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Thrift banks’ non-performing loans rise at end-March

SOURED DEBTS held by thrift banks picked up anew in March to outpace the growth in total loans, latest data from the Bangko Sentral ng Pilipinas (BSP) showed. Non-performing loans (NPLs) held by these lenders stood at P44.633 billion, 11.4% higher than the P40.069 billion in soured debts incurred in March 2017. The rise in […] The post Thrift banks’ non-performing loans rise at end-March appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: News20 min. ago Related News

P570M worth of Davao City spending, accounts in 2017 lacked documents – COA

MANILA, Philippines – The Commission on Audit (COA) has raised several red flags over Davao City's finances in 2017, noting that P569.855 million worth of spending and accounts lacked supporting documents. The state auditors' observations – that the transactions were not transparent and their validity was doubtful – ........»»

Source: Rappler RapplerCategory: News6 hr. 19 min. ago Related News

Provincial dealerships sprout

Business is very good in the local automotive industry, which has seen continuous growth sales-wise in the last six years. In 2017, our market sold a total of 470,000 brand-new passenger vehicles, up some 17% from 2016’s 400,000-unit tally. Around 35-40% of these new cars wind up in Metro Manila alone, which explains the horrendous […] The post Provincial dealerships sprout appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: News6 hr. 40 min. ago Related News

Dashboard (05/23/18)

3 PHL Chevrolet dealers named ‘GM Grandmasters’ CHEVROLET Philippines said three of its dealers were named among GM Grandmasters for 2017. The company explained “Grandmasters” refer to GM’s best-performing dealers in terms of sales, service and after-sales in Southeast Asia. The winners from the Philippines were Chevrolet Pasig, Chevrolet Cebu and Chevrolet Ilocos Norte. Chevrolet […] The post Dashboard (05/23/18) appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: News6 hr. 40 min. ago Related News

Business of Football - Philippines highlights football s growth in the country

MANILA -  The recent success of The Azkals, with their Asian Cup qualification, and their FIFA ranking at its highest at 111, has given football a renewed confidence, and a positive outlook in terms of the growth of the sport in the Philippines.   Football is now tipped to become the fastest growing sport in the country, with the largest potential for success commercially, and in terms of on-pitch success.  The sport which is currently number 3 in the Philippines in terms of popularity and participation, after basketball and boxing, is said to be still further behind compared to other sports, such as volleyball, billiards, etc., in terms of TV coverage. These were among the insights and trends gathered from top-notch executives of organizations such as AFC, PFF, PFL, LaLiga, Dentsu X, SMG Insight, Globe Telecom, RSportz, Toby Sports and Manila Times, at the ‘Business of Football - Philippines’, organized by MMC Sportz.  The sold-out event was attended by more than 185 local and foreign delegates on 18 May 2018 at the New World Makati Hotel.   MMC Sports CEO Eric Gottschalk says, “Research in this market, shows that TV is still the number one platform here in the Philippines, and is the number one medium that advertisers are looking for, to spend their budgets on.  We also learned that live TV coverage actually stimulates stadium attendance, and not vice versa.  If there’s more football on TV, we will see more fans in the stadium.  Currently football is not ranked among the top 100 TV programmers in the Philippines and is only number 3 sport in terms of participation and popularity after basketball and boxing.  Football needs media in order to drive commercial revenues for the clubs.”   “Now is also the perfect time to get involved in football since sponsorship and advertising opportunities are currently very affordable compared for example to basketball, but this is predicted to change within the next 6-12 months, as values are expected to increase sharply.  Football also needs to create more idols and heroes to attract more media coverage overall, other than just covering game scores. Each team has a unique story which just needs to be told,” says Gottschalk. Following the presentation about the Philippines Football League (PFL) it was agreed that the PFL now fills the lack of regular created football content as the leagues matches (87 in 2018/19 season) contribute year-round stories to keep football in the news. In the past, the main talking points were around the Azkals which only play very few home matches each year.      Public education about the game of football is also needed on all levels as many people in the Philippines are still not aware about the rules or aware of programs available like coaching academies, amateur competitions, or how and where to follow the professional league.  Ten thousand (10,000) qualified grassroots coaches are also needed to satisfy the local demand and to trigger strong football development and growths. Investors on the other hand are looking for consistency and credibility of the football product but with the PFL in the second season and foreign sponsors expected to invest in the Philippines, local brands should consider to follow suit.  On the sports retail side, only 1.5% of current retail sales are attributed to football, while basketball enjoys a healthy 46% market share. As a result, only limited line items and stocks are available in stores and entry level boots and replica jerseys are too high priced to be affordable for the average consumer. The national player registration program, MY PFF, has been launched with the objective to collect vital statistics and data about the football community which is urgently needed to support the youth football development strategy of the PFF and to develop a players pathway.  As FIFA has mandated to register the estimated 1.5 million players in the Philippines, the PFF has urged organizers and players to already register online as by next month only registered players will be allowed to participate in sanctioned events. The “Business of Football – Philippines” conference also announced 36 career opportunities related to sports and football, including positions in marketing, legal, competition management and coaching, with all these listing being available online with MMC Sportz or for direct inquiries with the PFF. In his closing remarks, MMC Sportz CEO Eric M. Gottschalk stated that “More importantly, Don’t Break the 12th Man! It is important that all stakeholders don’t forget to engage with the fans. The fans are the most important aspect of the development of football in the Philippines – if there are no fans of football then there is no media, no spectators, no players, no games, no business. Everyone is required to ensure we keep the fans (football consumers) engaged year-long and the first step would be to get the media behind the game. There is a strong football - community out there already and hopefully, we the TV broadcasters will take another look at football and give them at least some consideration on the program schedule.  I believe today’s conference was a great success.  We brought the football community together, stimulated thinking, exchanged ideas and transferred a lot of knowledge. Now it is up to the football stakeholders to continue the progress.  From our end (and with the approval of the PFF) we will stage the 2nd edition of BOF early 2019 and hopefully we will be able to report on some of the changes initiated today.”    Speakers who shared their insights include LaLiga Managing Director for South East Asia, Japan, Korean and Australia Ivan Codina, AFC Head of MA Services Domeka Garamendi, SMG Insight Managing Director Frank Saez, Azkals Team Manager Dan Palami, Globe Director for OIC, Citizenship and Advocacy Marketing Miguel Bermundo, PFL CEO Lazarus Xavier, PFF General Secretary Atty. Edwin Gastanes, Ignite Sports Group Managing Director Michael Reyes,  Asian Replica Designs Founder & Owner Jonathan Mallinson, Quorum Group President & COO Jose Claudio, Jr., Mediapro Asia Director of Sales and Sponsorship Salauddin Sinnakandu, and MMC Sportz Marketing CEO Eric Gottschalk.  Organized by MMC Sportz Asia, the event was sanctioned by the Asia Football Confederation (AFC) and the Philippines Football Federation (PFF), and sponsored by La Liga, Dentsu X, SMG Insight, RSportz, Globe Telecom, Toby’s Sports, Manila Times and Platinumlist. - RELEASE  .....»»

Source: Abscbn AbscbnCategory: Sports11 hr. 40 min. ago Related News

Result of US-China talks: Short-term relief, long-term risks

In the short run, a truce in the trade conflict between the United States and China has lightened tensions, halted the immediate threat of U.S. tariffs on China's goods and cheered stock markets. The long-run picture may not be so sunny......»»

Source: Philstar PhilstarCategory: Finance11 hr. 53 min. ago Related News

Sotto is Senate President, Morales’ 2017 net worth, PH on Chinese bombers | Evening wRap

Today on Rappler: Tito Sotto , the Senate's most senior lawmaker, is elected as its new President.  Malacañang accuses the husband of Lovelie Sangkola Sumera, former wife of presidential son Paolo Duterte, of using the Duterte name to fix judicial cases. O mbudsman Conchita Carpio Morales' net worth for 2017 is P17 million more than when ........»»

Source: Rappler RapplerCategory: News19 hr. 6 min. ago Related News

Philippines misses most of 2017 labor targets

MANILA, Philippines – The Philippines improved in addressing unemployment and low work force participation in women in 2017, but this was not enough to breach desirable territory. In a press briefing on Monday, May 21, the National Economic and Development Authority (NEDA) revealed the country’s unemployment rate for 2017 ........»»

Source: Rappler RapplerCategory: News19 hr. 6 min. ago Related News

Marawi and Beyond

As we approach the first anniversary of the Marawi Siege that started on May 23, 2017, several questions have begun to loom large. What is the future of Marawi? How do we help the thousands of internally displaced persons return to their homes or new surroundings? What will happen to the second draft of the Bangsamoro Basic Law now pending in Congress? How do we address the specter of violent extremism that may be spreading to other parts of Mindanao? What is the role of religious leaders? What is the contribution of schools as well as of ordinary communities of Christians, Muslims and indigenous people in building a Culture of Peace?.....»»

Source: Kagay_an Kagay_anCategory: News19 hr. 53 min. ago Related News

Morales richer by P4.4M in 2017 - Inquirer.net

Morales richer by P4.4M in 2017 - Inquirer.net.....»»

Source: Googlenews GooglenewsCategory: NewsMay 21st, 2018Related News

Capalla tells Fr. Chito Soganub that Nigerian priest predicted his freedom

DAVAO CITY (MindaNews / 20 May) — Dawn of September 16, 2017, Davao Archbishop Emeritus Fernando Capalla received a phone call from a priest-friend in Nigeria that hostaged priest Teresito “Chito” Soganub would be freed that day. The retired archbishop narrated the story to Soganub over coffee at the dining room of his residence on […].....»»

Source: Mindanews MindanewsCategory: NewsMay 21st, 2018Related News

Cardinal Quevedo: any revision in BTC-BBL would add another injustice against Bangsamoro people

DAVAO CITY (MindaNews / 21 May) – The draft Bangsamoro Basic Law (BBL) of the Bangsamoro Transition Commission (BTC) would correct the historical injustices committed against the Moro people, but any substantial revisions from its current form would result in another grave injustice, Cardinal Orlando Quevedo said. In a statement delivered during the Senate Consultative […].....»»

Source: Mindanews MindanewsCategory: NewsMay 21st, 2018Related News

Morales leaves Ombudsman P17M richer than when she came in

MANILA, Philippines – Ombudsman Conchita Carpio Morales' net worth for 2017 stands at P58.615 million, or P17 million more than when she first became Ombudsman in 2011. Morales’ entry Statement of Assets, Liabilities and Net Worth (SALN) when she was appointed  Ombudsman in July 2011 showed she ........»»

Source: Rappler RapplerCategory: NewsMay 21st, 2018Related News

Ombudsman Morales P4.4 million richer in 2017

Ombudsman Conchita Carpio-Morales posted a net worth in 2017 of P56.615 million—44 percent higher than when she first assumed leadership of the Office of the Ombudsman in 2011......»»

Source: Philstar PhilstarCategory: NewsMay 21st, 2018Related News

LA Lakers prepare for busy offseason

NBA.com staff report It has to be tough to watch the Eastern Conference finals for the Los Angeles Lakers' brass. While they are mired in a rebuilding campaign that has lasted longer than anyone in the organization is comfortable with, their rivals in Boston are playing in a second straight Eastern Conference finals during what was supposed to be their rebuilding stretch under Brad Stevens. The Lakers and Celtics, the NBA's leaders in all-time titles won, measure themselves against each other, even when they're not on the same level on the court. That might be why the Lakers are making it clear ahead of next month's draft that no one on the roster is "untouchable" as Magic Johnson and Rob Pelinka continue the heavy lifting in remaking the roster and trying to do in the rugged Western Conference what the Celtics have done in the East the past two seasons. It could make for an interesting time for some of the talented youngsters the Lakers already have in the fold. Tania Ganguli of the Los Angeles Times explains: To be clear, the Lakers are not actively shopping any of their players. They are willing to listen to offers and could move one of them — even a member of the talented young cadre of Lonzo Ball, Kyle Kuzma, Brandon Ingram or Josh Hart — if an offer blows them away. Publicly the Lakers have remained mum on the subject. When Magic Johnson, president of basketball operations, was asked during a news conference in April whether he would consider trading any of his young core this summer, Johnson declined to entertain the question. Since a regime change in the spring of 2017, the Lakers have worked to position themselves to have the option to be major players in the free-agency periods of this summer and 2019. Johnson and general manager Rob Pelinka made clear they were planning to save salary cap space for two summers that will have talented free-agent classes. LeBron James and Paul George are expected to be free agents this summer, while next year's class could include Kawhi Leonard, Kyrie Irving, Kemba Walker and Klay Thompson. Leonard might be available this summer if the Spurs choose to trade him. The All-Star forward played in only nine games this season while recovering from a right quad injury, leading to tension between him and the team. There are those around the league who believe the Lakers would be his preferred destination. In order to keep their salary cap flexible, the Lakers refused to offer any multiyear contracts to free agents last summer. They focused on one-year deals in free agency (Kentavious Caldwell-Pope) and acquiring expiring contracts in trades (Brook Lopez, Isaiah Thomas and Channing Frye)......»»

Source: Abscbn AbscbnCategory: SportsMay 21st, 2018Related News

Moving onward and upward

The trust industry of the Philippines saw its assets grow in 2017 on the back of strong macroeconomic fundamentals and favorable investment climate, according to Bangko Sentral ng Pilipinas (BSP). In “A Report on the Philippine Financial System,” BSP said the industry’s total assets reached P3.42 trillion, up 15.9% from 2016. “The expansion in the […] The post Moving onward and upward appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsMay 21st, 2018Related News

PBA: El Destructor debuts new clean look in latest Phoenix stint

Eugene Phelps is playing his third PBA season but if you didn't recognize him Sunday against Brgy. Ginebra, well you're not alone. After an injury-plagued 2017, El Destructor completely changed his look. He cut his hair, shaved his beard, and he even changed his diet, resulting in a more lean frame. "Last year I had a foot injury an I had a surgery on my hand so I just had to switch everything up," Phelps said. "Actually, I cut my hair bald and it's just growing back now. I have a new diet [too], salad and everything so I feel pretty good. I lost like 14 pounds," he added. Against the Gin Kings, Phelps led Phoenix with 25 points, 14 rebounds, and seven assists. The Fuel Masters won in double overtime to enter the All-Star break with a winning record, 3-2. "They told me last year when I got hurt that they wanted me back," Phelps said. "So I kind of figured that I was going back for the 3rd conference but they wanted me to come a little bit early because it's a new system, you know, and then James [White] got hurt and they have me come in and play so it feels good to be back. It's family here so it feels good," he added. If there's one thing that was a bummer in Phelps' game Sunday was the fact that he cramped up in the fourth. However, his streak of winning his first game back for Phoenix continued. The Fuel Masters are now 4-0 everyting they get Phelps for a fresh conference. "I started cramping up in the 4th quarter and then when double OT came, I tried to push it but I can't even walk or anything," he said. "Thank God my team came through for me and we got the win," Phelps added.   --- Follow this writer on Twitter, @paullintag8.....»»

Source: Abscbn AbscbnCategory: SportsMay 20th, 2018Related News

Consunji firm begins demolition of NCCC Mall Davao, five months after the fire

DAVAO CITY  (MindaNews / 19 May) — An official of the DM Consunji, Inc. (DMCI) which is undertaking the four-month demolition of the NCCC Mall Davao starting Saturday, May 19, has clarified it was not the firm that renovated the third floor of the mall where the fire reportedly started on December 23, 2017. In […].....»»

Source: Mindanews MindanewsCategory: NewsMay 20th, 2018Related News

Cusi Energizes Six Lanao Coastal Towns

Energy Secretary Alfonso G. Cusi led Thursday, May 17, the ceremonial switching on of electrical service to six coastal municipalities of Lanao del Sur which had been without power for the last six years. Almost a year since the Marawi siege started on 23 May 2017, Cusi came to this city with a message of […].....»»

Source: Metrocebu MetrocebuCategory: NewsMay 20th, 2018Related News

COA questions Bulacan s P20-M payment to government consultants

MANILA, P"hilippines – The Commission of Audit (COA) recommended the dismissal of 81 "consultants" hired by the Bulacan provincial government in 2017. The 81 consultants were hired on 6-month contracts and were paid from P10,000 to P40,000 monthly. In 2017, a total of P20 million was ........»»

Source: Rappler RapplerCategory: NewsMay 20th, 2018Related News