Maniolas

A new tourism masterplan is now making the rounds of stakeholders. The masterplan aims to raise tourist arrivals to 12 million by 2022, doubling the target this year of six million visitors over the next six years. It’s going to be a tough act, especially since the 2017 budget had been slashed by about 30 percent to P2.5 billion from P3.6 billion last year. More than finding ways of stretching the budget, though, the Tourism department will have to think of new ways to achieve its target. What seems to be the first line of attack of the new Tourism officials is tweaking the current advertising slogan “It’s more Fun in the Philippines.” And, as Tourism Secretary Wanda Teo says, the invitation to come to the Philippines needs to be more defining. Not enticing enough This is apparently an offshoot of a Nielsen study (not the extra judicial killings under the administration of President Rodrigo Duterte that rumors say have somehow made the current slogan ironical) where it was pointed out that, while the slogan is catchy, it does not entice tourists to come visit the Philippines. According to the study, commissioned by the Tourism department under former secretary Ramon Jimenez, two of three European respondents said they liked the slogan, but unfortunately, only one in four expressed a desire to visit the Philippines. The study, conducted over two months from March to April, also bared that three in four North American survey respondents were amused by the slogan, but Read More …

The seven- and 28-day term deposits fetched higher rates yesterday ahead of the increase in the volume of the term deposit facility (TDF) to be implemented by the Bangko Sentral ng Pilipinas (BSP) on Dec. 1. File photo Fed rate hike, Trump presidency causing jitters MANILA, Philippines – Term deposits continued to fetch higher yields due to the uncertainties brought about by the impending interest rate hike in the US next month and the assumption into office of US president-elect Donald Trump early next year. The seven- and 28-day term deposits fetched higher rates yesterday ahead of the increase in the volume of the term deposit facility (TDF) to be implemented by the Bangko Sentral ng Pilipinas (BSP) on Dec. 1. During yesterday’s auction, the seven-day term deposits fetched 2.5249 percent from last week’s 2.5232 percent as accepted yield ranged between 2.5 and 2.5313 percent while yield of the 28-day term deposits inched up to 2.8023 percent from 2.7842 percent as accepted yield ranged from 2.5 to 2.95 percent. BSP Governor Amando Tetangco Jr. said the auction results were expected. Bids for the seven-day term deposits reached P22.79 billion for a lower bid coverage ratio of 2.279 while tenders for the 28-day term deposits amounted to P150.55 billion for a lower bid coverage ratio of 1.2546. “The bid to cover ratio changes are beginning to reflect seasonality given these tenors would mature close to the holidays,” Tetangco said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The BSP made Read More …

After launching the Kapatid, Angat Lahat program last August, we have launched one of its components, the Go Negosyo Mentor Me program, in different provinces and cities such as Cavite, Tarlac, Baguio, Iloilo, Tacloban, Cebu, Davao, General Santos, Cayagan de Oro, Tubod and Zamboanga. For the past months, together with DTI and our partners, we have deployed many entrepreneur-mentors who are willing to guide and assist the micro entrepreneurs (MEs) in their journey to scaling up. First batch of graduates from Mentor ME Baguio with DTI-CAR representatives and panelists. Just recently, Baguio and Zamboanga concluded their first batch of Mentor ME last Nov. 18 and 21, respectively. Their culmination day is a combination of business plan presentation and graduation rites. During the presentation, mentees were asked to present their business model or plans for expansion to a panel composed of a) bank/financing institution, b) entrepreneurs whose expertise are on operations and marketing, c) Go Negosyo Angelpreneur/DTI regional director and their d) Negosyo Center business counselor who will help them realize these plans even after graduating from the Mentor ME program. For most of those who are already running their business for years, I am equally surprised and relieved that it’s their first time to prepare a business plan. Relieved simply because they are appreciative of the fact that at last someone has taught them that a detailed plan is essential for an entrepreneur who is eager to be successful. I am delighted to share some of the first batch of Read More …

MANILA, Philippines – Jollibee Foods Corp. (JFC) now fully owns Happy Bee Foods Processing after acquiring the remaining 30 percent of the food manufacturing company from its Chinese partner.  In a disclosure to the Philippine Stock Exchange yesterday, JFC said its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) has already obtained the necessary government and regulatory approvals in China for the transfer of assets in Happy Bee Foods Processing. The transfer is necessary for JFC to acquire 100 percent of the food processing plant. JFC said obtaining 100 percent of the China-based food facility would enable them to concentrate on growing its Yonghe King business. Happy Bee produces the food products sold at Yonghe King stores. “Yonghe King is JFC’s largest business in China with a total of 316 stores as of Oct. 31, 2016 and contributes eight percent to JFC’s worldwide system-wide sales,” the Filipino-owned fastfood giant said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 At present, JFC operates 22 commissaries worldwide of which 15 are in the country, three in China, three in the US and one in Vietnam. It is also building three additional commissaries in Luzon Island in the Philippines and a joint venture with ISE Foods Inc., a Japanese firm, for an egg production facility in the Philippines. The company’s strategy is to build and operate its own commissaries to supply food products to its restaurants with the aim of achieving superiority in product quality and a very high level of assurance in Read More …