Some Good News...

[mazdamazda]

I would not rather comment more on this for this is not the proper forum. nwei, my point is just like this, how can you explain that to people when they dont feel the difference between a 2 digit export to a low export.for sure the business world will enjoy that scenario.Thanks for the input.

In simple terms... good business environment = more employment = more revenues = new investments = etc.

You aren't suppose to "feel" the difference between low & double digit export growth. That's why we have statistics & numbers to quantify these things. People always complain that they are poor and so on while clutching to the newest Nokia mobile phone that they just bought. :bwahaha:

BTTT

In a recent survey of Reader's Digest, St. Luke's was considered the best hospital in the South East Asia region - besting other hospitals from Singapore, Thailand, etc.

[CVT]

And arguably,- we need to have lower rate of population growth...

2701:bye:

[mazdamazda]

We also recorded an 8.8% increase of foreign tourists for the 1Q of 2007 (as compared to last year).

:2thumbsup:

[Camgen6]

The Philippine Peso is at its strongest since early 2001, sorry kung may nag post na nito, di ko na kasi binasa lahat ng reply, nagagalit na si Mrs. too much spending time sa tsikot daw, hehehe.

[maverickjazzy]

I would not rather comment more on this for this is not the proper forum. nwei, my point is just like this, how can you explain that to people when they dont feel the difference between a 2 digit export to a low export.for sure the business world will enjoy that scenario.Thanks for the input.

no offense to you brod and i understand what you're saying but as mazdamazda said you are not supposed to feel a difference between a single digit and a double digit growth in exports nor it would have a great impact on your personal finances or it would have a sizable effect on the prices of commodities, these are governed by the law of supply and demand. i would not elaborate much because economics is a pretty boring subject.

what we're saying is that basically a strong exports would result to more income for companies. and more income for companies means more money to invest and for capital expenditures. which means more investments (either re-investments or new investments) would result to more jobs. if you are currently employed you would not feel much effect, but for those people who are unemployed and were suddenly hired by these companies due to expansion or new investments, it would be a great thing for them!

[jonski]

Kakalungkot kasi hindi mo ito mapapanood sa TV kasi mas gusto ng media negative news. kawawa naman.

[greenlyt]

Kakalungkot kasi hindi mo ito mapapanood sa TV kasi mas gusto ng media negative news. kawawa naman.

exactly coz it wont sell.... ang mabenta kasi are violence, dirty politics.. would you believe break-ups
i always check this thread kasi i find reasons to stay here ..... believe that Philippines still has a chance

[VtEC]

We also recorded an 8.8% increase of foreign tourists for the 1Q of 2007 (as compared to last year).

:2thumbsup:

That's the good news i longed to hear bro..

[mazdamazda]

The Philippines has a BOP surplus of around $1.7 billion despite the prepayments of loans by the BSP. To note, foreign debt is slightly down by about 1.5%.

:2thumbsup:

[lightning099]

Extracted from Pattaya Today...
http://www.pattayatoday.net/index.ph...e=news&id=2306

Thailand v Philippines
14. May 2007, 22:08
by Peter Lloyd

I am sitting in Liverpool in the UK writing this, having been travelling almost non-stop for the whole of April and all of May so far. I am almost over the shock of having bought the world’s most expensive kebab in a wealthy area of London at a posh kebab shop (which sounds like an oxymoron to me). The price – EIGHT HUNDRED AND FIFTY BAHT (12.50 GBP!)

Since my last column I have been to the Philippines, France, Italy, Dubai, the island of Zanzibar, off the coast of East Africa, where I was able to swim with (and photograph – see pic) a pod of wild dolphins, which was a superb experience, and I’m finally now back in the UK. I was impressed by my time in the Philippines, which, after the recent travails of Thailand actually appears to be an increasingly attractive alternative destination in which to live and invest, if you select your destination carefully. No sooner had I decided to write about it, than a big article appeared in the Wall Street Journal echoing my own increasingly favourable impressions of the Philippines from this trip. It gave the recent example of Texas Instruments building a second, 1 billion US$ assembly plant there, in preference to China which has seen land prices, rents and salaries soar on the east coast, and because they don’t want to put all their eggs in the China basket.

They were also swayed by the prevalence of a highly educated and fluent English-speaking population, which is why Vietnam didn’t get it. The same considerations are moving Intel towards locating a 2.5 billion US$ plant in the Philippines, where new tax legislation and greater investment brought about by a stabilizing political and economic landscape have breathed new life into the wider economy and boosted annual GDP figures which in turn attract even more investment though favourable publicity. I don’t think Thailand was ever in the running, but it goes to show what factors influence business decisions in the region. I spent a few days in Subic Bay, scuba diving on World War 2 shipwrecks, and I had a great time there. I also looked at the strong, well-run local economy and liked what I saw. Subic used to be a big US navy base, and is now a Freeport and a preferential economic zone which is attracting increasing business, and is expanding fast, with ongoing land reclamation projects and companies queuing up to build factories there.

At first I was bemused about Thailand’s recent decision to pay a massive amount of money to a PR firm in the USA, to counter Thailand’s recent, bad international publicity. The move once again suggested a petulant desire to catch up with Thaksin, who had previously and successfully instructed a PR firm of his own, which he has just sacked. But I now think Thailand needs to do everything it can to improve its international image, and fast. Whilst I was in Africa and the Philippines, and also now I am back in the UK, I have spoken to many people about Thailand, and everyone who asks me about Thailand usually starts with a negative comment about its visa tightening (see later) or about the increasingly poor business outlook for the country, or the military government, or the well-publicised disastrous recent capital controls and tightening up of the foreign ownership of businesses. It’s always a negative observation, never something positive. But not only is it individuals who hold these views. I have read numerous reports recently of multinationals shifting large investments away from Thailand, wary of inept economic mismanagement and military rule, the ongoing political turmoil, and amid concerns over when the next election will be held, and of falling tourist numbers, particularly from Asian (mostly Japanese and Korean) tourists, worried about personal security. All statistics detailing last year’s final quarter and this year’s first quarter foreign direct investment figures show dramatically weakened investment. Many companies are now looking to Asian neighbours – Malaysia and Vietnam in particular, but increasingly the Philippines, as alternative investment destinations. Unfortunately you don’t need to be a psychic to see the possibility of more pain still to come in the Thai economy as interest rates rise and the real estate market takes a further beating both domestically and from international investors and retirees. But out of real estate doom and gloom usually come buying opportunities, and I think towards the end of the year we will see some very interesting investment opportunities as developers and sellers cut prices to shift stock. Already the incentives offered by developers to real estate agents and to buyers are growing in attractiveness, and maybe this will ironically become the jump start the country needs – a plentiful, cheap supply of quality real estate just waiting to be bought at rock bottom prices.

[greenlyt]

just remember, sometime last month while minding our stall in SM Makati, me and my wife was able to talk to an Austrian Woman, she told us how beautiful our country is, our people are one of the most friendliest in the world and that she realized that what she have read about our country is not true, she also added that when she goes back to her country, she will tell her friends to visit the Philippines
too bad i didnt got the chance to ask for her name

[mazdamazda]

The National Government was able to post a P17 billion budget surplus for April. :2thumbsup:

[Blackraven]

Exchange rate improved for another round.

USD$1 = 45.87

Stock market index just broke the 3,500 level today

3,505.01

Our economy is now on the path to recovery

[lightning099]

The Philippines

Published: 21/5/2007 | Last Updated: 21/5/2007 18:20 London Time


The Philippines, the old joke went, is the country of the future – and always will be. Now, with the stock market at a 10-year high, a slew of equity offerings and an increasing number of investors boarding Manila-bound flights, the joke is looking a little dated.

Sentiment has improved on several fronts. The economy is expected to grow by more than 6 per cent this year, bolstered by foreign businesses moving more of their operations to the country. Business process outsourcing is a $3.6bn industry that the local trade body expects to top $12bn in four years. President Gloria Macapagal Arroyo has pushed through sales tax increases so that the country – once Asia's biggest borrower outside Japan – is no longer reliant on foreign debt. The political landscape appears stable. All this has impressed foreigners. This month, Texas Instruments of the US announced plans for a $1bn assembly test site, while Saudi Arabia's Prince Alwaleed bin Talal is to plough $153m into a Manila hotel complex.

Less wealthy investors have been piling in, too. Net foreign buying on the $160bn stock market rose 73 per cent year-on-year in the first four months of 2007. Real estate is on the up. Office prices rose 6 per cent in the first quarter, compared with the previous three months, according to Colliers International, slightly ahead of luxury condominiums. Given low vacancy rates, minimal new supply in the central business district and increasing rents (which are still at a 25 per cent discount to Bangkok and Kuala Lumpur), there is scope for further appreciation. At the grittier end of the investment spectrum, there are opportunities in infrastructure and mining: the Philippines has extractable mineral wealth worth $840bn, or 10 times gross domestic product, says the government. Only a fraction of this is being tapped, reflecting past, botched liberalisation plans. Snags remain, including corruption. But the country no longer looks like a bad joke.


Copyright The Financial Times Ltd. All rights reserved

[lightning099]

The initial findings from the International Business Report (IBR) from Grant Thornton International published today (10 January) show that medium to large privately held businesses around the world are considerably more optimistic about the prospects for their economies in 2007 - with an optimism/pessimism balance percentage (*see note below) of +45%, up from +39% last year. The survey, which covers the opinions of 7,200 business leaders in 32 countries, represents 81% of global GDP.

For the first time in its five year history the Grant Thornton International league table shows the EU (at a balance of +46%) is more optimistic than the US (at a balance of +14%). The findings reflect the growing confidence of EU economies in the past year, in particular Germany +66% (+41% in 2006), France +30% (+1% in 2006) and Italy +21% (-8% in 2006).

Asian business owners continue to be the most confident in the world, with India, the Philippines, Mainland China and Singapore taking the top four positions in the survey. India's position at the top of the optimism/pessimism league table has strengthened to an unprecedented +97% up from +93% in 2006. Japan's figures reflect a steady economic recovery over the past five years from an optimism/pessimism balance of -71% in 2003 to just -5% in 2007.

Notes to editors
Grant Thornton International started a major annual survey of the attitudes and expectations of small and medium-sized businesses in 1992 called the European Business Survey (EBS). In 2003 the research project was widened to an international perspective covering medium-sized businesses and renamed the International Business Owners Survey (IBOS).

In 2007, the survey's name was changed from IBOS to the International Business Report (IBR). The IBR survey draws upon 15 years of trend data for original EBS participants and 5 years for original IBOS countries. 15 year trend data is available for: France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain, Sweden, Turkey and the UK, while 5 year trend data is available for Australia, Canada, Hong Kong, India, Japan, Mexico, Singapore, South Africa and the US.

The research was conducted by Experian Business Strategies Limited and Harris Interactive. All figures were correct at time of going to press. To find out more about IBR and to obtain details of IBR reports and results please visit www.internationalbusinessreport.com.

About Grant Thornton International
Grant Thornton International is one of the world's leading organisations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist business advice to privately held businesses and public interest entities. The strength of each local firm is reflected in the quality of the international organisation. All Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business.

Grant Thornton International is a non-practising international umbrella organisation and does not deliver services in its own name or otherwise. Each member and correspondent firm in Grant Thornton International is a separate national firm. These firms are not members of one international partnership or otherwise legal partners with each other (with the exception of certain limited instances), nor is any one firm responsible for the services or activities of any other.
__________________

[lightning099]

Global Steel to invest $1.5B on new plant

Wednesday, May 23, 2007
Global Steelworks International Inc., the country’s largest steel manufacturer, will invest $1.5 billion for a new integrated steel plant in the country.

“We will produce steel from indigenous sources,” Lalit Kumar Sehgal said during yesterday’s press conference.

According to Sehgal, they are still awaiting government approval. The new plant, he said, will be operational three years after obtaining the government’s nod. Sehgal said they are considering several locations for the plant but is yet to make a final decision.

Should the planned steel plant push through, Sehgal said it will be able to produce $6 billion worth of steel, $1 billion of which will be sold locally while the rest is for exports.

When asked for a time table for the investment, Sehgal said he cannot give one because the government has yet to issue them mining rights. Global Steel is looking at obtaining limestone, dolomite and coal.

Also, Sehgal said the government must give the company infrastructure support before they can commit to investing in the country.

Sehgal refused to say where they will get the money for the new plant saying only that it can be sourced through bank financing or a joint venture.

Global Steel has a multi-billion loan to several local banks including the Philippine National Bank (PNB), Metropolitan Bank and Trust Co. (Metrobank), Land Bank of the Philippines, China Banking Corp. and Rizal Commercial Banking Corp. (RCBC).

In the same conference, Global Steel again dispelled stories that they are selling their Iligan Plant to another Indian firm the Tata Group. Sehgal said that if they are indeed for sale, then they would not consider infusing more money to the country.

However, industry sources disclosed that the two Indian firms are discussing Tata’s bid to acquire Global Steel. “They are in serious negotiations,” the source said.

Danny Concepcion, legal counsel of Global Steel’s creditor banks said the steel firm can sell its assets provided it gets the approval of the financial institutions.

A ranking official of one of the creditor banks said they have heard that Global Steel is indeed for sale. “We heard about it but they have not discussed it formally with us,” the banker who requested anonymity said in a telephone interview.

The embattled company has been in the news recently after the Vietnamese government has accused it of using forged and fake documents in order to avail of the zero percent tariff. The discovery has led to the revocation of duty free privileges and the imposition of a seven percent duty on CRC from the Philippines.

The Vietnam government has revoked the Philippines’ right to sell steel products without additional fees after it has discovered that Global Steel has been using “forged and fake documents.”

Steel manufacturers from ASEAN countries have zero duty privileges when selling to fellow ASEAN countries. The imposition of duty will add to the cost of the product sourced from the Philippines.

However, Vietnam has imposed up to seven percent import tax on cold rolled coils (CRC) from the Philippines after the Vietnam Steel Association (VSA) discovered that Global Steel has allegedly been using forged and fake documents to make it appear that the products were made from the Philippines.

Global Steel has denied all the allegations.

[maverickjazzy]

Mining investments to hit $ 348 M Local investment in the mining industry this year is expected to reach US8 million as more mining companies are expanding their facilities.

Environment and Natural Resources Sec. Angelo Reyes said the expansion of the HPAL facility of Coral in Palawan is expected to bring in about $ 154 million; $ 23 million from the construction of the base metal plant of TVI in Zamboanga del Norte, $ 21 million from the development of the Didipio copper-gold project in Nueva Vizcaya; $ 36 million from the Masbate gold project in Masbate island; and $ 97 million from the continuing rehabilitation of the Carmen copper project in Cebu.

He told members of the business community during the JP Morgan Philippine corporate access days forum that a total of US4 million in investments have been infused in the country’s mining industry during the past two and a half years of the government’s mining revitalization program.

Investments are still expected to rise in the coming years with significant inflow next year up, said Reyes.

"The Philippines is a logical choice for many prospective mining investors because of the country’s highly potential mineral wealth, and the country should take advantage of this interest to generate funds needed for economic development."

Among the areas identified by the DENR chief as having high mineral potential include Baguio and Mankayan districts area, for copper and gold; Surigao-Davao districts area, for gold, chromite and nickel; and Palawan, also for nickel.

The mining companies operating in these areas are Lepanto Consolidated Mining Co. and Philex Mining, for gold in the Baguio-Mankayan area; Berong Nickel Mining Co. and Celestial Nickel Mining, for nickel in Palawan; and JLB Enterprise in Surigao del Norte, Ventura Timber Corp. in Surigao del Sur, Carac-an Development Corp. in Surigao del Sur and Nationwide Development Corp. in Davao del Norte.

Since the start of the government’s mining revitalization program in 2004, some 6,500 new jobs have been created by the industry and that an additional of more than 30,000 jobs are still projected to be generated between 2008 and 2010.

Aside from gold, copper, and nickel, magnetite- and chromite-bearing sands also abound in the country’s offshore area.

The Philippines has around 2.2 square kilometers of offshore and exclusive economic zone area that can be explored for such resources.

"The country’s rich mineral wealth cannot just be left untapped on the ground but has to be developed and exploited in order to generate the capital wealth needed for the development of our communities and country," Reyes said.

DENR 2006 mining industry statistics showed that mining gross production value reached P68.4 billion; mining’s contribution to gross domestic product in 2005 also reached P14.8 billion; and taxes, fees and royalties from mining amounted to P3.1 billion.

[maverickjazzy]

Medyo OT lang po, about 4 years ago or sometime in 2003 (this was the time when the country is reeling from so much problems), an officemate of mine told me that his wife has some psychic powers. His wife predicted that GMA would be re-elected as president(although she did not specify if through cheating or honest votes )and that during the latter part of Gloria Arroyo's 2nd term our country would start to take-off economically and/or experience renaissance. Although i'm very skeptical at that time and still skeptical up to now if this would come true because I dont believe in supernatural powers.

But I'll gladly change my beliefs about psychic powers once our country really achieve some measure of prosperity and this new-found economic strength of our country trickles down to the majority of our people.

[morrissey_05]

i think that should be the measure of our economic growth, that it has actually trickled down to the majority. that for me is the real good news.

[rdecruze]

i think that should be the measure of our economic growth, that it has actually trickled down to the majority. that for me is the real good news.

I think we will come to that. Syempre matagal kasi marami tayo kaya kailangan muna ay more projects to create more jobs.
I've heard this phsychic story and i pray sana totoo para mapatawad naman si GMA sa kanyang mga kasalanan....we will see in her last term