The Philippines’ “investment grade” is now undisputed, but authorities still face the challenge of getting the government’s finances in order, Moody’s Investor Service said in a new report. In its credit analysis on the Philippines, the rating agency said despite recent improvements, government revenues as a proportion to the size of the economy was still well below that of most economies with investment grade distinction. “A continued weakness in the Philippines’ fiscal strength is its revenue generation,” Moody’s said in a report released this week. Data released earlier this year showed the government’s revenues relative to gross domestic product (GDP) improved to 15.6 percent in the middle of 2014 from 15.3 percent the year before. Tax revenues also inched up to 13.7 percent. For the whole of 2014, the government is targeting a tax-to-GDP ratio of 14.7 percent and a revenue to GDP ratio of 15.7 percent. Partly in recognition of the government’s improving revenues, Moody’s upgraded the Philippines government’s sovereign credit rating to Baa2 or two notches above the “junk” status that the country had just two years past. Standard & Poor’s gave the country a similar rating earlier in the year, while Fitch Ratings still has the Philippines at its minimum investment grade. Despite rising revenues, the government still lags behind neighbors in the region. Thailand, which is similarly rated as the Philippines, had a tax to GDP ratio of 16.5 percent in 2012. Malaysia, which is rated higher than the Philippines, collected taxes equivalent to 16.1 percent Read More …
HAZEL Stuart with her dog Cushi PHOTO COURTESY OF ROBERT HARLAND BACOLOD CITY, Philippines—Puti ang balat, pero Pinoy ang puso (My skin is white but my heart is Filipino).” The message is written on the shirt that British television documentary filmmaker Hazel Andrea-Stuart often wears. And that’s exactly what she is. Hazel has dedicated her life to making documentaries that feature the Philippines’ wonders, as well as its culture and exceptional people. On Sept. 19, she launched her 75th film on the Philippines, “The Christmas Spirit 24/7,” at L’Fisher Hotel in Bacolod City. The film is about the many unsung heroes in the Philippines who demonstrate the true Christmas spirit of giving not just at Christmastime. With music provided by Jose Mari Chan and his family, it features the generous hearts of people like American pastor Joseph Rosmarino, who runs Calvary Home with his wife, Billie, in Barangay Handumanan in Bacolod. The home cares for more than 150 children because, according to Rosmarino, “no child is ever turned away.” American pastor Todd Caplinger and his wife, Catherine, run a mission and church in Salvador Benedicto town, Negros Occidental province, which help indigents through livelihood projects. Also in the film are Chan’s sister, Maria Theresa, and her son, Micco, who are behind One Meal Program, a nonprofit organization that provides underprivileged schoolchildren with such basic needs as repairing classrooms, constructing school buildings and distributing school supplies. The organization also conducts feeding programs for kindergarten and Grade 1 pupils. Hazel dedicated her Read More …
NAIA terminal 3. FILE PHOTO MANILA, Philippines–Rebook, cancel or simply go with the flow? A Manila International Airport Authority (MIAA) official on Thursday laid out these options to passengers who have scheduled departing flights in the country’s main airport on the arrival and departure dates of Pope Francis next year. Alvin Candelaria, officer in charge of the airport operations unit of MIAA, made the suggestion following the announcement of the closure of several roads around the Ninoy Aquino International Airport (Naia) complex in specific hours on Jan. 15, the Pope’s arrival, and on Jan. 19, the Pope’s departure. Ma. Consuelo Bungag, officer in charge of the public affairs division of the MIAA, said that on the first day, the “whole stretch of Sales Avenue all the way to Andrews Avenue; Domestic Road all the way to Park and Fly; and MIA Road going to Roxas Boulevard” will be closed from 3 p.m. to 7 p.m. On the second day, she said the same roads will be closed from 7 a.m. to 10 a.m. Jump-off point “So what do we expect to happen? [Some] Naia terminals can only be accessed via South Superhighway through Bicutan, Alabang and Sucat Road,” she said in a press conference at the Naia Terminal 1 Boardroom on Tuesday. To enable travelers to get to these last two terminals on those days, she said airport authorities had designated Naia Terminal 1 Parking B as a “jump-off point.” “From [this] staging area, those travelers will be brought to Read More …
Indonesian Buddhists pray for the victims of Indian Ocean tsunami one day ahead of its 10th anniversary at a mass grave in Banda Aceh, Aceh province, Indonesia, Thursday, Dec. 25, 2014. AP Deaths caused by weather-related disasters like Typhoon “Ruby” (international name: Hagupit) in the Philippines and Cyclone “Hudhud” in India are declining, according to the head of the United Nations Office for Disaster Risk Reduction. Margareta Wahlstrom, also the UN special representative on disaster risk reduction, on Thursday noted the “significant drop in the number of people directly affected by disasters in both Asia and Europe.” In a statement issued on the 10th anniversary of the Indian Ocean tsunami, which left 227,000 people dead in 14 countries on Dec. 26, 2004, Wahlstrom said Ruby and Hudhud “could have claimed many thousands of lives.” But “[t]hanks to a combination of better organization, coordination, response and preparedness [between the public and private sectors], improved weather forecasting, early warnings, public education, and media engagement, there has been a reduction in the number of people dying in such [disasters],” she said. “That’s the good news. But risk and opportunity are two sides of the same coin. Economic development and population growth are driving up our exposure to risk at an unprecedented rate and this is reflected in the escalation of economic losses this century, calculated by the UN Office for Disaster Risk Reduction to be in the region of $2 trillion,” Wahlstrom said. She said that “reducing the loss of lives will remain Read More …
Pope Francis kisses a statue of Baby Jesus as he celebrates the Christmas Eve Mass in St. Peter’s Basilica at the Vatican, Wednesday, Dec. 24, 2014. AP VATICAN CITY—Pope Francis condemned the “brutal persecution” of minorities by Islamic State (IS) insurgents in his Christmas message on Thursday and urged people not to be indifferent to the suffering of so many around the world. On a day that brings joy to little ones in much of the world, Francis expressed anguish for children who are victims of violence, including the recent terrorist attack on a Pakistani military school, or those who are trafficked or forced to be soldiers. “Truly there are so many tears this Christmas,” he said. Tens of thousands of people turned out on St. Peter’s Square to hear the Argentine Pope deliver his “Urbi et Orbi” (Latin for: To the city and the world) blessing and message, marking the second Christmas since his election last year. The Pope also appealed for an end to conflicts in African countries, urged dialogue between Israelis and Palestinians, condemned the attack by Taliban militants that killed more than 130 students in Pakistan last week, and thanked those helping the victims of the Ebola epidemic. But he reserved his toughest words to defend the victims of IS fighters who have killed or displaced Shiite Muslims, Christians and others in Syria and Iraq who do not share the group’s ideologies. “I ask Him, the savior of the world, to look upon our brothers and Read More …
popular China tightens church control ahead of Christmas North Korea threatens strikes on US amid hacking claims Let a brick hit you Man gives gift of liver and life for someone he knew only casually 114-year-old woman who challenged Facebook age policy dies Mexican family of 8 dead in suspected murder-suicide The battle for Santa Claus’ home ‘Amihan’ plays Grinch on Christmas videos Rain or Shine edges Alaska, ties series on Christmas Day 5,000 joggers take part in Santa Run Simbang Gabi at the Gesu ( Day 9 – Dec. 23, 2014 ) Baldwin wants Olympics stint, Fiba Asia gold for Gilas ‘Parade of Stars’ opens 40th Metro Manila Film Festival SUBIC, Zambales—The Coast Guard rescued nine Filipinos, who served as crew of a Manila-bound South Korean cargo ship which ran aground at Subic Bay near this town at Wednesday dawn. The crew was brought to the Coast Guard headquarters in Manila on Wednesday night. Police Officer 1 George Cosme, commander of the Coast Guard’s Subic sub-station, said Warlito Ordinaryo, the captain of MV Sea Lord, had problems maneuvering the ship through rough seas. Also rescued were Remedio Mayordomo, Hilario Basan, Lorenzo Bughao, Armando Taay, Charlie Umali, Rolando Robes, Rodolfo Losaria Jr. and Joel Lonzaga. Allan Macatuno, Inquirer Central Luzon Tags: coast guard Global Nation Korean Ship Zambales Related Stories: Australia investigates ‘paedophile’ father in Thai baby scandal Bangladesh ferry owner faces charges in sinking Bangladesh ferry owner faces charges in sinking Bangladesh ferry owner faces charges in sinking Bangladesh Read More …
Holidays are sweeter with “balikbayan” boxes around. Chocolates, candies and clothes top the list of favorite balikbayan box contents, with three in every five readers citing them as among their all-time favorites. The Inquirer’s “What’s in Your Balikbayan Box?” contest, which ran from Dec. 14 to Dec. 21, asked readers to name their all-time favorite items found inside balikbayan boxes sent through the years by family members living or working in other countries. Readers from the provinces of Ilocos Sur, Cebu, Leyte, Pangasinan, Batangas, Bulacan and Cavite shared their lists of favorite goodies in boxes sent by loved ones from the United States, Canada, Italy, Saudi Arabia, United Arab Emirates, Israel, Japan, South Korea and Singapore. Sixty-seven percent listed “chocolates and candies” while 63 percent had “clothes” as among their top favorite goodies. Others wrote shoes (56 percent) and food (52 percent). Toiletries (44 percent) and canned goods (41 percent) were also on the lists, as were bags (22 percent), toys (19 percent) and watches (15 percent). The sweetest things “Chocolates [are] the sweetest. A balikbayan box would never be complete without them,” said Eilen Pajimula, who receives the boxes from her mother in Dubai. “Every year, my sister Marie gives us chocolates and other goods and sends [them] to us, usually during the Christmas season,” said Gee Lorena, whose sister is in South Korea. Alice Pineda is likewise excited about the balikbayan boxes her sister Arlene sends from San Diego, California. One of the things she most looks forward Read More …
Energy authorities are calling for more investments in biofuels as officials review a current program mandating the blending of biodiesel and ethanol in locally distributed diesel and gasoline. There has been market buzz that local biofuel suppliers are still unable to meet required demand, nearly a decade since the Biofuels Act of 2006 started creating a market for plant-based fuel additives. The measure aims to curb the country’s fuel imports, bring value-added income to farmers, and lessen vehicle emissions with “cleaner” fuel blends. Currently, the mandated blend for coconut based biodiesel is 2 percent under the Biofuels Act of 2006 and authorities are uncertain whether a higher blend of 5 percent may be implemented despite initial enthusiasm from coconut farmers and the Department of Agriculture, DOE Undersecretary Zenaida Monsada said in an interview. “The target for B5 (5 percent blend), really, under the biofuels program, is 2015. We are looking into whether we can still pursue that,” Monsada said. Being the top coconut oil producer, the Philippines has so far been able to locally source the two percent blend for biodiesel. However, recent typhoons have badly hit coconut-producing areas. Combined with the declining coconut oil production from aging trees and loss of productivity from recent infestations, authorities say they want to make sure local farmers can keep up with demand if the blend rate is increased to B5. Compliance with the current 10-percent mandate for ethanol blend in gasoline seems more challenging for the Philippines due to lack of capacity Read More …
popular Pangasinan execs axed over black sand Viber goes public North Korean websites back online after shutdown Liberal Party eyes Roxas-Poe tandem Slain Lucena cop hailed as hero 2 kidnap-slay suspects found guilty Gay cure scam: Beijing court orders apology Azkals to get $300,000 Fifa aid next year videos Simbang Gabi at the Gesu ( Day 9 – Dec. 23, 2014 ) Baldwin wants Olympics stint, Fiba Asia gold for Gilas ‘Parade of Stars’ opens 40th Metro Manila Film Festival Homebody: Boots Anson-Roa New coach says Gilas program in ‘good shape’ INQUIRER FILE PHOTO MANILA, Philippines—The Philippine National Police will be deploying 25,000 policemen for the much-awaited visit of Pope Francis to the Philippines in January next year. The policemen will be securing the immediate vicinity of the venues Pope Francis will be visiting during his stay in the country. Others will be deployed for perimeter and route security detail, according to PNP spokesperson Chief Supt. Wilben Mayor. “The PNP is preparing for elaborate security measures for the papal visit as we will provide operational support to the Presidential Security Group and close-in security services to Pope Francis’ entourage,” the police official said. The papal visit will be from Jan. 15 to 19, 2015, with Pope Francis visiting Tacloban City, the area hardest hit during Supertyphoon “Yolanda” in 2013. The PNP is part of the committee on security, peace and order, which is made up of 18 government agencies involved in security preparations for the papal visit. Mayor said the Read More …
popular . Pangasinan execs axed over black sand Viber goes public North Korean websites back online after shutdown Liberal Party eyes Roxas-Poe tandem Slain Lucena cop hailed as hero 2 kidnap-slay suspects found guilty Gay cure scam: Beijing court orders apology Azkals to get $300,000 Fifa aid next year videos Simbang Gabi at the Gesu ( Day 9 – Dec. 23, 2014 ) Homebody: Boots Anson-Roa New coach says Gilas program in ‘good shape’ Simbang Gabi at the Gesu (Day 8 – Dec. 22, 2014 ) Bb. Pilipinas queens: Beauty need not be skin-deep MANILA, Philippines—Travelers may find themselves paying for cheaper airline tickets next year as the government is moving forward with an unprecedented plan to “scrap” fuel surcharges, saying these are no longer required because oil prices are falling globally. Civil Aeronautics Board (CAB) executive director Carmelo Arcilla confirmed in an interview on Tuesday a decision to remove the surcharge on fuel for “all international and domestic airlines with operations in the Philippines, effective immediately.” Arcilla said the exact timing would depend on when a final resolution is signed but he said the removal of the surcharge could take place in early 2015. The move would result in lower ticket prices as the fuel surcharge can run into the hundreds of US dollars for long-haul international flights. Brent crude oil has declined over 46 percent since June and expectations were for this slump to continue, reports overseas showed. “This surcharge is imposed by airlines to cover volatile price Read More …