June 2013 – Page 19

Thought comes to the archbishop

News

Jun 202013

Outtakes By Rene Ciria-Cruz 2:11 pm | Thursday, June 20th, 2013 Can a brother marry his sister? “Yes,” according to retired Archbishop Oscar Cruz, as long as he’s gay and she’s a lesbian. “Hold it, hold it right there! That’s not what the good archbishop said!” As you can see, I’m being rudely interrupted, by no less than Dr. Teologio Macadios of the Pandacan Theological Seminary. “Archbishop Cruz said ‘yes,’ gays can marry, so long as it’s with the opposite sex. It’s okay for a gay man to marry a lesbian woman—because the anatomy to consummate a union for procreation is there.” I stand corrected. Apologies all around. That’s indeed what the archbishop–the judicial vicar of the august Catholic Bishops Conference of the Philippines–may have declared at the National Appellate Matrimonial Tribunal last week. He even confessed, “I ask this question to myself and I have thought about it for a long time, and the answer is ‘yes.’” Still, it’s good to know that a brother can now marry his sister, so long as they’re both homosexuals and belong to different religious orders. “Wait! Hold it there again! Priests can’t marry nuns, stupid!” Even if they’re gays and have the anatomies for conception? “Yes, because of their vows of celibacy, you idiot.” I apologize for being thoroughly confused. But one other thing. If the Church says it’s okay for gay men to marry gay women, then isn’t it easier for them to split up later compared with, say, heterosexual couples. Read More …

LCF introduces mobile application for CSR Expo

News

Jun 192013

LCF introduces mobile application for CSR Expo

MANILA, Philippines – A mobile application for the League of Corporate Foundations’ Corporate Social Responsibility Expo (LCF CSR Expo) has been made available for Android and iOS, according to organizers. Delegates now can keep track of the agenda, manage their schedules, and network with fellow delegates. “The mobile app is a useful and easy-to-access guide for people who want to have important details at their fingertips,” said Augusto Carpio III, LCF chairman. The mobile app offers a variety of features that will keep delegates informed of various expo activities. With just a click, users can access information about the event, speakers, and panelists. Users can also learn more about the expo’s exhibitors, partner organizations, and news related to CSR. The LCF is a network of over 70 operating and grant-making corporate foundations and corporations that promotes and enhances the strategic practice of CSR among its members and the larger business community toward sustained national development. The 12th LCF CSR Expo will highlight inclusive growth as key to economic growth, with the theme “Isang Bansa, Isang Bukas, Sabay sa Pag-unlad.” The app provides green tips, easy Twitter access for real-time updates, and news feeds on CSR from here and around the world. Besides accessibility, it is also a good alternative to paper. The LCF CSR Expo is organized annually as a green event. By being mindful of how resources are used for the conference and exhibition, LCF aims to enrich the entire expo experience. The app can be downloaded for free Read More …

LT Group banks on tobacco, liquor to drive growth

Economy

Jun 192013

LT Group banks on tobacco, liquor to drive growth

STOCKHOLDERS’ MEETING: LT Group president Michael G. Tan (left) addresses stockholders during the conglomerate’s annual shareholders’ meeting yesterday at Seda Hotel in Bonifacio Global City. Looking on is LT Group vice chairman Harry C. Tan. MIKE AMOROSO MANILA, Philippines – Conglomerate LT Group Inc. is capitalizing on the market leadership of its core businesses of tobacco and liquor for further growth, its top executive said yesterday. “We will focus on our core business and fully capitalize on our market leadership position to benefit from the strong demand in growth in consumer-focused businesses,” LT Group president Michael G. Tan told reporters. Non-core businesses like Philippines Airlines (PAL) will end up on the selling block as the company focuses on the consumer sector, he said. LT Group will also take advantage of synergies in its operating units through cross selling while improving the distribution network, Tan said. LT Group of tycoon Lucio Tan is into beer (Asia Brewery Inc.), distillery (Tanduay Distillers Inc.), real estate (Eton Properties Philippines Inc.), banking (Philippine National Bank) and tobacco (PMFTC Inc.). Tan said the group is heavily exposed to the consumer sector, which accounts for two-thirds of the local economy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We are right where we want to be as we aim for stronger growth and higher profitability,” Tan said. In April, LT Group raised P37.72 billion in the largest follow-on share sale of a Philippine company that will allow the conglomerate to support the organic expansion of Read More …

Chemrez declares P117-M cash dividends

Economy

Jun 192013

MANILA, Philippines – Chemrez Technologies Inc., the country’s leading producer of biodiesel, resins and oleochemicals, has declared regular and special cash dividends to its shareholders worth a total P117.26 million. In a disclosure to the Philippine Stock Exchange (PSE), Chemrez, a company that utilizes green technology said that its board of directors has approved a regular cash dividend of P0.06 per share as well as a special cash dividend of P0.03 per share or a total of P0.09 per share. Shareholders of record as of July 17 will be entitled to both the regular and special cash dividends, which will be payable on Aug. 12. To date, Chemrez has an outstanding capital amounting to 1.3 billion shares. Since 2001, the company has been consistently declaring cash dividends although it does not have a regular or fixed policy on dividends. Chemrez has been announcing a regular cash dividend of P0.06 per share plus special cash dividends of P0.03 to P0.09 per share annually since 2008. The dividend amount is equivalent to about 45 percent of the company’s 2012 net income of P257 million. Chemrez officials said while the company continues to face challenges in the local and export markets, it remains committed to continue rewarding its loyal shareholders with a substantial portion of its earnings. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 An affiliate of D&L Industries, Chemrez advocates green technology. It is an active product innovator, producing biodiesel and other chemicals such oleochemicals. The chemicals have been proven Read More …

Phl posts $75-M BOP surplus

Economy

Jun 192013

MANILA, Philippines – The Philippines still managed to post a balance of payments (BOP) surplus in May despite the start of a huge sell-off in the financial markets. The country’s BOP — which measures all inflows and outflows — posted a surplus of $75 million last month, the lowest for the year, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. BSP officials could not be reached for comment. A surplus indicates more than enough resources to meet external trade and debt obligations. It brought the year-to-date tally to $1.884 billion, a wider surplus against the $1.302 billion in the same period last year. Financial markets have slumped after reaching its peak last May 15, owing to investor concerns the US economy would scale down its stimulus measures soon. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 As a result, foreign portfolio investments — which record placements to bond and stock markets — plunged to a net outflow of $640 million in May, the highest on record. Portfolio investments, together with foreign direct investments, feed in the capital account segment of the BOP. While this portion was on the negative, BOP sourced strength from current account flows, which included remittances and exports. BSP data showed remittances hit $6.916 billion as of April, up 5.7 percent. Merchandise exports, meanwhile, went down 7.95 percent to $16.12 billion for the first four months.

One Network Bank adds more branches

Economy

Jun 192013

MANILA, Philippines – One Network Bank (ONB), one of the largest rural banks in the country with over P3 billion in assets, has added four more branches to keep its expansion program on track, its top executive said. ONB president Alex Buenaventura said the new branches are in San Enrique and Dingle in Iloilo City, two in Passi City, and Jordan in Guimaras. Buenaventura earlier said they would be adding 10 more branches and 55 extension offices within the next two years in Mindanao and in the Visayas, particularly in Panay Island. The bank currently has 94 branches and135 automated teller machines (ATMs). Buenaventura said they would also be introducing new point-of-sale (POS) debit cards and start efforts to engage in internet banking. At present, the bank has more than 615,000 depositors and some 98,2000 borrowers including the DepEd, local government units (LGUs) and barangays. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The bank’s assets, he said, stood at P20.8 billion while capital reached P3.3 billion todate. In the first three months of 2013, the Mindanao-based rural bank posted a 30-percent expansion in net income to P136 million from P104 million in the same period in 2012. Its loan portfolio rose to P 15.56 billion, which is 41 percent better compared to the first quarter of 2012. Loan expansion was reinforced by the deposit base, which grew 37 percent to P15.23 billion. Fee-based income, driven primarily by service fees on loans, rose 84 percent to P231 million. Non-performing Read More …

CNOOC talks very preliminary, says Pangilinan

Economy

Jun 192013

CNOOC talks very preliminary, says Pangilinan

MANILA, Philippines – Philex Petroleum Corp. chairman Manuel V. Pangilinan said their discussions with China National Offshore Oil Corp. (CNOOC) remains “very preliminary.” “I think I was asked earlier if there was a discussion with CNOOC and that continues on a very preliminary basis but (there is) nothing concrete to report,” Pangilinan told reporters in Camp Aguinaldo yesterday. When asked whether he is optimistic that the plan to explore and develop the gas-rich Recto Bank will push through, Pangilinan said: “I think it’s hard to say. At this stage, talks are very preliminary.” Earlier, Philex said it is considering forging a partnership with CNOOC to explore and develop the Recto Bank, which is located within 80 nautical miles from Palawan. The gas-rich area is the subject of a territorial dispute between the Philippines and China. In 2011, two Chinese ships reportedly bullied a civilian vessel commissioned by the Energy department while conducting an oil exploration survey in the area. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 China has denied the allegation and has consistently claimed that it has “indisputable sovereignty over the West Philippine Sea islands and their surrounding waters. Pangilinan maintained that his company is just discussing purely business issues with CNOOC. “We made it very clear to CNOOC that we are not authorized to talk about government issues so that’s why the talks are very preliminary at this stage,” the businessman said. “I’m sure they will have to go back to their government and we will go back to our Read More …

Pag-IBIG sees 15% earnings hike

Economy

Jun 192013

MANILA, Philippines – The Home Development Mutual Fund (Pag-IBIG Fund) is projecting its net income to grow 15 percent to P15 billion this year, from P13 billion registered in 2012. Likewise, Pag-IBIG president and chief executive officer Darlene Marie B. Berberabe said the state-run fund is looking to increase its membership base from the present 12.6 million to about 20 million this year. An increase in the number of members has a direct bearing on its earnings stream as contributions would also grow. A member is mandated to make a contribution of at least P100 a month. Berberabe said the principal target are the overseas Filipino workers (OFWs), three million of which are already members. Others include domestic helpers or kasambahays, the self-employed, and professionals. So far, but the biggest contributors to Pag-IBIG’s earnings are housing and member loans. Pag-IBIG has a housing loan portfolio worth over P21 billion. It also has P40 billion in investible funds other than the housing and cash loans. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We are in talks with fund managers for investments in the equity or stock market,” Berberabe said, adding they are also looking at the accreditation parameters for hiring a private fund manager. Pag-IBIG is mandated to invest up to 70 percent of its portfolio in housing while the rest are for member loans. It has declared a dividend package worth P9.3 billion, which goes to its members unlike other government financial institutions (GFIs) that must remit up Read More …

Daiana Menezes’ partner breaks silence on ‘abuse’

Entertainment

Jun 192013

MANILA (Mabuhay) — Outgoing Cagayan de Oro Rep. Benjamin Benaldo admitted “differences” with his partner, model Daiana Menezes, amid speculations about the Brazilian beauty’s controversial messages of “domestic violence” early this week. Benaldo, with “the consent of [his] partner,” issued a statement Thursday to address the “issues that have recently come out.” “Like any couple, […]

Filler Rebonding ( Hair Botox season 2)

Entertainment

Jun 192013

After regular straight perm, if you have dry or split hair, try hair botox to make your hair stronger. Straightening includes straighter and because of that, it’s easy to get damaged especially your hair was already little bit damaged. To reduce the disadvantages, hair botox is here now. After rebonding, if you do hair botox, […]

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