The Philippine Economy

[crappypants]

it's not growing fast enough though, just kind of muddling along.
they need to send more scholars to study abroad like what other ASian countries are doing.
Regardless i don't think noynoy will figure it out.

[Askal82]

Originally Posted by RonnieR

There were endless debates before about R&D, BPO , KPO and I don't want to repeat that. What is important is we're moving forward and growing. Foreign investments esp. in manufacturing industry cannot be denied as evidenced by the positive effect on GDP and its contribution to country's economy, lowering of unemployment and reducing poverty.

Like I said, it's not really balanced in a consumption led economy that doesn't have solid industries to speak of from the eyes of the powerful international institutions where the country is in chains with its debts.

[crappypants]

they need to remove abs-cbn , wawawee, kris aquino all those institutions and personalities who exploit poor filipinos. Imagine putting a bunch of poor folks on tv and telling their sob stories for the whole world to see. Is that teaching them to beg on public tv? IS that really worthy tv? What kind of message is Citizen Pinoy sending to televiewers worldwide to pinoys and nonpinoys alike? Filipinos are so eager to become citizens of another country that they invented a show for it.

[RonnieR]

Tell that to Noynoy....he should know .



Porsche majeure

By Botchi Santos
Philippine Daily Inquirer
First Posted 21:58:00 06/01/2010

Filed Under: Economy and Business and Finance

PGA CARS-Porsche, the exclusive distributor of Porsche vehicles in the Philippines, will proudly unveil on Thursday the second generation Cayenne Sport Utility Vehicle. It will initially be available in three models: the base V6 sporting 300hp, the V8-powered S variant packing 400hp and the range-topping Turbo with a monstrous 500hp on tap.

Porsche has worked hard to alleviate the harsh criticism levied by pundits in the past: the awkward looks, the sheer weight of the Cayenne and increased fuel efficiency in a world more environmentally conscious than ever.

The new Cayenne looks cleaner, more suave, without trying too hard to resemble its 911 sports car siblings: the snout has a more agreeable face with futuristic looking multi-projector headlamps, available with bi-xenon high-intensity discharge lamps, three gaping intakes to feed cold air to the engine and the various heat exchangers and the new fashionable LED lights park lights popularized by German manufacturers on either end of the front bumper. The rear has new angular taillights to give the Cayenne an edgier, more modern feel.

Inside, the opulent interior has been made to more closely resemble the Panamera 4-door coupe, with almost every surface covered in premium leather, littered with your choice of accents ranging from wood, aluminum and carbon-fiber. A large multi-function display dominates the center console that displays vehicle parameters such as suspension and engine management settings, DVD-satellite navigation for foreign markets, the climate control system and a premium multi-speaker surround sound system.

The previous Cayenne, despite its sporting credentials, weighed in at a colossal 2,250 kilograms for the Turbo variant. The new Turbo, used as a comparison, weighs in at a significantly lighter 2,065 kilograms, 185 kilograms, or 440lbs less than the previous model. Thanks to efficient use of lightweight aluminum, magnesium and high-tensile strength steel alloys, the new Cayenne is bigger, particularly the wheelbase, offering more usable interior space, yet weighs less, and more importantly for a Porsche, performs better while still maintaining excellent crash-test results in safety and integrity.

The new engines feature gasoline direct injection, with much work going into reducing internal friction losses, mated to a sophisticated active all-wheel drive control system with 8-forward speeds made, delivering a useful 5-10 percent increase in power, yet reducing fuel consumption by as much as 20 percent on certain Cayenne variants. All models, including the Turbo variant, can equal 10km to the liter as per independent tests conducted by Porsche, and certified and recognized by the German Government. The new Cayenne is also more environmentally friendly. With cleaner exhaust tail-pipe emissions and on the three V6 variants, offer a surprisingly low sub 200 grams per kilometer of CO2 emissions.

The lightweight construction, more efficient engines and the 8-speed automatic transmission with active AWD improves efficiency and performance, but Porsche saw fit to include other fuel-saving systems to further improve the Cayenne. A start-stop function for the engine is available, shutting down the engine after 1-second while the brake pedal is engaged and the transmission in neutral, then activating immediately once the brake pedal is depressed. A sailing function also cuts fuel injection into the engine, such as when the Cayenne driver is decelerating or coasting at high speeds, up to 156 kilometers per hour on the highway. Clearly these innovations show Porsche engineers’ ingenuity in eking out every last bit of savings and efficiency out of the revised powerplants.

All safety features such as multiple airbags, ABS-EBD brakes with cornering brake control, Porsche Stability Management (PSM) and Porsche Active Suspension Management (PASM) come as standard especially on Cayennes with the excellent air suspension system. Hill-climb and hill descent control is also fitted as standard should you opt to go off-roading in your multimillion peso-SUV.

Says PGA Cars Executive Director Robert Coyuito III, “PGA Cars is excited at the launch of the new Cayenne. The outgoing model was a tremendous success for PGA Cars and Porsche, exceeding our initial expectations. It helped us welcome a whole raft of customers new to the brand and the overall ownership experience of a Porsche and PGA Cars. We believe that the new Cayenne will further allow more discerning drivers to finally join the bandwagon started by Dr. Porsche over 60 years ago of intelligent, efficient and innovative performance.”

The Cayenne has been a runaway success since its introduction in 2003, accounting for more than half of all serial Porsche production globally. The Cayenne helped secure the tiny German firm’s financial health and stability, leading to a meteoric rise in the car manufacturing industry and the global financial markets. In certain developing countries such as China, almost all Porsche vehicles sold there are the Cayenne.

No official word yet on the local availability of the diesel and hybrid variants, but a diesel Porsche would surely increase the range of potential clients new to the brand but frown at paying exorbitant gasoline bills regularly.

Prices have yet to be finalized as of press time but Coyuito III says that the new Porsche Cayenne will only be marginally more expensive, mostly due to improvements in the basic specifications the local market will be getting.

For more information, schedule a test drive at PGA Cars via telephone number 724-0948 to schedule a test drive, or visit the PGA Cars-Porsche showroom at 201 EDSA, Mandaluyong City, Metro Manila.

The author is also the Consumer Editor of Top Gear Magazine

[crappypants]

I would tell NoyNoy to step down.

[crappypants]

Remove Kris Aquino, Wowowee, Abs-cbn
and Phils will instantly be rich. they epitomize the things that hold PHils back.

[RonnieR]

di pa nga nakaupo eh.

[Manila-X]

Originally Posted by crappypants

they need to remove abs-cbn , wawawee, kris aquino all those institutions and personalities who exploit poor filipinos. Imagine putting a bunch of poor folks on tv and telling their sob stories for the whole world to see. Is that teaching them to beg on public tv? IS that really worthy tv? What kind of message is Citizen Pinoy sending to televiewers worldwide to pinoys and nonpinoys alike? Filipinos are so eager to become citizens of another country that they invented a show for it.

Ironically Kris Aquino shows off her material wealth as well to the general viewers!

[RonnieR]

JICA offers $700-M fresh aid to RP

By Ronnel Domingo
Philippine Daily Inquirer
First Posted 14:50:00 06/02/2010

Filed Under: business, Foreign Aid, Diplomacy, Foreign affairs & international relations

MANILA, Philippines – The Japan International Cooperation agency has renewed its offer to provide at least $700 million in aid to the Philippines in 2010, according to the National Economic and Development Authority.

JICA is currently drawing up new strategies for Southeast Asia and individual countries in the region

RP stocks firm up ahead of Aquino proclamation Aquino will be proclaimed earlier than schedule....thus the positive reaction in the market.

By Doris Dumlao
Philippine Daily Inquirer
First Posted 14:47:00 06/02/2010

Filed Under: business, Stock Activity, Markets & Exchanges

MANILA, Philippines – Local stocks firmed up Wednesday, defying a weak global investor sentiment, as offshore investors scouted for bargains ahead of an expected proclamation of a new Philippine president.

The main-share Philippine Stock Exchange index gained 22.94 points or 0.7 percent to close at 3,289.56.

The market was supported by the financial, mining/oil and holding firms whose counters surged by 2.19 percent, 1.98 percent and 1.6 percent.

There were 56 gainers as against 40 decliners and 62 unchanged stocks. Value turnover of P3.7 billion was within the daily average.

Dealers said despite the weak global backdrop, the market was supported by foreign buying in turn driven by optimism on the incoming new administration.

"They like Noynoy," said Joseph Roxas, president of local brokerage Eagle Equities Inc., referring to the upcoming proclamation of President apparent Benigno Aquino III.

Among the stocks that benefited from bargain-hunting during the day were Banco de Oro Unibank Inc., Ayala Land Inc., SM Investments Corp., Aboitiz Power Corp., Metropolitan Bank & Trust Co., JG Summit Holdings Inc. and Bank of the Philippine Islands.

On the other hand, there was profit-taking on Ayala Corp., Philippine Long Distance Telephone Co., Robinsons Land Corp., Globe Telecom, Alliance Global Group Inc., Metro Pacific Investments Corp., SM Prime Holdings Inc. and International Container Terminal Services Inc.

Overnight, trading in Wall Street was gloomy as energy stocks tumbled on BP Plc's failure to plug an oil leak while risk aversion intensified on reports that Lebanon had fired on Israeli warplanes. These added to lingering concerns that Europe's debt crisis may curb global economic recovery and that China may put the brakes on economic expansion.

The US Dow Jones Industrial index lost 112.61 points or 1.1 percent, to 10,024.02 while the Standard & Poor’s 500 Index also slipped by 1.7 percent to 1,070.71.

[RonnieR]

Originally Posted by WANCH

Ironically Kris Aquino shows off her material wealth as well to the general viewers!

...and so with other celebrities. They flaunt their bags worth millions or hundreds of thousands of pesos.

I am NOT defending Kris here. These people love to flaunt their wealth....yachts, luxury cars, big condos/houses, etc.

[jpdm]

Originally Posted by Askal82

Knowing that the economy grew by that much with so much debt and with the lack of well-grounded, solid industries or much-needed direct investments in a consumption-led economy, the IMF and the World Bank already knew that this kind of economic miracle (due mostly to remittances and services) is really superficial at most and can fizzle anytime soon.

Agree. This is want Im been pointing out since I joined SSC. We have to focus on basic industries first that is dependent on domestic demand and not on foreign demand. Foreign market fluctuates and foreign buyers can easily give up Philippine exports.

But not our domestic market that as of now is fed by massive importation.

Imagine if we can fill up the domestic demand by locally made products, imagine the tremendous benefits accrued to our country.

Same goes with OFW remittances, time will come, foreign countries will stop hiring foreign workers and will just hire locals because of their need to save their economy. Im not going to speculate about what is happening in Europe now, but news today says the Eastern European countries (including Greece) are feeling the financial problem that hit Greece and other countries.


We should not rely on services sector largely dependent on our agricultural and industrial sector and yes on foreign demand and OFW remittances.

[wino]

Originally Posted by jpdm

Yes, kasi nasa northern territories ka ng Canada. laging walang totoong sikat ng araw at puro midnight sun lang..LOL.

Seriously, I suggest you look at ther sources of info also.

engot it's summer already.. 10 pm na dito maliwanag pa.. kaya im full of enlightenment! :P

[aranetacoliseum]

PEZA investments up 68% in Jan-May

abs-cbnNEWS.com
Posted at 06/02/2010 7:29 PM | Updated as of 06/02/2010 9:28 PM

MANILA, Philippines - Investments registered with the Philippine Economic Zone Authority (PEZA) rose 67.79% to P46.35 billion in the first 5 months of the year, versus P27.62 billion in the same period last year.

Given the strong growth, PEZA director-general Lilia de Lima said they will raise their full-year growth target, originally set at 15%, next week.

Investments in January to May are expected to generate $2.1 billion in exports, an increase of 84% from the $1.14 billion generated last year.

De Lima said most of the investments are in electronics but did not disclose details.

Some 33,640 new jobs will be created because of these, 11.7% more than the 30,113 jobs that last year's investments were supposed to have created.

[aranetacoliseum]

International passenger traffic flow to RP up 11.6% in Q1

abs-cbnNEWS.com
Posted at 06/02/2010 6:53 PM | Updated as of 06/02/2010 9:36 PM

MANILA, Philippines - International passenger traffic flow to the Philippines in the first quarter grew by 11.6% from a year ago, raising hopes that the airline and tourism industries will start recovering from the global economic crisis.

Data released by the Civil Aeronautics Board (CAB) on Wednesday showed total passenger traffic of about 3.441 million by end-March this year, compared to 3.1 million recorded in the same period last year. CAB said passenger traffic grew even as some airlines are imposing higher fuel surcharges.

Of the total, 1.6 million comprised incoming passengers, while 1.9 million were outbound passengers.

The airline regulator said that of the 44 airline carriers with authority to operate in the country, only 36 airlines operated during the period.

The CAB said Air Nauru and Vietnam Airlines ceased flying to the Philippines in 2001. British Airways also stopped flying to the Philippines in 2002. Airlines Swissair, Egyptair, Air France and P.T. Bouraq stopped in 2004. Germany's Lufthansa Airlines ceased operations in April 2008.

The country's flag carrier Philippine Airlines (PAL) registered the highest number of international passenger flown with 942,144.

The Lucio Tan-owned airline recorded incoming passengers at 450,364, while its outgoing passengers reached 491,780.

Cebu Pacific, the airline unit of local conglomerate JG Summit Holdings, carried 482,114 international passengers, of which incoming passengers stood at 227,348 and 254,766 comprised outbound passengers.

Zest Airways, owned by businessman Alfredo Yao recorded 15,283 passengers, while Spirit de Manila had 2,747.

[kalbongdad]

ano ba itong mga news item na ito puro positive.......nakakapangilabot naman ito....siguro dahil yan sa na elect si noynoy.....wala yan kinalaman si gloria
siguro pang nakaupo na sa trono si noynoy kahit wlang gawin....lalago ang bansa..... kasi aquino ang presidente...

[wino]

Originally Posted by bitoy

Do you need to keep on name-callings to prove that you know better than them?

I don't need to give you any lectures on this since you could not even prove your point on what that growth is all about.

But so far, the local and foreign investors are getting a better outlook on what they will be facing in the next 6 years.

thanks, coz i really don't need your unsolicited lectures.

and yes, i am starting to love calling noynoy an imbecile.

[higen]

Originally Posted by wino

and yes, i am starting to love calling noynoy an imbecile.

I much prefer "incompetent moron" myself. One word just doesn't seem enough for me at the moment. But I'm still hoping that during the course of his presidency that he would eventually graduate to just being a "moron". I certainly hope that's just not wishful thinking on my part.

Kainis noh?

[bitoy]

Originally Posted by wino

thanks, coz i really don't need your unsolicited lectures.

and yes, i am starting to love calling noynoy an imbecile.

Originally Posted by higen

I much prefer "incompetent moron" myself. One word just doesn't seem enough for me at the moment. But I'm still hoping that during the course of his presidency that he would eventually graduate to just being a "moron". I certainly hope that's just not wishful thinking on my part.

Kainis noh?

Ganyan ba talaga pag natalo ang kandidato niyo? Buti hindi kayo pinaghahainan dito ng amplaya.

Maniniwala ako sa mga tawag niyo kay Noynoy if you can prove that you are a lot better than him, kaso hindi eh.

With all the good news and positive investments from foreign countries, you can still badmouth Noynoy for 6 years.

[shadow_can2003]

Dapat suportahan nalang kasi kung sino ang nasa posisyon para wala ng gulo. Kaya tayo di umuunlad kasi walang gustong magpatalo lahat gusto sila ang bida.

[le Reine]

Oo nga. Nagsisimula pa nga lang binabagsak na agad. Ang hirap kasi maraming nagmamagaling (di naman magaling).