Seoul mayor suggests subways as traffic fix for Metro Manila

 News
Aug 132013
 
Seoul mayor suggests subways as traffic fix for Metro Manila

By Niña P. CallejaPhilippine Daily Inquirer 9:27 pm | Tuesday, August 13th, 2013 EDSA. File photo MANILA, Philippines — The mayor of Seoul — a human rights activist and lawyer who earned the prestigious Ramon Magsaysay Award in 2006 — met with Metro Manila officials on Tuesday to foster long-term partnerships in addressing urban development issues. Mayor Park Won Soon received a warm welcome from several Metro Manila mayors and Metropolitan Manila Development Authority Chairman Francis Tolentino at the MMDA headquarters in Makati City, in arrival rites complete with a brass band and MMDA employees waving the South Korean flag. In a two-hour meeting with the mayors, Park offered his government’s help to Metro Manila, inviting Philippine officials to come to Seoul for them to learn in detail how the Philippine capital could handle common problems facing megacities, such as traffic jams and flooding. Among the best practices and projects he cited were Seoul’s modern transport solutions, including a 115-kilometer bus transit system, a 327-kilometer urban railway system, and government efforts to make mass transport not only efficient but also environment friendly. Asked what he could recommend for Metro Manila’s perennial traffic mess, Park proposed an interconnected metro system and the construction of a subway. “The subway is the most efficient (mode of) transportation from the outskirts of Seoul to downtown. I recommend that you have consultations with international traffic experts for the establishment of a metro system,” Park said. “The cost may be very high but it will be Read More …

Recruiters eye to fill 3,000 jobs as Taiwan lifts hiring freeze

 News
Aug 132013
 
Recruiters eye to fill 3,000 jobs as Taiwan lifts hiring freeze

By Tina G. SantosPhilippine Daily Inquirer 8:12 pm | Tuesday, August 13th, 2013 FILE PHOTO MANILA, Philippines–Local recruitment agencies are looking to deploy some 3,000 workers for electronic factories to Taiwan, nearly a week after the Taiwanese government lifted its hiring freeze on Filipino workers. Angelo Tong, president of Pilipino Manpower Agencies Accredited to Taiwan, said Taiwan is in need of some 3,000 workers for electronic factories that did not hire workers from other countries and instead patiently waited for Filipinos, their preferred choice of workers, for the highly-skilled positions in their companies. In a statement, Tong admitted that a few companies had to get Vietnamese workers for those positions that needed to be filled since OFWs, whose work contracts were up for extension or renewal, had to return home to wait for developments following tensions the past three months over the death of a Taiwanese fisherman. “With the issue now behind, we are very optimistic that these workers will be recalled by their companies to their previous positions,” he said. Last week, Taiwan lifted a freeze on the hiring of Filipino workers, after the Philippines relayed its apology to the family of the fisherman killed in an encounter with Philippine Coast Guard personnel in disputed waters last May 9. Meanwhile, Taiwan’s office in Manila on Tuesday posted online the guidelines for prospective Filipino job seekers. The Taipei Economic and Cultural Office said this applies to work permit applications of blue-collar workers, including first-time applications, substitutes and re-hiring. TECO said Read More …

Militants oppose talks for larger US presence in PH

 News
Aug 132013
 
Militants oppose talks for larger US presence in PH

By Frances MangosingINQURER.net 7:41 pm | Tuesday, August 13th, 2013 A Filipino activist holds a slogan during a rally outside Camp Aguinaldo military headquarters in suburban Quezon city, north of Manila, Philippines on Tuesday, Aug. 13, 2013. The group is protesting against a proposed increase in U.S. military presence in the Philippines to help the country defend its territorial waters amid a conflict with China in the South China Sea. AP MANILA, Philippines – Militants led by Bagong Alyansang Makabayan protested Tuesday the upcoming negotiations for greater access of US troops in the Philippines during a rally staged in front of Camp Aguinaldo. “The biggest lie being peddled now by the Aquino government is the one that says the US will help us in the territorial dispute against China. While there is a need to stand up to China’s aggressive and assertive behavior, the US will not really help us. The US will not go head to head with China nor is it under any obligation to take our side in any territorial dispute. The US has many economic interests in China. The US is merely exploiting the dispute,”  Bagong Alyansang Makabayan Secretary General Renato Reyes said. Talks between the Philippines and United States on the increased rotational presence of American forces in the country will start Wednesday at Department of National Defense headquarters at Camp Aguinaldo. This move is seen as a restraint to China’s expanding military might and its aggressiveness in the West Philippine Sea (South China Sea). China Read More …

Estrada lauds Taiwan move to lift sanctions vs PH

 News
Aug 132013
 
Estrada lauds Taiwan move to lift sanctions vs PH

By Maila AgerINQUIRER.net 5:35 pm | Tuesday, August 13th, 2013 Senator Jose “Jinggoy” Estrada. FILE PHOTO MANILA, Philippines — Senator Jose “Jinggoy” Estrada on Tuesday lauded Taiwan’s decision to lift sanctions it earlier imposed against the Philippines, saying this would pave the way for the resumption of bilateral ties on trade, investments, and hiring of overseas Filipino workers. “This resumption of productive relations between the two governments definitely results to mutual benefits. It is especially a very positive development for our OFWs,” Estrada, chairman of the Senate committee on labor, said in a statement. The reported lifting of sanctions came after the National Bureau of Investigation recommended the  filing of charges against  Coast Guard personnel  involved in the  fatal shooting of a Taiwanese fisherman in an encounter last May 9. The Philippines through Manila Economic and Cultural Office (MECO) chairman Amadeo Perez Jr. also issued an apology to the family of 65-year old fisherman Hung Shih Cheng who was killed during the encounter. Estrada pointed out information showing that Taiwan is among the top destinations of OFWs and is host to some 80,000 to 100,000 Filipino workers. Statistics also showed that the deployment of workers in Taiwan is estimated at 40,000 every year. He then urged Philippine officials, particularly the MECO, to beef up steps aimed at further strengthening and normalizing the two governments’ relations. Tension rose, he noted, during the three months that the issue was being addressed and investigated, and actual incidents of harassment against Filipinos in Taiwan Read More …

9 places on DFA’s shortlist of possible Apec venue

 News
Aug 132013
 
9 places on DFA’s shortlist of possible Apec venue

By Matikas SantosINQUIRER.net 5:31 pm | Tuesday, August 13th, 2013 DFA Undersecretary for International Economic Relations Laura Q. Del Rosario. Photo from http://www.philippineembassy-usa.org MANILA, Philippines – With at least two years before the country hosts the annual Asia-Pacific Economic Cooperation (Apec) Summit in November 2015, the Department of Foreign Affairs (DFA) has already shortlisted nine places throughout the Philippines where the meetings of delegates from 21 countries in the Pacific rim will be held. The places are Clark, Metro Manila, Tagaytay, Legazpi City, Iloilo City, Boracay, Bacolod City, Davao City, and Cebu City, DFA Undersecretary for International Economic Relations Laura Q. Del Rosario told reporters in an interview. “These are the locations that are under serious consideration. [They] were reviewed as having passed the initial requirements [and will be subject to] further evaluation,” she said. Among the initial requirements for the cities to be able to host the many meetings of delegates are access and accommodations. “The locations must have airports and should be within one hour commute from the hotel and convention center,” Del Rosario said. Some of the meetings would be attended by hundreds of participants and this will require that the convention center must have enough space to sit them all together and the hotels there must also have sufficient rooms. There are around eight ministerial meetings, four senior officials meetings, and then the highlight APEC summit. Del Rosario said that instead of just assigning which Local Government Units (LGUs) will host the meetings, they asked them Read More …

DFA disputes Trillanes over PH plan for larger US presence

 News
Aug 132013
 
DFA disputes Trillanes over PH plan for larger US presence

By Matikas SantosINQUIRER.net 5:09 pm | Tuesday, August 13th, 2013 Department of Foreign Affairs spokesman Raul Hernandez and Senator Antonio Trillanes INQUIRER FILE PHOTO MANILA, Philippines – The Department of Foreign Affairs (DFA) disputed the allegations of Senator Antonio Trillanes IV that the negotiations between the United States and the Philippines for increased rotational presence of their troops was being unjustly hyped. “Defending what is ours, securing our nation, and keeping our people safe is a combined effort of diplomacy and defense, the partnership of the DFA and Department of National Defense (DND) is of paramount importance,” DFA spokesman Raul Hernandez told reporters Tuesday. “We need to be transparent to the public; we need to let our people know how we intend to protect and safeguard their interest and welfare at all times,” he said. Trillanes said Monday that the negotiations between US and the Philippines should be a national security matter only and the DFA should not have a role. “I believe that is an operational matter that does not need the consent of the Senate so they should have studied it first before they give it hype,” Trillanes said. “That should be a defense matter, it’s not a foreign relations matter. It is a national security concern, only [DND] secretary Voltaire Gazmin should be speaking about that matter,” he said. The ongoing territorial dispute over the West Philippine Sea (South China Sea) between the Philippines and China should not be connected to the policy of the US to Read More …

US looking forward to successful base access talks with PH

 News
Aug 132013
 
US looking forward to successful base access talks with PH

By Tarra QuismundoPhilippine Daily Inquirer 5:05 pm | Tuesday, August 13th, 2013 The USS Frank Cable, a submarine tender, docked in the Alava Pier of the Subic Bay Freeport . Photo by Robert Gonzaga MANILA, Philippines — The United States is confident about the positive conclusion of its base access talks with the Philippines, reiterating its support for the country’s defense buildup and preparedness for disaster response. In a statement on Tuesday, US Embassy officials expressed hopes that negotiations, set to begin on Tuesday, in Manila, would reinforce the long-standing partnership between the two allies as both keenly pursued a common bid for a more stable Asia-Pacific region. “We support the Philippine Government in its desire to build a credible defense and respond rapidly during times of humanitarian crisis and natural disasters,” said US Embassy officials in a statement sent to the Philippine Daily Inquirer. “We are optimistic that the first round of negotiations will result in positive outcomes that will further strengthen our 62-year alliance,” officials said. Foreign Affairs Secretary Albert del Rosario and Defense Secretary Voltaire Gazmin on Monday announced the formal start of negotiations between the Philippines and the US on the latter’s expanded access to Philippine military bases, a move that has invited criticism from those long opposed to US military presence here. Del Rosario earlier said the talks would include discussions on “modalities and parameters” within which US troops would be allowed greater rotational presence in the Philippines under existing bilateral agreements and in compliance Read More …

First Gen earnings drop 17% to $77.7 M in H1

 Economy
Aug 122013
 
First Gen earnings drop 17% to $77.7 M in H1

MANILA, Philippines – First Gen Corp. posted a net income of $77.7 million in the first half of 2013, down 17.4 percent from $94 million in the same period last year.  First Gen president Francis Giles Puno attributed the drop in earnings to the lower income booked by subsidiary First Gen Hydro Power Corp. (FG Hydro) owing to reduced sales from ancillary services.  However, Puno said they had anticipated the decline in earnings for the period. “The dip in earnings was expected given the reduced revenues from ancillary services and further delays in the rehabilitation of BacMan,” the First Gen executive said.  “The incident at San Lorenzo’s Unit 60 was unfortunate, but we have already ordered a new transformer to get the unit back in operation as soon as possible,” he added.  “While EDC actually generated higher revenues and achieved savings in its operating expenses, the foreign exchange losses could not be avoided with the depreciation of the peso,” he noted.  Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The company is extremely busy in executing its growth projects, including the 87-megawatt wind farm in Burgos, the 40-MW Negros transfer project, and the 500-MW San Gabriel natural gas projects,” he added. Puno said the 1,500-MW First Gas plants also incurred higher interest expenses and provision for deferred income tax due to the depreciation of the peso, though partially offset by the contribution of the purchase of the BG Group’s 40 percent stake in the plants in May 2012.  Its Read More …

D&L Industries posts 16% profit hike

 Economy
Aug 122013
 
D&L Industries posts 16% profit hike

MANILA, Philippines – D&L Industries Inc., a leading manufacturer of customized food ingredients, posted a strong double-digit profit growth in the first half, driven by increased turnover for high margin specialty products. The firm’s net income jumped 16 percent to P655 million in the first semester, keeping D&L on track to hitting a record net income of nearly P1.4 billion for the entire year, a top company executive said. But revenues dropped 17 percent to P4.9 billion due to lower prices of commodities like palm oil that was passed on to customers. However, D&L said it benefited from high margin specialty products like customized specialty food ingredients, plastics and aerosols. High margin products accounted for 66 percent of the group’s overall sales, while low margin commodities like refined vegetable oils accounted for 34 percent of total turnover. “We are progressing further towards expanding our high-margin specialty businesses,” D&L said. The company expects to trim low margin products’ contribution to around 20 percent in the next five years. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We are capable of doing a lot more products. One reason why our margins increase is because of we are developing more ingredients for food, plastics and aerosols,” Alvin Lao, executive vice president and chief finance officer of D&L, said in a briefing. Hence, D&L said its gross profit margin picked up to 18.7 percent from 15 percent last year while net income margin hit 13.3 percent from 9.5 percent a year ago. “Overall, Read More …

Huge forex losses drag SMC to P2.4-B loss

 Economy
Aug 122013
 
Huge forex losses drag SMC to P2.4-B loss

MANILA, Philippines – Huge foreign exchange losses dragged diversified conglomerate San Miguel Corp. (SMC) into the red in the first semester. “Including unrealized forex losses, net loss attributable to the equity holders of the parent company amounted to P2.4 billion,” the food-to-power conglomerate said in a regulatory filing. In contrast, SMC posted a net income of P14.12 in the first semester of 2012. SMC said the strengthening of the dollar against the peso “resulted in foreign exchange losses of P10.2 billion in June dragging the company’s overall performance for the (first half).” However, excluding unrealized forex losses, SMC’s recurring net income hit P7.8 billion in the January to June period. “Forex losses mask the solid performance we had in our businesses. But we remain bullish about our underlying performance, which we attribute to a series of competitive advantages that should help us moving forward,” said SMC chairman and CEO Eduardo M. Cojuangco Jr. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the first half, the diversified conglomerate’s revenues reached P357.5 billion, up nine percent from last year due to strong performances from food subsidiary San Miguel Pure Foods and Petron Malaysia, which was consolidated into the the SMC Group in April 2012. SMC said its operating income picked up 19 percent to P28.9 billion “brought about by lower generation costs from SMC Global Power Corp. and growth in volumes in the food group’s operations.” Specifically, it benefited from favorable prices of raw materials on the back of higher Read More …

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