Positive sentiments boost share prices

 Economy
Jul 052013
 
Positive sentiments boost share prices

MANILA, Philippines – The Philippine Stock Exchange index (PSEi) advanced 0.56 percent or 36.22 points to settle at 6,500.48, ending the week with a two-day climb as investors turned positive following a streak of favorable foreign news. The broader all shares index added 0.44 percent or 17.31 points to 3,972.63. “The trend is that global markets remain cautious but positive and the local market continued to be overwhelmed by bargain hunters,” Astro C. del Castillo, managing director of First Grade Finance Inc., said in a phone interview. Asia Pacific also ended the week with another gain, giving local investors a positive sign as jitters eased in the past few days, Del Castillo said. Asian shares rose on Friday as investors take position ahead of the US Labor Department’s release of employment data. A weaker job market is seen to convince the US Federal Reserve not to ease its bond buying stimulus program. US financial markets were closed for the Independence Day holiday. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In the local bourse, counters were mixed, led by holding firms that added 1.28 percent or 75.54 points to 5,960.72. Decliners were paced by 0.56 percent or 82.45 points to 14,532.53. The value of shares traded fell to P5.18 billion compared with P5.43 billion on Thursday. Net foreign selling hit P188.49 million. Advancers outplayed decliners, 86 to 64, while 46 stocks did not change.

Phl needs $600-M investment for energy efficiency, says ADB

 Economy
Jun 272013
 
Phl needs $600-M investment for energy efficiency, says ADB

MANILA, Philippines – The Asian Development Bank (ADB) is eyeing to accelerate investments in end-user energy efficiency to help Asia Pacific economies meet the growing demand for power. At the 8th Asia Clean Energy Forum organized by the ADB, Bindu Lohani, ADB vice-president for knowledge management and sustainable development, said the Philippines needs $601 million in investments for energy efficiency from now up to 2020. He said there is huge potential for saving energy by making buildings, vehicles, machinery and water pumps more energy efficient to the benefit of consumers and the environment, and the time is right for ADB to do more in the area. “We want to promote demand-side energy efficiency through public and private sector partnership with ADB taking a lead role in providing customized policy advisory services, technical assistance and innovate financing support in developing member countries,” Lohani said. In a new ADB study, the multilateral lender noted the booming demand for power in developing Asia. In the study, the ADB said the region’s share in primary global energy consumption is set to rise to 56 percent in 2035 from only 34 percent in 2010. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 By then, the ADB said most Asian countries will produce less than half of the energy they need, forcing substantial fuel imports. The ADB study said if governments push for more energy efficiency investments, there would be less need to build power plants. This would free up government funds for spending elsewhere. Read More …

IATA pushes single airport system for Phl

 Economy
May 052013
 
IATA pushes single airport system for Phl

MANILA, Philippines – The International Air Transport Association (IATA) is pushing for the continued improvement of the operations of the congested Ninoy Aquino International Airport (NAIA) and the establishment of an alternative gateway within the metropolis. Albert Tjoeng, IATA’s assistant director of corporate communications for Asia Pacific, said the organization is supporting a single airport solution that is easily accessible from the city.  “The priority for Manila is to maximize the effective capacity and throughput from the existing facilities.  IATA has provided guidance to the authorities in this regard, such as building rapid exit taxiways and better slot management. But there is a need to develop a long term solution to the airport needs of the Manila area,” Tjoeng said in an e-mail. Transportation Secretary Joseph Emilio Abaya earlier said Malacañang is carefully studying three options including the possibility of shutting down and selling NAIA to reach a decision on whether the Philippines would adopt a single or twin airport system. Abaya said the first option involves a single airport system wherein the government would shut down and sell the congested NAIA and develop the Clark International Airport in Pampanga. The second option, he revealed, involves dual system wherein the government would develop Clark and at the same time maximize the operations of NAIA until 2025 while looking for an alternative site for a new airport that would be 25 kilometers or 30 minutes away from the existing gateway. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The DOTC Read More …

US to deploy F/A-18 warplanes for military drills with PHL

 News
Apr 042013
 
US to deploy F/A-18 warplanes for military drills with PHL

Washington will deploy this week a dozen F/A-18 fighters to the Philippines, the first time it has sent so many of the aircraft there, to take part in annual military drills with a close security ally amid rising tension in the Asia-Pacific region. The presence of the warplanes is not connected to tensions on the Korean peninsula, a Philippine army spokesman said. “These exercises were planned more than a year ago, well ahead of what is now happening in the region,” Major Emmanuel Garcia said. The United States plans to send a missile defense system to protect Pacific island Guam, where it has a large military base, after North Korea threatened to launch nuclear attacks on the North American mainland over disagreements on its atomic programme. The bilateral military activities will begin on Friday with 8,000 American and Filipino troops staging mock battles and simulating disaster responses, army spokesman Garcia said. The war games are being held to test the two allies’ defense plans based on the Mutual Defence Treaty, an important link in Washington’s chain of security alliances in the Asia-Pacific region. The U.S. has similar military arrangements with South Korea, Japan, Singapore and Australia. “There will be table top exercises on how the militaries of the two countries would respond to a destructive typhoon as well as in the event of a major ship collision on the high seas,” Garcia said, adding the combat aspect would showcase the capability of the U.S. Navy’s multi-role fighters. The Philippines lost Read More …

Sun Life sees income doubling in Asia Pacific

 Economy
Feb 202013
 
Sun Life sees income doubling in Asia Pacific

MANILA, Philippines – Canada-based insurance giant Sun Life Financial is optimistic it could double its income from its Asia Pacific operations to $250 million in 2015 from $129 million this year as it continues to expand in the region. In an interview on the sidelines of the 14th Asia Pacific Life Insurance Congress (APLIC), Sun Life Financial Asia president Kevin Strain said the earnings assumption would be supported by the projected double-digit growth in sales in the region over the next three years. Sun Life’s interests in Asia include the Philippines, Hong Kong, Indonesia, India and China. This year, Strain said they would expand operations in Malaysia and Vietnam. “We are now in seven countries in Asia. We added Vietnam and Malaysia. We are now in four ASEAN countries  – Philippines, Malaysia, Vietnam and Indonesia. We have great expectations. The ASEAN region has been growing so quickly, growing middle class, growing GDP. We think, there’s an incredible opportunity to get real growth in our business in Asia, in particular in our ASEAN business,” he said. Strain said among its businesses in ASEAN, the Philippines has the strongest potential for growth. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We are most proud of our business here in the Philippines. It is such a strong business. It has a great brand position. We have number one position in terms of insurance sales, number two for mutual funds, and a really great leadership platform to show to the rest of our Read More …

Top 7 BYOD enterprise network concerns identified

 Economy
Feb 072013
 
Top 7 BYOD enterprise network concerns identified

Blue Coat executives Albert Kuo, Vice President, Asia Pacific Field Operations of Blue Coat Systems Singapore (left) and Jonathan Andersen, Director for Product Marketing in Asia Pacific, during a press conference at the Shangri-La Hotel in Makati City, Philippines. TAM NODA MANILA, Philippines — US-based Web security company Blue Coat Inc.  on Thursday identified  seven bring-your-own-device (BYOD) traffic disruptors that cause IT nightmares among enterprise networks. Blue Coat referred to activities and content sites that take up valuable Wide Area Network (WAN) and internet bandwidth and disrupt the performance of mission-critical enterprise applications. Jonathan Andersen, Blue Coat’s Director for Product Marketing in Asia Pacific, reported recreational web browsing and multimedia traffic caused by the use of applications on personal BYOD smartphones and tablets take up between 30 percent and 60 percent of the total bandwidth. The “always on” connectivity was also cited to drive greater threat risk. “Employees don’t have much security on their phones. They spend an average of 1.5 hours of web browsing using their mobile devices,” said Andersen, noting the users’ vulnerability to phishing attacks. The seven identified BYOD concerns are: BYOD device OS updates and upgrades; app downloads; photo and video uploads and downloads; BYOD backup to cloud storage or a company-issued laptop or desktop; watching recreational video on YouTube; Facetime and Skype video/audio conferencing; and guest wireless. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 On OS updates and upgrades issues alone, Blue Coat said  a single BYOD device can easily overwhelm network bandwidth with Read More …

Australian firm to put up thermal paper plant in Phl

 Economy
Feb 052013
 
Australian firm to put up thermal paper plant in Phl

MANILA, Philippines – Australian thermal paper manufacturer TMA is putting up a multi-billion peso plant in the Philippines, a first in the country, to supply the growing needs of various industries.  “TMA Australia Pty. Ltd. is definitely consolidating its manufacturing operations in the Philippines. It has entered into a lease agreement to put up its manufacturing facilities in one the Philippine Economic Zone Authority (PEZA) zones,” Anthony Karam, TMA chief executive officer said. The multi-billion peso thermal paper plant in Laguna will be the first in the country and will start operations using state-of-the-art equipment and machinery before the second quarter of this year, Karam said. Initial reports have indicated that TMA is pulling out of China and will relocate to the Philippines as its regional hub for Asia and the Pacific. TMA, a leading manufacturer of thermal and other paper products in the Asia Pacific and Australia, is now in the process of making the Philippines as its regional hub in the Asia-Pacific region. It is the only thermal paper plant being set up in the country using high-tech machinery while other local suppliers have to import thermal papers being utilized by government agencies, airlines and other private firms. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 TMA products’ pricing is also competitive since TMA will not have to deal with tariffs and other duties. Full operations are expected early in 2013, the Australia-based company said, with 500 workers to be hired initially. This will grow to about Read More …

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