Philippines – Page 50

Ms. World 2013 Megan Young Pays Courtesy Call on Philippine Consul General

Oct 302013

Consul General Maria Hellen Barber De La Vega with Ms. World 2013 Megan Young. Los Angeles, 28 October 2013 – Ms. World 2013, Megan Young paid a courtesy call on Consul General Maria Hellen Barber De La Vega at the Philippine Consulate General on 25 October 2013. Ms. Young was accompanied by Miss World Events Director Steve Douglas. In their discussion with Consul General Maria Hellen Barber De La Vega, they informed that Miss World, aside from being a beauty pageant, is a platform for young women in making a difference. As Ms. World, Megan will be travelling to 40 countries. She will be involved with charity projects such as fund raising for Haiti and fund-raising for ventilator machines for the Philippine General Hospital (PGH) and the Tuloy Foundation in Alabang, Philippines headed by Father Rocky Evangelista. Tuloy Foundation started years ago with only 12 children from the streets and presently has over 900 children in their compound. The Tuloy Foundation has built a gymnasium and a church and providing education for children, aside from housing 200 to 300 children. Ms Young was born in Alexandria, Virginia of a Filipina mother and American father. She moved to the Philippines when she was a child. She went to school in the Philippines and pursued a career in show business. Ms. World 2013, Megan Young at the Philippine Consulate General (L-R) Consul Charmaine Serna-Chua, Deputy Consul General Daniel Espiritu, Ms. Megan Young, Consul General De La Vega, Consul Marlowe Miranda, Vice Consul Read More …

US-based fund secures 5% stake in Metro Pacific

Economy

Oct 302013

US-based fund secures 5% stake in Metro Pacific

MANILA, Philippines – A Washington-based investment manager focusing on emerging markets has secured a minority stake in infrastructure conglomerate Metro Pacific Investments Corp. (MPIC). In a regulatory filing, MPIC said Cartica Management Llc has secured 5.02 percent or 1.306 billion shares of the company. The transaction is “an investment position taken in connection with Cartica’s ordinary course of business in investment management,” MPIC said. In the past two months, Cartica, which was founded in 2008, has been buying around 21 million to 141 million shares in MPIC. “Cartica is an emerging markets fund manager employing an active ownership strategy to achieve superior returns for investors,” the company said in its web site. Its recent acquisitions and private placements include Skyware Radio Systems GmbH, India’s TTK Prestige Ltd. and The Ratnakar Bank Ltd. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Cartica manages a series of fund vehicles all investing together in a concentrated, long-only portfolio of equity securities of publicly-traded companies,” the fund manager said. Cartica manages money for large US pensions like Calpers and the State of Wisconsin Investment Board. “Cartica acquires significant stakes, usually representing two to five percent of the outstanding shares of a portfolio company,” it added. Its investment team previously worked together in the senior leadership of the World Bank Group’s International Finance Corp., which focuses on investing in emerging markets like the Philippines. For its part, MPIC is one of the top conglomerates in the Philippines focusing in the industrial sector. MPIC’s core Read More …

PAL further expands int’l reach

Economy

Oct 272013

MANILA, Philippines – National flag carrier Philippine Airlines (PAL), jointly owned by taipan Lucio Tan and diversified conglomerate San Miguel Corp. (SMC), is further expanding its international reach through flights to Russia and London. PAL president and chief operating officer Ramon S. Ang said the new international destinations of the full service airline would boost the government’s campaign of luring 10 million tourists to visit the Philippines by 2016. “We recognize the growing demand from Russian tourists for a direct air link to the Philippines. Through this service, we hope to be able to serve this market and more importantly, help our government’s efforts to boost tourism,” Ang stressed. PAL yesterday mounted chartered flights between Manila and the Russian city of Vladivostok in partnership with Primorsky Agency of Aviation Companies TM Biletur. Chartered flights to and from the two cities would be scheduled throughout the year. Data from the Department of Tourism showed a 33-percent increase in the number of Russian tourists to 21,736 in the first eight months of the year. From Manila, Russian visitors would be able to fly out to PAL’s domestic destinations including Caticlan (Boracay), Cebu, Tagbilaran (Bohol), Puerto Princesa, and Legaspi. The visitors could also connect to the carrier’s regional and international hubs. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 PAL is also set to mount direct flights to London on Nov. 4 after the European Union lifted the ban on the airline from entering the European airspace last July 12. Ang said Read More …

UN seeks int’l aid for Bohol

News

Oct 252013

Volunteers for and members of the Philippine Red Cross team carry goods that were transported through a boat after a bridge collapsed from a massive quake that hit Bohol. ALANAH TORRALBA/ IFRC The United Nations on Friday appealed for $46.8 million (P2.01 billion) in international aid for more than 380,000 people in Bohol province now living in tents after a 7.2-magnitude earthquake struck Central Visayas last week. Australia was the first to respond, announcing on Friday that it would provide up to P124 million in aid to support the Philippine government’s response to the humanitarian emergency caused by the earthquake in Bohol and Cebu province. The earthquake flattened homes, schools, clinics, centuries-old churches and other vital infrastructure, killing more than 200 persons. A further 35,000 families need emergency shelter while more than 380,000 residents of Bohol require assistance for basic needs like water, sanitation, food and health services for six months, UN resident humanitarian coordinator Luizha Carvalho said. “At this moment, the Philippines is the one [country] that really stands alone with the highest of needs and the highest requirements,” Carvalho told a news conference. Carvalho said she hoped donors would still give money despite a series of recent natural and man-made disasters that also required international assistance, such as a destructive typhoon in December last year and Moro rebel attacks that destroyed parts of the southern city of Zamboanga last month. “We have a very interesting pattern of several events that are happening almost simultaneously and we still hope Read More …

Palace: Quake, disaster preparedness should start at home

Entertainment

Oct 252013

Palace: Quake, disaster preparedness should start at home

Bartolome Bautista, deputy director of Philippine Institute of Volcanology and Seismology (PHIVOLCS), points to the epicenter of the magnitude 6.8 earthquake which hit central Philippines on Monday Feb. 6, 2012 during a news conference at suburban Quezon city, northeast of Manila, Philippines. Officials said the quake in central Philippines killed at least five people as it destroyed buildings, triggered landslides that buried dozens of houses, trapping residents and listed 29 more as missing. (MNS photo) MANILA (Mabuhay) – After the deadly magnitude-7.2 quake that devastated Central Visayas, Malacañang on Saturday pushed for quake preparedness measures at the community and family levels. Deputy presidential spokesperson Abigail Valte said families should draw up and review their own measures, saying disaster preparedness starts at home. “We highly encourage everybody to review your family’s disaster preparedness measures. Kung lahat tayo maihanda ang pamilya natin, malaking bagay ‘yan,” she said on government-run dzRB radio. Her call came amid reports that the West Valley Fault Line could move every 200 to 400 years, with the last major movement occurring 200 years ago. So far, she said the Philippine Institute of Volcanology and Seismology has been distributing geo-hazard maps to local governments. “Ang pinakamagandang panangga rito, ihanda natin ang ating pamilya,” she said. In the meantime, she urged the public to make sure their homes are structurally sound. She also said government preparedness measures “will be for naught if citizens do not cooperate.” “If we can take care of our families and contribute to the preparedness of Read More …

Palace: Obama visit may push through now that US shutdown has ended

Entertainment

Oct 252013

Palace: Obama visit may push through now that US shutdown has ended

President Barack Obama talks on the phone with FBI Director Robert Mueller to receive an update on the explosions that occurred in Boston, in the Oval Office, April 15, 2013. Seated with the President are Lisa Monaco, Assistant to the President for Homeland Security and Counterterrorism, and Chief of Staff Denis McDonough. (Official White House Photo by Pete Souza) MANILA (Mabuhay) — Now that the partial shutdown of the United States government is over, Malacañang said the visit of US President Barack Obama to the Philippines may now push through. Deputy presidential spokesperson Abigail Valte said that while there has been no sign for now on when the visit will take place, saying it could be at a “mutually convenient” time for both countries. “(Obama) also committed to push through with his visit at a mutually convenient time for both countries. Kakatapos lang ng domestic issues doon,” she said on government-run dzRB radio. But when asked if there has been any immediate indication of when the visit will be, she said, “Wala pa naman (None as of now).” Earlier, the US announced Obama may not push through with his visit to the Philippines due to the partial shutdown of the government in the US. The partial shutdown had been caused by a deadlocked Congress, but ended after a budget deal was passed. President Benigno Aquino earlier said he understands why Obama canceled his visit to the Philippines amid the partial government shutdown. “(W)e perfectly understand the situation. Stability in their Read More …

Phl gets support of 3 countries to keep rice import restriction

Economy

Oct 232013

Phl gets support of 3 countries to keep rice import restriction

MANILA, Philippines – Three countries have endorsed the Philippines’ bid to keep its special restriction on rice imports until 2017. The National Food Authority (NFA) said China, India and Indonesia have supported the country’s petition to continue imposing its quantitative restriction (QR) on rice during a meeting of the World Trade Organization (WTO) Committee on Trade in Goods (CTG) in Geneva. Rice is the only commodity in the Philippines that enjoy a special restriction. “The outcome of the CTG (meeting) has reinvigorated and boosted the country’s efforts in pushing the initiative into positive conclusion by early next year,” Agriculture Assistant Secretary Romeo Recide, chief negotiator of the Philippines, said. The country’s petition will be tackled again in the special CTG meeting in March, during which a general consensus on the matter is expected to be arrived at. “If this goes well, we may get the general concensus by March,” said NFA administrator Orlan Calayag, adviser to the negotiating panel. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 This corresponds to the final approval of the Philippines’ petition on the QR extension. Participating in the negotiations for the country’s bid for QR extension are Australia, China, Canada, India, Indonesia, El Salvador, Pakistan, Thailand, US, and Vietnam. Also included in the negotiations are European Union, Japan and Korea. “What is important is that we get the consensus of the countries we are negotiating with,” said Calayag. The European Union, Japan and Korea have also shown support for the country’s petition.

Fil-Am version of ‘TED Talks’ spotlights inspiring personal journeys

News

Oct 222013

Fil-Am version of ‘TED Talks’ spotlights inspiring personal journeys

Filmmaker-Filipinophile Megan Pinsonneault. CONTRIBUTED PHOTO LOS ANGELES—NextDayBetter, the TED Talks-type platform for Filipino-Americans, opened recently amid high expectations from a contingent of Fil-Am cognoscenti at the trendy Busby’s East—and delivered. While the pre-talks promotion did not trumpet “transcending, inspiring ideas worth spreading” in the order of globally popular TED Talks conference, the expectations were more than met by the inspiring messages from the speakers coming in from inspiring lives in Los Angeles. The Los Angeles talk rollout featured Los Angeles Senior Assistant City Attorney Ed Angeles; youthful AJ Rafael, an up-and-coming songwriter-singer and YouTube sensation; and Meg Pinsonneault, a Portuguese-born American and former Peace Corps volunteer who is now a Filipinophile film producer. All three commanded the attention of an audience of close to a hundred who were treated to remarkable stories of achievement. The Los Angeles talks followed three NextDayBetter NY events held early this year, which Ryan Letada, the organization’s Bronx-native Filipino-American prime mover cum Chief Builder says, will be regular events in the cities of Toronto, Vancouver, Sydney, London, San Francisco, Los Angeles, Chicago, New York, Manila, Cebu and Davao by March next year. Ed Angeles’ story began as a young immigrant aboard the last plane out of Manila just as martial law was declared in the Philippines in 1972. He grew up in the San Francisco area to become a lawyer and, in a visit back to Manila on the heels of a successful law career in public service as LA senior assistant city attorney, fittingly Read More …

Gov’t debt swells to P5.46 T

Economy

Oct 222013

MANILA, Philippines – The outstanding debt of the government slightly rose as of July this year as the government continued to borrow to boost the economy. Data from the Department of Treasury showed that the outstanding debt amounted to P5.46 trillion as of July this year, slightly up from the P5.156 trillion recorded a year earlier. The latest figure was also up 0.2 percent or P9 billion from the end-June level. A big chunk of the debt or P3.5 trillion came from domestic sources while the remaining P1.96 trillion was sourced from foreign lenders. Local debt declined 0.1 percent or P2 billion as the government redeemed more local debt papers compared to the volume that was issued. Debt guaranteed by the government likewise went up 0.3 percent to P492 billion. Of the total, 70.7 percent or P348.1 billion are external guaranteed obligations while 29.3 percent or P144 billion are domestic guaranteed debts. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The net appreciation of third currencies caused an increase in the peso value of external guaranteed obligations. The net appreciation of third currencies caused an increase in the peso value of external guaranteed debt while domestic guaranteed debt remained unchanged over the previous month’s level. Aside from loans extended by multilateral lenders and official aid from foreign governments, the Philippines also borrows through the issuance of bonds.

Binay pushes revitalization of mining, mfg sectors

Economy

Oct 222013

Binay pushes revitalization of mining, mfg sectors

MANILA, Philippines – The government needs to revitalize the mining and manufacturing sectors to create more jobs and achieve economic growth according to Vice President Jejomar Binay in his speech at the opening of the 39th Philippine Business Conference and Expo yesterday. Binay is pushing for the revitalization of both the manufacturing and mining sectors as these are seen to support economic growth. Attracting investments in both sectors, the VP said would not only provide jobs but also give individuals higher incomes. “On the latter, the Philippines is one of the most mineralized countries in the world and given the value of metals in the world, this sector can boost our level of economic development several notches higher, so long as we put in place proper environmental safeguards, and ensure that working conditions meet decent work international guidelines and activities in the Investment Priorities Plan (IPP) for 2012 and beyond,” he said. He noted that mining could be accepted provided that there is responsibility, accountability and sustainability. “With many experiences from the outside world, the Philippines certainly can learn from the best mining practices that creates a balance in economic development through harnessing natural resources and protecting the environment,” he said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 While there is interest from mining firms to invest in the country, they have been on a wait-and-see attitude as the government has yet to come up with a new revenue sharing scheme. The Chamber of Mines of the Philippines Read More …

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