The Philippine Economy - Compiled Threads [Archive] - Page 109

RonnieR

September 30th, 2011, 11:30 AM

Japan's Murata to build chip plant in PHL
AMITA O. LEGASPI, GMA News Online
09/28/2011 | 06:58 PM

A Japanese electronics components firm, Murata Manufacturing Co. Ltd., is set to establish a 23-hectare chip capacitor plant in the country, a Malacañang official said.

Presidential Communications Operations head Sonny Coloma Jr. relayed the information to reporters Tuesday following the business meeting President Benigno Aquino III had with Murata officials at the Imperial Hotel in Tokyo, Japan.

The information was released to Malacañang reporters Wednesday.

He added Murata plans to bring to the Philippines a new generation of technology in chip manufacturing through the factory it will set up in the First Philippine Industrial Park in Laguna.

Coloma showed members of the Philippine media delegation covering the President’s official visit to Japan a sample of the so-called “monolithic ceramic microchip capacitor."

He said the product would be available to the Philippine electronics industry by October 2012 as Murata targets to complete its 23-hectare factory by then.

“You will see how microscopic the chips are — very small… This is the new generation of technology in chips manufacturing and Murata is establishing the plant in the Philippines," Coloma told reporters during a press briefing at Tokyo Kaikan.

Coloma described Murata company as “one of the world’s largest makers of electronic components used in many devices such as computers, mobile phones, automotive navigation, airbag systems and medical equipment."

Originally based in Nagaokakyo, Kyoto, Murata was started by its honorary chairman, Akira Murata, as a personal venture in October 1994. At present, it is considered as the leading company in manufacturing ceramic passive electronic components, primarily capacitors, and it has an overwhelming worldwide market share of ceramic filters, high frequency parts, and sensors.

Murata Manufacturing reportedly has 23 subsidiaries in Japan and 31 overseas, including those in the United States, Mexico, Brazil, Germany, France, Italy, United Kingdom, Ireland, Switzerland, the Netherlands, Spain, Sweden, Hungary, Finland, Singapore, Malaysia, Philippines, Taiwan, Thailand, Hong Kong, Korea, and China.

Business prospects

More business leaders met with Aquino Wednesday, hours before his departure for Manila, Malacañang said.

Members of the Asian Business Council led by Nobuyuki Idei, long-time CEO of Sony Corp., spoke with the President to discuss business prospects for the Philippines as they conveyed great interest to invest in the country.

Yoshihiko Miyauchi, chairman and CEO of Orix Corp., observed that the level of Japanese investments in the Philippines seemed to have slowed and his company would like this situation to be improved significantly, Coloma said.

“He [Miyauchi] noted that the timing of the President’s visit is quite good as many Japanese companies are willing to invest in the country. He mentioned ship-building as an industry with good potential," Coloma added.

Idei reported that Sony recently established a call center in the Philippines. President Aquino earlier cited the business process outsourcing industry as one of the major contributors to government revenues — about P14 billion, with 640,000 jobs generated.

Council members are interest in knowing which are the strategically important businesses in the Philippines today. The President told them that tourism is on top of the list as it can be considered a “low-lying fruit."

Quoting Finance Secretary Cesar Purisima, Coloma said the ASEAN integration will be realized by 2013 and this will be a good investment opportunity for Japanese companies.

Apart from his Cabinet secretaries, President Aquino was accompanied by members of his business delegation led by SM Investments Corp.’s vice chairman Tessie Sy-Coson and Magsaysay Maritime Co.’s chief executive officer Doris Magsaysay-Ho.

After his engagement with the Asian Business Council, the President met with members of the Japan Shipowners’ Association (JSA) led by its president Akimitsu Ashida. Coloma said President Aquino thanked JSA for its “continuing efforts to combat piracy, especially in Somalia, to ensure the safety of Filipino seafarers".

JSA companies employ around 35,000 Filipino seafarers and they continue to make substantial investments in equipment to upgrade training and development, according to Eduardo Manese, president of the Philippine-Japan Manning Consultative Council and chairman of Magsaysay Maritime Corp. — VS, GMA News

http://www.gmanews.tv/story/233693/business/japans-murata-to-build-chip-plant-in-phl

leofriends

September 30th, 2011, 01:51 PM

^^ grabe.... exiting na to... :D

CebuMagigger

September 30th, 2011, 04:39 PM

Your suggestion is good with regard to dissecting the news. I doubt if it can be done here since some Filipinos have closed their minds that P. Noy is a failure. That's the difficulty, if there are good news, they will shoot it down or just remain silent however, if there bad news articles just like what boypad did, they will suddenly appear and as if they're happy on the failures! That is disturbing.

this is so true :ohno:
they seem so happy with negative news rather than good news...

i dnt get you guys... :/

CebuMagigger

September 30th, 2011, 04:46 PM

Here. This refers to a toll road.

http://www1.ijonline.com/infrastructurefinancenews/preview?articleid=72756

Philippines' president promises PPP award by year-end
By René Lavanchy, 30th September

The Philippines will award the first transport PPP project in its current programme in December, President Benigno Aquino said this week.
The statement comes amid an apparent loss of momentum in the programme, with no major announcements on procurement of the projects in recent months, besides the launch of a tender for a vaccine project.

Japan's Murata to build chip plant in PHL
AMITA O. LEGASPI, GMA News Online
09/28/2011 | 06:58 PM

A Japanese electronics components firm, Murata Manufacturing Co. Ltd., is set to establish a 23-hectare chip capacitor plant in the country, a Malacañang official said.

Presidential Communications Operations head Sonny Coloma Jr. relayed the information to reporters Tuesday following the business meeting President Benigno Aquino III had with Murata officials at the Imperial Hotel in Tokyo, Japan.

The information was released to Malacañang reporters Wednesday.

He added Murata plans to bring to the Philippines a new generation of technology in chip manufacturing through the factory it will set up in the First Philippine Industrial Park in Laguna.

Coloma showed members of the Philippine media delegation covering the President’s official visit to Japan a sample of the so-called “monolithic ceramic microchip capacitor."

He said the product would be available to the Philippine electronics industry by October 2012 as Murata targets to complete its 23-hectare factory by then.

“You will see how microscopic the chips are — very small… This is the new generation of technology in chips manufacturing and Murata is establishing the plant in the Philippines," Coloma told reporters during a press briefing at Tokyo Kaikan.

Coloma described Murata company as “one of the world’s largest makers of electronic components used in many devices such as computers, mobile phones, automotive navigation, airbag systems and medical equipment."

Originally based in Nagaokakyo, Kyoto, Murata was started by its honorary chairman, Akira Murata, as a personal venture in October 1994. At present, it is considered as the leading company in manufacturing ceramic passive electronic components, primarily capacitors, and it has an overwhelming worldwide market share of ceramic filters, high frequency parts, and sensors.

Murata Manufacturing reportedly has 23 subsidiaries in Japan and 31 overseas, including those in the United States, Mexico, Brazil, Germany, France, Italy, United Kingdom, Ireland, Switzerland, the Netherlands, Spain, Sweden, Hungary, Finland, Singapore, Malaysia, Philippines, Taiwan, Thailand, Hong Kong, Korea, and China.

Business prospects

More business leaders met with Aquino Wednesday, hours before his departure for Manila, Malacañang said.

Members of the Asian Business Council led by Nobuyuki Idei, long-time CEO of Sony Corp., spoke with the President to discuss business prospects for the Philippines as they conveyed great interest to invest in the country.

Yoshihiko Miyauchi, chairman and CEO of Orix Corp., observed that the level of Japanese investments in the Philippines seemed to have slowed and his company would like this situation to be improved significantly, Coloma said.

“He [Miyauchi] noted that the timing of the President’s visit is quite good as many Japanese companies are willing to invest in the country. He mentioned ship-building as an industry with good potential," Coloma added.

Idei reported that Sony recently established a call center in the Philippines. President Aquino earlier cited the business process outsourcing industry as one of the major contributors to government revenues — about P14 billion, with 640,000 jobs generated.

Council members are interest in knowing which are the strategically important businesses in the Philippines today. The President told them that tourism is on top of the list as it can be considered a “low-lying fruit."

Quoting Finance Secretary Cesar Purisima, Coloma said the ASEAN integration will be realized by 2013 and this will be a good investment opportunity for Japanese companies.

Apart from his Cabinet secretaries, President Aquino was accompanied by members of his business delegation led by SM Investments Corp.’s vice chairman Tessie Sy-Coson and Magsaysay Maritime Co.’s chief executive officer Doris Magsaysay-Ho.

After his engagement with the Asian Business Council, the President met with members of the Japan Shipowners’ Association (JSA) led by its president Akimitsu Ashida. Coloma said President Aquino thanked JSA for its “continuing efforts to combat piracy, especially in Somalia, to ensure the safety of Filipino seafarers".

JSA companies employ around 35,000 Filipino seafarers and they continue to make substantial investments in equipment to upgrade training and development, according to Eduardo Manese, president of the Philippine-Japan Manning Consultative Council and chairman of Magsaysay Maritime Corp. — VS, GMA News

http://www.gmanews.tv/story/233693/business/japans-murata-to-build-chip-plant-in-phl

:cheers::cheers::cheers: thats more like it!

mwg12a

September 30th, 2011, 05:27 PM

This thread is fast becoming a

GOOD NEWS VS BAD NEWS THREAD

It's shouldn't be that way.

There should be a genuine discussion regarding the Economic policies of Aquino and the different platforms that affect our economic growth.

Economic discussion is more than POSTING ARTICLES, good or bad, its about dissecting the information in these articles and determining through research and brainstorming if they are trully bad news, good news, new news, or old news.

I am a true Aquino skeptic and posting articles in general won't alleviate my concerns that he is an inefficient President. In regards to economics, it is safe to say that his inferiority is only second to Estrada.

I see no direction from his economic team. He hasn't even addressed the dismal growth of the last quarter and what he intends to do to reverse the downward trend. In fact he has signaled that he intends to continue policies that has contributed to it.

Your suggestion is good with regard to dissecting the news. I doubt if it can be done here since some Filipinos have closed their minds that P. Noy is a failure. That's the difficulty, if there are good news, they will shoot it down or just remain silent however, if there bad news articles just like what boypad did, they will suddenly appear and as if they're happy on the failures! That is disturbing.

I cannot agree more. I noticed these also, they wanted Aquino to fail even if it means failure for the whole country. They don't care, they just don't like Aquino so if they see a positive news, they call it "propaganda" a paid news article, but when it's a bad news they rejoiced . I, myself, picked up bad news articles and make sense to it just to create a constructive criticism.

Its hard to figure out whether the news we are getting are written in stone or just plain pandering.

That's why its so hard to gauge the effect of pledges of expansion from certain companies. But they are good news nonetheless, and even better when companies follow through on their pledges.

Seeing is believing, that's why im a big advocate for infrastructure development. It's an instant job maker and improves quality of life quicker. Its what we need! I don't feel this urgency from this admin, that's what troubles me.

I think that's the slogan you hear from Obama which you are heeding then used it as a gauge for economic recovery which is not necessarily the best way to do it, it is just one way to build the economy but certainly the real answer for it. Haven't we learned these from Arroyo administration? What if there are more new roads and newer infrastructures being built just like in Arroyo's term? Did it create more jobs back then despite the claims of higher GDP and investments? Isn't it the answer there was "NO" even to this day and age.. Why? It still boils down to the wrong policies passed on from different administration down to Noynoy Aquino. You'd be surprised, once these policies are changed with just the few infrastructures already in placed or built in the past, more investment would come pouring in , once that happen you would expect even more infrastructure being built. We see these here in the US, more infrastructure being built in the midst of the economic crisis thinking these would create jobs, where is the US now? 9% rate of unemployment and there is a very dim outlook on job creation despite Obama's new project that is being project to only effect 1% which is not very promising. That notion about having more infrastructure first before new job creation is as good as the same principle as "which one comes first? The egg or the Chicken" sorry, this is how I see it over the years...

InfinitiFX45

September 30th, 2011, 05:29 PM

InfinitiFX45

September 30th, 2011, 05:49 PM

Govt to build all transport projects :banana::cheers::banana::cheers::banana::cheers:

by Jeremiah F. de Guzman

http://www.manilastandardtoday.com/insideBusiness.htm?f=/2011/september/30/business1.isx&d=2011/september/30

The Transport Department said Thursday it will build all its infrastructure projects and will not entertain proposals from the private sector to reduce cost.

Transportation Secretary Manuel Roxas told reporters Thursday the agency would tap official development assistance loans to finance the projects and eventually privatize them.

“We studied and reconfigured the financing element and the sequencing element so that we can have these at the lowest possible cost to the public,” Roxas said.

He said the government would build large and basic hard infrastructure by availing low-interest ODA loans. He added the government will privatize the operation and maintenance aspects once the infrastructure is completed.

“What we are trying to do in reconfiguring is to put the market risks to the private sector. The execution risks, meaning the building of the infrastructure with the low-cost money, will be on the government side,” Roxas said. He called the mode a “hybrid-PPP scheme.”

“This way, the government knows exactly what it will pay and what it is going to get for the resource, while the private sector then bears the market risks for undertaking the O&M,” he added.

Roxas enumerated priority projects that include Light Rail Transit Line 1 extension to Bacoor in Cavite, LRT 2 extension to Masinag in Antipolo, airport development projects in Puerto Princesa and Laguindingan and the additional low-cost terminal in Mactan International Airport.

He said the Korean, Japanese and Chinese governments have expressed interest to assist to provide funding for LRT 1 South Extension project. The Romero group in 2009 earlier submitted an unsolicited proposal to build the project.

The extension of the LRT Line 1 South Extension will feature a 16-kilometer stretch from Baclaran station to Imus, Cavite.

Roxas said the Korean and the Japanese governments were also willing to fund the LRT 2 extension project. This project, including the line’s extension to Divisoria in Manila, was earlier estimated to cost P15.72 billion.

Roxas said the hybrid-PPP scheme would cut the cost of projects because of cheap foreign funds that would eventually result in lower cost of transportation.

The government will just pay a 1-percent interest rate spread over 30 years on ODA loans, compared with commercial bank rates of 7 percent to 8 percent annually for the same period.

InfinitiFX45

September 30th, 2011, 05:56 PM

More PPP projects for 2012:banana::cheers::banana::cheers::banana::cheers:

http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/september/30/business3.isx&d=2011/september/30

As a flagship program of the Aquino administration, the “Public-Private Partnership” projects remain on top of the agenda for the year 2012, a senior official said.

“The PPP will be one of the priority projects of President Aquino for next year because the Chief Executive sees it as an economic driver in national governance,” said Budget Undersecretary Mario Relampagos.

The DBS group, a Singaporean holding company, expects the construction of public-private partnership infrastructure projects next year.

According to the DBS group, “the growth momentum for domestic output would also depend on the recovery of overseas demand for Philippine exports.”

The group also disclosed that more foreign direct investments are expected until the end of 2011 because “the second-quarter inflow of P40.6 billion was three times the figure reported in the same period of last year.”

These indications reflect the government’s intensified efforts in attracting foreign funds and investment commitments.

Officials of the Finance Department pronounced that bidding for contracts on a new tollway system and other five major projects are due this year.

“The government is bent on fulfilling its part on strategic infrastructure projects. We are committed in following the policy of President Aquino that is ‘Kung walang corrupt, walang mahirap,’’ added Relampagos.

For the improvement of roads, agriculture, and other important projects, the DBM is set to release P14 billion next year. “For hospital and school building facilities, another P8 billion was allocated,” he added.

The administration has revealed the 10 projects intended for the PPP program, eight of which are under the Transportation and Communications Department while the other two are with the Public Works Department.

The projects to be handled by the Transportation Department, under the PPP program, includes the privatization of the operation and maintenance of the Light Rail Transit Line 1 and of the Metro Rail Transit Line 3, LRT 1 South Extension and privatization through concession, LRT Line 2 East Extension Project, the New Bohol Airport Development, Puerto Princesa Airport Development, New Legaspi Airport Development, and the Privatization of Laguindingan Airport Operation and Maintenance.

The government has earmarked around $1.3 billion, while the private sector has to contribute at least $1 billion for the realization of the eight projects.

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

mwg12a

September 30th, 2011, 06:05 PM

Govt to build all transport projects :banana::cheers:

by Jeremiah F. de Guzman

http://www.manilastandardtoday.com/insideBusiness.htm?f=/2011/september/30/business1.isx&d=2011/september/30

The Transport Department said Thursday it will build all its infrastructure projects and will not entertain proposals from the private sector to reduce cost.

Transportation Secretary Manuel Roxas told reporters Thursday the agency would tap official development assistance loans to finance the projects and eventually privatize them.

“We studied and reconfigured the financing element and the sequencing element so that we can have these at the lowest possible cost to the public,” Roxas said.

Roxas said the Korean and the Japanese governments were also willing to fund the LRT 2 extension project. This project, including the line’s extension to Divisoria in Manila, was earlier estimated to cost P15.72 billion.

Roxas said the hybrid-PPP scheme would cut the cost of projects because of cheap foreign funds that would eventually result in lower cost of transportation.

The government will just pay a 1-percent interest rate spread over 30 years on ODA loans, compared with commercial bank rates of 7 percent to 8 percent annually for the same period.

I like this idea.

More PPP projects for 2012:banana::cheers:

http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/september/30/business3.isx&d=2011/september/30

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

I kind of wonder where this Ninoy Aquino International Airport Expressway is...

InfinitiFX45

September 30th, 2011, 06:08 PM

Palace offers outsourcing training to universities :banana::cheers::banana::cheers::banana::cheers:

by Maricel Cruz

http://www.manilastandardtoday.com/insideNews.htm?f=/2011/september/30/news5.isx&d=2011/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

Abad, criticized for cutting funding to state universities, said he had already submitted a feasibility study on the program to President Benigno Aquino III, and that it would take three months to carry out.

He said “a little over a billion pesos” would be required to train about 62,000 potential applicants with a guarantee that about 37,000 will be hired.

“We have in fact submitted to the President an additional budget of P500 million [for this purpose],” Abad told reporters.

He did not itemize the spending or fund sources, saying only that the amount would be used by lead agencies such as the Technical Education and Skills Development Authority, the Commission on Higher Education, and the Education Department, which will carry out the program in partnership with the business process outsourcing industry.

“This is on top of what is going to be provided in the General Appropriations Act,” Abad said.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

InfinitiFX45

September 30th, 2011, 06:12 PM

'Phl in better position to withstand new crisis':banana::cheers:

by Iris C. Gonzales (The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=732607

MANILA, Philippines - The Philippines is in a better position to withstand another global crisis which may be triggered by uncertainties in the Eurozone and in the United States, the country’s economic managers told investors in a mid-year economic briefing yesterday.

“Nobody is going to be immune but we’re in a better position now,” Finance Secretary Cesar Purisima said yesterday.

The Finance chief noted that from a fiscal standpoint, the government posted a significantly better-than-expected fiscal position as of end-August.

Latest data showed that the National Government recorded a surplus of P9.220 billion in August on the back of higher revenues and despite a slight increase in spending.

This brought the January to August fiscal position to a deficit of P34.493 billion, narrower than the P228.104-billion budget gap incurred in the same period last year.

The P9.220-billion surplus is 599 percent higher than the P1.319 billion surplus recorded in the same period last year.

Revenues during the month rose to P124.148 billion or 15.16 percent higher than the P107.806 billion a year ago.

Expenditures during the month rose by 15.16 percent to P114.928 billion from P106.487 billion disbursed in the same period last year.

Last week ago, fears of another global financial shock spread like wild fire.

Investors’ panic was largely fueled by announcements from the Federal Reserve of the possibility of serious risks from the US.

Aside from having a strong fiscal position, the country has also diversified its trade and this has also helped cushion the economy, Purisima said. “Our trade mix has increased more toward Asia,” he said.

The Finance chief also said that the uncertainties in the US and in Europe should encourage investors to seek opportunities in emerging markets such as the US. “We have a lot of fiscal space if in case we need to stimulate the economy,” Purisima also said.

The government has set a budget deficit ceiling of roughly P300 billion this year or 3.2 percent of gross domestic product (GDP).

mwg12a

September 30th, 2011, 06:13 PM

InfinitiFX45

September 30th, 2011, 06:24 PM

Yuan, rupiah, peso most resilient:banana::cheers::banana::cheers::banana::cheers:

by LILIAN KARUNUNGAN (Bloomberg) September 30, 2011, 1:42am

http://www.mb.com.ph/articles/336127/yuan-rupiah-peso-most-resilient

MANILA, Philippines — The Chinese yuan, Indonesian rupiah and Philippine peso are likely to prove the most resilient of Asia’s emerging-market currencies as large domestic economies help China, Indonesia, and the Philippines withstand a global slowdown, Western Asset Management Co. said.

“They are more domestic-demand driven,” the fund manager, part of Baltimore-based Legg Mason Inc., said in a press release that didn’t identify the authors. Policy makers in China and Indonesia favor appreciation to help contain inflation, while the Philippine peso will be supported by remittances from overseas workers, the statement said.

The Philippine peso strengthened 0.7 percent to 43.54 per dollar today in Manila, according to Tullett Prebon Plc.

Remittances sent home by Philippine citizens living abroad amounted to $1.7 billion in July, boosting this year’s tally to $11.35 billion, the central bank said on Sept. 15. The funds account for about 10 percent of the Philippines’ $200 billion economy and help fuel consumer spending.

The yuan has strengthened 1.1 percent against the dollar this quarter, making it the sole gainer among Asia’s 10 most-used currencies excluding the yen. The rupiah fell 4.2 percent and the peso slid 0.5 percent, according to data compiled by Bloomberg. South Korea’s won is the region’s worst performer, having tumbled 9.2 percent.

Indonesia is the world’s most-populous Muslim nation and has Southeast Asia’s biggest economy. President Susilo Bambang Yudhoyono said last month that economic growth may reach 6.5 percent this year, the fastest since the 1998 Asian financial crisis, even with recent shocks to the global economy. Domestic demand accounts for about 56 percent of gross domestic product.

The rupiah gained 0.4 percent to 8,870 per dollar today in Jakarta, following a 1.7 percent advance yesterday, according to prices from local banks compiled by Bloomberg. It fell 3.1 percent on Sept. 26 and retreated in each of the last three weeks. Bank Indonesia said as recently as last week it’s been selling dollars this month to support the rupiah.

The nation’s inflation rate rose to 4.79 percent in August from 4.61 percent the previous month, official figures show. Data next week are expected to show consumer-price gains accelerated to 4.9 percent this month, based on the median estimate in a Bloomberg survey of economists.

CebuMagigger

September 30th, 2011, 06:24 PM

Philippines’ manufacturing output rises:banana::cheers:

By: Ronnel W. Domingo Philippine Daily Inquirer 9:54 pm | Thursday, September 29th, 2011

http://business.inquirer.net/22081/philippines%e2%80%99-manufacturing-output-rises

Eight industries posted hefty gains

The growth in the value and volume of manufacturing output accelerated in July, reaching 6.7 percent and 6.8 percent year on year, respectively, according to the National Statistics Office.

NSO data show that in July, growth in value improved from 3.5 percent in June while volume grew at a faster pace from 1.2 percent.

Results from the agency’s latest monthly integrated survey of selected industries (MISSI)—which covers 20 major industries—showed that the index grew faster as eight industries recorded two-digit increases in output value.

Leading the gainers were furniture and fixtures with 46.6 percent and publishing and printing with 42 percent.

Also growing in two-digit rates were petroleum products (31.2 percent), paper and paper products (28.8 percent), rubber and plastic products (17.7 percent), beverage (14.3 percent), chemical products (13.1 percent) and basic metal products (11.1 percent).

Other gainers in July were food manufacturing, footwear and wearing apparel, transport equipment, miscellaneous manufactured items, and leather products.

On the other hand, seven sectors showed reduced output value led by non-electrical machinery (-34.7 percent), and wood and wood products (-28.1 percent).

Other losers were electrical machinery, non-metallic mineral products, textiles, tobacco, and fabricated metal products.

In terms of volume, significant increases were observed in seven industries led by furniture and fixtures (134.7 percent), and publishing and printing (42 percent).

Also showing double-digit volume growth rates were paper and paper products (32.9 percent), beverages (18.8 percent), miscellaneous manufactures (14.3 percent), chemicals (12.9 percent), and rubber and plastic products (12.8 percent).

Other volume gainers were electrical machinery, footwear and wearing apparel, petroleum products, transport equipment, leather and basic metals.

There were seven losers in terms of volume led by non-electrical machinery (-32.9 percent), wood and wood products (-28.1 percent) and textiles (-10.8 percent).

Other losers were food manufacturing, tobacco, non-metallic minerals, and fabricated metals.

More PPP projects for 2012:banana::cheers::banana::cheers::banana::cheers:

http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/september/30/business3.isx&d=2011/september/30

As a flagship program of the Aquino administration, the “Public-Private Partnership” projects remain on top of the agenda for the year 2012, a senior official said.

“The PPP will be one of the priority projects of President Aquino for next year because the Chief Executive sees it as an economic driver in national governance,” said Budget Undersecretary Mario Relampagos.

The DBS group, a Singaporean holding company, expects the construction of public-private partnership infrastructure projects next year.

According to the DBS group, “the growth momentum for domestic output would also depend on the recovery of overseas demand for Philippine exports.”

The group also disclosed that more foreign direct investments are expected until the end of 2011 because “the second-quarter inflow of P40.6 billion was three times the figure reported in the same period of last year.”

These indications reflect the government’s intensified efforts in attracting foreign funds and investment commitments.

Officials of the Finance Department pronounced that bidding for contracts on a new tollway system and other five major projects are due this year.

“The government is bent on fulfilling its part on strategic infrastructure projects. We are committed in following the policy of President Aquino that is ‘Kung walang corrupt, walang mahirap,’’ added Relampagos.

For the improvement of roads, agriculture, and other important projects, the DBM is set to release P14 billion next year. “For hospital and school building facilities, another P8 billion was allocated,” he added.

The administration has revealed the 10 projects intended for the PPP program, eight of which are under the Transportation and Communications Department while the other two are with the Public Works Department.

The projects to be handled by the Transportation Department, under the PPP program, includes the privatization of the operation and maintenance of the Light Rail Transit Line 1 and of the Metro Rail Transit Line 3, LRT 1 South Extension and privatization through concession, LRT Line 2 East Extension Project, the New Bohol Airport Development, Puerto Princesa Airport Development, New Legaspi Airport Development, and the Privatization of Laguindingan Airport Operation and Maintenance.

The government has earmarked around $1.3 billion, while the private sector has to contribute at least $1 billion for the realization of the eight projects.

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

Palace offers outsourcing training to universities :banana::cheers::banana::cheers::banana::cheers:

by Maricel Cruz

http://www.manilastandardtoday.com/insideNews.htm?f=/2011/september/30/news5.isx&d=2011/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

Abad, criticized for cutting funding to state universities, said he had already submitted a feasibility study on the program to President Benigno Aquino III, and that it would take three months to carry out.

He said “a little over a billion pesos” would be required to train about 62,000 potential applicants with a guarantee that about 37,000 will be hired.

“We have in fact submitted to the President an additional budget of P500 million [for this purpose],” Abad told reporters.

He did not itemize the spending or fund sources, saying only that the amount would be used by lead agencies such as the Technical Education and Skills Development Authority, the Commission on Higher Education, and the Education Department, which will carry out the program in partnership with the business process outsourcing industry.

“This is on top of what is going to be provided in the General Appropriations Act,” Abad said.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

'Phl in better position to withstand new crisis':banana::cheers:

by Iris C. Gonzales (The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=732607

MANILA, Philippines - The Philippines is in a better position to withstand another global crisis which may be triggered by uncertainties in the Eurozone and in the United States, the country’s economic managers told investors in a mid-year economic briefing yesterday.

“Nobody is going to be immune but we’re in a better position now,” Finance Secretary Cesar Purisima said yesterday.

The Finance chief noted that from a fiscal standpoint, the government posted a significantly better-than-expected fiscal position as of end-August.

Latest data showed that the National Government recorded a surplus of P9.220 billion in August on the back of higher revenues and despite a slight increase in spending.

This brought the January to August fiscal position to a deficit of P34.493 billion, narrower than the P228.104-billion budget gap incurred in the same period last year.

The P9.220-billion surplus is 599 percent higher than the P1.319 billion surplus recorded in the same period last year.

Revenues during the month rose to P124.148 billion or 15.16 percent higher than the P107.806 billion a year ago.

Expenditures during the month rose by 15.16 percent to P114.928 billion from P106.487 billion disbursed in the same period last year.

Last week ago, fears of another global financial shock spread like wild fire.

Investors’ panic was largely fueled by announcements from the Federal Reserve of the possibility of serious risks from the US.

Aside from having a strong fiscal position, the country has also diversified its trade and this has also helped cushion the economy, Purisima said. “Our trade mix has increased more toward Asia,” he said.

The Finance chief also said that the uncertainties in the US and in Europe should encourage investors to seek opportunities in emerging markets such as the US. “We have a lot of fiscal space if in case we need to stimulate the economy,” Purisima also said.

The government has set a budget deficit ceiling of roughly P300 billion this year or 3.2 percent of gross domestic product (GDP).

2012 may be Philippines' big break... HOPEFULLY! :banana:

keep em good news comin! :cheers:

InfinitiFX45

September 30th, 2011, 06:27 PM

Globe brings US Entrepreneur Program :banana::cheers:

by EMMIE V. ABADILLA September 30, 2011, 1:42am

http://www.mb.com.ph/articles/336126/globe-brings-us-entrepreneur-program

MANILA, Philippines — Next month, Globe Telecom, in partnership with local web engineering firm Proudcloud, will launch Startup Weekend Manila, patterned after one of the most successful start-up accelerator programs from the United States.

Startup Weekend is a 54-hour event where developers, designers, marketers, technopreneurs, and venture capitalists come together to share ideas, form teams, build products, and launch startup businesses.

Startup Weekends are specifically designed for entrepreneurs interested in receiving feedback for an idea, looking for a co-founder, or who want to learn a new skill, especially in the field of mobile and internet applications.

The concept quickly became a global movement to generate breakthrough ideas in communities all over the world, taking digital start-ups businesses from ideas to investment readiness through intensive mentoring from industry experts and access to mobile markets and investors across Asia.

Aside from the Philippines, Startup Weekends will also be held in Australia, India, Indonesia, Singapore, and Thailand.

Over 100 participants are expected to join Startup Weekend Manila which will be held on October 21-23, 2011 at the Mint College, Fort Bonifacio, Taguig City.

Participants will have the opportunity to be acquainted with one another, pitch startup concepts and form teams around the most popular ideas. They then refine the ideas and start building product prototypes with the help of their respective mentors, and then present what they have accomplished in the form of a short pitch and demo.

From the Startup Weekend group in Manila, fifteen (15) teams will be shortlisted to qualify for the 100-day bootcamp to be held in Singapore in January 2012.

Teams of developers and entrepreneurs will receive S$15,000 each to help finance and start their businesses. The teams will also get the privilege to pitch to international investors.

“This global innovation exercise seeks to showcase the best ideas, talents, and resources for future businesses,” according to Minette Navarrete, Head of Globe New Business Group.

Sleepwalker

September 30th, 2011, 06:35 PM

InfinitiFX45

September 30th, 2011, 06:38 PM

PHL economy fit to face impact of another global crisis:banana::cheers:

by JMT/VS, GMA News – Finance chief 09/30/2011 | 05:18 PM

http://www.gmanews.tv/story/233892/business/phl-economy-fit-to-face-impact-of-another-global-crisis-finance-chief

Should the ongoing uncertainties in the US and Europe trigger another financial crisis, the Philippines is in a much better position to withstand its potential impact, economic managers told investors during the mid-year economic briefing Friday.

Finance Secretary Cesar Purisima said that the country's fiscal standpoint is significantly better than expected as of end-August.

“Nobody is going to be immune but we’re in a better position now," Purisima said.

Latest data from the national government indicate that it posted a P9.22-billion surplus in August, due largely to a slight increase in government spending and higher revenue collections.

In the first eight months of the year, the country's deficit was pegged at P34.493, from P228.104 billion budget gap a year earlier.

August revenues rose slightly to P124.148 billion, up 15.16 percent P107.806 billion posted in August last year.

Expenditures rose by 15.16 percent to P114.928 billion.

Fears of another financial meltdown spread anew as the Federal Reserve announced the possibility of serious risks from Western markets.

Purisima, however, noted that the country's diversified trade dealings will help cushion the economy from such a development.

“Our trade-mix has increased more toward Asia," he said.

The Finance chief noted that the country now has a "lot of fiscal space" should the need to stimulate the economy arise. He added that the uncertainties from Western markets should prompt investors to seek opportunities in emerging markets such as the Philippines.

InfinitiFX45

September 30th, 2011, 06:45 PM

Manufacturing growth picks up:banana::cheers:

by C. A. C. Valeroso Posted on September 30, 2011 12:04:37 AM

http://www.bworldonline.com/content.php?section=TopStory&title=Manufacturing-growth-picks-up&id=39191

FACTORY OUTPUT growth accelerated to 6.8% in July, data from the National Statistics Office (NSO) showed, but experts said this was not enough to hasten economic activity.

July’s gain, as measured by changes in the volume of production index, was better than the revised 1.2% in June but way lower than the 21.7% recorded in July 2010.

An industry official attributed the growth to demand from local consumers, while another described July’s gain as insignificant.

“Manufacturing [in July] was mostly for domestic consumption,” said Sergio R. Ortiz-Luis, Jr., Philippine Exporters Confederation, Inc. president, pointing to sluggish merchandise export growth in July.

Growth in merchandise exports slowed down to 1.7% in July, significantly lower than the 49.4% jump 12 months earlier.

Federation of Philippine Industries Chairman Jesus L. Arranza, meanwhile, said: “There were no substantial changes in our output”.

On the average, factories used up 83.3% of capacity in July, nearly the same as June, the NSO reported.

University of the Philippines economist Benjamin E. Diokno agreed, saying July’s factory output was weak.

“Looking at the industry-to-industry level, [factory output] growth seems to be a mixed bag,” Mr Diokno said, pointing to a continued decline in production volumes of food and construction materials.

Year-on-year, food manufacturing went down by 4.7%. With May the exception, food manufacturing has been going down since March.

Construction materials also lost ground, with iron and steel down by 25.4%, fabricated metal products by 3.5%, glass and glass products by 5.1%, and cement by 5.1%. Basic metals rose by only 0.1%.

Manolito P. Madrasto, executive director of the Philippine Constructors Association, Inc., said the industry was dependent on public spending, which has been encountering bottlenecks.

“There was low government spending, thus, nearly no demand for construction services,” he said. “This explains why there was not much manufacturing of construction materials.”

Of the 20 major sectors, furniture and fixtures led gainers, with an annual 134.7% growth.

Electrical machinery production rose by 5.7%, reversing the 0.8% contraction recorded in June. Another index mover, petroleum products, posted a 1.7% increase, albeit slower than the 16.1% recorded the previous month.

Other sectors that posted double-digit gains were publishing and printing (42.0%), paper and paper products (32.9%), beverages (18.8%), miscellaneous manufactures (14.3%), chemical products (12.9%), and rubber and plastic products (12.8%).

InfinitiFX45

September 30th, 2011, 06:57 PM

Gov leads groundbreaking for CamSur coco water plant :banana::cheers:

(The Philippine Star) Updated October 01, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=732612

PILI, Camarines Sur, Philippines – The efforts of Camarines Sur Gov. Luis Raymund Villafuerte to develop a food terminal complex that would not only service the province’s agro-industrial sector but also bring in investors received a major boost with the groundbreaking for a coconut water packing plant by an international food conglomerate.

The first facility to rise in the food terminal complex that is currently being developed is the coconut water packing plant to be operated by Vita Coco, in partnership with local firm AgriNurture Inc. (ANI).

An initial investment of $5 million has been earmarked for the construction of the plant, which is expected to cash in on the fast-growing demand for coconut water in the local and international consumer markets. Another $10 million has been allocated for the large-scale planting of coconut trees in the Bicol region in the next few years.

“This will be a big boost to the province’s agro-industrial sector in general and the coconut industry in particular. Aside from providing jobs to our people, this will also open doors for local agro-industrial and food production and processing firms to put up their facilities in this food terminal complex, either on their own or in partnership with foreign firms,” Villafuerte pointed out.

According to Jonathan Burth, Vita Coco director for operations, the necessary resources have been lined up, the engineering plans completed and clearing of the plant site has started. With the purchase of equipment having been completed and construction set to commence, he projected that the plant will be fully operational by May 2012, initially producing 8ml bottles of coconut water.

Coconut water is enjoying an increasing popularity as a health drink in major foreign markets such as the continental United States, and demand is expected to rise. Even world-renowned celebrities are cashing in on the coconut water craze, with pop icon Madonna already a part-owner of Vita Coco, and popular recording artist Rihanna lined up, among others, as an endorser for Vita Coco.

Founder and CEO Michael Kirban said that Vita Coco is made from 100 percent natural coconut water and contains five essential electrolytes, including potassium, sodium, magnesium, calcium and phosphorous, and contains 15 more times electrolytes than other sports drinks.

The establishment of the coconut water plant was one of the new investments in the Philippines by American firms announced by President Aquino during his recent visit to the US. The venture is a result of the joint effort of the national government and the province of Camarines Sur.

“We are very grateful to President Aquino for actively supporting this venture. The involvement of the national government really encouraged Vita Coco and its local partner to set up this plant in our province,” Villafuerte said.

mwg12a

September 30th, 2011, 08:12 PM

Is this a low-cost carrier or low-cost terminal? Hanep, Cebu lang ata ang tinipid... :D

This is what i do not like in Philippine news writing/media, it's always confusing.

Nabartek

September 30th, 2011, 09:49 PM

^^ Now, i'm iffy on this one, but I guess that's better than not doing anything to create more jobs. I hope they would open it to HS grads who can't afford to go to college or atleast those poor filipinos in HS level only.

While the US is outsourcing jobs and leaving many professionals underpaid or jobless, the Philippine outsources its brightest professionals :lol:

I don't know which is worse, to take away jobs from citizens, or to send citizens away

It's political manipulation. And sadly, Filipinos are falling for it. Politicians are sending those who have potential for critical thinking while let those who just say yes or no stay. :/

--
How can the government convince investors if they keep sending our professionals away? Might as well invest in Kuwait and still get a Filipino professional. Wala nang natira sa Pilipinas.

Nabartek

September 30th, 2011, 10:08 PM

This is what i do not like in Philippine news writing/media, it's always confusing.

mas confusing ito

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc7/310945_10150340725737668_370475627667_7945216_1984765637_n.jpg

manila_eye

September 30th, 2011, 10:52 PM

mas confusing ito

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc7/310945_10150340725737668_370475627667_7945216_1984765637_n.jpg

hahaha. yari ang nag-type nyan. :lol:

Nabartek

September 30th, 2011, 11:14 PM

Napaiwanan nung Marikina River yung tubig niya :lol:

mwg12a

October 1st, 2011, 04:49 AM

^^ :rofl: Sa sobrang lakas ng agos ng tubig siguro naiwanan ... :lol:

leofriends

October 1st, 2011, 04:57 AM

^^ panigurado.. tanggal na yan.. :D

kalbongdad

October 1st, 2011, 05:23 AM

Foreign debt rises 7.3% to $61.4 B
By Lawrence Agcaoili (The Philippine Star) Updated October 01, 2011 12:00 AM Comments (0) View comments

nde ko sya ma gets.......bakit tumaas pa ang debt ng pilipinas....of course part of this debt is private sector pero portions of that also is public debt.....bakit tumaas....eh hindi naman gumagasta nga ang admin ni pnoy....wala ka rin naman makitang accomplishment sa infrastructure...o kahit saan aspeto mo tingnan....bakit why bakit? dahil sa pinamumudmod ba sa CCT ng linsyak kaya lalo pa tayo nabaon sa utang....:ohno: paki isplika nga mga atsing dyan sa tabi-tabi....:lol:

amigo32

October 1st, 2011, 05:35 AM

hindi kaya nangutang ang duwende?:D

dancethingy

October 1st, 2011, 06:09 AM

I think that's the slogan you hear from Obama which you are heeding then used it as a gauge for economic recovery which is not necessarily the best way to do it, it is just one way to build the economy but certainly the real answer for it. Haven't we learned these from Arroyo administration? What if there are more new roads and newer infrastructures being built just like in Arroyo's term? Did it create more jobs back then despite the claims of higher GDP and investments? Isn't it the answer there was "NO" even to this day and age.. Why? It still boils down to the wrong policies passed on from different administration down to Noynoy Aquino. You'd be surprised, once these policies are changed with just the few infrastructures already in placed or built in the past, more investment would come pouring in , once that happen you would expect even more infrastructure being built. We see these here in the US, more infrastructure being built in the midst of the economic crisis thinking these would create jobs, where is the US now? 9% rate of unemployment and there is a very dim outlook on job creation despite Obama's new project that is being project to only effect 1% which is not very promising. That notion about having more infrastructure first before new job creation is as good as the same principle as "which one comes first? The egg or the Chicken" sorry, this is how I see it over the years...

Arroyo's economic policy was sound and forecasts for GDP whether high or low were always within expected range.

Arroyo's policies on infrastructure development was sound as well. There was a point in which infrastructure developments were being taken on by the government instead of bidding them out because nothing was getting done. Was wasn't sound was how these policies were carried out. Prone to graft, each project was ruined by corruption.

I emphatically disagree with your assessment of the US economy. Obama had passed an insufficient stimulus at the beginning of his term, the economy sputtered midway through. Plenty of states rejected federal funding of high speed railway, new highways, and rail rehabilitation when the stimulus was passed, including OHIO, FLORIDA, and NEW JERSEY. 2 years later these same states had filed requests to fund the same infrastructure development proposed with federal stimulus. That is what obstructionist politics is doing to the US.

Obama's proposed job creation bill has received mixed reviews, but overall very good. even if it were to slash unemployment by 1%, that is still a big deal. Can you honestly say that whatever was proposed on this job creation bill is not necessary?? rehabilitation schools throughout the country, keeping 10,000 teachers on the payroll, these are good proposals.

I also don't understand why you think current infrastructure and a "few more" is enough for the Philippines. Do you honestly believe that the infrastructure we have now is sufficient?

That notion about having more infrastructure first before new job creation is as good as the same principle as "which one comes first? The egg or the Chicken" sorry, this is how I see it over the years...

I don't get the logic and i would appreciate it if someone can clarify this for me. Infrastructure must definitely come first. First of all infrastructure creates jobs because workers are hired to build it. That is a fact. 2nd, you need infrastructure to carry goods from industrial zones to ports/airports for distribution. I don't think Japanies Companies will invest in Clark if the infrastructure wasn't in place. Without the major airport and highway to Subic, who will invest in Clark????? The infrastructure must be there first. I don't mean to sound combative, im just trying to flesh out the logic.

You'd be surprised, once these policies are changed with just the few infrastructures already in placed or built in the past, more investment would come pouring in , once that happen you would expect even more infrastructure being built...

Isn't this what the PPP is for. Better policies for more PPP. But where are the PPPs now?

dancethingy

October 1st, 2011, 06:15 AM

Two opposing ideas. Im buying into the government funding on transport projects. PPP remain to be proven.

If infrastructure development were'nt so important, why are they being addressed here? I think its because they need to be.

Govt to build all transport projects[/COLOR.

[B][COLOR="Blue"]More PPP projects for 2012:banana::cheers::banana::cheers::banana::cheers:

The administration has revealed the 10 projects intended for the PPP program, eight of which are under the Transportation and Communications Department while the other two are with the Public Works Department.

The projects to be handled by the Transportation Department, under the PPP program, includes the privatization of the operation and maintenance of the Light Rail Transit Line 1 and of the Metro Rail Transit Line 3, LRT 1 South Extension and privatization through concession, LRT Line 2 East Extension Project, the New Bohol Airport Development, Puerto Princesa Airport Development, New Legaspi Airport Development, and the Privatization of Laguindingan Airport Operation and Maintenance.

The government has earmarked around $1.3 billion, while the private sector has to contribute at least $1 billion for the realization of the eight projects.

For the Public Works Department, the 27.5-kilometer Cavite side section of the Cavite-Laguna Expressway will be allocated with a $262-million budget while the second phase of the Ninoy Aquino International Airport Expressway will have a $253.33 million worth of investments.

The PPP program refers to the collaboration of private investors with government agencies and institutions in building infrastructure—roads, hospitals, and airports—with private entities participate in completion of the project for a given period.

Parchie

October 1st, 2011, 06:30 AM

Two opposing ideas. Im buying into the government funding on transport projects. PPP remain to be proven.

If infrastructure development were'nt so important, why are they being addressed here? I think its because they need to be.

Too many mouths being listened to. Each of his minions believe they are given blanket authority to spit out what they have in mind. Confusion is the norm.

I've heard Abad telling reporters this admin prefers other financing modes not ODA. Abad reasoned that with ODA, the admin cannot have a say on the choice of contractors. I wonder what tweaked his mind knowing borrowing rates are higher compared to ODA rates. Then we heard projects under ODA is accepted. Ever wonder why outside investors are just standing by and trying to gauge which is true and where we're going?

Perseus II

October 1st, 2011, 07:35 AM

mas confusing ito

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc7/310945_10150340725737668_370475627667_7945216_1984765637_n.jpg

hahaha. yari ang nag-type nyan. :lol:

parang hindi naman napagtutuunan ng pansin ng mga network ang mga ganyang kamalian kasi ang dami pa ring mali sa newsbar nila... parang wala lang , parang ok lang. :ohno:

Manila-X

October 1st, 2011, 07:43 AM

Business Matters
Wanted: A new Filipino! (Strong sense of urgency)
By: David L. Balangue
Philippine Daily Inquirer
9:59 pm | Friday, September 30th, 2011

http://opinion.inquirer.net/13135/wanted-a-new-filipino-strong-sense-of-urgency

In the corporate world, a company that is moribund, a laggard, and unable to deal with competition and manages to just coast along is bound to eventually collapse. In such a situation, the company could survive by undertaking a complete or significant makeover, re-engineering itself by whatever means possible to cope with competition.

Oftentimes, this will be a painful process, with layoffs, sacrifices, and anxiety on the part of everyone concerned. These are unavoidable, but for the company to succeed, it has to take the bitter pills that would rid itself of its ills. Any change, a major change at that, is uncomfortable to say the least, but just as a cancer patient needs to undergo painful treatment, including chemotherapy, it needs to be done. The painful process is needed to put the patient on a healthy track.

We as a nation and as Filipinos have many good traits but also a lot of bad ones. We could opt to coast along and still move up but such upward movement may only be primarily due to the rising tide. For us to make substantive improvements, we need to go through the painful process of transforming ourselves, getting rid of bad traits and adopting new ones that are founded on the basic positive virtues of hard work, honesty, integrity, fairness, accountability, passion for excellence and sense of urgency. We need to go back to the basics and adopt these virtues that would hopefully identify us as a nation. To promote these virtues, the government and the people should embrace these virtues and reward those who exemplify them so that they will serve as role models for others to follow. These would be defining moments in our history as a Filipino nation.

If there is one trait that we as Filipinos badly need, it is a strong sense of urgency. We need to adopt a sense of urgency, a bias for action, as a defining Filipino trait, for it would address many of the ills that pervade in the country. This lack of urgency results in the courts being clogged with hundreds of thousands of pending cases that take 10, 20 or even more years to resolve. And these cases keep piling up. Consequently, in many instances, the perpetrators remain free and continue with their ill ways. And we Filipinos seem to have accepted this as a fact of life and it has become part of the culture that now defines our nation.

This lack of, or at best inadequate, sense of urgency has made us accept long delays in completion of projects, getting stuck for hours in traffic, waiting long for services, and dealing with problems that take years and years to solve. This acceptance of delays has made us scale down our standards of expectations and accountability.

This has to change. We Filipinos should demand high levels of performance and excellence and not accept mediocrity.

What is sense of urgency?

Sense of urgency should be defined as being results-oriented but not measured simply in terms of the period of time it takes to get results, but also observing due process and having excellent results or outputs. It is not taking shortcuts that result in sloppy work or products. Applied to our judicial system, it is characterized by speedy resolution of cases while totally observing due process. Due process has almost always been used as a pretext or excuse for delays. This is wrong. Due process could be achieved even without delays. We simply need to look at the process to identify causes of the delays, correct them, and then put in the necessary passionate effort to get our desired results.

Inculcating as a culture the right sense of urgency as defined above will require other virtues that should define our character as Filipinos and serve as the foundations for our sense of urgency and being results-oriented. These virtues include striving to be the best we can be as individuals by improving and developing the skills needed to carry out our tasks: hard work, industriousness, integrity, honesty, fairness, transparency and accountability by not taking shortcuts and accepting responsibility for the outcome of our work, and a passion for excellence in putting our very best effort toward a quality output.

With this sense of urgency defining our culture, character and behavior, we should not accept sloppy work and long delays in the resolution of problems. We should be demanding of our government, our co-workers, our family members and relatives and friends of timely and quality results in every facet of our activities. We should not accept, among other things, long delays in the resolution of the Maguindanao massacre and the prosecution of corrupt officials, or the long lines and waiting time to get rides in very crowded LRT/MRT trains, and the long delays in the evaluation, approval and completion of vital infrastructure projects.

The P-Noy administration should play a key role in this transformation. P-Noy should provide us a vision of the Filipino that this country needs. He should provide us the path, leadership and inspiration that will make the vision a reality. P-Noy’s moral ascendancy makes him the ideal leader to lead us in the journey. But to achieve this, he needs to act with a strong sense of urgency. In this regard, he will have to transform himself and serve as our role model in this initiative.

David L. Balangue is a former chairman and country managing partner of SGV & Co., chairman of the Coalition Against Corruption and founder of the Tita Cory Movement.

3cr

October 1st, 2011, 08:15 AM

Economic officials assure government to be on track
Business World
http://www.bworldonline.com/content.php?section=TopStory&title=Economic-officials-assure-government-to-be-on-track&id=39228

STATE ECONOMIC OFFICIALS assured investors in a briefing on Friday that the government remains committed to boosting spending and undertaking infrastructure buildup to prod gross domestic product (GDP) growth to a higher level.

Speaking during the Philippine Economic Briefing at the Philippine International Convention Center in Pasay City, officials said government will accelerate spending in the remaining months of the year after concerns were raised about the disappointing economic growth in the first semester.

The public-private partnership (PPP) thrust also remains intact despite delays and a change in framework of the government’s cornerstone infrastructure development program, economic managers said.

"We have been working to accelerate spending in the last few months. We just submitted a P90-billion package of… spending programs to the President, and approval is expected any time within the next week," Budget Secretary Florencio B. Abad said in a panel discussion following a video presentation on first-half economic gains that kicked off the briefing.

Projects in the package include rural electrification, social housing and rural infrastructure such as local roads that will connect to national roads, he explained.

"These projects have an economic multiplier effect, address the needs of the poor and are quick-disbursing," Mr. Abad said.

The P90 billion was sourced from continuing appropriations from last year, dividends of state firms and budgets from slow-moving projects, he added.

The Budget chief spoke in response to pleas of business sector representatives during the panel discussion for increased state spending and implementation of long-delayed PPP projects.

"Fiscal consolidation is the theme in the Aquino administration’s first year in office," Bankers Association of the Philippines President Aurelio R. Montinola III said in his reaction to the first semester economic performance.

"But, in the coming years, we need government-assisted growth, especially through the PPP program."

The government kept its fiscal deficit at bay in the eight months to August, with a budget shortfall totaling P34.493 billion, a little more than a tenth of the full-year programmed ceiling of P300 billion that is equivalent to 3.2% of GDP.

However, this was largely due to a drop in government spending which dragged economic growth to a modest 4% in the first semester, putting the 7%-8% full-year "fighting target" out of reach.

SIGNAL AWAITED

Mr. Montinola urged the government to focus on spending, particularly on infrastructure, to lift GDP growth in the second half.

This, he said, is signal private sector investors have been waiting for.

"The government secured a lot of investor interest after their [sic] trips to China, Japan and the United States," Mr. Montinola said.

"Now, we need concrete projects to match this interest."

The government’s PPP program, which was widely hoped to drive growth this year and next, must be pursued, Mr. Montinola stressed.

"We’ve talked about PPP for over a year," he said.

So far, however, only the P1.956-billion Daang Hari-South Luzon Expressway link deal has been rolled out by the government, out of an original list of 10 big-ticket infrastructure deals, he noted.

The PPP deals as well as other public infrastructure projects were delayed this year as government agencies reviewed costs and procurement systems.

In the same panel discussion, Makati Business Club Chairman Ramon R. Del Rosario, Jr. lauded the Aquino administration’s campaign of good governance, but warned that "it is imperative we must get going."

"The drop in infrastructure spending brought down GDP and employment in the first semester. Government spending must now be pursued aggressively for sustainable growth and job generation," Mr. Del Rosario said.

"The private sector is doing its part. The government should do no less."

‘NO RETHINKING GOING ON’

Economic managers also sought to assuage concerns after the Department of Transportation and Communications (DoTC) announced on Thursday that it would reconfigure the seven PPP deals under its supervision.

The government could just tap long-term, low-interest official development assistance (ODA) to build hard infrastructure, Transportation Secretary Manuel A. Roxas II had said.

Under this revised scheme, the private sector could manage revenue-generation, operations and maintenance of facilities concerned, he had explained.

"We said before that each PPP project would have a different financing mix," Finance Secretary Cesar V. Purisima said during a press conference after the briefing.

"DoTC projects have a wide gap between economic desirability and financial viability, so ODA loans could be crucial for them."

Asked why the government did not choose this financing mode earlier, Mr. Purisima replied: "We just changed the framework. We didn’t change the approach. There is no rethinking going on."

For its part, the Department of Public Works and Highways, responsible for three PPP projects, said it would not change terms of its infrastructure deals.

"We have a program already. We will not change it," Public Works Secretary Rogelio L. Singson told reporters in the same news conference.

FUNDAMENTALS SOUND

Despite these issues, Messrs. Montinola and Del Rosario cited good macroeconomic fundamentals of the country, such as well-managed inflation, healthy balance of payments and robust foreign reserves.

The country also jumped in global competitiveness rankings this year, as well as secured consecutive "positive credit rating actions" from debt watchers, they said.

Such sound fundamentals should help cushion the blow of a possible global economic crisis, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. said during the panel discussion.

Equity and currency markets fluctuated last week amid fresh fears that the United States and Europe would fall into recession.

"There is a degree of impatience in financial markets right now, but we expect it will be temporary," Mr. Tetangco said.

A slowdown among developed countries could affect the Philippines’ exports, Socioeconomic Planning Secretary Cayetano W. Paderanga, Jr. noted in the same discussions.

But the government has already been diversifying its export markets and products, he said.

While electronics exports, comprising more than half of merchandise shipments, had fallen as of July, other exports such as furniture and agriculture have been on the rise, Trade Secretary Gregory L. Domingo said during discussions.

More than merchandise exports, the Philippines can also rely on its services industry and remittances from overseas Filipino workers, he added.

The government has undertaken the necessary preparations to shield the Philippines from external shocks, Mr. Purisima insisted.

"We are monitoring this day by day. The government is on the ball," he added.

"At the worst case, there is enough fiscal space should there be a need to stimulate the economy."

INVESTMENT GRADE WITHIN REACH?

With these strong fundamentals, economic managers championed the Philippines’ drive to bag investment-grade credit rating.

"Investment grade is well within our reach in the medium term," Mr. Tetangco said.

The Philippines currently has a BB+ rating from Fitch Ratings, its highest rating at just one level shy of the investment grade. It also has a BB rating from Standard & Poor’s and Ba2 from Moody’s Investors Service, both two notches below investment grade.

The government will first prioritize bringing Moody’s and S&P ratings on the same level as Fitch, Mr. Purisima said in an interview at the sidelines of the briefing.

"I told Moody’s and S&P that I believe they are underrating us. Based on our metrics, we should at least be a notch below investment grade. Once we get that, then we’ll start talking to them about investment grade," he said.

The government will first work on raising revenues by expanding its tax base and modernizing revenue agencies to make collections more efficient, Mr. Purisima said.

Structural revenue reforms will also be undertaken, as recommended by credit raters, through streamlining of fiscal incentives and amending the "sin" tax regime on alcohol and tobacco, he added.

Revenues amounted to 13.5% of GDP in the first semester, against a full-year target of 15.1%.

"We will also work on improving our political institutions, the ease of doing business in the country and infrastructure investments," Mr. Purisima said.

The Philippines’ quest for investment grade rating was supported by Citigroup Managing Director Stephen Taran, as he outlined its benefits.

"First, it opens up an entirely different universe of investors for the government and the private sector," Mr. Taran said during the panel discussion.

Investment-grade countries, deemed credit-worthy, avail of lower borrowing costs, he said.

Companies stand to benefit as well, since interest rates they get abroad are pegged on sovereign benchmark.

Moreover, investment-grade countries are pushed to change the way their governments and businesses are run to ensure rule of law, good governance, strong political and civil institutions and sound economic management, Mr. Taran explained.

At the same time, "doing politics will be harder," he said, since governments will be in a "straightjacket" of political and fiscal discipline to maintain investment grade.

"Investment grade rating is important and achievable, but it will be difficult (to keep)," Mr. Taran said.

mwg12a

October 1st, 2011, 08:25 AM

Arroyo's economic policy was sound and forecasts for GDP whether high or low were always within expected range.

Arroyo's policies on infrastructure development was sound as well. There was a point in which infrastructure developments were being taken on by the government instead of bidding them out because nothing was getting done. Was wasn't sound was how these policies were carried out. Prone to graft, each project was ruined by corruption.
I would not disagree on your assessment on Arroyo's infrastructure along with the corruption issue. The policy I was refering to was the anti foreign investor and foreing ownership along with to policy to stop graft and corruption that leads to monopoly of giant Philippine business owners.

I emphatically disagree with your assessment of the US economy. Obama had passed an insufficient stimulus at the beginning of his term, the economy sputtered midway through. Plenty of states rejected federal funding of high speed railway, new highways, and rail rehabilitation when the stimulus was passed, including OHIO, FLORIDA, and NEW JERSEY. 2 years later these same states had filed requests to fund the same infrastructure development proposed with federal stimulus. That is what obstructionist politics is doing to the US.

Obama's proposed job creation bill has received mixed reviews, but overall very good. even if it were to slash unemployment by 1%, that is still a big deal. Can you honestly say that whatever was proposed on this job creation bill is not necessary?? rehabilitation schools throughout the country, keeping 10,000 teachers on the payroll, these are good proposals.
As far as the US economy which somehow is considered an OT in this thread, the stimulus package he approved is not at all insufficient, he actually over spent, this is part of the reason why the US defaulted on it's foreign debts yet the US economy has not completely rebounded, infact, it almost slipped recently especially right after the credit rating downgrade. It definitely has not recovered yet, as far as his new plan for job creation it has been projected that it will only show 1% decline which not enough to cause a rebound most especially when the EU economy has been real shaky lately. The biggest problem now in the US just like the Philippines is that the US depends mostly on import and the export has been declining because the giant US corporation are moving most of it's operation overseas, without these, there is very little indicator for job creation. This is one of the biggest reason that Obama's approval rating is slipping, even on the african American community.

I also don't understand why you think current infrastructure and a "few more" is enough for the Philippines. Do you honestly believe that the infrastructure we have now is sufficient?

I don't get the logic and i would appreciate it if someone can clarify this for me. Infrastructure must definitely come first. First of all infrastructure creates jobs because workers are hired to build it. That is a fact. 2nd, you need infrastructure to carry goods from industrial zones to ports/airports for distribution. I don't think Japanies Companies will invest in Clark if the infrastructure wasn't in place. Without the major airport and highway to Subic, who will invest in Clark????? The infrastructure must be there first. I don't mean to sound combative, im just trying to flesh out the logic.

Isn't this what the PPP is for. Better policies for more PPP. But where are the PPPs now?

Infrastucture in any country with a growing population is never enough that's for sure. What infrasture project do you think would invite foreign investors when we all knew that the country has the most unfriendly investment atmosphere there is not to mention the negative image of the country in terms of corruption and safety.

How can the infrastructure should come first when it comes to the Philippine economy where the image is tainted, the foreign investment and ownership isn't favorable and has for decades been unfriendly to potential foreign investors? Construction workers and engineers are definitely hired in infrastructure building as well as most of the imported materials but how about other professions or other workers for factories? But does infrastructure generates return? IMO only the investors are making profit for it along with the corrupt government officials, besides construction workers in the Philippines are underpaid, they are being paid mostly under the table unlike in most countries where construction workers makes atleast a decent living.

There has been decent roads in the Philippines, it's not the best of it's kind but as far as transporting goods and products there are enough of these already. It's not like all the highways and roads in the Philippines are made out of dirt and gravel. How much more would you need. Isn't what really creates job and generates a solid revenue are the manufacturing corporations for export?I don't think the Philippines has nearly reached that status yet, to be one of the leading exporters in asia if not the world, because why? Pretty much every thing is imported. The country do not produce its own exports and if there are those considered as exports, aside from manpower, it's mostly assembly lines for foreign corporations who were all avoiding to get taxed in their respective countries like the US who are mostly using the Philippines a source of cheap labor. Now, had these been Philippine products made from indegenous Philippine materials or advanced technology for export, you would see more foreign investors keeping an eye of the Philippines because they knew they would profit from it. Haven't you noticed? What you buy in the Philippines alot of times are products originally assembled in the Philippines or other 3rd world countries being sold to filipinos at a 1st world price when the average income of filipinos is about $2.00 a day comparing to let's say US, Canada or even Japan where the average income is quadrupled.

What I am driving at is that the other more important issues should be addressed first than the infrastructure since there are decent infrastructures in the Philippines, which one are these? Since the filipinos lacks innovativeness and enterprenuralshipness, the country needs to invite foreign investors. How can you get the foreign investors have faith in the Philippine government when the policy on it for decades has not been very satisfactory. No matter good we build roads and airports, as long as the policies are flawed and the imaged remained poor, you cannot force foreign investors to not look away and shun the country instead?

I am with you about "where the PPP" is... but then again, how can you really see these come into fruitation when Aquino is just in his 15 months or so in office? Planning ahead and making sure that projects would fall into the hands of the corrupt, those definitely would not happen overnight, I understand your frustration on the halted projects of the previous administration but I would not blame the current administration for these, it's been marred with alot of anomalies and corruptions, it somehow worth looking into to indicate this administration's seriousness in irradicating corruption in the country. We do see positive news about here in teh economy thread as well as good news thread, right?

3cr

October 1st, 2011, 08:25 AM

ASEAN: Strength in numbers
Business Mirror
http://www.businessmirror.com.ph/home/perspective/16964-strength-in-numbers

THE Philippines could become the ninth-largest economy in the world—but only if it integrates with the rest of the 10 countries—Brunei, Burma, Cambodia, East Timor, Indonesia, Laos, Malaysia, Singapore, Thailand and Vietnam—that make up the Association of Southeast Asian Nations or Asean.

United, the Asean economy is valued at at least $1.8 trillion—a little smaller than Brazil but larger than Russia, according Dato Timothy Ong, founder and chairman of Asia Inc. Forum and the convener of the Asean 100 forum.

Ong believes it is high time for the Asean to be integrated as an economic unit to become a more potent and stronger force in the global economic arena.

“In a globalizing world and with the rise of India and China, can Asean afford to be fragmented,” he said at a recent interview in Makati City. “If Asean is one, it’s going to be a more significant market and, at the same time, will be a force to reckon with.”

Indeed, economic integration is one of the hottest buzzwords of the global economy today.

The Asean has become a prominent figure in promoting bilateral and regional trading arrangements since 1997, starting with the Asean Plus Three process linking the 10-member bloc with China, South Korea and Japan.

Haruhiko Kuroda, president of Asian Development Bank, pointed out the importance of Asean in the global trading arena.

“Asean has become a manufacturing network for a wide range of products—from pharmaceuticals, automobiles and electronics to information-technology goods—and also produces high-end intermediate goods for final assembly elsewhere. Asean members have been major participants in the rapid expansion of free-trade agreements [FTAs] across Asia and the Pacific,” Kuroda said in one of his speeches.

Given its experience as a collegial body addressing common issues and concerns, the Asean can become an important vehicle for working toward a consolidation of FTAs into regionwide agreements. As synergies develop, it stands to gain as a community—as a center for expanding regionalism.

Asean 100

To push the momentum in promoting economic integration, the Asia Forum Inc. is organizing its Asean 100 Leadership Forum on September 28 and 29 in Makati City. Ong, a Brunei businessman, said the Asean 100 is a highly interactive meeting of minds of the most promising Southeast Asian next-generation leaders from business, government and civil society.

The forum will begin with a dinner address and dialogue with President Aquino, followed on the next day by thought-provoking discussions around a central theme of “One Asean,” led by key figures from the region and other parts of the world, including Federico Lopez, chief executive of First Philippine Holdings Corp., and Jaime Augusto Zobel de Ayala, chairman and chief executive of Ayala Corp.

Ong said some homegrown businesses will find the forum a useful platform for relationship building and regional outreach. This is manifested by the attendance of CEOs of highly respected corporations to at least two of the prior forums. The list includes AirAsia, the region’s largest low-cost airline; the Para Group, a top Indonesian diversified group; Top Glove Corp., a Malaysian rubber-glove manufacturer that produces 22 percent of the world’s rubber gloves; First Philippine Holdings Corp., a leading energy player in the country; Ayala Corp., one of the Philippines’ largest and oldest business houses; Ascendas, a regional provider of office-space solutions headquartered in Singapore; the Wangkanai Group, a Thai sugar conglomerate; and the Adinin Group, a leading oil-and-gas engineering company in Brunei, to name only a few.

As far as the Philippines is concerned, Ong said the Philippines has a very good potential to become a player in the economic integration of Asean.

“The Philippines has a sufficient corporate sector which can be classified as world-class like SM, Ayala, Jollibee and ICTSI [International Container Terminal Services Inc.]. I am happy to tell you that Jollibee is No. 1 in Brunei,” he said.

Furthermore, Ong said the Philippines has excellent human capital as proven by the deployment of millions of Filipino professionals around the world.

“However, the sad thing is that many Filipinos are forced to work abroad because of lack of opportunities in the Philippine economy,” he said.

Europe’s experience

According to Dr. Myrna Austria, vice chancellor for academics and full-time professor in economics at De La University-Manila, FTAs or regional trade agreements spur economic growth through increased specialization, greater trade, and the inclusion in a global value chain.

In her paper “Asean’s Extra Regional Linkages: Implications for an East Asian Economic Community,” Austria pointed out that it would be an advantage for the Asean to enter into formal arrangements because this also strengthens regional peace and security—which she said was the driving force behind the European integration.

Being at the center of two world wars, the Europeans know of their devastating effects such that after World War II the Europeans pushed with greater effort the formation of the Pan-Europa movement.

Austria believes that the China-Asean FTA should open the way of settling the current dispute over the Spratlys.

“In this regard, the insistence by Asean on accession by prospective partners to its Treaty of Amity and Cooperation is an important cornerstone in improving peace and security in the region,” Austria said.

“A formal arrangement should help countries either lock in domestic reforms or accelerate implementation of proposed reforms. International agreements can act as commitment mechanisms, providing policy-makers with the needed leverage to overcome domestic resistance to reforms. An FTA can also provide a government with credibility, thereby boosting domestic and foreign investment in the country,” added Austria.

An East Asian FTA will also make member-countries more conscious of the development gap in the region and might be the key to help neighboring countries stabilize and prosper for “altruistic purposes and get away from the effects of spillovers of unrest and population.” Austria said reducing the development gap will enhance the Asean, making it a more effective link between countries of Northeast Asia.

More important, Austria said an FTA will give the bloc a stronger political bargaining power because they’re sending the message they have banded together to pursue common interests.

And it is important for the Asean to ally with China, she stressed.

“Having China on its side will definitely enhance the political stature of Asean and vice-versa. One area that can be revived through advocacy by a China-Asean front is the reform of the international financial architecture. Efforts toward such measures were sidelined by indifference of the US Treasury,” she said.

The Philippine challenge

The Chinese experience, however, also proves that one can achieve economic growth without FTAs.

“The simple fact is that countries in East Asia which experienced high rates of economic growth did so without the benefit of an FTA. China was not even a signatory of GATT or an original member of the WTO. In other words, an FTA is not crucial to economic growth,” said Austria.

As such, Dr. Josef Yap, president of the Philippine Institute for Development Studies, said the Philippines must first address its own development so it can be a formidable partner in any economic merger.

In his paper “Economic Integration and Regional Cooperation in East Asia: A Pragmatic View,” Yap said the Philippines has to shape up its economy.

“It should be emphasized that the impediments to faster economic growth are largely internal. For example, the study of the East Asian miracle points to four main factors: outward orientation, a modernized agriculture sector, bureaucratic efficiency and a relatively equitable distribution of income. Moreover, outward orientation by these countries was not achieved through joining an FTA,” Yap said.

“The Philippines is a clear example where unimpressive economic growth is largely due to internal factors. The disparity is largest when all 10 Asean member-countries are compared as a group. It can be observed that the disparity of the Asean+3 is lower than the Asean 10 and the coefficient of variation declines further when the lower income countries are not included,” he said.

Yap pointed out that developing economies, such as the Philippines, need to beef up their own capabilities—in terms of infrastructure technology and human-resource development—to maintain a competitive business environment and economic and social stability in order to capitalize on the benefits of liberalization.

Right now, he said, there’s much to be desired in the capabilities of the country. For instance, the poor quality of infrastructure of the country has been cited frequently by several business groups and think tanks as one of the main reasons investors shy away from the country.

On resource development, the Philippines has a lot of catching up to do as its educational system has experienced a drastic decline in standards, resulting in a large number of graduates who don’t have sufficient skills.

So while it is important to strengthen Asean, a special focus must be placed on narrowing the development gap among the member-countries—which will not be achieved by merely deepening regional economic integration.

“Direct interventions at the regional level are necessary and this will be difficult to accomplish without East Asian countries establishing political rapprochement,” Yap said.

On her part, Austria said developing a common framework is a challenge itself for the Asean given the different levels of development of the member- economies.

She said Asean must review its approach and position as the hub of bilateral trade deals in East Asia if it wants to play a major role in building the whole process toward the formation of the East Asian community.

“An ideal framework would be one that strengthens, rather than contradicts, the market forces known to drive economic integration of the region,” she said.

dancethingy

October 1st, 2011, 09:03 AM

this is part of the reason why the US defaulted on it's foreign debts yet the US economy has not completely rebounded

The US DID NOT DEFAULT. The debt ceiling was raised days before the set deadline. This is a fact.

Infrastucture in any country with a growing population is never enough that's for sure. What infrasture project do you think would invite foreign investors when we all knew that the country has the most unfriendly investment atmosphere there is not to mention the negative image of the country in terms of corruption and safety.

How can the infrastructure should come first when it comes to the Philippine economy where the image is tainted, the foreign investment and ownership isn't favorable and has for decades been unfriendly to potential foreign investors? Construction workers and engineers are definitely hired in infrastructure building as well as most of the imported materials but how about other professions or other workers for factories? But does infrastructure generates return? IMO only the investors are making profit for it along with the corrupt government officials, besides construction workers in the Philippines are underpaid, they are being paid mostly under the table unlike in most countries where construction workers makes atleast a decent living.

There has been decent roads in the Philippines, it's not the best of it's kind but as far as transporting goods and products there are enough of these already. It's not like all the highways and roads in the Philippines are made out of dirt and gravel. How much more would you need. Isn't what really creates job and generates a solid revenue are the manufacturing corporations for export?I don't think the Philippines has nearly reached that status yet, to be one of the leading exporters in asia if not the world, because why? Pretty much every thing is imported. The country do not produce its own exports and if there are those considered as exports, aside from manpower, it's mostly assembly lines for foreign corporations who were all avoiding to get taxed in their respective countries like the US who are mostly using the Philippines a source of cheap labor. Now, had these been Philippine products made from indegenous Philippine materials or advanced technology for export, you would see more foreign investors keeping an eye of the Philippines because they knew they would profit from it. Haven't you noticed? What you buy in the Philippines alot of times are products originally assembled in the Philippines or other 3rd world countries being sold to filipinos at a 1st world price when the average income of filipinos is about $2.00 a day comparing to let's say US, Canada or even Japan where the average income is quadrupled.

What I am driving at is that the other more important issues should be addressed first than the infrastructure since there are decent infrastructures in the Philippines, which one are these? Since the filipinos lacks innovativeness and enterprenuralshipness, the country needs to invite foreign investors. How can you get the foreign investors have faith in the Philippine government when the policy on it for decades has not been very satisfactory. No matter good we build roads and airports, as long as the policies are flawed and the imaged remained poor, you cannot force foreign investors to not look away and shun the country instead?

I am with you about "where the PPP" is... but then again, how can you really see these come into fruitation when Aquino is just in his 15 months or so in office? Planning ahead and making sure that projects would fall into the hands of the corrupt, those definitely would not happen overnight, I understand your frustration on the halted projects of the previous administration but I would not blame the current administration for these, it's been marred with alot of anomalies and corruptions, it somehow worth looking into to indicate this administration's seriousness in irradicating corruption in the country. We do see positive news about here in teh economy thread as well as good news thread, right?

You are the only person i know that is content with the state of Philippine infrastructure. This an irreconcilable difference between the both of us.

I definitely agree with you on our country manufacturing products for our own consumption. The dairy industry for example should be supported by the government because we export so much dairy from NZ and other dairy producing countries. Philippine independance on Dairy would pull down prices on dairy based products.

But we are on the subject of infrastructure. Let me add that infrastructure does not just serve to attract foreign investments, but also improves the lives of Filipinos.

the extension of LRT1 southward, the extension of LRT to the east, the construction of MRT7, the procurement of trains to serve these rail lines. It would improve travel times of workers and students across metro manila while decongesting the roads. Our country is far from having sufficient infrastructure and complacency with what we have now reinforces the Filipino attitude of "puwede na yan." If a train from San Jose Del Monte, Bulacan can be constructed to go all the way to University Belt passing over or under Espana, then it must be built. How many students lives will be improved due to the improvement of travelling times and how many lungs saved from motor vehicle pollution???? This administration flaunted its superiority over the last administration in terms of economic development and infrastructure development with PPP. Im just holding them up to their words.

urban Iegend

October 1st, 2011, 09:11 AM

Is this a low-cost carrier or low-cost terminal? Hanep, Cebu lang ata ang tinipid... :D

LCC terminal siguro.. yung sa TAC lang naman talaga yung totoong low-cost terminal (among the 10 busiest airports) :lol:

dancethingy

October 1st, 2011, 09:12 AM

Do they mistake us as fools? This statement is a farse. They are rethinking the whole policy in front of us, in fact the internal disagreements and conflicting approaches are on full display with the DOTC openly exploring different avenues to obtain financing for vital infrastructure.

Economic officials assure government to be on track
Business World
http://www.bworldonline.com/content.php?section=TopStory&title=Economic-officials-assure-government-to-be-on-track&id=39228

‘NO RETHINKING GOING ON’

Economic managers also sought to assuage concerns after the Department of Transportation and Communications (DoTC) announced on Thursday that it would reconfigure the seven PPP deals under its supervision.

The government could just tap long-term, low-interest official development assistance (ODA) to build hard infrastructure, Transportation Secretary Manuel A. Roxas II had said.

Under this revised scheme, the private sector could manage revenue-generation, operations and maintenance of facilities concerned, he had explained.

"We said before that each PPP project would have a different financing mix," Finance Secretary Cesar V. Purisima said during a press conference after the briefing.

"DoTC projects have a wide gap between economic desirability and financial viability, so ODA loans could be crucial for them."

Asked why the government did not choose this financing mode earlier, Mr. Purisima replied: "We just changed the framework. We didn’t change the approach. There is no rethinking going on."

For its part, the Department of Public Works and Highways, responsible for three PPP projects, said it would not change terms of its infrastructure deals.

"We have a program already. We will not change it," Public Works Secretary Rogelio L. Singson told reporters in the same news conference.

-sharkleman125-

October 1st, 2011, 09:44 AM

Ang bobo naman ng Congressman na ito! Anti-Angry Birds Bill? WTF

AFTER ANTI-PLANKING, LAWMAKER PROPOSES ANTI-ANGRY BIRDS BILL.

MANILA, Philippines – Quezon City Rep. Winston Castelo did not rest on his laurels. After proposing House Bill 5316 or the anti-planking bill, the lawmaker is proposing House Bill 5379 or the anti-angry birds bill.
The distinguished gentleman from Quezon City explained that he got the idea for the bill when he went shopping for Christmas gifts the other day at a mall. “Everywhere I looked, Angry Birds this, Angry Birds that! Where is the product diversity? Shouldn’t the DTI be monitoring this?” said Castelo. He added “…this is why this bill is even more important than my own anti-planking bill. I hope that my colleagues here at Batasan will support this bill.”
Rep. Castelo denied allegations that his proposal is similar to House Bill 4509 or anti-dildo bill, filed last May by Buhay partylist. “It’s a different kind of bird, very different from mine!”
An eyewitness said that Rep. Castelo went shopping at the famous 168 Mall in Divisoria last Saturday and got annoyed when all he saw were Angry Birds themed items. “Naghahanap po sya ng mga regalo para sa mga inaanak nya. Kaso po nung makita nyang panay may nakadikit na Angry Birds ang paninda namin, eh dun na po sya nag walk-out” (He was looking for gifts for his godchildren. But he walked-out when he saw that all our products had Angry Bird stickers on them) said a vendor who met Castelo.

PETA members protesting against the Angry Birds game.
This is not the first time that the popular IOS game (also available on Windows & Android) was in the news. Just last month, the People for the Ethical Treatment of Animals or PETA staged a protest denouncing the premise of the game. They said: “we are influencing our children into thinking that killing pigs and destroying their homes is ok. It is not!” Another PETA meber said that “if we think that demolishing the shanties around the Metro is inhumane and against human rights, what do you think these green pigs feel when a bird destroys their fortresses. Those swines has feelings and rights too!”
House Bill 5379 or the anti-angry birds bill aims to monitor the diversity, quality and quantity of items bearing the angry birds likeness. According to the draft, a stall shall have no more than two kinds of the said birds emblazoned on it’s items. Items under the scope of the bill, includes but is not limited to: cups, mugs, pens, crayons, stickers, underwear, t-shirts, lingerie, cellphone accessories, plush dolls, action figures, books, spoon & forks, plates, caps, children’s toys, pins, clothing accessories, hair accessories, pants, shorts, watches, flash drives, wrist straps, pillows, candies, and stationary items among others. Items not stated above but bears semblance or similarity to the Angry Birds franchise are subject to the law as well.
Violators to this law will be sentenced to 6 months solitary confinement to a special facility called “The Angry Birds Room” inside the New Bilibid Prison. The room will be composed of an Angry Birds toilet,sink, tissue paper & soap, as well as walls painted with scenes from the game. Eating utensils for the inmate will also come standard with the said designs. Vendors who are found guilty are also subject to the confiscation of the prohibited items which will then be burned or donated to “The Angry Birds Room”.

wheel of steel

October 1st, 2011, 09:50 AM

RonnieR - in my opinion what you have to appreciate also is that Filipinos hate mayabang and arrogant leaders. To me, Pnoy is a little arrogant and rather than admit his mistake engages in smoke screen tactics. If he would just clearly state that a) we made a mistake last 2 quarters and b) we have done the right adjustment to policy... that would make people appreciate his leadership and be happy with the good news.... rather than transparent and honest economic evaluation he went on saying "nag tipid kami" or i'd rather underspend to review all contracts which is far from the truth.

Also don't feel bad if people don't respond to the good news, baka mataas lang ang expectation nila kay Pnoy.... dapat lang mataas. If you do good, that's expectation. If you do bad, you are failure. ganun talaga... kaya nga mahirap maging presidente eh

Tama po kayo... Mayabang talaga si Abony, kitang kitang kita naman palpak lahat mga pangako nya.

diz

October 1st, 2011, 10:24 AM

leofriends

October 1st, 2011, 10:34 AM

^^:dance:^^

CebuMagigger

October 1st, 2011, 12:36 PM

william :D

October 1st, 2011, 02:18 PM

matatandang retarded ba ang mga kongresista natin? :doh:

manila_eye

October 1st, 2011, 02:52 PM

ang dami naman agad naniwala sa anti-angry bird bill eh gawagawa lang naman yang article na yan ng isang blogger. ang dami agad nauto dito :|

Parchie

October 1st, 2011, 03:09 PM

ang dami naman agad naniwala sa anti-angry bird bill eh gawagawa lang naman yang article na yan ng isang blogger. ang dami agad nauto dito :|
Yung "dami" na iyan, sigurado akong hindi ako kasali! Hahehahe!

Manila-X

October 1st, 2011, 03:15 PM

Askal82

October 1st, 2011, 04:05 PM

OtAkAw

October 1st, 2011, 04:20 PM

^^The moment I read this part:

“Everywhere I looked, Angry Birds this, Angry Birds that! Where is the product diversity? Shouldn’t the DTI be monitoring this?”

I knew the article must have come from a humor blog like Mosquito Press. An elected congressman may be an idiot for all he's worth, but I'm sure he's keeping at least one competent person on a payroll as part of his staff to stop him from saying something as preposterous as the quote I posted.

I think this is the original post: http://sowhatsnews.wordpress.com/2011/09/30/after-anti-planking-lawmaker-proposes-anti-angry-birds-bill/. It's a humor blog and it's pretty good. :lol:

Perseus II

October 1st, 2011, 05:09 PM

tawa ako ng tawa dito lalo na dun sa part about dun sa powerpuff girls... :lol: :lol: :lol:

totoo ba talaga ito? :lol: :lol: :lol:

http://sowhatsnews.wordpress.com/2011/09/22/lito-lapid-a-huge-fan-of-spongebob-squarepants-in-filipino/

boypad

October 1st, 2011, 05:32 PM

^^ Now we are at the level of developing country when it comes to electricity rate :lol:

Report: Philippines’ power rates among the world’s highest

SunStar Manila - Philippines
Saturday, October 1, 2011

MANILA—Filipino households and businesses are shelling out hefty amounts for electricity, which now stand neck-and-neck with those in some of the richest nations.

Quoting a 2009 report of the International Energy Commission, the Philippine Chamber of Commerce and Industry (PCCI) found that rates charged to industries at least in the Meralco franchise area in Metro Manila is at 13.2 US cents per kilowatt hour.

This rate put the country tied at fourth place with the United Kingdom.

Italy had the highest rates at 18.7 cents followed by Germany at 17 cents and Singapore at 13.8 cents. The Netherlands placed fifth in charging industrial rates at 12.3 US cents per kilowatt/hour.

Electricity rates in Japan and the United States were way below the Philippines.

Among residential users, the Philippines again landed at sixth place worldwide with its 2009 rates of 18.1 US cents.

Only the Netherlands, Italy, Germany, Sweden and Australia collected a few more cents per household user than the Philippines.

"But that was in 2009," pointed out Jose Alejandrino, head of PCCI's energy committee.

Household rates in the Philippines which averages P10 per kilowatt/hour is a bit over 23 US cents per kilowatt/hour, which was the rate Australia charged its citizens two years ago.

But the Philippines may be catapulted to the top of the heap once the rate increases totaling 98 centavos per kilowatt hour sought by the National Power Corp. and Power Sector Assets and Liabilities Management Corp. will be approved by the Energy Regulatory Commission.

If approved, the new rate hikes being sought will increase industrial rates in the Philippines to about 18 cents per kilowatt/hour and make the country close to charging rates same as Italy.

The same increases if applied to households will get the Philippines close to the top three nations of Netherlands, Italy and Germany in having the highest electricity in the world.(Virgil Lopez/Sunnex)

http://www.sunstar.com.ph/breaking-news/2011/10/01/report-philippines-power-rates-among-world-s-highest-182549

RonnieR

October 1st, 2011, 05:39 PM

^^ Now, i'm iffy on this one, but I guess that's better than not doing anything to create more jobs. I hope they would open it to HS grads who can't afford to go to college or atleast those poor filipinos in HS level only.

Palace offers outsourcing training to universities :banana::cheers::banana::cheers::banana::cheers:

by Maricel Cruz

http://www.manilastandardtoday.com/insideNews.htm?f=/2011/september/30/news5.isx&d=2011/september/30

THE Palace is considering spending P1 billion to train students and faculty in state universities and colleges to work in call centers and other outsourced services, Budget Secretary Florencio Abad said Thursday.

Abad, criticized for cutting funding to state universities, said he had already submitted a feasibility study on the program to President Benigno Aquino III, and that it would take three months to carry out.

He said “a little over a billion pesos” would be required to train about 62,000 potential applicants with a guarantee that about 37,000 will be hired.

“We have in fact submitted to the President an additional budget of P500 million [for this purpose],” Abad told reporters.

He did not itemize the spending or fund sources, saying only that the amount would be used by lead agencies such as the Technical Education and Skills Development Authority, the Commission on Higher Education, and the Education Department, which will carry out the program in partnership with the business process outsourcing industry.

“This is on top of what is going to be provided in the General Appropriations Act,” Abad said.

“We will include them as part of the additional expenditures that we have put together, that the administration is going to implement over the next three months to further accelerate the government’s spending program.’’

The strong support from the government on BPO is encouraging. In the medium term (a decade), PH will maintain its competitiveness in this industry.

RonnieR

October 1st, 2011, 05:52 PM

I'm not into that game but to me this is a big fuckin joke. The fact we have lechon in every corner and sabong matches and these are some of the aspects that is part of our culture that PETA can't do anything about. And these are more cruel than that game.

And where did you get this article from?

The article came from online bloggers. If this is true, then he is the same Congressman who filed a Bill for Anti-Planking. There is also a pending bill for Anti-Dildo. I don't know if these Congressmen are running out of ideas since PH has so many laws.

http://sowhatsnews.wordpress.com/2011/09/30/after-anti-planking-lawmaker-proposes-anti-angry-birds-bill/

http://www.juanslife.com/news-events/local/anti-angry-birds-bill

mwg12a

October 1st, 2011, 08:59 PM

The strong support from the government on BPO is encouraging. In the medium term (a decade), PH will maintain its competitiveness in this industry.

They should support BPOs, atleast through these, it will produce more jobs since the country lacks innovativeness and competitiveness in advanced technology for export.

bitoy

October 1st, 2011, 10:44 PM

The article came from online bloggers. If this is true, then he is the same Congressman who filed a Bill for Anti-Planking. There is also a pending bill for Anti-Dildo. I don't know if these Congressmen are running out of ideas since PH has so many laws.

http://sowhatsnews.wordpress.com/2011/09/30/after-anti-planking-lawmaker-proposes-anti-angry-birds-bill/

http://www.juanslife.com/news-events/local/anti-angry-birds-bill

These congressmen/women should be taking care of their congressional districts, meddling with national issues with some senseless bills to become laws of the land really shows they are NOT needed in public service.

kenken94

October 2nd, 2011, 03:41 AM

Manila-X

October 2nd, 2011, 03:50 AM

We should not even be talking about The Angry Birds issue since it is a sattire. And if is true, the chances of becoming law is nada.

What we should discuss is how our country's economy will be affected by the 2 recent typhoons especially within Luzon. And how we will be able to quell that.

kenken94

October 2nd, 2011, 04:19 AM

^^ Climate Change worsens the bad weather pattern of the country. The cost for rebuilding damaged infrastructure could be too much. We should've learnt a lesson for a long time already.

xxxriainxxx

October 2nd, 2011, 08:54 AM

LOL. That was satire. :D HEHEHEHE.

pero yung anti-dildo law, totoo yun. At least yun ang sabi sa akin.

:D

Anyway, I am very hopeful and optimistic about our economy. A lot more of good news are coming out from the Philippines as well as credit agencies, now if we can highlight these instead of pulling our image down with negativity, makakaya natin ito. At sana may kumagat na sa PPP ni Pnoy! :banana:

Manila-X

October 2nd, 2011, 08:57 AM

I'm also optimistic as well. I do hope the our local media should report these kinds of news more than the negative ones.

amigo32

October 2nd, 2011, 09:09 AM

TambayBlues

October 2nd, 2011, 09:12 AM

Para sa mahilig sa Hentai este Manga pala. Eto yung kwento tungkol sa founder ng Murata Manufacturing Co., Ltd. ng Japan.

The Wonder Stones - The Akira Murata Story

http://www.murata.com/corporate/d-book/index.html

xxxriainxxx

October 2nd, 2011, 10:38 AM

ano nga yung dildo?:D

Ano sa tingin mo? :D

wheel of steel

October 2nd, 2011, 11:34 AM

I'm also optimistic as well. I do hope the our local media should report these kinds of news more than the negative ones.

Relax, it aint happening at all.. Abs Cbn (Abiascbn) and Phil Star and many more medias, are all on the side of Pres. Abony. These culprits have already enjoyed a lot posting bunches of negative news against Ate Glue before. So it won't happen at all. They have enough of this..

UNLESS OF COURSE, THEY'RE REALLY SMELL SOMETHING FISHY ON ABONY'S SCHOOL OF FISHES....

TambayBlues

October 2nd, 2011, 01:46 PM

froghat

October 2nd, 2011, 01:56 PM

InfinitiFX45

October 2nd, 2011, 02:59 PM

PH to weather Euro crisis :banana::cheers:

by Roderick T. dela Cruz

http://www.manilastandardtoday.com/insideBusiness.htm?f=/2011/october/1/business1.isx&d=2011/october/1

Philippine banks are in a good position to ride out the European debt crisis, given their limited exposure to the region’s financial assets, Bangko Sentral Governor Amando Tetangco Jr. said Friday.

“As of June 30, 2011, Philippine banks exposure to Europe was only 1.4 percent of its total assets. This was down from Jan. 31, 2010, when the figure was 2.9 percent. Philippine banks took defensive position, given the brewing debt problems in Europe,” Tetangco said during the Philippines’ mid-year economic briefing held at the Philippine International Convention Center in Manila.

Tetangco was responding to the possible impact on the country of the looming debt crisis in Europe, which caused panic at the financial markets over the past few weeks.

“There will continue to be risk on, risk off in the coming months,” said Bankers Association of the Philippines president Aurelio Montinola III.

Montinola, however, said Philippine banks remained healthy, with a loan growth of 19 percent, a capital adequacy ratio of 16 percent and non-performing loan ratio of 2.7 percent.

Tetangco said the Philippines was expected to remain resilient despite the new global financial crisis, given its healthy macroeconomic fundamentals, sustained economic growth, sound and stable banking system, little exposure to European banks, strong external position, improving fiscal position and governance reforms initiated by the new administration.

“But we are not immune. We need to be alert to international developments. We are coming from a position of relative strength,” he said.

Finance Secretary Cesar Purisima also said the Philippines was in a better position to handle the crisis than it was in 2008, when it dealt with the global financial meltdown.

Purisima said the country even deserves another upgrade from the international rating agencies and should attain an investment-grade status before the end of the term of President Benigno Aquino III in 2016.

Tetangco predicted that once the risk aversion among investors faded, the Philippines would again continue to be a magnet for capital flows.

He said as soon as the European problem is resolved, Asia including the Philippines would continue to attract foreign capital flows. The Bangko Sentral governor said the Philippines preferred long-term investments to capital flows of speculative type.

“Volatility in the financial market recently is temporary. Once the dust settles, capital flows will come back to emerging markets, including the Philippines,” he said.

Parchie

October 2nd, 2011, 03:10 PM

Everything has a price, to start with. By underspending, this admin sacrificed millions to bite the high prices and the unemployment as well as the contraction of the economy. I doubt if those people hardly hit by these decisions can call that move as intended "to serve the best interest of the Filipino people".

If only our people are blessed with a lasting memory of things that occurred in our history as people, these advisers should be remembered and never be allowed to hold offices in the future, IMHO. Good for those who got lots to spare and ride through these crisis. It's painful to the poorest of the poor!

eonynx

October 2nd, 2011, 03:46 PM

With regards to Aquino underspending on infrastracture, I have a good hunch his economic planners are waiting for the next credit upgrade from the ratings agencies i.e. S&P, Moody's etc. before they fast track these projects which will be funded significantly thru foreign sources i.e. sovereign bonds, foreign loans etc. As most of you are probably aware of, Pnoy has openly stated that one of their goals is for the country to achieve investment grade status for our debt papers since we're only one notch shy of that coveted status. The government knows that if we do get the nod in this regard then it means less burden on the taxpayers in the form of lower interest payments to pay for these projects over the long term.

With regards to why our foreign debt grew to $61 Billion or so, I believe a press release has stated that a significant portion of the increase is largely attributed to the weakening of the Dollar versus other currencies i.e JPY, Euro etc. since apparently our foreign debt is not entirely denominated in the greenback.

so this is the possible reason why this administration continues to underspend. months ago, when the data for economic growth showed continued quarter-on-quarter declines vi-a-vis the mounting levels of inflation, i thought it incumbent upon this government to execute two things. the first would be to pump prime the economy by engaging in carefully orchestrated increased spending on projects that will have great multiplier effects on the economy with great job creation.

the second would be to further lower interest rates to tolerable levels. this is to lower the cost of borrowings that would encourage continued expansion in the business sector. the medium term solution could be to adopt and effectively implement policies that would spur productivity to put a contagion on the continued pressure on the increase in the prices of staple goods and commodities.

well then, i hope that credit review with the resulting investment grade status would come within the next 3-4 months. the last thing i want is for the growth rate and inflation to kiss each other, thereby, negating the purchasing power of the average consumer.

as for our foreign debt, the administration could perhaps aggressively start paying for the dollar denominated debt instruments to take advantage of strong peso against the dollar. this is for the country to significantly shave off a huge chunk of our sovereign borrowings.

wheel of steel

October 2nd, 2011, 03:51 PM

eonynx

October 2nd, 2011, 03:58 PM

PH to weather Euro crisis :banana::cheers:

by Roderick T. dela Cruz

http://www.manilastandardtoday.com/insideBusiness.htm?f=/2011/october/1/business1.isx&d=2011/october/1

`

the problem with this euro-led crisis is that europe's economic structures and systems, unlike the US's, take a longer time to adapt and adopt. in light of these, i expect a more protracted battle and suffering and consequently, more negative effects for the global economy in the long run.

Parchie

October 2nd, 2011, 04:48 PM

I agree with u Parch... but how about the Conditional Cash TP, will this cushion the effects of this sacrifice to their overall lifestyle or it will just worsen their economic condition? tnx

Firstly, I have had a heated discussion with @icarusrising on the matter of CCT program - Philippine style, previously. One thing that hit me in this existing program is the choice of target levels (elementary or secondary level). I pointed out a development in other cash transfer programs in Latin America in which they refined their target recipients to focus more on the secondary level entry.(perhaps it didn't mean they stopped their elementary recipients all throughout) The Latin American CCT administrators made their own audit and found out that there is a bigger drop-out rate in the secondary level recipients due reasons that: 1) parents are contented with having their children finish elementary;
2) kids opt to help their parents in economic activities to bring food to their tables after completing their elementary education; and
3) There isn't many secondary schools in most recipient locations, the money they receive can't possibly allow them to make it.

But our CCT program here is to cover both levels when it is a sure thing kids will complete their elementary as public elementary education is much easier (public elementary schools are plenty) and parents will surely move heaven and earth to have their kids finish elementary education at the very least. If DSWD spends more on the secondary level, pull-down its elementary education expenses, perhaps we can produce more high-school grads that can be employable at some establishments in the country. CCT could have made a bigger bang for the same amount spent.

Secondly, that is not to mention that the system for DSWD to monitor progress and compliance to the conditions they have set is a far cry from being "functional". Ever wonder why we don't see timely progress reports on CCT? Without a proper monitoring system, the system becomes a plain dole-out, the expected gains not assured achieved. As in business, the inability to measure progress and fine-tune the operations makes the endeavor a candidate for failure. Billions of peoples' taxes down the drains.

Lastly, i don't believe it's a good thing to be providing people with the skills to be employable, yet we are not doing good with making employment possibilities for these graduates. Where are these graduates going after completing their studies?

Still, it could have been better to have taught our people how to fish and let them know how to fish for a lifetime than giving them fish which will be gone after a few meals!

Sorry for the long post.

Ady001

October 2nd, 2011, 04:58 PM

Do you think na dapat bawasan na natin yung mga mambabatas natin at kumuha pa ng mga law enforcers? Gawa kasi ng gawa ng batas hindi naman sinisunod.

bitoy

October 2nd, 2011, 05:05 PM

Do you think na dapat bawasan na natin yung mga mambabatas natin at kumuha pa ng mga law enforcers? Gawa kasi ng gawa ng batas hindi naman sinisunod.

:lol: gawa sila ng batas na bawal ang baha sa distrito nila....

hindi na naisip ng mga kongresista na kaya sila binoto(kung tutoo man) ng mga mamamayan sa lugar nila ay para tulungan ang lugar na nasasakupan nila.

Asan ang mga Mayor, governor at ibang opisyales ng mga lugar na sinalanta ng bagyo?

Parchie

October 2nd, 2011, 05:06 PM

Do you think na dapat bawasan na natin yung mga mambabatas natin at kumuha pa ng mga law enforcers? Gawa kasi ng gawa ng batas hindi naman sinisunod.

Which house are you going to reduce? IMO, the Lower House is a representation of the whole country (except the sector reps, mostly qualified due to number of members, not by geography). The Senate is a totally different group of animals.

leofriends

October 2nd, 2011, 05:41 PM

Parchie

October 2nd, 2011, 06:07 PM

confidently.. im believing on this.. :cheers:

remember last 2007 financial crisis in which almost economies are struggling to become stable.. pero tayo sinisiw lng...:lol:

It is never correct to downplay the ramifications of events happening on the other side of the pond, IMHO. Each crisis is unique and requires a different tact when confronting them. Until we see things normalizing, it's the right time to claim what's good in our system and brag about it. The problems will never allow one to see everything. It's the unseen that brings problems, not what is in clear view. So, the proper attitude is to look at the problem and see which item could impact on us and act quickly. Complacency claimed more nations compared to those who remained vigilant. just my two centavos here.

wheel of steel

October 2nd, 2011, 07:16 PM

Firstly, I have had a heated discussion with @icarusrising on the matter of CCT program - Philippine style, previously. One thing that hit me in this existing program is the choice of target levels (elementary or secondary level). I pointed out a development in other cash transfer programs in Latin America in which they refined their target recipients to focus more on the secondary level entry.(perhaps it didn't mean they stopped their elementary recipients all throughout) The Latin American CCT administrators made their own audit and found out that there is a bigger drop-out rate in the secondary level recipients due reasons that: 1) parents are contented with having their children finish elementary;
2) kids opt to help their parents in economic activities to bring food to their tables after completing their elementary education; and
3) There isn't many secondary schools in most recipient locations, the money they receive can't possibly allow them to make it.

But our CCT program here is to cover both levels when it is a sure thing kids will complete their elementary as public elementary education is much easier (public elementary schools are plenty) and parents will surely move heaven and earth to have their kids finish elementary education at the very least. If DSWD spends more on the secondary level, pull-down its elementary education expenses, perhaps we can produce more high-school grads that can be employable at some establishments in the country. CCT could have made a bigger bang for the same amount spent.

Secondly, that is not to mention that the system for DSWD to monitor progress and compliance to the conditions they have set is a far cry from being "functional". Ever wonder why we don't see timely progress reports on CCT? Without a proper monitoring system, the system becomes a plain dole-out, the expected gains not assured achieved. As in business, the inability to measure progress and fine-tune the operations makes the endeavor a candidate for failure. Billions of peoples' taxes down the drains.

Lastly, i don't believe it's a good thing to be providing people with the skills to be employable, yet we are not doing good with making employment possibilities for these graduates. Where are these graduates going after completing their studies?

Still, it could have been better to have taught our people how to fish and let them know how to fish for a lifetime than giving them fish which will be gone after a few meals!

Sorry for the long post.

wow.. thank you s mch! Parch . Now, Im fully explained.

Just a couple of days ago, I was on my way to Landbank to get a cash. I sudenly suprised big crowd, I was forced to ask guard what was these all about. He saiday was the released of CCTP for a certain sector in our town who happens to be an island. From what I've seen, it's no surprise that only one awardee, whole family come to get it. I can't imagine how much money they can save from fares, they even sacrifice,just to get this incentive cme from the government.

mwg12a

October 2nd, 2011, 08:52 PM

wino

October 2nd, 2011, 10:53 PM

With regards to why our foreign debt grew to $61 Billion or so, I believe a press release has stated that a significant portion of the increase is largely attributed to the weakening of the Dollar versus other currencies i.e JPY, Euro etc. since apparently our foreign debt is not entirely denominated in the greenback.

hmm...

I guess that is true.. for the JPY but not on EURO.
Our YEN denominated debt is 38% (or more than a third) of the total.. and Yen has yielded so much vs. the US dollar.
plus i think the increase is also attributed to more BORROWINGS the government had this past year to plug in deficits.

on the JPY appreciation.. it's has been a norm for ASEAN countries to turn a blind eye on the fast appreciation of the yen.. which is weird, coz that will mean higher debts for these countries when YEN appreciates against the USD.
How can Asian governments not pressure Japan to control the fast appreciation of the YEN? This significantly increases debts of countries that have YEN denominated debts like Indonesia 37.7%, Malaysia 39.4%, the Philippines 38.1%, and Thailand 53.0%.

This also impacts greatly our government budget.. since our debt service is automatically appropriated..
It will specially be trouble for us, when the yen value appreciates beyond what is assumed in the programmed budget.
Result will be higher budget deficits and Less budget for social and economic services for the country.

so Overall, YEN APPRECIATION is really bad for our government finances.

mwg12a

October 2nd, 2011, 11:13 PM

IMF analysis on Philippine economy January 2011

http://www.imf.org/external/pubs/ft/scr/2011/cr1158.pdf

boypad

October 3rd, 2011, 02:03 AM

DOTC to terminate RORO deal :ohno:

The Manila Times.net
Monday, October 03, 2011 00:00
Written by : DARWIN G AMOJELAR SENIOR REPORTER

THE Aquino administration will terminate the contract signed by the previous government with a French contractor to establish roll-on roll-off or RORO ports nationwide, according to the Department of Transportation and Communications.

Secretary Manuel Roxas told reporters that the government already informed Eiffel-Matiere Consortium that the P11.8 billion contract is under review and “we want to terminate it.” Under the contract, Eiffel-Matiere will establish 72 modular RORO ports nationwide.

The loan from BNP Paribas has been effective since 2009 and was approved by the Monetary Board. Roxas said the government would compensate the contractor for the delivery of materials.

The review of the contract came on the heels of a report made by state-run Philippine Ports Authority that the project was overpriced. Earlier, Eiffel-Matiere threatened to sue the government for contractual violations.

Patrick Azanza, senior adviser to the Eiffel-Matiere, had said the P83 million cost per modular port is cheaper than the P400 million traditional port of the PPA.

The project would use prefabricated steel ports composed of five interdependent modular parts, such as pier or causeway connecting to shore, mooring platform, manual ramp dolphin, and passenger terminal with solar power utilities.

The French contractor had said it was amenable to an amendment of the contract. In 2003, then President Gloria Macapagal-Arroyo issued a policy to promote RORO, a system designed to carry rolling stock cargo that does not require cranes for loading or unloading.

Called the Strong Republic Nautical Highway, the project aimed to ensure fast and economical movement of goods and people, and to boost domestic tourism and trade.

http://www.manilatimes.net/index.php/business/top-business-news/8488-dotc-to-terminate-roro-deal

boypad

October 3rd, 2011, 02:05 AM

Focus on infra, BPI prexy urges :laugh:

Business Insight - Malaya
October 3, 2011

THE government should focus on infrastructure building to capture a bigger share of foreign investment, Bank of the Philippines Islands president Aurelio Montinola III.

Speaking at the sidelines of last week’s Quarterly Economic Briefing, Montinola, also head of the Bankers Association of the Philippines, said the country should become more attractive especially now that uncertainty is gripping the developed economies.

"The developed world will have slow growth and divisive politics," Montinola said.

Sadly, foreign investments have been growing slowly, he said.

Data from the Bangko Sentral ng Pilipinas showed that foreign direct investments (FDI) posted net inflows of $64 million in June this year.

Positive balances were recorded across all the major FDI categories during the month but net equity capital infusion amounted to $20 million, 66.7 percent lower than the level posted during the comparable period in 2010.

Montinola said the government’s public-private partnership (PPP) initiative could be a good vehicle for growth in investments, hence, it should be fast-tracked.

"(Investors) need concrete projects to invest in. We have been talking about PPP for about a year now," Montinola said.

"The government should not only focus its resources on helping the poor through CCT, but also helping the middle class through better infrastructure," he said.

He said consumption, the major driver of the country’s growth the past years, will likely go down with the expected leveling off of remittance inflows.

"At some point, the overall number (of the amount of remittances) will plateau," he said.

He said the economy over the years depended largely on remittances, which support consumption. Consumption was strong partly due to a weak peso.

"Given this, economic growth should focus on the ‘G’ (government spending) and the ‘I’ (investments) because ‘C’ (consumption) will be affected by the peso’s appreciation and remittances reaching a plateau," Montinola said.

Montinola earlier said lending is still likely to grow in double digits this year despite unfavorable external factors.

"I think, in simple terms, the banks want to lend but the business people have learned their lessons of ’97. They don’t want to overborrow; they will borrow (only) if there’s a good project," Montinola said

He said in the best-case scenario, bank lending will grow between 10 percent and 12 percent this year.

"Well, again, you have to look at what happened in the second half of last year. Remember the first half of last year. It was a lead-up to the elections. And then people started lending after the elections in a bigger way. So the (percentage) increases in the first quarter and possibly even into the second quarter will not look good versus the base last year," he added.

"But in the third quarter, we will see. That’s why we need the PPP, we need the other items so that there would be continuing lending growth," he said.

He said PPP, however, will only have minimal impact this year on banks’ lending portfolio.

"The PPP will not affect this year because under the PPP rules, I’m told, the bidding process is six months, and then the winner has six months to start. Unless, which is also possible, unless the proponents need pre-operating financing. Still lending won’t be affected that much," Montinola said.

He said that the real impact would be felt next year.

"That’s also good. Because what you need for the Philippines is every year you have some growth," he said.

http://www.malaya.com.ph/oct03/busi4.html

InfinitiFX45

October 3rd, 2011, 06:22 AM

Phl one of top destinations for services outsourcing :banana::cheers:

by Pia Lee-Brago (The Philippine Star) Updated October 03, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=733244

MANILA, Philippines - The Philippines has established itself as one of the top destinations globally for services outsourcing, being second only to India.
The Philippine Permanent Mission in Geneva reported that Trade and Industry Undersecretary for Industry and Investments Cristino L. Panlilio recently informed the 58th Session of the Trade and Development Board, which oversees the activities of the United Nations Conference on Trade and Development (UNCTAD), that the Philippines’ cost competitiveness, excellent telecommunications infrastructure, large talent pool and strong public-private sector had attracted multinational companies.

Panlilio also said that partnerships, and relatively low risk perception are among the factors that transnational corporations considered in selecting the Philippines for services outsourcing.

Services outsourcing in the Philippines includes voice business process outsourcing (BPO), non-voice BPO in finance, accounting, medical transcription, and other areas, and information technology – electronic service outsourcing (IT-ESO).

In 2010, the Philippine IT-BPO industry reached US$9 billion in revenues, and engaged the services of 530,000 full-time employees in financial services, human resources, IT and software development, management services, engineering design, animation and other sectors.

Panlilio noted that the industry now accounts for 60 percent of the country’s total services exports.

In 2011, the industry is expected to generate $11 billion in terms of services export revenues, and to provide employment to 640,000 people.

coffeeworld

October 3rd, 2011, 06:33 AM

parang tahimik ata ang anti pnoy ah???wla ata silang magawang palusot...sabi nga ni Pnoy, kahit mabagal ang proseso basta cgurad0ng may pupuntahan, kaysa sa mabilis pumapalpak naman...

NOVO ECIJANO

October 3rd, 2011, 06:42 AM

With those economic news,China is no match to the Philippines:lol:
They're to many too believe them.I dont even read them.

Parchie

October 3rd, 2011, 06:49 AM

s40

October 3rd, 2011, 06:57 AM

Para mo na ring sinabi na wala pang palpak kahit makupad ng admin na to ah!
Mas maigi kung meron nang nagawa! Kung gusto mo malaman ang progress ng mga promises niya, heto:

punta ka dito (http://www.abs-cbnnews.com/aquino-promises)

lupit........ mga pangako na na pako.....

coffeeworld, pare nag iintay pa din kami kahit 1 man lang na resulta kaya lang wala pa eh... kahit 1 man lang na major result na talagang bigatin ok na kami mga skeptics (not anti-pnoy) naka 15 months na, naka 17% time elapsed na wala pa din.

Time Elapsed: 17% Output: ?% = disenchantment

KnightOfTheFlag

October 3rd, 2011, 08:43 AM

boypad

October 3rd, 2011, 08:43 AM

Aquino: Cha-cha not a solution to boost economy :ohno:

SunStar Manila
Monday, October 3, 2011

MANILA (Updated 12:40 p.m.) -- President Benigno Aquino III maintained Monday his position not to amend the economic provisions of the Constitution noting that it is not the only way to improve the economy.

“I do not agree that it is the solution to boost our economy,” Aquino said in an interview with reporters in Malacañang.

Citing the market in China, the President said the economic advantage of investing in a country is important rather than the political system.

“We know that China has huge market and that is the reason why they attract many investors. However, as their labor cost starts to rise, investors have started to transfer businesses elsewhere,” he said.

Aquino said he is willing to listen to his allies in Congress about their positions regarding the Charter change but his stand will stay for now.

Earlier, Senator Edgardo Angara said amending economic provisions in the 1987 Constitution that restrict foreign ownership in Philippine businesses should be made a priority.

Angara said that under the present setup, the cap on foreign ownership "either drives off investors or pushes them to use dummies."

Senator Franklin Drilon, whom Senate President Juan Ponce Enrile tasked with preparing a position paper on Charter change, said the time is ripe to amend restrictive economic provisions in the Constitution.

"To me, more than any other time, this is the best time to propose amendments to the Constitution. The trust rating of the President is very high. He can exercise his political leadership," Drilon said.

“We are in a democratic country. At least all of these ideas should be explored. But if I’m asked my personal opinion, I don’t think Cha-cha is a necessary move at this point in time,” Aquino said.

He added that he was one of those who strongly opposed the Constitutional assembly before, thus his position on Cha-cha will still be the same. (Jill Beltran/Sunnex)

http://www.sunstar.com.ph/manila/local-news/2011/10/03/aquino-cha-cha-not-solution-boost-economy-182852

diz

October 3rd, 2011, 08:49 AM

bobo kc.

s40

October 3rd, 2011, 08:52 AM

haha putcha totoo ba yan balita na yan......????

Ecohonomist talaga si Pnoy, galing mo!! palakpakan!!!

“I do not agree that it is the solution to boost our economy,” Aquino said in an interview with reporters in Malacañang.

“We know that China has huge market and that is the reason why they attract many investors. However, as their labor cost starts to rise, investors have started to transfer businesses elsewhere,” he said. HAHAH :nuts: stroke of Genius!!! amp!!!! ano kaya data niya na investors have started to transfer businesses elsewhere????? sigurado ka bang transfer yan or additional investment lang elsewhere? Mr President hindi po nag lalabas ng pera sa China at hindi nag lalabas ng investment duon dahil super layo pa ng ilalaki ng China....... kung me outflow man higit na malaki ang inflow sa CHina......... sino kaya nag bibigay ng data dito kay Pnoy.

Nabartek

October 3rd, 2011, 08:56 AM

Typical Juan Tamad. Hinihintay na mahulog ang bayabas mula sa puno. Hehe

I wonder if he'd agree to amendments if he does not agree with charter change? It's the closest thing to cha cha. Some laws need to be reviewed. Some of them are so old that they are stifling not only foreign investment but as well as domestic/local investment

KnightOfTheFlag

October 3rd, 2011, 09:01 AM

s40

October 3rd, 2011, 09:03 AM

bossing...medyo hinayhinay lang sa pananalita baka ma-lock na naman tayo...

haha ni sanitize ko na ang pag ka bwisit at bilib ko kay Pnoy:nuts: mukang talagang Abnoy na dapat ang itawag diyan

KnightOfTheFlag

October 3rd, 2011, 09:28 AM

Sabi ko nga noon hindi nya naman kailangan maging super talino o "superman" para mamuno ng maayos....kailangan nya lang makinig sa mga may mas nakaka-alam at mas may karanasan sa ganitong bagay para maipatupad at maitama ang anumang problema at balakid sa pag unlad ng ekonomiya at bayan...eh nagmamagaling kitang kita naman na konti o wala syang kaalaman o karanasan sa larangan ng ekonomiya at kalakaran....sabi nga nila "A wiseman doesn't know all the answers....but he knows where to get them"....nakapaligid na nga sa kanya yung mga ka-alyado nya na nagsasabing "ito ang tama at dapat nating gawin".....dedma lang sya...

Anti corruption drive lang ang solusyon nya para lumago and ekonomiya...eh pag nakasuhan ng lahat ng hinahabol nya at nasa kamay na ng korte ang lahat ano pa gagawin nya para lumago ang ekonomiya??....maghintay? maghanap ng masisisi? manligaw ng mga bagong beauty queen?....:ohno::ohno:

Manila-X

October 3rd, 2011, 09:31 AM

What next? Impeachment?

Parchie

October 3rd, 2011, 09:38 AM

What next? Impeachment?

I am no legal expert, but can we ask legal minds about how that thing prospers? I am not a wise man but I guess we will find answers here from those who know a lot.

s40

October 3rd, 2011, 09:44 AM

impeachment would be a waste of time and would add more destabilization to our beloved Pinas..........

How to fix the head of this President? Can we get some hot chick to become a double agent para manipulate si Pnoy? hahaha what a hopeless President we have

leofriends

October 3rd, 2011, 10:51 AM

cha cha? kailangan ba yun? hehe.. para sakin hinde kailangan yon.... panuorin muna ang sarile bago pakialamanan ang kontitusyon...

boypad

October 3rd, 2011, 10:53 AM

^^ He..he... madali lang ang solusyon. Ihanap natin ng mapa pangasawa na magaling at matalino (yun action woman). Siguro naman kahit papaano yun maging first lady niya pwedeng baguhin ang takbo ng utak ni PNoy ... :lol:

boypad

October 3rd, 2011, 11:08 AM

Citigroup says PHL economy to grow slower :ohno:

GMA News.tv
10/03/2011 | 04:44 PM

The Philippine economy will grow at a slower pace this year and next because of a host of factors foremost of which is fiscal underspending, according to a Citigroup report.

Weak demand from abroad, supply chain disruptions and the uncertainties brought by the US and European debt crisis will also influence the Philippine economy, the US-based investment bank said Monday.

Thus, it has lowered the gross domestic product (GDP) growth forecast to 3.7 percent from 3.9 percent this year and to 3.9 percent from 4.6 percent next year, Citigroup economist Jun Trinidad said in the bank’s latest Asia Macro and Strategy Outlook.

"We further revise our GDP forecasts to 3.7 percent in fiscal year 2011 and 3.9 percent in fiscal year 2012, on the back of the Global headwinds, coupled with the low second quarter GDP base on the back of supply disruption risk and weak electronics demand," Trinidad said.

Fiscal contraction in most developed economies could translate into slower spending in the second semester — a situation that bodes ill for the global trading environment, the economist pointed out.

What could save the day is domestic demand in emerging market economies in Asia that would enable intra-Asian demand to cushion downside export risk and prevent a repeat of the global trade crunch in the fourth quarter of 2008, Trinidad explained.

The third quarter was the worst period for exports and imports as supply disruptions and weak demand already leveled export growth in the second quarter, Trinidad added

Citigroup sees government consumption expanding by 5.6 percent year-on-year in the second half and after contracting by 6 percent in the first half, the economist said.

A fiscal spending surprise

"Upside to GDP growth in second half of the year would come mainly from fiscal spending as the infrastructure budget is decompressed, alongside increased welfare spending led by conditional cash transfers," he added.

A caveat though in Citigroup's sober baseline GDP scenario would be a fiscal spending surprise should the Aquino government decide to spend all the P189- billion unused portion of the non-interest program expenditures — as of August — for the remaining four months, according to the Citigroup report.

"Higher-than-expected fiscal expenditures for the rest of the year would also shield consumer sentiment from the global fiscal storm, its job erosion threat and financial tightening effects," Trinidad explained.

National Statistical Coordination Board (NSCB) data showed the country's GDP growth eased to 3.4 percent in the second quarter from 8.9 percent a year earlier.

Citigroup also lowered its inflation forecast to 4.3 percent from 4.5 percent this year and to 3.5 percent from 3.7 percent next year. Consumer prices eased to a four-month low of 4.3 percent in August from 4.6 percent in July.

"Despite monetary and fiscal flexibility, consumption is dependent on sentiment holding up as inflation expectations recede," Trinidad said.

Citigroup also expects the peso dropping to 44:$1 from previous expectations of rising to 42:$1 as investors focus on the risk of unwinding that would likely intensify should the Euro debt crisis lead to defaults, and possible restructuring.

"This leads us to shift our previous strong peso year-end outlook to a strong US dollar view; we now see the year-end peso level as closer to P44," Trinidad said. — VS, GMA

http://www.gmanews.tv/story/234139/business/citigroup-says-phl-economy-to-grow-slower

s40

October 3rd, 2011, 11:09 AM

Kintoy

October 3rd, 2011, 11:11 AM

Arroyo's policies on infrastructure development was sound as well.

how is selling out the claim to the Spratlys for kickbacks from the NBN-ZTE and the Northrail deals sound?

rain34

October 3rd, 2011, 11:47 AM

Gov’t to open more industries to foreigners (http://business.inquirer.net/22579/gov%e2%80%99t-to-open-more-industries-to-foreigners)
Plans to shorten foreign investment negative list

By: Abigail L. Ho
Philippine Daily Inquirer 12:48 am | Monday, October 3rd, 2011

The government has committed to allow foreigners to invest in more industries and practice more professions locally by reducing the number of items in the Foreign Investment Negative List.

At the mid-year economic briefing last Friday, Economic Planning Secretary Cayetano Paderanga said this was one of the things that the government would be working on to make the local investment environment more attractive to foreign investors.

“Our aim is to make the Foreign Investment Negative List as short as possible. Those that will remain on the list are those that are covered by constitutional restrictions,” Paderanga said.

National Competitiveness Council co-chairman Guillermo Luz agreed with Paderanga’s statement, saying a shorter negative list would help jack up the country’s competitiveness.

However, he warned against tweaking the Constitution to allow greater foreign participation in industries and employment, saying this was not the right time to do so.

“We’ll just try to make the list as practicable as possible,” he said.

American Chamber of Commerce of the Philippines senior adviser John Forbes further challenged the government officials on the panel, saying the negative list has not had changes in the past 20 years.

Finance Secretary Cesar Purisima countered this by saying that there had been some changes over the past years, including in mining, which allowed 100-percent foreign ownership, and retail trade, which allowed full foreign ownership at a minimum paid-up capital of $2.5 million.

“Upwards of 90 percent of economic activities are open to foreigners. You keep looking at the ‘empty’ portion rather than the ‘full’ portion. The government does have to still work on this, but the list shouldn’t stop foreigners from investing,” Purisima said.

Under the negative list, industries that did not allow any foreign ownership included mass media (except recording), retail trade enterprises with a paid-up capital of less than $2.5 million, cooperatives, private security agencies, small-scale mining, cockpits, firecrackers and pyrotechnics, and marine resource utilization in archipelagic waters, territorial seas, and exclusive economic zones.

The list also limited foreign ownership to 20 percent in private radio communications networks; 25 percent in private recruitment for both local and overseas employment, construction of defense-related structures, and repair of locally funded public works, except infrastructure or development projects covered by Republic Act No. 7718 and foreign-funded and foreign-assisted projects that undergo international competitive bidding; and 30 percent in advertising.

mwg12a

October 3rd, 2011, 11:59 AM

^^ In light to these, Would anybody happen to know if foreign trained and foreign medical doctors are now allowed to practice in the Philippines and even set up it's own private clinic. I once heard that Asian Hospital allows foreign medical practitoners to perform surgery in their facility. How about the rest of the Philippines?

s40

October 3rd, 2011, 12:01 PM

amigo32

October 3rd, 2011, 12:04 PM

maganda kasi pakinggan:D

dancethingy

October 3rd, 2011, 01:12 PM

how is selling out the claim to the Spratlys for kickbacks from the NBN-ZTE and the Northrail deals sound?

Was there an actualy conviction that came out of these allegations?? Until there is one, the whole thing was just a circus. Either way, Northrail still needs to be rehabed and expaned and the needs that led to an NBN-ZTE contract still exists.

wheel of steel

October 3rd, 2011, 01:28 PM

Was there an actualy conviction that came out of these allegations?? Until there is one, the whole thing was just a circus. Either way, Northrail still needs to be rehabed and expaned and the needs that led to an NBN-ZTE contract still exists.

Tameme na c Drilon, paano kaya nya nasabing corruption tainted ang Northrail sa panahon ni PGMA...:lol::lol: Ni hinde nga nya magawang mag comment nung nerenegotiate ni Mar Roxas ang Northraill.

And besides, 1 month na ata ang lumipas, wala pang balita tungkol sa renegotiation ng Northrail. :ohno::ohno::ohno::ohno:

wheel of steel

October 3rd, 2011, 01:29 PM

gawin nalang, mag propose na sa congress, pag botohan na, pag debatehan na, asaan na ang working draft ng legislation or executive order na pasok sa constitution???? asan na ang mga draft niyan ng ma quality check na?

panay kwento at press release nanaman, anak ng.........kwento dito kwento duon... forum dito forum duon....... net result wala! puro planning...... ilang pages na dito sa thread na eto ang puno ng words na planning, proposal, idea, under consultation, under review.... tinamaan ng magaling. Si Purisima galing pa naman private sector yan tsk tsk tsk

Time elapsed 21% / Resulta 0%? Pambihirang report card yan:lol::lol:

Ang tawag dyan Mr. S26, BAGSAK NA GRADO!:)

Kintoy

October 3rd, 2011, 02:02 PM

bitoy

October 3rd, 2011, 02:41 PM

ang kailangan ng Northrail, stem-cell therapy sa Germany :lol:

:lol: pera-phy

kenken94

October 3rd, 2011, 02:44 PM

He had the chance AND HE BLEW IT UP AGAIN!!!...nakapagtataka...pabor na nga mga allies nya in congress and in senate, pabor na rin and mga tao businessmen at economist, and mind you these are not ordinary people, these are seasoned politicians, economist and statesmen that favor and pushing for charter change WHY CANT HE LISTEN TO THEM??...what is happening now is PNOY HIMSELF IS BECOMING THE THORN AND OBSTRUCTION TO OUR ECONOMIC TAKEOFF!!!
:bash::bash::bash:

Aquino firm on stand vs Charter Change (http://newsinfo.inquirer.net/69659/aquino-firm-on-stand-vs-cha-cha)
By Christine O. Avendaño
Philippine Daily Inquirer
12:07 pm | Monday, October 3rd, 2011
1 share10 9

MANILA, Philippines—President Benigno Aquino III on Monday thumbed down a current initiative by his allies in Congress to amend the 1987 Constitution, particularly economic provisions in the basic law of the land.

“I don’t agree that it is a solution to grow the economy,” the President told reporters in Malacañang after he led oath-taking rites of officials that included newly appointed Philippine National Police Director General Nicanor Bartolome.

Mr. Aquino made it clear that his position on Charter change has been “public for such a long time,” as he noted that for so long he had opposed moves to amend the Constitution through a constituent assembly. He also said he did not agree to amend the Constitution just for its economic provisions.

But with Senate and House leaders now dangling to amend the Constitution through a bicameral constituent assembly—perceived to be less contentious than a constituent assembly mode—Mr. Aquino remained firm on his stand against Cha-cha at this time.

He acknowledged that this proposal had been discussed “in passing” by Senate President Juan Ponce Enrile.

“We are in a democratic country, at least all these ideas should be explored. But if I’m going to be asked my personal opinion, I don’t think Cha-cha is a necessary move at this point in time,” Mr. Aquino said.

Aquino: Cha-cha not a solution to boost economy :ohno:

SunStar Manila
Monday, October 3, 2011

MANILA (Updated 12:40 p.m.) -- President Benigno Aquino III maintained Monday his position not to amend the economic provisions of the Constitution noting that it is not the only way to improve the economy.

“I do not agree that it is the solution to boost our economy,” Aquino said in an interview with reporters in Malacañang.

Citing the market in China, the President said the economic advantage of investing in a country is important rather than the political system.

“We know that China has huge market and that is the reason why they attract many investors. However, as their labor cost starts to rise, investors have started to transfer businesses elsewhere,” he said.

Aquino said he is willing to listen to his allies in Congress about their positions regarding the Charter change but his stand will stay for now.

Earlier, Senator Edgardo Angara said amending economic provisions in the 1987 Constitution that restrict foreign ownership in Philippine businesses should be made a priority.

Angara said that under the present setup, the cap on foreign ownership "either drives off investors or pushes them to use dummies."

Senator Franklin Drilon, whom Senate President Juan Ponce Enrile tasked with preparing a position paper on Charter change, said the time is ripe to amend restrictive economic provisions in the Constitution.

"To me, more than any other time, this is the best time to propose amendments to the Constitution. The trust rating of the President is very high. He can exercise his political leadership," Drilon said.

“We are in a democratic country. At least all of these ideas should be explored. But if I’m asked my personal opinion, I don’t think Cha-cha is a necessary move at this point in time,” Aquino said.

He added that he was one of those who strongly opposed the Constitutional assembly before, thus his position on Cha-cha will still be the same. (Jill Beltran/Sunnex)

http://www.sunstar.com.ph/manila/local-news/2011/10/03/aquino-cha-cha-not-solution-boost-economy-182852

He should be explained for a fact, that many of our bureaucracies that delay the process of putting up business in this country are rooted from the very constitution of his mother. And that 'economic' policies of the country should not be embedded in the constitution, this reactionary constitution has to be changed, not later but now while we are still quite politically stable. Changing economic policies should be as easy as enacting a law. Not as stringent and time consuming as amending the constitution over and over again to respond to very fast and steep changes in the world economy.

I do not understand how we will ever be able to zoom like a tiger if we cannot quickly respond to changes in the global economy? This talkative constitution greatly slows our flexibility to react properly to major crises or slumps in other regions. :ohno:

Eastern Dragon

October 3rd, 2011, 04:08 PM

He should be explained for a fact, that many of our bureaucracies that delay the process of putting up business in this country are rooted from the very constitution of his mother. And that 'economic' policies of the country should not be embedded in the constitution, this reactionary constitution has to be changed, not later but now while we are still quite politically stable. Changing economic policies should be as easy as enacting a law. Not as stringent and time consuming as amending the constitution over and over again to respond to very fast and steep changes in the world economy.

I do not understand how we will ever be able to zoom like a tiger if we cannot quickly respond to changes in the global economy? This talkative constitution greatly slows our flexibility to react properly to major crises or slumps in other regions. :ohno:

:nuts::lol: dear lord, :lol::lol::lol:

you do know that economic policies stem from the fundamental laws of the land right.

communist economic thought stem from marxism etc. (or whatever they call themselves now anyway).

the economies of the US and much of europe are tied to the very social and legal fabric that they agreed to, not something you are imagining. :lol::lol:

seriously, changing economic policies should be as easy as enacting a law? dude, where the heck do you get these ideas?

Eastern Dragon

October 3rd, 2011, 04:14 PM

cha cha? kailangan ba yun? hehe.. para sakin hinde kailangan yon.... panuorin muna ang sarile bago pakialamanan ang kontitusyon...

:cheers::cheers::cheers:

a sign of a wise man. you conveyed a substantial message with so few words. :cheers:

boypad

October 3rd, 2011, 04:48 PM

Estimated damages due to ‘Pedring’ reach P8.8 billion—NDRRMC :uh:

By Matikas Santos
INQUIRER.net
7:37 pm | Monday, October 3rd, 2011

MANILA, Philippines- Estimated damages due to typhoon ‘Pedring’ has reached P8.8 billion according to the National Disaster Risk Reduction and Management Council (NDRRMC).

The agriculture sector suffered P7.554 billion in damages while damages to infrastructure have reached P1.249 billion, the NDRRMC said.

Region III or Central Luzon (Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales) suffered the greatest amount of damages which reached P7.091 billion.

Region V or Bicol Region (Albay, Camarines Norte, Camarines Sur, Catanduanes, Masbate, Sorsogon) incurred P537.68 million worth of damages while the Cordillera Administrative Region (Abra, Apayao, Benguet, Ifugao, Kalinga, Mountain Province) incurred P457.037 million worth of damages.

Meanwhile, Region II or Cagayan Valley (Batanes, Cagayan, Isabela, Nueva Vizcaya, Quirino) suffered P421.3 million worth in damages, Region IV-A (Cavite, Laguna, Batangas, Rizal, Quezon) suffered P170.9 million in damages, the National Capital Region suffered P104.553 million in damages, and Region I or Ilocos Region (Ilocos Norte, Ilocos Sur, La Union, Pangasinan) suffered P20.459 million in damages.

The number of totally damaged houses due to Pedring has reached 6,125 and partially damaged houses at 36,907.

A total of 68 bridges and roads were rendered impassable, 31 of which are in Region II.

A number of dikes and creeks have collapsed in Pampanga: Barangay (village) Mandili Dike, Barangay Barangca Dike in Candaba, Barangay Gatud and Dampe earthdike in Floridablanca, Porac River and River dike in Sto. Cristo, San Agustin Sapang Maragol in Guagua earthdike, among others.

At least P64 million worth of relief assistance from the Department of Social Welfare and Development, Local Government Units, Department of Health and Non-Government Organizations, was released to the various affected regions, according to the NDRRMC.

http://newsinfo.inquirer.net/69785/estimated-damages-due-to-%E2%80%98pedring%E2%80%99-reach-p8-8-billion%E2%80%94ndrrmc

RealFlip

October 3rd, 2011, 09:15 PM

Para mo na ring sinabi na wala pang palpak kahit makupad ng admin na to ah!
Mas maigi kung meron nang nagawa! Kung gusto mo malaman ang progress ng mga promises niya, heto:

punta ka dito (http://www.abs-cbnnews.com/aquino-promises)

PNoy makes everything sound good, it's not until you see the details that you realize you're screwed. :bash:

It shows that he is weak in solutions and strong in delusions. Tsk tsk tsk

Well, what can we expect from a pampered Oligarch?

InfinitiFX45

October 3rd, 2011, 10:51 PM

Bank of Tokyo Mitsubishi plans to invest in PPP projects :banana::cheers:

by Ma. Elisa P. Osorio (The Philippine Star) Updated October 04, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=733561

MANILA, Philippines - The Bank of Tokyo Mitsubishi UFJ Ltd. wants to spend a portion of the $5-billion investment fund to various Philippine projects including the Public-Private-Partnership (PPP) program.

In an interview with reporters, Board of Investments (BOI) managing head Cristino L. Panlilio said there is a “keen interest” in the Philippines and the plan of the Japanese bank is to spend a portion of the $5 billion to various local projects including the PPP.

Panlilio said this was manifested during the recent Japanese trip of President Aquino. However, he said it is unclear how much exactly the investment will be, what particular project and when the investment will come in.

Meanwhile, the Clark Development Corp. (CDC) has announced that they signed a Reservation Agreement and Term Sheet between a leading Japanese gas company and CDC also during the Japan trip.

In a statement, CDC president Felipe Antonio B. Remollo said Aquino witnessed the signing of an agreement between Ingasco and CDC which will pave the way for the establishment of a $50-million Air Separation Unit Facility.

Remollo said the project would involve the installation of mechanical and electrical equipment used for air separation such as cryogenic distillation column, column, multi stage air compressors, pumps, electrical substation, cooling towers, and cryogenic storage tanks, among others.

Once fully operational, Remollo said Ingasco will supply nitrogen, argon, and oxygen to big ticket Clark firms like Texas Instruments (TI) and Phoenix Semiconductor Philippines Corp. (PSPC), among other electronic and semiconductor companies.

Remollo said the gas to be supplied by Ingasco will be used by TI and PSPC in the manufacture of electronic chips and other related semiconductor products.

The facility will have an output capacity of 10,100 Nm3 per hour for the production of liquid oxygen (LOX), liquid nitrogen (LIN), and liquid argon (LAR), including major process areas in filtration, air compression, pre-purification, liquefaction and separation/distillation, storage and product loading.

Ingasco is 70-percent owned by its mother company Taiyo Nippon Sanso Corp. (TNSC), a major supplier of industrial gases such as oxygen, nitrogen and argon to a wide range of industries, including the steel, chemical, electronics, automobile, construction, shipbuilding, and food industries.

InfinitiFX45

October 3rd, 2011, 11:06 PM

Japanese Bank Allocates Portion $5-B Of Fund For PPP Projects :banana::cheers:

by BERNIE CAHILES-MAGKILAT October 4, 2011, 12:58am

http://www.mb.com.ph/articles/336543/japanese-bank-allocates-portion-5b-of-fund-for-ppp-projects

MANILA, Philipines — Bank of Tokyo-Mitsubishi UFJ, Ltd., one of Japan’s premier bank and one of the world’s largest in terms of assets, has committed to invest a portion of its $5 billion investment portfolio for the Philippines either through private placements or via the government’s Public-Private Partnership (PPP) projects.

Board of Investments managing head Cristino L. Panlilio told reporters that the bank, one of the biggest in Japan, has expressed interest in direct investments in the country.

“They would like to promote direct investments in the Philippines,” he said. The Japanese bank did not, however, signify how much they are willing to invest here.

Panlilio said that Bank of Tokyo officials were among those who met with President Aquino during his trip to Japan recently.

The bank’s Manila branch caters to corporate accounts and offers full banking services.

During the trip, President Aquino reportedly secured $1.4 billion worth of investment commitments from various Japanese companies.

Toyota Motor Corp. has committed to investment $26 million for the assembly of the next generation passenger car. The Japanese carmaker also committed to infuse an additional $10 million for Toyota Autoparts Philippines Inc., its parts manufacturing arm in the country.

Ichijo Company Ltd., which produces pre-fabricated wooden houses, is expanding its existing facility in Cavite where it is employing 11,7000 workers.

Panlilio said that 80 percent of the houses of Ichijo are assembled at its Cavite plant.

Orix of Japan has also tied up with Federal Land of First Metro Group for the establishment of Grand Hyatt Hotel in Fort Bonifacio. The 60-story hotel building will be the tallest building in Global City. It will be a 6-star hotel, Panlilio said. Another Japanese company has tied up with Ingasco for the supply of acetylene requirements of Texas Instruments and Phoenix Semiconductor Philippines Corp. in Clark Development Corp.

mwg12a

October 3rd, 2011, 11:22 PM

Tameme na c Drilon, paano kaya nya nasabing corruption tainted ang Northrail sa panahon ni PGMA...:lol::lol: Ni hinde nga nya magawang mag comment nung nerenegotiate ni Mar Roxas ang Northraill.

And besides, 1 month na ata ang lumipas, wala pang balita tungkol sa renegotiation ng Northrail. :ohno::ohno::ohno::ohno:

Atleast ang maganda nuon, napatunayan na okay naman ang contract, yuon ang importante, ngayon, dapat na talagang ipagpatuloy, yan naman ang purpose ng pag review ng mga anomalous contracts na tinuturo pa nuong nakaupo pa si Arroyo, tignan mo sa time pa na yan halted na ang project na yan at ni-rereview, taon din ang binilang. Nakakainis lang at na delay pero I think it really worth if they contracts are reviewed atleast babalik ang trust ng tao sa gobierno kung ang mga anomaly na claro at kung dumating man na may problema talaga, gaya ng military man na nakulong kahit 2 taon lang proof na kahit paano at maliit, kaya pa din linisin ang gobyerno ng filipinas, magandang impression ang makukuha ng mga filipino sa mga foreign investors kung maisasaayos ang systema ng bansa.

InfinitiFX45

October 3rd, 2011, 11:38 PM

Remittances to top $20b :banana::cheers:

by Roderick T. dela Cruz

http://www.manilastandardtoday.com/insideBusiness.htm?f=/2011/october/3/business1.isx&d=2011/october/3

Remittances are growing this year at a pace that will bring it to a new record high of over $20 billion despite the global economic problems, Bangko Sentral Governor Amando Tetangco Jr. said over the weekend.

“This year, the actual growth of remittances for the first seven months was 6.3 percent. The projection for the whole year is 7 percent,” said Tetangco.

He said the $20.1-billion remittance forecast for 2011 would eclipse the $18.7 billion recorded in 2010, despite the impact of the global debt problems hounding both the United States and Europe.

He said remittances had contributed to a strong external position of the Philippines, in terms of surpluses in balance of payments and international reserves.

“For the first 8 months of 2011, our balance of payments posted a surplus of $9 billion, while our reserves rose to an all-time high $76 billion, larger than the country’s total external debt of $60.9 billion and much better than our rating peers,” he said.

Tetangco said the buildup of reserves provided a buffer against external shocks brought by uncertainties in the global economy.

“Indeed, our healthy external payments position has been a constant source of strength for the Philippine economy and a credit positive in credit rating agencies assessment,” he said.

Bangko Sentral Deputy Governor Diwa Guinigundo earlier said remittances from Filipinos overseas proved to be resilient despite external factors in the past. He said while a weaker growth in the global economy could affect the remittance flows from other countries, the figure could still show positive growth.

“Remember that the International Monetary Fund downgraded the growth prospects in their latest edition of world economic outlook, which could also impinge on remittances. Remittances would also be affected by the weaknesses in global economic activity,” he said.

“But in the past, we have seen how Filipinos would find alternative employment even in the mid of war. In 1991, 2001 and 2007, there was global financial crisis and people were saying that remittances would acually decline by as much as 30 percent, but it didn’t. It still went up by a fraction and posted a positive growth,” said Guinigundo.

The Bangko Sentral expects remittances coursed through banks to rise 7 percent to over $20 billion this year. Last year, remittances also rose 8.1 percent to hit $18.763 billion, despite various external challenges.

“If we keep to that resiliency of our overseas workers, then it could defy the trend and instead show further gains in terms of remittances,” said Guinigundo.

InfinitiFX45

October 3rd, 2011, 11:56 PM

Citigroup says PHL economy to grow slower :ohno:

by VS, GMA News 10/03/2011 | 04:44 PM

http://www.gmanews.tv/story/234139/business/citigroup-says-phl-economy-to-grow-slower

The Philippine economy will grow at a slower pace this year and next because of a host of factors foremost of which is fiscal underspending, according to a Citigroup report.

Weak demand from abroad, supply chain disruptions and the uncertainties brought by the US and European debt crisis will also influence the Philippine economy, the US-based investment bank said Monday.

Thus, it has lowered the gross domestic product (GDP) growth forecast to 3.7 percent from 3.9 percent this year and to 3.9 percent from 4.6 percent next year, Citigroup economist Jun Trinidad said in the bank’s latest Asia Macro and Strategy Outlook.

"We further revise our GDP forecasts to 3.7 percent in fiscal year 2011 and 3.9 percent in fiscal year 2012, on the back of the Global headwinds, coupled with the low second quarter GDP base on the back of supply disruption risk and weak electronics demand," Trinidad said.

Fiscal contraction in most developed economies could translate into slower spending in the second semester — a situation that bodes ill for the global trading environment, the economist pointed out.

What could save the day is domestic demand in emerging market economies in Asia that would enable intra-Asian demand to cushion downside export risk and prevent a repeat of the global trade crunch in the fourth quarter of 2008, Trinidad explained.

The third quarter was the worst period for exports and imports as supply disruptions and weak demand already leveled export growth in the second quarter, Trinidad added

Citigroup sees government consumption expanding by 5.6 percent year-on-year in the second half and after contracting by 6 percent in the first half, the economist said.

A fiscal spending surprise

"Upside to GDP growth in second half of the year would come mainly from fiscal spending as the infrastructure budget is decompressed, alongside increased welfare spending led by conditional cash transfers," he added.

A caveat though in Citigroup's sober baseline GDP scenario would be a fiscal spending surprise should the Aquino government decide to spend all the P189- billion unused portion of the non-interest program expenditures — as of August — for the remaining four months, according to the Citigroup report.

"Higher-than-expected fiscal expenditures for the rest of the year would also shield consumer sentiment from the global fiscal storm, its job erosion threat and financial tightening effects," Trinidad explained.

National Statistical Coordination Board (NSCB) data showed the country's GDP growth eased to 3.4 percent in the second quarter from 8.9 percent a year earlier.

Citigroup also lowered its inflation forecast to 4.3 percent from 4.5 percent this year and to 3.5 percent from 3.7 percent next year. Consumer prices eased to a four-month low of 4.3 percent in August from 4.6 percent in July.

"Despite monetary and fiscal flexibility, consumption is dependent on sentiment holding up as inflation expectations recede," Trinidad said.

Citigroup also expects the peso dropping to 44:$1 from previous expectations of rising to 42:$1 as investors focus on the risk of unwinding that would likely intensify should the Euro debt crisis lead to defaults, and possible restructuring.

"This leads us to shift our previous strong peso year-end outlook to a strong US dollar view; we now see the year-end peso level as closer to P44," Trinidad said.

Eastern Dragon

October 4th, 2011, 03:18 AM

good news and bad news for us. generally ok, all things considered.

it would be good if contracts are sorted out soon especially for the big ticket ppp projects to get infra projects going.

InfinitiFX45

October 4th, 2011, 03:38 AM

PH BPO industry highlighted in Geneva Unctad meet :banana::cheers:

by Estrella Torres, BusinessMirror Posted at 10/04/2011 7:27 AM

http://www.abs-cbnnews.com/business/10/03/11/ph-bpo-industry-highlighted-geneva-unctad-meet

MANILA, Philippines - The Philippines’ booming business-process outsourcing (BPO), currently ranked second in the world with revenues reaching $11 billion, was highlighted at the recent 58th session of the Trade and Development Board of the United Nations Conference on Trade and Development (Unctad) in Geneva.

The meeting in Geneva examined the implications of nonequity modes of international production, which includes services, outsourcing, contract manufacturing, contract farming, licensing and franchising.

Trade Undersecretary for Industry and Investments Cristino Panlilio said the Philippines’ cost effectiveness, excellent communications infrastructure, large talent pool, strong public-private partnerships, and relatively low risk perception are among the factors being considered by foreign investors.

The country is now the world’s second destination of BPO services next to India. Last year, revenues from the BPO and Information Technology industry reached $9 billion and provided jobs to over 530,000 employees in financial services, human resources, IT and software development, management services, engineering design, animation and other sectors.

Representing the Asian group, Ambassador Evan P. Garcia, Philippine permanent representative to the UN and other International Organizations in Geneva, said that three countries—India, the Philippines and China—accounted for approximately 65% of global export revenues related to IT-BPO services in 2009. In terms of licensing activity directed at developing markets, the region comprised almost 80% of the total, measured in terms of royalty payments in 2008.

Garcia said based on the 2011 World Investment Report, nonequity modes (NEMs) of production contribute to employment, capacity building, technology diffusion, exports and the overall gross domestic product of host countries including developing economies. At the same time, the report also identified social and environmental concerns over NEMs.

The NEMs category includes export and contractual agreements. He encouraged Unctad to continue its research to enable developing countries to maximize the benefits arising from these NEMs of international production, minimize risks and address other negative impacts associated with the integration of domestic firms into the NEMs networks of transnational corporations.

Panlilio said the outsourcing industry in the Philippines are mostly voice BPOs, non-voice BPO in finance, accounting, medical transcription and other areas.

The trade official said the BPO industry now accounts for 60% of the country’s total services exports.

Panlilio said the industry is expected to generate $11 billion in terms of services export revenues and provide jobs to 640,000 people.

If challenges are addressed, Panlilio said the IT-BPO road map forecasts will reach $25 billion in revenues and employ 1.3 million people by year 2016.

Askal82

October 4th, 2011, 03:50 AM

mwg12a

October 4th, 2011, 06:32 AM

^^ I see that also. The EU and the US economic crisis isn't helping either. What good thing about it is that the growth is just slow not a plunge to a destruction. I see that growth will show some sign of life as the holiday season is approaching along with the increased revenue from OFW remittances. It would not hurt for the government to start it's infrastructure project already and I hope they keep up that promise to initiate these since they recognized the importance of it as well.

Eastern Dragon

October 4th, 2011, 07:44 AM

Kintoy

October 4th, 2011, 08:06 AM

:nuts::lol: dear lord, :lol::lol::lol:

you do know that economic policies stem from the fundamental laws of the land right.

communist economic thought stem from marxism etc. (or whatever they call themselves now anyway).

the economies of the US and much of europe are tied to the very social and legal fabric that they agreed to, not something you are imagining. :lol::lol:

seriously, changing economic policies should be as easy as enacting a law? dude, where the heck do you get these ideas?

:applause::applause::applause:

anone

October 4th, 2011, 08:55 AM

Eastern Dragon

October 4th, 2011, 09:19 AM

naku bakit pinost mo yang negative na balita. :D lagot sa isang foRumeR dito. :D :lol:

:lol::lol::lol:, fail. trying to raise an issue na wala naman nagreact. besides, i think that is the second time that news has been posted.

people here are cognizant of that fact. from citigroup, which is a respected firm also, kailangan bang ikabahala ang news na yan?

it is their analysis which should serve as a wake up call for all of us.

you are desperately trying to make a mountain out of a molehill. :nuts:

coffeeworld

October 4th, 2011, 09:25 AM

bitoy

October 4th, 2011, 09:26 AM

:lol::lol::lol:, fail. trying to raise an issue na wala naman nagreact. besides, i think that is the second time that news has been posted.

people here are cognizant of that fact. from citigroup, which is a respected firm also, kailangan bang ikabahala ang news na yan?

it is their analysis which should serve as a wake up call for all of us.

you are desperately trying to make a mountain out of a molehill. :nuts:

Ang gusto nila kasi ay yung corruption overspending that will make the economy sink faster. :lol:

Eastern Dragon

October 4th, 2011, 09:27 AM

:applause::applause::applause:

dapat kasi nag iisip muna ang ibang tao dito before mag post. :ohno::ohno:

changing economic policies should be as easy as enacting a law?

and therefor as easy as repealing one.

yep, enact a protectionist law now, repeal it 2 years later, re enact again, repeal again. :ohno::ohno:

to use an example, kaya nga companies were so hesitant to invest in our mining industry was because of the flip flopping policy and interpretation ng SC natin regarding that industry.

xxxriainxxx

October 4th, 2011, 09:58 AM

Eastern Dragon

October 4th, 2011, 10:15 AM

MINDANAO WILL SAVE LUZON...pano ba naman nyan sira na mga pananim nyo..dahil sa bagyo...Hahay salamat Walang bagyo ang mindanao........ KAPWA talaga ..HAYAHAY:banana::lol::lol:

dude, this post is a bit disrespectful. it seems that you are gloating and even happy about the misfortune of our brothers in luzon.

as a half mindanaon who suffered under ondoy also, i just find this post so disrespectful man.

Eastern Dragon

October 4th, 2011, 10:17 AM

I agree. Pol Sci 101. Which hindi ko pinag-aralan pero nagbasa ako ng The Communist Manifesto bata pa lang ako. :)

wala ka naman ata natunan sa manifesto na yun, kasi, we all know that you are liberal party supporter in real life.

kunwari ka lang maka gibo. :lol::lol::lol:

just joking.

xxxriainxxx

October 4th, 2011, 10:41 AM

wala ka naman ata natunan sa manifesto na yun, kasi, we all know that you are liberal party supporter in real life.

kunwari ka lang maka gibo. :lol::lol::lol:

just joking.

:D Nabore ako sa librong yun. :D I wondered why it was in my late gramps library.

Parchie

October 4th, 2011, 11:00 AM

MINDANAO WILL SAVE LUZON...pano ba naman nyan sira na mga pananim nyo..dahil sa bagyo...Hahay salamat Walang bagyo ang mindanao........ KAPWA talaga ..HAYAHAY:banana::lol::lol:

Ayaw sad ana uy! While we down here are spared from storms, it's a pity seeing the tv screens field with water all around! We should help those hardly hit. Compassion breeds understanding. Maybe in time they will understand how it feels to be left alone to survive without government help. Just maybe mawala na yang burit nila!

OtAkAw

October 4th, 2011, 12:20 PM

MINDANAO WILL SAVE LUZON...pano ba naman nyan sira na mga pananim nyo..dahil sa bagyo...Hahay salamat Walang bagyo ang mindanao........ KAPWA talaga ..HAYAHAY:banana::lol::lol:

And how is Mindanao supposed to "save" Luzon? I am from Luzon and I'm not very happy with your gloating. Will you be happy if I post something like this:

":lol::lol: Hay salamat walang muslim terrorist sa Luzon!!! :banana::lol::lol:"

We are but one nation. I don't understand why such sentiments form.

Parchie

October 4th, 2011, 12:43 PM

And how is Mindanao supposed to "save" Luzon? I am from Luzon and I'm not very happy with your gloating. Will you be happy if I post something like this:

":lol::lol: Hay salamat walang muslim terrorist sa Luzon!!! :banana::lol::lol:"

We are but one nation. I don't understand why such sentiments form.

If you tried understanding how the southern provinces feel about equitable sharing of progress, you should understand why that guy vented out that way. As I said, we all must be compassionate about the bad things that happened.

Perhaps you can imagine how harder it will be if storms hit us down here. Imagine the hardships, even more than what people in Luzon are experiencing now. Why? Because we don't have the equipment and the resources, the capability to recover faster than those of you in Luzon can.

So let him be and understand the circumstances behind his acts. All we need is to help the ones in need, hoping in the future, those who got blessed with our help will in return be kind enough share equitably the nations' progress! Peace!

Kintoy

October 4th, 2011, 12:48 PM

anone

October 4th, 2011, 02:31 PM

pansinin ko ba sila??? .......hmmmmm......huwag na lang. :D :lol: :rofl:

mwg12a

October 4th, 2011, 06:13 PM

If you tried understanding how the southern provinces feel about equitable sharing of progress, you should understand why that guy vented out that way. As I said, we all must be compassionate about the bad things that happened.

Perhaps you can imagine how harder it will be if storms hit us down here. Imagine the hardships, even more than what people in Luzon are experiencing now. Why? Because we don't have the equipment and the resources, the capability to recover faster than those of you in Luzon can.

So let him be and understand the circumstances behind his acts. All we need is to help the ones in need, hoping in the future, those who got blessed with our help will in return be kind enough share equitably the nations' progress! Peace!

Both sides are equally as guilty in pointing fingers. The bottom line is that, the country has always have corrupt government as far as we all can remember, the progress in Luzon especifically in Greater Manila area was constituted by the development influenced by private sectors along with foreign and local investors, the previous governmentS can not always dictate where private corporations wants to build their empire. Somehow, there were attempts to help the rest of the country by an international airport in mactan by Marcoses, hydro and geothermal plants and all, somehow it is only now that Cebu has been benefitting from that international airport. Whatever lack of help being felt in most country side are also felt by a majority of Luzon Provinces, everything is pretty much backward in Laguna and Batangas down to Bicol provinces who all lacks amenities being experience in places like Mindanao perhaps. See how foreign corporation now are noticing Cebu? The progress in your city is pretty much unstoppable, if you can see the pattern? It's pretty much how Greater Manila started in the olden days, it's just that the progress is easier to happen in most Capital cities due to the proximity of most government offices where private sectors usually deal with first when they start their own businesses.

I do understand the plight in the rest of the country, I am sympathetic about it but I must say it's not as remote as you think it is in the capital city, it just happen that the corrupt officials happen to be reside mostly in this area... Progress comes with a price it seems like in the country.

Nabartek

October 4th, 2011, 06:32 PM

^^ Add to that what is happening in many countrysides, be in in Luzon, Visayas, or Mindanao.

NPAs and MILF are given.
But then, one has to also think the poor infrastructure - buildings, utilities, etc on the countryside. Also, local political warlords that seem to be prevalent in the Philippines from Cagayan province to Maguindanao.

How can you convince local and foreign businessmen if the climate of the country is like that? Businesses worry being harassed not only by NPAs but local politicians as well?

We investment and development? Solve these problems first. If local and national politicians haven't been warmongering, then investment will not be limited to big cities like Manila,m Cebu and Davao but extended to many places in the Philippines

InfinitiFX45

October 4th, 2011, 07:14 PM

US think-tank downgrades Phl growth forecast :ohno:

by Lawrence Agcaoili (The Philippine Star) Updated October 05, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=733912

MANILA, Philippines - New York-based think-tank Global Source Partners downgraded its economic growth forecasts for the Philippines this year and next year on the back of the perceived recession in the US as well as the sovereign debt crisis in Europe.

In a report, Global Source lowered its gross domestic product (GDP) growth forecast for the Philippines to 4.3 percent instead of 4.8 percent this year and to 4.8 percent instead of 5.5 percent next year as the global outlook has become infinitely gloomier over the past couple of months with the eurozone in a sovereign debt crisis and the US in what could be another recessionary environment.

“This puts a heavy cloud over the Philippine economy, whose fortunes are still in some ways tied to these countries, and opens up another period of uncertain growth,” the think-tank stressed.

Global Source pointed out that economic activity would be mainly consumption-driven as the country’s merchandise exports are likely to decline this year.

It added that government spending particularly on infrastructure would remain weak limiting the growth on investments.

However, the think-tank pointed out that the Philippines would remain resilient amid robust domestic demand, strong remittances from overseas Filipino workers (OFWs), heavy inflows for business process outsourcing (BPO), record high gross international reserves (GIR), and healthy banking sector.

“In the worst case where European debt troubles coupled by US weakness lead to another global financial crisis of the same scale as 2008, the Philippines could remain as resilient to recession and financial volatility as it had been back then,” it said.

The company cited the string of credit rating upgrades received by the Philippines from Standard and Poor’s, Moody’s Investor Service, and Fitch Ratings as well as the increase in world competitiveness ranking by 10 slots in the World Economic Forum’s latest Global Competitiveness report.

Global Source said the public private partnership (PPP) program of the Aquino administration would help boost domestic economic activity.

“Domestically, we could see a bump in economic activity if government actually succeeds in accelerating infrastructure spending as it hopes to, though the contribution of PPP to this will not likely be much,” the report said.

Latest data from the National Statistical Coordination Board (NSCB) showed that the country’s GDP growth eased to 3.4 percent in the second quarter of the year from 8.9 percent a year ago due to the surge in world oil prices, the prolonged weakness of the global economy, the political unrests in the Middle East and North African (MENA) region, and the disasters in Japan.

The GDP growth in the second quarter was also slower than the revised 4.6 percent booked in the first quarter of the year. This brought to four percent the GDP growth in the first half of the year from 8.7 percent in the first semester last year.

The Cabinet-level Development Budget Coordination Committee (DBCC) has set a GDP growth target of between seven percent and eight percent this year from 7.6 percent last year but now expects the GDP to expand by five percent to six percent this year.

The Philippines was on the verge of a recession in 2009 after its GDP growth slackened to 1.1 percent from 3.8 percent in 2008 due to the full impact of the global financial crisis.

Global Source also revised its inflation forecasts to five percent instead of 5.2 percent this year and to 4.4 percent instead of four percent next year based on 2006 prices.

It cited the drop in food prices, slow fuel price increases as well as the continued appreciation of the peso against the US dollar.

The think tank said the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) would keep interest rates steady until next year.

“With price risks waning, monetary authorities, who had been on tightening mode up to August, will likely hold off tweaking policy rates until the end of the year and perhaps even well into 2012 when inflation can be expected to fall easily within target,” Global Source said.

It added that the BSP would also keep the reserve requirement ratio untouched moving forward despite still strong credit expansion of 20.1 percent in July.

InfinitiFX45

October 4th, 2011, 07:29 PM

Philippines ranks zero in R&D :ohno::ohno::ohno:

Bottomline by MICHAEL ALAN HAMLIN October 5, 2011, 12:14am

http://www.mb.com.ph/articles/336659/philippines-ranks-zero-rd

MANILA, Philippines — The Philippines ranks at the very bottom – where it is tied with Bangladesh – of a recent survey of IT competitiveness in research and development (R&D). :ohno::ohno::ohno:

This means less R&D takes place in the Philippines (0.0) than in Indonesia (0.1), Sri Lanka (0.1), and Vietnam (0.2). The survey, IT Industry Competitiveness Index 2011, was developed and is administered by the Economist Intelligence Unit (EIU) for the Business Software Alliance (BSA).

In this year’s survey, the Philippines dropped a notch overall from 51 to 52 out of 66 countries. Singapore was number three in the world, up six places, after the United States and Finland. Taiwan was 13 and Japan 16. South Korea, which was down three places, and Hong Kong tied for 19, with Hong Kong rising two slots. Within Asea n, only Indonesia and Vietnam overall fared worse than the Philippines.

The results are surprising, but not. No one believes that no R&D takes place in the Philippines, although it is true that compared to its neighbors, the Philippine government invests precious little in fundamental research. But as I wrote last week about a company called Morphlabs, some impressive R&D does take place.

And although startup R&D is hard to come by, large local and multinational technology companies including Conti Temic, IMI, Lexmark, Nokia, and TrendMicro are doing it but have nothing to gain from sharing that information.

One of the reasons they have nothing to gain is that there are no brownie points for pointing to research being conducted in the Philippines. The popular myth associated with the Philippines is that it is a center for low-value voice services for the business process outsourcing industry (BPO). Its major IT-BPO competitors – India and China – seek to perpetuate this myth so that high-value, complex services come their way.

So far, they are being effective doing so with the result that there is no or little prestige to be associated with outsourcing value-driven, high-margin original R&D and other work to the Philippines. While these competitors have obvious strengths particularly in high-value IT services, they are successful in “positioning” the Philippines as a mature low-cost, low-value services center because the Philippines does little to communicate its positive attributes and capabilities.

That reluctance to communicate also explains the poor showing – at least in part – that the Philippines routinely turns in on competitiveness surveys. The BSA IT competitiveness survey results show that the Philippines is perceived as an IT backwater.

The reality is different, although the Philippines can certainly improve its IT competitiveness. In fact, the BSA survey, composed of six categories, does show some appreciation of the Philippines. For instance, it scores reasonably high in the business environment category (67.8), roughly par with Malaysia (69.6), but that is significantly lower than Thailand (78.8) even with all its problems.

As a result, even when the Philippines does okay in a competitiveness category, its scores offer no distinctiveness and no real competitive advantage compared to its neighbors. And aside from being at the bottom of the R&D category, there are other dangerous misconceptions about the Philippines, which do it a disservice. For example, despite the Philippines “vaunted” telecom infrastructure, it scores just 7.3 in that category.

One reason is low broadband Internet penetration, which is also expensive for consumers in the Philippines compared to consumers in Southeast Asia in general. That’s a huge irony, given the tight embrace with which Filipinos have engaged the Internet. Estimates vary, but about one third of Filipinos use the Internet. Because the culture is very social, almost every Internet user has a Facebook account.

Seventy-three percent are between 18 and 44 years old according to Social Bakers, which tracks the use of social media. So most Internet users are of productive age and have expendable income. This makes them valuable to brands like Smart, Hair Experts, Starbucks, Nescafé, and Red Horse, which have the largest number of Facebook fans among Philippine brand pages on the social network.

Auction sites and online retail malls are popular, too.

Does this suggest that perception of the Philippines’ IT competitiveness is simply flawed, or that Filipino users have taken to the Internet in significant numbers despite the hurdles? It’s probably both. Unfortunately, the not-so-hot perception of the Philippines’ IT competitiveness doesn’t end there. Surprisingly, the Philippines turned in a less-than-mediocre score for human capital (34.9), lower than that of Croatia (36.4).

The legal environment is mediocre at 50.5. That’s almost 10 points less than Malaysia, which scored 59.5, where the legal system is used by the party in power to undermine and jail opposition politicians. Support for IT industry development was also lukewarm at 51.0, roughly at par with Thailand (54.2) and significantly behind Malaysia (58.2) which competes aggressively with the Philippines for IT-BPO investment.

The BSA survey reveals some weaknesses. Some are real. Some we just allow to seem real.

InfinitiFX45

October 4th, 2011, 07:40 PM

NY-based think-tank downgrades PHL growth forecasts :ohno:

by PE, GMA News 10/05/2011 | 12:05 AM

http://www.gmanews.tv/story/234289/business/ny-based-think-tank-downgrades-phl-growth-forecasts

A New York-based think-tank has downgraded its 2011 and 2012 economic growth forecasts for the Philippines amid the perceived recession in the United States and the European sovereign debt crisis.

In its latest quarterly report titled “Philippines: Not Immune," think-tank Global Source lowered its gross domestic product (GDP) growth forecast for the Philippines to 4.3 percent from 4.8 percent this year, and to 4.8 percent from 5.5 percent in 2012, with the global outlook having become infinitely gloomier over the past couple of months.

“This puts a heavy cloud over the Philippine economy, whose fortunes are still in some ways tied to these countries, and opens up another period of uncertain growth," the think-tank said.

The Philippines’ economic activity will remain mainly consumption-driven with the country’s merchandise exports likely to decline this year, Global Source said.

Government spending on infrasructure will also remain weak, it added.

Global Source, however, noted that the Philippines will remain resilient amid robust domestic demand, strong remittances from migrant workers, heavy inflows from business process outsourcing, record-high gross international reserves, and a healthy banking sector.

“In the worst case where European debt troubles coupled by US weakness lead to another global financial crisis of the same scale as 2008, the Philippines could remain as resilient to recession and financial volatility as it had been back then," the company said.

InfinitiFX45

October 4th, 2011, 07:50 PM

World Bank keeps PHL growth forecast at 5% :ohno:

by VS, GMA News 07/06/2011 | 07:50 PM

http://www.gmanews.tv/story/225509/business/world-bank-keeps-phl-growth-forecast-at-5

The Philippine gross domestic product will grow by 5 percent this year and 5.4 percent next year, the World Bank said Wednesday, keeping its earlier forecast for the Southeast Asian nation’s P850-trillion economy.

The Washington-based multilateral lender’s figures are lower than the Philippine government’s 7-percent to 8-percent target range from 2011 to 2016.

However, the World Bank said in its Philippine Quarterly Update that the economy may grow better as the strong focus and early gains of the Aquino administration in tackling corruption and improving the investment climate could boost domestic investment.

The challenge now is sustaining the momentum of reforms to achieve inclusive or broad-based growth that benefits the poor, the bank said.

"While business confidence has dampened in light of various external shocks that took place in early 2011 — the MENA and Japan events, rising commodity prices — domestic investment represents an important upside potential given the strong focus and early gains of the Aquino administration in tackling corruption and improving the investment climate," according to the World Bank report said.

End of trade disruptions

Prospects for the supply side remain favorable with manufacturing and construction projected to benefit from the end of the trade disruptions linked to Japan’s post-disaster reconstruction, as well as the solid growth forecast for the business process outsourcing, World Bank senior economist Eric Le Borgne said.

"Increasing mineral prices will provide incentive to fast track investment and increase production in the mining sector. The strong performance of the services sector in the first quarter is expected to remain robust throughout the year. The agriculture sector is projected to continue being a net contributor to growth," Le Borgne added.

The Philippines’ recent performance indicates that the country’s economy has already stabilized since the global financial crisis, with more robust and less variable growth, Bert Hofman, World Bank country director, said.

"Prior to the global recession that started in 2008, the country was perceived to have a weak fiscal position, making it vulnerable to shocks and volatility. The global recession showed the extent to which the country’s economic fundamentals have improved, Hofman said.

Eastern Dragon

October 5th, 2011, 02:57 AM

gaya ng mga reklamo nya sa CPI :lol:

crystal?

quantitative analysis?:lol::lol::lol:

s40

October 5th, 2011, 03:49 AM

DAPA_CITY

October 5th, 2011, 04:46 AM

Surigao mining attacks likened to Pearl Harbor
By Danni Adorador, Franklin Caliguid, TJ Burgonio
Inquirer Mindanao, Philippine Daily Inquirer
1:59 am | Wednesday, October 5th, 2011

MINING’S PEARL HARBOR? Smoke billows from dozens of heavy equipment set ablaze by communist guerrillas in Monday’s raid on the compound of Taganito Mining Corp. in Claver, Surigao del Norte. ROEL N. CATOTO/CONTRIBUTOR
Attacks by the communist New People’s Army on three mining firms in Claver, Surigao del Norte province, are causing jitters in the mining industry and sending the message that investments might not be safe without tight security, the Mines and Geosciences Bureau (MGB) said Tuesday.
“Any assault on a mine is a serious thing. There are investments there. A mining project is capital intensive. If you hear such news of an attack, it’s a cause for worry for the industry,” MGB Director Leo Jasareno said in an interview by phone.
“It’s like the Pearl Harbor of the mining industry,” said the source who conducted an on site inspection of the compounds of Taganito Mining Corp. (TMC) and Platinum Group Metals Corp. (PGMC) in Claver a day after the attacks.
Pearl Harbor refers to the surprise Japanese attack on the US Pacific naval fleet in Hawaii on Dec. 7, 1941, that forced the United States to join the war against the Axis Powers that included Japan and Germany.
An industry source, who asked not to be named, said the coordinated raids damaged about P3-billion worth of property. Interior Secretary Jesse Robredo, however, estimated the damage at $1.5 billion.
Jasareno said the burning of equipment, vehicles and facilities of Taganito Mining Corp., Taganito HPAL Nickel Corp. and Platinum Group Metals Corp. would take its toll on the investment climate in general.
Besides, such attacks threatened the livelihood of thousands of Filipinos employed by the mines, and the revenue of the government, Jasareno added.
“It will definitely have an adverse impact. Investments are placed at risk by such attacks,” said the official, who received a flurry of text messages from stakeholders expressing concern.
“Imagine now an investment without security. While this is an isolated incident, it poses risks to investments,” he added.

Responsible mining
In a statement, the Chamber of Mines said the insurgents “may not want to see the kind of development that large-scale responsible mining has to offer since they thrive on poverty as it swells their numbers.”
Rocky Dimaculangan, vice president for communications at the Chamber of Mines, said the communist rebels’ threats to launch attacks on other mining sites were a cause for concern. But he said mining companies would continue to invest in the Philippines given government support.
“Chamber of Mines members are determined to pursue their projects as long as we have the support of the government and our host communities,” Dimaculangan said.
The military claimed that the three mining firms’ refusal to pay “revolutionary taxes” prompted the attacks. But a rebel leader said that the mines violated the group’s policies on the environment by destroying the environment and maltreating their employees.
There are 30 metallic mines across the country including 10 in Surigao.
The Philippines is the world’s fifth most mineralized country, with large reserves of minerals, including gold, copper and nickel. But extraction and production has been slow, hampered by bureaucracy and red tape and a concerted campaign by environment activists against mining.
Last year, investments reached $956 million. Environment Secretary Ramon Paje said last month that mining was forecast to grow 17 percent this year, with investments reaching $18 billion by 2016.
132 dump trucks, 9 barges
Among those razed were HPAL’s smelting plant, TMC’s guest house, 132 dump trucks, 22 backhoes, nine barges, two cranes, two bulldozers, a compactor and a grader, Surigao del Norte Governor Sol Matugas told reporters at a briefing in Claver town.
The Philippine Coast Guard (PCG) said the MV Con Carrier-7, a cargo ship of Aleson Shipping docked at Taganito Mining Port, was also bombed by the rebels at around 11:40 a.m. on Monday after they ordered the crew to disembark.
The ship was loaded with 9,000 liters of fuel oil, 368 liters of lube oil and 138 liters of hydraulic oil. All the 19 crew of Con Carrier-7 were safe, according to PCG spokesperson Lieutenant Commander Algier Ricafrente.
Ricafrente said five foreign vessels anchored about five kilometers north of Taganito had been advised to proceed to a safer area near Hikdop Island north of Surigao City or near the city port.

Single largest investment
The smelting plant, a joint venture of TMC and Sumitomo Metal Mining Co. Ltd., was expected to be completed next year at a cost of $1.4 billion and would have been fully operational in August 2013. Taganito’s nickel-processing plant is the single largest investment in the country’s minerals sector to date, according to the Chamber of Mines.
Matugas said the attack crippled at least 70 percent of the facilities of TMC, HPAL and PGMC in Claver, which lies 60 kilometers southeast of this city.
Emmanuel Samson, chief finance officer of Nickel Asia Corp., TMC’s mother company, said TMC’s mining operations and the loading of mined nickel ore at the company’s Taganito wharf would be suspended indefinitely.
“The damage wrought by the attack and the fear among foreign consultants and local workers that followed made it impossible for the company to immediately restart operations despite the presence of additional military troops in Barangay (village) Taganito-the mine area,” Samson said.
The Philippine Daily Inquirer learned that PGMC, which is based in nearby Barangay Cagdianao, was also temporarily suspending operations.

Diverting output
Nickel Asia Corp., the Philippines’ top nickel producer, will divert output from two mines to cover ore shipments from its Taganito mine.
The company also plans to hire equipment from other firms to replace machinery destroyed in the raid, allowing it to ship stockpiled ore from the Taganito nickel mine.
Shares of Nickel Asia on Tuesday dropped by 13 percent in early trading on the Philippine Stock Exchange after the mine operator suspended activities because of the attack. The stock ended the day down 2.55 percent.

5,000 workers displaced
Matugas said some 5,000 workers directly hired by the three mining firms would be displaced by the suspension of their operations.
TMC alone, which has announced it was suspending operation, employs more than 1,000 workers.
Matugas said the attacks would surely discourage investments in the province and would stunt the province’s aggressive tourism programs.
The attacks occurred at a time when the International Surfing Cup—participated in by a dozen American, Australian and Japanese surfers—was wrapping up in Siargao Island, she said.

Isolated
But Robredo, who went to Claver yesterday, said the attacks were “isolated” and were meant as a “show of force” by the New People’s Army.
He said he was hoping that the mining firms would realize this and resume operations.
The government plans to “further fortify” security in the mining sites by adding more troops, according to Robredo.
Jasareno said that it was the call of the Armed Forces of the Philippines to secure the mines.
“I agree that it’s an isolated case. They were able to attack the mines with the military not being able to respond immediately. That’s not always the case. The military has been given directives to protect investments and it is strategically located to respond immediately,” he said.

‘Antipeople’
The Philippine Mine Safety and Environment Association condemned the attacks.
“We appeal to the government for protection of mine operations and sound investments which contribute the needed taxes to improve our economy as well as provide livelihood and jobs for poor Filipinos, among others,” Louie Sarmiento, president of the association, said in a statement.
A group of Filipino miners, Ang Minero, also branded the NPA raids on Surigao mines as “terrorist acts which are blatantly antipeople.” With reports from Doris C. Dumlao, Riza T. Olchondra and Jerome Aning in Manila; Dennis Jay Santos, Inquirer Mindanao; and AP and Reuters

:ohno::ohno:

Bosnyboy

October 5th, 2011, 05:07 AM

http://www.abs-cbnnews.com/video/nation/10/04/11/pnoy-hit-being-%E2%80%98missing-action%E2%80%99

PNoy binatikos sa diumano'y pagiging ‘missing-in-action’

Inulan ng mga batikos ang diumano'y pagiging missing-in-action ni Pangulong Aquino sa gitna ng mga bagyong tumama sa bansa.

Sabi ng kanyang mga kritiko at maging mga kolumnista, usad-pagong ang gobyerno sa pagtugon sa kalamidad.

Maging ang kaalyadong si Speaker Sonny Belmonte bumanat na rin.

Kahit na raw kasi nakatutok si PNoy sa mga ahensya ng gobyerno, importante pa ring bisitahin niya ang mga sinalantang lugar para ipakita ang kanyang malasakit at pagkalinga sa mga biktima bilang ama ng bayan.

“Without a question, dapat magpunta siya roon for photo ops ha. He will encourage people, morale booster iyon,” sabi ni Belmonte.

Ilang araw nang lubog sa baha ang Central Luzon pero bukas pa lamang dadalaw ang Pangulo sa Bulacan, Tarlac at Pampanga, na teritoryo ni dating Pangulong Gloria Arroyo.

Pero nilinaw ng Palasyo na ang pagbisita ng Pangulo ay hindi dahil sa mga pagbatikos sa kanya.

“Do you know how much local government resources are going to be diverted if the President comes? Instead of focusing on the affected communities, for instance the helicopters can be used to deliver goods to the affected areas, that will be diverted for the President to be used,” sabi ni Presidential Spokesperson Edwin Lacierda.

Dagdag pa ni Lacierda, kahit na nasa Japan ang Pangulo nang manalasa ang bagyo, tiniyak pa rin nitong sapat ang tugon ng mga ahensya ng gobyerno.

“Masanay na rin po ang taumbayan dahil ang Pangulo ay laging nandoon po sa sitwasyon kahit hindi po nakikita. Makakaasa po ang taumbayan na ang ating Pangulo ay kumikilos at gumagalaw, ang nagbibigay ng utos sa mga opisyales na kailangang gawin ang kanilang trabaho,” paliwanag ni Lacierda.

Gusto rin personal na makita ng Pangulo ang mga nasalantang lalawigan para malaman kung kailangan bang magtalaga ng price ceiling sa pangunahing mga pangangailangan, mag-reprogram ng budget at kumuha ng foreign loans para sa rehabilitasyon.

Pero tiniyak ni Lacierda na sapat ang pondo ng gobyerno para sa calamity funds. Jing Castañeda, Patrol ng Pilipino

Bosnyboy

October 5th, 2011, 05:09 AM

What a shame Pnoy had to be reminded (reprimanded) by the speaker of the house on his duty as president. Its an undeniable fact how lazy and how indifferent this president is towards the plight of his "BOSS". Clearly the president got schooled, serves him well for being a lazy, arrogant oligarch.

http://www.abs-cbnnews.com/nation/10/04/11/speaker-pnoy-visit-typhoon-victims

Speaker to PNoy: Visit typhoon victims
by RG Cruz, ABS-CBN News
Posted at 10/04/2011 3:33 PM | Updated as of 10/04/2011 3:33 PM

MANILA, Philippines - House Speaker Sonny Belmonte on Tuesday urged President Aquino to visit victims of recent calamities to boost people's morale.

“Dapat magpunta siya roon for photo ops ha. Ang photo ops will encourage people. Morale booster yun, not just photo ops," he told ABS-CBN News.

Belmonte said Aquino is already working on the more important aspect of disaster management, which is ensuring that rescue and relief operations reach the typhoon victims.

“Siya naman the bulk of work -- better management of the agencies that are in charge, getting the staff and seeing they reach the proper people --- yun ang real core ng problem natin. Yung area ng yun ang kaniyang tintutukan," he said.

The Speaker said the government's handling of the situation was found wanting because of the magnitude of the disasters.

“Ako na lang pupunta kung gusto niyo. Photo op din. I think everybody agrees they had not anticipated this. Not only widespread pero sunod sunod. It could be done better. I think the President is addressing the problem. That’s the very problem the President is addressing," he said.

Candaba Mayor Jerry Pelayo revealed President Aquino is visiting Bulacan tomorrow, Wednesday. He has no idea yet if he will go to Pampanga, home province of former President Gloria Arroyo.

Pelayo said he will meet with President Aquino in Bulacan.

Belmonte notes Pampanga, Bulacan and Nueva Ecija remain under water.

He added that the government should learn its lessons from the United States in terms of preparing for disasters.

“Kanya-kanyang call yun. Yung good management is relief operations is a must. Kung dun sila nagkukulang we ask ourselves why? Nakikita niyo iba sinasabi na this is proving to be a wet year. We have to anticipate the worst situation and prepare for it,” he said.

s40

October 5th, 2011, 05:29 AM

froghat

October 5th, 2011, 06:05 AM

wala ka naman ata natunan sa manifesto na yun, kasi, we all know that you are liberal party supporter in real life.

kunwari ka lang maka gibo. :lol::lol::lol:

just joking.

>noynoy
>liberal

Promotes government interventionism in foreign ownership. (nationalism)
CCT program (socialism)

3cr

October 5th, 2011, 06:29 AM

Hopefully all this talk of credit rating upgrade happens sooner instead of later so that the Gov't can start borrowing at better rates and in turn finally start spending them on much needed infra projects and other economic stimulus in order to atleast stay near to our projected growth numbers. Pababa kasi ng pababa na ang ating projected growth numbers eh kelan ba gagalaw sina Pnoy...

Debt raters acknowledge Philippine gains -- central bank
Business World
http://www.bworldonline.com/content.php?section=Economy&title=Debt-raters-acknowledge-Philippine-gains----central-bank&id=39398

REPRESENTATIVES of credit rating agencies Philippine economic officials met in Washington, DC at the sidelines of the International Monetary Fund-World Bank meetings last month acknowledged fiscal improvements the country has achieved and agreed that fresh reviews should be done “late this year to early-2012,” the Bangko Sentral ng Pilipinas (BSP) said in a press statement.

The central bank said BSP Governor Amando M. Tetangco, Jr. and Finance Secretary Cesar V. Purisima briefed “high ranking officials” of credit raters Standard & Poor’s (S&P), Moody’s Investors Service and Fitch Ratings “on the latest developments in the Philippine credit story.”

“It was clear from the discussions that the Philippines is well-positioned for any global slowdown,” the central bank said in its statement, adding that credit rating officials during the meeting “acknowledged that the country has considerable policy flexibility to deal with global economic and financial uncertainties.”

Fitch currently has the highest rating for the Philippines at BB+, just one level shy of the much-coveted investment grade, while Moody’s and S&P ratings are two grades short at Ba2 and BB, respectively.

The central bank said credit raters particularly noted the country’s:

• continued robust external liquidity position with gross international reserves at $76 billion as of end-August against gross external debt of $61 billion as of end-March;

• external debt ratios that are better than those of many of the Philippines’ peers;

• “skillful handling by monetary authorities” of continued surge in “hot money” inflows;

• improved performance of state revenue collectors; and

• approval of Republic Act No. 10149, or the GOCC (government-owned and -controlled corporations) Governance Act of 2011 which institutionalizes good governance practices in state firms.

_________________________

Primary risks to growth tagged by central bank
Business World
http://www.bworldonline.com/content.php?section=TopStory&title=Primary-risks-to-growth-tagged-by-central-bank&id=39402

GOVERNMENT underspending and demand weakness are the primary risks to economic growth with inflation concerns having moderated, the Bangko Sentral ng Pilipinas (BSP) said.

“The outlook for economic activity in the near term could be dampened by lower-than-projected government spending as well as continued weakness in external demand as downside risks to global growth intensify,” the central bank said in its Second Quarter Report on Economic and Financial Developments.

“Taken together, these suggest that the balance of risks for domestic output conditions leans slightly toward the downside, particularly in view of global headwinds,” it added.

Growth was a lower-than-expected 4% in the first half, below the 7-8% target and the 5-6% assumption used in the budget.

The BSP warned that foreign direct investments and remittances could weaken, but also said that capital could resume flowing back to emerging market economies.

“The relatively firmer growth prospects in emerging economies as against the anemic growth in most advanced economies, and the yield differentials favoring emerging markets, will buoy up domestic financial markets,” the central bank said.

The rise in consumer prices, the BSP said, remained manageable and within the 3-5% target.

“But upsides like the impact of surplus liquidity, pending petitions for electricity rate adjustments, and potentially higher global rice prices might push inflation higher,” it added.

September inflation data is scheduled to be released today. Full-year inflation, which eased to 4.3% in August from July’s 4.6%, is expected to average 4.46%.

Continuous monitoring and rethinking of strategies, the central bank said, will be its thrust for the rest of the year.

b_two

October 5th, 2011, 06:41 AM

any news regarding ppp projects? may na-bid na ba?

3cr

October 5th, 2011, 06:53 AM

Fresh PPP reviews ordered
Business World
http://www.bworldonline.com/content.php?section=TopStory&title=Fresh-PPP-reviews-ordered&id=39404

THE AQUINO ADMINISTRATION’S centerpiece infrastructure program could be headed for further delays as the president has directed his economic team to ensure that a proposed policy adjustment would have the “least cost” for the government.

Palace spokesperson Edwin Lacierda told reporters yesterday that President Benigno S. C. Aquino III had asked for detailed costings of public-private partnership (PPP) projects under the Transportation, Public Works, Health and Education departments. Financing and feasibility reviews have been cited by officials as having pushed back the bidding of PPP projects, which the government initially claimed would be the backbone of 2011 economic growth but have yet to be implemented.

Mr. Aquino’s directive, issued during a late afternoon Monday meeting that extended into the evening, followed Transportation Secretary Manuel A. Roxas II’s statement last week that the government could opt to build the infrastructure itself -- taking advantage of concessional loans -- and then turn the facilities over to the private sector.

In announcing the PPP initiative last year, Mr. Aquino had said his administration was looking to tap private sector resources as the government lacked the funds to bridge the country’s infrastructure gap.

“Based on cost, if government pays for the entire project, how much does it cost? If it’s PPP, how much do we pay then? So those are the kinds of figures that he (Mr. Aquino) wanted. Everybody had to present, because he had concerns really with some of them,” Mr. Lacierda said.

Asked if any of the projects listed under the PPP scheme had been dropped on the basis of cost, Mr. Lacierda replied, “so far, none yet.”

“There is no preference na huwag na lang, government na lang (that we shouldn’t engage the private sector)... There is no decision to move them (the projects) out of PPP,” he added.

Mr. Lacierda claimed that fresh delays were not forthcoming, indicating that PPP Center acting chief Cosette V. Canilao and her team, who were present during the Monday meeting, had given assurances that this year’s timeline would be followed.

The Palace spokesman confirmed that Mr. Roxas again discussed the concept of reconfiguring the PPP program into a “hybrid” whereby official development assistance rather than private sector financing would be tapped.

“The President agrees with Mar’s (Mr. Roxas’ nickname) statement that what we’re engaged in should be at least cost,” Mr. Lacierda said, reiterating the Aquino administration’s “Five Rs” -- Right Project, Right Cost, Right Quality, Right People, at Right on Time -- slogan.

“The President’s concerns are towards that; he wanted to see the figures again,” he said.

Out of an original list of 10 big-ticket infrastructure deals announced as having been included in the PPP program, only the P1.956-billion Daang Hari-South Luzon Expressway link deal is on the table. The first project offered to investors, the combined Light Rail Transit Line 1 and Metro Rail Transit-3 operations and maintenance contract, has been recalled by Mr. Roxas for review.

The chief of the PPP Center, which is supposed to oversee the scheme, resigned recently. The infrastructure-centered program has also been expanded to include projects such as the Health department’s vaccine self-sufficiency initiative.

In a related development, a Finance officials yesterday said that work was under way to launch the $13-billion Association of Southeast Asian Nations (ASEAN) Infrastructure Fund, which the Philippines is looking to tap for the PPP program.

The fund, to be based in Malaysia as a limited liability company, is currently being organized and operational guidelines are also being drafted, Finance Undersecretary Rosalia V. de Leon said.

It could be up and running by April next year, in time for the rollout of most of the projects under the PPP program, she added.

“The sovereigns can apply for financing from the ASEAN Infrastructure Fund,” Ms. de Leon explained.

The ASEAN Infrastructure Fund, launched last week, aims to leverage roughly $13 billion in infrastructure financing in the region until 2020. ASEAN has committed to lend $4 billion while the Asian Development Bank will finance some $9 billion.

Malaysia is the largest ASEAN contributor with a $150-million investment, followed by Indonesia with $120 million. The Philippines and Singapore will pitch in $15 million each.

3cr

October 5th, 2011, 07:23 AM

ASEAN: Strength in numbers
Business Mirror
http://www.businessmirror.com.ph/home/perspective/16964-strength-in-numbers

THE Philippines could become the ninth-largest economy in the world—but only if it integrates with the rest of the 10 countries—Brunei, Burma, Cambodia, East Timor, Indonesia, Laos, Malaysia, Singapore, Thailand and Vietnam—that make up the Association of Southeast Asian Nations or Asean.

United, the Asean economy is valued at at least $1.8 trillion—a little smaller than Brazil but larger than Russia, according Dato Timothy Ong, founder and chairman of Asia Inc. Forum and the convener of the Asean 100 forum.

Ong believes it is high time for the Asean to be integrated as an economic unit to become a more potent and stronger force in the global economic arena.

“In a globalizing world and with the rise of India and China, can Asean afford to be fragmented,” he said at a recent interview in Makati City. “If Asean is one, it’s going to be a more significant market and, at the same time, will be a force to reckon with.”

Indeed, economic integration is one of the hottest buzzwords of the global economy today.

The Asean has become a prominent figure in promoting bilateral and regional trading arrangements since 1997, starting with the Asean Plus Three process linking the 10-member bloc with China, South Korea and Japan.

Haruhiko Kuroda, president of Asian Development Bank, pointed out the importance of Asean in the global trading arena.

“Asean has become a manufacturing network for a wide range of products—from pharmaceuticals, automobiles and electronics to information-technology goods—and also produces high-end intermediate goods for final assembly elsewhere. Asean members have been major participants in the rapid expansion of free-trade agreements [FTAs] across Asia and the Pacific,” Kuroda said in one of his speeches.

Given its experience as a collegial body addressing common issues and concerns, the Asean can become an important vehicle for working toward a consolidation of FTAs into regionwide agreements. As synergies develop, it stands to gain as a community—as a center for expanding regionalism.

Asean 100

To push the momentum in promoting economic integration, the Asean 100 is a highly interactive meeting of minds of the most promising Southeast Asian next-generation leaders from business, government and civil society.

Ong said some homegrown businesses will find the forum a useful platform for relationship building and regional outreach. This is manifested by the attendance of CEOs of highly respected corporations to at least two of the prior forums. The list includes AirAsia, the region’s largest low-cost airline; the Para Group, a top Indonesian diversified group; Top Glove Corp., a Malaysian rubber-glove manufacturer that produces 22 percent of the world’s rubber gloves; First Philippine Holdings Corp., a leading energy player in the country; Ayala Corp., one of the Philippines’ largest and oldest business houses; Ascendas, a regional provider of office-space solutions headquartered in Singapore; the Wangkanai Group, a Thai sugar conglomerate; and the Adinin Group, a leading oil-and-gas engineering company in Brunei, to name only a few.

As far as the Philippines is concerned, Ong said the Philippines has a very good potential to become a player in the economic integration of Asean.

“The Philippines has a sufficient corporate sector which can be classified as world-class like SM, Ayala, Jollibee and ICTSI . I am happy to tell you that Jollibee is No. 1 in Brunei,” he said.

Furthermore, Ong said the Philippines has excellent human capital as proven by the deployment of millions of Filipino professionals around the world.

“However, the sad thing is that many Filipinos are forced to work abroad because of lack of opportunities in the Philippine economy,” he said.

Europe’s experience

According to Dr. Myrna Austria, vice chancellor for academics and full-time professor in economics at De La University-Manila, FTAs or regional trade agreements spur economic growth through increased specialization, greater trade, and the inclusion in a global value chain.

In her paper “Asean’s Extra Regional Linkages: Implications for an East Asian Economic Community,” Austria pointed out that it would be an advantage for the Asean to enter into formal arrangements because this also strengthens regional peace and security—which she said was the driving force behind the European integration.

Being at the center of two world wars, the Europeans know of their devastating effects such that after World War II the Europeans pushed with greater effort the formation of the Pan-Europa movement.

Austria believes that the China-Asean FTA should open the way of settling the current dispute over the Spratlys.

“In this regard, the insistence by Asean on accession by prospective partners to its Treaty of Amity and Cooperation is an important cornerstone in improving peace and security in the region,” Austria said.

“A formal arrangement should help countries either lock in domestic reforms or accelerate implementation of proposed reforms. International agreements can act as commitment mechanisms, providing policy-makers with the needed leverage to overcome domestic resistance to reforms. An FTA can also provide a government with credibility, thereby boosting domestic and foreign investment in the country,” added Austria.

An East Asian FTA will also make member-countries more conscious of the development gap in the region and might be the key to help neighboring countries stabilize and prosper for “altruistic purposes and get away from the effects of spillovers of unrest and population.” Austria said reducing the development gap will enhance the Asean, making it a more effective link between countries of Northeast Asia.

More important, Austria said an FTA will give the bloc a stronger political bargaining power because they’re sending the message they have banded together to pursue common interests.

And it is important for the Asean to ally with China, she stressed.

“Having China on its side will definitely enhance the political stature of Asean and vice-versa. One area that can be revived through advocacy by a China-Asean front is the reform of the international financial architecture. Efforts toward such measures were sidelined by indifference of the US Treasury,” she said.

The Philippine challenge

The Chinese experience, however, also proves that one can achieve economic growth without FTAs.

“The simple fact is that countries in East Asia which experienced high rates of economic growth did so without the benefit of an FTA. China was not even a signatory of GATT or an original member of the WTO. In other words, an FTA is not crucial to economic growth,” said Austria.

As such, Dr. Josef Yap, president of the Philippine Institute for Development Studies, said the Philippines must first address its own development so it can be a formidable partner in any economic merger.

In his paper “Economic Integration and Regional Cooperation in East Asia: A Pragmatic View,” Yap said the Philippines has to shape up its economy.

“It should be emphasized that the impediments to faster economic growth are largely internal. For example, the study of the East Asian miracle points to four main factors: outward orientation, a modernized agriculture sector, bureaucratic efficiency and a relatively equitable distribution of income. Moreover, outward orientation by these countries was not achieved through joining an FTA,” Yap said.

“The Philippines is a clear example where unimpressive economic growth is largely due to internal factors. The disparity is largest when all 10 Asean member-countries are compared as a group. It can be observed that the disparity of the Asean+3 is lower than the Asean 10 and the coefficient of variation declines further when the lower income countries are not included,” he said.

Yap pointed out that developing economies, such as the Philippines, need to beef up their own capabilities—in terms of infrastructure technology and human-resource development—to maintain a competitive business environment and economic and social stability in order to capitalize on the benefits of liberalization.

Right now, he said, there’s much to be desired in the capabilities of the country. For instance, the poor quality of infrastructure of the country has been cited frequently by several business groups and think tanks as one of the main reasons investors shy away from the country.

On resource development, the Philippines has a lot of catching up to do as its educational system has experienced a drastic decline in standards, resulting in a large number of graduates who don’t have sufficient skills.

So while it is important to strengthen Asean, a special focus must be placed on narrowing the development gap among the member-countries—which will not be achieved by merely deepening regional economic integration.

“Direct interventions at the regional level are necessary and this will be difficult to accomplish without East Asian countries establishing political rapprochement,” Yap said.

On her part, Austria said developing a common framework is a challenge itself for the Asean given the different levels of development of the member- economies.

She said Asean must review its approach and position as the hub of bilateral trade deals in East Asia if it wants to play a major role in building the whole process toward the formation of the East Asian community.

“An ideal framework would be one that strengthens, rather than contradicts, the market forces known to drive economic integration of the region,” she said.

India-ASEAN free trade deal seen to benefit PHL economy
By Ehda M. Dagooc (The Freeman)
http://www.philstar.com/Article.aspx?articleId=733713&publicationSubCategoryId=108

[I]CEBU, Philippines - The existing FTA (Free Trade Agreement) between India and ASEAN countries is expected to benefit Philippine trade and provide promising market for struggling exporters, who are now affected by the weak economic state of traditional markets like United States and Europe.

In a report released by PhilExport, it encouraged exporters to intensify its entry to populous market, and develop relationship with emerging ASEAN markets to take advantage of the Philippine’s FTA with ASEAN member nations.

According to Rashmi Tolentino-Singh, chairperson of the Hospitality & Wellness Industries Furnishers & Service Providers Association, that the Philippine export products still has a lot of advantages in attracting the new wave of market potential.

“We have good products to offer. Quality is the battlecry. We need to have a culture of excellence, this will sustain us,” she said.

Singh mentioned that in a reseach study conducted recently, it bared that there are consumer shows abroad they can penetrate as well as other markets which have been considered competitors but are now actually their customers, like China and India.

On the other hand, Singh warned exporters that diligence is very important in entering the world’s most populous countries.

She said China is one of those markets that exporters should focus on. Likewise, India offers a huge potential but not so much for consumer-base but for institutional markets, such as hospitality sector because the country is building thousands of hospitals and they can not cope with demand of the market.

The Philippines’ FTA in ASEAN like Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Singapore, Thailand and Vietnam, should also be maximized, she recommended.

Meanwhile, she said Middle East also offers good potential for growth. Exporters are encouraged to focus on Qatar because it is the only country in the world that has not been affected by the recession.

She said Qatar is already preparing for the 2022 soccer World Cup so there are all kinds of construction going on there.

While some markets in Europe are struggling big time, she said some areas still offer opportunities particularly in northern Europe—Germany, as well as Paris, England.

Singh also identified Korea as another potential market for exporters.

Paris, in particular she said has a market that is global. England on one had, is another place that is very compatible for what the Philippines is producing “because they are very design-oriented.”

Another market to watch for is Korea, she added. The young people in Korea are inclined to demand for contemporary stuffs, which is one of the strengths of Filipino exporters.

RonnieR

October 5th, 2011, 07:25 AM

any news regarding ppp projects? may na-bid na ba?

There is an assurance from DOTC Secretary Roxas and DPWH Singson that all infra projects will be completed. Well, we know that Roxas has an ambition to become the next President, so he will ensure that what he promised will be done.

Philippines Scales Down Plan to Offer Infrastructure Projects to Investors

By Karl Lester M. Yap - Oct 5, 2011 12:00 AM GMT+0800

The Philippines may offer at least two projects to investors under so-called public-private partnership starting this quarter, said Cosette Canilao, officer-in-charge of the program, scaling down a plan to provide 10 projects this year.

“Planning these projects takes a great deal of time to ensure their success,” Canilao said in an interview in her office in Manila yesterday. “We want to create a program that can become a legacy that would solve our nation’s infrastructure needs.”

Delays in the program may undermine President Benigno Aquino’s goal to bolster growth to as much as 8 percent annually to boost jobs and cut poverty. The Philippines competes with the rest of the region for foreign capital to develop its infrastructure as the government seeks to narrow the budget deficit from a record in 2010.

The Philippines may also invite bids to extend railway lines and operate airports after the first quarter of 2012, Transportation and Communications Secretary Mar Roxas said in an interview this week. These projects were earlier planned for this year.

Growth in the Philippines’ $200 billion economy slowed for a fourth straight quarter to 3.4 percent in the three months through June.

The government plans to narrow the budget deficit to 2.6 percent of gross domestic product, or about 286 billion pesos, in 2012, from a target of 3 percent, or about 300 billion pesos, this year.

To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

http://www.bloomberg.com/news/2011-10-04/philippines-may-offer-two-projects-this-quarter-canilao-says.html

s40

October 5th, 2011, 07:55 AM

There is an assurance from DOTC Secretary Roxas and DPWH Singson that all infra projects will be completed. Well, we know that Roxas has an ambition to become the next President, so he will ensure that what he promised will be done.

Philippines Scales Down Plan to Offer Infrastructure Projects to Investors

By Karl Lester M. Yap - Oct 5, 2011 12:00 AM GMT+0800

The Philippines may offer at least two projects to investors under so-called public-private partnership starting this quarter, said Cosette Canilao, officer-in-charge of the program, scaling down a plan to provide 10 projects this year.

“Planning these projects takes a great deal of time to ensure their success,” Canilao said in an interview in her office in Manila yesterday. “We want to create a program that can become a legacy that would solve our nation’s infrastructure needs.”

Delays in the program may undermine President Benigno Aquino’s goal to bolster growth to as much as 8 percent annually to boost jobs and cut poverty. The Philippines competes with the rest of the region for foreign capital to develop its infrastructure as the government seeks to narrow the budget deficit from a record in 2010.

The Philippines may also invite bids to extend railway lines and operate airports after the first quarter of 2012, Transportation and Communications Secretary Mar Roxas said in an interview this week. These projects were earlier planned for this year.

Growth in the Philippines’ $200 billion economy slowed for a fourth straight quarter to 3.4 percent in the three months through June.

The government plans to narrow the budget deficit to 2.6 percent of gross domestic product, or about 286 billion pesos, in 2012, from a target of 3 percent, or about 300 billion pesos, this year.

To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

http://www.bloomberg.com/news/2011-10-04/philippines-may-offer-two-projects-this-quarter-canilao-says.html

ayan umamin na, matatagalan na ang mga PPP:nuts: boinks....

tutukan ng sobrang tindi dapat ang in-charge diyan sa PPP.... dapat buwan buwan status report at kung nasaan ang delay eh latiguhin... kung pag babago talaga hanap eh dapat accountable sa performance ang nilalagay na in-charge diyan sa PPP na yan. yang website ng PPP na iyan, panay forum, kapihan at seminar inatupag ata. tsk tsk tsk 8% ang target 5% ang best case forecast ng economist... laki ng gap 3% dami daming tao pa din pala ang continuously magiging unemployed at walang pagbabago ang buhay boinks:nuts:

RonnieR

October 5th, 2011, 08:52 AM

walang hiya ginawa ng NPA sa nickel mine na yan sa surigao anak ng mga terrorista talaga........ tindihan pa ang peace and order push ng gov't.... mga riding in tandem na assassin araw araw me pinapatay.

Mga terorista talaga! They extort to live and they thrive on poverty.

Dapat i terminate na agad nang gobyerno ang peace talk with these terrorists. They have a different mindset. The Security Agency, Taganito (Nickel Asia) and PNP claimed that there was no death contrary to earlier reports that 3 security guards were killed. They were injured, yes but treated in the local hospital. Bakit ang bilis nang media mag report about death?

Buti na lang, matatag ang Nickel Asia. Their new headquarters at BGC is under construction.

Nickel Asia resumes mine operations after attack
Reuters
Posted at 10/05/2011 1:43 PM | Updated as of 10/05/2011 1:43 PM

MANILA, Philippines - Nickel Asia Corp., the Philippines' top nickel producer, said on Wednesday its Taganito Mining Corp. unit has resumed operations after an attack by communist rebels early this week.

Nickel Asia, partly owned by Japan's Sumitomo Metal Mining Corp., said it could start nickel ore loading operations within the next three weeks and does not expect a significant reduction in its shipment tonnage this year.

The company also said in a statement to the stock exchange that the damage caused to the $1.4 billion nickel processing plant being constructed adjacent to the Taganito mine in southern Philippines was expected to be minimal.

http://www.abs-cbnnews.com/business/10/05/11/nickel-asia-resumes-mine-operations-after-attack

Parchie

October 5th, 2011, 09:02 AM

ayan umamin na, matatagalan na ang mga PPP:nuts: boinks....

tutukan ng sobrang tindi dapat ang in-charge diyan sa PPP.... dapat buwan buwan status report at kung nasaan ang delay eh latiguhin... kung pag babago talaga hanap eh dapat accountable sa performance ang nilalagay na in-charge diyan sa PPP na yan. yang website ng PPP na iyan, panay forum, kapihan at seminar inatupag ata. tsk tsk tsk 8% ang target 5% ang best case forecast ng economist... laki ng gap 3% dami daming tao pa din pala ang continuously magiging unemployed at walang pagbabago ang buhay boinks:nuts:

Mali yata yan ah. Ang naririning ng isang bubuwit ko ay isang beses nalang daw po mag mi-meet ang board ng isang bangko ng gobiyerno (DBP) - sa dalawang buwan! Hindi kaya ganun din ang benchmark ng admin ngayon at sa PPP director diyan?

Ang maganda dun sa bangkong yon ay lahat daw ng application/transactions na may tunog na "milyon" ay board ang magdesisyon! Parang wala nang magawang overnight call transactions dahil diyan. Sa ibang bangko na lang siguro! Malamang lalago daw ang pera ng DBP dahil sa pagtitipid ng board of directors. Imagine ang laking savings dahil anim na meetings na lang sa isang taon tapos ang mahal ng kape, gatas at asukal at may biscuits pa!

leofriends

October 5th, 2011, 09:10 AM

Peso weakens to lowest level in 8 months (http://business.inquirer.net/22983/peso-weakens-to-lowest-level-in-8-months)

Local currency now trading above 44 to $1

By: Michelle V. Remo
Philippine Daily Inquirer
12:11 am | Wednesday, October 5th, 2011

The peso weakened to the 44-to-a-dollar territory on Tuesday and hit its lowest finish in eight months as the prolonged debt crisis in the eurozone prompted portfolio investors to pull out funds even from better-performing Asian economies.

The local currency closed at 44.08 against the greenback on the second trading day of the week, down 9 centavos from the previous day’s finish of 43.99:$1.

Tuesday’s close was the weakest in about eight months. The last time the peso hit a level weaker than Tuesday’s was last February 1 when the local currency closed at 44.21 to a dollar.

Intraday high on Tuesday was 43.94:$1 while intraday low was 44.23:$1. Volume of trade amounted to $1.2 billion.

Traders said the depreciation of the peso reflected the movement of other emerging market currencies. They said that at this time when the global economic outlook was uncertain, portfolio fund owners preferred holding on to dollars to stay safe. Consequently, they withdraw securities investments, including those from emerging markets like the Philippines.

The peso could have been weaker were it not for the intervention by the Bangko Sentral ng Pilipinas (BSP), according to market players.

BSP Governor Amando Tetangco Jr. said the central bank has a policy of allowing a market-determined exchange rate, but would intervene in the foreign exchange market from time to time to avoid sharp fluctuations.

For the BSP, a volatile exchange rate was disruptive to businesses and to the general economy.

Tetangco told reporters that despite the depreciation of the peso on Tuesday, the currency remained competitive as the volatility of the local currency was just about the average volatility of Asian currencies.

“The peso’s movement is indicative of risk aversion in the face of greater global financial volatility,” Tetangco said.

The Philippines, like other emerging markets, is exposed to the crisis in the eurozone through various channels, mainly exports and remittances.

Europe is one of the biggest export markets for countries like the Philippines. It is also home to many overseas Filipino workers whose remittances help fuel consumption of domestic households.

Remittances from Europe accounted for about 17 percent of total funds being sent to the Philippines.

The BSP, nonetheless, has expressed confidence that remittances would still exceed the $20-billion mark as targeted this year despite the prolonged debt crisis in the eurozone.

The BSP expects remittances to grow at a faster pace in the fourth quarter, thus pull up the average growth for the full year. In the fourth quarter, remittances usually rise at a faster clip as overseas Filipinos send more money for the Christmas season.

“Remittances have proven to be resilient in the past,” Tetangco said. “A 7-percent growth in remittances to over $20 billion is attainable.”

Data from the central bank showed that in the first seven months of the year, remittances amounted to $11.4 billion, up 6.3 percent year on year.

Last year, remittances amounted to $18.8 billion.

Tetangco said there were alternative labor markets such as in Asia where demand for foreign workers remained high. He said this was one reason why remittances continued to grow despite a tough global economic climate.

Remittances are a closely watched economic indicator for the Philippines since these largely fuel household consumption, which in turn serves as a significant driver of economic growth.

s40

October 5th, 2011, 09:22 AM

Mali yata yan ah. Ang naririning ng isang bubuwit ko ay isang beses nalang daw po mag mi-meet ang board ng isang bangko ng gobiyerno (DBP) - sa dalawang buwan! Hindi kaya ganun din ang benchmark ng admin ngayon at sa PPP director diyan?

Ang maganda dun sa bangkong yon ay lahat daw ng application/transactions na may tunog na "milyon" ay board ang magdesisyon! Parang wala nang magawang overnight call transactions dahil diyan. Sa ibang bangko na lang siguro! Malamang lalago daw ang pera ng DBP dahil sa pagtitipid ng board of directors. Imagine ang laking savings dahil anim na meetings na lang sa isang taon tapos ang mahal ng kape, gatas at asukal at may biscuits pa!

hahaha naka deal ko na yang DBP dati, bulok talaga yang bank na yan. typicaly government sobrang kupad kumilos at medyo mahina ang quality ng mga tao niyan.... mga analyst diyan nakow mababatukan mo. at totoo basta malaki yung amount board of directors ang nag aapprove (not sure kung ganun lahat ng government banks). Privatize nalang yang bank na yan, wala na silbi yang bank na iyan, hindi naman nasunod sa mandato niyang "development". nakatipid sa kape, hindi naman makapag pautang dahil bihira lang board meeting boinks. :)

wheel of steel

October 5th, 2011, 12:54 PM

Mga terorista talaga! They extort to live and they thrive on poverty.

Dapat i terminate na agad nang gobyerno ang peace talk with these terrorists. They have a different mindset. The Security Agency, Taganito (Nickel Asia) and PNP claimed that there was no death contrary to earlier reports that 3 security guards were killed. They were injured, yes but treated in the local hospital. Bakit ang bilis nang media mag report about death?

Buti na lang, matatag ang Nickel Asia. Their new headquarters at BGC is under construction.

Nickel Asia resumes mine operations after attack
Reuters
Posted at 10/05/2011 1:43 PM | Updated as of 10/05/2011 1:43 PM

MANILA, Philippines - Nickel Asia Corp., the Philippines' top nickel producer, said on Wednesday its Taganito Mining Corp. unit has resumed operations after an attack by communist rebels early this week.

Nickel Asia, partly owned by Japan's Sumitomo Metal Mining Corp., said it could start nickel ore loading operations within the next three weeks and does not expect a significant reduction in its shipment tonnage this year.

The company also said in a statement to the stock exchange that the damage caused to the $1.4 billion nickel processing plant being constructed adjacent to the Taganito mine in southern Philippines was expected to be minimal.

http://www.abs-cbnnews.com/business/10/05/11/nickel-asia-resumes-mine-operations-after-attack

I share with you sentiment. Dapat yan pagpapatayin, alam natin ung mga financial galamay nyan yung mga naghaharian sa mga rally. Ung iba conressman na at kunyari kakampi ng gobyerno. :ohno:

Grabe yung ginawa nila sa minahan. Gawain yan ng mga sra ulo, mga terorista, demonyo...:ohno:

KnightOfTheFlag

October 5th, 2011, 03:08 PM

http://www.abs-cbnnews.com/video/nation/10/04/11/pnoy-hit-being-%E2%80%98missing-action%E2%80%99

PNoy binatikos sa diumano'y pagiging 'missing-in-action'

Inulan ng mga batikos ang diumano'y pagiging missing-in-action ni Pangulong Aquino sa gitna ng mga bagyong tumama sa bansa.

Sabi ng kanyang mga kritiko at maging mga kolumnista, usad-pagong ang gobyerno sa pagtugon sa kalamidad.

Maging ang kaalyadong si Speaker Sonny Belmonte bumanat na rin.

Kahit na raw kasi nakatutok si PNoy sa mga ahensya ng gobyerno, importante pa ring bisitahin niya ang mga sinalantang lugar para ipakita ang kanyang malasakit at pagkalinga sa mga biktima bilang ama ng bayan.

"Without a question, dapat magpunta siya roon for photo ops ha. He will encourage people, morale booster iyon," sabi ni Belmonte.

Ilang araw nang lubog sa baha ang Central Luzon pero bukas pa lamang dadalaw ang Pangulo sa Bulacan, Tarlac at Pampanga, na teritoryo ni dating Pangulong Gloria Arroyo.

Pero nilinaw ng Palasyo na ang pagbisita ng Pangulo ay hindi dahil sa mga pagbatikos sa kanya.

"Do you know how much local government resources are going to be diverted if the President comes? Instead of focusing on the affected communities, for instance the helicopters can be used to deliver goods to the affected areas, that will be diverted for the President to be used," sabi ni Presidential Spokesperson Edwin Lacierda.

Dagdag pa ni Lacierda, kahit na nasa Japan ang Pangulo nang manalasa ang bagyo, tiniyak pa rin nitong sapat ang tugon ng mga ahensya ng gobyerno.

"Masanay na rin po ang taumbayan dahil ang Pangulo ay laging nandoon po sa sitwasyon kahit hindi po nakikita. Makakaasa po ang taumbayan na ang ating Pangulo ay kumikilos at gumagalaw, ang nagbibigay ng utos sa mga opisyales na kailangang gawin ang kanilang trabaho," paliwanag ni Lacierda.

Gusto rin personal na makita ng Pangulo ang mga nasalantang lalawigan para malaman kung kailangan bang magtalaga ng price ceiling sa pangunahing mga pangangailangan, mag-reprogram ng budget at kumuha ng foreign loans para sa rehabilitasyon.

Pero tiniyak ni Lacierda na sapat ang pondo ng gobyerno para sa calamity funds. Jing Castañeda, Patrol ng Pilipino

Napaka walang kwenta ng pangulong to, hindi mo masabing pangulo pero "pang-gulo"...walang kusang palo, lahat ba naman kailangan sabihin sa kanya, kailangang isubo, kailangang itulak...hirap talaga ng "spoiled brat" na lider, parang bata, ayaw mahirapan, ayaw marumihan at ayaw kumayod miski sa panahon ng matinding pangangailangan...pero pag mag a-abroad ang bilis ng announcement haaaayyy buhaayy...hayan hah kita nyo....sinabihan na sya ng isang beterano at magaling na politiko na si Belmonte ka-alyado na yan HINDI PA RIN MAKIKINIG! kung sumunod man MABIGAT AT MASAMA ANG LOOB....sympre "brat" eh ayaw masabihan, mapapahiya sa mga nililigawan nya....miski yung mga DEMONYONG NPA na yan sinasamantala na ang kahinaan at kabagalan ng ating liderato, darating ang panahon HINDI LANG NPA ang magsasamantala sa kahinaan ni pnoy, dami pang mga DEMONYO dyan na naghihintay ng tamang pagkakataon maghasik ng kanilang lagim...isa na dyan yang sa Umbra Kato...oras na maramdaman nyang lalamya lamya ang lider natin bigla na lang magkakalat yan at mangangamote na naman si pnoy...

xxxriainxxx

October 5th, 2011, 03:30 PM

My 2 centavos, I don't think a President should micromanage.

Kintoy

October 5th, 2011, 03:44 PM

hindi ba magiging distraction lang sa mga relief workers kung dadaan pa ang presidente dun?

RonnieR

October 5th, 2011, 03:50 PM

^^ I also don't agree that the President should be with the victims. Pang photo op? He has his people to do these things. In fact, I noticed that the response teams of LGU in the pre-emptive evacuation have improved. DSWD is doing relatively okay during typhoon.

The best that he could do is to assure them of government's help and what measures to be done to minimize the casualty.

xxxriainxxx

October 5th, 2011, 04:01 PM

Although a visit would be nice, Kintoy and RonnieR does have a point there, LGUs and government agencies are supposed to be the manifestations of action from the President. Hindi lang yung photoop.

NOVO ECIJANO

October 5th, 2011, 04:03 PM

RonnieR

October 5th, 2011, 04:20 PM

Eastern Dragon

October 5th, 2011, 04:28 PM

so disagree ka kay Obama,Bush and other leaders around the world na kapag may disaster sila ang nauunang umaaksyon at personal na pupumunta sa lugar ng pinangyarihan and even cut short their trips if they are out of the country.that's weird.

hahahahaha, si bush pa naman ginawang example.

hurricane katrina anyone? :lol::lol::lol:

itong si novo, nagpopost pero hindi nag iisip muna.

si idol mong pandakekok, hindi rin namin nakita nung kasagsagan ng ondoy. :lol:

NOVO ECIJANO

October 5th, 2011, 04:33 PM

Eastern Dragon

October 5th, 2011, 04:39 PM

http://http://articles.cnn.com/2005-09-11/us/katrina.impact_1_death-toll-hurricane-katrina-federal-relief?_s=PM:US

thats not true,Bush was still president when Katrina happened,he visited the place twice.

pambihira ka naman novo,

President Bush arrived in Louisiana Sunday as the official death toll from Hurricane Katrina climbed past 400 and the search for bodies continued nearly two weeks after the storm hit the Gulf Coast.

yan ang sinasabi ko eh, mag isip muna bago magpost. sa hangarin nyo kasi laitin current admin, kung ano ano sinasabi at pinopost nyo, kahit mali mali.

sure, he visited twice, from the confines of his plane or chopper. bush went ground level almost two weeks after pa. si aquino, was on the ground what, less than a week after because he was stranded in japan. :lol::lol::lol:

kaya pinagtatawanan kayo dito eh. nagquote pa kayo ng article, ayan mali mali pa.

NOVO ECIJANO

October 5th, 2011, 04:49 PM

Same as Pnoy,he was widely criticised for the action including Obama and it didnt happen again,but many times i remember Bush cut short his trips if there's emergency events.

Eastern Dragon

October 5th, 2011, 05:00 PM

Same as Pnoy,he was widely criticised for the action including Obama and it didnt happen again,but many times i remember Bush cut short his trips if there's emergency events.

novo, seriously, nag iisip ka ba pre?

of course you can cut short your trip, like what bush did when 9/11 happened. he had to cut short his book reading activity,

but ano gusto mo gawin ni aquino. cut short his state visit to japan and fly back to manila? fly directly into the fuicking typhoon?

marami nga flights nacanceled nun and you want the president to fly back immediately?

naiintindihan mo ba ang meaning ng stranded?:nuts:

Parchie

October 5th, 2011, 05:16 PM

Same as Pnoy,he was widely criticised for the action including Obama and it didnt happen again,but many times i remember Bush cut short his trips if there's emergency events.

We don't have a common ground in order to be able to compare the US vis a vis our president. Culturally, we are supposed to be compassionate than the Americans.

Kaya nga may nagrereklamo, dahil sa tantiya ng mga flood victims, kulang ang inaasahang aksiyon na dapat ginawa ng kanilang leader (kung meron mang nagawa) sa nangyari. Kung yaong ilan dito ay nagsasabing okay lang na hindi puntahan, medyo mahirap matanggap yang mga salitang ganyang lalo na kung nasa harap nyo ang mga taong nasalanta ng baha.

The old man in the Congress has said he should make that visit. The news reporters echoed the sentiments of the people there in the flooded areas. Why can't the president accept the simple fact that he has lot to learn when it comes to running our country? Soldiers fight harder knowing his platoon leader is willing to fight side by side with them, even for just a fleeting moment! That's leadership.

wino

October 5th, 2011, 05:39 PM

xxxriainxxx

October 5th, 2011, 05:44 PM

so disagree ka kay Obama,Bush and other leaders around the world na kapag may disaster sila ang nauunang umaaksyon at personal na pupumunta sa lugar ng pinangyarihan and even cut short their trips if they are out of the country.that's weird.

I think that's unfair comparison, to make a President look like he is doing something pupunta sya dun. Sure the President must commiserate, but more than that I am looking for concrete action like how the LGUs cope with future disasters better. Bicol especially Albay have something like that in place - yung zero casualty. I think yung disaster preparedness and response ang mas importante.

wino

October 5th, 2011, 05:52 PM

^^ agree... LGUs should be more liable to floods and disasters. Sila tong mga tutulog tulog....

+1 to Albay.

dancethingy

October 5th, 2011, 07:15 PM

Is Roxas now backtracking on his assertion that all transport projects will be funded by ODAs and initiated by the government instead of PPPs????

What is going on??? How can anything get built when all that is going on are forecasts for when anything might get BID out and confusion as to what direction the government is going to in order to start up infrastructure development. WHAT IS GOING ON???

There is an assurance from DOTC Secretary Roxas and DPWH Singson that all infra projects will be completed. Well, we know that Roxas has an ambition to become the next President, so he will ensure that what he promised will be done.

Philippines Scales Down Plan to Offer Infrastructure Projects to Investors

By Karl Lester M. Yap - Oct 5, 2011 12:00 AM GMT+0800

The Philippines may offer at least two projects to investors under so-called public-private partnership starting this quarter, said Cosette Canilao, officer-in-charge of the program, scaling down a plan to provide 10 projects this year.

“Planning these projects takes a great deal of time to ensure their success,” Canilao said in an interview in her office in Manila yesterday. “We want to create a program that can become a legacy that would solve our nation’s infrastructure needs.”

Delays in the program may undermine President Benigno Aquino’s goal to bolster growth to as much as 8 percent annually to boost jobs and cut poverty. The Philippines competes with the rest of the region for foreign capital to develop its infrastructure as the government seeks to narrow the budget deficit from a record in 2010.

The Philippines may also invite bids to extend railway lines and operate airports after the first quarter of 2012, Transportation and Communications Secretary Mar Roxas said in an interview this week. These projects were earlier planned for this year.

Growth in the Philippines’ $200 billion economy slowed for a fourth straight quarter to 3.4 percent in the three months through June.

The government plans to narrow the budget deficit to 2.6 percent of gross domestic product, or about 286 billion pesos, in 2012, from a target of 3 percent, or about 300 billion pesos, this year.

To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

http://www.bloomberg.com/news/2011-10-04/philippines-may-offer-two-projects-this-quarter-canilao-says.html

Askal82

October 5th, 2011, 07:45 PM

Although a visit would be nice, Kintoy and RonnieR does have a point there, LGUs and government agencies are supposed to be the manifestations of action from the President. Hindi lang yung photoop.

^^ I also don't agree that the President should be with the victims. Pang photo op? He has his people to do these things. In fact, I noticed that the response teams of LGU in the pre-emptive evacuation have improved. DSWD is doing relatively okay during typhoon.

The best that he could do is to assure them of government's help and what measures to be done to minimize the casualty.

The long term solution to mitigate this is to clear the water ways of obstruction and develop a plumbing and sewage system to some remote towns in the country. Discipline through law enforcement is necessary.

InfinitiFX45

October 5th, 2011, 09:28 PM

Yokohama allots $650 million for Clark plant expansion :banana::cheers::banana::cheers::banana::cheers:

by Ma. Elisa P. Osorio (The Philippine Star) Updated October 06, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=734258

MANILA, Philippines – Yokohama Tire Philippines Inc. (YTPI) is investing an additional $650 million to expand its facility in Clark.

Clark Development Corp. (CDC) said the expansion will make Yokohama the largest tire manufacturer in the world.

CDC Vice President for Business Development Ernesto S. Gorospe said top officials of Yokohama Rubber Co. Ltd. have discussed expansion plans with President Aquino and CDC president Felipe Antonio Remollo during the President’s state visit to Japan last month.

President Aquino witnessed the MOU signing between Remollo and Yokohama Tire Philippines Inc. President and CEO Tetsuya Kuze and Yokohama Rubber Co. Ltd. Representative Director and President of Tire Group Hikomitsu Noji.

Under the plan, Yokohama is committing to invest $650 million in order to complete its expansion by year 2017, establishing in Clark the biggest tire plant in the world.

The expansion plan that will also generate 5,000 more jobs will increase the capacity of Yokohama from 22,000 to 40,000 tires per day, Remollo said.

This is part of the P27-billion investment of Yokohama announced last May. Upon completion, the extension of YTPI’s manufacturing plant will result in a significant increase in production capacity. By 2017, tires manufactured by YTPI will amount to approximately 17 million tires a year (50,000 tires/day) compared to the current production of seven million tires a year (21,000 tires/day).

The expansion also lead to an addition of job opportunities in the community, making the total working population projected to five thousand employees by 2017.

A portion of the first plant expansion will be first operated in 2013. The expanded area will be fully utilized by 2014.

With YRC’s approval of YTPI’s plant expansion, an area of 28.2 hectares will be added to the original 16.5 hectare-worth of YTPI perimeters. The total location area will add up to 44.7 hectares. YRC has already allocated an investment of 50 billion yen or P27 billion pesos for the plant expansion.

Established in April 30, 1996, YTPI is the first international company established in CFZ. Tires manufacture in the company are mostly exported to Europe, North America and other ASEAN countries.

Aside from Yokohama’s expansion plan, Remollo said he also discussed with the President the Clark Star project of the CDC.

Remollo said the Clark Star Center, otherwise known as the Clark Sports Training Amusement and Recreation Center, was presented to Japanese investor during the President’s state visit in Japan on Sept. 26.

During the state visit, Remollo had asked Japanese traders to fund the Clark Star Center, which will be established in a 200-hectare area at the Northeastern portion of the Freeport.

Wolf1968 ^_^

October 5th, 2011, 10:23 PM

i dont get why belmonte had to do that. so sa madaling salita.. dapat pumunta si pnoy dun at mag pa picture para pogi ang dating nya sa tao dahil nandun sya.. masyadong plastik ng dating.. kaya tayo puro poster at picture ng mga politiko kasi ganon ang utak nila.. mag papicture sa na salanta, mag mukang kawawa, mag pabasa sa ulan, lumusong sa baha.. at higit sa lahat. wag kakalimutan mag papicture habang ginagawa.. hahaha.. kakatawa naman nun.. i would rather command my officials to do those task, and take care of things na ako lang makakagawa.. kung pwede naman gawin ng iba un.. ung pag harap sa japan emperor kaya ba un ng LGU?.. eh ung sa baha at pag tulong sila ang nakalinya dun.. oo presidente si pnoy.. pero hindi sya superman para magawa lahat all in the same time.. kaya nga may mga LGU, officials, department. kasi hindi kaya ng presidente lahat.. all he can do specially kung malayo sya eh mag bigay ng orders sa mga official nya.. i guess.. magiging sayang sa oras kung pupuntahan nya un and decline or i cut ung flight nya sa japan. mawawala ba ung bagyo kung nandun sya. mabubuhay ba ung mga namatay kung nandun sya.. HINDI.. so i dont see the point of belmonte but pretty much old ways ng politiko para mag papogi.. na kakatawa naman na naniniwala tayo agad without analyzing ung sitwasyon.. mga kapatid.. isip isip nman.. sorry ang haba.. :)

InfinitiFX45

October 5th, 2011, 10:25 PM

Mitsubishi, Marubeni, Hitachi keen on rail, ports :banana::cheers:

by: DARWIN G. AMOJELAR Published : Thursday, October 06, 2011 00:00

http://www.manilatimes.net/index.php/business/top-business-news/8707-mitsubishi-marubeni-hitachi-keen-on-rail-ports

STATE-RUN Bases Conversion and Development Authority (BCDA) on Wednesday said three Japanese conglomerates expressed interest in financing the agency’s rail and airport infrastructure projects.

In a text message, Arnel Casanova, BCDA president and chief executive, identified the three as Mitsubishi Corp., Hitachi and Marubeni Corp.

He said the Japan International Cooperation Agency is also keen on BCDA’s projects. Cassnova joined President Benigno Aquino 3rd on an official working visit to Tokyo from September 25 to 28.

The BCDA official said the Japanese firms can finance the planned Makati-Taguig-Pasay Monorail Alignment, the express rail going to the Diosdado Macapagal International Airport in Clark, and an airport expansion project also in Clark.

The monorail system would link with the Metro Rail Transit Line 3, the Light Rail Transit Line 1, and the Philippine National Railways.

The proposed “fast rail” that would link airports in Clark and Manila would use the alignment of North Luzon Expressway and PNR.

The government of Japan through the Japan Bank for International Cooperation—the predecessor of JICA —funded the P34 billion Subic-Clark-Tarlac Expressway.

As of June, Japan was the Philippines’ biggest foreign donor with a 31.69-percent share of the total official development assistance commitments of $8.03 billion.

wino

October 5th, 2011, 10:32 PM

mwg12a

October 6th, 2011, 12:18 AM

Japanese companies should be INVESTING outside their country.. their currency is TOO STRONG right now.

Their currency is at a big advantage right now outside the country.
Investments abroad will create them more wealth + weaken their currency which is double beneficial for them.

I think they are doing this more now especially after the recent earthquake and tsunami they experienced. They probably don't invest much because they have enough people in their population and their technology is so advanced that they can design a facility efficient enough to be manned by just a few people but still get that quality of workmaship they have always been known for.

mwg12a

October 6th, 2011, 12:34 AM

so disagree ka kay Obama,Bush and other leaders around the world na kapag may disaster sila ang nauunang umaaksyon at personal na pupumunta sa lugar ng pinangyarihan and even cut short their trips if they are out of the country.that's weird.

Ang complaint kasi nang tao sa Bulacan and other parts, he went there late na daw at sandali pa. For me okay lang yun, kumikilos naman ang mga tao niya at may announcements naman from Malacanang.

I remember the 9/11 and Katrina flood in New Orleans, the US President did not visit the sites immediately.

Moral support naman ang role ng Presidente diyan kaya kung late at sandali okay lang. Yuong ipapagutos niya ang importante, kung parang ulam, sangkap ang importante hindi appearance lang.

Nuong 9-11 Si Former Mayor Rudy Guiliani ang talagang umaksyon ganoon din ang s New Orleans, direct constitutent nila ito may contact lang sila sa Central government para sa details. Parang duon sa Quirino Grandstand at kay Mayor Lim, palpak nga lang ang approach ni Lim kaya presidenti niya ang napahamak instead.

Parchie

October 6th, 2011, 02:05 AM

Marami talaga akong natutunan dito!

Merong clearing the water ways of obstruction, develop a plumbing and sewage system, at iba pa! Madali lang pala yon! Parang sa bahay lang pala at maraming plumber dito sa amin na pwede kunin para ma-solusyunan ang problema diya-an. Kung sa sewage system lang, kaya ng tubero dito yan.

Teka, teka. Sewage system ba talaga? Hindi kaya "sewerage system"?

Eastern Dragon

October 6th, 2011, 03:31 AM

Bago nio hanapin ang Presidente sa baha...

hanapin nio muna ang mga baranggay Captain... ang City Mayor tapos ang Governor..
asan din ba sila?

kailangan dumaan sa proper escalation ng problema.. just my 2 cents..

makiki -- BOINKS! ako hehe

:cheers::cheers::cheers:

this is the post of a sensible person . . . . . . during a lucid interval.

just joking dude. :lol::lol::lol:

seriously, i reserve my anger for the local officials. kung alam lang ng mga tao, local executives and congressmen spend more time partying in manila rather than doing actual work. :lol:

Perseus II

October 6th, 2011, 04:51 AM

Bago nio hanapin ang Presidente sa baha...

hanapin nio muna ang mga baranggay Captain... ang City Mayor tapos ang Governor..
asan din ba sila?

kailangan dumaan sa proper escalation ng problema.. just my 2 cents..

makiki -- BOINKS! ako hehe

ang mga LGU ang palpak, umaasa sila sa relief ng kapamilya at kapuso pero kapag sa waiting shed marami silang pagpagawa... yung mga dike sa Bulacan produkto ng hokus pokus .... yung sa Pampanga too much quarrying ... :ohno:

RonnieR

October 6th, 2011, 05:35 AM

RonnieR

October 6th, 2011, 05:40 AM

RonnieR

October 6th, 2011, 05:43 AM

I think that's unfair comparison, to make a President look like he is doing something pupunta sya dun. Sure the President must commiserate, but more than that I am looking for concrete action like how the LGUs cope with future disasters better. Bicol especially Albay have something like that in place - yung zero casualty. I think yung disaster preparedness and response ang mas importante.

I agree that Albay in Bicol Region has the best response team during typhoon. They really aim for zero casualty.

RonnieR

October 6th, 2011, 05:45 AM

wheel of steel

October 6th, 2011, 06:27 AM

I agree that Albay in Bicol Region has the best response team during typhoon. They really aim for zero casualty.

Mabilis pa sa Alas Kwatro ang pagka corrupt ng Governor dito.. tssskk... Kaya nga pagka may Bagyo, haping hapi si Gov. Supsop..hahaha.

Yun nga lang, di tumama dito si Pedring... Sori Gov....:lol::lol: Wala tayong relif.

xxxriainxxx

October 6th, 2011, 06:28 AM

:cheers::cheers::cheers:

this is the post of a sensible person . . . . . . during a lucid interval.

just joking dude. :lol::lol::lol:

seriously, i reserve my anger for the local officials. kung alam lang ng mga tao, local executives and congressmen spend more time partying in manila rather than doing actual work. :lol:

May nameet ako dati a few years ago, Vice Mayor ng isang bayan south of NCR, bangag sa ecstacy during a concert sa The Fort. Napaisip ako, this is where my taxes went. :ohno::ohno::ohno:

Pero si Noy, diba regular yan sa Opus? ;)

Kintoy

October 6th, 2011, 09:38 AM

so disagree ka kay Obama,Bush and other leaders around the world na kapag may disaster sila ang nauunang umaaksyon at personal na pupumunta sa lugar ng pinangyarihan and even cut short their trips if they are out of the country.that's weird.

Bush did not visit New Orleans and NY immediately . get your facts right. Did the PM of Japan visited Fukushima immediately after the incident? hindi di ba?

imbes na pagtuusan ng mga local officials ang disaster relief and recovery, security at preparation ng pagbisita ng presidente ang aatupagin, di mas lalong matatagalan ang pag-ayos na nasira.

minsan mag-isip naman kasi kayo bago kayo magtuligsa.

Eastern Dragon

October 6th, 2011, 10:01 AM

May nameet ako dati a few years ago, Vice Mayor ng isang bayan south of NCR, bangag sa ecstacy during a concert sa The Fort. Napaisip ako, this is where my taxes went. :ohno::ohno::ohno:

Pero si Noy, diba regular yan sa Opus? ;)

ano yan Opus? is it a bar? if it is, well, that ain't a surprise. kasi, si pnoy, mahilig sa chicks.

Eastern Dragon

October 6th, 2011, 10:02 AM

Bush did not visit New Orleans and NY immediately . get your facts right. Did the PM of Japan visited Fukushima immediately after the incident? hindi di ba?

imbes na pagtuusan ng mga local officials ang disaster relief and recovery, security at preparation ng pagbisita ng presidente ang aatupagin, di mas lalong matatagalan ang pag-ayos na nasira.

minsan mag-isip naman kasi kayo bago kayo magtuligsa.

:lol::lol::lol: ilang beses ko na rin nasabi yan. :lol:

RonnieR

October 6th, 2011, 10:05 AM

ano yan Opus? is it a bar? if it is, well, that ain't a surprise. kasi, si pnoy, mahilig sa chicks.

It's a high end bar at Resorts World Manila.

RonnieR

October 6th, 2011, 10:08 AM

German firms keen on solar energy in PH
abs-cbnNEWS.com
Posted at 10/06/2011 11:51 AM | Updated as of 10/06/2011 11:51 AM

MANILA, Philippines - Around 10 German companies are interested in investing in solar energy in the Philippines. The Philippine Embassy in Berlin said the 10 German companies are soon expected to visit the Philippines in a special program being organized by the German Agency for International Cooperation (GIZ).

The program is aimed at introducing German investors to potential investment opportunities in the country for renewable energy, especially photovoltaic solar power generation.

In a recent seminar-workshop organized by the German government, Ambassador Maria Cleofe Natividad told German businessmen about the recent positive developments on renewable energy technologies in the Philippines. This includes the passage of the Renewable Energy Act in 2008, the Philippines as a founder of the 2009 International Renewable Energy Agency (IRENA) in Bonn, and the ratification of the IRENA Statute in May this year.

"The Philippines aims to provide electricity to 90% of all households by 2017... This can only be made possible by harnessing solar energy that can reach the most remote communities," Natividad said.

In 2010, the installed solar power capacity of the Philippines was only 0.01% or one-ten thousandth of the total installed capacity nationwide. Natividad said this may appear to be negligible, but this can also be seen as having a huge potential for development and expansion.

http://www.abs-cbnnews.com/business/10/06/11/german-firms-keen-solar-energy-ph

xxxriainxxx

October 6th, 2011, 10:17 AM

ano yan Opus? is it a bar? if it is, well, that ain't a surprise. kasi, si pnoy, mahilig sa chicks.

Yep. Sa RW Manila. :)

Kintoy

October 6th, 2011, 10:42 AM

akala ko opus dei lol

xxxriainxxx

October 6th, 2011, 11:06 AM

akala ko opus dei lol

Nung una, yun din akala ko ng makita kong magcheck in (foursquare) sa Opus ang mga kaibigan ko. :D

xxxriainxxx

October 6th, 2011, 11:08 AM

Eastern Dragon

October 6th, 2011, 12:32 PM

depends on the type of business. germans, europeans or regardless of nationality, may mga corruption tendencies yan. hindi lang sa atin.
and businessmen will always be businessmen

rain34

October 6th, 2011, 01:34 PM

US think tank sees better chances for Charter change now (http://business.inquirer.net/23351/us-think-tank-sees-better-chances-for-charter-change-now)

By: Doris C. Dumlao
Philippine Daily Inquirer 6:33 pm | Thursday, October 6th, 2011

MANILA, Philippines—The fresh initiative to amend the Philippine Constitution now has a “fair chance” of succeeding this time around despite the lack of support from President Aquino, according to the New York-based think tank Global Source.

“That the current president is himself not warm to the idea of changing the Constitution, which his mother, freedom icon Cory Aquino, considered to be her greatest legacy, thus paradoxically improves the chances of it happening. While he will not champion it, he is not seen as standing in Congress’ way, provided it is limited in scope,” Global Source said in an October 3 commentary written by Filipino economists Romeo Bernardo and Margarita Gonzales.

Global Source welcomed news that leaders of the House of Representatives and the Senate would turn their attention to revising the Philippines’ 1987 Constitution in order to ease some of the limits currently placed on economic activity.

The think tank identified the main foreign equity limits on economic activity in the 1987 Constitution as those on the operation and management of public utilities (40 percent), exploitation of natural resources (40 percent), educational institutions (40 percent), advertising agencies (30 percent) and private land ownership (40 percent if a Philippine corporation). No foreign equity is allowed in media ownership.

The Senate and the House of Representatives have reportedly agreed to follow a “bicameral constituent assembly” method where both chambers would meet and vote separately following normal legislative processes, except that approved changes would be opened to a plebiscite.

“This willingness to tackle outdated provisions in the country’s charter is a welcome sign coming from the leadership of the two houses of Congress. While there has been wide recognition, especially in business circles, that easing such restrictions will help improve the investment climate, earlier attempts have been stymied by fears that Charter change or ‘Cha-cha’ would be used to lengthen term limits, including that of the President,” the report said.

Global Source said it’s likely that the new push for Charter change was being driven by concerns over a recent Supreme Court decision providing for a more restrictive reckoning of the nationality requirements in a case involving the Philippine Long Distance Telephone Co. (PLDT), the largest corporation in the country by market capitalization, one that could potentially affect other companies with significant foreign ownership as well.

The Global Source discussed fears that possible further rulings on reckoning what the Constitution considered foreign ownership would make the country even less competitive in attracting foreign investments.

“With the sudden urgency, we believe Cha-cha may actually have a fair chance of prospering this time around,” it said.

“Those pushing for the reform appreciate the need to run with the reform early in Mr. Aquino’s term while his trust rating is high and there is little yet to fuel the suspicion that the move will be used to extend electoral term limits of incumbents. Mistrust has been the toxic element that killed similar attempts during the past administrations,” it said

william :D

October 6th, 2011, 01:52 PM

s40

October 6th, 2011, 02:02 PM

http://www.philstar.com/Article.aspx?articleId=734370&publicationSubCategoryId=63

BOC trimming down collection target from P328 B to P278 B
By Evelyn Macairan (The Philippine Star) Updated October 06, 2011 12:00 AM Comments (9)

MANILA, Philippines - The Bureau of Customs (BOC) is trimming its collection target for this year and for 2012 as prospects of achieving its original goals remain dim, Commissioner Rufino Biazon said yesterday.

Biazon said that for this year, the BOC’s new collection target is P278 billion from the original P328 billion.

For next year, the BOC hopes to collect P315 billion from the original target of P365 billion.

He said the Development Budget Coordination Committee (DBCC) has approved the adjustments. The agency’s collection shortfall between January and August alone has reached P24.24 billion.

“We’re applying the reduction of the targets for the entire year, so our monthly shortfall collection would also be reduced,” Biazon said.

He explained that what would be reduced is the cash collection. The tax expenditure fund (TEF), or paper revenues from importation by other government agencies, would be retained. The TEF is a subsidy released by the Department of Budget and Management to government-owned and controlled corporations and state-run companies mainly to settle customs duties and other taxes arising from importation of goods.

Biazon said what’s good about making ambitious targets is that “we need to always challenge ourselves.”

The BOC is the second biggest revenue-generating agency, after the Bureau of Internal Revenue (BIR). The BIR’s collection target for the year is P940 billion.

Biazon’s predecessor Angelito Alvarez earlier estimated BOC’s full-year collection at only P295 billion as the country’s compliance with various free trade agreements as well as the effects of peso appreciation were expected to make a dent on revenues.

Meanwhile, Deputy Commissioner Gregorio Chavez, who is facing charges for grave misconduct and grave abuse of authority, has gone on leave even before the enforcement of a 90-day preventive suspension order.

“It seems that DepCom Chavez himself is obeying the suspension order… He has not been reporting to his office,” Biazon said.

He said Chavez had informed him of his intention to go on leave.

The case against Chavez and seven of his men in the Run After The Smugglers (RATS) team in the BOC stemmed from a complaint of harassment by officials of Sanyo Seiki Stainless Steel Corp. (SSSSC).

The seven RATS team members covered by the preventive suspension order were Christopher Dy Buco, Edgar Quiñones, Francisco Fernandez Jr., Alfredo Adao, Jose Elmer Velarde, Thomas Patric Relucio and Jim Erick Acosta.

Deputy Commissioner for revenue collection monitoring group Peter Manzano temporarily takes over RATS.

Executive Secretary Paquito Ochoa Jr. had given Chavez and his men 10 days to answer the charges and submit affidavits.

In its complaint, SSSSC claimed RATS operatives entered and searched its rented warehouses in Meycauayan, Bulacan on July 1 and in Dagat-Dagatan, Caloocan City on July 4 using spurious mission orders.

The RATS team was also accused of impounding a truck and goods owned by SSSSC on July 9 without any warrant.

BOINK! :nuts: sila nag define ng target tapos revised down..... galing nakakabilib.... Kapag bago akong Presidente ng isang Companya ang una ko gagawin eh ibaba ang revenue target ng Company dahil hindi ko kaya.... palakpakan!!

Kintoy

October 6th, 2011, 02:11 PM

that's still way better than Arroyo era

s40

October 6th, 2011, 02:16 PM

kapag ni performance rating ka ba sa company mo Kintoy sinasabi mo "at least hindi ako katulad ni x yung pinalitan ko"... ang performance rating mo depende sa action plan na pinag agreehan mo at ng companya mo, hindi sa ginawa nung dati....

ganun din si Pnoy ang performance rating niya at mga tao niya based ngayon. evaluated ngayon

s40

October 6th, 2011, 02:26 PM

boinks ngayon 4.5% nalang kahapon 5% pa nababasa natin...... sana naman parang tatoo na yan sa mata ni Pnoy at Mar Roxas...... Hindi obvious na kelangan na kelangan ng fiscal spending.... hindi obvious grabe

"With ample fiscal space, the government is expected to boost spending in the second half and catch up on delayed implementation of infrastructure projects," she said.

WB downscales PHL 2011 growth forecast to 4.5 pct
(philstar.com) Updated October 06, 2011 07:06 PM Comments (1)

MANILA, Philippine (Xinhua) - The World Bank (WB) has downscaled this year's growth forecast for the Philippines to 4.5 percent as the slowdown in the United States and Europe is hurting the country's exports.

In its latest Philippines Quarterly Update (PQU) released today, the WB said in view of the slower growth and weaker economic outlook in advanced economies, the Philippines is forecast to grow at 4.5 percent in 2011 and five percent in 2012. This is lower than the previous forecasts of five percent and 5.4 percent, respectively, for both years.

Despite the slight revision, the Washington-based lender remains confident that strong fundamentals will cushion the Philippines from the impact of a global slowdown. It cited that the current account surplus increased by 20 percent in the second quarter owing to higher remittances and net services receipts. Both foreign direct investments and portfolio inflows rose thanks to the country's growth prospects.

"To better insulate the Philippine economy from external shocks, it is important to maintain strong macroeconomic fundamentals and improve its competitiveness through diversifying exports, strengthening domestic competition, and improving productivity of the services sector," World Bank Economist Soonwha Yi said in a statement.

Yi expected private consumption to grow steadily on back of lower unemployment, higher government spending and sustained remittances.

"With ample fiscal space, the government is expected to boost spending in the second half and catch up on delayed implementation of infrastructure projects," she said.

Yi added that the services and industry sectors will be the main growth drivers as these sectors are "favored by a more upbeat business sentiment and with the full roll-out of infrastructure- related projects."

meron comment sa Philstar........ what are these mysterious projects.......... BOINKS.... sa sobrang tagal naging mystery na ang mga project tinamaan ng pweeeeeeeeehhhhhhhhh

Kintoy

October 6th, 2011, 02:31 PM

at least hindi 0.9% ang forecast

s40

October 6th, 2011, 02:33 PM

at least hindi 0.9% ang forecast

:nuts: pabayaan nalang natin mga readers sa forum mag determine sa sarili nila kung nakaka bilib pa etong Pnoy admin...

Kintoy

October 6th, 2011, 04:32 PM

mas bilib ako sa nagsasakit-sakitan dahil sa dami ng plunder cases

s_w_stars

October 6th, 2011, 05:06 PM

depends on the type of business. germans, europeans or regardless of nationality, may mga corruption tendencies yan. hindi lang sa atin.
and businessmen will always be businessmen

Well put.

InfinitiFX45

October 6th, 2011, 05:17 PM

World Bank trims Philippine growth forecasts :ohno:

abs-cbnNEWS.com Posted at 10/06/2011 5:56 PM | Updated as of 10/06/2011 8:00 PM

http://www.abs-cbnnews.com/business/10/06/11/world-bank-trims-philippine-growth-forecasts

MANILA, Philippines - The Philippines is being affected by the economic turmoil in the United States and Europe, but strong fundamentals are limiting the impact on the economy, the World Bank said on Thursday in its quarterly report on the Southeast Asian nation.

The World Bank has cut its growth forecasts for the country to 4.5% for 2011 and 5% for 2012, from 5% and 5.4% previously.

"To better insulate the Philippine economy from external shocks, it is important to maintain strong macroeconomic fundamentals and improve its competitiveness through diversifying exports, strengthening domestic competition, and improving productivity of the services sector," World Bank economist Soonwha Yi said in a statement.

The country has a strong external position, supported by remittances from millions of Filipinos working overseas and net services receipts, the report said, noting rising capital inflows in both direct and portfolio investment.

Private consumption was expected to grow steadily due to lower unemployment, higher government spending and remittances, Yi said, and the government had room to scale up spending on delayed infrastructure projects and its social agenda.

In the second quarter, the Philippine economic growth slowed to 3.4%, much lower than economists' expectations.

Sluggish growth was blamed on the surge in world oil prices; the prolonged weakness of the global economy and the social unrests in the Middle East and North Africa, which affected both exports and remittances; and the disasters in Japan, which also affected trade.

The central bank, for its part, cited low government spending early this year.

The government was targeting a gross domestic product (GDP) growth of 7% to 8% this year, but economists said it might just be around 5%.

Finance officials said the government would frontload spending in the second half of the year to make up for the slack in the first, given a lower-than-programmed budget deficit.

For the first seven eight of the year, the deficit amounted to P34.5 billion, way below the P234.4 billion programmed for the first three quarters to September, and the P300 billion for 2011.

InfinitiFX45

October 6th, 2011, 05:31 PM

Roxas unveils P500B infra plan :banana::cheers:

by Zen Hernandez, ABS-CBN News Posted at 10/06/2011 7:01 PM | Updated as of 10/06/2011 10:45 PM

http://www.abs-cbnnews.com/business/10/06/11/roxas-unveils-p500b-infra-plan

MANILA, Philippines – Transportation and Communications Secretary Mar Roxas unveiled on Thursday close to P500 billion worth of infrastructure projects that will be carried out through a 5-year plan.

Among the major projects are the Light Rail Transit (LRT) 1 extension plan to Cavite and the LRT 2 extension to Antipolo; the reconfigured North Rail project, international airports in Puerto Princesa, Laguindigan, Misamis Oriental and Bohol; port development in Davao; and the roll-on, roll-off (RORO) projects linking Subic or Batangas ports to China.

According to Roxas, the projects remain the same but the financing mechanism is different.

"The matuwid na daan is the matipid na daan,” he said.

Most projects are being reviewed and renegotiated and lopsided contracts are also being rewritten, like the Northrail Project.

Instead of just a train that will run from Caloocan to Mabalacat in Pampanga, based on the original plan, it has been revised to stretch out from Metro Manila to Clark, so that it is already near the airport.

Roxas said, after President Benigno Aquino III’s trip to China, the Chinese government seemed willing to renegotiate and continue the project.

The government is also suspending contracts on the RORO port project of former President Gloria Macapagal Arroyo.

The said contract is also being renegotiated and the government is also bent on paying only what is proper.

The Department of Transportation and Communications (DOTC) also intends to resolve problems concerning the Metro Rail Transit (MRT) and LRT. They will provide financing in order to rehabilitate and buy new trains and spare parts, track works, as well as improve maintenance.

The Sandigan ng Samahang Magsasaka, meanwhile, went “planking” in front of the DOTC office this morning, to protest the government's public–private partnership (PPP) program. The group claimed that Roxas and the Aranetas will benefit from DOTC projects such as the MRT7.

They said the Aranetas own the land where the 14th station of MRT7 will be built.

Around 400 peasant families will be evicted due to the project.

The farmers said this is a clear conflict of interest. But Roxas clarified that his family doesn't own the land in Bulacan.

InfinitiFX45

October 6th, 2011, 06:24 PM

US think tank sees better chances for Charter change now :banana::cheers:

by: Doris C. Dumlao Philippine Daily Inquirer 6:33 pm | Thursday, October 6th, 2011

http://business.inquirer.net/23351/us-think-tank-sees-better-chances-for-charter-change-now

MANILA, Philippines—The fresh initiative to amend the Philippine Constitution now has a “fair chance” of succeeding this time around despite the lack of support from President Aquino, according to the New York-based think tank Global Source.

“That the current president is himself not warm to the idea of changing the Constitution, which his mother, freedom icon Cory Aquino, considered to be her greatest legacy, thus paradoxically improves the chances of it happening. While he will not champion it, he is not seen as standing in Congress’ way, provided it is limited in scope,” Global Source said in an October 3 commentary written by Filipino economists Romeo Bernardo and Margarita Gonzales.

Global Source welcomed news that leaders of the House of Representatives and the Senate would turn their attention to revising the Philippines’ 1987 Constitution in order to ease some of the limits currently placed on economic activity.

The think tank identified the main foreign equity limits on economic activity in the 1987 Constitution as those on the operation and management of public utilities (40 percent), exploitation of natural resources (40 percent), educational institutions (40 percent), advertising agencies (30 percent) and private land ownership (40 percent if a Philippine corporation). No foreign equity is allowed in media ownership.

The Senate and the House of Representatives have reportedly agreed to follow a “bicameral constituent assembly” method where both chambers would meet and vote separately following normal legislative processes, except that approved changes would be opened to a plebiscite.

“This willingness to tackle outdated provisions in the country’s charter is a welcome sign coming from the leadership of the two houses of Congress. While there has been wide recognition, especially in business circles, that easing such restrictions will help improve the investment climate, earlier attempts have been stymied by fears that Charter change or ‘Cha-cha’ would be used to lengthen term limits, including that of the President,” the report said.

Global Source said it’s likely that the new push for Charter change was being driven by concerns over a recent Supreme Court decision providing for a more restrictive reckoning of the nationality requirements in a case involving the Philippine Long Distance Telephone Co. (PLDT), the largest corporation in the country by market capitalization, one that could potentially affect other companies with significant foreign ownership as well.

The Global Source discussed fears that possible further rulings on reckoning what the Constitution considered foreign ownership would make the country even less competitive in attracting foreign investments.

“With the sudden urgency, we believe Cha-cha may actually have a fair chance of prospering this time around,” it said.

“Those pushing for the reform appreciate the need to run with the reform early in Mr. Aquino’s term while his trust rating is high and there is little yet to fuel the suspicion that the move will be used to extend electoral term limits of incumbents. Mistrust has been the toxic element that killed similar attempts during the past administrations,” it said.

leofriends

October 6th, 2011, 06:31 PM

InfinitiFX45

October 6th, 2011, 06:33 PM

PH rental rates rising due to BPO demand :banana::cheers:

by: Daxim L. Lucas Philippine Daily Inquirer 4:21 am | Thursday, October 6th, 2011

http://business.inquirer.net/23305/ph-rental-rates-rising-due-to-bpo-demand

Rental rates for prime office space in Metro Manila trekked higher in the second quarter of the year, driven mainly by demand from business process outsourcing firms, according to a report of CBRE Philippines.

The property consulting firm said demand from “traditional” offices also helped boost the market and pushed prices of “Grade A” space up during the period.

“We believe this is just the start of the projected up-cycle for the Philippine property market as determined by real demand and strong macroeconomic fundamentals,” CBRE Philippines chairman and CEO Rick Santos said in a statement.

In the central business districts of Makati and Ortigas where traditional office buildings are concentrated, the rising demand from multinational and local companies is supporting the increase in rental levels, the company said.

Average office rent in Makati rose by 2.65 percent quarter on quarter to P809 per square meter/month, while Ortigas rental rates rose quarter on quarter to P554 per sqm/month.

According to CBRE, the rise in office rental rates has been more apparent in the BPO-dominant business districts of Alabang in Muntinlupa City and in Quezon City.

Average office rent in Alabang grew by 6.1 percent from the previous quarter to P501 per sqm/month. That in Quezon City rose by 3.1 percent to P516 per sqm/month.

Demand pressures also pushed rates higher in the Fort Bonifacio area—Bonifacio Global City and the McKinley Hill districts, with average rental rates now at P698 per sqm/month.

Surprisingly, virtually no tenants gave up their office space during the period despite the uptrend in rent rates. CBRE said that despite the higher rent, vacancy rates across the major business districts were kept below the 5-percent level.

“Office vacancy rates declined even with the growth in rental levels because of supply pressures,” Santos said, adding that so-called “pre-commitments” (where terms are set long before the actual space becomes available for use) were also active for offices that are still in the pipeline.

The sharpest decline in vacancy rates was recorded in the Fort Bonifacio district, which is now at 1.48 percent. Vacancy rate in Alabang stood at 3.08 percent in the second quarter and 2.79 percent in Quezon City.

In Ortigas, vacancy rate stood at 2.96 percent, while in Makati—which has the priciest rental rates in the country—recorded the highest vacancy rate at 4.6 percent.

Going forward, CBRE said the entire Asia-Pacific region will likely see business confidence remain “largely positive,” with companies continuing to hire new staff.

“However, the outlook for the regional economy continues to be overshadowed by the deteriorating economic situation in the United States and the Eurozone,” the property consulting firm warned.

“While economists expect [the] Asia-Pacific to record more rapid economic growth in 2012, this will be largely dependent on the revival of activity in regional laggards such as Japan and New Zealand. Major export-oriented and resources-led economies may be more vulnerable to the future weakening of global demand, should such a scenario occur.”

InfinitiFX45

October 6th, 2011, 07:51 PM

WB cuts Phl growth forecast to 4.5% :ohno:

by Ted P. Torres (The Philippine Star) Updated October 07, 2011 12:00 AM

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=734663

MANILA, Philippines - The World Bank (WB) has scaled down its growth outlook for the Philippines this year to 4.5 percent, from an earlier forecast of five percent, due to the continued economic woes in the US and Europe.

In its Philippine Quarterly Update released yesterday, the WB likewise projected the economy, as measured by the gross domestic product (GDP), to grow by a slower five percent in 2012, from the previous forecast of 5.4 percent.

“Increased uncertainty about global demand and a further slowdown in domestic investments pose significant downside risks to our GDP growth forecast,” the report noted.

It said the growth drivers this year remain the services and industry sectors, favored by a more upbeat business sentiment and the full roll-out of infrastructure-related projects.

“Capital inflows are expected to continue, but foreign direct investments (FDI) is projected to be moderate as foreign investors have become more cautious in light of the recent financial turmoil,” it added.

Nevertheless, the WB report said the Philippines is enjoying relative political stability and its fiscal position has improved.

It said consumption will be buoyed by falling unemployment, expansion of the conditional cash transfer (CCT) program, as well as sustained remittance inflows, which will boost the current account surplus.

The report added that the country’s trade deficit is likely to expand as imports pick up. However, gains will be partly offset by robust exports of services, particularly from business process outsourcing (BPO).

“To better insulate the Philippine economy from external shocks, it is important to maintain strong macroeconomic fundamentals and improve its competitiveness through diversifying exports, strengthening domestic competition, and improving productivity of the services sector,” WB economist Soonwha Yi said in a press statement.

“With ample fiscal space, the government is expected to boost spending in the second half and catch up on delayed implementation of infrastructure projects.”

The WB report said domestic investment is projected to expand to 21.8 percent of GDP for 2011 (from 20.5 percent in 2010), and to improve further to 23.1 percent in 2012, as the government accelerates the pace of its capital outlays and as business sentiment turns more positive.

InfinitiFX45

October 6th, 2011, 08:16 PM

World Bank reduces PH growth forecast :ohno:

Written by : Darwin G. Amojelar Senior Reporter Friday, October 07, 2011 00:00

http://www.manilatimes.net/index.php/business/top-business-news/8759-world-bank-reduces-ph-growth-forecast

THE World Bank on Thursday cut its economic growth forecast for the Philippines for this year and next year mostly because of the slowdown in the US and Europe.
In its Philippine Quarterly Update, the Washington-based lender projected that Manila’s gross domestic product would grow 4.5 percent this year, down from an earlier forecast of 5 percent.

For next year, the World Bank cut its forecast to 5 percent from an earlier estimate of 5.4 percent.

The lender’s projection is lower than the government’s target of between 7 percent and 8 percent.

The World Bank blamed the downward revision on the slower growth in the first half and the weaker economic outlook in advanced economies.

In the first half of the year, Philippine GDP expanded by only 4 percent.

“Our revised growth projection of 4.5 percent largely hinges on the government’s ability to carry out the implementation of delayed projects, and achieving an orderly resolution of the eurozone debt crisis and improved global trade environment,” the bank said.

The greater-than-expected weakness in global economic activity is estimated to cut down the bank’s growth forecast by at least 0.1 percentage points while subdued government spending is estimated to pull down the forecast by 0.2 percentage points—translating to a reduction of 0.3 percentage points from its forecast for a 4.2-percent GDP growth in case both events materialize.

Soonwha Yi, World Bank economist, said private consumption is expected to grow steadily, buoyed by lower unemployment, higher government spending and sustained remittances.

“With ample fiscal space, the government is expected to boost spending in the second half and catch up on delayed implementation of infrastructure projects,” Yi added.

The World Bank said the government’s zero-based budgeting process has generated sufficient fiscal space to scale up spending on priority social and economic agenda.

Domestic investment is projected to expand to 21.8 percent of GDP this year from 20.5 percent in 2010, and to improve further to 23.1 percent in 2012, as the government accelerates the pace of its capital outlays and as business sentiment turns more positive.

“On the supply side, growth for the full year 2011 is expected to come from the services and industry sectors, favored by a more upbeat business sentiment and with the full roll-out of infrastructure-related projects,” Yi said.

Ulrich Lachler, lead economist of the World Bank said the Philippines is enjoying relative political stability and a strong fiscal position. Capital inflows are expected to continue, but foreign direct investment is projected to moderate as investors have become more cautious in light of the recent financial turmoil, he said.

“To ensure inclusive growth or growth that benefits the poor, higher revenues through improved tax administration and reforms will enable the government to meet its priority spending targets, especially in public infrastructure and investment in human capital,” Lachler said.

The World Bank said the Philippines’ external position and macroeconomic fundamentals remain strong.

The current account surplus increased by 20 percent in the second quarter, owing to higher remittances and net services receipts.

“Net foreign direct investments increased in the first half and foreign reserves have surged to record highs thanks to strong capital inflows as well as sustained growth of remittances and income from investments abroad,” the lender said.

Attracted by relatively higher growth prospects and yield differentials, net foreign portfolio inflows soared through August, at $3.1billion, more than triple last year’s amount.

“To better insulate the Philippine economy from external shocks, it is important to maintain strong macroeconomic fundamentals and improve its competitiveness through diversifying exports, strengthening domestic competition, and improving productivity of the services sector,” Yi said.

dancethingy

October 6th, 2011, 08:21 PM

And the wait begins......

Im skeptical for good reasons.

I would like to see the terms being renegotiated with regards to Northrail and the RORO projects.

What changes are being made and why?? What made it disadvantageous in the first place and what were expert opinions...

We have the right to know. The Arroyo admin was poor in providing details regarding projects, what better way for this admin to set itself apart by giving us specifics regarding the renegotiations.

http://www.abs-cbnnews.com/business/10/06/11/roxas-unveils-p500b-infra-plan

Roxas unveils P500B infra plan
by Zen Hernandez, ABS-CBN News

Posted at 10/06/2011 7:01 PM | Updated as of 10/06/2011 10:45 PM

MANILA, Philippines – Transportation and Communications Secretary Mar Roxas unveiled on Thursday close to P500 billion worth of infrastructure projects that will be carried out through a 5-year plan.

Among the major projects are the Light Rail Transit (LRT) 1 extension plan to Cavite and the LRT 2 extension to Antipolo; the reconfigured North Rail project, international airports in Puerto Princesa, Laguindigan, Misamis Oriental and Bohol; port development in Davao; and the roll-on, roll-off (RORO) projects linking Subic or Batangas ports to China.

According to Roxas, the projects remain the same but the financing mechanism is different.

"The matuwid na daan is the matipid na daan,” he said.

Most projects are being reviewed and renegotiated and lopsided contracts are also being rewritten, like the Northrail Project.
Instead of just a train that will run from Caloocan to Mabalacat in Pampanga, based on the original plan, it has been revised to stretch out from Metro Manila to Clark, so that it is already near the airport.

Roxas said, after President Benigno Aquino III’s trip to China, the Chinese government seemed willing to renegotiate and continue the project.

The government is also suspending contracts on the RORO port project of former President Gloria Macapagal Arroyo.
The said contract is also being renegotiated and the government is also bent on paying only what is proper.

The Department of Transportation and Communications (DOTC) also intends to resolve problems concerning the Metro Rail Transit (MRT) and LRT. They will provide financing in order to rehabilitate and buy new trains and spare parts, track works, as well as improve maintenance.

The Sandigan ng Samahang Magsasaka, meanwhile, went “planking” in front of the DOTC office this morning, to protest the government's public–private partnership (PPP) program. The group claimed that Roxas and the Aranetas will benefit from DOTC projects such as the MRT7.

They said the Aranetas own the land where the 14th station of MRT7 will be built.

Around 400 peasant families will be evicted due to the project.

The farmers said this is a clear conflict of interest. But Roxas clarified that his family doesn't own the land in Bulacan.