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Maynilad employees help in repacking relief goods

Economy

Nov 192013

Maynilad employees help in repacking relief goods

MANILA, Philippines – West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) recently sent 63 employee-volunteers to the Department of Social Welfare and Development (DSWD) National Resource Operations Center, Pasay, to help load packed relief goods to delivery trucks that will transport the items to relief centers set up for Typhoon Yolanda evacuees. The employees spent the evening carrying packed relief goods for about 600 families, in response to the call for manpower assistance of DSWD. “We have always encouraged volunteerism among our employees. During this very trying time, we’re glad to help our typhoon-stricken countrymen in whatever way we can,” said Maynilad President and CEO Ricky P. Vargas. Besides the assistance of its employee-volunteers, Maynilad has likewise been donating to the relief effort for typhoon-stricken areas through the provision of potable water, food, and other needed items. Maynilad is a concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area.

Inflation seen rising in Nov-Dec

Economy

Nov 192013

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said the inflation rate in the Philippines would rise in the last two months of the year following the massive destruction brought about by Super Typhoon Yolanda in the Visayas region. BSP Governor Amando M. Tetangco Jr. said inflation is now seen averaging 3.2 percent this year and 4.5 percent in 2014, both are upward revisions of an October forecast of three percent and four percent, respectively. Tetangco said that the BSP will announce the final full-year inflation forecast on Dec. 12, its last rate-setting meeting. “(This is just) one of the scenarios in our modeling exercise (that will be) firmed up before (the) next policy meeting,” Tetangco said in a text message. Typhoon Yolanda ravaged the Visayas region earlier this month, killing thousands, wiping out villages and destroying billions-of-pesos worth of agriculture and infrastructure. BSP Deputy Governor Diwa C. Guinigundo said the jump in the inflation rate is one of the impacts of the natural disaster given possible supply shocks. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “That’s the staff’s initial assessment considering the effects of the disaster,” Guinigundo said. “(We) will continue to monitor until the last Monetary Board meeting on monetary policy in December,” he added. The Monetary Board has kept overnight borrowing and lending rates at 3.5 percent and 5.5 percent, respectively, since the start of the year. It has been able to do so on the back of the country’s robust economic growth and Read More …

Quality Gionee phones

Economy

Nov 192013

MANILA, Philippines – Top mobile phone manufacturer Gionee Equipment Co. Ltd. Gives special focus on research and development (R&D) and innovation which has enabled it to ensure the high quality of its smartphones and maintain their competitive edge. Company officials said Gionee’s R&D system consists of six professional entities: Application R&D Institute, Smartphone R&D Institute, Overseas BU R&D Institute, CDMA R&D Institute, GOSO R&D Institute, and AORA R&D Institute. “Gionee’s focus on R&D and innovation is in keeping with its promise to customers to produce the best mobile phone products that are affordable and packed with useful features so they can do more with less,” Gionee Mobile Philippines head Katrin Salanga-Gregorio said. Gionee is one of the biggest mobile phone manufacturers in China after its Gionee Industrial Park went into production in 2006. It aims to become the top mobile phone manufacturer in China after it completes construction of industrial park facility. The Gionee P2 and GN708, sources said, are selling briskly in the Philippines. For inquiries, you may call 470-63-75, or through its official FB Page: https://www.facebook.com/GioneeSmartPhonePh.

Hyundai to sell hydrogen-powered SUV in 2014

Economy

Nov 192013

Hyundai to sell hydrogen-powered SUV in 2014

DETROIT — For years, the joke in the auto industry was that a mass-produced car that runs on hydrogen was always a decade away. That will change next year when Hyundai starts selling a Tucson SUV powered by a hydrogen fuel cell. It will be the first mass-market vehicle of its type to be sold or leased in the U.S. “These things are now ready for prime time,” John Krafcik, Hyundai’s North American CEO, said last week. His company plans to announce details of the new Tucson on Wednesday at the Los Angeles Auto Show. Even as the industry focused on battery-powered and hybrid cars, automakers such as Hyundai, Honda and Toyota kept up research on fuel cells. Now they appear to have conquered obstacles such as high costs, safety concerns and a lack of filling stations. These vehicles could help the companies meet stricter future fuel-economy standards. Automakers have been dabbling in hydrogen-powered cars since the 1960s. General Motors announced a test fleet of hydrogen-powered Chevy Equinoxes in the mid-2000s, and Honda leased about two-dozen FCX Clarity models for $600 per month starting in 2005. President George W. Bush allocated $1.2 billion for hydrogen research and said in his 2003 State of the Union address: “The first car driven by a child born today could be powered by hydrogen and pollution free.” But the program was largely scrapped by the Obama administration, which focused more on battery-powered vehicles. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Hyundai now Read More …

MVP Group: Model for CSR

Economy

Nov 182013

Millions of Filipinos have been left homeless by Typhoon Yolanda, while the cost of the damage has been initially placed at more than P10 billion – and it’s obvious that rehabilitation will require massive resources and gargantuan efforts. The death toll continues to rise even as we write, but it’s quite clear to everyone that the focus should be on helping the survivors who are in need of food, water, medicines, clothes and shelter. Despite the devastation, Filipinos are heartened by the compassion and support coming from many local companies who are all stepping up to the plate, initiating their own fund drives, forsaking planned Christmas celebrations, and conducting relief operations. Major businesses are displaying corporate social responsibility (CSR) through corporate foundations, among them the Aboitiz group which initially raised P30 million. Aboitiz Equity Ventures president Jon Aboitiz told me they have a target of raising P200 million and that they are now “close to it,” realizing that there is much to be done but that we will be able to do it as a nation. Another conglomerate that has also been in the thick of relief efforts is the SM Group that has allocated P100 million in calamity funds for the rebuilding of homes, community centers and schools in disaster affected areas most particularly in Tacloban, Samar, Ormoc, Capiz, Iloilo, Cebu and Bohol that also suffered from a 7.2 magnitude earthquake. The SM Group via SM Cares is doing a fantastic job, having sent over 50,000 relief packs and Read More …

Ford expects 2-digit growth in sales

Economy

Nov 182013

MANILA, Philippines – Ford Philippines expects to end this year with double-digit growth in sales from a year ago due to the strong demand across its vehicle lineup. Ford Philippines president Kay Hart told reporters in a chance interview the firm expects to beat last year’s total sales this year and to post double-digit growth, citing the positive performance of its vehicle models. The company sold a total of about 10,000 vehicles in 2012. “We’ve had huge growth year-on-year. In fact, we are the fastest growing automotive brand here in the Philippines and we are hoping to continue that success for the last two months of the year,” Hart said. As of end-October, Ford has sold 10,877 units, 58.2 percent higher than the 6,875 units in the same period last year. For the 10-month period, the firm had the fourth biggest share in sales, with its 7.3 percent share. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Hart said the higher sales would be driven by the demand seen for vehicle models being sold. The firm earlier reported that many of its vehicle models have been showing year-on-year increases in sales. For the 10-month period, sales of the Focus grew 81 percent to 896 units from last year. Sales of Ford’s sports utility vehicles as of end-October have also shown growth compared to a year ago. The number of Everest units sold as of end-October went up 60 percent to 2,295 units compared to a year ago, while the Read More …

Bourse slides on profit-taking

Economy

Nov 182013

MANILA, Philippines (Xinhua) – Lacking incentive to entice more investors to place their money in the stock market, the local equities closed today’s session in the negative. The bellwether Philippine Stock Exchange index lost 0.05 percent or 3.15 points to 6,343.25, while the broader all-share index retreated by 0.11 percent or 4.14 points to 3,864.86. Trading volume reached 539 million shares worth P6.52 billion ($149.76 million) with 74 stocks declining, 61 advancing and 50 were unchanged. Of the six counters, only the holding firm sector bucked the trend. “Although buyers have surfaced in time to stave off a drop below 6,200 last week, lifting the equities remains heavy as rallies are soon enough capped by profit-taking,” analyst Justino Calaycay of Accord Capital Equities Corp. said. The analyst said not even the positive outcome of trading sessions in neighboring Asian countries and China’s decision to implement broad-based reforms could prevent profit-taking among investors. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Local shares joined the cheer but continued to meet stiff resistance from sellers, capping the advance and even threatening to send the measure back in the red. Deep into the afternoon session, the bulls finally caved in to the pressure, allowing the bears to take the day,” Calaycay said. The composite index in fact went up to as high as 6,386.62 or 40 points higher from Friday’s close before profit takers dominated the session. The bellwether touched an intra-day low of 6,324.24 on Monday. In the meantime, Calaycay said Read More …

Slower growth, more poverty feared after 'Yolanda'

Economy

Nov 172013

Slower growth, more poverty feared after 'Yolanda'

President Benigno Aquino III (in yellow), returning to typhoon-hit Tacloban City on Monday, is pictured with Interior Secretary Mar Roxas and Social Welfare and Development Secretary Dinky Soliman (in red). RTVM MANILA, Philippines (Xinhua) – Due to the vast devastation and huge loss of lives wrought by super typhoon Haiyan (locally named Yolanda) that slammed the Visayas a week ago, the country’ economic growth could slow down and the incidence of poverty could rise. On Friday, the Philippines’ National Economic and Development Authority (NEDA), the top economic policy-making body of the government, said that the country’s gross domestic product (GDP) could grow by only 4.1 percent in the fourth quarter. The NEDA is now saying that the full-year GDP growth could range from 6.5 and 7 percent, slower than the earlier forecast of 7.3 percent. But the full-year GDP growth forecast still remains at the high end of the government’s 2013 target of 6 to 7 percent. In a statement, NEDA Director General Arsenio Balisacan acknowledged the need for massive relief, rehabilitation and reconstruction efforts to ease the impact of the calamity on the economy. “To ensure that we regain lost ground the soonest, we need to accelerate the implementation of social and economic development projects,” Balisacan said. Earlier, Balisacan also said that Haiyan and other natural calamities that have struck the Philippines could push more households into “transient” poverty. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said that a significant portion of the country’s poor are Read More …

LG donates at least $600,000 to ‘Yolanda’ victims

Economy

Nov 172013

LG donates at least $600,000 to ‘Yolanda’ victims

LG Electronics Philippines managing director Sung Woo Nam (right) presents $500,000 check to Philippine Red Cross chairman and chief executive officer Richard Gordon (left) signifying support to victims of super typhoon Yolanda. MANILA, Philippines – Global top technology innovator LG Electronics has pledged to support the distraught victims of the severe Yolanda typhoon by giving $500,000 (approximately P22 million). This cash donation was coursed through Red Cross Philippines. To address the issue of electricity shortage, LG Electronics as one of the top Solar Panel manufacturers also committed to install its Solar Power System worth $100,000 (approximately PHP 4.3 million) in major evacuation centers. Solar power generation is one of the most environment-friendly renewable sources of electricity. Upon installation, LG Solar Panels can directly convert sunlight to electricity, while the accompanying charge controller, batteries, inverter, and loads will be able to sustain it. This activity will be done in cooperation with the Department of Energy. These environment-friendly LG Solar Panels renew and sustain electricityin the Palawan City Hall. In addition, LG employees have made their own individual contributions and raised a total of $10,000. When the overwhelming situation stabilizes, LG will undergo community rehabilitation with “LG Service Camp”, an annual CSR program dedicated to victims of calamities. Now on its third year, LG Service Camp will offer free appliance and mobile phone cleaning and repair to all affected LG customers. LG employee volunteers will also extend services to Medical Missions and free Labada Days. Donations of LG TVs and washing machines Read More …

DOTC finalizing bid terms for LTO IT proj

General

Nov 172013

DOTC finalizing bid terms for LTO IT proj

MANILA, Philippines – The Department of Transportation and Communications (DOTC) is finalizing the terms of reference (TOR) for the rebidding of the P8.2 billion road information technology infrastructure project of the Land Transportation Office (LTO). Transportation Secretary Joseph Emilio Abaya said the agency together with LTO are finalizing the TOR and intends to publish the new terms within the year. “We are awaiting the finalization of TOR and we hope to publish that within the year,” Abaya said. Bidding for the multi-billion peso has failed twice. Abaya said the agency declared a failure of bidding last July after the financial proposals submitted by the three bidders failed to meet the agency’s requirement. All the three bidders including Digitext Asia Corp., Fritz and Macziol Asia, and Eurolink Network failed to pass the post-qualification proceedings in line with the provisions of RA 9184 or the Government Procurement Act. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Last Nov. 26, the DOTC conducted the bidding for the multi-billion peso project after five out of the nine companies that purchased bid documents participated in the open and transparent procurement process. Digitext Asia submitted the lowest bid of P3.8 billion followed by Fritz and Macziol Asia with P5.3 billion, and Eurolink Network with P5.8 billion.The bids submitted by Kaisa Consulting and Ceragon Network were not opened because of lack of technical requirements. The four other companies which purchased bidding documents but did not participate in the bidding were Stradcom Smartmatic, Oberthur Technologies and Indra Read More …

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