Feb 152016
 
Imee welcomes Poe in Marcos country

Sen. Bongbong Marcos with sisters Irene and Imee and their mother, former First Lady Imelda Marcos in a recent gathering. Photo posted on Facebook bearing Sen. Marco’s name BATAC CITY, Ilocos Norte (Mabuhay) — Sans her running mate Sen. Francis Escudero, presidential aspirant Sen. Grace Poe on Thursday started her campaign sortie in the Ilocos Region, a known bailwick the Marcoses. An earlier advisory from the Poe-Escudero camp said the vice presidential aspirant will be in Sultan Kudarat. Their camp earlier said there will be times when the two candidates will be splitting up on the campaign trail so they could reach more provinces before the May 9 elections. Poe was welcomed by Gov. Imee Marcos, elder sister of vice presidential aspirant Sen. Ferdinand “Bongbong” Marcos Jr. of the Nacionalista Party. Wearing a white top, which is Poe’s signature campaign color, Imee greeted Poe outside the city hall where the presidential aspirant is scheduled to meet with local officials. But Imee clarified that she still supports her brother’s running mate, Sen. Miriam Defensor Santiago. The provincial governor said she is welcoming Poe because they consider her a family friend. Poe’s father, the late Fernando Poe Jr., shot one of his famous films, Ang Panday, in Paoay, Ilocos Norte. The late actor was a known supporter of the Marcos patriarch, the late Ferdinand Marcos Sr. Imee said that while Poe’s citizenship is being questioned, there is no doubt in her mind that Poe is an Ilocana. She also joked about the Read More …

Feb 152016
 
Foreign direct investments up 16.4% in November

Bangko Sentral ng Pilipinas MANILA (Mabuhay) — Foreign direct investments (FDI) registered net inflows of $464 million in November 2015, up 16.4 percent from a year earlier. “The robust FDI net inflows during the month were underpinned by sustained investor confidence on the economy on the back of the country’s sound macroeconomic fundamentals,” the Bangko Sentral ng Pilipinas said on Thursday. Intercompany borrowings contributed largely to the FDI net inflows. These were net placements by parent companies overseas in debt instruments issued by their Philippine-based affiliates. The central bank noted intercompany borrowings expanded by 26.6 percent to $187 million from $148 million. Net placements in equity capital rose by 11.2 percent to $224 million from $201 million. This development reflected equity capital withdrawals of $10 million compared with the total placements of $234 million. The bulk of equity capital placements came from the Netherlands, Republic of Korea, Hong Kong, Singapore, and United States. “By economic activity, equity capital investments were channeled mainly to manufacturing, financial and insurance, real estate, wholesale and retail trade, and information and communication activities,” the central bank said. Reinvested earnings increased by 7.5 percent to $53 million. In the 11 months to November 2015, FDI registered net inflows $5.5 billion or 3.4 percent lower than the $5.6 billion recorded in the same period a year earlier. “This was mainly on account of the 9.9 percent decline in net placements in debt instruments to $3 billion compared with $3.3 billion a year earlier, the central bank said. Read More …

Feb 152016
 
Dengue vaccine rolls out nationwide in PHL

Health Secretary Janette Garin (right) talks to the media along with toxicologists from government hospitals, Dr. Visitacion Antonio (center) and Dr. Benjamin Yson, on Monday. The officials assured the public on the safety of milk teas and that the poisoning incident is an isolated case. (MNS photo) MANILA (Mabuhay) — The world’s first tetravalent dengue vaccine, Dengvaxia, is set to roll out nationwide in hospitals across the Philippines. “The Philippines has been at the forefront of the development (of this vaccine),” said Dr. Rose Capeding, head of the Department of Microbiology at the Research Institute for Tropical Medicine (RITM) at a press briefing on Thursday. Dr. Rose de los Reyes, president of the Philippine Society of Microbiology and Infectious Diseases, said that the vaccine for four types of dengue is already available in some private hospitals and government storehouses. Developed by French pharmaceutical company Sanofi Pasteur, the vaccine’s price will be “reasonable,” acording to Dr. Sally Gatchalian, Pediatric Infectious Disease Society of the Philippines (PIDSP) President. However, Dr. Gatchalian declined to provide concrete pricing information. Dr. Capeding said the vaccine took 20 years to develop, with clinical tests taking place in multiple countries around Asia and Latin America. Testing began in the Philippines in 2005 and took place at San Pablo City and Cebu City. Capeding said testing took place in Latin America and Asia because of high incidence rates in these dengue-endemic areas. From the 40,000 persons tested in 15 countries for the endemic or CYD14 stage (phase 3), Read More …

Feb 152016
 
Gerald Anderson captivated by Arci’s beauty

Gerald Anderson (MNS photo) MANILA (Mabuhay) — Is it love at first sight for Gerald Anderson? Anderson admitted that he was captivated by Arci Munoz the very first time he saw her. The two are working together on Star Cinema’s post-Valentine offering, “Always Be My Maybe.” “Standout beauty talaga,” he said. “‘Yung ganda niya ay ‘yung parang maiilang ka o mahihiya ka.” But as they spent more time together on the set of their movie, Anderson revealed that Munoz is actually “kalog and down to earth.” “Magaan katrabaho,” he said of the actress, who is currently starring in the ABS-CBN series “Pasion de Amor.” In a separate interview, Anderson said that he can’t believe this is only Munoz’s first lead role in a film. “Kapag nagre-rehearse kami, parang ginagawa na namin ‘yung eksena… Siya, talagang ginagawa niya kung paano niya gagawin sa eksena. Ako, first time ko na-encounter yung ganon, kasi nga doon siya nagsimula sa teatro,” he said. Meanwhile, Munoz also told Star Cinema that she finds Anderson easy to work with. “Sobrang galing ni Ge. Sobrang professional at sobrang masayang katrabaho.” she said. “Tahimik lang si Ge, pero kapag nasa eksena na doon niya ibinubuhos ang lahat.” Directed by Dan Villegas, “Always Be My Maybe” also features Jane Oineza, Kakai Bautista, Ahron Villena, Matt Evans, Carlo Aquino and Pepe Herrera. (MNS)

Feb 152016
 
Philippine Consumers Never Had It So Good

Corazon P. Guidote I grew up like the majority of Filipinos who mostly just stared at apples, oranges and grapes at select stores that sold them. These fruits became rare and expensive because of the long drawn import restrictions the country faced in the eighties all the way toward the turn of the 20th century. The Philippine government for a long time didn’t have the dollar reserves to support consumer imports, drained in large part by massive corruption during the Marcos era and over borrowing. A foreign debt crisis emerged that pushed our country into a stringent belt tightening program so we can pay back our creditors led by the International Monetary Fund (IMF).  It took a long time to solve the problem. It took a lot of blood, sweat and tears mostly from the millions of Filipinos, who up to now are still working abroad and sending money back home. Add to that the strong resolve from our smart economic managers through the decades to never default and keep paying down our debts. The tax restructuring that makes us pay among the highest taxes in the world amidst poor public service. The US dollar receipts from the now burgeoning outsourcing businesses further increased the momentum in building up our international reserves which currently stands at over US$80 billion. This is 11 times the level of our monthly importations and much more than sufficient for our foreign debt service requirements. We have even become a net lender to the IMF.  Read More …

Feb 152016
 
Jasmine opens up on viral photo with Erwan

Jasmine Curtis-Smith (MNS Photo) Actress Jasmine Curtis-Smith admitted on Wednesday that she was baffled by the fans’ negative reaction towards her Snapchat video with Erwan Heussaff, the boyfriend of her sister Anne Curtis. The 21-year-old Jasmine opened up about the viral screenshot that shows her sharing a hug with Heussaff, which was taken from her sister’s private account. “Ewan ko ba. Actually, hindi ako nasaktan. More than anything, nagulat lang the way people reacted,” the actress said. “But, at the end of the day, you can’t avoid that there are cultural differences, there are people who might just don’t understand the relationship that the three of us have,” she added. According to Jasmine, she and Heussaff have always shared a playful relationship since the host-chef became her sister’s boyfriend back in 2011. “We’ve been that way ever since they’ve been dating. So it’s not that biglaan lang na may na-develop na ganun na closeness between us,” she explained. Asked if her relationship with Heussaff was affected by the criticisms she received, Jasmine replied: “No. …More than anything siguro, kinukuwestiyon ko lang paano ‘yung ganun… ‘yung mga isip ng mga tao.” (MNS)

Feb 142016
 

Action Plan 15 of the Organisation for Economic Co-operation and Development’s (OECD’s) Base Erosion Profit Shifting (BEPS) Project discusses the desirability and technical feasibility of a multilateral instrument to implement the treaty-related measures in the other BEPS Action Plans (discussed in previous articles in this column).

Feb 142016
 
Culture is the X factor behind the success of communities, nations

Bacolod City Bacolaudiat festival organizers Alfredo Barcelona, Mark Gomez and Jennifer Ong thank guest speaker, author Wilson Lee Flores. Culture has huge potential to add vigor to tourism and the economic vitality of a place. Bacolod City, for instance, recently celebrated the 11th anniversary of its now popular “Bacolaudiat” Chinese New Year festivity, which included a grand street parade, citywide decors and lanterns, last Feb. 8. Two years ago, their guest speaker was JG Summit Holdings founder John Gokongwei Jr. A few years ago it was LT Group and Philippine Airlines chairman Lucio C. Tan. This year, they invited me as a writer and history/culture enthusiast. In this multi-sectoral Chinese New Year celebration of Bacolod’s Chinese community and local government, the government officials were led by political rivals Congressman Evelio “Bing” Leonardia, Mayor Monico Puentebella, and Vice Mayor Greg Gasataya. The organizers of Bacolaudiat were led by the Bacolod Filipino Chinese Chamber of Commerce under president Alfredo Barcelona, the Bacolod Filipino Chinese Junior Chamber of Commerce led by past president Mark Gomez, and incumbent president Honey Lopue, the 11 clan associations, plus other business, cultural, and civic organizations. I gave a talk at the Bacolaudiat Spring Festival Gala dinner reception for 1,200 people at Bacolod’s SMX Convention Center. I have recreated the text of my short, extemporaneous speech below, which I delivered in both English and Hokkien: Congratulations to Bacolod City, to your dynamic Chinese community and to your local government for this successful 11th Bacolaudiat celebration. This wonderful festival Read More …