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Philippine infrastructure open to foreign companies though risks weigh -- BMI

FOREIGN FIRMS looking for good infrastructure deals will find the Philippines attractive, Fitch Group's BMI Research said in a note, even as it flagged operating and political risks as key dampers......»»

Category: newsSource: bworldonline bworldonlineAug 1st, 2017

PH eyeing other foreign telco players – Pernia

The country will open up its telecommunications sector not only to Chinese companies but also to other foreign investors, Socioeconomic Planning Secretary Ernesto Pernia said Saturday. “The best offer would be picked from other offers as well,” Pernia told reporters at the sidelines of the 2017 Philippine Association for Chinese Studies Conference in Pasig City, [...] The post PH eyeing other foreign telco players – Pernia appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsDec 2nd, 2017

LIBERALIZATION OF TELECOMS TO BRING HIGHER CHARGES

The Duterte administration’s call for “immediate steps to ease foreign investment limits” in the country “will only open up the Philippine economy to further foreign strangle and unjust control, particularly the basic and strategic industries, like telecommunications, infrastructure, health and media.".....»»

Category: newsSource:  kagay_anRelated NewsNov 27th, 2017

Construction market’s lure limited by risks

DESPITE favorable rules, the Philippine construction market’s attractiveness is being limited by operational and political risks, think tank BMI Research said on Tuesday. “The Philippines’ construction industry has among the most favorable regulatory frameworks for private and foreign investments in Asia, including robust PPP laws, and ambitious infrastructure initiatives,” the BMI said in a report. [...].....»»

Category: newsSource:  manilatimes_netRelated NewsAug 2nd, 2017

Marvel urges Filipino creatives to apply for jobs, send portfolios

  In an effort to look for local talents and reach out to its ever-growing Philippine fan base, Marvel staged the second Marvel Creative Day Out at the De La Salle College of St. Benilde, School of Design and Arts last Jan. 10. Marvel Comic's new editor-in-chief CB Cebulski and The Walt Disney Company's vice president for creatives in Greater China Allen Au-Yeung attended the event. The two executives shared insights about their companies and the industry, while extending a hand to budding creative minds in the audience. Cebulski personally gave away his company email and urged anyone with a portfolio to send it to cbcebulski@marvel.com. "I have an open inbox," said ...Keep on reading: Marvel urges Filipino creatives to apply for jobs, send portfolios.....»»

Category: newsSource:  inquirerRelated NewsJan 11th, 2018

Delayed infra projects seen despite Train – BMI

Despite being touted as a main beneficiary of revenues under the Tax Reform for Acceleration and Inclusion (Train) Act, the Philippine infrastructure sector may see project delays due to unresolved political risks and bureaucratic issues, think tank BMI Research said. Formally known as Republic Act 10963, Train lowered personal income taxes and raised excise taxes [...] The post Delayed infra projects seen despite Train – BMI appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 10th, 2018

Yuka, Bianca lead chase in PH Ladies Open

In-form Yuka Saso shoots for a second straight major championship while Bianca Pagdanganan seeks a repeat of her record feat as they lead the chase in the 2018 Champion Infinity Philippine Ladies Open beginning today at the Orchard Golf and Country Club in Dasmariñas, Cavite. With a mix of talented foreign and other local players [...] The post Yuka, Bianca lead chase in PH Ladies Open appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 9th, 2018

Thais boost Philippine Ladies Open cast

MANILA, Philippines — Three top players from Thailand gear up for a three-day shootout with the cream of the country’s crop and a slew of other foreign aces.....»»

Category: sportsSource:  philstarRelated NewsJan 8th, 2018

Thais boost PH Ladies Open cast

Three scratch players from Thailand gear up for a three-day shootout with the cream of the country’s crop and a slew of other foreign aces in the 2018 Champion Infinity Philippine Ladies Open 2018 which reels off on Wednesday at the Orchard Golf and Country Club’s Palmer Course in Dasmariñas, Cavite. Onkanok Soisuwan, Kultida Pramphun [...] The post Thais boost PH Ladies Open cast appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 8th, 2018

Meneses returns to Generika-Ayala

Generika-Ayala tapped the services of middle blocker Ria Meneses and veteran setter April Hingpit as part of the Lifesavers' build up for the 2018 Philippine Superliga Grand Prix starting next month. Meneses will make a comeback for the Lifesavers, who have yet to name a replacement for head coach Francis Vicente, after her stint with Petron last year. The former University of Sto. Tomas player donned the Generika jersey back in 2016 before jumping to the Lady Blazers side the following season and helped Petron rule the All-Filipino Conference crown and runner-up finish behind F2 Logistics in the Grand Prix. “Riri (Meneses) is one of the league’s strongest middle blockers,” said Generika Drug Store COO Jay Ferrer in a statement. “At her young age, she has shown a lot of potential at her position and yet she can get even better,” Ferrer added. “She will surely help in providing stronger net defense to the team as well as produce the necessary points from the middle.” Meneses decided to forego her last UAAP playing year with University of Sto. Tomas. Hingpit, also released by Petron after the 2017 season, also found a new home in Generika-Ayala. The two are just some of the recruits the Lifesavers tapped to beef up their roster for the tournament that will open on February 17. Reinforcements Darlene Ramdin of Trinidad and Tobago and Croatian Katarina Pilepic inked a brand-new deal while Generika-Ayala remains on the hunt for a foreign libero to fill the void that would be created by the absence of Bia General and Kath Arado, who will be making a return to the UAAP......»»

Category: sportsSource:  abscbnRelated NewsJan 6th, 2018

Business leaders say economy ‘yet to run on all cylinders’

By Elijah Joseph C. Tubayan Reporter A STABLE ENVIRONMENT helped the economy rev up in 2017, and business groups now believe tax reform, further ease of doing business, lifting of foreign investment restrictions and increasing the pace of infrastructure development should help spur the country’s growth momentum further. The Philippine economy has kept its growth […] The post Business leaders say economy ‘yet to run on all cylinders’ appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsJan 1st, 2018

Letters From Davao by Jun Ledesma

‘It was a good year’ We have seen the litany of achievements of Duterte administration. It dwarfed the entire six years of the Aquino regime. It could have done better except that it has to first fix a lot of damages wrought by an inept regime that has likewise institutionalized corruption and abetted crime the most horrific of it all – the drug syndicates.  Space or brevity must have limited some significant achievements of the  Department of Finance and am referring to the upgrades of credit ratings of the Philippines from investment grade to investment grade and stable. While early on Standard & Poor’s claimed that President Duterte’s war on drugs and alleged extra-judicial killings are factors that account for the static rating by December 2017 it grudgingly acceded that something good is happening in the Philippines under Duterte’s watch.  Finance Sec. Sonny Dominguez and his team deserves the credit. Fitch and Moody’s in their “investment grade and stable” rating in December enunciated that the issues surrounding drugs and EJK have nothing to do with the rosy economy of the country and its image as capital investment destination. The country’s economic performance for one is top in Asia and there is no turning back with the expected massive spending on infrastructures and government services starting 2018 and beyond.  The Duterte government achievements scoreboard makes the moribund opposition drooling. Still on Finance, expect the billionaires who are also the country’s tax dodgers to cough up. TRAIN or the Tax Reform for Acceleration and Inclusion gives a huge relief to 99 percent of those small taxpayers saving the ar least P50,000.00 in tax cut!  But demands and exacts the reasonable taxes from the rich especially the filthy rich. Last year sampling of Lucio Tan (P6-billion), Mighty Cigarettes (P40-billion) and the Prieto and Rufinos’ one-mile asset that they are accountable to the government in still unquantifiable amount as yet? There is a subliminal message to be absorbed why candidate Rodrigo R. Duterte refused to accept donations from the rich and famous: just pay your taxes correctly and you’re okay.  The Bureau of Internal Revenue and the Bureau of Customs are churning more collections under a continuing reforms.  President Duterte himself did dramatic and radical transformations in the area of Foreign Affairs and security. He was chided and lectured on by self proclaimed experts in diplomacy and security alliances especially with the generous expletives he is famous for. But as he admitted to the point of being apologetic, he told media men in this year’s Christmas party, “but that is me”.  Duterte’s foray into foreign affairs and diplomacy might be severely lacking in refinements but he put across his message clearly and direct and one cannot quarrel with what he achieved in such a brief moment. He virtually altered the outlook of the western countries on small sovereign nations. He overhauled alliances by an unwritten rule of mutual respect and cognizance of sovereignty. While Aquino made enemies with China which is the world’s second largest economy resulting in unquantifiable losses of opportunities Duterte reversed that with the resumption of trade, financial assistance with cheap money interest, massive infrastructure projects that will come into fruition by 2018. World leaders to include Xi Jinping of China, Vladimir Putin of Russia, PM Shinzo Abe of Japan and, to the dismay of the so-called Yellowtards, US Pres. Donald Trump who became his virtual phone pal.  The Department of Agriculture under Sec. Manny Pinol, did exemplary well. Productivity is better than expected and could have performed better if not for the natural calamities that the country has to contend with. Maybe the Bureau of Fisheries under it may try something out of the box. Propose to China to convert that disputed island into a one big marine laboratory. China provides the infrastructures while the Philippines the technical aquatic expertise. Make a 10-mile no-fishing marine haven around the island and guarded by the joint coastguard forces of China, Philippines and Vietnam. The Philippine Coconut Authority under Cabinet Sec. Jun Evasco is about to embark on a massive replanting program.  The Aquino government allocated billions of pesos to fight ‘cocolisap’ infestation but applied the wrong solution. Well, what do we expect from a certain Kiko Pangilinan? The replanting program was a big failure on account of  massive graft in high and low places. Replanting as well as new areas had been programmed by PCA.  Finally we have to give accolade to our Armed Forces of the Philippines and the Philippine National Police for combating internal threats, terrorism and syndicated crime. The AFP and PNP are more prepared and better equipped now than any other time in history. Furthermore we see a disciplined forces in the AFP and while there are a few remaining scalawags in the PNP the cleansing process is done without let-up. We from Mindanao are comfortable and secured with their presence even under the aegis of martial law. If you do not believe me look at the various surveys on the popularity and trust of Filipinos on President Duterte and his government.  This will end my perspectives for year 2017 and we look forward to 2018 the Build, Build, Build era. The beginning of the new Philippines. Mindanao and Davao City, from where I live and write, may have suffered from natural calamities but we had seen, suffered and endured worse scenarios and even man made tragedies than […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsDec 29th, 2017

FULL TEXT: Del Rosario s open letter to leaders, allies of ASEAN

Below is the full text of former Philippine foreign secretary Albert del Rosario's open letter to leaders and allies of the Association of Southeast Asian Nations (ASEAN) ahead of the 31st ASEAN Summit and Related Summits from November 10 to 14, 2017. Del Rosario read this letter as his ........»»

Category: newsSource:  rapplerRelated NewsNov 10th, 2017

More Asean cross-border partnerships

  (First of three parts) Nearly half of CEOs in the Philippines are keen on expanding to overseas markets, riding on the opportunities offered by Southeast Asian economic integration even as low-hanging fruits abound locally. But instead of leaping into a new jungle as a lone wolf, finding a reliable native partner is becoming the preferred strategy, in the same way that some Philippine companies have teamed up with foreign investors on their home turf. Local expertise is invaluable, both from a business development and risk management standpoint. In the 2017 CEO survey conducted by PwC/Isla Lipana for the Management Association of the Philippines, 75 percent of the ...Keep on reading: More Asean cross-border partnerships.....»»

Category: newsSource:  inquirerRelated NewsNov 7th, 2017

Tale of 2 cities: Olympics sponsors in Pyeongchang and Tokyo

em>By Youkyung Lee and Mari Yamaguchi, Associated Press /em> SEOUL, South Korea (AP) — The Winter Olympics coming to South Korea in February offer an example of the Olympian efforts often required to meet corporate sponsorship goals. Tokyo tells a different story: The coffers are already overflowing for the 2020 Summer Games. It's a tale of two cities and two Olympics — winter and summer. Pyeongchang is a little-known destination in one of South Korea's poorest provinces. It is the 'little town that could,' bidding twice unsuccessfully for the Winter Olympics before winning on its third try. A final push enabled it to reach its sponsorship target of 940 billion won ($830 million) in September, with just five months to go. Tokyo is an established global capital, and the Summer Games usually generate more excitement — and more money. Organizers have raised 300 billion yen ($2.7 billion) in sponsorship, twice any previous Olympics. International Olympic Committee Vice President John Coates describes it as a remarkable achievement. The divergent experiences of two Asian host cities illustrate the challenges that smaller bidders face, as well as South Korea's dependence on the big family-owned companies that dominate its economy. Not that Tokyo is home-free. The cost of the 2020 Games has nearly doubled from initial projections. As with most Olympics, taxpayers will have to foot a good part of the bill. ___ strong>WHERE 'CHAEBOLS' RULE /strong> Starting with the 1988 Seoul Olympics, South Korea has used mega-events such as the soccer World Cup to raise the profile of the country and its manufacturing exporters. Pyeongchang is different. The project was initiated by local politicians in an area long alienated politically and economically in South Korea's rise to prosperity. Some feared people would confuse the city's name with Pyongyang, the North Korean capital. They couldn't count on the automatic support of the huge family-run conglomerates, known as 'chaebol,' such as Samsung, Hyundai and LG. 'When such mega-events were the nation-state's key project, the chaebol were called on and were expected to become the leading participants,' said Joo Yu-min, a professor at the National University of Singapore who co-authored a book on South Korea's use of mega-events. In the end, the national government brought the conglomerates in, first in the bid process, and then for sponsorship. That underscores both the outsized role they play in the economy and their close ties with government. They owe a debt to special treatment from the government, which in turn used them to industrialize the country after the devastating 1950-53 Korean War. After Pyeongchang's bid was rejected a second time, the government called on Samsung and others to help. The president even pardoned Lee Kun-hee, the patriarch of the Samsung founding family who had been an IOC member but voluntarily suspended his membership after being indicted for tax evasion. The IOC reinstated Lee in 2010 with a reprimand and some restrictions, allowing him to lobby heavily for what became Pyeongchang's winning bid in 2011. It took three years for the organizing committee to sign its first domestic sponsor, KT Corp., the country's second-largest mobile carrier. Again, the national government asked the conglomerates for help. All the major ones signed on, after the office of then-President Park Geun-hye made a special request and multichannel pressures for financial assistance, Joo said. Elsewhere, companies may weigh sponsorship decisions based more on the marketing benefits. 'In South Korea, companies make donations out of a sense of duty that they are being part of the national event,' said Park Dong Min, the executive director overseeing membership at the Korea Chamber of Commerce and Industry. Sponsors who signed up late weren't willing to give as much, because there was less time to enjoy the marketing benefits. A bank that signed on less than a year before the Games significantly reduced its sponsorship. To top it off, a massive sports-related political corruption scandal rocked South Korea in 2016, just when Pyeongchang was making last-ditch efforts to raise sponsorship. 'Companies showed some reluctance' to sponsor the Olympics, said Eom Chanwang, director of the Pyeongchang organizing committee marketing team. 'Nevertheless, they still joined.' The scandal brought down Park, the president. Lee Jae-yong, the heir to the Samsung group, received a five-year sentence for bribery. Lee, who has appealed, had become de facto chief of the Samsung group after his father Lee Kun-hee, the IOC member pardoned in late 2009, fell ill. It was the younger Lee who signed an agreement with IOC President Thomas Bach to extend Samsung Electronics' sponsorship of the Olympics globally through 2020. Samsung declined interviews for this story. With the scandal still fresh in people's minds, major companies have held back from launching full-fledged marketing to promote the Games. 'Samsung traditionally has done consumer marketing through the Olympics, but because its chief is in jail, it cannot do as much these days,' said Kim Do-kyun, a sports professor at Kyung Hee University Graduate School of Physical Education. The Pyeongchang Games were the biggest victim of the scandal, he said. ___ strong>SUMMER OF '64 /strong> The president of Japan's biggest toilet manufacturer was seven years old when the Olympics first came to Japan. TOTO Ltd. made news in 1964 for its prefabricated toilet-and-bath units that helped speed the construction of a luxury hotel, the New Otani, in time for the Games. The company, now known for high-tech toilets that baffle some foreign visitors, is back as a sponsor of Tokyo 2020. 'I feel our company and the Olympics have been bonded by fate,' TOTO president Madoka Kitamura said at a sponsorship signing ceremony at the same hotel last year. The $2.7 billion in sponsorship for Tokyo 2020 is more than three times the original estimate. By comparison, sponsorship revenue was $848 million in Rio de Janeiro last year, and about $1.2 billion for both London 2012 and Beijing 2008. The Winter Olympics typically attract less, though Sochi, Russia, raised $1.2 billion in 2014. Analysts attribute Tokyo's success to both patriotism and a sense of nostalgia for the 1964 Summer Games. They were much more than a sports contest for Japan. They were a moment of pride, marking the country's return as an industrial power after the devastation of World War II and a seven-year U.S. occupation. 'All of Japan still recognizes the unique role that the 1964 Olympics played in Japan's stepping out onto the world stage,' said Michael Payne, a former IOC marketing director who now works as a consultant. 'Many of the CEOs of top Japanese companies would have been young kids back in '64 and are very aware of the role those Games played for the psychological recovery from the Second World War.' They grew up with the high-speed 'Shinkansen' bullet train, inaugurated in 1964; modern expressways and western-style toilets, all symbols of Japan's postwar economic growth. 'Now they have become business leaders, they want to contribute and leave something behind that can be remembered for the next 50 years,' said Masahiko Sakamaki, executive director of marketing for the Tokyo organizing committee. He said that memories of the recovery may have boosted interest in sponsorship, as Japan was still reeling from a deadly 2011 earthquake and tsunami when Tokyo won the bid in 2013. Sakamaki said the organizing committee started receiving sponsorship inquiries as soon as it was established in 2014, before the official start of sponsorship contracts in 2015. There is so much interest that the IOC is allowing Tokyo to have multiple sponsors in some categories, instead of the usual one, including in aviation, newspaper publishing, electronics and banking. TOTO officials won't say how much they are contributing, but media reports say companies in its sponsorship category give between 6 billion and 15 billion yen ($53 million to $133.5 million). Tokyo 2020 wouldn't comment on those reports. 'We believe our presence as part of an all-Japan effort toward a successful Olympics will enhance our favorable brand image,' said Mariko Shibasaki, the company's senior planner for sports communication. Thanks in part to robust sponsorship revenue, the organizing committee has increased its contribution to the cost of the games from 500 billion to 600 billion yen ($5.3 billion). The sponsorship revenue makes up half of the income in the privately-run organizing committee's operating budget. Other revenue comes from the International Olympic Committee, marketing and ticket sales. The overall cost of the Tokyo Olympics is estimated at 1.4 trillion yen (12.4 billion) with the Tokyo government shouldering 600 billion yen ($5.3 billion) and the remaining 200 billion yen (1.8 billion) paid by the national government and local governments hosting events. ___ em>Yamaguchi reported from Tokyo. Associated Press writer Stephen Wade in Rio de Janeiro contributed to this story. /em> .....»»

Category: sportsSource:  abscbnRelated NewsOct 12th, 2017

Stocks close mixed as investors weigh SONA impact

Philippine shares closed mixed on Tuesday as investors took positions on both sides of the market to prepare to pick up companies poised to benefit from the Duterte administration’s economic policies and dump those bound to lag behind. The bellwether index firmed 0.11 percent or 9.08 points to finish at 7,971.72. The broader All Shares [...].....»»

Category: newsSource:  manilatimes_netRelated NewsJul 25th, 2017

Four foreign companies set to open 1,000 BPO jobs in PH

Four foreign companies set to open 1,000 BPO jobs in PH.....»»

Category: financeSource:  thestandardRelated NewsJun 27th, 2017

Political uncertainty seen casting pall in the medium term

THE PHILIPPINE ECONOMY seems assured of robust growth at least for the coming year, Capital Economics said, even as it flagged “bigger risks... over the medium term” from President Rodrigo R. Duterte’s “abrasive rhetoric and dictatorial tendencies” that in turn could weigh on investments......»»

Category: newsSource:  bworldonlineRelated NewsJun 25th, 2017

Property market unperturbed by martial law in Mindanao

MANILA, Philippines -  The Philippine property market is not seen to be negatively impacted by the martial law declaration in Mindanao, as foreign companies.....»»

Category: financeSource:  philstarRelated NewsJun 1st, 2017

Finance: PNB looking to tap debt market anew to meet investor demand

PHILIPPINE NATIONAL Bank (PNB) is looking into entering the dollar debt market early next year, as it sees healthy investor demand for foreign currency loans amid the government's thrust to ramp up infrastructure spending......»»

Category: financeSource:  bworldonlineRelated NewsApr 25th, 2017

Opinion: Thinking Beyond Politics -- Victor C. Manhit: "Accelerating Duterte's Infrastructure Program"

Last week, the Asian Development Bank (ADB) released its 2017 outlook for the region. The Philippine economy is expected to grow by 6.4% in 2017 -- a moderate pace that is still faster than several economies in the region. The ADB underscored, however, that greater investment in infrastructure would be crucial in insulating our growth from external risks, such as higher commodity prices and the uncertainties surrounding global trade......»»

Category: financeSource:  bworldonlineRelated NewsApr 11th, 2017