BPO employees drive growth of convenience stores

 Economy
Aug 112013
 
BPO employees drive growth of convenience stores

MANILA, Philippines – More convenience stores are expected to open in the country to take advantage of strong consumer spending, a top executive of a property consultancy firm said over the weekend. Colliers International research manager Karlo Pobre told reporters that even if there are many convenience stores in the country’s major business districts and information technology centers, more are still expected to open to serve middle class employees, particularly those in the business process outsourcing (BPO) sector. “The market is not saturated yet mainly because of the BPO sector. The closest retail store they (BPO employees) can get into is a convenience store,” Pobre said. The improvement in the income of these individuals is leading to  increased spending which will encourage the expansion of convenience stores. “You can just imagine that all buildings will have their own convenience stores,” he said. Among the players in the country’s convenience store market are 7-Eleven, run by Philippine Seven Corp.; Ministop Philippines under the Robinsons Retail Group; and FamilyMart operated by a joint venture of Japanese firms FamilyMart Co., Ltd. and Itochu Corp. with SIAL CVS Retailers of the Rustan’s Group and Ayala Land Inc. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 7-Eleven, currently has 900 outlets nationwide, 323 of which are in Metro Manila. It plans to open 100 more stores nationwide this year. Ministop has over 330 stores in the country, 66 percent of which are located in Metro Manila. FamilyMart, which entered the Philippine market earlier this Read More …

US says Japan has long way to go to open markets

 Economy
Aug 112013
 
US says Japan has long way to go to open markets

WASHINGTON — Japan still has a long way to go before it can say its markets are open, the top US trade official said on Friday. Trade Representative Michael Froman said he hopes Japan’s recent entry into the Trans-Pacific Partnership (TPP) free trade negotiations will provide opportunities to tear down those barriers. “I think we all bear the scars of trying to open Japan’s market in the past,” Froman told reporters at a briefing, acknowledging the “historical difficulties” in the trade relationship. In their long history of trade disputes, the US has alleged Japanese markets are closed to imports because of restrictive practices that are tolerated or even encouraged by the government. At the same time, Japan has relied heavily on exports as an engine of growth for its sluggish economy. Froman mentioned autos specifically — one of the thorniest issues in trade relations. “Right now, all foreign penetration of the Japanese auto market is six percent, and so I think everyone believes there is a long way to go before we can really say the Japanese market is open,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Japan formally joined the US and 10 other Asia-Pacific nations in negotiations to create a major new trade bloc during the 18th round of talks in Malaysia last month. With the addition of Japan, the 12 countries would account for some 40 percent of world trade volume. The other 10 countries are Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Read More …

Eastern Pet unit to build $70-M biomass plant

 Economy
Aug 112013
 
Eastern Pet unit to build $70-M biomass plant

MANILA, Philippines – Caraga Renewable Power Corp. (CARE CORP), a subsidiary of Eastern Petroleum Corp. (EPC), is investing $70 million to put up a biomass power plant in Butuan City. EPC chairman and CEO Fernando Martinez said the plant would have a capacity of 20 megawatt (MW) and would use wood chips as its feedstock. Martinez said they would source the feedstock from their industrial tree plantations in Agusan del Norte and Agusan del Sur and other industrial tree plantations. He said they hope to start the project next month. “Plant site in Butuan City is on final validation which will be decided this September to pave the way for necessary permitting,” he said. According to Martinez, the plantation that raises raises (falcata, acacia magnum trees) would be placed under a different corporation owned with a tribal council. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Our joint venture is with the Manobo Council Wawa Tribal Community in Agusan del Sur covering 10,000 hectares,” he said. Early this year, Eastern Renewables Corp., also a unit of EPC, signed an agreement with the Manobo Wawa Sectoral Tribal Council in Agusan del Sur to develop a 10,000-hectare industrial tree plantation that will supply the feedstock for its planned 20-MW biomass power plant. Eastern Petroleum chairman Fernando Martinez told reporters the agreement entitled the Manobo council a 20-percent share of the net revenues from the $60-million biomass plant. Martinez said the company hopes to complete the biomass plant by 2015. Martinez earlier Read More …

Talks on increased US military presence to abide by VFA

 News
Aug 112013
 
Talks on increased US military presence to abide by VFA

Malacañang on Sunday reassured the public the talks between the Philippines and the United States on an agreement that will allow “increased rotational presence” of US military in the country will not violate Philippine laws. Deputy presidential spokesperson Abigail Valte said the negotiations, which are reportedly set to start on Monday, will be under the framework of the RP-US Visiting Forces Agreement. “My understanding is that everything will be under the framework of the VFA. So ang modalities na lang on how to implement the rotational presence ang kanilang pag-uusapan,” she said on government-run dzRB radio. But she also appealed to the public not to make further speculations, and wait for the proper announcements. “(L)et’s wait for more information as they figure out the modalities on how to implement it,” she said. The talks come amid tension over territorial disputes between the Philippines and China over parts of the South China Sea (West Philippine Sea). An earlier report said the Departments of National Defense and Foreign Affairs sent a letter to the leaders of the Senate and the House of Representatives to inform them of the upcoming negotiations on the terms of the increased US military presence. In their letter, they said the Philippines “will shortly enter into consultations and negotiations with the United States on a possible framework agreement that would implement our agreed policy of increased rotational presence.” They also said that “(i)n both diplomacy and national defense, our strategic relationship with the United States remains crucial.” — Read More …

Labuyo moves closer to Aurora; 5 areas under Storm Signal 3

 News
Aug 112013
 
Labuyo moves closer to Aurora; 5 areas under Storm Signal 3

Typhoon Labuyo packs 140 to 170 kph winds, Signal No. 3 raised. PAGASA raised Public Storm Warning Signal No. 3 over Catanduanes as Typhoon Labuyo moved closer to Luzon Sunday morning and is expected to make landfall in Aurora on Monday. PAGASA At least five areas were placed under Storm Signal No. 3 as Typhoon Labuyo (Utor) moved closer to Aurora province Sunday morning, state weather forecasters said. PAGASA said Labuyo was estimated at 160 km northeast of Virac, Catanduanes, or 270 km east-northeast of Daet, Camarines Norte as of 10 a.m. In its 11 a.m. advisory, PAGASA said Labuyo packed maximum winds of 150 kph near the center and gustiness of 185 kph. Labuyo was moving west-northwest at 19 kph and is expected to be in the vicinity of Casiguran, Aurora, Monday morning. By Tuesday morning it is expected to be 270 km northwest of Sinait, Ilocos Norte, or in the northwest boundary of the Philippine area of responsibility. Storm signals Under Signal No. 3 are: CatanduanesCamarines provincesNorthern Quezon including Polilio IslandAuroraIsabela Under Signal No. 2 are: AlbaySorsogonRizalrest of QuezonLagunaBulacanNueva EcijaQuirinoNueva VizcayaBenguetIfugaoMountain ProvinceKalingaCagayan Under Signal No. 1 are: Calayan IslandsBabuyan IslandsIlocos NorteIlocos SurApayaoAbraLa UnionPangasinanTarlacZambalesPampangaBataanCaviteBatangasMarinduqueBuriasTicao IslandsMetro ManilaNorthern Samar Rainfall PAGASA said Labuyo may bring rainfall of 7.5 to 25 mm per hour (heavy to intense) within its 600-km diameter. It advised residents in low-lying and mountainous areas under storm signals to be alert against possible flash floods and landslides. Also, it warned residents in coastal areas under signals 2 and Read More …

Senate oversight committees, babawasan para makatipid

 News
Aug 102013
 
Senate oversight committees, babawasan para makatipid

Mahigpit na binubusisi ngayon ng Senado ang panukalang 2014 national budget para makahanap ng paraan kung paano makatitipid para magamit sa iba pang gastusin ng pamahalaan. Sa isang caucus, nagkaisa ang mga mambabatas na ibasura ang ilang congressional oversight committees na hindi na kailangan at tinatayang aabot ng P50 milyon ang matitipid ng Senado kada taon ayon kay Senate President Franklin Drilon. Aniya, pag-uusapan pa ng kongreso kung anong mga komite ang tatanggalin at mananatili.                           Ang oversight committees ay mga komite na itinatag sa pamamagitan ng batas o resolusyon upang bantayan ang pagpapatupad ng isang batas. Bilang nasa mayorya, pabor si Sen. Ferdinand Marcos sa nasabing reporma para malinaw sa publiko kung saan napupunta ang pondo. “Yes, very much.  Ayaw naman namin na may duda ang tao dun sa paggamit sa pondo ng bayan,” saad ng senador, bagama’t maliit  ang P50 milyon na matitipid sa isang taon, dagdag pa niya. “It depends kasi which accounts to look at. Pero kung titingnan mo yung oversight committees, magkakaroon ng savings na P650 million from  what the budget is from last year,” aniya. Isa sa irerekomenda niyang alisin ang kaniyang dating oversight committee sa Special Purpose Vehicles (Act) sa nakalipas na kongreso, dahil tapos na ang scheme nito. “On the other hand, may ibang oversight committee by mandate of law,  ‘di mo naman pwedeng i-cancel unless baguhin mo yung batas. But kung wala nang functions ‘di na popondohan – ganun more or less… it’s just trying to make sense of the system of committee and the use of oversight committees, Read More …

NDRRMC on red alert for Typhoon Labuyo; Red Cross alerts chapters

 News
Aug 102013
 
NDRRMC on red alert for Typhoon Labuyo; Red Cross alerts chapters

Typhoon Labuyo from the east, monsoon and possible LPA to the west. While Typhoon Labuyo comes from the east in the Pacific Ocean with 140 to 170 kph winds, PAGASA said the typhoon may enhance the southwest monsoon. Surface winds forecasts also show that a possible low pressure area may be forming just outside the Philippine Area of Responsibility far out to the west of Palawan. PAGASA The National Disaster Risk Reduction and Management Council was placed on red alert Sunday morning for the possible effects of Typhoon Labuyo (Utor). NDRRMC spokesman Maj. Rey Balido said a red alert was declared at 8 a.m., with all concerned personnel on standby. “Nag-declare tayo ng red alert effective 8 a.m. Ang regions na naapektuhan at maapektuhan sa susunod na araw, on standby na [ang mga tauhan nila],” Balido said in an interview on dzBB radio. He said those particularly on alert include disaster management teams in Ilocos, Cagayan Valley, Central Luzon, and Cordillera. Also, Balido said teams from various government agencies are on alert and ready to respond to contingencies. These include the Department of Social Welfare and Development, Armed Forces of the Philippines and Philippine National Police, he said. Earlier Sunday, PAGASA said Labuyo intensified further and may make landfall over Aurora province on Monday. Catanduanes province was placed under Storm Signal No. 3 while nine areas were under Signal No. 2 and 26 areas including Metro Manila under Storm Signal No. 1. PAGASA forecaster Glaiza Escullar also warned Labuyo is Read More …

Buy only cosmetics listed on FDA website, consumers advised

 News
Aug 102013
 
Buy only cosmetics listed on FDA website, consumers advised

Consumers – especially netizens – planning to buy cosmetic products should check with an online database of authorized products first. This was the gist of the Food and Drug Administration’s Advisory 2013-021, which also exhorted consumers to buy the authorized products only from legitimate outlets. “For protection, consumers are enjoined to access the FDA website (http://www.fda.gov.ph) to verify if a Certificate of Notification has been issued, use the SEARCH tab found in the upper right hand corner of the website,” acting FDA chief Kenneth Hartigan-Go said in Advisory 2013-021. “Type the product name and wait until the name of the product appears.  The product name and other details will appear, namely the name of the company, the Certificate of Notification No. (NN No.), and product variants,” he said. “All consumers are advised NEVER to buy cosmetic products that are not authorized by the FDA and to buy only from legitimate outlets.  Cosmetic products are health products that may need advice or assistance from a pharmacist or trained healthcare product provider on the proper use, a service which only a legitimate outlet can provide.  Consumers are further advised NOT to buy cosmetic products, among other health product needs, from ambulant and sidewalk vendors,” he added. Consumers should also report adverse reactions from using a specific cosmetic product via email at report@fda.gov.ph, Hartigan-Go said. For other inquiries, they can email the FDA at info@fda.gov.ph, he said. Outlawed list may grow too long Hartigan-Go said that while the FDA had released several advisories Read More …

JP Morgan sees further SDA rate cut

 General
Aug 102013
 
JP Morgan sees further SDA rate cut

MANILA, Philippines – JP Morgan Chase Bank NA expects the Bangko Sentral ng Pilipinas (BSP) to cut interest rates on special deposit accounts (SDAs) by another 50 basis points (bps) this year. JPMorgan Chase economist Matt L. Hildebrandt said another 50 bps cut in SDA rate looms, on top of the successive 50-bps rate cuts this year, even if the timing is uncertain. “This would leave the SDA and the repo rates each 200 bps below and above the reverse repo rate (currently 3.5 percent),” Hildebrandt said in a report. He explained that consumer prices rose 0.3 percent month-on-month in July, leaving them up 2.8 percent quarter-on-quarter from 1.7 percent in June. Despite the higher sequential rates, prices rose only 2.5 percent in July compared to 2.8 percent in June, he said. “This leaves the consumer price index (CPI) below the BSP’s four percent plus-minus one percent target range for the fourth straight month,” the bank economist said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Core prices (excluding food and energy) rose 0.2 percent month-on-month and up 1.1 percent quarter-on-quarter. Core prices were up just 2.3 percent compared to 2.9 percent in July, leaving them at their lowest rate since the global recession, Hildebrandt said. Price pressures were concentrated in food and transport. Food rose 0.4 percent month-on-month, for the third straight month leaving prices up 3.6 percent quarter-on-quarter, after more benign readings in prior months. Transport prices rose 0.7 percent month-on-month, following a 0.8 percent gain in Read More …

Asean countries urged to comply with EITI global standards

 Economy
Aug 102013
 
Asean countries urged to comply with EITI global standards

YANGON – ASEAN countries including the Philippines can help protect their oil, gas and mining industries by complying with the Extractive Industries Transparency Initiative (EITI), a global standard that calls for disclosure of payments and receipts, a leading anti-corruption advocate yesterday said. Erry Riyana Hardjapamekas, former chief executive officer of Indonesia’s Tambang Timah PT, the world’s largest tin producer, estimates that in ASEAN countries, at least 10 percent of government revenues from extractive industries are likely lost to corruption.  “One measure to prevent corruption is the EITI because one basic thing in combatting corruption is transparency,” he told Southeast Asian journalists here. He said that without proper disclosure, revenues from extractive industries such as oil, gas and mining, may not be maximized and instead are lost to corruption.  “It’s difficult to measure how much corruption there is in each country but we can feel it. It could be reflected on the quality of public services,” Harjapamekas said. Governments could show they are serious in combatting corruption through the EITI. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “It shows how serious governments are in combatting corruption in their extractive industries,” he said. In the region, EITI is becoming a big issue with Indonesia, the Philippines, Myanmar and Vietnam which  are all making efforts to hold companies and governments accountable for the revenues they make from extractive industries. Marie Gay Alessandra Ordenes, the national coordinator of Philippines-EITI said in an article posted on the Philippines-EITI website that efforts to join Read More …

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