Good News

[KnightOfTheFlag]

BATANES IS OUR BANNER TODAY!!.......ANG GANDA!!....GO GO GO!! VOTE VOTE VOTE!!...CONGRATS BATANES!! MABUHAY!!

[d7beast]

aba nagbunga din pala yung pag pupursige ni Abad ano??? tama ba??? anyway, let's talk about our nice places minus the bad leaders,..

[hakz2007]

Just click the Batanes banner and vote

[xxxriainxxx]

Originally Posted by d7beast

aba nagbunga din pala yung pag pupursige ni Abad ano??? tama ba??? anyway, let's talk about our nice places minus the bad leaders,..

Batanes is Batanes regardless of the politicians.

[d7beast]

Kahit na gas lang okay na,..our country is so blessed, if not oil and gas deposits, it's copper and gold, or abundance in RE sources our country really need to invest in how to retrieve commercially these resources instead of letting foreigners recover it for us on a very lop-sided sharing scheme,..

Preparatory works start for Cagayan Valley oil prospect
By Neil Jerome C. Morales (The Philippine Star) Updated February 18, 2012 12:00 AM Comments (0)

MANILA, Philippines - Preparatory works for a $5-million oil exploration project in Cagayan Valley is already under way, an official of the Department of Energy (DOE) said.

Stakeholders of Service Contract (SC) 52 are already conducting a flow test as part of the drilling works at the Nassiping-2 well, DOE Assistant Secretary Ramon Allan V. Oca said.

“They have reached the target depth and they are expected to start the flow test,” he said.

The exploratory drilling began on Feb. 8 and reached a depth target of 3,014.4 meters on Feb. 11.

The SC 52 consortium is composed of Australia’s Frontier Gasfields Pty. Ltd. which has a 30 percent stake, Frontier Oil Corp. (50 percent) and E.F. Durkee & Associates (20 percent).

The group expects a well flow test for the Nassiping-2 this weekend. The test will aid the firms in determining the well design and equipment needed to develop the oil and gas reserves in the area.

SC 52 covers 96,000 hectares in Piat-San Jose in northern Cagayan Valley. The Nassiping-2 is an existing well containing a previously discovered but untested gas discovery. It was drilled in 1984 and penetrated a substantial, gas-bearing limestone section but was not flow-tested.

“The well test duration will be dependent upon results,” Frontier Gasfields said.



Frontier Gasfields and locally listed Trans-Asia Oil and Energy Development Corp. earlier signed a farm-in option agreement for SC 52 wherein Trans-Asia has the option to acquire 10 percent of the block upon payment of an agreed amount.

http://www.philstar.com/Article.aspx...bCategoryId=66

[KnightOfTheFlag]

Originally Posted by d7beast

Kahit na gas lang okay na,..our country is so blessed, if not oil and gas deposits, it's copper and gold, or abundance in RE sources our country really need to invest in how to retrieve commercially these resources instead of letting foreigners recover it for us on a very lop-sided sharing scheme,..

Preparatory works start for Cagayan Valley oil prospect
By Neil Jerome C. Morales (The Philippine Star) Updated February 18, 2012 12:00 AM Comments (0)

MANILA, Philippines - Preparatory works for a $5-million oil exploration project in Cagayan Valley is already under way, an official of the Department of Energy (DOE) said.

Stakeholders of Service Contract (SC) 52 are already conducting a flow test as part of the drilling works at the Nassiping-2 well, DOE Assistant Secretary Ramon Allan V. Oca said.

“They have reached the target depth and they are expected to start the flow test,” he said.

The exploratory drilling began on Feb. 8 and reached a depth target of 3,014.4 meters on Feb. 11.

The SC 52 consortium is composed of Australia’s Frontier Gasfields Pty. Ltd. which has a 30 percent stake, Frontier Oil Corp. (50 percent) and E.F. Durkee & Associates (20 percent).

The group expects a well flow test for the Nassiping-2 this weekend. The test will aid the firms in determining the well design and equipment needed to develop the oil and gas reserves in the area.

SC 52 covers 96,000 hectares in Piat-San Jose in northern Cagayan Valley. The Nassiping-2 is an existing well containing a previously discovered but untested gas discovery. It was drilled in 1984 and penetrated a substantial, gas-bearing limestone section but was not flow-tested.

“The well test duration will be dependent upon results,” Frontier Gasfields said.



Frontier Gasfields and locally listed Trans-Asia Oil and Energy Development Corp. earlier signed a farm-in option agreement for SC 52 wherein Trans-Asia has the option to acquire 10 percent of the block upon payment of an agreed amount.

http://www.philstar.com/Article.aspx...bCategoryId=66

Dapat bantayan to from all kinds of insurgents whoever they are!!

[manila2020]

Good morning Pilipinas!!

Start your Sunday with good news! At the end of each week, we are still thankful for all the blessings in our nation! Have a great day everyone!

Ayala Land to spend P10B for land acquisitions
http://www.abs-cbnnews.com/business/...d-acquisitions

Local stocks rally to new all-time high
http://www.abs-cbnnews.com/business/...-all-time-high

Removal from piracy watchlist sought
http://www.bworldonline.com/content....ought&id=46976

Shares hit fresh high, peso gains on US data and Greece bailout hopes
http://www.bworldonline.com/content....hopes&id=46977

Peso leads Asian currencies advance
http://www.businessmirror.com.ph/hom...encies-advance

US think-tank sees PH inflation easing
http://www.abs-cbnnews.com/business/...flation-easing

January 'hot money' at $586M
http://www.abs-cbnnews.com/business/...hot-money-586m

January investment pledges up 14.6%: BoI
http://www.bworldonline.com/content....:-BoI&id=46967

Infrastructure, e-tricycle projects up for NEDA Board okay
http://www.bworldonline.com/content....-okay&id=46909

Priority tourism ventures listed for C. Visayas
http://www.bworldonline.com/content....sayas&id=46908

System to craft local hotel occupancy data
http://www.bworldonline.com/content....-data&id=46907

Customs officer dismissed for dishonesty
http://www.bworldonline.com/content....nesty&id=46959

Improvement of monitoring, warning systems among Phivolcs priories in 2012
http://www.bworldonline.com/content....-2012&id=46960

Stocks hit all-time high again
http://www.bworldonline.com/content....again&id=46973

Chevrolet opens biggest PH dealership in Cebu
http://www.abs-cbnnews.com/business/...ealership-cebu

AFP modernization done in two years
http://www.philstar.com/Article.aspx...bCategoryId=63

Phl plans to open 2 consulates in Mexico
http://www.philstar.com/Article.aspx...bCategoryId=63

New 'sin tax' law to lift Phl credit rating - Barclays
http://www.philstar.com/Article.aspx...ticleId=778871

Gold Fields set to buy 60% stake in Lepanto proj
http://www.philstar.com/Article.aspx...ticleId=778872

DBS sees export rebound for Phl
http://www.philstar.com/Article.aspx...ticleId=778874

DOF scores victory vs erring BIR, BOC officials
http://www.philstar.com/Article.aspx...ticleId=778878

Filinvest giving malls P7-B facelift
http://business.inquirer.net/45239/f...-p7-b-facelift

Sun Life reports strong growth of business in Philippines
http://business.inquirer.net/45015/s...in-philippines

Travel firms call for reforms
http://business.inquirer.net/45235/t...ll-for-reforms

70% off on PAL tickets at Travel Expo
http://business.inquirer.net/44814/7...at-travel-expo

Gov't speeds up review of mining policy
http://www.philstar.com/Article.aspx...bCategoryId=66

Preparatory works start for Cagayan Valley oil prospect
http://www.philstar.com/Article.aspx...bCategoryId=66

Brillante Mendoza’s ‘Captive’, other contenders at Berlin film festival
http://entertainment.inquirer.net/30...-film-festival

Trans-Asia profit surges to P408M
http://www.philstar.com/Article.aspx...bCategoryId=66

EU Firms Eyeing Technology Transfer
http://www.mb.com.ph/articles/351826...ology-transfer

Airphil Express Expands Clark Hub
http://www.mb.com.ph/articles/351758...ands-clark-hub

Cebu Pacific Halves International Fares
http://www.mb.com.ph/articles/351667...national-fares

Aiming For Number One Globally
http://www.mb.com.ph/articles/351567...r-one-globally

P20M up for Batad rice terraces rehab
http://www.manilatimes.net/index.php...terraces-rehab

Japan grant helps PH digital mapping
http://www.manilatimes.net/index.php...igital-mapping

Philippines, Mexico Sign Bilateral Accords
http://www.mb.com.ph/articles/351793...ateral-accords

'Maharlika Filipino Moderno' named best new restaurant in US
http://www.gmanetwork.com/news/story...staurant-in-us

Secretary Paderanga to Japanese investors: Time to invest in PPP projects
http://www.gmanetwork.com/news/story...n-ppp-projects

PHL for first time to try to close illegal mines
http://www.gmanetwork.com/news/story...-illegal-mines

Indie films save PHL movie industry from piracy, decline
http://www.gmanetwork.com/news/story...piracy-decline

Philippine mall chain cashes in on China expansion
http://www.gmanetwork.com/news/story...hina-expansion

Emerging-Market Stocks Rise to 6-Month High on Signs U.S. Economy Growing
http://www.bloomberg.com/news/2012-0...-optimism.html

Philippine Peso Strengthens After Inflow Report; Bonds Advance
http://www.bloomberg.com/news/2012-0...s-advance.html

Art In The Park: The promise of an art community
http://www.gmanetwork.com/news/story...-art-community

Lion Air reopens Manila-Vigan flights
http://www.interaksyon.com/article/2...-vigan-flights

PH fortifies position in booming MRO market
http://www.interaksyon.com/article/2...ing-mro-market

[leofriends]

nice!! thanks!!!

[d7beast]

Originally Posted by KnightOfTheFlag

Dapat bantayan to from all kinds of insurgents whoever they are!!

,..At sa lahat ng mga bandido sa gobyerno!!!

[xyriellewest]

Projected 8 billion mobile devices by 2016 to exceed world population

MANILA, Philippines - In 2016 there will be more mobile devices in use than the actual number of people on earth.

This is according to the Cisco Visual Networking Index (VNI) Global Mobile Data Traffic Forecast for 2011 to 2016 which sees over eight billion mobile Internet-connected devices and additional two billion “machine-to-machine” (M2M) connections becoming available when the world’s population reaches 7.3 billion based on United Nations projection.

An offshoot of this would be a sharp surge in worldwide mobile data traffic reaching 10.8 exabytes per month – or an annual run rate of 130 exabytes – and eclipsing global fixed data traffic by three times, according to the study.

An exabyte is a unit of information or computer storage equal to one quintillionbyte. In a more quantifiable term, Cisco offered 130 exabytes to be the equivalent of 33 billion DVDs, 4.3 quadrillion MP3 files (music/audio) and 813 quadrillion short message service (SMS) text messages.

The mobile data traffic increase during the forecast period represents a compound annual growth rate (CAGR) of 78 percent and the incremental amount of traffic being added to the mobile Internet between 2015 and 2016 alone is approximately three times the estimated size of the entire mobile Internet in 2012, the study showed.

Demand for mobile cloud services will also grow by 28-fold during the forecast period as more consumers require on-demand or streamed content versus downloaded content.

Continue reading here...

[manila2020]

Enjoy Monday's QUICK READS everyone!

Think tank backs BSP policy changes
http://www.bworldonline.com/content....anges&id=47024

RESERVE REQUIREMENT (RR) changes implemented by the Bangko Sentral ng Pilipinas (BSP) are a “step in the right direction,” a think tank said, countering a debt watcher’s claim that it would weaken the credit standing of local banks.

‘Green’ ranking notes gains by the Philippines
http://www.bworldonline.com/content....pines&id=47022

THE PHILIPPINES has been rated a “strong performer” in terms of environmental performance, the Department of Environment and Natural Resources (DENR) said, placing 42nd in a biennial ranking of 132 countries.

Bulk of road maintenance fund released
http://www.bworldonline.com/content....eased&id=47018

BULK OF this year’s budget for road maintenance has been released to the Department of Public Works and Highways (DPWH), the Budget department said at the weekend.

Stocks breach 4,900-mark
http://www.bworldonline.com/content....-mark&id=47029

STOCKS ROSE after morning trading on Monday, breaching the 4,900 resistance and hitting a new all-time high.

Peso strengthens further
http://www.bworldonline.com/content....rther&id=47027

The peso began the week on even stronger footing.

Puregold eyes S&R retail chain
http://www.bworldonline.com/content....chain&id=47028

SUPERMARKET OPERATOR Puregold Price Club, Inc. is considering a merger with retail chain S&R Membership Shopping, a disclosure to the local bourse on Monday showed.

Pepsi Phils. starts P500-M CDO facility expansion
http://www.businessmirror.com.ph/hom...lity-expansion

PEPSI-COLA Products Philippines Inc, (PPCPI) has implemented a P500-million expansion project for its bottling plant in Cagayan de Oro (CDO) to firm up and significantly boost its market share in the southern Philippines.

PAL plans to start flights to Bali in March
http://www.businessmirror.com.ph/hom...-bali-in-march

FLAG carrier Airlines (PAL) expects to start servicing direct flights to Bali, Indonesia, its first new destination for the year.

Clark International Airport gets P1-billion Landbank loan for upgrade
http://www.philstar.com/Article.aspx...ticleId=779250

With the name of former President Diosdado Macapagal now relegated only to the passenger terminal, the rechristened Clark International Airport (CIA) here will get a P1 billion loan from the Land Bank of the Philippines (LBP) for upgrading works.

Bacavalley lines up $430-million renewable energy projects
http://www.philstar.com/Article.aspx...ticleId=779246

Bacavalley Energy Inc., a local firm that wants to be the largest renewable energy company in the country, will engage in several projects worth more than $430 million starting this year.

Stocks seen to keep rising
http://www.philstar.com/Article.aspx...ticleId=779240

Local stocks are expected to sustain their upward momentum this week amid rising confidence that Greece’s complex bailout plan could be decided soon.

Export figures seen to improve this year
http://www.philstar.com/Article.aspx...ticleId=779238

The country’s export performance is likely to improve this year despite weak global demand as the industry seeks alternative markets for Philippine-made products, Socioeconomic Planning Secretary Cayetano Paderanga Jr. said over the weekend.

DOF's RIPS sues Porsche-driving BOC 'messenger'
http://www.philstar.com/nation/artic...ticleId=779461

The Department of Finance (DOF) has filed charges against customs clerk Paulino Elevado, who was accused of shooting at and attacking two teenagers after a traffic altercation along the South Luzon Expressway last month.

LGUs told to install rainwater collectors
http://www.philstar.com/nation/artic...ticleId=779459

Local Government Secretary Jesse Robredo called on all chief executives, especially those in low-lying areas, to construct rainwater collectors in their respective development action plans.

Enactment of revenue bills pressed
http://www.bworldonline.com/content....essed&id=47019

THE DEPARTMENT of Finance has reiterated its plans for two priority revenue measures this year.

All Eyes On The ASEAN
http://www.mb.com.ph/articles/351943...s-on-the-asean

While Filipinos generally cluck their tongues and shake their heads about the economy, employment, and growth prospects in general, foreign investors continue to set their sights on our country.

Aquino Gov't Sets P5-Trillion Investments Target In 6 Years
http://www.mb.com.ph/articles/351925...get-in-6-years

The Aquino administration has set P5.15 trillion investments target within its six-year (2011-2016) term with the government’s 13 investment promotion agencies (IPAs) enhancing their marketing programs to attract more foreign capital into the country.

North Harbor Gets P570-M Facelift
http://www.mb.com.ph/articles/351927...p570m-facelift

Manila North Harbor Port Inc. (MNHPI), a joint venture of businessman Reghis Romero II’s Harbour Centre Port Terminal Inc. and Petron Corp., is investing P570 million for the modernization of north harbor, the first concession agreement for domestic trade entered into by the Philippine Port Authority (PPA).

Scottish Firm To Launch 2nd-Generation Tidal Power Technology Here
http://www.mb.com.ph/articles/351938...echnology-here

Scotland-based firm Nautricity will be introducing in the Philippines its second generation technology which will harness tidal resource for the generation of electricity.

Reorganization Of BoI, PEZA Pushed
http://www.mb.com.ph/articles/351924...oi-peza-pushed

The Department of Finance (DoF) said yesterday that it wants to rationalize the government’s two incentive granting bodies to eradicate their “built in conflict.”

NEDA Sees Robust Manufacturing Growth
http://www.mb.com.ph/articles/351926...cturing-growth

Socio-economic Planning Sec. Cayetano W. Paderama Jr. is expecting a significant growth for the manufacturing, food and electronic sectors in the second half of 2012 as election spending starts providing an impetus up to the 2013 elections.

Japan happy with JPEPA implementation, says envoy
http://globalnation.inquirer.net/263...ion-says-envoy

Japan is very pleased with the economic fruits of the Japan-Philippines Economic Partnership Agreement (JPEPA), which has made “significant strides” since it came into force in 2008, according to the Japanese Embassy in Pasay City.

Naia hikes income, begins rehab
http://globalnation.inquirer.net/262...e-begins-rehab

The Ninoy Aquino International Airport (Naia) has yet to be dropped from the list of the world’s worst airports.
But that has not stopped officials of the Manila International Airport Authority (Miaa), the Department of Transportation and Communications-attached agency that operates Naia’s four terminals, from grinning ear to ear these days.

Seafoods firm considering 2 more offshore acquisitions
http://business.inquirer.net/45401/s...e-acquisitions

Fish processing firm Alliance Select Foods International is studying two new potential offshore acquisitions, one in North America and another in South Pacific, in line with its bid to become a key regional seafoods producer.

DFA brings mobile e-passport processing to Ifugao, Ilocos Norte, Catanduanes
http://technology.inquirer.net/8463/...e-catanduanes/

After Batanes, the country’s northernmost province, the Department of Foreign Affairs (DFA) has dispatched its mobile e-passport processing, or consular outreach teams to Ifugao in the Cordillera Administrative Region, Ilocos Norte and Catanduanes in the Bicol region.

[watcher09]

Thanks. I enjoyed reading.

[leofriends]

thanks.. i apreciate your posts... keep it up...

[manila2020]

Originally Posted by watcher09

Thanks. I enjoyed reading.

Originally Posted by leofriends

thanks.. i apreciate your posts... keep it up...

Thank you guys!! Keeping the good vibes around! =)

[manila2020]

A balanced view of the Philippines, presenting the good, the bad, and the opportunities that are ahead.

Philippines tries new tack: healthy man of Asia
By Rosemarie Francisco and Jason Szep
MANILA | Mon Feb 20, 2012 6:39am EST

(Reuters) - It is getting busy in Cristino Naguiat's spacious 5th-floor office overlooking Manila Bay.

The chairman of gambling regulator Philippine Amusement & Gaming Corp is fielding calls and booking appointments to meet possible investors in a sprawling gambling and entertainment project his government hopes will rival Las Vegas in five years.

Among them: Casino billionaire Francis Lui of Galaxy Entertainment Group Ltd and executives from Melco Crown Entertainment Ltd, controlled by Australian billionaire James Packer and the son of Macau gambling mogul Stanley Ho.

"There is growing interest. The fact that in just two weeks I have had two visitors from big companies in Macau says something about it," said Naguiat, a veteran of the gaming industry.

READ MORE: http://www.reuters.com/article/2012/...81J0I820120220

[InfinitiFX45]

After lean 2011, bright economic forecast and rosy signs for '12

by Earl Victor Rosero/LBG/HS | GMA News | Sunday | February 19, 2012 | 12:23pm

Economic planners of the Aquino administration are sticking to their merchandise exports forecast of 10 percent this year, despite their failure to meet their 2011 projection, National Economic and Development Authority Director-General Cayetano Paderanga Jr. said Sunday in a statement.

The NEDA chief did not give specifics on what the Aquino administration will do in the short term to attain the $62.3 billion goal – an uphill climb from $47.9 billion last year. He reiterated an oft-repeated remark about “diversification strategies... to minimize the country's vulnerability to adverse shocks, both external and domestic.”


Historical data on Philippine exports show 2009 and 2011 as decline years. From the dip in 2009, the exports sector recovered in 2010. Economic planners are hoping for a similarly strong performance in 2012.

Meanwhile, the Wall Street Journal painted this weekend a rosy picture of early 2012. "Investors appear to be responding positively" to Aquino's anti-corruption campaign, according to the newspaper's correspondent James Hookway, highlighting in particular the charges brought against ex-President Gloria Arroyo and the impeachment trial of Chief Justice Renato Corona.

The Journal reported that the Philippines in January sold $1.5 billion in US-denominated bonds "at a yield comparable with those of European countries such as Spain and Italy."

"International financial markets are reassessing the Philippines' place in the global pecking order as concerns over Europe's financial health increase," Hookway wrote.

Recovery from 2011

That is welcome news after the doldrums of 2011. The National Statistics Office (NSO) said last Feb. 10 that goods exports fell “20.7 percent to US$3.3 billion in December 2011 compared to the previous year, with full-year earnings for 2011 contracting by 6.9 percent.”

NEDA chief Paderanga said the export sector is still expected to earn $62.3 billion this year but there could be “significant downside risks to projections, associated with the weak global demand resulting from slower growth in advanced economies and other major markets such as the Peoples Republic of China and ASEAN..."

He chose to take a medium-term view that stresses “trade logistics, business and policy environment, labor productivity, the link between exporters and micro, small and medium enterprises, research and development, and technology in order to move up the value chain and enhance the competitiveness of the export sector."

Paderanga said contract manufacturers of electronics exports “could continue to experience weak growth in 2012.” This sub-sector is responsible for more than 50 percent of merchandise goods shipped out to the rest of the world. The value of outbound electronics shipments plunged nearly 24 percent to $23.72 billion in 2011.

"Industry reports noted that contract manufacturing business, which is composed of electronic manufacturing services and original development manufacturing, is anticipated to decline slightly worldwide in 2012. It was also reported that total contract manufacturing revenue will decline by approximately one percent (or US$3 billion) from US$360 billion in 2011," said Paderanga.

Exporters see growth areas

Philippine Export Confederation (Philexport) president Sergio Ortiz-Luis Jr. points to non-electronics exports and the markets of Japan, China and the United States as the “good news” sectors.

Ortiz-Luis stressed in a recent message to his Philexport colleagues that “our non-electronics products are now performing” as evidence by the “minimal” decline in total exports compared to the plunge in electronics exports.

He specifically noted the growth in earnings of exporters of automotive electronics, fruits and vegetables, furniture, basketwork, and garments.

As to markets, Ortiz-Luis said, “Japan gave indications of recovery” followed by the United States and China.

Japan, China, Thailand and Taiwan were the Philippines' top export markets that took in more merchandise shipments from Filipino producers in 2011. Presented are the export growth rates in 2011.


Historical data on Philippine exports show 2009 and 2011 as decline years. From the dip in 2009, the exports sector recovered in 2010. Economic planners are hoping for a similarly strong performance in 2012.

Data of the NSO support the Philexport president’s observations. Among the highest growth rates in agro-based product exports in 2011 were:
• Coconut oil - $1.78 billion
• Centrifugal and refined sugar - $354.3 million
• Fruits and vegetables - $978.5 million
• Shrimps and prawns - $367.58 million

Other sectors also chipped in last year to make up for the decline in electronics exports:
• Garments - $1.89 billion
• Wood manufactures - $1.68 billion
• Chemicals - $1.89 billion
• Processed food and beverages - $1.03 billion
• Copper metal - $1.13 billion
• Gold - $214.39 million

Japan, Taiwan, Thailand and China were among the country's top 10 markets and all four posted significant increases in export growth rates while other markets in the top 10 recorded declines.

Source: http://www.gmanetwork.com/news/story...on_banner_full

[InfinitiFX45]

Philippine stocks soar to all-time high for second day in a row

by VICTOR D. SOLLORANO | GMA News | Monday | February 20, 2012 | 5:12pm

Philippine stocks soared to all-time high levels for the second successive trading day Monday, buoyed by positive sentiment over first quarter earnings and a new €230-billion bailout package for Greece.

The main PSE index rose by 63.13 or 1.29 percent to finish at an all-time high 4,943.84, the second trading day in a row since Friday that the PSEi touched all-time high territory.

More than 13.352 billion shares valued at P10.576 billion changed hands during Monday’s morning and afternoon sessions.

Advancers led decliners 105 to 63, while 41 issues closed unchanged.

The bailout package for Greece and the positive sentiment among investors toward first quarter earnings of Philippine companies are giving the market a boost, said Freya Natividad, head of research at F. Yap Securities Inc.

Markets across Asia got an added boost from China’s move over the weekend to lower the reserve requirement ratio.

“Asian shares rose Monday, driven by a Chinese move at the weekend to loosen lending and hopes that debt-ridden Greece's bailout will at last be finalized,” according to a report by Agence France-Presse.

“The across-the-board rises came after China's central bank said Saturday it would cut commercial banks' reserve requirement ratio by 0.50 percentage points to ease restrictions on lending and boost its slowing economic growth,” the report added.

However, Natividad said the Philippines was the first to enforce a new round of monetary easing when the Bangko Sentral on Jan. 19 lowered the policy rates by 25 basis points and reduced the reserve requirement ratio to 18 percent from 21 percent starting April 6, 2012.

The move created additional liquidity that is already factored in by the market, F. Yap’s Natividad noted.

Investors were also watching a Eurozone finance ministers meeting due in Brussels later Monday to try to close a new €230-billion ($300 billion) bailout package for Greece and avert a chaotic default, according to Agence France-Presse.

After several false starts during weeks of difficult negotiations, the ministers will seek to approve terms on an exchange of bonds held by private investors, the launch of which is penciled in for Wednesday, the French news agency noted.

The move is designed to write off €100 billion of Greek sovereign debt, and would see eurozone governments inject another €130 billion in sweeteners for Greek banks, guarantees covering the weeks-long legal bond-swap window and eventual cash loans to the government in Athens, it added.

"Greece headline risks remain, but today's Eurogroup meeting should clear uncertainty about the implementation of the second bailout package," Agence France-Presse reported, citing a note from Credit Agricole.

“If the momentum is sustained” by Tuesday, the market will try to break the 5,000 resistance area, Natividad noted.

What may break the momentum is the President’s Day, a Federal holiday in the United States, with some institutional fund managers going on leave, Natividad added.

President’s Day, which used to fall on American President George Washington’s birthday on Feb. 22, is celebrated every third Monday of February. — With Agence France-Presse/GMA News

Source: http://www.gmanetwork.com/news/story...d-day-in-a-row

[InfinitiFX45]

PH As Emerging Healthcare Force

Number Don't Lie

by ANDREW JAMES MASIGAN | Manila Bulletin | Monday | February 20, 2012 | 1:44am

MANILA, Philippines — Exciting things are afoot in the medical industry. In the heart of Quezon City will evolve a medical belt like no other in Asia. An integrated chain of medical institutions, each specializing in a specific field of discipline. From general medicine to cardiology, from Nephrology, Pediatrics and Pulmonology.

The vision that started some 30 years ago will now come to fruition, thanks to the headstrong determination of DOH Secretary Enrique Ona and his chief coordinating officer, Dr. Nestor F. Venida. The initial phase of the plan is to integrate the Philippine Heart Center, National Kidney Institute, Lung Center of the Philippines, Philippine Children’s Hospital and the East Avenue Medical Center. These institutions put together make the Philippines a regional force to be reckoned with in as far as depth and extent of medical services are concerned. No other country in the region offers medical facilities of this scale in one connected belt.

Subsequently, the plan is to fold in the Philippine Hematology Center, the National Brain and Nerve Institute (the first medical institution to be built under the PPP scheme) and the National Orthopedic Hospital. The latter is to be relocated from its current site to Quezon City’s medical belt as well. All these will make the Philippines even more competitive on a global scale.

When completed, the medical belt is said to be branded “The Philippine Center for Specialized Healthcare.” The fact that the DOH even talks about branding alludes to its direction to “sell” it as a hub for medical tourism.

Read More: http://www.mb.com.ph/articles/351944...althcare-force

[InfinitiFX45]

Remittances From Sailors Top $4B

Manila Bulletin | Monday | February 20, 2012 | 3:40pm

MANILA, Philippines — Filipino sailors aboard foreign merchant ships sent home via bank wire a record $4.340 billion in 2011, an increase of $534 million or 14 percent versus the $3.806 billion they remitted in 2010, the Trade Union Congress of the Philippines (TUCP) said.

Remittances from seafarers advanced nearly three times faster compared to the cash inflows from land-based migrant Filipino workers in 2011, according to TUCP president and former Sen. Ernesto Herrera.

“The remittance growth was due to increased deployment, coupled with the dollar’s decline,” said Herrera, former chairman of the Senate committee on labor, employment and human resources development.

Herrera said the US currency’s depreciation meant that every dollar sent home by sailors produced fewer pesos.

“Sailors had to send more dollars to their families here just to provide them the same amount of pesos they were receiving the prior year for living expenses,” he pointed out.

Based on Bangko Sentral ng Piliinas (BSP) data, the peso averaged 43.31 to a dollar in 2011 compared to 45.11 in 2010. Thus, every dollar yielded 4.15 percent less pesos last year. The peso closed Friday at 42.61 to a dollar.

TUCP has been pushing for the foreign deployment of sailors, nurses and other surplus skilled workers.

“The advantage of skilled staff is that they enjoy superior conditions of employment. Because their skills cannot be easily replaced, they tend to be treated well by employers, unlike domestic helpers,” Herrera said

The Philippines has been the world’s chief supplier of sailors since 1987. Some 375,000 Filipinos comprise one-fourth of the estimated 1.5 million merchant mariners worldwide.

The top 10 sources of remittances from Filipino sailors in 2011 were:
United States ($2.437 billion)
Norway ($294.076 million)
United Kingdom ($285.754 million)
Japan ($268.414 million)
Germany ($211.916 million)
Greece ($192.527 million)
Singapore ($175.312 million)
Hong Kong ($72.341 million)
Cyprus ($53.294 million)
Netherlands ($44.889 million).

The $534-million jump in remittances from sailors accounted for 40 percent of the cumulative increase in cash transfers from all Filipino workers abroad, based both on land and sea, last year.

Source: http://www.mb.com.ph/articles/351968...sailors-top-4b

[InfinitiFX45]

ASIA CREDIT CLOSE-China reserve ratio cut boosts Hong Kong deals

by Jonathan Rogers | Reuters | Monday | Feb 20, 2012 | 4:20am EST

SINGAPORE, February 20 (IFR) - Asian credit markets are closing out the session in solid shape, with the recent avalanche of Hong Kong deals between 5bp-12bp tighter on the back of the weekend cut in bank reserve requirements from the PBOC, and investment grade and China property around 3bp-5bp tighter and a point higher respectively.

Eyes remain on the approval of the Greek austerity package and a deal with private debt holders which is likely to come in at a 70% haircut. The room for eurozone shocks remains and players are eyeing today's positive Asian price action with extreme caution.

Although fund flows slowed their pace in the week to February 15, foreign investors bought USD768m of EM bonds over the period, still a strong number but weaker than the record USD1.9bn of flow reported the week before according to data from HSBC.

The flows are pushing down yields in Asian government bond markets amid fears that a hot money bubble is developing in govvie bond markets in Indonesia, Korea and China.The iTraxx series 16 closed out 3bp tighter at 161bp bid, while single name liquid CDS is between 2bp to 4bp tighter.

Leading the way were the Philippines and Indonesia, with 4bp tightening at 155bp and 160bp respectively. China pulled in 3bp to 119bp while Hutch and Thailand were 2bp tighter each at 137bp and 154bp.

Read More: http://www.reuters.com/article/2012/...8DK29A20120220