Maniolas

MANILA, Philippines – With the Department of Trade and Industry (DTI) unable to complete its preliminary investigation on petitions to impose safeguard duties on imported newsprints and galvanized iron (GI) sheets in April, the department is now looking to issue its recommendations within the month. “We are working very hard at completing it at the technical level, even earlier than that (the end of the month),” DTI Bureau of Import Services director Luis Catibayan said in a text message yesterday. The DTI earlier said it intended to issue the recommendations in April. The DTI launched its preliminary investigation on imports of newsprint as well as GI and pre-painted GI sheets in September last year following petitions filed by Trust International Paper Co. (TIPCO) and Puyat Steel Corp. seeking to impose safeguard measures on newsprint, GI and PPGI sheets. In its petition, TIPCO claimed the newsprint imports have increased, causing serious injury to local players. Locally produced newsprint made mainly from recycled paper, is used for newspapers, books and school pads. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For its part, Puyat Steel said imports of construction materials such as GI and PPGI sheets pose a threat to the local industry with its market share, production sales, capacity utilization, productivity and profitability declining. To provide relief to domestic industries, a country can impose safeguard measures or higher duties on imported goods. The safeguard measures can be applied when it is found that there is an increase in imports of Read More …

We give way to two of our readers today. The first, from Engr. Alex G. Serrano, are excerpts of a lengthy letter on one of my favorite topics: the Philippines’ poorly managed population growth. The second, from 2nd Lt. Earl Gerard Gamboa, is about the Maroon Berets. Oversupply of labor Serrano writes: “I sincerely believe in your statement that “The unemployment rate has been showing an alarming increase, and even in absolute numbers, should be enough cause for concern by our government economists ….” “I think the real problem is that many of our people especially the church and cold-hearted economists (cheap labor is good for business) refuse to accept the fact that through the years we have accumulated an oversupply of labor, more specifically from the ranks of the poor, which as you said “will continue to swell if the population growth is not subdued.” “I know that there are many other factors that cause poverty in our country, but I do hope that you and many others like you will be able to convince our government that at least for long term development we should accept the fact that an oversupply of labor from the poor exists and should be dealt with squarely. “From having almost the same population with Thailand and South Korea in the 1950’s, the Philippines by 2010 had 33.6 million more people than Thailand and 51.3 million more people than South Korea. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “For 60 years, Read More …

MANILA, Philippines – The Department of Transportation and Communications (DOTC) has tapped a Korean consortium to undertake the consulting and engineering services for the civil works of the P9.7-billion Light Rail Transit (LRT) Line 2 East Extension project. Transportation Undersecretary Jaime Raphael Feliciano issued a notice to proceed to the consortium of Foresight Development and Surveying Co., Soosung Engineering Co. Ltd., and Korea Rail Network Authority.  “In connection with the implementation for the consulting/engineering services for civil works of the LRT2 East (Masinag) Extension project awarded to your company in the total amount of P240.78 million, you are hereby directed to commence work within seven days from the receipt of this notice,” Feliciano said. The notice to proceed was issued after Transportation Secretary Joseph Emilio Abaya approved the awarding of the contract to the Korean group. The consortium submitted a bid of P240.78 million or more than P100 million lower than the approved budget of P350 million for the project. The consortium edged the group composed of JF Cancio & Associates in association with Development Engineering & Management Corp., Engineering & Development Corp. of the Philippines, Filipinas Dravo Corp., TCGI Engineers, Urban Integrated Consultants Inc., and Oriental Consultants Co. Ltd. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Other groups that were shortlisted included the consortium of Schema Konsult Inc., Pertconsult International, KE Asia Inc., DCCD Engineering Corp., Key Engineers Co., and Proconsult Inc.; the tandem of Systra Philippines and Philipps Technical Consultants Corp. as well as the joint Read More …

MANILA, Philippines – Inflation is expected to have picked up pace in April from the previous month on the back of higher food prices, two banks said in separate research notes. UK-based Barclays and Metropolitan Bank & Trust Co. both said inflation likely accelerated to 4.1 percent in April from 3.9 percent in March. “Inflation (is) likely to tick higher as food prices rise at the margin, along with a sticky core,” Barclays said in its  latest Emerging Markets Weekly report. Inflation peaked at a two-year high of 4.2 percent in January before easing to 4.1 percent in February and 3.9 percent in March. The Bangko Sentral ng Pilipinas last week forecast April inflation to settle within 3.6 percent to 4.5 percent amid higher rice prices and upward adjustments in power rates. “Rice prices continue to move up this year, as supply constraints from low production and efforts to curb smuggling ensued,” Mabellene Reynaldo, research analyst at Metrobank, said in its Weekly Views from the Metro report. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 She noted regularly-milled rice prices have already gone up 19.2 percent from year-ago levels, while total rice stocks as of March 1 fell 10.9 percent from the previous month to 1.78 million metric tons. Moreover, the government will be importing 800,000 MT of rice from Vietnam to augment supply for the lean season in the third quarter. At the same time, Reynaldo said “higher energy costs are also expected to drive the index, as Read More …

MANILA, Philippines – The price of bread outside of Metro Manila may increase as a result of the provisional duty imposed on Turkish flour imports, a flour   importer said. Malabon Longlife Trading Corp. president Ernesto Chua Co Kiong  told  reporters on the sidelines of the Tariff Commission’s preliminary   conference for the formal investigation of wheat flour imports from   Turkey yesterday, bread prices in the provinces may rise after the provisional duties take effect. “The most that will be affected are the products being sold in the  provinces. I am sure prices will become higher,” he said.      This, as Turkish flour is commonly used by community bakers for products sold in provinces.      “In the provinces, bread prices will increase by around seven to eight   percent,” Chua said.      He noted though that the price hike is not expected to take effect immediately.      “July is when you will feel the increase. Right now, given weak   demand, bakers will not be adjusting prices,” he said.      Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Earlier, the Philippine Association of Flour Millers, Inc. (PAFMIL) and Department of Trade and Industry said there should be no upward movement in the price of bread products such as Pinoy Tasty and   pan de sal as flour prices are stable.      The 450-gram Pinoy Tasty costs P37, while Pinoy pan de sal is priced   at P22.50 for each 10-piece pack.      Last month, the Department of Agriculture (DA) issued an order   imposing a provisional duty of 35 percent on hard flour Read More …