THE ENERGY department plans to award the contract to supply and deliver the first 3,000 units of electric tricycles (e-trikes) in December as it proceeds with the evaluation of the bids received in an auction in August, an official said over the weekend.
IN EY’S latest Capital Confidence Barometer, 1,500 senior executives in 41 countries were polled, and a quarter of the respondents said they will not do a deal because of the gap in the price expectations between sellers and buyers or investors.
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is reviewing forecasts for foreign direct and portfolio investments, remittances, and other balance of payments components to take into account the latest developments that could affect inflows of capital into local financial markets. BSP Deputy Governor Diwa C. Guinigundo told reporters the central bank has already started reviewing projections for the country’s balance of payments (BOP) position. “We are reviewing that now. Not only the overall balance of payments, the current accounts, financial and capital accounts, but also the components,” Guinigundo said. The central bank revisits its forecasts for said indicators twice a year, usually in April and in October. The revised figures following the second review, meanwhile, are announced in November or in December. The review will take into account developments that could impact capital inflows to the country, along with remittances. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The balance of payments position is a summary of a country’s transactions with the rest of the world. Its components include imports of goods and services, merchandise exports, foreign direct investments, hot money, remittances, and other investments. Latest central bank data showed the country has seen a BOP surplus of $3.359 billion in the eight months to August, already 76 percent of the BSP’s full-year forecast of $4.4 billion. Foreign direct investments, meanwhile, summed up to $2.615 billion as of July, above the BSP forecast of $2.2 billion. Foreign portfolio investments or hot money already totaled $2.007 billion as Read More …
MANILA, Philippines – The Center for Global Best Practices (CGBP), in collaboration with Isla Lipana/ PriceWaterhouseCoopers, is holding a one-day seminar on “Best Practices in Financial Processes and Controls” on Friday, October 25, 2013 at Edsa Shangri-la Hotel, Mandaluyong City, Philippines. Participants in this special program will learn the best practices in how to design and implement financial controls that will safeguard your assets, enhance integrity of financial reports, and protect you from business operational risks. Whether you are a corporate giant or a small family owned firm, your business systems and operational processes can only function efficiently and effectively if you have the right internal controls. Left unchecked and not given attention, your internal control system is where much “hocus pocus”, such as fraud, theft, fake financial transactions and other business crimes, often take place. Effective internal controls are crucial to a company’s operations. It is your “regulator” and defense against losses in key areas like procurement, payroll, sales, cash disbursements and other business activities needed to complete a business transaction. Internal controls can “help an entity get to where it wants to go, and avoid pitfalls and surprises along the way”. The principal lecturer for this program is Roderick Danao, CPA, who is the newly appointed vice-chairman of Isla Lipana/ PriceWaterhouseCoopers. He held the position of being the assurance and Learning and Education partner for five years and Audit Methodology leader for seven years. He has over 20 years experience in accounting, audit and business advisory practice both in private Read More …
MANILA, Philippines – German manufacturing giant Henkel is transferring two revolutionary technologies to its local partner, the Monheim Group of Companies (MGC), for the marketing and distribution of laundry products in the Philippines. Henkel is sharing to MGC the fiber rebonding technology, which is the formula behind Perwoll liquid detergent, and the fabric ionizer formula, which is the technology behind Vernel Soft – fabric softener. MGC president Gino Baltao said “German technologies are among the best in the world. We are proud to bring these technologies to the Filipinos through Perwoll Brilliant White and Vernel Soft.” Baltao said with the Henkel technologies, MGC would proceed with its P300-million investment to grow Henkel’s laundry and home care business in the Philippines. The investment will be pumped into the technology transfer, research and product development, raw materials importation and brand building. “The Monheim Group is committed to delivering the cutting-edge German quality fabric softeners and laundry detergents with a strong advocacy to protect our environment. The technology transfer between Henkel Germany and the Monheim Group assures the Filipinos of that commitment,” Benjie Ros, MGC treasurer said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The technology transfer marks the fusion of a global company and a Filipino-owned firm to pursue business expansion. “We need local expertise and we think we can grow much faster with Monheim as our partner. We can take advantage of so many synergies,” Thomas Jungmann, director for global business development of Henkel’s Laundry & Home Care, said. Read More …
MANILA, Philippines – Sun Cellular, a unit of dominant carrier Philippine Long Distance Telephone Co. (PLDT), is set to offer best-value data solutions and more innovative communications offerings to help local governments nationwide to modernize public service. Corrine Zablan, assistant vice president for strategic sales partnership of Sun Cellular, said the telecommunications provider intends to fuel the modernization of public service and local governance nationwide. Zablan cited its partnership with the local government of Gen. Trias, Cavite for the provisioning of a 24/7 hotline system covering all government units and barangays of the municipality. Sun Cellular has been extending its renowned unlimited call and text services to power up a unified communication channel for Gen. Trias since August 2008, helping the municipality in terms of information dissemination and in making public service even more accessible to all constituents. “We are very proud to be part of this endeavour of marrying innovation and public service. Apart from the consumer and commercial level, we recognize the vital role of communications in maintaining peace and order, and in fostering transparency and strong ties within the community,” Zablan added. The hotline system through the “Serbisyo 24/7” Text Hotline and the “Mayor’s 24/7” Call and Text Hotline comprise of 220 mobile and wireless desk phones in all 33 barangays of the municipality including public schools, social service offices, civil groups and homeowner associations. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The hotline system has been instrumental in sending text broadcasts of public service Read More …
MANILA, Philippines – The National Grid Corporation of the Philippines (NGCP), the operator of the country’s power never transmission highway, said several transmission lines and other facilities are still undergoing restoration work. NGCP said the loss of power currently being experienced in various parts of the country may be caused by affected transmission facilities of either NGCP, the distribution utilities or electric cooperatives. “Necessary preparations and precautions have been implemented to minimize the impact of the storm on NGCP operation and facilities. These include ensuring the availability of hardware materials and supplies necessary for the repair of damages to facilities, as well as the positioning of line crews in strategic areas, to facilitate immediate restoration work,” the company said in an advisory yesterday. Restoration work will be in full swing as soon as the weather allows it, NGCP also said. According to its advisory, 14 transmission lines are still undergoing restoration works. These are: • Bacnotan-San Esteban 230-kv line Business ( Article MRec ), pagematch: 1, sectionmatch: 1 • Botolan-Candelaria 69-kv line • Botolan-Castillejos 69-kv line • Mexico-Cabanatuan 230kV line • Mexico-PELCO 69kV line • Mexico-SKK40 69kV line • Mexico-Clark 69kV line 1 • Mexico-Clark 69kV line 2 • Cabanatuan-Bongabon-Baler 69kV line • Cabanatuan-San Isidro 69kV line 1 • Cabanatuan- CELCOR/FCVC 69kV line • Cabanatuan-San Isidro 69kV line 2 • Cabanatuan-Pantabangan/MHEP 69kV line
MANILA, Philippines – Pepsi Cola Products Philippines Inc. (PCPPI) president Partho Chakrabarti has underscored “building an atmosphere of trust” in the company’s employer-employee relationship as a key factor in PCPPI’s continuing growth in the highly competitive soft drinks industry. Speaking at the recent Towers Watson Talent Management Summit in Makati City, Chakrabarti shared Pepsi’s experience in maintaining high employee satisfaction and engagement ratings based on annual surveys conducted by Towers Watson. The survey results showed PCPPI registering 91 percent for employee alignment with goals and objectives, 86 percent for values formation, and 89 percent for communication. Chakrabarti identified three “strategic imperatives” used in Pepsi’s employee empowerment program: communicating constantly and meaningfully; setting the tone with inspired leadership; and getting the people excited about their role in the company. Pepsi’s dramatic growths over the past years have been largely attributed to personnel-oriented initiatives generated by its Organizational Development Unit. With the view of transforming PCPPI into a globally competitive company, Chakrabarti believes in arming the company’s 3,000-strong workforce with entrepreneurial skills necessary to survive in a borderless economy.
WASHINGTON (AP) — The partial government shutdown has left high-skilled immigrant workers and the companies that employ them in limbo. The Labor Department’s Office of Foreign Labor Certification is closed and applications for job changes, new hires or any other adjustments for foreign workers are on hold until the government reopens. Laura Foote Reiff, a Northern Virginia immigration attorney, said while the Labor Department remains closed any business in the process of hiring foreign workers who already have a valid visa may also be missing various filing deadlines, which could force companies to start the complicated hiring process over again. “It can be costly and time consuming,” Reiff said. The Labor Department said Friday that it could not answer questions about the issue because the shutdown had closed the Office of Foreign Labor Certification. Reiff said government contractors whose projects are on hold during the shutdown face a dilemma: to furlough or fire foreign workers. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Because of the conditions on the high-skilled visas, even furloughed foreign workers have to be paid. If a company decides to fire the worker, that firm is then faced with starting the arduous hiring process over again. And for the foreign worker, taking a temporary unpaid furlough or losing the job altogether means they are violating the terms of the visa, which could cause problems in the future if they try to renew a visa or change immigration status. There is no grace period for immigrant Read More …
MANILA, Philippines – Global Electric Transportation Ltd. (GET) is aiming to deploy 50 units of its fully electric city shuttle, dubbed the City Optimized Managed Electric Transport (Comet), by 2014, its top official said. The initial routes will ply from SM North EDSA to SM Megamall, said GET chief executive officer Kenneth Montler. “GET was formed by a group within the US and the Philippines. The Philippines is a great place to showcase what we want to do because we have a city that suffers from congestion, noise and air pollution,” he said. The Comet can comfortably seat 16 passengers with a height clearance of over six feet. It also charges on a 220-volt outlet, with its charging system built into the vehicle requiring only a four-hour charge time and has a range of 80 to 100 kilometers on a full charge, GET said. The vehicle uses lithium-iron phosphate batteries that are enclosed in a watertight casing and consists of less than 300 parts instead of the usual 4,000 parts of a typical diesel-run engine, which translates to cost-efficient manufacturing and minimal maintenance, Montler also said. The Comet will apply a cashless fare system to ensure secure fare collection, so drivers can focus their eyes on the road, similar to systems implemented by transportation companies in other countries, he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Fleet management, meanwhile, will be handled by GET’s Command Center through GPS and Vehicle Telemetry Tracking, the company said. For its Read More …