Philippines – Page 77

Market intelligence seen as key to competitiveness

Economy

Jun 052013

Market intelligence seen as key to competitiveness

MANILA, Philippines – The Philippine Franchise Association (PFA) has advised local entrepreneurs to prepare for the next wave of foreign brands that will enter the country, through constant retooling and market intelligence. Samie Lim, the recognized “Father of Philippine Franchising,” said the scheduled integration of Southeast Asia into a single market in 2015 presents a formidable challenge for existing businesses in the country to gear up and face tougher competition from other brands in the region. “It is but prudent for local brand owners to continuously check out competition and learn the latest trends globally. The PFA is aware of this, which is why we have put together anew a distinguished line-up of local and foreign experts that will speak in the two-day Franchise Asia Philippines 2013 International Conference at the SMX Convention Center on July 17 and 18,” Lim said. Lim, PFA chairman emeritus, will set the tone for the plenary session on day one of the conference by making a presentation on the “Global Franchise Trends and Opportunities.” The conference is a major component of the 4-in-1 Franchise Asia Philippines 2013, organized by PFA and co-presented with BPI Family Ka-Negosyo, PLDT SME Nation and Sun Cellular, the biggest and grandest franchising event in Asia today with its banner theme “Asia to the World, The World to Asia: Driving Growth Towards a Philippine Tiger Economy.” “This year’s line up of speakers will tackle the latest trends and developments in the franchise sector, local and international,” Franchise Asia Philippines 2013 Overall Read More …

Stocks suffer another selldown

Economy

Jun 052013

MANILA, Philippines – Stocks fell for the third straight day as fund managers continue to unload their holdings as part of a global realignment of investments. The benchmark Philippine Stock Exchange index dropped 1.73 percent or 115.58 points to end at 6,557.89, the lowest point since closing at 6,518.71 on March 22. “The portfolio realignment of investors continues with the changing investment environment in the global arena,” Astro del Castillo, managing director of First Grade Finance Inc., said in a phone interview. “We are waiting for the dust to settle before bargain hunters come in,” he said. Fund managers have been pocketing gains from stocks amid worries over the rollback of the US Federal Reserve’s stimulus program. Del Castillo said there is no market moving news locally, with benign inflation figures failing to lift investor sentiment. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “A correction in the equity market as we had seen in the last few days should not come as a surprise to participants,” Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said in a text message to reporters. He shrugged off concerns of a sudden market downturn evolving into a financial crash, saying the financial markets should be expected “to move up and down.” The central bank chief, who has long rejected the possibility of a repeat of the 1997 Asian financial crisis, said the Philippines is in a better position now and that domestically, there is no reason why investors should depart. – With Read More …

Senate OKs anti-bullying bill

News

Jun 052013

The Senate on Wednesday approved a bill that seeks to curb incidents of bullying in schools in the country. The approved measure directs elementary and secondary schools in the Philippines to put in place policies that will address bullying. “The heart of this measure is the education of parents on bullying and to familiarize them with the anti-bullying policies of the school. With that information, parents would have better choices which schools to send their children,” said Senator Edgardo Angara, one of the authors of the bill, in a statement. The measure also tasks the Department of Education to propose administrative sanctions for schools who will not have anti-bullying policies. In the House version of the bill, which was approved last December, bullying may be in the form of “any severe or repeated use by one or more students of a written, verbal or electronic expression, or a physical act or gesture, or any combination thereof.” The House bill added that these actions should be “directed at another student that has the effect of actually causing or placing the latter in reasonable fear of physical or emotional harm or damage to his property” to be considered as bullying. The Senate committee on education, arts and culture opted to use the House version as its working document, take two similar Senate bills into consideration (SB 413, SB 2677) and approve the bill with five specific amendments. A bicameral conference committee will convene soon and its output will then ratified by both Read More …

Palace downplays US travel alert notice

News

Jun 052013

The United States was just being “prudent” when it issued an alert notice to its citizens in the Philippines, Malacañang said Wednesday as it downplayed the advisory. “That’s part of their alert notice to their citizens. Very recently, they made a travel alert also. Again, this part of their being prudent as someone who would like to protect their citizens here,” presidential spokesperson Edwin Lacierda said at a press briefing. In an advisory, the US State Department cited the growing terrorist groups particularly in Mindanao that are targeting foreigners. The report also classified the Communist Party of the Philippines (CPP) and its armed branch, the New People’s Army (NPA), as terrorist groups. Lacierda said although the notorious Abu Sayyaf bandit group still exists, its numbers have been “effectively decimated” by the military. “We are aware of the presence of Abu Sayyaf. It is not a secret but the Abu Sayyaf is more or less a bandit group already. Our Armed Forces have effectively decimated their numbers,” he said. “They have been reduced to a kidnap-for-ransom group and that’s the status right now, and we continue to pursue lawless elements in the country,” Lacierda added. Lacierda, however, refused to comment on the US State Department’s classification of the CPP-NPA as a terrorist group. “Well, it’s not for us to say ‘do we agree or not’. That’s how they would like to classify the CPP-NPA,” he said. — Patricia Denise Chiu/KBK, GMA News

USPACOM's Locklear to visit PHL again

News

Jun 052013

A ranking United States military officer is set to visit the Philippines this week to consult with defense authorities “on a range of common security challenges,” but no media event was scheduled. According to a statement from the US Embassy in Manila on Wednesday, Admiral Samuel Locklear III, commander of the US Pacific Command (USPACOM), will be in Manila on Thursday and Friday. Prior to his scheduled arrival, Locklear attended the annual Shangri-la Dialogue security conference in Singapore where he met with Asia-Pacific defense officials. In June last year, Locklear accompanied General Martin Dempsey, the highest-ranking general in the US military, to meet President Benigno Aquino III, also after attending the Shangri-la Dialogue. The following month, Locklear paid a courtesy call on Aquino to talk about maritime and regional security, as well as the US-Philippine bilateral defense alliance. Locklear’s personal decorations include the Defense Distinguished Service Medal, Distinguished Service Medal with one gold star, Defense Superior Service Medal, Legion of Merit with four gold stars, Bronze Star Medal, and numerous individual, Campaign and Unit awards. The US and Philippines are allied by a 1951 mutual defense treaty. In the early 1990s US forces vacated Clark Air Base and Subic Naval Base, two large facilities used during the Vietnam War, after a disagreement over rents. In recent years the Philippines has been seeking to improve its defense ties with the US amid a festering territorial dispute with China over parts of the South China Sea. Some of its facilities are being used in Read More …

‘Kabang’ set for hero’s return after surgery in US

News

Jun 042013

‘Kabang’ set for hero’s return after surgery in US

Agence France-Presse 9:02 pm | Tuesday, June 4th, 2013 Kabang, a two-year-old injured mixed breed, chews on a toy after being released from the from the William R. Pritchard Veterinary Medical Teaching Hospital at the University of California, Davis, in Davis, Calif., Monday, June 3, 2013. Kabang lost her snout and upper jaw saving two girls’ lives and is heading back to the Philippines after treatment at a California hospital. AP MANILA, Philippines — A mongrel dog is set for a hero’s welcome when she returns to the Philippines following surgery in the United States to reconstruct her face after apparently saving two girls from being hit by a motorcycle. Kabang was released from the University of California’s Davis Veterinary Hospital on Monday after eight months of treatment in which her face was partially rebuilt and she was cured of cancer and heartworm. In 2011 Kabang, then aged two and pregnant, became a hero in the Philippines after running in front of a motorcycle in what her owner said was a deliberate act to save her daughter and niece who were crossing a busy road. Thousands of dollars were raised for her treatment through an online campaign. “I think I will cry when I see her. She’s like a member of our family,” said owner Rudy Bunggal, a laborer who lives in a shanty in a poor southern Philippine town, told AFP by phone on Tuesday. In the accident Kabang’s snout and part of her jaw were torn off when Read More …

Aquino to seek investments, tourists in Burma

News

Jun 042013

Aquino to seek investments, tourists in Burma

By Gil CabacunganPhilippine Daily Inquirer 8:45 pm | Tuesday, June 4th, 2013 President Benigno Aquino III. INQUIRER FILE PHOTO MANILA, Philippines — President Aquino and some members of his Cabinet will fly to Burma (Myanmar) on Friday to seek foreign capital and tourism dollars at the annual gathering of global leaders from business and politics–the World Economic Forum (WEF) on East Asia–which convenes in Naypyitaw, the new Burmese capital city and administrative center. “The main reason for attending the forum is to invite foreign investors to come to the Philippines and, of course, to attract tourists as well,” said Ramon Carandang, head of the Presidential Communications Development and Strategic Planning Office. “We’re going to try to reach a broad range of investors–of potential investors. [This is] similar to what happened in Davos except that here, where there’s a focus on East Asia, many of the businessmen will be from our part of the world,” he said. This will be Mr. Aquino’s first visit to Burma and the first by a Philippine president since 1997. The President will be accompanied on the one-day trip by Finance Secretary Cesar Purisima, Budget Secretary Florencio Abad Jr., Trade Secretary Gregory Domingo, Foreign Secretary Albert del Rosario, Socioeconomic Planning Secretary Arsenio Balisacan, Energy Secretary Jericho Petilla, Cabinet Secretary Jose Rene Almendras and Tourism Secretary Ramon Jimenez. The President’s team is also expected to observe Burma’s hosting of the WEF as the Philippines will host the meeting next year. “By tradition, the incoming host personally invites Read More …

Implementing regulations for common carriers

Economy

Jun 032013

ON MARCH 29, 2013, Republic Act (RA) 10378, “An Act Recognizing the Principle of Reciprocity as Basis for the Grant of Income Tax Exemptions to International Carriers,” took effect. The law touches on the tax treatment of international air carriers having landing rights in the Philippines. Many sectors have lobbied for this reform claiming the legislation has long been overdue. The business community is optimistic that the new law will aid in the movement of passenger, goods and commodities and encourage investments in the Philippines in line with the government’s thrust of improving the economy.

Moody’s hints of upgrade for Phl

Economy

Jun 032013

MANILA, Philippines – The country’s third investment grade rating may be forthcoming as Moody’s Investors Service has lauded the Philippine economy’s robust expansion, the Aquino government’s record budget surplus, and the conduct of generally peaceful elections. Moody’s is the only global credit rating agency that still rates the Philippines one notch below investment grade or BA1. The country obtained its first, investment grade upgrade from Fitch Ratings Services in March. Standard & Poors’ followed suit in May. In a statement issued yesterday, Moody’s said the Philippines’ first quarter GDP (gross domestic product) and record budget surplus are “credit positive,” a sign that that an upgrade may be in the offing. National Treasurer Rosalia De Leon said officials from Moody’s are expected to arrive in the Philippines next month. Last week, the government announced that it posted a P36.8-billion budget surplus in April, the highest monthly surplus it achieved, largely due to a 28.9- percent year-on-year increase in income tax receipts. “The improvement in tax receipts demonstrates that the government’s efforts to bolster tax compliance are gaining traction and helping to boost revenue generation, one of the key weaknesses of the Philippines’ credit profile. The relatively moderate year-to-date fiscal deficit also suggests that a degree of spending restraint in the run-up to the midterm elections held last month and that the government’s spending decisions are increasingly driven by long-term economic objectives rather than short-term political ones,” said Moody’s senior analyst Christian de Guzman. Business ( Article MRec ), pagematch: 1, sectionmatch: Read More …

Re-emergence of traditional security threats worries Defense chief

News

Jun 032013

Re-emergence of traditional security threats worries Defense chief

By Frances MangosingINQUIRER.net 5:55 pm | Monday, June 3rd, 2013 Defense Secretary Voltaire Gazmin. FILE PHOTO MANILA, Philippines – Territorial disputes, among other traditional security concerns, remain high as it re-emerges in the regional security agenda, Defense Secretary Voltaire Gazmin said. Gazmin made the statement on Sunday during his speech at the 12th International Institute for Strategic Studies at the Shangri-la Dialogue held in Singapore. The annual security forum was attended by defense ministers, military chiefs and top defense analysts from 27 countries. “Traditional security concerns, including territorial disputes, issues surrounding the Korean Peninsula, military modernization and arms race, and proliferation of weapons, remain high in the regional security agenda,” Gazmin said, but did not make mention of China, which is locked in a territorial dispute with the Philippines over the hotly-contested West Philippine Sea. The defense chief said that these sensitive issues “placed in the backburner” in the past have “re-emerged to take center stage,” and would be solved if states involved would settle these issues “through mechanisms provided by international law.” “This dispels notions that these issues have become irrelevant in the 21st century with the emergence of non-traditional security challenges,” he said. “Given this, while sensitive issues will not be resolved overnight, it would be timely for states to cooperate in finding means to achieve long-lasting regional stability through mechanisms provided by international law, with the hope of settling these issues with a sense of finality,” he added. At the same time, Gazmin also recognized maritime security, Read More …

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