June 2013 – Page 30

Mechanization is the only way to go

Economy

Jun 142013

Many of our businessmen are keen on manufacturing, or import/export, or IT, or BPO. Only a few would give a second thought to the country’s agriculture sector, to the advances that we have gained over the last few years. Maybe because they are not trumpeted for the most part, but also because we tend to take agri news with a big ho-hum. What we know for a fact is that we have lagged behind our neighbors in this sector. Where we used to be the lead producer of rice and sugar, we are now a net importer of rice and other countries have now challenged us too in sugar production. Countries like Thailand, Taiwan, Japan and Korea have overtaken us simply because they have embraced technology far earlier than us, and their governments have taken the initiative of empowering their farmers initially through subsidies, but later through production and marketing support while we continue to wallow in bureaucracy, corruption and blissful ignorance. But take a second look now at what is going on in the country’s agriculture sector. For one, we have taken the first big step in mechanizing. In the late ’90s, mechanization of our farms stood at a low .52 – .56 HP/hectare. That means, the total horse power used is only about one half horsepower per hectare. In 2012, Philmech, the lead agency under the Department of Agriculture (DA) tasked with farm mechanization, took a survey and came out with brighter results: 1.26 HP/ha. That is a Read More …

European economic growth still on US agenda

Economy

Jun 142013

European economic growth still on US agenda

WASHINGTON (AP) — A year after President Barack Obama made an emphatic pitch to Europe’s economic powers to focus more on economic growth than austerity, much of the eurozone remains mired in or near recession. Obama’s appeals have had mixed results in softening the demands on some of the most debt-ridden European nations to cut their spending. Still, the region’s crisis is no longer perceived as an urgent threat to the global economy, and while the US still wants Europe to temper the debt trimming and increase global demand, Obama is not expected to be as insistent with other leaders of the Group of Eight industrial nations when they meet in Northern Ireland next week. Last year, the G-8 leaders assembled at the Camp David, Md., presidential retreat in the aftermath of European elections that represented a revolt against the austerity measures pushed by German Chancellor Angela Merkel. When Obama greeted Merkel and asked how she had been, the German leader merely shrugged. “Well, you have a few things on your mind,” Obama replied then. These days, the furor has died down, high-debt nations have been given more time to work on their fiscal cuts, and even the language has changed from “austerity” to “growth-oriented structural reforms.” “Relative to last year, things are somewhat better in that the European situation is more contained,” said Matthew Goodman, a former Obama international economics adviser now at the Center for Strategic and International Studies. “The risks that people were worried about have been Read More …

Get a mind tuck

Economy

Jun 142013

High in my non-negotiable priority list in life is to take care of my body, maintain a healthy lifestyle, continue to pursue knowledge, master my moods and emotions, maintain a network of people I trust and who trust me, and continue to strengthen my spiritual walk. In light of all these, I have set a couple of perspectives. Let me share those with you. I’ve promised myself never to retire. I don’t want to coast my way into retirement. I still want to make a difference in this world. But what God wants from me is totally different from what all the Hollywood, media and marketing messages are saying. God made me to be me; not some version of perfection now appearing at a theater near you. This is why I have a plan. I have a plan for my health maintenance. I have a plan for my self-education and intellectual development. I have a plan on how to master my moods and emotions. I have a plan on how to maintain my network of close connections. Most important, I have a plan on how to keep my personal relationship with Christ intimate and vibrant through the years. Without a plan I fail. If you fail to plan then you plan to fail, goes the adage. Stop dragging your feet, procrastinating and putting off planning and execution. If you’re overweight and unhealthy, don’t wait for a tummy tuck; start with getting a mind tuck. The constant thought that “It’s so Read More …

Consumer confidence hits record high

Economy

Jun 142013

MANILA, Philippines – Consumer confidence has hit record high this quarter as the country’s strong economic growth is expected to translate to more investments, more hiring and higher salaries, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. According to the results of the Consumer Expectations Survey, the overall confidence index (CI) climbed to -5.7 percent for the next quarter from -11.2 percent in the previous three months. The current CI – although still negative – is the highest since the BSP survey began in the first quarter of 2007, central bank assistant governor Ma. Cyd Tuaño-Amador told reporters in a briefing. A negative result in the index indicates the pessimists outnumber the optimists “although the margin between the two declined to its lowest ever,” she said. Rosabel Guerrero, director of the BSP’s department of economic statistics, attributed the result to “better job opportunities, increased investment inflows that would support job creation and salary increases.” “Consumers also cited the country’s strong macroeconomic fundamentals and the investment grade credit rating by Fitch Ratings as factors that contributed to their more bullish outlook,” she told reporters. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The local economy expanded 7.8 percent in the first three months of the year, surpassing market expectations to become Asia’s fastest growing economy. This was achieved against the backdrop of a slow three-percent inflation. Slow inflation and a “stable” foreign exchange rate give consumers more purchasing power to spend for goods and services, in addition to public savings. Read More …

SM Supermalls wins Reader’s Digest Trusted Brands award

Economy

Jun 142013

SM Supermalls wins Reader’s Digest Trusted Brands award

MANILA, Philippines – The SM Supermalls recently received a Platinum Award in the Reader’s Digest Trusted Brands Shopping Centers/Malls category during ceremonies held recently at the Edsa Shangri-La, Manila. The award, which is considered the ultimate seal of consumer approval, has been a tradition for Reader’s Digest Asia since 1999. The Reader’s Digest Trusted Brands Survey has a well-established reputation as the premier consumer-based and international measure of brand preference. It seeks to identify which brands consumers in Asia trust and provides an objective and reliable reference for consumers throughout the region. Survey respondents are asked to name their most trusted brand in each of the product categories, and then give each brand they name a rating from one (poor) to five (excellent), on six qualitative criteria: Trustworthiness and Credibility, Quality, Value, Understanding of Customer Needs, Ability to Innovate, and Social Responsibility. Each brand then receives a mathematical score based on the number of respondents who named it multiplied by the average rating of the six qualitative criteria. Awardees are given gold and platinum recognitions. Brands that have a clear lead over competitors receive a gold award. Brands that score three times more than their nearest competitor get a platinum award. SM Malls have been recipients of the Reader’s Digest Trusted Brands Awards for the past years – SM North EDSA, SM Megamall, and the SM Mall of Asia in 2011 and SM North EDSA and SM Megamall in 2012. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Unspent campaign contributions are taxable income if not returned to donor, says Comelec chairman

News

Jun 142013

Unspent campaign contributions are taxable income if not returned to donor, says Comelec chairman

Candidates may keep whatever campaign contributions they have left after the recent polls, but they would have to pay income tax, poll chief Sixto Brillantes Jr. said. The taxable income is computed by deducting total expenses from contributions. “They can keep the money but that is income. That will be subjected to tax if they don’t return it to the donor,” said Brillantes on Friday, adding that the Commission on Elections (Comelec) would be assisted by the Bureau of Internal Revenue. According to available statements of election contributions and expenditures (SOCE), Nancy Binay of the United Nationalist Alliance earned the most income at P8,174,341.68. She is followed by independent candidate Ramon Montano with an income of P5,246,175.00. Team PNoy’s Bam Aquino comes in at third with an income of P1,165,012.19, LP Coalition’s Chiz Escudero at P746,690.90, and UNA’s Jack Enrile – the senatorial bet with the most expenses – at P396,838.09. Surprise frontrunner Grace Poe of Team PNoy earned P156,346.41. So far, those who spent more than their contributions are: Loren Legarda, Cynthia Villar, Antonio Trillanes IV, Alan Peter Cayetano, Sonny Angara, Jun Magsaysay, Jamby Madrigal, Ricardo Penson, Ernesto Maceda, Christian Seneres, Baldomero Falcone, and Eddie Vilanueva. There are still no data available to the media for the rest of senatorial bets. According to Republic Act 7166, every candidate and treasurer of a political party shall be required to file an itemized statement of all contributions and expenditures within 30 days after Election Day. The deadline was on June 13, Read More …

Pilipinas Shell claims it added chemical that gives odor to Two Serendra LPG supply

News

Jun 142013

Pilipinas Shell claims it added chemical that gives odor to Two Serendra LPG supply

The supplier of the liquefied petroleum gas to Two Serendra has claimed that the LPG it provided the condo complex had an additive meant to give the gas a distinct odor. “We do inject a chemical additive called ethyl mercaptan in what we supply,” Roberto Kanapi, vice president for communication of Pilipinas Shell, told GMA News Online. He added that, “We even inject more than what is required by ASTM (American Society for Testing Material).” Investigators have been trying to determine why the tenant of the condo unit which got blown away in a powerful blast at Two Serendra on May 31 did not notice any smell that would have served as a sign that LPG was leaking in the supply pipes. Fort Bonifacio Development Corporation (FBDC), the main developer of 240-hectare Bonifacio Global City, chose Pilipinas Shell as its joint venture partner with Bonifacio Gas Corporation in the supply and building of piped gas installations in the development. Bonifacio Gas, incorporated on November 12, 1998, was formed to build and operate an underground pipeline network that will provide a centralized gas distribution system within the Bonifacio Global City. FBDC is backed by the Bases Conversion Development Authority, Ayala Land Inc. (ALI) and Evergreen Holdings Inc. of the Campos Group. On June 7, Interior Secretary Mar Roxas II said a gas leak, not a bomb, was the most likely cause of the May 31 explosion, which left three people dead and six others injured. The DILG order prompted ALI to Read More …

Leni Robredo on new job: Scared but confident

Entertainment

Jun 142013

MANILA, June 13 (Mabuhay) — Leni Robredo, the incoming representative of Camarines Sur’s 3rd district, had a preview of the job that awaits her at the House of Representatives, and she admits it is scary. Robredo, along with her staff, is currently studying a certificate course on development legislation and governance at the Development Academy […]

Bidding for LRT extension deferred

General

Jun 142013

Philippine Daily Inquirer 9:14 pm | Friday, June 14th, 2013 The transportation department is postponing the bidding for the P60-billion LRT Line 1 Cavite extension and operation project to the end of next month from June 17 to give participating groups additional time, a regulatory filing Friday showed. The decision followed recent discussions with the private sector made during one-on-one sessions with the Department of Transportation and Communications (DOTC). “Please be notified that the bid proposal submission date is hereby extended to July 30, 2013,” the filing, signed by Transportation Undersecretary Jose Perpetuo Lotilla, showed. There are four qualified bidders for the project, which aims to extend the LRT Line 1 from the Baclaran terminal to the Niyog station in Bacoor, Cavite. This will also increase average weekday ridership from 560,000 passengers to 820,000 passengers by 2015. The bidders are Consunji-led DMCI Holdings Inc., the Light Rail Manila consortium (Metro Pacific Investments and Ayala Corp.), the consortium of SMC Infra Resources Inc. led by San Miguel Corp.) and the MTD Samsung consortium headed by Malaysia’s MTD Group and South Korea’s Samsung. Two other local groups, Romero-led EcoRail and Light Rail Transit Systems, also submitted documents but were disqualified for being late. Lotilla told reporters early this week that the transportation department was mulling over the postponement of the bidding, citing several unsettled “issues.” He declined to elaborate. “The bidders needed more time,” he said, noting that a project like the LRT Line 1 extension could be complicated given its “highly Read More …

DENR to pulverize seized elephant tusks

Entertainment

Jun 142013

MANILA, June 13 (Mabuhay) — About 5,000 kilos of ivory seized by authorities over the past 17 years are set to be destroyed next week, according to the Department of Environment and Natural Resources (DENR). The sale and distribution of elephant tusks around the world is forbidden, but trade continues because of the high value […]

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