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Economy of the Philippines

2007-07-11T16:43:00.000+08:00

The Philippines is a newly industrialized country in South-East Asia. In 2004, it was ranked as the 24th largest economy by the World Bank according to purchasing power parity.

The Philippines is one of the emerging markets in the world.

Important sectors of the Philippine economy include agriculture and industry, particularly food processing, textiles and garments, and electronics and automobile parts.

Most industries are concentrated in the urban areas around metropolitan Manila.

Mining also has great potential in the Philippines, which possesses significant reserves of chromite, nickel, and copper.

Recent natural gas finds off the islands of Palawan add to the country's substantial geothermal, hydro, and coal energy reserves.

ECONOMY

2007-07-10T10:22:00.000+08:00

Since the end of World War II, the Philippine economy has had a mixed history of growth and development.

Over the years, the Philippines has gone from being one of the richest countries in Asia (following Japan) to being one of the poorest.

Growth immediately after the war was rapid, but slowed over time.

A severe recession in 1984-85 saw the economy shrink by more than 10%, and perceptions of political instability during the Aquino administration further dampened economic activity.

During his administration, President Ramos introduced a broad range of economic reforms and initiatives designed to spur business growth and foreign investment.

As a result, the Philippines saw a period of higher growth, but the Asian financial crisis triggered in 1997 slowed economic development in the Philippines once again.

President Estrada managed to continue some of the reforms begun by the Ramos administration.

Important laws to strengthen regulation and supervision of the banking system (General Banking Act) and securities markets (Securities Regulation Code), to liberalize foreign participation in the retail trade sector, and to promote and regulate electronic commerce were enacted during his abbreviated term.

Despite occasional challenges to her presidency and resistance to pro-liberalization reforms by vested interests, President Arroyo has made considerable progress in restoring macroeconomic stability with the help of a well-regarded economic team.

Nonetheless, long-term economic growth remains threatened by widespread poverty, crumbling infrastructure and education systems, and trade and investment barriers.

Important sectors of the Philippine economy include agriculture and industry, particularly food processing, textiles and garments, and electronics and automobile parts.

Most industries are concentrated in the urban areas around metropolitan Manila.

Mining also has great potential in the Philippines, which possesses significant reserves of chromite, nickel, and copper.

Significant natural-gas finds off the islands of Palawan have added to the country's substantial geothermal, hydro, and coal energy reserves.

Merchandise trade

2007-07-09T17:12:00.000+08:00

- Imports contracted by 1.8% in April to $4.3 billion from $4.4 billion last year.

Despite the drop, merchandise imports remained bigger than exports, which reached $4.1 billion for the same month.

This resulted to a trade deficit of $219 million, narrower by 56.1 percent from last year’s deficit of $499 million.

Electronics, which accounted for 42.6 percent of imports, declined by 17.3 percent to $1.8 billion from $2.2 billion a year ago.

Other imported products that recorded significant drop were cereal products, iron and steel and plastics, which contracted by 35.7 percent, 16.8 percent, and 14.2 percent, respectively.

- For the eighth consecutive time, the U.S. Federal Reserve decided to leave its key interest rate unchanged at 5.25 percent in its policy meeting held on June 28, 2007.

The decision to hold rates steady was primarily attributed to the modest improvement in inflation in the recent months. U.S. core inflation rose by just 2.0 percent year-on-year in April, its smallest in over a year.

- The government announced its plans to generate additional revenues of P105 billion through the sale of its remaining stake in PNOC-Energy Development Corporation (EDC), San Miguel Corporation (SMC), and Manila Electric Company (MER).

The proceeds would be used to help the government attain its programmed deficit for the year.

- The peso weakened against the dollar during the week, closing at P46.24 per dollar, down by 0.39 percent or 18 centavos from last week’s close of P46.06 per dollar.

The peso’s performance was limited by the strength of the dollar following the US Fed’s decision to keep its key rate steady.

- The PSEi closed the week lower at 3,665.23 points, down by 0.97% or 35.93 points from the previous week’s close of 3,701.16 points.

Among the PSEi members which posted losses in their share prices during the week were Lepanto Consolidated Mining Company “B” & “A” (LCB & LC) and Manila Mining Corporation “A” (MA) which share prices dropped by 13.89 percent, 9.68 percent, and 8.33 percent, respectively.

Good Aternoon!.Its nice to be back after a long ti...

2007-07-09T17:07:00.000+08:00

Good Aternoon!.Its nice to be back after a long time no posting my blog here...Hope your all fine,,,and don't worry co'z I'm fine too...Thank's for dropping by!.c yah!.

Philippines calls in troops to stop poll violence

2007-05-10T17:13:00.000+08:00

Philippine President Gloria Arroyo ordered the military Monday to help police maintain order amid escalating violence in the run-up to May 14 mid-term elections.

She made the announcement hours after the mayor of the northern city of San Carlos, Julian Resuello, died in a Manila hospital early Monday after he was shot at a beauty festival.

One of his aides died instantly and seven others were wounded in the attack late Saturday.

In a separate incident, the mayor of Morong in Bataan, north of the capital Manila, survived an attack on his home when gunmen sprayed it with automatic fire.

Arroyo ordered the military to help police dismantle "private armies" as political violence increases.

"I am calling on the armed forces to reinforce the police, under Comelec (Commission on Elections) authority to stop election violence and move forcefully against those using threats and intimidation for partisan politics," Arroyo said in a statement.

"All identified private armies must be pre-empted and dismantled."

The Philippines goes to the polls in the next two weeks to elect 12 senators, the entire 230-seat House of Representatives and thousands of local officials from members of town councils to mayors and provincial governors.

But elections here are often marred by violence, with rival politicians, especially in the provinces, maintaining armed groups -- effectively private armes -- to intimidate or harass opponents.

On Thursday, a town council candidate and a policeman were killed in an ambush by suspected political rivals in the town of Jaen in northern Nueva Ecija province.

Seventeen others were wounded, including three policemen, forcing Comelec to place the province under its security watch to prevent further bloodshed.

In the 2004 presidential elections, 148 deaths were recorded and 111 deaths were linked to the 2001 mid-term polls.

So far in this election 25 people have been killed.

National police chief Oscar Calderon said at the weekend that only 52 of 90 known private armies controlled by politicians nationwide have been dismantled and some 2,000 individuals illegally carrying guns were arrested.

Hilot: The Art and Science of Touch

2007-05-08T20:32:00.000+08:00

Make no mistake, hilot or ablon is not about going to a spa and getting a massage because you want to relax and come away with a feel-good attitude.

The benefits reaped from this type of physical manipulation have a more lasting effect.

“It is the practice of Filipino manual medicine,” according to Virgil J. Mayor Apostol, 42, a certified holistic health practitioner, who co-authored “The Healing Hands of Hilot.” Apostol practices his medicine in Hawaii and California.

Born and raised in Los Angeles, California, Apostol descends from a paternal and maternal bloodline of healers.

Through extensive research, time spent learning the teachings of respected elders in the rural areas of the Philippines and clinical practice in the U.S., Apostol continues to refine ablon/hilot as a science and spiritual practice.

His background in the Filipino martial arts has also enhanced his intuitive knowledge as a healer.Ablon/Hilot is the oldest and most secret of the Filipino healing arts in the Philippines.

It is very rare for masters of this practice to divulge their secret of healing.

This ancient art of healing is either learned from relatives, through hands-on practice or inherited from forefathers, passing it on from one generation to the next.

This type of healing supposedly dates back to the first civilization of the Philippines (approximately 5th century).

There is, however, no written documentation of the history of this art.

The masters failed to document the origins, dates, facts, where the art originated and who developed these effective and healing arts.Ablon/Hilot is practiced to varying degrees or levels in the Philippines, but has now found its way to many parts of the world.

Apostol gave a presentation of his practice at the International Conference on the Hawaii Filipino Centennial in Honolulu recently.

He said: “Due to historical accounts that have influenced the psychology of the people, Filipinos have become victims of colonial mentality that has placed neglect on our own cultural heritage in favor of just about everything ‘American.’

Our very own traditional Filipino medical system, although very strong in the Philippines, is taken for granted here in the West.

Although the younger generation may have heard of these healing practices, they are practically unknown by non-Filipinos.

“It is interesting to note that in the Philippines, practitioners of traditional medicine outnumber practitioners of biomedicine, with at least 40,000 traditional birth attendants and 100,000 herbalists -- high figures that do not even account for the thousands of manghihilots, acupuncturists and other practitioners.

In the United States, however, the reverse ratio applies in that the availability of Filipino healers is smaller than practitioners of allopathic medicine.”What are the traditional Filipino ways of healing?

It’s varied specializations - midwifery, pulse diagnosis, bone setting, manual medicine, herbology, suction cupping, skin scraping, herbal steam and smoke, “energy medicine” - just to name a few, date back to indigenous science of Asian origin.

This tradition includes numerous forms of metaphysical healing that not only deal with the spiritual realms, but also the mental and emotional aspects.

Ablon (term used by Ilocanos, Yapayaos and Itnegs of Ilocos Norte) or Hilot (Tagalog term) is an ancient Filipino hands-on healing, therapeutic and rehabilitative procedure.

It is considered an effective means to relieve pain in the Philippines.

But to get to that pain-relief stage, one must endure the pressure and manipulation applied to the area of discomfort.

“The mangablon or manghihilot is very acute in assessing injuries,” said Apostol. “The practitioner has an uncanny ability to sense fractures and reset them before wrapping the injury with medicinal herbs and barks.

“The ablon/hilot approach is the opposite to that of massage. A sprain would get a thorough treatment even if it sometimes means that the person would have to bite down on a stick!”It sounds excruciating and it can be, but Filipinos who are familiar with this type of manipulation, will be the first to extol its healing properties

"If proper manipulation is not done right away, the viscous coating around the injury will harden and adhesions will develop restricting proper blood flow and nerve impulse, affecting or prolonging the healing process,” said Apostol.

“There are also injuries indicative of belles or pilay, a sprain or displacement of the bones, nerves and veins. Following such injuries, inflammation is understood to occur and must be treated in order to adjust proper setting and flow.”How does Ablon/Hilot work?

According to Apostol’s Marhalikan Healing Arts Center brochure, it is the practice of accomplished hands-on yet differs from massage.

After an initial consultation is conducted and background information obtained, the process of ablon/hilot follows: this involves the manipulation of the nerves and veins, joints, tendons, sinews and ligaments.

Through deep concentration and attention to specific details, the unique mobilization, manipulation and stimulation methods are what make ablon/hilot excel in the proper functioning of: the nervous system which regulates and coordinates bodily activities and responses; veins and arteries which support the flow of blood; tendons and ligaments that support the physical movement of muscles and bones.Sensitivity to ablon/hilot may surface during the session. According to the brochure, this is due to the nerve-pathway stimulation. But the results outweigh any initial discomfort - an indicator of bodily imbalances.

This can lessen or even diminish after consecutive ablon/hilot sessions - an indication of the body’s return to improved health.Based on his research, Apostol’s holistic approach addresses the mind and body through cultural and sociological perspectives.

“Many traditional Filipino healers heal from both a scientific, spiritual background and holistic attitude.

This is especially true since the cultural roots stem from an animistic base where spirituality is high and esoteric devotees have an uncanny ability to tap into altered state of consciousness in order to obtain information.

“Perhaps the earliest concept of illness causation is that they were the result of offended elemental or ancestral spirits, or through sorcery - beliefs that still exists to this day.

Those that suspect illness attributed to one of these two sources prefer treatment from a traditional healer that specializes in such cases.“Not only would it be beneficial but crucial for us to adopt a “holistic” lifestyle.

Deriving from the Greek root word, holos, for “whole,” Taber’s medical dictionary clearly defines holistic medicine as “comprehensive and total care of a patient.”For Filipinos who have been used to trading and bartering with the local mangablons/manghihilots in the rural areas of the Philippines, watch out.

It won’t be long now before the world, via word of mouth and web access, catches on to the healing arts of our nanays and tatays. The secret is out.

Philippines’ growth, real or imagined?

2007-04-17T14:25:00.000+08:00

THE Philippine economy is growing and will continue to grow for as long as President Gloria Macapagal Arroyo, a Georgetown-educated economist, is in charge.

So goes the line that the Arroyo administration has been pushing and which it hopes will result in a resounding victory for her party in the coming May elections.

Mrs. Arroyo herself is not a candidate, but the general consensus is that the senatorial elections will be a gauge of her popularity, or lack thereof.

A win by the majority of her candidates means that the people are silently supporting her policies which are aimed at continued growth of the economy.

For the most part, there are indications that our homeland’s economy is no longer in bad shape.

The Filipino American community, which has kept its ties with the motherland, shares some of the responsibility through the huge volume of remittances sent back home month after month, year after year.

Now comes an Asian Development Bank report that says the claims of Mrs.

Arroyo may be lacking a solid foundation.

The report released late last month says that the Philippines is not even keeping up with the growth in the region.

Worst of all, the expansion of the country’s gross national product will not translate into increased employment.

The Philippine population continues to grow at a steady clip creating a work force that still will not be 100 percent employed anytime in the near future.

The ADB report paints a less-than-bright scenario for the Philippines.

Last year, the region grew by 8.3 percent, the healthiest in more than a decade.

The Philippines’ growth was far, far less. Close to three percentage points less, in fact.

Simply put, the country is still falling behind its neighbors.

The country is still an economic laggard.

The country may as well retain its old title of Sick Man of Asia.

An exaggeration? Not really.This year, the Asian economies are projected to grow by 7.6 percent on the average.

Next year, the growth will be 7.7 percent.Closer to home, the Southeast Asian economies might not grow as much as the rest of Asia, but such countries as Singapore, Malaysia, Indonesia, Thailand and Vietnam are still expected to outpace the Philippines.

The ADB projects Southeast Asia’s economies to grow by 5.6 percent and 5.9 percent, this year and next, respectively.

The Philippines, on the other hand, will only expand by 5.4 percent and 5.8 percent this year and next.

The Arroyo administration’s biggest mistake is taking the country’s growth out of context.

Since all the economies of the world are inter-connected and inter-related – with the only exceptions being North Korea and to a lesser extent Cuba – there are always winners and losers where growth is concerned.

Countries which fall behind will see their citizens’ quality of life depreciate, while those which do well will naturally appreciate.

So where does the Philippines under GMA stand?Pardon this awful joke, but only as high as her own short physical stature. Growth will be stunted vis-à-vis Asia and Southeast Asia.

If the president of the Philippines wants to claim that she is handling the economy well, she must begin by doing her homework.

Surely the lessons she learned in Georgetown University remain valid.

She must lead the country to a period of sustained high economic growth, reducing unemployment to as close to nil as possible, and eradicating poverty at all cost.

A tall order perhaps, but one that Mrs. Arroyo must be committed to achieving if her presidency is to mean anything in the country’s history.

The Filipino people can forgive her many flaws, but they cannot and should not forgive the lie she is peddling that the Philippine economy is in great shape.

Health and hospital execs to promote medical tourism

2007-04-14T19:44:00.000+08:00

From April 30 to May 2, 2007, senior government officials and chief medical directors of premier medical hospitals in the Philippines will be in California for business meetings and presentations on Philippine medical tourism industry.

The participating hospitals are St. Luke’s Medical Center, The Medical City, Makati Medical Center, Capitol Medical Center, and University of Sto. Tomas Hospital, National Kidney and Transplant Institute, Philippine Heart Center and Asian Hospital.

A forum will be held on May 1, Tuesday, from 6 p.m. to 8 p.m., at the Social Hall of the Philippine Center Building, 447 Sutter St., San Francisco, California.

At the forum, Undersecretary Jade del Mundo of the health department will provide an overview of regulatory policies and standards that govern health service delivery in the Philippines.

Ruy Moreno from the health and wellness committee of the taskforce on global competitiveness will share the public-private efforts to make medical tourism easily accessible to the global market.

Dr. Jorge Garcia from premier medical facility Asian Hospital will present the top medical and surgical procedures available for medical tourism in the Philippines today.

With healthcare costs in the U.S. rising rapidly every year, more Americans are looking to countries like the Philippines for their medical care.

Available services range from the simple to the complex, from the cosmetic to the life-saving procedures, such as dentistry, plastic surgery, kidney, ophthalmology, orthopedic surgery and rehabilitation, and cardiovascular.

In 2006, total national health expenses in the U.S. paid for by public and private insurance companies amounted to $2,169.5 billion of which professional services (physician, clinical, dental and others) was about $680 billion.

Add to this the health expenditures of one in six Americans who do not have medical insurance to get an even more staggering number!

Medical tourists can expect to be in safe hands with Filipino medical professionals educated in the best Asian schools, many of whom trained in American and Japanese medical facilities.

The country’s hospitable people and tropical environment make healing a leisurely experience.

And medical tourists get great value for their money, paying only a fraction of medical costs for the same service provided in their countries.

Global Change

2007-04-11T00:15:00.000+08:00

The Global Change Program focuses on the impacts of climate change on water supplies, wildlife, the environment, and human society.

In the world of contemporary American politics, the dangers of climate change remain hazy and indistinct. But among scientists a consensus has formed: We must act.

Although there is still much we don't know, an overwhelming majority of scientists who study the issue believe that global warming is already changing our climate, with dangerous and potentially deadly consequences for the future.

The threat of climate change cuts across all of the Pacific Institute's programs and has been a focus of our work from the beginning.

The Global Change program is dedicated to studying the impacts of climate change, educating policymakers about the dangers, and creating real-world solutions to slow or reverse this threat.

This company specializes in credit-challenged debtors

2007-04-04T09:33:00.000+08:00

Larry Medina, Mar 28, 2007

LOS ANGELES – Home financing can make you crazy if you’re credit-challenged but in this city there’s one company that can bring back your sanity even when you’re on the verge of losing your mind and even your home.

Recently, the Filipino American Real Estate Professional Association (Farepa) of LA has sought the assistance of Clear Credit Exchange (CCE) to help FilAms in addressing their mortgage and credit concerns.

According to Farepa, CCE specializes in repairing consumer credit reports, debt management and tax relief.

It also deals with bankruptcies to chargeoffs and virtually every credit-related problem.

Hazel Valera, CCE president and chief executive officer, says its success is based on three things: CCE executives believe in what they’re doing, they enjoy what they’re doing, and are committed to helping consumers.

Valera further says that CCE’s services are engineered “from the ground up” with the financial solutions required to assist consumers.

By customizing a financial solutions program to each client’s individual situation, they automatically get the detailed care they deserve to obtain the targeted results.

Much more, they provide education and assistance for credit enhancement, debt management, debt negotiation, debt settlement, rent reporting, credit coaching, credit analysis, credit rebuilding, credit scoring updates, business credit building, and relief from taxes.

For example, explains Valera, in a CCE’s FICO credit score workshop/credit enhancement seminar, CCE’s results tested service utilizes the Fair Credit Reporting Act to remove inaccurate and unverifiable items from your credit reports.

Most consumers in this program have slow payments in the past, collections, judgments, tax liens and even bankruptcies.

Most of CCE’s clients see immediate results in their credit score in as little as 90 days.

Every point matters when you’re trying to obtain financing.

Their jumpstart program, as another example, can buy time to negotiate a 180-day break for consumers to provide some breathing room from monthly payments.

By giving them the time needed and deferring payments to the minimum possible, they can make the financial moves a consumer needs tostart over.

For business owners, they offer a workshop on creating corporate credit.

This service teaches business owners to stop tying up all their personal credit in their respective businesses and to separate business from personal credit by building their own businesscredit profile.

And for real estate professionals, CCE offers a class covering credit scoring, how to save a home sale, how to create a “seasonless” market, the psychology of a debtor, and how to turn debtors into homebuyers through strategic marketing.

“With over 16 years of experience and personal history I am passionate about empowering the community on strategies to overcome negative financial events in their lives,” Valera tells Philippine News.

Recently, she was the guest speaker at a Farepa meeting that covered the break down of credit scoring and what to do when financial hardship occurs.

The tips are practical and works with the system to get clients back on track with integrity and knowledge, Valera narrates.

“I believe that through education presented to professional groups such as realtors, loan officers and Farepa, we can assist more people in the shortest period of time,” she states.

“The real estate industry attracts people who are interested in moving forward in life,” she elaborates.

“Purchasing a home is one of the largest financial moves that a family makes.”Valera is a certified debt arbitrator, credit coach.

She is also the author of “Strength in Numbers: Managing a Winning Credit Score” released July 2007.

A former mortgage and real estate professional, she has 14 years of experience in real estate finance and underwriting.

Valera also conducts training classes for loan officers on how to extend assistance to credit challenged clients instead of turning them away.

Spring Oil posts third

2007-04-03T10:08:00.000+08:00

LAST year’s runnerup Tagaytay-Spring Cooking Oil nipped slumping Quezon Villa Anita, 80-77, Sunday to assume solo leadership in the 2007 NBC National Cup basketball tournament at the Tolentino Sports Center in Tagaytay City.

The Cooking Oil Masters of NBC president Nathaniel “Tac” Padilla and league EVP Mayor Bambol Tolentino leaned on Nani Epondulan and Jeff Tajonera to post their third straight victory.

The Firefly/Iligan Crusaders scored a masterful 96-72 win over the visiting Montaña Pawnshop-Davao Jewelers to tie idle Valencia Golden Harvest for second place.

The Crusaders of Mayor Lawrence Cruz broke away in the payoff period enroute to their second victory in the tournament sponsored by Sulpicio Lines, Yahoo Philippines, Spring Cooking Oil, San Miguel Beer, Caltex, Sun Cellular, Firefly Lightings, Molten, Nature’s Spring, Basketball TV and Viva Prime Channel.

The scores:

Spring 80—Epondulan 19, Regalado 12, Mallari 11, Legaspi 7, Marquez 5, Salud 4, Bolocon 3, Reyes 3, Cuenca 0, Muñoz 0.

Quezon 77—Gahol 24, Mendoza 11, Buenaventura 11, Drio 10, Agapito 6, Veranga 6, de Guia 4, Malonzo 3, Gonzales 2, de Leon 0, Vilar 0, Zuniga 0.

Quarters: 23-19, 43-41, 59-59; 80-77.

Security up as Holy Week exodus begins

2007-04-02T10:29:00.000+08:00

Security at the country's air and sea terminals were tightened over the weekend as Filipinos started going home to the provinces for the annual Holy Week break.

At the Manila Domestic Airport and Ninoy Aquino International Airport-Terminal 2, officials set up operations counters to ensure the smooth flow of operations.

Alfonso Cusi, general manager of the Manila International Airport Authority, said the coutners will be manned by personnel from the public affairs, engineering and medical departments.

He added that those assigned to the special counters will be there to assist passengers and other guests at the airport, adding that the comfort and safety of travelers will be ensured especially during the Lenten holidays when crowding and long lines are inevitable.

Cusi said additional security personnel will be assigned in various “critical” areas of the facility, from the curbside to the NAIA's departure area.

At the Port of Batangas, authorities said Sunday that some 12,000 tickets were sold for the Saturday departures alone.

(As of now, it’s still manageable but we're expecting at least 20,000 more passengers in the coming days)," said Fe Faytaren, assistant administrative officer of port operator Asian Terminals, Incorporated.

It was learned that most of the passengers at the port will travel on fast-craft vessels bound for Puerto Galera's beaches in Oriental Mindoro province.

Puerto Galera is world-famous for its white sand beaches.

Port authorities, meanwhile, said that they already have tightened security and informed passengers about prohibited items in their luggages.

Port policeman Sherwin Chavez said authorities have already seized some knives from passengers this week despite previous warnings.

(We had warned them ot to bring knives, but some people still bring them),” said Chavez.

The Lenten holidays officially start on Maundy Thursday and end on Easter Sunday for both the public and private sectors.

Private firms, however, have the prerogative of allowing their employees to start their Holy Week break on Holy Wednesday....

OFW, hot money inflows fuel surge in liquidity

2007-04-01T23:04:00.000+08:00

Domestic liquidity, a broad measure of money supply and deposit levels in banks, continued to surge in February, fueled by the steady inflow of remittances from overseas Filipino workers (OFWs) and foreign portfolio investments.

The Bangko Sentral ng Pilipinas (BSP) reported that domestic liquidity, also known as M3, grew 22.4 percent in February, only marginally slower than the 22.8 percent growth rate recorded in January.

BSP Governor Amando M. Tetangco Jr. said the growth in February reflected the steady rise in net foreign assets despite the slight slowdown in the expansion of net domestic assets.

"Overseas Filipino workers’ remittances, export earnings as well as foreign direct and portfolio investments continued to drive the sustained growth in foreign assets," Tetangco said.

The surge in foreign exchange inflows - which ultimately translates into more pesos circulating in the local financial system - means that the total amount of money in the system is on a sustained expansion track.

According to the BSP, the growth in credit to both the public and private sectors also contributed to the expansion of domestic liquidity since banks were releasing more funds into the system to their borrowers who, in turn, would spend them.

Tetangco noted that there was a slight slowdown in credit to the public sector from 20.3 percent to 13 percent as well as the private sector whose borrowing slowed down to 4.1 percent from 6.2 percent.

Nevertheless, Tetangco said the BSP was closely monitoring the growth in domestic liquidity which has since become one of the main concerns of monetary authorities despite the apparent resilience of the country’s inflation rate.

Even at this level of expansion, however, Tetangco said the BSP did not consider the domestic money supply as "excessive".

Tetangco has already brushed aside speculations that the BSP was gearing up to undertake non-policy related "tools" to mop up liquidity including the possibility of issuing its own bonds.

"Under our charter, we are allowed to do that under extraordinary circumstances," he said.

According to Tetangco, however, he does not consider the current money supply as excessive or the current conditions "extraordinary".

He said the central bank is already making sure it has ample room for any policy response that would be needed should money supply start affecting its inflation target.

"We want to make sure that the benign inflation environment is maintained over the policy horizon," he said.

Tetangco maintained that the economy has the capacity to absorb the dramatic increase in the demand for money without creating inflation pressures.

Tetangco downplayed the surge, saying that even at this rate, the domestic economy still has the capacity to absorb the liquidity without necessarily triggering a corresponding increase in inflation rate.

"That’s still absorbable," Tetangco said. "There is brisk activity in housing development and real estate in general as well as agriculture," he added.

The BSP has projected the demand for money to grow by an average rate of 14 percent for 2005 and 2006 but Tetangco said the dynamics of the country’s domestic economy is changing faster than expected.

"The sectors that use up liquidity are now bigger than before so they have a bigger absorptive capacity," Tetangco said.

"Even at this level, we see no threat to our inflation target but that doesn’t mean we are not watching it.

We are always watching it."

Japanese business sentiment in RP, Asean region improves

2007-03-31T17:24:00.000+08:00

The overall outlook of Japanese business sentiment in the Philippines and the Asean region has improved in March as the index rose to 4.1 points due to improved economic condition in the region.

A survey by Japan External Trade Organization (JETRO) showed that the overall current business sentiment for the ASEAN countries showed little improvement, with the index gaining just 0.2 points in February.

"This reflects a continued slow overseas demand for electric and electronic equipment.

By country, current indices for all locations with the exception of Singapore and the Philippines, remained depressed in the March survey."

The Jetro index for Thailand sank below February’s already record low, due mainly to stagnant domestic demand for transport equipment such as automobiles and worsened performance in construction and real estate sectors, as housing demand fell off, the JETRO survey said.

JETRO noted that the overall current business sentiment for China and North Asia fell into a negative territory in March, with the index declining 2.8 points over February to stand at -0.3.

By country, the index for mainland China remained strong at 11.6, although continuing on the downward trend that began in October 2006.

The index for the country’s electric and electronic equipment sector remained depressed, reflecting decreasing overseas demand.

The index for the electric and electronic sector in Southern China declined 39.9 points to -25.0.
Overall, the indices for Taiwan and South Korea in these sectors remained depressed, standing at 27.4 and -16.7 respectively.

JETRO said the overall forward business sentiment for China and North Asia remained unchanged in March, holding tight at 0.3, reflecting continued depressed sentiment in Taiwan and ROK, where indices stand at -17.9 and 16.7 respectively.

Declining sentiment was also recorded for mainland China, where the index slipped 4.9 points to 6.7 in March.

In Southern China, where there are a number of export companies, saw worsened sentiment in this latest survey, due mainly to weak demand for IT products such as personal computers and LDC monitors.

However, the sentiment in the region, is expected to recover by May.

The monthly survey of JETRO on the Japanese companies and affiliates operating in 12 countries of East Asia revealed that the overall current sentiment remained depressed in the ASEAN region and showed little sign of recovery.

The index for Thailand continued on its downward trend, dropping to its lowest level since the survey began in June 2001.

The current sentiment for Hong Kong and mainland China continued solid, while the index for mainland China continued on the gradual downward trend that started in October 2006.

The overall current sentiment for China and North Asia fell into a negative territory, as firms in

Taiwan and the Republic of Korea (ROK) showed no signs of recovering sentiment.

Global Filipinos,Beyond Remittances:Meddling or Caring

2007-03-30T17:27:00.000+08:00

National and local elections this May will continue to occupy most Filipinos, including those living and working abroad.

The importance of the results, in terms of reversing or reducing graft and corruption in government, cannot be overemphasized.

FILGLOBAL, via the internet, has deemed it a duty to remind voters back home to choose candidates wisely, and right or wrong, boldly recommends 12 senatorial candidates.

Many, specially the early OFWs, reminisce those bygone days when the Philippines was second to Japan and choose only to sulk in disgust now that economically and militarily, we are the Sick Nation of Asia, perceived to be the most corrupt in the region.

For an overseas Filipino, to simply shrug this off goes against the grain of love of country, patriotism and duty.

Global Filipinos can do something!

They must not ignore the call to make a difference.

Someday, many will likely go home to retire. Even from distant shores Global Pinoys can help make the Philippines a better place.

There is no better time to start than NOW!Remitting $12-14 billion annually to family and relatives has not really changed anything insofar as reducing graft and corruption in government, or instilling discipline among the populace.

If we care economically, why can稚 we care in more fundamental ways beyond curbing corruption, such as teaching relatives those courteous, disciplined ways we learned abroad?

Like it or not, the 10 million overseas Filipinos ARE the new middle class.

Historically, it bocomes our obligation to push for positive changes.

And remember, underneath that brown skin, Filipino caring blood flows no matter what country or citizenship we have adopted.

Mabuhay ang Pilipinas!

‘Let’s focus on doing what is right, and results will follow’

2007-03-28T23:19:00.000+08:00

I will endeavor to briefly share with you, if I may, my humble views gathered from various sectors in the U.S. about Philippine development.

This, I believe, would be germaine given that the U.S. is cumulatively our largest foreign investor and is at the same time our largest trading partner.

The U.S. also provides us with the highest level of official development grant assistance, and is home to the largest Filipino community abroad with the highest disposable income, contributing about 60% of the total remittances to the Philippines.

In any discussion on Philippine development, all of us must join in praising the admirable success in our fiscal reforms which has resulted in a strengthened peso, increased international reserves, a vibrant stock market, a reduced budget deficit, lower interest and inflation rates along with record remittances and respectable GDP and GNP growth rates.

To achieve a broad-based growth however, the most major challenge we now face is how to aggressively increase employment in all sectors encompassing agriculture, industry and services.

Without the necessity of citing statistics, our performance in terms of meeting employment targets is falling short. We are, for instance, graduating more students than there are new jobs being created.

Thus, we need to create many more jobs.

To create more jobs, we need to increase overall investment and continue to improve the investment climate.

Whereas FDIs are on a significant upswing, total investments have also been falling short as local investors appear to be sitting on the sideline.

We need to validate this and, if it so, we need to know why.

Since it is my intention to focus on the potential for more investments from the U.S., let me articulate, if you will, certain notable sentiments from the private and public sectors in the U.S.

One great observation is that nearly everyone wants this administration to succeed.

A second great observation is there exists a huge reservoir of American goodwill for the Filipino people.

Everywhere you go, you find this to be true, including the executive and legislative branches of the U.S. Government.

I have been to 40 states and many more cities, and it was so gratifying.

The not so great observation is that we have not been fully successful in tapping this goodwill.

In order to do this, we must show more political will to do what is right in addressing our country’s problems.

We are expected to do what is right: (1) in defending our democracy; (2) in continuing to reform the economy; (3) in improving governance through addressing corruption and inequality; and (4) in fighting terrorism and maintaining peace and order.

In terms of defending our democracy, our many friends are expecting that we will do what we can to ensure clean and credible elections.

There are now unfortunately new concerns that the military may be involved in electioneering.

In the halls of U.S. Congress, there are deep concerns about alleged human rights violation against journalists and political activists.

In terms of continuing economic reforms, it is essential for us to improve infrastructure and productivity.
We must also lower the cost of doing business, address red tape, and have a working national policy on competitiveness.

There is an equal urgent need for more programs to cascade economic benefits to the countryside.

For example, there is a U.S. Digital Freedom Initiative for Apec developing member countries for the transfer of information and ICT to benefit entrepreneurs and small businesses in the countryside.

This has not been offered to the Philippines but should be pursued.

There may be also an opportunity to have Filipinos in America buy dollar-denominated retail bonds to benefit microfinance initiatives in the countryside.

Given our familiarity with various leaders of the Filipino American community, Ms. Loida Nicholas Lewis and I will be honored to help if a roadshow were to be organized.

In terms of good governance, we need to continue addressing the problem of corruption by accelerating effective programs against smugglers and tax evaders.

The full force of the law should be applied to those found guilty and a message must be established that no one is above the law.

Successfully addressing corruption will yield its own dividends in the form of revenues for increasing government investments.

In terms of addressing inequality, we must invest more in the livelihood, education and health of our people.

This fortunately has began as a result of improved fiscal performance.

In terms of fighting terrorism and maintaning peace and order, the signing of the anti-terrorism law has strengthened our ability to take a position against terrorism.

We must stay on course in reforming the AFP and the PNP.

We must also endeavor to finalize the elusive peace process with the MILF, which will serve to unleash the total potential of Mindanao.

Given the aforementioned challenges, we must fully focus on doing what is right and the results will come.

Even local investors who may be currently on the sidelines would surely see this as an encouragement to invest more in our country.

I recall in one of our roadshows in the not too distant past, that we had been complimented for excellence in our rhetoric.

In the same breath, however, it was also suggested that our ability to execute needed to be reinforced.

To respond to this constructive criticism, the government should resolve to move into other reform areas on the strength of its successful execution of fiscal reforms.

In terms of execution, there are countless opportunities for public and private sector cooperation.

On marketing the Philippines as a preferred ICT outsourcing location, the Philippine Embassy in Washington was able to invite the private sector, more specifically PLDT, towards a successful partnership in working with the Embassy, and the DTI.

On another successful partnership, the Philippine Embassy organized with 15 Philippine property developers as a roadshow in six U.S. cities which served to increase remittances from the U.S. to the Philippines.

In closing, if we are to achieve broad-based growth through higher investments, there must be a strong concurrence on our part to do what is right in defending our democracy, in continuing to reform our economy, in improving governance through addressing corruption and inequality and in fighting terrorism and maintaining peace and order.

Without a doubt, these are challenges which we must address to enable the country to move ahead quickly.What remains is for us to join together in doing what needs to be done.

‘Let’s focus on doing what is right, and results will follow’

2007-03-28T23:19:00.000+08:00

New seed-starting mix available in market

2007-03-27T18:51:00.000+08:00

A new seed-starting mix food for flower and vegetable seeds is now available in the market, particularly in the garden section of Ace Hardware.

This is the Homegrown Seed Starting Mix from GreenHearts The Garden Shop.

It is an all-natural soilless mix formulated specifically for growing plants from seeds right at home.

It is an all-natural soilless mix made up of varying proportions of organic matter and other naturally-occurring materials that have been pre-measured to give the perfect levels of aeration, drainage and moisture retention for maximum seed germination.

It has a mild formulation that gives the delicate seeds the right blend of nutrients and a healthy environment as compared to plain garden soil that may just do more harm than good to seeds.

Since Homegrown is ready-to-use, it makes sowing as easy as 1-2-3.

All you need are a packet of seeds, a seedling tray or small pots, and Homegrown soilless potting mix in which to sow the seeds and you are all set!

The sooner you start, the sooner you get to enjoy a more colorful garden.

And the best part is, growing your own flowering delights can easily be worked into your hectic schedule.

Here are some tips to help you start your very own easy-does-it Garden of Eden.

GO FOR ANNUALS.

Annuals are flowers that grow and bloom quickly from seed, and then die within a relatively short period of time.

Examples are petunias, cosmos, four o’clock, zinnias, vincas, celosias, marigold, mums and several others.

Some people prefer just growing perennials – such as bougainvilleas and roses – plants that live on for years and years.

But annuals provide a unique kind of reward for busy gardeners because of the plants’ quick life cycles.

Fulfillment comes quick and easy as these flowers provide dazzling burst of color in their short but colorful lives.

After they mature, the dropped seeds can actually return as new plants.

GROWING SEEDS IN CONTAINERS.

Although you can choose to just scatter the seeds straight into the ground, sowing seeds in pots and trays gives the seeds a safe and healthy start.

Instead of taking risks by exposing them to the harsh environment, away from strong wind and rain, until they are ready enough to be placed in the garden.

Where you plant the seeds is highly important.

Growing them on a warm surface helps speed up germination.

Your pot or growing container also matters.

It needs proper holes for good drainage.

Too much moisture can make the seed rot.

USE SOILLESS SEED STARTING MIX.

Ordinary garden soil is generally made up of loam, clay, silt, stones, organic matter, a multitude of organisms (both good and bad), soil-borne diseases, weed seeds, and even bits of trash.

Seeds and seedlings are very delicate and need a more hygienic environment in which to get started.

For best results, sow your seeds in Homegrown Soilless Seed Starting Mix.

Homegrown is an all-natural soilless mix made up mainly of well aged coconut dust and the right amounts of other organic matter to give your seedlings the healthiest start in life.

It is available nationwide at the lawn and garden section of Ace Hardware.

SOWING BASICS.

Seeds will not germinate if they are buried too deeply.

Generally, seeds should just be covered to twice their diameter; fine seeds should not be buried at all but just pressed firmly into the seed starting mix.

Some seeds also require light to germinate while others prefer total darkness.

That’s why it is important to read directions found on the seed packet.

It is also advisable to cover the pots or trays with a clear plastic sheet or wet newspaper to conserve moisture.

As long as the potting mix is well moistened upon sowing, you will not need to water until the seedlings emerge.

The quality of the plant also lies with the freshness of the seed.

The longer it takes for seeds to be planted, the greater the risk of growing low quality plants, or worse, they may not germinate at all.

If you are not planting your seeds right away, store them in an airtight container in the vegetable crisper of the refrigerator.

AFTER GERMINATION.

After seedlings appear, remove the clear plastic or newspaper cover and transfer the container to a cooler environment where the sunlight is not too harsh.

This is the tender stage when many gardeners lose their seedlings to damping off which is the sudden collapse of seedlings; also the time when home gardeners most appreciate the use of a high quality soilless potting mix that is free from soil-borne diseases and pests.

Growing plants that you have sown from seeds yourself gives a unique sense of fulfillment.

And knowing the basics in sowing, with patience and determination, you are on your way to finding the great gardener in you.

The Growing Overseas Factor in Philippine Electoral Politics

2007-03-26T16:48:00.000+08:00

With national elections just a few months away, election fever is heating up in the Philippines.

Two major parties are the Administration's Team Unity and the Estrada-backed Genuine Opposition have pulled away from the pack and both groups seem poised for the "slugfest" that is elections "Pinoy Style."

For the average "Pinoy on the street" however, elections are still somewhat of an afterthought.

The daily struggle to put food on the table relegates campaigning politicians and their radio and TV ads to the background.

And luckily, for Metro Manilans, there is now a law prohibiting the posting of election material except in specially designated areas.

This has kept Manila from the blight of years past when campaign posters were plastered everywhere.

In our forum discussions however, election fever is in full swing.

Overseas Filipinos seem to be placing greater importance on this election than their counterparts in the Philippines.

A group of concerned PNL readers have even banded together to form FILGLOBAL and cobble together a slate of twelve chosen Senatorial bets--then disseminate the information via the web.

Can overseas Pinoys make a difference? With the increasing number of dual citizens eligible to vote, the political clout of overseas Filipinos is on the uptrend.

And who knows, they may be the driving force that finally tips the balance in favor of qualified candidates getting elected into office, and not the entertainers and media personalities that voters in the Philippines seem to prefer.

Church day!.

2007-03-25T17:28:00.000+08:00

Good afternoon!

Today I go to church and I'm so exited..

Hope we all have a great day!.

Thank you!.

March

2007-03-24T13:40:00.000+08:00

March 17, 1521

Magellan accidentally arrived in the archipelago that would be known as the Philippines.

Holy Week

Holy week is commemorated either in March or April.

It is also called the Lenten Season, a time for spiritual cleansing and a time to commemorate Christ's death on the cross. Holy Week begins on Palm Sunday.

The peak of the occasion are Maundy Thursday, Good Friday, Black Saturday, and Easter Sunday.

Once,there was a pencil maker. When he was packi...

2007-03-23T09:58:00.000+08:00

Once,there was a pencil maker.

When he was packing them in their boxes,the pencil maker told the pencils five important lessons.

1st,everything you do will always leave a mark.

2nd,you can always correct the mistakes you make.

3rd,what is important is what is inside you.

4th,in life you will undergo painful sharpenings which will make you a better pencil.

And the most important is,to be the best pencil you can be,you must allow yourself to be held and guided by the hand that holds you....GOD

Geography

2007-03-22T09:42:00.000+08:00

The Philippine archipelago lies off the southeastern coast of the Asia mainland.

It consists of 7,107 islands and islets, making it one of the largest archipelagos in the world.

The islands are grouped into three sections: Luzon, Visayas, and Mindanao.

There are eleven main islands: Luzon, Mindanao, Samar, Negros, Palawan, Panay, Mindoro, Leyte, Cebu, Bohol and Masbate.

For administrative purposes, the country is divided into 15 regions (listed below).

The regions are further divided into provinces, the provinces into cities and municipalities, and these into barangays (the smallest political unit).

REGION
I – Ilocos
II – Cagayan Valley
III – Central Luzon
IV – Southern Tagolog
V – Bicol
VI – Western Visayas
VII – Central Visayas
VIII – Eastern Visayas
IX – Western Mindanao
X – Northern Mindanao
XI – Southern Mindanao
XII – Central Mindanao
National Capital Region (NCR)
Cordillera Administrative Region
Autonomous Region of Muslim Mindanao.

The Philippines has a varied topography.

It has a coastline of 18,411 kilometers.

Many islands have extensive coral reefs that attract tourists from everywhere.

The larger islands have rugged, mountainous interiors, mostly ranges running north to south.

Its four major lowland areas – central plain of Luzon, Cagayan valley, Agusan and Cotabato river valley – contrast sharply with the high mountain areas of Central and Eastern Cordillera and Zambales.

Three major mountain ranges traverse the country to form natural barriers: the Sierra Madre, the Cordillera, and Caraballo ranges.

There are about 221 volcanoes, 21 of which are active.

The Philippines lies on the volatile Pacific “Ring of Fire,” and most of the highest mountains are volcanic in origin.

It had its share of natural disasters in recent years, but two major eruptions Mt. Pinatubo and Mayon Volcano caught the attention of sightseers.

Mt. Pinatubo in the central plain of Northern Luzon erupted on June 12, 1991, after 600 years of silence, rendering almost 50,000 people homeless.

The great rivers of volcanic lava devastated the once fertile central plains of Luzon.

Mayon Volcano, called “the perfect cone,” almost lost its mystique when it erupted on February 2, 1993, spewing volcanic debris several miles into the air and destroying fertile farmlands around the city of Legaspi.

The Philippines is no stranger to earthquakes.

The worst earthquake in the recent past occurred in 1990.

With an intensity of 7.7 on the Richter scale, it damaged thousands of buildings and resulted in widespread casualties.

Fortunately, the damaged areas of Baguio, Cabanatuan and Pangasinan have recovered.

Manila had minimal damage, making it the refuge of those who were left homeless by the earthquake.

Population growth and Philippine development

2007-03-21T12:56:00.000+08:00

Rapid growth in the Philippine population poses a challenge to economic development but, at the same time, is a source of new opportunities.

The population of the Philippines has increased fourfold in the last 50 years, from about 20 million in 1050 to today’s almost 80 million Filipinos.

Although the country’s population growth rate declined from 3% in the 1960s to 2.3% in the 1990s, it is still considered high compared to neighbors like Thailand (at 1.4%) and Indonesia (at 1.6%). Over 1.8 million Filipinos are born yearly.

As a consequence, there are over 28 million more people today in the Philippines than in South Korea and 15 million more than in Thailand, when in 1965 these countries had about the same population size.

How many islands are there?

2007-03-19T09:41:00.000+08:00

There are 7,107 islands that make up the country of the Philippines.

Amazingly though, there are only a few hundred of these islands that have people living on them.

Some people say that the number of islands in the Philippines depends-- it depends on if you count at high tide or low tide!

オンライン英会話JEP：Assistant Weblog～Ily

Economy of the Philippines

ECONOMY

Merchandise trade

Good Aternoon!.Its nice to be back after a long ti...

Philippines calls in troops to stop poll violence

Hilot: The Art and Science of Touch

Philippines’ growth, real or imagined?

Health and hospital execs to promote medical tourism

Global Change

This company specializes in credit-challenged debtors

Spring Oil posts third

Security up as Holy Week exodus begins

OFW, hot money inflows fuel surge in liquidity

Japanese business sentiment in RP, Asean region improves

Global Filipinos,Beyond Remittances:Meddling or Caring

‘Let’s focus on doing what is right, and results will follow’

‘Let’s focus on doing what is right, and results will follow’

New seed-starting mix available in market

The Growing Overseas Factor in Philippine Electoral Politics

Church day!.

March

Once,there was a pencil maker. When he was packi...

Geography

Population growth and Philippine development

How many islands are there?

オンライン英会話JEP：Assistant　Weblog～Ily