PALO, LEYTE — A Philippine Coconut Authority official has projected a 10% annual decline in the volume of coconut oil exports after super typhoon Yolanda (international name: Haiyan) severely damaged coconut farms in Eastern Visayas, the country’s second top coconut-producing region.
THE FILINVEST-CHANGI Airports consortium has asked the Transportation department to disqualify two of the parties that submitted offers for the multi-billion airport deal of the government due to conflict of interest, a claim that one party declared a false allegation.
Sam Concepcion (MNS Photo) Sam Concepcion is more than grateful that ABS-CBN picked him to be paired with Julia Barretto in the upcoming series “Mira Bella.” Concepcion said it has been a while since he played the lead character and this is a good opportunity for him to hone his skills and become a better actor. “Of course very happy, I’m very glad that I was entrusted with the role. Siyempre, isang challenge din ito para sa akin kasi ngayon na lang ulit ako magli-lead for a show. I’m really spending a lot of time and effort, ng concentration ko sa show to really deliver,” he said. Concepcion said he also likes the idea that he will be up against Enrique Gil in the said show. “Kahit sino namang ilagay doon, mayroon talagang mangyayaring ganyan [na bashing]. There’s always competition involved between fans. Pero it’s always part of the show,’ he said. Asked how he feels that Barretto is his leading lady, the singer-actor said: “Well, Julia is a sweetheart talaga. She’s such a pleasure [to work with]. Ang sarap niya makasama, makatrabaho, madali and magaan. Maganda ang feeling kapag yung ka-partner mo, malaki din ang binibigay.” “Mira Bella” is among the much-awaited Kapamilya shows which is slated to hit the TV screens in 2014. Aside from being blessed in terms of his career, Concepcion said he is also happy that his personal life is running smoothly as well. Concepcion has been vocal about his feelings for Jasmine Curtis-Smith and Read More …
MANILA, Philippines (Xinhua) – Capitalization of Philippine universal and commercial banks (U/KBs) improved at the end of June 2013, the local central bank said today. The Philippine central bank said the combined capital adequacy ratio (CAR) of the country’s U/KBs reached nearly double the minimum amount prescribed by regulators. At the end of June, Philippine banks’ capital adequacy ratio ( CAR) stood at 17.98 percent on solo basis and 19.24 percent on consolidated basis. These ratios are better than the 17.75 percent CAR on a solo basis and 18.89 percent on a consolidated basis for Philippine banks recorded in March 2013. “These high ratios are still driven by the industry’s Tier 1 capital, the highest quality among instruments eligible as bank capital,” the central bank said in a statement. CAR serves as the buffer of Philippine banks for potential losses from risky assets. Higher CAR levels are an indication of the health of the banking sector. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Up until the end of 2013, U/KBs are required to maintain a CAR of at least 10 percent. Starting this month, Philippine banks must maintain higher CAR levels as part of reforms under the Basel III accord.
Philippine Stocks Exchange (MNS photo) MANILA (Mabuhay) – Despite the natural calamities last year, higher spending by the government and private sectors to fund the reconstruction of damaged areas will sustain the growth momentum this year, First Metro Investment Corp., the investment banker of the Metrobank Group said Monday. While the Philippines suffered the devastation wreaked by storms and earthquakes, 2013 was a watershed for the Southeast Asian market economy which gained investment grade rating from the top global debt watchers, Francisco Sebastian, FMIC chairman told reporters in a briefing in Makati City. “The country has shown resilience, we are still the best performing economy in ASEAN with a 7.4 percent GDP growth in the first nine months of 2013, Sebastian said. “Our fundamentals remain intact and will be able to withstand volatilities in 2014, be it domestic or global,” he added. “In 2014, the country’s GDP is projected at 7 to 7.5 percent – buoyed by the same growth drivers that continue to fuel the economy plus the robust reconstruction and rehabilitation work in typhoon- and earthquake-stricken Visayas, which will further spur public and private spending,” Sebastian noted. The economy grew at 7.4 percent on average in the first three quarters of 2013, the fastest among the Association of Southeast Asian Nations. Inflation, remittances, exports Inflation, according to FMIC, will register at a manageable level between 3.8 percent and 4 percent in 2014. So far, inflation was 2.8 percent on average in the first 11 months of 2013 The Read More …
An employee counts U.S. dollar bills before changing it to Philippine Pesos inside a money changer in Manila September 19, 2013. The Philippine central bank said remittances from overseas Filipino workers (OFWs) have allowed households to save money, boosting the country’s savings rate.(MNS Photo) MANILA (Mabuhay) – Remittances from overseas Filipino workers (OFWs) have allowed households to save money, boosting the country’s savings rate, according to the Bangko Sentral ng Pilipinas (BSP). Based on the BSP’s latest Flow of Funds report, domestic savings has expanded by 6.8 percent to P2.001 trillion in 2012, with households accounting for the bulk of that amount. “The economy’s savings momentum is sustained amid solid overall revenue performance of all sectors and the country’s sound macroeconomic fundamentals,” the BSP said. The FOF presents a summary of financial transactions among the different institutions of the economy, and between these institutions and the rest of the world. It identifies which institutions are net borrowers and net lenders for the year. Institutions are categorized into four, namely financial corporations, non-financial corporations, the general government, and households. The household sector remained the top saver in the economy for the fifth consecutive year, accumulating P928.9 billion in savings. “This was partly brought about by the steady stream of overseas Filipinos’ remittances,” the BSP said. The non-financial corporations sector has generated savings of P713.4 billion due to the broad-based growth in savings across sub-sectors. The general government sector, meanwhile, registered the highest growth in savings at 33.5 percent to P252.2 billion Read More …
A new study suggests that eating a Mediterranean diet can not only protect your heart but fend off type 2 diabetes as well.© Goran Bogicevic/shutterstock.com (Relaxnews) – A new study finds that even if you don’t lose weight or boost exercise, following a Mediterranean diet can help prevent the onset of type 2 diabetes. In the Spanish study, people at risk for heart disease who followed a diet of fruits, vegetables, whole grains, fish, and fats from nuts or olive oil were about 30 percent less likely to develop diabetes over a four-year period than those who ate a low-fat diet. The research was a subanalysis of last year’s influential PREDIMED study, involving 7,447 subjects at high risk for cardiovascular disease. Researchers from Universidad de Navarra found that subjects who ate a Mediterranean diet had a 30 percent greater reduction in the risk of heart attack, stroke, or death from cardiovascular disease than those who ate a low-fat diet. The new paper, published this week in the Annals of Internal Medicine, looked at the development of diabetes among 3,541 subjects who didn’t have diabetes at the beginning of the study. Even just adding olive oil to your diet resulted in a health boost, the study suggests. Participants who added fats from extra-virgin olive oil were 40 percent less likely to develop diabetes during the study compared with those who followed a low-fat diet. Recent evidence from Harvard Medical School and Brigham and Women’s Hospital in Boston also found that middle-aged women who Read More …
LAST Saturday, the 12 candidates for Miss Cebu 2014 gathered at the inner roof deck of Harolds Hotel to sign the sponsorship contract to the prestigious beauty pageant sposored by GT Cosmetics Manufacturing. The company’s founder and chief operating officer, engineer Leonora Salvane, said that their “products are proudly Cebuano.” She turned over a check worth P100,000 to Miss Cebu 2014 chairperson Jaja Chiongbian-Rama. A Ms. GT Cosmetics will also be chosen and will receive a one-year supply of its products. Miss Cebu 2014 will be crowned on Jan. 15. *** While Cebu is now on its toes in preparation for the Pista Senyor and the Sinulog grand parade, other Cebuanos who are based in Dubai are also busy preparing for the second edition of the Sinulog sa United Arab Emirates. I met one of the activity’s moving forces, Teresa Binghay, who told me about the event which they expect to be much bigger than last year’s. She narrated that the event moved to tears Cebuanos who have been based there for years but have been unable to visit Cebu for one reason or another. Teresa is optimistic that companies, which their group approached for sponsorship, will be generous enough to support their endeavor. More of this next time. *** The Kim Chiu-Xian Lim tandem proved its box-office strength in the movie Bakit Di Ka Crush ng Crush Mo, one of Star Cinema’s money-makers last year. The tandem is coming back in Bride For Rent, which is predicted to outdo Read More …
ACTORS Bea Alonzo and Paulo Avelino will work together for the first time in the upcoming Kapamilya series “Sana Bukas Pa Ang Kahapon”. The announcement was made Thursday afternoon in a press conference at ABS-CBN compound in Quezon City. Bea and Paulo will be joined by Michelle Vito, Iza Calzado, Tonton Gutierrez, Dina Bonnevie, Albert Martinez, and seasoned actresses Ms. Susan Roces and Ms. Anita Linda. Shooting for the said teleserye will start in February. “Sana Bukas Pa Ang Kahapon” is directed by Rondel Lindayag and Trina Dayrit. (Sunnex) DISCLAIMER: Sun.Star website welcomes friendly debate, but comments posted on this site do not necessary reflect the views of the Sun.Star management and its affiliates. Sun.Star reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted. Forum rules: Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent and respectful. Do not shout or use CAPITAL LETTERS!
MANILA, Philippines – Cigarette manufacturer Mighty Corp. has paid an excise tax of P8 billion for the year 2013, a quantum leap from the modest P300 million it shelled out the previous year. Oscar Barrientos, Mighty Corp. executive vice president said the tax payment for last year should put to rest false accusations that their company has not been paying its correct duties and taxes. “The tax we paid for the year 2013 reflects the jump in our market share and our fair share in the increased taxes on “sin” products during last year,” said Barrientos, a retired regional trial court (RTC) judge. He pointed out that despite charges in the news media and by some members of Congress against the company for non-payment of taxes, no case has been filed in court. In fact, Barrientos pointed out, the BIR and the Bureau of Customs have cleared his company of any tax deficiency until February of this year. The company paid P300 million in 2012, the former judge explained, when its share of the local market of cigarette was a measly three percent. However, their market share shot up since the government put into effect Republic Act 10352, otherwise known as the new sin tax law. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The said law has synchronized a five-year adjustment of taxes on cigarettes for it to become a uniform P30 per pack in five years, covering all brands. BIR records shows that excise taxes from both cigarettes Read More …