Maniolas

After launching the Kapatid, Angat Lahat program last August, we have launched one of its components, the Go Negosyo Mentor Me program, in different provinces and cities such as Cavite, Tarlac, Baguio, Iloilo, Tacloban, Cebu, Davao, General Santos, Cayagan de Oro, Tubod and Zamboanga. For the past months, together with DTI and our partners, we have deployed many entrepreneur-mentors who are willing to guide and assist the micro entrepreneurs (MEs) in their journey to scaling up. First batch of graduates from Mentor ME Baguio with DTI-CAR representatives and panelists. Just recently, Baguio and Zamboanga concluded their first batch of Mentor ME last Nov. 18 and 21, respectively. Their culmination day is a combination of business plan presentation and graduation rites. During the presentation, mentees were asked to present their business model or plans for expansion to a panel composed of a) bank/financing institution, b) entrepreneurs whose expertise are on operations and marketing, c) Go Negosyo Angelpreneur/DTI regional director and their d) Negosyo Center business counselor who will help them realize these plans even after graduating from the Mentor ME program. For most of those who are already running their business for years, I am equally surprised and relieved that it’s their first time to prepare a business plan. Relieved simply because they are appreciative of the fact that at last someone has taught them that a detailed plan is essential for an entrepreneur who is eager to be successful. I am delighted to share some of the first batch of Read More …

The seven- and 28-day term deposits fetched higher rates yesterday ahead of the increase in the volume of the term deposit facility (TDF) to be implemented by the Bangko Sentral ng Pilipinas (BSP) on Dec. 1. File photo Fed rate hike, Trump presidency causing jitters MANILA, Philippines – Term deposits continued to fetch higher yields due to the uncertainties brought about by the impending interest rate hike in the US next month and the assumption into office of US president-elect Donald Trump early next year. The seven- and 28-day term deposits fetched higher rates yesterday ahead of the increase in the volume of the term deposit facility (TDF) to be implemented by the Bangko Sentral ng Pilipinas (BSP) on Dec. 1. During yesterday’s auction, the seven-day term deposits fetched 2.5249 percent from last week’s 2.5232 percent as accepted yield ranged between 2.5 and 2.5313 percent while yield of the 28-day term deposits inched up to 2.8023 percent from 2.7842 percent as accepted yield ranged from 2.5 to 2.95 percent. BSP Governor Amando Tetangco Jr. said the auction results were expected. Bids for the seven-day term deposits reached P22.79 billion for a lower bid coverage ratio of 2.279 while tenders for the 28-day term deposits amounted to P150.55 billion for a lower bid coverage ratio of 1.2546. “The bid to cover ratio changes are beginning to reflect seasonality given these tenors would mature close to the holidays,” Tetangco said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The BSP made Read More …

Real estate giants Ayala Land Inc. (ALI) and Filinvest Land Inc. (FLI) are exploring expansion opportunities in the Middle East, Philippine Economic Zone Authority (PEZA) director general Charito Plaza said. File photo MANILA, Philippines – Real estate giants Ayala Land Inc. (ALI) and Filinvest Land Inc. (FLI) are exploring expansion opportunities in the Middle East, Philippine Economic Zone Authority (PEZA) director general Charito Plaza said. Plaza said the two property firms are eyeing projects that would cater to the millions of Filipinos working in the Middle East.  “I recently came from Middle East. I was with the President in his state visit in China and Japan and after Japan, I went to Qatar because I was guest speaker of the real estate executives of Qatar which includes Filipino real estate developers like Ayala Land and Filinvest,” Plaza said. “They are also exploring the market of Qatar and the Middle East, especially for our overseas Filipino workers,” she added. During said Middle East trip, Plaza  offered Philippine lands and islands to investors, including members of royal families, the PEZA chief earlier reported. ALI and FLI serve as property units of two of the country’s largest conglomerates—Ayala Corp. and Filinvest Development Corp. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 ALI marked its first international expansion in 2010 through a partnership with Sino-Singapore Tianjin Eco-City Investment and Development Co. Ltd. to develop a 9.78-hectare property in Beijing. The property giant earned P15.1 billion in the nine months ending September 2016, with revenues Read More …

The transition team of Donald Trump has been very busy helping the US president-elect vet the potential members of his White House staff and Cabinet, starting with Reince Priebus as chief of staff, Alabama Senator Jeff Sessions as attorney general and retired general Michael Flynn as national security adviser. A lot of Cabinet positions are still waiting to be filled, including that of state secretary (said to be a toss-up between former New York mayor Rudy Giuliani and former Massachusetts governor Mitt Romney). Businessmen, however, are closely monitoring Donald Trump’s picks for his economic team that include the secretaries for Commerce and Treasury, as well as directors for the Office of Management and Budget, and chairman of the Council of Economic Advisers. Much earlier, Trump released a video message reiterating his presidency would focus on “putting America first,” with subsequent executive actions that would underscore this core principle. Trump has already announced he would junk the Trans-Pacific Partnership or TPP (which he characterized as a potential disaster) and instead called for “fair bilateral trade deals that bring jobs and industry among American shores. “Whether it’s producing steel, building cars or curing disease, I want the next generation of production and innovation to happen right here, on our great homeland: America – creating wealth and jobs for American workers,” Trump’s video message went. Official data says the US unemployment rate is at 4.9 percent, although many are convinced that “real unemployment” is much higher, most likely at 20 percent. Trump’s campaign Read More …

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has issued the guidelines on the gradual discontinuance of access of trust entities to the deposit facilities of the central bank. BSP officer-in-charge Vicente Aquino said the Monetary Board has issued a resolution approving the discontinuance of access of trust entities to the BSP deposit facilities. The deposit facilities including the overnight deposit facility (ODF) and the term deposit facility (TDF) serve as a monetary policy instrument for managing domestic liquidity in the financial system. “It is not intended to become an investment outlet of banks and trust entities,” Aquino stated in the memorandum. In keeping with the nature of the facilities, access by trust entities to the ODF and TDF would be discontinued in July next year. Aquino said all trust entities should no longer have outstanding placements in the ODF and TDF by June 30 next year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For orderly transition, the BSP said all ODF and TDF placements of trusteed accounts and Unit Investment Trust Funds (UITFs) should be reduced to 50 percent by Dec. 31 this year and to 30 percent by March 31 next year on a per account basis for trusteed accounts and a per fund basis for UlTFs. “Any remaining ODF and TDF placements shall be terminated by June 30, 2017.  It is the responsibility of the trust entities to ensure that any ODF and TDF placements shall mature and/or be terminated by 30 June 2017,” Read More …