...the programs

5 ABS-CBN shows named finalists in NY TV awards

ABS-CBNnews.com

02/04/2012

 

MANILA, Philippines - Five ABS-CBN News and Current Affairs programs made it to the 2012 list of New York Festivals TV and Film Awards finalists.

ABS-CBN’s flagship news program “TV Patrol” is among those being considered under the festival’s Best Newscast category for its typhoon "Juaning" coverage.

Under the Magazine Format category, the weekly show “Rated K” hosted by broadcast journalist Korina Sanchez was included in the list for the episode entitled “Kuwento ng Buhay Ko”.

Meanwhile, other ABS-CBN News and Current Affairs shows recognized by the prestigious award-giving body are: “Storyline” under Biography and Profiles, “EDSA 25: Sulyap sa Kasaysayan” under History and Society and “Krusada” under Social Issues and Current Events.

New York Festivals honors programming in all lengths and forms from over 40 countries.

The complete list of 2012 New York Festivals TV and Film Awards finalists can be found here.

...the PSE

PHL shares breach record high on ‘strong optimism’

VICTOR D. SOLLORANO,

GMA News
February 2, 2012

Philippine shares trekked higher in active trading Thursday, carried by a “strong optimism” among market players that 2011 would be a banner year for corporate earnings.

The optimism is also fueled by the perceived strength of Wall Street, “causing  local shares to trek higher,” said Jonathan Ravelas, market strategist at BDO Universal Bank.

The Philippine Stock Exchange (PSE) index surged 106.44 points or 2.25 percent to close at 4,822.08, breaching the record 4,747.90 the market achieved on Jan. 20.

“There is a strong optimism on full 2011 earnings, helping keep shares on the upbeat, especially with expectations of another rate cut,” said Ravelas, adding that a new round of interest rate cuts, which makes the cost of funds cheaper, would be good for corporations.

Regional markets also performed well.

“Asian shares rose on Thursday as encouraging manufacturing data soothed fears about the global economic fallout from the euro zone debt crisis… MSCI's broadest index of Asia-Pacific shares outside Japan climbed as much as 1.4 percent to a five-month high of 438.674, with Australia and China leading the gains, according to a Reuters report.

On the PSE, more than 8.337 billion shares valued at P18.155 billion were traded.

Winners led losers 109 to 57 with 41 issues closing unchanged.

“Wall Street stocks rallied after a report showed that US manufacturing activity grew at its strongest pace in seven months in January, shrugging off data suggesting Europe is struggling with fallout from its festering debt crisis,” Reuters noted in a separate report.

“The Dow Jones industrial average closed up 83.55 points, or 0.66 percent, at 12,716.46,” Reuters added.
It was a blend of positive sentiments, starting with Wall Street overnight, said Freya Natividad, head of research at F. Yap Securities Inc.

The employment figures for the Philippines last year was also good, she said, noting that the manufacturing numbers for the US, China and India also gave the market the momentum its deserves.

“If the market is able to keep up with this momentum, I think, we are looking at 5,000 [on the PSE index] short-term… possibly within the first quarter, if the momentum is upheld, Natividad noted. — TJD, GMA News

...the positive climate

Philippines enjoying positive economic climate: official

February 02, 2012 Philippine Star MANILA (Xinhua) -- The Philippine government said on Thursday that the country is experiencing positive economic climate amid a challenging global economic environment.       Philippine Deputy Presidential Spokeswoman Abigail Valte said that contrary to allegations by some members of the opposition, economic indicators had showed an improvement in general economic conditions.       "Self-rated poverty is down, growth has resumed its upward trajectory as shown by the fourth quarter figures which are higher than the second and third quarter figures, unemployment in the fourth quarter was also down, infrastructure spending has been accelerated, and the stock market has once again reached new highs, " she said at a regular news briefing.       "All of these indicate that, while we expect this year to be challenging due to global economic environment, the business environment is improving, and policies toward promoting equitable growth are taking effect," she added.       The Philippine economy grew 3.7 percent last year and the government is eyeing 5 percent-6 percent growth for gross domestic product in 2012.

...the bayanihan paper

Sociological study touching on bayanihan bags int'l award

 

Barbara Marchadesch

February 2, 2012

GMA News

 

 

Gerardo S. Petilla of the National Research Council of the Philippines was recently feted for his paper, “Regenerating the Home Base of the Filipino Internal Migrants through Indigenous Volunteerism: A Human Security Framework”, at the 20th General Conference of the International Federation of Social Science Organizations (IFSSO), held at the Lyceum of the Philippines University, Batangas City. 

 

Petilla’s paper was recognized as one the five best among the 52 papers presented at the conference, which had the theme “Social Science Perspective on Human Security”.

 

In his paper, Petilla discussed the reasons for internal migration (or the moving of people from rural to urban centers) and how it can pose a threat to home-base human security because it depletes the local community and hinders it from progressing and developing socially and economically.

 

To address this situation, Petilla suggested the development of a strategy called “indigenous volunteerism”, or bayanihan. It can be done through continuous or long-term action through various interventions, such as education and knowledge sharing, skill and competency development, leadership, good governance, and environmental literacy. These interventions empower the young and those left behind who serve as the home-base workforce that will sustain the community’s social and economic sides.

 

The 20th IFSSO conference was participated in by 269 social science professors, instructors, and government officials from Canada, China, Denmark, Germany, Ghana, Hungary, India, Indonesia, Japan, Nigeria, South Korea, Thailand, Turkey and the US. Petilla, currently the chief of NRCP’s Administrative and Finance Division, represented the Philippines, along with NRCP Social Sciences Division Chairperson Carmencita T. Aguilar and NRCP Social Science Division Regular Member Dr. Nestor T. Castro, who was elected the new President of the IFSSO during this assembly. — TJD, GMA News

...the hidden gem

Investors see 'hidden gems' in Philippines

 

By Coco Alcuaz,

ABS-CBN News Channel

02/02/2012

 

 

 

MANILA, Philippines - Bank of America-Merrill Lynch says investors are bullish on the Philippines because many stocks here have little or no exposure to the weak economies of Europe and the U.S.

 

The bank helped organize an ongoing 3-day roadshow in Hong Kong for 30 Philippine companies to meet potential investors.

"A lot of the underlying companies don't have as much of a correlation or connection with what's happening in Europe and the U.S.," Clemente Antonio Puno IV, global corporate and investment banking director at Bank of America-Merrill Lynch (Singapore), said in an interview on ABS-CBN News Channel.

"That's true for a lot of ASEAN markets as well but i think in the Philippines there are a lot of hidden gems."

Puno said investors find the country attractive because of economic fundamentals, strong banks, companies with low debt, and the prospect of a boom in infrastructure and mining.

He also said investors are confident the government will boost spending, after underspending, and the delayed start of its public-private partnership projects, helped damped growth last year.

"Investors understand there was a lot of cautiousness to begin with but the government has shown at least toward the end of last year and early this year that the spending will pick up and that's aimed at truly moving forward the PPP program."

"We saw one project getting awarded and that's encouraging for a lot investors. Same as in other countries in the world, investors will be focused on how the program is implemented and how easy it is to come on shore and do business under onshore regulations."

Bank of America said investors are looking at the fast-growing Southeast Asian region as a whole, picking less between countries such as the Philippines and Indonesia, and more among companies across the region.

 "A lot of investors are looking at ASEAN as a block when they look at investing and they really pick the companies where they see a lot of growth and a lot of returns going forward."

...the growth projection

Philippines’ growth seen to pick up in 2012

GDP expansion forecasts range from 3.6% to 4.5%

By: Doris C. Dumlao, Michelle V. Remo
Philippine Daily Inquirer

Wednesday, February 1st, 2012

Workers check the reinforcing bars at a construction site in Makati, the financial district of Manila on Monday, January 30, 2012. The Philippine economy is expected to grow at a faster pace this year than in 2011, when it posted a "feeble" 3.7 percent growth. AFP PHOTO/NOEL CELIS

The Philippine economy will likely grow at a faster pace this 2012 from last year’s anemic performance as the government’s pump-priming could add to the momentum from private consumption and prospective export recovery, according to New York-based think tank Global Source.

In a report titled “Nowhere to Go but Up?” written by Filipino economists Romeo Bernardo and Margarita Gonzales, Global Source said a 4.5-percent gross domestic product growth for this year remained achievable, “where surprises may even be on the upside.” The commentary was issued after the government’s announcement on Monday of a 3.7-percent full-year 2011 GDP growth.

JP Morgan Chase & Co. agreed that with the help of a low interest rate environment, the Philippines would likely achieve a faster economic growth this year, possibly within the 4-percent territory.

HSBC economist Trinh Nguyen added that while the government would likely “do what it can to boost growth,” the Philippine economy would expand by only 3.6 percent this year.

All the growth forecasts fall short of the Aquino administration’s official target of between 5 and 6 percent.

The Global Source report also predicted that the Bangko Sentral ng Pilipinas might sanction another 25-basis-point policy rate cut before the year ends “while the inflation outlook remains benign and before a growth pickup is fully established.”

JP Morgan Chase also expected the BSP to cut by end-March the key policy rates by another 25 points to again hit the record lows, saying the monetary agency would likely take advantage of the low-inflation environment.

But HSBC’s Nguyen, despite her slower growth outlook, no longer expected the BSP to cut key interest rates further after the quarter-point reduction in January.

“Exports are unlikely to recover in 2012, but acceleration of government consumption growth should continue supporting growth throughout this year,” Nguyen said. “The BSP supported growth by cutting interest rates by 25 [basis points] in January 2012. However, ample liquidity and robust domestic demand conditions means further cuts are unlikely.”

Global Source said that apart from base effects, there seemed to be some momentum coming from private consumption, which still grew a robust 6.7 percent annually in the fourth quarter of 2011, likewise up 1.6 percent quarter on quarter on a seasonally adjusted basis.

The think tank added that the peso depreciation during the period likely enhanced the purchasing power of remittances, which had been growing quite robustly (by about 7 percent) while compensation of overseas workers as recorded under net primary income rose 3.6 percent after dipping annually for three consecutive quarters.

“We also anticipate some recovery in merchandise exports as firms in the electronics and semiconductor industry have started to note an increase in orders that could bring volumes back up to 2010 levels,” the Global Source research said. This would translate easily to double-digit growth which, while seemingly impressive, actually comprises one-offs – such as a rebound in production from supply disruptions tracing to Japan’s tsunami and nuclear crisis and massive Thai floods,” the think tank said.

“Because of the country’s cost advantages, we believe services exports, which grew by 18.5 percent in the fourth quarter last year, will likely remain strong despite threats of a clampdown on the outsourcing sector by the current US government,” the research said.

...the bold adobo flavor

US foodies predict 'Year of Adobo'

ABS-CBNnews.com

02/01/2012

New Media America, which describes itself as a group of 2,000 ethnic news organizations, ran a story on Filipino cuisine on its website, declaring that it is "poised to break gastro ceiling."

Lamb adobo, a sophisticated twist on an old Filipino favorite. Photo by Karen Flores, ABS-CBNnews.com

MANILA, Philippines -- Filipino food is currently creating a buzz in the United States, leading industry observers to believe that the Year of the Dragon, which began last January 23, could be the "Year of the Adobo."

Adobo is meat (from pork and chicken to seafood and offal) braised in garlic, vinegar and soy sauce. Each household, town, province and region in the Philippines has a different way of preparing this otherwise simple Filipino viand.

New Media America, which describes itself as a group of 2,000 ethnic news organizations, ran a story on Filipino cuisine on its website, declaring that it is "poised to break gastro ceiling."

"The Year of the Dragon will be the Year of the Adobo if some local foodies are predicting it right," the article said.

The article also quoted veteran food writer Nancy Freeman as saying: “I think there are so many hot Filipino restaurants now, and they have really helped get this food bubbling to the surface of the marketplace.”

It noted the emergence of Filipino eateries in the San Francisco Bay Area, including gourmet food trucks, such as Adobo Hobo, Señor Sisig, Hapa SF and Lumpia Cart.

The article also mentioned that a new line of frozen appetizers with the brand name “Kusina ni Maria” is now available in almost 20 Whole Foods Markets and select Costco Stores across Northern California.

Growing interest

Because of the growing interest in Filipino food, the Philippine Consulate in San Francisco has launched cooking events in line with its "Kulinarya" travel packages, which were designed by the Philippine Department of Tourism and Philippine Airlines to entice Americans to go to the Philippines for food trips.

The article on New Media America also gave suggestions on how to make Filipino cuisine more palatable to American consumers.

"Filipino cuisine could break through the mainstream food scene by making it as healthy as possible, especially by cutting down on grease and sodium i.e. soy sauce,” it said, citing Nicholas von Wettberg, the managing editor with the local Fil-Am Star newspaper.

"Another important step for Filipino chefs is to consider veering away from 'lutong buhay,' or home-style cooking, as much as possible and work towards making it more creative and commercially appealing," it said, quoting Freeman.

“It can’t just be as my mom or grandma makes it. It can be however you want to make it, it can be a modern take, it can be fusion, it can be whatever tastes good, as long as it reflects its roots."

Big, bold flavors

Meanwhile, In the latest edition of Specialty Food, the magazine of international group National Association for the Specialty Food Trade, writer Joanna Pruess noted the "big, bold flavors" of Filipino cuisine.

The magazine has the Filipino lumpia (spring roll) on its cover.

"While similar to other Asian cuisines, Filipino food is less spicy, shares many commonalities with Spanish foods and has distinctive combinations, such as very salty ingredients added to sweets, that make it distinctive," Pruess wrote.

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