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| Philippine News |
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| Philippines stocks reach 4,500 level, near record high |
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MANILA, Philippines—Most local stocks extended their winning streak for a fifth session on Thursday, lifting the main stock barometer past the 4,500-level and closer to its all-time high record.
The main-share Philippine Stock Exchange gained another 31.14 points, or 0.69 percent, to finish at 4,518.91.
Local equities benefited from the so-called “January” effect, referring to the seasonally robust investor appetite at the start of every year.
The local index closed at its best level at around 4,550 on Aug. 1, 2011, although it hit an intra-day high of 4,563.65 the following day.
On Thursday, all counters were up but the day’s upswing boosted the property and services sub-indices the most, as they respectively surged by 1.5 percent and 1.77 percent.
Value turnover was higher at P6.23 billion compared with the previous day’s P5.83 billion, suggesting a growing conviction in the market. But the run-up in the last five days has also sent some blue chips to “overbought” levels, making them ripe for profit-taking.
Manny Cruz, chief strategist at stock brokerage AsiaSec Equities, said the uptrend was supported by improved foreign investor appetite as well as anticipation of better corporate earnings this 2012 and of a potential upgrade in Philippine sovereign credit rating. The warm market reception to the government’s fresh global bond offering, Cruz said, was another proof of such favorable investor sentiment.
But in the near term, Cruz said investors would likely try to lock in gains at the 4,550 to 4,580 index range.
“We’re at overbought levels, so we’re expecting a retracement to 4,400,” Cruz said. “Then we believe that there’s another upswing, which should push the market above the 4,600 within the month. I think people will be anticipating better prospects ahead of the Chinese New Year holiday (January 23),” he said.
There were 115 advancers that overshadowed 64 decliners while 29 stocks were unchanged on Thursday.
Investors continued to load up on selective blue chips while pocketing gains from others, resulting in a mixed trade. The index stocks that contributed to the day’s gains were DMCI, PLDT, ALI, AC, Metrobank, AP, Megaworld, URC and ICTSI. FLI also traded higher.
On the other hand, the PSEi’s rise for the day was tempered by the decline of BDO, MPI, AGI, SMIC, Meralco and EDC. Security Bank and Lepanto A (open only to local investors) also traded in the red.
Overnight, the Dow Jones Industrial Index was up by 21.04 points or 0.17 percent to 12,428.42. --Doris C. Dumlao (Inquirer.net, 05 January 2012)
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| PH raises $1.5B from 2037 global bonds |
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MANILA - The Philippines said on Thursday it raised $1.5 billion from the sale of 2037 global bonds in an offering that was about eight times oversubscribed, underscoring investors' appetite for emerging market assets.
In a statement issued early Thursday, the Department of Finance said the bonds were sold with a 5% yield.
"We are very pleased to have once again been able to extend the Republic’s maturity profile while at the same time achieving the lowest yield for a new 25-year benchmark US Dollar Global offering by the Philippines," Finance Secretary Cesar Purisima said.
Treasurer of the Philippines Roberto Tan said the "positive investor reception for this transaction allowed us to achieve our funding objectives in support of our fiscal program."
This is the third time in 5 years the government has sold 25-year dollar bonds, its longest-term overseas debt.
With the bond sale, the government has raised two-thirds of its total 2012 foreign debt requirement of $2.25 billion.
The offer attracted orders of $12.5 billion, Rosalia de Leon, head of the Finance department's international finance group, told Reuters in a phone interview.
The government said the biggest demand - 35% - came from the U.S., followed by 25% from the Philippines, 25% from the rest of Asia and 15% from Europe.
Earlier, Reuters reported the offer was "heavily oversubscribed," attracting orders of $7.7 billion.
The government mandated Deutsche Bank AG, Citigroup Inc, Credit Suisse Group AG, Goldman Sachs Group Inc, HSBC, JP Morgan Chase, Standard Chartered Plc and UBS AG as joint bookrunners for the bond offer. -- Reuters, ANC (ABS-CBN News Online, 05 January 2012)
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| PNP eyes electronic arrest warrant system |
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MANILA, Philippines—For policemen, serving a warrant on a wanted person anywhere in the country may soon be just a matter of clicking on a link in the Internet.
The Philippine National Police is set to implement this year an “e-warrant” or electronic warrant system, in which officers may access a database of court-issued warrants of arrest from any point in the country to check if a suspicious individual is hiding from the law.
“Meaning, if you are in Mindanao and you think there is a warrant of arrest for a suspect [in a crime] that occurred in Luzon, you may access it even if you are far from the place of incident,” PNP Director General Nicanor A. Bartolome said.
On top of the e-warrant system, the PNP is planning to put up an electronic “rogues gallery” database, or “e-rogue,” in which the photo gallery of suspects shall be posted for easy reference by investigators, Bartolome added.
The e-warrant and e-rogue systems are part of efforts by the PNP to modernize itself and to use technology to improve crime solution and teach new skills to some 140,000 cops.
Already, the PNP has in place the “e-blotter,” or electronic blotter system, in which entries in the blotter in police stations are encoded for easy transmission to headquarters and other units.
“We will specialize in crime investigation,” Bartolome said in a briefing at Camp Crame on Monday. “We will enhance the skills of our personnel and we will develop their competencies,” he told reporters.
Under the e-warrant system, PNP spokesperson Chief Superintendent Agrimero Cruz Jr. said, police officers who confirm the existence of an arrest warrant for a person may just print it out and serve it on the subject.
“It will make it simpler for the police to catch wanted criminals this way,” he said.
Bartolome said crime volume fell by 23.36 percent from January to December 15, 2011 compared to the same period the year before.
Crimes against persons, such as murder, homicide and rape, decreased by 30.42 percent, while crimes against property, such as theft and robbery, fell by 17.88 percent, the PNP chief said.
On the other hand, crime solution efficiency, or the percentage of cases in which at least one suspect is arrested, rose by 12.45 percent compared to 2010, Bartolome said.
--DJ Yap (Inquirer.net, 03 January 2012)
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| What government should prioritize in 2012 |
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The New Year gives individuals and corporations an auspicious time to start anew and be filled with that spirit to make some serious and needed changes.
In an informal survey of some of the country’s leading corporate leaders, Business Monday asked what actions they want the government to prioritize this year and what they plan to do in their companies to make them stronger and more profitable.
Destination of choice
I want government to position the Philippines as a destination of choice, enable more flights to enter and improve the airport facilities of Manila and other key tourism areas in the Philippines. We must change perception of the Philippines to one that’s positive. As for our company, change means expansion of our services and projects and help position Manila as an international city.
Jose E.B. Antonio
Chair, Century Properties Group Inc.
Examine airports
Being in travel and tourism, what I want government to do very quickly is to examine all of our airports and improve them because there is congestion. We need to cope with increasing air traffic. I believe that the tourism sector, in good times and in bad, will continue to grow. For my company, the main thing I want to do in 2012 is to instill deeper to the team this sense of not going through every day with a business-as-usual attitude.
Manny Osmeña
Chair, Movenpick Hotel Cebu, Manny O Wines
Fasttrack IPP projects
For 2012, we expect the government to fast track all PPP projects to boost economic activity in the country. Government spending must increase as this will benefit not only large corporations but also the small and medium enterprises that are often the beneficiaries of the corporations outsourcing. For UCPB, we hope the ownership issue will be resolved in 2012 as this will enable the bank to increase its capital, attract strategic partners and realize its full potential as a universal bank.
Jerry Kilayko
President and CEO, UCPB
Eliminate corruption
There are many things in government that should change. If our reference is what will best address the long term welfare of the poor, I think the priorities should be lessening, if not totally eliminating, corruption. The second is to ensure peace and order. Both of these are necessary conditions to encourage investments; investments will then result in employment. Corruption includes nepotism, padrinos in government posts and tolerating illegal activities. Lessening corruption levels the playing field and encourages those with competitive talents to pursue their calling.
For EastWest, I wish our desired cultural norms will be deeply embedded in our organizational life faster. The bank has grown very fast the last few years and as a result, we have many new people coming in. It cannot be helped that they bring with them different points of views and methodologies.
While we have programs to engender a culture that embraces change, encourages incessant questioning of existing ways of doing things, celebrates learning, and values people as the differentiating asset of the company, it will take time before this is firmly cemented as a way of life in an organization.
Tony C. Moncupa, Jr.
President and Chief Executive Officer
EastWest Bank
Accelerate PPP products
I would want the current administration to accelerate implementation of public-private partnership projects to spur economic growth, and significantly improve the global competitiveness of the country.
For Isla Lipana, 2012 will mean investing in more intensive training of our people in specialized practice areas.
Judith V. Lopez Chair and Senior Partner Isla Lipana & Co.
Think big, act bigger
There are still some elements of government that have not signed on to the “Tuwid na Daan” directive of PNoy. This has to change ASAP.
Within BPAP (Business Processing Association of the Philippines), each member of our team needs to be able to “think big, act bigger.” We can’t let ourselves get stuck in our personal comfort zones. We have to realize that if we don’t constantly push ourselves and test our limits, our accomplishments will stay small. In our fast-growing industry, staying small and comfortable quickly translates into insignificance. I want to change the limits of the team’s imagination.
Gillian Virata, Senior Executive Director, Business Processing Association of the Philippines (BPAP)
Embrace entrepreneurial spirit
Although there are some government agencies that are very good and efficient, the majority still have a lot red tape that makes it difficult to do business in the country. Sweeping reforms should be taken to simplify processes, cut red tape and promote ease of doing business.
At DTSI, we need to embrace the entrepreneurial spirit, passion and mindset. This will enable us to embrace things as our own, achieve higher output and productivity, and contribute to national development.
Miguel Garcia
President and CEO, DTSI Group
Leverage communications
Government needs to leverage information and communications technology to improve governance and service delivery while ensuring social equality and transparency.
In the company, I’d like to enhance innovation within our team and equip each individual to provide exceptional service and be more responsive to business demands and opportunities.
Jan Biezepol, Managing Director, Fujitsu Enterprise Solutions
Fix infrastructure for economy
Speaking personally, I would like government to begin the large infrastructure projects that help to revitalize the economy.
At MasterCard, we’re looking to bring payments industry innovations that strengthen consumer confidence in electronic payments.
Poch Villa-real, Senior Country Manager, MasterCard International Philippines Inc.
Execute priorities
The government is on the right track and should focus on executing its priorities across government departments and key stakeholders. For company growth, we need access to financing and better distribution infrastructure.
Jaime Ayala CEO, Hybrid Social Solutions
Spend more
The government should spend more in 2012. We also need more optimism and positivity in our economy. This is our time.
As for Belle, we are gearing up to build the country’s most fabulous casino and entertainment complex.
Willy Ocier
vice chair, Belle Corp.
Make bureaucracy more IT friendly
I am in agreement with PNoy’s national government strategy and direction, in terms of how it impacts the Philippine IT industry in general, and our software industry in particular. To that, I say “even more of what we have seen in 2011”. However, I think there is still much to be done in terms of making our local government bureaucracies more IT business-friendly and less graft-prone.
For Gurango Software, we expect to complete our transformation from a software services company to a software products company in 2012. This means that a majority of our revenues will come from the sale of licenses instead of labor, which allows for faster growth and greater profitability. This is also my advocacy for 2012: helping other Philippine software companies undergo the same transformation.
Joey Gurango, Managing Director Gurango Software
-- Tina Arceo-Dumlao (Inquirer.net, 01 January 2012)
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| PH’s most anticipated projects of 2012 |
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With 2012 just one more day away, perhaps, it’s time to raise our champagne glasses and offer a toast to all the wonderful new structures as well as residential developments we will be anticipating in the coming months.
These are no ordinary projects as they are set to become iconic if not meaningful for a country that seeks solutions to sustainability challenges as well as international acclamation.
While there are several grand projects that will see completion or turnover in 2012, these four are perhaps worthy of our attention.
1 Philippines’ most eco-responsible high-rise building.
The bamboo-and-flowing-water-inspired Zuellig building located at the corner of Makati Avenue and Paseo de Roxas in Makati City is scheduled to be completed in 2011.
Within this 33-story building lie several innovative technologies that enabled it to become the country’s first to be precertified as Gold level under the Leadership for Energy and Environmental Design Core and Shell (LEED-CS) program of the United States Green Building Council.
Upon completion, the Zuellig building is even aiming for the LEED Platinum certification, the highest level granted by the USGBC.
Compared to other conventional Prime and Grade A buildings in the country, tenants of the Zuellig building are set to enjoy cost savings of at least 15 percent in energy consumption or a minimum of 4.3-million kilowatt hours saved per year.
Productivity of employees working in “green” buildings may increase by up to 18 percent, considering that in the case of Zuellig, 90 percent of the tenants’ interior spaces will use natural daylight and that the structure will employ carbon dioxide monitoring system (pump fresh, conditioned air whenever necessary) that could ensure occupants’ health and safety.
As a result, tenants are set to gain from a boost in their image and branding, which may even contribute to stronger business in the long run.
2 The country’s tallest building.
Towering near the intersection of Makati Avenue and Kalayaan Avenue is the newly crowned tallest building in the Philippines.
Launched in 2007, The Gramercy Residences at Century City rises 73 stories or 302 meters beating the previous title holder, the 52-story- and 259-meter Philippine Bank of Communications Tower on Ayala Avenue.
The Gramercy Residences at Century City, which is the first residential tower to rise at the 3.4-hectare mixed-use Century City, is set to be completed and turned over to its residents in 2012.
John Victor Antonio, COO of the building’s developer, Century Properties, is specially proud of the structure considering that the topping off of Gramercy Residences at Century City early in January 2011 coincided with the company’s 25th anniversary.
Aside from the prestige that the building offers its future residents, Gramercy Residences at Century City will feature three floors of hyper-amenities called the Skypark.
Located 36 stories above the ground and traversing the entire width of the building, the breathtaking Skypark will feature waterfalls, infinity pools, a designer restaurant, health club and more.
3 Philippines’ latest international caliber indoor arena.
With a full house capacity of 20,000, the SM Mall of Asia Arena is 5,000 more than the current benchmark in sports and concert venues, the Smart Araneta Coliseum.
Set to open in May 2012, the SM MOA Arena is set to become the new home of the University Athletics Association of the Philippines and the National Collegiate Athletic Association.
The MOA Arena in Pasay City features world-class standards of operations and premium facilities—considering that it even plans to invite teams of the National Basketball Association to hold its games here—including seats that feature cup holders and those that could be retracted.
The MOA Arena also offers 40-room corporate suites that could accommodate 20 persons (each room has its own mini-bar, couches, restroom and viewing area).
It is connected to a 2,000-capacity car park.
4 The country’s most exclusive yet affordable enclave.
For a minimum of just P2.3 million and with payment terms of up to 48 months, The Grove by Rockwell is perhaps the best offer that emerging professionals, newlyweds and starting families may be able to enjoy as they aspire for the most luxurious and most exclusive life.
Located on E. Rodriguez Jr. Avenue (C5) near the corner of Ortigas avenue in Pasig City, The Grove by Rockwell is the first foray in the upper middle-income market of high-end real estate developer Rockwell Land Corp.
Early buyers must be celebrating as Rockwell Land is set to turn over the two of the six 24-story towers in June 2012. These two towers will feature units made up of a mix of garden units, flats, lofts and Z-lofts.
Designed to bring the Rockwell lifestyle to Ortigas, The Grove by Rockwell is designed for those who demand luxury and comfort.
Seventy-five percent of 5.4 hectare property was devoted to open space and landscaped greenery. Rockwell Land Corp. even partnered with Dallas-based architect Don Wilder and world-class landscape artist Karl Princic to create secluded pocket gardens, winding trails and landscapes that will give its residents the feeling of being far away from the city (despite the fact that the place is just right across shopping mecca, the Tiendesitas. --Charles E. Buban
(Inquirer.net, 31 December 2011)
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| ‘BPO still Cebu’s growth driver’ |
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The business process outsourcing (BPO) industry will continue to propel Cebu’s economy as the province’s major economic driver, industry leaders said. The BPO sector is also poised to grow even bigger in the coming years, they said.
“In 2011, BPO companies accounted for 40 percent of positions posted in a jobs listing website. The expansion of BPO operations led to the rise in the demand for office spaces. This year, the region saw property developers putting additional investments in the leasing business,” said Cebu Property Ventures Development Corp. (CPVDC) president Francis Monera.
The industry recorded a 20 percent annual growth rate.
CPVDC is the developer of Cebu IT Park. It currently has eight building under construction.
Workforce
Monera said BPO companies are continually drawn to Cebu City with its workforce and healthy fiscal environment. He said Cebu is supported by nine large universities that turn out many workers for IT and BPO companies.
“The BPO industry in Cebu is fast-growing because IT/BPO companies in the US have found a viable destination in Asia where they can relocate after the 2008 global economic crash. The industry will continue to offer a lot of opportunities and will become Cebu’s main driver of economic growth,” said Cebu Chamber of Commerce and Industry (CCCI) chairman for information and communications technology (ICT) Jerry Rapes.
This year, global outsourcing firm Aegis People Support unveiled its own Aegis Tower Cebu at the Cebu IT Park. The company said their decision to build in Cebu is a sign of their “commitment to and confidence in the country’s booming BPO industry and Cebu’s workforce.”
Monera said they are anticipating an increase of 20 percent in the current 50,000 workforce with the completion of buildings within Cebu Park District.
CPVDC is looking at an estimated 11,000 additional seats with eBlock 2, Skyrise 4 and the Aegis Tower Cebu.
Stream Global, a major outsourcing company, was reported to be hiring between 60 and 70 employees weekly. Convergys, on the other hand, is also expanding with its new office in Cebu, according to Monera.
Some of the firms that expanded in Cebu this year include HP, Fluor Daniels, Dell, Convergys and JP Morgan & Chase.
Non-voice services
“Wide-spread employment is a by-product of these developments with a 35 percent increase in working population for both parks – majority in the BPO industry. (It strengthens) our bid of making Cebu the BPO capital in the Philippines next to Metro Manila,” Monera said.
Rapes, meanwhile, said Cebu is not only well-positioned for voice services but also for knowledge process outsourcing (KPO), information technology outsourcing and non-voice services.
He said it is just a matter of preparing Cebu “to get to a higher level,” particularly in terms of supplying the industry with skilled, competent and highly qualified workforce.
“There is not always enough people,” said Rapes, the president of information technology outsourcing (ITO) company Exist Global.
He said companies now move out from major call center hubs like Metro Manila and open offices in “next wave cities.”
Monera, who sits as the chairman of the board for Cebu Educational Development Foundation for Information Technology (Cedf-it) said the private sector, academe and local government have collaborated to improve the skills of potential workers for increased manpower pool via proficiency/certification, retraining and jobs-skills matching programs. The stakeholders are also intensifying programs that support infrastructure and tourism service to strengthen the investment climate in Cebu.
Scalability
Monera emphasized the need for talent scalability, not only in terms of available quantity of the workforce but also in training to match the skills required by companies.
Cedf-it announced last October it will get part of the P500-million stimulus fund committed by the Aquino government to facilitate “near-hire” training programs of IT-BPO companies. It said about P5 million worth of scholarships from the Technical Education and Skills Development Authority (Tesda) will be used to conduct “near-hire” trainings for 1,000 prospective IT-BPO employees here.
Monera also cited Cebu’s “big opportunity” in higher level services or KPO. He said although, manpower requirement for this category may not be as high as voice-related jobs, these are high-value services that mean higher average compensation for the Filipino talent.
While there is continued growth ahead in the BPO industry, Rapes said “being complacent” may threaten BPOs’ rosy outlook for 2012.
“We need to create more people for the industry rather than compete with each other. We need to produce more skilled workforce for a bigger ecosystem,” he said.
Rapes also announced that the outsourcing industry will soon start the second phase of the Cebu IT/BPO roadmap so it could further maximize the potential of IT/BPO services.
What to do
He said the study will “drill down what Cebu needs to get to higher level.”
“We have to know where we are going and what to do next now that we know we have the capabilities to do more KPO,” Rapes said.
He said that while waiting for the second phase of the study, entrepreneurs should start looking at opportunities in offering KPO services.
He said India has higher revenues than the Philippines because they do difficult services. “But if the Philippines will capitalize on its KPO potential and do its homework, the IT/BPO revenues will grow eventually,” Rapes said.
The Business Process Association of the Philippines targets to grow the industry by $25 billion in revenues in 2016 and increase IT/BPO employment to more than one million.
A bill seeking to create a Department of ICT was also filed as a support to the growing industry. --Katlene Cacho (Sun Star Cebu Online, 29 December 2011)
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| BPO still tops employment opportunities |
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The Labor and Employment’s Bureau of Local Employment (BLE) reported that employment opportunities in the business process outsourcing (BPO) sector continue to top the list of vacancies posted by private sector employers in the Phil-JobNet system.
Opportunities in the so-called ‘sunshine industry’, particularly for call center service workers, rose consistently from the first to the third quarters of 2011, sustaining their number one position among all other Phil-JobNet vacancies and affirming our status as the BPO hub of the world, BLE’s factsheet showed.
BPO job vacancies reached 11,237 in the first quarter; 13,454 in the second quarter; and 15,130 in the third quarter of 2011. “BPO companies continue to expand their business operations here. From 2010 to the past three quarters of 2011, call center service workers hold the number one position in the vacancy list,” added BLE director Ma. Criselda Sy.
Customer service assistant vacancies held the number two slot, followed by domestic workers, carpenters and drivers. On the supply side, the position of production/factory worker topped the list of positions sought by Phil-JobNet registrants followed by nurses, service crew, sales clerks and cashiers.
“These jobs posted by local employers complement the employment strength of the BPO sector and increase the potential for matching appropriately skilled labor for other industries,” she said.
Phil-JobNet is the official job portal of the government, which aims to address the labor mismatch problem by promoting better coordination between employers, academia and the government through strengthening both public and private sector labor market information and exchange. --CGC
(Sun Star Bacolod Online, 28 December 2011)
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| Unemployment rate in Davao hits 3-year low |
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The unemployment rate in Davao Regions hit a three-year low, according to data gathered from the regional office of the Department of Labor and Employment (Dole).
Dole Davao regional director Joffrey Suyao said the region's unemployment rate as of July 2011 is pegged at 5.8 percent. This is lower compared to 6.1 percent unemployment rate in 2010. The unemployment rate in 2009 was registered at 5.9 percent.
The region has an employment rate of 94.2 percent as compared to national average of 92.9 percent.
"Although the growth is small, but this is something we can build upon," Suyao said as he expressed optimism of brighter economy in 2012.
Suyao attributed the employment growth to the construction boom and the entry of more investments in the region.
He also said peace and order remain as the main attraction of the region, particularly in Davao City.
According to the National Statistics Coordination Board, the jobless rate in the country for 2011 (January to October) hit around 6.4 percent.
This is the lowest jobless rate since 2007 when unemployment rate registered 6.3 percent.
The employment growth translated to 2.1 million jobs created from January to October of this year. --Philippine Information Agency
(Sun Star Davao Online, 22 December 2011)
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| PH is 6th in spending time on social media |
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Filipinos spent an average of 8.7 hours visiting social networking sites in October 2011, landing the Philippines on the sixth spot in the list of social networking countries as reported by research firm comScore.
There’s caveat though – the statistics only include Web traffic from homes and workplaces and exclude visitation from public computers such as Internet cafes or access from mobile phones or other mobile devices. As validated by most reports, a big number of Filipinos still access the Internet through cybercafes.
The rankings had a worldwide average of 5.7 hours.
“The emergence and widespread global adoption of social networks has vastly influenced human interaction on an individual, community and larger societal level, and underscores the convergence of the online and offline worlds,” said Linda Boland Abraham, comScore CMO and EVP of global development.
“Regardless of geography, social networks are weaving themselves ever more intricately into the fabric of the digital experience, opening a world of new opportunity for business and technology.”
Key findings highlighted in the report included:
• Social networking is the most popular online activity worldwide: Social networking accounted for nearly 1 in every 5 minutes spent online globally in October 2011, ranking as the most engaging online activity worldwide. Social networking sites now reach 82 percent of the world’s Internet population age 15 and older that accessed the Internet from a home or work computer, representing 1.2 billion users around the globe.
• The importance of Facebook cannot be overstated: In October, Facebook reached more than half (55 percent) of the world’s global audience and accounted for 1 in every 7 minutes spent online around the world and 3 in every 4 social networking minutes.
• Microblogging has emerged as a disruptive new force in social networking: In recent years, microblogging has taken hold as a popular social networking activity on a global scale. In October, Twitter reached 1 in 10 Internet users worldwide, growing 59 percent in the past year. Other popular microblogging destinations seeing rapid adoption include Chinese site Sina Weibo, with its audience growing 181 percent in the past year to rank as the tenth largest social network in October. Tumblr, which ranked twelfth worldwide in audience size, grew 172 percent in the past year.
• It’s not just young people using social networking anymore –it’s all age groups: Although young users age 15-24 still represent the most highly-engaged segment of social networkers, with an average of 8 hours per visitor spent in the category in October, social networking is catching on among older age segments across the globe. In fact, people age 55 and older represented the fastest-growing age segment in global social networking usage, with the penetration of social networks in the segment increasing nearly 10 percentage points since July 2010 to 80 percent in October 2011.
• Mobile devices are fueling the social addiction: In the US, 64 percent of smartphone users accessed social networking sites at least once in October 2011, with 2 in 5 smartphone owners connecting via social networking nearly every day. In the EU5, 45 percent of smartphone owners accessed social networks on their mobile device during the month, with nearly 1 in 4 doing so on a near daily basis.
The widespread adoption of social networking highlighted the global appeal of the online activity. Of the 43 markets individually reported by comScore, 41 markets saw at least 85 percent of their respective online populations visit social networking sites in October 2011.
Analysis of the most highly engaged global social networking markets revealed that Israel led all countries with visitors spending an average of more than 11 hours on social networking sites during the month.
Argentina ranked second at 10.7 hours, followed by Russia (10.4 hours) and Turkey (10.2 hours). The United States, at 6.9 hours per person, did not even rank within the top ten countries for social networking engagement. (Newsbytes Philippines, 22 December 2011)
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| Poll council starts technology screening process |
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The Comelec Advisory Council (CAC) started last week the evaluation process of the various election technologies with an Automated Election System (AES) technology exposition held at the lobby of the Information and Communications Technology Office (ICTO) in Diliman, Quezon City.
The two-day event showcased various election technology providers, their AES technologies, and equipment to the CAC as part of the council’s mandate to select the most suitable technology for the 2013 Election.
Among the technology providers present at the demo were Avante, Hart InterCivic and ES&S from the US, DVS Korea, Spanish company Indra, Software Improvements Pty Ltd from Australia, and UK headquartered Smartmatic, providers of PCOS machines used in the 2010 elections.
Also on hand were representatives from the Comelec CCS (consolidation canvassing system) who gave a presentation to the CAC on the Comelec’S current CCS.
CAC chair and ICTO executive director Louis Casambre said the AES technologies that were presented in the event were very mature and have proven track records in elections held in other countries.
“The council will be very thorough in evaluating the merits and limitations of each type of technology to ensure that the technology that we will recommend is the most appropriate for the upcoming election,” Casambre said.
The CAC provided the technology providers with a list of questions and requirements for their various systems to accomplish as part of the screening process.
The council will again convene after the holidays to deliberate which technology it will recommend to the Comelec and submit its recommendation by the second week of January 2012.
RA 9369 tasks the CAC to recommend to the Comelec “the most appropriate, secure, applicable and cost-effective technology to be applied in the Automation Election System (AES)” for the 2013 elections. (Newsbytes Philippines, 21 December 2011)
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| BPAP names new chief after nine-month search |
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The Business Processing Association of the Philippines (BPAP), the country’s top trade group for the multi-billion outsourcing industry, has named BPO veteran Benedict Hernandez as its new president and CEO.
A press statement issued by BPAP’s Board of Trustees said Hernandez, who is currently the BPO service delivery operations head of Accenture Philippines, will start on his new job on January 2, 2012.
The appointment of Hernandez comes nine months after the trade group’s first chief, Oscar Sanez, left the post in March to take a job at beverage giant San Miguel Corporation.
A widely respected BPO executive, Hernandez is also the incumbent president of the Contact Center Association of the Philippines (CCAP).
As BPAP head honcho, Hernandez will also oversee the staging the annual International Outsourcing Summit (IOS) which has replaced the government-led e-Services Exhibit as the country’s top outsourcing event.
In an interview during a recent BPAP event, Hernandez said BPAP and CCAP are currently exploring the possibility of merging the IOS and the CCAP Expo that the latter group holds every year to create a unified event for the booming outsourcing sector.
As president and CEO, Hernandez will be answerable to BPAP’s Board of Trustees, which is currently chaired by Fred Ayala — his former boss at eTelecare.
Apart from eTelecare where he served as vice president, Hernandez has held top positions in the customer care divisions of Smart Communications and Nextel Communications.
He is also a 2006 TOYM (Ten Outstanding Young Men) Awardee and graduated from the University of the Philippines with a bachelor’s degree in psychology (magna cum laude).
“We consider Benedict to be a tremendous asset to our industry and believe that, as BPAP CEO, he will be well placed to help drive the industry toward our targets for Road Map 2016 with our partner associations in animation, contact centers, game development, health care, IT, and our partners in the regions,” BPAP said.
“An experienced, home-grown IT-BPO leader of his caliber is precisely what is needed to meet the challenges of global leadership. We are very happy to welcome him to BPAP,” it added. (Newsbytes Philippines, 20 December 2011)
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| Traffic Navigator named IT product of ’11 |
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MANILA, Philippines—For giving frustrated motorists their best weapon against heavy traffic, the Metro Manila Development Authority (MMDA) Traffic Navigator (Tnav) was named “Information Technology (IT) Product of the Year” at the annual CyberPress IT Awards.
The TNAV, which was conceptualized and developed jointly with InterAksyon.com, the online news and public affairs arm of broadcast network TV5, bested other nominees such as the Apple iPad 2, Epson’s new Ink Tank Printers, Smart Communications’ Net Phone and “Ultrabooks” powered by Intel chipsets.
“The Tnav has quickly become an indispensable tool for motorists, saving thousands of man-hours, preventing wasted fuel and empowering our constituents with valuable information that they use to beat traffic,” said MMDA traffic discipline director Yves Gonzales.
The Tnav, which users can access on several online platforms, shows real-time visual representation of the traffic situation at major thoroughfares in Metro Manila.
Traffic data is available 24 hours a day, seven days a week. Main roads monitored by the service are EDSA, C5, Roxas Boulevard, Aurora Boulevard, Quezon Avenue, Commonwealth Avenue, España, Ortigas Avenue, Marcos Highway and South Luzon Expressway.
The service uses data culled from the MMDA’s monitoring operations. The free service can be accessed online at mmdatraffic.interaksyon.com. Mobile applications are also available for Android OS and Apple iPhone, iPod and iPad users.
MMDA showed that as of Saturday, the Apple iOS application had been downloaded 73,752 times since it was launched on September 17. The Android OS application had 9,587 downloads to its name less than a month after it was launched on November 24.
Gonzales, a professional application developer before joining the MMDA, said the agency and partner InterAksyon.com planned to introduce more features to the Tnav next year. (Inquirer.net, 19 December 2011)
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| IMF expects Philippine banks to remain stable in 2012 |
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The International Monetary Fund (IMF) said the Philippine banking sector was expected to remain stable throughout 2012 even under a scenario where the debt crisis in the eurozone persisted and dragged economies outside the region.
Vivek Arora, the multilateral agency’s mission chief for the Philippines, has echoed projections that banks in the Philippines were likely to continue operating smoothly despite uncertainties in the global front given their sufficient capitalization and liquidity.
“The indicators for the country’s banking sector remain quite strong, and capitalization is high,” Arora told reporters last week following an evaluation on the country’s economy conducted by an IMF team that he headed.
There is a consensus among economists that the debt woes in the eurozone will take longer than initially expected to be resolved and that the crisis may have some more spill-over effects to other economies in 2012.
In this case, banks are not expected to be immune given the high correlation of their financial stability with that of an economy.
For instance, the crisis may continue dragging down demand of the eurozone for goods, thus dampening export earnings of exporting countries like the Philippines. Consequently, investment initiatives and demand for loans from export-oriented firms may shrink and their ability to service existing debts may be affected, thus affecting incomes of banks.
In the case of the Philippine banking sector, however, the IMF said adequate capitalization gave banks the ability to absorb losses from the risks brought by the eurozone debt crisis’ adverse impact on exporters.
The IMF sees banks in the Philippines weathering the impact of the crisis in the West through servicing of higher demand for loans and other financial services from firms outside the export sector.
Arora said the worst-case scenario wherein banks would significantly reduce lending to businesses because of the debt crisis in the eurozone was not likely to happen in the Philippines, at least in 2012.
Meantime, Arora said there was no pressure at the moment for the Bangko Sentral ng Pilipinas to adjust its key policy rates.
He said the policy rates, which influence commercial interest rates, were still quite low in the Philippines and this should support efforts to boost economic growth. Meantime, Arora said there was no pressure at the moment for the Bangko Sentral ng Pilipinas to adjust its key policy rates.
He said the policy rates, which influence commercial interest rates, were still quite low in the Philippines and this should support efforts to boost economic growth. -- Michelle Remo (Inquirer.net 19 December 2011)
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| New upgrade on credit rating, banking sector in Philippines buoys hope for higher economic growth |
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MANILA -- A new upgrade announced by Standard & Poor's Rating Services and Moody's Investors Service on the credit rating and the banking sector in the Philippines has elated the country's economic managers and buoyed hopes that the anemic growth in the Philippine economy could now be finally over.
On Friday, S&P revised its outlook on the Philippines from stable to positive, an indication that the country could have another upgrade within the short term.
In a statement, Agost Benard, S&P credit analyst, said that the rating agency has raised the country's outlook to positive "to reflect our assessment that the Philippines' external vulnerability has diminished."
At present, the Philippines' credit rating is still at "BB" or two notches below investment grade.
"We expect further rating improvements to be most likely driven by improvements in fiscal and debt credit metrics," Benard said. The S&P's upgrade on the country's credit outlook is already the fifth made by credit rating firm since the Aquino administration took office in June 2010.
Moody's Investors Service has also maintained a stable outlook for the Philippine banking sector as domestic operating conditions are expected to remain positive for business growth despite global economic uncertainties.
"The outlook reflects our analysis that consistently improving asset quality, good liquidity and the favorable capital profiles of Philippine banks would act as a cushion in a significantly adverse operating environment," Simon Chen, a Moody's analyst said.
A report on the outlook for the Philippine banking system that Chen authored said that overseas remittances and fiscal spending will help sustain the economic growth in the country amid difficult global economic conditions.
Moody's has given banks in the Philippines an average rating of Ba2, also two notches below investment grade.
In a statement, Finance Secretary Cesar Purisima said the Aquino administration has welcomed the S&P credit outlook upgrade, but believes that the country is still "underrated by credit rating agencies."
"Clearly, this adjustment from S&P reflects the Philippines' strength amid the present global uncertainties," Purisima said, adding that the administration hopes that this outlook improvement will translate to a much-deserved credit rating upgrade "sooner rather than later."
Purisima said the government is aiming for investment grade rating before the end of President Aquino's term in 2016.
Governor Amando Tetangco Jr. of the Bangko Sentral ng Pilipinas, the country's central bank, also welcomed the S&P upgrade, saying that it "brings us a step closer to what the market has been pricing our external debt at as evidenced by our credit default swaps."
Also in a statement, Tetangco said that S&P's recognition of the country's diminished external vulnerability because of its strong external liquidity position is well-placed. "We remain hopeful that our desired credit rating upgrade to investment grade is forthcoming," he added.
Moody's Investors Service expects the Philippines to grow by a faster rate of 5 percent next year, aided partly by sustained rise in remittances and growth in investments in the business process outsourcing (BPO) industry.
The credit rating firm's growth forecast for the Philippines for next year is higher than its projection of 4.5 percent for this year.
"We expect remittances from overseas workers and exports of services, such as those by back office business processing industry, to maintain their solid levels of growth," Moody's said.
Remittances make up about 10 percent of the country's economy, while investments in BPOs account for about 30 percent of the country's total export earnings from both goods and services.
Moody's said remittances and BPO investments would not only help drive consumption but it would also boost the country's total reserves of foreign exchange, or the gross international reserves (GIR), which currently stands at a record high of about 76 billion U.S. dollars.
In the first three quarters of this year, the Philippine economy grew by a mere 3.6 percent.
This development prompted government officials to announce that the official target of between 4.5 and 5.5 percent could no longer be attained.
The weak performance of the economy in the first three quarters of 2011 was brought on by a decline in public spending and a drop in global demand for the country's exports.
But Budget Secretary Florencio Abad has announced that the administration would be spending 4.5 billion pesos (102 million U. S. dollars) more for public infrastructure this month, particularly for the construction and rehabilitation of national roads and the installation of road safety devices across the country.
The much-awaited public-private partnership (PPP) program has also finally taken off after the Ayala Corp., a giant local conglomerate, has bagged the 2-billion pesos (45.25 million U.S. dollars) Daang Hari-South Luzon Expressway link road, the very first infrastructure-building project auctioned by the Aquino administration.-- Alito Malinao (Xinhua.net, 18 December 2011)
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| Government optimistic to meet growth goals |
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The Philippines’ chief economist has remained optimistic that government infrastructure funds to build roads, irrigation systems, and schools will help meet the five percent growth goal this year.
While buffeted by headwinds from the European debt crisis and the fragile recovery of trading partners, Socioeconomic Planning Secretary Cayetano Paderanga said the government’s catch-up spending plan is expected lift the economy in the fourth quarter.
"For this year, growth will more or less be midpoint, but we’re hoping that we’ll hit the upper end of the assumption, given that government consumption has already caught to some extent," he told reporters late Thursday.
As of December 6, data from the Department of Budget and Management (DBM) show that it has already disbursed P61.28 billion, or 85 percent of the P72.11-billion Disbursement Acceleration Plan, which are economic stimulus funds, to various agencies.
Paderanga said that in addition to the already funded public works projects, the National Economic Development Authority (Neda) has already invited bidders to participate in big ticket public-private partnership projects.
At least one of those projects will be awarded before the end of the year after the Ayala Corp. on Thursday gained the government’s nod to build, operate, and maintain the four-kilometer Daang Hari-South Luzon Expressway (SLEx) Link Road.
The four-lane highway aims to connect Bacoor town in Cavite to SLEx near the Susana Heights interchange in Muntinlupa City.
Moreover, Paderanga said the plan to build a new airport in Bohol and the expansion of the airport in Puerto Princesa in Palawan is on track with pre-construction spadework being done by the Price Waterhouse Cooper, a global financial investment advising company.
Despite these developments, University of the Philippines economist Benjamin Diokno remained skeptical of the government’s moves to further boost the economy.
“I do not expect the Philippine economy to grow beyond four percent in the fourth quarter,” he said in an email.
Negative developments abroad and massive state under-spending pushed the government to abandon its lofty 7-8 percent growth target in 2011 in favor of a more conservative 4.5-5.5 percent forecast.
The economy grew only by 3.6 percent in the first three quarters of the year, lower than the 8.2 percent growth in the same period in 2010, an election year.
Paderanga said factors that will buoy the economy by early 2012 are holiday season spending, increased business and consumer confidence, and relatively stable macro-economy, among others. --Virgil Lopez
(Sun Star Manila Online, 18 December 2011)
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| S&P raises PHL outlook to positive from stable |
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Standard & Poor’s Rating Services on Friday said it expects “further rating improvements” for the Philippine economy after it gave the country a “positive” outlook.
The global credit rating agency said it raised the outlook to “positive” from “stable” because the country’s “external vulnerability has diminished” owing to improving net debt indicators, rising international reserves, and expanding import cover.
“We expect further rating improvements to be most likely driven by improvements in fiscal and debt credit metrics," S&P credit analyst Agost Benard said.
"The ratings could be raised on material progress in achieving a sustainable structural revenue improvement or further strengthening of the public balance sheet, yielding reduced fiscal vulnerability," Benard added.
BSP Gov. Amando Tetangco Jr. welcomed the upward revision of the country’s outlook and anticipated a long-sought investment grade on its sovereign ratings and long-term debt papers.
"We remain hopeful that our desired credit rating upgrade to investment grade is forthcoming," Tetangco said.
"The recognition of our diminished external vulnerability because of our strong external liquidity position is well-placed," Tetangco added.
However, the S&P also warned that a deterioration in external liquidity or “weakened commitment to fiscal consolidation” could tilt the Philippines’ debt trajectory upward.
S&P said the erosion of liquidity could make the ratings “stabilize at the current level or come under downward pressure.” (GMA News Online, 16 December 2011)
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| GDP to grow 5 pct in 2011 |
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MANILA, Philippines -- The Philippine government expects the country's GDP to expand by five percent this year on back of increased public spending, a senior economic manager said today.
This, despite global uncertainties and the lower than expected growth in the past three quarters. But National Economic and Development Authority (NEDA) Director General Cayetano W. Paderanga Jr. said, "there are good reasons to be optimistic in the sense that government consumption has really caught up to some extent."
Paderanga said at a news briefing that the government is " restructuring" the P50 billion ($1.13 billion) savings in 2011 which is expected to support the economy in the fourth quarter. This amount does not include the entire P72 billion ($1.63 billion) worth of stimulus package.
Paderanga said growth this year was largely affected by the government's underspending which is estimated to have cost the country's GDP around 0.25 to 0.5 percent in 2011.
Lower government spending pushed the country's construction numbers to plunge to historical lows. In the third quarter alone, the construction sector fell 12.2 percent.
Paderanga also expects the Philippine economy to grow five to six percent next year, especially when more Public Private Partnerships (PPPs) infrastructure projects will be launched.
The government has already held a bidding for the P1.96 billion ($44.43 million) worth of Daang Hari-South Luzon Expressway project, the first PPP project to be bidded out from the original list of ten projects identified by the government in October 2010.
Paderanga said after this project, it is likely that the 10,000 classroom project of the Department of Education will be bidded out. The project is estimated to cost around $7 billion ($158. 69 million). -- Xinhua (PhilStar.com, 15 December 2011)
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| PHL unemployment rate declines to 6.4% in Oct. |
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The number of jobless Filipinos declined in October, the National Statistics Office reported on Thursday.
According to the Labor Force Survey, the unemployment rate slipped 6.4 percent in October from 7.1 percent in the same 2010 period.
"NCR (National Capital Region) posted the highest unemployment rate at 10.4 percent while Autonomous Region in Muslim Mindanao posted the lowest at 2.3 percent," the NSO said.
More males were unemployed, comprising 62.6 percent of the 2.7 million jobless Filipinos, NSO records showed.
Underemployed persons, or those seeking for additional work hours to their present job or for an additional job or a new job with longer working hours, were estimated at 7.4 million, putting the underemployment rate at 19.1 percent from 19.6 percent.
The services sector was the country's top employer, accounting for 52.1 percent of the employed population, followed by the agriculture sector (33.4 percent) and the industry sector (14.5 percent). (GMA News Online, 15 December 2011)
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| House passes measure creating ICT department |
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The House of Representatives passed on third reading House Bill 4667, creating the Department of Information and Communications Technology (DICT), to develop and implement policies and government programs that would boost and improve the country’s competitiveness in the IT field.
Taguig 2nd District Representative Freddie R. Tiñga, chairman of the House ICT Committee, said the approval of the bill would solve the country’s need for a solid agency that would be focused more on the development of IT and modern communications facilities.
“ICT needs to have its own governing body to set new directions. We have to keep pace with the emergence of new technologies rapidly changing the world’s economic landscape,” Tiñga said.
The agency is expected to provide strategic, reliable and cost-efficient citizen-centric ICT infrastructure, systems and resources.
It will also seek to accelerate the convergence of ICT facilities such as the development of networks, ensure access and high-speed connectivity at fair and reasonable costs, including in areas not adequately served by the private sectors.
“It’s not just improving our competitiveness ranking. We need to recognize that ICT is an important catalyst for economic growth and job creation, a pre-requisite to parity in education, a necessity for good governance, a channel for a free and empowered media, and a means for poverty alleviation,” Tiñga said. (Inquirer.net, 13 December 2011)
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| Philippines seen to remain more resilient than peers in Asia |
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MANILA, Philippines—British banking giant Standard Chartered sees the Philippines staying “more resilient” than other Asian economies in 2012 on the back of strong domestic demand and investment.
In its global outlook titled “Global Focus—2012 Fragile West, resilient East,” a chapter on the Philippines said Stanchart was expecting the domestic economy to grow by 3.8 percent for the full year and by a modest 3.2 percent next year, as the Western economic outlook deteriorates further.
The country’s gross domestic product is seen growing at a faster clip of 5.3 percent in 2013 and 5 percent in 2014.
The easing of inflation next year is also seen giving the Bangko Sentral ng Pilipinas more room to cut rates if external headwinds intensify. But Stanchart said that given that the current policy rate of 4.5 percent was already low, it was not expecting more than 50 basis points of interest rate cuts next year.
“The main pillars of support for the economy in 2012 will be private consumption and government spending and investment. Consumption will continue to be supported by solid inward remittances from overseas workers. Government spending/investment is expected to gather pace, after falling short of expectations in 2011, as public-private partnership (PPP) infrastructure projects get underway in 2012,” the research said.
The bank said there were likewise growing downside risks, both onshore and offshore.
“The export sector is unlikely to recover until at least the second half of 2012 as external demand takes time to resume; manufacturers are also recovering only slowly from the supply-chain impact of the Japanese earthquake,” the research said.
Stanchart expects exports—especially of electronics, which accounted for 60.4 percent of the 2010 total receipts.
The research noted the launching of the governments P72-billion fiscal stimulus plan in October to contain the negative impact of the escalating economic crisis in the West.
“We expect some tail effects to carry over into 2012, helping to stimulate economic growth,” it added.
“Inflationary pressure is likely to ease in 2012 as the impact of higher oil and food prices—the two main drivers of inflation in 2011—dissipate further, partly on the back of weakening global demand,” it said.
On the fiscal side, Stanchart said the government debt burden should continue to decline gradually following the government’s adoption of a zero-based budgeting method to manage expenditure. It noted that the country’s public debt ratio was low among Asian peers, at 44 percent of GDP.
“The government needs to stay on the fiscal consolidation path by improving the efficiency of tax collection and revenue generation, and by better utilizing government spending to fuel economic growth,” it said. -- Doris Dumlao (Inquirer.net, 13 December 2011)
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| ICT Davao expects to grow work force to 16,000 by 2016 |
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DAVAO CITY -- The information and communications (ICT)technology sector in this city is expected to reach its goal of hitting 16,000 workers in the next five years as the city received P20 million from the P400 million released by the government to train potential work force in the industry.
Lizabel G. Holganza, president of the Information and Communications Technology Association of Davao, said that the money, through the Technical Education and Skills Development Authority, would be used to train applicants who are pre-screened by the association.
Ms. Holganza said that with the fund, about 2,000 applicants for the different subsectors of the industry will be trained by schools that are accredited by the organization.
“We will slowly fill the vacancies when the trainees eventually finish their training,” she said.
Among the beneficiaries are students who want to become contact center agents, software developers, digital animators and transcriptionists.
This will allow the industry to grow so it can hit the target of at least 16,000 workers by 2016 from about 12,000 at present. “Our estimate is to hire at least 1,000 new employees every year. With the funding, it will now be easier for companies to get the best employees who pass the training,” she added.
In the contact center industry, she said, the companies have been doing their own selection of possible recruits.
Nanette O. del Monte, human resources head of the Cyber City Teleservices Philippines Inc., said contact center companies in the city need thousands of employees to fill vacancies.
Those who could not be immediately hired because they need to improve their English proficiency will have to undergo the trainings so that by the end of the six-month period, they will be eventually hired, Ms. del Monte said.
Dubbed the Industry-based Training for Work Scholarship Program, the project will allow the association to pre-screen the trainees to ensure that 70% of the graduates will be employed. Ms. Holganza said the companies who would hire these graduates would refund the government for the money spent for them while training. -- Carmelito Q. Francisco (Business World Online, 08 December 2011)
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| Gov’t, TESDA push for higher technology and skills training for Filipino workforce |
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BAGUIO CITY -- The government, through the Technical Education and Skills Development Authority (TESDA), is working hard for the development of the 21st century skilled Filipino workforce to cope with wider opportunities and an increasing demand for quality, competitive and flexible workers in the global market.
Undersecretary Milagros Dawa-Hernandez, TESDA Deputy Director General for Sectoral Technical Vocational Education and Training (TVET) bared this in an interview here.
According to Hernandez, TESDA has been getting the needed support from President Benigno Aquino III. Just for this year, the President provided P1.8 billion fund for TESDA’s scholarship program.
“The President wants us, the government, to put more attention in providing our workforce the needed skills and technology that are needed by the emerging industries especially the Business Process Outsourcing and other export oriented industries such as electronics, semi-conductor and agriculture,” Hernandez said.
“The President put this as one of his priority as it will provide the Filipino workforce especially the poor to have the necessary skills and training that would give them better employment opportunities,” he added.
Hernandez also proudly reported that TESDA over the last five years has already reached out to 15 million young people, through their network of about 5,000 Technical-Vocational Institutions (TVIs) all over the country. Of the number, about 6M have already been given National Certification (NC).
Hernandez also called on all TESDA ‘Specialistas’ (TESDA Nationally Certified workers) who have no work yet to report to any TESDA provincial office nearest to them so they can be provided with starter kits or tools and be grouped along with others with similar skills so TESDA can network them for an entrepreneurial work or contract to the community or local government units or local business/industries.
According to Hernandez, this new program called TESDA Specialista Technopreneurship Program (TSTP) will be officially launched nationwide this December 14.
Under TESDA’s Medium Term TESD Development Agenda (2011-2016), Hernandez stressed that they will be working on to look beyond the technology and skills development needs of the young people to be employed, but also to the needs of the underemployed and employed Filipino so that their productivity will also increase.
Included in their agenda is the development, promotion and advocacy for more programs in higher technologies and provide incentives to TVIs that shall invest on such programs, in which they will also direct their Training for Work Scholarship Program (TWSP) to such higher technologies that would serve as an incentive to the TVIs.*(JDP/LD-PIA CAR)
--Lito Dar (Philippine Information Agency, 07 December 2011) |
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| Philippine rank in world’s most corrupt improves |
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The Philippines’ ranking among the world’s most corrupt countries has slightly improved.
From 134th last year, it ranked 129th this year out of 183 most corrupt countries surveyed in the 2011 Corruption Perception Index (CPI) released by Transparency International (TI)-Philippines on Thursday.
For 2011, the Philippines scores 2.6, which was a bit higher than last year’s 2.4, using data from 12 surveys that look at factors such as enforcement of anti-corruption laws, access to information and conflicts of interests.
The survey, which was conducted from December 2009 to September 2011, covers two administrations — the latter part of the Arroyo administration and the early part of the Aquino administration.
Lawyer Araceli Villanueva of Transparency International-Philippines attributed this slight improvement to President Benigno Aquino 3rd’s campaign against corruption.
“If you go by the period of survey, it should be attributed to [the Aquino administration] because of the length of time,” she said during an interview.
TI-Philippines President Georgina Encanto said that the current political environment in the country provides a great opportunity to achieve major strides in battling corruption.
The CPI score indicates the perceived level of public sector corruption on a scale of 0 -10, where 0 means that a country is perceived as highly corrupt and 10 means that a country is perceived as very clean.
This is the Philippines’ highest ranking since 2007 when it ranked 131st with a score of 2.5.
In 2010 and 2009, the country score 2.4, showing virtually no improvement in the corruption index.
“Some say it is not insignificant but for us there is a movement, and the movement is not going down, there is still movement… this is a good indication that the government is doing something to fight corruption,” Villanueva said.
TI-Philippines Chairman Dolores Espanol said that “the only way to improve the CPI score is for the general public to see results and experience clean governance in their everyday lives.”
Transparency International said that corruption continues to plague too many countries around the world, adding that some governments fail to protect citizens from corruption.
“This year we have seen corruption on protesters’ banners be they rich or poor. Whether in a Europe hit by debt crisis or an Arab world starting a new political era, leaders must heed the demands for better government,” said Huguette Labelle, the chairman of Transparency International.
The most corrupt countries, according to the survey, were North Korea and Somalia, which both ranked 182nd while New Zealand was judged as the least corrupt, topping the list with a score of 9.5.
Denmark and Finland shared the second spot with both posting 9.4 and Sweden came in third with 9.3, followed by Singapore in fifth place with 9.2. (The Manila Times Online, 02 December 2011)
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| PH imports climbed 11.7% in September |
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Philippine imports climbed 11.7 percent year-on-year in September—the fastest growth in five months, according to government data released Friday.
According to the National Statistics Office, the country’s imports for September 2011 reached an estimated $5.134 billion—up from the $4.597 billion seen in the same month last year.
Taking into account the $3.9 billion in exports reported for the month of September, there was a trade deficit of $1.24 billion.
September’s figures brought the deficit for the first nine months of the year to $8.36 billion, the NSO data showed.
Economist Cid L. Terosa of the University of Asia and the Pacific said the figures showed further recovery since May, but the data were still expectedly tame given the economic turmoil overseas.
Looking ahead, “the Christmas season and related spending are the only positive events that I see,” Terosa said when asked if a surge in imports could be expected in coming months, both for local demand and for exports.
Month-on-month, imports improved 4.3 percent from $4.925 billion in August, the NSO reported.
Electronics, semiconductors down
Payments for electronics, which topped imports, fell 11.6 percent to $1.443 billion in September from the $1.632 billion posted last year.
Semiconductors, which dominated electronics imports, contracted 16.9 percent to $1.092 billion in September 2011 from $1.314 billion a year ago.
The annual growth rate for September was the highest since May, the NSO said. Imports posted double-digit annual growth from January to April, but dipped to 1.6 percent in May. Imports started to recover in June at 6.6 percent.
Apart from electronics, the Philippines’ top imports for September included fuels ($941.17 million, up 27 percent year-on-year), transport equipment ($399.81 million, up 34.8 percent), industrial machinery and equipment ($255.47 mil li on, up 18 percent), metal scraps ($160.27 million, up 0.6 percent), chemicals ($150.45 million, up 35.7 percent), plastics ($140.41 million, up 2.7 percent), iron and steel ($121.07 million, up 2.4 percent), cereals ($120.60 million, up 2.3 percent), and telecommunication equipment ($104.50 million, up 2 percent).
Japan was the top source of shipments for September, accounting for $627.43 million worth of imports—an increase of 12.8 percent from the $556.04 million reported in the same month last year.
Exports to Japan amounted to $685.16 million, yielding a two-way trade value of $1.313 billion and a trade surplus of $57.73 million for the Philippines.
Other top import sources were the United States, China, Singapore, Saudi Arabia, Thailand, South Korea and Taiwan. With a report from Reuters -- Riza T. Olchondra (Inquirer.net, 25 November 2011) |
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NetSuite bullish on Philippine business
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MANILA, Philippines — NetSuite Inc., the industry's leading provider of cloud-based financials and Enterprise Resource Planning (ERP) solutions and soon to be the largest software company in the country, expects to haul in as much as $300-million revenues in 2012 from its 2011 target of $235 million.
The company, the fastest growing financial management vendor in the past three years, has 415 employees in its Philippine headquarters in Makati, its largest location outside the USA.
Next year, "We will be the Philippines’ largest software company, with 700 employees," announced NetSuite President and Chief Executive Zach Nelson.
Currently, over 10,000 companies and subsidiaries in more than 100 countries depend on NetSuite to run complex, mission-critical business processes globally in the cloud.
NetSuite plans to infuse a substantial investment for its local expansion to meet its growing business. He expects revenues to increase from 2011’s target of $235 million to about $300 million.
NetSuite has been operating in the country for 4 years now. It has become the leading provider of enterprise-class cloud ERP solutions for large enterprises and mid-sized organizations since it was founded 13 years ago.
NetSuite chose the Philippines as its major service hub for its business friendly infrastructure, top-notch education system, same accounting standards as the USA as well as its large pool of CPAs and well-spoken, service-driven employees, aside from the fact that many global companies are headquartered in Manila.
Recently, NetSuite partnered with two more Information Technology (IT) firms serving global enterprises based in the Philippines.
Both GlobalOne, a global solution provider, and Pan Pacific Computer Center (PPCC), an IT services firm with over 41 years of experience, have joined the NetSuite Solution Provider Program to support NetSuite’s indirect local sales strategy.
GlobalOne's worldwide services center in Makati is expected to become a new hub of international development and integration work for NetSuite clients. -- Emmie Abadilla (Manila Bulletin Online, 24 November 2011) |
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| Pangasinan showcases IT breakthroughs in ICT gab |
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| LINGAYEN, Philippines — Pangasinenses will have a chance to know more about the latest breakthroughs in information technology, the newest gadgets in the market, information technology (IT) solutions and processes by participating in the Pangasinan Digital Life ICT Congress 2011.
The five-day congress, which starts today at the Pangasinan Training and Development Center here, is another project of Gov. Amado Espino Jr. in a bid to position Pangasinan as the first digital province in northern Luzon.
Vanjie Padilla, social media strategist and congress moderator, said the province is expecting a huge number of participants, especially students and young professionals.
Padilla said the project will also serve as a groundbreaking for the province’s digital strategies to commence in 2012 such as provision of Wi-Fi (wireless fidelity) to all towns, tele-medicine or online consultation, and online emergency response system.
The launching of the Libreng Konsultasyong Legal sa Barangay Project will serve as one of the highlights of the opening program, with the Region 1 director of the Public Attorney’s Office presenting the project synopsis.
Various topics will be tackled per day. Day 1 (today), prepared for high school students, will deal on “technology and the government,” while Day 2 will cater to college students enrolled in medical courses.
Day 3 is concentrated on “technology and the media,” while Day 4, dubbed as the “Geek Girls and Guys Bootcamp,” is for Web enthusiasts — programmers, developers, designers or anybody who is connected to IT.
Lastly, Day 5 will be exclusively for “technopreneurs” or the business sector with business and marketing through social media as main topics.
Speakers include Carlo Ople, social media manager of TV 5; JV Rufino, head of Inquirer Digital; Coy Caballes, social media manager of Globe Telecom; Vince Golangco, Video Online publisher; Col. Gilbert Sosa, a CIDG officer; Leo Querubin, CEO of Media Gateway; Sonnie Santos, cyber wellness advocate; Gary Viray, search engine master; Janet Toral, technopreneur; Jam Mayer, virtual events Maven; Jinky Umali, Web developer and designer; Azrael Coladilla, blogger; Noemi Dado, emerging media blogger and citizen journalist; and Roy Aguila, Multiply online merchant.
IT companies and exhibitors will display their IT wares, products and services during the event.
Interested parties may register online through the governor’s Facebook page, facebook.com/governorespino, and simply click Get Ticket. Registration fee is only P50.
Various contests will be held wherein awarding of winners will be conducted on the last day (Nov. 26). (PhilStar.com, 21 November 2011)
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| SMEs undergo orientation on technology’s upgrading program |
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PAGADIAN CITY –- To provide information to the Small and Medium Enterprises (SMEs) on the program of the Department of Science and Technology (DOST), an orientation on the upgrading program of technology was conducted by the DOST9 on Friday at Bay View Plaza Hotel here.
DOST9 asst. regional director Engr. Mahmud Kingking said the proram was designed by the agency to improve SMEs’ operational productivity and making science and technology as their ways of developing their their business.
Kingking said the agency is providing them technical support and funding assistance saying that they are some of their prospective beneficiaries on the agency’s programs.
“We are providing them funding assistance for the acquisition of processing facilities and technical consultancy to include the training or the workers as well as improving their facilities,” Kingking added.
He said they will teach SMEs on how to manage business and help them operate on their technologies by tapping the services of experts from the Research Development Institute of the agency.
Kingking said DOST has two programs, namely: the local grants-in-aid for the cooperatives, associations, and local government units and assistance for SMEs.
The SMEs’ assistance has no interest but payable within in 3 years so that the money that they borrowed can also be used for others, Kingking explained.
Kingking said DOST has provided already assistance to different SMEs in region 9 where their business have improved. “In their business they earned profit and at the same time, they have provided employment to unemployed persons,” Kingking added.
The SMEs who have not availed assistance can avail next year, Kingking assured.
The said activity is scheduled to be held next week the cities of Dipolog and Zamboanga and in Ipil, Zamboanga Sibugay. -- Gideon Corgue (Philippine Information Agency, 21 November 2011) |
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| Analyst notes rising status of PH in KPO |
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After dislodging India as the world’s call center capital, the Philippines is now slowly making a name in the higher level KPO (knowledge process outsourcing) industry, according to an IT analyst.
Research firm Ovum, in a report issued on Monday, said that while India is still at the forefront of the development of the KPO industry, a number of other viable KPO sourcing hubs, notably the Philippines, have emerged in the Asia-Pacific region.
The technology analyst said the Philippines, along with China and Sri Lanka, may not yet topple India’s dominant position in the market, but they have enabled many vendors to pursue a multi-shore strategy.
Ed Thomas, Ovum analyst and author of the report, said: “Being able to deliver services from multiple locations means providers can offer existing clients greater flexibility and minimize the risks associated with having all their operations in one facility, while at the same time tapping into fresh labor pools”.
The KPO industry is maturing and the range of services being provided has expanded as the market has developed, Ovum said.
From its initial beginnings in research and analytics, the definition of KPO currently includes a variety of services, such as legal process outsourcing and clinical trial management, among others.
On the latter topic, Thomas said: “A major challenge facing life sciences companies is the growing cost of R&D and, as a result, a growing number of pharma companies are turning to outsourcing and offshoring as ways of reducing these costs. China is an attractive location for companies that run and manage all phases of the clinical trial process, as it offers a significant pool of potential patients in an important emerging market.”
Along with China, Ovum said the Philippines is also becoming an increasingly important player in the KPO market.
“It has started to carve out a niche for itself in a number of key areas, including healthcare outsourcing (providing industry-specific services to hospitals and healthcare providers). This market is expected to grow significantly during the next few years, with a notable increase in demand coming from the US as a result of the recent reforms in healthcare regulations,” it noted.
Sri Lanka, meanwhile, has focused on developing skills around specific service lines. For example, the country has a significant number of qualified accountants, capable of providing the kind of high-end complex tasks associated with service areas such as equity and credit research, Ovum said.
“The recent emergence of countries such as China, the Philippines and Sri Lanka as viable locations for KPO delivery has been a positive development for vendors, as it has enabled them to begin offering a blend of offshore and nearshore delivery while also giving them access to sizable and previously untapped talent pools,” Ovum concluded. (Newsbytes Philippines, 07 November 2011) |
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| IT firm to brave market with P99M IPO in Nov. |
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MANILA, Philippines — The Securities and Exchange Commission has approved the registration of the shares of technology firm Touch Solutions Inc. to pave the way for its planned P99 million initial public offering.
Touch Solutions is aiming to have its shares listed at the Second Board of the Philippine Stock Exchange. It has tapped Abacus Capital & Investment Corporation to be the issue manager and underwriter.
SEC documents show, Touch Solutions is planning to offer 22 million new common shares at a price of up to P4.50 per share in the domestic market. The maximum offer price represents a price to earnings ratio of 13.94 times 2012 earnings.
The offer price will be set on November 9, 2011 while the period is slated for November 21 to November 28, 2011. It is expected that the offer shares will be listed at the PSE on December 9, 2011.
The offer shares represent 39.5 percent of the firm’s 5.75 million outstanding shares after the IPO.
The firm is currently being controlled by Anson Uy who owns shares equivalent to 55.68 percent of its outstanding capital. This will be diluted to 33.71 percent of Touch Solutions’ post-IPO capital.
Proceeds of the offering will be used by Touch Solutions in the fourth quarter of 2011 to fund its regional expansion program (up to P67.53 million), research and development (P10 million), the construction of an educational facility (P9 million), and the purchase of affiliate Sagesoft Solutions Inc. shares (P1.76 million).
The balance of the proceeds amounting to up to P2.06 million will be used by Touch Solutions for its working capital in the first quarter of 2012.
Touch Solutions was organized in November 2001 with the main objective of providing end-to-end information and communications technology solutions and services to its customers.
In January 2002, Touch Solutions started commercial operations offering and distributing accounting software in the country but, by 2003, it started to focus on open source and open systems technologies and opted to spin off its accounting software packages to Sagesoft in 2004. -- James Loyola (Manila Bulletin Online, 17 October 2011) |
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| DOLE-BPO and info communication technology forge pact on good practices |
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CLARK FREEPORT ZONE Pampanga -- Business Process Outsourcing (BPO) and Information Communication Technology (ICT) groups recently forged a pact on Voluntary Code of Good Practices with the Department of Labor and Employment Regional Office 3 (DOLE3).
This is DOLE's holistic approach in fostering and maintaining industrial peace among companies in Central Luzon as it continues to advocate for good practices like, voluntary compliance, to labor standards and occupational safety and health standards.
The pact is between the Tripartite Council in BPO and ICT or most commonly known as TC-BPO/ICT in this freeport.
According to DOLE3 assistant regional director Geraldine Panlilio, the said code is a collaborative effort developed in various stages stemmed from the deliberations of the members of the board of trustees of the TC-BPO/ICT wherein the Voluntary Code of Good Practices serves as a “living document” which will continually be updated to be relevant to the changes of times.
She added that the objective of the code is to promote continuous growth and development of BPOs and ICTs through pro-active strategies in meeting global challenges by sharing, benchmarking, policy consultations, training programs, and social dialogues.
Also, it aims to promote best occupational safety, security, health, and environmental practice; stabilize and self-regulate labor management relations in the industry; and strengthen DOLE's collaboration and partnership with different government agencies for unified strategies, approaches, and programs in advancement of BPO-ICTs among others.
Members under this code are tasked to observe monitoring mechanisms through self-regulation, best practice/s recognition, and benchmarking.
Present during the MOA signing were head of DOLE Pampanga Ma. Rima Hernandez, Clark Development Corporation represented by Ervin Joy C. Rivera, Prothrowbacks represented by Harvey Harvison, Sheryl Dungca of Cybercity Teleservices, and Panlilio. The signing was witnessed by 26 members from the BPO and ICT industries in the said freeport.
"This is just one of the many partnerships that the DOLE is currently undertaking to effectively ensure that industrial peace and harmonious relationships prevail between labor and management in companies in the region," said DOLE regional director Leopoldo De Jesus. (WLB/JGB PIA3/DOLE3) (Philippine Information Agency, 09 October 2011) |
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| Pinoy IT firm delivers ‘milestone’ booking site for Aussie non-profits |
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Homegrown software developer Pointwest Technologies recently delivered to Australian start-up Bookwana Pty Ltd a “milestone” online event booking system through TryBooking, which reaches out to the largely untapped market of small to mid-size organizations in Australia and gives them an easier and cheaper alternative.
Essentially similar to other hosted services, TryBooking targets non-profits such as schools and social institutions where it is not cost-effective to use hosted software when posting one-off type or low-budget events.
The launch of TryBooking in July 2008 is considered by Grant Dunoon, CEO of Bookwana Pty Ltd, as the “first milestone in our quest to offer something new that can deliver change in the marketplace and benefit the community and groups.”
As of July 2011, TryBooking had more than 2500 clients actively using the system, a diverse community that includes schools across all levels, theaters, local councils, NGOs, and sports events organizers.
One critical benchmark for project success was allowing enough flexibility for future releases while complying with stringent e-commerce security standards, since ticket buyers paid for bookings online through credit cards.
Pointwest’s agility in responding to large transaction demands of the e-commerce project, backed by 24/7 uptime, and the full support of management, is reflective of the dynamism of Philippine IT outsourcing firms.
According to the Philippine Software Industry Association website, the Philippines boasts of a collaborative ecosystem of small to medium-sized software companies with solid track record of delivering high value software services.
The client lauded the Philippine firm’s cost-effective approach while delivering quality software when developers and in-house specialists who oversaw design moved into the project on demand. Traditionally, only the largest-sized firms could insist on this.
The similarity in time zones between the Philippines and Australia was also considered an advantage.
As a result, Pointwest currently continues to provide maintenance and production services for TryBooking.
As with any development project, the team encountered challenges in time to market, but Practice Manager Rene Canlas shared that they combined company expertise in credit card systems and a user-friendly interface with best practices in the software development industry to deliver. (Newsbytes Philippines, 19 September 2011) |
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| Exist Celebrates 10 Years of Software Engineering Innovation |
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Exist Global, pioneers in Open Source software engineering in Asia Pacific, commemorated its 10th anniversary with co-founders Winston Damarillo, Willex Perez, and Junnie Arreza joining CEO Jerry Rapes in a toast to honor 10 extraordinary years of software innovation and the next 10 years of success.
"Exist has had an amazing global trajectory since 2001," said Winston. "Our head count, roster of clients, industry network and service portfolio have expanded tremendously."
Exist began with venture-funded start-up clients and 7 employees. Today, it runs the most modern development centers in Manila and Cebu with 180 technologists, serving world’s leading companies in Healthcare, IT, Telecoms and Finance. In addition, Exist has established itself on the forefront of bleeding-edge technology development -- globally recognized innovators and producers of almost 3 dozen Open Source contributors.
"Exist has without question defined the portrait of the Filipino as IT innovators," remarked Jerry. "Our focus of building a culture of innovation -- being technology solutions "creators" versus being consumers -- and passion for delivering first-class value to clients have enabled us to break strides in the enterprise markets in the Philippines, Australia, and US."
Jerry adds that the Philippines itself represents a significant untapped growth opportunity as companies locally poise themselves to compete through technology differentiation. "Customer demands and competition are driving the need to innovate and exploit technologies, such as cloud computing."
Further solidifying R&D, Exist recently formalized the Office of the CTO with Mike Lim at the helm. "We’re creating a solution that combines new-generation mobile and cloud technologies to bring business intelligence and efficient computing to the enterprise," said Mike.
Exist also partnered with Morphlabs, leader in converged Dynamic Infrastructure solutions for the enterprise, to resell mCloud Data Center Unit (DCU).
"Implementing mCloud DCU allows us to deliver verticalized cloud access for healthcare providers," said Jerry. "Healthcare institutions need to effectively implement top-notch systems with high levels of quality and efficiencies to gain competitive advantage over their competitors." (Exist.com, 15 September 2011) |
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