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Local bank deposits hit record P11.3 trillion — PDIC

The total deposit liabilities of the domestic banking system further rose to a fresh record-high P11.307 trillion at the end of the first nine months, the latest Philippine Deposit Insurance Corp. (PDIC) data showed. The end-September deposits across commercial, thrift and rural banks jumped 15.3 percent from P9.806 trillion a year ago, as well as grew 2.8 percent from P11 trillion a quarter ago. "Year-on-year, all bank types registered a positive growth. Commercial banks registered the fastest expansion in domestic deposits at 15.9 percent, followed by rural banks at 11.2 percent and thrift banks at 9.8 percent," the PDIC said in a report. End-September deposits in commerci...Keep on reading: Local bank deposits hit record P11.3 trillion — PDIC.....»»

Source: Inquirer InquirerCategory: 2 hr. 27 min. ago Related News

How Disney is bringing the brand to more Filipinos

By Cathy Rose A. Garcia, Associate Editor IF YOUR FAVORITE SM mall is looking more like a Disney wonderland these days, it’s just part of the mall giant’s multi-year partnership with The Walt Disney Company (Philippines), Inc. This holiday season, Christmas decorations at SM malls are all about Disney. For instance, a giant Christmas tree […] The post How Disney is bringing the brand to more Filipinos appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: News9 hr. 1 min. ago Related News

Forgive Me When I Whine

Today upon a bus, I saw a lovely maid with golden hair; I envied her-she seemed so gay, and how, I wished I were so fair; When suddenly she rose to leave, I saw her... The post Forgive Me When I Whine appeared first on MetroCebu News......»»

Source: Metrocebu MetrocebuCategory: News18 hr. 27 min. ago Related News

‘Titanic’ keeps that sinking feeling alive, 20 years on

LOS ANGELES, United States --- Part saturnine elegy to doomed youth, part exaltation of the transcendent power of love, blockbuster disaster movie "Titanic" is delivering that sinking feeling to a whole new generation of fans. Tuesday marks two decades since Rose vowed to Jack she'd "never let go" -- before spectacularly reneging on her promise, sending her frozen-to-death paramour to a watery grave and leaving "Titaniacs" worldwide sobbing into their popcorn. The anniversary has been celebrated with screenings across the United States, and audiences are still swooning over the young lovers played by Leonardo DiCaprio and Kate Winslet -- now both Oscar winners and Hollywood A-l...Keep on reading: ‘Titanic’ keeps that sinking feeling alive, 20 years on.....»»

Source: Inquirer InquirerCategory: Dec 17th, 2017Related News

‘Youthquake’ named Oxford Dictonaries’ word of 2017

LONDON: “Youthquake” was crowned on Friday as Oxford Dictionaries’ word of the year 2017, following a five-fold increase in usage. The word is defined as “a significant cultural, political, or social change arising from the actions or influence of young people.” It first rose during Britain’s June general election, which saw an upsurge in youth [...] The post ‘Youthquake’ named Oxford Dictonaries’ word of 2017 appeared first on The Manila Times Online......»»

Source: Manilatimes ManilatimesCategory: Dec 16th, 2017Related News

OFW remittances post Oct rebound

Money sent home by overseas Filipino workers (OFWs) bounced back in October, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, boosting the year-to-date tally past the $25-billion mark. Personal remittances rose to $2.55 billion from $2.32 billion a year ago, up 9.7 percent and recovering from September’s five-month low of $2.44 billion. Year to [...] The post OFW remittances post Oct rebound appeared first on The Manila Times Online......»»

Source: Manilatimes ManilatimesCategory: Dec 16th, 2017Related News

Rose leads by 1 after 2 rounds at Indonesian Masters

JAKARTA, Indonesia (AP) — Justin Rose completed the final two holes of his second round early Saturday for a 3-under 69 and a one-stroke lead at the Indonesian Masters. Rose, who had a first-round 62, was among a quarter of the field forced off the Royale Jakarta Golf Club course after weather delays on Friday. The Englishman, who bogeyed his last hole, had a two-round total of 13-under 131. Kiradech Aphibarnrat, who completed his 64 on Friday, was in second place. Brandt Snedeker withdrew with apparent heat exhaustion on Friday on the 11th hole of the second round. Ranked 51st in the world, he flew to Jakarta looking to move inside the top 50 by the end of the year and ensure a spot in next year's Masters......»»

Source: Abscbn AbscbnCategory: SportsDec 16th, 2017Related News

As Olympics near, South Korea agonizes over post-Games costs

By Kim Tong-Hyung, Associated Press GANGNEUNG, South Korea (AP) — South Korean officials have ruled out turning a state-of-the-art Olympic skating arena into a giant seafood freezer. Other than that, not much is certain about the country's post-Winter Games plans for a host of expensive venues. As officials prepare for the games in and around the small mountain town of Pyeongchang, there are lingering worries over the huge financial burden facing one of the nation's poorest regions. Local officials hope that the Games will provide a badly needed economic boost by marking the area as a world-class tourist destination. But past experience shows that hosts who justified their Olympics with expectations of financial windfalls were often left deeply disappointed when the fanfare ended. This isn't lost on Gangwon province, which governs Pyeongchang and nearby Gangneung, a seaside city that will host Olympic skating and hockey events. Officials there are trying hard to persuade the national government to pay to maintain new stadiums that will have little use once the athletes leave. Seoul, however, is so far balking at the idea. The Olympics, which begin Feb. 9, will cost South Korea about 14 trillion won ($12.9 billion), much more than the 8 to 9 trillion won ($7 to 8 billion) the country projected as the overall cost when Pyeongchang won the bid in 2011. Worries over costs have cast a shadow over the games among residents long frustrated with what they say were decades of neglect in a region that doesn't have much going on other than domestic tourism and fisheries. "What good will a nicely managed global event really do for residents when we are struggling so much to make ends meet?" said Lee Do-sung, a Gangneung restaurant owner. "What will the games even leave? Maybe only debt." ___ TEARING THINGS DOWN The atmosphere was starkly different three decades ago when grand preparations for the 1988 Seoul Summer Games essentially shaped the capital into the modern metropolis it is today. A massive sports complex and huge public parks emerged alongside the city's Han River. Next came new highways, bridges and subway lines. Forests of high-rise buildings rose above the bulldozed ruins of old commercial districts and slums. The legacy of the country's second Olympics will be less clear. In a country that cares much less now about the recognition that large sporting events bring, it will potentially be remembered more for things dismantled than built. Pyeongchang's picturesque Olympic Stadium — a pentagonal 35,000-seat arena that sits in a county of 40,000 people — will only be used for the opening and closing ceremonies of the Olympics and Paralympics before workers tear it down. A scenic downhill course in nearby Jeongseon will also be demolished after the games to restore the area to its natural state. Fierce criticism by environmentalists over the venue being built on a pristine forest sacred to locals caused construction delays that nearly forced pre-Olympic test events to be postponed. Gangwon officials want the national government to share costs for rebuilding the forest, which could be as much as 102 billion won ($95 million). ___ NO FISH Despite more than a decade of planning, Gangwon remains unsure what to do with the Olympic facilities it will keep. Winter sports facilities are often harder to maintain than summer ones because of the higher costs for maintaining ice and snow and the usually smaller number of people they attract. That's especially true in South Korea, which doesn't have a strong winter sports culture. Not all ideas are welcome. Gangwon officials say they never seriously considered a proposal to convert the 8,000-seat Gangneung Oval, the Olympic speed skating venue, into a refrigerated warehouse for seafood. Officials were unwilling to have frozen fish as part of their Olympic legacy. Gangwon officials also dismissed a theme park developer's suggestion to make the stadium a gambling venue where people place bets on skating races, citing the country's strict laws and largely negative view of gambling. A plan to have the 10,000-capacity Gangneung Hockey Center host a corporate league hockey team fell apart. Even worse off are Pyeongchang's bobsleigh track, ski jump hill and the biathlon and cross-country skiing venues, which were built for sports South Koreans are largely uninterested in. After its final inspection visit in August, the International Olympic Committee warned Pyeongchang's organizers that they risked creating white elephants from Olympic venues, though it didn't offer specific suggestions for what to do differently. Cautionary tales come from Athens, which was left with a slew of abandoned stadiums after the 2004 Summer Games that some say contributed to Greece's financial meltdown and Nagano, the Japanese town that never got the tourism bump it expected after spending an estimated $10.5 billion for the 1998 Winter Games. Some Olympic venues have proved to be too costly to maintain. The $100 million luge and bobsled track built in Turin for the 2006 games was later dismantled because of high operating costs. Pyeongchang will be only the second Olympic host to dismantle its ceremonial Olympic Stadium immediately after the games — the 1992 Winter Olympics host Albertville did so as well. ___ 'MONEY-DRINKING HIPPOS' Gangwon has demanded that the national government in Seoul pay for maintaining at least four Olympic facilities after the Games — the speed skating arena, hockey center, bobsleigh track and ski jump hill. This would save the province about 6 billion won ($5.5 million) a year, according to Park Cheol-sin, a Gangwon official. But the national government says doing so would be unfair to other South Korean cities that struggled financially after hosting large sports events. Incheon, the indebted 2014 Asian Games host, has a slew of unused stadiums now mocked as "money-drinking hippos." It would also be a hard sell to taxpayers outside of Gangwon, said Lee Jae-soon, an official from the Ministry of Culture, Sports and Tourism. Unlike the 1988 Olympics and the 2002 World Cup, which were brought to South Korea after bids driven by the national government, the provincial government led the bid for the Pyeongchang games and it did so without any commitment from Seoul over footing the bill. Under current plans, Gangwon will be managing at least six Olympic facilities after the games. These facilities will create a 9.2 billion won ($8.5 million) deficit for the province every year, a sizable burden for a quickly-aging region that had the lowest income level among South Korean provinces in 2013, according to the Korea Industrial Strategy Institute, which was commissioned by Gangwon to analyze costs. Hong Jin-won, a Gangneung resident and activist who has been monitoring Olympic preparations for years, said the real deficit could be even bigger. The institute's calculation is based on assumptions that each facility would generate at least moderate levels of income, which Hong says is no sure thing. He said that could mean welfare spending gets slashed to help make up the lack of money. South Korea, a rapidly-aging country with a worsening job market and widening rich-poor gap, has by far the highest elderly poverty rate among rich nations, according to Organization for Economic Cooperation and Development figures. If Seoul doesn't pay for the Olympic facilities, and Gangwon can't turn them into cultural or leisure facilities, it might make more sense for Gangwon to just tear them down. Park said the national government must step up because the "Olympics are a national event, not a Gangwon event.".....»»

Source: Abscbn AbscbnCategory: SportsDec 15th, 2017Related News

Antique gears up for airport revival

By: Dimple Rios, Paul Stanley Kilayko, Juliana Rose Pagador THE province of Antique is preparing for the resumption of commercial flights at Evelio B. Javier (EBJ) Airport. “The Provincial Planning and Development Office (PDDO) submitted a resolution to the Regional Development Council (RDC) for the EBJ airport. So with that resolution, they alloted a budget for […] The post Antique gears up for airport revival appeared first on The Daily Guardian......»»

Source: Thedailyguardian ThedailyguardianCategory: NewsDec 15th, 2017Related News

Q3 FDI pledges end 4 quarters of decline

By Arianne Kristel R. Pelagio FOREIGN direct investment (FDI) commitments rose in the third quarter, partially recovering from four straight quarters of decline. Preliminary Philippine Statistics Authority (PSA) data show that approved FDI pledges — which are commitments until capital actually flows in — registered with the country’s seven investment promotion agencies (IPAs) grew 61.1% […] The post Q3 FDI pledges end 4 quarters of decline appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsDec 14th, 2017Related News

Aguirre orders NBI to probe slay of seaman’s wife, daughter in Cavite

    Justice Secretary Vitaliano Aguirre II has ordered the National Bureau of Investigation (NBI) to investigate the double-murder of a seaman's wife and daughter in General Trias City, Cavite. Aguirreon Thursdaysigned a department order instructing the NBI to conduct an investigation and case build-upon the deaths of Ruby Gamos, 34, and daughter Shaniah Nicole, 7. READ: Killer in Cavite double-murder possibly known to victims --- police The justice chief also ordered NBI Director Dante Gierran to regularly submit a progress update of the investigationto his office. The two were found dead inside their home at Kensington, Barangay Navarro last Tuesday, Dec. ...Keep on reading: Aguirre orders NBI to probe slay of seaman’s wife, daughter in Cavite.....»»

Source: Inquirer InquirerCategory: Dec 14th, 2017Related News

BLOGTABLE: Is Joel Embiid the NBA s best big man?

NBA.com blogtable Joel Embiid says he is the best big man in the NBA. What say you? * * * David Aldridge: I say he may be right. Who's better? We all see what Karl-Anthony Towns can do on the block and wings offensively, but until very recently, he's been a terrible defender. Embiid has been, if not a stopper, a very good defender, both on the ball and helpside. You can make a case for Anthony Davis, sure, but he seems to have as much trouble staying on the floor as Embiid has had. Rudy Gobert is an elite defender, but Embiid is clearly superior offensively. Marc Gasol is 32 and has fallen off defensively. And while I love DeMarcus Cousins's game, Embiid has it all over him on Twitter. I'm Trusting The Process on this one. Steve Aschburner: I say, he’s generally right but it’s always best to let others say it for you, big guy. In Embiid’s case, the skill set, the production and the personality are all present and accounted for. The question remains, is he durable enough? If he can minimize his absences, playing 70 games or so a year, and stay on the floor as needed like he did in Minnesota Wednesday (Thursday, PHL time) – 39 minutes in the Sixers’ OT victory, leading with 28 points, 12 rebounds and eight assists head-to-head with Karl-Anthony Towns – then I’m right there with Embiid in his assessment. But if he breaks down again or has to be restricted to, oh, 60 games or fewer going forward, then I’d stick with Towns, DeMarcus Cousins or Marc Gasol as best big for the short-term. Shaun Powell: Slow down, young man. Perhaps in due time most of us might agree with Embiid, but for now he's just throwing shade at other big men who are his equal if not better. DeMarcus Cousins is at the head of the list, and Karl-Anthony Towns isn't far behind. Here's what I want to see from Embiid before I throw rose petals at his feet (carefully, that is): A full season and an All-NBA selection. Without those, I'm looking elsewhere. John Schuhmann: In the context of the team he plays on, Draymond Green is the best big in the league, because both ends of the floor are equally important. Green is the league's best defender, a versatile big who can protect the rim and defend guards on switches. He's not as polished offensively as DeMarcus Cousins or Joel Embiid, but (this is where context comes into play) he's a terrific complement to the Warriors' perimeter All-Stars, a smart screener and passer who's a critical cog in the best offense in NBA history. In a vacuum, Embiid has a case as an impact player on both ends of the floor. And sooner than later, the title of "best big in the league" will surely belong to him. But right now, it belongs to the only big who played more than 15 minutes per game for the team that went 16-1 in the playoffs. Sekou Smith: Joel Embiid says lots of interesting things that other players with his limited amount of time on the floor in actual games might keep quiet about. But part of Embiid's appeal and aura is his unabashed belief in himself and the fact that he is indeed the best big man in the NBA. He's not there just yet. I'd argue DeMarcus Cousins has a thicker body of work to make that claim right now. But Embiid is certainly on the short list and definitely a guy who has the entire skill set to earn that distinction and carry that best big man flag for years to come. He'll have to battle other young stars like Karl-Anthony Towns and Nikola Jokic for the title in the future, which should be entertaining, but you can't wear the crown before your time......»»

Source: Abscbn AbscbnCategory: SportsDec 14th, 2017Related News

Probe killing of 17 women activists, Leila asks colleagues

Opposition Sen. Leila de Lima urged her fellow senators to investigate the alleged summary killings of 17 women rights defenders under the Duterte administration.   In filing Senate Resolution No. 573, De Lima cited records of human rights groups Tanggol Bayi and Karapatan, showing that 17 women activists were supposedly killed since President Duterte rose to power in July last year.   Most of the victims of alleged summary executions were peasant leaders and human rights advocates, according to the groups.   De Lima said the state had an obligation to protect human rights defenders, especially those who were abused as a consequence of their gender and ac...Keep on reading: Probe killing of 17 women activists, Leila asks colleagues.....»»

Source: Inquirer InquirerCategory: Dec 14th, 2017Related News

Quality-of-life expectations rise in Q3 — SWS

QUALITY-OF-LIFE expectations in the next 12 months rose in the third quarter compared with the second, Social Weather Stations (SWS) said, citing the results of a survey of 1,500 respondents nationwide. The net score of respondents who believe their personal quality of life will improve in the next 12 months was +42, up from +40 […] The post Quality-of-life expectations rise in Q3 — SWS appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsDec 13th, 2017Related News

Auto sales up 16.8% in first 11 months ahead of higher excise tax

AUTO SALES in the 11 months to November rose 16.8% as buyers got their purchases in ahead of a higher excise tax to take effect in 2018, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. (TMA) said. In a joint report, the associations said sales in the 11 […] The post Auto sales up 16.8% in first 11 months ahead of higher excise tax appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsDec 13th, 2017Related News

Jobless rate rises to 5% in Oct

MANILA, Philippines — Unemployment in the country rose in October due to a drop in the number of agriculture workers, government data showed......»»

Source: Philstar PhilstarCategory: FinanceDec 13th, 2017Related News

Seaman’s daughter choked to death, wife pummeled — police

  The wife of a seaman found dead in Cavite died from a blow to the head while their seven-year-old daughter was smothered to death, police said Wednesday.   Ruby Gamos, 34, and daughter Shaniah Nicole were found lifeless inside their house at Kensington Subdivision, Barangay Navarro, General Trias City, Cavite, on Tuesday.   "'Yung ina, ang ikinamatay ay palo sa ulo. Pinalo siya ng isang matigas na bagay. 'Yung sa anak sa suffocation (namatay)," said Supt. Chit Gaoiran, PNP Region 4A spokesperson, said in an interview with radio dzMM.   Gaoiran said the child appeared to have been smothered with a pillow.   She said they were looki...Keep on reading: Seaman’s daughter choked to death, wife pummeled — police.....»»

Source: Inquirer InquirerCategory: Dec 13th, 2017Related News

Trade deficit hits record high in Oct

THE Philippines’ trade deficit hit a record high in October as imports grew twice as fast as exports, the Philippine Statistics Authority (PSA) reported on Tuesday. Inbound shipments rose by 13.1 percent year-on-year to $8.21 billion, PSA data showed, while exports grew at a slower pace of 6.6 percent to $5.36 billion. The total balance [...] The post Trade deficit hits record high in Oct appeared first on The Manila Times Online......»»

Source: Manilatimes ManilatimesCategory: Dec 13th, 2017Related News

Improved Fitch rating pushes index up 0.65%

INVESTORS went buying on Monday following an international debt watcher’s upgrade of the country’s credit rating. The bellwether Philippine Stock Exchange index (PSEi) added 0.65 percent or 53.87 points to close at 8,358.57. The broader All Shares similarly rose by 0.55 percent or 26.59 points to finish at 4,885.45. “Locally, the markets cheered as Fitch [...] The post Improved Fitch rating pushes index up 0.65% appeared first on The Manila Times Online......»»

Source: Manilatimes ManilatimesCategory: Dec 11th, 2017Related News

Construction materials prices rise in November amid infrastructure drive

THE retail price of construction materials rose in November amid the rollout of several big-ticket infrastructure in the National Capital Region, according to data from the Philippine Statistics Authority (PSA). According to a posting Monday on the PSA website, the Construction Materials Price Index rose 1.7% year on year in November, up from 1.4% in October. On […] The post Construction materials prices rise in November amid infrastructure drive appeared first on BusinessWorld......»»

Source: Bworldonline BworldonlineCategory: NewsDec 11th, 2017Related News