Q1 foreign tourist arrivals up

 News
May 052013
 
Q1 foreign tourist arrivals up

By Jocelyn R. Uy Philippine Daily Inquirer 4:10 am | Monday, May 6th, 2013 MANILA, Philippines—There were 1.27 million foreign tourists who visited the country during the first quarter of the year, setting the pace for the government to reach the 5.5 million mark for 2013, according to the Department of Tourism (DOT). The first-quarter visitor arrivals marked a 10.76-percent growth from the 1.15 million visitors recorded during the same period last year. “This marks the second time that foreign tourist arrivals breached the one-million mark in the first quarter,” the DOT said on Sunday. Records showed that Korea remained the leading visitor market, capturing 25.83 percent of the total inbound traffic, followed by the United States, with 186,064, or 14.63 percent, of the overall visitor volume. At least 114,269 visitors from Japan have been recorded from January to March, accounting for 8.99 percent of the total market share, while arrivals from China have reached 98,242. Rounding up the top five visitor markets for the first quarter is Taiwan, with 53,867 tourists. The country also enjoyed significant number of visitors from the following countries: Australia, 53,679; Singapore, 41,524; Canada, 38,486; Hong Kong, 36,005; United Kingdom, 32,475; Malaysia, 27,212; and Germany, 22,491. “Month after month, we bear witness to a steady upward performance and new record highs. This only means that the efforts of the department and its partners are bearing fruit,” said Tourism Secretary Ramon Jimenez Jr. “To achieve our 2013 target of 5.5 million and 2016 target of 10 Read More …

Snub by Chinese foreign minister no big deal–Del Rosario

 News
May 052013
 
Snub by Chinese foreign minister no big deal–Del Rosario

By TJ A. Burgonio Philippine Daily Inquirer 3:52 am | Monday, May 6th, 2013 Chinese Foreign Minister Wang Yi, left, shakes hands with Thai Prime Minister Yingluck Shinawatra at Government House in Bangkok, Thailand Wednesday, May 1, 2013. AP PHOTO/SAKCHAI LALIT MANILA, Philippines—Filipinos shouldn’t make a big deal over the failure of new Chinese Foreign Minister Wang Yi to visit the country even as he called at four other Southeast Asian nations, Malacañang said on Sunday. “We have not given a second thought to the visits to four Southeast Asian countries by the new Chinese foreign minister. The visits are his prerogative,” said Foreign Secretary Albert del Rosario in a statement released by the Palace. Undersecretary Abigail Valte, deputy presidential spokesperson, agreed. “We recognize perfectly the prerogative of the Chinese foreign minister to set his own agenda for his trips outside his country,” she said in a radio interview. Wang made his first official visits to Thailand, Indonesia, Singapore and Brunei between April 30 and May 5. Manila and Beijing are locked in a long-running dispute over islands in the West Philippine Sea (South China Sea). The Philippines has brought the matter to the United Nations. Portions of the South China Sea are being claimed in whole or in part by China, and the Philippines, Brunei, Malaysia, Vietnam and Taiwan. Still, Del Rosario said, he looked forward to meeting Wang and working closely with him “at the appropriate time.” “We reiterate our congratulations and wish him great success,” he added.

Jessy calls Matteo her ‘paradise’

 Entertainment
May 052013
 

Although they refuse to admit that they are now officially a couple, actress Jessy Mendiola described actor Matteo Guidicelli as her “paradise.” “Siya ang paraiso ko,” Mendiola said. Asked what paradise means for her, Mendiola replied: “’Yung kapag kasama mo ang taong mahal mo, kung saan ka masaya, payapa lang.” Mendiola and Guidicelli became close […]

Malacanang says law enforcement agencies have mapped out action plan to ensure free, orderly, honest, peaceful and credible May 13 elections

 Entertainment
May 052013
 

Law enforcement agencies have mapped out an action plan to ensure free, orderly, honest, peaceful and credible conduct of the May 13 automated national and local elections, a Palace official said on Friday. Presidential Spokesperson Edwin Lacierda said during the regular press briefing in Malacanang that the Department of Interior and Local Government (DILG) launched […]

IATA pushes single airport system for Phl

 Economy
May 052013
 
IATA pushes single airport system for Phl

MANILA, Philippines – The International Air Transport Association (IATA) is pushing for the continued improvement of the operations of the congested Ninoy Aquino International Airport (NAIA) and the establishment of an alternative gateway within the metropolis. Albert Tjoeng, IATA’s assistant director of corporate communications for Asia Pacific, said the organization is supporting a single airport solution that is easily accessible from the city.  “The priority for Manila is to maximize the effective capacity and throughput from the existing facilities.  IATA has provided guidance to the authorities in this regard, such as building rapid exit taxiways and better slot management. But there is a need to develop a long term solution to the airport needs of the Manila area,” Tjoeng said in an e-mail. Transportation Secretary Joseph Emilio Abaya earlier said Malacañang is carefully studying three options including the possibility of shutting down and selling NAIA to reach a decision on whether the Philippines would adopt a single or twin airport system. Abaya said the first option involves a single airport system wherein the government would shut down and sell the congested NAIA and develop the Clark International Airport in Pampanga. The second option, he revealed, involves dual system wherein the government would develop Clark and at the same time maximize the operations of NAIA until 2025 while looking for an alternative site for a new airport that would be 25 kilometers or 30 minutes away from the existing gateway. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The DOTC Read More …

Volunteer educators are potential good employees – MBC

 Economy
May 052013
 
Volunteer educators are potential good employees – MBC

MANILA, Philippines – Businesses should consider hiring individuals that take part in programs seeking to expand educational opportunities, to get employees that have leadership skills and to be able to contribute to improving the quality of education in the Philippines. Speaking at the joint membership meeting of the Management Association of the Philippines and Makati Business Club (MBC), Wendy Kopp, co-founder and chief executive officer of Teach for All, said businesses could play a role in improving the quality of education in the country. She said businesses could consider hiring individuals that become involved in programs similar to those being undertaken by organizations which are part of the Teach for All network, which seek to improve teaching in schools. “Business people can consider this as an excellent leadership training program,” she said. Teach for All is a global network of national organizations working to expand educational opportunities in their respective countries. These national organizations recruit promising future leaders to teach for two years in high-need schools and to work throughout their lives as leaders in the classroom, in education and across all sectors to address the root cause of educational need. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Here in the country, Teach for the Philippines which is an official network partner of Teach for All, has recruited 54 fellows who are spend its the next two years teaching in 10 of the highest-need public schools in Quezon City. Kopp said hiring individuals that take part in programs Read More …

Chinese firms keen on more trade, investments in Phl

 Economy
May 052013
 
Chinese firms keen on more trade, investments in Phl

MANILA, Philippines – Chinese businesses are keen to trade and invest more in the Philippines amid its growing economic growth. Xu Ningning, Executive Secretary General of China-ASEAN Business Council (CABC), said they are willing to cooperate with the Philippines in sectors such as agriculture, fishery, infrastructure, mining, energy, information and communication technology, manufacturing, tourism, engineering service, forestry and some other areas. “There are huge cooperation potential and numerous business opportunities for trade and economic cooperation between China and the Philippines,”  he said during the recent Philippine-China Business Forum organized by the Philippine Chamber of Commerce and Industry (PCCI) held here. Ningning said that as Chinese enterprises are eager to “go out”, the Philippines and other ASEAN countries have become their biggest markets. He said the Philippines is one of their preferred markets and investment locations, citing its fast economic growth that is expected to accelerate six to seven percent this year. “At present, the Philippines is actively attracting foreign investments and promoting its industrial development. And China is actively implementing its 12th Five-Year Plan, with its average annual GDP (gross domestic product) growth rate at seven percent as planned,” he added. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 With this, Ningning urged the need to implement the five-year development program for trade and economic cooperation signed by the Philippines and China in 2011 which targeted to expand the volume of bilateral trade to $60 billion by 2016. “The Philippines should actively promote its business opportunities and famous brands Read More …

ALI jumpstarts dev’t of P20-B Circuit Makati

 Economy
May 052013
 
ALI jumpstarts dev’t of P20-B Circuit Makati

MANILA, Philippines – Property giant Ayala Land Inc. (ALI) has jumpstarted the P20-billion development of the former Sta. Ana racetrack into a masterplanned entertainment and leisure district. Upscale residential brand Alveo Land launched on Saturday the first phase of the two-tower Solstice, the maiden residential project in the 21-hectare Circuit Makati. “Solstice will be the pinnacle of expression for the dynamic and vibrant living experience that Circuit Makati espouses,” said Alveo Land president Robert Lao. He earlier said that investment per tower is around P2.5 billion. This forms part of the property firm’s plan of launching one tower every year in Circuit Makati to fill the mixed-use community with eight to 10 towers in the next 10 years. “Solstice Tower One will be 41 floors high and will provide 461 residential units in a complete range of studio, one-, two-, and three-bedroom units,” ALI said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 One-bedroom units ranging from 57 to 96 square meters (sqm) will account for majority of the offerings given Alveo Land’s positioning as a developer for mobile individuals, professionals, executives and starting-out couples, ALI said. Turnover for Solstice Tower One is targeted in the third quarter of 2018. Alveo Land said it will also introduce exclusive two- and three-bedroom Sunrise Villas at the third to seventh levels of Solstice. Amenities at the podium’s eighth floor include a lap and lounge pool, juice bar, lounge area, and kids’ play area and pool, as well as an indoor and Read More …

Phl safe from asset bubbles – BSP

 Economy
May 052013
 
Phl safe from asset bubbles – BSP

MANILA, Philippines – Property loans granted for residential purposes rose the fastest among other household credit last year, but remained of the best quality, boosting the Bangko Sentral ng Pilipinas’ (BSP) belief that the country is still safe from asset bubbles. In its Status of Philippine Financial System Report released last Friday, the central bank said residential real estate loans increased 19.77 percent to P264.2 billion from P220.836 billion a year ago. This accounted for the biggest share in consumer loans, at 42 percent of the total P629.3 billion granted during the same period. Aggregate consumer loans went up 15.28 percent year-on-year. Other consumer loans were auto loans, credit card receivables and those used for other purposes such as purchase of appliances. All recorded gains from their 2011 levels. Despite the marked increase, residential property loans enjoyed the lowest bad loan ratio or the proportion of unpaid loans over the loan portfolio. Bad loans are those that remained unpaid 30 days after the due date. Unpaid credit accounted for 4.1 percent of total residential real estate loans, down from 4.3 percent in 2011. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Last week, BSP Governor Amando Tetangco Jr. said there are “no emerging signs” of asset bubble formation in the Philippines despite the affordability of bank credit and surge of inflows from abroad. Asset bubbles are characterized by an upshot in asset prices, such as those in the real estate sector, that they no longer reflect real market rates Read More …

BOC conducts audit of luxury car distributors

 Economy
May 052013
 
BOC conducts audit of luxury car distributors

MANILA, Philippines – The Bureau of Customs (BOC) expects to release  the result of the audit of imports of luxury car distributors soon. Customs commissioner Rozzano Rufino Biazon told reporters in a chance interview the BOC is conducting an audit of all luxury car importers to check possible undervaluation of vehicles brought in to the country. The results of the audit, he added,  are expected to be out soon. “We’re just waiting for the report from the post entry audit group of the BOC,” he said. In March, he said a post-audit entry of vehicles imported by PGA Cars Inc. was being conducted amid uncertainties over declarations made by the firm. PGA Cars is the distributor of Porsche and Audi vehicles. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Biazon said PGA Cars has already submitted its books of accounts to the agency. “They had to comply, otherwise we can suspend their import license,” he said. He noted that books of accounts are needed for the audit as such provide more information compared to documents presented at the port of entry which only show the declared value of the units being brought in. “Remember, we signed up to the WTO (World Trade Organization) agreement on adopting the transaction value method. The price agreed upon by buyer and seller, that is the transaction value. But the books of accounts show more data, for example, what costs they reported to the Bureau of Internal Revenue,” he said. Apart from PGA Cars, Read More …

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