Sunday 14 April 2024

Local rock band struck deal with US record label

This Zamboanga rock band has inked a deal with a U.S. record label

Story by Bong Godinez
PEP.ph
14 April 2024

For all it's worth, the controversy surrounding Shaira Moro, known as the "Queen of Bangsamoro Pop," and her viral yet controversial song "Selos," has turned the spotlight on Mindanao's music scene. 


Outside Luzon, audiences have come across talented music artists from the Visayas, including Pilita Corrales, Dulce, Vina Morales, and Sheryn Regis. 

Rock bands from Cebu, such as Cueshé, Franco, and Urbandub, also made their mark on the music scene.

These artists represented not just themselves, but the music scene of their roots.

Mindanao boasts a few music artists who have left a mark in the mainstream, although they are relatively few and far between, to say the least.

ZAMBOANGA'S PRIDE

Meanwhile in Zamboanga, a band has caught the attention of American record producer and concert promoter Hadley Murrell. 

Rockin’ Like Thunder is a seven-piece band composed of Efren Calumpong (lead guitar), Anabel Perez, Honey Jimenez, Al Tarabi (vocals), Omar Tanjil (bass), Errol Calumpong (drums), and Richie Reyes (keyboard). 

Rockin’ Like Thunder is made up of (L-R): Richie Reyes, Errol Calumpong, Honey Jimenez, Romar Tanjil, Anabel Perez, Al Tarabi, Efren Calumpong. PHOTO: Rockin' Like Thunder 


Their musical influences vary, ranging from Queen, Guns N' Roses, Green Day, Metallica, Michael Jackson, and OPM groups like Parokya Ni Edgar and Eraserheads. 

Despite each member pursuing musical careers both locally and internationally, they have found time to collectively perform as a band for two years, garnering a dedicated following at their six weekly gigs in the city.

Nonetheless, they still find themselves reliant on day jobs, such as working in construction, motor shops, and sari-sari stores, to sustain themselves financially.

The band described the Zamboanga music scene as "rich in variety."

Omar told PEP.ph (Philippine Entertainment Portal), "We have Original Chavacano Music or OCM. There are many good, very talented musicians.

"There are solo acts and bands, many venues, although small, to listen to local artists.

"Local radio stations also play some of that music.

"If you remember Maldita’s 'Porque,' that’s one song that is homegrown from Zamboanga City that actually became a hit nationwide."

MAKING NOISE

In September 2022, while vacationing in Zamboanga, Hadley struck up a conversation about music with his designated driver tasked to show him around the city.

That driver was Efren, the guitar player for Rockin' Like Thunder, who invited Hadley to watch his band perform that night at a small roadside bar in Pasonanca Park. 

Impressed by the performance, Hadley and his companions returned the following night to watch the band again live. 

Hadley was impressed by the band's performance, particularly their medley of songs by the iconic British band, Queen.

The American producer and promoter knows real talent when he sees one. After all, this is the same guy who worked alongside music legends like The Jackson 5, James Brown, and Marvin Gaye.

The events unfolded past and Rockin' Like Thunder in December 2022 signed to Hadley's record label, HDM Records. 

In March 2023, the Stank Brothers production team, consisting of Hadley along with Dwight J. Emile and Tomy Ge, traveled from Los Angeles, U.S.A., to the Philippines to lead songwriting and performance training sessions with the band.

The band admitted feeling intimidated at first working with Hadley's team.

"The first time I spoke to him, I was nervous because I had to speak in straight English," recalled Omar, who described Hadley as "easy to work with" and "hardworking, professional, and perfectionist." 

Keyboard player Richie called it "a once-in-a-lifetime experience" and that they learned a lot from their insights. 

"We were intimidated knowing that they have worked with many big international artists, but this challenged us to do our best and hone our musical talent," mentioned Richie.

BIG HOPES, BIG DREAMS

Furthermore, they recorded several tracks with the assistance of Awit Award-winning sound engineer Nikki Cunanan.

Nikki said about their first recording session, "They came to the Wild Grass Studios and it was their first time to record.

"I was really impressed by what they did at the studio. The first song was taken live with drums, bass guitar, and keyboards. It was recorded as a take-one only. The vocals were really good, their voices are astounding!"

The band takes a break between recording sessions at Wild Grass Studios, with Dwight J. Emile (left), Nikki Cunanan, and Hadley Murrell (center). Photo courtesy of Nikki Cunanan. PHOTO: Nikki Cunanan. 

They met again at the studio in November 2023 to record more songs, and they finished the sessions "in a short amount of time" and with "astonishing results."

Omar reminisced, "Our second time at the studio, we were more relaxed.

"It all came more naturally because we knew what to do.

"We were still nervous, but less than we were before. We were already familiar with the studio, so our recording sessions were shorter. We were in the studio from 10:30 a.m. until around 5 p.m.

To date, the band has recorded a total of 10 songs, comprising a mix of covers and original compositions.

Their first single, "Rockin’ Like Thunder," is making the rounds in Zamboanga, and is accessible on YouTube, Spotify, and other online platforms.

"Hadley picked which songs we would cover. We just added our own touch to make the song even better and to make our mark," shared Omar.

Hadley, meanwhile, explained what made him convince the band to cover the classic country song "Tennessee Whiskey" by David Allan Coe.

"I have not heard a female version of it and I thought Anabel and Honey’s voices would be perfect!" said Hadley. 

"The arrangement that they had made in the beginning was very different. After I gave them some feedback, they came up with the arrangement that we used, and I was delighted with it."

Continued Hadley, "I consider them a great rock cover group and I have nothing like that in my company.

"I feel the mixture of originals and covers in the album will hopefully have some success."



Pinoys shine at Vietnam Filmfest

Filipino film bags top honor; Liza Soberano among jury at Vietnam filmfest

Kathleen A. Llemit 
Philstar.com
14 April 2024

MANILA, Philippines — Liza Soberano graced the red carpet of the 1st Ho Chi Minh City International Film Festival in Vietnam, where she also served as among the judges at the inaugural film fest. Apart from her, Sheron Dayoc's film "Gospel of the Beast" bagged the Golden Star Award or Best Film. 


The jetsetting Filipino-American actress stood out in her simple yet sleek black dress with her hair polished in a tight bun as she walked the red carpet yesterday. 

She was introduced as among the judges of the First or Second Film Category, which fetes the debut or second feature films of emerging directors and talents from all over the world. 

Liza's co-judges include the Oscar-winning editor of "Whiplash" Vietnamese-American Tom Cross, film producer John Badalu, film director Nguyen Thanh Van and New York Asian Film Festival Executive Director Samuel Jamier. 

The "Lisa Frankenstein" star was also the presenter of the Best Actress award. 

Meanwhile, former Film Development Council of the Philippines (FDCP) President Liza Diño congratulated Dayoc for his film's latest achievement on Instagram. 

"Saving the best for last….The Philippines FTW!!!! Congratulations Sheron Dayoc for winning the BEST FILM award in HIFF - Ho Chi Minh City International Film Festival. This gripping feature film Produced by Sonny Calventoand Arden Rod B. Condez of Southern Lantern Studios was supported by the FilmPhilippines International Coproduuction Fund during my time in FDCP as head of the agency," Diño wrote on Instagram. 

The Hollywood Reporter's Jordan Mintzer describes Dayoc's film as "realistic and determinedly fatalistic" view at Filipino gang life. It premiered at the 2023 Tokyo International Film Festival. 

The other films in Dayoc's category include "13 Bombs," "Blue Imagine," "Dreaming & Dying," "Fire on the Water," "Last Shadow at First Light," "Oasis of Now," "Solids by the Seashore," "Tenement," "The Cursed Land" and "Wonderland."

The jury for the Southeast Asia Film award include film critics and directors such as Hoang Cam Giang, Nguyen Vo Nghiem Minh, Le Thanh Son, Dao Ba Son, Wahyuni Hadi, Janice Chua, Pham Hong Anh, Bao Nguyen and Oliver Pere, who was the artistic director of Cannes' Directors' Fortnight from 2004 to 2009.


PH reelected to UN bodies

DFA: PH reelected to UN bodies on status of women, science and tech

Story by Adrian Parungao
Inquirer.net
14 April 2024

MANILA, Philippines — The Philippines was reelected to the United Nations Commission on the Status of Women (CSW) and the Commission on Science and Technology for Development (CSTD), the Department of Foreign Affairs (DFA) said.


According to the DFA on Friday, the elections were held on April 9 at the 12th plenary meeting of the United Nations (UN) Economic and Social Council in New York.

“The Philippines will continue its active engagement in the CSW and CSTD and contribute in the work programs and initiatives of these two important UN bodies,” Antonio Lagdameo, Philippine Ambassador and Permanent Representative to the UN, said.

The term of the Philippines in the CSW will be from 2025 to 2029, while its term in the CSTD will be from 2025 to 2028.

Meanwhile, the DFA said the reelection shows the trust of the international community in the Philippines and vowed the country will continue to contribute towards advancements in gender equality and science and technology.

“With its reelection to the two UN bodies, the Philippines continues to have the opportunity and global platforms to share its experiences and best practices on gender equality, women empowerment, and STI advancements,” the DFA said.

“The Philippines’ re-election to the two UN bodies indicates the trust and recognition of the international community to Philippine expertise and concrete contribution to the issues of gender equality, women empowerment and transformative role of STI in sustainable development,” it added.

$100 Billion Investments feasible for PH

Marcos: $100 billion investments into PH for next 5-10 years feasible

Story by Gabriel Pabico Lal
Inquirer.net
14 April 2024

WASHINGTON, D.C., United States — Estimates that $100 billion worth of investments will enter the Philippines in the next five to 10 years are attainable because these were discussed in the trilateral summit here, President Ferdinand Marcos Jr. said on Friday afternoon.


Marcos explained in a briefing with the Philippine media delegation here that the figures were not merely a promise but an actual target set during the trilateral meeting between the Philippines, the United States (US), and Japan.

“Well, they have already committed to these investments, and the fact that they actually have, we have together identified the areas and the sectors where that investment will go to, it shows that this is not a promise, or it is not just an idea,” the Chief Executive said.

“It is something that we intend to do because it has been put into the agreement. So, I am very confident that this will all materialize and we will feel this in the Philippines,” he added.

The $100 billion figure was given by Philippine Ambassador to the US Jose Manuel Romualdez in a press briefing on Wednesday, a day before the trilateral summit on Thursday.

According to Romualdez, the Philippines can achieve a huge percentage of this number just by getting a share in the US semiconductor industry, which is said to be worth $80 billion just in the Asean region.

Marcos said the ties between the three countries would be key in post-pandemic economic recovery, which he admits that the Philippines is still struggling with.

The wisdom of the trilateral summit, the President said, can be felt in the months and years to come.

“I’m sure you know by now I’m a great believer in coalitions and alliances. So, that is a major step for the Philippines, for the US, and for Japan. And we, I think in the years to come we’ll begin to see the wisdom of it. We’ll start to see, actually not even years, within the year we will start, to begin, to see the wisdom of having that trilateral agreement and why it is a good thing to enter into,” he said.

“So, that’s essentially what we have been doing and we reaffirmed our close relationship with the United States […] But mostly because we, it is, it’s really about development coming out of the pandemic. We’re still struggling to completely do that. So all of these things have come together, and I am very confident that the trilateral agreement will be, there will be [a] big benefit to the Philippines, but also of course, to Japan,” he added.

China investments?

During the same briefing, the President was asked whether these investment pledges and joint projects would have a detrimental effect on China’s investments in the country.

According to Marcos, he believes that it would not matter, as the two are not correlated.

“I don’t see how the two are connected. China will continue whatever investments it chose to make. This is separate from any proposed or potential Chinese investments in the Philippines. How do I see it, how will it affect? I don’t see that it will affect, one way or the other,” he explained.

The trilateral summit comes at a time when tensions over the South China Sea are high, with the Philippine government complaining about China’s aggressive and intrusive actions in the West Philippine Sea, particularly when the Philippine Coast Guard (PCG) assists resupply missions to Ayungin Shoal.

Filipino military troops are stationed in Ayungin Shoal, particularly manning BRP Sierra Madre, a Navy ship that was deliberately run aground there in 1999.

Ayungin Shoal, which sits around 315 kilometers from the tip of Palawan, is well within the 370-kilometer exclusive economic zone of the country.

However, China believes the Philippines is illegally occupying the shoal by having BRP Sierra Madre on it.  Roque said these aggressive actions may have been brought by the Marcos administration not adhering to a gentleman’s agreement.

China also claimed that a former Philippine president promised to remove BRP Sierra Madre from Ayungin, but President Marcos said he was not aware of such a deal.

Saturday 13 April 2024

DTI pitched PH as Google manufacturing hub

PH presented as manufacturing hub for Google

Story by Janine Alexis Miguel 
Manila Times
13 April 2024

THE Department of Trade and Industry (DTI) presented the Philippines as an alternative manufacturing location for Google tech products.

Trade Secretary Alfredo Pascual pitched the idea to the tech company during a meeting that took place on the sidelines of the United States-Japan-Philippines trilateral summit held in Washington, D.C.



"With a digital-savvy population exceeding 110 million, we offer a lucrative market for foreign investment. Our cultural affinity for global content and robust local enterprise sector also position us as a prime consumer of cloud services," Pascual said.

The country has already adopted 5G networks and has 19 international sub-sea cable systems, 13 cable landing stations and 840,000 kilometers of domestic fiber optic network.

It also supports 11 commercial data center providers operating 25 data centers with a total rack capacity of 19,000.

"The Philippines stands at the forefront of innovation and growth, welcoming diverse forms of collaboration across industry sectors. These include infrastructure development, workforce enhancement, manufacturing, cybersecurity and the responsible use of artificial intelligence (AI)," Pascual said.

The Philippine delegation also emphasized the government's commitment to support the establishment of hyperscaler and data center operations.

Among the efforts related to this initiative includes the implementation of policies to safeguard intellectual property rights and data protection.

Meanwhile, the DTI also thanked Google for expanding its workforce development program called Google Career Certificates (GCC).

As of April 5, the department reported that the program has attracted interest from 23,000 Filipinos, with a goal to reach 25,000 participants.

This initiative was announced during the US-Philippines Trade and Investment Meeting on March 11.

Google Philippines started operations in 2013. Currently, the company is partnering with the DTI to roll out more GCC programs across DTI virtual campuses.

The evolution of Barong Tagalog

The barong Tagalog is definitely for everyone

Manila Times
13 April 2024

It is a fashionable fact that the barong Tagalog is no longer just the stuff of formal, traditional events but a versatile attire that has evolved through the years. Thanks to Filipino creativity, it has become the outfit of choice for many different people — from office workers to the stylish set, and of course, from president to president, male or female.

The evolution comes as no surprise as the barong's lightweight fabric, sleek shape and comfortable cut make it the perfect go-to for tropical climates like the Philippines. Moreover, the endless possibilities for beautiful embroidery, appliques, and other embellishments highlight its fashion appeal, even for women, who have made it part of their Filipiniana, formal or even everyday wear.

STYLE SHOOTER Fashion model and photography influencer Mikyle Quizon plays it cool in a short-sleeved pink silk polo barong with pintucks.

BOLLYWOOD BABE Indian actor and singer Addy Raj shows the barong’s inclusive appeal wearing this men’s blue silk cocoon Barong with geometric embroidery.

VOLLEY BELLE Volleyball sensation Fifi Sharma shows her stylish side with this women’s mandarin collar barong with classic floral embroidery, which she dresses down with denim.

MULTI MAVEN Restaurateur and content creator Bambi del Rosario Young matches a men's black-and-white embroidered Barong with a black slip dress.

SENATE SENSATION With his work as Senate Chief of Staff and Chairman of disaster relief NGO Panday Bayanihan, Brian Poe Llamanzares represents a new generation of public service in Kultura’s heather black cocoon barong with bold white geometric embroidery.
        
HEARTY HOST TV and event host KC Montero wears a one-of-a-kind men's barong with embroidery inspired by warrior tattoo
   
HOT HITTER Volleyball star Rex Intal relaxes off-court in a short-sleeved pina-silk Barong featuring a “suksok” pattern with denim.

Combining elements from the pre-colonial native Filipinos and traditional Spanish colonial styles, the Barong was named the official national attire in 1975. What is considered the distinctive type of modern barong — with its tapering cut, cuffs, and flared sleeves — was created by fashion designer Jean Paul Gaultier of Pierre Cardin Manille in the '70s.

Since then, there have been short-sleeved polo barongs, preferred by office workers, made with linen, ramie or cotton, as well as shirt jack barongs popularized by politicians.

Kultura, the purveyor of Filipinana wear for the modern era, notes that the finest barong Tagalog are made from a variety of indigenous sheer fabrics — piña from pineapple fiber, pina seda interweaving pina with silk, and jusi handwoven from abaca fibers. Pinukpok from the Bicol Region is made from loosely woven abaca fibers; jusilyn is mechanically woven from silk, cotton, or polyester; and organza is made from silk or polyester.

As it celebrates and shares with The Manila Times Lifestyle its new campaign titled "Barong is for Everyone," Kultura embraces the attire's ability to unite those from diverse backgrounds with the different ways it can be worn today via this special editorial shoot.

Classic or modern, paired with slacks for formal occasions or jeans for a street-style take, the timeless and versatile barong remains a symbol of cultural pride. Take inspiration from these individuals who have made the barong their own regardless of age, gender identity, nationality, and beyond.

Friday 12 April 2024

Chavit ventures into Korean entertainment

Chavit Singson to co-produce Lee Seung-gi's 'Vagabond' 2

Story by Iza Iglesias 
Manila Times
12 April 2024

Filipino businessman and politician Luis 'Chavit' Singson has announced his venture into Korean entertainment as he is set to co-produce the highly-anticipated second season of the Korean series "Vagabond."

Starring Lee Seung-gi, Bae Suzy and Shin Sung-rok, the first season aired in 2019 on TV network SBS TV before its release on Netflix. It is about a stuntman (Lee) who got involved in a tragic airplane crash and discovered a national corruption scandal.


Singson revealed his involvement in the project in an interview at the opening of the seventh branch of bb.q Chicken in Ayala Feliz, a Korean fried chicken restaurant he introduced to the country.

"We have many companies in Korea, we have partners, friends. Lee Seung-gi, he is one of our endorsers here in bb.q and he is the lead there," Singson shared.

It was in March 2023 when the Korean star last visited the Philippines and stopped by in Vigan, Ilocos Sur. Among his destinations were Singson's Baluarte Zoo, Calle Crisologo and Vigan Heritage Site.

According to the former Ilocos Sur governor, the second episode of "Vagabond" will be shot in the Philippines.

Sharing about the production timeline, Singson said, "Maybe this May. They're just finishing the whole story because they want it complete. They'll finish the story so that shooting will be seamless. They don't like thinking about what to do tomorrow. They want it continuous. I think they've been working on the story for about a month now."

Apart from Ilocos Sur, the series will also be filmed in other tourist destinations in the Philippines.

"Just one episode first. We will begin in Ilocos, then I plan to showcase all the beautiful places like what I did during Miss Universe to promote the beautiful destinations in the Philippines, our usual tourist attractions here," he said.

He added that part of the collaboration is the inclusion of Filipino artists in the series, although names of the talents are yet to be revealed.

Meanwhile, beyond the series, Singson shared he also made partnerships with Korean manufacturers for the production of electric vehicles to help the modernization program of the government when it comes to jeepneys and tricycles.

"Korea will produce electric vehicles for the modernization program, like jeepneys. I was able to convince 21 factories in Korea to join me because I can't do it alone since it involves millions. Millions of tricycles, electric vehicles, jeepneys so I need assistance. Thank God, the 21 manufacturers in Korea agreed," he shared.

While the public utility vehicle (PUV) modernization program requires loans to purchase the vehicles, Singson said he will no longer be necessary.

"I told them we won't ask for a down payment, no guarantee, we won't ask for a percentage because if I'll ask for a percentage, it's no longer assistance," he finally said.

Massive investments coming to the Philippines

Huge US, Japan investments coming

Story by Alexis Romero
Philstar.com
12 April 2024

At least $100 billion in 5-10 years, says envoy

WASHINGTON – At least $100 billion in investments from the US and Japan may come to the Philippines in five to 10 years as a result of the historic trilateral summit here that aims to deepen the three countries’ economic and defense ties, an envoy said yesterday.

Philippine Ambassador to the US Jose Manuel Romualdez said among the sectors that may benefit from the investments are the semiconductor industry, which is part of the Philippines’ digital infrastructure, and energy.



“I’m afraid I don’t have the exact figure, but I can tell you that the figures I have been hearing… this may sound a little bit expanded in a way, but we’re talking about a hundred billion in investments in the next five to 10 years,”  Romualdez said in a press briefing at the Philippine embassy here.

“Perhaps, even five years will probably be more appropriate because of the fact that we have a lot of areas where we are putting ourselves, our economic managers are putting our country into a situation where we’re opening up our economy especially in energy, which is very important for us, and also, of course, digital infrastructure, and physical infrastructure,” he added.

Romualdez said the figure is a conservative estimate, noting that the semiconductor industry is an $80 billion business in Southeast Asia. If the Philippines gets 10 or 20 percent of the pie, it would reap $8 billion to $16 billion worth of investments, he added.

“We are one of the seven countries that have been chosen by the United States as a place where we are a trusted ally,” Romualdez said.

“As you know, the semiconductor industry is going to be the wave of the future in terms of the technology that is going to be required for anything – for cars, for defense equipment and so forth, and so on. That is an indication of how much (investment can potentially come) to the Philippines,” he said.

Romualdez said the Philippines also has investments in the manufacturing sector and is finding ways to meet its energy needs. He added that energy exploration, which involves the West Philippine Sea, is “part and parcel” of what the government is looking at to bump up the country’s energy requirement, which is increasing every year.

“I think that in the next two years, our energy requirement for the country is going to be very high and so, I think, we’re trying to fast-track that as much as we can,” the envoy said.

“The more exciting part of the clean energy projects that we’re trying to lure into the country is the small modular nuclear power plants,” he added.

According to Romualdez, President Marcos is “quite excited” about a company that would supply small nuclear power plants, a source that he described as “perfect” for the country’s islands. He revealed that Marcos would meet with representatives from Ultra Safe, which he labeled as “one of the biggest contenders” into supplying the Philippines with a small modular nuclear power plant.

“It (small nuclear power plant) is much safer, it’s cleaner and at the same time it is very new technology,” the ambassador said.

In a separate press briefing, White House National Security Communications advisor John Kirby said US President Joe Biden, President Marcos and Japanese Prime Minister Fumio Kishida would announce new initiatives to accelerate and increase high quality infrastructure investment in the Philippines, enhance energy security, deepen maritime cooperation and strengthen partnerships on technology, and on cybersecurity.

“Our three countries embark on this new area of trilateral cooperation as trusted equal partners guided by shared values in an unwavering commitment to a free, open, peaceful and prosperous Indo-Pacific,” Kirby told reporters here.

The first trilateral summit of the leaders of the Philippines, Japan and the US is widely seen as an effort to counter China’s growing aggressiveness in the South China Sea, but officials claim the event is not directed at any country..

Trade agreements eyed

Aside from cooperation on investments, the Philippines is also hoping for a trilateral trade agreement with the US and Japan.

“Well, we’re hoping that that might happen,” Romualdez said when asked about the possibility of a trilateral trade deal among the three countries.

“Our trade department, headed by Secretary (Alfredo) Pascual, has been really looking into having a free trade agreement not only with the United States, but perhaps even with Japan. So, we’re looking at that seriously and we have been working together with our trade attaché here in pushing for specific free trade agreements.”

Romualdez said the US is more inclined to go into specific sectors for free trade agreement, but the Indo-Pacific Economic Framework (IPEF) initiated by Washington, of which the Philippines is a founding member, is eyeing the inclusion of the entire Association of Southeast Asian Nations. He added that the Philippines and the US could work together on areas like digital technology and cyberspace.

ADB expects PH to grow in 2024

ADB sees Philippine economy growing by 6% in 2024

Story by TED CORDERO
GMA Integrated News
12 April 2024

The Asian Development Bank (ADB) expects the Philippine economy to grow faster this year in light of slowing inflation and improved domestic demand.

Citing the Manila-based multilateral lender’s flagship publication, Asian Development Outlook (ADO), ADB Philippines country director Pavit Ramachandran said the bank projects the Philippines’ gross domestic product (GDP) to expand by 6% in 2024, faster than the 5.6% growth rate seen in 2023.



The ADB’s forecast falls within the lower end of the Marcos administration’s GDP target range of 6% to 7% for the year.

For 2025, the economic growth rate will pick up further to 6.2%, also falling within the government’s 6.5% to 7.5% target for next year, Ramachandran said. 

In the April edition of the ADO, the bank cited moderating inflation and the consequent monetary easing that would bode well for investments and consumption to pick up as factors for growth this year and next.

The ADB projects inflation to ease to 3.8% in 2024 and 3.4% in 2025, which are within the government’s 2% to 4% target range. The average inflation rate in 2023 stood at 6%.

Decelerating global oil prices and an extension in reduced tariffs on major food items, including rice, corn, and pork, until December 2024 will help contain food inflation, according to the ADO.

However, compared to the December edition of the ADO, the ADB’s 2024 growth outlook was lower than its previous forecast of a 6.2% GDP growth rate. 

“We slightly moderated the forecast [in 2023] when we projected 6.2% for this year,” Ramachandran said.

The ADB’s Philippine head said severe weather conditions such as El Niño and the possible La Niña could contribute to upside inflationary risks.

Likewise, the slowdown in major advanced economies, heightened geopolitical tensions, and higher-than-expected global commodity prices could also weigh on growth, according to the ADO.

Nevertheless, Ramachandran said, “We still see the Philippines as one of the frontrunners in the growth leaderboard in the region, anchored on strong macroeconomic and fiscal policy effectiveness.”

”We believe that the enabling environment is there with the structural reforms [such as] opening a number of strategic sectors to foreign ownership,” he said.

Ramachandran said the Philippines should focus on improving the ease of doing business to attract more investments, as it lags behind its peers in the region in terms of foreign direct investments. 

The ADO said that promoting higher levels of private sector participation in the economy will be vital to further raising growth and productivity.

The report also said that an enhanced public-private partnership (PPP) regulatory framework with the signing last month of the PPP Code of the Philippines Act Implementing Rules and Regulations will help further mobilize private investment for infrastructure development, including green and resilient energy and telecommunications.

Also supporting the Philippines’ growth for 2023 was the low unemployment rate, which would support household spending as “strong retail trade, higher tourist arrivals and receipts, and an expansion in business services will sustain growth in the services sector, which account for over half of gross domestic product and employment.”

The government’s infrastructure initiative would also boost growth as it would attract private sector investments from both local and foreign players.

“The Philippines’ growth momentum is picking up speed, driven by the government’s efforts to improve budget execution, mobilize additional revenue, and pursue reforms to boost the investment climate.

Investments in large public infrastructure projects, as well as much-needed social services, will boost government expenditures and bode well for the economy in the long run,” Ramachandran said.

Under the Marcos administration’s “Build Better More” program, 67 flagship projects are currently underway, with 30 more projects approved as of March 2024.

The program includes bridges, expressways, ports, and railways, among others. 

Some of the projects are funded by ADB, such as the Malolos Clark Railway Project and the South Commuter Railway Project, which will link Metro Manila to northern and southern provinces in Luzon. — VBL, GMA Integrated News

Thursday 11 April 2024

DoubleDragon: Philippines' first Nasdaq listed company

Injap Sia's Hotel101 Will Be First Philippine Company on US Nasdaq After $2.3 Billion Merger Deal

Story by Christa I. De La Cruz 
Esquire Philippines
11 April 2024

Hotel101, the business and leisure hotel chain with its flagship property in Pasay, is all set to go public on the Nasdaq in New York City. This comes after the announcement of Philippine-listed real estate development company DoubleDragon Corporation that its Singapore-headquartered subsidiary Hotel101 Global Pte. Ltd. and JVSPAC Acquisition Corporation (NYSE: JVSA) have entered into a binding definitive merger agreement.


Once completed, Hotel101—with ticker symbol HBNB—will have an equity value of $2.3 billion (P130 Billion). The merger is expected to close in the second half of 2024, subject to regulatory and shareholder approvals and other customary closing conditions.

Albert Wong, Chairman of JVSPAC, with DoubleDragon/Hotel101 Chairman Edgar Injap Sia II, CEO Hannah Yulo Luccini, and Co-Chairman Tony Tan Caktiong

DoubleDragon Group is led by Edgar "Injap" Sia II (founder of Mang Inasal) and Tony Tan Caktiong (founder of Jollibee). Tan Caktiong was recently listed in the Forbes' billionaire list with a net worth of $1.4 billion. With the listing made via a special purpose acquisition company (SPAC), Double Dragon positions Hotel101 Global as the first Filipino company in the US Nasdaq Stock Exchange.

Outside the Philippines, Hotel101 properties are currently under construction in Madrid, Spain; Hokkaido, Japan; and Los Angeles, California. The company said in a statement that it had identified 25 priority countries for expansion: the Philippines, Japan, Spain, the U.S., United Kingdom, the U.A.E., India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and Saudi Arabia.

JVSPAC Acquisition Corporation is a blank check company incorporated for the purpose of executing a business merger. It is led by Chairman and CEO Albert Wong, who is also the CEO and Director of Kingsway Group Holding. Kingsway is in the automotive industry, particularly the sole distributor of Lamborghini in Hong Kong, Macau, and Guangzhou; as well as Koenigsegg Automotive, Rimac Automobili, and Bugatti Automobiles for China.

Pinoy won at the World Press Photo Contest

Meet Michael Varcas, the Filipino photographer who won big at the 2024 World Press Photo Contest

Story by John Patrick Magno Ranara
PhilStar Life
11 April 2024

A Filipino photographer, whose picture depicts the struggles of local fishermen amid the rising tensions in the West Philippine Sea, was recently awarded at this year's World Press Photo Contest.

Michael Varcas, who serves as a photographer for the daily newspaper The Philippine STAR, made his country proud when he became one the regional winners at the competition organized by the World Press Photo Foundation, where the best of the best in photojournalism around the globe are recognized.



Varcas was chosen by an independent jury under the Southeast Asia and Oceania stories category for his entry dubbed "Battle for Sovereignty," which contains 10 single-frame photographs that he took back in September 2023.

In them, the local lensman captured multiple scenes of conflict between Filipino fishermen and the Chinese Coast Guard in the middle of Panatag (Scarborough) Shoal, off Zambales, brought about by the territorial dispute between the two countries over the West Philippine Sea.

The jury highlighted how he was dedicated in telling this story and getting the images people need to see despite the challenges.

"The photographer's commitment to the story is evident in their ability to overcome the significant barriers faced by regional journalists to access these scenes from non-military vessels," the jury said.


Speaking to PhilSTAR L!fe about his win, Varcas said that it was a highlight of his 15-year career as a photographer who captures day-to-day news stories across the nation.

"I think it's the icing on my photojournalism career, it’s something that's nice to have at least before retiring," Varcas said.

At first, Varcas never considered submitting the photos at this year's World Press Photo Contest, but he changed his mind to shed some light on the hardships experienced by the fishermen when it comes to their livelihood.


I just thought that the news from television for the past months was pretty successive, so I thought that there should be images that will showcase the situation and struggles of our fellow Filipinos in the area," he explained.

"You can't just replay TV and radio reports every time as it requires much time as opposed to photos," he added.

Varcas sought the help of his colleagues in choosing the right photos that would do the Filipino fishermen justice in telling their stories and experiences.

Getting the big picture

With the Philippines taking a stronger stance against China over the West Philippine Sea, tensions rose. Varcas was then assigned to document the unfolding situation.

"During its successive news report on TV and radio, I really wanted to have a comprehensive representation through photos," the photojournalist said.


Recounting the challenges he encountered while taking the photos, Varcas shared, "During our arrival at the vicinity of Bajo De Masinloc in the early morning, we were radio challenged and we evaded dangerous maneuvers of the Chinese coast guards."

He continued, "Taking photos of the barriers up close was also a challenge for we had to disguise as fishermen onboard their tiny boats because anyone that comes near to the Scarborough shoal will have to risk getting chased by the Chinese coast guards."


The coverage made Varcas realize the importance of immersing one's self in subjects that matter.

"Doing it for our fellow countrymen, especially at the frontline of the dispute, you need to squeeze as much as you can for that very limited window. These are our evidence, we need allies, but also need hard evidence on the matter," Varcas underscored.

The man behind the lens

Varcas started his career as a news photographer back in 2009. His interest in the craft of immortalizing scenes through his camera started during his college days as a journalism student.

"I started as a college newspaper photographer and felt amused with the reactions of the viewers of my photos. There was no social media back then, so when I see reactions from schoolmates upon the release of new issues, I hear feedback from them that is mostly positive," he recalled.

Instead of being a traditional journalist who uses words and paper, he decided to pursue the camera as his means of telling a story as well as his livelihood.


"I love adventure, I can’t imagine working inside a room for a whole day," he said.

"I'm able to cover a variety of coverages. I'm shooting simple human interest photos today then the following morning, I’ll be up in the air on a chopper covering a disaster," he continued.

While some might think that photography is as quick to learn as a click of a camera, Varcas shared that it actually took him three years to gain the award-winning skills he has today, which he learned under the strict guidance of his former boss.

For his style, he noted that he tries his best to capture pictures that would be "understood easily no matter what the status of the viewer, [whether they're] rich or poor."

For the most part, the thing that inspires Varcas to take photos of the most are situations that need change for the better.

"May it be a calamity, the recent pandemic, or climate change. When something can be done with the help of photography," he said.

For those who want to follow in his footsteps and shine the spotlight on important issues in the world through pictures, Varcas has one simple advice that must be taken to heart: "Stay hungry."

Interview by Yoniel Acebuche

Philippines 2nd most competitive in Asia

5 Most Competitive Countries in Asia

Talha Qureshi
Insider Monkey
11 April 2024

In this article, we will look at the 5 most competitive countries in Asia. If you want to read our detailed analysis, you can go directly to the 20 Most Competitive Countries in Asia.

5. Malaysia

GDP Growth Rate (2024): 4.3%

GDP Per Capita Growth Rate (2024): 6.75%

Competitiveness Score: 75.75


Malaysia makes it to the top 5 most competitive countries in Asia. The country’s GDP is growing at 4.3%, whereas it has a GDP per capita growth rate of 6.75%. Malaysia also performs well on the world competitiveness ranking, scoring 75.75 out of 100. 

4. Mongolia

GDP Growth Rate (2024): 4.5%

GDP Per Capita Growth Rate (2024): 2.65%

Competitiveness Score: 35.56


Mongolia is an East Asian nation that ranks 4th on our list of most competitive countries in Asia. It has a GDP growth rate of 4.5% and a GDP per capita growth rate of 2.65%.

3. Indonesia

GDP Growth Rate (2024): 5%

GDP Per Capita Growth Rate (2024): 7.83%

Competitiveness Score: 70.75


Third on our list is Indonesia, a Southeast Asian country. The country has a GDP growth rate of 5% and a GDP per capita growth rate of 7.83%. 

2. Philippines

GDP Growth Rate (2024): 5.9%

GDP Per Capita Growth Rate (2024): 8.03%

Competitiveness Score: 54.14


The Philippines ranks as the 2nd most competitive country in Asia. The country’s GDP is growing at 5.9%, whereas it has a GDP per capita growth rate of 8.03%.

1. India

GDP Growth Rate (2024): 6.3%

GDP Per Capita Growth Rate (2024): 9.00%

Competitiveness Score: 64.63


India tops our list of the 20 most competitive countries in Asia. It is a South Asian country with a GDP growth rate of 6.3% and a GDP per capita growth rate of 9.0%. 

United States will support the development of the Luzon corridor

US to launch Luzon corridor development

Louella Desiderio 
The Philippine Star 
April 11, 2024 

First project under Indo-Pacific Economic Framework

MANILA, Philippines — The United States will support the development of the Luzon corridor in the Philippines as the first project under an initiative that seeks to help accelerate investments in priority sectors in partner countries in the Indo-Pacific region.

Helaina Matza, acting special coordinator for the Partnership for Global Infrastructure and Investment of the US Department of State told The STAR yesterday the development of the Luzon corridor, as the first PGI-IPEF (Indo-Pacific Economic Framework) Accelerator project in the Indo-Pacific region, will be announced during the trilateral meeting among the US, Philippines and Japan this week in Washington.


“At the Trilateral Summit, we will be launching the first PGI-IPEF Accelerator project in the Indo-Pacific region, and this is our commitment to work together among the three countries in helping develop the Luzon Corridor,” she said.

The PGI-IPEF Investment Accelerator aims to scale up high-standard project financing to drive sustainable economic growth by increasing project-specific financing, upstream project development and improved enabling environments for investment in priority sectors defined in cooperation with each beneficiary country.

US Ambassador for Asia-Pacific Economic Cooperation Matt Murray said the Trilateral Summit is the perfect platform to highlight the Luzon economic corridor as the latest major expansion of the push to enhance US economic engagement with the Philippines.

“Under the PGI-IPEF Investment Accelerator, we plan to bring the whole suite of US government tools to advance the medium-term action plans to identify and address barriers to investments in key sectors and near-term infrastructure project work like the Luzon corridor that uses PGI’s model of creating a corridor of investments with those with public and private capital,” he said.

Matza said the US would work with partners in Japan and in the Philippines to support connectivity from Subic Bay to New Clark City or Clark City as a whole, to Manila and Batangas.

She said the vision involves looking at opportunities in port modernization and expansion, railways as well as clean energy.

As the US is looking to help improve efficiencies in existing infrastructure in the Luzon corridor, she said it is also looking to help ancillary industries grow.

Matza said there is an opportunity in the Philippines to bring down the percentage of food waste in North Luzon, which is at about 40 percent, when issues in transport are addressed.

“That would involve us working, of course, with the private sector on opportunities to help support cold storage facilities, but really improving the ability to transit not just on the main highway, but hopefully over time through freight rail,” Martza said.

Murray said strengthening US-Philippine relations is important for the Biden-Harris administration, with the effort going far beyond defense and security by expanding economic ties.

“As partners in prosperity, delivering tangible economic benefits to the Philippines of the trade and investment relationship with the US is critically important, and the administration is very focused on this goal,” he said.

As part of efforts to expand economic ties, he said the US and the Philippines would co-host next month the 6th Indo-Pacific Business Forum, the US government’s premier business event in the region.

He said the event would feature over 500 officials and business executives in Manila.

Through the CHIPS Act, the US is working with the Organization for Economic Cooperation and Development to conduct a comprehensive assessment of the Philippine semiconductor ecosystem and with Arizona State University to bolster Philippine workforce capacity.

During the visit of US Secretary of Commerce Gina Raimondo to the Philippines last month, she said the US is looking to help the Philippines double the number of its semiconductor facilities.

Raimondo was accompanied by 22 US firms that are investing over $1 billion for projects in various sectors in the Philippines.

UP makes it to 2024 QS World University Rankings

UP makes it to 2024 QS World University Rankings in 3 subjects

Story by Adrian Parungao
Inquirer.net
11 April 2024

MANILA, Philippines — The University of the Philippines (UP) ranked among the top universities in the world in the 2024 edition of the Quacquarelli-Symonds (QS) World University Rankings by Subject.


In the results published on April 10, three Philippine universities placed in one out of four subject disciplines of the QS, while only UP ranked in 2 other subjects.

For the Arts and Humanities subject, Ateneo de Manila University was the best university in the Philippines with a 325 rank and a score of 65.6, followed by UP at rank 351 and a 64.8 score, and De La Salle University at rank 401-450.

UP was the sole Philippine university that ranked in the Engineering and Technology subject as well as the Life Sciences and Medicine subject, placing 501-550 for both subjects.

Meanwhile, no Philippine universities made it to the Natural Sciences subject ranking.

The following are the best universities in the world per subject as ranked by the QS:

Arts and Humanities

  1. Harvard University
  2. University of Cambridge
  3. University of Oxford
  4. Stanford University
  5. University of California, Berkeley
  6. Yale University
  7. Massachusetts Institute of Technology
  8. New York University
  9. University of California, Los Angeles
  10. UCL, University of Toronto

Engineering and Technology

  1. Massachusetts Institute of Technology
  2. Stanford University
  3. University of Oxford
  4. University of Cambridge
  5. University of California, Berkeley
  6. ETH Zurich
  7. Imperial College, London
  8. Harvard University
  9. California Institute of Technology
  10. École polytechnique fédérale de Lausanne

Life Sciences and Medicine

  1. Harvard University
  2. University of Oxford
  3. John Hopkins University
  4. Stanford University
  5. Massachusetts Institute of Technology
  6. University of Cambridge
  7. Imperial College, London
  8. University of California, San Francisco
  9. UCL
  10. Karolinska Institutet

Natural Sciences

  1. Harvard University
  2. Massachusetts Institute of Technology
  3. University of Oxford
  4. University of Cambridge
  5. Stanford University
  6. California Institute of Technology
  7. University of California, Berkeley
  8. ETH Zurich
  9. Imperial College, London
  10. Princeton University

PH FDI on surge

FDI surges 90% to $907 M in January

By Lee C. Chipongian
Manila Bulletin
Apr 10, 2024 

The country’s net foreign direct investment (FDI) inflows increased by 89.9 percent to $907 million in January from $478 million in the same month in 2023 mostly from investors based in Japan, according to the Bangko Sentral ng Pilipinas (BSP).

FDI_Visuals.jpg

Registered with the BSP, FDIs are actual investments in the form of equity capital, reinvestment of earnings, and borrowings.

FDI includes investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent; and investment made by a non-resident subsidiary or associate in its resident direct investor. 

The BSP on Wednesday, April 10, said the increase in FDI was boosted by the 173.2 percent growth in non-residents’ net investments in debt instruments to $820 million from $300 million in January last year. As defined by the central bank, net investments in debt instruments are mainly intercompany borrowing and lending between foreign direct investors and their subsidiaries and affiliates in the Philippines.

Meanwhile, reinvestment of earnings went up by 16.4 percent to $99 million versus $85 million in the same period in 2023.

Also in January, non-residents’ net investments in equity capital other than reinvestment of earnings dropped 112 percent to a net outflow of $11 million from $93 million net inflows in the same period las year.

The BSP added that during the period, equity capital placements came from investors based in Japan and the US.

Japan accounted for 69 percent of the total FDI in January while the US contributed 19 percent. Investments were then channeled to these sectors: manufacturing; real estate; construction; and wholesale and retail trade industries.

The BSP forecasts a 2024 and 2025 net FDI of $9 billion for each year.

Last year, net FDIs amounted to $8.9 billion, lower than $9.4 billion in 2022.

The BSP said FDI statistics are distinct from the investment data of other government sources since the central bank’s report covers actual investment inflows. “By contrast, the approved foreign investments data that are published by the Philippine Statistics Authority (PSA), which are sourced from Investment Promotion Agencies (IPAs), represent investment commitments, which may not necessarily be realized fully, in a given period,” said the BSP.