The Philippine Economy - Compiled Threads [Archive] - Page 89

boypad

March 14th, 2011, 08:07 AM

Impact of Japan’s woes assessed

BusinessMirror Philippines
Monday, 14 March 2011 04:18
by Cai U. Ordinario and Butch Fernandez / Reporters
http://www.businessmirror.com.ph/home/top-news/8553-impact-of-japans-woes-assessed

THE 8.9-magnitude earthquake and ensuing tsunami that hit Japan on Friday will likely cause weaker oil prices and see a decline in Tokyo’s official development assistance (ODA) to countries like the Philippines, according to economists.

Senate President Juan Ponce Enrile, while agreeing with the forecast of lower ODA as Japan rechannels more resources to the rebuilding, sees the oil front being impacted differently, though. He said on Sunday that Japan, having suffered damage in its oil facilities and nuclear-energy plants, may boost oil importations, driving global prices higher.

While details on the extent of the disaster are not yet complete, former Budget secretary Benjamin Diokno expects the relief and reconstruction efforts will cause an upswing in construction-material prices in Japan.

Diokno thinks oil-product prices will decline, as well as the amount of ODA that the Japanese government extends to developing countries like the Philippines. Japanese ODA to the country accounts for more than 30 percent of the Philippines’ total ODA.

Meanwhile, Deputy Director General Rolando G. Tungpalan of the Neda’s National Development Office for Investment Programming said the country’s ODA committments have been steadily declining as more donors reduce aid for various reasons.

Tungpalan said Japan is not the only country that has been decreasing its aid to the Philippines. The decline in ODA is expected, he said, since the Philippines is no longer as aid-dependent as other developing countries.

The challenge, Tungpalan said, is for the Philippines to develop other sources of funding to undertake projects. He said these sources could be in the form of more public-private partnerships and an increase in domestic sources like government revenues.

“The more important thing now is how we and the international community can help Japan. That’s what partnership means,” Tungpalan said.

“Consumer spending will slow while business and government [will] spend more money for relief, investment and reconstruction. There will be [an] upward pressure on prices of construction materials and downward pressure on oil-product prices, the latter due to the slowing Japanese economy. ODA is likely to shrink as the Japanese government focuses on reconstruction of damaged physical facilities. This puts additional stress on Japan’s shaky fiscal house. I expect the yen to weaken in the days ahead,” Diokno said via SMS over the weekend.

First Metro Investment Corp. and University of Asia and the Pacific Capital Markets Research Center executive director Dr. Victor Abola said the decline in oil prices was already evident as prices fell on the news of the disaster in Japan.

Abola added that since Japan is a net importer of food, the effect on inflation in the Philippines will also be minimal. This will likely keep inflation in the coming months well within the Bangko Sentral ng Pilipinas’ expectation of 3.5 percent to 5.5 percent. 

Japan’s northeastern portion on the main island of Honshyu was hit by an 8.9-magnitude quake early Friday afternoon, but the extensive quake damage was not the only disaster. Minutes later, a 10-meter tsunami struck the coastal areas, particularly Sendai City, sweeping everything in its path. The quake and tsunami damaged a nuclear plant in Fukushima district, and an explosion late Friday killed four workers trying to cool down a reactor.

The Japanese disaster has revived calls from opponents of the proposed Bataan Nuclear Power Plant revival for the Philippine government to scuttle the BNPP and nuclear energy altogether.

On the economic impact of Friday’s disaster, Enrile noted that besides the huge ODA to Manila, Japan is also facing damage to its power plants and oil refineries, which could force it to import more oil, further driving up the price in the international market. Japan also relies on nuclear energy for half of its power requirements.

“Japan’s economy will slow down as they concentrate on the task of reconstruction and rehabilitation,” said Enrile. On the other hand, such reconstruction might require additional skilled workers and medical personnel, “so we need to study that, too.”

Philippine inflation outlook

Even before the disaster in Japan on Friday, Abola said inflation in the third quarter could reach 5 percent but will not reach 6 percent. This is largely due to the fact that food-price increases in February were mainly due to the heavy rains in the Visayas and Mindanao—something that may not be replicated in the coming months. He said any revision in the government’s macroeconomic targets may wait for the second half of the year. Abola expects a gross domestic product (GDP) growth of 6.2 percent to 6.3 percent this year.

“Since Japan is a net importer of food, the effect on Philippine inflation will be minimal. You may note that oil prices reacted with a fall when news of the tsunami came out. It is because their demand for oil is likely to ease,” Abola explained through SMS sent over the weekend.

No deployment ban

Two labor officials on Sunday quashed the possibility of banning deployment to calamity-stricken Japan, saying that affected areas appear to be isolated.

In separate interviews, Labor Secretary Rosalinda Baldoz and Philippine Overseas Employment Administration Administrator Carlos Cao both said it is unnecessary to temporarily halt the deployment of overseas Filipino workers there despite the threat of a nuclear meltdown. --With S. Fabunan
IN PHOTO -- CIVIL Aviation College students and other people use a rubber raft on Sunday to get food and other items from their dormitory that submerged following a catastrophic earthquake and tsunami in Sendai, northeastern Japan. --AP/MAINICHI SHIMBUN, NAOTSUNE UMEMURA

boypad

March 14th, 2011, 08:10 AM

Sony, Toyota Close Plants After Earthquake Damages Factories, Cuts Power

Bloomberg.net
By Terje Langeland - Mar 14, 2011 12:48 PM GMT+0800
http://www.bloomberg.com/news/2011-03-14/toyota-sony-factories-shuttered-amid-earthquake-damage-power-shortages.html

Japanese manufacturers including Sony Corp. and Toyota Motor Corp. closed plants today after the nation’s strongest earthquake damaged factories and crippled nuclear power plants, causing electricity shortages.

Sony, Japan’s biggest exporter of consumer electronics, halted operations at 10 factories and two research centers because of power outages and damages, said Mami Imada, a spokeswoman for the Tokyo-based company. Toyota, the world’s largest automaker, said it closed all 12 factories in Japan through Wednesday, and its auto-body makers’ plants are closed today. Honda Motor Co. said it would stop output at plants in four locations.

Japan worked to contain an emergency at a nuclear plant north of Tokyo as local police said the death toll from the March 11 earthquake and tsunami may top 10,000. Tokyo Electric Power Co., battling possible meltdowns at its nuclear reactors, planned rolling blackouts in Tokyo and eight surrounding prefectures to conserve power.

Profit Impact

“We don’t know how long it will take for manufacturers to return to normal operations, with the current situation at the nuclear power plants,” said Toshihiko Matsuno, a senior strategist at SMBC Friend Securities Co. in Tokyo. “If they can resume output, they can sell as the U.S. economy is signaling a recovery.”

Toyota’s profit may be reduced by 6 billion yen ($73 million) for each day it halts production, Goldman Sachs Group Inc. estimated in a report. Honda and Nissan Motor Co. may each see a reduction of 2 billion yen a day, according to the report.

Toyota fell 7.9 percent to 3,310 yen as of 1:35 p.m., headed for the biggest drop since December 2008. Sony plunged 8.9 percent to 2,557 yen, while Japan’s benchmark Nikkei 225 Stock Average declined 6.2 percent.

“It’s panic selling,” said Toshikazu Horiuchi, a market analyst at Cosmo Securities Co. in Tokyo. “No one knows the complete picture yet on how big the damage will be from the earthquake.”
Toyota, Toshiba

Toyota closed all 12 plants from March 14 to March 16 to make sure its employees and families are safe, said Shiori Hashimoto, a Tokyo-based spokeswoman for the Toyota City, Japan- based company. The company is conducting surveys of plants, it said in an e-mailed statement.

Toyota affiliate Denso Corp., Japan’s largest car-parts maker, shut almost all of its factories in Japan, said Goro Kanemasu, a company spokesman. The Aichi prefecture-based partsmaker hadn’t decided about operations tomorrow, he said. The shares declined 7.2 percent.

Canon Inc., the world’s largest maker of cameras, said yesterday it would suspend operations at eight production and development facilities in northern Japan. It fell 6.1 percent in Tokyo trading. Nikon Corp. halted four plants in Miyagi and Tochigi prefectures and is assessing the impact on earnings, it said today in a statement. Nikon shares dropped 9.1 percent.

Toshiba Corp. halted five plants due to power outages and closed one plant because of damages from the earthquake, the Tokyo-based manufacturer said. Shares of the company, which makes nuclear power plants, plunged 16 percent.
JAL, Asahi

Renesas Electronics Corp. halted operations at seven factories in the Tohoku and Kanto regions because of quake damage and outages, Makie Uehara, a spokeswoman for the Kawasaki-based maker of electronics components, said today by phone.

Fujitsu Ltd., the maker of semiconductors and computer equipment, halted 10 plants in northern Japan as well as the greater Tokyo region, it said today in a statement.

Japan Airlines Corp., the nation’s biggest carrier, said it would resume flights to some northern airports tomorrow, following cancelations after the earthquake.

East Japan Railway Co., which operates trains in the Tokyo region and northern Japan, was among the rail and subway operators that cut services by as much as 80 percent today around the capital.

Asahi Breweries Ltd., Japan’s biggest brewer by volume, will reduce production at a plant in Kanagawa prefecture by 50 percent because of blackouts, said Takayuki Tanaka, a spokesman for the Tokyo-based company. It has halted operations at factories in Fukushima and Ibaraki prefectures.

“The market will remain weak,” Matsuno said. “Japan’s economy will be hurt for a while, and then will show a big recovery on rebuilding efforts.”

boypad

March 14th, 2011, 08:13 AM

Rubber Tumbles, Trade Suspended, After Japan Quake Halts Car Production

Bloomberg.net
By Supunnabul Suwannakij - Mar 14, 2011 1:13 PM GMT+0800
http://www.bloomberg.com/news/2011-03-14/rubber-tumbles-trade-suspended-after-japan-quake-halts-car-production.html

Rubber futures tumbled, triggering a suspension of trade, after the worst earthquake on record in Japan forced car makers to halt production, raising concern demand may slump.

August-delivery rubber, the most-active contract, plunged 4.5 percent, or 17.9 yen, to 383.5 yen a kilogram ($4,665 a metric ton) on the Tokyo Commodity Exchange. The April-delivery contract tumbled as much as 30 yen to 378.4 yen, triggering a circuit breaker to halt trading for all contract months.

“People in Japanese markets are selling commodities now to get cash, and will probably continue doing so,” said Kazuhiko Saito, analyst at Tokyo-based commodity broker Fujitomi Co.

The Tokyo Commodity Exchange expanded the trading limit for rubber contracts to 40 yen from the previous settlement price, from 30 yen previously, the exchange said on its website.

Prime Minister Naoto Kan said Japan is facing its worst crisis since the end of World War II, as local media said the death toll from the 8.9-magnitude temblor and subsequent tsunami on March 11 may top 10,000. The Bank of Japan today injected 7 trillion yen ($86 billion) into the financial system.

“The widespread impact from the earthquake has soured market sentiment,” Chaiwat Muenmee, an analyst at Bangkok-based commodity broker DS Futures Co., said by phone today. “It has a direct impact on rubber because Japanese carmakers suspended production.”

Plant Suspension

Some of the nation’s largest manufacturers -- including Honda Motor Co., Nissan Motor Co., Sony Corp. and beermaker Sapporo Holdings Ltd. -- shut down facilities in northern Japan.

Toyota Motor Corp., the world’s biggest carmaker, will suspend production at its Japan factories March 15 and 16, spokeswoman Shiori Hashimoto said by phone today. Isuzu Motors Ltd, a Toyota Motor Corp. affiliate, will halt production at its two Japan plants until March 18, spokesman Koichi Ito said by phone today.

Hino Motors Ltd. will halt Japan factories until at March 16, spokesman Shigeru Ito said by phone today.

Nissan Motor said about 2,300 new vehicles were damaged by the tsunami. About 1,300 vehicles set for export to the U.S. at Hitachi port in Ibaraki prefecture, north of Tokyo, and 1,000 others at a service center further north in Miyagi prefecture were swept up in the waves. Nissan also reported minor damage to four factories and two offices and is checking on affiliates, the company said March 12.

Honda Motor will stop production from today at its Sayama, Mouka, Hamamatsu and Suzuka factories, the company said March 12. May-delivery rubber in Shanghai plunged by the daily 6 percent limit to 33,480 yuan ($5,096) a ton.
Government Talks

The Thai government plans to hold talks with exporters today to discuss measures to try to prevent a slump in local rubber prices, according to Deputy Prime Minister Suthep Thaugsuban.

The free-on-board price, or cost without freight and insurance for Thailand’s benchmark ribbed smoked sheet fell today for a eighth day, tumbling 7.1 percent to 150.25 baht ($4.94) a kilogram as buyers from China and India have delayed purchases, the Rubber Research Institute of Thailand said. The price reached a record 198.30 baht on Feb. 21.

The auctioned price of ribbed smoked sheet at a rubber trading center in the southern province in Songkhla plunged 18.6 percent to 105 baht a kilogram, while the price of latex declined 15 percent to 97 baht, the institute said.

3cr

March 14th, 2011, 08:56 AM

An earthquake in Japan
When the earth wobbled
The Economist
by K.N.C. and H.T. | TOKYO
http://www.economist.com/blogs/asiaview

BENEATH the Japanese archipelago lies a mythical catfish, brutish and capricious. For most of the time, its head is pinned down by a granite keystone, held in place by the Shinto god of the earth. But occasionally, the god drops his guard. Then the fish thrashes, convulsing the earth.

In mid-afternoon on March 11th a massive earthquake erupted, 24 kilometres (15 miles) down, off the north-east coast of Japan’s main island. A tsunami followed. Cars, ships and buildings were swept away. People in Tokyo 370 kilometres away poured out of buildings as high-rises swayed. An anxious roar went up in the shopping district of Omote-Sando as the first of the aftershocks struck. After wreaking damage along low-lying parts of the coast, the tsunami rolled across the Pacific, testing the Pacific-wide early-warning system set up after the Boxing Day tsunami in 2004. Shares and the yen both fell.

This 8.9-magnitude quake has been described as the biggest on record in tremor-prone Japan. NHK, the national broadcaster, has uncertain reports on the number of dead and missing, but the combined totals are believed to be in the hundreds. The broadcaster says whole villages in parts of Japan's north-eastern Pacific coast were swept away by a tsunami reaching seven metres high. Images showed waves churning through hamlets in the flat farming communities near the sea, carrying ships, buses and houses far inland. In Ishinomaki, Miyagi prefecture, a ship with 100 people abroad was washed away. Their whereabouts are unknown. One giant wave washed through an airport in Sendai, the capital of Miyagi, leaving 1,300 people stranded on upper floors within.

Japanese are drilled from childhood to deal with quakes. Coping with the chaos of the real thing is another matter. Bullet-train services were immediately halted. A huge fire blazed at an oil refinery on Tokyo’s outskirts and at least 50 fires have been reported elsewhere, including at factories belonging to Nissan and Sumitomo Metal. In Japan the fires caused by earthquakes, rather than the quakes themselves, are usually the main killers. But modern industries bring other earthquake-related concerns. At about 10pm local time, Yukio Edano, the chief cabinet secretary, issued a nuclear emergency warning for the Fukushima First Nuclear Power Plant in Fukushima prefecture. He said people within a 3km radius were being ordered to evacuate, while those living between 3km and 10km away were instructed to stay in their houses. He denied, though, that there was radioactive leakage.

The opposition Liberal Democratic Party, which has been doing its level best in recent weeks to topple the government of Naoto Kan, the prime minister, now says it will co-operate fully, including supporting special spending measures.

Tsunami warnings continue to be broadcast repeatedly on the television. Across Japan, millions braced for a miserable night of uncertainty. Electricity firms reported that in northern Japan, many homes were without power or phone lines; in the same area, snow is falling, and TV images showed people in evacuation shelters huddling in blankets. Tokyo got off relatively lightly, though most public transport ground to a halt, forcing commuters to walk often huge distances home. Shelves in the capital’s convenience stores were almost bare, with long lines of people attempting to buy snacks and drinks.

But it is worth bearing in mind that this is not the huge earthquake that seismologists say is long overdue in Tokyo. That is expected to ripple up from Shizuoka in the south. Tokyo sits above two faultlines and near another. Just south-west of the city, the Philippine Sea plate dives down under the Eurasian continental plate; right under the city, the Pacific plate dives under that.

Early estimates of damage from this earthquake are necessarily crude. The 6.8-magnitude Hanshin earthquake that struck Kobe in 1995 killed 6,400. The cost was put at Y10 trillion ($100 billion). Industrial production dipped only briefly. The stockmarket fell by 8% in the week following the quake, but rose later. Tohoku, the north-east region of Honshu island where today's quake struck hardest, accounts for 8% of the country’s GDP. The area is less densely populated than around Kobe, and less industrial. The quake, though very much larger, may prove less damaging, though horrific enough for all that.

___________________________________

After the earthquake: The tension mounts
by H.T. and K.N.C. | TOKYO
Mar 13th 2011
http://www.economist.com/blogs/asiaview/2011/03/after_earthquake

THE risk of a nuclear accident at a huge power plant in disaster-strewn north-eastern Japan has risen for a second day on March 13th. This time it involves a type of fuel known as Mox (mixed-oxide) that is considered highly experimental.

The government, which is under huge pressure to deal with the tragedy created by Friday’s earthquake, is also struggling to prevent panic over the potential meltdown of a second nuclear reactor. With what looked like tears in his eyes, Naoto Kan, the prime minister, said today that Japan was facing its worst crisis since the second world war and he urged its citizens to pull together.

As if that were not enough, Japan’s seismologists say there is a high risk of more big aftershocks in the coming days. In the areas worst hit by the quake, hundreds of thousands of people have been evacuated from their homes, and food and blankets are scare.

It is currently estimated that at least 2,000 are dead and missing after Friday’s earthquake unleashed a vicious tsunami that swept Japan’s northern Pacific coast. But that figure does not take into account 10,000 who the government acknowledged on March 13th are unaccounted for in one coastal area of Miyagi prefecture, called Minamisanriku. Aerial shots from television crews show a large community that existed there has now virtually disappeared under tidal water. Elsewhere in Miyagi and Iwate prefecture, hundreds more bodies have been dumped by the tsunami, news reports say, and some 450,000 people have been made homeless.

Mr Kan almost doubled the number of Special Defence Force troops he had ordered to the area, to 100,000. But relief efforts were hampered by destroyed roads and bridges, waterlogged airports and other disrupted lines of communication. An American aircraft carrier and emergency services from other countries joined the rescue effort, which underscores how bad the situation must be. The assumed death toll, which has already doubled in 24 hours, may rise much further yet. It would not be a surprise if it exceeds the 6,500 or so killed in the 1995 Kobe earthquake.

However hard it is to come to grips with the enormous devastation, another crisis is playing out in real time: the risk of a Three-Mile-Island-style radiation leakage at a nuclear-power plant in Fukushima prefecture, 250 miles north of Tokyo. Overnight, the cooling system at the third reactor at the Fukushima No. 1 nuclear power plant failed, and on March 13th Kyodo news agency cited the plant’s operator, the Tokyo Electric Power Company (Tepco), as saying that three metres of a Mox nuclear-fuel rod had been left above the water level. That raises the risk of a meltdown of the core reactor, which could lead to a nuclear catastrophe. Disconcertingly, Japanese anti-nuclear campaigners have fiercely opposed the introduction into Japan of Mox fuel, which is a mixture of plutonium oxide and uranium oxide, arguing, among other things, that plutonium is more unsafe than enriched uranium. The fuel was first used in the Fukushima plant last year. Five other reactors spread over two Fukushima plants have also experienced trouble with their cooling systems, and two (including the Mox one) have been doused with water—and possibly permanently crippled—to prevent overheating.

Yukio Edano, the government’s chief spokesman, said that it was possible the core reactor had been “deformed” by its exposure above water, but he denied that it was a meltdown. However, he said there were further complications. It was not clear whether the water was rising to cool the reactor, despite an injection of sea water. Pressure is also building up within the reactor, but the release valve is malfunctioning, he said. Given the potential build-up of hydrogen, he issued a warning that there could be another explosion of the type that destroyed the outer building of the plant’s first reactor on March 12th. But he said there was no danger to the thick, steel-and-reinforced-concrete container that surrounds the reactor, and he is downplaying the risk of a dangerous leak of radiation.

Mr Edano, who like Mr Kan is dressed in blue overalls to give the uniform-loving Japanese a sense of workmanship, is deftly trying to reduce the risk of panic around the country. His staff are telling foreign correspondents to reassure foreigners living in Japan that there is no need to flee Tokyo (the American ambassador has put out a similar message). The task is made harder by imprecise information on the levels of radiation that have leaked out and the dangers to the several dozen people near the Fukushima power plant who have so far been diagnosed as suffering from radiation.

Reportedly, levels of radiation have temporarily exceeded 1,000 micro sievert, which is twice the legal upper limit; but in many cases they have been little worse than an x-ray. The government insists the radiation comes from its release of pressure from the reactor container vessels, and is not dangerous to humans. It rejects assertion that the leaks are out of control. However, there is a general mistrust among many Japanese about the authorities’ willingness to admit to a serious radiation problem if it were to occur. It might, of course, accidentally play down the risk in its efforts to avoid panic. What’s more, Tepco, which provides most of the information on its Fukushima plant, has obfuscated shockingly in the past. Its reputation is unlikely to be burnished by the fact that residents of greater Tokyo and elsewhere, as well as businesses, were told to brace for extended power cuts in coming days. The government says power supply for such areas has fallen by a quarter, from 41m kilowatts per day to 31m, because of the quake-induced disruption.

On top of those concerns, the Meteorological Agency, which on March 13th upgraded its assessment of the size of Friday’s earthquake from 8.8 to 9.0, has also warned than in the next three days, there is a 70% chance of another big quake. The huge movement of sub-sea earth at 2.46pm on Friday led to a quake at three different epicentres, along a 500km stretch of sea. This was why the quakes were felt so broadly, and why there have been such frequent aftershocks.

A slew of businesses have decided to close, in part because of disrupted supply chains, but also because of the uncertainty over access to power. Toyota, Nissan, Honda and Suzuki will idle some or all factories. But the north-east is not Japan's industrial heartland, and factories in places like Kyoto, the centre of the country's high-end technology components, have not said they plan to close on Monday. Meanwhile, in a bid to shore up the financial system and ensure suitable liquidity, the Bank of Japan provided ¥55 billion in cash to 13 banks over the weekend, in case customers line up to get money on Monday morning. Though the economic cost of the crisis is hard to see—in large part because of uncertainty about the consequences of the overheating nuclear reactors—estimates place it above the ¥10 trillion (around $120 billion) damage of the Kobe earthquake in 1995.

3cr

March 14th, 2011, 09:00 AM

Global stock rally may withstand Japan quake
Business Mirror
Monday, 14 March 2011
http://www.businessmirror.com.ph/home/world/8542-global-stock-rally-may-withstand-japan-quake

Stocks in Japan may extend losses when trading resumes though the worst earthquake on record in the third-biggest economy may unlikely dent the two-year bull market in global equities.

The Nikkei 225 Stock Average will slide about 2 percent when trading begins, futures show. The domestic impact may be limited because lost production from the Tohoku region where the quake struck might not be enough to spur a recession, Bank of America Corp. said. The Bank of Japan pledged to ensure financial stability by providing liquidity.

The fastest global economic growth since 2007 and record US profits that helped spur the 95-percent rally in the MSCI All-Country World Index of 45 nations should be intact, investors said. While the quake adds to concerns such as violence in Libya and Europe’s debt crisis, shares may benefit from reduced inflation expectations as damage to oil refineries curbs demand for crude.

“It’s a very bad situation, but from a market standpoint it may not be so negative,” said Patrick Legland, the Paris-based global head of research and strategy at Société Générale SA, which oversees about $300 billion. “I expect the Japanese market to be down in the short term, but there is so much to rebuild that all in all it may be positive in terms of longer-term demand and investments.”

The Nikkei 225 tumbled 1.7 percent to 10,254.43 by the close March 11, which came 14 minutes after the 8.9-magnitude quake devastated areas of northeast Japan, killing more than 760. Futures expiring in June ended last week at 10,005 in Chicago, down from the closing levels of 10,075 in Singapore and 10,170 in Osaka, Japan.

The iShares MSCI Japan exchange-traded fund dropped 1.7 percent in the US on March 11. American depositary receipts of Tokyo-based Tokio Marine Holdings Inc., Japan’s largest property and casualty insurer by market value, plunged 8.2 percent, the most in two years. Tokyo-based Honda Motor Corp. and Nissan Motor Co. of Yokohama fell more than 2.2 percent.

Hitachi Ltd. of Tokyo, a maker of nuclear power plants, slipped 2.2 percent in the US.

The Tokyo Stock Exchange has a system of price limits that curbs how much stocks can rise or fall in a single day. The restrictions are determined based on the previous day’s closing price, according to the TSE web site.

Global stocks ended little changed as declines of 0.7 percent or more in China, Hong Kong and Australia were offset by a 0.7-percent advance in the Standard & Poor’s 500 Index. The MSCI All-Country gauge rose less than 0.1 percent to 336.73. US shares were boosted by a 1.5-percent drop in oil spurred by speculation the temblor would curb demand in the world’s third-biggest oil-consuming country.

Investors are trying to assess whether the quake will hurt Japan’s economy enough to derail worldwide growth spurred by more than $12 trillion pumped into the financial system by governments and central banks since 2008. Global gross domestic product (GDP) is forecast to expand 4.4 percent this year and 4.5 percent in 2012, according to the Washington-based International Monetary Fund (IMF).

Japan accounted for $5.4 trillion, or 8.7 percent, of world GDP in 2010, when the global economy expanded by 5 percent, the fastest pace since 2007, the IMF said. Japan may expand 1.5 percent this year, the fifth-worst rate among the world’s 24 developed nations, according to the IMF’s World Economic Outlook from October.

___________________________________________

Impact of Japan’s woes assessed
By Cai U. Ordinario and Butch Fernandez / Reporters
Monday, 14 March 2011
http://www.businessmirror.com.ph/home/top-news/8553-impact-of-japans-woes-assessed

THE 8.9-magnitude earthquake and ensuing tsunami that hit Japan on Friday will likely cause weaker oil prices and see a decline in Tokyo’s official development assistance (ODA) to countries like the Philippines, according to economists.

Senate President Juan Ponce Enrile, while agreeing with the forecast of lower ODA as Japan rechannels more resources to the rebuilding, sees the oil front being impacted differently, though. He said on Sunday that Japan, having suffered damage in its oil facilities and nuclear-energy plants, may boost oil importations, driving global prices higher.

While details on the extent of the disaster are not yet complete, former Budget secretary Benjamin Diokno expects the relief and reconstruction efforts will cause an upswing in construction-material prices in Japan.

Diokno thinks oil-product prices will decline, as well as the amount of ODA that the Japanese government extends to developing countries like the Philippines. Japanese ODA to the country accounts for more than 30 percent of the Philippines’ total ODA.

Meanwhile, Deputy Director General Rolando G. Tungpalan of the Neda’s National Development Office for Investment Programming said the country’s ODA committments have been steadily declining as more donors reduce aid for various reasons.

Tungpalan said Japan is not the only country that has been decreasing its aid to the Philippines. The decline in ODA is expected, he said, since the Philippines is no longer as aid-dependent as other developing countries.

The challenge, Tungpalan said, is for the Philippines to develop other sources of funding to undertake projects. He said these sources could be in the form of more public-private partnerships and an increase in domestic sources like government revenues.

“The more important thing now is how we and the international community can help Japan. That’s what partnership means,” Tungpalan said.

“Consumer spending will slow while business and government [will] spend more money for relief, investment and reconstruction. There will be [an] upward pressure on prices of construction materials and downward pressure on oil-product prices, the latter due to the slowing Japanese economy. ODA is likely to shrink as the Japanese government focuses on reconstruction of damaged physical facilities. This puts additional stress on Japan’s shaky fiscal house. I expect the yen to weaken in the days ahead,” Diokno said via SMS over the weekend.

First Metro Investment Corp. and University of Asia and the Pacific Capital Markets Research Center executive director Dr. Victor Abola said the decline in oil prices was already evident as prices fell on the news of the disaster in Japan.

Abola added that since Japan is a net importer of food, the effect on inflation in the Philippines will also be minimal. This will likely keep inflation in the coming months well within the Bangko Sentral ng Pilipinas’ expectation of 3.5 percent to 5.5 percent. 

Japan’s northeastern portion on the main island of Honshyu was hit by an 8.9-magnitude quake early Friday afternoon, but the extensive quake damage was not the only disaster. Minutes later, a 10-meter tsunami struck the coastal areas, particularly Sendai City, sweeping everything in its path. The quake and tsunami damaged a nuclear plant in Fukushima district, and an explosion late Friday killed four workers trying to cool down a reactor.

The Japanese disaster has revived calls from opponents of the proposed Bataan Nuclear Power Plant revival for the Philippine government to scuttle the BNPP and nuclear energy altogether.

On the economic impact of Friday’s disaster, Enrile noted that besides the huge ODA to Manila, Japan is also facing damage to its power plants and oil refineries, which could force it to import more oil, further driving up the price in the international market. Japan also relies on nuclear energy for half of its power requirements.

“Japan’s economy will slow down as they concentrate on the task of reconstruction and rehabilitation,” said Enrile. On the other hand, such reconstruction might require additional skilled workers and medical personnel, “so we need to study that, too.”

Philippine inflation outlook

Even before the disaster in Japan on Friday, Abola said inflation in the third quarter could reach 5 percent but will not reach 6 percent. This is largely due to the fact that food-price increases in February were mainly due to the heavy rains in the Visayas and Mindanao—something that may not be replicated in the coming months. He said any revision in the government’s macroeconomic targets may wait for the second half of the year. Abola expects a gross domestic product (GDP) growth of 6.2 percent to 6.3 percent this year.

“Since Japan is a net importer of food, the effect on Philippine inflation will be minimal. You may note that oil prices reacted with a fall when news of the tsunami came out. It is because their demand for oil is likely to ease,” Abola explained through SMS sent over the weekend.

3cr

March 14th, 2011, 09:59 AM

In light of the tragic earthquake in Japan, I just want to share the Earthquake Risk Zonation in Metro Manila:
Earthquake Risk Zonation in Metro Manila

http://i685.photobucket.com/albums/vv213/feistyradical/metromanilafaultlinemap.gif

CNN Report: What will happen to Manila if a major earthquake strikes?
Mon, Mar 14, 2011 8:58 AM PHT
http://beta.ph.news.yahoo.com/happen-manila-major-earthquake-strikes-20110313-175800-959.html

A CNN report released April 2010 documents Manila's earthquake vulnerability...

In the wake of the massive 8.9-earthquake that hit Japan last week, the lingering question now on every Filipino's mind seems to be, "are we next?" And if so, "what will happen to us?"

Since the 7.0-magnitude earthquake struck Haiti in January 2010, local geologists have been anticipating a major earthquake to hit Manila termed as the "Big One."

CNN released a report last year that documented Manila's earthquake vulnerability citing the Marikina Valley fault as "ready to give in," according to Geologist Mahar Lagmay, an associate professor at the National Institute of Geological Sciences at the University of the Philippines. Lagmay said a 7.0-earthquake would be like a "1,000 Nagasaki atom bomb explosion underneath the Earth's surface along the Marikina Valley Fault."

In an ABS-CBN News report, director Renato Solidum of the Philippine Institute of Volcanology and Seismology warned residents living near the Marikina fault line that buildings and houses could collapse when the ground starts to shake. Meanwhile, an Inquirer report published today, March 14, listed catastrophic scenarios cited by Pacific Strategies and Assessments should a high-magnitude earthquake hit Manila, which could include: an estimated 117,000 homes that would "either collapse or suffer damage, rendering 1.2 million homeless," damaged water reservoirs and purification plants that would immediately cut 4,000 water supply points, and "at least 30 kilometers of electric cables cut, removing the supply of power instantly across the metropolis," among others.

Moreover, the 2010 CNN report said, "If a 7.2-magnitude earthquake hit here in Manila, it could damage 38% of homes, a third of public buildings, and cause more than 50,000 deaths."

For more on this story, log onto CNN, ABS-CBN News and Inquirer.net.

________________________________

Metro Manila may crumble if 7.2 quake strikes – JICA
Manila Bulletin
http://ph.news.yahoo.com/metro-manila-may-crumble-7-2-quake-strikes-20110312-030759-133.html

MANILA, Philippines - Light Rail Transit (LRT) structures are designed to withstand a 7.9-magnitude earthquake; however, a Japan International Cooperation Agency (JICA) study revealed that Metro Manila would crumble if a 7.2-magnitude earthquake strikes.

The JICA study, conducted with the World Bank and the Asian Development Bank, was presented during a hearing last month of the Senate Committee on National Defense and Security chaired by Senator Francis Escudero.

Expressing concern, Escudero reiterated his call on the urgency to update and strengthen the disaster risk and management capacity in Metro Manila.

Escudero made the call after a tsunami, triggered by a 8.9-magnitude earthquake, slammed Japan and left a swath of destruction and caused fears in coastal areas around the world.

He said there should be a comprehensive inventory of resources in order to appropriately respond to this type of disaster and its aftermath.

"We need to have a thorough audit of what expertise and logistics the agencies under the National Disaster Risk Reduction Management Council (NDRRMC) have so we can enhance, augment, and close whatever gaps are there in relation to our coping response and capability in the event of a natural disaster such as a strong earthquake," Escudero said.

The JICA study said Metro Manila was not prepared to deal with a 7.2-magnitude earthquake in terms of existing resources and given old building structures around and within the metropolis.

Such magnitude, the study showed, will result in major fires in Manila, Pasig, and Quezon City. Fire hydrants will not be enough that it would take seven days before authorities can declare "fire out" as major fire engines come from Quezon City and Pasig City, areas which are also at high risks.

Light Rail Transit Authority (LRTA) Spokesman Hernando Cabrera said a 2003 study made by the Philippine Institute of Volcanology and Seismology (Phivolcs) showed that the strongest temblor that could hit the country is 7.2, a magnitude that is lower than the maximum magnitude LRT structures could handle.

He explained that LRT's design was based on the California Building Code because the Philippine seismic condition is similar to that of California.

"Just a while ago, I heard (Phivolcs Director Renato) Solidum as saying over the radio that the maximum earthquake that could hit the country is 7.2," Cabrera said.

With this, he said, it could be concluded that the LRT designs are strong enough to stand earthquakes that could hit the country," he added.

The problem is, Metro Manila can't probably withstand an earthquake with magnitude 7.2 and above.

At a Senate hearing Wednesday, Solidum underscored the need for earthquake preparedness as he raised the probability of a strong earthquake hitting Metro Manila and certain provinces in Northern and Central Luzon.

Solidum said, citing a study called the "Metropolitan Manila Earthquake Impact Reduction" conducted by Phivolcs, that a 7.2-magnitude earthquake could devastate 40 percent of residential areas and 14 percent of high rise buildings in Metro Manila.

Solidum cited the Marikina fault line, now known as the Valley Point System, which runs from Sierra Madre to Sta. Rosa, Laguna. The line starts from the Sierra Madre and runs through Bulacan, Rodriguez, Rizal, Quezon City, the eastern side of Metro Manila, including Pasig, Taguig, Muntinlupa, San Pedro, and Sta. Rosa in Laguna and ends in Carmona Cavite.

He said a fault is classified active because it moved within the last 10,000 years. He, however, said that since it is locked now the probability of having it moved now is close to zero.

"But of course we need to prepare," Solidum added. According to him, historical and geological records show that the Marikina fault line had moved four times within the past 1,400 years with an interval of 200, 400, and 600 years.

________________________________________

‘Big One’ Is Possible But Metro Is Unprepared
BY AUBREY STA. CRUZ MAKILAN

Here’s something that the country’s national leaders should be bothered about: If a major earthquake were to hit Metro Manila today, the devastation would be so big even disaster response authorities cannot simply cope with it. And it even looks like disaster preparedness occupies a low priority among officials down to the municipal level.

Recent reports gathered by Bulatlat show that up to 35,000 residents of Metro Manila would die and up to three million others would need to be evacuated. In addition, some 175,000 buildings would be damaged. The pressure of collapsed buildings and the inability to rescue those who would be trapped inside would cause most of the deaths.

Distribution of active faults and trenches in the Philippines

With its current population of 10 million, Metropolitan Manila, which is composed of 13 cities and four municipalities, is densely populated with several clusters and districts having high-rise buildings close to each other. Investigations done by various disaster units and fire departments a few years ago found many buildings did not comply with construction standards and that these are prone not only to fires but also to damage by earthquakes of any scale.

One of the reports gathered by Bulatlat, the Metropolitan Manila Earthquake Impact Reduction Study (MMEIRS), cites “many research studies (indicating) that active phases of the (West) Valley Faults (formerly the Marikina Valley Faults) are approaching and that the estimated magnitude will be around 7 or more.” But MMEIRS also raised the possible intensity from 7 to even 9, which could be “devastating.”

The study projected the “big earthquake” to be “unlike any tragedy seen or imagined in Metro Manila.”

Asked for comment, however, a scientist-environmentalist theorized that such studies could be pressing the panic button now just to allow certain insurance companies to profit from a sudden surge of building insurance orders and the like.

Largest impact

MMEIRS, a Japan-funded study that was begun in August 2002, identified the West Valley Fault, which lies just northeast of Manila, as “the fault expected to cause the largest impact in the metropolis.” The West Valley Fault traverses Marikina town, Pasig going to Muntinlupa up to the south.

The Fault, other studies showed, caused at least two major earthquakes within the last 1,400 years. No earthquake is known to have taken place along the West Valley Fault after the 16th century. But based on the estimated return period of less than 500 years, the Fault is due to exhibit dangers this century – or even within the next few years, if the estimates of an official of the Philippine Institute of Volcanology and Seismology (Phivolcs) are valid.

Dr. Norman Tungol of Phivolcs’ Geology, Geophysics, Research and Development Division (GGRDD) estimated the Fault’s movement of recurrence at 200-400 years and based on this, he told Bulatlat, it is due for another movement.

Tungol said however that since studies have a big margin of error, this projection “could be within the next few years, (or) few tens of years.” He also said that even if there is no need for the people to panic because there is no timetable yet, “dapat mag-prepare because it’s inevitable.”

He confirmed that an earthquake with intensity 8 or 9 could be expected in the Valley Fault with a possible magnitude of 7.2 because of the lengthy fault.

Another Phivolcs scientist, Dr. Elena Bautista, noted however that the MMEIRS study found no pattern for the frequency of earthquakes occurring in the West Valley Fault.

A noted engineer, Dr. Arthur Saldivar-Sali, saw MMEIRS’ assertion that “active phases of the Valley Faults are approaching” as vague. He noted that the study, which he admits he has never seen, was apparently based on “deterministic analysis” which focuses on the characteristics of the movement of a fault and can be a prejudgment based on studies done or merely on gut feel that has no scientific basis at all.

Saldivar-Sali is a member of the Council of Engineering Consultants of the Philippines (Cecophil), a group of corporations and companies doing civil engineering designs and foundations.

Probability theory

Saldivar-Sali, a former UP professor who is also now with the Geo-Technica Consultancy Group, told Bulatlat that he tends to believe in the “probability analysis” of former Phivolcs Director Raymundo Punongbayan. Shortly after the Mt. Pinatubo eruption in 1991, Punongbayan told of a higher probability of a major earthquake on the Valley Fault based on its rare movements. Since lesser energy is released in the friction of rocks, more energy is stored, like a rubber band, preparing for a big snap.

The higher the percentage of the probability of an earthquake, the dangerous it would be, Saldivar-Sali said.

Punongbayan also cited the danger of building anything five kms near the fault. The director’s warning caused alarm among the business community and Marikina local officials asked that the fault be renamed “West Valley Fault” instead.

In layman’s terms, a magnitude of 7.2 can be compared to a bomb explosion, Saldivar-Sali said. In exponential form of 10, a magnitude of 1 is equivalent to one ton (1 x 100), magnitude 2 to 10 tons (2 x 101), 3 to 300 tons (3 x 102), and so on. A 7.2 magnitude if multiplied to 106 is equivalent to 7.2 million tons of bomb explosion.

MMEIRS actually aimed to design a master plan for earthquake impact reduction in Metro Manila leading to the holding of training seminars on earthquake preparedness. Funded by the Japan International Cooperation Agency (JICA-Philippines), the study was supported by the Metropolitan Manila Development Authority (MMDA), the Department of Science and Technology (DoST), Phivolcs and JICA contractors Pacific Consultants International, Oyo Corporation, and Pasco Corporation.

Scientists from Phivolcs, the University of the Philippines as well as from Japan participated in the study. Due for completion last March, the report is being finalized in Japan, according to Cora Macasieb, Special Operations Officer II and acting division chief of the Directorate for Special Operations of the Metropolitan Manila Disaster Coordinating Council (MMDCC).

Separate studies on earthquake are also being done in cooperation with China, Japan and the United Nations Development Program (UNDP).

Among others, three areas were tested under the MMEIRS study: Mataas na Lupa in Malate, Manila; Ugong, Pasig; and Cupang, Marikina. Studied were Metro Manila’s three fault lines, namely, the West Valley Fault, the Manila Trench and Manila Bay.

Analyzed were the areas’ earthquake history, length of the fault and vulnerability to earthquake. Damage scenarios and estimates of costs of destruction were also done.

Impact

The seismic intensity generated by the West Valley Fault earthquake and the damage felt in an area varied from place to place. The intensity may range from 7 in Quezon City, almost 8 and 9 alongside Marikina River and Manila Bay, and 8 at west of Metropolitan Manila and 7 at other areas. Based on the Phivolcs Earthquake Intensity Scale (PEIS), intensity 7 is “destructive,” while 8 and 9 are “very destructive” and “devastating,” respectively.

Aside from the estimated death toll, the West Valley Fault earthquake would cause injuries to 118,200 persons, the study reveals. MMDC’s Macasieb said that the death toll would rise if the earthquake occurs during office hours where most of the people are working inside buildings including those who would come from the province to process various papers in the metropolis.

The number of buildings expected to be destroyed by the Manila Trench earthquake would reach about 5,000 while 16,000 for the Manila Bay fault. The West Valley Fault earthquake will cause the collapse of buildings in northeastern Quezon City, western Marikina, eastern Pasig, Muntinlupa-Laguna Bay and Mandaluyong-Makati. Evacuation would be difficult in the metropolis’ fringes particularly in the north, Taguig and Las Piñas, the MMEIRS study also found.

Residential buildings around the Malacañang in Manila and the House of Representatives in Quezon City would be severely damaged. Other infrastructures such as bridges and power posts will also be destroyed.

The danger of spreading fire to the Malacañang presidential office is not ruled. Liquefaction around the House area might take place. Even the MMDA building would be severely damaged, the study adds.

Collapses would lead to electricity short circuit, petroleum and LPG leakages from storage tanks, among others, that would cause fire. Areas highly vulnerable to fire would be Valenzuela, Caloocan, and south of Quezon City west intersection.

Damages to the Angat reservoir and water purification plant would likely happen, causing a long-term stoppage in water supply. Public transportation facilities such as airport runways would be closed, leaving only helicopters available for operations. Ports in the North and South harbors would be damaged and tilted by liquefaction, making these inaccessible for loading and unloading. Damages would likely be expected on roads and bridges.

Including victims of fires and liquefaction caused by the earthquake, the study estimates the number of refugees or evacuees at three million. The figure would include 1.3 million persons who would be uprooted from their homes if the aftershock would last about seven days.

After liquefaction, there would be a possible regional separation. The western part of Metro Manila would be isolated from other parts of the metropolis. The same thing would happen to the northern and southern parts due to building collapse especially in the area intersecting Makati and Mandaluyong. Meanwhile, all road networks running east-west that are on the fault would be broken.

boypad

March 14th, 2011, 10:51 AM

^^ Totoo pala yun news that some part of PPP investment will be coming from private employees SSS fund contribution. Hay..

Philippines May Raise $4.6 Billion to Help Fund Roads, Rails

Bloomberg.net
By Clarissa Batino - Mar 14, 2011 3:07 PM GMT+0800
http://www.bloomberg.com/news/2011-03-13/philippines-may-raise-4-6-billion-to-help-fund-building-of-roads-rails.html

The Philippines may raise as much as 200 billion pesos ($4.6 billion) from state-owned financial institutions for a fund that private companies can tap to finance road, rail and port projects, Economic Planning Secretary Cayetano Paderanga said.

“We want to tap the liquidity in the domestic market and avoid currency risks,” Paderanga said in an interview on March 12 on Cagragay Island in Luzon, where he spoke to a group of local fund managers. The Asian Development Bank is advising the government on the creation of the fund, he said.

National Development Co., the nation’s investment agency, will probably issue debt to state-owned Development Bank of the Philippines, Land Bank of the Philippines, the Government Service Insurance System and the Social Security System to create the fund, Paderanga said. The four financial institutions will also be able to issue debt themselves to contribute to the fund, he added.

Budget deficits in 22 of the past 26 years have capped state spending on infrastructure, prompting President Benigno Aquino to start a $16 billion development plan to bolster investment.

The Philippines may defer a plan to sell Samurai bonds in the first half following the earthquake and tsunami in Japan, and will take its cue from the Japan Bank for International Cooperation, Aquino’s spokesman Ricky Carandang said today.

The government is seeking central bank approval to sell up to $1.5 billion of dollar-denominated bonds, a government official who declined to be identified, said on March 11. The government plans to borrow 773 billion pesos this year, of which 73 percent will come from the domestic market.

‘Not as Critical’

“The good thing is, it’s not as critical for us to go out” and raise funds overseas, Paderanga said, citing the more than 1.5 trillion pesos deposited at the central bank. The state may provide loans from the fund with tenures of up to 25 years for approved infrastructure projects, he said.

The government will invite private industry to build $1 billion worth of roads and railways this year to help achieve its goal of 7 percent to 8 percent growth, Paderanga said.

National Development may start issuing bonds this year and will raise funds only when needed, he said. Development Bank plans to sell $300 million of dollar bonds, President Francisco Del Rosario said March 7.

The planned infrastructure projects won’t immediately bolster growth “but will help achieve sustainable expansion in the longer term,” Paderanga said.

The yield on the 7 percent peso bond due January 2016 rose five basis points to 6.25 percent, the highest in more than a week, according to Tradition Financial Services. A basis point is 0.01 percentage point.

Inflation, Growth

The government is monitoring the effect of rising oil and food prices on consumption and growth, Paderanga said. Inflation accelerated to 4.3 percent in February from a year earlier, the fastest pace in nine months.

“Five percent growth this year is something we can attain,” Paderanga said. “It’s a decent number. We’re observing developments” including the Middle East tension and the impact of the earthquake in Japan, he said. The economy grew 7.3 percent in 2010, the fastest pace in more than three-decades.

Bangko Sentral ng Pilipinas will consider the implications of the Japan earthquake when it reviews monetary policy on March 24, Governor Amando Tetangco said in an e-mail yesterday.

The Philippines has lagged neighbors in attracting foreign direct investment, luring $1.95 billion in 2009 compared with $4.88 billion for Indonesia and $5.95 billion for Thailand, according to the United Nations 2010 World Investment Report.

“Our savings rate is higher than our investment rate,” Paderanga told members of the Fund Managers Association of the Philippines on March 12. “This is quite embarrassing.”

RonnieR

March 14th, 2011, 11:11 AM

Splash is doing good. :)

Splash putting up Uganda unit; enters coffee business
BusinessWorld
Posted at 03/14/2011 3:27 AM | Updated as of 03/14/2011 3:28 AM
Tweet

MANILA, Philippines - Personal care products manufacturer Splash Corp. is pushing ahead with expansion plans for the year with the establishment of a subsidiary outside Asia as well as entry into the coffee business.

In a disclosure to the Philippine Stock Exchange on Friday, the company said its board of directors had approved the establishment of a subsidiary in Uganda, a landlocked country located in East Africa that boasts of coffee as its main export.

The homegrown personal care products maker also announced the acquisition of a coffee brand, disclosing that the maximum investment for the acquisition would cost the company $400,000. This was aside from product registration costs of P3.2 million.

Earlier this year, the listed company -- which has pegged capital expenditures for the year at P426 million or 11 times higher than the previous year -- established a unit in Singapore that will look for acquisitions as it tries to firm up distribution and acquisition plans both locally and in the Southeast Asia market.

Splash Global Pte. Ltd., the newly created Singapore-based unit, was established for possible international acquisitions. It will also serve as a vehicle for possible mergers and overseas joint ventures. Splash also formed Splash H & B Sdn. Bhd. for its distribution operations in Malaysia.

The listed company expects revenues for this year to go up by 20% compared with last year’s growth projection of 15%.

The firm has yet to release its 2011 financial statement but the company expects revenues to have reached at least P3 billion, up from P2.71 billion of the previous year. Last year’s performance was said to be due to a favorable political and economic environment.

Plans for this year include expansion of plant capacity, improvement of facilities and enhancement of management information systems for international and direct selling operations.

The company, which was formed in 1991, is into the development, bottling, packing, and marketing of cosmetics, beauty, and pharmaceutical products in the Philippines and abroad. Splash products and brands are classified into four categories: haircare, skincare, “naturals,” and health and wellness.

Since entering the international market in 1998, Splash products are now sold in more than 45 countries including Australia, Canada, Hong Kong, India, Iran, Japan, South Korea, and the United States. In Asia, Splash products are now sold in Indonesia, Malaysia, Vietnam, Myanmar, Laos, Cambodia and the Middle East.

Shares in Splash, whose brands include Vitresse, Control, and Skin White, stayed at P2.38 apiece last Friday.
http://www.abs-cbnnews.com/business/03/13/11/splash-putting-uganda-unit-enters-coffee-business

Parchie

March 14th, 2011, 11:34 AM

boypad

March 14th, 2011, 01:24 PM

Government must get a grip on the big ‘what-if?’

BusinessMirror Philippines
Editorial
Monday, 14 March 2011 04:07
http://www.businessmirror.com.ph/home/opinion/8548-editorial-government-must-get-a-grip-on-the-big-what-if

The piece we published in our Sunday edition yesterday presented us with a possibility that could be just as scary, swift and sweeping as an oncoming tsunami: the devastating impact of a sudden return of our overseas Filipino workers (OFWs) in the Middle East as a result of the turmoil there.

Indeed, “Beyond Libya: What if the OFWs come home en masse?,” written by Rene Ofreneo, Joy Hernandez and Isabelo Samonte, discussed a scenario that should resonate across economic lines in a country that not only survives but thrives on its migrant workers’ remittances.

The Philippines depends on remittances perhaps more than any country in the world. We are the third-highest remittance-recipient country, after India and Mexico, and the highest when remittances are measured as ratios to population, gross domestic product (GDP) and exports, according to Ernesto Pernia of the UP School of Economics.

Money transfers from Filipinos working all over the world account for at least 10 percent of our country’s GDP, the second-largest source of foreign capital after value-added exports like electronic components, and a major source of private consumption, which, in turn, accounts for 75 percent of GDP. Remittances virtually made the economy recession-proof as other countries were caught spinning in the global economic downturn that started a few years ago and continues to this day.

Full-year remittances were expected to have hit $19 billion last year, according to figures released by the Bangko Sentral ng Pilipinas, which reflected only remittances coursed through banks and not through informal channels. Before yearend 2010, the remittances already reached a record $18.8 billion, or 8.1-percent higher than 2009.

Every day about 3,000 Filipinos leave for jobs abroad, although the government officially does not have a labor-migration policy. The Overseas Filipinos Act of 1995, which was aimed at ensuring the welfare of OFWs, says, “The State does not promote overseas employment as a means to sustain economic growth and achieve national development.” And yet the Philippines sends nearly a quarter of its adult work force overseas and the economic benefits of workers’ migration are palpable.

So, as the paper posits, what happens in a situation of massive return migration? And could this really happen?

The writers argue that the Middle East labor market is likely to become more and more inhospitable to Filipino migrant workers because the uprisings in the region have a common economic demand: jobs and social welfare for the locals.

The immediate and long-term prospects for OFWs in the region are, therefore, grim. “First, in the countries that are now deeply and violently divided by civil unrest such as Libya and Bahrain, the OFWs, numbering over 50,000 have no choice but to return home by whatever means possible. Second, most of the Middle Eastern countries are likely to freeze further hiring of Filipinos and other foreign migrant workers,” they said.

What would be more distressing, the writers note, is when the rulers of the countries in the region, which happens to host the largest concentration of OFWs in the world, including Saudi Arabia, which has around 1.5 million Filipino workers, start capitulating to the economic demands of their own citizens and drastically reduce the number of foreign workers in their countries in favor of the local work force.

If this happens, there will be a massive flood of displaced OFWs returning to a native land that doesn’t even have enough jobs for fellow countrymen who had been left behind only because they had no carabao or piece of land to sell to pay recruiters for jobs abroad. The returning OFWs would be confronted with the same unemployment and underemployment situation that drove them to seek jobs overseas in the first place.

The writers said, “even if a tenth of the 2 million OFWs based in the Middle East are forced to come home because of the political crisis, Malacañang, DFA and DOLE will certainly have their hands full addressing an overwhelming humanitarian crisis.”

They urged the government to look at its contingency program for return migration, as it “will certainly have a dramatic impact on the economy and the stability of Philippine society, especially at a time when the global food and fuel crises are recurring simultaneously [like in 2008].”

What can government do? One thing going for the government is that it certainly has productive citizens. We have a country full of Filipino workers willing, able and more than qualified for various jobs that require tangible skills. It’s not like we have no buyers and nothing to sell. Indeed, our workers are some of the most marketable in the world. If only the government can get its act together and make the country as marketable as well for investments that would make our workers employable here in their own country.

We are already the No. 1 BPO destination in the world. The BPO sector is seen to employ 1 million people in the next two years.

Trade Secretary Gregory Domingo has pointed to the development of new sunrise industries in the automotive, coconut and tourism sectors that could readily employ at least 500,000 people directly, following the path of the BPO sector.

Also, with manufacturing costs in China becoming costlier, the DTI said we could lure investments in certain manufacturing activities, such as garments assembly, if we could provide a competitive manufacturing capacity. The Philippines can become a production hub of middle- and high-end goods for huge neighboring markets, such as China, India and Southeast Asia.

Last year merchandise exports breached the $50-billion mark on the back of the 40.11-percent increase in the shipment of electronic products. Investments in the electronic sector reached $31.1 billion, the highest in the industry’s history. Demand for electronic and electrical engineers, as well as other workers in the sector, is expected to remain high in the coming years as the industry continues to grow.

The Semiconductor Electronics Industries of the Philippines Inc. recently said it could employ returning IT engineers from the Middle East and Africa in their member-companies.

Another bright spot is the nation’s extractive industry. Because of our huge natural resources, sustainable mining could be one of the top recipients of foreign investment and a main job generator.

In short, the government has options, many rays of light to brighten the cloudy forecast on return migration.

Nevertheless the piece’s warning should serve as a catalyst for self-analysis and a wake-up call. The government must get a grip on its predicament, look at policy reforms that could strengthen the economy and the domestic labor market and, more important, rouse itself from its complacency and over-reliance on OFW remittances, which had served as its golden parachute, always ensuring a soft landing during tough times. But that parachute won’t always be big enough; someday it might not even open, at all.

boypad

March 14th, 2011, 04:55 PM

Gov’t eyeing quake impact

BusinessWorld Online
March 14, 2011
http://www.bworldonline.com/content.php?title=Gov%E2%80%99t%20eyeing%20quake%20impact&id=27940

THE PHILIPPINES could see its economy suffer some fallout as Japan -- a major trade and development partner -- struggles to recover from a devastating earthquake and tsunami, analysts and industry officials said.

Malacañang yesterday acknowledged that an assessment would have to be made but said its immediate priorities were the welfare of overseas Filipino workers (OFWs) in quake-hit areas and reviewing local readiness for similar disasters.

"Definitely we’re going to have an assessment of the impact. [We need to see] how bad the situation is in Japan and infer from this what is the economic impact," Sec. Ricky A. Carandang of the Presidential Communications Development and Strategic Planning Office said in a telephone interview.

Senate President Juan Ponce Enrile, in a radio interview, yesterday urged President Benigno S. C. Aquino III to consult experts, noting among others possible trade and aid losses.

Japan was the top Philippine export market in 2010, with shipments worth some $7.8 billion, and also accounted for over a third of the $9.6 billion in official development assistance (ODA) received by Manila during the year, according to official data.

Mr. Aquino, in a text message to BusinessWorld, said convening a Cabinet meeting "will have to wait until more definitive information can be gotten from Japan."

The top priorities, he said, are "to ascertain risks to our infrastructure in the event of a similar occurrence" -- the Philippines is situated like Japan on the Pacific Ring of Fire -- and "our countrymen’s status and condition in Japan."

The Public Works department has been ordered to look into the first issue while the Defense and Foreign Affairs departments will handle the latter, Mr. Aquino said. Some 4,500 Filipinos are reportedly in the badly-hit areas of Iwate, Miyagi and Fukushima.

"The immediate concern is the safety situation of the Filipinos in the affected areas," Mr. Carandang said, adding that the government was "working out the logistics" to assist them.

There have been no reports of Filipino casualties. Japanese media have said the overall death toll from the magnitude 8.9 earthquake and subsequent 10-meter tsunami could top 10,000.

Mr. Enrile, in the radio interview, said in Filipino that Mr. Aquino should "create a group" of economists and scientists "to evaluate the effects of what happened in Japan so that we can prepare ourselves."

"Our [ODA)] from Japan will be affected. They will use their money for reconstruction, and so there will be a slowdown in their commitments to us, and subsequently a slowdown in our development projects," he added.

"[T]hey will need electricity and they will also be buying and importing a lot of petroleum and crude oil. This may bring up [world market] prices again, and we will [again] be affected."

The good news, Mr. Enrile said, is that Japan may have a need of supplies and workers which the Philippines can provide. In the meantime, he suggested: "We should send humanitarian aid in the form of doctors and health workers, especially nurses, to help them."

Asked to assess the likely impact of the disaster, University of the Philippines economist Benjamin E. Diokno, a former Budget secretary, said "exports, remittances and ODA flows will be affected negatively."

Businessmen, however, claimed any trade impact would be limited. The Philippines, they also said, could benefit as Japanese firms move to restock.

"There will be effects on exports. But it will not be for long as Japan will replenish its inventory," Philippine Exporters Confederation of the Philippines President Sergio R. Ortiz-Luis Jr. said in a telephone interview on Saturday.

Philippine Chamber of Commerce and Industry President Francis C. Chua, for his part, yesterday said there would be "misallocations in the short-term."

"However, the Philippines may be able to participate in Japan’s reconstruction," he added.

The families of OFWs who likely lost their means of livelihood, said University of Asia and the Pacific (UA&P) economist Emil T. Antonio, would bear the immediate brunt of the disaster.

"The [economic] effect will be felt by the families of the OFWs more than anyone else," Mr. Antonio said.

Remittances from Japan totalled $749 million as of the third quarter last year based on data from the Labor department.

Economists also argued that any ODA loss could be offset by private sector investments.

Mr. Antonio said, "The government can tap local investors to fill in," while fellow UA&P economist Victor A. Abola claimed the government’s planned private-public partnerships "will fill in the gaps that the disaster can cause on investments and program funding from loans."

They noted, however, a possible rise in fuel prices as a shutdown of Japan’s nuclear power plants is expected to lead to an increase in the resource-poor country’s demand for oil.

"What is worrisome is the shift to oil-fed generators. Demand for oil coming from Japan will shoot up oil prices," University of Santo Tomas economist Alvin P. Ang said.

The UA&P’s Mr. Antonio said, "It (the situation in Japan) adds up to what is happening everywhere, such as the crisis in the Middle East and high oil prices." -- reports from Antonio Siegfrid O. Alegado, Ana Mae G. Roa and Johanna D. Poblete

boypad

March 14th, 2011, 06:58 PM

Supply disruptions feared

BusinessWorld Online
Posted on March 14, 2011 11:23:54 PM
http://www.bworldonline.com/content.php?title=Supply%20disruptions%20feared&id=28006

CONCERNS over supply chain disruptions were raised by key industries yesterday in the wake of the devastating earthquake and tsunami in Japan, with officials warning of production delays and export losses.

The government, however, said it was still too early to determine how the disaster would affect the domestic economy.

"It’s not so clear at this point," Socioeconomic Planning Secretary Cayetano W. Paderanga, Jr. told reporters, although he said any adverse effects "might start coming in the end of the second quarter."

Sec. Ricky A. Carandang of the Presidential Communications Development and Strategic Planning Office said "a better answer" could be available by Wednesday as the economic cluster holds its regular biweekly meeting.

Aid should be priority

Budget Secretary Florencio B. Abad said the country’s first duty was to offer aid to Japan, a key trade and development partner.

"The first thing that needs to be discussed is up to what extent we can be of assistance ... secondly, we need to discuss the extent of the crisis, because right now the assessment is still in progress ... then we discuss the possible impact on us in terms of trade and official development assistance (ODA)," the budget chief said.

Trade officials said they were already consulting affected industries, with Undersecretary Adrian T. Cristobal saying in a text message: "we’re gathering data from exporters now."

Export Development Council Executive Director Senen M. Perlada, in a separate text message, said: "We have been checking with exporters and other stakeholders."

Ryoichi Ito, executive director of the Japan External Trade Organization, said in a telephone interview that an analysis of the disaster’s impact on Japan’s demand for Philippine exports would be conducted.

Japan was the top market for Philippine exports last year, based on government data, with shipments amounting some $7.8 billion.

Sourcing problem

Logistics are a particular concern, officials of the Philippine Food Processors and Exporters Organization (Philfoodex), Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) and the Philippine Automotive Competitiveness Council, Inc. (PACCI) told BusinessWorld.

SEIPI President Ernesto B. Santiago said the arrival of raw materials sourced from Japan such as glue and molding compounds would be delayed by around two weeks or more.

"The impact is disruption in the supply chain," Mr. Santiago -- whose group represents the country’s top export sector -- said in a telephone interview.

"We have not yet assessed the impact of the disruption," he added, noting that 18% of SEIPI’s members are Japanese firms while "a lot of others" source components from Japan.

PACCI Executive Director Benjamin C. Sevilla, meanwhile, said in a text message: "The impact on the local industry will vary on a company-by-company basis depending on the degree of their activities with Japan. Some realignment may be expected in terms of sourcing of inventory and logistics."

Chamber of Automotive Manufacturers of the Philippines, Inc. President Elizabeth H. Lee, for her part, said: "it’s business as usual" for local assembly of Japanese vehicle brands.

"Majority of vehicles sold in the market are sourced within ASEAN (Association of Southeast Asian Nations) although some are sourced from Japan," Ms. Lee said in another text message.

Philfoodex President Roberto C. Amores, meanwhile, said the destruction of transport and storage facilities in Japan would affect Philippine exports.

"The demand for our fruits and vegetables will be seriously affected due to the unavailable facilities," Mr. Amores also said in a text message.

Local impact admitted

In Malacañang, Mr. Carandang admitted that the disaster would have a local impact given the "extensive trade" between the Philippines and Japan. The fallout could extend to a planned Samurai bond offering, he added.

Earlier in the day, Deputy Presidential Spokesperson Abigail Valte also said it was too early to tell if there would be a slowdown in terms of trade and aid.

"We don’t want to really push them into something when the country is essentially in the middle of an emergency. We do not want to be insensitive that way," she said.

"t is too early to tell at this point whether the tenor of the relationship will change."

Mr. Paderanga, for his part, said: "Numbers will start coming in after the rescue efforts are finished and they start looking really at what damage is there."

He said the Philippines could benefit as Japanese industries seek to restock, and added that there was no talk yet of any suspension or reduction of yen loans committed to the country.

"We will see. That hasn’t been raised," Mr. Paderanga said of a possible aid impact.

Any review of current macroeconomic assumptions would also have to take into account the crisis in the Arab world and not just the disaster in Japan, he said.

Finance Undersecretary Rosalia V. de Leon, meanwhile, said the Philippines could look elsewhere if Japan cuts the $200 million in ODA committed to the Philippines this year.

"Japan has not indicated that they are withdrawing their ODA. But, if they do, we can realign our plans and tap into the World Bank (WB) or the Asian Development Bank (ADB) for assistance," Ms. de Leon told BusinessWorld.

Japan terms favorable

She admitted, however, that Japan was still the better option since it offers cheaper rates and longer maturity periods.

According to the National Economic and Development Authority, the Japan Bank for International Cooperation’s yen loan packages carry interest rates of 1.8% and 0.75%, respectively, for a project’s capital and consultancy components. The loans are payable in 40 years, inclusive of a 10-year grace period.

The Asian Development Bank, in contrast, charges 5.5% interest for multi-currency loans and 6.7% for dollar loans. The term is 20 years, with a grace period of four to five years. The World Bank, has a variable lending rate but the loans are also payable in 20 years with a five-year grace period. Both also charge a 1% front-end fee.

The Philippines received $9.61 billion in ODA loans last year. Japan was the biggest donor with a 36% share of the fund. The WB accounted for a 21% share while the ADB contributed a tenth.

National Treasurer Roberto B. Tan said he remained confident assistance from Japan would not decrease.

"Based on experience, there were no substantial changes in the flow of ODA we receive in times of disasters [in Japan]," he told BusinessWorld in a telephone interview.

"We cannot preempt the Japanese government’s decision, but I don’t foresee any major constraint."

Focus on rebuilding

University of the Philippines economist Benjamin E. Diokno, however, pointed out that Japan -- also the source of 5% of remittances by overseas Filipino workers (OFWs) in addition to being a major market and providing a third of the ODA received by the country -- would have to concentrate its resources on rebuilding.

The astronomical costs that would come with the reconstruction effort, he said in an e-mail to BusinessWorld, would mean "less aid for developing and transition economies, including the Philippines".

There would also be "slower trade with Japan as it undergoes adjustment and recovery," he added.

"Some countries might be able to export more to Japan than others, depending on the nature of their exports. Countries which export construction materials -- steel, cement and others -- will benefit.

"But countries which export inputs (say, machinery and auto parts, electronics components, etc.) for Japan’s exports of final goods to the rest of the world may be disadvantaged since the three car manufacturers have stopped production as a result of the tragedy," Mr. Diokno said.

"The unprecedented triple tragedy -- quakes, tsunami and nuclear accident -- is a major blow to an already weak economy. I’m confident Japan would be able to bounce back but it might take awhile." -- reports from [I]Ana Mae G. Roa, Johanna D. Poblete, Louella D. Desiderio, Diane Claire J. Jiao and Emilia Narni J. David

wino

March 15th, 2011, 01:14 AM

I always wondered why we never exported coconut water....
I'm an avid fan, too bad, i always have to settle with Thai brands, it's the only one available here..

about time for the Philippines to get in the industry.

RP eyed as source of Pepsi coco water
http://www.mb.com.ph/articles/309386/rp-eyed-source-pepsi-coco-water
March 14, 2011, 11:04pm
MANILA, Philippines – Global beverage giant PepsiCo Inc. is looking at the distribution of ‘coconut water’ in the US market with the Philippines as primary source.

Trade officials said that Brazilian businessman Rodrigo Veloso, founder and CEO of One Natural Experience (O.N.E.), who came here over a year ago to explore for the sourcing of young ‘coconut water’, has renewed interest in the Philippines.

Based on the plan, O.N.E. will produce the ‘coconut water’ in the country but PepsiCo will take care of distribution in the US market.

“They should produce it here because the tendency for this kind of product is to produce it at source,” the official said.

The initial volume of ‘coconut water’ that O.N.E. would like to source from the Philippines is 10 containers a month. The country’s total coconut production is placed at 16 million tons a year.

Last year, PepsiCo and O.N.E., a Los Angeles, California-based coconut water company, has announced PepsiCo’s increased investment in O.N.E., thereby acquiring a majority stake in the company. This represents a second round of investment in O.N.E. by PepsiCo and Catterton Partners, a private equity firm based in Greenwich, Conn.

Coconut Water is one of the fastest growing categories in the U. S. beverage market.

The trade official, however, said that there is not enough supply of coconut water that can be produced in the country.

The number of productive coconut trees in the country has dwindled over the years because of neglect due to the lower price of copra. It was only lately that prices of copra have reached an all-time high of P60 per kilo following the strong demand of coconut oil in the world market.

Trade and Industry undersecretary Merly Cruz said the biggest producers of coconuts in the country are Davao , Bicol, Samar, Leyte and Quezon, but coconut production has dwindled over the years because there have been lesser coconut development programs and no more replanting.

She said there is also a huge demand for coconut water concentrates in the U.S. after a Thai supplier has stopped its export business.

Cruz said the government is pursuing an advocacy to develop high-value added products out of coconut by-products to create awareness among Filipinos that there is money in these lowly products and in doing so they would be encouraged to cultivate their coconuts and replant new ones. (BCM)

Nabartek

March 15th, 2011, 03:06 AM

CNN Report: What will happen to Manila if a major earthquake strikes?
Mon, Mar 14, 2011 8:58 AM PHT
http://beta.ph.news.yahoo.com/happen-manila-major-earthquake-strikes-20110313-175800-959.html

A CNN report released April 2010 documents Manila's earthquake vulnerability...

In the wake of the massive 8.9-earthquake that hit Japan last week, the lingering question now on every Filipino's mind seems to be, "are we next?" And if so, "what will happen to us?"

Since the 7.0-magnitude earthquake struck Haiti in January 2010, local geologists have been anticipating a major earthquake to hit Manila termed as the "Big One."

CNN released a report last year that documented Manila's earthquake vulnerability citing the Marikina Valley fault as "ready to give in," according to Geologist Mahar Lagmay, an associate professor at the National Institute of Geological Sciences at the University of the Philippines. Lagmay said a 7.0-earthquake would be like a "1,000 Nagasaki atom bomb explosion underneath the Earth's surface along the Marikina Valley Fault."

In an ABS-CBN News report, director Renato Solidum of the Philippine Institute of Volcanology and Seismology warned residents living near the Marikina fault line that buildings and houses could collapse when the ground starts to shake. Meanwhile, an Inquirer report published today, March 14, listed catastrophic scenarios cited by Pacific Strategies and Assessments should a high-magnitude earthquake hit Manila, which could include: an estimated 117,000 homes that would "either collapse or suffer damage, rendering 1.2 million homeless," damaged water reservoirs and purification plants that would immediately cut 4,000 water supply points, and "at least 30 kilometers of electric cables cut, removing the supply of power instantly across the metropolis," among others.

Moreover, the 2010 CNN report said, "If a 7.2-magnitude earthquake hit here in Manila, it could damage 38% of homes, a third of public buildings, and cause more than 50,000 deaths."

For more on this story, log onto CNN, ABS-CBN News and Inquirer.net.

________________________________

Metro Manila may crumble if 7.2 quake strikes – JICA
Manila Bulletin
http://ph.news.yahoo.com/metro-manila-may-crumble-7-2-quake-strikes-20110312-030759-133.html

MANILA, Philippines - Light Rail Transit (LRT) structures are designed to withstand a 7.9-magnitude earthquake; however, a Japan International Cooperation Agency (JICA) study revealed that Metro Manila would crumble if a 7.2-magnitude earthquake strikes.

The JICA study, conducted with the World Bank and the Asian Development Bank, was presented during a hearing last month of the Senate Committee on National Defense and Security chaired by Senator Francis Escudero.

Expressing concern, Escudero reiterated his call on the urgency to update and strengthen the disaster risk and management capacity in Metro Manila.

Escudero made the call after a tsunami, triggered by a 8.9-magnitude earthquake, slammed Japan and left a swath of destruction and caused fears in coastal areas around the world.

He said there should be a comprehensive inventory of resources in order to appropriately respond to this type of disaster and its aftermath.

"We need to have a thorough audit of what expertise and logistics the agencies under the National Disaster Risk Reduction Management Council (NDRRMC) have so we can enhance, augment, and close whatever gaps are there in relation to our coping response and capability in the event of a natural disaster such as a strong earthquake," Escudero said.

The JICA study said Metro Manila was not prepared to deal with a 7.2-magnitude earthquake in terms of existing resources and given old building structures around and within the metropolis.

Such magnitude, the study showed, will result in major fires in Manila, Pasig, and Quezon City. Fire hydrants will not be enough that it would take seven days before authorities can declare "fire out" as major fire engines come from Quezon City and Pasig City, areas which are also at high risks.

Light Rail Transit Authority (LRTA) Spokesman Hernando Cabrera said a 2003 study made by the Philippine Institute of Volcanology and Seismology (Phivolcs) showed that the strongest temblor that could hit the country is 7.2, a magnitude that is lower than the maximum magnitude LRT structures could handle.

He explained that LRT's design was based on the California Building Code because the Philippine seismic condition is similar to that of California.

"Just a while ago, I heard (Phivolcs Director Renato) Solidum as saying over the radio that the maximum earthquake that could hit the country is 7.2," Cabrera said.

With this, he said, it could be concluded that the LRT designs are strong enough to stand earthquakes that could hit the country," he added.

The problem is, Metro Manila can't probably withstand an earthquake with magnitude 7.2 and above.

At a Senate hearing Wednesday, Solidum underscored the need for earthquake preparedness as he raised the probability of a strong earthquake hitting Metro Manila and certain provinces in Northern and Central Luzon.

Solidum said, citing a study called the "Metropolitan Manila Earthquake Impact Reduction" conducted by Phivolcs, that a 7.2-magnitude earthquake could devastate 40 percent of residential areas and 14 percent of high rise buildings in Metro Manila.

Solidum cited the Marikina fault line, now known as the Valley Point System, which runs from Sierra Madre to Sta. Rosa, Laguna. The line starts from the Sierra Madre and runs through Bulacan, Rodriguez, Rizal, Quezon City, the eastern side of Metro Manila, including Pasig, Taguig, Muntinlupa, San Pedro, and Sta. Rosa in Laguna and ends in Carmona Cavite.

He said a fault is classified active because it moved within the last 10,000 years. He, however, said that since it is locked now the probability of having it moved now is close to zero.

"But of course we need to prepare," Solidum added. According to him, historical and geological records show that the Marikina fault line had moved four times within the past 1,400 years with an interval of 200, 400, and 600 years.

________________________________________

‘Big One’ Is Possible But Metro Is Unprepared
BY AUBREY STA. CRUZ MAKILAN

Here’s something that the country’s national leaders should be bothered about: If a major earthquake were to hit Metro Manila today, the devastation would be so big even disaster response authorities cannot simply cope with it. And it even looks like disaster preparedness occupies a low priority among officials down to the municipal level.

Recent reports gathered by Bulatlat show that up to 35,000 residents of Metro Manila would die and up to three million others would need to be evacuated. In addition, some 175,000 buildings would be damaged. The pressure of collapsed buildings and the inability to rescue those who would be trapped inside would cause most of the deaths.

Distribution of active faults and trenches in the Philippines

With its current population of 10 million, Metropolitan Manila, which is composed of 13 cities and four municipalities, is densely populated with several clusters and districts having high-rise buildings close to each other. Investigations done by various disaster units and fire departments a few years ago found many buildings did not comply with construction standards and that these are prone not only to fires but also to damage by earthquakes of any scale.

One of the reports gathered by Bulatlat, the Metropolitan Manila Earthquake Impact Reduction Study (MMEIRS), cites “many research studies (indicating) that active phases of the (West) Valley Faults (formerly the Marikina Valley Faults) are approaching and that the estimated magnitude will be around 7 or more.” But MMEIRS also raised the possible intensity from 7 to even 9, which could be “devastating.”

The study projected the “big earthquake” to be “unlike any tragedy seen or imagined in Metro Manila.”

Asked for comment, however, a scientist-environmentalist theorized that such studies could be pressing the panic button now just to allow certain insurance companies to profit from a sudden surge of building insurance orders and the like.

Largest impact

MMEIRS, a Japan-funded study that was begun in August 2002, identified the West Valley Fault, which lies just northeast of Manila, as “the fault expected to cause the largest impact in the metropolis.” The West Valley Fault traverses Marikina town, Pasig going to Muntinlupa up to the south.

The Fault, other studies showed, caused at least two major earthquakes within the last 1,400 years. No earthquake is known to have taken place along the West Valley Fault after the 16th century. But based on the estimated return period of less than 500 years, the Fault is due to exhibit dangers this century – or even within the next few years, if the estimates of an official of the Philippine Institute of Volcanology and Seismology (Phivolcs) are valid.

Dr. Norman Tungol of Phivolcs’ Geology, Geophysics, Research and Development Division (GGRDD) estimated the Fault’s movement of recurrence at 200-400 years and based on this, he told Bulatlat, it is due for another movement.

Tungol said however that since studies have a big margin of error, this projection “could be within the next few years, (or) few tens of years.” He also said that even if there is no need for the people to panic because there is no timetable yet, “dapat mag-prepare because it’s inevitable.”

He confirmed that an earthquake with intensity 8 or 9 could be expected in the Valley Fault with a possible magnitude of 7.2 because of the lengthy fault.

Another Phivolcs scientist, Dr. Elena Bautista, noted however that the MMEIRS study found no pattern for the frequency of earthquakes occurring in the West Valley Fault.

A noted engineer, Dr. Arthur Saldivar-Sali, saw MMEIRS’ assertion that “active phases of the Valley Faults are approaching” as vague. He noted that the study, which he admits he has never seen, was apparently based on “deterministic analysis” which focuses on the characteristics of the movement of a fault and can be a prejudgment based on studies done or merely on gut feel that has no scientific basis at all.

Saldivar-Sali is a member of the Council of Engineering Consultants of the Philippines (Cecophil), a group of corporations and companies doing civil engineering designs and foundations.

Probability theory

Saldivar-Sali, a former UP professor who is also now with the Geo-Technica Consultancy Group, told Bulatlat that he tends to believe in the “probability analysis” of former Phivolcs Director Raymundo Punongbayan. Shortly after the Mt. Pinatubo eruption in 1991, Punongbayan told of a higher probability of a major earthquake on the Valley Fault based on its rare movements. Since lesser energy is released in the friction of rocks, more energy is stored, like a rubber band, preparing for a big snap.

The higher the percentage of the probability of an earthquake, the dangerous it would be, Saldivar-Sali said.

Punongbayan also cited the danger of building anything five kms near the fault. The director’s warning caused alarm among the business community and Marikina local officials asked that the fault be renamed “West Valley Fault” instead.

In layman’s terms, a magnitude of 7.2 can be compared to a bomb explosion, Saldivar-Sali said. In exponential form of 10, a magnitude of 1 is equivalent to one ton (1 x 100), magnitude 2 to 10 tons (2 x 101), 3 to 300 tons (3 x 102), and so on. A 7.2 magnitude if multiplied to 106 is equivalent to 7.2 million tons of bomb explosion.

MMEIRS actually aimed to design a master plan for earthquake impact reduction in Metro Manila leading to the holding of training seminars on earthquake preparedness. Funded by the Japan International Cooperation Agency (JICA-Philippines), the study was supported by the Metropolitan Manila Development Authority (MMDA), the Department of Science and Technology (DoST), Phivolcs and JICA contractors Pacific Consultants International, Oyo Corporation, and Pasco Corporation.

Scientists from Phivolcs, the University of the Philippines as well as from Japan participated in the study. Due for completion last March, the report is being finalized in Japan, according to Cora Macasieb, Special Operations Officer II and acting division chief of the Directorate for Special Operations of the Metropolitan Manila Disaster Coordinating Council (MMDCC).

Separate studies on earthquake are also being done in cooperation with China, Japan and the United Nations Development Program (UNDP).

Among others, three areas were tested under the MMEIRS study: Mataas na Lupa in Malate, Manila; Ugong, Pasig; and Cupang, Marikina. Studied were Metro Manila’s three fault lines, namely, the West Valley Fault, the Manila Trench and Manila Bay.

Analyzed were the areas’ earthquake history, length of the fault and vulnerability to earthquake. Damage scenarios and estimates of costs of destruction were also done.

Impact

The seismic intensity generated by the West Valley Fault earthquake and the damage felt in an area varied from place to place. The intensity may range from 7 in Quezon City, almost 8 and 9 alongside Marikina River and Manila Bay, and 8 at west of Metropolitan Manila and 7 at other areas. Based on the Phivolcs Earthquake Intensity Scale (PEIS), intensity 7 is “destructive,” while 8 and 9 are “very destructive” and “devastating,” respectively.

Aside from the estimated death toll, the West Valley Fault earthquake would cause injuries to 118,200 persons, the study reveals. MMDC’s Macasieb said that the death toll would rise if the earthquake occurs during office hours where most of the people are working inside buildings including those who would come from the province to process various papers in the metropolis.

The number of buildings expected to be destroyed by the Manila Trench earthquake would reach about 5,000 while 16,000 for the Manila Bay fault. The West Valley Fault earthquake will cause the collapse of buildings in northeastern Quezon City, western Marikina, eastern Pasig, Muntinlupa-Laguna Bay and Mandaluyong-Makati. Evacuation would be difficult in the metropolis’ fringes particularly in the north, Taguig and Las Piñas, the MMEIRS study also found.

Residential buildings around the Malacañang in Manila and the House of Representatives in Quezon City would be severely damaged. Other infrastructures such as bridges and power posts will also be destroyed.

The danger of spreading fire to the Malacañang presidential office is not ruled. Liquefaction around the House area might take place. Even the MMDA building would be severely damaged, the study adds.

Collapses would lead to electricity short circuit, petroleum and LPG leakages from storage tanks, among others, that would cause fire. Areas highly vulnerable to fire would be Valenzuela, Caloocan, and south of Quezon City west intersection.

Damages to the Angat reservoir and water purification plant would likely happen, causing a long-term stoppage in water supply. Public transportation facilities such as airport runways would be closed, leaving only helicopters available for operations. Ports in the North and South harbors would be damaged and tilted by liquefaction, making these inaccessible for loading and unloading. Damages would likely be expected on roads and bridges.

Including victims of fires and liquefaction caused by the earthquake, the study estimates the number of refugees or evacuees at three million. The figure would include 1.3 million persons who would be uprooted from their homes if the aftershock would last about seven days.

After liquefaction, there would be a possible regional separation. The western part of Metro Manila would be isolated from other parts of the metropolis. The same thing would happen to the northern and southern parts due to building collapse especially in the area intersecting Makati and Mandaluyong. Meanwhile, all road networks running east-west that are on the fault would be broken.

Baka hindi lang "Big One" yan, baka "big three" pa. Lindol, Tsunami, Volcanic eruption. Ilang bulcan lang naman ang active sa Luzon alone :ohno::ohno:

boypad

March 15th, 2011, 04:55 AM

Unemployment rate up to 7.4% :ohno:

BusinessWorld Online
March 15, 2011
http://www.bworldonline.com/content.php?title=Unemployment%20rate%20up%20to%207.4%&id=28008

THE COUNTRY’S jobless rate worsened to 7.4% in January, the quarterly Labor Force Survey (LFS) showed.

An estimated 2.9 million Filipinos were without work that month, up from 2.8 million a year earlier.

The January unemployment rate, calculated as the ratio of those without work to the labor force, was higher than the 7.3% jobless rate recorded during the same period last year and 7.1% in October 2010.

The employment rate slid to 92.6% from 92.7% last year.

The January 2011 LFS placed the size of the labor force at 39.2 million Filipinos out of the estimated 61.5 million Filipinos 15 years old and over. This was equivalent to a 63.7% labor force participation rate. -- Daniel Anne Nepomuceno-Rodriguez

RonnieR

March 15th, 2011, 05:22 AM

I always wondered why we never exported coconut water....
I'm an avid fan, too bad, i always have to settle with Thai brands, it's the only one available here..

about time for the Philippines to get in the industry.

RP eyed as source of Pepsi coco water
http://www.mb.com.ph/articles/309386/rp-eyed-source-pepsi-coco-water
March 14, 2011, 11:04pm
MANILA, Philippines – Global beverage giant PepsiCo Inc. is looking at the distribution of ‘coconut water’ in the US market with the Philippines as primary source.

Trade officials said that Brazilian businessman Rodrigo Veloso, founder and CEO of One Natural Experience (O.N.E.), who came here over a year ago to explore for the sourcing of young ‘coconut water’, has renewed interest in the Philippines.

Based on the plan, O.N.E. will produce the ‘coconut water’ in the country but PepsiCo will take care of distribution in the US market.

“They should produce it here because the tendency for this kind of product is to produce it at source,” the official said.

The initial volume of ‘coconut water’ that O.N.E. would like to source from the Philippines is 10 containers a month. The country’s total coconut production is placed at 16 million tons a year.

(BCM)

Good news....

All is well that ends well. Good development with our northern neighbor.

Taiwan, Philippines explore signing free trade pact

Mar 14, 2011, 13:23 GMT

Taipei - Taiwan and the Philippines agreed on Monday to explore the possibility of a free trade pact, in a move seen as reconciliation of the two sides over a recent extradition row.

Relations soured last month when Manila sent 14 Taiwanese fraud suspects to China despite Taipei's protest.

But Philippine presidential envoy Manuel Roxas visited Taiwan for a second meeting with foreign minister Timothy Yang Monday.

In addition to discussing improved judicial cooperation, 'Our two sides have agreed to soon start studying the feasibility of forging an economic partnership pact,' Yang said.

Roxas said he hoped incidents such as the extradition incident 'can be avoided in the future.' Roxas also met Taiwan President Ma Ying-jeou after his talks with Yang.

The row saw Taipei put restrictions on migrant workers from the Philippines. Tensions started to thaw when Manila extradited a Taiwan fugitive suspected of lottery fraud back to the island.

Manila on Wednesday also sacked its immigration chief and senior immigration official, and Taiwan has responded by saying it would relax the requirements on Filipinos seeking work in Taiwan.
http://www.monstersandcritics.com/news/business/news/article_1625929.php/Taiwan-Philippines-explore-signing-free-trade-pact

Askal82

March 15th, 2011, 06:38 AM

Baka hindi lang "Big One" yan, baka "big three" pa. Lindol, Tsunami, Volcanic eruption. Ilang bulcan lang naman ang active sa Luzon alone :ohno::ohno:

Good thing we will not be able to deal with any radioactive fall out because the country doesn't have any nuclear plants.

Now with two countries having such big earthquakes, both North and South of the Philippines, it should be a wake up call to Philippine government to act immediately in preparation for another Big one.

RonnieR

March 15th, 2011, 08:39 AM

Hats off to BIR. :cheers:

BIR exceeds Jan. collection goal by 3.6%
abs-cbnNEWS.com
Posted at 03/15/2011 1:41 PM | Updated as of 03/15/2011 1:41 PM
Tweet

MANILA, Philippines - Taxes collected for January reached P74.57 billion, 3.6% more than the P71.97 billion goal of the Bureau of Internal Revenue (BIR) for the month.

“Meeting the target for the first time on the first month of the year is a good signal for the BIR," noted BIR Commissioner Kim S. Jacinto-Henares.

"However, I have to stress that it is still early in the year and we will continue our efforts to collect from everyone what is due, so the country will have enough to fund vital projects that will support future economic growth,” Jacinto-Henares said.

The BIR is tasked to collect P940 billion this year, or 14.2% higher compared with its target for 2010.

Jacinto-Henares earlier said BIR, responsible for more than 60% of the government’s annual profit, was confident to meeting the P56.993 billion collection target in February.

She said the 12% growth in revenues from P50.975 billion in February last year will be driven by the agency’s efficiency in collecting taxes.

It has filed a total of 33 tax evasion cases against high-profile individuals from July 2010 to mid-March 2011 as part of efforts to increase tax collections.

The BIR is tasked to raise more revenues this year to fund the government’s budget deficit estimated to reach 3.2% of the country's gross domestic product.
http://www.abs-cbnnews.com/business/03/15/11/bir-exceeds-jan-collection-goal-36

:cheers::cheers:
January remittances up 7.6% to $1.48-B
abs-cbnNEWS.com
Posted at 03/15/2011 2:08 PM | Updated as of 03/15/2011 2:15 PM

MANILA, Philippines - Filipinos working abroad sent home $1.48 billion in January, a 7.6% increase.

In a statement on Tuesday, the Bangko Sentral ng Pilipinas noted that remittances "remained resilient on the back of sustained demand for skilled overseas Filipino workers in different destinations worldwide."

In 2010, remittances reach a record $18.8 billion.
http://www.abs-cbnnews.com/business/03/15/11/january-remittances-76-148-b

boypad

March 15th, 2011, 09:18 AM

Japan quake impact: Weaker yen, less aid for PH :ohno:

abs-cbnNEWS.com
Posted at 03/15/2011 12:50 PM | Updated as of 03/15/2011 1:50 PM
http://www.abs-cbnnews.com/nation/03/15/11/japan-quake-impact-weaker-yen-less-aid-ph

MANILA, Philippines - The Philippines stands to gain and lose from the economic impact of the powerful earthquake and tsunami that hit Japan.

On the plus side, the Philippines, one of Japan's biggest borrowers, will benefit from a weakening of the yen, according to University of the Philippines (UP) economist and professor Benjamin Diokno.

Diokno stressed, however, that the government should still look for other loan and financing alternatives as Japan gears for massive reconstruction efforts.

“We will be benefitting from the weakening of the yen because we only need a small amount of our currency to be able to pay for our [previous] loans,” he said in an interview with radio DZMM on Tuesday morning.

Future borrowing plans would not bode well for the government, however, as Japan moves for a massive reconstruction of its economy following the twin tragedies last week.

“They are in for a lot of spending. Their reconstruction may take at least 10 years,” he added.

Japan, which has been in and out of recession in the last 20 years, does not just pick up the pieces, he noted. “They would want something better after,” he added.

While Japan has not yet intimated it would be disrupting its Official Development Assistance (ODA) to the Philippines, Diokno already sees a decline.

He said Japanese investments in the Philippines’ infrastructure development may take a stand still. At least 33% of the country’s ODA portfolio comes from Japan.

Even the Philippines’ export industry will be affected, Diokno said.

“The motor parts, electronics [operations] coming from here would slow down. A lot of plants in Japan temporarily closed shop,” he said.

The other day, Malacañang said it would review the timing of a planned Samurai bond sale this April because of the tragedy. Officials noted the government may rely on other debt papers, either dollar-denominated or global peso bond sale.

The Philippines is not without any option, however. Diokno said the country is still awash with dollars, “and we really do not need to borrow from Japan.”

He also said overseas Filipino workers (OFWs), especially construction workers, could also benefit from the reconstruction of Japan.

amigo32

March 15th, 2011, 09:28 AM

3cr

March 15th, 2011, 10:46 AM

Japan-like quake not seen in PHL, but...
By Anjo C. Alimario / Researcher/Writer
Business Mirror
http://www.businessmirror.com.ph/home/science/8535-japan-like-quake-not-seen-in-phl-but

THE Philippines is not likely to experience a strong earthquake similar to the 8.9-magnitude tremor that hit northern Japan on Friday because the plate that is subducting the Philippines is different from that of Japan, but an expert from the Philippine Institute of Volcanology and Seismology (Phivolcs) said that the agency still would look into how the foreign experts analyze the Japanese experience.

The 8.9-magnitude earthquake in Japan—which has prepared its infrastructures against tremors that frequently visit the country that is crisscrossed by earthquake faults—caused 10-meter-high tsunami that washed away cars, fishing boats and even whole villages.

Asked by the BusinessMirror on the connection of the Philippine plate to the Japan plate, Ishmael Narag, Phivolcs Seismological Observation and Earthquake Division Supervising Science Research specialist officer in charge, noted that what moved was a different plate.

“The one that is subducting in the Philippines is the Philippine Sea plate. In Japan, it’s a different plate, it is the Pacific plate.”

However, Narag emphasized that it is still interesting to see what the experts from Japan could see from the event because the plates belong to one whole zone, which is the Pacific Ring of Fire.

“We would like to learn as well on what occurred in Japan to check if what they saw there could also happen here in the Philippines. Our projection is 8.5-magnitude earthquake for each of the segments of the Philippine Trench and Manila Trench.”

But Narag pointed out that Phivolcs needs to review whether there is a need to research if it is possible to have a mega-thrust event in the Philippines.

A mega-thrust event occurs at subduction zones at destructive plate boundaries (convergent boundaries), where one tectonic plate is forced under (subducts) another.

He explained that an 8.5 magnitude is the projected magnitude of the segments in the Philippine Trench.

“That was the maximum magnitude we saw, not like this one [the 8.9-magnitude earthquake in Japan] which was class 9.”

“The class 9 events, the way I see it, have 600-700 kilometer [km] rupture. If you look at the length of 700-km rupture there are trenches which are long like the Manila Trench and Philippine Trench. The question right now is whether they are capable of rupturing 700 km at one time. Because they could move as segments or they could move together,” Narag said.

He added that there is still a debate about the real magnitude of the last earthquake.

“Now the magnitude is playing between 8.9 to 9.1. The US Geology Survey came up with a different magnitude for the event.”

According to USGS data, the March 11 earthquake occurred as a result of thrust faulting on or near the subduction zone interface plate boundary between the Pacific and North America plates.

At the latitude of this earthquake, the Pacific plate moves approximately westward with respect to the North America plate at a velocity of 83 mm per year. The Pacific plate thrusts underneath Japan at the Japan Trench, and dips to the west beneath Eurasia.

The location, depth and focal mechanism of the March 11 earthquake were consistent with the event having occurred as thrust faulting associated with subduction along this plate boundary, the agency reported.

The March 11 earthquake was preceded by a series of large foreshocks over the previous two days, beginning on March 9 with a magnitude-7.2 event approximately 40 km from the March 11 earthquake, and continuing with a further three earthquakes greater than magnitude 6 on the same day.

Narag also observed that as early as Wednesday there was already an earthquake with 7.2 magnitude.

“We issued a bulletin but it was alert level zero, meaning no threat to the Philippines. There was 50 cm tsunami in Japan that day. We didn’t realize that it would be a foreshock for this 8.9 [-magnitude] event,” he added.

On Friday night, around 11 p.m., Phivolcs issued the cancellation of the alert level 2, but the institute is still monitoring the events in the Philippines.

“The real problem right now is there are a lot of aftershocks coming from the Japan event. It is masking most of the local events. We should be careful in looking at earthquakes in the Philippines because aftershocks occur on top of each other. There was even a magnitude-8 aftershock last night [Friday] in Japan,” Narag pointed out.

Narag said the scientific problem right now is how to look at the data.

“How much useful information you can gather from the data to be used by the Japanese government to decide what would be the next steps, especially now that they are in rescue and relief stage,” he said.

Tsunami: PHL is parallel to quake source

Because of the country’s position being parallel to the source of Japan earthquake on Friday—contrary to the direction of the wave that was supposed to be perpendicular to the rupture zone—smaller tsunami wave heights hit the Philippines, leaving no damage or casualty.

“All of the large waves are going to the direction away perpendicular to the source. The Philippines is not perpendicular but we’re parallel to the source and yet there were still projected wave heights,” Narag said.

He added that one factor that should be taken into consideration is whether there was high or low tide at the time when the earthquake occurred.

“So when the waves were approaching the high tide was just starting. Fortunately, it was not yet high tide. That’s the situation of the passage of the tsunami in the Philippines,” he said.

Phivolcs is using the travel-time model, which shows the earliest arrival time of the wave and another model to check the amplitude.

____________________________

[U]Learning from Japan
Business Mirror Editorial
Monday, 14 March 2011
http://www.businessmirror.com.ph/home/opinion/8597-learning-from-japan

ONE way we can make sense of the sacrifice and pain of the Japanese people, who are still reeling from the impact of Friday’s 8.9-magnitude quake, tsunami and the still-raging nuclear reactors’ crisis, is to learn well, and act accordingly, the lessons they have taught the world in disaster mitigation.

For many years, the whole world has known of Japan’s valiant efforts to prepare itself for disaster, lying as it does on one of the most active segments of the “Pacific Ring of Fire,” that deadly cluster of active volcanoes where the Philippines also belongs.

Having seen the extent of quake damage—in Kobe, where more than 6,000 people died in 1995; and in the great Kanto earthquake that killed more than 100,000—Japan has perfected the art and science of disaster mitigation as far as retrofitting its infrastructure is concerned. The best proof of its success was Friday, March 11, 2011. It should be noted that almost all of the buildings and key infrastructure shown destroyed were those swept away by the tsunami—an understandable consequence, considering its speed and force. True to its billing of having the most earthquake-resistant buildings on the planet, Japan taught us a crucial lesson in national discipline and political will when it comes to enforcing its tough building codes—besides setting sterling examples of individual and community sacrifice and self-help. Why, even the Chinese media, according to Bloomberg’s William Pesek, shifted from Japan-bashing in recent days to extolling the lessons in discipline and orderliness that the Japanese could teach the Chinese.

Countless drills involving Japanese citizens, as well as year-round training for its self-defense forces, have allowed disaster-response teams to quickly act at the community level, unlike what happened in America’s Katrina, when federal emergency units took days to reach victims and were severely criticized. A similar problem was observed in the Philippines’ Ondoy, as community-level, or even town- or city-level equipment and manpower for search and rescue were almost nil.

The enforcement of its legendary building codes has helped most of Japan’s buildings escape destruction from the earthquake. Sadly, the opposite could happen in the Philippines, where experts recently sounded anew the alarm over quake preparedness after the Christchurch, New Zealand, temblor—and just days before Japan’s Big One.

According to one major study they cited, at least 34,000 people would die and communication lines and utilities in Metro Manila would see extensive damage should a shallow earthquake of 7.2 magnitude hit the West Valley Fault that bisects Metro Manila.

This was the worst case of the 18 scenarios generated by the Earthquake Impact Reduction Study for Metro Manila, done by the Metropolitan Manila Development Authority, the Philippine Institute of Volcanology and Seismology (Phivolcs) and the Japan International Cooperation Agency (Jica).

Per that study, most of the 34,000 deaths and 114,000 injuries within the first hour of the earthquake would be the result of houses and buildings collapsing, and debris raining from mid-rise and high-rise buildings.

As a key recommendation, experts strongly suggested a massive retrofitting of Metro Manila’s buildings and houses to make them earthquake-resistant, considering that the Philippines is in the Pacific Ring of Fire and a “Big One” is foreseeable in the near future. Its second key recommendation, which has just been validated by Japan, is to set up at the community level the disaster-risk management teams.

There’s a very concrete lesson that Philippine experts also gave last week, again taking a cue from a side study, also partly funded by Jica. In an article in this paper’s Sunday issue (March 13), they pointed as well to the need to double-check the “nonengineered construction” of houses in, ironically, “seismically prone” sites. Phivolcs Director Renato Solidum cited during the monthly DOST Forum the crucial difference between the products of such “nonengineered construction,” such as masonry houses made of concrete blocks or adobe stones with no structural beams and columns, and those Philippine masonry houses that follow the required size of concrete hollow blocks and reinforcing bars.

In that experiment, two full-scale model masonry houses, one following the local building code, were built on top of a one-directional large-scale shaking-table laboratory provided by Japan’s National Research Institute for Earth Science and Disaster Prevention. The code-compliant structure survived 100 percent of the Kobe-type earthquake input motion with minor damage. The other one was easily damaged and eventually collapsed.

Solidum now wants that “shaking-table test” to be part of a massive education campaign to make people comply with building codes and redress the defects in their homes and buildings. Phivolcs will provide an assessment tool that lets homeowners tick off a set of questions and answers. The implication is that, beyond the high rises that are—presumably—subjected to stricter local government enforcement, authorities should ensure that all other buildings, including individual homes, are compliant.

In the aftermath of Ondoy, so much hot air and nonsense had been spewed by publicity-seeking know-it-alls and politicians—sadly lapped up by some in the media—about climate change and the need for disaster-risk reduction and damage mitigation. But the most recent assessment reports have shown that a lot of what we were supposed to do to avert another Ondoy-level disaster has remained on paper. The Japan earthquake presents us with yet another major challenge in preparing for a very real threat, considering our earthquake history.

If the Japanese should teach us anything besides their discipline, absence of looting, patience and an exquisite ability not to whine, it is also this: sometimes, not even the best-laid and enforced scientific plans to avert or mitigate disaster can be enough. But they are still worth taking, because the alternative would be unthinkable.

arcabe

March 15th, 2011, 11:42 AM

Sino kaya may sala?:D
Sino Noy ituturo natin?:D
Ramdam ang kahirapan
:rofl:

sino sa palagay mo?. Hindi pa nauubos ang mga corrupt. Kung walang corrupt walang jobless!! Kailan pa kaya?:)

boypad

March 15th, 2011, 12:30 PM

Remittance growth to slow down this year

BSP notes lost jobs due to Mideast, Japan crises
By Michelle Remo
Philippine Daily Inquirer
First Posted 19:45:00 03/14/2011

MANILA, Philippines—The Bangko Sentral ng Pilipinas hinted Monday that it might slash its remittance growth forecast of 8 percent for this year to take into account the impact of recent external developments—the
unrest in the Middle East and North Africa and the disaster that hit Japan last week—on the ability of Filipino workers abroad to send money.

BSP Governor Amando Tetangco Jr. said the central bank would review its projections on remittances, which could also result in the adjustment of the monetary authority’s forecast on the balance of payments. The central bank set its BOP forecast for this year at a surplus of between $6 billion and $8 billion.

“We will consider all the data indicators that we have on both current and future trends as we scan the operating environment,” Tetangco told reporters.

BSP officials earlier said money sent by overseas Filipinos was likely to sustain the 8-percent growth posted last year given improvements in the global economy.

For instance, the US economy, which rebounded moderately last year from the recession in 2009, was seen to continue recovering this year and at a more significant pace. Continually growing economies of alternative labor markets have also been boosting demand for Filipino labor.

However, the unexpected spate of political unrest in some North African and Middle Eastern countries that started last month was feared to dampen remittances as many OFWs [overseas Filipino workers] based in countries in those regions have left their jobs.

boypad

March 15th, 2011, 01:26 PM

PH electronics to lose due to Japan disasters

By Abigail L. Ho
Philippine Daily Inquirer
First Posted 18:36:00 03/15/2011
http://business.inquirer.net/money/breakingnews/view/20110315-325585/PH-electronics-to-lose-due-to-Japan-disasters

MANILA, Philippines—The massive earthquake in Japan, which triggered a tsunami and pushed the country on the brink of a nuclear disaster, will adversely affect the Philippine electronics industry as railway systems and cargo planes carrying raw materials from Japan cease to operate.

According to Ernesto Santiago, president of the Semiconductor and Electronics Industries of the Philippines Inc., railway systems servicing northeastern Japan and Tokyo had temporarily stopped operations. Cargo planes had also stopped accepting shipments due to heavy backlogs and damage to their warehouses.

Should this situation continue, locally based Japanese firms as well as Philippine manufacturers would have no raw materials to process, Santiago said.

“The major impact on Japan’s semiconductor production is ... disruption to the supply chain. Suppliers are likely to encounter difficulties in getting raw materials ... distributed, and shipping products out,” Santiago said in a statement issued on Tuesday.

“A prolonged abnormality in Japan will certainly affect material supplies in the Philippine electronics industry,” he added.

Around 18 percent of Seipi’s total members are Japanese firms. In 2010, these companies accounted for 20 percent of the Philippines’ total exports.

Meanwhile, the local automotive industry has yet to assess the impact of the earthquake on their supply.

Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc., said it has been mostly business as usual here for Japanese automobile makers.

“Note that the majority of vehicles sold in the market are sourced within the Asean (the Association of Southeast Asian Nations), although some are sourced from Japan. Some high-volume Japanese brands are locally assembled so, for those products, it’s business as usual. We have yet to fully assess the impact, if any,” Lee said.

In her own company, Universal Motors Corp., Lee said no supply shortage was expected.

Rommel Gutierrez, first vice president of the Toyota Motor Philippines Corp. for vehicle operations, said in a separate interview that the company was still checking with its parent firm in Japan whether or not there would be any local supply disruption.

“We are still checking. There’s no official report yet. Our supply comes mostly from the Asean,” he said on Tuesday.

Toyota also manufactures its popular Vios and Innova models at its manufacturing facility in Sta. Rosa, Laguna.

In the area of agricultural products, Agriculture Assistant Secretary Salvador Salacup said trade between the Philippines and Japan would continue.

“We’re studying the situation very closely. We’re talking with our trade attaché there. Our exports to Japan will still continue, but if ever there will be a slowdown, we’ll link exporters up to other markets in the region, like China and South Korea,” he said.

The country exported more than $400 million worth of agricultural products to Japan, including banana, pineapple, tuna, mango, seaweeds, asparagus, and okra, he said. Imports, on the other hand, amounted to $105 million and were made up mostly of mackerel.

amigo32

March 15th, 2011, 01:52 PM

naku domino effect na

arcabe

March 15th, 2011, 02:50 PM

naku domino effect na

wag naman sana, ang daming Japanese companies sa atin, na nagsusupply din ng parts sa Japan.

kenken94

March 15th, 2011, 03:41 PM

BSP: Hot money still rising

by Roderick T. dela Cruz
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/march/14/business1.isx&d=2011/march/14

Gross inflows of foreign funds temporarily parked in local stocks and government securities nearly tripled in the first two months of 2011, sustaining the extraordinary growth seen last year.

Bangko Sentral reported over the weekend that gross inflows of foreign portfolio investments, also known as hot money, amounted to $2.971 billion as of Feb. 25 this year, up sharply from just $1.076 billion year-on-year.

This allowed the country to attract net inflows of $762.22 million in foreign funds during the period, up 147 percent from $308.71 million a year ago.

Gross outflows also surged to $2.2 billion as of Feb. 25 from $768 million booked during the same period last year, data showed.

The Philippines last year recorded a net inflow of $4.6 billion in foreign portfolio investments, as gross inflows reached a record $13 billion.

The higher inflows contributed to a balance of payments surplus of more than $14 billion in 2010 that helped push the gross international reserves past the $60-billion mark for the first time.

Despite its efforts to buy foreign exchange, the peso still managed to appreciate by around 5 percent against the US dollar last year.

ING Bank N.V. Philippines said if the shadow reserves from foreign portfolio investments were included in the official tabulation, the country’s total gross international reserves should top $80 billion.

Joey Cuyegkeng, chief economist of ING Bank N.V. Philippines, said Bangko Sentral embarked on a strategy to come in and out of the swap market in a bid to limit the impact of the foreign portfolio investments on liquidity.

“The Bangko Sentral with all its wisdom set aside it all these money and did not include them in official reserves. Bangko Sentral set aside something like $23 billion as of October 2010,” he said.

“So, our reserves are quite in the area of $80 billion,” he said. “Inadvertently, Bangko Sentral is liquifying the system, but not in the way that would affect inflation. They reduced the reason for the hot money to come in.”

A net inflow in foreign portfolio investments contribute to the appreciation of the stock index as well as the peso against the US dollar.

Most foreign funds are invested in shares listed on the Philippine Stock Exchange while others go to peso government securities and peso time deposits.

http://bayan-natin.blogspot.com/2011/03/bsp-hot-money-still-rising.html

FlashCollider

March 15th, 2011, 08:28 PM

Sino kaya may sala?:D
Sino Noy ituturo natin?:D
Ramdam ang kahirapan
:rofl:

Clue naman dyan.

bulabog jalaur

March 15th, 2011, 08:32 PM

Reduced interest in PPP expected

THE GOVERNMENT expects less appetite from Japanese firms for projects under public-private partnership (PPP) deals this year, as that country will likely focus on reconstruction following a devastating earthquake and tsunami last week, officials said yesterday.

Finance Undersecretary John Philip P. Sevilla said in a telephone interview yesterday that Japanese firms can be expected to focus first on rehabilitation projects at home before considering investments in other countries.
"Yes, there would be an impact. It would be crazy to say there would be no impact since they may have to deal with rehabilitation," he said, when asked how the disaster could affect Japanese interest in PPP projects.
It will be recalled that Japan was the second country, after the US, to be visited by Philippine officials who briefed businessmen there on the government’s PPP program.
At the same time, Mr. Sevilla said it would be "hard to say how much (the impact would be) since there hasn’t been a formal mechanism in place (for solicitation of projects)."
He recalled, though, that there had been Japanese investors who expressed interest in PPP projects before last week’s disaster.
Budget Sec. Florencio B. Abad said it remains to be seen how much Japanese interest has been diverted to domestic needs.
"There has been no assessment so far because, as we speak, certain emergencies are still being faced, like continuing nuclear facility crisis and continuing aftershocks, not to mention priority being given to recovery and relief efforts," he said via text.
For his part, Public Works Sec. Rogelio L. Singson admitted that Japanese companies can be expected to focus on the needs of their country first.
"I would suspect they would do that...because of what happened (earthquake and tsunami)," he said in an interview.
He added, however, that the government will just have to look elsewhere for investors who will take up the slack.
"Definitely, we are not banking solely on Japan," Mr. Singson said.
"We are expecting also investors from South Korea and China and other countries," he added.

http://www.bworldonline.com/content.php?title=Reduced%20interest%20in%20PPP%20expected&id=28061

kalbongdad

March 16th, 2011, 05:52 AM

o mga katsutsu.....ito ang daming accomplishments ni pnoy....

MORE....JOBLESSNESS AND MORE....UNEMPLOYMENT o di ba...may word na more yan ibig sabihin marami.....sa marami ng accomplishments si pnoy...:lol:
ang galing lang ng bunganga....mahina sa gawa....:ohno:

NSO: More Pinoys jobless, unemployment rate at 7.4% By Mayen Jaymalin (The Philippine Star) Updated March 16, 2011 12:00 AM Comments (19)

MANILA, Philippines - More Filipinos are jobless this year.

Results of the National Statistics Office’s (NSO) Labor Force Survey yesterday showed that the number of unemployed people in the country totaled to 2.91 million in January this year from 2.82 million in the same period last year. Overall unemployment rate stands at 7.4 percent this year.

Despite the bigger unemployment figure, the Department of Labor and Employment maintained that employment prospects remained bright for new entrants to the labor force.

Nicon Fameronag, DOLE’s Labor Communication Office (LCO) director, said the government has already intensified programs to facilitate employment for new college graduates as well as other jobseekers.

“We have been publicizing in advance the schedule of job fairs so we could facilitate on-the-spot employment and DOLE is also coming out soon with results of job mapping to help jobseekers in finding jobs,” Fameronag noted.

“The job mapping is very specific because it would identify where and what the available jobs are in each region so that jobseekers need not go to a city to look for employment,” he said.

He added that DOLE is closely working with various foreign chambers of commerce so that available jobs can be immediately posted in the DOLE’s website.

He said DOLE’s philjobnet has posted about 60,000 local and overseas jobs and the number of employment opportunities is still growing.

Just recently, Fameronag said, the Atlantic, Gulf and Pacific Co. of Manila (AG&P) sought the assistance of DOLE in recruiting new workers to fill current and future vacancies in the company.

Fameronag said DOLE has also gone to the grassroots in extending job facilitation services to jobseekers nationwide.

Based on the results of the latest NSO survey, there were more unemployed males (62.7 percent of all unemployed) than females (37.3 percent). Almost half (48.9 percent) of the unemployed were in age group 15-24 years.

More than a third (35.1 percent) of the unemployed were high school graduates, and 39.1 percent reached college.

NSO chief Carmencita Ericta said the same survey indicated that the total number of underemployed or those already employed, but still desiring additional jobs went down by less than one percent to seven million.

The underemployed in the agriculture sector accounted for 44.8 percent of the total underemployed. It was 40.4 percent in the services sector and 14.8 percent in the industry sector.

But Ericta said the number of employed people during the covered period slightly grew by about 300,000 to a total of 36.29 million from last year’s 36 million.

According to Ericta, the regions that posted high employment rates in January this year were Cagayan Valley and Zamboanga Peninsula, each registering a rate of 96.9 percent; SOCCSKSARGEN, 96.8 percent; Autonomous Region in Muslim Mindanao (ARMM), 96.1 percent, and MIMAROPA, 95.7 percent.

The National Capital Region (NCR), on the other hand, recorded the lowest employment rate at 88.0 percent.

Of the estimated 36.3 million employed persons in January 2011, the services sector was the largest group comprising more than half (52.5 percent) of the total employed population.

Wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods posted the biggest number of employed at 20.0 percent.

Workers in the agriculture sector accounted for 32.9 percent of the total employed, with those engaged in the agriculture, hunting and forestry making up the largest sub-sector at 29 percent of the total employed. Only 14.5 percent of the total employed were in the industry sector, with the manufacturing sub-sector making up the largest at 8.1 percent of the total.

More than half or 54.7 percent of the total employed population in January 2011 represented wage and salary workers, with the largest percentage (40.9 percent) working for private establishments while family workers accounted for 11.3 percent of the total employed.

Of the total employed persons in January, 62.4 percent were working full time while 36.3 percent were part-time workers.

With a not-so-ideal employment picture, the government is still hoping to send more Filipino nurses and other workers to disaster-stricken Japan.

Philippine Overseas Employment Administration (POEA) chief Carlos Cao Jr. expressed belief yesterday that employment opportunities for Filipino nurses and caregivers in Japan remained bright despite the deadly earthquake and tsunami that hit the country recently.

kalbongdad

March 16th, 2011, 06:20 AM

mukhang mauunang matumba sa pnoy kesa kay little evil gloria...at the rate the economy is going......boinks.... rising unemployment...rising inflation...pano na si juan dala krus

boypad

March 16th, 2011, 06:43 AM

Businesses take stock of Japan crisis

The Manila Times.net
By Ben Arnold O. De Vera, Reporter and Darwin G. Amojelar, Senior Reporter
March 16, 2011
http://www.manilatimes.net/business/businesses-take-stock-of-japan-crisis/

PHILIPPINE businesses have begun counting the possible economic costs of Japan’s worst disaster since the Second World War, with electronics exporters warning of disruption in their raw material sourcing.

“A prolonged abnormalcy in Japan will certainly affect the material supplies . . . as, incidentally, most of the electronics industry locators in the Philippines are Japanese-owned companies,” Ernesto Santiago, Semiconductor and Electronics Industries in the Philippines Inc. (Seipi) president, said in a statement on Tuesday.

“Seipi member-companies reported that the major earthquake that hit Japan last Friday caused railways servicing northeastern Japan and Tokyo to a ground halt and closure of airports. Cargo planes did not accept shipments and have implemented an embargo . . . due to damages to their warehouses and heavy backlog caused by last Friday’s incident,” Santiago said.

“The major impact on Japan’s semiconductor production is not likely to be direct damage to production facilities, but disruption to the supply chain. Suppliers are likely to encounter difficulties in getting raw materials supplied and distributed, and shipping products out,” he said.

Japanese firms last year comprised 13.9 percent of global electronics revenues and about a fifth of global semiconductor production, Santiago said.

Almost a fifth of Seipi members are Japanese companies while roughly a fifth of last year’s Philippine electronics exports were manufactured by Japanese firms.

Also on Tuesday, the Philippines’ largest telecom company moved to assuage concern by business process outsourcing (BPO) firms over business continuity and network resiliency issues after the massive earthquake that hit Japan last week.

In a statement, Philippine Long Distance Telephone Co. (PLDT) said its network connections to the US remain operational despite the 8.9 magnitude earthquake that hit northeastern Japan.

Over the weekend, disruptions to segments of the China-US Cable Network, Japan-US Cable Network, East-Asia Crossing Network, C2C cable system and FLAG cable system caused widespread telecommunications problems to many intra-Asia and Asia-to-US connections.

Partly owned by Japan’s NTT group, PLDT said its Asia-America Gateway (AAG)—the country’s premiere cable system direct to the US mainland—was however up 100 percent.

The company said it used its activated capacity to re-route traffic from troubled cable systems, enabling it to serve its customers despite the disaster.

“We are deeply saddened by this tragedy, especially as PLDT has deep Japanese affiliation due to its relationship with NTT,” said Jovy Hernandez, PLDT vice president and head of Corporate Business Group and Smart Enterprise Sales and Marketing.

“To ensure business continuity and vital resiliency particularly for our BPO and call center clients who are US-centric, the performance of AAG affirms the immense value of PLDT’s $50M investment in this critical cable system to ensure business continuity especially for our enterprise customers,” Hernandez said.

Vic Tria, PLDT vice president and head of Corporate Business Solutions, said the AAG was also used to minimize disruptions to voice and data traffic, both for PLDT and mobile unit Smart Communications Inc.

“This ensured uptime for these essential services for all our customers,” Tria said.

The AAG cable project is a $550-million, 20,000-km long fiber optic cable network that connects Malaysia, Singapore, Thailand, Brunei Darussalam, Vietnam, Hong Kong, the Philippines, Guam, Hawaii and the US West Coast.

This project will also provide for future connectivity that can be extended to Australia, India, Africa and Europe.

3cr

March 16th, 2011, 06:55 AM

PH stock prices continue to slide
By Doris Dumlao
Philippine Daily Inquirer
03/16/2011
http://business.inquirer.net/money/breakingnews/view/20110316-325766/PH-stock-prices-continue-to-slide

MANILA, Philippines—Local stock prices fell for a fourth straight session on Wednesday as fears of a nuclear meltdown in Japan, the world's third-largest economy, injected a new wave of global jitters.

The main-share Philippine Stock Exchange index closed 17.87 points lower or 0.46 percent at 3,878.44.

Value turnover was extraordinary at P26 billion as there was a block sale estimated at P21 billion involving San Miguel Corp. The company was to make an announcement later in the day about the transaction, a company spokesperson said.

A stock trader said 300 million San Miguel shares were crossed at P70 per share.

The local market opened strongly but encountered some resistance near 3,900, thereby falling for the rest of the session but buying support close to 3,860 tempered the fall of the main index.

Despite the overall decline, there were 68 advancers against 60 decliners while 40 stocks were unchanged.

The day's decline was led by the services counter, which fell by 2.85 percent. The rest of the counters closed in positive territory.

PLDT, AEV, Aboitiz Power, Metro Pacific Investments, SM Prime and ICTSI weighed down the index.

On the other hand, investors snapped up shares of EDC, SM Investments, DMCI, AGI, First Gen, FPH, Semirara Mining, Cebu Air, Metrobank, Nickel Asia, Ayala, Banco de Oro and San Miguel.

Outside the P21-billion block sale, SMC shares were up by 1.4 percent to P162.50 on Wednesday.

____________________________________

Peso seen breaking 40:$1
By Ronnel Domingo
Philippine Daily Inquirer
03/14/2011
http://business.inquirer.net/money/breakingnews/view/20110314-325420/Peso-seen-breaking-401

MANILA, Philippines—The peso is expected to rise further through 2012 to break the 40:$1 level and trade at 39.80 in the first quarter next year, DBS Bank said in a report.
The Singapore-based bank said in its quarterly report for April-June 2011 that it remained optimistic about the medium-term fundamentals of the peso in spite of market volatility in the first quarter.

In the 136-page report, DBS said such fundamentals were stronger than those observed before the Asian financial crisis of 1997-98.

“It is not unreasonable for the dollar-peso exchange rate to fall to 40 (by the end of the year), its low seen before the 2008 financial crisis,” the bank said.

DBS took note of “the persistent surge of foreign reserves in record highs since 2005,” settling at $63.5 billion as of January.

Data from the Bangko Sentral ng Pilipinas show that the amount rose further to $63.9 billion in February.

The bank said such reserves were higher than the reported $59.8 billion external debt stock as of the third quarter of 2010.

“The other notable improvement in the past seven years was the external debt-to-GDP (gross domestic product) ratio falling to 33 percent from 73 percent,” DBS added.

In a separate report, investment bank Barclays Capital said it was raising its end-2011 peso-dollar exchange rate forecast of 40 to 41.5.

This is due, first, to a lower forecast of the balance-of-payment surplus to $10 billion from $13.5 billion amid the rise in oil prices, which will weigh on the trade balance and lower portfolio flows.

Second, Barclays Capital said that the rising inflation—which reached 4.3 percent in February—might limit the peso’s appreciation through 2011.

The investment bank also said that while the BSP was comfortable with the peso appreciation that was broadly in line with other regional currencies, it “has a bias to be in the middle of the pack rather than an outperformer.”

kalbongdad

March 16th, 2011, 06:59 AM

Peso seen breaking 40:$1
By Ronnel Domingo
Philippine Daily Inquirer
03/14/2011
http://business.inquirer.net/money/breakingnews/view/20110314-325420/Peso-seen-breaking-401

MANILA, Philippines—The peso is expected to rise further through 2012 to break the 40:$1 level and trade at 39.80 in the first quarter next year, DBS Bank said in a report.
The Singapore-based bank said in its quarterly report for April-June 2011 that it remained optimistic about the medium-term fundamentals of the peso in spite of market volatility in the first quarter.

In the 136-page report, DBS said such fundamentals were stronger than those observed before the Asian financial crisis of 1997-98.

“It is not unreasonable for the dollar-peso exchange rate to fall to 40 (by the end of the year), its low seen before the 2008 financial crisis,” the bank said.

DBS took note of “the persistent surge of foreign reserves in record highs since 2005,” settling at $63.5 billion as of January.

Data from the Bangko Sentral ng Pilipinas show that the amount rose further to $63.9 billion in February.

The bank said such reserves were higher than the reported $59.8 billion external debt stock as of the third quarter of 2010.

“The other notable improvement in the past seven years was the external debt-to-GDP (gross domestic product) ratio falling to 33 percent from 73 percent,” DBS added.

In a separate report, investment bank Barclays Capital said it was raising its end-2011 peso-dollar exchange rate forecast of 40 to 41.5.

This is due, first, to a lower forecast of the balance-of-payment surplus to $10 billion from $13.5 billion amid the rise in oil prices, which will weigh on the trade balance and lower portfolio flows.

Second, Barclays Capital said that the rising inflation—which reached 4.3 percent in February—might limit the peso’s appreciation through 2011.

The investment bank also said that while the BSP was comfortable with the peso appreciation that was broadly in line with other regional currencies, it “has a bias to be in the middle of the pack rather than an outperformer.”

sya nawa.......do you know what is wrong with this write up.....it is in future tense......you could always say $1 = P1 in 2050 .....and nobody would be sure if it will be....:lol: this are the kind of things that media spinners from the palace enjoys.....am not saying that you are.... no offense...

3cr

March 16th, 2011, 07:14 AM

World oil prices dive on Japan nuclear disaster fears
Agence France-Presse
03/16/2011
http://business.inquirer.net/money/breakingnews/view/20110316-325710/Oil-prices-dive-on-Japan-nuclear-disaster-fears

NEW YORK—Crude oil prices plunged Tuesday as fears grew over a potential nuclear disaster in Japan.

New York's main contract, light sweet crude for delivery in April, closed at $97.18 a barrel, down a hefty $4.01 from Monday's closing level.

In London, Brent North Sea crude for delivery in April slumped $5.15 to settle at $108.52 a barrel

"There is so much uncertainty in the markets at the moment," said Sucden analyst Myrto Sokou.

"The oil market is on a downtrend, tracking heavy losses in the global equity markets and a 10-percent collapse in Nikkei, amid serious concerns about a potential nuclear disaster in Japan," Sukou said.

"The market sentiment has been hurt and there is a serious lack of risk appetite right now that prompted investors to this heavy sell-off."

Japan, the world's third-largest economy, is also the number-three oil-consuming country. But its demand for crude oil is expected to drop in the aftermath of the worst earthquake in its history and a subsequent massive tsunami.

After several explosions at the Fukushima nuclear plant, radiation levels have risen and there are fears now of a major leak.

"Substantial radiation leaks will likely hamper reconstruction and economic activity resulting in reduced oil consumption," said Bjarne Schieldrop, chief commodities analyst at Swedish banking group SEB.

"This is the main concern pushing the oil price lower today."

Traders also were keeping an eye on growing unrest in Bahrain, a neighboring country to Saudi Arabia, the world's largest oil exporter.

At least 200 people were shot and wounded on Tuesday in a Shiite village south of the Bahraini capital, a medic said, as the king imposed a state of emergency after bringing in Saudi and Emirati troops to help quell anti-regime protests.

"It sounds to me like the Saudis are becoming very nervous about what might happen with the Shiite minority in Saudi Arabia," said Andy Lipow at Lipow Oil Associates.

Disruptions to oil production in Libya were also on investors' radar although the "industry probably factored in a long period without Libyan oil a week or so ago," said Philip Wiper, an analyst at brokers PVM.

Oil production has almost ground to a halt in Libya because of the country's unrest, the Paris-based International Energy Agency (IEA) said Tuesday.

The IEA, which provides energy policy advice for oil-consuming nations, added that there would be a marked economic slowdown should oil prices remain high.

Although prices are falling, they are still far above levels seen at the start of the year.

Current high oil prices "entail significant downside risks to this year's outlook," it said in its latest monthly report.

Brent crude has risen by around 50 percent in the last six months, first on very strong demand as global economies picked up post-recession traction, and then on "increased regional geopolitical risk in North Africa and the Middle East," the IEA said.

"If prices remain at current levels or rise further, by September 2011, if not before, the global economy may feature a marked slowdown," the report warned.

_______________________________________________

Philippines least preferred by Japanese firms
By Jessica Anne D. Hermosa, BusinessWorld
source: http://www.abs-cbnnews.com/business/03/09/11/philippines-least-preferred-japanese-firms

MANILA, Philippines - The country remains the least preferred site in Southeast Asia for Japanese investment, a survey showed, at a time when firms from the Asian powerhouse are increasingly relocating from their homeland and from China.

Infrastructure, supply chain clustering and the legal system here were the common concerns that came up in the Japan External Trade Organization (JETRO) survey, released in the run-up to a review later this year of a bilateral trade deal between the 2 countries.

According to 473 Japanese firms surveyed in November to December 2010, the Philippines figured as the least preferred site among 6 Southeast Asian countries for expansion in the next 3 years of sales, production, research, and logistics operations.

The country trailed behind Singapore, Thailand, Indonesia, Malaysia and Vietnam.

It bested Vietnam and Malaysia only in terms of preference for expansion of regional headquarters, which the Japanese Chamber of Commerce of the Philippines attributed to Filipinos’ good command of English.

"It’s convenient here because you speak English," chamber vice-president Nobuo Fujii said in a telephone interview. But for factories, high energy costs in the Philippines "is just one of the headaches", Mr. Fujii added.

"Inadequate infrastructure, lack of clustering or development of related industries and ... problems with legal operation" were the most common concerns in the Philippines cited by respondents, JETRO said.

The Philippines’ poor showing, according to the survey, also comes at a time when Japanese firms are increasingly interested in expanding abroad.

Sixty-nine percent of the wider 1,002 sample of Japanese firms plan to expand overseas in the next 3 years, a figure higher than the 56% recorded in 2009.

The survey had also noted increasing tendencies for Japanese locators in China to transfer elsewhere due to rising production costs there.

Among the 232 cases of relocation of Japanese firms from wherever they were in the world, 33.6% moved to Southeast Asia, according to the survey.

This is slightly better than the 32.8% that moved to China. The results were also a turnaround from the 2006 survey which found that China was more preferred.

The Philippines, said Mr. Fujii, has had its share of Japanese investors that have transferred from China.

"There are so many. They make various kinds of products: garments, electronics and small components," he said.

Despite this, the Philippines has attracted just a small piece of the Japanese investment pie. The survey said that only 13.1% of the respondents had bases in the country, the lowest among the 5 Southeast Asian economies.

3cr

March 16th, 2011, 07:20 AM

Banks set to fund PPP but projects not ready
By Ronnel Domingo
Philippine Daily Inquirer
03/15/2011
http://business.inquirer.net/money/features/view/20110315-325667/Banks-set-to-fund-PPP-but-projects-not-ready

MANILA, Philippines—Banks are willing to finance public-private partnership (PPP) infrastructure projects, but the government appears to be dragging its feet, according to an industry official.

According to Marcelo Ayes, senior vice president of Rizal Commercial Banking Corp., some P1.3 trillion in funds are now parked at special depositary accounts with the Bangko Sentral ng Pilipinas.

Ayes was referring to a BSP facility through which banks and other financial institutions maintain fixed-term deposits, enabling them to effectively manage excess liquidity.

The Bangko Sentral in November 1998 opened its SDA facility, allowing banks and their trust departments, as well as those of non-bank financial institutions, to set up fixed-term accounts where they could deposit their cash resources.

Currently, seven-day SDAs yield 4.0625 percent while two-week and one-month SDAs yield 4.125 percent and 4.1875 percent, respectively.

Concerns

“If you add other liquid assets in the domestic market, available funding is more than double the P700 billion the government said it needs for the major PPP projects,” Ayes told the Inquirer.

“Banks are willing to help address the country’s need for infrastructure, within the limits of regulatory requirements, especially those relating to exposure and capitalization,” he added.

But Ayes admitted that the finance institutions would not expose themselves needlessly to risks that their “viability would be endangered ... there are regulations that are meant to ensure this.”

At present, banks are also looking at concerns raised by international observers, such as multilateral institutions like the World Bank, Ayes said.

Before foreign investors consider the transfer of substantial funds to support a particular public project in the country, the Philippine government will have to provide firm foundation in terms of improved investment climate and must address investors’ fears of legal and administrative complications that may threaten the project, foreign observers said.

“Persistent problems about conflicting national and local government policies, court orders and other such complications, will not help PPPs to take off,” Ayes said. “Banks’ commitment is tentative at this point, but we agree that PPPs should be pushed by addressing all these concerns. Right now, government efforts to this effect are rather slow.”

Most promising

Early in February, Finance Secretary Cesar V. Purisima said Malacañang had committed itself to 11 major PPP projects this year. The government must bid out a few of these projects in the first six months of the year.

But Philamer C. Torio, executive director of the PPP Center of the Philippines, said all the projects lined up for funding would still have to be backed by feasibility studies. Some studies have yet to be completed or need to be updated.

Torio said the NAIA [Ninoy Aquino International Airport] Expressway seems to be the most promising in terms of readiness. He was referring to the $253.33-million, 4.9-kilometer elevated link between the Skyway and the Manila-Cavite Coastal expressways to the NAIA terminals.

He expressed confidence that bidding for the NAIA Expressway project would be conducted in June or July.

The government is also seeking help from private firms to build a new airport in Panglao Island off Bohol; refurbish another in Puerto Princesa City, Palawan; and build a third in Daraga, Albay.

A fourth airport, the $28-million Laguindingan airport in Misamis Oriental, will be privatized, along with the Light Rail Transit Line 1 and Metro Rail Transit Line 3.

Expansion

The state will foot the bill for construction work on the expansion of the LRT 1 that spans the length of Taft Avenue from Monumento to Pasay City.

The LRT 1 will be privatized at market price.

Similarly, the capacity of MRT 3—which runs the length of Epifanio de los Santos Avenue—will be expanded, servicing more passengers, at a cost of $140 million.

Operations will subsequently be turned over to a concessionaire.

Also, the LRT 1 will be extended to the south of Metro Manila, while the LRT Line 2 that spans the length of Aurora Boulevard, will be lengthened eastward toward Antipolo City in Rizal.

Other tollway projects included in this year’s PPP package—which private firms are expected to build—are the Cavite-Laguna Expressway, and a link between the North Luzon Expressway and South Luzon Expressway.

Infra work up for funding still needs feasibility studies.

__________________________________

DTI organizes Asia investment missions for PPP projects
By Ma. Elisa P. Osorio
The Philippine Star
03/16/2011
http://www.abs-cbnnews.com/business/03/15/11/dti-organizes-asia-investment-missions-ppp-projects

MANILA, Philippines - The Department of Trade and Industry (DTI) is organizing investment missions to India, Indonesia and Singapore as these countries expressed interest in participating in the country’s public private partnership (PPP) projects.

In an interview, Trade Secretary Gregory L. Domingo, who accompanied President Aquino during his visit in Singapore and Indonesia, said that they met with big business groups from both countries.

“The challenge now is to organize an investment mission from India, Indonesia and Singapore,” the secretary said. He included India because Domingo said they have just visited that country.

“We are trying to entice big groups in both countries (Indonesia and Singapore) to look into the Philippines and we were able to get the message across,” Domingo told reporters.

Domingo said that it is important to bring the potential investors to the Philippines in order to show the business leaders that the Philippines is an attractive business destination.

Domingo said that they highlighted that the investment environment here is stable and that it is now easier to do business here.

In Indonesia, Domingo said they met with Bakrie and Brothers and the Salim Group. Bakrie & Brothers is one of Indonesia’s foremost corporations with a scope of business interests that spans such profit centers as infrastructure, telecommunication, and plantations.

The Salim Group is Indonesia’s biggest conglomerate with assets including Indofood Sukses Makmur, the world’s largest instant noodle producer, and Bogasari, a large flour-milling operation. Domingo said that the Philippines needs to maintain their relationship with the Salim Group because they already have an existing interest here.

Domingo said that for Indonesia, the Philippines is looking at attracting investments in petrochemicals, agriculture and manufacturing industries that can complement current operations here because the costs in Indonesia is slightly lower. “There are also several groups who expressed their interest in tourism type of activities.

3cr

March 16th, 2011, 07:26 AM

Aquino’s economic diplomacy
Lito U. Gagni / Market Files
Business Mirror
http://www.businessmirror.com.ph/home/opinion/8650-aquinos-economic-diplomacy

President Aquino has won the admiration and respect of hard-nosed businessmen from Singapore with the kind of economic diplomacy that he showed during his two-day state visit to that island-nation.

The assurances he made on issues over which Singapore businessmen had expressed anxiety have apparently been addressed, resulting in their pledges of participation in the administration’s PPPs, or the public-private partnership projects; five of these projects are to be bidded out by the end of this month. With an investment tag of $1 billion, that huge amount will redound to a big surge in the country’s economic growth without the crippling effects of government debts.

The President also appears to have succeeded in erasing the doubts about his administration’s resolve to tackle corruption, as well as procurement shenanigans. In a speech before the iconic Fullerton House, a former post office building converted into a hotel, the President stressed the Philippines’ desire to catch up with its neighbor and his demeanor all throughout cast aside any doubt on the country’s resolve. The walk up 24 flights of stairs when the elevator at the water-treatment plant stalled illustrated his determination to reach his goal, regardless of the obstacles. Why, even the flight via a budget carrier just so he is on schedule in his first stop, Indonesia, earned quiet raves from the staid businessmen accustomed to flying business class. The President could have booked a chartered flight but he chose to take the budget airline instead, sticking to his administration’s mantra of judicious spending.

That communicated very well the administration’s resolve not to resort to profligacy. It can be said that what Filipino diplomats have been trying to achieve in so many years, which is to woo investments, the President accomplished through actions that strongly echoed his words. The Singapore visit proved Mr. Aquino’s economic statesmanship; he has done us proud

The trip to Indonesia also showed Mr. Aquino’s grasp of the imminent oil crisis now playing out in the Middle East. His quiet push for an oil-supply agreement with Indonesian President Susilo Bambang Yudhoyono revealed the administration’s determination to address any oil-supply disruption and ensure the country’s economic future.

Unbeknown to many, the President had also issued an administrative order creating a committee that will map out a contingency plan on the Middle East crisis. Administrative Order 6 established the Interagency Contingency Committee to evaluate and enhance the contingency plan revolving on oil issues. The committee, to be chaired by Energy Secretary Rene Almendras, will formulate the country’s strategy on oil, particularly on addressing the disruptive effects of rising gasoline prices on the economy. The committee’s recommendations will be tackled during a meeting next Monday.

The flurry of news on the President’s economic and oil diplomacy and the quiet establishment of an oil contingency committee have apparently not been disseminated to the public, a communication slip-up. Clearly, the President’s achievements in Singapore and Indonesia should be given prominent play in the media and their impacts assessed for the public’s benefit. It’s just too bad that the President’s quiet work has apparently remained outside the public realm.

______________________________________

Gov’t posts P13.4B budget surplus
Customs, BIR collections increased sharply in Jan.
By Ronnel Domingo
Philippine Daily Inquirer
03/15/2011
http://business.inquirer.net/money/topstories/view/20110315-325654/Govt-posts-P134B-budget-surplus

MANILA, Philippines—The government posted a budget surplus of P13.4 billion in January as revenues jumped 47 percent, Finance Secretary Cesar V. Purisima said Tuesday.

The January fiscal position reversed a deficit of P37.1 billion posted in the same month of 2010.

The surplus was registered “on the back of much improved revenue collections and the P24-billion remittances of government-owned and controlled corporations (GOCCs)” to the Treasury, Purisima said.

The finance chief added that a primary surplus of P49.3 billion was posted in January, “which is the sixth primary surplus posted by the Aquino administration from July 2010.”

The government’s fiscal position computed without interest payments is the so-called primary surplus or deficit.

Documents from the Bureau of the Treasury showed that total government revenues in January reached P135.9 billion, or 47.3-percent higher than the P92.3 billion a year ago.

Of the total, the Bureau of Internal Revenue accounted for P74.6 billion, or 15.4-percent higher than last year’s P64.6 billion.

Internal Revenue Commissioner Kim S. Henares said the agency’s January collections surpassed the month’s target of P71.97 billion by P2.59 billion or about 3.6 percent.

“Meeting the target [in] the first month of the year is a good signal for the BIR,” Henares said. “However, it is still early in the year and we will continue our efforts to collect from everyone what is due.”

The Bureau of Customs collected P20.5 billion in January, 16.6-percent better than the P17.6 billion a year ago.

The Bureau of the Treasury yielded P31 billion, up six times from P5.2 billion, while other revenue offices turned in P9.8 billion, double the P4.9 billion last year.

Expenditures also fell 5.3 percent to P122.5 billion from P129.4 billion in January 2010.

“The trend improvement in cash collections of the BIR and BOC since the last quarter of 2010 clearly shows that the reforms implemented by the Aquino administration … as well as the intensified campaign against tax evaders and smugglers have started to produce good results,” Purisima said.

He noted that Customs, since July last year, has filed 28 criminal complaints that have a combined dutiable value of P42.5 billion and involved 134 respondents consisting of importers, brokers and BOC employees.

3cr

March 16th, 2011, 07:52 AM

Reduced prices of prime commodities seen shortly
Max V. de Leon / Reporter
March 15, 2011
http://www.businessmirror.com.ph/home/economy/8657-reduced-prices-of-prime-commodities-seen-shortly

PRODUCERS and retailers indicated a softening of prices for essential commodities, such as flour and flour-based products, sugar and cooking oil during a meeting yesterday of the National Price Coordinating Council (NPCC).

“We are getting good news and more good news,” Trade Secretary for Consumer Welfare Zenaida Maglaya told reporters after the NPCC meeting.

For sugar, she said, production was in full swing and prices could go down to P52 to P54 per kilo or even better, in the next two weeks.

Cooking oil prices have already dropped, she said, as the value of copra has fallen to P53 per kilo from P65.

For flour, Maglaya said, the catastrophe in Japan caused the demand for wheat in the world market to drop significantly, and this is welcome news for the local flour millers, the producers of bread and other flour-based products, and subsequently the consumers.

Ric Pinca, executive director of the Philippine Association of Flour Millers (Pafmil), said Japan is the second-biggest buyer of US wheat and with its demand going down, the cost of wheat per bushel has fallen to $8 per bushel from $10 per bushel.

However, Pinca said this would be felt by the consumer in about three months since the wheat that will be bought by the local millers today would arrive in the country and then processed into flour during that time span.

“At least we no longer anticipate flour prices to reach P1,000 per bag as we feared earlier. From now on, we will see the stabilizing effect,” Pinca said. Flour per 25-kilogram bag is now being sold between P900 to P930.

Maglaya said a representative of milk-producer Alaska informed the NPCC members that the 3-percent price increase it implemented recently would no longer be followed by further increases.

Pinoy Tasty, the generic version of bread loaves, will remain at P38, Maglaya said. Supermarkets and grocery owners said prices were expected to go down soon and that supply was not a problem.

Agriculture Assistant Secretary Salvador Salacup said there was no alert yet from the Japanese authorities that its food exports to the Philippines, mainly mackerel and sardines, have been contaminated by the radiation that was released from the damaged nuclear power plants in the quake and tsunami-affected portions of Japan.

As for the Philippine exports of farm products to Japan, Salacup said little negative effect should be felt since the Philippine products are being sold mostly in the Tokyo area.

The Philippines exports about P500 million worth of agricultural products to Japan. Salacup said there were also efforts to link the Philippine exporters to other nearby markets such as China and Southeast Asia.

_______________________________________________

January remittances up 7.6% to $1.48-B
abs-cbnNEWS.com
http://www.abs-cbnnews.com/business/03/15/11/january-remittances-76-148-b

MANILA, Philippines - Filipinos working abroad sent home $1.48 billion in January, a 7.6% increase.

In a statement on Tuesday, the Bangko Sentral ng Pilipinas noted that remittances "remained resilient on the back of sustained demand for skilled overseas Filipino workers in different destinations worldwide."

In 2010, remittances reach a record $18.8 billion.

Bulk, or 80%, of the remittances coursed through banks came from the United States, Canada, Saudi Arabia, Japan, the United Kingdom, Singapore, United Arab Emirates, and Italy.

Due to the unrests the Middle East and north Africa, which is host to OFWs whose remittances account for about 16% of the annual total, and the recent disasters that hit Japan, also a major destination of OFWs, monetary officials said they will review their targets this year.

Monetary officials have expected remittances to post an 8% increase in 2011 following the global economic recovery. In 2010, the Philippine economy also grew at a record 7.3%.

The remittance flows also affect balance of payments, which the BSP has forecasted to reach a surplus of $6 billion to $8 billion in 2011 after a record surplus of $14.4 billion in 2010.

The BSP had said they are monitoring the different developments and would consider these at a policy review on March 24.

AmbutLang

March 16th, 2011, 08:36 AM

All branches closed: Banco Filipino on bank holiday
By Jessica Ann R. Pareja and Ehda Dagooc (The Freeman) Updated March 16, 2011 12:00 AM
CEBU, Philippines - Depositors of Banco Filipino became anxious yesterday when all of its branches nationwide closed for a “bank holiday.”

No account holder was able to withdraw money even from the bank’s ATM (Automated Teller Machine) while checks have been bouncing since Friday.

In a Banco Filipino branch along General Maxilom Avenue in Cebu City, panic caught a teary-eyed Aida Rebojo when she told GMA Balitang Bisdak that she was supposed to withdraw money for her business.

Worse, she was left clueless because nobody from the bank’s management in Cebu cared to talk to them to explain.

Only the guards were there to give the notice that the bank instructed to be disseminated to its depositors.

The notice dated March 14 was signed by Banco Filipino Executive Vice President Maxy Abad. It said that bank is suffering from extraordinary panic “caused by a well orchestrated smear campaign quoting BSP as the source of inaccurate and malicious imputations.”

The memo added, “Banco Filipino is exhausting all efforts to protect its depositors by asking the BSP to stave off the heavy withdrawals by denying the derogatory news articles attributed to them and by providing emergency loan assistance after submitting sufficient collateral.”

Banco Filipino is asking for a P25-billion financial assistance from the Banko Sentral ng Pilipinas (BSP).

“Despite the urgency of all these requests, we have not received any official word from the BSP Monetary Board on the action they have taken, if any. Furthermore, we have also reiterated the immediate implementation of the approved business plan as ordered by the Makati regional trial court," Abad further said in the memo.

BSP, in a statement, said that numerous complaints were received by the office from depositors of Banco Filipino across the country.

“Accordingly, we have sent a letter addressed to the management of Banco Filipino asking them to explain the bank’s status to its clients and to the BSP. We are now awaiting their official response,” the BSP said.

Depositors hope the bank will open today.

BANKERS CLUB STATEMENT

While Banco Filipino still has to give its official statement, on the closure of all the bank branches nationwide, Cebu Bankers Club (CBC) urged the bank's depositors to stay calm and not panic, while waiting for updates.

"We hope for the best while awaiting for the updates. Unless there's already a go signal to resume banking services, it may not be the best time to go to branches [if they are closed]," said Prudencio Gesta, former Cebu Bankers Clubs (CBC) president.

According to Gesta, to demand anyone (from the bank) cash from account withdrawal since branches are only dependent from their headquarters' instructions.

Normally, any financial assistance from Bangko Sentral Ng Pilipinas (BSP) is subject to compliance of some requirements. "I think the Banco Filipino is still working for it."

In 2009, the Philippine Deposit Insurance Corporation (PDIC) has announced the increase of its maximum deposit insurance coverage (MDIC) for bank deposit to P500 thousand.

The doubling of the MDIC through the passage of Republic Act No. 9576 is a means to promote and safeguard the interests of the depositing public, PDIC announced earlier.

About 97.2 percent of total deposit accounts in banking system are protected with deposit insurance.

Banco Filipino has been seeking P25 billion in rehabilitation assistance and P19 billion in damages from the BSP for the 1985 closure that the Supreme Court said it was illegal. The bank reopened in 1994.

http://www.philstar.com/Article.aspx?articleId=666683&publicationSubCategoryId=107
:ohno:

RonnieR

March 16th, 2011, 09:14 AM

Gov’t posts P13.4B budget surplus
Customs, BIR collections increased sharply in Jan.
By Ronnel Domingo
Philippine Daily Inquirer
03/15/2011
http://business.inquirer.net/money/topstories/view/20110315-325654/Govt-posts-P134B-budget-surplus

MANILA, Philippines—The government posted a budget surplus of P13.4 billion in January as revenues jumped 47 percent, Finance Secretary Cesar V. Purisima said Tuesday.

The January fiscal position reversed a deficit of P37.1 billion posted in the same month of 2010.

The surplus was registered “on the back of much improved revenue collections and the P24-billion remittances of government-owned and controlled corporations (GOCCs)” to the Treasury, Purisima said.

The finance chief added that a primary surplus of P49.3 billion was posted in January, “which is the sixth primary surplus posted by the Aquino administration from July 2010.”

The government’s fiscal position computed without interest payments is the so-called primary surplus or deficit.

Documents from the Bureau of the Treasury showed that total government revenues in January reached P135.9 billion, or 47.3-percent higher than the P92.3 billion a year ago.

Of the total, the Bureau of Internal Revenue accounted for P74.6 billion, or 15.4-percent higher than last year’s P64.6 billion.

Internal Revenue Commissioner Kim S. Henares said the agency’s January collections surpassed the month’s target of P71.97 billion by P2.59 billion or about 3.6 percent.

“Meeting the target [in] the first month of the year is a good signal for the BIR,” Henares said. “However, it is still early in the year and we will continue our efforts to collect from everyone what is due.”

The Bureau of Customs collected P20.5 billion in January, 16.6-percent better than the P17.6 billion a year ago.

The Bureau of the Treasury yielded P31 billion, up six times from P5.2 billion, while other revenue offices turned in P9.8 billion, double the P4.9 billion last year.

Expenditures also fell 5.3 percent to P122.5 billion from P129.4 billion in January 2010.

“The trend improvement in cash collections of the BIR and BOC since the last quarter of 2010 clearly shows that the reforms implemented by the Aquino administration … as well as the intensified campaign against tax evaders and smugglers have started to produce good results,” Purisima said.

He noted that Customs, since July last year, has filed 28 criminal complaints that have a combined dutiable value of P42.5 billion and involved 134 respondents consisting of importers, brokers and BOC employees.

What an accomplishment for BIR. Keep it up. :cheers::cheers:

Sleepwalker

March 16th, 2011, 10:39 AM

first knight

March 16th, 2011, 11:06 AM

Philippines least preferred by Japanese firms
By Jessica Anne D. Hermosa, BusinessWorld
source: http://www.abs-cbnnews.com/business/03/09/11/philippines-least-preferred-japanese-firms

MANILA, Philippines - The country remains the least preferred site in Southeast Asia for Japanese investment, a survey showed, at a time when firms from the Asian powerhouse are increasingly relocating from their homeland and from China.

Infrastructure, supply chain clustering and the legal system here were the common concerns that came up in the Japan External Trade Organization (JETRO) survey, released in the run-up to a review later this year of a bilateral trade deal between the 2 countries.

According to 473 Japanese firms surveyed in November to December 2010, the Philippines figured as the least preferred site among 6 Southeast Asian countries for expansion in the next 3 years of sales, production, research, and logistics operations.

The country trailed behind Singapore, Thailand, Indonesia, Malaysia and Vietnam.

It bested Vietnam and Malaysia only in terms of preference for expansion of regional headquarters, which the Japanese Chamber of Commerce of the Philippines attributed to Filipinos’ good command of English.

"It’s convenient here because you speak English," chamber vice-president Nobuo Fujii said in a telephone interview. But for factories, high energy costs in the Philippines "is just one of the headaches", Mr. Fujii added.

"Inadequate infrastructure, lack of clustering or development of related industries and ... problems with legal operation" were the most common concerns in the Philippines cited by respondents, JETRO said.

The Philippines’ poor showing, according to the survey, also comes at a time when Japanese firms are increasingly interested in expanding abroad.

Sixty-nine percent of the wider 1,002 sample of Japanese firms plan to expand overseas in the next 3 years, a figure higher than the 56% recorded in 2009.

The survey had also noted increasing tendencies for Japanese locators in China to transfer elsewhere due to rising production costs there.

Among the 232 cases of relocation of Japanese firms from wherever they were in the world, 33.6% moved to Southeast Asia, according to the survey.

This is slightly better than the 32.8% that moved to China. The results were also a turnaround from the 2006 survey which found that China was more preferred.

The Philippines, said Mr. Fujii, has had its share of Japanese investors that have transferred from China.

"There are so many. They make various kinds of products: garments, electronics and small components," he said.

Despite this, the Philippines has attracted just a small piece of the Japanese investment pie. The survey said that only 13.1% of the respondents had bases in the country, the lowest among the 5 Southeast Asian economies.

As a consolation, Pinoy conglomerates are heavily investing in our country on the other hand. Led by with new image San Miguel Corp, Metro-Pacific, Ayala Corp., SM Investments, JG Summit Corp., Aboitiz, Lopez Group and their respective affiliates they are making the economy afloat despite weak foreign investments.

At the same time, Koreans and Americans are still investing here. The case of the Lopez-Korean solar panel related investment is a good example. Found in the news that Korean Hanjin is going to pursue eventually the second shipyard in Mindanao.

Perhaps the Chinese with the recent investments in an auto assembly (China's Great Wall - Phils' StateMotor) and motorcycle plant (Chinese group with local Racal Group).

3cr

March 16th, 2011, 11:19 AM

^^Yup with Japan needing to concentrate on their domestic affairs anyway, I don't think they'll be much of a factor for the Philippines in terms of FDI and PPP at this point. It's good other of our asian neighbors are stepping in as well so I don't think Japan will be sorely missed as far as FDI and PPP in the Philippines. It's good to hear as well that S&P is very positive Asia will post solid growth numbers despite problems in Japan and the Middle East.

Asia set for solid growth despite Japan quake: S&P
Agence France-Presse
03/16/2011
http://www.abs-cbnnews.com/business/03/16/11/asia-set-solid-growth-despite-japan-quake-sp

SINGAPORE - Asia is poised for another year of solid growth in 2011 even if the impact of the killer earthquake and tsunami on Japan remains unclear, Standard and Poor's said Wednesday.

"We expect the region to record another year of solid growth in 2011 after 2010 proved that Asia is emerging from the (global financial) crisis in a strong position, even as the economic picture for Japan following the recent earthquake remains less clear," said Tom Schiller, a senior regional analyst.

"But growth presents a unique set of challenges for policy makers, officials, and investors across the Asia-Pacific region," he said.

However, growth for the region with the exception of Australia and New Zealand is expected to moderate slightly from last year because of ongoing worries over the US and euro-zone economies, Standard and Poor's said.

Inflationary pressure is a key concern for the region, which faces the prospect of tighter monetary policies as authorities seek to temper price rises, it said in its twice-yearly regional outlook.

"Rising prices stem in part from rapid growth and the easy credit conditions that the region’s governments put in place to support their economies during the global financial crisis," the credit ratings firm said.

"We expect the region’s central banks to continue to tighten monetary policy this year."

That means central banks will raise interest rates to fight inflation.

Standard and Poor's also said regional central banks may also consider further capital control measures and other actions to prevent risky assets bubbles.

Powerhouse China is projected to grow 9.1 to 9.6% in 2011, lower than last year's 10.3% and this is expected to impact the rest of the region, Standard and Poor's said.

"Chinese authorities are adopting measures to rein in expansionary monetary policy to help combat rising inflation, escalating asset prices, and higher wage inflation," it added.

"We expect these tightening measures are likely to prune money supply and credit growth in 2011. Slowing growth in China is likely to drag on growth around the region, in our view, with many nations beginning to post softer growth numbers."

Japan, which is struggling to cope with the devastation wrought by a magnitude 9.0 earthquake and tsunami on Friday, that triggered a crisis at a nuclear power station, is seen as growing 1.3-1.8%.

The world's third largest economy expanded 4.0% last year.

South Korea's economy is projected to grow 4.3-4.8% from 6.1% in 2010.

Within Southeast Asia, Singapore's growth is to moderate sharply to 4.5-5.0% from 14.5% last year, Malaysia is seen expanding 4.8-5.3% and Indonesia to grow 5.9-6.4% from 6.1%.

The Philippines is expected to grow 5.1-5.6% this year from 7.3% and Thailand's economy will ease to 4.0-4.5% from 7.8%.

kalbongdad

March 16th, 2011, 11:21 AM

Good news on Pinoys successful trip to Indonesia and Singapore....Good news on budget surplus...Good news on possible lowering of price for some basic commodities.

Sana patuloy ang good news.... :cheers:

eto naman.....

PH unemployment up....7.4% ..... kasalanan ito ni little evil gloria malamang....di ba pnoy? ....

first knight

March 16th, 2011, 11:28 AM

first knight

March 16th, 2011, 11:36 AM

eto naman.....

PH unemployment up....7.4% ..... kasalanan ito ni little evil gloria malamang....di ba pnoy? ....

True. can be partly blamed on Gloria.After a decade of installing a poor employment generating type of economy (more on consumption and services and the destruction of the manufacturing industry and agriculture), it will take time to resuscitate these two main sectors of our economy.

On the other hand, I agree with you that this should have been the top priority.

Suggestions, immediately pour substantial investments in agriculture and agro-industrial investments.

Strengthen or improve high income and employment generating industries like manufacturing and BPO.

Reduce importation and increase massively local procurement of raw materials and local products.

first knight

March 16th, 2011, 11:42 AM

The articles points to a fact that we need to strengthen our local manufacturing capability and the need to have a strong local investors presence in our economy.

Japan woes to hurt PH industry

Some firms feel pinch as supply chain is disrupted

By Abigail L. Ho
Philippine Daily Inquirer
First Posted 22:40:00 03/15/2011

MANILA, Philippines—The massive earthquake in Japan, which triggered a tsunami and pushed the country on the brink of a nuclear disaster, will adversely affect the Philippine electronics industry as railway systems and cargo planes carrying raw materials from Japan cease to operate.

According to Ernesto Santiago, president of the Semiconductor and Electronics Industries of the Philippines Inc. (Seipi), railway systems servicing northeastern Japan and Tokyo had temporarily stopped operations. Cargo planes had also stopped accepting shipments due to heavy backlogs and damage to their warehouses.

Should this situation continue, locally based Japanese firms as well as Philippine manufacturers would have no raw materials to process, Santiago said.

“The major impact on Japan’s semiconductor production is ... disruption to the supply chain. Suppliers are likely to encounter difficulties in getting raw materials ... distributed, and shipping products out,” Santiago said in a statement issued Tuesday.

“A prolonged abnormality in Japan will certainly affect material supplies in the Philippine electronics industry.”

Around 18 percent of Seipi’s total members are Japanese firms. Last year, these companies accounted for 20 percent of the Philippines’ total exports.

Meanwhile, the local automotive industry has yet to assess the impact of the earthquake on their supply.

Chamber of Automotive Manufacturers of the Philippines Inc. president Elizabeth Lee said it was still mostly business as usual here for Japanese automakers.

“Note that the majority of vehicles sold in the market are sourced within (the Association of Southeast Asian Nations), although some are sourced from Japan. Some high-volume Japanese brands are locally assembled so, for those products, it’s business as usual. We have yet to fully assess the impact, if any,” Lee said.

In her own company, Universal Motors Corp., Lee said no supply shortage was expected.

Toyota Motor Philippines Corp. first vice president for vehicle operations Rommel Gutierrez said in a separate interview that the company was still checking with its parent firm in Japan whether or not there would be any local supply disruption.

“We are still checking. There’s no official report yet. Our supply comes mostly from the Asean,” he said.

Toyota also manufactures its popular Vios and Innova models at its manufacturing facility in Sta. Rosa, Laguna.

In the area of agricultural products, Agriculture Assistant Secretary Salvador Salacup said trade between the Philippines and Japan would continue.

“We’re studying the situation very closely. We’re talking with our trade attache there. Our exports to Japan will still continue, but if ever there will be a slowdown, we’ll link exporters up to other markets in the region, like China and South Korea,” he said.

The country exported more than $400 million worth of agricultural products to Japan, including banana, pineapple, tuna, mango, seaweeds, asparagus and okra, he said. Imports, on the other hand, amounted to $105 million and were made up mostly of mackerel.

KnightOfTheFlag

March 16th, 2011, 02:33 PM

BEFORE....

Unemployment Rate (% of Labour Force) Statistics for philippines , Year 2010 - In Detail

Link: economywatch.com (http://www.economywatch.com/economic-statistics/philippines/Unemployment_Rate_Percentage_of_Labour_Force/)

Unemployment Rate (% of Labour Force) for philippines in year 2010 is 7.2 %

This makes philippines No. 62 in world rankings according to Unemployment Rate (% of Labour Force) in year 2010. The world's average Unemployment Rate (% of Labour Force) value is %; philippines is 7.20 more than the average.

In the previous year, 2009, Unemployment Rate (% of Labour Force) for philippines was 7.48 % Unemployment Rate (% of Labour Force) for philippines in 2010 was or will be 3.68% less than it was or will be in 2009.

In the following or forecasted year, 2011, Unemployment Rate (% of Labour Force) for philippines was or will be 7.20 %, which is 0.00% more than the 2010 figure.

NOW....

Link: http://www.mb.com.ph/articles/309607/unemployment-rate-hits-74-jan

Unemployment rate hits 7.4% in Jan.
By EDU LOPEZ
March 15, 2011, 11:08pm

MANILA, Philippines – The unemployment rate in January 2011 was estimated at 7.4 percent, while the employment rate was recorded at 92.6 percent, the National Statistics Office (NSO) reported saying that there were more unemployed males than females.

Almost half (48.9%) of the unemployed were in age group 15 to 24 years.

More than one third of the unemployed were high school graduates, and almost two-fifth (39.1%) reached college education.

The regions that posted high employment rates in January 2011 were Cagayan Valley and Zamboanga Peninsula, each registering a rate of 96.9 percent, SOCCSKSARGEN, 96.8 percent, Autonomous Region in Muslim Mindanao (ARMM), 96.1 percent, and MIMAROPA, 95.7 percent. The National Capital Region (NCR) had the lowest employment rate at 88.0 percent.

The January 2011 labor force survey placed the size of the labor force at 39.2 million out of the estimated 61.5 million population of 15 years old and over, resulting in the labor force participation rate (LFPR) of 63.7 percent.

Among the regions, MIMAROPA registered the highest labor force participation rate at 70.0 percent while the lowest was posted in ARMM at 55.7 percent.

Of the estimated 36.3 million employed persons in January 2011, the services sector was the largest group comprising more than half (52.5%) of the total employed population.

The largest employed workforce in the services sector were in wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods.

Workers in the agriculture sector accounted for 32.9 percent of the total employed, with those engaged in the agriculture, hunting and forestry sub-sector making up the largest sub-sector.

Only 14.5 percent of the total employed were in the industry sector, with the manufacturing sub-sector making up the largest percentage.

Among the various occupation groups, the laborers and unskilled workers comprised the largest group making up 31.7 percent of the total employed persons in January 2011

nuff said...
PNOY HAS TO WAKE UP!!! HIS HONEYMOON IS OVER NOW AND HE MUST FACE THE REAL AND NASTY WORLD! HE MUST STOP BLAMING OTHER PEOPLE FOR HIS UNDER PERFORMING GOVERNMENT, INEFFECTIVE LEADERSHIP AND HIS LACK OF FORESIGHT! HE CANT ENJOY THE TRUST AND CONFIDENCE OF THE PEOPLE FOR LONG IF THIS FIGURE KEEPS ON GROWING! IT WAS 7.2 A YEAR AGO NOW AS WE GET DEEPER INTO HIS ADMINISTRATION IT IS NOW INCREASING WAKE THE HELL UP MR PRESIDENT!! TRUST AND CONFIDENCE CANT PUT FOOD ON THE TABLE!!:bash::bash::bash::bash:

Panzer_18

March 16th, 2011, 02:50 PM

^^true he keeps on bashing the previous admins ... :ohno:

first knight

March 16th, 2011, 04:58 PM

Parchie

March 16th, 2011, 06:13 PM

What is the total labor force in 2009 and 2010?what is the labor force participation rate in 2009 and 2010?

Is the unemployment data for Jan.2011 talks about the seasonality of employment?the difference is .2 so is negligible but a source of concern in the light of a dynamic economy last year.

That is his prerogative and its alright to bash wrong policies made during previous administration.

And the president vowed to bring more jobs to take on the ever growing number of worker here in our country during his nation address! Clueless ba ang scriptwriter nya o siya mismo?

What you are trying to say are all given and happens every year. 0.2 is "negligible"? Ilang libong katao yan? 0.2% of 38.9M, negligible ba sa yo? 80,000 people na walang trabaho-- negligible ba! Di ba alam ng admin na ito yan? If not, please tell them that.

boypad

March 16th, 2011, 07:02 PM

Solid yet slower growth seen

BusinessWorld Online Edition
Posted on March 17, 2011 12:06:55 AM
http://www.bworldonline.com/content.php?title=Solid%20yet%20slower%20growth%20seen&id=28147

STANDARD & POOR’S (S&P) expects the Philippine economy to post solid but slower growth this year in line with an overall outlook for the Asia-Pacific region.

In a new publication released yesterday, the debt watcher forecast 5.1-5.6% growth for 2011, below the government’s 7-8% target and lower than last year’s 7.3% expansion.

"Growth will ... be slower in the Philippines, as a result of a slower exports pickup, the end of fiscal and election spending, and a high base," said Dharmakirti Joshi, chief economist at S&P-owned CRISIL Limited, in an e-mail to BusinessWorld.

"Despite the current unrest in Middle East and North Africa pushing up oil prices at the moment, we expect them to largely remain at the current level where they are manageable and should not affect the Philippines’ growth forecast," Mr. Joshi said, adding that the forecast does not take into account an impact from the disaster in Japan.

Gross domestic product (GDP) growth could pick up to 5.5-6.0% next year, S&P said.

Inflation, meanwhile, is expected to rise to 4.3-4.8% this year, easing to 4.0-4.5% in 2012, from last year’s 3.8%. S&P noted that the Bangko Sentral ng Pilipinas (BSP) had not raised policy rates last year as inflation was not "significant problem."

In noting that foreign inflows remained a "key dilemma" for the region, S&P pointed out that the BSP was among the central banks that had not sought to impose capital controls.

"[O]ne reason for this could be the high current account deficits that some of these countries run, which requires foreign funding. Another likely reason is that several economies in the region are net importers and face significant pressure from imported inflation," it said.

But core inflation in the Philippines and several other countries, S&P said, "remains benign". Central banks in the region, it also said, are ready to tighten monetary policy to address inflationary pressures.

In the "Asia-Pacific Markets Outlook 2011: Managing the Asian Growth Challenge" report, S&P said the region’s "economies are forecast to post solid growth in 2011, although we expect GDP growth rates in 12 of the 14 major economies to moderate..."

Only Australia and New Zealand are expected to grow at a faster pace, it said, while strongest GDP expansion could take place in China, India, Vietnam and Indonesia.

"Looking further out, we believe that 2012 promises stronger growth rates across most of the region," the report states.

S&P senior economist for Asia and the Pacific David Wyss, in a teleconference held yesterday to launch the report, said: "Risks for economic growth of countries in 2011 are ... turmoil in the Middle East and the disasters in Japan."

The market, however, "expects the crises not to spread much from we’ve already seen," he said.

3cr

March 17th, 2011, 12:17 AM

^^^^ Maybe it's better if let's just count our blessings kasi Good News pa rin naman ito kung tutuusin if we can still have 5% growth in these times of uncertainty. Considering the middle east crisis, Japan catastrophy and over all global economy just recovering from the recent financial crisis, buti nga there will still be a 5% growth eventhough lower than originally forecasted before the last 2 events erupted so to speak. If P-Noy/Pinas is able to come out of these on-going crises/turbulation ok, pasalamat tayo because I think that in itself should can be seen as an accomplishment. Let's give the current gov't a fair shake after all its not even a year yet they are at the helm. Let's see what/if they can deliver first and then judge them fairly/accordingly based on that performance. In the same manner we also need to do our part and it's in times like these that we need to work towards a common goal of uplifting the lives of our masses kanya huwag naman sana pairalin ang "crab mentality". After all in the end of the day we're all Filipinos sa iisang bansa.

NEDA: Job-creation need growing
By Cai U. Ordinario & Joesel V. Camano
Business Mirror
March 16, 2011
http://www.businessmirror.com.ph/home/top-news/8708-job-creation-need-growing

WITH the threat of the Middle East and North Africa crisis and the earthquake-tsunami disaster in Japan sending thousands of overseas Filipino workers (OFWs) home, the National Economic and Development Authority (Neda) underscored the need to increase job opportunities in the country this year.

In a statement, Neda Director General and Socioeconomic Planning Secretary Cayetano Paderanga Jr. said the national government is prepared to “exhaust all measures” just to ensure that there will be enough job opportunities for Filipino workers.

Paderanga issued the statement after the National Statistics Office (NSO) released the January Labor Force Survey (LFS),which showed that the country’s unemployment rate increased to 7.4 percent from 7.3 percent in January 2010.

“There is a need for the government to plan and prepare for the possible macroeconomic and social impacts of what is happening locally and overseas, especially on the labor sector,” Paderanga said.

To increase employment opportunities in the country, Paderanga said the government will speed up public infrastructure development and intensify measures to attract more domestic and foreign direct investments (FDI).

These measures, Paderanga said, include those that seek to improve governance, strengthen institutions and reduce the cost of doing business.

Based on National Statistical Coordination Board (NSCB) data, total FDI approved in the fourth quarter of 2010 by the four major investment promotion agencies reached P116.6 billion, up by 33.2 percent from its year-ago level of P87.5 billion.

This was the highest amount of fourth-quarter FDI pledges and the third highest quarterly FDI pledges since 1996 received by the Board of Investments, Clark Development Corp., Philippine Economic Zone Authority and Subic Bay Metropolitan Authority.

However, the NSCB noted that the FDI projects approved in the fourth quarter of 2010 are expected to generate only a total of 25,919 jobs. This spelled a decline of 68.2 percent, from 81,595 jobs projected in the same quarter last year.

“We will also further intensify current programs that address the labor-mismatch problems, in order to improve the quality of employment, and provide more decent employment opportunities. Through these, we will achieve a respectable high growth this year, together with its positive consequences on the labor sector,” Paderanga said.

Based on the NSO data, the country’s employment rate decreased to 92.6 percent in January 2011, from 92.7 percent in January 2010, and the underemployment rate also decreased to 19.4 percent this year, from 19.7 percent last year.

The number of jobless Filipinos increased to 2.919 million in January 2011, from 2.827 million in January 2010. The number of underemployed, on the other hand, decreased to 7.054 million this year from 7.107 million in 2011.

Paderanga noted that employment in the agriculture sector rebounded from a decline in January 2010, with a growth of 1.3 percent in January 2011, employing additional 152,000 workers. However, the number of unpaid family workers increased by 7 percent while the self-employed without any paid employee went up by 4.4 percent. Most of the unpaid family workers are engaged in agriculture.

The services sector still comprised more than half, or 52.5 percent, of the total employed population, employing additional 198,000 workers in January 2011 compared with the previous year. Meanwhile, employment in the industry sector contracted by 1.1 percent, due to net employment losses in manufacturing of 56,000 jobs; electricity, gas and water, 26,000 jobs; and mining and quarrying, 9,000 jobs.

The LFS also showed the unemployment rate remains relatively high in industrialized regions such as National Capital Region or Metro Manila at 12 percent; Calabarzon, 9.5 percent; and Region 7 or Central Visayas, 8.3 percent.

Unemployment also remained high in agricultural areas like Ilocos region at 10 percent; Central Luzon, 7.9 percent; and Caraga, 7.6 percent.

first knight

March 17th, 2011, 12:35 AM

And the president vowed to bring more jobs to take on the ever growing number of worker here in our country during his nation address! Clueless ba ang scriptwriter nya o siya mismo?

What you are trying to say are all given and happens every year. 0.2 is "negligible"? Ilang libong katao yan? 0.2% of 38.9M, negligible ba sa yo? 80,000 people na walang trabaho-- negligible ba! Di ba alam ng admin na ito yan? If not, please tell them that.

80,000 is still negligible compared to 38.9 million.Pretty obvious.

Please dont pretend you are better than the Pnoy government. Its the NSO that provided the info, so long before this issue was published in the newspaper and came to your knowledge, they already know.

3cr

March 17th, 2011, 12:36 AM

What's next: Philippines told to look into intellectual property
By Rizal Raoul Reyes / Correspondent
Business Mirror
http://www.businessmirror.com.ph/component/content/article/52-technology/8519-philippines-told-to-look-into-intellectual-property

After proving its mettle in outsourcing, the Philippines must now start developing intellectual property to earn more in exports and move up the value chain, an executive of a software-development company said.

In a recent interview with the BusinessMirror, Orange & Bronze Software Labs president and chief executive officer Calen Martin Legaspi said the Philippines should create technopreneurs to enable the country to generate more revenues and get a bigger share of the global information and communications technology (ICT) market.

“It’s time for the country to do a transition from outsourcing and joint venture to technopreneurship, eventually exporting intellectual property,” he said in an interview. “By developing technopreneurs in the Philippines, we can start sending intellectual property, instead of just outsourcing the products,” he added.

Legaspi said the Philippines must capitalize on the global boom of ICT, as there will be a higher demand for professionals, particularly in vertical industries through software and, as such, more software engineers and architects are needed.

According to research firm Gartner, global IT spending would reach $3.6 billion by the end of 2011. Moreover, the report noted that enterprise-software spending is expected to reach $253 million, much of which will be outsourced.

The Philippines, which has a strong software-development market, is expected to capitalize on the boom. According to data based on a study by the Philippine Software Industry Association (PSIA) in 2009, approximately 38,000 Filipinos were working in the IT industry. Based on these figures, the PSIA said an estimated 10,000 Filipinos are in the software-development field employed by at least 400 companies in the Philippines.

As far as Orange & Bronze is concerned, Legaspi said the company is also starting to develop intellectual-property capabilities by encouraging employees to think of projects’ technopreneurial ventures. With current technologies in software more affordable and accessible, it would be easier now for Filipinos to create business on software.

“Technologies such as Google apps and GIS are very accessible to Filipinos, so they can start on their technopreneurial ventures,” he said.

At the same time, Legaspi said software-development firms such as Orange & Bronze continue to hire software engineers to accommodate the growing outsourced ICT services segment. He also pointed out that enterprise software running on cloud-computing platforms are one of the most popular applications. Development of cloud computing is creating waves among companies, especially those that need to cut back initial investments in building their ICT investments, as well reduce management cost.

“In a cloud-computing environment, companies utilize the Internet for their needs. Everything from frontline services to back-office applications are operated through the Internet. They don’t need physical servers in their offices and they spend less,” he said.

He said Orange & Bronze is also beefing up its capability by hiring more software engineers and architects. He said their 90-strong manpower are Java developers, as well as other open-source platforms.

“Open source is a platform that is fast becoming a choice among software architects to run in a cloud-computing environment. This is due to the robust architecture of open source that allows developers to create a myriad of software suited for the needs of just every type of enterprise,” he said.

Orange & Bronze is a premier Java enterprise applications developer and the Philippine partner for Google Apps, a suite of Web-enabled business applications that leverage on a cloud-computing environment. Moreover, it is also a partner of Gray Matter Services, a distributor of open-source business-intelligence software Pentaho.

________________________________________

Microsoft powers the future of productivity through immersion experience
Manila Bulletin
Mar 16, 2011 2:06 PM PHT
http://ph.news.yahoo.com/microsoft-powers-future-productivity-immersion-experience-20110315-230611-688.html

MANILA, Philippines - In this day and age, technology increasingly plays a more vital role helping Filipino organizations to become more globally competitive.

Through best-of-breed solutions, they are able to adopt capabilities enabling them to drive increased efficiency and productivity while reducing costs at the same time. With this in mind, Microsoft is empowering local firms with a host of business productivity solutions through its recently launched Customer Immersion Experience (CIE) program.

Femee Cruz, Information Worker Product Manager, Microsoft Philippines, explains the importance of the CIE to its audience, ''Microsoft believes that businesses - whether big or small - need the right platform and tools to optimize productivity and attain maximum output from their workforce.

The program offers the opportunity for users to experience first-hand how Microsoft technologies can help them communicate, collaborate, create and manage information more efficiently within the organization.''

The CIE lets business decision-makers enter a hands-on environment that encourages discussion on how the Microsoft technologies can be used in organizations.

During the CIE, participants will be walked through a set of Microsoft solutions which focuses on various productivity capabilities that allow people to merge their emails and calendar better; work simultaneously on a single document; make better and faster decisions through self-service business intelligence; and be productive from anywhere using different devices.

The CIE is also an innovative way for customers to learn about Microsoft's business platform and productivity tools such as Windows 7, Microsoft Office, SharePoint, Exchange, Lync and Windows Mobile, and how they work together.

By having Windows 7 as the operating system, local companies can take advantage of a cleaner, more enhanced computing experience, with its new features and shortcuts that make tasks easier to accomplish.

It also offers an integrated user experience with Microsoft's productivity suite, Microsoft Office 2010, which allows users to stay on top of their work using familiar interfaces of Word, Excel and PowerPoint, enabling increased productivity across the PC, phone and browser. With Office Web Apps, users can save files online, as well as let them access, view and edit from virtually anywhere.

Microsoft Office 2010 works in direct connection with SharePoint, which delivers the business collaboration platform for the enterprise and Internet, enabling developers to rapidly respond to business needs with custom applications and solutions. For end-users, SharePoint helps the organization work better, faster and smarter by permitting them to set up Web sites to share information among workers, manage documents and easily publish and access reports online.

kalbongdad

March 17th, 2011, 01:58 AM

diz

March 17th, 2011, 02:12 AM

nuff said...
PNOY HAS TO WAKE UP!!! HIS HONEYMOON IS OVER NOW AND HE MUST FACE THE REAL AND NASTY WORLD! HE MUST STOP BLAMING OTHER PEOPLE FOR HIS UNDER PERFORMING GOVERNMENT, INEFFECTIVE LEADERSHIP AND HIS LACK OF FORESIGHT! HE CANT ENJOY THE TRUST AND CONFIDENCE OF THE PEOPLE FOR LONG IF THIS FIGURE KEEPS ON GROWING! IT WAS 7.2 A YEAR AGO NOW AS WE GET DEEPER INTO HIS ADMINISTRATION IT IS NOW INCREASING WAKE THE HELL UP MR PRESIDENT!! TRUST AND CONFIDENCE CANT PUT FOOD ON THE TABLE!!:bash::bash::bash::bash:

that's what people get for ignorantly voting for an underqualified procrastinator.

Parchie

March 17th, 2011, 02:13 AM

80,000 is still negligible compared to 38.9 million.Pretty obvious.

Please dont pretend you are better than the Pnoy government. Its the NSO that provided the info, so long before this issue was published in the newspaper and came to your knowledge, they already know.

For insensitive people, yes it is negligible! No wonder we don't progress because people entrusted to care for the country don't feel for some 80,000 workers with families to feed are inconsequential and don't need to be looked after! 80,000 could be 320,00 mouths without food to swallow! Perhaps one of those 80,000 could come to you and whip you 21 times like they do in Singapore! Maybe then, we will know if you have a thick skin!

kalbongdad

March 17th, 2011, 02:20 AM

mwg12a

March 17th, 2011, 02:22 AM

bitoy

March 17th, 2011, 02:27 AM

^^ Bayaan mo na yang mga kulutoy na mga yan... :lol:

crappypants

March 17th, 2011, 02:28 AM

damn, beat him up already. :lol:

first knight

March 17th, 2011, 03:39 AM

For insensitive people, yes it is negligible! No wonder we don't progress because people entrusted to care for the country don't feel for some 80,000 workers with families to feed are inconsequential and don't need to be looked after! 80,000 could be 320,00 mouths without food to swallow! Perhaps one of those 80,000 could come to you and whip you 21 times like they do in Singapore! Maybe then, we will know if you have a thick skin!

So you have to be melodramatic here to get some sympathies. Anyway, insensitive? far from it. Thats why actual steps are being done to give these people employment.

So your insensitive comment is way off mark. We are talking numbers here. You are not even sure if these unemployed are dependents of OFWs.

Take note, population increase, labor force increase, labor force participation rate increase every year.

Variables are different in Jan 2010 compared to 2011.

We dont even know if the unemployment rate for 2011 was caused by the seasonality of employment (end of contract, harvest season etc.).or there was an increased LFPR (most likely).

3cr

March 17th, 2011, 03:56 AM

More inbound investment missions coming
Manila Bulletin
Mar 16, 2011 11:56 PM PHT
http://ph.news.yahoo.com/more-inbound-investment-missions-coming-20110316-085648-208.html

MANILA, Philippines - The government will bring in various inbound missions from Indonesia, Singapore, India, Europe and Middle East countries, Trade and Industry secretary Gregory L. Domingo said.

Domingo said this following the successful state visits of President Aquino to Indonesia and Singapore and the recent trip of Board of Investments managing head Cristino L. Panlilio to the Qatar and Doha and Europe. Domingo himself headed an investment mission to India.

''We will bring them in so they can see for themselves the changes and have a firsthand view of the investment opportunities in the country,'' Domingo said.

According to Domingo, the challenge now is to carry inward investment missions from these countries.

By bringing the foreign businessmen into the country, they themselves would be able to answer the usual concerns of investors on stability of business and ease of doing business.

Domingo said that the recent state visits of President Aquino in Indonesia and Singapore was very successful where the President has one on one meetings with the decision makers.

''Our measure of success is the fact that we were able to convey to the decision makers, the biggest taipans in Indonesia to start looking into the Philippines again,'' he said.

In Indonesia, Aquino has one-on-meetings with the owners of Bakhri, Lippo, Salem and Pangetsu.

Domingo said the Salem Group does not need any convincing because it has huge investments in the country already, but the company is looking at other investments here whether in agriculture, petrochemicals and certain manufacturing to complement what they are at present.

In Singapore, the President has also met with a much bigger group and a smaller group of 15 businessmen, who are all captains of industries. Singaporean firms are interested in the Philippines PPP projects.

Both Singaporean and Indonesian firms are interested in tourism projects.

Domingo has made it a policy to prioritize inbound investment missions rather than outbound because that would be more effective. Outbound missions would be conducted only to very targeted markets and companies.

RonnieR

March 17th, 2011, 05:02 AM

^^ Good to hear that.

PLDT second-biggest dividend payer in SEA
By Lenie Lectura, Business Mirror
Posted at 03/17/2011 1:59 AM | Updated as of 03/17/2011 1:59 AM
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MANILA, Philippines - Telecom giant Philippine Long Distance Telephone Co. (PLDT) emerged as the second-largest dividend payer in Southeast Asia, third in total dividend yield, and the largest dividend payer from a dividend-per-share basis.

This was the result of a recent survey released by institutional investment magazine Alpha Southeast Asia in its March issue. No other Philippine company ranked among the top 10 in each of the 3 measures of the Alpha Southeast Asia survey. 

With total dividend payment for the years 2006 to 2010 amounting to $3,657 million, PLDT is second-highest in total dividends paid in the region, second to Singapore Telecom’s (SingTel) 5-year total payout of $8,761 million.

In terms of dividend yield, PLDT generated the third-best yield with an annual average of 6.9% over the 5-year period. Thailand’s AIS ranked the highest with an annual average dividend yield of 10.3%, followed by Malaysia’s Public Bank with an annual average of 7.1%.  The company surpassed Singapore’s SingTel and Indonesia ’s Telekom which posted an annual average dividend yield of 4.7% and 4%, respectively.

On a dividend-per-share basis, PLDT emerged the largest dividend payer with an annual average of $3.90 over the last 5 years, or 10 times higher than second  ranking DBS Bank (Singapore) and third ranking PTT Exploration and Production Pcl. (Thailand) at $0.39 each.

“For those who argue Singapore is rather an exception when it comes to fair shareholder treatment and quality investor relations, PLDT as a Philippine-based company has consistently demonstrated its management commitment to shareholder excellence,” the Alpha report said. “The Philippine-based company is a benchmark for companies not only in the country but across the Asia-Pacific region as well.” 

PLDT earlier announced a final dividend of P78 per share and, consistent with its year-end “look back” approach, declared a special dividend of P66 per share. Added to the interim dividend of P78 per share paid in September 2010, total dividends for the past year amounted to P222 per share, representing a payout of 100% of 2010 core earnings, similar to the payout ratio of the last 3 years.  Total dividend payments for 2010 will total P41.4 billion.

PLDT earlier disclosed that the next 2 years will see accelerated implementation of its technology roadmap to continue the modernization/upgrade of its wireless networks for further improved quality of service and adaptation to a more voice- and data-centric environment. Projects focusing on resiliency and protection and further investments in additional international cable systems will be pursued, it added.
http://www.abs-cbnnews.com/business/03/16/11/pldt-second-biggest-dividend-payer-sea

RonnieR

March 17th, 2011, 05:03 AM

GDP growth target for this year is 7% to 8%.

PPP projects expected to drive investments in construction
By Ana Mae G. Roa, BusinessWorld
Posted at 03/17/2011 1:24 AM | Updated as of 03/17/2011 1:25 AM
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MANILA, Philippines - Priority infrastructure projects under public-private partnership (PPP) deals will drive investments in the country’s construction industry, government and industry officials said yesterday.

Investments in the construction sector may reach a trillion pesos this year, as the Philippines proceeds to "develop its landscape" like Hong Kong, Singapore and Taipei, Cristino L. Panlilio, Bureau of Investments managing director, said in his speech during the opening of the Philippine World Building and Construction Exposition at the World Trade Center in Pasay City.

This amount, if achieved, will be equivalent to 10% of gross domestic product (GDP), Mr. Panlilio added.

Last year, investments in the construction industry totaled some P750 billion, or about 7% of GDP, Mr. Panlilio added in a phone interview.

Crucial to this outlook, Mr. Panlilio said, are the "public-private partnership efforts of the Aquino administration and all the ongoing building construction in the country."

The government announced two weeks ago five PPP projects targeted to be auctioned off this year, namely:
- the 5-year maintenance contracts for Metro Rail Transit Line 3 and Light Rail Transit Line 1
- Daang Hari-South Luzon Expressway link
- Ninoy Aquino International Airport expressway
- North Luzon-South Luzon expressway link.

Representatives of construction material firms shared Mr. Panlilio’s optimism.

Conglomerate Siam Cement Group (SCG) projects sales of building materials in the Philippines this year to reach $77.5 million, a 15% growth from last year, the president of SCG subsidiary Mariwasa-Siam Ceramics, Inc. said. SCG products include roof tiles, fiber cement board, thermal insulation and sanitary wares.

Mariwasa-Siam Ceremics President Surasak Kraiwitchaicharoen said in an interview that his company’s growth would be backed by the "growing construction sector and increased sales of ceramic tiles," which account for 85% of its total building materials sales.

For his part, Marble Association of the Philippines President Abraham L. Ng Sinco said this should be a good year because of aggressive marketing in export targets like the United States and South Korea.
"We have also developed more innovative designs such as mosaics," Mr. Ng Sinco said in a separate interview.
http://www.abs-cbnnews.com/business/03/16/11/ppp-projects-expected-drive-investments-construction

3cr

March 17th, 2011, 05:13 AM

^^ Wow that will be great if it happens! I'm happy just to get to the 5-6% growth range in this uncertain times and will definitely be ecstatic if we hit the Gov't targeted 7-8% growth range. Sana nga magkatotoo. Here's more on this subect...

DTI organizes Asia investment missions for PPP projects
By Ma. Elisa P. Osorio
The Philippine Star
03/16/2011
http://www.abs-cbnnews.com/business/03/15/11/dti-organizes-asia-investment-missions-ppp-projects

MANILA, Philippines - The Department of Trade and Industry (DTI) is organizing investment missions to India, Indonesia and Singapore as these countries expressed interest in participating in the country’s public private partnership (PPP) projects.

In an interview, Trade Secretary Gregory L. Domingo, who accompanied President Aquino during his visit in Singapore and Indonesia, said that they met with big business groups from both countries.

“The challenge now is to organize an investment mission from India, Indonesia and Singapore,” the secretary said. He included India because Domingo said they have just visited that country.

“We are trying to entice big groups in both countries (Indonesia and Singapore) to look into the Philippines and we were able to get the message across,” Domingo told reporters.

Domingo said that it is important to bring the potential investors to the Philippines in order to show the business leaders that the Philippines is an attractive business destination.

Domingo said that they highlighted that the investment environment here is stable and that it is now easier to do business here.

In Indonesia, Domingo said they met with Bakrie and Brothers and the Salim Group. Bakrie & Brothers is one of Indonesia’s foremost corporations with a scope of business interests that spans such profit centers as infrastructure, telecommunication, and plantations.

The Salim Group is Indonesia’s biggest conglomerate with assets including Indofood Sukses Makmur, the world’s largest instant noodle producer, and Bogasari, a large flour-milling operation. Domingo said that the Philippines needs to maintain their relationship with the Salim Group because they already have an existing interest here.

Domingo said that for Indonesia, the Philippines is looking at attracting investments in petrochemicals, agriculture and manufacturing industries that can complement current operations here because the costs in Indonesia is slightly lower. “There are also several groups who expressed their interest in tourism type of activities.

___________________________________

Aquino’s economic diplomacy
Lito U. Gagni / Market Files
Business Mirror
http://www.businessmirror.com.ph/home/opinion/8650-aquinos-economic-diplomacy

President Aquino has won the admiration and respect of hard-nosed businessmen from Singapore with the kind of economic diplomacy that he showed during his two-day state visit to that island-nation.

The assurances he made on issues over which Singapore businessmen had expressed anxiety have apparently been addressed, resulting in their pledges of participation in the administration’s PPPs, or the public-private partnership projects; five of these projects are to be bidded out by the end of this month. With an investment tag of $1 billion, that huge amount will redound to a big surge in the country’s economic growth without the crippling effects of government debts.

The President also appears to have succeeded in erasing the doubts about his administration’s resolve to tackle corruption, as well as procurement shenanigans. In a speech before the iconic Fullerton House, a former post office building converted into a hotel, the President stressed the Philippines’ desire to catch up with its neighbor and his demeanor all throughout cast aside any doubt on the country’s resolve. The walk up 24 flights of stairs when the elevator at the water-treatment plant stalled illustrated his determination to reach his goal, regardless of the obstacles. Why, even the flight via a budget carrier just so he is on schedule in his first stop, Indonesia, earned quiet raves from the staid businessmen accustomed to flying business class. The President could have booked a chartered flight but he chose to take the budget airline instead, sticking to his administration’s mantra of judicious spending.

That communicated very well the administration’s resolve not to resort to profligacy. It can be said that what Filipino diplomats have been trying to achieve in so many years, which is to woo investments, the President accomplished through actions that strongly echoed his words. The Singapore visit proved Mr. Aquino’s economic statesmanship; he has done us proud

The trip to Indonesia also showed Mr. Aquino’s grasp of the imminent oil crisis now playing out in the Middle East. His quiet push for an oil-supply agreement with Indonesian President Susilo Bambang Yudhoyono revealed the administration’s determination to address any oil-supply disruption and ensure the country’s economic future.

Unbeknown to many, the President had also issued an administrative order creating a committee that will map out a contingency plan on the Middle East crisis. Administrative Order 6 established the Interagency Contingency Committee to evaluate and enhance the contingency plan revolving on oil issues. The committee, to be chaired by Energy Secretary Rene Almendras, will formulate the country’s strategy on oil, particularly on addressing the disruptive effects of rising gasoline prices on the economy. The committee’s recommendations will be tackled during a meeting next Monday.

The flurry of news on the President’s economic and oil diplomacy and the quiet establishment of an oil contingency committee have apparently not been disseminated to the public, a communication slip-up. Clearly, the President’s achievements in Singapore and Indonesia should be given prominent play in the media and their impacts assessed for the public’s benefit. It’s just too bad that the President’s quiet work has apparently remained outside the public realm.

Narnian_King

March 17th, 2011, 06:28 AM

Paanong nangyari yon? Panahon pa lang ni Arroyo mataas na ang unemployment. Do you expect that number to lower down in 10 months or less of Aquino's position in office? I THINK NOT!! YOu are easy claim Arroyo's victory even under Aquino's administration but when something is negative, it's Aquino's fault?? Maig isip isip ka nga!!! I understand that the economy has caught it's momentum under Arroyo's administration but blame poverty, unemployment and such on Aquino is tad wrong. VERY WRONG. CRITISIZE AQUINO for taking credit on some of Arroyo's work but blaming the unemployment with Aquino is something I would not agree and accept. Lintek, panahon pa ni Arroyo, lalong dumami ang OFWs, dahil ito ang immediate solution niya sa pagpapataas ng economy ng Filipinas, KAY ARROYO BANG idea ito? HINDI! Kay Marcos..... Ang punahin mo ay kung paano kayo ninanakawan sa harap ng nguso ninyo ni Arroyo! Yan ang dapat mong ilagay sa kukote mo!!!

2 months na lang 1 year na :lol:

Do you expect that number to lower down in 10 months or less of Aquino's position in office?

Do you expect that number to lower down in 1 year or less of Aquino's position in office?

Do you expect that number to lower down in 2 years or less of Aquino's position in office?

............

Do you expect that number to lower down in 6 years or less of Aquino's position in office?

:lol::lol::lol:

3cr

March 17th, 2011, 08:26 AM

Philippine exporters see business during Japan rehab
By Max V. de Leon / Reporter
March 16, 2011
http://www.businessmirror.com.ph/home/nation/8702-philippine-exporters-see-business-in-japan-rehab

WHILE complaining of temporary disruption in the delivery of orders to some parts of Japan, Philippine exporters are seeing opportunities in the near future in the Japanese market when rehabilitation efforts in the earthquake-, tsunami- and now-nuclear crisis-stricken country kick off.

Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, told the BusinessMirror that both the services and merchandise exporters in the Philippines should get ready to support the expected increase in orders from Japan.

“There will surely be a shortage in the supply of food and manpower in Japan, so the opportunities are there,” Ortiz-Luis said.

He said the exporters’ group is now getting feedback from some of its members that orders are not getting delivered due to the logistics problem in Japan, particularly in the damaged areas in northeast, right now.

Mostly affected, he said, are agricultural products, since they are perishable and the buyers in Japan need to delay the orders until the transport and communications system are already in better condition. The condition of the storage facilities also needs to improve.

“But this is only temporary. When things normalize, we are seeing opportunities,” Ortiz-Luis said.

He said when the rehabilitation starts, Japan will probably have to hook up with Philippine companies that will support the reconstruction efforts. This would mean actual employment of Filipinos in Japan, since the Japanese may not be able to fill up the need for manpower themselves.

Also, there will be Japanese companies that will be prompted to outsource some of their operations elsewhere while in the process of rebuilding.

Japan used to have a 30-percent share in the Philippine merchandise exports, Ortiz-Luis said. Its share in Philippine exports has now fallen to about 8 percent to 10 percent.

Exports to Japan are mostly electronics and auto components, minerals and farm products.

Earlier, the Semiconductor and Electronics Industries of the Philippines Inc. said its member-companies are encountering problems in the supply chain because several inputs and components come from Japan-based plants.

This is also mainly due to the disruption in the transport system in the areas damaged by the major earthquake and tsunami that hit Japan last Friday.

______________________________________________

Remittances seen staying strong
Philippine Daily Inquirer
03/16/2011
http://business.inquirer.net/money/topstories/view/20110316-325824/Remittances-seen-staying-strong

MANILA, Philippines—HSBC expects remittances to the Philippines to remain strong despite the chaos in certain Middle Eastern countries. The bank said the tension in those countries would likely have minimal adverse impact on the remittances from Filipinos overseas.

In a research note on the Philippines, the investment bank noted that the Middle East accounts for “only” 15 percent of total remittances sent to the country. Any drop in the amount of money sent by Filipinos based in the Middle East may be offset by an increase in the amount sent by those based in other regions, it said.

HSBC cited the modestly improving economy of the United States and the robust growth posted by Asian economies.

“In light of the recent chaos in the Middle East, concerns about the Philippine remittances outlook are understandable.... However, economic developments in the West and in Asia still carry larger implications. Hence, we do not expect a slowdown in remittances from the Middle East to weigh too heavily on overall growth,” HSBC said in the paper written by its Asean economist, Sherman Chan.

Last year, remittances to the Philippines reached an all-time high of $18.8 billion, registering an 8.2-percent annual growth rate.

The spate of political protests in certain Middle Eastern countries have elicited concerns about a possible decline in remittances this year.

HSBC said it was even expecting remittances, in dollar terms, to grow further this year. It said overseas Filipino workers had a tendency to send more money to their families in times of peso appreciation to make sure the peso amount of their remittances remain the same.

3cr

March 17th, 2011, 09:17 AM

amigo32

March 17th, 2011, 09:20 AM

kung lahat may trabaho/income mas maganda kung mas marami.

Nabartek

March 17th, 2011, 09:26 AM

I don't know about this one... here's the other side of the population argument... i don't buy it...

Huge population will help Philippine economy
Sun Star
March 15, 2011
http://www.sunstar.com.ph/manila/local-news/2011/03/15/huge-population-will-help-philippine-economy-144876

A SIZEABLE Philippine population can be an economic asset especially if people have ample income and real consumption power, a lawmaker said.

This developed as the House plenary started debates on a reproductive health (RH) bill that intends to give universal access to birth control and maternal care.

LPG Marketers' Association (LPGMA) Representative Arnel Ty pointed out that a large population attracts direct investments that create jobs, which in turn generate family incomes that spur robust consumption.

"Strong consumption stimulates demand for industries, which in turn further drives employment growth, thus producing even more consumers," said Ty, a member of the House committee on trade and industry.

Ty cited the case of China with 1.3 billion people, saying global manufacturers are aggressively building new factories there because its large population offers a highly attractive consumer market.

As manufacturers expand their facilities in the world's fastest growing economy, they are also employing more people there, thus sustaining a positive economic cycle, he added.

"Our problem is not so much that we have a population of 95 million, but that a large number of Filipinos in the labor force remain idle. Without gainful employment, many of our people do not have real consumption power," Ty said.

The Philippines' unemployment and underemployment rates remain high at 7.1 percent and 19.6 percent respectively, based on the latest Labor Force Survey. The figures imply that 27 out of every 100 able-bodied Filipinos are either totally without jobs or desperately looking for extra work.

The legislator emphasized the need for the Aquino government to create new jobs at a much faster rate.

"One way to increase employment is through more vocational public high schools and technical institutes that offer two years of post-secondary education," he said.

Has he considered China's birthrate and population growth? It is 0.50%! And there are more older people there. One-Child policy?The Philippines' population growth rate is 2%! That is too much. Add to that, that in the "workforce" machines and computers are slowly replacing humans, esp in "labor jobs". We should aim for a birthrate that is not too high but not to low either.

Another one: the thing about vocational school is that it is not highly looked upon in the Philippine workforce. Seriously, even a job like a 'saleswoman' has to be at least college level or college graduate (as in 4-year course!). Those who take vocational course go abroad coz they are valued there, unlike in the Philippines they are looked down upon

Two culprits: high population growth rate and attitudes toward vocational education. Heck, even sales lady that can be done by a high school graduate is limited to college level. Add to that the "age limit" and "height limit". How can we have an active work force given these "constraints"(discrimination, actually)?

Parchie

March 17th, 2011, 10:08 AM

Has he considered China's birthrate and population growth? It is 0.50%! And there are more older people there. One-Child policy?The Philippines' population growth rate is 2%! That is too much. Add to that, that in the "workforce" machines and computers are slowly replacing humans, esp in "labor jobs". We should aim for a birthrate that is not too high but not to low either.

Another one: the thing about vocational school is that it is not highly looked upon in the Philippine workforce. Seriously, even a job like a 'saleswoman' has to be at least college level or college graduate (as in 4-year course!). Those who take vocational course go abroad coz they are valued there, unlike in the Philippines they are looked down upon

Two culprits: high population growth rate and attitudes toward vocational education. Heck, even sales lady that can be done by a high school graduate is limited to college level. Add to that the "age limit" and "height limit". How can we have an active work force given these "constraints"(discrimination, actually)?

Sumobrang konti 'dre, population growth = 1.903%.
The ideal rate should be that rate where the number of people born will equal to the number of people who will die (replacement only, zero growth) in a certain period under investigation. But we try to extend the life expectancy of our elders and limit our birth rates (zero pa rin ang growth rate), however, the result would be having more old, unproductive people with lesser working adults! Ano ba talaga kuya? So many parameters to monitor?

first knight

March 17th, 2011, 10:19 AM

manila_eye

March 17th, 2011, 10:24 AM

^^ very well said.

first knight

March 17th, 2011, 10:35 AM

In 50 years or 2061, imagine our total population if we add 50-60 million to our current total population now (95 million).

Where shall we put these people?

Where can we still plant and harvest food? By that time, resources are already scarce and climate change has already drastically altered our environment.

Most of the SSC members now are most likely alive by 2061.

Bricken Ridge

March 17th, 2011, 10:38 AM

I don't know about this one... here's the other side of the population argument... i don't buy it...

Huge population will help Philippine economy
Sun Star
March 15, 2011
http://www.sunstar.com.ph/manila/local-news/2011/03/15/huge-population-will-help-philippine-economy-144876

A SIZEABLE Philippine population can be an economic asset especially if people have ample income and real consumption power, a lawmaker said.

This developed as the House plenary started debates on a reproductive health (RH) bill that intends to give universal access to birth control and maternal care.

LPG Marketers' Association (LPGMA) Representative Arnel Ty pointed out that a large population attracts direct investments that create jobs, which in turn generate family incomes that spur robust consumption.

"Strong consumption stimulates demand for industries, which in turn further drives employment growth, thus producing even more consumers," said Ty, a member of the House committee on trade and industry.

Ty cited the case of China with 1.3 billion people, saying global manufacturers are aggressively building new factories there because its large population offers a highly attractive consumer market.

As manufacturers expand their facilities in the world's fastest growing economy, they are also employing more people there, thus sustaining a positive economic cycle, he added.

"Our problem is not so much that we have a population of 95 million, but that a large number of Filipinos in the labor force remain idle. Without gainful employment, many of our people do not have real consumption power," Ty said.

The Philippines' unemployment and underemployment rates remain high at 7.1 percent and 19.6 percent respectively, based on the latest Labor Force Survey. The figures imply that 27 out of every 100 able-bodied Filipinos are either totally without jobs or desperately looking for extra work.

The legislator emphasized the need for the Aquino government to create new jobs at a much faster rate.

"One way to increase employment is through more vocational public high schools and technical institutes that offer two years of post-secondary education," he said.

The clause says "if". But here's the reality check: we are not even close to the productivity level of developed economies. We may have a decent dollar purchasing power thanks to our relatives abroad, this does not translate to a country of citizens with ample individual incomes.:)

rain34

March 17th, 2011, 10:42 AM

kalbongdad

March 17th, 2011, 02:47 PM

kenken94

March 17th, 2011, 03:19 PM

BoI: Investment pledges jumped 185% to P28.2b

by Julito G. Rada
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/march/16/business2.isx&d=2011/march/16

The Board of Investments approved P28.24 billion worth of investment pledges in the first two months of the year, up 185 percent from P9.917 billion year-on-year.

BoI executive director Lucita Reyes said the agency approved 36 projects, 64 more from the 22 projects cleared a year ago.

“The first two months’ performance showed us we are on the right track of surpassing the BoI investment target this year of P258 billion,” she said.

Employment to be generated from the investment commitments, however, fell 16 percent to 4,225 from 5,007 on year because many of the projects were registered in the renewable energy sector that required automation and less workers.

The BoI earlier projected lower investment pledges of P258 billion this year, a 10-percent drop from last year’s P285 billion, because independent power producer administrators, which comprised half of the total commitments in 2010, would no longer be qualified for fiscal incentives.

Trade Undersecretary and BoI managing head Cristino Panlilio said the IPPAs comprised the bulk of investment commitments last year. Investment pledges in 2010 rose 5.6 percent to P301 billion.

“Investment approvals for independent power producer administrators alone in 2010 hit almost P150 billion. So we projected a lower target for this year,” Panlililo said.

But he said the expected surge in investments in infrastructure projects this year under the public-private partnership initiative could fill up the void left by IPPAs.

“We should get at least five PPP projects this year to compensate what would be lost,” Panlilio said. The BoI in September last year excluded applications of IPPA projects from the grant of incentives. Independent power producer administrators are companies with the right to sell the contracted output of power plants.

The BoI and the Philippine Economic Zone Authority contribute about 90 to 95 percent of the country’s overall investment pledges. The rest come from Clark Development Corp., Subic Bay Metropolitan Authority, Philippine Retirement Authority and other investment promotion agencies.

Panlilio expressed optimism that the business environment would be stronger this year with the implementation of the PPP projects.

chris_nigel

March 17th, 2011, 03:32 PM

^^ hahaha wala na talaga mangyayari unless mapalitan si PNoy ng mas competent

rain34

March 17th, 2011, 03:45 PM

kalbongdad

March 17th, 2011, 04:45 PM

kasasabi ko lang na pagandahin ang depensa sa kanilang idol....kaw nman target mo agad si little evil gloria......mabuti pa nga siguro dahil sabi nga sa wikileaks she is in control of the republic......nde kagaya ni wimpy kid.....pwede nyo ba i defend ang idol nyo na ang gamit lang ay ang kanyang katange-an...este katangian....? :lol:

boypad

March 17th, 2011, 07:42 PM

Wait a minute

BusinessMirror Philippines
Editorial
Thursday, 17 March 2011 20:47
http://www.businessmirror.com.ph/home/opinion/8758-wait-a-minute

THERE’S a catch, it turns out, in the government’s framework for financing its centerpiece Public-Private Partnerships (PPPs) program. As this paper’s exclusive story on Thursday indicated, the government has a lot of explaining to do in a “congenital” flaw in such a framework, i.e., that while it touts PPP as the solution to the chronic financing shortfalls for vital infrastructure, by tapping the resources of the private sector here and abroad, it, at the same time, exposes to needless risk the resources of government financial institutions (GFIs).

The arguments against seeding the P200-billion Philippine Infrastructure Development Fund (PIDF) with GFI funds were very well articulated by former Budget secretary Benjamin Diokno and former national treasurer Leonor Briones, who is a columnist of this paper.

According to PPP Center executive director Philamer C. Torio, involving the GFIs will allow the government to raise P200 billion to set up the PIDF, which, in turn, would be under the care of the National Development Co. The latter would then lend it to line agencies that would need additional funds.

Torio said the four financial institutions—Land Bank of the Philippines, Development Bank of the Philippines, the Social Security System (SSS) and the Government Service Insurance System (GSIS)—would have to shell out P50 billion each for the fund, which would largely finance Right-of-Way Acquisitions (Rowa).

The proposed P200 billion to be partly sourced from the GFIs is on top of the P300-billion Project Development Monitoring Fund—a revolving fund to be used by the PPP Center for technical requirements in packaging PPPs—and the P12.5 billion in the national budget for infrastructure-intensive agencies.

While this is not the first time that the GFIs would be involved in financing infrastructure projects—funds from the GFIs were used to finance infrastructure projects during the Marcos period—Torio assured the public that setting up the PIDF would not cause a significant reduction in GFI resources.

Why? Because debt payments to the GFIs will be allocated under the Government Appropriations Act—the national budget—of the succeeding year. This is said to be a better arrangement than getting the funds directly from the national budget. If the funds are taken out of the national budget, Torio said other non-PPP projects may not get funding or the PPP projects may not be able to move.

Diokno, however, points out that as a general rule, the Rowa should be provided under the national budget. This makes for a more transparent and accountable process, particularly in real-estate transactions.

“Right-of-way acquisition should be provided for in the budget. It should be transparent. Fiscal accountability is better defined. Doing deals outside the budget may be a way of window dressing the budget deficit. That’s bad,” Diokno said.

For her part, Briones, who’s been active in pushing a more democratic and accountable budget process, added that even if the national government would pay back the GFIs for the PIDF to ensure they are still profitable, this would be unfair, particularly for taxpayers who do not partake in the profits of the GFIs.

She added that if the GFIs obtain huge profits, because of their attitude of being more corporate than government, these profits only translate into huge bonuses for their employees.

We understand where the government is going with this: it wants to “sweeten the pot” for private business and ensure that all proposed PPP projects are successfully packaged, bidded out and completed. But, said Diokno and Briones, it signals the state’s “uncertainty” over its policies.

Briones also said this strikes at the core of what PPPs are all about, as the national government’s main reason in undertaking PPPs is its lack of resources to finance these projects by itself.

If the private sector wants to participate in PPPs, they should also bear some of the risks, since one of the main criteria that private business has set for involvement in PPP projects is the profitability of a certain project, according to Briones.

“In the first place, why are we having PPPs? It’s because we need the private sector to finance projects because they have more money than us. [What is happening is] anything that is risky, they want the government to assume. If that is the case, we might as well undertake these projects on our own,” Briones said in a telephone interview. 

Though both experts did not elaborate on it so much, the anxiety over this financing path lies also in past experience—in how the GFIs were run to the ground after being used for massive, crony projects in the past. Remember the audit report on how “publicly funded projects for private gain” traced the unraveling of certain GFIs back then?

True, some reforms may have been laid down along the way to avoid repeating the mistakes of the past. But we think this fundamental debate should be resolved before the government bids out the first five projects starting next month. Otherwise, we may be going down a road that touts profitability only for some and a burden for the many others.

Nabartek

March 17th, 2011, 08:02 PM

Sumobrang konti 'dre, population growth = 1.903%.
The ideal rate should be that rate where the number of people born will equal to the number of people who will die (replacement only, zero growth) in a certain period under investigation. But we try to extend the life expectancy of our elders and limit our birth rates (zero pa rin ang growth rate), however, the result would be having more old, unproductive people with lesser working adults! Ano ba talaga kuya? So many parameters to monitor?

Exactly what I am saying. That is why it is not practical for Ty to compare the "big population" of China and the Philippines given the population growth rate and demographics. In terms of percentage, China has less "youth", while in the Philippines, we have more youth. We really have to limit our birthrate. I wouldn't suggest zero but not as high as 1.9%-2%...especially if the ones multiplying most are the poorer people. It even comes to the point that we need to "export" human labor because of lack of jobs. We even "export" prostitutes to the US bases in Korea.

And birthrate is not the only factor. We have to look at our 'culture' for that matter to solve the unemployment rate. A high school graduate in the Philippines can hardly take even a part time job. A 4'11 Filipina would likely not take even a simple job. Someone over 35 is likely to not get a job, too. Heck, even our military has height and age requirements.

Ty also mentioned about "vocational". Well, how many companies in the country hire people with 2 year degree?

Another thing. Pictures! How sure are we that the HR department does not base on looks? In many jobs, women are even REQUIRE by their employer to wear make up. I am not kidding or exaggerating this.

In other words, our "hiring" culture contributes a significant reason as to why many of our kababayans can hardly take a job. It makes skills and talents only secondary than primary. It shouldn't be surprising. Look at our entertainment culture. Lots of good-looking but talentless actresses. :ohno:

Worried about "old unproductive workers"? They're nothing compared to a lot of young "unproductive" people. We have SSS and GSIS pensions (besides, it is in our culture to support our elderly) so if these "old unproductive people" would wisely invest in their "young productive years" they won't be a burden. At this state of the country, they're not even a burden while the "young unproductive youth"(which is the burden we are carrying) has nothing. Can't even find a job due to competition and lack of jobs as well as the company requirements don't match their age nor height (and other things).

By the way, the hiring culture contributes too to the "old unproductive people" as many companies do not hire people over 35 years old. I might as well add the culture of big corporations like SM to hire 6-month contract workers to work as sales assistant! They sure don't want labor union. Our lawmakers should make it illegal.

Askal82

March 17th, 2011, 08:03 PM

NOVO ECIJANO

March 17th, 2011, 10:01 PM

Ilang taon ba si evil gloria sa malacanang ikumpara mo sa kanya?

Sa sampung taong nakawan, sa tingin mo walang impact yan sa administrasyon natin ngayon lalo na at kaliwa't kanan ang mga sakuna na nangyayari sa buong mundo?

:lol:

Nagnakaw ba siya?sabi ni Pnoy pagkaupo niya sa puwesto,Inubos ni GMA ang budget ng Pilipinas eleksiyon,the next day
ay mali......sorry hindi po totoo.

si GMA daw ang nagpabomba sa Glorietta to silence the opposition dahil kahina-hinala at nangyari ito a day after a big rally led by Cory kahit na dalawang expert na galing sa US at Australia ang nagsabi na aksidente ang nangyari giit pa rin ng oposisyon planted ito.,finally sa Pnoy administration pangatlong imbestigasyon talaga palang aksidente.

Talaga bang nandaya si GMA sa eleksiyon?di man lang nagatubili sa desisyon ang supreme court pagkatapos ng 2 taon sa petisyon ni Loren Legarda against Noli de Castro na dinaya siya. wala namang nakitang anomalya sa eleksiyon ang supreme court kung ang pagbabasihan ay ang mga balota na
nasa kongreso na kinanbas ng oposisyon at administrasyon.parang vindicated na rin si GMA,hindi na kailangan pang ipawalang sala siya ng supreme court sabi ng mga election experts.

sabi ni GMA a month before she stepped down as president.hindi siya nandaya sa eleksiyon,at hindi rin siya nagpayaman sa posisyon.hindi niya dudungisan ang malinis na pangalan na ipinamana sa kanya ng kanyang ama

naniniwala ako sa sinsabi niya,kung talagang may kasalanan ilabas ang ibidensya at huwag namang trial by publicity.

Askal82

March 17th, 2011, 10:18 PM

Nagnakaw ba siya?sabi ni Pnoy pagkaupo niya sa puwesto,Inubos ni GMA ang budget ng Pilipinas eleksiyon,the next day
ay mali......sorry hindi po totoo.

si GMA daw ang nagpabomba sa Glorietta to silence the opposition dahil kahina-hinala at nangyari ito a day after a big rally led by Cory kahit na dalawang expert na galing sa US at Australia ang nagsabi na aksidente ang nangyari giit pa rin ng oposisyon planted ito.,finally sa Pnoy administration pangatlong imbestigasyon talaga palang aksidente.

Talaga bang nandaya si GMA sa eleksiyon?di man lang nagatubili sa desisyon ang supreme court pagkatapos ng 2 taon sa petisyon ni Loren Legarda against Noli de Castro na dinaya siya. wala namang nakitang anomalya sa eleksiyon ang supreme court kung ang pagbabasihan ay ang mga balota na
nasa kongreso na kinanbas ng oposisyon at administrasyon.parang vindicated na rin si GMA,hindi na kailangan pang ipawalang sala siya ng supreme court sabi ng mga election experts.

sabi ni GMA a month before she stepped down as president.hindi siya nandaya sa eleksiyon,at hindi rin siya nagpayaman sa posisyon.hindi niya dudungisan ang malinis na pangalan na ipinamana sa kanya ng kanyang ama

naniniwala ako sa sinsabi niya,kung talagang may kasalanan ilabas ang ibidensya at huwag namang trial by publicity.

Kahit hindi sya nagnakaw, sobrang bagal pa rin ng pag unlad noong mga nakaraang 10 taon.

Kahit hindi sya nagnakaw, yung pamilya at mga alipores nya naman sobrang nabusog ng husto. Bakit nagpatiwakal ang kaibigan nya sa AFP?

NOVO ECIJANO

March 17th, 2011, 10:29 PM

Kahit hindi sya nagnakaw, sobrang bagal pa rin ng pag unlad noong mga nakaraang 10 taon.

Kahit hindi sya nagnakaw, yung pamilya at mga alipores nya naman sobrang nabusog ng husto. Bakit nagpatiwakal ang kaibigan nya sa AFP? :lol:

Ganyan talaga, noong early 1990's to 2000 ang china at india nasa 5 to 6 percent lang gdp nila,itong early 2000 at hanggang ngayon lang nag accelerate ang economies nila.ganyan din ang pilipinas at sino mang bansa,nagsisimula muna sa maliit.

Askal82

March 17th, 2011, 10:32 PM

Ganyan talaga, noong early 1990's to 2000 ang china at india nasa 5 to 6 percent gdp nila itong early 2000 at hanggang ang nag accelerate ang economies nila.ganyan din ang pilipinas at sino mang bansa,nagsisimula muna sa maliit.

Besides, hindi mailalabas yan kung ang mga prosecutors palang natin nakipagsabwatan sa mga buwaya kahit na kahon kahon nakatambak ang mga ebidensya. :lol:

Malayo ang Pilipinas sa India at China pagdating sa pagpapaunlad ng kanilang ekonomiya.

NOVO ECIJANO

March 17th, 2011, 10:38 PM

Besides, hindi mailalabas yan kung ang mga prosecutors palang natin nakipagsabwatan sa mga buwaya kahit na kahon kahon nakatambak ang mga ebidensya. :lol:

Malayo ang Pilipinas sa India at China pagdating sa pagpapaunlad ng kanilang ekonomiya.

under pnoy,talagang minalas tayo lets admit that

3cr

March 17th, 2011, 11:19 PM

BPOs confident of redundant system vs. earthquake damage
Business Mirror
Dennis D. Estopace / Reporter
March 17, 2011
http://www.businessmirror.com.ph/home/companies/8739-bpos-confident-of-redundant-system-vs-earthquake-damage

BARRING any cataclysm, the crisis in Japan is expected not to affect the business process outsourcing (BPO) companies in the Philippines as most of them have redundant systems in place.

“It all depends on telecommunications companies, if their services are not interrupted,” Mike Perry, vice president for international operations, told the BusinessMirror when asked on the impact of the three disasters that have hit Japan last Friday.

Perry said there is not much effect on their business “unless all four locations—Hong Kong, London, Canada and the US—where we have a data center experience a crisis of that magnitude.”

The company provides cloud-based services for BPOs and call centers by removing the need of the latter to buy hardware and equipment.

InContact claims to be “the leading provider of on-demand contact center software and agent optimization tools.”

Likewise, executives of Brussels, Belgium-based Arinso International NV also said their backup servers—one of which is in Singapore—and data centers like in Adelaide, Australia, ensure continuous operations for clients, mostly companies outsourcing payroll and human resource management functions.

InContact formally inaugurated on Wednesday a 24-employee facility and data center in Makati City while Arinso executives announced the rollout of their software developed in the Philippines.

Executives of both companies said they remain optimistic of growth and regard the disaster in Japan as a temporary setback for the region.

Japan, the world’s third-largest economy, is grappling with a nuclear disaster after an earthquake and tsunami hit the country last week.

Interconnectivity has been a concern since undersea earthquakes have disrupted international communications in the past few years.

In 2006, an earthquake in Taiwan disrupted telecommunications operations as it damaged the Asia-Pacific Cable Network 2, a submarine telecommunications cable linking several countries in the Asia-Pacific region.

Disruptions that cause “downtimes” impact on revenue of BPOs that rely on information and communication technology for their businesses.

Perry said the company is talking to all telecommunications companies in the country to ensure connectivity.

“We can’t put all our eggs in one basket. Our agreement [with Bayan Telecommunications Inc.] is just one of the multiple partnerships we’re aiming to secure in the next months.”

Perry said redundancy is the key to smooth operations of BPOs like InContact.

--------------------------------------------------------------------------------

3cr

March 17th, 2011, 11:23 PM

Lots of resources for PPP projects – Neda
Business Mirror
Cai U. Ordinario / Reporter
March 17, 2011
http://www.businessmirror.com.ph/home/top-news/8770-lots-of-resources-for-ppp-projectsneda

Despite the warnings issued by economists against sourcing funds from government financial institutions (GFIs), the National Economic and Development Authority (Neda) said such sourcing, if for Public-Private Partnership (PPP) projects, can help develop the capital markets.

Neda Director General Cayetano W. Paderanga Jr. said while it is true the government lacked resources, there are a lot of resources available in the private sector as evidenced by the high savings rate in the Philippines of around 18 percent to 19 percent of gross domestic product (GDP).

Paderanga added that obtaining resources from GFIs for PPPs will allow domestic investors avoid currency risks and provide good investment opportunities to the public.

“In fact, one of the possible side effects is it would provide good investment opportunities for the public and then if it can be structured right, would even help in developing the capital markets,” said Paderanga. “[It can also help in] avoiding currency risk for domestic investors in PPP projects.”

He said the P200-billion Philippine Infrastructure Development Fund will be securitized by the purchasing agencies. This means that these will be offered as bonds to the secondary market. This will lessen the pressure on Philippine companies who are cash intensive.

Earlier, he said the National Development Co. can also issue debt papers to the domestic market for supplemental funds. These bonds will also be offered to insurance companies looking for long-term investments or GFIs who are managing pension funds like the Social Security System (SSS) and Government Service Insurance System (GSIS).

“These GFIs, I suppose, would not keep the bonds in their portfolio. They will also start reselling it in the secondary market,” he added.

Economists like former Budget secretary Benjamin Diokno and former national treasurer Leonor Magtolis-Briones have said involving GFIs, like the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP), gives the impression the government is not confident of its PPP policies.

“It gives the impression that the government is unsure of the policies governing the PPP arrangement. GFIs [like] LBP and DBP should stick to [their] mandate,” said Diokno.

Briones also said this strikes at the core of what PPPs are all about. She said the main reason of the national government in undertaking PPPs is because government does not have enough resources to finance these projects by itself.

She added that if the private sector wants to participate in PPPs, they should also bear some of the risks. Briones said that one example of this is the private sector’s decision to finance PPPs where the main criterion would be the profitability of a certain project.

Determining the profitability of projects will also cause PPPs to be more expensive since these projects will then be configured in a way that will also allow the private sector to profit.

“In the first place, why are we having PPPs? It’s because we need the private sector to finance projects because they have more money than us. What is happening is anything that is risky, they want the government to assume. If that is the case, we might as well undertake these projects on our own,” said Briones in a telephone interview.

3cr

March 18th, 2011, 12:04 AM

Philippine operations of Japanese firms continue
Sun Star
http://www.sunstar.com.ph/manila/local-news/2011/03/15/philippine-operations-japanese-firm-continue-government-144878

PHILIPPINE operations of Japanese companies have continued even after an earthquake north of Tokyo has shuttered factories, a Malacañang official said Monday.

"There's been no work stoppage of Japanese companies here. It's just in Japan where a lot of the factories have stopped production," Presidential Development and Strategic Planning Secretary Ricky Carandang said.

Companies such as Toyota Motor Corp., the world's largest automaker, and Sony Corp., a multimedia conglomerate, reportedly stopped production at plants after the magnitude-8.9 earthquake caused massive tsunamis that swept whole buildings away.

"I don't think you're talking about the biggest plants that these companies have - some of the biggest plants they have - so I don't think we have the capacity to take up all these lack," added Carandang.

Several Japanese firms were crippled by power outages and facilities damaged by the tsunamis.

The earthquake that hit Japan was said to be the "strongest" in at least a century. It left thousands of people killed while many others remain missing.

At the same time, Carandang also said that it's "too early to determine what kind of impact this will have to our economic relations with Japan."

He added that even Japan is still trying to assess the economic impact at this point. A samurai bond sale is scheduled for the second quarter, he said.

The Philippines also has extensive trade relations with Japan, recently outranked by China as the world's second largest economy.

3cr

March 18th, 2011, 12:12 AM

Remittances, ‘hot money’ up
Net portfolio investments hit $534M in February
By Michelle Remo
Philippine Daily Inquirer
03/17/2011
http://business.inquirer.net/money/topstories/view/20110317-326024/Remittances-hot-money-up

MANILA, Philippines—Remittances from Filipinos based in the United States and Europe, as well as foreign portfolio investments, grew at a rapid pace early in the year, raising hopes that foreign currency inflows into the country will remain strong in 2011 despite negative developments abroad.

The Bangko Sentral ng Pilipinas reported Thursday that the net inflow of foreign portfolio investments reached $534 million in February, rising by nearly three times from the $138.58 million recorded in the same month last year.

This brought the net inflow of “hot money” in the first two months to $754.5 million, up by 144 percent from the level recorded in the same period last year.

BSP officials said the significant increase in foreign portfolio investments as of February improved the country’s ability to meet external liabilities.

Foreign portfolio investments mostly come in the form of placements in the country’s stock market and bond purchases.

Officials said the growth in “hot money” inflows proved the improving confidence of foreign portfolio investors in the Philippine economy, at least for the short term.

Meanwhile, the BSP also reported that remittances from Filipinos based in the United States and Europe grew at a faster-than-anticipated pace in January.

Remittances are a closely watched economic indicator as these largely fuel consumption of Filipino households.

Data from the BSP showed that remittances from US-based Filipinos reached $526.16 million, up by 8.5 percent year on year.

The amount accounted for 35 percent of the total remittances of $1.48 billion for the month.

Meanwhile, remittances from Filipinos based in Europe reached $276 million in January, rising by 9.3 percent year on year.

Economic managers are optimistic that remittances will continue to rise this year despite the ill effects of the political turmoil in the Middle East and the twin disasters in Japan.

3cr

March 18th, 2011, 12:19 AM

Growth momentum expected to continue -- OECD report
Business World
http://www.bworldonline.com/content.php?title=Growth momentum expected to continue -- OECD report&id=28249

THE COUNTRY’S growth momentum is expected to remain generally strong, alongside four peers in the Association of Southeast Asian Nations (ASEAN), although authorities in the region are likely to be preoccupied in this first half with taming inflation pressures and strong capital flows, the latest quarterly analysis of the Organisation for Economic Co-operation and Development (OECD) said.

OECD’s Asian Business Cycle Indicators (ABCIs) track so-called "composite coincident" and "composite leading" indicators.

"Composite coincident indicators" are unique to each country in that they are selected by economic relevance and are measurable against quarterly gross domestic product (GDP).

For the Philippines, these are gross value added for industry and services, average capacity utilization, exports and manufacturing sales.

"Composite leading indicators", which are based on coincident indicators, are designed to enable analysts to have a snapshot of specific economies five to six months in advance. For the Philippines, these include the business volume index for the current quarter, the credit access index for the current quarter, consumer price index, Philippine Stock Exchange composite index, peso-to-dollar exchange rate, production index of basic metals and motor vehicle sales.

OECD’s ABCIs for this month show the Philippines’ composite coincident indicators easing to 102.5 points from 103.6 last December, which the publication described as still signaling an "expansion."

The country’s composite leading indicators, which were described as signaling a "downturn," slipped to 101.6 from 103.3 in the same periods concerned.

The other ASEAN countries fared as follows:

•Indonesia with coincident indicators showing an expansion and leading indicators showing a downturn;

•Malaysia, expansion for coincident and "possible moderate slowdown" for leading indicators;

•Singapore, a "recovery" for coincident and a "downturn" in leading indicators; and

•an expansion for both indicators for Thailand.
Two other countries covered by the analysis were:

•China, which had coincident indicators signaling expansion and leading indicators showing a "possible moderate downturn"; and

•India, whose coincident indicators showed a "downturn" and leading indicators a "slowdown".
"Overall, ASEAN economies are likely to maintain the growth momentum in the first quarter of 2011," the OECD report said.

"In particular, relatively positive developments in Indonesia, the Philippines and Thailand are associated not only with strong export demand, but also sound domestic demand and improved business sentiment."

Philippine GDP grew by 7.3% in 2010, its fastest growth in 35 years.

The same publication noted that "robust investment" has been driving the recovery of China’s economy, but that business activity in India "is showing some signs of slowing."

The report added that "growing confidence" among the five ASEAN members concerned as well as lingering uncertainties among OECD countries "has boosted capital inflows" into Southeast Asia.

It cited mounting inflation, particularly caused by upward pressures on oil and food prices, as another challenge facing the region’s monetary authorities.

"In sum, ASEAN economies in the first half of 2011 (and beyond) are facing the double policy challenges of tightening interest rate policy to quell inflationary pressures, while avoiding additional capital inflows and maintaining competitiveness.

In the Philippines, the central bank conceded last March 2 that heightened inflation expectations had "narrowed" its scope to maintain its key policy rates at 4% for overnight borrowing and 6% for overnight lending -- rates that have been kept since July 2009.

Two days later, the government announced that annual inflation rate accelerated to 4.3% last February from 3.6% the previous month.

kalbongdad

March 18th, 2011, 02:18 AM

Ilang taon ba si evil gloria sa malacanang ikumpara mo sa kanya?

Sa sampung taong nakawan, sa tingin mo walang impact yan sa administrasyon natin ngayon lalo na at kaliwa't kanan ang mga sakuna na nangyayari sa buong mundo?

:lol:

ay ang lola mo saan kayang mundo nakatira....out of touch sa realidad dito sa pinas.....yan ang pinagbubunganga ng idol mo.....kaya dyan sya sinisingil ang problema.....bunganga lang naman pala wala naman palang accomplishments....yung cct nya na ginaya kay little evil gloria....pinalpak pa....it was supposed to be a stop gap measure dahil sa crisis sa food sa panahon na yun....ang syunga mong idol kinopya sa panahon na wla nman food crisis...kaya ang nangyayari korapsyon din.....kaya ipinatitigil ngayon sa SC ang kahunghangan na ito......yung ppp naman ganun din...ang daming loop holes....na ngayon lang naglalabasan wala na ba talagan matinong magisip sa mga alipores ni pnoy.....tulungan mo nga baka sakaling may ideya ka ..... go now na...

mwg12a

March 18th, 2011, 03:09 AM

oi mga atseng i defend nyo naman ang idol ninyo ng mahusay pagandahin nyo naman ang logic ng inyong depensa......

mag accomplishment ni pnoy....

o galing ito sa gobyerno na data....malamang sinabotahe ito ni litte evil gloria :lol::lol:

unemployment.....tumaas pa lalo sa panahon ni pnoy....kala ko ba libo libo ang mga trabaho ang dala ng pagkain nya ng hotdog sa new york....

mas mataas na presyo ng bilihin.....kala ko ba bababa na ang mga bilihin dahil sa tuwid na daan wala ng korapsyon....:lol: ay hindi pala....kala lang pala natin yun......

kala natin si pnoy na ang sagot ng problema ng bansa.....ay mga atseng parte pala si pnoy sa problema ng bansa....

:ohno:

Ang problema ng filipinas ay tulad mo ang klase ng paguutak. Nakikita mo nang magnanakaw si Arroyo, panay pa rin ang puri mo. Kung pinababa niya ang unemployment at binawasan ang pagpapadala ng OFW sa ibang bansa hindi ganito ang aabutin ng filipinas. Wala namang ginhawa na nadama ang mga filipino nuong panahon niya!! HINDI BA NAUSO ANG PAGKAIN NG PAGPAG SA ADMINISTRATION NI ARROYO? HINDI BA SA PANAHON NI ARROYO MARAMING JOURNALIST NA PINAPATAY PAG SINASAMBULAT ANG MGA KABALBALAN NG MGA TAUHAN NI ARROYO? E lintek! Tatlong beses kong nakita dito si Arroyo sa America para ipagmakaawa na hire ulit ang mga filipino nurses DAHIL WALANG MAGPAGLAGYANG TRABAHO SA FILILIPINAS. Masama pa nito, ang Malaysia, nag warning na hindi na maghire ng mga filipinong DH AKA katulong yon nagpunta si Arroyo para magmakaawa ituloy ang hiring ng mga DH BAKIT?? WALANG MAIPAGLAGYAN ng trabaho sa filipinas ni Arroyo. Panay ang claim ng mataas ang GDP ng filipinas na wala naman saysay at NAGPATAAS lang ng credit rating PERO ANG PAGHIHIRAP ng filipino hindi nabawasan TAPOS ISISISI MO KAY AQUINO ANG PAGDAMI NG UNEMPLOYEMENT? Kung hindi ka gugong at kalahati, nakalimutan mo na ang crisis sa Middleast at mahinang economy sa buong nundo ang sanhi ng pagdagdag ng walang trabaho sa filipinas.. Si Aquino ba ang may kasalanan kung bakit nag welga ang mga taga Middleast? Si Aquino ba o ang filipinas ang may kasalanan kung bakit bumaba and economy ng America na nasanhi ng rippled effect sa buon mundo. Kasalanan ba ito ni Aquino? Ang galing mong magsalita na pagandahin ang logic ng mga tao dito PERO IKAW ang numero unong mahina ang logic...

Inuulit ko, hindi kasalanan ng filipinas or ni Aquino at kahit na si Arroyo na nagkaroon ng Global recession na sanhi ng slowdown ng hiring ng filipino at expansion ng mga BPO sa filipinas. Lalong lalo na hindi Kasalan ni Aquino o kahit si Arroyo ang nangyayari sa Middleast at catastrophy sa Japan na nagiging sanhi ng paghina ng economiya sa buong mundo. Ngayon, tutoo din naman talaga na sa panahon ni Arroyo, marami pa ring naghihirap sa filipinas.... Gamitin mo ang utak mo, tumatanda ka ng paurong!

first knight

March 18th, 2011, 03:30 AM

Ang problema ng filipinas ay tulad mo ang klase ng paguutak. Nakikita mo nang magnanakaw si Arroyo, panay pa rin ang puri mo. Kung pinababa niya ang unemployment at binawasan ang pagpapadala ng OFW sa ibang bansa hindi ganito ang aabutin ng filipinas. Wala namang ginhawa na nadama ang mga filipino nuong panahon niya!! HINDI BA NAUSO ANG PAGKAIN NG PAGPAG SA ADMINISTRATION NI ARROYO? HINDI BA SA PANAHON NI ARROYO MARAMING JOURNALIST NA PINAPATAY PAG SINASAMBULAT ANG MGA KABALBALAN NG MGA TAUHAN NI ARROYO? E lintek! Tatlong beses kong nakita dito si Arroyo sa America para ipagmakaawa na hire ulit ang mga filipino nurses DAHIL WALANG MAGPAGLAGYANG TRABAHO SA FILILIPINAS. Masama pa nito, ang Malaysia, nag warning na hindi na maghire ng mga filipinong DH AKA katulong yon nagpunta si Arroyo para magmakaawa ituloy ang hiring ng mga DH BAKIT?? WALANG MAIPAGLAGYAN ng trabaho sa filipinas ni Arroyo. Panay ang claim ng mataas ang GDP ng filipinas na wala naman saysay at NAGPATAAS lang ng credit rating PERO ANG PAGHIHIRAP ng filipino hindi nabawasan TAPOS ISISISI MO KAY AQUINO ANG PAGDAMI NG UNEMPLOYEMENT? Kung hindi ka gugong at kalahati, nakalimutan mo na ang crisis sa Middleast at mahinang economy sa buong nundo ang sanhi ng pagdagdag ng walang trabaho sa filipinas.. Si Aquino ba ang may kasalanan kung bakit nag welga ang mga taga Middleast? Si Aquino ba o ang filipinas ang may kasalanan kung bakit bumaba and economy ng America na nasanhi ng rippled effect sa buon mundo. Kasalanan ba ito ni Aquino?

Ang galing mong magsalita na pagandahin ang logic ng mga tao dito PERO IKAW ang numero unong mahina ang logic...

Inuulit ko, hindi kasalanan ng filipinas or ni Aquino at kahit na si Arroyo na nagkaroon ng Global recession na sanhi ng slowdown ng hiring ng filipino at expansion ng mga BPO sa filipinas. Lalong lalo na hindi Kasalan ni Aquino o kahit si Arroyo ang nangyayari sa Middleast at catastrophy sa Japan na nagiging sanhi ng paghina ng economiya sa buong mundo. Ngayon, tutoo din naman talaga na sa panahon ni Arroyo, marami pa ring naghihirap sa filipinas.... Gamitin mo ang utak mo, tumatanda ka ng paurong!

I concur. Well said.

Perhaps he needs to check the NSCB's data on poverty in 2003-2006 which showed increasing poverty in the midst of "Gloria's economic growth."

mwg12a

March 18th, 2011, 03:41 AM

I concur. Well said.

Perhaps he need to check the NSCB's data on poverty in 2003-2006 which showed increasing poverty in the midst of "Gloria's economic growth."

You know what? I won't even totally blame Arroyo for the continued low unemployment rate in the Philippines because it has something to do with the current global economic recession because, almost all the countries in the world has not recovered yet. Even UAE where all the experts are not expecting to get affected by it was affected, good thing that their fellow sheiks from one of its united emerate bailed them out. Because of all these along with the crisis all over the world has an effect in the Philippine economy specially now that OFWs are being repartriated back to the Philippines, That means more unemployment rate in the Philippines. Do we blame any Presidents of the Philippines on these? Certainly not! Unless the type of logic being followed is the kind of Kalbongdad logic are using imparting to all us here. I don't even know why he even got the nerve to post comments on here when his logic and comments have no substance what-so-ever!

first knight

March 18th, 2011, 03:54 AM

You know what? I won't even totally blame Arroyo for the continued low unemployment rate in the Philippines because it has something to do with the current global economic recession because, almost all the countries in the world has not recovered yet. Even UAE where all the experts are not expecting to get affected by it was affected, good thing that their fellow sheiks from one of its united emerate bailed them out. Because of all these along with the crisis all over the world has an effect in the Philippine economy specially now that OFWs are being repartriated back to the Philippines, That means more unemployment rate in the Philippines. Do we blame any Presidents of the Philippines on these? Certainly not! Unless the type of logic being followed is the kind of Kalbongdad logic are using imparting to all us here. I don't even know why he even got the nerve to post comments on here when his logic and comments have no substance what-so-ever!

Of course, we cant totally blame Gloria Arroyo.

But Gloria intensified the country's problems by destroying our agricultural and industrial sectors (massive and illogical liberalization, massive importation, unchecked massive smuggling, massive high cost of production i.e. cost of electricity, red tape and corruption, tongpats, lack of financial prudence instead widespread budget mismanagement)

He can ask business groups like PCCI, FPI and academicians.

RonnieR

March 18th, 2011, 06:01 AM

Ang problema ng filipinas ay tulad mo ang klase ng paguutak. Nakikita mo nang magnanakaw si Arroyo, panay pa rin ang puri mo. Kung pinababa niya ang unemployment at binawasan ang pagpapadala ng OFW sa ibang bansa hindi ganito ang aabutin ng filipinas. Wala namang ginhawa na nadama ang mga filipino nuong panahon niya!! HINDI BA NAUSO ANG PAGKAIN NG PAGPAG SA ADMINISTRATION NI ARROYO? HINDI BA SA PANAHON NI ARROYO MARAMING JOURNALIST NA PINAPATAY PAG SINASAMBULAT ANG MGA KABALBALAN NG MGA TAUHAN NI ARROYO? E lintek! Tatlong beses kong nakita dito si Arroyo sa America para ipagmakaawa na hire ulit ang mga filipino nurses DAHIL WALANG MAGPAGLAGYANG TRABAHO SA FILILIPINAS. Masama pa nito, ang Malaysia, nag warning na hindi na maghire ng mga filipinong DH AKA katulong yon nagpunta si Arroyo para magmakaawa ituloy ang hiring ng mga DH BAKIT?? WALANG MAIPAGLAGYAN ng trabaho sa filipinas ni Arroyo. Panay ang claim ng mataas ang GDP ng filipinas na wala naman saysay at NAGPATAAS lang ng credit rating PERO ANG PAGHIHIRAP ng filipino hindi nabawasan TAPOS ISISISI MO KAY AQUINO ANG PAGDAMI NG UNEMPLOYEMENT? Kung hindi ka gugong at kalahati, nakalimutan mo na ang crisis sa Middleast at mahinang economy sa buong nundo ang sanhi ng pagdagdag ng walang trabaho sa filipinas.. Si Aquino ba ang may kasalanan kung bakit nag welga ang mga taga Middleast? Si Aquino ba o ang filipinas ang may kasalanan kung bakit bumaba and economy ng America na nasanhi ng rippled effect sa buon mundo. Kasalanan ba ito ni Aquino? Ang galing mong magsalita na pagandahin ang logic ng mga tao dito PERO IKAW ang numero unong mahina ang logic...

Inuulit ko, hindi kasalanan ng filipinas or ni Aquino at kahit na si Arroyo na nagkaroon ng Global recession na sanhi ng slowdown ng hiring ng filipino at expansion ng mga BPO sa filipinas. Lalong lalo na hindi Kasalan ni Aquino o kahit si Arroyo ang nangyayari sa Middleast at catastrophy sa Japan na nagiging sanhi ng paghina ng economiya sa buong mundo. Ngayon, tutoo din naman talaga na sa panahon ni Arroyo, marami pa ring naghihirap sa filipinas.... Gamitin mo ang utak mo, tumatanda ka ng paurong!

Heavy.....I'm not used to it : hehehehe reading post like this from you.

Openeconomy

March 18th, 2011, 08:20 AM

is it true that the President Aquino issued an order to go ahead with open skies in the Philippines? Im for it.

crappypants

March 18th, 2011, 08:23 AM

don't worry he'll probably change his mind in a few days .

Openeconomy

March 18th, 2011, 08:37 AM

don't worry he'll probably change his mind in a few days .

what do you mean, he changes his minda lot? can you give me an example since i dont live there. i fly philippine airline since their business class is cheaper that most except delta but delta has a bigger and longer business class seat pero delta dont go to cebu, so if delta goes to cebu mag dedelta ako, it is also the fastest way from where i am now which is midwest.

amigo32

March 18th, 2011, 08:39 AM

:rofl:

crappy mag paliwanag ka:D

crappypants

March 18th, 2011, 08:42 AM

what do you mean, he changes his minda lot? can you give me an example since i dont live there. i fly philippine airline since their business class is cheaper that most except delta but delta has a bigger and longer business class seat pero delta dont go to cebu, so if delta goes to cebu mag dedelta ako, it is also the fastest way from where i am now which is midwest.

it depends whether you catch him during the day or at night time.

Openeconomy

March 18th, 2011, 08:45 AM

it depends whether you catch him during the day or at night time.

im sorry i really dont get it, this must be a local sarcastic joke, but is their a situation as important as an economic policy as open skies that he flip floped?

3cr

March 18th, 2011, 08:54 AM

is it true that the President Aquino issued an order to go ahead with open skies in the Philippines? Im for it.

^^ Here you go. Hope this helps.

Aquino allows foreign airlines to serve local routes
By Jill Beltran and Virgil B. Lopez
http://www.sunstar.com.ph/manila/local-news/2011/03/18/aquino-allows-foreign-airlines-serve-local-routes-145501

PRESIDENT Benigno Aquino III on Thursday issued two executive orders that will implement open skies in the Philippines, eventually allowing foreign airlines to serve selected local routes.

Executive Order (EO) 28 creates the Philippine Air Negotiating Panel (PANP) and the Philippine Air Consultation Panel (PACP), while EO 29 authorizes the Civil Aeronautics Board (CAB) and the two panels to explore discussions with foreign carriers regarding the aviation liberalization policy commonly known as "open skies."

The PANP will be chaired by Foreign Affairs Secretary Albert del Rosario, while secretaries of Trade and Industry, Transportation, Labor, and the executive director of the Civil Aeronautics Board will serve as members.

Meanwhile, the PACP will be chaired by Transportation Secretary Jose de Jesus. Its members will be composed of the secretaries of Trade, Tourism, Foreign Affairs and Labor.

Under EO 29, third, fourth, and fifth freedom rights may be also granted to foreign airlines, permitting them to carry passengers and cargo from the Philippines to another country, transport the same from another country to the Philippines, and fly travelers and ship goods from the Philippines to another country and a third country.

However, the same EO prohibits CAB from granting any foreign air carriers cabotage traffic rights of any kind, such as the right to transport passengers and goods between two or more points within the Philippines.

Granting third, fourth, and fifth freedom rights, unrestricted capacities, and frequencies to foreign airlines will enhance Philippine carriers' competitiveness, Executive Secretary Paquito Ochoa Jr. said in a statement.

By encouraging local carriers to improve its services, the Philippines may soon upgrade its Category 2 status as set by the US Federal Aviation Administration and the European Union.

A Category 2 status means that the Philippines is not allowed by the United States and the European Union to increase its flights to these countries.

EO 29 also provides guidelines to the two Philippine air panels in the negotiation of Air Services Agreements (ASAs).

The same order also mandates the PACP and the PANP, to be collectively known as the Philippine Air Panels, to promote domestic tourism by providing travelers more and varied choices of access to the Philippines through improved and increased aviation services.

The order also intends to promote investment, trade, and employment generation in the Philippines through aviation, spur competition in the local aviation industry by enticing the entry of more players, and enhance competitiveness of local domestic carriers.

EO 29 also allows the PANP to offer and promote third, fourth, and fifth freedom rights to the country's airports other than the Ninoy Aquino International Airport (NAIA) without restriction as to frequency, capacity, and type of aircraft, and other arrangements that will serve the national interest as may be determined by the CAB.

Under EO 29, the CAB may also grant foreign air carriers increases in flight frequencies and/or capacities in the country's airports other than NAIA, subject to conditions required by existing laws, rules and regulations, and approval of the President, notwithstanding the provisions of the relevant ASAs.

"By empowering the CAB to allow foreign airlines to fly directly to airports other than the NAIA, the government hopes to encourage these airlines to fly to other destinations in the country and make it easier for foreign guests to visit the archipelago's top tourist attractions," Ochoa said.

Opening Philippine skies to foreign airlines is a way for the administration to boost the country's tourism and investments, Executive Secretary Paquito Ochoa Jr. said in a statement.

"These executive orders reaffirm the President's commitment to pursue policies that will promote tourism and spur investment in the country," Ochoa said. "Our goal is also to provide a competitive environment for the airline industry by allowing foreign airlines to come in. More airlines mean more choices for flyers, and, consequently, lower fares and better services to entice the flying public."

Local airlines mum on open skies

Officials of the country's major airlines on Thursday declined to give thorough comments over President Benigno Aquino III's order liberalizing Philippine aviation.

"We just learned about it and would need to study it (Executive Order 29) before issuing any comment. Offhand, I understand it's about the creation of the Philippine air negotiating panel that would aggressively negotiate new air agreements," Joey de Guzman, Philippine Airlines' (PAL) vice president for corporate communications told Sun.Star.

PAL also operates Airphil Express, the low-cost arm of the Lucio Tan-led company.

Budget airline Cebu Pacific also opted to reserve its comments since it has yet to see a copy of the Palace directive.

"However, we have always been open to open skies for as long as it is fair and reciprocal," Cebu Pacific vice president for marketing and distribution Candice Iyog said in a separate interview.

Clarifying her point, Iyog said Philippine carriers should get the same number of seat entitlements the government will give to foreign players.

In a previous statement, PAL senior assistant vice president for external affairs Maria Socorro Gonzaga said there are 47.4 million seats available to foreign and local carriers but only 23 percent or 10.97 million seats are filled up due to problems that affect the country's tourism industry.

"It's not the number of airline seats that is behind the lack of tourist interest in the Philippines but the country's negative image abroad, especially in the area of peace and order and security," she said.

At present, seat entitlements to Clark International Airport in Pampanga is about 25.6 million; to Cebu, 20.7 million; to Davao, 20.3 million; and to Kalibo, Bohol, Palawan, and Laoag, 19.6 million. In Manila, there are 21.2 million seat entitlements available yearly.

The sum is more than 47.4 million seats because many of the entitlements may be used for different airports, hence the overlap.

Businessmen earlier sought clarification on the government's plan to implement a "pocket open skies policy" to help boost the tourism industry, which remains to be a laggard even among Southeast Asian nations.

Malaysia topped the 10-nation grouping with 24.6 million tourists in 2010, up 3.9 percent from the previous year.

Foreign arrivals to the Philippines, meanwhile, hit an all-time high of 3.52 million last year, which topped the government target of 3.3 million.

The country's performance is slightly better than landlocked Cambodia, which attracted 2.5 million visitors in 2010. Vietnam, for its part, welcomed over 3.8 million foreigners last year, down 11.5 percent in 2009.

Opponents of the "pocket-open skies" had said the administration's plan will only result to more trash.

According to EcoWaste Coalition, the planned six million tourist arrivals annually would translate to additional 21 million kilos of waste requiring 7,000 truck-trips to dumpsites. This is based on the assumption that each foreign visitor would stay an average of one week.

__________________________________________

Business in general seems to like P-Noy's running of the country so far naman ah. Why so much hate for him from some posters in this thread? Is it because they are GMA supporters that they can't accept him as Prez? Curious lang naman...

Philippines’ Property Market Booming
CB Richard Ellis
http://www.cbre.com.ph/news-center.aspx?Id=33

Philippines is experiencing the best days since its 1990’s Ramos era in the property sector; the country is driven by a strong demand and investments as it becomes one of the top favorites in the region, alongside Vietnam and Indonesia, according to property management group CB Richard Ellis Philippines.

Rick M. Santos, chairman and founder of CBRE Philippines, has announced that take up of office spaces this year is at 250,000 square meters and is forecast to rise by 10 percent in 2011 with Fort Bonifacio and Ortigas being the preferred choices for office spaces.

“Due to strong demand, developers continue to churn out new office, retail, hotel and residential projects. The Philippines is benefiting from the Aquino administration’s good infrastructure, good governance leadership stance,” Santos said.

The banks are also lending and the real estate firms are showing high earnings and growth.

Santos believes that the market is back due to very good economic fundamentals since 1996. He said that the most dominant areas for office spaces are no longer limited to Makati, but Global City, Ortigas, Eastwood, Cebu Business Park, Clark and other cities in the regions that are hosting BPO operations. While other areas like Global City, Ortigas and Alabang are launching a lot of new buildings next year, there is only one major building coming up in Makati in 2011, the LEED-certified Zuellig Building along Paseo de Roxas.

Currently there is an estimated 6.7 million square meters of existing office supply in Metro Manila and 397,000 square meters.
Makati rental rates are P850 per square meter, yet due to decreased rentals in 2008, there could be an upward pressure for rental rates in Makati.

pulsephaze22

March 18th, 2011, 08:57 AM

Ang problema ng filipinas ay tulad mo ang klase ng paguutak. Nakikita mo nang magnanakaw si Arroyo, panay pa rin ang puri mo. Kung pinababa niya ang unemployment at binawasan ang pagpapadala ng OFW sa ibang bansa hindi ganito ang aabutin ng filipinas. Wala namang ginhawa na nadama ang mga filipino nuong panahon niya!! HINDI BA NAUSO ANG PAGKAIN NG PAGPAG SA ADMINISTRATION NI ARROYO? HINDI BA SA PANAHON NI ARROYO MARAMING JOURNALIST NA PINAPATAY PAG SINASAMBULAT ANG MGA KABALBALAN NG MGA TAUHAN NI ARROYO? E lintek! Tatlong beses kong nakita dito si Arroyo sa America para ipagmakaawa na hire ulit ang mga filipino nurses DAHIL WALANG MAGPAGLAGYANG TRABAHO SA FILILIPINAS. Masama pa nito, ang Malaysia, nag warning na hindi na maghire ng mga filipinong DH AKA katulong yon nagpunta si Arroyo para magmakaawa ituloy ang hiring ng mga DH BAKIT?? WALANG MAIPAGLAGYAN ng trabaho sa filipinas ni Arroyo. Panay ang claim ng mataas ang GDP ng filipinas na wala naman saysay at NAGPATAAS lang ng credit rating PERO ANG PAGHIHIRAP ng filipino hindi nabawasan TAPOS ISISISI MO KAY AQUINO ANG PAGDAMI NG UNEMPLOYEMENT? Kung hindi ka gugong at kalahati, nakalimutan mo na ang crisis sa Middleast at mahinang economy sa buong nundo ang sanhi ng pagdagdag ng walang trabaho sa filipinas.. Si Aquino ba ang may kasalanan kung bakit nag welga ang mga taga Middleast? Si Aquino ba o ang filipinas ang may kasalanan kung bakit bumaba and economy ng America na nasanhi ng rippled effect sa buon mundo. Kasalanan ba ito ni Aquino? Ang galing mong magsalita na pagandahin ang logic ng mga tao dito PERO IKAW ang numero unong mahina ang logic...

Inuulit ko, hindi kasalanan ng filipinas or ni Aquino at kahit na si Arroyo na nagkaroon ng Global recession na sanhi ng slowdown ng hiring ng filipino at expansion ng mga BPO sa filipinas. Lalong lalo na hindi Kasalan ni Aquino o kahit si Arroyo ang nangyayari sa Middleast at catastrophy sa Japan na nagiging sanhi ng paghina ng economiya sa buong mundo. Ngayon, tutoo din naman talaga na sa panahon ni Arroyo, marami pa ring naghihirap sa filipinas.... Gamitin mo ang utak mo, tumatanda ka ng paurong!

Ilang beses ko na rin nasabi sa kanya yan. Pero di ganto ko emotional,. hehe,. goodluck na lang kung pakikinggan nya to :)

rain34

March 18th, 2011, 01:40 PM

Ang problema ng filipinas ay tulad mo ang klase ng paguutak. Nakikita mo nang magnanakaw si Arroyo, panay pa rin ang puri mo. Kung pinababa niya ang unemployment at binawasan ang pagpapadala ng OFW sa ibang bansa hindi ganito ang aabutin ng filipinas. Wala namang ginhawa na nadama ang mga filipino nuong panahon niya!! HINDI BA NAUSO ANG PAGKAIN NG PAGPAG SA ADMINISTRATION NI ARROYO? HINDI BA SA PANAHON NI ARROYO MARAMING JOURNALIST NA PINAPATAY PAG SINASAMBULAT ANG MGA KABALBALAN NG MGA TAUHAN NI ARROYO? E lintek! Tatlong beses kong nakita dito si Arroyo sa America para ipagmakaawa na hire ulit ang mga filipino nurses DAHIL WALANG MAGPAGLAGYANG TRABAHO SA FILILIPINAS. Masama pa nito, ang Malaysia, nag warning na hindi na maghire ng mga filipinong DH AKA katulong yon nagpunta si Arroyo para magmakaawa ituloy ang hiring ng mga DH BAKIT?? WALANG MAIPAGLAGYAN ng trabaho sa filipinas ni Arroyo. Panay ang claim ng mataas ang GDP ng filipinas na wala naman saysay at NAGPATAAS lang ng credit rating PERO ANG PAGHIHIRAP ng filipino hindi nabawasan TAPOS ISISISI MO KAY AQUINO ANG PAGDAMI NG UNEMPLOYEMENT? Kung hindi ka gugong at kalahati, nakalimutan mo na ang crisis sa Middleast at mahinang economy sa buong nundo ang sanhi ng pagdagdag ng walang trabaho sa filipinas.. Si Aquino ba ang may kasalanan kung bakit nag welga ang mga taga Middleast? Si Aquino ba o ang filipinas ang may kasalanan kung bakit bumaba and economy ng America na nasanhi ng rippled effect sa buon mundo. Kasalanan ba ito ni Aquino? Ang galing mong magsalita na pagandahin ang logic ng mga tao dito PERO IKAW ang numero unong mahina ang logic...

Inuulit ko, hindi kasalanan ng filipinas or ni Aquino at kahit na si Arroyo na nagkaroon ng Global recession na sanhi ng slowdown ng hiring ng filipino at expansion ng mga BPO sa filipinas. Lalong lalo na hindi Kasalan ni Aquino o kahit si Arroyo ang nangyayari sa Middleast at catastrophy sa Japan na nagiging sanhi ng paghina ng economiya sa buong mundo. Ngayon, tutoo din naman talaga na sa panahon ni Arroyo, marami pa ring naghihirap sa filipinas.... Gamitin mo ang utak mo, tumatanda ka ng paurong!

hahaha anung magagawa natin kapag hanggang doon na lang ang pag-unawa nya, lahat kze daw hindi nagawa ni Pnoy kaya mataas ang unemployment rate...ok :nuts:

rain34

March 18th, 2011, 02:01 PM

http://multiply.com/mu/raymund3434/image/1/photos/6/500x500/1/gloria.jpg?et=xDXd%2COZcsGgc2XG2HQ35Jg&nmid=425908888

randam na randam ang pag-unlad...feel ko nga ka-level na natin ang US at China eh

amigo32

March 18th, 2011, 02:17 PM

oo nga eh, ito kasi si Noy pahirap, ang malas ng kalbo nya, lahat na lang ng kamalasan andito na:D

kalbongdad

March 18th, 2011, 03:24 PM

oo nga eh, ito kasi si Noy pahirap, ang malas ng kalbo nya, lahat na lang ng kamalasan andito na:D

remind ko lang.....haha naiinsulto ako.....si pnoy ay hindi kalbo...isa syan panot....:lol::lol::lol: ....ako ang kalbo.....as in kalbongdad...:lol:

kaya paki reword ng ....malas ang panot nya.....:lol:

boypad

March 18th, 2011, 03:25 PM

Filipinos in Japan ‘not balikbayan boxes’

By Jerry E. Esplanada
Philippine Daily Inquirer
First Posted 02:27:00 03/18/2011
http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20110318-326098/Filipinos-in-Japan-not-balikbayan-boxes

MANILA, Philippines—Saying Filipinos who want to leave Japan are “not balikbayan boxes,” militant groups Thursday assailed President Benigno Aquino III’s plan to use its one and only C-130 plane to fly them home.

Renato Reyes Jr., secretary general of Bagong Alyansang Makabayan (Bayan) said, “surely, the Aquino administration can do better.”

“It can get chartered flights from Philippine Airlines and Cebu Pacific to help Filipinos in Fukushima evacuate. Isn’t a C-130 a cargo plane? Are they planning to fly Filipinos out of Japan like balikbayan boxes?” Reyes told the Inquirer.

“The Palace statement that Filipinos who have no means can just ride the C-130 of the Air Force is definitely not enough.”

He said the government “should exert its best efforts and should have a concrete plan.”

“It should also allocate emergency funds for the repatriation of Filipinos from Japan. The funds should also include provisions for food and relief goods since they are also in short supply for Filipinos there,” he asserted.

Millions for DFA travel

John Leonard Monterona, regional coordinator of the Riyadh-based Migrante-Middle East, wondered if the government was bankrupt.

Migrante and its affiliate organizations worldwide have expressed outrage over the claim of the Department of Foreign Affairs (DFA) that it has no funds for the repatriation of Filipinos fleeing Japan.

The DFA has apparently forgotten that Filipinos in Japan, who number 305,000, send over $880 million a year in remittances to the Philippines, Monterona said.

Embassy team blasted

A group of Filipinos students in Sendai, one of the areas hardest-hit by the March 11 quake and tsunami, expressed “deep rage and great disappointment” over the slow and inefficient team sent to the area by the Philippine Embassy in Tokyo.

“The first team from our embassy arrived here on the night of March 13, the time when other foreign nationals were starting to evacuate from Sendai,” the group said in an e-mail.

“The team came to Sendai without a concrete contingency plan.”

Clearly, members of the team were “not only unprepared, they also lacked the necessary skills” to handle an evacuation program, the students said.

“We demand a sense of urgency from our government. We demand that the government exhaust all means to surpass the incompetent actions of the Philippine contingent here in Japan. Act now!” they said.

Oust Lopez call

Nestor Puno, Migrante-Japan spokesperson, called for the immediate recall and replacement of Philippine Ambassador to Tokyo Manuel Lopez.

Lopez has angered Filipinos in Japan for proposing the evacuation of embassy personnel and their dependents, Puno said.

Lopez has denied he requested evacuation for his staff.

kalbongdad

March 18th, 2011, 03:30 PM

another kapapalpakan brought to you.....by pnoy and friends.....:bash: ibang klase pati pala gobyerno ngayon napasok na ng mga lopezes......wow todo bayad utang talaga si pnoy....ano kaya ang qualification nitong lopez na ito at nalagay sa isang prime posting.....?.....yang ang napapala natin sa mga kapalpakan ng admin ni pnoy.....di ba ?

amigo32

March 18th, 2011, 03:40 PM

kalbongdad

March 18th, 2011, 03:44 PM

rain34

March 18th, 2011, 03:55 PM

Mga great accomplishment ni GMA the most venerable leader ever! (vote ko sya as Saint promise!)

1. NBN ZTE Scandal
2. Millions of bribe money to Congressmen and Governors (October 2007)
3. Cheating in 2004 Elections (Hello Garci)
4. Joc Joc Bolante Case (Fertilizer Scam, P728 Million)
5. Jose Pidal Bank Account (Unexplained Wealth, P200 Million)
6. Nani Perez Power Plant Deal ($2 Million)
7. Use of Road User's Tax for Campaigning
8. Billion Peso Macapagal Boulevard (Overprice of P532 Million)
9. Juetengate (Illegal Numbers game kickbacks)
10. Extra Judicial Killings
11. Arroyo Moneys in Germany (Exposed by Senator Cayetano)
12. General Garcia and Other Military Men
13. Billion Peso Poll Automation contract (P1.3 Billion)
14. Northrail Project($503 Million)
15. Maguindanao Results of 2007 Elections (Zubiri, Bedol)
16. NAIA-3
17. Venable Contract (Norberto Gonzales)
18. Swine Scam (Exposed by Atty. Harry Roque) - Details in this link http://www.newsflash.org/2004/02/hl/hl107311.htm
19. P432-million fertilizer deal in 2003
Gold Parties
Journalist and former Ombudsman of the DA Marlene Esperat was killed 2005. The gunmen were apprehended and convicted, but the mastermind was never caught. newsinfo.inquirer.net/inquirerheadlines/nation/view/20081023-167961/Marlene-Esperat-murder

i think this is still not enough...i got this from
http://arroyocorruption.pbworks.com/w/page/13705457/FrontPage

kalbongdad

March 18th, 2011, 04:02 PM

Narnian_King

March 18th, 2011, 04:04 PM

Parchie

March 18th, 2011, 04:11 PM

NOVO ECIJANO

March 18th, 2011, 04:40 PM

Napakalaki pala ang kasalanan ni GMA! Biruin mo, pati journalist na pinatay, si GMA ang may kasalan! Bilangin natin. . . 20 counts pala! hehehe. Kelan po ba ang hearing ng mga iyan?

magkano kaya ang nagastos ng oposisyon to demolish GMA.sa mga rallies,mutinies,?
Hanggang ngayon daw naniningil pa iyong mga gumawa ng mga documents
sa recto.iyong mga whistle blowers sa Garci hindi pa rin daw fully paid ang
bayad,at iyong din nag retoke sa Garci cd.dahil hindi naman daw successful.

rain34

March 18th, 2011, 04:47 PM

^^ haha kaya nga kampi na ako sa inyo eh

kalbongdad

March 18th, 2011, 04:55 PM

hay buhay sa pinas.....the pipol who matters are out of gov't yung nasa gov't naman ay pipitsugin.....:ohno:

rain34

March 18th, 2011, 05:00 PM

hay buhay sa pinas.....the pipol who matters are out of gov't yung nasa gov't naman ay pipitsugin.....:ohno:

edi umalis ka na lang ng bansa Japan perhaps?

kalbongdad

March 18th, 2011, 05:23 PM

edi umalis ka na lang ng bansa Japan perhaps?

ay may nasapol ba ako...? sori po kalbo lang....:lol: siguro mas maganda kung sa libya...sa libya ka pumunta....para makatulong ka sa bansa mo....:lol:

rain34

March 18th, 2011, 07:23 PM

ay may nasapol ba ako...? sori po kalbo lang....:lol: siguro mas maganda kung sa libya...sa libya ka pumunta....para makatulong ka sa bansa mo....:lol:

hardly...gusto ko lang i-point out na hindi si "little evil gloria" ang messiah at hindi sya dapat sambahin like what you are doing. and aside from that your baseless tirade on Pnoy regarding Unemployment and Inflation are all unfair. If things still not improve for quite some time with him as the captain of the ship then I rest my case. I agree with you regarding Mr. Lopez incompetency on handling the Japan crisis, this i believe is appointed by the President (correct me if i am wrong), wrong choice for him...too bad our OFW are the ones suffering.

Askal82

March 18th, 2011, 07:25 PM

amigo32

March 18th, 2011, 11:28 PM

Wala man lang napatunayan na kasalanan nga ni lil evil gloria :lol:

kasi di makakonek:D line is busy:D line is unreachable:rofl:

Askal82

March 19th, 2011, 12:48 AM

Wala man lang napatunayan na kasalanan nga ni lil evil gloria :lol:

Kasi may levels of protection yan starting with the state prosecutors na maghilig sa plea bargaining agreement and her justice system. ;)

Once they're taken down one by one, it's going to be a meltdown. :lol:

Askal82

March 19th, 2011, 12:49 AM

kasi di makakonek:D line is busy:D line is unreachable:rofl:

Sa sobrang dami ng bahong sumisingaw, hindi na kapani paniwala na inosente talaga sya kaya dapat bulatlatin. :lol:

Askal82

March 19th, 2011, 12:51 AM

under pnoy,talagang minalas tayo lets admit that

Matagal ng minamalas ang Pilipinas. :lol:

amigo32

March 19th, 2011, 12:57 AM

Sa sobrang dami ng bahong sumisingaw, hindi na kapani paniwala na inosente talaga sya kaya dapat bulatlatin. :lol:

tandaan: innocent until proven guilty:D

puede kasi ang baho sa sarili mo nanggaling:D sa ilong mo mismo:D:rofl:

Askal82

March 19th, 2011, 12:58 AM

ay ang lola mo saan kayang mundo nakatira....out of touch sa realidad dito sa pinas.....yan ang pinagbubunganga ng idol mo.....kaya dyan sya sinisingil ang problema.....bunganga lang naman pala wala naman palang accomplishments....yung cct nya na ginaya kay little evil gloria....pinalpak pa....it was supposed to be a stop gap measure dahil sa crisis sa food sa panahon na yun....ang syunga mong idol kinopya sa panahon na wla nman food crisis...kaya ang nangyayari korapsyon din.....kaya ipinatitigil ngayon sa SC ang kahunghangan na ito......yung ppp naman ganun din...ang daming loop holes....na ngayon lang naglalabasan wala na ba talagan matinong magisip sa mga alipores ni pnoy.....tulungan mo nga baka sakaling may ideya ka ..... go now na...

Na dadala ang mga problema ng Pilipinas sa kasalukuyang administrasyon. Kahit anong administrasyon pa yan, kung may problema pa simula't sapol, hindi basta basta ang pag-aayos nyan lalo na't nabusog ng husto ang mga buwaya ng nakaraan. :lol::lol:

amigo32

March 19th, 2011, 12:58 AM

Matagal ng minamalas ang Pilipinas. :lol:

oo nga mas malas nga sa panahon ni Cory:D brownout palagi:lol:

lalo na ngayon sa panahon ng anak:D:rofl:

Askal82

March 19th, 2011, 12:58 AM

tandaan: innocent until proven guilty:D

puede kasi ang baho sa sarili mo nanggaling:D sa ilong mo mismo:D:rofl:

Yeah, but justice delayed is justice denied. ;)

First attack would be our state prosecutors who did a great disservice to the people about these gross abuses and anomalies of the past.

amigo32

March 19th, 2011, 01:01 AM

Na dadala ang mga problema ng Pilipinas sa kasalukuyang administrasyon. Kahit anong administrasyon pa yan, kung may problema pa simula't sapol, hindi basta basta ang pag-aayos nyan lalo na't nabusog ng husto ang mga buwaya ng nakaraan. :lol::lol:

oo nga sobrang may tama ka:D
pero ang magaling na pangulo ay hindi magtuturo sa nakaraan, bagkos ay gagawa sya ng solusyon sa problemang kagagawan ng ibang tao. dyan ako sasaludo sa kanya, pero ngayon? wala syang ginawa kundi magturo:D magdaldal, at magdaldal pa:D:lol:

Askal82

March 19th, 2011, 01:02 AM

oo nga mas malas nga sa panahon ni Cory:D brownout palagi:lol:

lalo na ngayon sa panahon ng anak:D:rofl:

Well, paano magkakaroon ng pondo ang gobyerno dati para magpagawa ng mga planta sa Pilipinas kung ninanakaw iyon lahat ng mga Marcoses.

Kaya napilitan si FVR na iapprove yung mga one-sided deals na yan dahil nga, walang pera sa kaban ng bayan.

Corruption din ang puno't dulo nun diba? ;)

amigo32

March 19th, 2011, 01:02 AM

Yeah, but justice delayed is justice denied. ;)

First attack would be our state prosecutors who did a great disservice to the people about these gross abuses and anomalies of the past.

:lol:palusot dat com

:lol:

Askal82

March 19th, 2011, 01:03 AM

oo nga sobrang may tama ka:D
pero ang magaling na pangulo ay hindi magtuturo sa nakaraan, bagkos ay gagawa sya ng solusyon sa problemang kagagawan ng ibang tao. dyan ako sasaludo sa kanya, pero ngayon? wala syang ginawa kundi magturo:D magdaldal, at magdaldal pa:D:lol:

Uhuh, pero paano itatama ang pangkasalukuyang sitwasyon kung hindi titingnan ang mga nakaraan at iwasto yun? ;)

Askal82

March 19th, 2011, 01:05 AM

:lol:palusot dat com

:lol:

Anything else? :lol:

amigo32

March 19th, 2011, 01:07 AM

Well, paano magkakaroon ng pondo ang gobyerno dati para magpagawa ng mga planta sa Pilipinas kung ninanakaw iyon lahat ng mga Marcoses.

Kaya napilitan si FVR na iapprove yung mga one-sided deals na yan dahil nga, walang pera sa kaban ng bayan.

Corruption din ang puno't dulo nun diba? ;)

so tuturo ka na namn?daldal:Dturo:Ddaldal
magtrabaho na lang.

sabagay ang pagdadaldal ay trabaho na rin pala ngayon:D

o sya, si Noy at Cory na ang magaling, hindi sila malas, sila ay santo:D sila ay mesiya:D
si macoy, glue, FVR, erap ang dahilan ng ating paghihirap ngayon. nagpahirap ng husto kay Noy:D

Askal82

March 19th, 2011, 01:55 AM

so tuturo ka na namn?daldal:Dturo:Ddaldal
magtrabaho na lang.

sabagay ang pagdadaldal ay trabaho na rin pala ngayon:D

o sya, si Noy at Cory na ang magaling, hindi sila malas, sila ay santo:D sila ay mesiya:D
si macoy, glue, FVR, erap ang dahilan ng ating paghihirap ngayon. nagpahirap ng husto kay Noy:D

Kaya hindi na nakapagtataka bakit ang karamihan ng mga laman ng balita ay ang pagrereklamo sa pagtaas ng singil kuryente. :lol:

Remember folks, we are still paying dearly from the Marcos blunder that took place more than 30 years ago.

If the government had the money then to build these power plants, there is no need to invite private companies and forge onerous contracts to hold our necks, securing our power supplies that is vital to our national development.

amigo32

March 19th, 2011, 02:43 AM

kalbongdad

March 19th, 2011, 03:07 AM

kailangan nilang sisihin si little evil gloria para mapagtakpan ang kahinaan ni pnoy.....almost 11mos in office and what has the guy done....may naideliver na ba?.....yung mga projects na binibida....tadtad ng kapalpakan....ano ba yan....

yung CCT na ginaya kay little evil gloria.....it was a project to mitigate yung food crisis sa panahon noon it was not designed sa panahon na walang krisis...e sa shunga itong si pnoy kung ano lang ang isubo ng dinky soliman kagat agad...nde man lang inisip ang context ng proyekto....kaya heto ngayon tadtad din ng kurapsyon kaya pinatitigil sa SC....ito ba ang pagbabago kung ito ang pagbabago...papasamang pagbabago ito.....

yung PPP na binabandera.....mukhang hindi pinagisipan dis sa kagustuhan na may maipakitang accomplishments......public and private partnerships....yun pala sa GFI's din kukunin ang puhunan kagaya ng GSIS, SSS, HDMF etc....e pakakaperahan din lang pala ang gobyerno...malalagay sa alanganin ang pundo ng retirement plans ng mga empleyadong pribado at gobyerno...ano ba....wala man lang bang may talino dyan sa admin ni pnoy para magisip ng bagong pamamaraan na may katuturan?

amigo32

March 19th, 2011, 03:10 AM

naku, mukhang di uso ang katalinuhan:D kabungangaan ang uso ngayon:D

pag mabunganga ka panalo:D

kalbongdad

March 19th, 2011, 03:18 AM

tama sabi ng titser ko....an empty can is noisy.......:ohno: hello...hello may laman ba utak dyan? hello....hello.....oi nag i-echo...malamang walang laman...:lol:

Sleepwalker

March 19th, 2011, 04:37 AM

then fight for it:D

sa legal na paraan.

hindi yung ituturo nyo ang duwende, kawawa namn sya sa media, gawin nyo sa korte, wag nyo syang gawing turuan pag hindi nag perform presidente nyong mahina:D

hanggat puro daldal lang kayo para bumango si Pinoy, meron magtatanggol sa kanya.

pag napatunayan nyo na sya nag nakaw, isa ako sa titiris sa kanya:D

Tama ka diyan, Mader....Excuse is a lie...Kung palagi na lang ginawang excuse ni PNoy si ex-PGMA, siyempre, para yan ma-divert ang focus nang mga tao. Na sa halip makita yong kapanotan nya, kapandakan ni ex-PGMA ang tinuturong bad omen.

Okay lang yang magturo, pero kapag habit na ang mangblame sa iba, delikado na yan.

Kesyo maraming koneksyon si ex-PGMA...Kaya raw di mahusgahan legally...Excuse na naman yan para ma-perpetuate lang nila ang paggamit sa mga corruption issues ni ex-PGMA sa pagbrainwash nang sangkatauhan... :)

Kintoy

March 19th, 2011, 04:55 AM

Nagnanakaw si pandak sa legal na paraan. Legal pero nakaw pa din. Gets?

Parchie

March 19th, 2011, 04:58 AM

Nagnanakaw si pandak sa legal na paraan. Legal pero nakaw pa din. Gets?
May judge pala rito.

Kintoy

March 19th, 2011, 04:59 AM

May quantitative analyst pala rito

Parchie

March 19th, 2011, 05:06 AM

May quantitative analyst pala rito
Trend ng business is quantitative! Hahahaha

Sleepwalker

March 19th, 2011, 05:28 AM

Nagnanakaw si pandak sa legal na paraan. Legal pero nakaw pa din. Gets?

Meron na palang legal na pagnanakaw ngayon...Bago yan... :)

Kung legal yan, hindi pala kasalanan yan...So ano pinagputok nang butse ni PNoy?

amigo32

March 19th, 2011, 05:50 AM

Meron na palang legal na pagnanakaw ngayon...Bago yan... :)

Kung legal yan, hindi pala kasalanan yan...So ano pinagputok nang butse ni PNoy?

:lol:ambobo ano:D sayang ang tax paaral sa UP:D

crappypants

March 19th, 2011, 06:10 AM

:lol:

wino

March 19th, 2011, 06:18 AM

:lol:

Askal82

March 19th, 2011, 06:25 AM

then fight for it:D

sa legal na paraan.

hindi yung ituturo nyo ang duwende, kawawa namn sya sa media, gawin nyo sa korte, wag nyo syang gawing turuan pag hindi nag perform presidente nyong mahina:D

hanggat puro daldal lang kayo para bumango si Pinoy, meron magtatanggol sa kanya.

pag napatunayan nyo na sya nag nakaw, isa ako sa titiris sa kanya:D

We've been fighting legally for years. The problem is they can buy the justice system kasi sila ang mapepera. It happened before and it will continue to happen if nothing gets done when no one attempts to correct it without sacrificing their pogi points for the next election.

Askal82

March 19th, 2011, 06:30 AM

Meron na palang legal na pagnanakaw ngayon...Bago yan... :)

Kung legal yan, hindi pala kasalanan yan...So ano pinagputok nang butse ni PNoy?

Unique sa Pilipinas yan. Ang lalaki ng mga comissions nila sa bawat project na tinatayo. Lumang balita na yung mga overpriced contracts na yan. :lol:

bitoy

March 19th, 2011, 06:45 AM

Legal kina GMA yung pagnanakaw nila dahil sila pa ang may hawak ng mga huwes. :lol:

Parang yung kaso ni Sikyu Mikey...bukong buko na at lahat na ng ibedensiya ay katulad ng ibang nahatulan sa parehong kaso, pero siya, congressman pa... :lol:

Askal82

March 19th, 2011, 07:00 AM

Openeconomy

March 19th, 2011, 07:17 AM

Unique sa Pilipinas yan. Ang lalaki ng mga comissions nila sa bawat project na tinatayo. Lumang balita na yung mga overpriced contracts na yan. :lol:

hindi unique sa pilipinas yan, halos lahat nang bansa merong ganyan, kahit dito sa america.

wino

March 19th, 2011, 07:21 AM

^^ So true...
it's not like Filipinos has the monopoly of all the kind of corruption in the world.

3cr

March 19th, 2011, 07:22 AM

WB: Japan crisis will impact global economy
By Caroline J. Howard, ANC
03/18/2011
http://www.abs-cbnnews.com/-depth/03/18/11/wb-japan-crisis-impact-global-economy

MANILA, Philippines - More than a week since the Japan quake, the tsunami that followed, and growing jitters over fears of a nuclear meltdown, Japan is slowly coming to grips with reality: astounding losses to life and property from its biggest natural disaster to date, and the gargantuan task of getting back on its feet.

Current estimates peg the cost of damage at $38 billion, but Japanese officials say the cost of reconstruction and rebuilding Japan could exceed 20 trillion yen or $200 billion.

Speaking to ANC, a visiting World Bank representative said that aside from battering the Japanese economy to a still uncertain degree, the monumental scale of the disaster in Japan will have an impact on the world economy.

"The cost to the economy of Japan and to the world is a multiple because it has short-term effects and some of the longer term effects thru livelihood agriculture exports not just a matter of reconstruction involved," said Vinod Thomas, Director-General of the World Bank's Independent Evaluation Group (IEG).

The IEG is in charge of evaluating the effectiveness of the World Bank's loans in producing results in countries around the world in the wake of natural disasters. In 2010 alone, the international lending agency provided some $6 billion in financing to countries.

Today, Thomas added, it is critical that countries like Japan factor in environmental protection and proper disaster mitigation into the development equation to see the full benefits of its reconstruction efforts.

"When we make these projections of growth, they have to take into count going forward, and without building in environmental care, mitigation against climate change, preparedness for natural disasters then long-term projections won't come true."

"This is a lesson beyond Japan in a sense that we have seen that these types of disasters have hit all regions and, in a sense, to the nature and pattern of development that we've grown accustomed to that need to be revised. I think building in preparedness with a much serious degree of alertness applies to all it does cost money, budget reallocations, capacity and technical ability to deal with them. The World Bank is involved in work with ministries and the public to deal with disasters of this kind, not to think of them as exceptions but rather, kind of the norm."

Alarming trends

The Japan quake and tsunami highlight Asia-Pacific's seeming predisposition to some of the world's worst natural disasters.

In 1960, World Bank studies show, 90% of about a million deaths recorded from natural disasters happened in Asia.

"Various studies have flagged Asia as a very vulnerable region in terms of earthquakes and floods and it comes with a sense of priority and urgency," said Thomas.

While the number of earthquakes have been steady in the last 30 years, Thomas says, typhoons, cyclones floods and other water-related disasters have been rising dramatically, increasing by as much as five times and affecting countries in Asia.

In 2010 alone, five out of ten major disasters, including earthquakes and cyclones, struck Asia.

Last year, with uncanny, almost prophetic timing, a World Bank study titled "It Is Not Too Late: preparing for Asia's Next Big Earthquake," discussed key challenges facing countries in Asia and ways they could prepare for the next big temblor. With the exception of Japan and New Zealand, the document said countries vulnerable to major damage from natural disasters had done very little to strengthen existing infrastructure. It also made recommendations on how they might be better prepared.

But as evidenced by the sheer intensity of recent quakes that hit both Japan and New Zealand and the substantial losses, Thomas says countries must now also rise to bigger challenges.

Lessons

A review of the World Bank's loans to countries following earthquakes, floods and all kinds of natural disasters across the world over past 15 years show, disaster mitigation as a factor in development should be more the rule than the exception.

Thomas cites the case of Honduras which continued to build schools in vulnerable areas despite the wave of disasters, and Bangladesh, where a major cyclone claimed 300,000 lives in 1970, but a cyclone of the same intensity 27 years later, in 1997, claimed less that 200 lives. Thomas notes early warning systems, disaster preparedness, and preemptive evacuation had spelled the critical difference in the death toll.

The Philippines, despite its advanced building codes, suffered extensive infrastructure damage from the 1990 earthquake in Northern and Central Luzon. Today, Thomas pointed out hazard-mapping efforts following the series of floods in the 1990s and in recent years, as well as government efforts to build a unit that zeroes in on disaster risk management, puts the country on track to better disaster mitigation.

"Some of the efforts are on the right track and just need to be intensified; the degree of alertness much higher. What is remarkable is the degree of consciousness of people on this issue is on an all-time high. Reacting can make all the difference."

"If prevention is very important why is in that 50% countries build in prevention into the projects they have going forward? If disasters recede from our memory for a year or two, the budget reallocation for fighting disasters also recede from the planning, so the priority attached to it or lack of it is the single biggest issue.The first thing is to give due priority to dealing with natural disasters as a necessary to progress."

"2010 was the wettest year, the hottest year in history. We have not seen anything like it in 10 years. If this trend continues, signalling the effect of climate change, being on the right track is essential but doubling the effort making sure the worst case scenario wont come true is also important."

"We may not be able to predict when the disaster will strike or where the disaster will strike. ng prepared and going the extra mile, the benefits outweigh the costs. In some estimates $1 put into prevention translates to at least $5 in terms of benefits. This is economics as much as it is good social policy."

Nature and development

"The Philippines along with so many countries have high degree of exposure and to a range of disasters. By some estimates its eighth in rank in terms of the risks it faces. Two-thirds to three-fourths are affected potentially so this is part of the Philippines' development challenge that why the effort to be better prepared for quakes, floods and typhoons is fundamental, partly to avoid the intensity of disasters and the potential of these events turning into disasters."

Thomas said, what's critical is to look at the vulnerable aspects of communities.

"When it comes to earthquakes, its a priority to look at building codes, zoning, where people locate. If people locate increasingly in harm's way the same disaster can have a bigger impact."

"On the flood cyclones and typhoons, you have a broader set of things as well involving a more sustainable management of the economy. Its a pity in the past 20 years just about every country has destroyed its agriculture base, forestry, the natural environment, all of which make the flooding much worse when disaster strikes. So to reconstruct and rebuild is not just the natural thing to do but the essential thing to do if communities are going to better survive in the future."

"It's a societal issue, it's not just government, the private sector, it's civil society."

"I would like to think that if the pattern and nature of development can be revised, we almost need a new paradigm of development, then we have a much better chance of dealing with disasters even in reducing their incidence and intensity as we achieve human progress at the same time."

"The implication for us is that nature is part of how human progress will or will not be possible."

________________________________________

“Apocalypse now?”
Zoilo ‘Bingo’ Dejaresco III / Free Enterprise
Business Mirror
March 17, 2011
http://www.businessmirror.com.ph/home/banking-a-finance/8727-apocalypse-now

CNN and BBC helped bring the horrifying spectacle  of the “Apocalypse Now”, the mega earthquake-cum tsunami in Japan, into our living rooms and offices with their graphic, clear pictures in all its gory, apocalyptic details.

The 8.9-scaled super earthquake rocked cities in Japan and up to 30-feet tsunami waves of terrifying force added the final blow.

Certainly not the biblical deluge of Noah, but this was the worst disaster in Japan since World War II. A larger one of 8.3 magnitude in 1923 hit Kanau, Japan wiped out 143,000 people. The one in Kobe (1995) had 6,400 casualties.

This time, in one city (Minami Sanrik) alone 10,000 of the 18,000 residents are still missing.

Kasenuma is one-third submerged by floodwaters and in Kamaichi, witnesses swore they saw boats, cars and trucks tossed by the tsunami like toys. Even large boats were thrown to land and in some places, the Japanese could not tell where “the sea begins and the land ends.”

Tokyo’s public transportation system halted and car giants Toyota, Nissan and Honda stopped operations although breaking news seems to indicate things are getting better in the Nippon capital. The Tokyo government will have to do a massive reconstruction and prevent a recession in the Land of the Rising Sun (no more?).

In some parts of this world’s third most-powerful nation, gas and food are thinning and water is rationed for one million households who lost their homes.

Volcanos are erupting with regularity everywhere; earthquakes are a dime a dozen in smaller scale. New Zealand just survived a huge one last month as Chile, Haiti, Schezhuan did in the previous recent years.

In 2004, 12 countries were affected by a killer quake and tsunami that killed over 240,000 including large losses in the tourist city Bali in Indonesia.

Thank goodness that Japan is so devoted  as an environmental protector that despite  the troubles with six of their nuclear reactors, the radioactive fallout is largely contained.

Japan is still nursing a guilt conscience over the consequences of its bellicose activities in the last war and is living the trauma of the atomic bombing of Hiroshima and Nagasaki.

Consider that it was just in 1986 when the Chernobyl nuclear facility melted down and recorded 4,000 dead among the 600,000  men affected over a vast expanse of land that enveloped Russia and a large part of Europe.

In Chernobyl, no flora or fauna can survive the next 100 years within the three-mile radius of the reactor and mutants of flowers, animals and babies have been documented as a result of the nuclear toxin infection near the area.

Although Japan has 55 of the world’s 456 nuclear plants, they are covered by thick domes and fail-safe measures. It was just the gigantic tsunami that destroyed the nuclear-plant system as it did the most damage that the earthquake could not inflict upon Japan’s quake-insulated buildings.

So, what should worry the Philippines then?

It is unfortunate that the Philippines is within the “Pacific Rim of Fire” where 90 percent of the world’s earthquakes occur. Moreover, if the quake occurs in China, then a tsunami from the China Sea can hit RP; if from Japan, from the Pacific Ocean. It is a worrisome situation for our coastal towns and cities, both east and west. Remember, we, too, have 7,100 islands (high tide) which are almost defenseless against gigantic tidal waves.

Also, we can continue to be in a state of denial about the three earthquake fault lines in the Philippines (Manila, Marikina and the Eastern Philippine Fault) until the Big One strikes to our own peril.

Renowned architect and urban planner Jun Palafox says many of Metro Manila buildings are quake risks (JICA says it is 40 percent) and the Palace calls him an alarmist. The National Disaster Risk Reduction and Management Council chair Benito Ramos proudly said the other day that all the new high-rise residential and commercial buildings in Manila can withstand a 7.0- magnitude quake. And the UP Institute of Geological Services claimed the shortness of our fault lines in Manila makes those magnitudes in Japan unlikely to occur here.

But the three Philippine fault lines are great equalizers of misery in the sense that they do cut across all class levels of dwelling and business homes of the rich and the poor.

Moreover, the Building Code in the country is observed more on the breach and the DPWH checking out its own infrastructure status is the moral equivalentof asking a comptroller to audit himself. We need an independent building and infrastructure audit pronto nationwide.

God forbid, when the Big One strikes, all the “corruptors and corrupted” will stand trial before their own conscience as roads and bridges, school buildings, public buildings, condos and hospitals built on inferior materials and designed to give way to “kickbacks”, will collapse and they will see their own countrymen and perhaps even their loved ones suffer. Karma?

Recently, moves to revive the mothballed Bataan Nuclear Power Plant (BNPN) again surfaced. What they should studiously consider is that although the BNPN is perched 18 meters above sea level, the Japan tsunami waves at peak points reached 30 meters and the fact that while Westinghouse designed the plant (during the Marcos era) that does not guarantee that its local sub-contractors did not do the notoriously Filipino “structural shortcuts.”

Meantime, the deep embankments and breakwaters at the seashores (versus tsunami) and the water storage tanks per two kilometers as proposed by disaster experts remain unheeded to this day, to a large degree.

“Apocalypse Now” happened in well-prepared neighbor Japan.

What in the name of the merciful saints is this Third World country called the Philippines waiting for?

Askal82

March 19th, 2011, 07:33 AM

hindi unique sa pilipinas yan, halos lahat nang bansa merong ganyan, kahit dito sa america.

^^ So true...
it's not like Filipinos has the monopoly of all the kind of corruption in the world.

Unique in a way na, malaki ang cutting kaya naooverpriced. Maraming pinagdadaanan yan, galing sa taas, pababa. May kanya kanyang slice yan. :lol:

boypad

March 19th, 2011, 07:49 AM

Japan disaster seen to cut local exports, financial aid

SunStar Manila, Philippines
By Virgil B. Lopez
Friday, March 18, 2011
http://www.sunstar.com.ph/manila/local-news/2011/03/18/japan-disaster-seen-cut-local-exports-financial-aid-145641

MANILA -- The Philippines will have to brace for lower exports and lesser financial aid for infrastructure projects after last week’s massive earthquake and tsunami in Japan, an analyst said Friday.

“The disaster in Japan will be greatly felt by the Philippines, which failed to develop internal economic strength and is unduly reliant on foreign external factors. It is likely that Japanese investments and official development assistance to us will drop or at least slow as Japan tries to reconstruct itself,” Sonny Africa, research head of militant think-thank Ibon Foundation told Sun.Star.

Last year, Japan contributed 36 percent of the estimated $9.7 billion of foreign aid given to the Philippines as President Benigno Aquino III even announced some $2.85 billion worth of Japanese investment pledges in power, transport, and infrastructure.

Philippine exports to the world’s third largest economy might also suffer, affecting local companies involved in manufacturing construction equipment, auto components, and food.

These sub-sectors comprise the bulk of an estimated $7.8 billion worth of Filipino products and services imported by the Japanese in 2010. The figure represents 15 percent of the $52-billion export receipts last year.

Semi-government Export Development Council had targeted exports to grow by only 13 percent in the next three years due to threats to global economic recovery and an appreciating peso, which makes exports more expensive.

“All these will only be aggravated to the extent that the Japanese crisis disrupts the fragile supposed global recovery — shaken already by weak US economy and Middle East troubles,” Africa noted.

On the positive front, Labor Secretary Rosalinda Baldoz had said the Philippines will stand to gain from the latest calamity that hit Japan because of reconstruction efforts there.

Africa however saw the reverse, saying it remains uncertain how far the country will benefit from Japan’s plan to rebuild itself.

“The demand for overseas Filipino workers may drop as the Japanese economy struggles to recover,” he said.

Some 300,000 Filipinos in Japan sent home $883 million in 2010, nearly five percent of the $18.76 billion total remittances that fuel consumption expenditure in the country.

Philippine shares advance

Stock markets around the world blinked days after the quake including the Philippines, which only recovered Friday after a four-day decline.

The Philippine Stock Exchange index inched up 0.59 percent or 22.5 points to end the week at 3,839.88, while the broader all shares index climbed by 0.75 percent or 21.49 points to close at 2,881.09.

Market breadth was positive with 89 advancers compared to 35 decliners and 37 stocks that remained unchanged. Trading volume totaled P5.58 billion, with over 1.15 billion shares changing hands.

Positive developments in averting a nuclear meltdown also buoyed the Japanese benchmark Nikkei 225 stock average by three percent following a turbulent week of trading.

The Nikkei 225 stock index rose 2.7 percent to 9,206.75, while the yen retreated against the US dollar to 81.71 after the Group of Seven rich nations decided to make interventions to arrest yen’s further appreciation.

The yen hit a post-World War II high of 76.25 yen earlier this week, which was deemed detrimental for the recovery of Japan’s export-oriented economy.

A strong yen would make Japanese products expensive to foreign consumers and strain profits of top companies.

"As we have long stated, excess volatility and disorderly movements in exchange rates have adverse implications for economic and financial stability," the G7 said in a statement.

The G7 comprises the United States, Japan, Germany, France, the UK, Italy and Canada. The Bank of Japan also infused 38 trillion yen ($470 billion) this week to calm investors.

However, the move is not enough to prevent Japan from slipping into another recession as losses from the earthquake and tsunami are expected to topple the $200-billion mark.

Although it posted a 3.9 percent economic growth last year, this does not stop China, the world's fastest-growing economy, to overtake Japan as the world’s second biggest market.

Without accounting for inflation, Japan’s gross domestic product hit $5.47 trillion while China reported $5.87 trillion. Japan relinquished the position after 42 years of trailing the US, the world's largest economy. (Sunnex)

Openeconomy

March 19th, 2011, 08:22 AM

Unique in a way na, malaki ang cutting kaya naooverpriced. Maraming pinagdadaanan yan, galing sa taas, pababa. May kanya kanyang slice yan. :lol:

corruptin is corruption,dyan billions of pesos dito trillions of dollars, it doesnt matter who gets what, people and economies are destroyed, again, we filipinos are not that smart natayo lang ang marunong magcorrupt and we are not that dumb.

Bricken Ridge

March 19th, 2011, 08:35 AM

bitoy

March 19th, 2011, 08:57 AM

3cr

March 19th, 2011, 08:58 AM

S&P says impact of Japan disasters to RP minimal
abs-cbnNEWS.com
03/16/2011
http://www.abs-cbnnews.com/business/03/16/11/sp-says-impact-japan-disasters-ph-minimal

MANILA, Philippines - Credit rating firm Standard & Poor's said the Philippines and other Asia Pacific economies are expected to perform well this year, adding that the impact of the disasters in Japan would be minimal.

S&P said the credit rating outlook for countries in the region remains favorable.

The Philippines is rated two notches below investment grade by S&P.

It raised its Philippine rating last November from 3 notches below investment grade, citing the country's rising dollar reserves and growing economy.

"We expect the region to record another year of solid growth in 2011 after 2010 proved that Asia is emerging from the [global economic] crisis in a strong position, even as the economic picture for Japan following the recent earthquake remains less clear," S&P said in a report titled, "Asia-Pacific Markets Outlook 2011: Managing the Asian Growth Challenge."

S&P expressed confidence that the adverse economic impact of the earthquake and tsunami that hit Japan may spill over to Asian neighbors.

Japan imports goods from the Philippines and other Asian countries,

S&P sees the Philippines growing by 5.1% and 5.6% this year, and by 5.5% to 6% next year.

It also expects inflation in the country to be benign at between 4.3% and 4.8% this year and between 4% and 4.5% next year.

Ephesus29

March 19th, 2011, 09:58 AM

Few more weeks and the global industries that rely on Japanese parts and supplies will feel the effect of this disaster.

Maraming kano dito na galit sa mga Hapon ang maririnig mo na sinasabi parati ang "buti nga sa kanila", and they will be more pissed off if some of their plants will layoff people or shutdown because of limited parts coming in from Japan. Sila naman ang iiyak... :D

highlighted: yeah, my wife's brother-in-law is one of them. He is from North Carolina. He bashes Japanese all the time when he and his wife visits us here in Vancouver. He even told me that he never would allow me to park my Infiniti in his carport because it is Japanese Car.

BTW perhaps, there is an opportunity that could be taken out from the disaster in Japan. Just maybe, Philippines could reposition itself in terms of manufacturing parts/supplies for all electronics products that the Japanese won't be able to provide while they are recovering from the earthquake and an emminent nuclear fallout. Or why not ask the Japanese Manufacturers to move their plants in the Philippines. Would it be possible?

Nabartek

March 19th, 2011, 11:56 AM

Or why not ask the Japanese Manufacturers to move their plants in the Philippines. Would it be possible?

Great idea to boost our company but then, I remember we have high cost of electricity and among the protesters, there is an anti-Japanese sentiment (maka nakuha nila sa ChiCom). I hope though that if ever, we can encourage the Japanese firm to invest here. Ang maganda kasi sa Japan eh yung producto nila, hindi natin producto kaya competition is low.

first knight

March 19th, 2011, 12:24 PM

Most Japanese competitors will take this disaster in Japan as an opportunity. In the US, American technology, auto, machinery and other industrial companies will be very happy to supply the American market.

Nabartek

March 19th, 2011, 12:28 PM

^^ more of like most countries, IMO. :lol: Every nation as its "national interest".

first knight

March 19th, 2011, 12:53 PM

^^ more of like most countries, IMO. :lol: Every nation as its "national interest".

Not all countries.

The US can equal or even surpass Japanese made quality and high technology goods, so there is no problem. In the case of the Philippines, the US and our Asian neighbors like China and Taiwan can replace Japanese "raw" materials and finished products that our country needs like auto and electronic components, semiconductors and machineries.

Nabartek

March 19th, 2011, 12:59 PM

Not all countries.

The US can equal or even surpass Japanese made quality and high technology goods, so there is no problem. In the case of the Philippines, the US and our Asian neighbors like China and Taiwan can replace Japanese "raw" materials and finished products that our country needs like auto and electronic components, semiconductors and machineries.

Hence, the "opportunity". In the case of the Philippines, as one forumer suggested, moving manufacturing to the Philippines while Japan is recovering. That is an opportunity that is within out national interest.

And I said most, not all.

first knight

March 19th, 2011, 01:05 PM

Hence, the "opportunity". In the case of the Philippines, as one forumer suggested, moving manufacturing to the Philippines while Japan is recovering. That is an opportunity that is within out national interest.

And I said most, not all.

Most is an incorrect word. Very few countries (with competitive prices) can replace Japanese supplies.

Some Japanese manufacturing moving here? Maybe. Most Japanese companies have established alot of subsidies abroad.

But we can hope and try. Though we have high power and labor costs plus poor transport system, we have the PEZA ecozones as excellent alternative sites for Japanese companies who wants to relocate abroad.

Askal82

March 19th, 2011, 06:09 PM

Not all countries.

The US can equal or even surpass Japanese made quality and high technology goods, so there is no problem. In the case of the Philippines, the US and our Asian neighbors like China and Taiwan can replace Japanese "raw" materials and finished products that our country needs like auto and electronic components, semiconductors and machineries.

Instead of China, why not South Korea instead? They're more technologically advanced than China. It's a good alternative to Japan at this moment.

Nabartek

March 20th, 2011, 01:54 AM

^^Add to that that there are SKoreans that are still thankful for our participation in the Korean War despite our country still recovering from ww2. On the other hand, like Japan, SK is not much of a competitor since we have different products. Unlike the big red dragon out there...

I might add, SK has the fastest internet, baka puede sila maginvest ng mabilis din na internet sa Pinas :lol:

mwg12a

March 20th, 2011, 02:17 AM

hindi unique sa pilipinas yan, halos lahat nang bansa merong ganyan, kahit dito sa america.

Unique in a way na, malaki ang cutting kaya naooverpriced. Maraming pinagdadaanan yan, galing sa taas, pababa. May kanya kanyang slice yan. :lol:

Actually, malaking puntos ni Askal dito. May malaking difference ang style sa filipinas. Ofcourse, may mga corruption sa ibang bansa maging, US, Japan, Korea o China, ang difference ? Yuong kalalaan nito lalo na kung nagiging maslalong mahirap ang mga filipino at dumadami lalo ang nagiging overseas workers.. Nakita ba natin ang Japan na maging DH or Magwork sa ibang bansa as nurses,doctors or therapists? Naturalmente, mas malakas at malawak mag kick back ang mga pinoy politicians...

Nabartek

March 20th, 2011, 02:27 AM

Actually, malaking puntos ni Askal dito. May malaking difference ang style sa filipinas. Ofcourse, may mga corruption sa ibang bansa maging, US, Japan, Korea o China, ang difference ? Yuong kalalaan nito lalo na kung nagiging maslalong mahirap ang mga filipino at dumadami lalo ang nagiging overseas workers.. Nakita ba natin ang Japan na maging DH or Magwork sa ibang bansa as nurses,doctors or therapists? Naturalmente, mas malakas at malawak mag kick back ang mga pinoy politicians...

comment lang, Spangalog? Bien, bien, senor (di ko lam paano sa keyboard yung enye eh)

mwg12a

March 20th, 2011, 02:31 AM

^^ press "alt" while keying in the numbers 1-6-4 for ñ

Nabartek

March 20th, 2011, 02:39 AM

^IDK but it's not working for me...

amigo32

March 20th, 2011, 03:17 AM

saang keys ginamit mo sa numbers? dapat sa numpad:D it won't work kung sa taas:D

mwg12a

March 20th, 2011, 03:21 AM

Or maybe, he did not keyed in the number fast enough. But yes, it should be at calc pad or numpad.

Nabartek

March 20th, 2011, 03:36 AM

My laptop doesnt have numpad....

amigo32

March 20th, 2011, 03:42 AM

My laptop doesnt have numpad....

you can copy paste na lang:D

or you can use the on-screen keyboard. nasa ease of access sa accessories. be sure to turn on numeric key pad:D

kalbongdad

March 20th, 2011, 04:23 AM

Government urged: Get ready for rise in number of unemployed
By Marvin Sy

Another.....accomplishment by pnoy and friends......:lol:

first knight

March 20th, 2011, 06:59 AM

Huge industrial investments that will make a huge impact on the Philippine economy.

Perhaps Shell is wary that sooner or later they will be eclipsed by a local giant in San Miguel owned Petron Corp. that will also spend billions of dollars in refinery and LNG investments.

Shell broadens RP investment plan with LNG, refinery upgrade

By MYRNA M. VELASCO
March 17, 2011, 1:38am
Manila Bulletin

LONDON, England — After losing out for so many years, the Philippines is finally back in the investment map of multinational oil giant Royal Dutch Shell plc with plans for capital outlay on liquefied natural gas (LNG) facilities and a highly-probable conclusive push for its local subsidiary’s $3.0 billion refinery upgrade.

“We are interested to deliver LNG into the Philippines, like we are interested also in other countries in the Far East, such as Vietnam,” Shell Global Chief Executive Officer Peter Voser has divulged during a roundtable conference with select group of foreign journalists at the Grange St. Paul’s Hotel here, wherein he laid down his company’s $100 billion investment strategy for the next five years.

“Shell expects over $100 billion of net capital investment for 2011-2014, some $25-$27 per year, in line with previous guidance, to underpin the upstream growth profile and Shell’s downstream strategy,” he said.

For the Philippines, the proposed additional ventures would be on top of the earlier announced $1.0 billion upstream investment that the company will be pursuing along with partners for the phase 2 of its Malampaya deep water gas-to-power project – of which cash call is scheduled to start this year.

The gas supply, Mr. Voser said, will likely be coming from Australia or Qatar – the key markets which will be delivering the 7.9 million tonnes of LNG that the company would be setting on stream in the immediate term.

“I think the most logical place to get LNG from would be Australia, and there would also be some Middle Eastern possibilities like Qatar, so we’re working on all of them,” he emphasized.

The major driver that can win over the company’s final nod on investment for LNG regasification facilities in the Philippines would be the scale of contracts that they can corner to guarantee a firm market for the gas supply.

“We are in contact with Philippine companies and the government in order to see development where we can be involved in … but most important is, we can place long-term contracts for the regasification facilities,” Mr. Voser said, further noting that the investments could either be for floating or fixed LNG terminals depending on how the market’s needs would shape when the investment decision is finalized.

On the refinery upgrade, the chief executive of the Netherlands-headquartered oil giant pointed out that investment options are currently being weighed seriously, giving due consideration to meeting the higher fuel quality specifications (i.e. Euro IV fuels) which are due for enforcement by January 1, 2016.

The oil firm’s local subsidiary -- Pilipinas Shell Petroleum Corporation -- has, for several times, updated the refinery upgrade investment plan. So far, number crunching keyed in prospective investment of $1.0 billion for simpler upgrade; and a higher-end $3.0 billion if compliance with higher fuel quality standards would be factored in.

As he hinted on the direction they will be taking, Mr. Voser somehow brushed off protracted speculations that the company may decide to cease its refining operations in the Philippines.

“I know nothing about closing it (the refinery), we are looking at that investment…we are now looking at the new specs (specifications) and that needs some upgrading and the investment,” he stressed.

For Euro IV fuel specifications, players in the Philippine downstream oil industry noted that the magnitude of investments needed by refiners could range from $500 million to $1.5 billion to turn their refining facilities into a more complex state; which will then be able to meet the prescribed product quality.

Euro IV fuel standards primarily targets to reduce the sulfur content in diesel to at least 50 parts per million.

The country entered Euro II specifications for fuel in 2008, yet even for that standard, problems already arose as to the readiness of vehicles to take on better quality of fuels, so that is the side that the government must also address prior to the 2016 implementation timeline for the policy.

Openeconomy

March 20th, 2011, 07:53 AM

Actually, malaking puntos ni Askal dito. May malaking difference ang style sa filipinas. Ofcourse, may mga corruption sa ibang bansa maging, US, Japan, Korea o China, ang difference ? Yuong kalalaan nito lalo na kung nagiging maslalong mahirap ang mga filipino at dumadami lalo ang nagiging overseas workers.. Nakita ba natin ang Japan na maging DH or Magwork sa ibang bansa as nurses,doctors or therapists? Naturalmente, mas malakas at malawak mag kick back ang mga pinoy politicians...

cg na nga tayo na ang pina ka walang hiya, bobo, tarantando, walang silbi, pinakatamad, third world citizen sa boung mundo...tama nakayo...

Kintoy

March 20th, 2011, 08:26 AM

Parchie

March 20th, 2011, 10:36 AM

My laptop doesnt have numpad....

We have the same predicament here. My workaround is to compose replies in Word, then copy-paste to the reply space in this forum. In Word, you can use the "Insert" function and choose "Symbol" and select the character you want inserted in Word.

Hope that helps.

Manila-X

March 20th, 2011, 10:45 AM

kalbongdad

March 20th, 2011, 11:01 AM

no point in that now.....ang gawin na lang natin ay pilitin itong admin ni pnoy na kumilos at gumawa ng mga tamang economic policies.....hindi yung bunganga ng bunganga tapos puro kapalpakan naman ang lumalabas.....ano na ba nagawa ni pnoy and friends....sa 11 mos... nila...laking pasahod konti output....ano ba yan....

monsy

March 20th, 2011, 11:18 AM

kalbongdad

March 20th, 2011, 11:18 AM

BOP ends February with $133-M deficit

By Michelle Remo
Philippine Daily Inquirer
First Posted 21:42:00 03/18/2011

wipe out agad ang Jan surplus na $34 million.......mukhang window dressing lang yun.....

boypad

March 20th, 2011, 11:21 AM

Government urged: Get ready for rise in number of unemployed :ohno:

By Marvin Sy (The Philippine Star)
Updated March 20, 2011 12:00 AM
http://www.philstar.com/Article.aspx?articleId=667915&publicationSubCategoryId=63

MANILA, Philippines - The Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) should start preparing for the rise in the number of unemployed because of developments around the world, Sen. Manuel Villar Jr. said yesterday.

With Japan still reeling from the magnitude 9.0 earthquake and accompanying tsunami that hit its northeast region last week, Villar said it would not be farfetched to see a number of Japanese companies, including those situated in the Philippines, to be affected by the catastrophic incident.

Villar, chairman of the Senate committee on trade, said Japanese firms have a strong presence in the country, particularly in the Clark Freeport in Pampanga where 26.75 percent of companies are run by Japanese nationals.

He also cited data from the Philippine Economic Zone Authority indicating that there are at least 580 firms with Japanese equity availing themselves of incentives in various economic zones across the country.

“While we continue to hope for the best, we must also be realistic about the consequences attached to the sad and tragic turn of events in Japan,” Villar said.

Villar also cited the continuing turmoil in the Middle East where political unrest has hit several nations and has affected a significant number of Filipino workers based there.

He said the Middle East, which has traditionally been the source of overseas employment for jobless Filipinos, is already showing signs of trouble and could affect thousands of Filipinos working there and those bound for that region.

“Today, we are witnessing the signs of reverse migration from different points in the Middle East and Asia due to external factors and not because of a fast-growing national economy. We need a concrete plan to boost domestic investments and create alternative jobs for displaced and repatriated workers,” Villar said.

According to Villar, unemployment in January rose to 7.4 percent with an estimated 2.9 million Filipinos without work, compared to 2.8 million the previous year.

“This number excludes workers affected by the effects of multiple crisis situations abroad on our own economy,” he said

Villar urged the Department of Agriculture and DTI to work together on a joint program to push agri-business as an alternative source of livelihood.

Priority slots

The Technical Education and Skills Development Authority (TESDA) said it would give priority to overseas Filipino workers (OFWs) who have been displaced from troubled countries in the Middle East in its free skills training.

TESDA director general Joel Villanueva gave this assurance yesterday as he issued a memorandum instructing the agency’s regional and provincial directors to ensure slots for repatriated OFWs.

“In view of the urgency to provide assistance to returning OFWs, specifically from Libya and other Middle East countries, all regional/provincial/district directors and administrators of TESDA Technology Institutions (TTIs) are hereby instructed to prioritize these workers in the various training programs being offered in TTIs,” he said.

TESDA is coordinating with the DOLE to get a list of OFWs who are interested to undergo skills enhancement programs.

Labor migration agreements

Sen. Francis Escudero, meantime, called on the government to enter into labor migration agreements with countries that take in Filipino workers in order to ensure that they are protected against abuse and labor malpractice.

Escudero lamented that reports of Filipino migrant workers facing various problems with their employers overseas continue to come in and oftentimes, they are left to fend for themselves.

He said the government should put in place a comprehensive labor migration policy for OFWs to ensure that they are safe and protected.

Among the common complaints of OFWs are those related to health and safety, labor malpractice, non-payment of overtime pay, withholding of pay slips, poor accommodations, discrepancies in wages and repatriation in case of crisis.

“It is high time that our government start to acknowledge that we have a labor-export policy and rid the industry of unscrupulous labor recruiters and protect our migrant workers,” Escudero said.

“We already have enough ripe reasons to initiate a government-to-government arrangement for labor migration since we have long seen the reality of a labor exodus of Filipinos to other countries. The Philippine government can no longer deny this,” he added.

Escudero’s call for labor migration agreements came as senior lawmakers said yesterday that the Aquino administration appears to have left OFWs trapped in troubled nations “like lambs to slaughter” as the government has failed to ensure their safety despite numerous opportunities to do so.

Zambales Rep. Milagros Magsaysay scored Malacañang for just asking trapped OFWs in Libya to go home instead of ramping up its efforts to repatriate them as United Nations gave the go-signal for international air strikes against Ghadafi-led forces.

She also cited reports that Philippine embassy officials in Japan wanted to evacuate when many Filipinos still remain trapped in disaster-hit areas in the north.

Senior Deputy Minority Leader and Quezon Rep. Danilo Suarez said most of the repatriated OFWs from Libya disclosed that they were able to safely return to the country only because they were assisted by their employers.

Akbayan party-list Rep. Walden Bello, chairman of the House committee on overseas workers affairs, urged Malacañang to secure OFWs as “Bahrain gets closer to breaking point.” There are about 50,000 Filipino migrant workers in Bahrain. - With Sheila Crisostomo, Paolo Romero

boypad

March 20th, 2011, 11:23 AM

‘PPP projects need to be protected from the Executive too’

By Ira Pedrasa, abs-cbnNEWS.com
Posted at 03/20/2011 4:40 PM | Updated as of 03/20/2011 4:40 PM
http://www.abs-cbnnews.com/business/03/20/11/%E2%80%98ppp-projects-need-be-protected-executive-too%E2%80%99

MANILA, Philippines - Former Justice Secretary Alberto Agra said private sector investors need to be protected from all regulatory risks, which includes policies by the Executive branch that are usually amended in the middle of the game.

In a seminar on Public-Private Partnerships (PPP) Skills organized by the Forensic Law and Policy Strategies Inc. (Forensic Solutions) and the Center for Global Best Practices last Friday, Agra said PPP contracts entered into by publicly-listed companies and prominent companies during the last administration are now under threat.

He noted that after the introduction of the PPP program in November, certain officials disclosed plans to withdraw incentives already given to some private sector proponents.

Agra is also former Solicitor General and Government Corporate Counsel. He is now head of the think-tank, Forensic Solutions.

“I pity these investors. Now, they are back to square one when all they did was to follow the law and rules. Who would want to invest if rules change mid-game,” he asked.

Aquino recently included in the administration’s priority bills amendments to the Build-Operate-Transfer Law, which includes creating a special fund to “defray the cost of compensation to project proponents which enter into BOT contracts.”

This is included in the PPP policy, which promises investors their money back should regulatory bodies later stop projects due to questions in the contracts.

Nonetheless, Agra said government agencies are paving the way for the cancellation of previous PPP contracts.
He noted that those about to be completed are now being stalled and under suspicion.

“Since PPP contracts entered into by this Administration will still be in effect after 2016, investors or private sector proponents must be protected from acts of this Administration. What will stop the next Administration from rescinding contracts entered into by the current Administration? What will prevent the next Administration from doing what this Administration is doing,” Agra warned.

He noted he is an advocate of PPP, but stressed “the door should swing both ways.”

“Any protection against regulatory risks must cover acts of all branches of Government, be it the Executive, Judicial or Legislative Branch,” he stressed.

kalbongdad

March 20th, 2011, 11:55 AM

agree.....lalo na sa admin ni pnoy na pabago bago ang isip...parang laban laban - bawi bawi....:)

mwg12a

March 20th, 2011, 12:22 PM

Lets say GMA did things that either helped or have hurt the country.

But what if FPJ won instead of GMA? Will he and his administration do the country well especially in economy? Will the Philippines fare good if FPJ was the president instead of GMA?

How about corruption? Would there be less corrupt politicians under FPJ?

What kind of economic programs will FPJ's administration have if he won the 2004 elections?

you never know... We can't really under estimate someone who we have not really tested. I"m pretty sure FPJ would have done everything in his power to save the image of movie personalities turn into politicians and curb down corruptions as well. But to throw the same question back to you. Did Arroyo fare good while she was in the office? Not with a much larger amount of corruptions that surpassed the Marcos Administration and not with unchanging and worsening poverty of filipinos. Remember? It is during Arroyo's administration where the poorest of the poor resorted into eating "Pagpag". The improvement in the Philippine economy under Arroyo administration is still supeficial when it did not alleviate the poverty in the country. GDP reports of increases are merely done for the sake of better credit ratings just so the Philippine government is assured of assistance and loan from overseas... Isn't this is one of those reasons why the US hold off with it's grant to the Philippine goverment until Arroyo turned over the power to Aquino? Because of the unresolved corruptions and murders of filipino journalists who has been exposing the wrong doings of government and military officials?

agree.....lalo na sa admin ni pnoy na pabago bago ang isip...parang laban laban - bawi bawi....:)

That is the only thing you can say about Aquino, being indicisive and slow..... I still think stealing from Philippine coffers and the dishonesty towards its own people during the Presidential election that resulted in "hello garcie" scandal and that secret deal with China over Spratley Island has a much greater offense than what you are accussing Aquino of. The amount of dollars being stolen from filipinos is enough to bring poverty level in the Philippines soaring high. Ramdam na ramdam ba talaga ang progresso ng bansa nuong panahon ni Arroyo na kahit ulti mo toilet papers, toothpaste, sabon , supplies kailangan pang imported lalong lalo na ang bigas na puede at kaya naman produce sa filipinas?

first knight

March 20th, 2011, 12:25 PM

anone

March 20th, 2011, 12:29 PM

you never know... We can't really under estimate someone who we have not really tested. I"m pretty sure FPJ would have done everything in his power to save the image of movie personalities turn into politicians and curve down corruptions as well. But to throw the same question back to you. Did Arroyo fare good while she was in the office? Not with a much larger amount of corruptions that surpassed the Marcos Administration and not with unchanging and worsening poverty of filipinos. Remember? It is during Arroyo's administration where the poorest of the poor resorted into eating "Pagpag". The improvement in the Philippine economy under Arroyo administration is still supeficial when it did not alleviate the poverty in the country. GDP reports of increases are merely done for the sake of better credit ratings just so the Philippine government is assured of assistance and loan from overseas... Isn't this is one of those reasons why the US hold off with it's grant to the Philippine goverment until Arroyo turned over the power to Aquino? Because of the unresolved corruptions and murders of filipino journalists who has been exposing the wrong doings of government and military officials?

dahil dyan sa katuwiran mo siguro isa ka sa bumoto kay Erap nung nanalo syang presidente at eto kay Noy ay ganyan din ang katuwiran mo. :bash:

first knight

March 20th, 2011, 12:38 PM

That is the only thing you can say about Aquino, being indicisive and slow..... I still think stealing from Philippine coffers and the dishonesty towards its own people during the Presidential election that resulted in "hello garcie" scandal and that secret deal with China over Spratley Island has a much greater offense than what you are accussing Aquino of. The amount of dollars being stolen from filipinos is enough to bring poverty level in the Philippines soaring high. Ramdam na ramdam ba talaga ang progresso ng bansa nuong panahon ni Arroyo na kahit ulti mo toilet papers, toothpaste, sabon , supplies kailangan pang imported lalong lalo na ang bigas na puede at kaya naman produce sa filipinas?

I concur.

anone

March 20th, 2011, 12:45 PM

first knight

March 20th, 2011, 12:52 PM

di ba si Noy ang nakaupo ngayon? bakit hindi nyo muna patunayan lahat ng mga binibintang nyo kay GMA?

Are you a five year old kid? You sound clueless and plain naive about what happened during Gloria's time.

mwg12a

March 20th, 2011, 01:01 PM

dahil dyan sa katuwiran mo siguro isa ka sa bumoto kay Erap nung nanalo syang presidente at eto kay Noy ay ganyan din ang katuwiran mo. :bash:

Ang katwiran ko kay Noynoy kahit hindi ako bumoto o boto sa kanya. SIYA NA ANG NANALO ng "legal", Nagpangako na lilinisin ang gobyerno ng corruption. Bakit ko susuportahan patalsikin siya na wala namang illegal na ginawa. Saan ka nakakita sa buong mundo na sumusunod sa democrasya na ang presidente na legal AT WALA PA NAMAN pagnanakaw na ginagawa, bakit patatalsikin ito??? Nararapat lang na intayin matapos ang term niya, gaya na rin ng kay Gloria nuon na hindi ako sangayon patalsikin dahil NAANDUON na siya at hindi nag stepdown nang mabuko sa hello garcie case. Yan ang point ko!!! Mahina na nga kung mahina si Aquino, pero dahil may support sa kanya ang international community at kumpiyansa sila na talagang lilinisin ang gobyerno, pinaubaya ko na rin ito dahil kahit paano, sa image na clean governance, mas madaling makapang inganyo ng foreign investors at tourism kung alam ng mga ito na mapapagkatiwalaan ang filipinas. Hindi mo ako katulad na talagang iniinganyo mong mag people power ulit. Para ano? Panibagong diktador at magnanakaw na naman ang maipuwesto? Tigilan na yang people power people power na yan. Na proved na naman ng history na hindi rin ikinabuti sa filipinas....naging medium lang ang mga ito na ang corrupt official, pinalitan ng mas naging corrupt na si Arroyo. Kung ako ang tatanongin mo, gaya ng sinabi ko kanina, Hindi giginhawa ang mga filipino kay FPJ at Arroyo kaya walang mas magaling sa dalawa.... Tignan mo na lang ang sarili mo... hanggang ngayon diyan ka pa rin sa Saudi at hindi ka na makahanap ng trabaho sa filipinas na tulad ng suweldo mo. hanggang ngayon 9 years after Arroyo administration, mas marami pa ang nasa labas ng bansa at patuloy na dumadami. Tignan mo ngayong maraming OFWs galing sa Libya, Egypt, Bahrain and I'm sure partly maraming galing sa Japan ngayon ang babalik... Anong trabaho ngayon ibibigay ni Aquino???? Hindi ito ginawaan paraan ni Arroyo na mabawasan ng deployment ng OFWs sa loob ng 9 years niya sa position inabuso niya, di sana hindi sakit ng ulo ang repartriation ng mga OFWs. Tignan lang natin, masuwerte ka na sinigurado ng Saudi royalties at government na hindi magaya sila sa Eqypt at Libya, pag hindi isa ka na sa statistic ng unemployed sa filipinas.

mwg12a

March 20th, 2011, 01:06 PM

di ba si Noy ang nakaupo ngayon? bakit hindi nyo muna patunayan lahat ng mga binibintang nyo kay GMA?

Bakit, siya ba ang corte suprema ? Hindi ba mga alagad pa rin ni Arroyo ang nasa supreme court kaya hinanapan nila ng butas na illegal ang committe na tinatayo ng Aquino administration???? Appointee ni Arroyo... Magisip isip ka nga!!! Kaya yon nag patuloy na kumuha ng mababang posisyon sa Pampanga.. Sino bang presidente sa buong mundo na pagka retire sa pagiging pangulo, sige pa rin sa pagtakbo ng public office? Sipag ba talaga lang ito o kailangan talaga niyang mag "hang on" sa power niya na pagiging politico dahil may pinoprotection ito na personal interests at agenda niya???

wino

March 20th, 2011, 01:38 PM

Who is this clown Agra?

well.. the clown does makes sense.

Parchie

March 20th, 2011, 02:45 PM

well.. the clown does makes sense.

I agree. Agra is just echoing businessmens' problems with government regulations! Like in a game, game officials should not change the rules in the middle of the game!
BTW, There are only few persons that changes their mind every now and then: 3 year-old children and demented persons! Irrational ang tawag sa mga taong ganyan!

NOVO ECIJANO

March 20th, 2011, 02:53 PM

kalbongdad

March 20th, 2011, 03:23 PM

sabi ko na sa inyo mga die hard pnoy iyong mga gumawa ng mga documents
sa Recto at nagretoke sa Garci CD hanggang ngayon naniningil pa sa oposisyon sabi.dahil sa hatred nyo kay GMA kahit ibintang sa kanya ang pagkamatay ni Dacer paniniwalaan nyo.tigilan nyo na ang panood ng ABS CBN at The Buzz at magbabago ang paningin nyo sa buhay.

hahaha.....:lol::lol::lol:

le Reine

March 20th, 2011, 03:29 PM

‘PPP projects need to be protected from the Executive too’

Aquino recently included in the administration’s priority bills amendments to the Build-Operate-Transfer Law, which includes creating a special fund to “defray the cost of compensation to project proponents which enter into BOT contracts.”

This is included in the PPP policy, which promises investors their money back should regulatory bodies later stop projects due to questions in the contracts.I agree with this one. Based from experience, various administrations like to amend programs and policies in the middle of the game. The best example of this is NAIA T3.

Eastern Dragon

March 20th, 2011, 03:30 PM

Are you a five year old kid? You sound clueless and plain naive about what happened during Gloria's time.

he is either that or an outright moron.

he might have missed the part wherein gloria said "I am sorry". :lol:

Eastern Dragon

March 20th, 2011, 03:36 PM

Who is this clown Agra?

more like the crying lady. :lol::lol::lol:

kalbongdad

March 20th, 2011, 03:58 PM

oi mga katsutsu.....aabot na raw 5.4 % ang inflation rate ng bansa....wow another accomplishment ito ni pnoy and friends....diba gusto natin tumaas lahat sa panahon ni pnoy....o eto na....nagtatasan na...ang unemployment lalo pang tumaas....ngayon itong inflation naman....lalo ring tumataas.....dapat magpasalamat tayo sa mga naka yellow blindfold dahil na improve nila ang statistics...tumaas.....diba mga katsutsu....:lol:

the glimpser

March 20th, 2011, 04:47 PM

Our country will be featured in The Asian Century tv programme at Channel News Asia 9:30 p.m. tomorrow. Hope it's positive.

Rebuilding in Japan to boost PHL economy in the long run: BSP
03/20/2011 | 09:27 PM

Projected to get a jumpstart from reconstruction efforts in Japan, the benefits of an economic boost in the quake- and tsunami-crippled country will likely trickle down to the Philippines, Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr. said Sunday.

Tetangco told reporters that the mega-quake and the ensuing tsunami that devastated Japan will create a “somewhat negative" impact on the Philippine economy – in the short term.

“But over the medium to long term, it is going to be positive because of the rebuilding and reconstruction efforts that will boost the Japanese economy," he explained.

Reuters has also reported that the disaster might “shake Japan out of its collective economic and political torpor of the past two decades and provide a new sense of purpose for a nation that has seemingly lost its way."

The report by Alan Wheatley, Reuters global economics correspondent, says that a sense of “public morality" among a large part of Japan’s population could move Japan in a positive direction.

The devastation in northeastern Japan likely killed at least 1,000 people, setting structures on fire and sweeping parts of some cities away.

Hitting PHL economy as well

Tetangco said the Aquino administration is still completing its assessment of the disaster’s impact on the Philippine economy, but gave a preview on the negative repercussions to the country’s trade, the remittances of overseas Filipino workers (OFWs), and the country’s access to assistance funds from Japan.

The BSP chief described Japan as one of the biggest buyers of Philippine-made export products, accounting for 16.2 percent of the Philippines’ total shipments last year.

Also, cornering 12.3 percent of the country’s imports last year, Japan is also one of the Philippines’ biggest source of imports.

Tetangco added that also at stake are the remittances of OFWs from Japan, that account for 4.7 percent, or $883 million, of the OFW remittances of $18.76 billion last year.

The BSP chief also said authorities must look into the disaster’s impact on official development assistance funds, as the Philippines remains the fourth largest recipient of concessional loans from Japan, next to Indonesia, China, and India.

He said another subject for review is the impact of the disaster on the country’s inflation rate, considering that the disaster might pull up demand for non-nuclear forms of energy such as oil.

Flour millers, on the other hand, have projected a drop in flour prices after Japan – the second largest importer of wheat from the United States – has posted a lower demand for wheat, pulling flour prices down.

Tetangco said the BSP will consider the situation in Japan as part of its environmental assessment during the second policy-setting meeting of the Monetary Board on Thursday. – with reporting by Paterno Esmaquel II/JE, GMA News

kalbongdad

March 20th, 2011, 04:49 PM

nde kaya naman para tayong mga buwitre labas nun....na makikinabang sa kasawian ng iba?....:lol::lol:

boypad

March 20th, 2011, 05:16 PM

CEB demands reciprocity amid open skies policy :nono:

The Daily Tribune
By Ayne Infante
March 21, 2011
http://www.tribuneonline.org/business/20110321bus2.html

The Gokongwei group’s airline firm Cebu Pacific (CEB) demanded reciprocity in the decision of President Aquino to open up the local air space through the recent issuance of executive orders.

While CEB welcomes the increase in air services into the Philippines that the executive order (EO) on open skies seeks, it has grave concerns about certain provisions of the EO that are apparently ill advised.

EO 29 would afford foreign airlines benefits so critical that if they are not reciprocated by foreign governments the growth and even the survival of Philippine carriers are at risk, it said in a statement.

Under EO 29 foreign airlines would be able to fly freely into and out of the country; Philippine carriers are limited to flights specified in existing air agreements with other countries.

By way of examples: Hong Kong carriers could now mount as many flights as they liked to Cebu, whilst Philippine carriers are limited to 2,500 seats per week; Chinese carriers would be able to fly from any of the major cities of Beijing, Shanghai or Guangzhou to Kalibo whilst Philippine carriers are denied such access by the Chinese; Korean carriers would have unlimited access to mount flights to Cebu or Davao, while local carriers are limited by the current entitlements that are fully utilized; and Singaporean or Malaysian carriers would be granted rights to fly to any country beyond the Philippines.

It added that Philippine carriers have no access to additional rights to fly beyond Singapore or Malaysia.

Furthermore, to gain these rights foreign carriers will not need to invest billions of dollars for their Philippine operations. Their investments are in their own countries. Their employees are not Filipinos. CEB has invested billions of dollars to expand air services within the country and to and from the Philippines to serve the Filipino public and tourists alike with low fares and brand new aircraft. CEB employs 4,300 Filipinos and countless thousands more are indirectly employed because of our operations.

In sum, we want the same benefits from the governments of these foreign airlines. We want reciprocity which is fair and reasonable. We are not asking for special favors, just a level playing field. If the benefits of air services liberalization flow only one way, we are discriminated against in our own country.

CEB has a strong record of supporting increased air traffic rights, and has fought hard for such increases.

CEB has been a major driver of tourism growth in this country. It has bought down fares making it possible for millions of Filipinos to fly for the first time and made travel to the Philippines affordable for millions of tourists.

“We believe the push to increase tourism can be achieved, by allowing both foreign and Philippine carriers equal access to traffic rights. We do not believe it is fair to deny CEB the right to compete,” it added.

CEB said it strongly urges the government to modify EO 29 — to include the basic pre-requisite of reciprocity in any air rights negotiations.

So if the Philippine government puts out the welcome mat for a foreign airline, CEB fully supports that, as long as that foreign airline’s government grants Philippine carriers the same opportunity.

All CEB asks for is reciprocity and a level playing field.

Simple Dude

March 20th, 2011, 06:29 PM

^^ why does the Philippine have to be like this,...

9Ll16x7agGM

:cry:

Simple Dude

March 20th, 2011, 06:32 PM

d/p

boypad

March 20th, 2011, 06:48 PM

3M OFWs face job loss :ohno:

BusinessMirror Online Edition
Monday, 21 March 2011 00:21 Estrella Torres / Reporter
http://www.businessmirror.com.ph/home/top-news/8861-3m-ofws-face-job-loss

THE Department of Foreign Affairs (DFA) said more than 3 million overseas Filipino workers (OFWs) are now facing security threats and mass displacement in the escalating conflicts in the Middle East and North African nations, but lack of funds and personnel continue to remain its biggest hurdles to address the worsening situation.

A senior diplomat, who requested anonymity, said the government needs to adopt a regional approach to such situations, but the handful of diplomats and staff and the 40-percent cut in the budget for Assistance to Nationals (ATN) limit their actions to attend to the needs of affected nationals. “There’s no money…our hands are tied.”

He said even ambassadors and officers providing assistance to Filipinos caught in the civil war in Libya, as well as those in Bahrain, Syria and other conflict areas, had to use their personal funds for their hotel and travel expenses. “What can we do when our ambassadors complain about this?”

The senior diplomat said the DFA had already in place a Middle East contingency plan in the event of war as early as August 2010. The ambassadors in the region submitted the proposal for the evacuation and repatriation of Filipinos from their respective posts, but the implementation was put on hold because there were no funds.

“If we had that Middle East contingency plan in place, we might have been in a better position to implement measures to ensure the safety of our nationals now facing threats in the escalating uprisings in the region,” he said.

Around 17,000 Filipinos have remained in Libya as North Atlantic Treaty Organization member-countries carried out the United Nations mandate to defend outgunned rebels against the regime of Libyan dictator Muammar Qaddafi. There are also some 17,000 Filipinos in Syria, while at least 31,079 are in Bahrain.

Of this figure, 2,000 nurses are in Tripoli and 584 in Benghazi, who stayed on in the face of the rebellion. DFA sources said these nurses were offered by the Qaddafi government triple their salaries if they stay.

The Bangko Sentral estimated in 2004 that the average salary of a Filipino nurse overseas is at $4,642 monthly.

DFA spokesman Eduardo Malaya said Filipino nurses chose to stay in Libya to fulfill their professional obligation and attend to the needs of the sick and wounded. “The safest places for them are the hospitals where they work. Hospitals are considered protected areas under international humanitarian law.”

Meanwhile, the Philippines supports the UN Security Council decision to impose the a “no-fly zone” over Libyan airspace.

“This UN action is a humanitarian measure which is meant to safeguard the civilian population in Benghazi and other contested areas of said country. Recent developments will not adversely affect Filipinos, since the bulk of our nationals already exited Libya,” said Malaya in a text message on Sunday.

The DFA will present to Congress on Monday the proposal to adopt a regional contingency plan for some 3,033,515 Filipinos facing threats and mass displacement in key Arab and African countries.

The department’s budget has been reduced by 40 percent to P10.98 billion this year from P19 billion in 2010. The bulk of the impact of the budget reduction was on the ATN fund, which decreased to P109.3 million this year from P200 million last year.

boypad

March 20th, 2011, 06:51 PM

Rate hikes seen starting

BusinessWorld Online Edition
Posted on March 20, 2011 11:01:42 PM
http://www.bworldonline.com/content.php?title=Rate%20hikes%20seen%20starting&id=28338

MONETARY AUTHORITIES could finally start raising key rates this week given inflationary pressures, with any decision also expected to be influenced by recent global developments.

The Bangko Sentral ng Pilipinas’ (BSP) has been saying the scope for maintaining interest rates -- unchanged since July 2009 -- is narrower. Its policy-making Monetary Board -- which in its last two meetings raised the inflation forecast -- will again discuss rates this Thursday.

Three out of five analysts polled byBusinessWorld said adjustments were forthcoming, ranging from 25 basis points (bps) to as much as 50 bps, while two said unrest in the Arab world and the disaster in Japan would also have to be considered.

A wider Reuters poll of 16 economists released on Friday also went along these lines, with 11 expecting rate hikes and five forecasting that overnight borrowing and lending rates would be kept at record lows of 4% and 6%, respectively.

"Things are pretty [much] the same when we said that the scope for keeping monetary policy has in fact narrowed," central bank Deputy Governor Diwa C. Guinigundo toldBusinessWorld on Friday.

"There is still great uncertainty in the market globally. The geopolitical situation has not eased ... in fact ... [it is] worse than before," Mr. Guinigundo added.

Along with the disaster in Japan, these developments "will have an important impact on commodity prices and [the] oil situation... trade, investments and demand on various commodities."

The Philippines is the only Asian economy not to have raised rates since the end of the global financial crisis, with the BSP pointing to benign inflation.

The rise in consumer prices, however, accelerated to 4.3 in February from 3.6% the month before. The January result, up from December’s 3%, had prompted the Monetary Board in February to raise its 2011 inflation forecast to 4.4% from 3.6%. The 2012 outlook was also adjusted to 3.5% from 3%.

Still, the new forecasts remain within the central bank’s 3-5% inflation target.

Barclays Capital economist Prakriti Sofat, in an e-mail toBusinessWorld, said: "We expect the central bank to hike the policy rate 25 bp in March... and deliver at least 75 bp of hikes, taking the policy rate to 4.75% by July."

HSBC regional economist Sherman W.K. Chan concurred, saying the Monetary Board would have to raise rates "to prevent runaway inflation."

"I expect a 25 bps hike... and a total of 100 bps for this year," Ms. Chan said in a separate e-mail.

"It is clear, especially after the release of the February CPI (consumer price index) data that inflationary pressures are intensifying," she added.

An economist from an international bank who requested anonymity, meanwhile, said rates could be raised by as much as 50 bps this week.

But Metropolitan Banking Corp. research head Ildemarc C. Bautista said the BSP could still end up keeping interest rates unchanged.

"I don’t think they will raise rates as of now, but will wait for one more month for more information or data on the effects of recent global developments," he said on Friday.

"What’s happening here is artificial inflation. In 2008, there was artificial inflation, but prices stabilized and the central bank did not raise rates then," he said. -- [I]from reports by A. S. O. Alegado and Reuters

What is basis point? follow the link below
http://www.investopedia.com/terms/b/basispoint.asp

FlashCollider

March 20th, 2011, 07:36 PM

^^ why does the Philippine have to be like this,...

9Ll16x7agGM

:cry:

Putik nakakapagpakulo ng dugo na ang mga hinayupak na walang pera ang magsasabi na Lima ang anak nila tapos magpapaawa na wala silang sapat na makain. Siraulo pala ang mga to eh. Nasan na ba ang RH Bill law?

FlashCollider

March 20th, 2011, 07:42 PM

first knight

March 21st, 2011, 12:53 AM

wino

March 21st, 2011, 01:42 AM

Who is this clown Agra?

more like the crying lady. :lol::lol::lol:

his remarks was very constructive IMO

i don't know why you guys are calling him names...
that's just silly. :ohno:

it's not like he is bashing your idol president..

first knight

March 21st, 2011, 02:23 AM

his remarks was very constructive IMO

i don't know why you guys are calling him names...
that's just silly. :ohno:

it's not like he is bashing your idol president..

Try to read very well his "pronouncements," totally silly. He should have said those silly things during the tenure of his boss Gloria.

Enough of this. Lets have some positive news.

Philec investing $100M in venture with Korean firm

By Amy R. Remo
Philippine Daily Inquirer
First Posted 22:05:00 03/20/2011

MANILA, Philippines—Lopez-led First Philec Solar Corp. is investing $100 million (about P4.5 billion) to put up a joint venture with Korea-based Nexolon for the supply of some 400 megawatts in “wafering” capacity to the Korean company.

FPSC managing director Arthur A. De Guia said the joint venture, to be named First Philec Nexolon Corp. (FPNC), was expected to begin its operations in the fourth quarter of the year and would likely create as many as 500 jobs.

De Guia said FPNC would be a large-scale silicon wafer-slicing facility. Its arrangement with the foreign partner will be similar to that with US-based Sunpower, except that its entire output will be dedicated to Nexolon.

Wafer is the basic raw material in making solar cells, which are needed for solar panels.

FPSC president and CEO Dan Lachica said the groundbreaking and inauguration ceremonies would likely be held in October.

The facility will be put up at the First Philippine Industrial Park in in Sto. Tomas, Batangas.

De Guia said that apart from its contract with Korea, FPSC is in talks with other potential partners and customers, but declined to name them so as not to preempt the negotiations.

Founded only in July 2007, Nexolon is already among the leading manufacturers of mono and multicrystalline solar wafers. The Korean firm targets to expand its own capacity to 1,000 MW by the end of 2011.

FPSC began operations only in June 2008 with its $100-million first large-scale silicon wafer-slicing facility in the Philippines in the same industrial park.

SunPower Philippines Manufacturing Ltd. (SPML) is the company’s main customer.

FPSC is a joint venture between First Philippine Electric Corp. (First Philec), a wholly-owned subsidiary of the Lopezes’ First Philippine Holdings Corp., and SunPower Philippines, a subsidiary of SunPower.

In a related development, De Guia said FPSC was putting up another company to be called First Philec Solar Solutions, which would be engaged in installing solar panels.

The establishment of this company will be dependent on the issuance by the Energy Regulatory Commission of the final feed-in-tariffs rule this year.

Ady001

March 21st, 2011, 03:22 AM