| Regional Affairs
Report: China deploys missiles in contested South China Sea island The Philippine Star 17th Feb 2016
China has deployed a surface-to-air missile system to one of the contested islands in the disputed South China Sea, according to a report. Fox News obtained civilian satellite imagery from ImageSat International which shows advanced missile launchers and a radar system on Woody Island. The imagery dated February 14 showed two batteries of eight surface-to-air missile launchers which appear to be the HQ-9 air defense system. The HQ-9 has a range of 125 miles and is closely similar to Russia's S-300 missile system.
ASEAN, US to meet on maritime security Manila Bulletin 15th Feb 2016
Maritime security will be an important part of the discussion during the Association of Southeast Asian Nations (ASEAN)-United States Leaders’ Summit to be held at Sunnylands, California this week and which President Aquino is scheduled to attend. Presidential Communications Operations Secretary Herminio Coloma, in a radio interview yesterday, said that based on the discussions during the United States-ASEAN (US-ASEAN) Summit in Kuala Lumpur last November, US President Barack Obama will probably initiate a dialogue with ASEAN leaders on matters concerning maritime security. “Maritime security has emerged as a vital concern to ASEAN,” he stressed.
Aquino vows good news from US trip The Manila Times 15th Feb 2016
PRESIDENT Benigno Aquino 3rd on Monday vowed to bring home fresh trade opportunities and more good news from his weeklong trip to the United States where he will attend his last Association of Southeast Asian Nations (Asean) summit as the country’s leader. In his pre-departure message, Aquino said officials will further boost the joint strategic partnership between Asean and the US which has helped keep the peace and stability in the region. “In the face of the issues at the South China Sea and West Philippines Sea, together with our Asean neighbors, the US will be one with us in pushing for ‘rule of law’ in our seas,” the President said.
SOM1 to build on APEC Manila’s work Manila Bulletin 12th Feb 2016
In the upcoming 2016 Asia Pacific Economic Cooperation (APEC) First Senior Officials’ Meeting (SOM1) and Related Meetings to be held in Lima, Peru. the Philippines will not only continue to build on APEC’s ongoing work, but will also pursue, monitor, and sustain the initiatives it introduced last year under the inclusive growth agenda. The Philippines was last year’s host of the APEC Summit. As the first comprehensive Senior Officials’ Meeting for the year, the Philippine delegation to the various APEC technical working groups and committees will discuss how to implement and advance APEC 2015 initiatives, and how to align these with the APEC 2016 theme “Quality Growth and Human Development.”
Trails only China in Asia: Philippines leads Japanese list of investment destinations The Philippine Star 9th Feb 2016
The Philippines has overtaken Thailand and Vietnam as the investment destination of choice in Asia among Japanese companies diversifying beyond China, a ranking official of the Japan External Trade Organization (Jetro) told The STAR. In an interview during his recent visit to the country, Jetro executive vice president Tatsuhiro Shindo said the Philippines has moved up on the Japanese investors’ list of their most favored destinations in Asia. The country is now officially the “plus one” of Japan as it embarks on a China Plus One Strategy, he said. “Yes, (the Philippines) is on top of our list. It used to be Thailand and Vietnam. But most recently it has become the Philippines,” Shindo said.
PH is bent on becoming TPP member Manila Bulletin 6th Feb 2016
The Philippines is still seriously interested to become part of the world’s most ambitious trade agreement, the Department of Finance (DOF) said. After the signing of the Trans-Pacific Partnership (TPP), Finance Secretary Cesar V. Purisima, reiterated that the Philippines stands to gain from becoming a member of the trade pact. Purisima, meanwhile, congratulated the 12-member nations of the TPP. “TPP membership bodes well for economic performance at home as well,” Purisima said. “An April 2014 Philippine Institute of Development Studies paper projected that the value of Philippine exports will rise if it participates in the TPP.”
National Affairs
Noy nominates DOJ, NEDA chiefs The Philippine Star 17th Feb 2016
President Aquino has submitted to the Commission on Appointments (CA) for confirmation the nomination papers of his new secretary of justice and secretary of economic planning. CA records show that the appointments of Emmanuel Caparas as secretary of the Department of Justice and Emmanuel Esguerra as economic planning secretary and director general of the National Economic and Development Authority are both dated Feb. 10. Caparas succeeded Alfredo Benjamin Caguioa, whom Aquino named as the newest Supreme Court (SC) justice, while Esguerra replaced Arsenio Balisacan, whom the President appointed as head of the newly created Philippine Competition Commission, the agency that will enforce the Fair Competition Act, the country’s version of an anti-trust legislation.
Philippines ranks 4th in countries hardest hit by disasters PhilStar 16th Feb 2016
The Philippines ranked fourth among countries hit by the most number of disasters in 2015, a report by the United Nations Office for Disaster Risk Reduction (UNISDR) said. China is the most disaster-prone country with 26 disasters. Second is the United States with 22 followed by India with 19, the Philippines with 15 and Indonesia with 11. The UNISDR report said that 2015, being the hottest year on record, confirmed that weather and climate-related disasters now dominate disaster trends linked to natural hazards. UNISDR noted that after droughts, floods had the second greatest impact in 2015, with 152 floods affecting 27.5 million people and claiming 3,310 lives, compared with the 10-year average of 5,938 deaths and 85.1 million people affected.
Ballot printing starts The Philippine Star 16th Feb 2016
All six presidential candidates including the recently deceased are on the official ballot as printing finally got underway yesterday after several postponements. With disqualification cases still unresolved by the Supreme Court, the Commission on Elections (Comelec) released the list of candidates in the May 9 local and national elections as the National Printing Office (NPO) began work on 55.6 million official ballots. The ballots will have the names of six candidates for president: Jejomar Binay (United Nationalist Alliance), Miriam Defensor-Santiago (People’s Reform Party), Rodrigo Duterte (Partido ng Demokratikong Pilipino-Laban), Grace Poe (independent), Mar Roxas (Liberal Party) and OFW Family Club party-list Rep. Roy Señeres, who died recently.
Noy to brief summit on Mindanao peace The Philippine Star 16th Feb 2016
The government’s commitment to peace with Muslim rebels – despite the non-passage of the Bangsamoro Basic Law (BBL) – will be highlighted during President Aquino’s meeting with other leaders of the Association of Southeast Asian Nations (ASEAN). “This is the last ASEAN summit that I will attend as President of the Philippines. This is also my last chance to share with my fellow ASEAN leaders our resolve with regard to the peace process – our contribution in addressing the issues of extremism and lack of stability,” Aquino said in a speech before leaving for Palm Springs, California for the first ASEAN-United States summit. Congress adjourned for the 90-day campaign period before the May 9 elections without passing the BBL, but the peace panels of the government and the Moro Islamic Liberation Front agreed to renew the mandates of the Ad Hoc Joint Action Group and the International Monitoring Team until March 31, 2017.
Binay keeps lead; Bongbong tied with Chiz The Philippine Star 16th Feb 2016
Despite a two-point slip, Vice President Jejomar Binay remained the top choice of voters to be the country’s next president based on the latest poll conducted by the newspaper BusinessWorld and the Social Weather Stations (SWS). Meanwhile, Sen. Ferdinand “Bongbong” Marcos Jr. is now tied in first place with Sen. Francis Escudero in the vice presidential race. Binay, standard bearer of the United Nationalist Alliance (UNA), got 29 percent in voter preference in the SWS survey taken from Feb. 5 to 7. Davao City Mayor Rodrigo Duterte of PDP-Laban narrowed Binay’s lead, rising by four points to tie for second place with Sen. Grace Poe, an independent candidate, with 24 percent. Duterte’s score rose from 20 percent in January, while Poe’s rating was unchanged.
Agenda of the next president: Foreign policy Inquirer 15th Feb 2016
The Philippines has taken its maritime dispute with China to the United Nations for resolution and entered into a new defense deal with the United States for support. Though worried about China’s actions, Filipinos are also opposed to increased US presence in their country. Here the presidential candidates state their plans for handling the dispute and improving the country’s standing in the international community. INQUIRER.net is publishing verbatim the candidates’ action plans on foreign policy. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
Roxas: BUB to make PH ‘Superman of Asia’ Manila Bulletin 14th Feb 2016
Administration standard-bearer Mar Roxas, who once said he will not promise what he can’t deliver, said he could turn the Philippines into a Singapore-like tiger economy if elected in the coming elections. “We have been branded as the ‘Sick Man of Asia’ before; we became ‘Asia’s Bright Star’ through the administration of President Aquino; and in the coming years, we will be known as ‘Superman of Asia,’” Roxas said here yesterday. Roxas said there is no reason to doubt the country’s capability to become the next economic rockstar of Asia, noting that all the fundamental foundations have already been laid down through honest and good governance. Asked of how he intends to do it, Roxas said the formula lies on the expansion of the Bottom-Up Budgeting (BUB) which he sees as a good catalyst to achieve more economic development. “The BUB is like a rocket booster. It will be energized to propel the country to greater heights,” he said.
Agenda of the next President: Corruption Inquirer 13th Feb 2016
The fight against corruption in the Philippines has led to the conviction for plunder of a former President, the resignation of an Ombudsman, the impeachment of a Chief Justice and the incarceration of three senators. But much remains to be done, as shown by the 2014-2015 Social Weather Stations survey that found businessmen perceive the government agencies they deal with as corrupt. INQUIRER.net is publishing verbatim the candidates’ action plans to address corruption in the Philippine government. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
President Aquino campaigns for Roxas, Robredo in CamSur Manila Bulletin 12th Feb 2016
The Chief Executive is turning out to be the number one dedicated campaigner of Liberal Party bets Mar Roxas and Leni Robredo. Juggling his presidential duties and campaign work, President Benigno S. Aquino III traveled on Friday, February 12, to Camarines Sur to rally support behind the RoRo tandem in the May elections. Prior to the campaign rallies in Iriga City and Naga City, Aquino inaugurated a road widening project in Pili, Camarines Sur. Joining the President in his CamSur visit were Social Welfare and Development Secretary Dinky Soliman, Budget Secretary Butch Abad and Transportation and Communications Secretary Joseph Abaya.
Election Roundtable: Platform of government CNN Philippines 12th Feb 2016
n this election roundtable, CNN Philippines takes a look at the platforms of the presidential candidates. We invited representatives of the candidates or their political parties and asked: What are the top three priorities of your candidates once they get elected?
Economic baptism of fire for next leader Business World 9th Feb 2016
THE NEXT PRESIDENT takes office at a time of nagging global economic uncertainty, which local economists expect the country to weather nonetheless.
Agenda of the next president: Poverty reduction Inquirer 9th Feb 2016
Poverty is the biggest problem in the Philippines. A recent Social Weather Stations survey showed that one in every two Filipino families rated themselves poor in 2015. A Pulse Asia survey also found that 38 percent of the respondents viewed poverty as one of the most urgent national concerns. Studies have shown that among the causes of poverty are inequality, poor government, corruption and slow economic growth. INQUIRER.net is publishing verbatim the candidates’ action plans. For the summary of the 10 pressing issues, go to our special Election 2016 website.
Aquino accepts DFA chief Del Rosario’s resignation Inquirer 8th Feb 2016
Malacañang on Monday confirmed that President Benigno Aquino III has accepted the resignation of Department of Foreign Affairs (DFA) Secretary Albert del Rosario. In a statement, Communications Secretary Herminio Coloma Jr. said: “According to Executive Secretary Secretary Ochoa, President Aquino has accepted the resignation of Foreign Affairs Seecretary Albert del Rosario effective 7 March 2016.” According to reports, the 76-years-old del Rosario is resigning due to health reasons. He is said to hand over his post to DFA Undersecretary for International and Economic Relations Laura del Rosario.
The maritime security agenda of the next Philippine president Business World Online 8th Feb 2016
With a scenario based on the end of internal security threat from insurgency and the passage of the Bangsamoro Law, a national security policy that centralizes the position of maritime security should occupy the agenda of the next Philippine president. Opportunities are great, in part because of heightened public consciousness generated by President Benigno S. C. Aquino III’s responses to China’s incursions in the Philippine-claimed Kalayaan Island Group and Bajo de Masinloc (Scarborough Shoal), since 2010.
Customs
PH, Efta set to conclude trade agreement in April Inquirer 13th Feb 2016
The Philippine government is hoping to conclude by April negotiations for a free trade agreement (FTA) with the European Free Trade Association (Efta), a move that will further strengthen and solidify the country’s access to one of its biggest markets to date. In a briefing Friday, Trade Secretary Adrian S. Cristobal Jr. said the government was aiming to finally sign, during the sixth round of negotiations that would be held in Europe this April, the agreement with Efta member states Switzerland, Norway, Iceland and Liechtenstein.
Aquino approves 3-year exports roadmap Business World 12th Feb 2016
PRESIDENT Benigno S. C. Aquino III has approved the Philippine Export Development Plan (PEDP) for 2015 to 2017, a roadmap that sets the targets and strategies for the growth of the exports industry. Memorandum Circular No. 91, signed by Mr. Aquino on February 4, directed concerned agencies to review all relevant policies to ensure the implementation of the plan. “Pursuant to the provisions of Article II of Republic Act (RA) No. 7844, otherwise known as the “Export Development Act of 1994,” the attached 2015-2017 Philippine Export Development Plan (PEDP) is hereby approved,” the circular read. Under the law, the President shall approve a rolling three-year PEDP prepared by the Department of Trade and Industry (DTI) which shall form part of the medium-term Philippine Development Plan.
WTO Trade Facilitation Agreement to enhance the ease of doing business in the Philippines Gov PH 10th Feb 2016
Philippine products and services are bound to reach an even wider international market once the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) is ratified. “The TFAenables streamlined, transparent, and efficient customs procedures which would result to a more conducive trading environment for business, and reduce prices for consumers and producers,” said Department of Trade and Industry (DTI) Secretary Adrian S. Cristobal Jr. “The procedures and provisions in the TFA establishes a more efficient and streamlined mechanism for traders which in turn contribute to improving the overall experience of doing business in the Philippines.,” Cristobal explained.
Customs launches IT projects in line with modernization Business World 4th Feb 2016
THE CUSTOMS BUREAU has launched information technology (IT) projects for the automation of its processes and services, in line with the government’s push toward trade facilitation. According to a statement yesterday, the Bureau of Customs (BoC) has partnered with IT firms such as Development Bank of the Philippines (DBP) subsidiary DBP Data Center, Inc. and cybersecurity firm FireEye, Inc. for its technology modernization plan.
BOC rolls out P222M tech modernization projects PortCalls Asia 8th Feb 2016
The Philippine Bureau of Customs (BOC) is embarking on six projects designed to upgrade its information technology systems. The projects, to be implemented with the help of private companies, come at a cost of P222 million paid for by the BOC, according to Management Information System and Technology Group (MISTG) deputy commissioner Dennis Reyes. Customs commissioner Alberto Lina said the demands of the Customs Modernization and Tariff Act (CMTA), recently ratified by Congress, compelled the bureau to “develop the capability not only to process data, but, in terms of cyber-security, develop the capability to both defend and hunt down perpetrators of cyber-criminality and its physical counterpart activities.” The CMTA supports the use of IT in BOC operations.
Customs modernization act may be signed into law this week - Lina PortCalls Asia 8th Feb 2016
The Customs Modernization and Tariff Act (CMTA) may be signed into law by Philippine President Benigno Aquino III this week, Customs commissioner Alberto Lina told PortCalls at the sidelines of Bureau of Customs’ (BOC) 114th anniversary celebrations on February 4. The CMTA, ratified by Congress on February 2, is a priority measure under the Aquino administration. It seeks to overhaul the BOC and update the Tariff and Customs Code of the Philippines.
Bureau of Customs begins modernization with IT projects PhilStar 4th Feb 2016
A string of information technology projects were launched by the Bureau of Customs on Thursday in what it said are initial steps to prepare the agency for the passage of the Customs Modernization Act. In a statement, Customs said it has started the Infrastructure Optimization Project and the Cyber Security Solution Project and will pilot "in the next few weeks" four other IT initiatives. "The demand of the Customs Modernization and Tariff Act (CMTA) compelled the bureau to develop the capability not only to process data, but in terms of cyber security," Customs Commissioner Alberto Lina was quoted as saying. The CMTA, the first reform of the country's customs laws in over three decades, is now up for President Aquino's approval after passing the bicameral conference committee last Wednesday.
Defense & Security
AFP acquiring P564M tactical communications equipment Manila Bulletin 17th Feb 2016
The Armed Forces of the Philippines (AFP) is acquiring $12 million (P564 million) worth of tactical radios and intercom systems as part of its communications modernization program. The radios will be supplied by the American communications firm Harris Corporation. In a statement posted on its website, Harris Corporation said it has received a $12-million order to provide the AFP with Harris Falcon III® tactical vehicular radios, intercom systems and handheld radios, as part of a communications modernization program.
In Philippines, reports of extremists pledging allegiance to IS spark fear Channel NewsAsia 14th Feb 2016
Against the backdrop of a spate of terrorist attacks in Europe and Asia, there are now fears that extremists in the southern Philippines have banded together to pledge their allegiance to the terror group Islamic State (IS). The Bangsamoro Islamic Freedom Fighters (BIFF) and Abu Sayyaf were two of the biggest groups in the Philippines who recently announced they would join forces with IS.
Palace: PH not a safe haven for terrorists Manila Bulletin 13th Feb 2016
Malacañang allayed fears yesterday that the Philippines will become a safe haven for terrorists, as it stressed the commitment of both the Philippine government and the Moro Islamic Liberation Front (MILF) to peace, despite the non-passage of the Bangsamoro Basic Law (BBL). The Palace was reacting to an article by a member of the United States (US) Army Special Forces, stating that “the relationship between the government of the Philippines and the Moro Islamic Liberation Front has the potential to create many of the same difficulties on the Philippine island of Central Mindanao.” “The most disturbing result of this Filipino policy has been the transformation of Central Mindanao into a safe-haven for members of various terrorist organizations,” Anthony DeChristopher wrote in theblaze.com. Presidential Communications Development and Strategic Planning Office (PCDSPO) Undersecretary Manuel Quezon III, however, said the article was “premature” and “alarmist.” “I believe it would be premature and it’s alarmist. Let’s concentrate on the commitment of our partners in the peace process,” Quezon said.
Govt, MILF to ‘stay the course of peace’ The Manila Times 13th Feb 2016
THE government and Moro Islamic Liberation Front (MILF) peace panels have firmed up plans to ensure the passage of the Bangsamoro Basic Law (BBL) under the next Administration, committing to “stay the course of peace” and jointly run after criminals and suspected terrorists. They also renewed the mandate of the International Monitoring Team, citing the body’s effective monitoring of the implementation of the cessation of hostilities. “This mechanism has proven time and again its importance in isolating and interdicting criminal syndicates/kidnap-for-ransom groups and terrorist groups operating in Mindanao,” they pointed out.
Agenda of the next president: Peace and order Inquirer 12th Feb 2016
The failure of the Aquino administration to pass the proposed Bangsamoro Basic Law leaves the search for lasting peace in Mindanao to the next administration. The new government will also have to contend with other armed groups in Mindanao and communist rebels to achieve peace. For safe communities, the new administration will likewise have to deal with criminality, including extrajudicial killings, and ensure swift delivery of justice. INQUIRER.net is publishing verbatim the candidates’ action plans to address food security in the Philippines. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
New EO appoints DoTC head in charge of sea security Business World 10th Feb 2016
President Benigno S. C. Aquino III has signed an executive order appointing the head of the Department of Transportation and Communications (DoTC) as the authority responsible for the security of sea transport and maritime infrastructure in the country. “The SOTC [Secretary of Transportation and Communications], as the authority responsible for the security of sea transport and maritime infrastructure in the country, shall ensure the accomplishment of the duties and responsibilities of the Contracting Government under the ISPS [International Ship and Port Facility Security] Code,” Executive Order No. 197 read in part, in reference to the said international framework on security cooperation among governments, shipping companies, and port authorities. The Philippines is a contracting party of the 1974 International Convention on the Safety of Life at Sea, which adopts the said code.
Economics
IMF cuts PHL growth forecasts for 2016, 2017 amid global headwinds Business World 17th Feb 2016
The International Monetary Fund (IMF) has trimmed its growth forecasts for the Philippines for this year and the next, although noting that the economy still has “substantial” buffers against market risks. In a statement on Wednesday, the IMF’s External Relations Department said a mission led by Assistant Director for Asia Pacific Chikahisa Sumi visited the Philippines from Feb. 11 to 17 to meet with the government’s economic cluster, central bank officials, and private sector leaders, which comes ahead of its annual health check among member economies slated by June-July. Though citing the country’s “comfortable” fiscal position, the IMF delegation said the Philippines is poised to grow by 6% this year, lower than the 6.2% estimate given by the multilateral lender on Jan. 19. IMF likewise slashed its Philippine growth forecast for 2017 to 6.2% from the previous 6.5% that was given ahead of the announcement of official fourth-quarter and 2015 growth data on Jan. 28. For this year, the IMF expects a relatively robust performance from the Philippines, as private consumption is seen to pick up pace to bring the country’s growth rate still ahead of its Southeast Asian neighbors.
BPOs can take up slack from faltering remittances -- ING Business World 16th Feb 2016
Robust growth in the business process outsourcing (BPO) sector can make up for the projected slowdown in worker remittances, an economist from ING Bank N.V. said, enough to keep the country’s current account in surplus amid weak global trade. ING Bank economist Jose Mario I. Cuyegkeng said that remittances from overseas Filipino workers (OFWs) may come in flat in 2015, compared with the 5.9% rise in 2014. “Our base case is flat growth,” Mr. Cuyegkeng said in his latest market view sent to reporters. But despite the fading growth in remittances, the ING analyst said rapid expansion of the country’s BPO sector would still allow the country’s external payments position to remain positive, even in the face of dampened external demand and slower global growth prospects.
Combined goods and services: Exports fall eases to 2.4% in 2015 – DTI The Philippine Star 16th Feb 2016
Aggregate exports of goods and services likely declined 2.4 percent last year, the Department of Trade and Industry (DTI) said. The DTI based its computation by combining the annualized services export data with an estimated growth rate of 5.2 percent and merchandise exports which declined 5.6 percent last year. “The full-year export performance represented a recovery, albeit very slightly, from the 5.8-percent decrease posted for the first 11 months of 2015,” the DTI said. The agency said the decline in merchandise exports last year was reflective of the export downtrend in neighboring Association of Southeast Asian Nation (ASEAN) countries as well as the bigger regional market in Asia.
Gov’t cuts targets amid challenges Business World 15th Feb 2016
THE GOVERNMENT trimmed most of its macroeconomic targets for the four years to 2019 amid “challenging” external developments, particularly China’s slowdown and the slump in global oil prices, but remained bullish on the country’s growth prospects, with robust domestic demand seen to prop up the economy. The Development Budget Coordination Committee (DBCC), which sets the government’s official macroeconomic assumptions and fiscal program, expects the country’s gross domestic product (GDP) to grow 6.8-7.8% this year, down from the 7-8% originally targeted. The economy’s expansion is seen slowing to 6.6-7.6% next year due to base effects, before settling within 7-8% and 6.9-7.9% in 2018 and 2019, respectively. Under the committee’s assumptions as of June last year, GDP growth was also targeted at 7-8% for 2017 and 2018.
Elections won’t derail Philippine economic growth–JP Morgan Business Mirror 15th Feb 2016
The uncertainty brought about by the 2016 elections will not derail the country’s economic momentum as the current administration has already put policy changes in place, an international bank said. “In our view, we do not see the presidential election as a game-changing event to the economy or equity market,” JP Morgan said in a research note recently published. “We think postelection-policy changes are remote given that economic planning is institutionalized, particularly fiscal reforms that were put in place over the last two administrations,” it added. The international bank said that, while a strong mandate for the new president will be a positive, a minority president is not seen posing a risk to political stability and to the new administration’s ability to pursue important economic reforms.
Liberalizing Indonesia turns up heat on PHL foreign restrictions Business World 14th Feb 2016
THE PHILIPPINES should act faster to further ease business restrictions to attract more foreign investments as other countries in the region are becoming more decisive in their bid to become competitive, members of foreign chambers said during the weekend. They were reacting to a move by Indonesia last week to open a long list of sectors to foreigners in a turnaround from previous actions that drew criticism for the country’s slide back to economic protectionism.
Philippines Holds Key Rates as Asia Gauges Need for Stimulus Bloomberg 11th Feb 2016
The Philippines left its benchmark interest rate unchanged as quickening economic growth gave policy makers room to save firepower should global risks worsen or threats from El Nino, market volatility and oil escalate. Bangko Sentral ng Pilipinas kept the rate it pays lenders for overnight deposits at 4 percent for an 11th straight meeting, as predicted by all 14 economists surveyed by Bloomberg. Policy makers also held the rate on so-called special deposit accounts at 2.5 percent, as forecast by all seven analysts surveyed.
Foreign chambers urge next government: Reforms crucial in attaining 10% growth PhilStar 10th Feb 2016
The Philippine economy is capable of growing at least 10 percent annually starting 2018, while foreign direct investments (FDI) could easily double should reforms being pushed by the foreign and local business community be implemented by the incoming administration, the Joint Foreign Chambers (JFC) of the Philippines said. “A GDP (gross domestic product) of 10 percent plus per annum and FDI close to $10 or $12 billion, that’s the vision we like to achieve moving forward. As far as GDP is concerned, when everything goes well then foreign direct investment will come in on a higher level which would then lead to more jobs,” European Chamber of Commerce of the Philippines external affairs vice president Henry Schumacher said yesterday. “(Achieving that target) by 2017 may be too fast. New administration comes in by July and then takes up to 2017 to get going. So by 2018, I don’t see any reason why not,” he added.
Agenda of the next president: Economy and jobs Inquirer 10th Feb 2016
Under the Aquino administration, the economy has grown by an average of 6.2 percent–the fastest since the late ’70s. And thanks to reforms in the bureaucracy, business has been bullish and foreign direct investment has been rising 53.1 percent from 2012 to 2014. But not everything is rosy. Creating jobs remains a challenge, more so as global oil prices plunge. If the downturn continues, some 1.5 million temporary workers in the Middle East could lose their jobs. INQUIRER.net is publishing verbatim the candidates’ action plans to strengthen the economy and create jobs for Filipinos. For the summary of the 10 pressing issues, go to our special Election 2016 website.
Chambers say ‘fundamental’ woes holding back agriculture Business World 9th Feb 2016
MEMBERS of foreign business chambers in the Philippines gathered yesterday to enumerate the country’s gains on the fifth year of their annual forum while highlighting the issues that still need to be addressed, which ranged from foreign investment restrictions to openness to international trade.
2015 joblessness lowest in 11 years Business World 9th Feb 2016
THE RANKS of those who found themselves jobless thinned last quarter, bringing the full-year average rate to its lowest point in 11 years in 2015, the Social Weather Stations (SWS) said in a report that also showed optimism on job availability 12 months ahead improved.
More investors bullish on Philippine prospects – StanChart The Philippine Star 8th Feb 2016
Investors are bullish on the country’s economic prospects over the next five years, according to a survey conducted by Standard Chartered Bank. Based on the survey conducted by the bank among 160 of its top financial institution and corporate clients, more than 80 percent of the respondents expect the country’s gross domestic product (GDP) to grow above five percent over the next five years. More than 45 percent of the total respondents see the economy expanding between five and 5.9 percent, while 30 percent of the respondents expect the economy growing between six and 6.9 percent. About nine percent of the total respondents are more bullish and expect the country’s GDP growth exceeding seven percent between 2016 and 2020. However, 15 percent of the respondents see the economy growing between four and 4.9 percent, while one percent expects the expansion falling below four percent.
Franchising sector optimistic for record 2016 growth Manila Bulletin 7th Feb 2016
With the optimistic outlook on the Philippine economy and the increasing number of growth areas for the franchising sector, the Philippine Franchise Association (PFA) is optimistic of attaining record 30 percent growth in 2016. According to the new PFA President Dr. Alan Escalona, the franchise sector may grow to as high as 30 percent this year. This optimism comes from many factors which include the steady economic forecasts and studies such as that of the World Bank and the International Monetary Fund with projections of 6.4 percent and 6.2 percent Gross Domestic Product (GDP) growth respectively for 2016. Apart from country’s bright economic outlook, Escalona noted that personal optimism of Filipinos has also increased.
FDI up for grabs, PHL opening critical Business World 4th Feb 2016
HE PHILIPPINES can take advantage of capital flows from aging Asian economies by opening up local industries such as manufacturing and agribusiness, an analyst said, which could further prop up foreign direct investment (FDI) and create more jobs.
Tax reforms pushed beyond Aquino’s term Business World 4th Feb 2016
TAX REFORMS, particularly the adjustment of income tax rates, should form part of the next administration’s policy agenda to support the “rapid development” of the Philippines, according to the Tax Management Association of the Philippines, Inc. (TMAP).
Reforms seen pushing FDI higher this year Business Mirror 4th Feb 2016
Reform measures pursued in the manufacturing sector at present and continuing efforts to further liberalize the banking system were to boost further the entry of foreign direct investments (FDI) this year. According to Finance Undersecretary Gil S. Beltran, those who invest for the long haul in the Philippines, the kind of investment that generates employment for the locals and tax revenues for the nation’s coffers, have been encouraged by the adoption of the Manufacturing Resurgence Program (MRP) and the bank liberalization law that have made it possible for foreign interests to own banks with relative ease. This developed even as the Philippines remains an attractive destination for many more business-process outsourcing (BPO) companies and help make possible for FDI to recover from a downturn last year.
Energy
Diesel, gas to cost less The Manila Times 15th Feb 2016
Oil firms are set to slash prices of diesel and gasoline by P0.70 per liter and P1.40 per liter, respectively. Pilipinas Shell Petroleum, PTT Philippines and Eastern Petroleum on Monday announced that they will roll back again the prices of their petroleum products, citing downward price movements of petroleum products in the world market. Shell said it will reduce the prices of gasoline products VPN+ and VPN+ racing by P1.40 per liter, diesel and VPN+ diesel by P0.70 per liter and kerosene by P0.90 per liter effective at 6 a.m. on Tuesday.
Privatization of Agus and Pulangui hydro-electric power complexes opposed The Manila Times 15th Feb 2016
A party-list lawmaker has vowed to block any move to privatize the mammoth Agus and Pulangui hydro-electric power complexes in Mindanao. Rep. Edgardo R. Masongsong (Party-List, 1-CARE) said reports have it that despite the sustained opposition of some groups in Mindanao, new options are being considered on the proposed privatization of the Agus and Pulangui hydropower complexes. Masongsong cited Romeo Montenegro, director for Investment Promotions and Public Affairs of the Mindanao Development Authority (MinDA), who said several privatization options are being dangled for the grid’s biggest hydro assets.
Senator to next leader: Make RE priority The Manila Times 14th Feb 2016
Vice presidential candidate Ferdinand “Bongbong” Marcos Jr. on Sunday said the next administration should speed up implementation of the country’s renewable energy (RE)program that will ease not only solve the power needs but also protect the environment. The senator added that the next administration must vigorously increase the country’s RE capacity targets to make it at least 50 percent by 2030. “We need to boost our renewable energy program and this should be prioritized to ensure economic development while protecting our environment,” he said.
Vis-Min grid interconnection feasibility study gets ERC nod Business Mirror 15th Feb 2016
THE Energy Regulatory Commission (ERC) has approved the conduct of a feasibility study on the proposed Visayas-Mindanao interconnection project of the National Grid Corp. of the Philippines (NGCP). “We provisionally approved the application for the feasibility study to be conducted to interconnect the Visayas and Mindanao grids,” ERC Commissioner Jose Vicente Salazar said in a media briefing. With the approval, the NGCP can immediately commence the conduct of the study for the Visayas-Mindanao Western Route (Cebu-Negros-Zamboanga del Norte) Interconnection Project Phase 1.
Palace urged to sign bill on ‘green jobs’ generation Business Mirror 9th Feb 2016
The chairman of the House Committee on Labor on Tuesday urged President Aquino to sign into law the proposed “Philippine Green Jobs Act of 2016.” National Unity Party Rep. Karlo Alexei B. Nograles of Davao, panel chairman and main author of the bill, said that the measure seeks to create job opportunities in the field of green technology to promote the protection of the environment. “With this measure, we will see the establishment of many green investments in the country, such as those that are involved in the production of electronic vehicles, solar panels, water-recycling plants and even power companies that use renewable resources,” Nograles said.
British envoy finds PH energy investment policy ‘illogical’ Inquirer 7th Feb 2016
British Ambassador Asif Ahmad on Friday scored the Philippine government’s policy of putting a cap on foreign investment in renewable energy development while encouraging the full foreign ownership of traditional power generation. Ahmad was in Palawan on Friday to witness the groundbreaking of a small hydroelectric power project initiated by a British-led company, the Langogan Power Corp. (LPC), which will tap several major rivers to generate electricity for the island province’s main power grid.
Financial Services
BIR sets stricter audit on firms The Philippine Star 16th Feb 2016
Corporations may soon be subject to a transfer pricing audit, a new type of tax audit, from the Bureau of Internal Revenue (BIR). Transfer pricing is used to describe inter-company pricing arrangements relating to transactions between related entities. These can include transfers of intellectual property, tangible goods, services and loans or other financing transactions. According to auditing firms, global tax authorities are imposing stricter penalties and carrying out intensive audits among companies. As such, Quantera Global, a global transfer pricing advisory firm sees BIR examiners implementing transfer pricing audit following the BIR’s move to include transfer pricing issues as a major criteria for its priority taxpayers.
SEC stands pat on new disclosure rule The Manila Times 15th Feb 2016
The Securities and Exchange Commission (SEC) is prepared to defend its position in requiring securities brokers and dealers to disclose the beneficial owners of shares in line with the foreign ownership limits in partly nationalized industries, as well as to deter money-laundering activities. SEC Chairperson Teresita Herbosa told reporters Monday the regulator was justified in imposing additional requirements on securities dealers and stockbrokers.
BSP eases FX rules anew to benefit targeted sectors Business Mirror 15th Feb 2016
The Bangko Sentral ng Pilipinas (BSP) moved to ease rules on foreign-exchange transactions in the country to benefit targeted sectors of the economy. In a statement released recently, the country’s central monetary authority announced the Monetary Board has approved further liberalization of rules governing foreign-exchange transactions in the Philippines. This liberalization of foreign-exchange rules is part of a series of reforms initiated by the central bank since 2007 to keep foreign-exchange policies “responsive to current economic conditions.”
Banks fail to meet loan quotas in Agri-Agra act Business World 15th Feb 2016
Big banks have shirked their mandate of handing out loans meant for the farming sector, central bank data bared, despite a requirement set under the Agri-Agra Reform Credit Act of 2009. As of end-September, universal and commercial banks failed to meet the required 10% of total loanable funds from agrarian reform beneficiaries -- continued trend from the previous years -- and the 15% allotment to farmers and fisherfolk, data from the Bangko Sentral ng Pilipinas (BSP) showed.
Life insurance premiums seen expanding by 25% Business World 15th Feb 2016
The life insurance sector is expected to sustain its growth this year, the chief of the industry regulator said, with premium income seen to rise by at least a quarter from the end-2015 level. Insurance Commissioner Emmanuel F. Dooc said premium income from the life insurance sector could grow to “P233 billion for 2016, up by 25-26%.” “This is optimistic since our growth was only 18% more or less last year... the life sector growth rate will still be higher than non-life,” Mr. Dooc said in a text message when asked for the Insurance Commission’s targets this year.
SEC not budging on disclosure of beneficial owners of shares Business Mirror 15th Feb 2016
The Securities and Exchange Commission (SEC) is prepared to defend its position on the new rules requiring securities brokers and dealers of stocks to disclose the beneficial owners of shares in a move to ensure compliance with the 40-percent foreign-ownership restriction. SEC Chairman Teresita Herbosa said the agency already gave the Philippine Association of Brokers and Dealers Inc. (Pasbdi), the umbrella organization of brokers and dealers, four years to challenge the new requirements. “None of them [brokers] assailed the intended amendments that we wanted to make.” She said the agency is justified in imposing additional requirements on securities dealers and stockbrokers to disclose the beneficial owners of stocks and securities.
Bill on foreign ownership of financial firms hurdles bicameral committee; ratification expected today Business World 15th Feb 2016
The proposed law lifting foreign ownership restrictions on investment and lending firms in the country was passed by the legislature’s bicameral conference committee, with the measure expected to be ratified on the last day of Congress. The bicameral conference committee finished reconciling the differences between Senate Bill No. 3023 and House Bill No. 6395, and has come up with a unified but yet to be numbered conference committee report which will be ratified separately by each chamber. Senator Joseph Victor G. Ejercito, chairman of the Senate Committee on Economic Affairs, likewise said that the committee report will likely be ratified on the Senate floor on Wednesday. A pet bill of Malacañang and one that is supported by the Joint Chamber of Commerce of the Philippines, the measure lifts the ownership restrictions of lending companies, financing companies, investment houses in the country, allowing these financial entities to be owned 100% by foreign nationals.
‘LBP-DBP merger may need House approval’ The Philippine Star 15th Feb 2016
The House of Representatives will look into the legal basis of Executive Order 198 of President Aquino that merged two state-owned financial institutions, the LandBank of the Philippines (LBP) and the Development Bank of the Philippines (DBP), Speaker Feliciano Belmonte Jr. said Saturday. The House leader said he has ordered a study of the EO as he believes the merger should have been approved by Congress.
SEC seeks more powers vs scammers The Manila Times 14th Feb 2016
The Securities and Exchange Commission (SEC) wants to be given more powers to combat investment scams in order to prevent victims from losing their money. “We see the need to go proactive with regard to curbing investment scams,” SEC Chairperson Teresita Herbosa told reporters last Friday. “[I]n the US . . . they actually have a system which would trigger all agencies involved . . . to take note of the complaint within 24 hours and be able to notify a recipient bank to stop the wire transfer,” Herbosa added.
BSP eases foreign exchange rules anew Business World 13th Feb 2016
THE BANGKO SENTRAL ng Pilipinas (BSP) has once again eased rules covering foreign exchange (FX) transactions in the country, in a bid to attract more investors and boost lending. In a statement sent over the weekend, BSP Governor Amando M. Tetangco, Jr. said the central bank will further relax its regulations on foreign exchange deals as part of a continuing review of policies to foster a stable financial system. One amendment to the rules is that foreign investors with disapproved subscriptions to stock rights offerings of public firms can now directly convert their peso investments to a foreign currency.
Gov’t wants LBP-DBP merger finalized by June Inquirer 13th Feb 2016
The government will fast track the merger of Land Bank of the Philippines and Development Bank of the Philippines in a bid to seal the deal before President Aquino steps down in June. In a meeting among government agencies involved in the Landbank-DBP merger on Thursday, it was resolved that “the sooner [they] begin [the merger process], the better,” Finance Assistant Secretary Maria Teresa S. Habitan told reporters yesterday. The meeting was convened by Finance Secretary Cesar V. Purisima.
Solons urge Congress to probe HSBC for its outsourcing activities Business Mirror 12th Feb 2016
The Makabayan bloc has urged leadership of the Congress to conduct an investigation into the series of outsourcing activities of HSBC Philippines Ltd. In House Resolution 2574, Party-list Reps. Fernando L. Hicap of Anakpawis; Neri J. Colmenares and Carlos Isagani T. Zarate of Bayan Muna; Luzviminda C. Ilagan of Gabriela, Emmi A. de Jesus and Antonio L. Tinio of ACT Teachers; and Terry L. Ridon of Kabataan said the outsourcing activities of the HSBC Philippines had resulted in the decrease of local employment in the bank.
BSP to lift moratorium on new bank licenses Inquirer 11th Feb 2016
The 17-year-old moratorium on the grant of licenses to establish new local banks will be gradually removed, with all restrictions gone by 2018 to allow the entry of more foreign capital into the domestic banking system. The Bangko Sentral ng Pilipinas (BSP) said on Wednesday that its policy-making Monetary Board approved a two-phased lifting of the moratorium put in place in 1999. The first phase, which takes effect until end-2017, allows existing thrift banks to apply for a license to convert into a universal or commercial bank.
BSP lifts ban on new bank licenses Business World 10th Feb 2016
NEW BANKS will soon be allowed to set up shop in the Philippines after almost 17 years as the Bangko Sentral ng Pilipinas (BSP) reopens the granting of new licenses in light of the entry of more foreign investors and amid regional integration. In a statement on Wednesday, the central bank said its policy-setting Monetary Board has approved a phased-in reopening of the banking sector to new players by “gradually” lifting a 1999 moratorium which halted the approval of licenses to put up new financial institutions. In September 1999, the central bank came out with a circular letter signed by then-Governor Rafael B. Buenaventura limiting the opening of new banks and branches in the country only to unbanked areas and for thrift and rural banks focused on microfinance. The measure sought to encourage banks to consolidate to improve their viability, especially coming from the Asian financial crisis.
Aquino approves Land Bank, DBP merger Manila Bulletin 9th Feb 2016
President Benigno S. Aquino III has approved the proposed merger of two state-owned lenders Land Bank of the Philippines and Development Bank of the Philippines (DBP). With the merger, Land Bank – DBP will be the second largest bank in terms of assets in the country at P1.604 trillion, dislodging Metropolitan Bank and Trust Company (Metrobank) with P1.367 trillion as of September 2015. BDO Unibank is still the country’s biggest bank with total assets of PP1.884 trillion. “The merger of DBP and Land Bank will build a stronger and more competitive universal development bank able to fulfill its mandate of providing banking services to propel countryside development and to contribute to sustainable and inclusive growth,” the President’s EO read. Aquino also said there is a need to rationalize the state-run banks’ operation to strengthen their financial capabilities, improve the delivery of services, achieve economic efficiency and support the development thrust of the government.
Philippines Lifts 17-Year Ban on Bank Licenses to Lure Investors Bloomberg 9th Feb 2016
The Philippines will phase out a 17-year moratorium on setting up new banks in a bid to lure local investors to an industry that’s also recently opened to foreigners. The Bangko Sentral ng Pilipinas approved lifting the ban on granting licenses to establish new banks. The initial phase, which allows existing thrift banks to apply for a license to convert into a universal or commercial bank, will apply until the end of 2017, it said Wednesday in a statement. The second phase will start in January 2018, when all restrictions on granting new licenses will be fully lifted, the central bank said.
PHL Islamic banking framework up to legislators Business World 4th Feb 2016
Authorities are leaving the decision on the sale of the Al-Amanah Islamic Investment Bank (AIIB) and the drafting of an Islamic banking framework to Congress, citing the need for legal guidelines to govern the operations of this “non-conventional” system. “We are of the consensus that the best way to move Islamic banking forward is to have appropriate legislation in place. Without it, there are too many legal and taxation obstacles to Islamic banking in the Philippines,” Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. said in an e-mail interview. Currently, Al-Amanah Bank is the first and only Islamic bank authorized to practice Islamic banking in the country. State-run Development Bank of the Philippines (DBP) currently owns Al-Amanah Bank. DBP has expressed its plans to privatize the Islamic bank, but this has not been carried out since.
Food & Agriculture
Key agriculture measures await Aquino’s signature Manila Bulletin 15th Feb 2016
The Senate agriculture and food committee is optimistic that President Aquino will sign and approve a number of bills involving the agriculture sector that would benefit 11.8 million farm workers and fishermen. “We are confident of the President’s support on the enactment of these bills. Our agriculture sector needs the reform and support especially in this era of ASEAN (Association of Southeast Asian Nations) Economic Cooperation,” Sen. Cynthia A. Villar, committee chairwoman, said. Villar said the enactment of the measures into law means that the Aquino administration’s gains would be protected and sustained. “For one, the enactment of the bill declaring agricultural smuggling as economic sabotage will be a good accomplishment under his anti-corruption campaign,” she said.
DNA rice breakthrough raises ‘green revolution’ hopes Manila Bulletin 15th Feb 2016
Rice-growing techniques learned through thousands of years of trial and error are about to be turbocharged with DNA technology in a breakthrough hailed by scientists as a potential second “green revolution”. Over the next few years farmers are expected to have new genome sequencing technology at their disposal, helping to offset a myriad of problems that threaten to curtail production of the grain that feeds half of humanity. Drawing on a massive bank of varieties stored in the Philippines and state-of-the-art Chinese technology, scientists recently completed the DNA sequencing of more than 3,000 of the world’s most significant types of rice.
Want meat safer to eat? Wait until DA builds training center Business Mirror 11th Feb 2016
THE National Meat Inspection Service (NMIS) of the Department of Agriculture (DA) expects meat safer to eat after officers graduate from a Food Safety Institute (FSI) in Lipa City, Batangas. In a statement, the NMIS said there are plans to build the FSI to serve as a venue for training and workshops for food-safety regulatory officers in the country.
Senate: Weak absorptive capacity blamed for agriculture failure to post 3% growth under Aquino Business Mirror 11th Feb 2016
SENATORS cited “weak” absorptive capacity, among the main reasons, for the agriculture sector’s reported failure to post a 3-percent growth under President Aquino despite Congress’s infusion of P400-billion funding for its annual budget from 2011 to 2016.
Agenda of the next president: Food security Inquirer 11th Feb 2016
While the incidence of hunger is at its lowest level in the last quarter of 2015, it remains a pervasive problem in the Philippines. During the period, 2.6 million Filipino families reported experiencing hunger at least once, according to a recent Social Weather Stations survey. A Pulse Asia survey last December also found that 40 percent of Filipinos considered “having enough to eat” every day among their biggest problems. INQUIRER.net is publishing verbatim the candidates’ action plans to address food security in the Philippines. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
Agri development plan needs review – Balisacan PhilStar 9th Feb 2016
The government needs to revisit its development strategy for the agriculture sector, which has been tagged as the biggest roadblock to national economic development, a top economic manager said. Former Economic Planning Secretary Arsenio M. Balisacan said a review of the strategic development plans of the agriculture sector, which employs over 30 percent of the country’s population, is in order. “There is an urgent need to rethink the development strategy for this sector, especially with the impact of El Niño and natural disasters that hound our country,” said Balisacan, who now chairs the Philippine Competition Commission (PCC). The share of the agriculture sector to overall economic development declined from 20 percent in the 1970s to just 10 percent last year, from a growth rate of nearly five percent in 2014 to 0.2 percent last year.
Philippines to pioneer hybrid rice farming in Malaysia Philstar Global 8th Feb 2016
The Philippines is set to pioneer hybrid rice farming in Malaysia in April as the country’s ASEAN neighbor seeks to raise self-sufficiency in rice production amid its limited rice area. Local hybrid rice and seeds producer SL Agritech Corp. will ship out a minimum of 100 kilos of seeds for an initial pilot testing where quarantine processes are already being arranged. “Given this potential commercial planting, the Philippines can be the first to introduce a highly suitable hybrid rice in Malaysia. Our hybrid rice was developed for tropical climate. Malaysia has a climate much similar to our climate in Mindanao,” SL Agritech chairman Henry Lim Bon Liong said.
Health & Life Sciences
House leaders reject abortion to aid Zika spread prevention Manila Bulletin 15th Feb 2016
A member of the House Minority bloc joined yesterday the House leadership in rejecting the proposed abortion aid by the Netherlands-based Women on Web for pregnant women infected with the Zika virus. Isabela Rep. Rodolfo “Rodito” Albano III also doused cold water on the call of the United Nations Population Fund (UNFPA) to increase public access to contraception to mitigate the potential impact of the Zika virus. “There is no way for that abortion aid to prosper in our country. Birth control nga ayaw, abortion pa,” he said in a text message. “Human life is sacred and every human being – born and unborn – is precious. The measure of every institution in our society is whether it threatens or enhances the life and dignity of the human being, especially the unborn child,” he stressed.
Agenda of the next President: Healthcare Inquirer 14th Feb 2016
According to former Health Secretary Enrique Ona, more than 30 percent of Filipinos with ailments die without seeing a doctor. Many hospitals in the provinces are poorly equipped and staffed and lacking in services, the result of the devolution of responsibility for health services from the central government to the local governments in the 1990s. The situation calls for reforms in the government’s health spending and programs. INQUIRER.net is publishing verbatim the candidates’ action plans to improve healthcare in the Philippines. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
Tolentino urges community-based approach to keep Zika out of PH Manila Bulletin 11th Feb 2016
Disaster preparedness advocate Francis Tolentino called for an intensified and community-based campaign to help keep the Zika virus out of the country. “Even as the national government and our health authorities are acting to insulate the country from the Zika virus, our local governments can activate barangay leaders, barangay health workers and other community volunteers to conduct their own clean-up drives in their respective areas, to get rid of possible mosquito breeding sites,” Tolentino, an independent senatorial candidate said. The former president of the League of Cities of the Philippines, Tolentino urged local government units (LGUs) to pass ordinances to strictly observe cleanliness in particular and to mobilize community volunteers and barangay workers to conduct a house-to-house cleanliness campaign.
Dengue vaccine arrives in PH Manila Bulletin 11th Feb 2016
Medical societies in the Philippines welcomed yesterday the first shipment of the tetravalent dengue vaccine as it was launched yesterday in Parañaque City. The Philippine Pedriatic Society, with its sub-specialty societies the Philippine Foundation for Vaccination, the Pedriatic Infectious Disease Society of the Philippines, and the Philippine Society of Microbiology and Infectious Diseases, jointly welcomed the arrival of the world’s first dengue vaccine in the country. The Dengvaxia vaccines, developed by Sanofi Pasteur, are now stored in the latest state-of-the-art distribution facility of the Zuellig Pharma Corporation. Department of Microbiology Research Institute for Tropical Medicine head Dr. Rose Capeding said in a statement that the vaccine would be for the 9-to-45-year-old age group.
ICT
Metro Manila next for carpooling app Business World 9th Feb 2016
EUROPEAN carpooling app Wunder is setting foot in the Philippines this week, saying it will help car owners recover fuel costs while charging fares that are “four times cheaper” than those of close competitors. “This week, Wunder is opening its community in Manila...,” Wunder Co-Founder and Chief Operating Officer Samuel Baker said in an e-mail yesterday. “Wunder is a mobile app that allows people in large cities to fill the empty seats in their car by sharing a ride with neighbors headed the same direction.” Over 20,000 people in Quezon City use a car to commute to the southern part of Metro Manila -- especially Makati City -- and 65% of them drive by themselves, according to a recent survey by the Germany-based app.
India offers PHL lessons in moving up the global outsourcing value chain Business World 4th Feb 2016
THE PHILIPPINES must ease restrictions on foreign ownership and allow technology giants to set up a base here to enable the country to move up the value chain in the global outsourcing industry, the head of a global real estate advisory multinational’s India unit said in a forum yesterday.
PHL telcos have to ‘catch up’ to meet customer needs Business World 16th Feb 2016
The Philippine digital market is one of the most “advanced” in Asia-Pacific and local telcos have to “catch up” to meet its needs, but it will likely take them five years to fully transform given their “piecemeal” approach to digital transformation, according to a telco solutions and services provider. “The advantage of the Philippines is that the subscribers, and the way they use the smartphone and e-commerce, are pretty much advanced compared to other countries in Asia-Pacific, so they will demand more,” Abhay Kumar, regional vice-president for services in Asia-Pacific at Amdocs Inc., told a media briefing yesterday at Discovery Primea in Makati City. “But the limitations are the IT (information technology) and network capacity. The subscribers are advanced and the service providers have to catch up,” he added. Many Asia-Pacific operators are still using legacy platforms, Mr. Kumar said. A study by market research firm International Data Corp. (IDC), commissioned by Amdocs and released yesterday, showed that they are “not transforming fast enough” to meet current digital demands. A survey conducted among 81 service providers around the world showed that it will take their companies “more than five years” to fully transform into digital.
Legal forum on cybercrime slated Feb 24 InterAksyon 15th Feb 2016
Amid the increasing incidence of cyberattacks and the growing vulnerability of computer systems, a host of experts are set to discuss how companies and organizations can better withstand such attacks. Set on Feb. 24 at Dusit Thani Manila, the Disini Tech Legal Forum will present various perspectives from the governance, technical, and legal aspects on how to face the challenges brought by cybercrime and how to implement technical and practical measures to pre-empt and manage cybercrime incidents and how to take curative measures. The topics will cover how companies can establish a risk management program to anticipate, deal with, respond to cybercrime, as well as implementing preventive measures. On the legal side, the forum will also tackle the policy implications of existing legal frameworks such as the Implementing Rules of the Cybercrime Prevention Act or Republic Act 10175.
E-learning reaches Cordillera Sun Star 10th Feb 2016
IN A LANDLOCKED region like the Cordillera, technology, especially internet is hard to get by because of its topography. But despite the connectivity problem, teachers in the region are finding new ways to improve learning and performance of students. Just recently, the Department of Education in Mountain Province signed a partnership with Quipper, a pioneering e-learning platform school which provides free content covering six subjects for Grades 4 to 10 and is being used by roughly 1,400 schools nationwide. “Our Division Office is resolute in implementing the ICT Framework of the Department of Education (DepEd), and we are working with various groups to accomplish this. I am hopeful that this innovation in the teaching and learning processes may help break down barriers in education. Quipper School provides many benefits to teachers and students alike,” Mountain Province Schools Division Superintendent Gloria Buya-ao said.
Uber’s new carpooling service drives Manila residents to work for less than $2 Tech in Asia 10th Feb 2016
Uber today introduced its new carpooling service in the Philippines. Dubbed UberHop, the new option links up commuters who travel in the same direction. Manila is the third city in the world to get UberHop, the company says. The service has been available in Seattle and Toronto since December 2015. The Philippine capital is a good place for Uber to launch the service for several reasons. First, it’s one of the most congested cities in the world – transportation is a top-of-mind issue for residents. The Philippine government is also a pioneer in transportation regulation. It introduced a framework for Uber and similar companies to operate legally last year.
To overtake India, Phl needs more IT-BPO hubs PhilStar 5th Feb 2016
The Philippines will have to make more calls for improvements should it want to advance past global information technology-business process outsourcing (IT-BPO) powerhouse India. Jones Lang LaSalle (JLL) Property Consultants (India) chief operating officer and international director Ramesh Nair said yesterday the Philippines should develop more cities outside Metro Manila as IT-BPO hubs to further strengthen its hold as an investment destination for IT and outsourcing companies.
Infrastructure
Agenda of the next president: Traffic Inquirer 16th Feb 2016
As the economy improves, vehicular traffic congestion on major roads becomes a national problem. In Metro Manila, according to the Japan International Cooperation Agency, the growing number of cars and the inefficient mass transit systems cost road users P2.4 billion a day and that could swell to P6 billion a day by 2030. A recent Social Weather Stations review showed that no past President had scored satisfactorily in traffic management. INQUIRER.net is publishing verbatim the candidates’ action plans on traffic in Metro Manila. For the summary of the 10 pressing issues, go to our special Elections 2016 website.
DOTC, MRTC lose bid to regain properties in Mandaluyong Manila Bulletin 15th Feb 2016
The Court of Appeals (CA) has thumbed down the motion of the Department of Transportation and Communication (DOTC) and its private partner, Metro Rail Transit Corporation (MRTC), to stop the Mandaluyong City government from taking over the latter’s properties for its failure to pay real property taxes amount to P2.4 billion covering the period of 2003 to 2005. In a five-page resolution penned by Associate Justice Noel G. Tijam, the CA’s former Sixth Division threw out the petition of DOTC and MRTC, as it does not believe that it should take cognizance of the petition as argued by the MRTC. The CA, in affirming its earlier ruling, stressed that “there was no ruling that the Court of Appeals can take cognizance of certiorari petitions involving real property tax cases decided by the RTC (Regional Trial Court).”
P65-billion LRT-6 project attracts interest from at least 16 firms Business World 15th Feb 2016
AT LEAST 16 groups have shown interest in the P65.09-billion Light Rail Transit (LRT) Line 6 public-private partnership (PPP) project that will connect the cities of Bacoor and Dasmariñas in Cavite province, as the government targets to sign the contract by October this year. Companies that sent representatives to Monday’s pre-qualification conference at Crowne Plaza Manila Galleria in Ortigas district were: Aboitiz Equity Ventures, Inc., Ayala Corp., Bombardier Inc., CFP Transaction Advisors, Daelim Industrial Co., Ltd., DMCI Holdings Inc., Egis S.A., First Metro Investments Corp., Metro Builders Corp., Metro Pacific Investments Corp. (MPIC), Mott MacDonald Group Ltd., Ove Arup & Partners International Ltd., Prime Asset Ventures, Inc., Robinsons Land Corp., San Miguel Corp., and Systra Ltd., according to a partial list of attendees shown to the media. The Department of Transportation and Communications (DoTC) has yet to respond to a request for a copy of the full list of attendees.
Business groups: Delay in passage of PPP Act could prove costly Business Mirror 4th Feb 2016
Now in limbo, the Public-Private Partnership (PPP) Act, which generally amends the decades-old build-operate-transfer law, could have been instrumental in fast-tracking the movement of infrastructure deals out of the government’s pipeline of projects. This is why the business community was generally disappointed after learning that this crucial piece of legislation that would have institutionalized the key infrastructure program of the Aquino administration was not passed during the last calendared session of Congress on Wednesday.
Maritime industry movement pushes for policy, infra reforms Business World 4th Feb 2016
DAVAO CITY -- The Movement for Maritime Philippines (MMP) is bringing the concerns of the maritime industry to the presidential candidates for the May elections to ensure the next administration will address issues that hamper its growth.
Poe justifies committee findings against MRTC management Business Mirror 4th Feb 2016
SEN. Grace Poe on Thursday justified the findings of the Senate subcommittee inquiry into commuter complaints against the Metro Rail Transit Corp. (MRTC) management, citing alleged anomalies the antigraft court should look into. “It does not take an expert to analyze the failures of [the MRTC] management,” Poe said. “Just ask the passengers who line up for hours and experience the stalling trains, the out-of-order elevators and escalators, the broken aircon units, among others.”
TPP
TPP pact’s implementation watched Business World 4th Feb 2016
WELLINGTON/MANILA -- The Trans-Pacific Partnership (TPP), one of the world’s biggest multinational trade deals, was signed by 12 member nations on Thursday in New Zealand, but the massive trade pact will still require years of tough negotiations before it becomes a reality. The development prompted a key Philippine economic manager yesterday to prod the government -- whose leadership will change on June 30 -- to “work hard not to pass up” the opportunity to observe the new deal’s “incubating period as implementation sets in” as the country charts its own path to eventually join the arrangement “in the hopefully near future.”
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