AFTER many delays, the Transportation department’s first airport project in the public-private partnership (PPP) pipeline will likely be auctioned off next week, Cabinet members said.
Nov 192013
Nov 192013
THE COUNTRY’S balance of payments (BoP) surplus plunged in October from the previous month, the Bangko Sentral ng Pilipinas (BSP) yesterday reported.
Nov 192013
THE SENATE started plenary debates on the proposed P2.265-trillion national budget yesterday.
Nov 192013
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) said the inflation rate in the Philippines would rise in the last two months of the year following the massive destruction brought about by Super Typhoon Yolanda in the Visayas region. BSP Governor Amando M. Tetangco Jr. said inflation is now seen averaging 3.2 percent this year and 4.5 percent in 2014, both are upward revisions of an October forecast of three percent and four percent, respectively. Tetangco said that the BSP will announce the final full-year inflation forecast on Dec. 12, its last rate-setting meeting. “(This is just) one of the scenarios in our modeling exercise (that will be) firmed up before (the) next policy meeting,” Tetangco said in a text message. Typhoon Yolanda ravaged the Visayas region earlier this month, killing thousands, wiping out villages and destroying billions-of-pesos worth of agriculture and infrastructure. BSP Deputy Governor Diwa C. Guinigundo said the jump in the inflation rate is one of the impacts of the natural disaster given possible supply shocks. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “That’s the staff’s initial assessment considering the effects of the disaster,” Guinigundo said. “(We) will continue to monitor until the last Monetary Board meeting on monetary policy in December,” he added. The Monetary Board has kept overnight borrowing and lending rates at 3.5 percent and 5.5 percent, respectively, since the start of the year. It has been able to do so on the back of the country’s robust economic growth and Read More …
Nov 192013
MANILA, Philippines – Top mobile phone manufacturer Gionee Equipment Co. Ltd. Gives special focus on research and development (R&D) and innovation which has enabled it to ensure the high quality of its smartphones and maintain their competitive edge. Company officials said Gionee’s R&D system consists of six professional entities: Application R&D Institute, Smartphone R&D Institute, Overseas BU R&D Institute, CDMA R&D Institute, GOSO R&D Institute, and AORA R&D Institute. “Gionee’s focus on R&D and innovation is in keeping with its promise to customers to produce the best mobile phone products that are affordable and packed with useful features so they can do more with less,” Gionee Mobile Philippines head Katrin Salanga-Gregorio said. Gionee is one of the biggest mobile phone manufacturers in China after its Gionee Industrial Park went into production in 2006. It aims to become the top mobile phone manufacturer in China after it completes construction of industrial park facility. The Gionee P2 and GN708, sources said, are selling briskly in the Philippines. For inquiries, you may call 470-63-75, or through its official FB Page: https://www.facebook.com/GioneeSmartPhonePh.
Nov 192013
DETROIT — For years, the joke in the auto industry was that a mass-produced car that runs on hydrogen was always a decade away. That will change next year when Hyundai starts selling a Tucson SUV powered by a hydrogen fuel cell. It will be the first mass-market vehicle of its type to be sold or leased in the U.S. “These things are now ready for prime time,” John Krafcik, Hyundai’s North American CEO, said last week. His company plans to announce details of the new Tucson on Wednesday at the Los Angeles Auto Show. Even as the industry focused on battery-powered and hybrid cars, automakers such as Hyundai, Honda and Toyota kept up research on fuel cells. Now they appear to have conquered obstacles such as high costs, safety concerns and a lack of filling stations. These vehicles could help the companies meet stricter future fuel-economy standards. Automakers have been dabbling in hydrogen-powered cars since the 1960s. General Motors announced a test fleet of hydrogen-powered Chevy Equinoxes in the mid-2000s, and Honda leased about two-dozen FCX Clarity models for $600 per month starting in 2005. President George W. Bush allocated $1.2 billion for hydrogen research and said in his 2003 State of the Union address: “The first car driven by a child born today could be powered by hydrogen and pollution free.” But the program was largely scrapped by the Obama administration, which focused more on battery-powered vehicles. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Hyundai now Read More …
Nov 182013
THE SENATE version of the 2014 national budget bill was approved at the committee level yesterday, putting the bill on track for approval before the Senate adjourns on Dec. 21.
Nov 182013
PRODUCTION of rice and corn this quarter is expected to be less than forecasted by the Bureau of Agricultural Statistics (BAS) due to the damage to agriculture by super typhoon Yolanda, the Department of Agriculture (DA) chief said yesterday.
Nov 182013
MORE than a week after the devastation left by super typhoon Yolanda (international name: Haiyan), the outpouring of disaster-relief donations from all over the world hasn’t shown any signs of slowing down.
Nov 182013
Millions of Filipinos have been left homeless by Typhoon Yolanda, while the cost of the damage has been initially placed at more than P10 billion – and it’s obvious that rehabilitation will require massive resources and gargantuan efforts. The death toll continues to rise even as we write, but it’s quite clear to everyone that the focus should be on helping the survivors who are in need of food, water, medicines, clothes and shelter. Despite the devastation, Filipinos are heartened by the compassion and support coming from many local companies who are all stepping up to the plate, initiating their own fund drives, forsaking planned Christmas celebrations, and conducting relief operations. Major businesses are displaying corporate social responsibility (CSR) through corporate foundations, among them the Aboitiz group which initially raised P30 million. Aboitiz Equity Ventures president Jon Aboitiz told me they have a target of raising P200 million and that they are now “close to it,” realizing that there is much to be done but that we will be able to do it as a nation. Another conglomerate that has also been in the thick of relief efforts is the SM Group that has allocated P100 million in calamity funds for the rebuilding of homes, community centers and schools in disaster affected areas most particularly in Tacloban, Samar, Ormoc, Capiz, Iloilo, Cebu and Bohol that also suffered from a 7.2 magnitude earthquake. The SM Group via SM Cares is doing a fantastic job, having sent over 50,000 relief packs and Read More …