately, the current administration, which will be in power until June 2016, remains popular, according to Macquarie.

“Although net ratings are down somewhat, they remain considerably ahead of two other long-lasting administrations and there is an overall feeling of popular consensus for reform," Macquarie said.

 

...the Spain's portal in Asia

Spain eyes PH as next investment hub in Asia

by Catherine N. Pillas,

BusinessMirror

03/25/2014

 

 

MANILA - Spain is now looking to the Philippines as the best hub to establish its presence in Asia in preparation for the Asean Economic Community in 2015, and cited infrastructure as a viable area of investment.

“I think the Philippines is the best hub we can think of to introduce our companies and our economy in Asia, and I hope that we can find good partners to start business in this part of the world,” said Spanish Minister for Foreign Affairs and Cooperation Jose Manuel Garcia-Margallo at the Makati Business Club (MBC) General Membership Meeting at the Mandarin Oriental Hotel.

This message comes at the heels of the economic recovery of Spain, which, according to Margallo, was among the European countries hardest hit by the global financial crisis.

Among the blows that the Spanish economy has experienced are a dramatic fall of its gross domestic product, high public deficit and a growing public debt.

However, with the significant fiscal reforms undertaken by the country in the past years, Spain is now changing its model based on enhanced competitiveness, productivity and export-driven, Margallo said.

Gross domestic product growth and employment rates are improving, as well as public deficit, Margallo reported and is looking to Asia, the Philippines, in particular, to be the next investment hub.
“That is why this important Spanish business delegation is here, to explore and take advantage of all the things that the Philippines may offer to Spain,” he said.

Peter Angelo V. Perfecto, executive director of the MBC, revealed that with the Asean economic integration in 2015, Spain is looking to the Philippines as a possible hub from which Spanish economic presence can take hold in the rest of Asia.

Perfecto added that the 25-member Spanish business delegation presently in the Philippines will undertake meetings with Philippine companies, led by the Ayala Group.

The MBC official added in a chance interview after the forum that the Spanish delegation is eyeing infrastructure development, in particular, as 37 percent of the whole transport infrastructure in the world is managed by Spanish companies.

“We are exploring possibilities in many areas, but since the Philippines is aiming to have good infrastructure in order to attract investments to the country, infrastructure is one area that Spanish companies are especially qualified in,” said another Spanish trade official during the open forum.

Socioeconomic Planning Secretary Arsenio M. Balisacan, who also attended the forum, welcomed Spain’s interest in infrastructure development and additionally called attention to tourism, agribusiness and industrial manufacturing as ripe opportunities for Spanish businessmen.

The Spanish firms making rounds with their Philippine counterparts are engaged in various sectors but are mostly in infrastructure and tourism.

To solidify the commitment between Spain and the Philippines in developing business relations for both sides, a memorandum of agreement was signed on Monday between two business groups in Spain—the High Council of Chambers of Commerce, Industry and Navigation of Spain, and the Confederation of Employers and Industries of Spain—and the Makati Business Club.

According to data from the Department of Trade and Industry, bilateral trade between Spain and the Philippines grew by 19 percent from 2010 to 2012, or from $304 million to $362 million, and is the Philippines’s seventh-largest trading partner in Europe.

Bilateral trade between the two countries as of the first semester of 2013 is valued at $225 million.
In terms of tourism, 17,000 Spaniards have visited the Philippines in 2013, up by 7.7 percent from 2012, according to Department of Tourism statistics, while Filipino visitors to Spain were pegged at 50,000 in 2013.

 

...the world's top performing home sales

Phl home prices among world’s fastest growing

            

By Louella D. Desiderio

The Philippine Star

March 23, 2014

 

MANILA, Philippines - The Philippines was among the top performers in terms of growth in housing prices worldwide, according to a survey by research house Global Property Guide (GPG).

In GPG’s global house price survey for 2013, the Philippines was the fourth top performer with the average price of three-bedroom condominium units in the Makati central business district rising 10.56 percent in 2013 following annual increases of 4.85 percent in 2012 and two percent in 2011.

“Demand remains strong, as indicated by soaring real estate loans,” the research house said.

It noted that based on data from the Bangko Sentral ng Pilipinas, the volume of real estate loans rose 38.5 percent year-on-year to P776.65 billion in September last year.

Citing real estate advisory services firm CBRE Philippines, GPG said the Philippine housing market is expected to accelerate this year, to be supported by the rising number of foreign investors as well as growing business process outsourcing industry.

The growth in the local housing market is seen amid the country’s favorable economic conditions.

 

The economy grew 7.2 percent in 2013, faster than the 6.8 percent expansion posted in 2012.

 

For this year, the government has set a 6.5 to 7.5 percent economic growth target.

Topping GPG’s list of countries with rising housing prices was United Arab Emirates with average prices of housing units in Dubai growing 21.52 percent in 2013.

This was followed by Estonia with average housing prices up 16.55 percent, while Taiwan came in third with average housing prices increasing 14.46 percent last year.

China placed fifth on the list as the average cost of housing units in Shanghai climbed 10.13 percent in 2013.

Out of the 42 countries covered by GPG’s survey, 27 markets showed housing price increases
“House prices are rising in many more countries than not, and the momentum trend is strongly upwards,” GPG said.

GPG which provides information on residential property development covers market trends in 101 countries.

 

...the summer's best place

Why the Philippines is the place to be this summer

By INQUIRER.net

Monday, March 17th, 2014

 

MANILA, Philippines – When you live in a country that fuses together urban sophistication, impressive skylines, gorgeous beaches and the friendliest people on this side of the world, it’s hard not to look forward to it at its finest – during the summer.

 

Yes, the Philippines boasts some of the most exciting prospects for the summer, so before you book that trip to the Maldives or Ibiza, here are few reasons to make you stay in the Philippines for the summer holidays.

 

1. You can go back in time

 

Well, okay – it doesn’t literally mean going back in time, but the Philippines is home to some of the most historic spots in the world! Corregidor Island, for one, is guaranteed to transport you back into the Second World War with its perfectly maintained Malinta Tunnel and Pacific War Memorial, among others.

 

 

 

 

But if that’s not up your alley, fear not – there are many other options to satisfy your craving for exciting history. There’s also Mactan Island to check out Magellan’s Cross,

 

 

 

or Fort Santiago to be a witness to the heroics of our countrymen during the Spanish era.

 

 

 

2. You can finally catch that perfect wave

 

Even Anthony Kiedis from the Red Hot Chili Peppers can attest to this – the Philippines boasts some of the best surf spots in the world. Be sure to check out Siargao Island for a thrilling adventure that will surely be the talk of the town for whole of the summer.

 

 

 

 

CNN agrees too – the Cloud Nine surfing hotspot on Siargao is among their Top 50 Best Surf Spots in the World. Now why would you want to miss out on that?

 

3. The food (Oh yes, the food)

From the sisig of Pampanga to the lechon of Cebu, there is no end to the culinary feast that The Philippines can bring. Yes, the Philippines is home to a wide range of quality dishes – both local and international fare.

 

Sisig

 

Lechon

 

 

 

Whether it’s a frosty glass of halo-halo by the beach that you’re craving for, or a sumptuous lechon dinner at the heart of the city, or a quick 2-piece chicken meal from Jollibee, the Philippines has it – and so much more.

 

Halo-halo

 

 

 

4. We have some of the best beaches ever

 

The summer is the perfect time to hit up the beaches around the Philippines – and there are just so many to choose from. There’s the gorgeous Bohol for one of the most scenic destinations in the country,

 

Alona Beach, Bohol

 

 

 

exciting Boracay Island for the partygoers and socializers

 

Boracay nightlife

 

 

and beautiful Palawan for some of the most exotic and solitary beaches in the Philippines.

 

El Nido, Palawan

 

 

Local travel website tripmoba.com has some enticing travel packages for many of the country’s top beach destinations, and it’s so simple to use – a few clicks and you’re in for a summer holiday you won’t ever forget.

 

5. The list never ends

 

The Philippines never seems to run out of things to do – whether it’s going on a hike up Mt. Pinatubo, riding horses in Baguio or partying the night away around The Fort or Capitol Commons. Yes, the Philippines offers a widely extensive list of things to do, making it the perfect summer destination for families, colleagues and friends alike.

 

6. There’s always something to do for everyone

 

You don’t have to worry about mom getting bored or your youngest brother getting restless this summer – there are so many things to do across many different age groups, and now that it’s summer, there’s even more time to do it. tripmoba.com has a wide range of flights, hotels and experience packages that cater to many different ages and interests, and all it takes is a click of a button. The up-and-coming Filipino website is so efficient that it’ll take just a few minutes to get your dream destination started.

 

 

The Philippines is really a melting pot of diversity – among people, cultures and natural wonders alike, and this summer, the country is set to take centre stage and show the world why it really is more fun in the Philippines.