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Growth to remain below target — BMI

By Melissa Luz T. Lopez Senior Reporter BMI RESEARCH has raised its growth forecast for the Philippines, but still expects that the pace will log below the government’s full-year goal amid softer private investments and tighter financial conditions. The Fitch unit now sees 2018 gross domestic product (GDP) growth at 6.5%, faster than their previous […] The post Growth to remain below target — BMI appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineMay 17th, 2018

IMF sees 2017 PHL growth on target

THE INTERNATIONAL Monetary Fund (IMF) expects the Philippines to remain among Asia’s growth leaders in 2017 on the back of increased public spending and a recovery in exports, its country official said, even as he stressed the need to legislate tax reforms to support the government’s aggressive fiscal plans......»»

Category: newsSource:  bworldonlineRelated NewsJan 16th, 2017

Front Page: IMF sees 2017 PHL growth on target

THE INTERNATIONAL Monetary Fund (IMF) expects the Philippines to remain among Asia's growth leaders in 2017 on the back of increased public spending and a recovery in exports, its country official said, even as he stressed the need to legislate tax reforms to support the government's aggressive fiscal plans......»»

Category: financeSource:  bworldonlineRelated NewsJan 16th, 2017

Barclays ‘positive’ on PH growth

CLARK FREEPORT ZONE: Philippine economic growth is expected to stay strong this year but slow somewhat from 2017, British investment bank Barclays said, with above-target inflation a challenge to continued expansion. “We have been positive on the growth outlook of the Philippines for quite some time. We are forecasting close to 6.5 percent growth for [...] The post Barclays ‘positive’ on PH growth appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated News14 hr. 56 min. ago

Mark Cuban donates $10M after Mavericks workplace probe

NBA press release The NBA today issued the following statement about the report by independent investigators regarding workplace conditions at the Dallas Mavericks, following allegations made in a Feb. 20, 2018 Sports Illustrated article: Upon learning of the allegations, Dallas Mavericks owner Mark Cuban notified the NBA and an independent investigation was launched with oversight from the league office. Anne Milgram, former Attorney General of New Jersey, a Professor of Practice and Distinguished Scholar at New York University School of Law, and currently Special Counsel at Lowenstein Sandler LLP, and Evan Krutoy, who spent more than 20 years as a prosecutor in the Manhattan District Attorney’s office and currently heads Krutoy Law, P.C., led the seven-month investigation. The league’s oversight function was led by David Anders, a partner at Wachtell, Lipton, Rosen & Katz and a former Assistant U.S. Attorney for the Southern District of New York. The report was based on information gathered from 215 interviews with current and former Mavericks employees who worked for the team during the past two decades and from the evaluation of more than 1.6 million documents, including emails and other electronic documents. Following the launch of the independent investigation, the Mavericks, under Mr. Cuban’s direction, hired a new Chief Executive Officer, Cynthia Marshall, a former AT&T senior executive, who has since implemented a massive overhaul to improve the organization’s workplace culture. While the investigation was ongoing, Mr. Cuban and Ms. Marshall took a series of steps to enhance the team’s workplace policies and procedures. Under Ms. Marshall’s direction, the Mavericks have replaced or added several new leadership positions in the organization, including a new head of Human Resources, a Chief Ethics and Compliance Officer, a head of Diversity & Inclusion and a new General Counsel. The Mavericks also instituted mandatory “Respect in the Workplace” training for all employees and ownership; created a confidential hotline for employees to share concerns, issues or allegations of misconduct; and established employee resource teams and an external advisory council to ensure a more diverse and collaborative work environment. Ms. Milgram’s and Mr. Krutoy’s extensive investigation, with full cooperation from Mr. Cuban and the Mavericks organization, resulted in a detailed understanding of the scope and substance of the issues. Among the investigation’s key findings: - The investigation substantiated numerous instances of sexual harassment and other improper workplace conduct within the Mavericks organization over a period spanning more than twenty years. - Among other things, the investigation found:     - Improper workplace conduct toward fifteen female employees by the Mavericks’ former President and CEO Terdema Ussery, including inappropriate comments, touching, and forcible kissing;     - Improper workplace conduct by former Mavericks ticket sales employee Chris Hyde, including inappropriate comments to women of a sexual nature, the viewing and sharing of pornographic images and videos, unsolicited and unwanted sexual advances, and violent and threatening outbursts toward co-workers; and     - Two acts of domestic violence perpetrated by former Mavs.com reporter Earl Sneed, including one against a team employee. - The investigators concluded that Mavericks’ management was ineffective, including a lack of compliance and internal controls, and that these shortcomings permitted the growth of an environment in which acts of misconduct and the individuals who committed them could flourish.  In particular, the investigators found:         - The Mavericks executive leadership team failed to respond adequately and committed a significant error in judgment by retaining Mr. Sneed following his domestic violence incidents; and         - The Mavericks’ executive leadership team was responsible for allowing Mr. Hyde to remain employed with the organization despite his inappropriate and problematic behavior, and failed adequately to address his various acts of misconduct.         - The investigators found no evidence that Mr. Cuban was aware of Mr. Ussery’s misconduct.  None of the 215 witnesses who were interviewed stated that they informed Mr. Cuban of Mr. Ussery’s actions, the investigators found no documentary evidence of such a communication, and Mr. Cuban stated that he did not know about the conduct.   The investigation report also contains a series of recommendations for changes to the Mavericks’ organization, including:     - Increasing the number of women on staff, including in leadership positions;     - Enhancing formal reporting processes for victims of misconduct;     - Implementing regular anonymous employee surveys to evaluate workplace culture; and     - Expanding and improving the Mavericks’ Human Resources department and instituting clear protocols for investigating workplace misconduct. The report confirms that several of these steps have already been taken, including the hiring of Ms. Marshall and other new senior female leaders, and notes that “we heard from employees of a sea change in the professional environment at the Mavericks that began almost immediately following” the publication of the Sports Illustrated article. In recognition of the institutional and other failures set forth in the report, Mr. Cuban has agreed to contribute $10 million to organizations that are committed to supporting the leadership and development of women in the sports industry and combating domestic violence.  These organizations will be selected by an advisory council of leaders from the Mavericks, including Mr. Cuban and Ms. Marshall, and the NBA, including President of Social Responsibility & Player Programs Kathy Behrens, President of Team Marketing & Business Operations and Chief Innovation Officer Amy Brooks, and Chief Diversity & Inclusion Officer Oris Stuart. Additionally, the NBA is requiring the Mavericks to:         - Provide the league office with quarterly reports regarding the recommendations set forth in the report and their implementation;         - Immediately report to the league office any instances or allegations of significant misconduct by any employee;         - Continually enhance and update annual “Respect in the Workplace” training for all staff, including ownership; and         - Implement a program to train all staff, including ownership, on issues related to domestic violence, sexual assault, and sexual harassment. “The findings of the independent investigation are disturbing and heartbreaking and no employee in the NBA, or any workplace for that matter, should be subject to the type of working environment described in the report,” said NBA Commissioner Adam Silver. “We appreciate that Mark Cuban reacted swiftly, thoroughly and transparently to the allegations first set forth in Sports Illustrated – including the immediate hiring of Cynthia Marshall as CEO to effect change, but as Mark has acknowledged, he is ultimately responsible for the culture and conduct of his employees. While nothing will undo the harm caused by a select few former employees of the Mavericks, the workplace reforms and the $10 million that Mark has agreed to contribute are important steps toward rectifying this past behavior and shining a light on a pervasive societal failing -- the inability of too many organizations to provide a safe and welcoming workplace for women.” Following the allegations made in the Sports Illustrated article, the NBA conducted a thorough review of its existing policies and procedures related to respect in the workplace, and required all NBA teams to do the same. In addition, the league established a confidential leaguewide hotline for team and league employees to report workplace misconduct including, but not limited to, sexual harassment, discrimination and retaliation.  While many of the recommendations contained in the investigation report are already part of established practice at the league office, any that are not will shortly be adopted. The report of the independent investigation is available here......»»

Category: sportsSource:  abscbnRelated News18 hr. 31 min. ago

Hitting 2018 growth goal now less likely

Prevailing high consumer prices would make it more difficult to achieve the government's economic growth target of 7-8 percent for this year, the country's chief economist said. Asked by.....»»

Category: newsSource:  philippinetimesRelated NewsSep 11th, 2018

Inflation forecasts hiked, legislative measures urged

Banking giant HSBC has raised its 2018-2019 inflation forecasts for the Philippines following August’s nine-year high, accompanying this with a warning that monetary policy tightening was not enough to mitigate above-target consumer price growth. Legislative action, it said in a report released on Thursday, is “necessary” and the government should also consider temporary subsidies after [...] The post Inflation forecasts hiked, legislative measures urged appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsSep 6th, 2018

British firms still keen on investing in the Philippines

British investors remain optimistic about the country's growth prospect in spite of accelerating inflation and tempered GDP growth, as they look forward to the fruits of this administration�.....»»

Category: newsSource:  manilanewsRelated NewsSep 6th, 2018

Former Brazil great Ronaldo takes over Spanish club

By TALES AZZONI,  AP Sports Writer MADRID (AP) — Former Brazil great Ronaldo took over Monday as the majority stakeholder in recently promoted Spanish club Valladolid, saying he is bringing his soccer expertise to help the team succeed. Ronaldo now owns 51 percent of the shares of the club. He will preside over the board of directors while Carlos Suarez will remain club president, a job he held before Ronaldo's arrival. "I'm really excited," Ronaldo said at Valladolid's city hall. "My entire life has been about football and this is another great challenge for me, a very big one." The former Brazil striker said "transparency" and "competitiveness" will be part of the basis of his management. Financial details were not immediately available, but local media said the operation was worth about 30 million euros ($35 million). "I'll try to put all my soccer knowledge at the players' disposal and will try to manage the club efficiently," he said. "I want the club and the city to grow." Valladolid, which is based in a city of about 300,000 people, is playing in Spain's top division for the 41st time in its 90-year history. It last played in the top league in 2013-14. Suarez said the deal with Ronaldo will "put Valladolid on the map." "This is an important step for the growth of the club," the club president said. Ronaldo, who played at Barcelona and Real Madrid during his career, won World Cups with Brazil in 1994 and 2002. He became a successful businessman after retiring, owning companies and managing players. He said he will be fully committed to his new project. "What do you think? That I'll buy a club and then go on vacation?" Ronaldo said. "There's a lot of work to do, you have to stay close. I'll be as committed as possible, but there is a management team in place and I'm very happy with it." He said there's a lot to handle after "hasty" negotiations to finalize the club's take over. Ronaldo and the club were in talks during the offseason and the agreement reportedly wasn't completed until last week. "Little by little we will plan everything so this club can aspire to great things and grow as much as possible," he said. "This city and this club have a lot of potential." Valladolid opened with a 0-0 draw at Girona, lost to defending champion Barcelona 1-0 and drew 0-0 at Getafe. It's next game is against Alaves. "From now on we will focus on planning for the future, prioritizing the team," Ronaldo said. "It's crucial that we keep gaining points so we can remain in the top.".....»»

Category: sportsSource:  abscbnRelated NewsSep 4th, 2018

Economic growth expected to fall short of target

OVERALL economic growth will likely fall short of the official target this year, according to the country’s Finance chief and a financial and investment advisor, partly due to quickening inflation even as infrastructure development should pick up steam. The post Economic growth expected to fall short of target appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 3rd, 2018

Gov t likely to miss economic growth target in 2018 — Dominguez

"I think we will still be close to 6.8 percent this year.".....»»

Category: financeSource:  philstarRelated NewsSep 3rd, 2018

Economy likely to pick up but Q3 ‘may remain tepid’

FMIC, UA&P see July-Sept growth of ‘6.5% or less’; another 25-bps hike Economic growth will accelerate in the last six months of the year following a second quarter slowdown, an investment bank and an academic institution said, with support coming from government spending and increased dollar remittances due to a weaker peso. In the August [...] The post Economy likely to pick up but Q3 ‘may remain tepid’ appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsAug 30th, 2018

Subdued growth seen in third quarter of 2018 as inflation remains elevated

Economic expansion in the third quarter of the year may remain moderate unless inflationary pressures ease and exports recover, according to a joint report by First Metro Investment Corp. and University of Asia and the Pacific......»»

Category: financeSource:  philstarRelated NewsAug 29th, 2018

FMIC, UA& P see faster economic growth this semester

ECONOMIC GROWTH can be expected to pick up this semester, though it may be nowhere near the 7.7% needed for gross domestic product (GDP) to hit the lower end of the government’s 7-8% full-year target, according to the latest joint assessment of First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P). The post FMIC, UA&P see faster economic growth this semester appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 29th, 2018

Philippine GDP growth not seriously impacted by rate hikes

MANILA – Recent Philippine interest rate hikes will not have a serious impact on the economy, the finance minister said on Tuesday, allowing the government to keep its 2018 growth target of 7-8 percent for now. The current policy rates are “totally appropriate”, Finance Secretary Carlos Dominguez told a journalists’ forum, adding that they are […].....»»

Category: newsSource:  interaksyonRelated NewsAug 29th, 2018

FMIC, UA& P: Growth may remain tepid in Q3 amid inflation, weak exports

Economic growth in the third quarter may remain “tepid” unless inflation cools down and exports begin to rise, according to a report released in August, adding that the central bank may still hike policy rates to temper rising prices of key consumer items......»»

Category: financeSource:  philstarRelated NewsAug 29th, 2018

Economic managers not keen on revising growth projections

Despite raising interest rates, economic managers see no need to revise growth targets in the medium term as the domestic economy is expected to remain resilient to further policy tightening......»»

Category: financeSource:  philstarRelated NewsAug 28th, 2018

Dominguez: Recent rate hikes won t have serious impact on economy

The Bangko Sentral ng Pilipinas’ back-to-back rate hikes to fight inflation won’t have a significant impact on the economy, the country’s finance chief said Tuesday, giving the economic managers enough room to keep its 2018 growth target for the time being......»»

Category: financeSource:  philstarRelated NewsAug 28th, 2018

S& P: Train impact easing but inflation to remain high

The inflationary impact of recent tax reforms is starting to ease but global oil prices and recent weather disturbances will keep Philippine consumer price growth elevated in the next few months, S&P Global Ratings said. “Regarding inflation, the one-off effects of the tax reform are probably starting to dissipate,” the credit ratings agency said in [...] The post S&P: Train impact easing but inflation to remain high appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsAug 28th, 2018

GDP growth to miss goal, but not ‘bad’

PHILIPPINE economic growth will likely fall short of the government’s 7-8% target until next year, due to a sustained slowdown in exports and weak manufacturing, even as strong capital formation should help gross domestic product (GDP) expand in line with potentials, economists of the Ateneo de Manila University said in a briefing on Thursday. The post GDP growth to miss goal, but not ‘bad’ appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsAug 23rd, 2018

Sustaining a legacy of caring

Under the management of the Mount Grace Hospitals, Inc., the Fe del Mundo Medical Center continues its legacy of providing appropriate care to its target markets delivered by its compassionate professionals, keeping up with medical development and relevant technologies while partnering with organizations to assure sustained growth. Since 2013, the Mount Grace has been managing [...] The post Sustaining a legacy of caring appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsAug 18th, 2018