ECJ in isolation

 Economy
Feb 032014
 
ECJ in isolation

Retired business tycoon Eduardo “Danding” Cojuangco Jr. or ECJ is recovering very well from the kidney transplant he underwent, with the procedure performed locally at the St. Luke’s Medical Center in Bonifacio Global City early in December last year. The 78-year-old businessman told us he gained a few pounds but he says he hopes to lose it just as quickly. ECJ has been advised by his doctors to keep himself in isolation for the next six months to avoid getting infected by people with coughs or colds. He has been receiving a steady stream of visitors, mostly close personal friends and relatives who regularly drop by and chat with him through an enclosed glass living room.  Visitors are received in the dining area with a glass divider through which they can see ECJ and talk to him through a microphone. The San Miguel chairman keeps himself busy watching DVDs, getting updated with current events through news reports on television and going over some papers – exactly what a retired business tycoon does. ECJ has left everything including major decisions to his lieutenant (Ramon Ang) who runs San Miguel Corporation and all the other businesses under the SMC Group. Once he is fully recovered, the founder of the Nationalist People’s Coalition party plans to travel around the country to see how and where he can help fellow Filipinos improve their lives. He told us he will also continue providing scholarships to students through the Eduardo Cojuangco Foundation, with scholars provided with Read More …

Biggest PAL booth at Travel Expo 2014

 Economy
Feb 032014
 
Biggest PAL booth at Travel Expo 2014

MANILA, Philippines – This year’s Travel Tour Expo (TTE) of the Philippine Travel Agencies Association (PTAA) will have Philippine Airlines’ (PAL) biggest-ever participation at any trade fair – at 1,100 square meters – to accommodate the volume of customers availing of PAL’s low-priced tickets that can only be bought at the TTE from Feb. 14 to 16, 2014. The huge PAL booth at the second floor of the SMX Convention Center, Pasay City, will have more than 50 ticket counters and various amenities to keep customers entertained while waiting to be served. Dedicated counters will also make queuing less stressful for Elite and Premium Elite Mabuhay Miles members. Rock-bottom tickets that entitle passengers to full-service amenities annually attract overflow crowds to the PAL booth that will be manned by more than 50 ticketing agents from 10 a.m. to 9 p.m. to handle all types of transactions. PAL is a platinum sponsors and official airline of this year’s 21st TTE, having been a regular participant since its inception by PTAA in 1994. Last year, TTE had approximately 76,000 visitors to the more than 500 booths that were used by 235 exhibitors. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Understanding the oil and gas industry

 Economy
Feb 022014
 

WE LIVE in a world powered, if not driven, by fossil fuels. Until more strides in green energy and technology can be made, fossil fuels will continue to impact every sector of society. Given the importance of oil and gas to our national development, however, care should be taken that they are used and accounted for correctly, to promote transparency, financial accuracy and sustained investor confidence.

ePLDT unit partners with HK-based Nexusguard

 Economy
Feb 012014
 
ePLDT unit partners with HK-based Nexusguard

MANILA, Philippines – IP Converge Data Services Inc. (IPC), a unit of e-PLDT of dominant carrier Philippine Long Distance Telephone Co. (PLDT), has tapped Hong Kong-based Nexusguard to provide Internet security for its enterprise customers. Nexusguard vice president for sales and marketing Bill Barry said the partnership would help further strengthen IPC’s product offerings and protect Philippine businesses from what experts consider to be the most costly cybercrime particularly the distributed denial of service (DDoS) attacks. “IPC is a respected technology provider in the Philippines, and it is an honor to partner with such an established organization. This partnership is not only important for our regional efforts, but will serve as a template of success for Nexusguard’s global initiatives,” Barry said. He said the partnership would enable enterprises in the country to avail of world-class and industry-leading anti-DDoS services with truly localized support with Nexusguard’s technologies and IPC’s market leadership in cloud and data center services. “It will also set a standard for ISPs in providing future integrated, holistic solutions for DDoS protection,” he added. Escalating in size and complexity in recent years, he warned that DDoS attacks attempt to prevent a machine or network resource to be accessed by its intended users. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 It is generally comprised of strategies to interrupt services of a host connected to the Internet. DDoS attacks are able to bring down networks and websites for days at a time. Hackers have launched DDoS attacks for various Read More …

Purisima named Finance Minister of the Year anew

 Economy
Feb 012014
 
Purisima named Finance Minister of the Year anew

MANILA, Philippines – Finance Secretary Cesar Purisima has once again been recognized as Finance Minister of the Year for Asia-Pacific.   In recognition of his role in improving fiscal efficiency, instituting reforms against corruption, and elevating the Philippines in the eyes of international investors, the award from The Banker marks Purisima’s fourth straight year in receiving Finance Minister of the Year honors from different award giving bodies, a first in the history of the finance department and in the Philippines.  Purisima emphasized his fourth award naming him Finance Minister of the Year is a testament to President Aquino’s guiding principle that good governance is good economics. Purisima thanked the President for his leadership and commitment to accountability and transparency, as well as his colleagues in the cabinet and fellow members of the cabinet’s Economic Development Cluster. Working together, they have achieved the economic gains for which Purisima is being honored. The country’s economy recently posted a 7.2 percent growth in 2013. Since the start of the Aquino administration, the Philippines has maintained an average of 6.3 percent growth and remains to be one of the fastest-growing countries in Asia.  While the Philippines continues to improve its economic outlook with record-high GDP growth rates, investment grade ratings from major credit rating agencies, and strong macroeconomic fundamentals, Purisima stressed the current administration’s term is only half-done. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “Our goals for 2014 include improving the revenue to GDP through the ongoing reforms in the Bureau Read More …

Emerging Power to launch Mindoro geothermal plant

 Economy
Feb 012014
 
Emerging Power to launch Mindoro geothermal plant

MANILA, Philippines – Emerging Power Inc. (EPI), a Mindoro-based power company, will launch its 40-megawatt geothermal power plant, a move seen to help bring down power rates in the province by about 40 percent to P6.58 per kilowatt-hour from the current P11 per kwh. This will mean a savings of at least P2.1 billion in four years, according to estimates made by EPI. The geothermal facility will be located in the barangays of Montelago, Montemayor and Melgar-B in Naujan, Oriental Mindoro and will supply 20 MW to Occidental Mindoro Electric Cooperative (Ormeco). EPI spokesperson Gani Capaning said the facility would help address the problem of power outages and high electricity costs in the province. “If we keep investing in coal and oil, consumers will be paying P40 per kilowatt-hour by year 2030 if we are to use the estimates of institutions like the International Energy Agency (IEA) and The Economist. In contrast, the Montelago geothermal power plant will stabilize the price over the next 20 years and consumers will only pay a maximum of P7.50 per kwh by 2030,” Capaning said. Ormeco president Audel Arago, for his part, said the facility would help augment power supply in the province. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  “As we anticipate the Montelago geothermal power plant’s commissioning and operation in (2016), we look forward to the positive economic and environmental impact it will bring, when our consumers shall have been accorded more affordable electricity drawn from renewable energy,” Arago said. Read More …

Telcos heat up battle for post paid market

 Economy
Feb 012014
 
Telcos heat up battle for post paid market

MANILA, Philippines – Rivals Philippine Long Distance Telephone Co. (PLDT) and Globe Telecom Inc. launched new plans for subscribers as the battle in the postpaid segment of the telecommunication market continues to heat up. Charles Lim, executive vice president and head of wireless consumer business of Smart Communications Inc. and Digitel Mobile Philippines Inc. (Sun Cellular), said the PLDT Group has launched the Unli Tri-Net Call & Text Plan 899 allowing postpaid customers unlimited voice and SMS connections to all mobile users subscribed to Smart, Sun Cellular and Talk ‘N Text. Lim said the “ultimate” postpaid plan is designed to make unlimited calls and texts to over 72 million mobile users of the PLDT Group. “No other unlimited postpaid plan has been designed to give three times more power connecting you to more than 70 percent of mobile phone users in the country. With the combined power of Smart and Sun Cellular’s mobile network, our subscribers are also assured of the most extensive and reliable coverage available under one postpaid plan,” he stressed. Subscribers of the Unli Tri-Net Call & Text Plan 899 would also get to choose the smartphone of their choice from the lined-up handset offers of Smart and Sun Cellular. “We have been offering a wide range of smartphones – from the high-end to entry-level models – bundled with our equally wide array of postpaid plans that suit our consumers’ budget and lifestyle,” Lim added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Unli Tri-Net Read More …

DTI to set up assistance centers in areas hit by Yolanda

 Economy
Feb 012014
 
DTI to set up assistance centers in areas hit by Yolanda

MANILA, Philippines – The Department of Trade and Industry (DTI) is planning to put up business assistance centers and shared service facilities (SSF) in areas hit by Super Typhoon Yolanda. “Right now, what we are looking at for Yolanda affected areas is to set up business assistance centers. We are talking with mayors to find out where MSMEs (micro, small and medium enterprises) can go to, to ask for assistance so they can get back on their feet,” Trade Undersecretary Zenaida Maglaya told reporters. Aside from having business help desks in the areas damaged by the typhoon, she said the DTI likewise intends to provide SSFs for the use of MSMEs. “We will provide for SSFs for coco lumber and hollow block making,” she said. The SSF involves the setting up of common service facilities or production centers for certain processes to give MSMEs access to better technology and more sophisticated equipment. The program is being undertaken to help MSMEs become competitive and tap a wider market. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Maglaya said the department is studying what other support can be provided to help businesses in the area. “We are really looking at how we can help MSMEs recover from the typhoon,” she added. To encourage companies to set-up operations in the areas damaged by the typhoon, Trade Secretary Gregory Domingo said earlier the government is looking at crafting a new bill that will give special treatment or duty-free entry for goods such as Read More …

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