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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.