Time to move on for the better

I have a very strong belief that the Philippines and its people are underadvertised and misreported. There are lots of good things about them that has to be echoed and resounded to give a more positive reputation about both the beautiful country and amazing nation of brown race.

For almost 5 decades of murkiness by mismanagement of government and its funds, social and political problems and economic downfall due to uncertainties, the world has looked down to the Philippines and branded it as 'the sick man of Asia.' But the turn of events in the past years, the Philippines has rebounded into a promising frontier in terms of economic investment, tourism, cultural and labor development. Now, it is considered as one of the world's brightest economic spots.

These inspiring developments about the Philippines and its fun loving, hospitable and highly spirited people has prompted us to echo and trumpet the triumphs of this God favored nation. Truly, we felt the need that her positive and awe-inspiring news and achievements should be announced to the rest of the world to regain the admirations it enjoys almost half century ago. This is why I have created this blog to serve that purpose.

However, with its current state (my blog) as a copy cat or shall I say Copy and Paste style, it seems not worthy to publish at all. It only serves as a compiling chamber for good news about the Philippines but can never really initiate forward actions to effect lives and contribute to the well being of the coubtry and the human race as a whole. This is why, it no longer published additional news and features about good things happening among Filipinos after the 41st article posted last month.

I have decided to cease from becoming an echo device from source publications and websites by putting it to rest and make use of the bought out opportune time to a more noble cause.

Hence, no more aticle will be added on this blog site to give way to a new creation with the ambition to be of service and of help to humanity.

I beg that you will continue to support me with my new venture www.IwishIhelp.com. Coming Soon!

Visit also my other blog: www.iiwbpresident.blogspot.com.

Global and local hotel chains expand PHL operations

By Tessa R. Salazar

Makati Skyline 2 courtesy of The GNP Team.

Marco Polo Hotels, Ascott The Residence, Maxims Genting, City of Dreams, Solaire Resort and Casino, Hyatt, Marriot Manila, Shangrila Hotels and Resorts, Conrad Hotels and Resorts, The Westin Philippine Plaza Manila, Hilton, Sheraton Hotels and Resorts.

These are just some of the international luxury hotel operators that would either come into the country or experience boom times from 2014 to 2017, as forecast by CBRE Philippines. It also reported that luxury hotel accommodations would play a major role in the hospitality sector, and that MICE (meetings, investments, conventions and exhibits) locations would pick up their businesses, and gaming establishments would draw in more foreign guests.

Property analyst Enrique M. Soriano III said, “Retail and hotels will likely post solid growth as employment and spending in the domestic front continue.”

The Colliers International market overview (for 4Q 2013) predicted that in the next three years, up to 4,300 rooms would be “delivered” annually, the highest number since 1988.

“Meanwhile, local real estate firms are entering the hotel and leisure sector, as SM Prime Holdings, Ayala Land and Robinsons Land introduce their new projects slated for completion in the next three years,” noted Colliers International Philippines Research. It added that last year, 1,372 new hotel rooms opened in Metro Manila, bringing the total room inventory to 17,517.

Jones Lang La Salle, in its JLL 2014 property market monitor, singled out Robinsons Land Corp. (RLC), which recently opened its seventh Go Hotel branch in Iloilo City. This one has 167 rooms

JLL forecasts more of such branches to be built over the next few years as RLC has offered the brand for franchise. In particular, Singapore-based Vanguard Hotels Pte. Ltd., in partnership with Roxaco Land Corp., is set to construct at least five new branches in the next two years.

JLL also cited residential property developer Vista Land & Lifescapes Inc., which plans to venture into hotel and resort development. According to the firm, the planned venture is mainly supported by the strong performance of the tourism industry. The firm has formed a new unit that would focus on the development of hotels and resorts, likely starting in 2015.

Colliers International Philippines’ comprehensive report indicated that of the 4,120 rooms to be completed in 2014, more than 40 percent would be concentrated within the Pagcor Entertainment City, such as Belle Grand City of Dreams (920 rooms) and the surrounding Mall of Asia Complex, such as Radisson Hotel (500 rooms) and Tune Hotel (204 rooms).

It also revealed a new player in the hotel and leisure market—Shanghai Jin Jiang International Hotels—one of the leading hotel groups in China, with two projects slated for turnover in 2014, the Jin Jiang Inn Ortigas (95 rooms) located beside Richmonde Hotel and the Jin Jiang Inn Greenbelt (70 rooms) located opposite New World Hotel Makati.

“As the government strives to reach its foreign tourist arrivals target of 10 million in 2016, local real estate firms are joining the hotel and leisure sector to augment the accommodation needs of foreign travelers,” reported Colliers.

It added that the Carlson Rezidor Group had partnered with the SM Hotels and Conventions Corp. (SMHCC) to launch the 150-room Park Inn by Radisson in Clark, Pampanga. This project is set for completion in 2016.

Colliers also observed that Ayala Land, through its hotel and resort corporation, had launched two new Seda hotels in its emerging mixed-use developments in Vertis North and Circuit Makati, both of which would be operational in the next three years.

RLC, for its part, aims to complete 1,200 rooms in its portfolio by 2014 by launching three Go Hotels—one in Ortigas Center, another in Butuan and one in Iloilo.

(Story courtesy of Philippine Daily Inquirer)

Fil-Am Author’s Book Tops Amazon’s Hot New Releases -

Taken from AsianJournal.com

Photo: courtesy of asianjournal.com

Book shares tips that women can learn from the gracefulness and graciousness two Pinays, Marie Claire Lim Moore and her mother, Lenore Lim, who are successful in the corporate and art worlds, and happy at home. 

The “Filipina American Sheryl Sandberg” holds “Don’t Forget the Soap” book launch and signing in New York on September 17th. New York, NY (September 12, 2013) – 

The #1 book on Amazon’s Parenting and Adult-Child Relationships category was written by a Pinay who enjoys juggling her career as a top banking exec and growing family, fundraising for Filipino community events and promoting foreign direct investment in the Philippines. M

arie Claire Lim Moore is a Filipina-Canadian-American working mother and author of Don’t Forget the Soap. After spending the early part of her childhood in Vancouver, Claire moved to New York City and attended the United Nations International School. She went on to study at Yale, climb the corporate ladder at Citi and travel around the world. She met her husband, Alex, while working in Sao Paulo, Brazil and they married in Manila, Philippines shortly before moving to Singapore. 

Now Mom to Carlos and Isabel, Claire also manages the Global Client business for Citi in Asia. From someone who is probably among the highest-ranking Filipina Americans in global finance, comes a book – not about the steps to take at the corporate ladder, or the tips to note to get the corner office, or get admitted in Yale, but a memoir of how her mother, Lenore Lim, an early education teacher and artist, taught her the importance of balance – in work and in love, in academics and socials, and in time and money. 

Combining her Filipino upbringing, United Nations exposure, Ivy League education, and reminders from her mother, this Filipina American financial services guru was able to climb the corporate while keeping her feet on the ground. In “Don’t Forget the Soap,” new author, daughter, wife, mother and corporate leader Marie Claire Lim Moore shares how she was able to travel and work around the world, while keeping her ego in place, and her heart at home.

 Lim Moore released her e-book on Amazon on September 10, and within 24 hours of its launch, it catapulted to the top spot in Parenting and Relationships and #11  in Women’s Biographies. About the Book Launch and Signing On Tuesday, September 17th, 6pm, Lim Moore will have her first book launch in New York – at the Philippine Center on Fifth Avenue.

 This week, the Filipino American community welcomes back one of the most influential Filipino American professionals who grew up, walked the streets of and climbed the corporate ladder in New York before taking on the world in South America and Asia Pacific in her new post as Citi’s Asia Pacific Regional Director in Singapore. 

Friends old and new will help celebrate Claire’s debut in taking on yet another role, as an author. In her newest position, Claire hopes to share all the good stuff she’s learned from her Filipino parents, that proved useful as she navigated the UN, Yale, NYC and the world. Claire’s first book launch and signing  is scheduled on Tuesday, September 17, 2013 at 6pm and will be held at the Philippine Center on Fifth Avenue in New York.

 The public is invited to attend. Don’t Forget the Soap is also available as an e-book on Amazon.com. (http://bit.ly/dontforgetthesoap) About the Author Marie Claire Lim Moore (October 30, 1976) is a Filipina-Canadian-American working mother and author of Don’t Forget the Soap. After spending the early part of her childhood in Vancouver, Claire moved to New York City and attended the United Nations International School. She went on to study at Yale, climb the corporate ladder at Citi and travel around the world. She met her husband, Alex, while working in Sao Paulo, Brazil and they married in Manila, Philippines shortly before moving to Singapore. 

Now Mom to Carlos and Isabel, Claire also manages the Global Client business for Citi in Asia. She enjoys juggling career and family and likes to throw in community and politics for fun by campaigning for US political candidates, fundraising for organizations that advance the role of women in business and promoting foreign direct investment in the Philippines. She is also a guest contributor at Sassy Mama Singapore. 

www.facebook.com/marieclairelimmoore www.twitter/com/MarieClaireLM About Claire at Work: Marie Claire Lim Moore is currently Asia Pacific Regional Director of Citi Global Client Banking responsible for 14 markets in Asia and over half a million customers. Claire has 15+ years of extensive international experience managing cross border consumer banking and payment products. She started her career in the Establishment Services Division at American Express where she managed strategic relationships with the company’s largest travel partners including Delta Air Lines. She left the firm in 1999 to join friends and former Yale classmates who were starting an internet company focused on small business needs.

 In 2001 she joined Citi Cards in the US where she led the shift from traditional to online marketing. In 2005 she started working on the international side of the business covering local markets including Brazil and the Philippines. Since then she has held various senior level positions including her most recent role as Asia Pacific Regional Director. Throughout her career, Claire has merged her passion for creating exceptional client experiences with the desire and drive for global innovation. 

About the Book: At the center of many good stories – inspiring, entertaining, admittedly corny – is Marie Claire Lim Moore. Ask her about the time she and her family sat down with former Philippine President Corazon Aquino. Or the time she built houses in Mexico alongside former American President Jimmy Carter. 
Equally engaging are her every day experiences and perspective on life. You will be interested to hear what she thinks is a relationship “deal breaker” or why Christmas should be regulated or why kids shouldn’t say, “I’m bored.” After spending the early part of her childhood in Vancouver growing up with ‘80s sitcoms and Philippine People Power demonstrations, 

Claire moved to New York City at the age of twelve and attended the United Nations International School where she sang on stage with Debbie Gibson and received her high school diploma from Kofi Annan. She went on to study at Yale, climb the corporate ladder at Citi and jet set around the world. Don’t Forget the Soap is a collection of anecdotes from different points in Claire’s life: stories from the tight-knit Filipino community in Vancouver mix with memories of her move to New York, experiences at Yale and travels as a young executive. 

Underlying this narrative is the story of a global citizen who does not want to forget the fundamental values that come along with the “immigrant experience” as she and her husband raise their children in the increasingly glitzy expat bubble of Singapore. Her parents continue to remain a big influence in her life and her mother’s reminders a grounding force. These stories will warm the heart and resonate with people of any culture. *** 

Find out why Claire Lim, whom I call the Filipina American Sheryl Sandberg, chose to devote her entire first book to what she learned from her mother Lenore Lim, whom she refers to as the Filipina Martha Stewart, Emily Post, and Clair Huxtable all rolled into one. Find out what we and the rest of the ladies out there, can learn from the gracefulness and graciousness of these two Pinays who are successful in the corporate and art worlds, and happy at home. 

Don’t Forget the Soap is also available as an e-book and for download on Amazon.com For more information, log on to www.amazon.com/author/marieclairelimmoore or follow Claire at www.facebook.com/marieclairelimmoore or twitter.com/marieclaireLM - See more at: http://asianjournal.com/arts-and-culture/fil-am-authors-book-tops-amazons-hot-new-releases/#sthash.ZlocpWWr.dpuf

JP Morgan raises PHL growth forecast in 2014

By The GNP Team

Photo Courtesy of JP Morgan Chase.

American financial services giant JP Morgan forecasts the Philippine economy to expand at a faster pace than previously thought in 2014.

JP Morgan in a research report raised up its gross domestic product (GDP) growth forecast for the Philippines to 6.6 percent, or one percentage point higher than its outlook three months ago.

Although the new GDP forecast is slower than the 7.2 percent growth posted in 2013, which was an election year, the growth forecast is two percentage points better than the average forecast for emerging market peers and not too far from the 6.5-percent consensus outlook.

In the report, JP Morgan said it expected economic momentum as measured by quarter-on-quarter seasonally adjusted annual rate of GDP growth firming up at 8.7 percent this first quarter of the year before easing to 5.3 percent in the second quarter. Quarter-on-quarter growth is seen picking up to 6.6 percent in the third quarter and 7 percent in the last three months of 2014.

“We believe that robust macro growth will translate to EPS (earnings per share) growth surprise this year; we think banks will be the catalysts,” said JP Morgan Philippines head of research Jeanette Yutan.

“Domestic demand growth is robust. Government spending momentum is intact while capex (capital expenditure) cycle is seen across the major Philippine conglomerates,” she said in the research note.

Overseas Filipino remittances and the robust business process outsourcing (BPO) sector remain key domestic growth drivers, the study said.

JP Morgan included the Philippines and Indonesia in the roster of nine emerging markets where it has an “overweight” rating on, suggesting an increase in position in excess of key benchmarks. The other favored emerging markets are Korea, Taiwan, India, Thailand, Russia, Greece and Peru.

Palawan and Boracay named two best islands in the World

By The GNP Team

The Philippines’ very own Palawan and Boracay islands were hailed as the best in the world by the readers of an upscale travel magazine.

El Nido Beach in Palawan Islands, Philippines. (Photo: palawan_resorts.com)

Travel + Leisure recently released the results of its “World’s Best Awards 2013,” which is based on votes from the magazine’s “discerning” readers.

Palawan debuted at No. 1 in the “Top 10 islands” category, unseating Boracay, which has been praised by several magazines for its powdery white sand and crystal clear waters. It received a score of 95.04.

Boracay, which topped the list last year, landed in second place with a score of 93.58.

Maui in Hawaii ranked third, followed by Santorini in Greece, Prince Edward Island in Canada, Bali in Indonesia, Kauai in Hawaii, Sicily in Italy, Koh Samui in Thailand, and Galapagos.

In an article published in the Wall Street Journal last April, writer Wells Tower lamented how Boracay has suffered from overdevelopment, while praising Palawan for being a “diminishing rarity.”

A month later, Catharine Hamm of the Los Angeles Times wrote a scathing article on Boracay, basing it on her visit last year.

Boracay Island in the Philippines. (Photo by: Trip advisor.com)

Addressing Travel + Leisure magazine, Hamm wrote: “Can Travel + Leisure be wrong? That’s the magazine that crowned Boracay the best island in the world… After my visit last year to this island 250 miles southeast of Manila, I decided that yes, they could be wrong. Or misguided. Or I could be.”

But most of the online readers of the LA Times disagreed with Hamm’s article, saying that they enjoyed their stay in the Philippine island.

(Story courtesy of ABS-CBN News)

‘Soft drink tax’ to generate P10.5-B revenues

By Imee Charlee C. Delavin (from Businessworld Online)

Coca Cola remains the strong market leader of bottled soda in the Philippines. (Photo: Ilagan City, Isabela Coca-Cola Plant. Courtesy of nornad927@gmail.com)

THE DEPARTMENT of Finance (DoF) on Tuesday said the government could generate about P10.5-billion additional revenues by imposing a 10% ad valorem tax on soft drinks and other carbonated beverages.

"About P10.5-billion revenues can be generated from higher tax on soft drinks and other non-alcoholic, carbonated drinks," Stella B. Montejo, head of the DoF Fiscal Policy and Planning Office told the House committee on ways and means during the hearing on House Bill (HB) 3365 or the proposed An Act Imposing a 10% Ad Valorem Tax on Soft drinks and Carbonated Drinks.

Citing studies showing that the increased price would lead to reduced consumption, Ms. Montejo noted that raising the prices of soft drinks and carbonated beverages -- as a result of imposing additional tax -- will consequently reduce consumption.

The National Tax Research Center (NTRC) through its officer-in-charge, Deputy Executive Director Teresita L. Solomon, projected an additional revenue of P7.7 billion for the government coffers.

BETTER HEALTH
While the Finance department cited the financial gains of imposing additional tax on soft drinks and other carbonated drinks, the Department of Health (DoH) on the same hearing cited the possible health benefits of the move, which the department said would possibly decrease cases of diabetes "once consumption of said sweet products will be reduced."

Health Undersecretary Nemesio Gaco said the reduced consumption will ensure better health for Filipinos, as he noted that soft drinks’ caloric content "is too high causing various ailments such as diabetes."

Mr. Gaco said about 44 Filipinos die of diabetes everyday, and medical experts said this could be attributed to excessive consumption of soft drinks.

Meanwhile, lawyer Adel A. Tamano, vice-president for public affairs and communications of Coca-Cola Philippines, Inc., and who also represented the Beverage Industry Association of the Philippines at the hearing, said the tax would impact adversely not only on soft drinks makers but more importantly, retailers, who he called are "the pillars of the industry." "There are many ways to provide employment and income, not only through taxes," Mr. Tamano said.

RICE BLAMED
He noted that it is not fair to "demonize" a specific beverage as being the sole cause of diabetes among Filipinos.

"In the Philippines, in terms of percentage, where do most Filipinos get their calories? It’s not from soft drinks. It accounts for less than 10% of the caloric intake. It’s from rice. If the issue here is caloric intake, don’t look at soft drinks," he said.

HB 3365 was filed on Nov. 18 last year by Nueva Ecija Rep. Estrellita B. Suansing (1st district). It was referred to the Committee on Ways and Means last Nov. 25 for consideration.

The proposed bill seeks to insert a new section. which will be designated as Section 150-A Chapter IV, Title VI of the National Internal Revenue Code.

The new section will read: "Soft drinks and Carbonated Drinks. There shall be levied, assessed and collected a ten percent (10%) ad valorem tax on soft drinks and carbonated drinks sold in bottle and other tight container." "The amount to be collected under this Act shall be designated as the Rehabilitation Fund for victims of calamities to be allotted for the rehabilitation program such as livelihood development, mass housing, road construction and other infrastructure projects on places affected by sever and destructive natural calamities," the bill read.

In filing HB 3365, Ms. Suansing said the country needs necessary funds and revenues for the rehabilitation of areas heavily damaged by the destructive calamities that hit the country last year including typhoon Yolanda (international name: Haiyan) which killed at least 6,201 and caused infrastructure and farm damage pegged at some P39.82 billion.

"Aside from rehabilitation fund, another purpose of the bill is to curb the consumption of soft drinks and carbonated drinks. There have been studies which have shown that consumption of soft drinks and other carbonated drinks increase the risk of developing health problems," she added in the explanatory note of the bill.

Ms. Suansing noted that taxation of non-alcoholic beverage is not a new concept.

"Other countries like the USA, France, Netherlands and Finland have realized the need to impose taxes on soft drinks and carbonated drinks," she said.

At present, Ms. Suansing said the soft drink industry is being subject to value-added tax (VAT), income tax, withholding tax, local and real property taxes, and customs duties. "On the other hand, flavored and colored syrups used in the manufacturing of soft drinks are not subject to excise tax, and only to the 12% VAT and customs duties if these are imported," she added.

Buisnessworld Online News: APEC venue in Iloilo to be completed by October

Iloilo Convention Center is a P500-million project in the Iloilo Business Park in Mandurriao, Iloilo City, Philippines which is expected in to be completed in 2014. It will be built on a 1.7-hectare of lot in the district of Mandurriao donated by the Megaworld Corp. The Tourism Infrastructure and Enterprise Zone Authority will allocate P200 million for the construction of the convention center, while another P250 million will be sourced from the Priority Development Assistance Fund of Senator Franklin Drilon. (Photo & Caption taken from: http://jebjovero.wordpress.com)

ILOILO CITY -- The Department of Public Works and Highways (DPWH)-Western Visayas said it is rushing the construction of the Iloilo Convention Center (ICC) to meet the requirements for Iloilo City’s bid to host the ministerial meetings of the 2015 Asia-Pacific Economic Cooperation (APEC) summit.

Al V. Fruto, DPWH-Western Visayas planning division chief, said they want to finish the convention center on or before October 2014.

The APEC-National Organizing Committee (APEC-NOC) has pre-selected Iloilo to host ministerial meetings on food security and transportation in the middle of October 2015.

Iloilo City Mayor Jed Patrick E. Mabilog said the completion of the convention center was one of the concerns raised by the APEC-NOC inspection team during the latter’s visit last week.

Mr. Mabilog said it would be ideal if the convention center is completed before the last quarter of 2014 "so the NOC can have ample time to prepare all protocols and setups for the ministerial meetings."

"If the deadlines cannot be met, the APEC-NOC required us to come up with a backup plan," he added.

Aside from the convention center, Mr. Mabilog said new hotels such as Richmonde-Iloilo and The Courtyard by Marriott (which are all located at the Iloilo Business Park) must also be finished within the year.

Some 42 ministers as well as about 2,000 staff members, delegates and journalists are expected to arrive in Iloilo for the APEC meetings.

The convention center is being constructed on a 1.7-hectare lot inside the Iloilo Business Park project of property developer Megaworld Corp. It will become the main venue of the APEC meetings in Iloilo.

Megaworld donated the site of the convention center to the Department of Tourism through the Tourism Infrastructure and Enterprise Zone Authority.

Edilberto D. Tayao, DPWH-Western Visayas regional director, said Hilmarc’s Construction Corp. won the bidding for the first phase of the project, which costs around P479 million.

Mr. Tayao said the first phase includes site development, putting up the foundations of the convention center and construction of the "shell" or basic structure of the building.

The second phase, which will cost around P300 million, will entail the installation of basic amenities and equipment in the convention center.

Mr. Tayao said they plan to outsource the management of the convention center to private firms once it becomes fully operational.

"The remaining P200 million will come from the private sector management group that will win the contract to operate the ICC. Of course, the management contractor will have to choose the equipment and other amenities needed to run the building," Mr. Tayao explained. -- Francis Allan L. Angelo

Bloomberg News: Top Philippine Fund Doubles Consumer Stocks With Record Bet

The Philippine Stocks Exchange. (Photo by: http://tradingedgeconsultancy.com)

The top-performing Philippine stock fund in the past five years has doubled holdings of consumer companies as record remittances boost the spending power of shoppers in Southeast Asia’s fastest-growing economy.

The UBP Large Cap Philippine Equity Portfolio (IFDLCPE) increased positions in the consumer industry to a record 60 percent of assets from about 30 percent in mid-2013, said Robert Ramos, who oversees about $897 million as the chief investment officer at Union Bank of the Philippines. Holdings include Emperador Inc. (EMP), the nation’s largest liquor company, and Puregold Price Club Inc., the biggest grocery-store operator. Both stocks have jumped at least 12 percent this year.

Overseas remittances to the Philippines increased a bigger-than-estimated 9.1 percent in December, while slower inflation last month eased pressure on the central bank to raise interest rates that have stayed at a record low since October 2012. Consumer spending accounts for almost three quarters of the $250 billion economy, which grew at a 6.5 percent pace last quarter.

PSEi breaches 6,500

(Taken from Bussiness World Online)

The Philippine Stocks Exchange has been one of the top performing bourse since 2011. It records World's 3rd in terms of performance during that year. (Photo by http://alberta.filipinojournal.com)

THE PHILIPPINE Stock Exchange index (PSEi) soared yesterday to its highest level this year, breaching the 6,500 mark, on the back of a rally in Asian shares, slower domestic inflation and positive corporate earnings, analysts said.

The benchmark index surged 60.68 points or 0.94% to settle at 6,516.82 after moving between 6,487.94 and 6,520.33 during the session. That was the index’s strongest finish since the 6,519.58 recorded on Nov. 5 last year.

The broader all-shares index was also in green territory, gaining 29.15 points or 0.75% to 3,910.63.

“There was a spillover optimism on the back of lower-than-expected inflation number,” said Gregg Adrian R. Ilag, analyst at AB Capital Securities, Inc.

Headline inflation eased to 4.1% in February, below market’s consensus of 4.3%, giving monetary authorities the leeway to keep policy rates steady at its meeting later this month.

Grace C. Cerdenia, senior analyst at online brokerage firm 2TradeAsia.com, said the lower inflation reinforced investors’ expectations that the central bank’s key overnight borrowing rate will remain at a record low of 3.5%.

Philippine shares tracked regional markets that extended their rally as diplomatic efforts to abate tensions between Russia and Ukraine were enough to calm investors’ immediate fears of a military confrontation, Mr. Ilag added.

Hong Kong’s Hang Seng climbed 123.19 points or 0.55% to 22,702.97; Japan’s Nikkei 225 index jumped to a five-week high, adding 237.12 points or 1.59% to 15,134.75; while China’s Shanghai composite index edged up 6.49 points or 0.32% to 2,059.58.

Papa Securities Corp. analyst Joanna M. Capiral said investors snapped up shares of JG Summit Holdings, Inc., LT Group, Inc., Emperador, Inc., Petron Corp., and GT Capital Holdings, Inc.

“The extended rally was buoyed by positive corporate earnings results and rosier outlook in the economy,” she said.

JG Summit gained 95 centavos or 1.93% to close at ₱50.05 apiece, while LT Group rose 40 centavos or 2.32% to ₱17.64.

Emperador saw its shares increase by 2.90% or 34 centavos to ₱12.08; Petron added 50 centavos of 3.73% to ₱13.90; while GT Capital climbed ₱18 or 2.30% to close at ₱800.50 apiece.

A total of 5.05 billion shares valued at ₱12.75 billion changed hands from Wednesday’s 1.74 billion shares worth ₱12.95 billion.

Foreigners were in an acquiring mood for the eighth straight session, with net foreign buying amounting to ₱1.38 billion, slightly higher than the previous day’s ₱1.34 billion.

Advancers outperformed decliners, 86 to 82, while 38 issues were unchanged.

Four out of the six counters ended the day in the green.

Industrial jumped 120.71 points or 1.24% to 9,885.77; holding firms added 64.31 points or 1.09% to 5,941.01; financials gained 15.55 points or 1.00% to 1,576.67; while services rose 18.18 points or 0.95% to 1,941.36.

On the other hand, property lost 9.78 points or 0.39% to 2,472.19; while mining and oil shed 55.29 points or 0.38% to 14,465.01.

Jonathan L. Ravelas, chief market strategist at BDO Unibank, Inc., said: “Market’s momentum continues to be on the upside. Seeing a test of the 6,600 to 6,650 level, supported by foreign buying and good earnings.”

2TradeAsia’s Ms. Cerdenia, for her part, said: “Having broken the 6,500 level, a market breather is anticipated again to reinforce stability before the index continues its ascent. Investors will be looking at geopolitical developments to determine market’s direction.”

She placed market’s support at 6,450 to 6,500 and resistance at 6,550. -- J.D.T.C.C.

Phl seen to benefit from FTA between Asean, HK

By Louella D. Desiderio (The Philippine Star)

The Association of South East Asian Nation pursuing free trade agreement with Hong-Kong. (photo taken from bilaterals.org)

MANILA, Philippines - The Philippines expects to benefit from a possible free trade agreement between the Association of Southeast Asian Nations (ASEAN) and Hong Kong,  a trade official said.

“It (ASEAN-Hong Kong) will benefit us because a significant part of Philippine-China trade goes through Hong Kong,” Trade Secretary Gregory Domingo told reporters.

To the extent the free trade agreement would allow easier flow of goods, he said the deal is seen to be positive for the Philippines.

The ASEAN economic leaders announced last year that it would pursue a free trade agreement with Hong Kong.

This, after Hong Kong expressed interest to accede to the ASEAN-China deal.

Domingo said studies are being conducted for the possible free trade agreement.

Data from Hong Kong’s Trade and Industry department website showed ASEAN countries such as Malaysia, Vietnam and Singapore are among the top destinations of the territory’s exports in 2012.

Malaysia and Singapore are also among the biggest sources of HongKong’s imports in the same year.

Aside from China, the ASEAN has free trade agreements with Korea, India, Japan, Australia and New Zealand.

The 10-member ASEAN aims to consolidate all its free trade agreements into one regional free trade network, the Regional Comprehensive Economic Partnership (RCEP).

The RCEP is targeted to be completed by 2015.The ASEAN is also set to establish by December 2015 the ASEAN Economic Community (AEC).The AEC would transform Southeast Asia into a region with free flow of goods, services, investments, skilled labor as well as capital.    

Earth Faces to uplift lives of Yolanda survivors

By Danny Dangcalan (The Philippine Star) 

The Earth Faces team poses for a photo for five selected families who survived Super Typhoon Yolanda  on Suyac Island in Sagay City, Negros Occidental yesterday. DANNY DANGCALAN

BACOLOD CITY, Philippines – The Earth Faces project featuring 100 families that survived Super Typhoon Yolanda is seeking to uplift their lives and raise public awareness on climate change.

Through photographs and videos, the families will share their stories regarding the onslaught of the typhoon and how they lived through the storm, as well as those who helped them after the storm.

These photos and videos will illustrate the hope and resilience of the survivors and the Filipino people.

When Yolanda struck, 10 million Filipinos in 51 cities and 41 provinces were affected. 

Families lost precious photographs and other family mementos and treasures.

Headshot Clinic and Facial Care Center have joined forces for the Earth Faces project, which intends to raise awareness on climate change as a major contributor to the increased incidence and intensity of extreme weather events such as droughts, heat waves, floods, and tropical storms.

Cristine Mansinares, supervising tourism operations officer of the Negros Occidental provincial tourism office, told The STAR the Earth Faces team went to Sagay City in Negros Occidental yesterday to select five families whose survival stories are the most inspiring, shoot a family portrait in a mangrove location, and document their stories.

Earth Faces has selected Suyac Island in Sagay City for the project.

The Earth Faces team is composed of celebrity photographer Niccolo Cosme of Headshot Clinic, together with Dwight Henry Bayona and Ruma Kristine Arias, environmentalist Anna Oposa of Save Philippine Seas, Nory Joy Torres of Facial Care Center and Dream Project PH founder Prim Paypon Jr.

The Earth Faces team approached members of Dream Project PH when they saw on social media websites the group’s successful Negros Needs You campaign that had raised P2 million in donations for the victims of Typhoon Yolanda in Sagay and Cadiz cities.

The five families to be featured were also beneficiaries of the relief operations.

Dream Project PH distributed the donations to the residents of Cadiz City, Suyac, Molocaboc Daku, Matabas and Barangays Vito and Old Sagay in Sagay City.

The subjects of Earth Faces will be a mix of advocates, celebrities, media personalities and survivors and families shot on location.

A video conceptualized and edited by Emmy Award winner Filipino producer-director Michael Carandang will accompany the campaign.

‘Disaster imagination capabilities’

Science Secretary Mario Montejo called on local government officials and workers to learn from the 7.2 magnitude earthquake that hit Bohol and Typhoon Yolanda that devastated Leyte and Samar last year by improving their “disaster imagination capabilities.”

Montejo, also vice chairman of the National Disaster Risk Reduction and Management Council, told participants in a workshop and forum in Clark Freeport, Pampanga to use their imagination to anticipate and respond to disasters.

“Let’s take a scenario for public storm warning signals. We hope that warnings issued by our agencies will instantly trigger the disaster imagination of people in a way that a Public Storm Signal No. 3 or No. 4 will prompt early action among the community to adopt action plans such as preemptive evacuation or staying in areas identified as disaster-safe zones,” Montejo said.

The two-day workshop, with the theme “Iba na ang Panahon, Science for Safer Communities,” discussed the hydro-meteorological and geological hazards in Central Luzon as well as an overview of the Department of Science and Techonology’s National Operational Assessment of Hazards (NOAH) and Disaster Risk Exposure Assessment for Mitigation (DREAM) projects, as well as the Office of Civil Defense’s Disaster Information for Nationwide Awareness (DINA) drive.

Montejo stressed that each municipality, city, province and region has distinct landscapes and vulnerabilities.

He said better teamwork of officials of the national government, LGUs and communities should be developed for a better disaster risk reduction strategy.

“We envision to cover the end-to-end process for science-based and scenario-driven community disaster preparedness from early warning and early action to achieve minimum loss and establish quick recovery post disaster,” he added.– With Ding Cervantes

PH among 19 ‘mega’ biotech crop producers

by Edd K. Usman from the Manila Bullettin

Some of the corns grown in Cagayan Valley province in Northern Philippines.
Cagayan Valley is accounted as the Top Corn producing region in the country.
(Bureau of Agricultural Statistics photo)

 The Philippines has landed in the ranks of the 19 “mega-countries” which are growing 50,000 hectares or more of biotechnology (biotech) crops.

In the country’s case, only biotech (Bt) corn, the yellow variety, is being planted by farmers, but they have earlier expressed willingness to adopt Bt cotton, Bt eggplant, and Gold Rice, which are in the pipeline, once the genetically modified (GM) crops are ready for commercialization. There are now 800,000 hectares being planted, as of 2013, by biotech-adopting farmers in the country, a report released by the International Service for the Acquisition of Agri-Biotech Applications (ISAAA), pointed out.

ISAAA’s report is called the “Global Status of Commercialized Biotech/GM Crops: 2013″ made public on Feb. 13, 2014. Of the 27 countries growing the still highly-controversial GM crops, the Philippines ranked No. 12. A total of 19 of the 27 countries are dubbed “mega-countries” in relation with the adoption by land area of commercial biotech crops, which have at least 50,000 hectares or more of farm lands planted with GM maize, cotton, canola, sugar beet, alfalfa, papaya, squash, or soybean.

ISAAA’s report cited the future prospects of biotech crops. “In the scientific community associated with biotechnology, there is cautious optimism that biotech crops, including both staple and orphan crops, will be increasingly adopted by society, particularly by the developing countries, where the task of feeding its own people is formidable, given that the global population, most of whom will be in the South, will exceed 10 billion by the turn of the century in 2100,” it said. It added that yesterday’s technology cannot feed tomorrow’s world. The United States, which has adopted maize, cotton, canola, sugar beet, alfalfa, papaya, and squash, ranks No. 1 with 70.1 million hectares; Brazil, second, 40.3 million hectares; Argentina, third, 24.4 million hectares; India, fourth, 11 million hectares; Canada, fifth, 10.8 million hectares. China, at sixth, with 4.2 million hectares, has 7.5 million small farmers who produced US$15.3 billion biotech crops – cotton, maize, soybean, and sugar beet.

Dep-Ed to hire new 30,000 teachers next year

by Chino Leyco (Story: Excerpts from Manila Bulletin; Title: ours)

A Filipino Teacher demonstrating before her class. (Photo taken from interaksyon.com)

The national government will hire more than 30,000 elementary and secondary teachers for the coming school year, the Department of Budget and Management said yesterday.

In a statement, Budget and Management Secretary Florencio B. Abad said the government has released P9.52 billion last January to the Department of Education (DepEd) for the creation of 31,335 elementary and secondary teaching positions for School Year 2014-2015.

Abad said the fund release will cover the fund requirements for Teacher I positions nationwide.

“The release gives DepEd the go signal for jump-starting the hiring process immediately, with all positions ideally filled out by April 1, 2014, in time for the beginning of classes,” DBM said.

Of the 31,335 positions, 13,738 new teachers will be hired at the elementary level (Grades 1 to 6), while 17,597 personnel are designated at the secondary level (Grades 7 and 8, YR III and IV).

Region IV-A will hire the most number of teachers with 4,809 positions, followed by Region III with 3,754 and Region VII with 3,425 future hires.

“Hiring more teachers is essential to the administration’s goal of improving the teacher-to-student ratio in our education system. For a long time, Philippine public schools were crippled by a shortage of teachers who can amply guide our schoolchildren in their academic pursuits,” Abad said.

“The P9.52-billion release will give DepEd enough funding legroom to close the 33,194-teacher gap in public schools by 2015. It’s not just a matter of enhancing our public education system, but also of giving our students the chance to learn from qualified instructors who can equip them with skills that will be useful beyond the classroom,” he added.

DepEd has set standards to determine teacher requirements for different levels of education, such as setting the Teacher-Pupil Ratio of one teacher for an ideal number of students per class:

According to DepEd standards, in Kindergarten, one teacher should have 25 to 35 students, while Elementary Multigrade should have one teacher for less than 30 students and Elementary Monograde should have one teacher for 40-50 students for Grades I-II; 1 teacher for 45-55 students for Grades III-IV; 1 teacher for 45-55 students for Grades V-VIII; and 1 teacher for 45-55 students for Secondary Level Years III-IV

“Education continues to be the government’s best bet in empowering the poor and opening up opportunities for their future employment,” Abad said.

“Along with the implementation of the extended Pantawid Pamilyang Pilipino Program (4Ps) this year, the administration’s work of addressing our public education gaps remains key in our bid for swift, sustainable, and inclusive growth, where Filipinos can truly benefit from the country’s economic gains,” he added.

PEZA investments up 250% in Jan.

by Bernie Magkilat (Excerpt from Manila Bulletin)
February 6, 2014

The PEZA Investment Performance in the 1st 3 quarters of 2013. (photo taken from MB).

The Philippine Economic Zone Authority (PEZA) was off to a food start this year having registered P20.585 billion or 250.34 percent higher than January 2013 approved investments of P5.875 billion.

Lilia B. De Lima, PEZA Director-General told reporters at the sidelines the joint membership meeting of the Makati Business Club and the Management Association of the Philippines, that those approved projects in the first month of the year were actually those that failed to catch up with their registrations last year.

Their failure to complete registration processes last year could be partly blamed for PEZA’s slight decline in its overall investment registration in 2013.

Total investments approved by PEZA in 2013 reached P276.126 billion or 11.48 percent lower from P311.949 billion in 2012.

The January investment inflows was led by the P6 billion cyber park development project of the Quisumbing-owned Norkis Group of Companies.

Meantime, De Lima said that Aboitiz Land Inc., which recently acquired the Alcantara-owned Lima Industrial Park in Batangas, is expanding its site with 200 hectares to address more requests for factory sites by foreign investors.

According to De Lima, the new owners of the industrial park of the Lima Land Inc. after acquiring it for P1.36 billion, said the company would be acquiring neighboring properties in Lima.

The industrial estate covers 150 hectares but it has only 20 hectares left for new locators.

Already, investments registered in PEZA for the month of January this year jumped 150 percent over January 2013.

De Lima further said that a group of 20 manufacturing companies from the Shizouka prefecture in Japan are visiting the country on February 11 to explore investment opportunities in the country.

IFC unveils $600-M financing facility for women entrepreneurs

by The Wall Street Journal
March 6, 2014

The International Finance Corporation Building at 2121 Pennsylvania Avenue in Washington DC. Photo - Mr. T in DC

As world leaders seek to revive a fragile global recovery, the World’s Bank’s International Finance Corp. (IFC) sees a vast untapped resource: Women.

The IFC Wednesday unveiled a $600-million financing program for female entrepreneurs in emerging markets it says should help tap that growth potential.

“We cannot afford to exclude half of the world’s population from the rightful role in helping to change the face of the global economy,” said World Bank President Jim Yong Kim.

Simply allowing women to get paid to work would help.

For example, Booz & Co. says raising female labor force participation rates to the same levels as males could boost Egyptian growth by a whopping 34%. Other economists say closing the labor market gender gaps could boost per capita gross domestic product in the Middle East and North Africa by 27% and 23% in South Asia.

Allowing more women to run their own companies would drive growth, too.

In many emerging markets, women often can’t get the financing needed to start or expand businesses. Legal or social barriers prevent them from owning the assets needed to post collateral for loans, or raise the risk premium they have to pay to borrow from banks.

The IFC says that disparity is constraining up to $320 billion in potential lending to women-owned firms in emerging markets.

Microfinance – tiny loans to the poor – has partly filled the credit gap for women entrepreneurs. But the IFC says there’s a need to move beyond microfinance as many women-owned businesses need more varied services and products, and larger loans.

Some developing economies are already facing pressure to confront those long-established barriers as slowing growth forces authorities to make their economies more competitive.

The IFC hopes to fuel a transition to economic equality by offering credit lines to banks in emerging markets exclusively for lending to women who want to start or expand their own companies.

The IFC said it will initially invest $100 million in the program. It hopes a $32-million pledge by Goldman Sachs will help encourage the additional contributions needed to meet the $600-million goal.