ADB cites top telcos, food companies for inclusive biz models

 Economy
Sep 142013
 
ADB cites top telcos, food companies for inclusive biz models

MANILA, Philippines – Top telecom firms Smart Communications and Globe Telecom, Jollibee Foods Corp. and Nestlé Philippines were among the corporations cited in an Asian Development Bank (ADB) report focused on inclusive business (IB). The ADB report defines IB as a commercially viable and profit-making private company whose core business is designed to address pressing social needs of the poor and vulnerable people below the $3 international poverty line, sometimes referred to as the base of the income pyramid. However, the report made it clear that IB is entirely different from corporate social responsibility (CSR), social enterprise or microfinance. “Companies adopt IB primarily to create shared value, increase sales, enhance company reputation and develop the ability to maintain a stable of supply of inputs,” the report, which was co-sponsored by the Philippine Business for Social Progress (PBSP) and the Asian Social Enterprises Incubator (ASEI), said. IBs are still concentrated in a few sectors, such as the agricultural sector (24 percent) followed by the financial services sector (14 percent) and the manufacturing sector (10 percent). IB companies in others sectors (IT, energy, education, health, and transport and logistics) are fewer but exhibit profitable IB models. Smart and Globe were cited for bringing mobile communications to the lower segment of society through their prepaid e-loading network. Both telcos also started microfinance mobile banking operations. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the food and beverage sector, Jollibee was cited for starting its Farmer Enterpreneurship Program, and subsequently expanding its Read More …

1,700 daily passengers affected due to Zambo airport closure

 Economy
Sep 132013
 
1,700 daily passengers affected due to Zambo airport closure

MANILA — Cebu Pacific Air Inc. (Cebu Pacific) is closely coordinating with the government for the re-accommodation of passengers affected by the Zamboanga Airport temporary closure due to the ongoing crisis in Zamboanga city. Lance Gokongwei, Cebu Pacific president and chief executive officer, on Thursday said at least 1,700 passengers of the airline have been affected daily since the airport has been ordered temporarily closed on Wednesday. “We are giving them (passengers) option. They can rebook their tickets or we can refund them,” Gokongwei said in a press briefing shortly after the arrival ceremony of the airline’s newest aircraft, the long range Airbus A330 here. He said he can only give a figure on affected passengers and begged off when asked how much the airline is losing due to cancellation of its flights to and from Zamboanga. Cebu Pacific flies to Zamboanga four times daily from Manila, once daily from Cebu and Tawi-Tawi, three times weekly from Cagayan de Oro City, and four times weekly from Davao City. On Friday, Cebu Pacific arranged two special flights from Tawi-Tawi to Cebu to accommodate passengers who are travelling for the Hajj Pilgrimage. Cebu Pacific’s daily flights between Zamboanga and Tawi-Tawi have been suspended since September 9. Upon arrival in Cebu, passengers were re-accommodated on scheduled Cebu Pacific flights from Cebu to Manila on the same day, an advisory said. The Civil Aviation Authority of the Philippines, meanwhile, has extended the suspension of Zamboanga Airport operations from September 13 to 16 due to Read More …

After 2 consecutive years of improvement: Overall New-Vehicle Sales: Satisfaction in Phl declines

 Economy
Sep 102013
 
After 2 consecutive years of improvement: Overall New-Vehicle Sales: Satisfaction in Phl declines

MANILA, Philippines – Despite strong first half improvements in new-vehicle sales in the Philippines, overall satisfaction with the new-vehicle purchase experience has declined in 2013, according to a J.D. Power Asia Pacific 2013 Philippines Sales Satisfaction Index (SSI) Study released recently.   Now in its 13th year, the study examines seven factors that contribute to overall customer satisfaction with the purchase experience. In order of importance, they are delivery process; delivery timing; salesperson; paperwork; deal; sales initiation; and dealer facility. SSI performance is reported as an index score based on a 1,000-point scale, with a higher score indicating higher customer satisfaction.  Overall sales satisfaction averages 846 in 2013, down nine points from 2012. The decline in satisfaction is driven by lower scores across all factors, most notably in salesperson. “Managing the expectations of new-vehicle buyers is a crucial aspect of the salesperson’s responsibility at dealerships, and this is where the communication and following through on commitments hold the greatest value in sales satisfaction,” said Mohit Arora, executive director at J.D. Power Asia Pacific, Singapore. “Fewer customers in 2013 have been informed about the delivery timing of their vehicle, which impacts the proportion of customers who are delighted with their salesperson’s level of commitment.” The study finds that 76 percent of new-vehicle buyers finance their new-vehicle purchase through a loan, an increase of 5 percent from 2012. However, a salesperson’s initiative in offering a loan to buyers has significantly declined, as the proportion of new-vehicle buyers who are offered a loan declines Read More …

DTI mulls price freeze over Zamboanga City

 Economy
Sep 102013
 
DTI mulls price freeze over Zamboanga City

MANILA, Philippines – The Department of Trade of Industry (DTI) is studying the possibility of imposing a price freeze in Zamboanga City amid the ongoing standoff between government troops and members of the Moro National Liberation Front (MNLF). DTI Provincial Director Rolando Acuña said the state agency has fielded a team to check on the prices of basic and prime commodities in the area. Basic commodities include fish, rice, sugar, meat and canned goods while prime commodities include fruits, flour, toiletry and soap, among others. Acuña said once in place, the price freeze would return the cost of basic commodities to their prices a month ago. Acuña said most businesses in the city remained close for the second day on Tuesday after fighting broke out between soldiers and the MNLF. He called on businessmen to not take advantage of the situation, and said he is coordinating with the city’s business group to convince establishments to open their shops.

July exports up by 2.3%

 Economy
Sep 102013
 
July exports up by 2.3%

MANILA, Philippines – The country’s merchandise exports increased by 2.3 percent to $4.836 billion in July 2013, up from the $4.727 billion posted in the same period last year, the National Statistics Office reported on Tuesday. Machinery and transport equipment, woodcrafts and furniture, chemicals, electronic products, and cathodes and sections of cathodes of refine copper supported the country’s exports, which grew by 7.7 percent from the $4.49 billion posted in June 2013. On the other hand, aggregate merchandise exports for the first seven months of the year dropped by 3.4 percent to $30.422 billion from the $31.487 billion posted in the same period last year. Electronic products, the country’s top export, accounted for 39.1 percent of the total export receipts at $1.893 billion, although it dropped by 5.6 percent from the previous month’s $2.006 billion. In terms of groups, manufactured goods made up 79.3 percent of the total export receipts, followed by mineral products (8.2 percent), total agro-based products (7.6 percent), special transactions (2.5 percent) and forest products (0.1 percent). Japan was the country’s top export destination with an 19.8-percent share, followed by China (13.2 percent), United States (12.6 percent), Hong Kong (8.5 percent) and Singapore (6.8 percent). Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Flights to and from Zamboanga City still suspended

 Economy
Sep 092013
 
Flights to and from Zamboanga City still suspended

MANILA, Philippines – All commercial flights to and from Zamboanga remain suspended on Tuesday due to the ongoing conflict between government troops and members of the Moro National Liberation Front (MNLF), the Civil Aviation Authority of the Philippines (CAAP) said. “Yung aming Notice to Airmen (NOTAM) ay hanggang alas-9 lang sana kagabi (Monday night) pero ang aming information from the Armed Forces, sa intelligence unit nila, and aming sariling intelligence people, ine-extend po namin ang suspension hanggang alas-9 ng gabi ngayong araw na ito (Tuesday),” said CAAP Deputy Director General Rodante Joya. About 10 flights will be affected for the second day of the travel suspension. On Monday, 10 flights were also canceled, stranding 1,500 passengers. Cargo planes are also covered by the suspension, Joya said. Zamboanga City Mayor Maria Isabelle Climaco appealed to CAAP to lift the suspension as it is affecting commerce in the city, but Joya said there were reports of stray bullets reaching the airport’s runway. The airport is about 3 to 4 kilometers away from the conflict area. Classes in all levels and work are also suspended for the day. The conflict broke out on Monday as MNLF forces reportedly ask for the recognition of Bangsamoro Republik, an unrecognized government declared independent last month by its leader Nur Misuari. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 At least four were reported killed while 14 were injured according to the city government. About 170 more were kept hostage by the group.

Jobless rate up in July

 Economy
Sep 092013
 
Jobless rate up in July

MANILA, Philippines – The number of jobless Filipinos rose in July 2013, the government said Tuesday. Socioeconomic Planning Secretary ARsenio Balisacan announced that unemployment rate in the Philippines rose to 7.3 percent in July 2013 from 7 percent in July 2012. He said that although the Philippine economy, which had surprised with a strong growth in recent quarters, generated 620,000 new jobs, more Filipinos are looking for work. (To be updated)

 Older Entries  Newer Entries