Market bull run continues for 6th year in 2014

 Economy
Dec 292014
 
Market bull run continues for 6th year in 2014

MANILA, Philippines – Local stocks ended the year higher for the sixth straight year, rising 22.8 percent in 2014 to remain among the region’s outperfomers. The main-share Philippine Stock Exchange index gained 0.62 percent or 44.25 points to close at a two-week high of 7,230.57 on the last trading day of the year, tracking the yearend rally in most Southeast Asian stock markets. Asian shares  rallied along with crude oil  with investors increasingly optimistic about China boosting lending and economic growth. Crude prices rebounded amid speculation an escalating conflict in Libya will help ease a global supply surplus. The local stock rose by  a modest 1.3 percent  in 2013, a far cry from the 33-percent gain a year earlier.  In 2009 to 2011,  the index went up by 63 percent, 38 percent and four percent, respectively. The local stock market will be closed from Dec. 30 to Jan.2 and will reopen on Jan. 5. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Value turnover reached P8.44 billion with about  1.04 billion shares changing hands.   Advancers edged out losers  111 to 75, while 42 issues were unchanged. By counter, the industrial sub-index led the rally,  logging in a  1.16-percent rise followed by the holding firms and mining sectors which went up .75 percent and .60 percent, respectively. Among the most actively traded stocks were PLDT, Alliance Global, Universal Robina, Metrobank and Ayala Land. Accord Capital Equities Inc.’s JUn Calaycay remains optimistic on the local market’s prospects for 2015. “Much is Read More …

Phl pushes duty-free privilege for Yolanda goods

 Economy
Dec 292014
 
Phl pushes duty-free privilege for Yolanda goods

MANILA, Philippines – The Philippines will actively push for a proposal seeking for the duty-free entry of goods produced in areas hit by Super Typhoon Yolanda to the US in the first quarter of next year, the Department of Trade and Industry said.  “We’ll see in the first quarter of next year. We’ll make a push for it,” Trade Secretary Gregory Domingo told reporters. He said the Philippine government will have to wait until early 2015 to press for the draft bill which will give duty-free  access of goods produced in areas devastated by Typhoon Yolanda to the US. Domingo said the government already has a draft bill, but will still need to find a sponsor for the proposal.  The proposal is being pursued to help spur economic activity in the typhoon-affected areas.  Domingo said there are opportunities for firms engaged in the manufacture of garments, handicraft and food products in the typhoon-affected areas. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Earlier, the government was pushing for the Save Our Industries Act (SAVE) which seeks to give duty-free entry for Philippine-made apparel using American fabrics to the US. The SAVE Act first filed in Washington in 2009, is considered the key to save the local garments sector amid the decline in export sales and jobs after the World Trade Organization’s elimination of quota on shipments in 2005.

DOTC nixes NAIA runway project

 Economy
Dec 292014
 
DOTC nixes NAIA runway project

MANILA, Philippines – The Department of Transportation and Communications (DOTC) has totally abandoned plans to put up a P2.4 billion parallel runway and is instead looking at putting up a new passenger terminal building to accommodate passengers at the congested Ninoy Aquino International Airport (NAIA). Transportation Secretary Joseph Emilio Abaya is now looking at putting up a new passenger terminal building in the supposed location of the proposed parallel runway and at the same time push through with the NAIA runway optimization project. The proposed 2,100-meter parallel runway was supposed to increase airport capacity shortfall by allowing more take-offs and landings. However, Abaya said a Netherlands-based consultant recommended the construction of a new terminal instead of putting up a parallel runway. The DOTC has tapped To70 managing director Ruud Ummels to study the feasibility of the proposed NAIA Terminal 5 in front of the Lufthansa Teknik Philippines. The Netherland’s based company edged US-based MITRE and NATS of the United Kingdom that pused for the construction of a parallel runway to increase the capacity of NAIA’s intersecting runway to about 60 to 70 movements per hour or about 40 per hour. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The consultant said the main thing to do is preserve your main runway, maximize your main runway, try to eliminate all forms of obstructions or delays on it, keep planes off it most of the time. Given that as your main objective in runway optimization, planes crossing that is definitely not Read More …

YEARENDER: Targets remain attainable – DA

 Economy
Dec 292014
 
YEARENDER: Targets remain attainable – DA

MANILA, Philippines – With only a year and a half left before the end of the Aquino administration, the Department of Agriculture (DA) remains confident it can attain the production targets under its key programs. Agriculture Secretary Proceso Alcala said for the coming year, the department would build on the gains of its major programs for food staples, animal industry and high-value crops as it strives to strengthen the value chain in various farm subsectors. For the remaining period of the current administration, at least, the department would strengthen further the support provided for producers of major food staples such as rice and corn under its flagship Food Staples Sufficiency Program (FSSP). The Philippines last July succeeded in securing an extension of its quantitative restriction (QR) on rice imports until 2017. This entails increasing the volume of rice that can enter the country at a reduced, albeit still high tariff. The continued imposition of high tariff on imported rice is expected to help build the competitiveness of Filipino farmers amid the full integration of Southeast Asian economies in 2015. Having completed all the legal requirements with the World Trade Organization (WTO) in November, the Philippines will allow beginning Jan. 1, 2015 the entry of 805,200 metric tons of imported rice-755,200 MT of country-specific origin and 50,000 MT of omnibus origin-at a tariff of 35 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Alcala said the department would maximize the borrowed time for the protection of farmers by expanding Read More …

2015: a year for awareness and action beyond borders

 Economy
Dec 282014
 

THOSE with their ears to the ground may have got the sense that 2015 holds promise, while also realizing that extracting that potential will not be straightforward. It will require creativity, patience and persistence. The business landscape is becoming harder to predict due to the faster pace of transactions, complex web of interdependencies, geopolitical uncertainty, spillovers from natural and man-made disasters, domestic wrangling in top economies, evolving regulatory landscapes, and the changing cast of lead players.

UNO Premier launches in grand style

 Economy
Dec 282014
 
UNO Premier launches in grand style

MANILA, Philippines – Celebrities converged for a night of glitz and glamour as Unlimited Network of Opportunities Inc. International (UNO Intl.) introduced its newest brand for the highend market, UNO Premier. Held at the Enderun Colleges at the Fort, among the celebs spotted were Jean Garcia, Viv ian Velez, basketball player Don Allado and many others. The affair started with audiovisual pre sentations about the milestones of its mother company, UNO, and the introduction of its new, luxurious and highquality product line under the UNO Premier brand. The company is proud of its tradition as the leading network marketing company in the country, dwarf ing other competitors with its over 500,000 strong members/ distributors worldwide. The collective presentations of trailblazing UNO Board members William Barbo, Oliver Chua and Herbie Chua also showcased the new digital media arms of the company such as the UNO Premier website, UNO Apps and Facebook page. They also highlighted a new, prestigious office address at The Fort, Taguig. Oliver Chua introduced Le Jeune Cosmetiques, a luxurious makeup line that includes Le Jeune Minerals, cosmet ics infused with the opulence of 24karat gold microparticles, and delivered with the finest natural ingredients sourced from Japan, Switzerland and Germany. The line also includes Mineral BB Foun dations, Multipurpose Mineral Eye shadows, Mineral Lip Lacquer, Mineral Lip and Cheek Tint. Each set contains a powder brush and dual eyeshadow/ eyeliner brush made of the highest qual ity softest vegan hair, to ensure precise and perfect application. He also unveiled Read More …

Busy executive chills out through laser therapy

 Economy
Dec 272014
 
Busy executive chills out through laser therapy

Finding time to chill out is a luxury for restaurateur Annabel Tanco of the Bizu Groupe (Bizu Patisserie, Le Petit Bizu, Zigla! and Thaicoon). As founder, chair and CEO of the group, Annabel, or Annie as she is fondly called by friends, has been overseeing the day-to-day business of the Bizu Groupe restaurants for more than 14 years now. “I’m on the go all the time,” says Annie, “and sometimes my stress levels are sky high. However I discovered a new treatment here in Manila and I am amazed how it can keep my endorphin high, making me look and feel well despite the many chores I have to do.” Annie is talking about laser therapy and how her regular one-hour-a-week treatments at Anne Penman Laser Therapy Manila are transforming her life. “The moment the laser probe is turned on, I fall asleep almost immediately. After a long week’s work, I find complete solace in the cozy room where the treatment is being done,” she says. She says she gets rested and relaxed as Mack Macasaet-Benauro, her therapist and owner of Anne Penman Laser Therapy Manila, does her trick on her while a low hum of Bossa Nova music and soothing scent of peppermint fill the air. “For a moment, my world stands still and becomes silent while a soft red beam of light is focused on my ears, nose, arms and legs. As I wake up, I feel totally relaxed and rejuvenated. My busy and confused mind turns into Read More …

Oman Air seeks to impose fuel surcharge

 Economy
Dec 262014
 
Oman Air seeks to impose fuel surcharge

MANILA, Philippines – Oman Air has filed a petition before the Civil Aeronautics Board (CAB) seeking to impose a fuel surcharge for its flights between Manila and Muscat. The designated carrier of the Sultanate of Oman is set to impose a fuel surcharge of $160 for each business class passenger and $130 for each economy class passenger for the Manila-Muscat route. Manila became Oman Air’s 44th international destination when the airline started flying between Manila and Muscat last Dec. 2. It currently flies between the two destinations three times a week. Oman Air chief executive officer Paul Gregorowitsch said the airline is looking at mounting daily flights to the Philippines to accommodate the growing number of passengers, particularly Filipinos living and working in the Middle East. “We are highly confident that we can not only operate three times or four times a week but the daily operations will be having an economic viability,” he said. Gregorowitsch pointed out that the airline expects high load factor during the Christmas season. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The season holidays are up coming and many people from the Philippines working and living in the Middle East are using this opportunity to take advantage of our attractive fares,” he added. The official said there are about 33,000 Filipinos working and living in Oman. According to Gregorowitsch, the airline wants to initially increase the service four weekly flights to Manila and to a daily service including other airports in the Philippines. Read More …

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