Maniolas

MANILA, Philippines – Foreign portfolio investments or hot money recorded a net outflow in September as funds return to the US, which is showing signs of economic recovery. Net hot money outflow amounted to $324.12 million in September, a reversal of the $682.73-million net inflow recorded in the same month last year. Foreign portfolio investments are also called hot money for the ease with which they enter and leave a country. Gross inflows in September went down 17 percent to $2.15 billion from $2.6 billion last year, while gross outflows climbed 29 percent to $2.47 billion from $1.92 billion. “Registered investments were lower … due to the effects of the tapering of the quantitative easing program of the United States,” the BSP said. Emerging markets have seen a surge in capital outflows since May last year, when the US Federal Reserve hinted it may start cutting back its monthly asset purchases. Speculation on the timing and volume of the tapering sent waves of volatility to global financial markets as investors rebalanced their portfolios. January marked the actual start of the Fed’s reduction in its asset purchases, which is now seen ending in October. But markets have remained volatile as investors brace for the rise in global interest rates following the end of the Fed’s stimulus. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The BSP said the bulk or 81.5 percent of the hot money inflows in September went into Philippine Stock Exchange-listed securities, mainly telecommunication firms, holding firms, Read More …

MANILA, Philippines – The government will seek duty-free exports of goods produced from the Bangsamoro area to Japan, Finance Secretary Cesar V. Purisima said yesterday. “We’re talking about giving the Philippines’ products from that region… (We want) preferential access to Japan so we can jumpstart investments in that area, the Bangsamoro,” Purisima told reporters yesterday. The move will help lift economic growth in Mindanao especially amid the pending passage of the Bangsamoro Law, eyed to mark the end of several decades of insurgency and boost investments in the resource-rich parts of the country. Details of this transaction will be finalized at the upcoming Philippine Development Forum (PDF) next month, Purisima said. “There are no final agreements yet so we have to wait for the PDF,” Purisima said. There have been a number of programs on peace and development in Mindanao implemented by the Japan International Cooperation Agency (JICA) including aid under the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD), Purisima said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Japan has been one of our biggest supporters, especially in Mindanao,” Purisima said. Purisima has just returned from a road show in Tokyo last week, during which the government’s economic team presented over $12.28 billion worth of infrastructure projects to Japanese investors.

MANILA, Philippines – The peso moved sideways against the dollar midday Thursday, settling at 44.791 from the previous day’s 44.825. Total volume transacted at the Philippine Dealing System amounted to $401.9 million in the morning, higher than the $295.1 million posted the same period on Wednesday. The peso opened Thursday at 44.76.

Part of Global Entrepreneurship Week is the launch of Go Negosyo’s newest program for outstanding students, the Go Negosyo Building Enterprising Students for Tomorrow. It’s almost November and it is that time of the year once again to prepare for the Global Entrepreneurship Week (GEW).  Every third week of November, over 140 countries all over the world commemorate a week of activities that aims to inspire people and guide them in their entrepreneurial journey. The week celebrates the drive and commitment of thousands of job-creators, livelihood providers and product innovators.  The game changers.  The Entrepreneurs. Last year, Go Negosyo partnered with the British Embassy for the Global Entrepreneurship Week and launched the first Creativity and Innovation Summit. It was a well-attended summit with over 3,000 students and entrepreneurs, followed by a gathering of entrepreneurs at the residence of the then new British Ambassador Asif Ahmad. Then, we partnered with the PLDT SME Nation group for the Bossing Awards. Go Negosyo also partnered with Villar Sipag Foundation for the OFW Summit and a couple of entrepreneurship fora in various schools.   This year, Go Negosyo partners again with the British Embassy for the GEW as our institutions share in the mission to empower Filipinos to move up in life, through a mindset change and upgrading of competencies, which we help address through the  free entrepreneurship education and exposure we provide in our Go Negosyo summits, seminars and Negosyo Talks. The Global Entrepreneurship Week this year will be from November 17-23. And in an effort Read More …

MANILA, Philippines – D&L Industries Inc. said it sees huge potential in its food-related business after it emerged as the fastest growing export of the company in the past five years. Alvin D. Lao, D&L chief finance officer, said the food business is now contributing about 20 percent of the company’s total exports. It was zero five years ago, he said. “The potential is big,” Lao said referring to the export of its food business in the coming years. Overall, D&L Industries’ total exports business is continuing to do well according to Lao, “with first half growth at 31 percent and are now 18 percent of revenues.” Oleo-Fats Inc. (OFI), D&L Industries’ wholly-owned subsidiary, is currently engaged in specialty fats and oils, refined vegetable oils, specialty ingredients, and food safety products. It has over 650 food ingredient formulations serving more than 1,200 customers in the food and beverage industry. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 OFI in August signed a supply agreement with US food manufacturer Ventura Foods, a deal that is expected to further boost D&L’s food-related business into the Asia-Pacific region. The agreement involves the development and production of specialty oils and specialty ingredients for the food service, retail and ingredient manufacturing industries in the Asia-Pacific region. Development and production will be done at OFI’s Mercury Plant in Quezon City. “I don’t know how big it will become yet because it is still early. But I can say that the potential is very big. Initially, Read More …