New approved Philippine ecozones

New Cavite ecozone seen luring P1.8B in investments

Story by Alden M. Monzon 
Inquirer.net
08 April 2024

MANILA, Philippines — The newly-proclaimed economic zone in Cavite is expected to attract more than P1.8 billion in new investments and create nearly 200 new jobs during its construction, the Philippine Economic Zone Authority said last week.

The investment promotion agency told the Inquirer that the prospective value of investments is P1.838 billion for the 40.4-hectare MetroCas Industrial Estates Special Economic Zone, which will rise in Barangay Calibuyo in Tanza, Cavite.

Peza added that the prospective job generation for the economic zone is 180 positions during construction.

The MetroCas ecozone is one of the two new special economic zones that were declared through Proclamation No. 512, which Executive Secretary Lucas Bersamin signed last April 1.

The other is the Arcovia City in Barangay Ugong, Pasig, a 12.4-hectare information technology park of tycoon Andrew Tan’s Megaworld Corp.

According to Peza, an investment of P50 million is expected on the fit out of the project, while about 170 to 240 direct jobs are anticipated to be created.

420 ecozones

To date, there are over 420 economic zones operating in the Philippines, the majority of which are located in Luzon.

During the first quarter of this year, Peza has approved P14.95 billion worth of new investments spanning 50 new and expansion projects inside these economic hubs.

Pinoy flavors in McDo snackline

Filipino ChocNut, sweet corn among international fast food chain's new offerings

Deni Rose M. Afinidad-Bernardo
Philstar.com
08 April 2024

MANILA, Philippines — In the ‘80s and ‘90s, alongside Funny Komiks and “Gee, Your Hair Smells Terrific,” among the hallmarks of childhood is having binged on Choc Nut and sweet corn-flavored snacks.

Jumping into the ‘80s and ‘90s nostalgia bandwagon is fast food chain McDonald’s, which for only a limited time has included Choc Nut and sweet corn into its menu.

In time for battling the ongoing scorching heat, the chain introduces the chocolatey, nutty, and sweet ChocNut Sundae and McCafe ChocNut Frappe. These complement the new side selections that include the Sweet Corn McShaker Fries, which has a sweet and salty taste with a distinct sweet corn flavor shaken into McDonald’s World-Famous Fries.

The sweet corn fries can be enjoyed ala carte in medium, large or BFF, or as your fries upgrade to any meal. The ChocNut Sundae likewise may be enjoyed ala carte or as an add-on to your meal for P55, while the ChocNut Frappe is available in medium and large ala carte or as an upgrade to your drink at branches with McCafe only. 

“By incorporating familiar Filipino flavors into our menu, we are not only catering to the Filipino palate but also creating a shared experience across generations,” stated Katrina Lee-Chua, the fast food chain’s local Director for Marketing and Channels.

The chain also improved its Double Cheeseburger wherein the cheese is melted to the right temperature, making the 100% beef patties juicier thanks to a wider gap in the flattening grill, and the vegetables fresher with a 60% reduction in stored vegetables. 

“With our Best-Everrr Burgers and new nostalgic sides, we aim to create unforgettable moments and deliver feel-good experiences that keep our fans of all ages coming back for more,” added Lee-Chua.

Cebuana queens in the international pageants

5 Cebuana queens of this generation making a mark in the international pageant stage

Story by Immae Lachica
Cebu Daily News
08 April 2024

CEBU CITY, Philippines— One of the most prized possessions of the Queen City of the South is the beautiful and engaging people that make this city one of a kind.

People, who ooze with talent, skill, and confidence to make them known and bring pride and joy to Cebu.

Today, as we celebrate ‘Pageant Day,’ let’s take a look at this generation’s Cebuana beauty queens, who did not just represent Cebu, but the Philippines on the international pageant stage.

Starting with Talisay-beauty, Gazini Ganados, 28, paved the way for Cebuana beauty queens to gain confidence back when she represented the Philippines during Miss Universe 2019.

Ganados may have fallen short of being crowned the most beautiful woman in the universe, but she still made an indelible mark in the pageant scene as she ended her Miss Universe journey as part of the top 20 finalists.

Leaving the competition with another mark and that is winning the Best in National Costume award which was made by a renowned Cebuano fashion designer Cary Santiago.

Another Miss Universe representative from Cebu is the one who broke a lot of barriers and made it known that anyone can be Miss Universe.

Beatrice Luigi Gomez finished her Miss Universe 2021 stint in the top five and left something that would go on for ages.

She was the first beauty queen in the Philippines, who did not hold back in showing her armband tattoo and who gladly introduced herself as part of the LGBTQ community.

She ended her MU journey in a Francis Liberan creation called “Pintados.”

From two powerhouses on the Miss Universe stage, let us head down to another pageant stage with another Cebuana beauty queen with several titles under her belt.

Nicole Borromeo started her pageant journey by winning Miss Silka 2017 which led her to win more pageant titles like Miss Mandaue 2018 first runner-up, Sinulog Festival Queen 2019, Reyna ng Aliwan 2019, placed second in Miss Teen Philippines 2019, crowned Eat Bulaga’s Miss Millenial Philippines 2019 then headed on to get the crown for Binibining Pilipinas International that lead her to win third place in Miss International 2023 in Shibuya, Tokyo, Japan.

And just recently, another pageant veteran from Cebu has made her spot on the international pageant stage.

Maria Gigante, a host, a fashion model, and now crowned as Miss Universal Woman 2024.

Gigante is not a new face to the pageant industry for she has also joined local and national pageants herself that represented Cebu.

This time, she was able to bring home an international crown that makes up her pageant journey.

Gigante is set to work with charitable projects that are partners with Miss Universal Woman.

As we are on the topic of talking about queens, let us tag along one honorable mention who also brought pride and joy to Cebu as an LGBTQA queen.

Miss International Queen 2022 Fuschia Ravena.

This beauty queen took the house down in 2022 as she made her pageant journey one for the books, not just for her but for the Cebuano LGBTQA community who showed nothing but love and support to the queen.

In an interview with Ravena, she said to CDN Digital that in her pageant journey, she would use her voice to spread the message of love.”

And now, Ravena continues to inspire others to go out there, chase their dreams, and make a mark in ways they know they can.

These are just some of the pageant queens that put Cebu on the map of pageantry in recent years.

Queens made sure that they too can make a difference by showcasing the beautiful resources of Cebu, showing wit and intelligence, class and beauty, and most especially the will to make a difference through their chosen advocacies.

Mabuhi ang mga Cebuana beauty queens!

European firm invests in Batangas

5,000 new jobs await Pinoys at future Batangas plant

Story by Alden M. Monzon
Inquirer.net
08 April 2024

The EMS Group of Companies is partnering with a European firm to set up a Batangas production plant for goods targeting female consumers, a venture expected to create up to 5,000 new jobs.

EMS Group of Companies president and chief executive Ferdinand Ferrer told reporters last week they were in the process of finalizing the entry of the European firm.

He said they hoped to start facilitating documentary requirements for the partnership in June.

“The facility is there. But now we have to re-facilitate it to suit these new products,” Ferrer said on the sidelines of the Philippine Chamber of Commerce and Industry’s general membership meeting at the Dusit Thani Hotel in Makati. He declined to specify the amount of potential investment.

The EMS Group of Companies has been in operation in the Philippines for over 15 years and currently has around 18,000 employees. Founded by Ferrer, it has four local subsidiaries engaged in electronics manufacturing, training equipment and learning solutions, and recruitment.

He said they were also wooing other foreign firms, one American and one Japanese, planning to move their assembly operations out of China.

Ferrer noted a rising trend in the international business community called “ABC,” which stands for “Anything but China,” which is characterized by the flight of companies from the East Asian country. INQ

PH- Australia improved trade relations

PH makes second mango shipment to Australia

Story by Janine Alexis Miguel
Manila Times
08 April 2024

THE Philippines has sent a second shipment of mangoes to Australia, which will help increase the country's bilateral trade with that country, according to the Department of Trade and Industry (DTI).

In a statement over the weekend, Trade Secretary Alfredo Pascual said the latest mango shipment will help increase the country's bilateral trade with Australia, which reached $4.1 billion in 2023, or 20 percent higher from the previous year's $3.4 billion.

"The continued growth in our bilateral trade underscores the vast potential for our products in the Australian market. The successful export of our mangoes exemplifies the significant strides we're making in facilitating agricultural trade, which is pivotal for our economic agenda," he said.

Moreover, Pascual highlighted the significance of key policy instruments such as the Second Protocol of the Asean-Australia-New Zealand Free Trade Agreement (AANZFTA), ratified by the Philippines on Feb. 14, 2024, in further optimizing the trade and investment relationship between the two countries.

Asean is the Association of Southeast Asian Nations.

"We would like to provide enhanced market access for our stakeholders/exporters to as many countries as possible, even the non-traditional partners. For this year, we are working on an FTA with EU (European Union), UAE (United Arab Emirates), and Canada under the Asean-Canada FTA negotiation," the trade chief said.

The logistics firm FastboxPH, which facilitated the mango delivery, has noted a surge in demand for the tropical fruit in Australia, attributing it to the quality and exceptional taste of Philippine mangoes.

"The overwhelmingly positive response to our initial shipment last year has paved the way for a triumphant return of Philippine mangoes to Australian tables this April," FastboxPH Managing Director Miguel Ripol said.

FastboxPH is positioned to expand its reach across the country and establish partnerships with more retailers and distributors nationwide to ensure wider availability of Philippine mangoes to Australian consumers.

Philippine Ambassador to Australia Ma. Hellen de la Vega emphasized the importance of the second mango shipment under the strategic partnership forged in September 2023 between the two countries.

"The Philippines and Australia share a strong commitment to fostering trade ties, and the arrival of our mangoes signifies a delightful milestone in our partnership, especially as we celebrate Filipino Food Month in April," she said.

The Philippine Trade and Investment Center in Sydney (PTIC-Sydney), an agency under the DTI, spearheads the effort to broaden the market for high-quality Philippine agricultural goods, specifically mangoes. Through strategic measures like trade expos and consultations, PTIC-Sydney is actively striving to boost the global presence of Philippine products.

"With the DTI spearheading efforts and the unwavering dedication of all involved parties, the future of Philippine mango exports to Australia looks brighter than ever, promising mutual prosperity for both nations," the DTI said.

World Bank optimistic about PH growth

PH growth could hit 6% – WB economist

Story by Niña Myka Pauline Arceo
Manila Times
08 April 2024

THE Philippines could grow by 6.0 percent this year, a World Bank economist said, given significant investments and reforms to boost productivity.

"[If] we look at the regional perspective, the Philippines is doing quite well," World Bank lead economist Gonzalo Varela told reporters last week. "But there are factors that could increase growth further."

The Washington-based World Bank expects the country to grow by 5.8 percent in 2024, missing a just-revised target of 6.0-7.0 percent.

Varela said that if geopolitical tensions ease and oil prices decrease, among other factors, these could positively impact the local economy and potentially boost growth.

Domestically, if inflation pressures ease and the central bank starts cutting interest rates, these could stimulate investment and consumer demand.

"If you consider these alternative ways, what you get is a range of potential output growth that goes from 5.5 to 6 percent," Varela said.

"[O]ver the past few years, what you see is that the economy has been very close to that potential output growth. So it has been above or below, but very close to that range," he added.

Varela highlighted the importance of increasing investments and implementing reforms, saying these would sustain the economy and create high-quality jobs.

Economic growth slowed to 5.6 percent last year, missing the 6.0- to 7.0-percent target, but was still among the highest in the region.

Fil-Am brothers in NHL playoffs

Fil-Am brothers to play in NHL playoffs

Story by Aric John Sy Cua
Manila Times
07 April 2024

FOR the first time in their careers, the National Hockey League (NHL) will see two Filipino American brothers participating in this year's playoffs.

The teams of brothers Jason and Nicholas Robertson, the Dallas Stars and the Toronto Maple Leafs, have clinched their playoff spots on days they did not even play.

Jason's Stars clinched their playoff berth first on Maundy Thursday, March 29, being the first team in the Western Conference to do so after beating the Vancouver Canucks the day before.

As of this writing, Jason has 27 goals and 50 assists for 77 points in 76 regular season games.

Meanwhile, on Friday (Saturday in Manila), the Leafs, where Jason's brother Nicholas "Nick" Robertson is playing, had also clinched their playoff berth.

Despite losing 4-1 to the Tampa Bay Lightning on Wednesday, the Leafs got their playoff tickets following a 4-2 Carolina Hurricanes victory over the Washington Capitals, a 4-2 Buffalo Sabres win over the Philadelphia Flyers, and a 4-3 New York Rangers win over the Detroit Red Wings.

The younger Robertson, in 51 regular season games with the Leafs as of this writing, has 12 goals and 12 assists for 24 points.

Last season, Nick missed the rest of the season and playoffs following a shoulder injury.

For the Leafs, it is their eighth straight NHL playoff appearance, having made the playoffs during the era of forward Auston Matthews, who currently has 63 goals and 36 assists for 99 points in 74 games this regular season.

Meanwhile, a third NHL player of Filipino descent, defenseman Matt Dumba, a Filipino Canadian, will also join the playoffs as a member of the Tampa Bay Lightning, who also had the same clinching scenario with the Leafs.

Dumba was acquired by the Lightning from the Arizona Coyotes during the NHL trade deadline. This season, in 70 games with the Coyotes and Lightning, he has 4 goals and 7 assists for 11 points.

The NHL playoffs begin on April 20.

UP College of Law World Champion at Jessup Cup

UP College of Law wins world’s largest and oldest moot court event

Story by Zeus Legaspi 
Inquirer.net
07 April 2024

MANILA, Philippines — The University of the Philippines (UP) College of Law bagged the title of World Champions at the 2024 Philip C. Jessup Moot Court Competition, it announced on Sunday.

In a post on Facebook, UP College of Law said that its team’s victory comes nearly three decades after their last triumph in the same competition held in Washington D.C. in the United States.

Historic triumph
“The entire UP community joins in celebrating this historic triumph, which not only underscores UP Law’s legacy of excellence but also inspires future generations of legal scholars and practitioners worldwide,” UP College of Law’s post read. 

In a separate post on its website, UP College of Law said that the “Jessup” is the world’s largest and oldest moot court competition for law students, with participants from over 600 law schools in 100 countries and jurisdictions.

Philippines first time to join world's biggest children's book fair

A first for PH at world's biggest children's book fair

Story by Franco Jose C. Baroña
Manila Times
07 April 2024

THE Philippines will participate for the first time in the world's biggest international fair for children's content, National Book Development Board (NBDB) Executive Director Charisse Aquino-Tugade said.

The event will be held at the 2024 Bologna Children's Book Fair (BCBF) from April 8 to 11, 2024 at the BolognaFiere Exhibition Centre in Bologna, Italy.

A curated selection of 103 Philippine books will be featured at the BCBF. These titles by Filipino authors explore themes such as culture, diversity, identity, peace, community and the environment, said Aquino-Tugade, adding that the NBDB partnered with the Philippine Board on Books for Young People (BCBF).

Aquino-Tugade said the Philippine delegation included acclaimed artists Beth Parrocha, a founding member of Ang INK and illustrator of "The Pencil Who Would Not Write" and "Bulul"; Liza Flores, who did the illustrations in "The Secret is in the Soil"; and authors Russell Molina and Mary Ann Ordinario.

For the country's participation in the leading professional fair for children's books in the world, Aquino-Tugade said they aimed not only to present the talent of Filipino creators but also "to secure translation rights, expand networks with foreign publishers, and foster collaborations between local and international counterparts."

She said Philippine comics will also take center stage at the BCBF's Comics Corner, courtesy of Avenida Books founder and Trese publisher Nida Ramirez, who has been honored with a fellowship from the BolognaFiere Group.

Aquino-Tugade said that the country's presence in the BCBF, as well as in the upcoming Asian Festival for Children's Content, where it will be the Country of Focus, and the upcoming Guest of Honor role in Frankfurter Buchmesse 2025, "shall help solidify the Philippines as an emerging creative content capital in Southeast Asia."

"We cannot wait to introduce our children's book industry to the global stage — the many Filipino authors and publishers exploring themes of peace, identity and community," she said.

The BCBF, held yearly, is the meeting place for all professionals involved with creating and publishing children's books. It is mainly used for buying and selling rights for translations and derived products like movies or animated series.

This year, with over 1,500 exhibitors from around 100 countries, including the Philippines, the fair expects over 25,000 visitors.

Designed by the award-winning artist and illustrator Aldy Aguirre, the Philippines' country stand is at Hall 29, Stand B24-C23.

Miss Universe 2015 attends Dior and Bulgari Fashion

Meet former Miss Universe Pia Wurtzbach: the German-Filipino actress is a UNAids ambassador and polyglot, attends Dior and Bulgari fashion shows, and wed last year after vowing she never would

Story by Gloria Fung 
South China Morning Post

Being blessed with both beauty and brains will always get you noticed. Happily, actress and model Pia Wurtzbach has leveraged her image and the power of social media for good since finding fame as Miss Universe, using her talents to advocate for sexual and reproductive health, LGBTQ rights and gender equality.

With a whopping 14.7 million followers on Instagram, Wurtzbach began her journey in front of the camera at the tender age of four. Having started out appearing in television shows and adverts, she began actively taking part in pageants in the early to mid-2010s. Eventually, she made it to the big time, and was selected to represent the Philippines at Miss Universe 2015.

She would go on to bring home the crown, making her only the third Filipino, and the first in over four decades, to do so.

The title made her famous overnight and she now uses her platform to speak out in her home country about sexual and reproductive health, women's rights and her support for the LGBTQ community. She has also been named Asia-Pacific goodwill ambassador for UNAids, and had an HIV test in front of cameras in 2016 to encourage people to know their HIV status.

Her talents also extend to writing. Last year, Wurtzbach penned Queen of the Universe: A Novel: Love, Truth, Beauty. Fans noted that the protagonist shares similarities with the beauty queen in her pursuit of success, love and happiness.

In her late 20s, Wurtzbach told her fans that she wasn't planning on marrying or having children. However she had a change of heart after starting a relationship with Scottish entrepreneur Jeremy Jauncey in 2020. The pair dated for two years before getting engaged in 2022 and tying the knot in 2023.

The polyglot - who's half German and was born in Stuttgart - speaks the language along with English, Tagalog and Cebuano. It certainly helps, given the beauty queen's jet-setting lifestyle, travelling the world with Jauncey, appearing on red carpets, at film festivals and at fashion shows.

The 34-year-old has been spotted in the front row at Alexander McQueen and Bally and her fame has led her to several long-term relationships with luxury brands. 

Her Instagram page reveals that she's a frequent guest at Italian jeweller Bulgari's events and regularly walks red carpets in stunning creations from the brand. In March she received a People Of the Year award from PeopleAsia. At the event in Manila, Wurtzbach wore a gold asymmetric gown with a matching Serpenti bag from Bulgari.

True to her beauty queen title, Wurtzbach's style is elegant and feminine, and she often opts for flowing gowns at events.

At a recent Dior show, she showed up in an ensemble that paid homage to the house's iconic 1920s style better known as The New Look. In a blazer belted over a black pleated skirt, Wurtzbach looked every bit the star in a modern and feminine take on the power suit.

Filipinas in Forbes' Billionaires List

These Filipinas Made It to Forbes' 2024 Billionaires List

Story by Cosmopolitan Philippines
06 April 2024

Women continuously break the glass ceiling—and the 2024 Forbes rich list is clear proof of it.

The Forbes' World Billionaires List stated that 369 out of the 2,781 declared billionaires are women. That's 13.3 percent of the world's wealthiest people. Their net worth? It's greater than ever, amounting to nearly $1.8 trillion (P101,507,400,000,000).

Here, we proudly report that three of those 369 wealthy women are Filipinas. These Pinays have been trailblazers not only in the billionaires scene but most importantly, in their respective industries.

Who are the Filipinas that made it to Forbes' World Billionaires List 2024?

3. Susan Co

Susan Co might be new to Forbes' billionaires list, but her legacy has been going on for decades already in the Philippines. She is the co-founder and co-owner of the famous retail supermarket chain Puregold. The supermarket still stands as one of the most affordable supermarket chains in the country and has become an icon in the retail industry. Forbes noted that the retail store has established 500 stores across the Philippines. She was also included in Forbes's "50 Over 50" in 2023.

Susan, together with her husband Lucio Co and family also heads Cosco Capital which has entered the industry of liquor distribution and real estate. Susan is now 61 years old and has a net worth of $1.1 billion (P62,045,500,000.00).

2. Elizabeth Sy

Elizabeth Sy is the second child of the late business tycoon, Henry Sy, who is known for establishing the biggest mall franchise in the Philippines, SM Supermalls. She has a net worth of $2.1 billion (P118,450,500,000.00).

Now 71 years old, Elizabeth is the president and chairman of SM Hotels and Conventions Corp. and has been an advisor for SM Investments since 2012.

1. Teresita Sy-Coson

Joining Elizabeth in the list of Pinay billionaires is her elder sister, Teresita Sy-Coson. Teresita is currently the vice chairperson of SM Investments. Other than that, she is the chairperson of one of the largest banks in the Philippines, BDO Unibank. That makes her expertise range from retail merchandising to mall development, and also banking. Her net worth is $2.3 billion (P129,731,500,000.00).

Philippines population is slowing down

Philippines' population growth rate slows down

Story by Arlie O. Calalo
Manila Times
06 April 2024

THE country's population growth rate has slowed down even as its aging population grew by 5 percent, the Commission on Population and Development (CPD) said on Friday.

The commission also noted what it calls population momentum, where the number of Filipinos is still on the rise owing to the fact that the children under the population pyramid are growing and also giving birth.

"It's still adding in absolute number," said Mylin Mirasol Quiray, acting chief of CPD-Knowledge, Management and Communication Division.

Quiray said the current fertility rate is 1.5 percent, or a little less than two children for every couple.

"It's more surprising in the National Capital Region because it's only 1.2 percent, meaning a couple is satisfied to have only one child in a family," she said in a television interview.

The growth rate is highest in Bangsamoro Autonomous Region in Muslim Mindanao, where a couple is likely to have an average of three children.

Quiray also set straight the wrong assumption that the birth rate was behind the increase in Metro Manila's population.

"The population growth rate in Metro Manila is not due to births but migration of people from the provinces who flock to the metropolis for economic opportunities," she said.

A study by the Philippine Statistical Research and Training Institute (PSRTI) showed a drop in the number of births at the height of the Covid-19 pandemic.

Quiray said there were 1.3 million births in 2021, which is lower than 1.5 million before the pandemic peaked in 2020.

The figure rose slightly in 2022 to 1.4 million when the pandemic was almost over.

"During the pandemic, we all thought that it would shoot up but it went down. However, when the restrictions were lifted, it went up a little," she said.

She said that during the pandemic, most Filipinos were more concerned about their economic condition and lack of employment than engaging in sex.

The PSRTI study indicated that fewer people chose to get married after the pandemic.

Quiray said the data suggests changing values regarding marriage, with a live-in arrangement preferred by people who are in the 30-year-old bracket.

However, live-in couples prefer to delay having a baby "and instead would love to have a pet as their child," she added.

Quiray said the working age (15 to 64 years old) remains high, although the number of older persons is increasing.

"The number could be better, since the people of working age "are that one that supports the depending population that is 0-14 years old and 65 years old above," she said.

"But the question is, are the working age employed, educated or healthy enough to support these dependents?" Quiray said.

Among the regions, Ilocos already has an aging population, based on the United Nations standard.

Quiray said the commission will continue to promote modern family planning methods to ensure a high quality of life for Filipinos.

Young Zobel named WEF's Global Leaders

Next-generation Zobel named among WEF’s 2024 Young Global Leaders

Story by Meg J. Adonis
Inquirer.net
05 April 2024

MANILA, Philippines — Jaime Alfonso Zobel de Ayala, chair of AC Mobility and among conglomerate Ayala Corp.’s next-generation leaders, is included in the World Economic Forum’s (WEF) most promising Young Global Leaders (YGL) this year for making significant strides in the industry despite his youth.

The only son of Ayala chair Jaime Augusto Zobel de Ayala, the 32-year-old Jaime Alfonso joins about 90 other “dynamic and diverse” young leaders across the globe who have made an impact on economic development and social welfare.

“This recognition celebrates Jaime Alfonso Zobel de Ayala’s leadership in driving AC Mobility to lead the Philippines’ [electric vehicle] transition and become not only the country’s leading mobility ecosystem, but also one of the next growth engines for the Ayala group,” the company said in a statement on Thursday night.

Jaime Alfonso has been at the helm of AC Mobility, the Ayala Group’s mobility arm, since September 2023.

Prior to that, he was co-head of the conglomerate’s strategy and development group and oversaw the capital deployment process for new ventures.

He graduated from Harvard University in 2013 with a concentration in government and a secondary concentration in visual and environmental studies.

He also obtained his master’s degree in business administration from Columbia Business School in 2019.

Genuine stakeholder impact

The young Zobel previously told the Inquirer that it was important for his generation of leaders to ensure that their initiatives were generating “genuine stakeholder impact.”

“It is an honor that our efforts are being acknowledged here and abroad—and we credit the many generations of Ayala executives and employees that made this happen,” he said.

“For the present generation of family members and employees, we hope to follow in our forebears’ footsteps. We hope to continue along this path of impact and shared value creation, while making sure that the projects and businesses we launch are relevant and meaningful to the many people that we touch,” Jaime Alfonso added.

Philippines inflation easing - World Bank

World Bank sees inflation easing in Philippines

Story by Louella Desiderio

Philstar Global

05 April 2024

MANILA, Philippines — Inflation in the Philippines is expected to decline, but geopolitical conflicts that may drive up fuel prices are seen to pose risks, according to the World Bank.

Ayhan Kose, deputy chief economist of the World Bank group, told reporters that the multilateral agency expects a decline in global inflation, as well as in the Philippines.

“We are expecting inflation to continue coming down in the Philippines as well,” he said.

Inflation snapped a four-month downtrend as it quickened to 3.4 percent in February from 2.8 percent in January due to faster food and transport price increases.

Food inflation, in particular, rose to 4.8 percent in February from 3.3 percent in January due to increases in rice and meat prices.

Earlier this week, the Bangko Sentral ng Pilipinas (BSP) said it expects inflation to have continued to pick up in March to settle within the range of 3.4 to 4.2 percent.

The BSP said the continued increases in the prices of rice and meat, higher domestic oil prices and electricity rates are primary sources of upward pressures in March.

Meanwhile, lower prices of fruits, vegetables and fish along with the peso appreciation were cited as factors that could contribute to downward price pressures.

The Philippine Statistics Authority is set to report inflation data for March today.

While the World Bank expects inflation to decline, Kose said the multilateral agency has a cautious outlook on how inflation is going to evolve and how monetary policy is going to respond in the United States and other advanced economies, citing risks such as geopolitical tensions, which could affect global trade and prices.

“The elevated geopolitical tensions could disrupt commodity markets and could basically increase inflationary pressures,” he said.

He said a large part of inflation movements are driven by oil prices, especially in countries that depend on imported oil like the Philippines.

If oil prices go up due to intensified geopolitical conflicts, he said this could lead to higher inflation and delay interest rate cuts.

Gonzalo Varela, lead economist for the Philippines at the World Bank, said how the BSP would go about its rate cuts would depend on what happens with supply-side shocks and inflation expectations.

National Economic and Development Authority Secretary Arsenio Balisacan said the government is committed to keep inflation within the target range of two to four percent this year.

“We’ll work very hard to address the non-monetary measures that are contributing to that resurgence of inflation in recent months,” he said.

Bloomberry Resorts win ASEAN Games Awards

 Enrique Razon's Bloomberry Resorts Wins Awards Ahead of Solaire Resort North Opening

Story by Esquire Philippines 

05 April 2024

The ASEAN Gaming Awards, which bills itself as an "independent, fair and representative awards event that acknowledges the significant achievements of different players in the Asian gaming industry," has handed out two trophies to Enrique Razon-led Bloomberry Resorts Corporation and its flagship property, Solaire Resort Entertainment City.

Bloomberry Resorts was recognized Best Gaming Operator, beating other regional players like Galaxy Entertainment Group, Las Vegas Sands, MGM China, and Hann Resorts. Criteria for the award in the gaming industry include corporate governance; financial performance; strategy, vision, and implementation; brand recognition; and customer loyalty.

Solaire Resort Entertainment City, on the other hand, took home the trophy for Best Integrated Resort. The other nominees are Newport World Resorts, Okada Manila, Marina Bay Sands, and Galaxy Entertainment Group. This category encourages properties to provide more than just gaming as entertainment and diversify options for entertainment and F&B.

The awards couldn't have come at a better time for the Enrique Razon Jr.-owned Bloomberry Resorts Corporation as it gets ready for the official opening of its second integrated resort, Solaire Resort North, in May this year.

Iloilo is one of the cheapest tourist destinations in SEA

Iloilo is the 5th cheapest tourist destination in all of Southeast Asia this summer

Story by GMA Integrated News
04 April 2024

Iloilo is among the cheapest travel destinations in Southeast Asia this summer, booking platform Agoda said.

The Visayan city ranked 5th in Agoda's list, with accommodation rates going as low as P2,814 a night. Commonly referred to as the City of Love, Iloilo is known for stunning beaches, hidden lagoons, its 11-kilometer bike lane, and food. 

Topping the list with an average room rate of P1,576 is Thailand's Udon Thani, home to tourist spots like the Chinese Gate, Udon Thani City Museum, and Nong Prajak Park. Udon Thani is pretty close to Laos’ capital, Vientiane, which only takes a little over an hour by driving.

Completing the top five with most affordable accommodation rates in Southeast Asia are Surabaya in Indonesia (P2,195), Hue in Vietnam (P2,420), and Kuching in Malaysia (P2,758).

Bengaluru in India (P3,096), Narita in Japan (P3,996), and Kaohsiung in Taiwan (P5,684) are ranked 6th, 7th, and 8th respectively.

The average room rates indicated above were calculated based on Agoda booking data from March 1 to March 18, 2024. 

In November, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) named Iloilo as the first Philippine city to join its Creative Cities Network in the field of gastronomy.

— Hermes Joy Tunac/LA, GMA Integrated News

Cebu on Bangladesh's Top 5 Asian destination

5 budget-friendly summer vacation destinations in Asia

Samayla Mahjabin Koishy
thedailystar.net
Thu Apr 4, 2024 

With its rich culture, breath-taking landscapes, and fascinating historical sites Asia has countless destinations fit for a summer vacation. Many well-known tourist spots within the continent, however, are somewhat pricey. Thus, putting them out of reach for those on a tighter budget. With a wide range of affordable adventures, we have gathered all the information you need for your next budget-friendly summer getaway. So, put your travel plans in motion and get ready for an incredible summer in Asia!

Cebu, Philippines

Being one of the most affordable Southeast Asian vacation spots, Cebu is the Philippines' most popular tourist attraction. Pristine white-sand beaches, magnificent waterfalls, flourishing marine life, adventurous parks, and a variety of outdoor activities await travellers in Cebu. Landmarks like Magellan's Cross and Fort Santiago are essential sites for history buffs while Moalboal is the perfect island spot for divers and snorkelers. 

The tasty, affordable food on the streets of Cebu and travelling via the metro can save major expenses.

Visiting Cebu for three to seven days is most affordable. The average cost of a weeklong vacation is around Tk 49,000 but the majority of tourists spend between Tk 22,000 and 82,000. It covers sightseeing, transportation, meals, and accommodation. Additionally, if one books early, round-trip flights from Dhaka to Manila could be between Tk 38,000 to 43,000.

Goa, India

Travellers looking for affordable Asian vacation should visit Goa, India's smallest state yet a popular destination. Here, they can unwind in beachside shacks and enjoy the relaxed pace of life. To get the adrenaline pumping, tourists can visit exciting venues, such as the Saturday Night Market, the lively seaside pubs, or the Anjuna flea market. The whitewashed churches, crumbling forts, and magnificent baroque architecture of Old Goa also captivate many. 

There are a variety of inexpensive transportation choices in Goa, including buses, taxis, and motorcycle rentals. With a budget of about Tk 3,000 to 8,000 travellers might engage in enjoyable activities. On average, tourists spend Tk 25,000 for a week in Goa, while the range is Tk 10,000 to 60,000.

Flights from Dhaka to Goa, including a return journey, may cost as little as Tk 35,000.

Siem Reap, Cambodia

Located in Southeast Asia, Siem Reap is a gem with breath-taking temples, vibrant cafés, and serene canals. One of the most amazing sights in the world, Angkor Wat, can be reached from Siem Reap. Additionally, tourists may visit the Tonle Sap Floating Village and Siem Reap Night Market for an experience that combines modernity with the old. After a day of seeing the city, tourists should finish the visit with a foot massage and some Khmer food.

Accommodation, approximately Tk 16,000, may be pricey here. However, tourists may only spend about Tk 8,000 per week on transportation and meals. A budget of Tk 10,000 would be good for seeing sights and having fun. A three-day vacation to Cambodia may be a reasonable investment, considering the estimated cost of Tk 45,000 to 50,000.

As an additional expense, round-trip flights might cost about Tk 50,000.

Nha Trang, Vietnam

One of Southeast Asia's cheapest destinations, Nha Trang, is perfect for beachgoers. With its stunning coastline, unspoilt coral reefs, and network of islands, this coastal jewel is home to an almost unmatched summer getaway. Tourists can indulge in mouth-watering fresh seafood, experience mud baths, and go snorkelling. Other than the scenery, Nha Trang also has several architectural monuments and cultural places including Thap Ba Ponagar. 

The Nha Trang holiday budget may support modest planning and amenities. There is a wide variety of reasonably priced rental homes on the market. Cafes serving Vietnamese food are also very inexpensive. Things like excursions may cost around Tk 10,000. Spending a week in Nha Trang for a single person will cost about Tk 30,000.

From Dhaka to Ho Chi Minh City in Vietnam, the cost of a round trip might range from Tk 54,000 to 66,000.

Dushanbe, Tajikistan 

One can consider visiting Tajikistan's capital, Dushanbe, for a fantastic and economical Central Asia vacation. The city is charming in its own right, with its quirky Soviet-era artwork on walls and majestic buildings along tree-lined streets.

Tourists can stroll around Rudaki Park, see the Ayni Opera, and learn about the city's history at the Museum of Antiquities and the National Museum. One of the best ways to further experience authentic local food and culture is to peruse the local bazaars.

The price of a round-trip ticket to Tajikistan is about Tk 90,000. However, for as little as Tk 1000 to 1500, you may stay at a guesthouse or even someone's home. This often also includes supper and breakfast. Additionally, they may connect you with local drivers. The price may be around Tk 2000. In fact, a week's worth of travel in Dushanbe is readily manageable for one person for around Tk 38,000!

Philippines ranked 5th among the fastest growing Asian economies in 2024

20 Fastest Growing Economies in Asia in 2024

Talha Qureshi

Yahoo! Finance
Thu, April 4, 2024

In this article, we will look at the 20 fastest growing economies in Asia in 2024. If you want to skip our detailed analysis, you can go directly to the 5 Fastest Growing Economies in Asia in 2024.   

Asian Economy to Deliver Two-thirds to Global Growth in 2024 

With global growth proving to be more resilient than expected and inflation rates declining steadily, the IMF expects the global economy to grow at the previous year's rate of 3.1% in 2024 as well. Looking ahead, global growth is anticipated to increase modestly by 0.1% to reach 3.2% in 2025. Similar to the global growth trend of a strong economic recovery, the growth expectations for Asia have been raised. According to the January 30 report by the IMF, the region's economic growth for 2023 was revised upwards to be at 4.7%, as opposed to the October 2023 projections of 4.6%.

The regional growth forecasts for 2024 have also improved, and Asia's economic growth for the year is now projected at 4.5%, against the previous expectation of 4.2%. The emerging economy of India, which is demonstrating a strong domestic demand, and China's higher spending on disaster reconstruction and resilience projects are said to be the main contributing factors behind the upward revisions. Moreover, other notable factors boosting the region's economic growth include positive spillover from 2023, a supportive external environment, economic growth in the United States fostering high demand for technology, and positive policy stimulus from strong economies such as China and Thailand. To read more about the Asian economy, you can look at the 23 Richest Countries in Asia by GDP Per Capita in 2023 and the 25 Poorest Countries in Asia by GDP per Capita. 

As a result of the aforementioned factors, the region is on track to lead the global growth in 2024, the same as the previous year, and is expected to contribute two-thirds to the global growth. However, the continued economic resilience of the region is subject to effective risk management. Some potential challenges facing the Asian economy include the deteriorating property sector of China, the financial volatility of some highly indebted economies, a long and inefficient supply chain, and the threat of higher shipping costs. On the bright side, effective monetary and fiscal policies to manage these threats can further boost the economy. On January 30, Reuters reported that the IMF believes that China's economy could recover faster than expected if the government makes additional property and structural reforms to boost consumer confidence. 

Key Players Leading the Asian Economy

HDFC Bank Limited (NYSE:HDB), Tencent Holdings Limited (OTC:TCEHY), and Toyota Motor Corporation (NYSE:TM) are some of the players leading the Asian economy. To read more about Asian companies, you can look at 20 Most Valuable Asian Companies Heading into 2024.

HDFC Bank Limited (NYSE:HDB) is one of the largest financial services and banking companies headquartered in Mumbai, India. The bank has a multinational presence and provides financial services to its customers in India, Dubai, Bahrain, and Hong Kong. It operates through three major segments: retail banking, wholesale banking, and treasury services. On March 21, HDFC Bank Limited (NYSE:HDB) announced its partnership with The Toronto-Dominion Bank (TSE:TD) to simplify the banking services for Indian students based in Canada. As a result of this agreement, both banks have announced new referral programs for students planning to study in Canada. Aspiring Indian students will be referred to The Toronto-Dominion Bank's (TSE:TD) international student GIC program that helps students comply with the Canadian government's Student Direct Stream study permit. This agreement builds upon the long-running partnership between both banks since 2015, where The Toronto-Dominion Bank (TSE:TD) has acted as a corresponding banking partner of HDFC Bank Limited (NYSE:HDB).

Tencent Holdings Limited (OTC:TCEHY) is another multinational technology company based in Shenzhen, Guangdong, China. It is one of the world's leading internet and technology conglomerates that provides entertainment, communication, e-commerce, advertising, and online payment services. On March 5, Tencent Holdings Limited (OTC:TCEHY) announced its partnership with the Etihad Etisalat Company (TADAWUL:7020), revolutionizing the digital landscape of Saudi Arabia under the 'Go Saudi' program. Etihad Etisalat Company (TADAWUL:7020), also known as Mobily, is a leading digital technology and media company in Saudi Arabia. The collaboration will allow Mobily to diversify its enterprise business solutions and tap into new technologies using Tencent Holdings Limited (OTC:TCEHY) cloud services.

Toyota Motor Corporation (NYSE:TM) is a leading multinational automobile manufacturing company based in Japan. The company designs, manufactures, assembles, and sells automotive vehicles and has a market presence in North America, Europe, Asia, and the Middle East. On March 5, Toyota Motor Corporation (NYSE:TM) announced that it had agreed to acquire Primearth EV Energy Co., Ltd (PEVE) as a wholly owned subsidiary from Panasonic Holdings Corporation (TYO:6752). After the successful acquisition, Toyota Motor Corporation (NYSE:TM) will continue collaborating with PEVE, Toyota Industries Corporation, and Prime Planet Energy & Solutions to meet its automotive battery demand.

The Asian economy is set to contribute two-thirds to global growth in 2024, and below, you can find the 20 fastest growing economies in Asia in 2024.

20 Fastest Growing Economies in Asia in 2024

Source: Asia's Top Growing Economies, 2024 - Seasia.co

Filipino tycoons on Forbes' billionaires list

Villar, 15 other PH tycoons land on Forbes’ 2024 billionaires list

Story by Meg J. Adonis 

Inquirer.net

03 April 2024

MANILA, Philippines — Real estate mogul Manuel Villar, who chairs property developer Vista Land & Lifescapes, emerged as the only Filipino in Forbes Magazine’s top 200 billionaires in 2024.

He ranked 190th in this year’s list, up from 232nd in 2023, as his wealth grew 28 percent to $11 billion.

The Sy siblings in the banking, property and retail businesses of conglomerate SM Group have combined wealth of $14 billion but they were ranked individually in the list.

Hans Sy was at 1,286th with net worth of $2.6 billion; Henry Jr. and Herbert at 1,330th with $2.5 billion each; Harley at 1,380th, $2.4 billion; Teresita Sy-Coson, at 1,438th, $2.3 billion, and Elizabeth at 1,545th, $2.1 billion.

Following Villar is ports tycoon Enrique Razon Jr. who ranked 224th, with his net worth rising to $10 billion in 2024 from $7.3 billion.

Ramon Ang of food and beverage conglomerate San Miguel Corp. ranked 920th with $3.5 billion, up from $3.4 billion.

Others on the list are Lucio Tan ($2.5 billion), Andrew Tan ($2 billion), Tony Tan Caktiong ($1.4 billion), Lucio and Susan Co ($2.3 billion combined), Lance Gokongwei ($1.1 billion) and William Belo ($1 billion).

The combined wealth of the country’s richest tycoons totaled $48.2 billion as their businesses benefited from postpandemic recovery.

According to Forbes, there are now 2,781 billionaires across the globe, 141 more than last year as their fortunes swelled despite geopolitical unrest and “lingering inflation.”

Philippines export receipts breached record

PH exports of goods, services breached $100B in 2023

Story by Alden M. Monzon

Inquirer.net

02 April 2024

MANILA, Philippines — The country’s export earnings from trade of goods and services breached the $100-billion mark in 2023, reaching a record-high level as receipts grew for the third consecutive year although still short of government and industry expectations.

The Department of Trade and Industry (DTI) on Monday released preliminary data showing that exports of merchandise and services had reached $103.6 billion last year, 4.8 percent higher than the $98.83-billion receipts in 2022.

The country’s total export receipts totaled $87.97 billion in 2021, $80.03 billion in 2020, and $94.74 billion in 2019.

The growth was driven largely by the information technology and business process management (IT-BPM) and tourism sectors, according to the government agency.

The DTI also pointed out that merchandise goods faced challenges during the year, with electronics contracting by 3.4 percent or $955 million.

Other commodities that contributed to the decline in merchandise exports include coconut products, other agro-based items, other mineral products and petroleum products.

In contrast, the DTI said fruits and vegetable exports experienced an increase in demand.

BPO, tourism post robust growth

For services exports, the DTI said the country had emerged as a “powerhouse,” recording a 17.4-percent growth, which pulled up the year’s total export performance.

In particular, the DTI said travel services contributed nearly 70 percent of the incremental service export receipts in 2023, followed by other business services.

Growth was also seen in several sectors including telecommunications, computer and information services and transport services.

Despite reaching record high in 2023, export revenues were below the target set by the government and export industry groups under the updated Philippine Export Development Plan (PEDP).

Under the PEDP, the government and the private sector had set an export target of $126.8 billion for 2023, indicating that actual performance was around $23 billion short of the mark.

Looking ahead, the DTI said it is leveraging technology and digital services to enhance export capabilities, an initiative that includes the launch of a free e-curriculum for local exporters and the implementation of an origin management system to promote the use of free trade agreements.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations,” Trade Secretary Alfredo Pascual said in a statement.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” he added.

Completion of feasibility study for P1.2B Aurora ecozone bamboo farm eyed this year.

Fil-Am wins MVP award in Korea

Fil-Am Ethan Alvano is first non-Korean to win KBL MVP award

Story by John Mark Garcia
Spin.ph
02 April 2024

FILIPINO-American ace guard Ethan Alvano made history as the first Asian import and non-Korean player to win domestic MVP honors in the Korean Basketball League (KBL).

The 27-year-old California native made the most of his sophomore stint in the KBL, having played all 54 regular season games with standout averages of 15.9 points on 40.9 percent three-point shooting, 6.6 assists, 3.0 rebounds and 1.5 steals.

Through his commanding exploits on offense, DB Promy clinched the top seed entering the postseason with a 41-13 (win-loss) card alongside his American cohort and newly-minted KBL foreign MVP Dedric Lawson.

Apart from his top-flight stints with German club Eisbaren Bremerhaven and Thai club Hi-Tech Bangkok City, Alvano suited up for Alab Pilipinas in the ASEAN Basketball League (ABL) and picked up valuable minutes as a starter in the 2018-19 campaign under then-head coach Jimmy Alapag.

His Alab stint saw him drop 7.3 points, 6.1 assists and 4.2 rebounds before taking his talents to the KBL in 2022 — the fourth Filipino player to do so.

Alvano joins another top-caliber guard in RJ Abarrientos in the KBL's circle of award-wininng Filipino stars after the now-Japan-based playmaker won Rookie of the Year honors in his one-and-done Korea stint last season.