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Philippine unemployment rate falls to 7 from 7.4%

2012-01-16T03:01:00.000-08:00

MANILA, Philippines—The number of Filipinos without jobs settled at 2.814 million in 2011 when the labor force breached the 40-million mark, according to the Bureau of Labor and Employment Statistics.

BLES data show that with 40.005 million economically active Filipinos — those who are at least 15 years old and are available for work—the unemployment rate in 2011 averaged 7 percent, improving from 7.4 percent the previous year.

The difference represents a decrease of 45,000 from the 2.859 million jobless in 2010. BLES attributed the improvement to the growth in job creation out-pacing the growth in the labor force.

Job-generation grew faster in 2011 at 3.2 percent year-on-year with 1.156 million (exceeding the one-million target) added to the roster of the employed. In 2010, growth was pegged at 2.8 percent with 974,000 new jobs.

As for the unemployed, half or 1.4 million were aged 15-24 years. Also, three out of five of the jobless were men.

Compared to the national average, unemployment was higher in the National Capital Region (11.3 percent), Calabarzon (9.7 percent), and Central Luzon and Ilocandia (both at 8.5 percent).

According to the BLES, the growth in the size of the labor force went faster in 2011 with 1.1 million additions than in 2010 when one million joined.

“Correspondingly, the labor force participation rate (LFPR) was up to 64.6 percent from 64.1 percent” the previous year,” BLES said.

The LFPR takes into account the size of the labor force against the total number of working-age Filipinos or those 15 years and older.

In 2011, the working-age population was pegged at 61.88 million compared to 60.72 million in 2010.

“The increase in LFPR was higher among women than men. By age cohort, the increase was most pronounced among those aged 15-24 years,” the agency said.

On the other hand, participation was down among senior citizens.

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Miss World 2011 Crowned

2011-11-07T02:40:00.000-08:00

Miss Venezuela, Ivian Sarcos, was crowned the 61st Miss World with Miss Philippines, Gwendoline Ruais as the 1st runner up and Miss Puerto Rico, Amanda Perez, the 2nd runner up.

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Government gets good environment ratings

2011-10-28T05:02:00.000-07:00

MANILA, Philippines — Environment Secretary Ramon J. P. Paje says the positive marks on environmental issues received by President Aquino in an opinion survey will spur better performance by his department.

Paje’s statement came as the survey of the Philippine Information Agency (PIA) on the third quarter performance of government showed that Aquino is doing well.

“We are happy with the positive rating given by the people on the government’s performance in-so-far as environmental issues are concerned. This could only mean that our efforts in various fronts of environmental protection and natural resources management are being felt and appreciated by the people. But at the same time, we are challenged to perform even more,” Paje said.

Of importance to both Aquino and Paje is the implementation of the National Greening Program (NGP), an unprecedented program that seeks to restore the integrity of forests and other areas stripped of trees and lush vegetation.

The PIA study primarily intended to assess the President’s performance as of the third quarter of this year on issues related to the economy, good governance, social development, justice and security, and climate change and environmental protection.

It was conducted from September 23 to 25 via face-to-face interviews with 1,262 respondents, representing 10 sectors from 64 provinces nationwide.

Specifically on environment, study results showed that the President scored a net rating of +32 on the issue of stopping abuse and destruction of the environment, +55 on improving the country’s preparedness for disasters, +42 on protecting endangered species and their natural habitat and +28 on cleaning and clearing natural waterways.

Earlier, the Social Weather Station (SWS) also reported a “very good” overall rating for the administration’s 3rd quarter performance based on its survey of 1,200 respondents conducted from September 4 to 7.

Paje stressed that even with the positive response of the public, his department will continue to level up its efforts to respond to public expectations.

“While the series of environmental disasters has somehow made our people become more aware on what could happen if we neglect our environment, I would like to also give credits to the advocacy that we have embarked in partnership with various sectors of our society,” he said.

The environment chief particularly cited the total log ban imposed on natural and residual forests, the NGP and the creation of the National Anti-Illegal Logging Task Force as important high-impact measures that the P-Noy administration has been spearheading.

“These three, along with our intensified actions against forestry law violators, address the issue of environmental protection, disaster preparation, and habitat conservation,” Paje said.

He also mentioned the geohazard maps made available by the DENR’s Mines and Geosciences Bureau to the different local government units (LGUs) as important tools in planning for and avoiding disasters in localities.

As for clean waterways, the DENR secretary said that one of the agency’s initiatives with the private sector and other government partners which is the “Adopt an Estero” program “has shown tangible proof to our stakeholders that cleaning up our waterways is indeed possible.”

To date, the agency has a total of 231 partners nationwide for the program, which aims to clean up or rehabilitate esteros and other waterways to prevent possible flooding.

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World's worst airport to sleep

2011-10-19T23:37:00.000-07:00

Manila Airport in the Philippines has been voted as the worst in the world for 2011 by a popular travel website.

The airport tops a list compiled by The Guide to Sleeping in Airports based on user reviews from disgruntled travellers.

"The current government administration should hire a bulldozer and a ramming team and start tearing it apart," said one visitor to the site.

Another described it as "run by thieves and extortionists neatly dressed in uniforms."

Auckland Airport topped the 2011 poll for the South Pacific region's best airports to sleep in.

Sleeping in Airports encourages adventurous travellers to save money by spending the night in airports instead of hotels.

They compile annual lists of the best and worst airports for sleepovers, based on issues like safety, availability of comfortable seating and entertainment, and price and quality of food.

Manila does poorly in nearly all categories, with travellers reporting corrupt staff, filthy bathrooms, rampant scams and bribery, and a crowded, uncomfortable main terminal.

"Earlier this year, some bad press regarding the state of the airport made airport officials promise to clean its Terminal 1 toilets and provide running water and soap," the site's review said.

"Imagine.... they actually had to 'promise' to offer this!"

Sleeping in this airport is not recommended.

Other airports on the Worst list include Paris Beauvais in France and Keflavik in Reykjavik, Iceland.

The best airport for 2011 is Singapore Changi, followed by Hong Kong and Seoul Incheon.

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One Million jobs still available in Philippines

2011-10-19T04:22:00.000-07:00

MANILA, Philippines — The Department of Labor and Employment (DoLE) said Wednesday that over one million jobs are still available in Government Job Fairs nationwide.

Earlier, about 800,000 jobseekers were hired after they applied for job vacancies offered at the government job fairs organized by the Public Employment Service Offices (PESO).

Citing an initial report from the Bureau of Local Employment (BLE), Labor and Employment Secretary Rosalinda Baldoz said about 500,000 of these applicants were hired by the private sector, while the remaining 300,000 were hired for government service.

BLE Director Criselda Sy said the PESO, in cooperation with private firms, earlier held 1,179 job fairs nationwide.

“All in all, the PESOs solicited 2,050,411 job vacancies that were made available to 1,299,270 job seekers,” Sy said.

Job fairs held in the National Capital Region (NCR) had the highest number of participants with 151,000 applicants; followed by Region 4-A – 112,000 applicants; Region 7 – 54,100; Region 3 – 37,000; and Region 11 – 30,000.

These job fairs are in line with President Benigno S. Aquino III’s directive to DoLE to intensify its job facilitation program.

“The importance of the PESOs is particularly highlighted by the agenda of President Aquino to address the labor-mismatch problem by promoting better coordination between employers, academia, and the government,” Baldoz said.

Meanwhile, Baldoz also released the third quarter report for DoLE Integrated Livelihood Program (DILP), where about 60,000 disadvantaged workers received a total of P222 million worth of tools and training to start their own businesses.

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Oil companies warn against gov’t intervention

2011-10-18T00:31:00.000-07:00

MAJOR OIL companies warned the government against intervention because of higher subsidies and fuel cost. Other oil companies are also enjoined to open their financial books to the public.

The Philippine Institute of Petroleum (PIP) said in a press conference yesterday there are a lot of investments involved in running a refinery but noted it will not stand in the way if the government wants to enter the Oil Industry again.

“The essence of deregulation is meant to make prices more competitive and to provide more choices for the consumers,” said Roberto S. Kanapi, vice-president of communications of Pilipinas Shell Petroleum Corp.

“In fact, prices could be higher if we used the same formula when the market was regulated.”

He added several countries who subsidize oil prices are now pulling back because of the high cost for the government. PIP member Petron corp. earlier offered its Bataan refinery for repurchase by the government “if it [government] believes it will help stabilize prices.” The firm also offered to sell back its retail stations if requested by the government. The group said it cannot second-guess the ability of the government but reiterated the need to keep the oil market deregulated.

“It really depends on what the government wants to do. We should have a mix of both importers and local refiners to keep inventory high. But of course refineries mean a lot of investments to keep it running,” said Sally C. Monteiro, executive director of the PIP. PIP earlier announced it is willing to allow the public to peruse oil companies’ financial records in support of the government’s call for transparency in the oil industry. The PIP member companies, Shell, Petron Corp., Chevron Philippines, Inc., Total (Philippines) Corp., Liquigaz Philippines Corp. and PTT Philippines Corp., said other oil companies should do the same.

“While we all file financial reports to the Securities and Exchange Commission, we want to tell the public that financial documents are available and they are welcome to peruse it,” said Charmaine V. Canillas, Public Affairs manager of Petron.

“We hope other oil players also do so,” she added. PIP wants relevant financial data to be gathered so the public can understand the oil industry.
It also said any review of the Oil Deregulation Law must include members from many sectors of society. The government is in the process of determining if it will review and recommend amendments to the Oil Deregulation Law.

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Philippine Airlines struggles to regain share

2011-10-17T05:58:00.000-07:00

MANILA--Flagship carrier Philippine Airlines (PAL) has been struggling ever since it was pulled from the brink of collapse 12 years ago.

A raging dogfight with a rival local budget carrier — Cebu Pacific — over market share, labor disputes and a downgrade to the country's air safety ratings have buffeted Asia's oldest national airline.

What's more, the government's efforts to introduce “open skies” for foreign carriers to airports outside Manila — a move aimed at boosting tourism — will be a future challenge for PAL, if it takes off.

PAL, privately owned since local taipan Lucio Tan bought it from the government in 1993, is now going through its biggest restructuring in over a decade. Starting this month, it is outsourcing its airport services, catering and call center operations. This comes at the cost of 2,400 jobs, or a third of the work force. PAL executives say the cuts were a matter of life and death for the carrier.

Analysts say the outsourcing will take a weight off PAL. The legacy airline, noted CLSA Philippines senior research analyst Leo Venezuela, is “saddled with a high cost base.”

Deep cuts were made during the Asian financial crisis in the late 1990s, when a debt-laden PAL laid off a third of its 14,000 staff, ditched routes, and sold off part of its fleet to avoid going under. PAL was then placed under receivership until 2007.

But the latest cutbacks alone are unlikely to revive PAL. For that to happen, say industry watchers, it needs to better compete with low-cost carriers at home, and get more out of its global routes.

After losses totaling US$312 million in 2008 and 2009, PAL turned a profit of US$72.5 million last year. But it was in the red again in the first quarter of its current financial year because of high fuel prices and competition from budget carriers.

“We are challenged by them,” said spokesman Cielo Villaluna. “But we have our niche as the only full-service, legacy carrier and we're dealing with the competition.”

Main rival Cebu Pacific, a budget airline controlled by the Gokongwei family, unseated PAL as No. 1 carrier on domestic flights early last year. By the second quarter of this year, Cebu Pacific had a 44.6 percent share of the domestic market while PAL had 23.7 percent, according to independent data.

In a move Mr. Venezuela called a “good strategy,” PAL indicated last week it may focus on full-service international flights, and let its own low-cost carrier, Airphil Express, take on more domestic routes to boost its current 18.6 percent share of that market.

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Philippines designer turn into 'surgical Superman'

2011-10-14T22:39:00.000-07:00

CALAMBA, Philippines — Superman lives in the Philippines, if you ask Herbert Chavez, a fashion designer who has had plastic surgeons turn him into a near-replica of his comic book hero. During work hours, the bespectacled Chavez wakes up late and designs dresses, but in his free time the 35-year-old dons his self-made cape and shorts-over-tights outfit to live out his life-long obsession.

"I adore superheroes... I am happy as Superman, and happier still to have Filipinos realise that Superman lives in the Philippines and they can see and talk to him in the flesh," Chavez told AFP at his home. Chavez began a love affair with the Man from Krypton as a child, amassing a now enormous collection of Superman dolls, mannequins, posters, comic books, mugs, curtains, rugs, bed sheets, throw pillows and trash bins.

In 1998 the then pimply and darker skinned young man began to tap Filipino cosmetic surgeons to achieve the likeness of the late Christopher Reeve, the most famous of the Superman stars. "Abroad, you'd need medical insurance and have to take a mental examination before you can have cosmetic surgery," he said.

"It's not as strict here. It's an individual decision, and luckily Filipino doctors are skilled at this." Chavez had his nose thinned out and got a cleft chin, had silicone injected for fuller lips, liposuction to flatten out his abdomen, and implants to bulk up his buttocks and hips. Each procedure costs several thousand dollars even in the Philippines, where medical costs are much cheaper than in the West, but Chavez declined to say how much he had spent. Out of costume, Chavez's geeky glasses -- reminiscent of Clark Kent, Superman's alter-ego -- are natural, as he is short-sighted himself.

Like Kent, Chavez's hair is parted on the right, but unlike the Man of Steel he does not switch over when he changes, instead allowing his jet-black curl -- achieved with the assistance of hair spray -- to dangle to the left.

In full costume Chavez cuts a striking Superman figure, although he is planning yet more surgery to make the resemblance stronger. Next on the agenda is to implant "six-pack" abdominal muscles, while he regularly injects himself with a drug that temporarily whitens his brown skin. But he has given up the thought of becoming as tall as the American Superman. At 1.7 metres (5 feet 7 inches), Chavez said having metal inserted into his leg bones to increase his height would be going too far, even for him.

"Instead of becoming Superman, you could end up in a wheelchair," he said. Chavez dons his Superman outfit at least once a week, most often when he gathers with other friends who enjoy cosplay, a social phenomenon in Asia where people dress up as fantasy characters. Chavez -- who is single -- acknowledged some may laugh at his obsession, but said people should respect his decisions.

"What you do to your own body is your own business. What is important is you don't step on anyone else's toes and you believe in God," he said.

"I do not have a bad motive and I am positive, so the only thing that would probably stop me from this is my own death."

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Today Philippines Market Factors to Watch

2011-10-12T23:32:00.000-07:00

MANILA, Oct 13 (Reuters) - Here are news stories and press reports which may influence local financial markets on Thursday:

WHAT IS HAPPENING TODAY IN THE PHILIPPINES:

- Day 2 of the Philippine Business Conference, Manila Hotel, with speakers Transportation Secretary Mar Roxas, Justice Secretary Leila de Lima, Chief Justice Renato Corona, and Chamber of Mines of the Philippines President Benjamin Philip Romualdez. President Benigno Aquino to deliver keynote speech at 8:00 p.m. [1200 GMT]

REUTERS NEWS - PHILIPPINES

> Philippines' net FDI inflow at 9-mth low in July
> C.bank to study policy easing as GDP forecasts cut
> Central bank says has policy flexibility
> Uniqlo parent sees profit up,to speed up expansion
> San Miguel says power IPO still possible this yr
> Philippines says typhoon damage at 1 mln T rice
> Aquino says no state funeral for Marcos

REUTERS NEWS - PHILIPPINES

- The Bureau of Treasury has disallowed the trading of the so-called PEACE bonds after the Bureau of Internal Revenue affirmed its ruling that the securities were subject to the 20-percent withholding tax. (PHILIPPINE DAILY INQUIRER)

- Advertising expenditures grew 15 percent in the nine months to September this year from a year earlier as corporations, particularly personal care and food companies, spent more on TV, Nielsen Media Research said. (THE MANILA TIMES)
- The Department of Environment and Natural Resources said it has approved the renewal of 10 exploration projects worth more than 426 million Philippine pesos ($9.8 million) (THE MANILA TIMES)
- The government is planning new policies to help revive the auto manufacturing and tire industries, putting local manufacturers in a position to export initially to other Southeast Asian countries.(BUSINESS-MIRROR)
- SB Equities Inc, a wholly owned subsidiary of Security Bank Corp , is in discussions with Malaysia's
second-largest bank CIMB Group Holdings Berhad for a co-branding arrangement, a company official said. (BUSINESSWORLD)

MARKET NEWS

> Thai stocks rebound;foreign funds return to Asia
> Stocks, euro rally on fund progress, momentum
> Gold rises on Slovakia deal, European optimism
> Euro up on Europe hopes; dollar/yen at 1-mo high
> Oil, metals gain on likely euro zone deal
> Won, Sing dlr off lows;some bet on Asia FX rebound

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Philipines Market Up for 4th Straight Day

2011-10-12T04:32:00.000-07:00

MANILA, Philippines—Local share prices rose for the fourth straight day, tracking gains posted by other Asian shares as Europe’s largest economies made pledges to provide aid to the region’s weakened banking sector.

The benchmark Philippine Stock Exchange index (PSEi) rose 1.7 percent, or 68.69 points, to 4,109.27, while the broader all-share index jumped 1.17 percent, or 33.77 points, to 2,912.50.

All sub-indices closed higher, led by services, which rose by 1.84 percent, or 26.01 points, to 1,437.60, followed by property shares, which increased by 1.82 percent, or 25.84 points, to 1,442.63.

A local brokerage firm noted that investors’ risk appetite may return following the reassurance of monetary authorities in both Europe and the US that they were ready to provide funds for recapitalization and additional stimulus if the recovery continued to falter.

On Monday night, the Dow Jones Industrial Average rose 2.97 percent, while the Standard & Poor’s and Nasdaq indices climbed 3.41 percent and 3.5 percent, respectively.

Among the day’s top gainers were Empire East Land (10.17 percent), Manila Electric Co. (5.56 percent) and Robinsons Land (5.22 percent).

Leading the list of losers was Boulevard Holdings Inc., which shed more than 35 percent after announcing on Tuesday that its potential megadeal with South Korean investors fell through.

Advancers edged decliners 75 to 67, while 34 stocks were unchanged.—Paolo G. Montecillo

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones. Subscribe and get several chances to win tickets to the Black Eyed Peas concert in Manila as well as tickets to Stomp. Promo details. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

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Philippine gaming market seen growing fivefold in 5 years

2011-10-10T21:48:00.000-07:00

The Philippine gaming market can grow fivefold over the next five years with the opening up of the local industry, breaking the monopoly previously held by state-run Philippine Amusement and Gaming Corp. (Pagcor).

Belle Corp., one of four companies authorized to put up hotels and casinos at the Pagcor Entertainment City in Parañaque City, said the prospects were bright for the gaming industry, which is expected to attract customers from across the Asia-Pacific region.

“The Macau gaming market is worth about $35 billion in revenues. The Philippine gaming market makes only $1 billion. For us to get just 2 to 3 percent of that market means we can double our own revenues,” Belle Corp. vice chairman Willy Ocier said.

The company listed P4.5 billion worth of shares on Monday. These were issued earlier this year as part of a stock rights offering. Proceeds of the offer will be used to fund the construction of the company’s Belle Grande Manila hotel and casino. The company hopes to open the project by the first quarter of 2013.

Speaking to reporters on Monday, Ocier said the liberalization of gaming industries in different countries have always resulted in an exponential increase in revenues, contributing to job creation and better economic prospects.

In Macau, which is now the world’s leading gaming market, industry revenues were at about $1 billion a year when businessman Stanley Ho monopolized the market. Opening up the industry paved the way for the entry of leading hotel and casino operators, helping the industry grow to where it is now.

Another example is Singapore, where revenues are now at $5 billion a year, up from zero three years ago. Ocier said the island-nation was able to achieve this feat with just two casinos—Resorts World in Sentosa and the Marina Bay Sands.

He said the Philippine Gaming Market has been able to duplicate this to some extent when private companies were allowed to put up casinos. He said that Resorts World Manila, the hotel-casino venture operated by Andrew Tan’s Megaworld Corp., was able to double the market’s size on its own.

Once the hotels and casinos at the Pagcor Entertainment City are operational, Ocier said the country would be able to attract more foreign tourists, particularly from China. The four groups participating in the Pagcor project are required to put up 8,000 hotel rooms each before they can be allowed to operate a casino.

“We are confident to see the Philippine market grow to as much as $2 billion to $5 billion in size in the next five years,” Ocier said. Mainland China will likely be the main market for local casinos. At the moment, Macau is the most convenient market for Chinese customers. “But every Chinese citizen is allowed to visit Macau only once every three months. So the only other choices for avid gamers are the Philippines and Singapore,” Ocier said.

“Singapore is four hours away by plane from southern China. The Philippines is much nearer,” Ocier said. “A lot of people want to go to the Philippines and they are just looking for a reason to do so,” he said.

Aside from Belle, other franchise holders for the Pagcor Entertainment City are Japan’s Aruze Group, Megaworld and Bloombury Investments of businessman Enrique Razon Jr.

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Why the US dollar is strong & why the peso softened?

2011-10-09T22:34:00.000-07:00

We have been asked by our investors why the US dollar is strong lately and why the peso softened. Just when almost everyone has given up on the US dollar, it recorded its strongest one-month rally since 2008 (up 5.6 percent in September alone). We believe that a variety of fundamental reasons are supportive of the US dollar over the short term:

EU debt crisis – The euro which makes up 60 percent of the US dollar index collapsed last month on the weight of the escalating EU sovereign debt crisis. Despite the German vote for a stronger EFSF bailout fund two weeks ago, the Euro plunged lower, closing at 133.91 last Friday. The troika of the European Commission, the ECB and the IMF has so far failed to alleviate concerns of an inevitable Greek default and its subsequent fallout to its periphery.

Risk-off trades – The US dollar is also benefiting from the flight to cash as global assets are sold en masse on “risk off” trades. According to EPFR Global, a leading supplier of fund flows and asset allocation data, at least $20 billion were pulled of every asset considered as a risky asset in September alone. Specifically, the high-yield bond funds and emerging market equities have seen huge pull outs of funds. Even commodity funds were not spared and have experienced negative flows, including gold funds and silver funds. The massive redemptions in the month of September caused huge declines in commodity prices not seen since 2008.

Safe haven currency – If the US dollar is strong, it is not because the US economy is strong itself, but because other traditional safe havens like the Swiss franc and the Japanese yen has been taken out of the game. Last month, the Swiss and Japanese authorities decided to take aggressive action to cap further currency gains in order to protect their domestic and export industries. The US dollar was left as the only safe haven currency option.

The Swiss franc, which throughout of the year was the recipient of funds flowing out of the euro, fell 12.7 percent against the US dollar last month after the Swiss National Bank decided to cap its currency at 1.20 Swiss francs per euro. The commodity currencies such as the Aussie dollar and the Canadian loonie fell 9.8 percent and 7.4 percent for the month, respectively, as commodity prices pulled back sharply in September.

Asian currencies declined 5.6 percent led by the Korean won and Singapore dollar which were down 10.4 percent and 8.5 percent, respectively, in September. Exporting economies such as South Korea and Singapore are seen to be among the worst hit as Europe and US fail to address their slowing economies.

Meanwhile, the Philippine peso which we touted as among the more stable currencies in the world (see PIGS vs. TIP, Aug. 22, 2011) finally succumbed to stronger US dollar pressure, but nonetheless remained relatively strong versus other currencies. The peso fell only 3.6 percent in September, which is way better than the 6.9-percent average decline of major currencies and the 5.6-percent average loss of Asian currencies vis-à-vis the US dollar.

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Media & entertainment central to daily life in the Philippines

2011-09-30T06:49:00.000-07:00

MUMBAI: Whilst Television remains the channel of entertainment in Philippines with which people spend the most of their time, there are striking differences between social classes and age groups.

Television

According to Global market research firm Synovate latest study, Media Atlas Philippines, 57 per cent of tTelevision hose aged 15 to 24 access the Internet, as opposed to just 15 per cent aged 55 years or older. For those with home Internet access, there has almost been a complete switch to wired and wireless high speed or broadband services, with just 10 per cent still on dial-up systems.

Synovate MD Philippines Carole Sarthou says, "Access to the Internet is often seen as important for education, business and personal life. Some countries are even considering making access a fundamental right. At this stage, 36 per cent nationwide have Internet access. Whilst 68 per cent of the AB upper socio groups claim to have Internet access, the figures drop to 29 per cent for D socio and 14 per cent for the lowest grade - E socio."

The Philippines has often been described as the SMS capital of the world. 97 per cent of those with mobiles have the ability to send / receive SMS, and the overwhelming majority across all age groups uses it. Other popular features are Mobile Gaming, taking photos and listening to music.

Filipinos are very social: of those with Internet access, the top activity is communicating with people via email or chat - seven out of ten people do this - and social networking occupies four out of ten online users. Information search is used by 56 per cent, showing how empowering the Internet can be.

Newspapers remain a firm favourite, with 30 per cent of the population reading one or more local language or English titles. Close to one quarter (24 per cent) read magazines.

Synovate executive director - media Steve Garton says, "Print readers tend to be more upscale, offering good targeting opportunities to advertisers. English dailies and magazines offer their highest reach into the important Greater Manila Area where higher socio targets are at their most concentrated."

In terms of other lifestyle characteristics, visiting a sari-sari store remains the first choice for 88 per cent of Filipinos in the past month, followed by seven in ten going to pharmacies / drug stores and wet markets.

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Philippines - Market factors to watch - Sept 29

2011-09-29T05:00:00.000-07:00

MANILA, Sept 29 (Reuters) - Here are news stories and press reports which may influence local financial markets on Thursday:

WHAT IS HAPPENING TODAY IN THE PHILIPPINES:

- ASEAN 100 Leadership forum: One ASEAN, How Close are We?, Shangri-La Makati Hotel, 9:00 a.m. to 6 p.m. [0100 to 1000 GMT]

- Second day of the 8th International Technology Exhibition & Conference on Energy, Power and Electrical Engineering, SMX Convention Center

REUTERS NEWS - PHILIPPINES

> Philippines counts cost after typhoon departs

> Philippines puts typhoon crop damage at $16.6 mln

> ASEAN agrees data-sharing to fight militants

> Philippines eyes retail T-bond sale in mid-Oct

> NiHAO signs marketing deal with Glencore

> Cbank sees one-off inflation impact from typhoon

> Marubeni venture to expand Philippine power plant

LOCAL PRESS REPORTS

(Reuters has not verified these stories)

- Debt watchers have agreed with the Philippines' claim of improved macroeconomic foundations, a development that could boost the country's chances of gaining an investment grade rating, central bank governor Amando Tetangco said.

(BUSINESSWORLD)

- The Philippine government has signed a $500 million credit line with the World Bank for emergency relief and post-disaster reconstruction. (ALL PAPERS)

- The Philippine Stock Exchange said it had deferred the launch of a new board showcasing firms with high governance standards, called the Maharlika Board, which was originally set for this month. (BUSINESSWORLD)

- The proponents of Maibarara geothermal power project, including Trans-Asia Oil and Energy Development Corp , have signed a 2 billion peso ($46 million) loan agreement with

Rizal Commercial Banking Corp . (ALL PAPERS)

- Security Bank Corp said it was looking to raise as much as 10 billion pesos via long-term certificates of

deposits offering higher yields to investors. (PHILIPPINE DAILY INQUIRER, MANILA STANDARD TODAY)

- Belle Corp has extended until Thursday its 4.5 billion peso stock rights offer, which was supposed to end on Tuesday, due to Typhoon Nesat.

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Philippines cleans up after Typhoon Nesat

2011-09-27T23:09:00.000-07:00

A huge clean-up operation is under way in the Philippines After Typhoon Nesat battered the capital Manila and the main island, Luzon.

The death toll rose to 18 with 35 still missing after heavy rain and powerful winds triggered storm surges.

Most deaths occurred in and around Manila, officials said.

Most deaths occurred in and around Manila,

Nesat is now in the South China Sea with 120km/h (75mph) winds and due to reach China's Hainan Island on Thursday evening or early Friday.

Power supplies were gradually being restored to central Manila on Wednesday, officials said, and services on the Metro resumed.

However, more than a million people in Luzon remained without power.

Emergency teams were clearing away fallen trees, debris and broken-down cars while schools and offices reopened.

Civil defence chief Benito Ramos said crews were also repairing and clearing 61 road networks across Luzon damaged by landslides, debris and flooding.

Some areas are still under water including Manila Ocean Park and Taft Avenue. The US Embassy, which was flooded on Tuesday, remained closed.

City Mayor Alfredo Lim said huge waves had breached the sea wall allowing water from Manila Bay to engulf wide areas.

"This is the first time that this kind of flooding happened here," he said.

Flooding in Luzon was made worse when the government released water from four dams that had reached critical levels in Bulacan province.

Meanwhile, another tropical storm brewing in the Pacific Ocean could hit the Philippines within the week, the state weather bureau warned.

"We need to finish emergency work in the aftermath of Nesat before this storm comes," Mr Ramos said.

"We are praying for the skies to clear a little bit today."

Nesat, which had a diameter of 650km (400 miles) and carried gusts of up to 170km/h (105 mph), made landfall just before dawn on Tuesday on the Pacific coast.

The Philippines suffers frequent typhoons but Nesat is thought to be the largest this year.

It comes almost exactly two years after Typhoon Ketsana killed more than 400 people.

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More jobs for call center agents seen

2011-09-26T23:40:00.000-07:00

NEW York City (via PLDT) -- Good news, President Benigno “Noynoy” Aquino III’s speaking engagements here could result to additional jobs to Call Center agents in the country after another leading business process outsourcing company has chosen the Philippines as one of its “model centers.”

Call Center Jobs

Bill Bloom, executive vice president of EXL Services, a leading provider of outsourcing and transformation services to Global 1000 companies in multiple industries, called on President Aquino at the Omni Berkshire hotel here yesterday to tell him of their company’s growth and expansion programs in Manila.

Bloom said their commitment will supply the growing demand for highly trained and skilled workers to cater to clients with “higher end” needs.

He said they now have a growing base of clients who need higher end services than traditional call center work. Called “middle office,” this type of higher end services caters to work needed by professionals in health and business fields.

“So that would include work that is typically provided to physicians, nurses or lawyers or accountants and we’re building models such that we can offer those services to our clients here in the U.S. from our centers in the Philippines,” said Bloom.

At the same time, President Aquino also welcomed Jeffrey Fox, president and CEO of Convergys Corporation or a top U.S. Business Process outsourcing company, recommitment’s to partner with government in its advocacy to alleviate poverty, provide more jobs and spur economic growth through its recommitment to invest in the Philippines.

Business Process

Fox told the President of his company’s recommitment plans during a courtesy call the executive made to the Chief Executive at the Guggenheim Room of the Omni Berkshires Hotel here yesterday.

He said Convergys was cognizant of the opportunity for growth any one would have when investing in the Philippines and that the company was taking definite steps to ensure that the partnerships between the two remain strong.

“(I met with President Aquino) to re-emphasize the partnership and growth opportunities that Convergys and the country of the Philippines have together and to confirm our long-term commitment to invest in the Philippines,” said Fox.

Fox added that he took the time to personally thank the President for all the help he has done in making the BPO industry in the country flourish. “We appreciate everything that the government does to make sure that we’re good partners,” said Fox.

Fox said the President likewise recommitted that he and his government’s support for the industry. “The President has a history of being engaged and very supportive of not only our industry but I think all industries that can bring quality jobs to the Philippines,” said Fox.

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15 Dead in Philippines Clash

2011-09-26T00:25:00.000-07:00

Philippine authorities say 13 suspected Muslim militants and two marines were killed Sunday in the southern Philippines, when a little-known rebel group attacked a military outpost on Jolo island.

A military spokesman, Lieutenant Colonel Randolph Cabangbang, said about 50 gunmen attacked the garrison, triggering a two-hour battle near a village in Sulu province. He said 13 of the assailants' bodies were later recovered, and said five marines were wounded.

He tied the pre-dawn attack to a radical organization with ties to the al-Qaida-linked Abu Sayyaf militant group.

Abu Sayyaf, long active in the Southern Philippines, first appeared in the 1990s and is considered a terrorist organization by Washington and Manila. It is accused of carrying out some of the worst terrorist attacks in recent Philippine history.

The group, which uses kidnappings and extortion to raise money, claimed responsibility for the 2004 bombing of a ferry near Manila Bay that killed more than 100 people.

It is currently thought to have fewer than 400 members.

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Philippines not welcome foreign tourists seeking for "Darker Reasons"

2011-09-23T06:16:00.000-07:00

MANILA, Sept. 23 (Xinhua) -- The Philippine Government welcomes foreign tourists who are seeking "good, clean fun and excitement" and not for "darker reasons," a senior government official said on Friday.

This was in response to the statement made by United States Ambassador Harry Thomas Jr. who earlier said that up to "40 percent" of foreign male tourists come to the Philippines for sex.

"The statistics the good ambassador cited are not what our official statistics reflect," Department of Tourism (DOT) Secretary Ramon Jimenez Jr. said.

He said DOT's data showed that shopping and sightseeing are the dominant activities for both male and female tourists visiting the country.

welcomes foreign tourists who are seeking "good"

"Our message to all tourists is simple: you are welcome to the Philippines anytime for good, clean fun and excitement. If you are coming for darker reasons, we don't need your business,"

13 Year Old Boy Shoots Alleged Lover & Then Self...

2011-09-21T23:25:00.000-07:00

PHILIPPINES - A 13-year-old boy shot himself in the head after shooting his male friend in front of a restaurant at the SM City Pampanga here on Tuesday, police said.

The boy, who was armed with a .22 cal. handgun, and his friend, who police said is in his 20s, were taken to the San Fernandino Hospital here but doctors have yet to provide updates on their conditions at 2 p.m.

The incident came barely a week after a woman shot and killed her estranged husband and a guard inside another branch of SM in North Edsa in Quezon City in what authorities said was a crime of passion.

In Pampanga, police said the two could have been in a homosexual relationship.

Mexico police chief Superintendent Wilson Santos said that a suicide note was found in the boy's pocket.

"Willing na mamatay (to die) together with (the name of his friend)," the boy purportedly wrote in his suicide note.

Santos said the incident happened around 11:45 a.m. as the two walked out of the Congo Grill in the Mexico, Pampanga side of the mall.

Santos, quoting witnesses, said the two were seen seated in front of the restaurant minutes before the shooting happened.

No shopper was hurt in the incident, he said.

Santos said police are questioning security personnel of the mall to establish how the boy was able to bring in a gun despite security checks.

This was the second shooting incident inside an SM mall in a week.

Last Wednesday, Shiela Macapugay shot and killed her husband, Abel, who worked as a promo merchandiser in an appliance store in SM North Edsa after he left her and their five-year-old daughter for another woman.

Mall security guard Ricardo Inamac III was also killed when he allegedly tried to stop the woman from committing suicide.

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Education won't fix jobs crisis

2011-09-20T22:28:00.000-07:00

Curing the ills of rich nations is no easy task. The International Monetary Fund’s flagship yearly outlook laments a jobs crisis and rising inequality among its wealthier members. But its prescription of more education spending is unlikely to do the trick. Though desirable in many ways, such outlays aren’t the golden ticket economists often claim.

It’s hard to quarrel with the IMF’s diagnosis. While the great compression in global living standards may have lifted millions out of poverty in poorer countries, a growing band of workers in advanced economies is being left behind. As the IMF shows in this year’s World Economic Outlook, the worrying trend started long before the 2008 slump. Between 1993 and 2006, Middle-Income Jobs were harder to come by in most developed nations.

The IMF’s insistence on a skills upgrade is at best a partial solution. For individuals, such improvement generally helps land Better jobs. For nations, however, it’s far from clear that education is an economic panacea.

An upgraded system for teaching a citizenry is often a reward of prosperity, not its cause. For example, Taiwan had a literacy rate of just 54 per cent in 1960, compared to 72 per cent for the Philippines. Yet it is Taiwan that has grown explosively and now boasts a GDP per capita roughly 10 times its Asian peer.

Even the vaunted boost from higher education relies on scant evidence. Switzerland’s university enrolment rates were around a third the average of developed nations until the 1990s yet it managed to become one of the world’s most industrialized nations, according to work by Cambridge economist Ha-Joon Chang. Thus, superior education alone doesn’t necessarily boost a country’s overall Stock of Jobs.

Of course, such spending benefits societies in myriad ways – lowering birth rates for poor nations and improving social cohesion in rich ones. But expecting it to insulate workers in wealthy countries from the chill winds of global competition may be asking too much. If anything, they already spend more than is economically necessary on this precious service. The quest for remedies must go on.

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37th Metro Manila Film Festival

2011-09-20T06:52:00.000-07:00

MANILA, Philippines – FIRST TIME – Trust Atty. Francis Tolentino, chairman of the Metropolitan Manila Development Authority (MMDA) to widen the scope of the Metro Manila Film Festival (MMFF). He announced that for the first time a student short film category has been included in this year’s filmfest.

MMFF is now on its 37th year.

Last year, five independent films were included in the MMFF, another first under the leadership of the MMDA chairman.
—
‘OTHER SIDE’ – “We must raise the awareness of the Filipinos to the ‘other side’ of Philippine cinema – the indie films and original short movies created by students,” Tolentino said.

Five indies and 10 student short films, selected by a panel of jurors, will be shown from Dec. 18-21.

MMFF runs every year from Dec. 25 to the first week of January.

To qualify, a student short film must not exceed 12 minutes, while the feature film (indie), a minimum of 60 minutes and a maximum of 115 minutes.

All entires must have been produced between Jan. 10, 2010 and Oct. 31, 2011. They must be submitted in DVD format with Pilipino and English subtitles.
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DEADLINE, PRIZES – Deadline for submission of entries to the MMFF office is Oct. 30.

Student filmmakers should also submit to the MMFF an endorsement letter from the principal, dean, or department head of their schools, stating that it is the school’s official entry.

The director of the best indie will receive P100,000. The school of the best student film will receive P25,000. An Audience Prize will be given to the student film with the biggest number of ticket sales.

Director Mark Meily is the committee head of the MMFF independent section.

Last year’s best indie film was “Presa,” directed by Adolf Alix.
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RECOGNITION – MMDA Chairman Tolentino noted that indies win recognition abroad, in different international film festivals. Critics wrote glowing reviews. He’s hopeful the public will also patronize them.

Well, in fact indies are starting to attract moviegoers in mainstream theaters. “Ang Babae sa Septic Tank” and “Zombadings” made money.

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Automobili Lamborghini S.p.A. appoints PGA Automobile as Philippine sole importer and distributor

2011-09-19T06:24:00.000-07:00

MANILA, Philippines
- The Italian ultra-luxury sports car manufacturer Automobili Lamborghini S.p.A. officially appoints PGA Automobile, Inc. as its authorized sole importer and distributor in the Philippines. The appointment covers sales and retail of Lamborghini’s exclusive Sports Cars, the iconic Gallardo and new Aventador LP700-4.

This will be supported by the full complement of aftersales capability, utilizing a dedicated service facility equipped with a comprehensive set of specialized tools for the various models in the Lamborghini range.

Shown in photo are PGA Automobile Chairman Robert Coyiuto, Jr. (third from left), Lamborghini Manila President Roberto Coyiuto III (leftmost) and Lamborghini Manila General Sales Manager Enrique Jarlego II (rightmost) with Automobili Lamborghini S.p.A. President and CEO Stephan Winkelmann (second from left) and Automobili Lamborghini S.p.A. General Manager Christian Mastro (fourth from left).

Auto Mobili Company

Lamborghini Manila, the first Lamborghini facility in the country, will soon open in Bonifacio
Global City. The new Lamborghini showroom will be built in accordance with Lamborghini’s international showroom standards.

Philippine Troops kill 3 Militants,

2011-09-19T05:40:00.000-07:00

MANILA, Philippines — Dozens of army troops killed three Abu Sayyaf militants and rescued a kidnap victim Monday in a clash in the southern Philippines, officials said.

Army troops killed three Abu Sayyaf militants

The rescued businesswoman, Luisa Galvez, an army soldier and at least seven militants were wounded in the gunbattle that raged in a hinterland village near Sumisip town on Basilan island, regional military spokesman Lt. Col. Randolph Cabangbang said.

Three platoons of army scout rangers were searching for gunmen reported by villagers when they stumbled on an undetermined number of Abu Sayyaf militants, setting off a clash that killed three of the gunmen. The other militants fled and troops later found Galvez abandoned at the scene of the battle, Cabangbang said.

“The soldiers were unaware that the Abu Sayyaf men were holding a hostage in the area,” Cabangbang said.

The stunned Galvez, who was slightly injured on her leg, was taken to a military camp, he said. Troops were pursuing the fleeing militants in predominantly Muslim Basilan, the birthplace and a stronghold of the Abu Sayyaf militants about 550 miles (880 kilometers) south of Manila.

Galvez, 34, was seized Sept. 4 by three gunmen who posed as customers at her beauty salon in Ipil town in Zamboanga Sibugay province, police said.

Desperate for funds, the al-Qaida-linked Abu Sayyaf has resorted to kidnappings, targeting people who could hardly pay ransom. Last year the group carried out at least 11 kidnappings and raised about $704,000 in ransom, according to a confidential Government report seen by The Associated Press in February.

They killed at least six hostages whose families failed to pay ransom last year, the report said.

The Abu Sayyaf, which has close to 400 fighters with more than 300 firearms, remains without a central leader after several of its top commanders were killed or captured by troops in recent years. Its two biggest factions are based in Basilan and in nearby Sulu province.

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Philippines senator wants dog meat investigation

2011-09-17T22:32:00.000-07:00

Philippines Senator Manuel Villar Jr. is hoping to open an inquiry into the reported prevalence of the illegal dog meat trade to tighten existing animal protection laws.

However, local animal rights activists say it is not enough, arguing that the senator wants to maintain the practice “and not do the right thing by ending dog slaughter altogether.”

Maria Pillar told Bikyamasr.com that “the use of dogs for food is wrong and backward. Just because it was traditional in the country doesn’t mean we should keep it. It was part of our culture to keep women at home, but that has changed.”

Villar has filed a resolution urging the Senate committees on trade and commerce and local government, to hold Public hearings on the matter.

“There is an urgent need to end cruelty to animals as espoused in the Animal Welfare Act,” Villar said.

Around 500,000 dogs are slaughtered for sale every year, he said.

The Philippines’ dog meat industry brings in some P174 million annually, according to the nongovernment organization Linis Gobyerno.

Villar said that dog meat has entered into mainstream consciousness and has spawned a dish called “asocena” which is meant to be eaten as a side dish during drinking sessions.

Dog meat eating has existed as a long-standing cultural phenomenon in the Northern provinces of the Philippines, traditionally associated with celebratory events and rituals of mourning.

“Through the years, incidences of illegal dog trading has increased for commercial rather than cultural reasons, as evidenced by numerous raids and seizures initiated by concerned animal rights groups in cooperation with local police authorities,” Villar said.

He noted that the Philippine Animal Welfare Act of 1998 states that ”it shall be unlawful for any person to torture any animal, to neglect to provide adequate care, sustenance or shelter, or maltreat any animal or to subject any dog or horse to dogfights or horsefights, kill or cause or procure to be tortured or deprived of adequate care, sustenance or shelter, or maltreat or use the same in research or experiments not expressly authorized by the Committee on Animal Welfare.”

Different types of animal in Philippines

It is provided in the same law that the killing of any animal other than cattle pigs, goats, sheep, poultry, rabbits, carabaos, horses, deer and crocodiles “is likewise declared unlawful.”

Villar said that rescued dogs bound for makeshift slaughterhouses were found with their front paws tied behind their backs and their muzzles gagged with a nylon cord or in jagged, rusty tin cans which cause their tongues to be swollen.

“During transport, the dogs are often crammed into cages, with some even trussed in sacks, which leaves them gasping for air. in their miserable condition, some dogs die even before reaching their destination,” he said.

During slaughter, dogs are often clubbed or have their throats cut while still conscious, their fur is singed off with a blowtorch, and their bodies dismembered for ready distribution to restaurants or small eateries, he said.

He noted that a dog meat trader arrested in Tondo, Manila in September 2010 scalps dogs instead of burning their fur and skin with blowtorch, as is the usual practice, to avoid emitting strong odors which could annoy the community.

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Philippines Business Process Outsourcing Made Easy Helps Investors And Clients Set Up Business

2011-09-17T06:33:00.000-07:00

Makati City (OPENPRESS) September 13, 2011 - It is an established fact that the business process outsourcing industry in the Philippines is of great potential. With the country's highly skilled Low-cost labor, English language skills proficiency, adherence to industry standards and government tax incentive laws, the most Westernized culture in Asia guarantees ease in doing business. Indian BPOs, competitors that they are, even decide to set up their own outsourcing companies in the Philippines or buy existing ones.

Very low-cost-chailds-labor

Philippines Business Process Outsourcing is a Philippine-based firm that offers client investors assistance services. Operated by Dayanan Philippines BPO Consultants, the firm offers extensive Philippines BPO registration services ranging from setting up BPO and incorporation to obtaining branch office registration, business permits, as well as registrations in Philippine Export Zone Authority and Board of Investments.

The official website PhilippinesBusinessProcessOutsourcing.com details how the Philippines is fully equipped with all the necessary structures in place for a company setup. Multiple internet and VOIP providers, and major international software, IT and hardware vendors all have Philippines offices.

PhilippinesBusinessProcessOutsourcing.com highlights that there are over 50 animation studios in the country with revenues of up to US$105 million in 2007. As such, the promising Philippines Animation outsourcing industry makes a lucrative venue for investment in the country.

PhilippinesBusinessProcessOutsourcing.com is available to assist clients in setting up their own animation studio or find an existing studio for BPO needs.

Similarly, medical providers, pharmaceutical companies, medical equipment suppliers, healthcare IT service providers, insurance companies and third-party players are all reaping the benefits of the Philippine BPO industry. Healthcare Information Management outsourcing, which includes competitive Philippines Medical Transcription outsourcing, makes a lucrative business venture.

PhilippinesBusinessProcessOutsourcing.com clients need not be large multinational businesses to reap the benefits of Philippines outsourcing. Moreover, clients that do not want to set up their own business in the country can also turn to the website to help find a company they can outsource for it.

Foreign investors considering to engage in business in the Philippines or seeking Philippines BPO registration should check out www.philippinesbusinessprocessoutsourcing.com and discover what the country's competitive industry has to offer.

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