September 2014 – Page 6

PLDT sees sustained earnings

Economy

Sep 262014

MANILA, Philippines – The Philippine Long Distance Telephone Co. (PLDT) is on track to meeting its full year profit guidance of P39.5 billion amid the lean season in the third quarter of the year. PLDT president and chief executive officer Napoleon Nazareno said the company was able to sustain the momentum in the first half of the year on the back of the strong performance of several business segments. “Its okay, third quarter is normally a lean quarter seasonally. Our bottom line is on track as we what we have given in terms of guidance in the first half results,” he said. Nazareno said the PLDT Group has set a core income target of P39.5 billion this year and in the neighborhood of P9 billion for the third quarter of the year. This year’s core income target is two percent higher compared to P38.7 billion in 2012. According to him, the drivers of growth for the third quarter would still be the same as the first half of the year including data, broadband, voice, and short messaging system (SMS) or text messages. “The same as the first half including data, broadband, voice revenues and hopefully SMS will be more stable now,” Nazareno said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the first half of the year, PLDT booked a two percent increase in core earnings to P19.83 billion from P19.39 billion in the same period last year as well as two percent rise in revenues to P82.5 Read More …

Meralco in talks with power producers

Economy

Sep 262014

MANILA, Philippines – Manila Electric Co. (Meralco) is negotiating with power producers to contract as much capacity as it can for the summer of 2015, officials said. “We are trying to cover our requirements to the extent that we can,” Meralco president Oscar Reyes said. According to Reyes, the company is eyeing about 300 megawatts to 400 MW in contracted capacity as part of efforts to have enough power in the summer of 2015. “We are talking to everybody with capacity that can be offered and procured and the price is accepted by the consumer and the regulator,” he said. Meralco head of Customer Retail Services Al Panlilio said the power distributor is also assessing the impact of the secondary price cap at the spot market and its effect on power prices. The Energy Regulatory Commission (ERC) has imposed a secondary price cap at the Wholesale Electricity Spot Market (WESM). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The price cap is the highest offer that sellers can give when they sell their electricity to the market. Power suppliers with the lowest price get to supply the requirements of distribution utilities but the last offer is the one that sets the price for which they will be paid. “We’re assessing whether secondary cap will continue. We have to analyze that,” Panlilio said. Without additional capacity, the Luzon grid faces rotating blackouts for a period of seven to eight weeks in the summer of 2015. The rotating blackouts may range Read More …

Saving the best for first

Economy

Sep 262014

Is there something your wife really wants? Is there something she really wishes to have? This is a question I often ask the married male participants whenever I’m invited to speak in marriage conferences. This question really makes them uncomfortable. And sometimes fills them with confusion, as illustrated below by these circulating jokes found in the Internet. “My wife was complaining that I spend too much time on the computer, and not enough time with her. I decided to fix that by having a “movie night” with her. We watched Hackers, The Net, Anti-Trust, You’ve Got Mail and The Matrix. She’s still mad at me. What did I do?” A man walked into a dress shop and told the clerk he wanted to buy a surprise, a formal evening gown for his wife. The clerk asked, “what size?” The man shrugged blankly. Trying to help, the clerk inquired, “Well then, what are your wife’s measurements?” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The man thought for a moment, “small, medium and large and in that order.” You should know what your wife really loves. But suppose that you finally figured out the one thing she really loves and that you finally got it for her to enjoy. What do you think would happen next? I came across this article a long time ago. It appeared in the April ‘85 issue of the Los Angeles Times. A lady named Ann Wells wrote an article about treating everyday as a Read More …

Filinvest to venture into more high-end condos

Economy

Sep 262014

Filinvest to venture into more high-end condos

MANILA, Philippines – The Filinvest Group plans to venture into more high-end condominium projects following a “remarkable” uptake in its first premier project in Makati City. Filinvest Development Corp. president Josephine Gotianun Yap said the company is carefully treading the niche market segment of the “ultra rich” after the positive reception of its P3.5-billion Beaufort premiere project in Bonifacio Global City. “The market for this type of property is now ready. This novel venture answers the need of that type of home buyers who put premium on space and aesthetics as well as the conveniences that can be had living in a condominium,” Yap said. Beaufort has 271 units consisting of the East and West Towers. With a one bedroom unit with parking space starting at P10 million, the selling price is at an average of P160, 000 per square meter. The company said it expects to generate P7 billion in sales from Beaufort. Filinvest executive vice president Catherine A. Ilagan said the East Tower is about 90 percent sold to date while the West Tower is around 70 to 80 percent sold. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Ilagan said the company is confident the project would be fully sold out in the next couple of months. “The Beaufort only has three to four condo units to a floor. This gives them the satisfaction of making the most of their precious time,” Ilagan said. Beaufort is the Filinvest Group’s first premier vertical masterplanned development with more Read More …

Corruption, corruption and more corruption

Entertainment

Sep 262014

Corruption, corruption and more corruption

The Philippine National Police (PNP) has recently been in the “cutting edge” of controversy following the involvement of its personnel, including its head, General Alan Purisima, in illegal activities ranging from kidnappings, gun-for-hire, hold-ups and bribery. General Purisima, reportedly a close friend of President Noynoy, is facing graft, plunder and indirect bribery charges filed this week by the Coalition of Filipino Consumers (CFC) at the Office of the Ombudsman. It was reported by the CFC that Purisima grossly undervalued his 2013 SALN in regard to his Nueva Ecija “mansion” property that he and his wife own. The PNP chief listed the value of the property at P3.7 million. However, CFC claimed that the property is easily worth from P30 to P40 million. On top of this, Purisima is also facing graft charges in connection with the alleged anomalous P100 million contract with a courier service for the delivery of firearms licenses. Philippine National Police (PNP) Director General Alan Purisima during the 34th Association of Southeast Asian Nations Chiefs of Police (ASEANAPOL) Conference at the Luzon Ballroom of the Sofitel Philippine Plaza in Roxas Boulevard, Pasay City on Tuesday (May 13, 2014). (MNS photo) CFC also said that General Purisima committed an act of indirect bribery when he admitted that the money he used for the renovation of his official residence in Camp Crame came from his friends, patrons and brother masons. Corruption in the Philippines is so pervasive that almost, if not all top government officials are all “on the Read More …

Aquino concludes U.S. trip

Entertainment

Sep 262014

Aquino expressed appreciation to Boston College, a 150-year old institution founded by the Jesuits, just across the street from the Aquino family’s old house on 175 Commonwealth Avenue, Chestnut Hill – a quiet and affluent neighborhood 15 kilometers west of downtown Boston. NEW YORK, New York (Mabuhay) – President Benigno S. Aquino III has concluded his five-day working visit to the United States, bringing with him some good news in terms of fresh investments from various companies upon his return to Manila. President Aquino left San Francisco International Airport at about 4:40 pm on Wednesday, Pacific time, via a Philippine Airlines chartered flight. Prior to his departure, the President held two quick business meetings with the top executives of Caesars Entertainment Corporation, International Development, and Wells Fargo Bank. The meetings served as his 93rd and 94th engagements respectively, bridging all the scheduled activities he had for almost two weeks from Europe to the US. President Aquino is expected to arrive in Manila at about 10:00 pm on Thursday with a possible announcement regarding the results of his successful working visits to Spain, Belgium, France, Germany, and the United States. (MNS)

Cayetano: Senate may order arrest of Junjun Binay, others

Entertainment

Sep 262014

Cayetano: Senate may order arrest of Junjun Binay, others

Makati Mayor Jejomar Erwin Binay seen here with a guest at Noypitz Bar & Grill in Glendale, California in 2011 during a fundraising concert organized by members of Filipino-American media for typhoon Sendong victims. Photo: Benny Uy MANILA (Mabuhay) – Don’t force the Senate committee to order your arrest. This was the statement made Thursday by Senator Alan Peter Cayetano as he said that Makati Mayor Jejomar Erwin Binay Jr.’s move questioning the authority of the Senate blue ribbon subcommittee to summon him has no legal basis. “I’m waiting for them and hoping magpaliwanag sila. We’ll give them an opportunity pero kung hindi, mapipilitan sigurong umabot na ang committee ay umorder ng arrest nila,” Cayetano told reporters before the start of the hearing. Binay snubbed the hearing, as did his secretary Beng Baloloy, who also submitted a letter questioning the jurisdictional authority of the committee. Finance officer Gerry Limlingan, on the other hand, was nowhere to be found. “Lahat ng pwedeng i-subpoena at hindi sinunod ang subpoena, ang proseso dun, bibigyan sila ng prosesong ipaliwanag tapos pwede na silang ipaaresto. Kapangyarihan ito ng Kongreso. ‘Pag binalewala ito ng isang tao, baka balewalain na ito ng ibang mga tao,” Cayetano said. Vice President Jejomar Binay was invited to the hearing but he also did not attend, citing a full schedule. Cayetano said they will not order the Vice President’s arrest despite his absence in respect to his position. “Pero walang dahilan na ang city mayor kahit sabihing Binay ang apelyido niya Read More …

PNP chief urged to take a leave

Entertainment

Sep 262014

President Benigno S. Aquino III converses with Philippine National Police (PNP) Director General Alan Purisima during the 34th Association of Southeast Asian Nations Chiefs of Police (ASEANAPOL) Conference at the Luzon Ballroom of the Sofitel Philippine Plaza in Roxas Boulevard, Pasay City on Tuesday (May 13, 2014). (MNS photo) MANILA (Mabuhay) – Senator Grace Poe on Wednesday recommended that Philippine National Police Chief Director General Alan Purisima take an administrative leave while investigations against him are ongoing. Addressing Interior and Local Government Secretary Mar Roxas during the budget deliberations at the Senate, Poe said: “We appeal to you as the head of DILG… to make a strong recommendation to the President… I hope that the very least, without saying that anybody’s guilty, administrative leave [for Purisima] would set a good message,” Poe said during the budget deliberations at the Senate. Poe cited the three senators who were suspended so as not to influence the trial. The detained senators are Bong Revilla, Jinggoy Estrada, and Juan Ponce Enrile. They are facing plunder and graft charges before the Sandiganbayan in connection with the multi-billion pork barrel scam allegedly orchestrated by businesswoman Janet Lim-Napoles. Poe said the PNP as an institution was implicated in the controversies that Purisima is facing. Purisima is currently in hot water as he faces plunder, bribery, and graft charges in connection with a mansion in Nueva Ecija and the renovation of the PNP chief’s official quarters inside Camp Crame. Next week, Purisima is expected to attend a Senate Read More …

Drilon: Let debates on reimposition of death penalty start

Entertainment

Sep 262014

Drilon: Let debates on reimposition of death penalty start

CELEBRATING THE SENATE’S 97th ANNIVERSARY. Senate President Franklin M. Drilon addresses Senate officials and employees during the Senate’s flag raising ceremony Monday, October 21. Drilon took the opportunity to thank everyone for what he calls a “selfless act” in deciding to forego plans to celebrate the annual Christmas Party in favor of donating the funds to the victims of recent calamities that struck Visayas and Mindanao. The Senate, which is also celebrating its 97th Anniversary, has also decided to allocate the budget for the anniversary to the victims of the recent 7.2 magnitude earthquake that hit Bohol and Cebu. (MNS photo) MANILA (Mabuhay) – Senate President Franklin Drilon on Wednesday said debates on the reimposition of death penalty should start to determine if it would really address rising crime incidents. “Sa aking tingin, pwede pa natin yang pagdebatehan. Hinihimok nga ng aking kasama na si Sen. Tito Sotto na i-report at pagdebatehan sa Senado ang pagbabalik sa death penalty,” Drilon said in a radio interview. On Tuesday, Sotto, Senate acting minority leader, renewed calls for the reimposition of the death penalty following the killing of actress Cherry Pie Picache’s mother. Sotto believed the suspect could have been under the influence of drugs. The bill Sotto filed for the purpose of reimposing capital punishment is still pending before the Senate committee on constitutional amendments, revision of codes and laws as well as the justice and human rights committee. The death penalty was abolished in 2006. Drilon said what should be looked Read More …

Swing the Night Away with FASO on Oct. 18

Entertainment

Sep 262014

Swing the Night Away with FASO on Oct. 18

“Swing the Night Away with FASO” on Saturday, October 18, at the Hilton Glendale. Dancers Adam Jona and Elgeen Nepales swing to FASO big band ensemble led by music director and conductor Bob Shroder. Photos by Rick Gavino. Dance or simply listen to big band music, from Glenn Miller, Cole Porter to Duke Ellington, in “Swing the Night Away with FASO” on Saturday, October 18 at the Hilton Glendale. For the first time, the Filipino-American Symphony Orchestra (FASO), the first and only Filipino orchestra outside the Philippines, performs such big band gems as “Moonlight Serenade,” “Take the ‘A’ Train,” “In the Mood,” “How High the Moon” and more in a fun, exciting evening that’s guaranteed to be a memorable one. Bring your dancing shoes to boogie or swing or just sit back, relax and enjoy as FASO, led by music director and conductor Bob Shroder, with special guests Alma Silos, University of the Philippines Concert Chorus Alumni and more interpret such all-time favorites as “Embraceable You,” “Days of Wine and Roses,” “Misty,” “Secret Love” and “Moon River.” An entertaining evening designed to thrill music and dance aficionados of all ages, “Swing the Night Away with FASO” will also offer such pop hits as “Look of Love,” “Oye Como Va,” dance classics from the 1970s and contemporary songs being given the big band treatment. Original Filipino dance music will also be performed. “Swing the Night Away with FASO” is a fresh break from FASO which won acclaim for its previous classical and traditional music Read More …

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