...the PH Foreign direct investment in Q1

Philippines foreign direct investment jumps 79%

By Cris Larano
Wall Street Journal
10 June 2014


MANILA--Foreign direct investments in the Philippines rose 79% on year in March to $476 million, bolstered by the more than triple increase in equity and reinvested earnings, the central bank said Tuesday.
                                      
The bulk of foreign equity investments came from the U.S., Japan, Singapore, Hong Kong and Taiwan, and were channeled mainly to financial services, manufacturing, real estate, mining as well as wholesale and retail companies, Bangko Sentral ng Pilipinas said in a statement.
                                      
Equity and reinvested earnings in March jumped to $332 million from $90 million in the year-earlier period, more than offsetting the 19% on-year decline to $143 million of foreign companies' investments in debt securities of their subsidiaries and affiliates.
                                      
For the three-month period ended March, foreign direct investment totaled $1.85 billion, down 12% from $2.10 billion a year earlier due mainly to a 20% drop in equity and reinvested earnings to $821 million,.

 

...the most beautiful island countries in the world

7 Most Beautiful Island Countries in the World

Diana White
Womanitely.com

 

 

There are a few gorgeous island countries in the world that are definitely worth vising. Summer is fast approaching and that means it’s time to start planning your vacation. While there are many fascinating countries in the world to visit, I think there is something more adventurous, exotic and romantic about visiting an island country. Take a look at the list of 7 breathtakingly beautiful island countries in the world, which everyone should certainly visit at least once in lifetime.

1. Malta

 

 

Malta is a beautiful southern European country in the Mediterranean Sea, which has a rich history and culture. There are amazing sky-high cliffs to climb, fabulous temples to explore, mysterious hidden coves, and lots of wonderful places to go scuba diving. In fact, there are plenty of interesting things to see and to do in Malta and this island country has something for everyone. The historic part of Malta has incredible architecture, great walled cities, and many underground tunnels to explore.

2. The Philippines

 

 

One of the most beautiful and best island countries in the world is the Philippines. It’s actually a geographically gorgeous place worth vising any time of the year. The Philippines contain over 7,000 islands, and all of them are beautiful and unique in their own way. There are many wonderful tourist attractions including the Tubbataha Reef, Mayon Volcano, Banaue Rice Terraces, Puerto Galera, Donsol, the Chocolate Hills and many more. The country also offers plenty of interesting activities for you to experience, such as diving, climbing, camping, hiking, bird watching and many others.

3. Australia

Australia is an amazing island country, which everyone should visit at least once in life. It’s often identified as mega diverse country as it boasts a rich culture, fantastic wildlife, nice people, and a plethora of fun and interesting things to see and to do. Australia has literally everything, from the spectacular beaches, canyons, to breathtaking green forests to explore.

4. The Maldives

Not only is the Maldives one of the most beautiful island countries, it is also one of the most popular honeymoon destinations. Situated in the middle of the Indian Ocean, the Maldives is made up of an entire series of incredible ancient coral reefs that grew up along the sides of ancient volcanoes. There is a magnificent ocean, with fascinating beaches and luxury resorts. If you are looking for the best honeymoon destination, the Maldives will be perfect for you.

5. Cuba

Unfortunately, many people don’t even think of visiting Cuba these days. However, Cuba is a charming island country that boasts the clear blue waters, the white sandy beaches, the best coral reefs in the world, the small shops and numerous attractions. This country has a rich culture and history to explore. And if you like to scuba dive or snorkel, Cuba should be number one on your travel bucket list. Cuba is the closest island to North America, so why not visit it this year?

6. Fiji

Fiji is a fabulous island that has plenty of surprises for any adventurous traveler. There is one of the world’s best surf scenes, and many surfing enthusiasts travel to Fiji yearly to ride the great waves. Well, if surfing is not for you and you love sitting on the beach and relaxing or hiking, seeing breathtaking waterfalls, Fiji is certainly the best island country to visit.

7. Japan

I’m sure there’s no other place on the planet like Japan. It’s an island country where East meets West, the cultures do not clash, and where you will never feel bored. You will fill up on ramen, sushi, experience different culture, go hiking in the spectacular hills, and don’t forget to visit Tokyo.

Tokyo’s bars, restaurants, pubs, and clubs are busy each night of the week. If you are a true
shopaholic, Japan is a must visit place for you.

These island countries are not to be missed, and we can’t just describe them. You really do have to visit them in person. I know these countries seem to be luxury, but I strongly believe that every person can visit at least one of these beautiful island countries. The difference is that some people can afford to do it now while others have to save money the whole year or two. Do you want to visit any of the countries mentioned above?

 

...the 2014 Tony awardee

Pinoy producer wins 2 Tonys

 

 

 

By Don Tagala,

ABS-CBN News North America Bureau

06/09/2014

 

 

NEW YORK - A murderous musical called "A Gentleman's Guide to Love and Murder" came out as the 68th Tony Awards' biggest winner on Sunday night.

"Gentleman's Guide" won 4 Tonys out of its 10 nominations -- including Best Musical, Best Costume, Best Direction, and Best Book of a Musical.

Meantime, Denzel Washington's "A Raisin in the Sun" won a Tony for Best Revival of a Play.

But what many kababayans do not know is that behind these productions is a Tony-winning Filipino.

Jhett Tolentino, of Joanjhett Productions, is the recipient of 2 Tonys on Sunday night as one of the co-producers of the 2 shows.

Tolentino, an Iloilo native, is the third Filipino to receive a Tony following Lea Salonga's Best Lead Actress in a Musical award and Robert Bobby Lopez's 2 Best Original Score and Best Book wins.

"I kept thinking of Lea Salonga and Bobby Lopez, those Filipinos who's been there. I'm carrying the tradition that we have to be represented every year, and I'm so honored to be in the producing side," he said.

This is also his third Tony win after receiving his first Tony last year for co-producing "Vanya and Sonia and Masha and Spike" -- the 2013 Tony winner for Best Play.

"It's a home run, it's fantastic. I'm so appreciative of all the love of the community and all the supporters, really. Thank you, thank you, and bringing pride to the Pinoys," Tolentino said.

Meantime, Filipino-American Broadway star Adam Jacobs, who plays the lead role in the Tony-nominated musical "Aladdin," performed live at the Radio City Music Hall last night.

"Oh my God, I still believe he is our Hugh Jackman in the Filipino community, and I'm so glad he got the drama desk nomination for the lead actor. He's underrated, he has to be there. I can't wait for him to be up there too to get a Tony himself," Tolentino said.

Tolentino is also one of the producers of another 2014 Tony-nominated play, "The Velocity of Autumn," as well as the hit musical "Here Lies Love."

 

...the Silicon Valley top talent sources

PH is 6th top source of Silicon Valley talent

ABS-CBNnews.com

Posted at 06/08/2014

 

 

 

Misha Chellam oversees the competition at the Founder Institute's Silicon Valley Sports League in San Francisco, California. Photo by Tim Mosenfelder/Getty Images/AFP

MANILA – The Philippines is the sixth largest source of talent for the global tech companies in Silicon Valley.

An infographic posted on the Bloomberg BusinessWeek website last Thursday listed the top 100 sources of “imported talent,” from both U.S. states and foreign countries.

Mexico emerged as the top talent source for tech workers in Silicon Valley, followed by U.S. states Texas, Arizona, Washington and Illinois.

Bloomberg BusinessWeek noted that while a third of start-ups in Silicon Valley are founded by Indian Americans, the Philippines managed to beat India in the Top 100 list. India ranked ninth, trailing China at No. 7 and New York at No. 8.

The U.S. state of Florida rounded up the Top 10.

According to Bloomberg BusinessWeek, Asian Americans became the majority of the tech workforce in Silicon Valley for the first time in 2010.

In 2012, 51 percent of Silicon Valley’s population spoke a language other than English exclusively at home compared to only 21 percent in the whole of the United States, the magazine said.

 

...the Asian miracle

PH is more than ‘Asian miracle’–BSP

 

Manila Bulletin – Mon, Jun 2, 2014

The Philippines is prepared to take on the risks and challenges of transforming the ASEAN trade grouping into an integrated, powerful economic community, opined Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr.

 

While his words are echoes of past pronouncements, Tetangco reiterates though that the economic growth of the last eight quarters – consistently above six percent GDP -- is not something he would describe as a miracle.

During the recently held World Economic Forum on East Asia, which the Philippines hosted for the first time, foreign officials, delegates, and investors have commonly referred to the country as an Asian miracle, a term Tetangco said may not be appropriate.

“Many during the WEF (called) the Philippines a country turning the tide from being the sick man of Asia to the next Asian miracle. To be perfectly frank though, I do not relish that we are called a miracle,” said Tetangco before a gathering of the country’s retail investors and financial analysts.

“The evidence will show that we are where we are now because of hard-fought reforms.”

In the region and across its ASEAN peers, the Philippines remains one of the fastest growing economies. The first quarter GDP growth of 5.7 percent, although falling short of consensus estimate of six percent, is third highest in GDP rate after China and Malaysia.

“Analysts have described the Philippine economy as being in the ‘pink of health’ and this rosy picture is expected to continue through 2014-2015,” said Tetangco. Consumption and capital formation, he said, continue to be the main drivers of growth.

“Our growth story has been underpinned by solid anchors – low and stable inflation due to credible monetary policy and a sound banking system maintained through responsive regulation,” he said. Inflation has remained within target for five consecutive years.

Tetangco also pointed out that local banks continue to be well-capitalized with a capital adequacy ratio of well above the 10 percent requirement and the standard eight percent by the Banks for International Settlements.

“Likewise the adoption of Basel 3 in 2014 is expected to strengthen further the financial system,” he said.

Tetangco said the healthy external sector position continue to shield the economy and the domestic financial market against financial market volatilities after the US Federal Reserve commenced its tapering move last year.

With the US Fed taper of asset purchases in place, markets are now watching developments in growth and unemployment in the US, to see if the Fed will change the perceived path of the taper, and when the “lift-off” (or when Fed would raise rates) would be, observed Tetangco.

“In this period of uncertainty and market volatility, good surveillance is key,” he stressed. “The BSP will not hesitate to deploy contingency measures in response to sharp volatility in capital flows. With an expanded monetary policy toolkit and a broad-range of macroprudential measures to help ensure financial stability, we are optimistic that we are equipped to deal with potential market volatility.”

In the meantime, the country’s favorable external sector dynamics has improved external liability management. The current account has been in surplus for 11 consecutive years.

The favorable sentiment is a positive multiplier, said Tetangco. “Both consumers and businesses continue to express upbeat views about the Philippine economy's growth trajectory,” he added. The positive sentiments are indicative of the “broad support to the general direction of economic policies, and this is expected to fuel the momentum of reforms moving forward.”

With sustained positive developments in almost all sectors of the economy, the outlook in 2014 remains upbeat.

“We are optimistic that GDP growth will reach the government’s growth target of 6.5 to 7.5 percent for the year,” said Tetangco. He is also confident inflation will settle within the three percent to five percent target for the year.

“External sector dynamics will remain favorable, as trade is expected to rebound in light of expected global turnaround while remittances are seen to remain on a steady growth path,” the BSP chief said.

 

...the Asia's best parks

Rizal Park one of best parks in Asia — survey
            

By Donnabelle Gatdula

The Philippine Star

May 29, 2014

 

 

MANILA, Philippines - The newly rehabilitated Rizal Park was cited as one of the best parks in Asia, according to the latest survey made by Agoda Company PTE Ltd. (Agoda.com), one of Asia’s leading hotel booking sites.

In a statement, Agoda.com said Rizal Park, also known as Luneta Park, ranked eighth in a competitive regional list.

The output was based on customer feedback and analyzed booking information to present Asia’s highest rated parks and green spaces as selected by Agoda.com customers.

According to Agoda.com, travelers surveyed loved a wide range of green space options from lush expanses of jungle to manicured parklands.

The list includes huge national parks perfect for hiking or outdoor activities, marine parks for diving or kayaking, and green areas in the middle of a city that offer important historical context. All of the entries on the list have left a large enough impression on Agoda.com customers to warrant consistently high ratings.

In the middle of the sprawling Philippine capital, Rizal Park is both a beautiful escape from the traffic and noise and a potent symbol of the country’s tumultuous history.

The park takes its name from national hero Jose Rizal, author and Filipino nationalist who was executed in 1896 for promoting sweeping social reforms during the Spanish colonial era.

The 140-acre park is located next to the famous Intramuros walled city.

It is one of the most popular spots in Manila for locals to picnic, exercise and relax among gardens and greenery.

Adjacent to the park are the Museum of the Filipino People, Department of Tourism and the National Library. An impressive monument to Rizal stands on the western end.

Trivia note: all road distances in the Philippines are measured from Kilometer Zero, just across the street from the Rizal Monument.

In 2011, Rizal Park underwent a massive renovation by the National Parks Development Committee (NPDC) aimed at restoring significant elements of the park.

The plans included the rehabilitation of the old musical dancing fountain located on the 40 m x 100 m pool, which is the geographical center of the park. The renovation was handled by German-Filipino William Schaare, the same person who built the original fountain in the 1960s.

Restoration in the park also included the Flower Clock, which was set for the inauguration on the 113th Philippine Independence Day; the Noli me Tangere Garden and the Luzviminda Boardwalk.

Agoda.com has also provided some great hotel recommendations to round out a perfect trip to visit Rizal Park such as the Manila Hotel, Hotel H2O and Bayleaf Intramuros Hotel.

Other national parks in Asia that made it to Agoda.com’s list are Hallasan National Park Jeju-do, South Korea; Taroko National Park, Taiwan; Osaka Castle Park, Osaka, Japan; Halong Bay, Vietnam; Ang Thong National Marine Park, Ko Samui; Khao Yai National Park, Thailand; and Penang National Park, Malaysia.

Aside from being the leading online hotel reservations company, Agoda.com specializes in securing the lowest discount hotel prices.

Agoda.com includes more than 360,000 hotels worldwide. The multinational staff of more than 1,400 professionals, located throughout the world, provide a first-rate reservation service that uniquely combines local knowledge and local connections to provide the best hotel deals to both business and leisure travelers.

 

...the (still) star of Asia

Philippines still 'star of Asia' despite GDP miss

 

Katie Holliday | @hollidaykatie

Thursday, 29 May 2014

 

 

 

Seongjoon Cho | Lonely Planet Images | Getty Images

Manila, Luzon, Manila, Philippines, South-East Asia, Asia

The Philippines posted weaker-than-expected first quarter growth, but Southeast Asia's 'rising star' economy is still rising, analysts say.

Gross domestic product (GDP) expanded 5.7 percent from January to March, official data showed Thursday, below expectations for a 6.3 percent rise and marking the first sub-6 percent growth rate in nine quarters.

But analysts don't believe growth momentum has been derailed.

"Overall, the Philippines remains the bright spot in Asia. We expect GDP to gain momentum in the next quarters. The upside risk is that reconstruction activities may give a stronger impetus to growth and compensate Q1 under performance," Cynthia Jane Kalasopatan of Singapore's Mizuho Bank told CNBC.

Robust growth in recent years earned the Philippines the title 'Asia's rising star.' In 2013, it was Asia-Pacific's second fastest growing economy after China with growth of 7.2 percent.

But the economy was hit hard by a typhoon in November that killed 6,000 people and damaged crops. Analysts were concerned about the economic recovery, especially given the country's high unemployment and poverty rates.

The government began its reconstruction spending program earlier this year, but the effects were not as immediate as hoped, Mizuho's Kalasopatan said.

"It appears that the effects of Typhoon Haiyan were more severely felt in Q1. The breakdown of GDP components reveals that government spending was not as strong as expected," she said, adding that consumption also made a weaker growth contribution compared with the previous quarter. The poor performance in the nation's stock market also dampened growth.

Despite these negative factors the economy shows signs of resilience; this led Kalasopatan to maintain her 2014 growth forecast of 6.5 percent.

Private investment and net exports have surprised to the upside, Kalasopatan said. She expects reconstruction activity - another key growth driver - to pick up soon.

 

Other economists told CNBC the GDP number was a temporary setback. They are bullish on the prospect for a bounce back.

"We expect a rebound over the coming quarters, which would ensure the Philippines remains one of the region's strongest performers," said Daniel Martin, Asia economist at Capital Economics.

"The breakdown of the data was more encouraging than the headline numbers," he added.
 
Martin highlighted fixed capital formation, which grew to 11.2 percent compared with 8 percent in the previous quarter; exports, which rose to 12.6 percent compared with 3.6 percent; and public spending, which rose 2 percent after contracting in the previous quarter.

Other encouraging factors include resilient household spending despite higher food prices following the typhoon, said Martin. Remittances - wages sent home by Filipinos working overseas - will likely continue to support households.

"The broader demand outlook is still robust... we do not see the weak Q1 growth figure as part of a sustained slowdown," he said, adding that Capital Economics maintains its 2014 and 2015 growth forecasts of 6.5 percent and 7 percent.