JAPAN is extending nearly P10 billion in official development assistance (ODA) to support projects in the Philippines, the Foreign Affairs and Finance departments yesterday said in separate statements.
Mar 262015
Mar 262015
ILOILO CITY — Irregularities found in 16 land titles covering about 73 hectares of Sicogon Island are not expected to affect an Ayala Land, Inc. (ALI) project, as the resort to be developed by the company lies outside the area with questionable documentation, an official said.
Mar 262015
INFRASTRUCTURE group Metro Pacific Investments Corp. (MPIC) is not interested in bidding for the Malampaya Deep Water Gas-to-Power project should the government auction it off once the contract of the current consortium expires in 2024, its chairman said on Wednesday night.
Mar 252015
THE GOVERNMENT plans to bid out Clark Rail Transit System deal under the public-private partnership (PPP) program by year’s end, with the terms of the contract expected to be completed within the first half of the year, the Bases Conversion and Development Authority (BCDA) said.
Mar 252015
THE CONSORTIUM of Ayala Group and Metro Pacific Investments Corp. is on track to upgrade the country’s railway ticketing systems, with full commercial deployment scheduled for September this year.
Mar 252015
Exactly 11 working days from today is April 15, the last day for filing of income tax returns (ITR) for individuals and corporations operating on a calendar year basis. The number 11, according to Bible commentators, represents lawbreaking, leading to disorder, chaos and judgment, which seems like fair warning for those who choose to wait until the last moment to file their returns. It’s a strong hint for procrastinators to aim for some other date before April 15, just to be on the safe side.
Mar 252015
MANILA–Megaworld, the country’s leading integrated urban township developer and biggest office developer and landlord, posted a net income of P21.6-billion (inclusive of a P12.1-billion non-recurring gain) in 2014, 139 percent higher than in 2013. Without the non-recurring gain, net income went up by 14 percent to P9.4-billion last year – reflecting an 18 percent annual growth since 2009, when net income was P4-billion, or more than double in five years. Consolidated revenues, excluding non-recurring gain, rose by 15 percent to P41 billion with real estate sales increasing by 16 percent year-on-year to P24.6-billion and rental income growing by 17 percent to P7 billion. “Last year was a milestone for us. With Megaworld celebrating its 25th anniversary, we raked in record earnings and managed to grow our land bank to over 4,000 hectares. Our income growth last year was driven by both real estate sales and rental income. We have a more diversified real estate sales mix that is propelled by our integrated urban township developments in Metro Manila, Cebu and Iloilo as well as tourism-related projects in Tagaytay and Boracay,” said Dr. Andrew L. Tan, Megaworld chairman and CEO. “In the meantime, our rental income is growing in line with our expectations. Continued growth in our office and mall leasable space will provide the catalyst for exceeding P10-billion in rental income in 2016. Last year also saw the consolidation of Global-Estate Resorts, Inc. (GERI), Empire East Land Holdings, Inc. (ELI) and Suntrust Properties, Inc. (SPI) under Megaworld. This enabled us Read More …
Mar 242015
MANILA, Philippines – The Asian Development Bank (ADB) has maintained a cautious growth outlook for the Philippines at 6.4 percent this year and 6.3 percent in 2016. ADB country director for the Philippines Richard Bolt said the 2016 outlook is slightly lower than this year due to external uncertainties such as the economies of Japan and the US. “The 2016 outlook reflects investors’ cautiousness amid uncertainties due to the elections,” Bolt said in a press briefing yesterday. Business and investments generally take a wait-and-see attitude towards national elections. Philippine gross domestic product (GDP) expanded 6.1 percent in 2014, marking several consecutive years of over six percent growth. The ADB official said that inflation is forecast at a lower 2.8 percent this year, before rising to 3.3 percent in 2016. Bolt said most of the positive drivers of growth last year would remain major factors this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Factors that powered private consumption in 2014, such as growth in employment, modest inflation, and higher inflow of remittance, are expected to support solid growth this year,” he added. Growth is projected to accelerate this year on buoyant private consumption, a solid outlook for investment and exports, and recovery in government pending. However, the ADB said the Philippines need to stimulate investment an generate more and better jobs. “Even when the employment rate fell to 6.6 percent in January 2015, the lowest in 10 years, 2.6 million people remained jobless, half of them aged 15 Read More …
Mar 242015
Both FVR and Deng Xiaoping were reported to have minimized the breathtaking accomplishments of Lee Kuan Yew by pointing out Singapore only has five million people. Yes, there are more complicated problems here and in China but they still sound like sour grapes to me. Lee Kuan Yew is about a leader with a vision, the determination and pragmatism to see the vision become reality against great odds. It is about leading by example, a selfless dedication to the good of one’s country with little or no thought of personal gain. It is about strategic thinking and how to move one’s country amidst stiff competition and changing times. An article in Foreign Policy calls LKY a political streetfighter more respected than loved. FP also describes Singapore’s economic miracle as perhaps the most miraculous. “In a small, speck of a country cast off from Malaysia in 1965, without natural resources or a common unifying culture, Lee accomplished more in a generation than anyone thought possible.” Some of our politicians say LKY was successful because he had dictatorial powers. True but Marcos had dictatorial powers too. The big difference is that LKY was honest, had integrity. He used his powers to discipline his people into thinking of common good above self interest. Marcos used his powers to enrich himself and his cronies. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 There was a time when I suggested, not just in jest, that we should hire LKY after his retirement to help Read More …
Mar 242015
MANILA, Philippines – It is vital to our families’ well-being to keep them safe from the harmful effects of insect bites. That is why we regularly spray insect killers in our homes, offices, and other places that people frequent. This practice, however, can be quite painful on the pocket as the more popular insect killers can cost an arm and a leg. Unknown to many, there is a multi-insect killer that presents an affordable alternative. Generally priced 20 percent to 30 percent less than the products we have been using. Temox comes in two variants: Temox insect killer in kerosene and waterbased formula that effectively kills flying and crawling insects. Temox multi insect killer waterbased is formulated with FDA approved formulation and its effectiveness is comparable with the leading brand, leaving flying and crawling insects dead while keeping the environment safe, and your loved ones too. Temox chalk roach and ant killer gets rid of cockroaches, ants, and other crawling insects fast, leaving a visible line that is easy to use and remains effective for weeks. Proudly Filipino-made, FDA-approved Temox ascribes to international standards of product safety and environmental protection. And because of its formulation, the liquid spray produces a scent that is neither harsh nor harmful to human, pets and environment. With Temox, insekto’y tepox! Isn’t it time you tried the multi-insect killer that is kind to the pocket but lethal against disease-causing pesky insects? Temox multi-insect killer is available at leading supermarkets, hardware and drugstores in Metro Manila, Read More …