Century Properties expects P2.5-B sales from new tower

 Economy
Feb 102015
 
Century Properties expects P2.5-B sales from new tower

MANILA, Philippines – Riding high on an office sector boom in the country, upscale real estate developer Century Properties Group Inc. has launched its latest commercial property offering in Makati expected to generate P2.5 billion in sales. Century Properties said its new office spaces at the Century Spire tower in Century City is part of its plan to expand its commercial assets given the country’s strong economy that fuels demand for office space, especially for the business process outsourcing (BPO) and IT sectors. “We are aggressively pursuing our business expansion plans this year, which includes strengthening our commercial portfolio on top of our current concept residential projects. Diversifying to other product offerings, such as for sale strata office space, is instrumental in sustaining the growth for the company,” said Century Properties chief operating officer Marco Antonio. The listed property firm owned by former ambassador Jose E.B. Antonio said Century Spire would be adding a minimum of 23,000 square meters of office space to the market upon its completion. Century Properties said the units would be sold to end users seeking a prime location for their business, as well as to those seeking to lease out their purchased units.  Century Spire’s single unit office spaces ranges from 50 to 90 square meters and are priced from P185,000 to P205,000 per square meter. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Current rental rates for prime office in Makati, meanwhile, ranges from about P900 to P1,300 per square meter per month, Read More …

CNN Phls to air this mo

 Economy
Feb 102015
 
CNN Phls to air this mo

MANILA, Philippines – 9TV of Radio Philippines Network channel 9 (RPN9) would be rebranded as CNN Philippines this month exactly four months after a new group led by Ambassador Antonio Cabangon-Chua took over the company and partnered with Time Warner Inc. Nine Media Corp. president Benjamin Ramos said the company’s 9TV would be rebranded as CNN Philippines within the month. “Yes the rebranding will take effect this month,” Ramos replied via text when asked if the rebranding would push through as scheduled this month. Last Aug. 23, Solar News Channel was renamed 9TV and Solar News organization became 9News marking the beginning of the channel’s thrust to reach wider audience and strengthen the presence on free TV RPN9. This after the group of Cabangon-Chua acquired the stake of businessman Wilson Tieng in Solar TV Network Inc. (STVN). STVN’s Solar Entertainment Corp. used to own 34 percent of RPN9 while the Benedicto family through Far Eastern Manages and Investors kept its 32 percent of RPN9 while the government has a 20- percent interest in the broadcast firm. Under the agreement between Cabangon Chua and Tieng’s Solar Group, STVN would have to forego the Solar name and change its corporate name before the end of last year. STVN would also stop using the Solar brand as well as logo. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Cabangon-Chua’s media empire includes Business Mirror and tabloid Pilipino Mirror as well as DwIZ 882 AM and 97.9 Natural FM through Aliw Broadcasting Corp. Read More …

Cojuangco is new Petron chairman

 Economy
Feb 102015
 
Cojuangco is new Petron chairman

MANILA, Philippines – San Miguel Corp (SMC) chairman Eduardo M. Cojuangco Jr. has assumed the chairmanship of the conglomerate’s oil refining subsidiary following the resignation of Ramon S. Ang. In a disclosure to the Philippine Stock Exchange, Petron said its board of directors elected yesterday Cojuangco as the new chairman. “This is to advise that, at the meeting of the board of directors of Petron Corp. held earlier (yesterday), the following were elected as officers of the company: Eduardo M. Cojuangco Jr. as chairman of both the board of directors and the compensation committee of the company following the resignations of Ramon S. Ang from such positions, and Atty. Virgilio S. Jacinto as a member of the compensation committee,” Petron said. Ang in turn, has been elected as president following the resignation of Lubin Nepomuceno. Ang will serve as president for the remaining portion of Nepomuceno’s term while Nepomuceno will serve as general manager of the company. Petron did not cite any reasons for the resignation of Ang and Nepomuceno as chairman and president, respectively. Petron reported a consolidated net income of P3.2 billion in the first nine months of 2014, down 26 percent from the previous year’s P4.4 billion, due to the sustained fall in crude prices. Consolidated revenues, however, remained strong. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The benchmark Dubai crude fell to an average $97 per barrel in September from an average $108 per barrel in June, resulting in nine rounds of price rollbacks Read More …

IFC energy expert bats for flexible LNG use

 Economy
Feb 102015
 
IFC energy expert bats for flexible LNG use

MANILA, Philippines – The chief energy specialist of the International Finance Corp. (IFC), the private sector investiment arm of the World Bank, said the introduction of flexible liquefied natural gas (LNG) in the Philippines would help reduce cost of power. “The physical characteristics and fuel supply constraints of the Philippines power system make necessary the introduction of flexible LNG to reduce price variability at the shoulder and peak,” said Tonci Bakovic in a paper disseminated to the media during an energy regulatory conference organized by the Norwegian Embassy. He said LNG supply that allows for the flexibility of spot purchases of LNG to avoid gas take or pay is a must.  “If gas with a large take or pay is re-introduced, we are back to square one and the sector will keep on having the physical must run problems that have nothing to do with the EPIRA (Electric Power Industry Reform Act),” Bakovic said. Furthermore, he said, authorities must “consider capacity payments to help with the financing of LNG import terminals. This, he said, is being done in other countries such as Colombia and Chile.  “The securitization of capacity payments from the electricity sector, in both Colombia and Chile, has facilitated the construction of importing LNG terminals in both countries,” the IFC official said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 For EPIRA, the landmark power reform law, Bakovic said there is no need to change this but noted that refinements can be made.  “Don’t change the EPIRA. Read More …

Nikki Gil calls fiancé an answered prayer

 General
Feb 102015
 
Nikki Gil calls fiancé an answered prayer

ACTRESS-singer Nikki Gil said she is looking to forward to spending the rest of her life with businessman BJ Albert, whom she considered an answered prayer. “I feel like God blessed me with someone who wants to make me become a better person. And I couldn’t be happier. I’m excited. Siyempre, it’s exciting. It’s something that I’ve always prayed for. I’m happy that I’m entering a new chapter in my life,” Nikki said at the anniversary press conference of concert program “ASAP.” She’s also overwhelmed by the congratulatory messages she received from fans and colleagues from the entertainment industry. “Masaya ako na masaya sila for me. Of course, you still can’t expect everyone to be happy for you, but I’m very thankful that all of our friends and our families are excited. It’s a beautiful thing that’s happening,” Nikki said. Now that BJ’s name was mentioned numerous times on television and news reports, Nikki still does not want to introduce him to the public. She said that her fiancé is a private individual and they want to keep things away from the prying eyes of the public. “May picture naman sa Instagram. Carry na yun. Actually, hindi ko nga siya (engagement) balak makalabas because I wanted sana na to be kind of (private) about it,” Nikki said. “I feel like less talk, less mistakes. I just want to keep that part of my life siguro as much as I want to share it kasi private person din yung aking husband-to-be.” Read More …

Etihad flew record number of passengers, cargo in 2014

 General
Feb 102015
 
Etihad flew record number of passengers, cargo in 2014

An Etihad Airways official stands inside a mock-up first class cabin, at a training facility in Abu Dhabi, United Arab Emirates, Sunday, May 4, 2014. AP FILE PHOTO MANILA, Philippines — Etihad Airways, the national airline of the United Arab Emirates, carried a record number of passengers and cargo in 2014, marking its strongest operational performance to date. Almost 14.8 million passengers flew with Etihad Airways last year, a significant increase of 23 percent over 2013 levels. The growth in passenger demand continued to outstrip the airline’s capacity increase, highlighting the strength of its long-term growth strategy. In total, Etihad Airways carried more than 74 percent of the 19.9 million passengers who travelled through Abu Dhabi International Airport in 2014. With the addition of the airline’s equity partners that operate flights into the UAE capital, the combined total rises to a significant 82 percent of passenger traffic at Abu Dhabi International Airport. James Hogan, President and Chief Executive Officer of Etihad Airways, said: “Our business model, which focuses on organic network growth, codeshare partnerships and minority equity investments in other airlines, continued to yield positive results in 2014 and surpassed our double-digit targets for passenger and cargo growth.” Etihad Airways introduced 10 additional destinations to its global route network in 2014, with new services launched to Medina, Jaipur, Los Angeles and Zurich in the first half of the year, and Perth, Rome, Yerevan, Phuket, San Francisco and Dallas in the second half of the year. In addition, frequencies were increased Read More …

Erwiana: From domestic helper to human rights activist

 News
Feb 102015
 
Erwiana: From domestic helper to human rights activist

Indonesian former maid Erwiana Sulistyaningsih attends a press conference in Hong Kong on February 10, 2015 after her employer was convicted of beating her in a “torture” case that sparked international outrage and spotlighted the plight of migrant domestic workers in the Middle East and Asia. AFP HONG KONG — From a “simple village girl” too petrified to report the torture she was facing, Erwiana Sulistyaningsih has become a confident advocate of workers’ rights in a city where maids often live in slave-like conditions. Shocking pictures emerged of a severely beaten Sulistyaningsih looking frail and skinny and in a critical condition at an Indonesian hospital in January last year, and focused the spotlight on the rights of domestic helpers in Hong Kong. The photos and her account of the abuse she received shocked the Asian financial hub and sparked anger amongst the migrant worker community, renewing concerns over the abuse of domestic helpers. Sulistyaningsih, who according to the judge’s verdict “described herself as a simple village girl, coming from a village where her parents are farmers”, was sent back to Indonesia by her former employer, Law Wan-tung, when she became too weak to walk. She told the court that Law covered her in makeup to hide her injuries for the trip to the airport and strapped a nappy on her as she could not use the toilet. A little over a year later, a healthier looking Sulistyaningsih was back in Hong Kong and won a landmark case against Law, who Read More …

Pitito, Peru's oldest clown, keeps joking at 91

 Entertainment
Feb 102015
 
Pitito, Peru's oldest clown, keeps joking at 91

In this Feb. 7, 2015 photo, veteran clown Ricardo Farfan, popularly known as “Pitito,” poses for a portrait after performing at his 91st birthday party in his home in Lima, Peru. Farfan began painting his face to perform as a clown when he was three-years-old, alongside his father who owned the traveling Farfan Brothers Circus. “Chiminea” was his father’s clown name. (AP Photo/Esteban Felix) LIMA, Peru — Ricardo Farfan doesn’t get the jobs he used to. Sometimes his only audience is his wife. But every morning the 91-year-old clown still sips his coffee and studies an old notebook where he keeps hundreds of pages of jokes and comedy moves he has built up over almost nine decades in the circus. “I look at a page and repeat all the jokes by memory,” Farfan, known as Pitito the clown, said in his small home in a poor Lima neighborhood. In a closet he keeps his wigs, brightly colored socks and jackets, and enormous shoes. At age 3, Farfan began to paint his face together with his father, Chimenea the clown, who owned a 600-chair circus that traveled up and down Peru’s Pacific coast, over the country’s towering Andes mountains and across its vast Amazon jungle. “In my father’s circus I was a clown, magician, tightrope walker, trapeze artist, stilt-walker, electrician and painter,” he said. He sometimes worked in foreign circuses that visited Peru for its national holidays in July. The extra money helped Farfan mend and paint the big top for Read More …

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