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PHL braces for US rating downgrade impact

admin — Sun, 07 Aug 2011 11:18:46 +0000

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US rating downgrade impact

MANILA, Philippines (Xinhua) – The Philippine government gave its assurance today its economic managers are “prepared to do” what is necessary to protect the Philippines from the negative effects of the US credit rating downgrade.

The Philippine government, especially the economic managers, have been keeping a close watch on developments in the United States, where Standard and Poor’s downgraded its Triple A credit rating over the weekend, deputy presidential spokesperson Abigail Valte said in an interview with a state-run radio station.

Asked to comment on it, Valte said “at this point, we think it’ s too early to tell, although it’s a given that the downgrade has an effect on most countries. Our economic managers are watching this and are prepared to do what is required to address the impact of the downgrade.”

She said the economic managers are expected to discuss the development at their regular weekly meeting this week, but have expectedly discussed it among themselves ahead of the meeting.

“Our economic managers are on top of the situation … They will readily address the situation,” said Valte.

source philstar.com

Manila kicks off Pacquiao, Marquez ‘tour’

admin — Sun, 07 Aug 2011 11:13:03 +0000

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Pacquiao, Marquez ‘tour

The trilogy between eight-division world boxing champion Manny Pacquiao and two-time opponent Juan Manuel Marquez, who last fought in Las Vegas three years ago, is four months away.

Early September, JuanMa and his entourage are expected to arrive in Manila for what will be the launch of the bout’s promotional tour.

The tour will take Marquez and Pacquiao to selected cities around the world. Pacquiao requested original stops Tokyo and Dubai be scratched off the itinerary to devote more time to his training and conditioning.

That was what Top Rank promoter Bob Arum told my colleague Ronwaldo, who spares no expense on overseas phone calls.

Ronwaldo said Arum told him Marquez is tentatively arriving in Manila Sept. 1.

* * *

So what exactly will happen during the Manila tour?

Nothing much is known at this stage except that the one-day event will be held at the Quirino Grandstand, with thousands expected to attend.

In fact, the Pacman has met with Manila Mayor Alfredo Lim weeks ago to seek his support and assistance on traffic arrangements and security preparations around the proposed area.

Mayor Lim did not hesitate to assure the Sarangani representative of his full support, even offering the city’s resources.

“We are more than willing to be of help in any way we can,” he said.

* * *

Curious to know what happens in a promo tour for boxing, I asked boxing writer Abac Cordero, who has covered practically all of Pacquiao’s past fights, if he has an inkling of what the activities will be.

Abac may have been joking, but he said the tentative plan is to hold some kind of a rally, with a religious theme.

“Parang prayer rally with both boxers receiving communion—nothing definite yet,” said the scribe.

James Meneses of Solar Entertainment, which is organizing the affair confirmed that the script of the program is still in the works, but will soon be finalized.

And I thought there would be much singing and dancing in the event, with sports and show biz celebrities present.

* * *

The scribes thought the two boxers were overly shy, that’s why they hardly talked and could hardly answer the questions poised by the media during the press conference tendered for them by AKTV-5 recently.

They didn’t really have much to say—and that’s an understatement—and somebody during the presscon joked that the two would let their fists do the talking when they square off last night at the Island Cove Hotel and Leisure Park in Kawit, Cavite, for the WBO Asia Pacific flyweight title

“More than anything, this is going to be an acid test for Froilan Saludar to determine if he is ready to advance to the next level,” said Saludar’s manager.

The 22-year-old Saludar, who comes from the well-known boxing family of General Santos, is one of the country’s promising prospects for the world title in the 108-pound division, and his 12-round fight against veteran Gabriel Pumar, 25, serves as the toughest challenge of his two-year pro career.

We later found out that the reason the two hardly spoke was that they could only speak in Visayan and we were talking to both either in English or Tagalog.

via | Inquirer Sports.

BPI seeks outstanding children of overseas Filipinos

admin — Mon, 27 Jun 2011 16:51:38 +0000

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MANILA, Philippines – The Bank of the Philippine Islands (BPI) is searching for outstanding children of overseas Filipinos (OF) to join the 2011 Search for the Ten Outstanding Expat Pinoy Children.

On its fifth year, the Search for Ten Outstanding Expat Pinoy children coincides with the 160th anniversary celebration of BPI.

The grand search will award children of overseas Filipinos with exceptional achievements in academic and non-academic fields in the categories of Ibang Klaseng Talino, Ibang Klaseng Community Leader, Ibang Klaseng Entrepreneur, and Ibang Klaseng Artist/Athlete categories.

This nationwide search is open to college students not more than 21 years old, with no failing grade and with a parent holding a current work contract abroad.

To join, applicants must submit an essay titled “What is the strongest characteristic that you have which you think is unique to an OF son/daughter that you believe is beneficial to change the community around you?” or alternatively “Ano sa palagay mo ang natatangi mong katangian bilang anak ng isang overseas Filipino worker na makatutulong sa pagpapaunlad ng iyong pamayanan?” in either English or Filipino with at least 1,500 to maximum of 2,000 words.

A screening committee will judge the applicants based on their academic excellence, community contribution, and other non-academic talents or skills such as sports, music, or arts.

Seven students will be awarded with the Ibang Klaseng Talino award, and three students will be given the Ibang Klaseng Community Leader, Ibang Klaseng Entrepreneur, and Ibang Klaseng Artist/Athlete awards.

Application period is until Aug. 15, 2011.

First introduced in 2007, BPI’s Search for the Ten Outstanding Expat Pinoy Children empowers the youth and their OF parents by recognizing their significant contributions in the country as model families and modern day heroes of today’s generation.

Details and application forms are available at www.bpiexpressonline.com

The Philippine Star

Filipino teenager poised to be named world’s smallest man

admin — Sat, 11 Jun 2011 21:22:18 +0000

SINDANGAN, Philippines smallest man

— In this sleepy town by the sea, a new international celebrity is about to be crowned.

Junrey I. Balawing, 17, is expected to be confirmed Sunday by Guinness World Records as the world’s shortest man.

According to local health officials here in the province of Zamboanga del Norte on the southern island of Mindanao, the teenager, whose 18th birthday coincides Sunday with Philippines Independence Day, stands a mere 22 and \ inches tall, about the size of a one-year-old.

If the measurements are confirmed, Balawing could also become the shortest person ever recorded in history, according to Craig Glenday, editor-in-chief of Guinness World Records.

“It’s a significant event, really,” said Glenday, who along with several other Guinness World Records officials visited the small town Saturday to make the final determination.

Once it’s official, Balawing will smash the current record by nearly two inches.

The current title holder is Khagendra Thapa Magar, who stands at 26.4 inches, according to the organization.

According to Glenday, the young man will undergo three sets of measurements to confirm his height.

Balawing has not grown since he was a toddler, and he struggles to walk, even with assistance, and can barely stand on his own.

Doctors and other local health officials say an endocrine imbalance appears to be the cause of his condition. He also appears to lack normal growth hormones, according to Dr. Lolita Hamry, municipal health director for Sindangan.

Balawing mugged pleasantly for the cameras Saturday as Glenday and other Guinness officials visited the town to take measurements for the record books, clearly relishing being at the center of attention.

“He can understand what you say to him, but he’s not that articulate,” Hamry said. “His mind is really that of a one-year-old.”

Delia C. Jamisala, a nurse at the center, described Balawing’s case as baffling.

“He’s had complete immunizations,” she said. Neither his parents nor three other siblings share his condition. “Maybe it’s genetics. But (otherwise) Junrey is completely healthy.”

(Brown is a McClatchy special correspondent.) mcclatchydc.com

Rains to ease starting today, says Pagasa

admin — Wed, 08 Jun 2011 19:45:09 +0000

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MANILA, Philippines -

There will be less rain today as a low-pressure area, which triggered yesterday’s continuous showers, has left the country.

“The weather situation is expected to improve starting tomorrow (today) afternoon until Saturday. There will be rain tomorrow (today) but not as heavy as today (yesterday),” Nathaniel Servando, acting administrator of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA), said in a text message.

PAGASA weather division chief Robert Sawi said the low-pressure area is expected to move northwest towards the South China Sea today.

The low-pressure area brought moderate to heavy rains over some parts of Luzon, including Metro Manila, and the Visayas yesterday.

As of 8 a.m. Yesterday, the low-pressure area was spotted at 30 kilometers north of Calapan, Oriental Mindoro, PAGASA said in an advisory.

“The (low-pressure area) will bring scattered rains and thunderstorms over Central and Southern Luzon and the Visayas, becoming widespread rains over Southern Luzon and Western Visayas which may trigger flashfloods and landslides,” PAGASA said in its advisory early yesterday.
.philstar.com/

Philippine stocks rebound

admin — Wed, 08 Jun 2011 19:38:05 +0000

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MANILA, Philippines—Local stocks rebounded on Wednesday as bargain-hunters found selective equities tempting after a three-day slump, shrugging off overseas jitters caused by US Federal Reserve Ben Bernanke’s grim outlook on the US economy.

The main-share Philippine Stock Exchange index added 18.99 points, or 0.45 percent, to 4,255.44.

Justino Calaycay Jr., a dealer at Accord Capital Equities Corp., said the index had erased most of the previous session’s losses as investors continued to digest a better-than-expected 4.5 percent inflation rate for May. “Prior to the report, the market’s negativity had intensified anticipating a breach of the 5 percent level and raising the specter of another round of interest rate hike when the Bangko Sentral meets next week,” Calaycay said.

With the lower-than-expected inflation report for May, some economists now see the probability of the central bank pausing on its monetary tightening stance during its next policy rate setting on Thursday next week.

The PSEi found a strong support near 4,230 as investors picked up selected blue chips. All counters firmed up except for the financial counter.

But value turnover was still thin at P3.62 billion, reflecting lack of conviction to participate in the market in a big way.

Despite the overall index gain, overall market was still sluggish as the day’s 61 advancers were edged out by 67 decliners while 46 stocks were unchanged.

AGI, SM Investments, Lepanto A (open only to local investors), Metrobank, Megaworld, Lepanto B (open to both local and foreign investors), Aboitiz Power, EDC and DMCI led the index higher. Non-index stock East Asia Power was also up in heavy trade on a prospective backdoor listing of high-rise developer Century Properties.

On the other hand, index gains were tempered by losses incurred by Banco de Oro, SM Prime Holdings, Metro Pacific Investments, URC and BPI. San Miguel Corp. is also still battered by profit-taking after a strong performance last week. PSE also traded lower.

business.inquirer.net

Thousands jam to different tunes at LP, Villar concerts

admin — Fri, 26 Feb 2010 07:37:04 +0000

Philip Morris, Fortune Tobacco in ‘marriage of equals’
MANILA, Philippines – It’s being called a marriage of equals. Philip Morris, maker of Marlboro, with a 30% share of the local cigarette market, and Lucio Tan’s Fortune Tobacco, with a 60% market share, have agreed to combine their businesses under a 50-50 joint venture company called Philip Morris Fortune Tobacco Corp. (PMFTC) Inc.

Read more on ABS-CBNNEWS.com

Sonsona confident of world title win
MANILA, Philippines – “Marvelous” Marvin Sonsona shoots to reclaim boxing glory when he faces Puerto Rican Wilfredo Vazquez, Jr. on Saturday (Sunday in Manila) at the Ruben Rodriguez Coliseum in Bayamon, Puerto Rico.

Read more on ABS-CBNNEWS.com

Scholarship para sa mga kaanak ng OFW sa Taiwan inilunsad ng MECO
Pormal ng inilunsad ng Manila Economic and Cultural Office (MECO) ang bagong scholarship program para sa mga kuwalipikadong miembro ng pamilya ng mga OFW partikular yaong mga nagnanais mag-enrol sa science at technology college courses.

Read more on ABS-CBNNEWS.com

ABS-CBN News Online Beta

admin — Mon, 22 Feb 2010 19:21:47 +0000

Philippines triples rice yield
Over the past 50 years, the Philippines has more than tripled its rice yield while the world average rice yield has increased only about 2.3 times.

Read more on ABS-CBNNEWS.com

Philippines Triples Its Rice Yield
Los Baños, Philippines: In the last fifty years, the Philippines has more than tripled its rice yield, while the world average rice yield has increased only about 2.3 times.Despite being criticized as a poor rice producer because of its status as the world’s biggest rice importer, the Philippines has actually done remarkably well in raising its rice yields from 1.16 tons per hectare in 1960* to …

Read more on ABS-CBNNEWS.com

Peace and development prospects for Southern Philippines

admin — Sat, 06 Feb 2010 07:19:26 +0000

Philippines January Tax Revenue Collection Exceeds Target
Philippines January Tax Revenue Collection Exceeds Target

Ghosts of Manila: The Fateful Blood Feud Between Muhammad Ali and Joe Frazier

admin — Sun, 31 Jan 2010 19:40:19 +0000

Product Description

When Muhammad Ali met Joe Frazier in Manila for their third fight, their rivalry had spun out of control. The Ali-Frazier matchup had become a madness, inflamed by the media and the politics of race. When the “Thrilla in Manila” was over, one man was left with a ruin of a life; the other was battered to his soul.

Mark Kram covered that fight for Sports Illustrated in an award-winning article. Now his riveting book reappraises the boxers — who they are and who they were. And in a voice as powerful as a heavyweight punch, Kram explodes the myths surrounding each fighter, particularly Ali. A controversial, no-holds-barred account, Ghosts of Manila ranks with the finest boxing books ever written.

Amazon.com Review
Muhammad Ali once admitted to former Sports Illustrated writer Mark Kram that he and Joe Frazier went to Manila for the third of their three epic fights “as champions and we came back as old men.” Boxing is a particularly unforgiving sport for old men, especially those–as Kram tells us in Ghosts of Manila, his thoroughly riveting account of one of the Sweet Science’s greatest rivalries–”with too much pride, heart, and unexamined confidence for their own well-being.” Which defines Ali and Frazier’s essential characters in a nutshell.

Kram begins his saga in the present, looking at the different kinds of isolation that currently surround each man’s life, then dances back and forth through time to spar with just who these warriors have been and how they came to be the icons, for better or worse, they became. Ghosts of Manila is more than a twin biography, though; it is an often haunting meditation on how much we project onto our athletes, and how destructive the projections can be. As much as any punishment sustained in three of the most brutal title fights in heavyweight history, the baggage–personal and societal–that Ali and Frazier carried into and out of the ring changed them physically, mentally, emotionally, and spiritually. Did Ali earn all the love? Did Frazier deserve all the scorn? To answer the questions, Kram bravely goes toe to toe with Ali worship and Ali’s myth. His daring rewards us with knockout profiles of two legends more complex and real than mere iconography might allow. –Jeff Silverman

Ghosts of Manila: The Fateful Blood Feud Between Muhammad Ali and Joe Frazier