PHL's biggest wind farm to be completed by November –EDC
Support: the Federal Government System of the Philippines
The Department of National Defense (DND) has finally earmarked ₱18 billion for two brand-new frigates for the Philippine Navy and opened the bidding for the ships aimed to boost military modernization.. Readmore...
China said last week it had begun "combat-ready" patrols in waters it said were under its control in the South China Sea, after saying it "vehemently opposed" a Vietnamese law asserting sovereignty over the Paracel and Spratly islands. Readmore..
The book "Breakout Nations: In Pursuit of the Next Economic Miracles," written by Ruchir Sharma, assessed the Philippines as one of the strongest emerging economies in the future where enhanced economic activities are to take place. "Now at long last, the Philippines looks poised to resume a period of strong growth. Readmore...
China TV Claimed Philippine is a China Territory activities are violations of the UNLCOS and China is violating the International Law of Sea. Beijing said its position on the South China Sea is consistent and clear-cut and is in accordance with the international law Readmore...
Philippines is now in Full investment grade level from all credit ratings Moodys, Fitch, Standard and Poor, JICA of Japan Investment.. Readmore...
For 333 years Spain controlled the Philippines and shipped tons of gold of the country to the Mainland Spain. Poor infrastructure, low education, corruption, killings, slavery and Readmore...
With the continues spar in the West Philippines Sea, CHINA Spying the Philippines using Apps of IOS and Android named We Chat BEWARE Pinoys Readmore...
Do you know that iPhone and iPads are made in China? Codes will give you a hint where the products are made. Buying made in China will not just help the communist to invade the world but also, you would lose a lot for their low quality and sub standard products.. learn the code here Readmore...
In a historic bilateral meeting held in Moscow on Tuesday, Foreign Affairs Secretary Albert del Rosario and Russian Foreign Minister Sergey Lavrov agreed to further improve relations between the two countries, Readmore...
The United Nations has approved the Philippines' territorial claim to Benham Rise, an undersea landmass in the Pacific Ocean potentially rich in mineral and natural gas deposits, Environment Secretary Ramon Paje said Readmore...
Standard and Poor upgraded the Philippine Credit rating to Stable or Positve Outlook. The long term foreign currency denominated debt was raised one level SP said in a statement Readmore...
A Rotting of million dollars worth of world famous Philippines Banana in the Farms in Davao will end so soon after USA Government gives a go signal to import Philippines banana and export potatoes to the Philippines Readmore...
An executive from a Korean electronics company operating in Dongguan, Guangdong province, China said his firm recently built a plant in the Philippines. His and other companies working in China are apparently considering an exodus from China Readmore...
The Philippines needs up to four squadrons (48) of upgraded Lockheed Martin F-16 fighter jets, more well-armed frigates and corvette-size, fast to surface combatant vessels and minesweepers and four to six mini submarines, possibly obtained from Russia Readmore...
Yahoo Southeast Asia Newsroom - CNN arrives in the Philippines. - Image: manilastandardtoday.com
It started out as a joke. Nine Media Corporation chairman Antonio Cabangon-Chua and his friends bantered about bringing CNN to the country. Then they realized it could be done.
That eventually led to Tuesday’s official announcement of the rebranding of the former ambassador to Laos’ 9TV, formerly Solar News, to CNN Philippines—the result of 1 year and 4 months of negotiation with CNN International (CNNI).
No, the latter is not investing money in Nine Media Corporation; after all, foreigners can’t invest in media properties in the country. It is the Filipino company that’s paying CNNI every month. How much, Cabangon-Chua didn’t want to disclose.
“This is not all about money in the business sense anymore,” he said. “I’m already 80. I want to leave a legacy.”
So what’s going to change?
Kayen Zialcita, the local company’s senior vice president for brand development and marketing, summed it up: “The look and feel of the channel, the way we gather news, the way we report the news… those are all going to change.”
She added, “Everything will have to change because we have to live up to the standard of CNN.”
Thus, Filipino journalists will receive extensive training from CNN here and abroad.
CNN arrives in the Philippines. - Image: philstar.com
That CNN agreed to the five-year partnership means that the two organizations’ vision, mission, and values are aligned, CNNI senior vice president Ellana Lee confirmed.
They only have a few partnerships, and CNN Philippines is the newest addition to their small family that includes those in Indonesia, Chile, India, Turkey, and Japan.
“We have to look at the type of company that we partner up with,” Lee explained. “They [Nine Media] bring a lot of the same values that we look for in terms of covering the news and where they want to take the news specifically in the Philippines.”
In exchange, CNN will have the opportunity to reach in to the Philippine market, as their local partner is on free TV besides being available 24 hours on cable and pay television —unlike CNN’s other partnerships.
A win-win situation, according to representatives of the two organizations.
CNN Philippines will operate from studio facilities in Metro Manila and will replace 9TV on the RPN network nationwide. It will deliver content from CNN’s affiliates, including the one in the United States. Feature programming and newscasts will be distinct.
“It’s a combination,” Zialcita said. “Otherwise, there will be no difference from the cable TV channel.”
“But again, this is not a one-way business,” CNNI VP for content sales and partnerships Greg Beitchman stated. “You’ll see stories made globally for the local market, but we will also broadcast the best news in the Philippines that can be offered internationally.”
This development should provide competition in an industry dominated by two TV networks: ABS-CBN, which has the ANC 24-hour news channel, and GMA-7, which has GMA News TV, a channel that broadcasts the whole day as well, albeit on free TV.
“We have 34 years of strong knowhow, so we will shake up the [Philippine] landscape,” Beitchman said.
He added, “It will be quite challenging but fun. Competition is good; it will make us all better, and hopefully, it will also improve Filipino journalism.”
Expect CNN Philippines to be available first quarter of 2015 on free-to-air TV in Manila RPN-TV9, Cebu RPN-TV9, Davao RPN-TV9, Zamboanga RPN-TV5, Baguio RPN-TV12, and Bacolod RPN-TV8.
It will likewise be on cable TV through Sky Channel 14 (Metro Manila), Sky Cable Channel 6 (Cebu, Davao, Bacolod, Iloilo, and Baguio), Destiny Cable Channel 14, Cablelink Channel 14, and Cignal Channel 10. - Yahoo News Philippines
Image from: Asean Community 2015 Facebook Page
AEC 2015 group: https://www.facebook.com/groups/ASEAN2015.Beyond/
AEC 2015 Fb page: https://www.facebook.com/Asean.Community.2015.and.beyond
The integration would require more commercial and residential infrastructure for highly urbanized cities within the region, including key cities of the Philippines
MANILA, PHILIPPINES – The Philippine real estate industry is expected to grow further next year as the upcoming Association of South East Asian Nations (ASEAN) economic integration continues to attract foreign investors and with the region’s increasing role in the global economy.
The ASEAN integration in 2015 will change the economic landscape of the whole region, particularly the real estate market, Noel Cariño, president of Chamber of Real Estate and Builders Association (CREBA) said in a statement.
“The demand for residential spaces adjacent to malls, retail complexes, and other recreational spaces would go up and will likely increase the already healthy real estate market,” Cariño explains.
More commercial and residential infrastructure for highly urbanized cities within the region including key cities of the Philippines would be needed as the integration sets in.
“Residential, commercial, and retail developers, which will be exposed to international market, will expand their operations and acquire properties inside and outside the country, while foreign investors and corporate executives with local operations in the country will look for residential spaces for a place to stay,” Cariño added.
Makati City, Metro Manila, Philippines
To reap the benefits of the ASEAN integration, the country must continue to pursue relevant market reforms in order to remain competitive.
“Foreign ownership restrictions enshrined in the Philippine constitution will hinder the growth of foreign direct investments, so we need to continue to improve the business environment in the country in order to attract more investors,” Charlie Gorayeb, national chairman of CREBA pointed out.
CREBA is pushing for the passage of a bill that will consolidate the function and powers of major housing and urban agencies of the government to address effectively the needs of both consumers and developers.
CREBA also aims to sustain a centralized home financing program for the country to address the current housing backlog and supply the housing demand of the growing middle class within the next 20 years.
With the upcoming ASEAN integration, property players “should work together to unlock strategic approaches to keep the domestic property sector afloat” as multinational players enter the already stiff competition in the country’s real estate market, according to the organizers of the convention, CREBA said in a statement.
Meanwhile, Iloilo will host host CREBA’s 23rd National Convention on October 15 to 18. Senator JV Ejercito, who chairs the senate committee on urban development, housing and resettlement, is set to deliver a keynote speech on the legislative agenda of the real estate industry in the 16th congress. –Rappler.com
BOUNCING BACK. The coconut products’ performance bounced back from a 2-month volume shipment slump in June and July this year. Outward shipment of coconut products grew by a hefty 124%, likewise benefitting from higher international prices during the period. Photo by investphilippines.org
The Philippines now places 3rd highest exports performer in East and Southeast Asia
MANILA, Philippines – Maintaining its position among the top performers in East and Southeast Asia, the country’s top exports continued their double-digit growth at 10.5% in August, the National Economic and Development Authority (NEDA) reported on Friday, October 10.
Total export receipts totaled $5.5 billion during the period, up from US$5.0 billion in August 2013 due to stronger outward sales of manufactured products, total agro-based, and mineral products, The Philippine Statistics Authority (PSA) said.
Total exports also increased by 9.2% to $40.7 billion for the first 8 months of 2014, from $7.3 billion in the same period in 2013.
The Philippines now places 3rd as the highest exports performer in East and Southeast Asia, following Vietnam at 12.6% and Indonesia at 10.6%.
“Manufactures remained as the major contributor to exports growth, reflecting the positive developments in the global manufacturing sector,” NEDA deputy director-general and currently officer-in-charge Emmanuel F. Esguerra said.
Exports in July 2014 showed receipts reaching $5.46 billion that month, up 12.4% from $4.86 billion in July 2013. The growth was faster than the 2.8% rise recorded last year, but slower than the 21.3% jump in June.
Export earnings from manufactured goods reached $4.4 billion, up by 8.4% from $4.1 billion registered in August 2013, PSA said.
The manufacturing sector's performance was mainly due to increased outbound sales in diverse commodities. Electronic products remain on top of the list, with their total sales receipts reaching $2.3 billion in August 2014, higher by 10% versus $2.1 billion in August 2013, Esguerra noted.
Higher production indices of intermediate and capital goods, including higher net sales indices both in terms of volume (5.6%) and value (3.3%) in August 2014 were also noted, the PSA’s Monthly Integrated Survey of Selected Industries (MISSI) report said.
The PSA MISSI report shows that the manufacturing sector is moving toward more diversification and there is a continued strong local demand for manufactured goods and improvement in export demand.
“In fact, the fast approaching holiday season is also expected to beef up the sector’s production, as we anticipate an increase in demand from both the local and external consumers,” Esguerra said.
Coconut products bounced back
Apart from manufactured products, total agro-based products also sustained their robust growth in August 2014, with their export value hitting $505.2 million, or up by 41% from $358.4 million in the same period last year.
The coconut products’ performance also bounced back from a 2-month volume shipment slump in June and July this year. Accounting for 53.2% of total agro-based exports, outward shipment of coconut products grew by a hefty 124%, likewise benefitting from higher international prices during the period, Esguerra said.
Meanwhile, revenues from mineral products also grew by 30.9%, mainly due to increased shipment of iron ore agglomerates, copper metal, chromium ore, and other mineral products. This is also largely due to higher demand from the People’s Republic of China (PR China), Hong Kong, and South Korea.
Petroleum and forest products though registered lower revenue performances.
Japan remains as top export market
Japan remains as the country’s top export market with a total value of $1 billion, accounting for 19.1% of our total revenues from merchandise exports during the period. This is followed by the People’s Republic of China with a 15% share and the US with 14.6%.
Shipment to the members of the Association of Southeast Asian Nations (ASEAN) account for 14.1% of the country’s total exports while the European Union (EU) covered 12.7%.
Esguerra noted exports’ double-digit growth remains healthy and is likely to be sustained, primarily anchored on increasing global demand alongside business expansions and new product launches for garments and information technology sectors, including improved availability of raw materials and agricultural products.
“Moving forward, export revenue growth is likely to be driven by the rebound in the export of electronic products, machinery, and transport and other electronics,” Esguerra said. – Rappler.com
In this March 30, 2014, file photo, Philippine Marines raise the Philippine flag on the first day of their deployment on the dilapidated navy ship LT57 BRP Sierra Madre at the disputed Second Thomas Shoal, locally known as Ayungin Shoal, off the West Philippine Sea. The Philippines on Monday, Aug. 18, slammed what it called China’s “illegitimate sovereignty patrols” of Philippine waters, following President Aquino’s revelation that two Chinese research vessels had been spotted on oil-rich Recto Bank in the West Philippine Sea. AP FILE PHOTO
MANILA, Philippines–Malacañang said Saturday it has shelved planned improvements on a military airstrip in the disputed South China Sea to support its bid for a UN ruling against Beijing over the tense territorial row.
The Philippines infuriated China in March by asking a United Nations tribunal to declare Beijing’s territorial claims in the South China Sea a violation of international law.
China claims almost all of the sea, a vital avenue for world trade that is also believed to harbor vast oil and gas reserves.
But its claims overlap in parts with those of the Philippines, as well as Brunei, Malaysia, Vietnam and Taiwan.
President Benigno Aquino’s spokeswoman Abigail Valte said the government had suspended long-planned upgrade work on a military runway in the disputed Spratly islands to boost chances of a favorable ruling at the UN.
“We wanted to maintain the moral high ground in light of the case we filed at the (UN) arbitration tribunal regarding the West Philippine Sea,” Valte said, using the Filipino name for the area.
“We chose… to ease tensions and avoid any incident that may be construed as ramping up tensions or trying to provoke any of the claimant countries,” Valte said over government radio on Saturday.
The small runway lies on Thitu, the largest of several islands and reefs in the Spratly group that are garrisoned by Filipino soldiers but also claimed by China.
The runway is used mainly by military aircraft to resupply the Filipino troops guarding the island and nearby rocks, as well as a small community of Filipino civilians living on Thitu.
The upgrade plans were suspended by Aquino “sometime in the middle of 2014″, Valte said.
The airstrip project, as well as acquisitions of navy vessels, were part of Aquino’s efforts to upgrade the capability of the Philippine military, one of the most poorly equipped in the region.
China has refused to take part in UN arbitration with the Philippines, and warned Manila that bilateral ties will suffer.
The two countries have been involved in several tense confrontations in the South China Sea in recent months.
Valte dismissed suggestions that suspending the airstrip project would allow China to ramp up its increasingly assertive efforts to stake its claims in the South China Sea.
“In our view, it will not weaken our position,” she added. - Inquirer
MANILA—When a bakery shut down in a prime location in central Manila earlier this year, there was little doubt that a convenience store would open in its place.
Chains such as 7-Eleven, Mini Stop and FamilyMart are spreading over the capital and other cities in the Philippines—where people have typically shopped at basic neighborhood stores—as retailers bet on a largely untapped market with fast-rising disposable incomes.
"If we look at markets in Southeast Asia, the Philippines is the biggest opportunity," said Stuart Jamieson, managing director in the Philippines for market-research company Nielsen.
In terms of convenience stores per capita, the Philippines has a fraction of most other East Asian markets. As of 2012, the country had one for roughly every 41,000 people, Nielsen's latest figures show. South Korea has roughly one store for every 2,000 people. The figure is similar in Taiwan, where 7-Eleven's mascot even starred in his own musical.
The spike in interest in the Philippines is dramatic. Mini Stop and 7-Eleven were the only two convenience store chains in the country 18 months ago. Now there are seven, and most have aggressive expansion plans that will see the number of stores nationwide double from around 2,000 today to 4,000 within four years.
The boom—in retail generally, but in convenience stores in particular—is being driven by the increasing wealth of urban Filipinos. According to the World Bank, gross national income per capita totaled $3,270 in 2013, up from $2,480 in 2009, and almost treble the amount in 2003.
It is also being driven by changing working practices. The country's thriving outsourcing sector employs one million people, many of whom draw good salaries fielding calls from American and European clients at all hours of the day and night. This makes them ideal for the 24-hour convenience-store model.
The new chains also offer a clean, consistent and air-conditioned alternative to the traditional street-side shops that Filipino shoppers still rely on in many parts of the country.
As anticipated, the former bakery in Manila's central business district is now a FamilyMart, a Japanese-owned chain that began opening stores in the Philippines last year. Unlike India, the Philippines welcomes foreign investment in its retail sector.
Inside the new FamilyMart, many lunchtime customers appeared most excited about the self-service ice cream dispenser, paying 25 pesos ($0.55) to balance as much ice cream as possible on top of a small cone. Some stayed in the air-conditioned store to eat. Like many Asian convenience stores, there was a seating area. Otherwise, convenience stores here look similar to others around the world.
FamilyMart's general manager in the Philippines, Eduardo Paredes Jr. , said the company plans to have 500 stores in the country by 2018, up from 130 by the end of this year. "It's a numbers game—you need a few hundred stores to become profitable."
To accelerate growth, the company will begin franchising by the end of September, Mr. Paredes said. Like most operators in the Philippines, FamilyMart combines franchising with direct management. Mini Stop and 7-Eleven, the two entrenched players, are responding with plans for hundreds of new stores.
Indonesian chain Alfamart has a partnership with SM Group, one of the Philippines' biggest conglomerates. This will enable it to draw on SM's local savvy and gain exclusive access to its properties, including nationwide shopping malls, Mr. Jamieson said.
Eduardo Paredes Jr., general manager of FamilyMart in the Philippines, at the chain's newest Manila outlet, on Sept. 16. Trefor Moss/The Wall Street Journal
It isn't unique in this approach. Japanese chain Lawson's will open its first store later this year after a tie-up with retailer Puregold. FamilyMart owes its prime spots in central Manila to its partnership with Ayala Corp. , another powerful conglomerate and real-estate developer.
"Location is the primary factor, but smart operators will also have to differentiate," said Mr. Jamieson.
Alfamart would stand out by positioning itself as a "minimart," said Corazon Guidote, senior vice president at SM Investments Corp. SM.PH -0.06% , a unit of SM Group. She said it would sell staple food and ready-to-cook items.
Other newcomers, U.S. chain Circle K and the locally owned All Day—both of which began opening stores only recently—could be successful because of the sheer scale of the demand, Mr. Jamieson said. Given the number of new players piling into the Philippines, convenience chains could end up merging as the market consolidates, he added.
Mr. Parades looked out from the new FamilyMart in Makati. "There is a 7-Eleven over there, and a Mini Stop on the other corner," he said. "In the future, Manila will be saturated. But there are so many cities elsewhere."