SEOUL, South Korea (AP) — Japan’s Nikkei 225 stock average dived more than 4 percent Tuesday as weakness in U.S. and Chinese manufacturing sent world markets sharply lower. Early European trading mirrored the slide in Asian stock markets, showing investor sentiment remained fragile as weak data from the world’s two biggest economies sparked concerns that growth could wane. Germany’s DAX drooped 1.1 percent to 9,088.62. Britain’s FTSE 100 fell 0.6 percent to 6,429.07 and France’s CAC 40 lost 0.5 percent to 4,085.76. Earlier, Japan led the slide in Asian stocks. The Nikkei tumbled 4.2 percent to 14,008.47 and is down 14 percent over the past month. Toyota Motor Corp. sank 5.7 percent before reporting a fivefold surge in its quarterly profit and Sharp Corp. plunged 8.4 percent. There were signs U.S. markets might regain their footing, with Dow futures up 0.3 percent and S&P 500 futures up 0.5 percent. But market strategists warned against plowing back into stocks. “Investors should steer clear of risk assets over the short term as the turmoil does not look like it will be over anytime soon,” Credit Agricole CIB said in a report. Investment sentiment was already fragile because of signs of stress in the financial markets of nations such as Turkey and Argentina. The Federal Reserve is incrementally withdrawing massive stimulus as the U.S. economy recovers from 2008 financial crisis, sending shockwaves through markets that were driven higher by the tide of cheap money created by the Fed’s policy. Sentiment took a further Read More …

By Frances MangosingINQUIRER.net 4:09 pm | Tuesday, February 4th, 2014 Canadian Ambassador Neil Reeder visits Navy chief Vice Admiral Jose Luis Alano on Tuesday at the Philippine Navy Headquarters. PHOTO/ NAVY PUBLIC AFFAIRS OFFICE MANILA, Philippines — A Canadian frigate is in Manila on a goodwill visit, the Philippine Navy said Tuesday. Her Majesty Canadian Ship (HMCS) “Regina” arrived last Saturday at Pier 15 in South Harbor, Manila and will stay there until Wednesday, said Gregory Gerald Fabic, Navy spokesperson said. The Ambassador of Canada to the Philippines, Neil Reeder, visited the Navy Headquarters on Tuesday and paid a courtesy call to Navy chief Vice Admiral Jose Luis Alano. Reeder was joined by Colonel Michel Latouche, Canadian Defense Attaché to the Philippines, and Commander Daniel Charlebois, the commanding officer of “Regina.” In February last year, “Regina” also visited Manila where they conducted several activities such as professional exchanges and goodwill games with their Philippine Navy counterparts. The visit aims “to promote stronger military ties and cooperation” between the Philippine Navy and Royal Canadian Navy and strengthen the diplomatic relation between the two countries, Fabic said. Reeder assured Alano that they would continue to seek ways on how they can assist and help the Navy in its capability and capacity upgrade, adding that they are looking into the possibilities of forging a training collaboration to promote interoperability between the two navies. RELATED STORY Canada-Philippine bilateral ties Follow Us Recent Stories: Complete stories on our Digital Edition newsstand for tablets, netbooks and Read More …
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) may implement stricter guidelines on banks’ exposure to the real estate sector as the country’s property market continues to boom. “Our prudential focus here is to monitor and determine whether acceptable credit standards are maintained by banks with respect to their exposures to real estate,” BSP Governor Amando M. Tetangco Jr., said in an e-mail yesterday. “We can do this, for example, through the reforms in Contract to Sell financing, a review of existing concentration limits, forms of exposure haircuts or a further review of the risk weights applicable to different types of exposures,” he said. The central bank monitors credit conditions including those extended for real estate activities to ensure these remain in line with the BSP’s price and financial stability mandates. The BSP in 2012 introduced tougher regulations on monitoring banks’ exposure to the real estate sector. The expanded reporting now covers loans to developers of socialized and low-cost housing, and to individuals, and credit supported by non-risk collaterals or Home Guarantee Corp. guarantee. At the same time, banks were required to report investments in debt and equity securities that finance real estate activities. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Our concern for any sector – including real estate – is part of our prudential oversight of bank exposures,” Tetangco said. “Issues such as concentration risk, credit quality, underwriting practices and interconnectedness will always be recurring concerns for prudential reasons,” he added. Latest central bank data Read More …
MANILA, Philippines – Hosted by Jinno Rufino and Cesca Litton (photo), Solar Sports Desk provides sports fans in the Philippines with the best information about their favorite sporting events every night on Solar Sports. From fresh news up to updated scores, Solar Sports Desk reports on every type of sporting event in the world and in the Philippines such as the NBA, PBA, UAAP, NCAA, PGA and many others. The show also has numerous specials, such as Post Game, where expert analysis is provided by Mico Halili, who breaks down the action in some of the most popular international happenings in the world of sports. Solar Sports Desk also invites personalities from the local sports scene, such as coaches, team managers and players of the PBA, UAAP, Gilas-Pilipinas, The Philippine Azkals, The Philippine Volcanoes and many more. Get to know the latest and breaking sporting news in the country and around the world by watching Solar Sports Desk that airs weeknights at 10 on Solar News Channel. * * * Entertainment ( Article MRec ), pagematch: 1, sectionmatch: 1 From morning to evening, Solar News Channel offers a steady dose of newscasts, including a two-minute newsbreak every 15 minutes from 9 a.m. to 5 p.m. It also produces a variety of current affairs programs: LegalHD with lawyers Karen Jimeno and Rod Nepomuceno; Medtalk with Angel Jacob; News.ph with Pia Hontiveros; News Café with Jing Magsaysay; and Opposing Views also with Nepomuceno. The channel also airs locally co-produced lifestyle programs like Read More …
One unforgettable characteristic of the great exploits of Alexander the Great many centuries ago was that he conquered the world with great speed and ferocity. Alexander marched on with his mapmakers, and then one day this young conqueror looked out at the horizon and cried. He lamented that there was no longer any world to conquer. History would have told a different story had Alexander the Great not relied on his mapmakers but used GPS — if only this technology was available then. Today, in business, roadmaps, compasses and GPS devices are necessary. There was a time when all you needed to do business was a roadmap. Roadmaps come by different names. Sometimes they were called “Business Strategic Plans.” These came with different versions.There were annual, two-year, five-year and even 10-year business strategic plans as leaders within the organization prepared the roadmap for the future. But a roadmap is useful only when the terrain is familiar and the geography does not change.The big question now is this: How do you use a roadmap today when the terrain continues to transform and the geography is always changing? Roadmaps are important, but apart from them you need another device. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 You need a compass. A compass will perennially point you towards the direction you need to go as you navigate an uncertain world that keeps on transforming. While a compass brings you to uncharted territories — which is more symbolic of what we are Read More …

By Matikas SantosINQUIRER.net 3:37 pm | Friday, January 31st, 2014 United Kingdom’s Secretary of State William Hague. Photo from gov.uk MANILA, Philippines—United Kingdom’s foreign secretary thinks the Philippines can be “one of Asia Pacific’s great success stories” citing the strong economy and the hard work of Filipinos both in the country and all over the world. “Your high rates of economic growth are a testament to strong economic policy and the hard work of Filipinos at home and abroad, including thousands in my own country,” William Hague, UK Secretary of State for Foreign and Commonwealth Affairs, said in his speech Thursday. “The Philippines clearly has the potential to be one of Asia Pacific’s great success stories and we want to support you in that, to the benefit of both our peoples,” he said. Hague highlighted the newly established direct flights between London and Manila that will boost tourism for both UK and the Philippines and the increase of scholars from the Philippines that will be able to study in universities in the UK. Before his speech, Hague met with Foreign Affairs Secretary Albert del Rosaro to discuss the two countries’ economic and diplomatic ties. “Secretary Hague and I reviewed our countries’ economic relations. British investments in the country increased by an impressive 293 percent from P1.72 billion in 2011 to P6.76 billion in 2012, making UK a major source of foreign direct investments,” del Rosario said in a joint press conference after their bilateral talks. “Similarly, our bilateral trade performed Read More …
A Philippine diplomat who went without food for 14 days last year will lead another fast on Saturday in a bid to pressure world leaders over climate change. Naderev “Yeb” Saño, the Philippines’ lead negotiator at United Nations climate talks, drank only tea and water throughout the last meeting in Poland in November, garnering world headlines and praise from developing nations. Saño’s latest symbolic one-day hunger strike is an attempt to maintain pressure ahead of the next UN talks in Peru, with his tactics beginning to attract followers around the world via social media. “The objective is to keep connecting with the people who believe in climate justice … I’ve always believed in fasting as an important instrument in provoking change,” Saño told AFP. Saño will carry out his February fast while visiting Tacloban City, which was devastated when super typhoon Yolanda (Haiyan) tore across central Philippines in November. Yolanda, the strongest typhoon ever to make landfall and left 8,000 people dead or missing, triggered Saño’s original decision to fast at the UN climate talks in Warsaw. Saño said he expected other people around the world connected via social media to follow his example, in what he believes will be a growing movement ahead of the Peru round of talks in December. The Peru gathering is vital in trying to secure a global pact by 2015 that would limit global warming to 2.0 degrees Celsius (3.6 degrees Fahrenheit) over pre-Industrial Revolution levels. Saño’s fasts have been promoted by Nobel laureate Read More …
“This problem has been around for at least the last 15 years. It’s been turned into a political football. “I think it’s unfair, so I think it’s time to deal with it,” House Speaker John Boehner has said before partymates agreed on a new principle regarding undocumented immigrants. By Michael Mathes CAMBRIDGE, January 31, 2014 (AFP) – Republican lawmakers endorsed in principle the legalization of millions of undocumented immigrants on Thursday, but stopped short of backing a pathway to citizenship. The majority party in the House of Representatives did, however, specify that it backs opportunities for young immigrants brought to the country illegally by their parents to become US citizens. Most experts agree the Republicans’ low level of support among voters of recent immigrant stock cost their candidates badly in recent elections, and the party is under pressure to reach out. But many within the party ranks fear that passing legislation to help regularize the situation of millions of undocumented migrants could hurt them with voters from their white conservative base. At a retreat for Republican representatives under the leadership of House Speaker John Boehner to set priorities ahead of November’s mid-term elections, members drew up an outline approach. “There will be no special path to citizenship for individuals who broke our nation’s immigration laws – that would be unfair to those immigrants who have played by the rules and harmful to promoting the rule of law,” said the draft, obtained by reporters. The draft said such immigrants “could live Read More …
REAL estate player Ayala Land Inc. (ALI) has assigned some of its shares in its joint venture agreement with Aboitizland Inc. to affiliates Cebu Holdings Inc. (CHI) and Cebu Property Ventures Development Corp. (CPVDC). In a press statement sent yesterday, ALI disclosed its assignment to CHI and CPVDC of the right to subscribe to 10 percent and five percent, of the authorized capital stock of the joint venture company (JVC). ALI will retail its remaining 35 percent stake in the JVC. Last week, ALI inked a joint venture agreement with Aboitizland Inc. for the development and operation of a 15-hectare city center in Subangdaku, Mandaue City. The two property giants also teamed up to bid for the P17.5 billion Mactan-Cebu International Airport rehabilitation project. “We are excited about this new development which is distinct from our other properties in Cebu. This will complement our expanding portfolio of projects, as well as allow us to reach more geographies and markets,” CHI president Francis Monera said. Monera said the project will contribute to Cebu’s thriving real estate industry and lead to an influx of more investments in the area. CHI, which is celebrating its 25th year, is the developer of the city’s largest integrated, mixed-use, master-planned development, the Cebu Business Park. CPVDC, a subsidiary of CHI, on the other hand, is the developer of Cebu I.T. Park which is home to the largest concentration of IT and business process outsourcing companies south of Manila. Largest These two business parks form Cebu Park Read More …
MANILA, Philippines – The recent weakness of the peso is not expected to stoke inflation, the Bangko Sentral ng Pilipinas (BSP) chief said yesterday, stressing the central bank remains ready to curb any excessive volatility in the foreign exchange market. “The pass-through of exchange rate movements to the inflation rate has gone down over the years because of gains in efficiency (and) productivity in the domestic economy,” BSP Governor Amando M. Tetangco Jr. told reporters. “There are also countervailing factors or forces like commodity prices – world commodity prices have not really risen that much partly because the expected global recovery is only beginning,” he continued. The peso tumbled to a fresh three-year low on Monday, closing at 45.3:$1. It was the unit’s weakest level after finishing at 45.38:$1 on May 6, 2010. The central bank in September last year noted that the impact of the exchange rate to inflation has been declining, with a pass through rate of 0.06 percent in inflation for every one percent depreciation. Despite the peso’s losing streak in late 2013, inflation has remained benign as it averaged three percent last year, at the low end of the BSP’s three- to five-percent target range. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Tetangco, however, stressed the local unit’s volatility is still in line with that of other Asian currencies. “The (peso’s) volatility remains within the range of volatilities of currencies in the region which is really the objective of the BSP — to leave Read More …