MANILA, Philippines – The peso moved sideways against the dollar on Tuesday, closing at 43.615 from the previous day’s 43.65. Total volume transacted at the Philippine Dealing System amounted to $732.25 million, higher than the $717.8 million posted on Monday. The peso opened Tuesday at 43.6.
MEGAWORLD, the country’s leading real estate developer, is fast-tracking the construction of office, commercial, and residential towers in the 72-hectare Iloilo Business Park due to the strong demand, brisk sales and rental inquiries for residential, commercial, and office spaces. This year, three office towers, namely, One Global Center, Two Global Center and Richmonde Tower, are scheduled to be completed. The three towers, with a total of 25,000 square meters of leasable spaces, will be able to accommodate around 10,000 full time employees (FTE) for the Business Process Outsourcing (BPO) companies. Megaworld will also start the construction of another two office towers by August this year: One Techno Place and Two Techno Place, which will generate an additional 8,000 FTEs in the township. Both towers, with a total of 19,000 square meters of leasable spaces, are scheduled to be completed in early 2016. “With the heavy influx of inquiries from BPO companies who want to be part of Iloilo Business Park, we see the urgent need to hasten the construction of more office towers to meet the strong demand,” said Jericho P. Go, senior vice president of Megaworld. StarTek Inc., a US-based BPO company, has already started its operation in the Richmonde office tower this month of June and is poised to launch its standalone BPO office building at Two Global Center by 4th quarter of this year. As the first BPO company opens in Iloilo Business Park, McDonald’s also opens its standalone store in the township. The branch will be Read More …
President Benigno S. Aquino III delivers addresses the 23rd World Economic Forum on East Asia (WEF-EA) 2014 Opening Plenary at the Tacloban A & B, 2nd Floor, of the Shangri-la Hotel in Makati City on Thursday (May 22, 2014). With theme: “Leveraging Growth for Equitable Progress.” The meeting will serve as an ideal platform for participants to deliberate the opportunities of the ASEAN Economic Community to promote greater inclusion across East Asia and to instill more resilient decision-making in the face of unpredictable economic and natural disruptions. More than 600 leaders from business, government, civil society and academia will participate, representing over 30 countries. (MNS Photo) MANILA (Mabuhay) – President Benigno Aquino III said he will summon officials concerning the price hikes of basic goods in the country. “There will be a meeting, perhaps this week – if not, at the latest, by next week. Che-check-in rin ‘yung especially rice but also pati na rin sa garlic to determine exactly what is causing this price spike or price spikes,” Aquino told reporters during his one-day working visit in Japan on Tuesday. Earlier, the Palace admitted that the government has yet to determine the cause of the sudden surge in the price of garlic and other goods. In the past few weeks, the price of imported garlic has been hovering at P300 to P400 per kilo in Metro Manila while commercial rice prices increased by P2 per kilogram. The Palace later on said the hike might have been due to port Read More …
More than 200 US and Filipino Marines launched a mock amphibious assault Monday on an enemy beachfront close to a disputed South China Sea outcrop. Amid driving rain and rough waves, five amphibious assault tanks roared off from a US destroyer anchored off Zambales province, about two hours drive northwest of Manila, and landed on the soggy beach peppered with imaginary foes. US Marines scanned the horizon on scopes mounted on assault rifles as they dramatically emerged from the hatch, while their Filipino counterparts took firing positions on the ground. Shots later rang out towards enemy positions in an assault that lasted about an hour. The drill was part of week-long, annual Cooperation Afloat Readiness and Training that the United States bilaterally holds with Asian allies, including the Philippines, to boost maritime security. About 1,000 US and Filipino troops and five warships, including an American missile destroyer, took part in the training, which began last week. Philippine fleet commander Jaime Bernardino told reporters at the start of the war games last week that they were designed to upgrade the Filipino navy’s capability in guarding the country’s long coastline. “These are the gaps that we would like to address (to) make sure we detect (foreign vessels) properly, we intercept them and we neutralise them if necessary,” he had said. Monday’s exercise took place on an uninhabited beach near a naval outpost on Zambales on Luzon island, 220 kilometres (137 miles) east of Scarborough Shoal on the South China Sea. The shoal, Read More …
MANILA, Philippines – Nisce Skin ‘n Face recently launched Rocco Nacino (photo) as its newest addition to the brand’s pool of celebrity endorsers. According to Nisce Skin ‘n Face COO and chief aesthetician, Antoinette Nisce, Rocco possesses the qualities they look for an endorser. “We are meticulous in all we do, as this would reflect the quality of our products and services, the same goes with choosing our endorsers. We are thorough in choosing who will best represent our brand, and we found Rocco Nacino to fit the bill.” Facials and other skin treatments are not just for women; and women should not be the only ones conscious about how they look, as men should also take time and effort to look and feel good. Out of the wide selection of services offered at Nisce Skin, Rocco shares that his favorite is the facial and skin rejuvenation treatments, particularly IPL (Intense Pulse Light) for total skin rejuvenation. He also loves Silk Peel which is microdermabrasion, a treatment to remove dead epidermal cells, with dermal infusion of serums for whitening, anti- aging and anti-acne treatments. He also treats himself to Nisce’s SPA services for relaxation. For details, visit www.nisceskin.com, follow Nisce Skin ’n Face on Instagram: www.instagram.com/nisceskin and Facebook: www.facebook.com/Nisceskin.
MANILA, Philippines – Romeo Gutierrez holds his 30th one-man show titled “Figurative Abstraction,” which opens on July 2 at ArtAsia Gallery, fourth floor, Artwalk, SM Megamall A, Mandaluyong City. The show runs until July 16. For inquries, call or SMS 0907-4420284 or email phynnebarnett@yahoo.com.sg. Gutierrez is a former board of director and vice president of the Art Association of the Philippines.
Administration allies will still have to face the music if there is evidence linking them to the P10-billion pork barrel scam, a Palace official said Sunday. In a radio interview over government-run dzRB, Communications Secretary Herminio Coloma Jr. said Budget Secretary Florencio Abad and Agriculture Secretary Proceso Alcala, whose names have been linked to the scam, will not be spared if evidence is found against them. “Kailangan lang pong lumabas ‘yung mismong kongkretong impormasyon at mismong ebidensya. Handa naman po ang ating dalawang kalihim na harapin ‘yang mga akusasyon na ‘yan,” he said. Detained businesswoman Janet Lim-Napoles, said to be the mastermind of the scam, has alleged it was Abad who taught her how to create non-government organizations. Lawmakers’ Priority Development Assistance Fund allocations were allegedly funneled to Napoles’ NGOs for non-existent projects. Abad has denied the accusation and has said he has never dealt with Napoles. Alcala has likewise denied dealing with the businesswoman, now detained at Fort Sto. Domingo in San Pedro, Laguna. Coloma stressed there will be so-called sacred cows in the investigation into the PDAF scam. “Wala naman po dahil nga batay lang sa ebidensya, batay lang po sa kongkretong impormasyon na nakakalap. Wala naman pong pinipuwera (itsapwera), wala din pong pinag-iinitan. Kung saan po tatama ‘yung hataw ng batas, ika nga, dahil sa ipinapakita ng kongkretong ebidensya, ‘yon po ang magiging gabay sa gagawin ng ating mga awtoridad,” he said. The Aquino administration has been criticized by activist groups and by Senator Jinggoy Estrada, who Read More …
Security Bank Corporation has launched a public offer of its Basel III Tier 2 notes amounting to P10 billion. Tier 2 notes are investment instruments that offer returns higher than most other instruments in the market. The notes have a term of 10 years, (with an issuer’s call option after five years) and may be purchased in minimum denominations of P500,000 and in increments of P100,000. The interest on the notes will be paid quarterly. Security Bank is issuing the notes to further support the continuing growth of the bank’s financial assets. And scanning the bank’s performance over the past few years, these notes are, as they say, a sure investment bet After all, Security Bank is the only one among the country’s largest banks to register higher profits in the first quarter of 2014 compared to the same period last year, Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Prior to 2013, from 2007 to 2012, it ranked first in return on shareholders’ equity, return on assets, return on shareholders’ equity, cost to income ratio, asset quality having the lowest non-performing loans ratio, and also leads in terms of NPL reserve cover ratio. In the last two years, the bank invested in the expansion of its branch network and retail banking business to drive future revenues. Underlining its value to the Philippine market, Security Bank is an independent bank with core franchises in corporate and investment banking, commercial and retail banking, and financial markets, with a solid niche Read More …
President Xi Jinping said on Saturday that China is incapable of “hegemony or militarism”, after calling for stronger border defences to avoid a repeat of past humiliations by foreign powers. “Hegemony or militarism is not in the genes of the Chinese,” Xi said in a speech commemorating the six-decade old establishment of a commitment to peaceful coexistence with India and Myanmar. “China neither interferes in other countries’ internal affairs nor imposes its will on others,” Xi added. “It will never seek hegemony no matter how strong it may become.” Xi spoke to an audience of Chinese officials, military officers and foreign diplomats in a cavernous room in Beijing’s Great Hall of the People. Myanmar President Thein Sein and Indian Vice President Mohammad Hamid Ansari, who also gave speeches, sat on stage as Xi spoke, as did Chinese Premier Li Keqiang and two other top ruling circle officials. The speeches were part of commemorations for the 60th anniversary of a mutual peace vow by China, Myanmar and India. The 1954 Five Principles of Peaceful Coexistence include mutually respecting sovereignty and territorial integrity as well as mutual non-aggression and non-interference in each other’s domestic affairs. Xi’s speech to an international audience contrasted with nationalistic remarks quoted by state media earlier in the day when he said China should bear in mind its history as a victim of foreign aggression and strengthen its frontier defences on land and sea. Those comments came at a “national meeting” held Friday and also attended by Premier Read More …
Expect the Aquino administration to spend its last two years laying the foundations for “equitable” growth and a higher standard of governance, Malacañang said Saturday. Presidential spokesman Edwin Lacierda said on government-run dzRB radio this is part of the administration’s belief of inclusive growth for all. “We would like to make sure as we leave, as the President leaves after 2016, he has laid the foundations for an economy that would provide equitable growth for all and a system na tumaas ang antas ng appreciation sa governance,” he said. He said they want to instill in Filipinos the mentality of “not going back” to where they were before President Benigno Aquino III assumed office in 2010. June 30, Monday, marks the fourth anniversary of Aquino’s assumption of the presidency. His term ends June 30, 2016. Lacierda claimed the Aquino administration has “elevated” the level of governance such that people now expect a better government. “’Yan ang isang bagay na gusto ma-realize ng Pilipino, mas maganda ang antas ng ating pamamahala. Despite the many issues that surround us and we have to handle on a regular basis, the Filipinos can expect standards of governance have risen and they should not allow (those standards) to go down again,” he said. Meanwhile, Lacierda said that as far as selecting a standard bearer for the 2016 elections, “we will have to wait for process to proceed and take its course.” He said one factor in the search is “who will continue the kind of Read More …