Attracting the young and talented

 Economy
Jun 212014
 
Attracting the young and talented

I remember I met a young executive once while I was out on a dinner with friends some long time ago. One of our conversations led to his past employers, and my, I was so astonished to hear that many of his past employers –including the latest one- all happened to be my friends. That night, when I went home, my mind was racing. Why? This young executive was already well connected and worked with so many of my friends already. Isn’t that amazing? Now, fast forward to present day, what if the reason why he worked with so many of my friends already is because there is an acute shortage of valuable workers like him for the office place? I don’t think that there aren’t enough jobs; there aren’t enough good, talented and qualified people for companies to hire. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 People often ask me for referrals, they want someone whom I have known to be a great employee. Let’s ask ourselves? Why? They could simply ask their personnel managers to hire someone competent for them, why do they have to ask me for a referral? Couldn’t they find someone? In a world in which labor markets are fluid, there is a need for leaders who can inspire and impart purpose and through this, productivity increases. We need to attract and shape young professionals to be leaders. The number one challenge of every business organization is ‘ENGAGEMENT’. Simply put, employees are not Read More …

Lucky buyers get chance to go to BMW World 2014 in Singapore

 Economy
Jun 212014
 
Lucky buyers get chance to go to BMW World 2014 in Singapore

MANILA, Philippines – In celebration of BMW’s continued leadership in the premium automotive segment, Asian Carmakers Corporation (ACC), the official importer and distributor of BMW vehicles in the Philippines, will send-lucky BMW buyers to the BMW World 2014, the biggest single-brand motor show, to be held at the Marina Bay Sands in Singapore. Happening from Aug. 1-3, the BMW World 2014 is a grand showcase of the latest and greatest models under the BMW Group – BMW, MINI, Rolls Royce and BMW Motorrad.  The highly anticipated event will serve as the venue for the regional premier of the revolutionary BMW i, with the introduction of the BMW i3 all-electric urban vehicle, and the first plug-in hybrid sports car, the BMW i8.  Visitors will also get a chance to be among the first to see the much awaited all-new BMW M3 and M4 which will be unveiled at the show, together with the all-new BMW 4 Series Gran Coupe and the all-new BMW X4 Sport Activity Vehicle. For every purchase of a brand new BMW vehicle from June 1-30, 2014, buyers are entitled to raffle tickets. Ten (10) winners will be drawn and will get a chance to be part of the all-expense-paid trip to Singapore to attend the BMW World 2014. “In celebration of BMW’s continued dominance in the premium luxury segment, we would like to give our customers a chance to be part of this much-awaited event by the BMW Group,” said ACC president Maricar Parco. “Let this be Read More …

DBS sees BSP raising rates next month

 Economy
Jun 212014
 
DBS sees BSP raising rates next month

MANILA, Philippines – Increasing pressure on inflation may finally prompt the Bangko Sentral ng Pilipinas to raise key policy rates next month, Singapore-based DBS said. “As early as the next policy meeting, we may see a 25bps (basis point) rate hike in the key overnight borrowing rate. Clearly, the central bank is a little concerned with regards to rising inflationary pressures in the economy,” DBS said in a research note. The Monetary Board, during its policy meeting on Thursday kept key policy rates steady but hiked the Special Deposit Account rate by 25 basis points to 2.25 percent. Monetary authorities stressed the inflation path remains within the three to five percent target range although they hiked the forecast average for the year to 4.4 percent from 4.3 percent. Upside risks to inflation include the potential impact of El Niño on food and utility prices, as well as the pending power rate adjustments. “Indeed, we see a good chance for CPI inflation inching just above the five percent mark in 3Q14, which is the upper limit of the central bank’s three to five percent comfort zone,” DBS noted. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Inflation hit a 30-month high of 4.5 percent in May, bringing the five-month average to 4.1 percent.  For next year, the central bank has forecast the rate to average 3.7 percent, up from an earlier projection of 3.4 percent but still within the two to four percent target range. “The tight monetary policy stance Read More …

Other priorities

 Economy
Jun 212014
 
Other priorities

Recently, we heard a popular broadcast commentator chide a lawyer-spokesperson of European pressure group Greenpeace . The commentator was apparently disappointed over the absence of any Greenpeace action as alleged Chinese boats engage in the wanton destruction of marine life in disputed portions of the West Philippine sea. Where are the ships of Greenpeace, the commentator asked the lawyer-spokesperson. He was apparently referring to the famous image of a tiny boat named “Greenpeace” stopping a large sea vessel in a confrontation over environmental issues. The Greenpeace lawyer-spokesperson could only manage a giggle in response to the question. The broadcaster, in subtle dismay, could only conclude that the days when Greenpeace stood for real environmental issues against real enemies of nature are now bygones. In fairness to Greenpeace, to its Philippine operatives in particular, a confrontation with China over the rape of the sea may not be a priority. Instead, its present priority appears to be its confrontation with Filipino scientists who are doing research on the use of biotechnology in agriculture. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 If Greenpeace operatives are not confronting China in the West Philippine sea, it is because they are in a confrontation with Filipino scientists and farmers at the Supreme Court. If Greenpeace activists are not stopping the rape of precious marine life, it is because they are more interested today in stopping Filipino scientists from completing field trials for a biotech eggplant variety. The other priority is stopping Filipino farmers from Read More …

FMIC sees economy, inflation picking up

 Economy
Jun 202014
 
FMIC sees economy, inflation picking up

MANILA, Philippines – The Philippine economy is expected to grow faster in the second quarter to around 6.3 percent as exports and reconstruction spending in Super Typhoon Yolanda-stricken areas accelerate, First Metro Investment Corp. (FMIC) noted in its latest research report. FMIC, the investment arm of the Metrobank Group, however, warned that as the economy picks up in the second quarter, inflation would likely remain higher, fuelled by rising rice prices due to the delayed decision to the import rice and crude oil prices remaining high due to the Middle East and Ukranian crises. But FMIC said the inflation rate may reach its peak during the period.  “However, we will likely see it peak at the same time, as rice and oil prices stabilize,” it said Moreso, it said exports would further improve in the next quarter.  “With the solid economic data emanating from the US economy and the escape of the euro zone from a two-year recession, we expect exports to take a double-digit growth path all the way to third quarter,” it said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “No surprises came from robust overseas Filipino workers’ (OFW) remittances in March, while the Q1 fiscal deficit stood at some five percent of GDP (gross domestic product) as the National Government stepped on the accelerator in terms of spending,” it noted. Despite the slight deceleration in money growth (which kept above 30 percent in April), FMIC noted that the exchange rate appreciated in May, as the Read More …

Peso rises midday Friday

 Economy
Jun 192014
 
Peso rises midday Friday

MANILA, Philippines – The peso rallied against the dollar midday Friday, settling at 43.765 from the previous day’s 43.82. Total volume transacted at the Philippine Dealing System amounted to $355.1 million in the morning, lower than the $371.1 million posted the same period on Thursday. The peso opened Friday at 43.77. 

Aboitiz Power buys into Batangas ecozone distributor

 Economy
Jun 192014
 
Aboitiz Power buys into Batangas ecozone distributor

MANILA, Philippines – Aboitiz Power Corp., the power generation arm of the Aboitiz Group, has bought into Lima Utilities Corp. (LVC)  an electricity distribution utility operating inside the Lima Technology Center in Batangas. In its disclosure to the Philippine Stock Exchange, Aboitiz Power said the acquisition is part of the company’s move to expand its EnerZone brand. “The acquisition of the shares in Lima Utilities Corp.’s is in line with Aboitiz Power Corp. strategy of expanding its EnerZone brand,” the company said. Aboitiz has in its portfolio the Subic EnerZone Corp. (SEZ), which is an electric distribution utility managing the power distribution system of the Subic Bay Freeport Zone. SEZ commenced commercial operations in October 2003. In its disclosure, Aboitiz Power said it acquired eight million shares in LUC from Lima Land Inc. “The agreed enterprise value of LUC was derived by utilizing the commonly used valuation methods: discounted cash flows method and transaction and trading multiples analyses,” Aboitiz Power said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “The seller, Lima Land, Inc. is 100-percent owned by Aboitiz Land Inc. (AboitizLand). AboitizLand is a wholly owned subsidiary of Aboitiz Equity Ventures Inc., the parent company of Aboitiz Power Corp.,” Aboitiz Power also said in its disclosure. Lima Land used to be owned by the Alcantara Group and Marubeni Corp. of Japan but AboitizLand bought the company last year. Lima Land is the owner and operator of the 485-hectare Lima Technology Center, an industrial park registered with the Philippine Read More …

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