Xoom announces instant deposit service with BDO

 Economy
Dec 112013
 
Xoom announces instant deposit service with BDO

Money can be deposited instantly into any BDO account, 24 hours a day, seven days a week, 365 days a year SAN FRANCISCO, CA – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, and BDO, the largest bank in the Philippines, have collaborated to offer instant bank deposit to all BDO accounts. This new service allows Xoom customers to instantly send money directly into a BDO account. “Xoom is committed to providing ‘instant’ in all of our services, and we are pleased to launch instant deposit with the largest bank in the Philippines, BDO.” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “With our collaboration with BDO, people can rest assured that their loved ones can receive their money without waiting or having to be mindful of cut-off times. Xoom customers can send 24 hours a day, seven days a week, every day of the year from their computer, mobile phone or tablet.” In the past, people were mindful of cut-off times, arranging their schedule to get to the bank to deposit their money and not have to wait another full day. Instant deposit means no waiting on the part of either the sender or recipient, making this a fast and convenient service for all Xoom customers. Visit https://www.xoom.com/philippines for more information.

Pro-Friends to give 2 Sophie Units through Kapuso Milyonaryo

 Economy
Dec 112013
 
Pro-Friends to give 2 Sophie Units through Kapuso Milyonaryo

Property Company of Friends, Inc. (Pro-Friends) is set to give away two Sophie Units through GMA’s network promo, Kapuso Milyonaryo Todo Pamasko.  This is Pro-Friends’ way of giving back to the Filipino people in time for its Crystal Year celebration this coming February 2014.  Two lucky winners will win one Sophie unit each. Sophie is a 52 sqm single-attached house on an 80 sqm lot area inside Pro-Friends flagship project, Lancaster New City in Cavite.  It has three bedrooms, two toilet and baths and a provision for a one car garage. To realize the giving away of these dream homes, Pro-Friends partnered with GMA Network Inc.  Aside from the two house and lot packages from Pro-Friends, GMA will be giving away more prizes weekly through Kapuso Milyonaryo. Sending of entries started last October 28 and will end on December 20, 2013.  For more information about the promo, you may visit www.gmanetwork.com/KapusoMilyonaryo.

Phl bourse slumps on fears over US Fed tapering

 Economy
Dec 102013
 
Phl bourse slumps on fears over US Fed tapering

MANILA, Philippines  (Xinhua) – The Philippine stock market slipped below the 6,000-level over fears that the US Federal Reserve would cut its stimulus program. The bellwether Philippine Stock Exchange index dived by 2.04 percent, or 122.54 points, to 5,886.40, while the broader all- share index lost 1.85 percent, or 68.22 points, to 3,612.58. Trading volume reached 633.93 million shares worth P7 billion ($159.06 million) with 124 stocks declining, 31 advancing, and 36 were unchanged. All six counters were down. “At this point, nothing appears able to spur confidence in equities with the index sustaining further declines,” analyst Justino Calaycay of Accord Capital Equities Corp. said in his daily stock market comment. Calaycay said not even the 16,000-level of the Dow Jones could entice investors who are balancing the timing of the Fed’s tapering on one hand and the oncoming budget talks on the other. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The analyst noted that he had already warned that a reduction in the US stimulus program is inevitable, but he said the question on everyone’s mind is when such reduction will be effected. Nevertheless, 2TradeAsia.com said separately that the recent drop might attract some investors to the battered issues. Stocks in the 30-company index were mostly down. These include Ayala Corp., Banco de Oro Unibank, Inc., and Megaworld Corp.

Roxas insists Tacloban relief was not politicized, offers lie detector test

 News
Dec 102013
 
Roxas insists Tacloban relief was not politicized, offers lie detector test

Mar hits back at Romualdez. DILG Secretary Mar Roxas II reads a transcript of a meeting with Tacloban City Mayor Alfred Romualdez during a press conference in Camp Crame in Quezon City on Tuesday, December 10. He was belying Romualdez’s claim that Tacloban city received little to no help from the national government in the aftermath of Yolanda, and that Roxas tried to play politics with him. Asti Flores Interior Secretary Mar Roxas said he was willing to take a lie detector test to prove he did not bring up clan politics with Tacloban Mayor Alfred Romualdez in the aftermath of Super Typhoon Yolanda. “Ang importante dito ang katotohanan,” said a visibly irate Roxas in a “24 Oras” report Tuesday.   On Monday, a teary-eyed Romualdez said in post-disaster assessment at the Senate that Roxas supposedly asked him in a meeting to cede control of the city to the DILG. The secretary also brought up clan politics during discussion, instead of immediately sending aid to the city. “Secretary Roxas said we should legalize everything… You have to remember: we have to be very careful because you are a Romualdez and the president is an Aquino,” Romualdez quoted Roxas. This did not sit well with Roxas, who clarified that he merely brought up the Romualdez-Aquino clan to avoid politicizing the disaster. “Ang ibig sabihin dun, kami ang national government. Dapat maingat kasi Romualdez siya. Baka mapulitika ito. Iniiwasan natin ang politika kaya nga [nagtataka] ako na bakit niya pinupulitika ngayon ito. Read More …

Posh Kids & Maternity launches online boutique

 General
Dec 102013
 
Posh Kids & Maternity launches online boutique

Posh Maternity by Edwin Tan features casual and formal long dresses. MANILA, Philippines -Shopping for fashionable formal ensembles can be a frustrating endeavor, especially for infanticipating fashionistas and busy mothers who wish to dress up their kids sensibly but have few available style options. Posh Kids and Maternity, the first Filipino designer label of its kind for ready-to-wear kids and maternity lines, was recently unveiled in Greenhills and has launched its online store. Charm Sevilla, the brains behind the retail clothing project, sees the added value of 24/7 shopping online. Charm says,  “For Posh Maternity, we have basic, streamlined silhouettes and some fancy dresses; Posh Kids has a robust selection of smart, trendy beautiful special occasion formal attire for young boys and girls. All are elegantly styled and very wearable.”         Her latest clothing label banners designers Pepsi Herrera for Posh Kids, and Edwin Tan for Posh Maternity. Herrera’s line boasts a wide range of limited-edition formal children’s wear and a look that is fun and luxurious at affordable prices. His holiday collection features staples such as long sleeves and pants for boys, pastels and glittery party outfits for girls and christening gowns for infants. Tan’s Posh Maternity collection spells “chic, sophisticated pregnancy.” Known for his sexy elegant designs for ladies and impeccable suits for men, Tan dresses moms-to-be super stylish yet formal dresses for special occasions.  Lifestyle Feature ( Article MRec ), pagematch: 1, sectionmatch: Posh Maternity’s flattering styles come in standard sizes of maternity long dresses and formal Read More …

Sun Life banks on new products for growth

 Economy
Dec 102013
 
Sun Life banks on new products for growth

MANILA, Philippines – Sun Life Asset Management Co. Inc. (SLAMCI) is targeting an expansion in its assets under management (AUMs) by 20 to 30 percent to P40 billion next year, driven by more distribution channels and new products. SLAMCI president and chief executive officer Valerie Pama said the fund manager is looking at a 20 to 30 percent growth next year. SLAMCI is the fund manager of Sun Life Financial-Philippines. “That will be achieved through additional agents, looking for new distribution partners including banks and non-bank channels,” Pama said in a press briefing yesterday. Already in the pipeline is a peso-denominated balanced fund seeking approval from the Securities and Exchange Commission (SEC). It also expanded its partnerships with 10 bank institutions including Citi NA and the Rizal Commercial Banking Corp. (RCBC), and is eyeing new relationships with non-bank financial institutions. SLAMCI will also be expanding its retail market base as it has already lowered its initial minimum placement to P5,000 from the original P10,000, and additional placements as low as P1,000. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We want to expand to a wider base and the regions,” Pama added. Recently, the fund manager launched SLAMCI MF Online, an Internet-based dealing facility, which allows clients and investors to perform mutual fund transaction such as adding, transferring and redeeming shares. As of end-November this year, SLAMCI’s total AUMs rose to a record P32 billion. SLAMCI manages seven mutual funds under the Sun Life Prosperity (SLP) family of funds, Read More …

Jobless rate drops to 6.5%

 Economy
Dec 102013
 
Jobless rate drops to 6.5%

MANILA, Philippines – Joblessness in the country declined in October compared to the same month a year ago with more individuals finding work, the National Statistics Office (NSO) reported. The Labor Force Survey released by the NSO yesterday showed that the unemployment rate was estimated at 6.5 percent in October, down slightly from 6.8 percent in the same month last year. The NSO noted that the number of jobless Filipinos fell to  2.602 million this year from 2.763 million a year ago. “Among the regions, the NCR (National Capital Region) continued to have the highest unemployment rate,” the NSO said. The jobless rate in the region was estimated at 10.2 percent in October compared to the 11 percent in the same month last year. The statistics agency also noted that majority or 64.4 percent of those without jobs were males. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In terms of educational attainment, 21.4 percent of the unemployed were college graduates, 13.9 percent were college undergraduates, and 33.5 percent were high school graduates. Of the estimated 63.109 million population of those aged 15 years and over in October, the NSO said 37.733 million individuals were employed, up from the 37.670 million in the previous year. Of the total employed persons, most or 53.4 percent were in the services sector. Those in the agriculture sector comprised the second largest group, with its 31.4- percent share, while the balance or 15.2 percent was accounted for by the industry sector. The number Read More …

Mid-single digit revenue growth seen for PLDT, Globe

 Economy
Dec 102013
 
Mid-single digit revenue growth seen for PLDT, Globe

MANILA, Philippines – London-based Fitch Ratings sees telecommunications providers in the country led by rivals Philippine Long Distance Telephone Co. (PLDT) and Ayala-led Globe Telecom Inc. – booking mid-single digit revenue growths next year. In a report entitled “2014 Outlook:Southeast Asia Telecommunications,” Fitch said strong demand for data from subscribers would help offset higher expenses for subsidies as well as declining revenues from intense competition. “More data adoption should lead to revenue rising by the mid-single-digits,” Fitch said. The international rating agency pointed out that earnings before interest, taxes, depreciation, and amortization (EBITDA) margins would continue to decline.  “In the Philippines, operating EBITDA margins will continue to deteriorate due to unlimited or bucket tariff offerings, larger handset subsidies and substitution of data for voice or text services,” it added. Likewise, Fitch said lower capital expenditures would ensure free cash flow and stable credit profiles for both PLDT and Globe. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PLDT completed a two-year P67.1 billion network modernization last year, while Globe finished its $700 million network transformation program in the first quarter of the year and is completing a $90 million information technology (IT) transformation project. PLDT booked a two percent increase in net income to P29 billion as consolidated revenues climbed two percent to P121.6 billion from January to September this year. Its consolidated EBITDA grew four percent to P59.6 billion while its consolidated free cash flow remained robust increasing by P3.2 billion to P32.9 billion. The company’s cellular subscriber Read More …

MNTC poised to take over SCTEX

 Economy
Dec 102013
 
MNTC poised to take over SCTEX

MALOLOS CITY, Philippines – – Manila North Tollways Corp. (MNTC) is ready to take over operation of the 93-kilometer Subic Clark Tarlac Expressway (SCTEX). A unit of infrastructure conglomerate Metro Pacific Investment Corp. (MPIC), MNTC is also among the top-bidders that recently pre-qualified for the proposed 40-kilometer Cavite-Laguna Expressway (CALA). Ramoncito Fernandez, president and chief operating officer (CEO) of Metro Pacific Tollways Corp. said President Aquino is happy with their proposal on the takeover of the SCTEX. “We are ready anytime. We are just waiting for the formal announcement of Malacanang,” Fernandez said in an exclusive interview on the sidelines of the NLEX-SCTEX first short film contest on Monday. Part of the MNTC proposal is the 50-50 sharing of revenues and expenses in the operation of the SCTEX, between the MNTC and the government. Fernandez said that even the rehabilitation of the damaged embankment on the Pasig-Portero River will be shouldered by MNTC and the company. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He added that part of their plan for the full operation of the SCTEX is an integrated toll collection system Earlier, MNTC offered a P20-billion concession to the government for the operation of SCTEX which remains under the management of Bases Conversion Development Authority (BCDA). Fernandez said MNTC is also among the four bidders that prequalified for the operation of the 40-kilometer CALA. He said that CALA will stretch from the Kawit section of the Cavite Expressway (Cavitex) passing through Silang town to Sta. Rosa Read More …

Megaworld targets P8-B sales for RFO units this yr

 Economy
Dec 102013
 
Megaworld targets P8-B sales for RFO units this yr

MANILA, Philippines – Megaworld Corp., the flagship property firm of tycoon Andrew L. Tan, expects to hit the P8-billion sales mark for its niche ready-for-occupancy (RFO) residential units, a top company official said. Donna V. Racho, vice-president for sales and marketing of Megaworld’s Prime Properties Investment Group, said they expect to post P8 billion in revenues this year, double the P4 billion it recorded as of July. “We are making more. Double this year,” she said. Since its launching in July 2012, the marketing division contributed roughly P4 billion in revenues to Megaworld. Prime Properties is in charge of the lease, sale and re-sale of RFO units. “There is a huge demand for RFOs. There is an untapped market,” Cacho said, adding that Megaworld created Prime Properties to cater to those that prefer quick turnover of units. Given presently robust figures, Prime Properties is on track to contributing P15 billion in consolidated revenues in the next three years. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 RFO units account for roughly five percent of the total units in all residential condominium projects of Megaworld. Cacho said Prime Properties facilitate ownership of condominium units through low downpayment and flexible payment terms. “For us to maintain [high sales], we always have the personalized after-sales service like the interior design services we have in-house,” she said. For next year, Cacho said the group will launch more creative designs and concepts that will cater to distinct tastes of RFO unit buyers. “Most of Read More …

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