Emirates seeks P-Noy intervention in 3rd daily flight row

 Economy
Feb 082015
 
Emirates seeks P-Noy intervention in 3rd daily flight row

MANILA, Philippines – Emirates is seeking the intervention of President Aquino after the Civil Aeronautics Board (CAB) decided to end the airline’s third daily flight for the Manila-Dubai route late last month. Jose Perpetuo Lotilla, Undersecretary of the Department of Transportation and Communications (DOTC), said the Gulf carrier has elevated the case to the Office of the President after CAB denied its petition to further extend its third daily flights for the Manila – Dubai route that expired last Jan. 26.  “What I understand is that they (Emirates) elevated (the case) to the OP. I am not sure if CAB received anything,” Lotilla said. According to him, Emirates is probably following the administrative procedure by elevating the case to Malacanang instead of filing an appeal before the Court of Appeals (CA).  “They should have gone to the CA but they went to the OP. Probably, they are following the administrative procedure,” Emirates said. President Aquino attended the one-off commercial flight by Emirates using the world’s largest passenger aircraft – Airbus A380 – that landed at the recently completed Ninoy Aquino International Airport Terminal 3 (NAIA-3) last Oct. 7. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 CAB last October turned down petition of Emirates to use the unutilized frequency of PAL until March this year. The Middle Eastern carrier filed an appeal before the CAB. While the appeal was pending, CAB granted Emirates a 30-day extension to continue its third daily flight between Manila and Dubai until Nov. 26. Read More …

Philippine stock market: The outperformer

 Economy
Feb 082015
 
Philippine stock market: The outperformer

The Philippine stock market continues its record run as it enters the 7th year of its secular bull market.  Since bottoming out in 2008-2009, the PSE index has been one of the best performing in the world, gaining more than 350 percent.  This year, we at Philequity, expect the PSE index to continue outperforming as it tries to scale above the 8,000 level for the first time.  A standout in the global economic environment The Philippine economy stands out in a global economic environment of “slow and uneven” growth.  The IMF recently raised its Philippine growth forecast while cutting the global outlook, saying the country will get a boost from higher public spending and lower oil prices. In its recent World Economic Outlook update dated January 2015, the IMF expressed concern over the marked growth divergences across major economies.  Among developed economies, only the US rebounded ahead of expectations while economic performance in Japan and Europe fell short of expectations.  Among emerging markets, growth is expected to be lower in China while downward revisions are expected in commodity exporters such as Russia and members of OPEC. This highlights the Philippine economy which the IMF expects to grow by 6.6 percent in 2015 and 6.4 percent in 2016. CBs continue to flood the global economy with liquidity With the exception of the US and Asia, many countries continue to struggle with their respective economies and are still on the easing path.  While the US is preparing to tighten its noose on Read More …

A clueless bureaucrat?

 Economy
Feb 082015
 
A clueless bureaucrat?

For a taxpayer who must work over four months of a year to pay a bureaucrat’s salary, it is frustrating to hear them publicly exposing their lack of knowledge. We all know that the problem of congestion at NAIA is on account of its single working runway. (They have stopped using the other cross runway for safety reasons.) Even if we build 10 terminals there but if there is only one runway, planes will still have to fall in line to take off and circle around to land. That is simple and logical even laymen should be able to understand. Here is how someone with technical knowledge explained the situation for me: “At present the separation between aircraft movements is 1.5 mins. or 40 per hour. On landing that means the aircraft behind you is only six km away and as you slow down for final landing that aircraft is only four km away.  To try to compress the separation is too risky. “On departures, the push back time from the terminal is critical to meet your take off slots. A delay in terminal departures destroys the entire slot program for that hour and creates a domino effect on the other hours. “Yes you will hear guys talking about NAIA doing 60/hr on one runway. They are talking through their ears. That is only possible with a multi-runway airport with the correct ICAO design standards. Yes you can bring aircraft movements close to even 20 to 30 secs separation but Read More …

Best practices guide on contract law

 Economy
Feb 082015
 
Best practices guide on contract law

MANILA, Philippines – Don’t be duped, fooled, or taken advantage by others in business deals and personal transactions because of unfamiliarity on contract law. Life is a series of agreements and it will be useful to understand contract law, especially for non-lawyers in family businesses and for professionals. It’s a life skill that all citizens must know. Don’t be one of the many who have become victims of flawed, void or voidable contracts that cannot be enforced. To help you avoid pitfalls and traps in creating and enforcing agreements, the Center for Global Best Practices is launching a one-day seminar entitled, “Best Practices Guide on Contract Law for Non-Lawyers” on Friday, March 6, 2015 at the EDSA Shangri-La Hotel, Mandaluyong City, Philippines. For details and a complete list of upcoming seminars including How To Prevent, Collect and Prosecute Those With Bouncing Checks, International Trade Training Seminars, HR Laws, Education Law, and more, you may log on to www.cgbp.org or call (+63 2) 842-7148/ 59 and 556-8968/ 69, Cebu lines: (+63 32) 512-3106 or 07 or Baguio line: (+63 74) 423-5148. This pioneering seminar is designed to update professionals, businessmen and non-lawyers about the fundamentals and sticky areas of Philippine law governing obligations and contracts. Knowledge of the substance and form of agreements can prevent serious conflicts and business losses that can snowball into lawsuits and even violence. A legally enforceable contract binds the parties to their respective promises and signals the start of a smooth and continuous relationship for them. Read More …

Government, private sector to fasttrack Clark projects for APEC hosting

 Economy
Feb 072015
 
Government, private sector to fasttrack Clark projects for APEC hosting

MANILA, Philippines – The government and the private sector have decided to fasttrack projects in Clark, Pampanga with the area serving as one of the venues for the Asia Pacific Economic Cooperation (APEC) events this year. In a statement, Clark Development Corp. (CDC) president and chief executive officer Arthur Tugade said the country’s APEC hosting has encouraged both government and the private sector to advance the implementation of their respective projects. The Philippines is hosting the APEC meetings this year. The APEC senior officers meeting started in Clark on January 26. Tugade said projects such as the Clark Rotunda, Clark Museum, Clark 4D Theatre and Clark Integrated Command Center are to be implemented this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The renovation of the Clark Parade Ground, which is in its final stages, is expected to have a rubberized overlay for the jogging path, renovated park bencher, as well as shower room for sports participants upon completion. Tugade said some locator firms in Clark have also advanced the dates of their development plans. Among these locators is Fontana Leisure Parks which is expanding the seating capacity of its convention center to more than 1,800 seats from 500, at present, putting up new villas and rooms and adding 1,000 workers. Oxford Hotel meanwhile, has committed to invest P1 billion in the next five years to put up a new hotel, casino and restaurant with one-stop commercial complex as well as employ 615 individuals. Widus Hotel and Casino Read More …

Digital tweets and thoughts

 Economy
Feb 072015
 
Digital tweets and thoughts

If you have been hurt and offended, I have three things that I want to share with you. These will liberate you: 1. Oscar Wilde says, “always forgive your enemies, nothing annoys them so much.” 2. It’s better to forgive and forget than to resent and remember.  3. Lewis B. Smedes says, “to forgive is to set a prisoner free and discover that the prisoner was you.” Reading these three statements is different from simply hearing them. I write this column and maintain a radio segment. Both have the same name. The words may be the same when heard and read, but the effect on the receiver of the message is different. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 But what about posting the same words in digital platforms like Facebook, Twitter, blogs or even in LinkedIn? The effects are totally different. I post stuff in all of my digital spaces everyday. If I miss a day, that’s probably because I am in an aircraft and I have no access to the Internet. Mark Zuckerberg says Facebook continues to grow in size and engagement, that there are 1.32 billion people connecting on Facebook each month, and 63% of them are daily visitors. Also, there are 650 million people using their mobile services daily. This is a marketing person’s dream and an advertiser’s nightmare. Digital media has radically changed the way business is conducted. Social media has changed the way we live our lives as well. Most people are Read More …

Turkish flour exporters urge probe on smuggling

 Economy
Feb 072015
 
Turkish flour exporters urge probe on smuggling

MANILA, Philippines – The Turkish Flour Yeast & Ingredients Promotions Group (TYFI), a group representing Turkish flour exporters, is calling on the government to conduct an investigation on claims that Turkish flour is being smuggled into the country. In a statement, TYFI chairman Turgay Unlu said the claim made by the Philippine Association of Flour Millers, Inc. (PAFMIL) that Turkishflour is being brough into the country and declared as Indian flour to avoid payment of dumping duties is a serious matter that needs to be looked into. Late last month, the PAFMIL said some 1,800 bags of Turkish flour declared as Indian flour were intercepted by the Bureau of Customs in General Santos City. Imports from Turkish flour milling companies are subject to a dumping duty of 2.87 to 16.19 percent under a Tariff Commission (TC) decisionissued last year. The TC decision was issued following a conduct of formal investigation on a petition filed by the PAFMIL which claimed that local flour couldnot compete with Turkish flour being sold at dumping prices. Flour from India meanwhile, has no dumping duty and has a tariff rate of seven percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Unlu said the TYFI supports a conduct of investigation on the matter. He said that the TYFI opposes fraudulent activities that cast doubt on the conduct of business here. “TYFI takes pride in its corporate culture focused on a set of uncompromising values, specifically integrity and professionalism. The organization, with its entire membership, Read More …

DPWH extends anew deadline for Central Luzon toll project

 Economy
Feb 072015
 
DPWH extends anew deadline for Central Luzon toll project

MANILA, Philippines – The Department of Public Works and Highways (DPWH) has extended anew the deadline for the submission of prequalification documents for the proposed P15 billion Central Luzon link expressway (CLLEX), which will connect Tarlac to Cabanatuan City in Nueva Ecija. DPWH Undersecretary Rafael Yabut said the deadline for the submission of qualification documents for the Public Private Partnership (PPP) project has been deferred to Feb. 23 instead of Feb. 9 to give interested bidders more time to prepare their documents. DPWH Secretary Rogelio Singson earlier extended the deadline to Feb. 9 instead of Feb. 2 to enable the agency to respond to additional clarification or queries raised by prospective contractors or bidders.  “This is to preclude any issue that may arise later during the procurement process. We have to address all the issues or concerns being raised, otherwise, these may again be the causes of the delay in project implementation,” Singson said. The submission of prequalification documents for the first phase of CLLEX  scheduled last Jan. 19 was called off due to the scheduled visit of Pope Francis to the Philippines. This was rescheduled to Feb. 2. Some contractors and bidders have requested that they be given ample time to secure or acquire necessary documents from the country of origin due to the long Christmas holidays. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The first phase of the CLLEX project worth P14.9 billion would cover a 30.7-kilometer four-lane expressway stretching from Tarlac to Cabanatuan City in Read More …

 Older Entries  Newer Entries