Download News Feb 11 2013

February 11, 2013
Untapped export potentials identified
(PHILEXPORT News & Features)
UNTAPPED EXPORT potentials for the country include the manufacturing of
halal foods and doing business with Peru, the Philippine Exporters’
Confederation (PhilExport) said in a statement over the weekend.
Lending prospects better -- BSP poll (Can also be read in Manila Bulletin)
CREDIT STANDARDS eased and loan demand rose in the fourth quarter of
2012 on the back of a booming economy and the accompanying low interest rate
environment, the central bank said.
Stocks may trade within range (Can also be read in Philippine Daily Inquirer,
Manila Times, Manila Standard Today)
STOCKS may move sideways this week as investors take profit from gains in the
previous weeks while optimism over the economy’s growth and corporate
earnings may provide support.
15th Congress’ output noted
THE 15TH CONGRESS’ output was said to have exceeded expectations given
the number of priority measures passed.
Corporate debt issuances rise; outlook upbeat
THE VOLUME of corporate notes listed on the fixed income bourse rose
significantly last year and is expected to further rise this year as more firms seek
to take advantage of a low interest rate environment, high liquidity in the financial
system and a positive outlook on the Philippine economy.
Peso may trade sideways vs dollar
THE PESO may be range-bound against the dollar this week with its movement
to depend on the economic data to be released by Japan and the euro zone,
analysts said.
‘Pockets of concern’ noted
STEEP PRICE INCREASES in the real estate sector are creating "pockets of
concern" but overall there is no cause for alarm just yet, a Bangko Sentral ng
Pilipinas (BSP) official said.
“Government debts sustain rally as funds continue to exit SDAs“
GOVERNMENT debt papers continued to rally, with yields at the long end of the
curve declining the most as the market continued to be awash with cash after
the central bank cut its special deposit account (SDA) rates last month.
‘Currency wars’ again on global agenda (Can also be read in Philippine Daily
Inquirer)
THE STRENGTH of the euro, the state of the global monetary system and
controversy over a so-called “currency war” will dominate the economic stage at
euro zone and G20 ministerial meetings this week.
Coconut oil exports surge as of January (Can also be read in Manila Standard
Today, Philippine Star)
COCONUT OIL exports nearly doubled as of last month as the global demand
for the product continues to "normalize," an industry official said.
DENR allots P4.977M for mangrove transplant
THE ENVIRONMENT department has allotted P4.977 million for the removal and
transplant of mangrove trees and nipa clumps in Dungon Creek and Batiano
River in Iloilo to prevent flooding caused by overflowing.
IPP consultations set to begin this month
CONSULTATIONS for the crafting of this year’s Investment Priorities Plan (IPP)
is set to begin this month as the Trade department determines its composition.
Evaluation of Davao port’s goods ordered
DAVAO CITY -- The Department of Finance has ordered the Bureau of Customs
to review the average declared value of containers that enter the Davao port as it
noted the value being declared was lower than usual.
“Is it only the rich getting richer?”
Written by: Fence Sitter -- A.R. Samson
NO MATTER how robust the growth of the economy has been, it can still invite
critics who snarl: What growth? Instead of noting that GDP’s 2012 rise
exceeded expectations at 6.6%, they want to talk about income distribution.
"Jobless growth," which is now more acceptably referred to as the failure to
achieve "inclusive growth," is how they describe the sweet spot combining high
growth with low inflation. If times are so good, critics will ask, why is
unemployment still at 6.8%? This is followed by the song-and-dance about only
the rich getting richer. Implied here, and often bluntly stated, is the conviction
that the poor are getting even poorer.
Low Inflation To Sustain Growth
The Bangko Sentral ng Pilipinas (BSP) reported that in the next four years or
until 2016, the growth of the economy will be sustained on a low inflation
environment.
RP Mulls ICT ‘Sensitive’ List
The Philippines mulls drafting a “sensitive” list of information, communication and
technology (ICT) items that should be slapped with high tariff walls to protect
local industries and an “offensive” list.
Going Organic
The last decade has seen a growing number of people appreciate the benefits of
organic products, and embracing the principles and the technology behind it.
China Port Operators Investing Overseas
China’s state-owned port operators are stepping up their investments abroad,
taking advantage of depressed asset prices at a time when the global shipping
downturn has forced other firms to cut debt by offloading assets.
Japanese Carriers Cite Tough Times In Shipping And Air Freight
Leading Japanese shipping lines – NYK, K Line and Mitsui OSK Lines posted
mixed results, but all three reported tough times in shipping and air freight,
according to Transport Intelligence (Ti).
Exporters urged to explore Peru
(PHILEXPORT News and Features)
The Philippine Exporters Confederation Inc. (Philexport) is encouraging local
firms to explore the possibility of doing business in Peru, citing opportunities in
the manufacturing and mining sector among others.
NEDA: Returning OFWs to boost MSMEs in the country
MANILA, Philippines - Overseas Filipino workers (OFWs) returning to the country
are expected to give the micro, small and medium enterprise (MSME) sector a
boost as the government sets up entrepreneurial programs for their reintegration,
the National Economic and Development Authority (NEDA) said.
Prices of goods to remain stable
Prices of basic goods are expected to remain stable in the coming weeks given
ample supply, except for fish and vegetables which may be affected by
seasonality, the Department of Trade and Industry (DTI) said.
Index seen pushing past 6,500 pts this week
Local news, particularly the slew of reports on corporate earnings and economic
managers’ updates, will lead the main index past the 6,500 level this week.
Hot money inflow to boost peso – BSP
While currently remittances and export receipts are driving the peso’s strength,
the Bangko Sentral ng Pilipinas (BSP) said portfolio inflows – which could easily
be taken in and out of the economy – could also boost the currency this year.
Cloudy skies, rains in parts of PH due to northeast monsoon (Can also be read in
Manila Times)
MANILA, Philippines – The northeast monsoon or “hanging amihan” will continue
to prevail over Luzon while several parts of the country will have cloudy skies
with light to moderate rains, the state weather bureau said Monday.
Responding to the need to create culture of ethics
MANILA, Philippines—Corporate governance has become a buzzword in today’s
business world. With greater connectivity and the rise of social media, investors
and consumers are increasingly monitoring—and demanding—better corporate
governance.
Thai oil firm’s PH unit investing P400M in ’13
PTT Philippines Corp., the local subsidiary of Thailand’s biggest oil firm, is
beefing up its presence in the country as it plans to spend about P400 million this
year for the expansion of its retail station network.
Good year ahead seen for property sector
The Philippine property market is headed for another good year this 2013, with
urban land values and rental rates in Metro Manila likely to firm up alongside
benign vacancy rates, according to property consultant Colliers International.
The 15th Congress’ surprising output: A bumper crop of reform measures
Written by: Walden Bello
It was disappointing, the way the last session of the 15th Congress ended, with
the Senate in turmoil over Senate President Juan Ponce Enrile’s gestures of
feudal favoritism with the people’s money and the House of Representatives’
unconscionable failure to pass the Freedom of Information Bill. But its
tragicomic last act should not bury the fact that this Congress had a bumper crop
of progressive measures strengthening social, political, and human rights.
Politics as Business
Written by: Manuel F. Almario
One of the biggest drawbacks to our economic development is the way our
Congress allocates and distributes the “pork barrel,” now known as the Priority
Development Assistance Fund (PDAF). Contrary to the general perception, our
pork barrel system is unique in the world. It amounts to an “entitlement” to all
members of Congress for them to determine individually how the national funds
are to be spent in their particular districts or constituencies.
China now world’s No. 1 trading nation
CHINA surpassed the US to become the world’s biggest trading nation last year
as measured by the sum of exports and imports, a milestone in the Asian
nation’s challenge to the US dominance in global commerce that emerged after
the end of World War II in 1945.
Television networks at the forefront of Corporate Social Responsibility
While television networks are in a dash to clinch leadership on the broadcast
industry, their corporate affiliates tasked to defuse their serious commercial
competition also race to places where the population are in a different struggle.
These are foundations that reach out to the communities with projects related to
livelihood, health, and environment.
Giving back to the community
The domestic automotive industry is a multibillion-peso-business with 20 major
players fighting for a slice of the consumer pie. With investments spread across
the country, these corporate entities and related industries contribute a lot to our
economy. Aside from the taxes earned from their business and sales operations,
automotive firms also do their part in providing much needed jobs and reforms in
the rural countryside in terms of Corporate Social Responsibility (CSR) projects.
Understanding and embracing CSR
Decades after its introduction, the term ‘corporate social responsibility’ (CSR) has
long ceased to be just another boardroom jargon; or some corporate philosophy
paid with mere lip service. The concept has since been widely adopted; breaking
into the mainstream corporate culture and evolving into a form of corporate selfregulation fully integrated in a firm’s business model.
BSP closely watches property, stock prices
The Bangko Sentral heightened the monitoring of real estate and stock prices as
well as the credit standards of banks to detect signs of risks to the financial
system.
Manila Water promotes development
Manila Water Co. Inc., the concessionaire for the east zone of Metro Manila,
committed to stimulate local and national development through various social
development programs.
January hot money rose 120% to $1.2b
Net foreign portfolio investments in the country as of Jan. 25 this year surged to
$1.2 billion, data from the Bangko Sentral ng Pilipinas showed over the weekend.
Coconut changes her life
“He who plants a coconut tree plants food and drink, vessels and clothing, a
home for himself and a heritage for his children.”
PH needs to tap economic potentials of other regions
(PHILEXPORT News and Features)
THE Philippines needs to tap the full potentials of other regions in a bid to sustain
its strong economic performance and achieve inclusive growth.
Manufacturing capable to produce RE products
(PHILEXPORT News and Features)
THE Philippine manufacturing sector is fully capable of developing capacity over
the next decades to play a substantial role in manufacturing renewable energy
projects.
Group backs move to allow foreign equity in rural banks
THE Rural Bankers Association of the Philippines (RBAP) expressed support for
allowing foreign equity in rural banks, saying this will boost the industry.
Banana, cacao can be grown together
THE Philippines is considered as the third largest producers of banana in the
world. In fact, banana is considered as the most important fruit crop in terms of
volume of production and export earnings.
How to measure poverty
The National Economic and Development Authority is thinking of new ways to
measure poverty in the Philippines.
Job creation must have top priority
Written by: Benjamin Diokno
‘The Philippines needs to create some 14.6 million new jobs in the Philippines
between now and 2016. That’s a tall order.’
MNTC vows to finish P10-billion Nlex-Harbor Link project on time
The three-year construction of the ambitious North Luzon Expressway (Nlex)Harbor Link project will be finished on time to ease traffic in the area, according
to the Manila North Tollways Corp. (MNTC).
More OFWs marked for RP entrepreneurial programs
More overseas Filipino workers (OFWs) are targeted for integration back to the
Philippines through entrepreneurial programs to drive investments in the micro,
small and medium enterprise (MSME) sector, the National Economic and
Development Authority (Neda) said.