THE PHILIPPINE NEWS ROOM

              The Philippine News Room is blog site which collect the most recent and the most relevant news in the Philippines today. It talks about the topic in its own unique way and perspective that is taken to the different biggest news company in the Philippines that is duly recognized in this blog.  The blog site focus on the different area in the news industry in the Philippines from its local news down to the most renown people to its local politics and known international artist in the entertainment industry. 

              The Philippine News Room Blog site is a site that is working soully  and just depending on the day to day news that feed by the biggest name and company in the Philippines. 

                The Philippine News Room Blog site talks a common topics for news reports include war, government, politics, education, health, the environment, economy, business, fashion, and entertainment, as well as athletic events, quirky or unusual events. The Goverment proclamations, concerning royal ceremonies, laws, taxes, public health, criminals, have been dubbed news since ancient times. Humans exhibit a nearly universal desire to learn and share news, which they satisfy by talking to each other and sharing information. Technological and social developments, often driven by government communication and espionage networks, have increased the speed with which news can spread, as well as influenced its content. 

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PHILIPPINE STOCKS HIT FRESH ALL-TIME HIGH ON 2017'S LAST TRADING DAY

ALL-TIME HIGH. The executives of Philippine Stock Exchange on Friday, December 29 celebrate last trading day of 2017. Photo from PSE Corporate Communications

MANILA, Philippines – Philippine equities closed 2017 on a cheerful beat, as it posted a record high of 8,558.42 points, with all sectors moving north.

As closing bell rang on Friday, December 29, executives of the Philippine Stock Exchange Incorporated (PSE) rejoiced as PSE index (PSEi) rallied 126 points at 8,558.

This was the 14th time that the main index closed at an all-time high this 2017. For the year alone, the PSEi gained 25.1%. (READ: Philippine peso strongest in 6 months, stocks break 8500 level)

Five of the 6 sectoral indices also posted year-to-date gains. The financials sector was up the most as it rose by 34.7% for 2017, PSE said, while the mining and oil sector was the lone decliner as it lost 3% in 2017.

"Philippine shares closed at another record to end the year even though US Stock Trading has been muted as investors have little incentive to make on assets perceived as risky in the penultimate session of trade ahead of the New Year's holiday on Monday," Marita Limlingan, president of Regina Capital, said in a note.

Stock brokerage firm 2TradeAsia.com said in another note that the record high could be brought by investors' positive sentiment over "the tax reform program and other encouraging leads overseas."

Daily average value turnover rose by 3.2% year to date at P8.06 billion.

Philippine peso sets new 6-month high

Meanwhile, the Philippine peso gained 5 centavos against the greenback, lowering the full-year depreciation of the local currency to just 0.42%.

On Friday, December 29, the Philippine peso closed at a new 6-month high of P49.93:$1, from Thursday’s 49.98 to $1.

This was the local currency's strongest level for the peso since June 19.

Dubbed as the region's weakest currency, the Philippine peso rebounded strongly after it slid by 4.12% to hit a new 11-year low of P51.77:$1 last October 25.

Brokers had speculated that the October 25 drop was due to the rising geopolitical tensions between the US and North Korea and normalization path of the US Federal Reserve, among others.

This Friday's rally, according to a broker, could be linked to strong inflows with the PSEi, which posted a fresh all-time high. 

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Remove hatred, spread love, says June Mar Fajardo as new year begins

MANILA, Philippines – June Mar Fajardo has been one of the most successful sports figures in the country so it is safe to take an advice or two from him.

And that advice? To leave hatred all behind in 2017.

2017 had been plagued by hate that even the sports community was not spared. So if Fajardo has one wish for people as the new year begins, it is instead to spread love.

“Dapat sa ating lahat, tanggaling na natin ‘yung hatred sa puso natin. Dapat palitan na natin ng pagmamahalan and kindness,” said Fajardo.

(For everyone, we should not keep hatred in our hearts. We should replace hatred with love and kindness.)

That is probably the reason why Fajardo is always locked in during games, having won 4 consecutive Most Valuable Player awards and 5 PBA championships. And at the beginning of the new PBA season, “The Kraken” willed the San Miguel Beermen to winning their first 2 games.

“Wala tayong makukuhang maganda sa hatred, hindi nagdudulot ng maganda sa buhay natin yun. Hopefully, sa bagong taon, tanggalin na natin ‘yun. Mas okay kung nagmamahalan tayo.”

(We will not get anything good from hatred and it will not make our lives better. Hopefully this new year, we get rid of that. It is better if we just love each other.) – Rappler.com

Fajardo and his Beermen will try to keep their winning ways as they face the TNT KaTropa on January 13 in Iloilo.

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LOOK: Tacloban residents help stranded commuters through 'baluto' rides

MANILA, Philippines – Nonstop rains brought by Tropical Depression Agaton has left thousands of stranded passengers in ports and bus terminals across the country. Based on initial reports, the storm has also caused flooding in several areas along its path.

Among those affected by the flooding is Larry Portillo and his family in Barangay Nulatula, Tacloban City, Leyte.

In an interview with Rappler, Portillo said that they have been stranded on Tuesday, January 2, due to the waist-deep flood in the area that has paralyzed the operations of vans and tricycles. He was on his way to work by then.

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"Medyo malakas ang ulan. Nagmamadali kami kasi papasok ako sa office. Kaya napilitan kami na sumakay ng maliit na banka kasi mahigit dalawang oras kami stranded," he said.

(The rain was strong. We were rushing because I was on our way to work. That is why we were forced to ride a small boat after waiting for more than 2 hours)

Fortunately, residents were there to help ferry stranded passengers across the flood in an admirable display of the spirit of bayanihan.

"Siyempre natuwa kami kasi nagawan nila ng paraan upang matawid namin ang mataas na tubig baha," he said.

(We were happy because the residents were able to find a way to ferry stranded passengers like us)

Residents used a “baluto,” a Waray term for boat. In the video posted by Portillo, residents can be seen pushing the boat, carrying at least 5 passengers at a time, through floodwaters.

The residents charged only a minimum fare of P10 for a boat ride.

FLOODING IN LEYTE. Waist-deep flood hits the town of Dagami in Leyte. Photo by Irish Catilogo

The first storm to hit the country in 2018 is expected to make its 6th landfall in Palawan on Tuesday evening.

In its latest bulletin, state weather bureau Pagasa said Agaton is already 265 kilometers west of Dumaguete City, Negros Oriental or 245 kilometers east southeast of Puerto Princesa City, Palawan, still moving west at 28 kilometers per hour (km/h).

It is expected to leave the Philippine Area of Responsibility (PAR) on Wednesday morning, January 3.

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Tropical Depression Agaton moves closer to Palawan

MANILA, Philippines – State weather bureau PAGASA advised residents of Palawan to stay on alert as Tropical Depression Agaton moved closer to the province late Tuesday afternoon, January 2.

In a bulletin issued 5 pm on Tuesday, PAGASA said Agaton is already 185 kilometers east southeast of Puerto Princesa City, Palawan, still moving west at 28 kilometers per hour (km/h).

The tropical depression continues to have maximum winds of 55 km/h and gustiness of up to 65 km/h. (READ: EXPLAINER: How tropical cyclones form)

Agaton is expected to make its 6th landfall in Palawan on Tuesday evening. It had made landfall in the following areas earlier in the day:

• Socorro, Surigao del Norte – 1 am
• Claver, Surigao del Norte – 1:15 am
• Jagna, Bohol – 4 am
• Santander, Cebu – 5 am
• Bais City, Negros Oriental – 7:30 am

Signal number 1 remains raised in Palawan, including Cuyo Island.

Though Palawan is the only area left under signal number 1, PAGASA warned residents of Bicol, the Samar provinces, southern Quezon, Panay Island, and the rest of Mimaropa to stay on alert for possible flash floods and landslides. (IN PHOTOS: Flood greets Biliran residents on first day of 2018)

Sea travel is risky in Palawan, the seaboards of Northern Luzon and Southern Luzon, eastern seaboard of Central Luzon, eastern and western seaboards of the Visayas, and eastern seaboard of Mindanao due to the surge of the northeast monsoon and Agaton.

More than 3,000 passengers have been stranded at various ports, most of them in Northern Mindanao and Central Visayas, according to the Philippine Coast Guard (PCG).

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Bill seeks higher pay for mid-level gov't employees

MANILA, Philippines – To match the pay of their counterparts in the private sector, a House bill is seeking amendments to the Salary Standardization Law, which will authorize department heads to increase the salaries of mid-level government employees.

The Salary Standardization Law has fixed brackets for the increase in government employees’ compensation.

House Bill 6712, filed by Quirino Lone District Representative Dakila Carlo Cua, seeks to give the heads of departments the power to approve a higher salary than the ones indicated in the law.

It covers “any position holding Salary Grades 21 to 29.”

In the bill, Cua inserts a provision where the salary, after readjustment, may not exceed the pay of a Salary Grade 30 employee.

“Provided, that the President may, in truly exceptional cases, may approve higher compensation for the aforesaid officials,” the bill said.

Cua said that “by giving the head of each branch, bureau, agency or department the power to adjust the benchmarking of position schedule to match compensation offered by the government to that in the private industry will level the playing field.”

As it stands, the Salary Standardization Law signed in 2016 will provide a Salary Grade 21 employee an increase that will reach P64,741 by the 4th tranche. A Salary Grade 29 employee will receive P173,634 monthly by the 4th tranche.

A Salary Grade 30 employee, which is the threshold set by Cua’s bill, will be entitled to P196,206 by the 4th tranche.

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GE to cut 12,000 jobs in power unit

PARIS, France – Embattled industrial giant General Electric announced Thursday, December 7, it would cut approximately 12,000 blue collar and white collar jobs in its GE Power unit, more than a fifth of the total, in a bid to cut costs.

"The headcount reductions, combined with actions taken previously in 2017, will position GE Power to reach its announced target of $1 billion in structural cost reductions in 2018," the company said in a statement.

Newly-installed CEO John Flannery last month announced a massive restructuring plan including thousands of job cuts and sales of some business units as he attempted to halt a slide in GE's profitability and the company's share price.

GE plans to reduce overall structural costs by $3.5 billion in 2017 and 2018 and sell around $20 billion in assets.

It said it was "right-sizing" the GE Power business, which has made the equipment that produces one-third of the world's electricity, given difficulties in the power market worldwide as demand in gas and coal have softened amid the rise of renewables.

"This decision was painful but necessary for GE Power to respond to the disruption in the power market, which is driving significantly lower volumes in products and services," GE Power chief executive Russell Stokes said in a statement.

"We expect market challenges to continue, but this plan will position us for 2019 and beyond," he added.

Stokes said GE Power remained a strong business at its core, noting an order backlog of $99 billion.

GE Power is GE's largest industrial business, having made approximately $27 billion in sales last year and employing 55,000 in more than 150 countries.

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Indonesia's central bank to ban bitcoin, other cryptocurrencies

MANILA, Philippines – Indonesia's central bank said it issued a new regulation prohibiting Bitcoin and other forms of cryptocurrency from being used for payments in the country, the Nikkei Asian Review reported late Thursday, December 7.

Bank Indonesia's new regulation explicitly mentions Bitcoin and the like, saying, "the use of virtual currencies in payment system [and] activities... is prohibited."

"Virtual currencies have weak foundation and are highly volatile – surely this [may] pose negative impacts on our economy," Deputy Governor Sugeng of the central bank said of the prohibition.

He added that a turbulent market will be worrying, with investors having to deal with a lot of uncertainty. "There is a huge risk from virtual currency use, so we hope fintech providers won't engage [in the business]," he said.

The regulation, which is set to come into force on January 1, prohibits the use of cryptocurrencies as a payment tool. It does not regulate cryptocurrency mining or trading, though Sugeng said they might consider other regulations later on.

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Is it time to expand your business?

 

Rappler.com

Published 5:34 PM, July 19, 2016

MANILA, Philippines – As an entrepreneur, you should continuously look for things you can improve on and novel ideas you can introduce to your customers. If you’ve enjoyed a good amount of success and are comfortable with your current operations, consider expanding your business. This won’t only get your creative juices flowing again, it will also bring in new revenue sources, which is always a good thing.

But expansion isn’t something you do with eyes closed. Below is a list of things you should have before expanding your business. If all things check out, be excited because you’re about to embark on a rewarding, albeit demanding journey.

Is it the right time to expand?

 

There are no set milestones to look out for because each business is different but generally, make sure that your existing business is in good standing – meaning you’ve gotten back your investment and have already started earning from it.

Treat your first business as a guinea pig. According to Francis Hernandez,* owner of a facial spa business that has 8 branches around Metro Manila, it’s imperative for business owners to study their first branch very well.

Experiment, see what works, and duplicate whatever does on your next branch. Before opening his second branch, Hernandez waited to recoup their investment. He says, “It’s easier to adjust and correct mistakes when there is only one branch and only a few employees involved.”

If you feel that your business isn’t quite ready for expansion yet, consider growing it in other ways like improving your marketing strategies and updating or increasing the services or products you offer.

Why do you want to expand?

What is the driving force behind your business? Is it to make people’s lives easier? To share innovations? To introduce cultures through food? Or something else? Answer these questions first.

Knowing your “why” and putting it side by side with what the market needs will allow you to discover your product’s unique selling proposition. It will also help you make tough decisions: if something doesn’t adhere to your “why,” don’t do it.

After establishing your “why,” move on to more concrete objectives. Dulce Alimbuyuguen, Small Business Loan Sales Head at BDO, suggests that you determine the following: your long-term and short-term milestones, resources needed to achieve these goals, and the internal and external financing needed to fund these resources.

Where do you want to expand to?

Expansion can mean different things so figure out how exactly you want to expand your business. Do you want a new branch? Are you considering opening an online store? Do you want to go international or try a related but completely different idea?

Learn more about what your competitors are doing and see how you can set your business apart. Look for locations with the same profile as your first branch and see if there are any stores that sell the same products. If there’s none, then that’s an untapped goldmine.

How much will you spend for the expansion?

While expansion leads to increased profit, it incurs increased operation costs as well. Before taking the leap, estimate security deposits, construction costs, equipment, and so on. To be on the safe side, Hernandez suggests that you add a buffer of 30% to your actual estimate, which will cover miscellaneous and unexpected expenses.

It’s ideal to use internally generated funds from the business but if you want to strike while the iron is hot, you can also look into loans. BDO’s SME Loan is a short to medium-term facility that helps entrepreneurs with additional working capital, purchase of business assets, and other business ventures like franchising.

Do you see yourself being able to manage your time properly?

Remember that expanding your business also means more work, so check if you’ll be able to squeeze everything into your daily 24 hours.

As you venture into expansion, make a list of your priorities and figure out which ones you have to do yourself and which ones you can entrust to others.

Hernandez shares: “We hired managers that can be delegated to handle the day to day operations of the branches. We split our time between the branches, depending on what branch needs more of our attention."

Once the road to expansion is clear, create a good system for operations, manage your people well, and set clear company policies to make sure your business continues to run as smoothly as possible.

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BSP to demonetize P100,000 and P2,000 commemorative bills

NUMISMATIC VALUE. Holders of the centennial commemorative banknotes may choose to keep the limited edition bills for their numismatic value. Image from BSP

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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Tuesday, August 1, announced that the P100,000 and P2,000 centennial commemorative banknotes issued during the term of former president Joseph Estrada in 1998 would be demonetized.
This move reflects the provisions of Section 57 of Republic Act No. 7653 or the New Central Bank Act, which authorizes the BSP to replace banknotes that are more than 5 years old. (READ: FAST FACTS: What does the Bangko Sentral ng Pilipinas do?)
The BSP said the centennial commemorative banknotes will remain legal tender (mode of payment) up to July 31, 2018.
These limited edition bills can be exchanged for New Generation Currency (NGC) banknotes at full face value with the BSP from August 1, 2018 to July 31, 2019.
"Starting August 1, 2019, P100,000 and P2,000 centennial commemorative notes that have not been exchanged shall be considered demonetized," the BSP said in a statement.
But holders of the centennial commemorative banknotes may opt to keep these as collectors' items.
Currency collectors – also called numismatists – often preserve commemorative or limited release banknotes and coins for their numismatic value.
Rare banknotes
Commemorative banknotes are issued by the BSP to honor an event of historic significance to the country, the Philippines' central bank explained.
These are in limited volume, set apart from the banknotes intended for circulation and overprinted with an emblem or text descriptive of the theme or occasion being celebrated.
The BSP said the P100,000 centennial commemorative note is the biggest legal tender denomination it issued both in terms of face value and dimension, measuring 22 centimeters by 33 centimeters.

 

RARE. This rare banknote measures 22 centimeters by 33 centimeters, the biggest of its kind so far. Image from BSP

Only a thousand pieces of the P100,000 commemorative banknote were issued by the BSP on the occasion of the 1998 Philippine centennial year.

The P100,000 commemorative banknote features the proclamation of Philippine independence by General Emilio Aguinaldo on June 12, 1898 and the Sigaw ng Himagsikan (War Cry).

Also issued in 1998 was the P2,000 centennial commemorative banknote, which depicts the oath-taking of then president Joseph Estrada and the reenactment of the declaration of independence by former president Fidel Ramos.

 

LIMITED. The P2,000 centennial commemorative banknote depicts the oath-taking of former president Joseph Estrada. Image from BSP

"The P100,000 and P2,000 centennial notes have served their commemorative purpose. These banknotes are also part of the New Design Series which have been demonetized," the BSP said.

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BSP boosts fight vs fake Philippine peso bills

 

Michael O. Ligalig

Published 12:59 AM, August 06, 2017

 

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) boosted its fight against fake Philippine peso bills after having arrested 4 suspects accused of faking the Philippine currency in the first semester of 2017.
The BSP said in a statement on Friday, August 4, that its operatives from the Currency Issue and Integrity Office seized counterfeited banknotes made up of P1,000 and P500 bills, printing machines, a scanner, and printing paraphernalia. These were discovered inside the house of the suspects.
Ammunition and motorcycles used by the perpetrators in illegal activities were also confiscated, the BSP added.

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Since 2005, the central bank has conducted at least 117 anti-counterfeiting operations, leading to the arrest and filing of cases against 199 suspects.
Aside from fake Philippine pesos, the central bank said it had also seized counterfeited foreign currencies, including Iraqi dinar, Japanese yen, Malaysian ringgit, and US dollars.
The BSP said its anti-counterfeiting operations were successful largely due to the information provided by anonymous tipsters, who eventually received monetary rewards for cooperating in the government's crackdown on bogus money.
The central bank's reward system now includes "information involving the hoarding and mutilation/destruction of Philippine currency coins."
To report an illegal activity, informants may contact the BSP's hotline numbers 988-4833 and 926-5092, or they may coordinate with the nearest police station.
Under Section 50 of Republic Act No. 7653, the BSP is vested with police authority to "investigate, make arrests, and conduct searches and seizures in accordance with law, for the purpose of maintaining the integrity of the currency."

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Stats on holiday shopping in PH and why the ‘ber’ season is a myth

 

As early as September, Christmas songs start playing on radio stations and marketers launch holiday deals and promos, all with the intent of getting consumers in the mood to buy gifts, plan trips, and celebrate with their families and loved ones.

But are Filipinos’ shopping habits really aligned with these dates? And with growing concern about heavy traffic and poor public transportation in Metro Manila, how much shopping will be done online, and on which platforms? To find answers, Nerve, Rappler’s data research arm, recently conducted a survey among our readers.
Respondents were mostly millennials (aged 18-35) as well as adults aged 36 and up. The survey was served to visitors of the Rappler site from September 12 to 18. Majority (70%) of respondents hailed from the Philippines. There were slightly more female respondents (54%) than men (46%).
The survey's margin of sampling error is +/- 3 percentage points, with a 99% level of confidence. The poll sheds light on the new shopping habits of a modern, digitally-savvy market.

Procrastinating shoppers

Though many retailers begin their Christmas campaigns in September, consumers aren’t making the bulk of their purchases that early.

Among respondents, 55% indicated that December is the heaviest shopping month, with November coming in second at 24%. Only 5% of respondents said they shop in either September or October.

This means that early marketing and in-store retailing efforts spent on Christmas may largely be wasted. The classic marketer’s dilemma of “Right Message, Right Person, Right Time” is likely missing the time target.

November and December would be the best months to launch a holiday-themed campaign. So much for avoiding the rush!
Cash is still king
Most Rappler readers might still be bringing around cash to shop for gifts. Among respondents, only 35% of respondents said they own a credit card, while 48% still do not own a debit card.

While this may seem comparatively low on a global scale (90% of Singaporeans already own and use debit cards, for example), this is still a significantly higher number compared to the national average of 7% for credit cards and 43% for debit cards.

This preference for cash also affects where they will choose to shop as well.

Most shopping will be done in-store

While e-commerce is rising in popularity in the Philippines, there is still a high preference for in-store buying.

When asked “How do you distribute your Christmas shopping between in-store and online?” majority responded they shop all in-store (39.68%) or more in-store (36.77%).

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Shell income up 4% to P6.6 B

MANILA, Philippines — Pilipinas Shell Petroleum Corp. managed to improve its bottom line as of end-September, supported by its strong retail business segment despite lower inventory gains and a two-month refinery shutdown earlier in the year.

Shell said its net income reached P6.6 billion, up four percent from P6.4 billion last year, bolstered by retail business growth, high V-Power penetration and robust refinery performance.

It said retail network sales volumes increased five percent due to the continued higher uptake of its new efficiency fuel, V-Power with Dynaflex Technology, and the expansion of its retail footprint.

Shell president and CEO Cesar Romero said V-Power with Dynaflex Technology was developed with Ferrari in the F1 circuit aimed to deliver superior performance on vehicles.

To date, Shell has 1,014 retail stations serving motorists all over the country.

With the planned preventive maintenance work on the refinery completed in second quarter, Shell said it was able to capture strong refining margins in the third quarter.

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“A fit-for-purpose refinery, coupled with the significant cost savings that the company enjoys from the North Mindanao Import Facility, support the marketing growth of the company,” it said.

Apart from its fuel-related business, Shell’s convenience retailing business recorded a double-digit growth with 29 new Shell Select stores and the upgrade of several Shell Select sites.

The oil firm said a total of 37 sites already have the Deli2Go® offer, of which 18 are new stores this year. The lube bay and co-locator segment also expanded as the company opened 38 new lube bays and welcomed 30 new co-locators this year.

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Malaysia’s 2nd biggest bank soon to open first Philippines branch

By Lawrence Agcaoili (The Philippine Star) | Updated November 18, 2017 - 12:00am

MANILA, Philippines — Kuala Lumpur-based CIMB Group is set to open its first retail branch in the Philippines before the end of the year after obtaining the  green light from the Bangko Sentral ng Pilipinas (BSP) to establish banking operations in the country.

The Monetary Board of the BSP has approved the application of CIMB Bank Berhad to operate a branch in the Philippines, bringing the number of foreign banks allowed to open branches in the country to 11 since the banking industry was fully liberalized more than three years ago.

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Tengku Dato’ Sri Zafrul Aziz, chief executive of the CIMB Group, said the approval to set up a branch in the Philippines would complete the group’s footprint in Association of Southeast Asian Nations (ASEAN).

“We are delighted to have received the green light from the BSP. The awaited missing link to complete CIMB’s ASEAN-10 footprint has now materialized. This will further propel CIMB into becoming the leading ASEAN universal bank, which will further strengthen our value proposition to customers,” he said.

It also has presence in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, and Laos. Beyond ASEAN, the CIMB Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US, and UK.

The approval finally paves the way for the Malaysian bank to establish a presence in the Philippines after a failed attempt in 2012.

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The CIMB Group entered into an agreement with diversified conglomerate San Miguel Corp. (SMC) in 2012 for the acquisition of the listed company’s 58 percent stake in Bank of Commerce for P12 billion.

However, the transaction was called off a year after as parties failed to reach a deal even after discussions were extended after the lapse of the memorandum of agreement (MOA).

“The Philippines offers tremendous opportunity with progressive regulation, attractive demographics, relatively lower banking penetration and good talent. Our strategy will see us applying the best of our digital assets from across the region as well as working with key strategic partners locally,” he said.

CIMB Group, Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups, has the most extensive retail branch network in the region with around 900 branches.

It operates its business through CIMB Bank CIMB Investment Bank, and CIMB Islamic. It has a 92.5 percent stake in Bank CIMB Niaga in Indonesia as well as a 94.1 percent interest in CIMB Thai in Thailand.

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