THE PHILIPPINE government may be open to tapping the domestic debt market for a liability management exercise this year although plans have yet to be firmed up, National Treasurer Roberto B. Tan yesterday said.
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Feb 112015
THE NATIONAL Grid Corporation of the Philippines (NGCP) has secured regulatory approval to invest P2.31 billion for a transmission project that will connect a new 600-megawatt (MW) coal-fired power plant in Davao del Sur.
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THE BUREAU of Internal Revenue (BIR) has a gargantuan task of achieving its collection target for this year of P1.72 trillion (a significant increase from last year’s target of P1.456 trillion, which was not met). To achieve this goal, the BIR has identified 27 priority programs as explained in a recent circular (RMC 3-2015). Against this backdrop, taxpayers should expect more frequent and aggressive tax audits.
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MANILA, Philippines – This February, Marriott Hotel Manila offers a Valentine experience like no other. Inspired from the best-selling book series, “Fifty Shades” each of the hotel’s restaurants will feature famous elements from the worldwide phenomenon. Hold nothing back and be seduced by luscious treats you would never, ever want to miss. Experience a palm-twitching romance at Marriott Café. Excite your senses as you enter the “Red Room” filled with sinful and sensual desserts. Have a bite of steamy culinary selections that are mentioned in the trilogy such as oyster, strawberry, cheese, smoked salmon, vanilla ice cream and more surprises. Get into the romantic mood from February 13-15, 2015, dinner buffet is at P2,650 and Sunday brunch for P 2,600. To recreate one of the sweetest moments from the novel, Marriott Cafe gives diners a chance to own the highly coveted Pandora charm bracelet, just like Mr. Grey’s surprise birthday gift to Ms. Steele. Temptation never tasted so good at Cru Steakhouse. For starters, Executive Chef Meik Brammer recreated an iconic dish from one of the couple’s dates – the Charity Ball. Ignite your taste buds with the Salmon Tartare with Crème Fraiche and Cucumber on Toasted Brioche. As for the much awaited ending, submit to your inner sweet cravings with, “The “Dom” a special course that embodies the character of Mr. Grey, tough on the outside but delicate on the inside. This chocolate dome, melts under a lovely chocolate sauce revealing a mouthwatering dessert composing of hazelnut cake, truffle gianduja and chocolate Read More …
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MANILA, Philippines – Finance Secretary Cesar V. Purisima has been recognized for the fifth time as Finance Minister of the Year by Hong Kong-based financial publishing firm FinanceAsia for his successful stewardship of the Philippine economy. FinanceAsia ranks the performance of the ministers of finance in Asia-Pacific’s 12 largest economies according to how they have helped their respective countries to deal with challenges and uncertainty amid the lingering crisis in global financial markets. Purisima was commended for steering the country toward more stable financial ground, resulting in the Philippines scoring investment grade status from major global credit-rating agencies. During his term, the Philippines logged 12 straight quarters of unprecedented growth above five percent, bringing the average quarterly GDP growth rate under the Aquino administration at 6.02 percent. “The award truly belongs to President Aquino and my colleagues in the Philippine Cabinet because the economic growth and fiscal reforms are truly a team effort, proving that ‘good governance is good economics.’ We have proven yet again that the Philippine miracle is not a one-hit wonder. We’re here to stay, and we are ready to play big in the world stage,” Purisima said. “In four years, the Philippines has achieved what we set out to do: we grew at a six percent average and cut the deficit to an all-time low. Stocks are up 125 percent since we took office and foreign direct investments rose 64 percent from January to October 2014 alone,” Purisima said. Business ( Article MRec ), pagematch: 1, Read More …
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Go Negosyo executive director Mon Lopez presents the books and DVDs to DTI Sec. Greg Domingo, Sen. Bam Aquino, re- gional director Wilhelm Malones and Iloilo MSMED chair Valerie Maravilla, to symbolically show the support being giv- en by Go Negosyo to the Negosyo centers, in terms of help- ing develop entrepreneurial mindset and competencies via seminars, trainings, mentorship network, product and market development. The other week, Unilever’s country chairman and CEO Rohit Jawa and I, together with my brother John, who is the managing director of our Selecta ice cream JV with Unilever, met Energy Secretary Jericho Petilla and his team to discuss the power situation. Selecta is the market leader in ice cream with close to 80- percent share, with several thousands of freezers deployed in many sari-sari stores that are adding more income to small entrepreneurs. It is in the peak summer months that they benefit the most from selling ice cream. We wanted to get an assessment on how bad the power situation really is and whether or not we would be having brownouts that could affect the businesses of many micro entrepreneurs as well as the operations of all those in business. Sec. Petilla had a very comprehensive and objective assessment of the situation. We believe he is on top of the situation and he is one of the best Energy secretaries that we ever had. In summary, he mentioned that while there is ample supply of power even during the summer months, there is still a Read More …
Feb 112015
Many are wondering why the government seems to be in a mad rush to hold bilateral aviation talks with Singapore Airlines this week considering that barely a year ago, airlines were given the right to increase flights to about two million seats per week on the Singapore-Manila route, with Singapore’s airlines accorded “open skies” privileges to all other airports in the country. To think neither Singaporean nor Filipino airlines have maximized the use of the two million seats, so why the unseemly haste to hold talks with the city-state that is our competitor in the multi-billion-dollar business of travel and tourism marketing, with both countries vying for the attention of tourists from China, Japan, Korea, Europe and other countries? Admittedly, Singapore already enjoys great advantages that include a squeaky clean rep while the Philippines is only just beginning to play in the big leagues again as far as travel and tourism are concerned. On top of the “More Fun in the Philippines” campaign and our efforts to improve safety and security, we are building the Entertainment City complex of casinos, with the City of Dreams being the latest example. Our airlines are also investing in new routes and new aircraft even as government struggles to beef up airports and air navigation systems in a bid to make the Philippines a strong regional player in travel and tourism. Unfortunately, the Department of Tourism seems to be the driving force behind the mad rush for air talks with Singapore, perhaps not fully Read More …
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I am currently out of the country for a short trip. This column will resume on Feb. 19 to tackle issues and concerns that affect the country. Facebook and Twitter We are actively using two social networking websites to reach out more often and even interact with and engage our readers, friends and colleagues in the various areas of interest that I tackle in my column. Please like us at www.facebook.com and follow us at www.twitter.com/ReyGamboa. Should you wish to share any insights, write me at Link Edge, 25th Floor, 139 Corporate Center, Valero Street, Salcedo Village, 1227 Makati City. Or e-mail me at reydgamboa@yahoo.com. For a compilation of previous articles, visit www.BizlinksPhilippines.net.
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MANILA, Philippines – Sales of the country’s group of local vehicle assemblers grew by nearly a fifth in January from a year ago supported by the positive performance of both the passenger car (PC) and commercial vehicle (CV) segments. According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), its combined sales with the Truck Manufacturers Association Inc. (TMA) reached 18,662 units last month, the highest January sales performance ever achieved and up by 19.3 percent from the 15,647 units sold in the same month in 2014. “January has been traditionally a slow month following a hectic selling period in December, but this year’s January sales results is yet another milestone achieved by the automotive industry,” CAMPI president Rommel Gutierrez said. Driving the growth in sales last month was the PC segment which posted a 35.8-percent uptick in sales to reach 7,200 units this year from the previous year’s sales of 5,301 units. The CV segment also contributed to the higher sales in January, having sold 11,462 units this year, which climbed 10.8 percent from 10,346 units a year ago. By company performance, Japanese carmaker Toyota Motor Philippines Corp. improved its leadership as it captured 46.7 percent of total sales. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Another Japanese firm, Mitsubishi Motors Philippines Corp., placed second with its 17.4- percent market share, followed by Ford Motor Co. Philippines Inc. with its 8.8-percent share. Settling for the fourth and fifth spots were Isuzu Philippines Corp. and Honda Read More …
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An off-the-radar company provides the ultimate best man services for a bro-less groom in the comedy MANILA, Philippines – Are you bro-less? Buddy-deficient? About to settle down with a girl without ever having lived it up first with the boys? You might just need The Wedding Ringer. Top comedians Kevin Hart (The Grudge Match), Josh Gad (voice of Olaf in Frozen) and Kaley Cuoco-Sweeting (TV’s The Big Bang Theory) star in the new buddy comedy from director Jeremy Garelick (The Break-Up). For any man getting married, there’s a lot to take care of before the big day. But no matter how stressful it gets, he can be certain of one thing: The guys that make up his wedding party — from best man to groomsmen — will help him out, from the bachelor party to the reception toast. They’re his crew, after all: The guys who have always been there for him, through good times and bad (and good times that memorably go bad, right?). They’re the guys who matter. The guys that lovable, socially awkward groom-to-be Doug Harris (Josh Gad) never had, and doesn’t have. And if he doesn’t want to look like a fool to his bride, they’re the guys he desperately needs. The Wedding Ringer is now showing in cinemas nationwide.