Japan's economy contracts in April-June quarter

 Economy
Aug 162015
 
Japan's economy contracts in April-June quarter

People cross a street in front of an electronic stock indicator of a securities firm, showing Japan’s benchmark Nikkei 225, center, which gained 84.13 points or 0.4 percent and closed at 20,808.69, in Tokyo, Monday, Aug. 10, 2015. Asian stock markets were lackluster Monday as weak data added to jitters about China’s economy and the monthly U.S. jobs report reinforced expectations for a Fed interest rate hike. AP/Ken Aragaki TOKYO — Japan’s economy contracted at a 1.6 percent annual pace in the April-June quarter, as bad weather and slowing demand in China posed further setbacks for the “Abenomics” growth strategy. The gloomy preliminary growth data reported Monday was in line with expectations, and raises the likelihood the central bank may opt for fresh stimulus measures in coming months, Masamichi Adachi of JPMorgan said in a research note. Slower-than-expected consumer demand, exports and corporate investment have stunted growth after the economy expanded at a relatively robust annual pace of 3.9 percent in January-March. The contraction in April-June represented a 0.4 percent decrease from the previous quarter. Prime Minister Shinzo Abe has championed a strategy of massive monetary easing that is pumping trillions of yen (hundreds of billions of dollars) into the economy. But stagnant wage growth and corporate investment have so far slowed progress toward a strong, sustained cycle of growth.

Condos near rail stations more costly, says Lamudi

 General
Aug 162015
 
Condos near rail stations more costly, says Lamudi

MANILA, Philippines – The nearer, the more expensive when it comes to buyers looking to live in an area that is within striking distance of a train station, global online property platform Lamudi Philippines said. Looking at the prices of condominiums along EDSA, Lamudi said an average condo located within 100 meters of an MRT station is at least P16,645 more expensive per square meter than a similar condo situated more than 500 meters away. “The price gap becomes even wider depending on the condo and its developer,” Lamudi said. Within the Boni station in Mandaluyong, the online property platform said there were two condominium developments that are directly connected to the MRT station. Buyers of these properties would need to pay P31,572 and P16,645 more per square meter compared to another development in the same area but located more than 500 meters away from the train station. Over at the Magallanes station in Makati, meanwhile, one condo directly connected to the MRT station, averages P125,129 per square meter, P16,195 more than a similar condo located about one kilometer away along Chino Roces Avenue. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Real estate developers have started to integrate many of their projects into transport infrastructure to attract more buyers. Dubbed transit-oriented developments (TOD), these condos located within 400-meter radius of train stations in Metro Manila are attracting buyers in search of convenient locations for their daily commute,” Lamudi said.

Robinsons spending P6B to ramp up retail expansion

 Economy
Aug 162015
 
Robinsons spending P6B to ramp up retail expansion

MANILA, Philippines – Robinsons Retail Holdings Inc., the retail arm of the Gokongwei family, plans to spend another P6 billion next year to ramp up expansion of its network across all store formats and fully utilize the increasing spending power of Filipino consumers. In an interview, Robinsons Retail president Robina Gokongwei-Pe told The STAR the company is earmarking for 2016 the same amount it did this year to put up between 250 to 300 stores. Next year’s store expansion is likely the biggest in the company’s history as it is expected to top 2014’s record of 263 new stores opened in a single year. Robinsons Retail offers a diverse array of retail offering which includes supermarkets, department stores, convenience stores, drug stores, and specialty stores. For next year’s expansion, bulk will be composed of convenience store chain Ministop. Gokongwei-Pe said the company remains undeterred despite the growing number of competition in the country’s convenience store segment as it eyes 100 new stores next year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Ministop at present has nearly 500 operational stores in the Philippines. “It has become quite competitive so we’re focusing on our strength which is ready-to-eat. There’s still room to grow for our convenience store business,” Gokongwei-Pe said. Gokongwei-Pe said there are still a plenty of areas in the country where Ministop is not yet present but she noted the company intends to grow over the near term on its existing markets. “We have presence in Cebu, Iloilo, Read More …

The rediscovery of Lenny Kravitz

 General
Aug 162015
 
The rediscovery of Lenny Kravitz

An incident while performing on stage in Stockholm, Sweden last Aug. 4, has turned Lenny into a social media star People are talking about Lenny Kravitz these days. An incident while performing on stage in Stockholm, Sweden last Aug. 4, has turned him into a social media star. He is now known as the first male celeb in a wardrobe malfunction to make headlines. What happened was that Kravitz knelt down while singing and ripped his really tight leather pants on the crotch. And horrors! He was not wearing undies. Of course, there were photos and videos taken of the event. Unruffled, Kravitz exited and changed into another pair of tight leather pants. He next apologized to the audience and resumed his show. Was it embarassing? Perhaps. But the great thing about those torn pants is that they got people talking about Kravitz and thinking about him and listening to his music and hopefully discovering all the great stuff that he has done. Kravitz grew up privileged in Manhattan’s Upper East Side and the suburbs of Los Angeles where he attended Beverly Hills High School. His father was a news producer who was also a jazz promoter. This exposed Lenny to big names in the music business and accounts for his unique style that blends rock with soul, funk, jazz, blues, reggae and other music types. He attained success in the ’80s and ’90s eras as an extraordinary singer, songwriter, producer and multi-instrumentalist. He has since then sold over 40 Read More …

‘Rak pa more! Aegis pa more!’

 Entertainment
Aug 162015
 
‘Rak pa more! Aegis pa more!’

Aileen ko: Tolits (Jerald Napoles) and Aileen (Aicelle Santos) in their water wonderland in flooded Barangay Venezia Photos by Raffy Yllana I’ll go out on a limb and admit that I am no Aegis fan. Let’s just say I’ve heard their songs one too many times in the jeepneys I ride, in the KTV’s I frequent, and in singing contests which are pretty much part of our national consciousness. More often than not, when an ambitious bloke — I like to call them “contenders” in some imaginary contest — keys in the numbers for an Aegis song on the karaoke machine, I would immediately roll my eyes, sigh, and tell myself that the party’s over and it’s time to go home. And once the contender sings, I would feel validated as they turn Aegis’ trademark birit notes into weak falsettos, soulful pitch changes into screams, and vibratos into opportune moments to pull the mic away from their mouths and laugh. Laugh at what exactly? I do not know. Don’t get me wrong, I have no real issues with the seven-piece band hailing from Misamis Oriental. But when people start singing their songs in hopes to embarrass themselves, I sense mankind’s degrade invading my ears like yellowed, overused Q-tips. Watching Rak of Aegis, however, was an entirely different “karaoke” experience. In no way would it remind anyone of that all-too-common KTV tragedy. It was glorious, worthy of the word “Aegis’” origins in Greek mythology. You just knew that, dazzled by the Read More …

PDEA gets P2.7M equipment, vehicles from int’l anti-drug group

 News
Aug 162015
 
PDEA gets P2.7M equipment, vehicles from int’l anti-drug group

Philippine Daily Inquirer By: Julie M. Aurelio, August 16th, 2015 06:42 PM The Philippine Drug Enforcement Agency has received P2.7 million in resources from the Asia-Pacific Information and Coordination Center for Combating Drug Crimes to boost its anti-narcotics drive. APICC secretary general Park Jae-Uck recently visited the country to strengthen the fight against illegal drugs in the region as part of the advocacy of South Korea’s Supreme Prosecutors’ Office. The advocacy project included a donation of equipment and vehicles worth P2.7 million to boost PDEA’s operational capability in various regional offices in Luzon. “We greatly appreciate the generosity of APICC to our regional offices in Luzon. We strongly believe that part of the vision of building a drug-free region would entail strong international cooperation with our neighbors in the Asia-Pacific,” said PDEA director general Arturo Cacdac Jr. The donated equipment include surveillance kits, laptops, split-type air conditioners, cameras, external hard drives, digital voice recorders, computers and motorcycles. The donations will be fielded for use in PDEA’s regional offices in Ilocos Region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa and the Cordillera Region. The APICC, with the help of the PDEA Academy, also conducted a two-day workshop for PDEA’s regional directors, drug enforcement officers and chemists in Luzon. The APICC counts Brunei, Cambodia, Indonesia, Lao PDR, Singapore, Republic of Korea, Thailand, Vietnam and the Philippines as among its member countries. It is a regional drug control center for international cooperation, which shares information on drug trends, the successful investigation of cases and Read More …

South China Sea Watch: China rejects island building freeze

 News
Aug 162015
 
South China Sea Watch: China rejects island building freeze

Associated Press August 16th, 2015 06:22 PM DISPUTED REEF Photo from the air shows construction activities undertaken by China on Kagitingan Reef (Fiery Cross Reef), including an airstrip, in a disputed area in the South China Sea. The Philippines and China are among several countries disputing ownership of the reefs located on the Spratly Islands. PHOTO BY VICTOR ROBERT LEE AND DIGITALGLOBE The dispute over the strategic waterways of the South China Sea has intensified, pitting a rising China against its smaller and militarily weaker neighbors who all lay claim to a string of isles, coral reefs and lagoons mostly in the Spratly and the Paracel islands. Only about 45 of them are occupied. The area is one of the world’s busiest shipping routes, rich in fish and potential gas and oil reserves, but it has now emerged as a possible flashpoint involving world powers and regional claimants. A look at some of the most recent key developments: Divisions among Asean members water down anti-China statement At a meeting of foreign ministers from the 10-member Association of Southeast Asian Nations, divisions over how to deal with China again split the regional bloc. The Philippines and Vietnam demanded a more robust statement condemning China’s island-building in disputed waters close to their shores, while Beijing’s allies Cambodia and Laos worked to dilute the tone of the final wording, according to diplomats present. The ministers said in their joint statement that they “took note of the serious concerns expressed by some ministers” on Read More …

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