March 2013 – Page 4

POEA, NCMB to provide conciliation-mediation services to OFWs

Mar 122013

POEA Building (photo courtesy of www.pinoy-ofw.com) Secretary of Labor and Employment Rosalinda Dimapilis-Baldoz announced yesterday that the National Conciliation and Mediation Board and the Philippine Overseas Employment Administration (POEA) have forged a Memorandum of Agreement to provide conciliation-mediation services to overseas Filipino workers on employment-related concerns. “This is an important development as far as the Single-Entry Approach [SENA] reform agenda is concerned. The combined effort of the NCMB and the POEA will make sure that the problems faced by many of our OFWs will be attended to with dispatch,” Secretary Baldoz said. The SENA program is a reform measure meant to dejudicialize the labor dispute settlement system through the alternative dispute resolution (ADR) mechanism using the 30-day mandatory conciliation-mediation of all labor cases lodged in the different offices and attached agencies of the DOLE. The MOA, which was signed at the recent 25th NCMB anniversary celebration, provides that the NCMB and POEA shall support one another in implementing the SENA program specifically in handling voluminous Requests for Assistance (RFA) filed by land-based and sea-based workers. “POEA has been receiving large numbers of employment related RFAs from overseas Filipino workers that it has sought the help of the NCMB,” Atty. Ronda D. Malimban, officer-in-charge of Conciliation-Mediation Division of the NCMB said. Under the agreement, the NCMB shall dispatch conciliator-mediators every Tuesday and Thursday to interview RFA filers at the POEA. “The conduct of conciliation-mediation conferences for the RFA filer and responding party shall be handled by the same conciliator-mediator,” Atty. Malimban Read More …

Bloomberry to borrow P14.3 B for expansion

Economy

Mar 122013

Bloomberry to borrow P14.3 B for expansion

MANILA, Philippines – Casino complex developer Bloomberry Resorts Corp. has secured an agreement to borrow as much as P14.3 billion for the expansion of its soon-to-open Solaire Manila Resort and Casino. In a disclosure to the stock exchange Bloomberry said its subsidiaries Sureste Properties Inc. and Bloomberry Resorts and Hotels Inc. have entered into a loan deal with several banks. “Lenders BDO Unibank Inc., China Banking Corp. and Philippine National Bank have agreed to make available to SPI an additional loan facility of up to P14.3 billion to help finance the construction of the Phase 1a expansion of the hotel and entertainment building complex of Solaire Manila,” Bloomberry said. The deal was arranged by BDO Capital and Investment Corp. Bloomberry, controlled by port magnate Enrique Razon Jr., earlier announced its plan to spend $200-250 million for the expansion that will allow the company to open an-all-suite hotel, 3,900 parking slots, a shopping center with luxury brand stores and an entertainment theater by next year. The $750-million Phase 1 of Solaire Manila will start welcoming guests in its 500-room casino hotel near Manila Bay on March 16. It will also offer a world-class casino encompassing 18,500 square meters of space and 15 luxurious dining options. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The casino hotel is situated in the Entertainment City, a 120-hectare property reclaimed from Manila Bay and owned by the state-run Philippine Amusement and Gaming Corp. (Pagcor). Bloomberry is one of the four license holders in Entertainment Read More …

Cebu Pac now has more aircraft than PAL

Economy

Mar 122013

MANILA, Philippines – Publicly-held budget carrier Cebu Air Inc. (Cebu Pacific) now has more aircraft that rival national flag carrier Philippines Airlines (PAL). Cebu Pacific accepted the delivery of its 43rd aircraft last March 7 from the Airbus facility in Hamburg, Germany. The airline’s new Airbus A320 is the second of its kind in the Philippines equipped with Sharklets, a new fuel-saving wing tip device. “Cebu Pacific now operates the largest Airbus fleet in the Philippines,” the company said in a statement. The airline’s fleet now includes 25 Airbus A320, 10 A319 aircraft and eight ATR 72-500 aircraft. Cebu Pacific is scheduled to take the delivery of 51 more aircraft consisting of 17 A320, 30 Airbus A321neo, and four more A330-300 between 2013 and 2021 With this fleet, the low cost carrier is set to add flights during the Holy Week period to accommodate demand, and provide more opportunities for travel. It will mount an additional daily flight from Manila to Hong Kong from March 20 to 30, 2013. There will also be an additional flight from Manila to Legazpi on March 27 to 28, as well as an additional flight from Manila to Naga on March 28 and 30. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Travelers bound for Puerto Princesa from Manila may also book seats on the airline’s additional flight on March 29. Cebu Pacific operates the most extensive network in the Philippines with 34 domestic and 21 international destinations and hubs in Manila, Cebu, Read More …

Meralco, First Pac likely to borrow for Singapore venture

Economy

Mar 122013

Meralco, First Pac likely to borrow for Singapore venture

MANILA, Philippines – Manila Electric Co. (Meralco), the country’s largest power distributor, and Hong Kong-based investment holding First Pacific Co. Ltd., are eyeing to borrow from lenders to fund their S$600-million ($488 million) acquisition of a Singaporean power firm, a top executive said. Meralco chairman and First Pacific managing director Manuel V. Pangilinan said the two companies have enough funds though to close the deal by the end of the month but are likely to refinance the acquisition costs. “Both Meralco and First Pacific have the funds necessary to close. We’re now looking at, as part of the total consideration, borrowing some of the acquisition funding. We don’t know the exact quantum yet, but both First Pacific and Meralco have the funds,” Pangilinan said on the sidelines of Meralco’s Luminaries Awards Monday night. Last week, Meralco announced that together with First Pacific, it would “take a 70-percent interest in a Singapore power project using a joint venture company formed for this purpose.” Both companies have formed FPM Power Holdings Ltd. (FPMP) to acquire GMR Energy (Singapore) Pte Ltd. from India’s GMR Infrastructure Ltd. (GMRIL). The joint venture company will shell out S$600 million plus foreign exchange adjustments to buy out GMRIL’s entire 70-percent share in GMR Energy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We have the funds necessary to close it on due date. Most likely, we will refinance with some leverage post-closing (date),” Pangilinan stressed. GMR Energy is currently in the advanced stage of construction of Read More …

Filipino labor is worth hiring – P-Noy

Economy

Mar 122013

MANILA, Philippines – President Aquino made a pitch for Filipino workers before potential investors yesterday, saying their creativity, dedication and loyalty are worth investing in. In a speech to keynote the Philippine Investment Forum 2013 at the Manila Peninsula in Makati City, the President cited the success of the business process outsourcing industry in which Filipinos have excelled and brought the country “to great heights in such a short time.” “Given the opportunity, they will do the same for you, whatever industry you may be involved in,” Aquino said. Aquino said the intrinsic characteristics of Filipino workers are what investors want from their work force. The President also called on investors to partner with the government in expanding their businesses in the country. He said the country is in a better position to offer more and meet their needs. He said potential investors could invest in agriculture, the source of income for some 12.1-million Filipinos; tourism, with the target 56-million tourist arrivals by 2016; and infrastructure, which is seen to support agriculture and tourism through the development of road networks, ports, and airports. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Whether in these three sectors or in others…we know that, here, hard work, innovation, and creativity are rewarded with success,” he said. The President said new investments would create thousands of jobs that will put food on the tables, send children to school and meet family expenses. “Together, we will be empowering them; giving them greater power to Read More …

Sun Life Grepa expects 35% hike in bancassurance premiums

Economy

Mar 122013

Sun Life Grepa expects 35% hike in bancassurance premiums

MANILA, Philippines – Sun Life Grepa Financial Inc., the joint venture bancassurance company between Sun Life Financial (Philippines) and Rizal Commercial Banking Corp. (RCBC) of the Yuchengco Group, is looking to grow its bancassurance premiums by at least 35 percent to P7 billion this year. Bancassurance also known as cross-selling, is a business relationship between a bank and a life insurance company wherein the insurer is allowed access to the bank’s branches and clients. Last year, Sun Life Grepa’s total bancassurance premiums was valued at P5.8 billion, which was 88 percent higher than the 2011 premiums of P3.1 billion. The joint venture was only formed in 2011 and had already ranked eighth among the 32 life insurance companies in the Philippines in that year. Sun Life Grepa president and chief executive officer Naresh Krishnan also reported that assets under management (AUMs) of its variable or unit-linked products reached P4 billion. Variable or unit-linked products are a combination of insurance coverage and investments. The investment portion of the variables, or AUMs, are placed in funds invested in the equity or stock market funds, bond or fixed income funds, or a combination of the equities and fixed-income, more popularly known as balanced funds. In terms of market share of total premiums, Krishnan said 70 percent of premiums came from the bancassurance distribution network, another 15 percent from its agency force, and 15 percent from group insurance. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The bancassurance distribution network is composed of Read More …

Gabby Concepcion on long-awaited screen reunion with Sharon Cuneta: ‘I’d like to see that happen’

Entertainment

Mar 112013

Gabby Concepcion on long-awaited screen reunion with Sharon Cuneta: ‘I’d like to see that happen’

By Edwin P. Sallan Gabby Concepcion Gabby Concepcion and Sharon Cuneta ended their four-year marriage in 1987. After that, they still managed to appear together on the big screen for the last time in Laurice Guillen’s “Una Kang Naging Akin” in 1991. That was 22 years ago. Still, as far as their fans are concerned, Sharon and Gabby have remained one of the greatest screen couples in Philippine cinema. And yes, the clamor for them to do a long-overdue reunion project is getting louder than ever. Time and again, both Gabby and Sharon have personally expressed their interest to see that project come to fruition. “Alam nyo, gusto kong mapanood ang movie nayan,” Gabby quipped when asked about it again during the recent story conference for his latest television project — TV5’s upcoming supernatural series “Cassandra: Warrior Angel”. In explaining why it has been taking so long for such a project to finally get off the ground, Gabby explains that they’re still looking for the right material for it. “I always believe that any project starts with a good story. If you have a good story, you can also branch out with good sub-stories. Right now, I still don’t know kung anong klaseng story ang puwede naming gawin. Is it going to be a drama or a comedy? What is it? I do have an idea but I don’t want to say it yet. But yes, we’re still open to suggestions,” he declared. He said he has discussed such a Read More …

DA to ensure rice, food supply in Tawi-Tawi, Sulu

Entertainment

Mar 112013

DA to ensure rice, food supply in Tawi-Tawi, Sulu

(Department of Agriculture logo) The Department of Agriculture will provide an additional supply of rice and basic food items for Tawi-Tawi, Sulu, and Basilan to satisfy the increased demand due to the influx of returning Filipinos and refugees from Sabah. Agriculture Secretary Proceso J. Alcala has instructed concerned DA officials to ensure a steady supply of rice of other basic food items in the three provinces to prevent a shortage and undue increase in prices. He instructed Administrator Orlan Calayag of the DA’s National Food Authority to sustain the delivery of rice, in coordination with the Department of Social Welfare and Development (DSWD) and respective local governments units (LGUs). Sec. Alcala also instructed the DA regional directors in Mindanao to send additional supply of cassava, which also serves as a major staple, to Tawi-Tawi and Sulu. In a report to Sec. Alcala, Calayag said the NFA as of March 9, has delivered an initial 2,200 bags (50 kilos each) to Tawi-Tawi and Sulu (at 1,000 bags each), and 200 bags in Zamboanga City. The DSWD has allotted the rice for Filipino returnees from Sabah. The NFA is shipping 180 to 250 bags of rice, two to three times a week, to Suu, and the NFA regional office in Davao is ready to ship 50,000 bags to Sulu and Tawi-Tawi, Calayag said. Other NFAl regional offices, particularly in Metro Manila or NCR and Region 6 (Western Visayas), are also set to send additional rice stocks to Zamboanga for delivery to the Read More …

DOF, AIM launch customized Master’s program for government employees

Entertainment

Mar 112013

DOF, AIM launch customized Master’s program for government employees

(DOF Seal) The Department of Finance, in partnership with the Asian Institute Management, launched today the first ever master’s program customized for its employees. The initiative responds to the Philippines’ various development challenges by cultivating technical and management skill in government officials. The Executive Masters in Development Management Public Finance program is a rigorous 20-month modularized program that combines managerial economics, public finance and budgeting, and statistics for strategic management that graduate students will relate to their official work in the government. “We don’t want government jobs to be dead-end jobs. We want to make government agencies into learning organizations that are also true meritocracies,” Finance Secretary Cesar Purisima said. AIM president Dr. Steven Dekrey for his part said, “The program is designed to enhance skills and capabilities necessary for public finance employees to develop a world view of Asia and beyond.” The program will build on concentration courses in budgeting and program analysis, public debt and capital markets, revenue policy and administration, benefit-cost analysis, governmental accounting and financial reporting, and public program evaluation. As compared with other career development opportunities within and for government workers, the program will be renewed every academic year and the curriculum continuously modified to address current challenges. “In the past, we have not invested enough to build growth capacity within our institutions. With programs such as this partnership with AIM, we want to align the interests of our people with the interests of the government and the interests of the country. This is a Read More …

Works of FilAm Artist Alfonso Ossorio on Exhibit in D.C.

Entertainment

Mar 112013

Works of FilAm Artist Alfonso Ossorio on Exhibit in D.C.

OSSORIO EXHIBIT. Ambassador Jose L. Cuisia Jr. and his wife, Ma. Victoria, admire one of the artworks of Filipino American artist and patron Alfonso Ossorio (1916–1990) at The Phillips Collection in Washington D.C. The private museum currently has on exhibit the abstract expressionist works of Ossorio, American painter Jackson Pollock (1912–1956), and French painter Jean Dubuffet (1901–1985). Dubbed Angels, Demons, and Savages, the exhibit features 55 of their paintings and works on paper from 1945 to 1958. Photos also show the Ambassador with members of the University of Maryland Filipino Cultural Association and the Northern Virginia Rondalla who performed at the opening of the exhibit on Thusday. WASHINGTON, D.C.—The abstract expressionist works of noted Filipino-American artist and art patron Alfonso Ossorio (1916-1990) drew raves when they went on exhibit at a private museum here on Thursday. The Philippine Embassy, which collaborated with the Phillips Collection for its “Phillips After 5” event for the month of March, said almost 700 guests led by Ambassador Jose L. Cuisia, Jr. and his wife, Ma. Victoria, attended the opening of the exhibit dubbed “Angels, Demons and Savages.” The exhibit features 55 paintings and works on paper of the Manila-born Ossorio and his equally famous artist-friends and contemporaries—American painter Jackson Pollock (1912-1990) and French painter Jean Dubuffet (1901-1985)—covering the period 1945 to 1958. OSSORIO EXHIBIT. Ambassador Jose L. Cuisia Jr. and his wife, Ma. Victoria, admire one of the artworks of Filipino American artist and patron Alfonso Ossorio (1916–1990) at The Phillips Collection in Washington Read More …

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