Sans stiffer penalties vs illegal fishing, PHL could lose sardines, ‘bagoong’ special report By Alladin S. Diega
Conclusion
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dopting sustainable policies could increase the number of healthy fish stocks. Experts said that, if countries would adopt measures to restore the health of oceans and address illegal fishing, global fish stocks could be replenished by 2050. “Science-based limits, habitat protection and limits on bycatch will pay off in terms of healthy fish stocks, food, and also profits,” Jackie Savitz,
nonie reyes
vice president of Oceana International, said in a separate statement. According to Pedro Rosales, chairman of Pangisda Pilipinas, an organization of small fishermen, they want to adopt sustainable fishing practices to secure their livelihood. “The fishermen’s umbilical cords, including that of their families, are tied to the waters, and it is with their interest, our interest, to maintain the bountiful harvest of the sea by a science-based regulation,” Rosales said. International efforts have been
Correspondent
Continued on A2
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three-time rotary club of manila journalism awardee 2006, 2010, 2012
U.N. Media Award 2008
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A broader look at today’s business
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Thursday 18,October 2014 Vol.7,10 2015 No. 40 Wednesday, Vol. 10 No. 363
P25.00 nationwide | 6 sections 32 pages | 7 days a week
BSP rules out rate tweaks as inflation slows further By Bianca Cuaresma & Cai U. Ordinario
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nflation crept closer to zero in September, averaging still lower to 0.4 percent from 0.6 percent in August, and an event the nation’s economists attributed to more tempered price movements on food, power and imported oil.
INSIDE
new power address BusinessMirror E1 | Wednesday, October 7, 2015 Editor: Tet Andolong
ALVEO Financial Tower
Alveo develops a new power address
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YALA Avenue, the country’s Wall Street, remains the country’s power address of many business organizations whether local or foreign. As part of its thrust to bring dynamism, vibrancy and innovation to the premier business center, property titan Ayala Land Inc. (ALI), through subsidiary Alveo Land, has recently launched the Alveo Financial Tower. Located at 6794 Ayala Avenue, the new 49-story skyscraper will offer premium-grade workspaces to the top business organizations in the country that aim to boost their image and éclat. “Alveo Financial Tower will be a major component of City Gate. This corporate creative district is at the new rejuvenated northern gateway of Ayala Avenue, tailor-fit for contemporary and cosmopolitan worklife culture,” said Jennylle Tupaz, head of Project Development Group for Alveo Land. “City Gate includes 81,000 square meters dedicated to leasable office spaces and 14,000 sq m for premium retail options. It will feature lush and prominent civic spaces designed for convergence, a rarity within the modern concrete jungle of Makati City. Vibrant residential developments will also rise along the district with Alveo Land’s own Kroma Tower and The Lerato. A
312-suite Seda-brand Ayala hotel is also included in the scheme, as well as interactive elevated walkways that interconnect the district and stretches all the way to Ayala Center,” Tupaz added. After acquiring the former Jaka Tower site, Alveo left no stone unturned and commissioned internationally acclaimed and Seattle-based structural consultant Magnusson Klemencic Associates (MKA) and prominent local engineering firm Sy^2 + Associates to perform conduct structural integrity tests on the existing structure. Sy^2 and MKA conducted independent studies to assess the structure of the building that was constructed in 1996 and scheduled for completion in 1999. After conducting a three-month rigid screening process, the two firms reported the building owned by the family of Sen. Juan Ponce Enrile had sturdy structures and fit for use.
CITY Gate
Winning features
TUPAZ said Alveo is confident Ayala Avenue’s new power address will be a big hit in the corporate world. It has a total size of 2,400 sq m, featuring 48 floors plus a utility roof deck totaling 63,739 sq m of gross floor area. There are 363 office units for sale and the tower’s
turnover is slated for 2020. “Ayala Avenue is the most coveted corporate address and the primary engine of Philippines’s unrivaled business capital and home to top local and foreign corporations. With Alveo Financial Tower strategically located in this thriving business locale, it offers ultimate accessibility and networking opportunities along with a prestigious signature address for future locators,” Tupaz noted. Tupaz said the Alveo Financial Tower will contain exemplary features such as the spacious fourvolume signature lobby with a considerable ceiling height at 12.7 meters. Moreover, she noted the full fifth floor will be a huge business center with dedicated conference rooms and modular largeformat meeting facilities. To allow business leaders to unwind and relax, Alveo will put up an executive dining lounge on the 17th floor—
GRAN EUROPA ROLLS OUT NEW PHASES
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AMELLA has recently unveiled new phases of its 250-hectare flagship project in Cagayan de Oro, Gran Europa, to offer a wider range of valuefor-money house and lot packages to homebuyers. The newly opened La Mirande Trails—a 14.9-hectare expansion in the masterplan—offers an upgraded lifestyle to homebuyers, with its bigger house and lot packages (with floor areas ranging from 125 square meters to 200 sq m) from a new line of model homes called Grande series. It also offers the immensely popular value-for-money Camella homes
series, with the guarantee of quality living in a safe and secure community. Meanwhile, a much more affordable house and lot packages perfect for starting families will be offered in the 2.7-hectare expansion in the Lessandra Heights phase. “We are continuously striving to provide more options of quality and value-for-money homes here in Gran Europa and we have expanded our reach to cater to more Filipino families. We are creating more opportunities for families to live an upscale lifestyle in a self-sustaining community with complete amenities,” said Emelia Lustado, Camella
complete with an outdoor deck for more cozy-client meetings. In tune with the times, Tupaz stressed the Alveo Financial Tower will be developed into an intelligent and high-technology structure equipped with the latest technologies such as the Radio Frequency Identification. Furthermore, she said the building will have a higher parking ratio to ensure ample space for both tenants and guests, among other officegrade considerations. Alveo will also implement sustainable architecture to the new edifice similar to the renowned Nielson Tower, which has since transformed from an iconic airport terminal in the 1940s to the Blackbird, a lavish new restaurant serving fine dining and gastronomical fare. To complement sustainable architecture, Tupaz said the Alveo Financial Tower will be aiming for the leadership in energy and environmental design certification to ensure all amenities will be sustainable and energy efficient. Furthermore, Tupaz said the structure will have a pollution-control management system to businesses and organizations can operate at peak performance.
ALVEO Financial Tower
By getting the green light from Sy^2 and MKA, Tupaz reported Alveo embarked on a groundbreaking vision of sustainability utilizing innovations and practices to create an elegant contemporary skyscraper, which will serve as a design catalyst for the modernization and regeneration of Ayala Avenue. “We are excited to contribute to and drive sustainability in architecture in the Philippines, and hopefully pave the way for other developers to follow a similar path of innovation and architectural reuse,” Tupaz said.
Northern Mindanao Cluster Head. Gran Europa is a Mediterraneaninspired masterplanned community located strategically along Lumbia Road in Cagayan de Oro City. Recently, a barangay road was opened to the public making it more accessible. Besides its amenities, such as the clubhouse with swimming pool, basketball court and parks and playgrounds in the village, it also has its own church, the Saint Vincent Ferrer Parish and its own school, the Georgia Academy. Moreover, a Village Center inside the community, which has a supermarket, a
salon and spa, bakeshop, pharmacy and pizza parlor, caters to the various needs of its homeowners. Also, the Center for Culinary Arts (CCA) School will soon be opening here. “Truly, Gran Europa is not only a residential development, but a masterplanned city in itself, where all that you need is right at your doorstep,” Lustado said. Camella has built more than 300,000 homes in 35 provinces and 90 cities and municipalities. Through the years, it has created an immense selection of affordable, high-quality homes with
A golden opportunity for investment
BEING the sole new consolidated office for sale option on Ayala Avenue, Tupaz said Alveo Financial Tower offers good investment returns expected to be as high as 6 percent (based on current lease rates in the Makati Central Business District). “With its much-coveted location on Ayala Avenue, Alveo Financial Tower becomes a rare investment opportunity for businesses wanting to be part of the most prestigious corporate address in the country,” Tupaz said. She reported the recent priority selling event of the Alveo Financial Tower held on September 27 was a behemothic success generating over P5.8 billion in total sales. A typical office space was sold at an average of P240, 000 per sq m, or P27.8 million for an average unit size of 116 sq m during the one-day exclusive event. Serving as the culmination of Ayala Land’s new P20-billion corporate creative node, the Alveo Financial Tower provides a harmonious connection to businesses and enterprises to a complete and lively mixed-use district that includes diverse retail establishments, premium hotel accommodations, upscale condominium residences and integrated green open spaces.
property world-class setting and innovative masterplanned city developments in the Philippines—each one carrying Vista Land’s expertise in space planning, carefully
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thought out and sustainable architecture, and an innate knack for selecting the most accessible and attractive locations. www.camella.com.ph.
casting chromecast The spirit reveals Christ
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ATHER in Heaven, we praise and thank You for Your Son who dwells in us. We believe that the spirit reveals Christ to us and in us. John 16:14-15 states that “He will take from what is mine and declare it to You. Everything that the Father has is mine; for this reason, I told You that He will take from what is mine and declare it to You.” At times we really do not understand what Your message is, but our faith is so deep to acknowledge Your word. Amen. THINGS THE HOLY SPIRIT DOES, GEMMA AND LOUIE M. LACSON
Word&Life Publications • teacherlouie1965@yahoo.com
Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com
Life
Wednesday, October 7, 2015
“Somebody’s happy with her new toy #Chromecast”
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used to set up a party at home with the TV set as instant DJ or VJ, enjoy family game-time with smartphones as controllers, watch shows that only selected users can hear, and view Chromecast-ready apps. Chromecast is compatible with Android devices, tablets, iPhones, iPads, Apple or Windows laptops or Chromebooks, allowing users to cast their favorite entertainment and apps to the big screen. To use Chromecast, customers can plug-in the device to an HDMI TV and a power source, download the app on a smartphone device, tablet, or laptop; authenticate the code, and click the cast icon on their apps to view content on TV. Filipinos can enjoy the following apps which are Chromecast-ready: ■ TV and movies: HOOQ, CrunchyRoll, Stream2Cast, AllCast, Flixster, Dailymotion, Viki, SkyOnline and more. ■ Games: “Just Dance Now,” “Monopoly Dash,” “Wheel of Fortune,” “Rube,” “Catch Phrase Blitz,” “FitFlap,” “Scrabble Blitz,” “Alien Invaders,” “Big Web Quiz” and more. ■ Sports: NBA App, MLB, Red Bull TV and more. ■ Photos and videos: YouTube, Chrome, Piccastr, BubbleUPnP, Pixlr, Lyve, Avia, Picture Cast, DayFrame and more. “We are excited to be working closely with Google to bring Chromecast to Filipinos who are huge fans of everything entertainment: from movies, TV shows, games, sports, to photos and videos. With Chromecast, our customers get instant access to quality entertainment experience at home as they get to see their favorite content and apps from the small screen to the big screen. Offering Chromecast supports our commitment to enable the Filipino digital lifestyle further as we provide our customers a platform to enjoy entertainment at the comfort of one’s home,” says Dan Horan, senior advisor for Consumer Business at Globe. The telco’s global content partners are also
LAUNCHING Chromecast as an offering from Globe with its home broadband plans are (from left) Globe Senior Advisor for Consumer Business Dan Horan, Google Philippines Country Manager Kenneth Lingan, and Globe President and CEO Ernest Cu.
Chromecast-ready, allowing customers to enjoy thousands of movies and TV series on HOOQ, watch live and on-demand NBA games via the NBA League Pass, and stream music and video content on YouTube. Soon, Globe customers can get the Chromecast for free starting at Globe Home Broadband Plan 1299 with free access to HOOQ as well as across all Home Broadband Plans with free access to HOOQ and Spotify or the NBA League Pass. Meanwhile, Platinum Home Broadband customers can avail themselves of the Chromecast for free starting at Plan 3749 to Plan 9999 with free access to HOOQ, Spotify and the NBA League Pass. Globe’s latest partnership with Google was the big reveal at the “Wonderful World of Globe: The New Connected Life”, the seventh iteration of what has become an annual event for the mobile lifestyle purveyor. The event was held in late September at the SMX Convention Center in SM Aura Premier. Of course the partnership with Google was not the only thing the telco giant talked-up; its other new service offerings enjoyed their moment in the spotlight as well. These include: Shopify, an end-to-end e-commerce solution that should appeal to budding entrepreneurs like our Gianna Maniego; Seats, a restaurant booking service; and, more interestingly,
KonsultaMD, a 24/7 medical “service” manned by skilled and licensed Filipino doctors whom, for a minimal fee of P15 weekly, you can call to consult with a medical/health concern (there is a P1-per-minute charge for the call—and we don’t want to hear any harrumphing about the charge, please, when just about everyone splurges on those fattening frappuccinos several times in a day); and GOcery, which brings online shopping beyond the realm of clothing and gadgets and furniture to include everything you typically find in a grocery or a supermarket. (Currently, the GOcery service is limited to residents in Bonifacio Global City, but assurances were given at the Globe event that other areas in the metropolis will be serviced soon enough.)
WITH ADDITIONAL REPORTING BY GERARD RAMOS
Google introduces Pixel C tablet, new Nexus phones
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B M O’B San Jose Mercury News
AN FRANCISCO—Google introduced a tablet-laptop hybrid last week, along with two new Nexus phones and updates to Chromecast that together marked the company’s first big product launch since reorganizing under parent company Alphabet. Emphasizing a push by the company to build its own in-house hardware, Google CEO Sundar Pichai announced the new tablet, called Pixel C, that is powered with Google’s Android operating system and is likely to compete with Microsoft’s Surface and Apple’s iPad Pro, all of which transform into laptop-like devices with the addition of a keyboard. “There’s no kickstand,” said Andrew Bowers, a Google product director, as he demonstrated how the lightweight keyboard magnetically attaches. “I can hold it by the tablet, I can hold it by the keyboard, I can hold it upside-down.” He said the 10.2-inchscreen device goes on sale in time for the holidays—$499 for the tablet and an additional
$149 for the keyboard. The company also introduced two new phones in its Nexus line, which is now five years old but has been used as more of a showcase of Google’s edgiest technology than a big market mover. But that could change, said the Google executives who revealed the 5.2-inch Nexus 5X (starting at $379), the premium 5.7-inch Nexus 6P (starting at $499 and made of “aeronauticalgrade anodized aluminum”) and a back-to-back series of new and updated features in the hotly anticipated but relatively low-key launch event inside a photography studio near San Francisco’s Mission District. Both phones take advantage of one of Google’s strengths—the artificial intelligence and machinelearning capabilities of its latest version of Android, named Marshmallow, which launches this week. Both phones are also able to use Project Fi, Google’s new wireless service (starting at $30 a month), and fingerprint sensing to unlock the phone and use the Android Pay system for buying items at store payment terminals. GOOGLE’S NEW PRODUCTS ■ Android Marshmallow: The latest
version of Google’s mobile operating system will be available on new model Nexus phones and eventually other Android-powered phones. It includes an advanced version of the Google Now personal assistant. ■ Nexus 5X: Made by South Korea’s LG Electronics, the 5.2-inch smartphone starts at $379. It has a 12-megapixel camera, fingerprint sensor for locking and mobile payments, a USB Type-C charging port. ■ Nexus 6P: Made by China’s Huawei Technologies, the sleek, premium 5.7-inch smartphone starts at $499. It has a 12.3-MP camera, fingerprint sensor for locking and mobile payments, a USB Type-C charging port. ■ Pixel C: Google’s first Android tablet ($499) also transforms into a laptop with $149 magnetic keyboard attached. The search giant’s answer to Microsoft Surface and Apple’s new iPad Pro. ■ Chromecast Audio: Along with updating its digital media playing Chromecast plug-in stick, Google’s media universe expands with the new Chromecast Audio circular device—meant to resemble a vinyl record—that allows streaming music to play from a home audio system. ■
life
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can women have it all? Image BusinessMirror
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‘Domestic reforms key to attracting investments’
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side from forging free-trade agreements (FTAs) with European countries, the government must also implement the necessary reforms to make the country more attractive to foreign investors, the Nordic Business Council Philippines (NBCP) said on Tuesday. While the NBCP is optimistic about the Philippines’s efforts to expand trade ties with European countries, it stressed the need to prioritize policy and regulatory changes. “Any movement toward a more liberalized free trade is a welcome development, as it could open more doors to the Nordic region,” NBCP Executive Director Joona Selin said. “On the policy side, what usually matters are the domestic trade and investment scenario, because even if we push Continued on A8
ShoWn in photo are (from left) Takuya Segawa, FJg international president; Sidney Scott Stelton, assistant to the president, Karada Philippines; hanna Stelton, general manager, Karada Philippines; Megumi Komaki, Karada Japan president; William Stelton and hiroaki naruse, Karada regional manager.
Can women have it all? By Jen Weigel | Chicago Tribune
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AN women really have it all? We posed the age-old question to three female business leaders; here is an edited transcript of those conversations. n Nicole Loftus, founder and CEO of Zorch International: “Not only can we do it all, but it’s our duty to be examples to other women that we should do it all. I have many female friends who are the breadwinners in the family with three kids, working full time, and the husband still thinks the woman should be tending to the house and taking care of a sick kid. How are we going to change this paradigm if we don’t set different examples? “The No. 1 way to be successful both at home and at work is to make a list of what matters most to you, and then outsource as much as you can from the bottom of the list. So you’re doing what’s important to you, and leaving the tasks like cleaning the house or grocery shopping to someone else. “And I think we have to keep our private life and our work life very separate. My message to women is, ‘Quit your [whining].’ We’re trying to close this deal, so does your child understand that this deal will help put them through college? It’s a great lesson for the kids to learn
that mom and dad will have to switch because work is important to mom. Just like work is important to dad. There’s still so much discrimination—and I know people might be upset with me for saying this, but I think we have an obligation to push ourselves and get to work. We have an obligation to the women who pushed before us and to the women of our future. Then our kids will grow up and understand that men and women are no different in the workplace.” n Julie Smolyansky, CEO of Lifeway Foods: “If we want to have women in strong careers then we also need men who are willing to help with the balance in the workplace and in the [home]. One of the single most important things you can do for a successful career is to have a partner who respects and believes that your profession is as important as his. “I think it’s great for kids to see that men can be the caretakers and be hands-on with household duties and that mommy can go to work. We have that in our home. My kids have this strong role model at home and they see that mom has a powerful career.... Technology has afforded us this flexibility that we wouldn’t have been able to have 20 years ago. “For me, it will be a utopia when women are running 50 percent of the corporations and government, and men are running 50 percent of the households.”
n Karen Wells, CEO of the business consulting firm The AIW Group and retired vice president of menu innovation and nutrition for McDonald’s USA: “You absolutely cannot have it all. I became an executive at McDonald’s when our children were young, and when I said ‘yes’ to being an executive, I knew that I was saying ‘no’ to being at home with the children. “A defining moment for me two years ago was when my daughter was crying as I was kissing her good night, she said she was talking to her friends at school about memorable moments with their moms and she couldn’t come up with any. Now that doesn’t mean we didn’t have great moments, but it was the dayto-day events I missed. I was never home to help with homework, or able to tell a story every night. Now I can go to the basketball and volleyball games. We sit down to eat as a family. And now that my children are teens and pre-teens, I could never have forecasted how much their needs have changed. The need for more dialogue at this age is so important, and there’s no doubt in my mind that I would have missed it had I stayed in my corporate job.... I work now, but on my own terms. Now I say ‘no’ to the corporate track and say ‘yes’ to family time. And I absolutely have not looked back, I don’t regret it at all.” n
By Jovee Marie N. dela Cruz
Read this before you take that second job THE holidays are coming, and you’d like to bring in a little more income. So how about taking a second job? Experts say the extra money is not the only factor you should consider. n Prioritize your day job. “You cannot make two things your No. 1 priority,” said business strategist Carol Roth, author of The Entrepreneur Equation. “The day job comes first. The last thing you want is to fall out of favor or get demoted because you can’t stay late or work on an extra project.” And experts say you should avoid choosing a second job that is too similar to your primary profession. “You want to be sure not to get a job with a competitor,” said Meade Kelley, the Chicago branch manager for staffing firm Robert Half International. “The employer you are currently with might be worried the other company could steal you. You don’t want to raise concerns.” Roth said full disclosure with your primary employer is always best. “You may find that your current employer offers to give you more projects or hours to bump up your income so you don’t have to go somewhere else because they don’t want to risk losing you,” Roth said. “It could be an opportunity to have a dialogue about other opportunities within your current job,” Kelley said. n Factor in the added costs. That includes child care, gas, parking and a uniform. “People see a wage and think that’s all going in their pocket, but they don’t take into account the hidden expenses that go along with it,” Roth said. “Make sure they pay off so you get enough
image incremental money into your pocket.” n Take care of yourself. “The holidays are busy as it is,” Kelley said. “If you have a full-time job and want to take on an additional job, you need to be sure you’re not overextending yourself.”Fatigue is not the only thing to consider. “You have to remember that your quality will sometimes decline with the quantity that you take on,” Roth said. “You need to set parameters because it’s not worth sacrificing your reputation or wellbeing for pocket cash.” n Remember the tax implications. “Many people don’t realize that if you bring in more money, it just might bump you into a higher tax bracket,” Roth said. Consult with your accountant first.
n Cast a wide net. While retail jobs seem like a no-brainer, Kelley said there are other options to consider. “This time of year we see a peak in requests for yearend accounting help,” he said. Other needs: receptionists, office assistants and file clerks. “Near the end of the year, corporations are looking to get organized and have all their paperwork and accounting in order.” n Consider your family. They need to be onboard with your plans. “More time at work means less time for personal life, family and overall socializing,” Roth said. “You may be doing this so you can get them an extra gift, but they may say, ‘Forget the gift, I’d rather spend more time with you.’”
Jen Weigel/ChiCago Tribune
BusinessMirror media partner
Kent Primor (left), market research and communications specialist of Nordic Business Council Philippines (NBCP); and Joona Selin, NBCP executive director, field questions from reporters and editors of the BusinessMirror and Philippines Graphic at the BM Coffee Club forum on Tuesday. The NBCP will start its regular BusinessMirror column next week. ROY DOMINGO
All set for Apec leaders’ meet in November
Karada Japan President pleased with success in PhL MeguMi KoMaKi, president of Karada Japan, was in town recently to visit the Philippine branches of Japan’s leading seitai body therapy salon. Karada is sought by many for its unique approach to health and wellness that integrates such ancient healing principles as chiropractic care and seitai. accompanied by Karada Philippines President William Stelton and assistant to the President Sidney Stelton, Komaki was pleased by how Karada has been embraced by many Filipinos, noting the steady stream of customers coming seeking relief and healing. “i am very happy to know that Karada has been doing exceptionally well in the Philippines. in Japan, Karada is very popular for its natural healing benefits and restoring the body’s inner balance. Filipinos are like Japanese in that they also give great importance to wellness and quality of life, which is why we are grateful for this opportunity...to share what we know and help others live optimally,” Komaki said. Karada Japanese Body Therapy Centers (goo.gl/ qDHANO) are staffed by therapists who have undergone extensive training by a Japanese trainer certified by Karada Japan. These therapists perform various treatments that focus on proper body alignment and improved muscle function. one such popular treatment is the patented aP Balance, a Karada signature which works by realigning the atlas (the first cervical bone), and the pelvis, which is the base of the body. This treatment restores balance, improves posture and enhances one’s mobility. With the success of Karada in the Philippines, plans are already under way to open more branches not only in Metro Manila but also in key destinations in the country such as Boracay. Karada’s new branch at eight Forbes Town Branch in Bonifacio global City was opened in September. “a lot of our clients have been asking if there’s a Karada near their place. and so, one way of bringing our services to more people is through expansion. We’ve carefully chosen key locations where we will put up our branches, making sure that these are easily accessible and very convenient,” William Stelton noted.
Continued on A8
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Casting about with Chromecast ND so were we greeted when we checked our Instagram account recently, the post belonging to @soulwarden, also known as Gianna Maniego, one of the marvelous people we follow in the social-media landscape, and also former newspaper editor, budding entrepreneur and a cherished contributing writer in this part of the paper. As a gadget junkie, we were instantly jealous of her new toy, which belongs to a line of devices developed by Google that allows audio/video content to be played on a high-definition television or home audio system from one’s smartphone, tablet or laptop via a WiFi connection. This process has been dubbed “casting” (obviously from “broadcasting”), and the tech giant unveiled the first Chromecast device in 2013—a dongle that was attached to the HDMI port of a TV for the joys of casting to quickly commence. This simplification of streaming technology easily won widespread acclaim from the global tech media. Since its unveiling, Google’s Chromecast device has found its way into homes around these parts, with consumers buying the device either during a trip to Hong Kong or the US, or in the robust gray market in Greenhills. Now, if you have been itching to get your mitts on this streaming wonder but are iffy about the obvious risk in going gray, as we have been, you will be pleased to know that Globe Telecom, the country’s top mobile brand and a purveyor of the Filipino digital lifestyle, is bringing Chromecast to the Philippines to offer Filipinos a new way to stream their favorite entertainment content at home. With Globe making Chromecast available to subscribers, customers can now cast their smartphone, tablet, or laptop to a bigger screen for a better and more inclusive viewing experience. The device can also be
Sector Diwa C. Guinigundo said inflation could already have bottomed out and that a trend reversal may be expected in the fourth quarter. The 0.4-percent inflation report was within forecast for September, ranging from 0.2 percent to 1 percent. This also represented a further decline from the 0.6-percent inflation reported in August and the seventh such reduction in a series. “Based on our latest forecasts, we should see inflation bottoming out on account of the impact of El Niño
By Catherine N. Pillas
PATRICK DEWITT’S ‘UNDERMAJORDOMO MINOR’ WINKS AT FAIRY-TALE CONVENTIONS »D2
BusinessMirror
This helped strengthen the neutral monetary-policy stance of the Bangko Sentral ng Pilipinas (BSP), one of whose most senior officials effectively ruled out on Tuesday any more interest-rate adjustments when the seven-man policy-making Monetary Board meets again to set the rate at which they borrow from or lend to bank five weeks from today. In reaction to the Philippine Statistics Authority’s (PSA) announcement that September inflation fell still lower in September, BSP Deputy Governor for the Monetary Stability
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leader of the House of Representatives said the government has made the necessary preparations to accommodate some 7,000 visitors who are expected to flock to the Philippines during the Asia-Pacific Economic Cooperation (Apec) L eaders’ Meet i ng i n M a n i l a next month. Vice Chairman of the Committee on Appropriations and Liberal Party Rep. Dakila Carlo E. Cua of Quirino, who defended the Department of Tourism’s (DOT) P3.5billion budget for 2016, said the
PESO exchange rates n US 46.5800
agency made the assurance that the Philippines is ready for the Apec meet on November 18 and 19. Cua made the pronouncement in response to the query of Partylist Rep. Jonathan A. de la Cruz of Abakada during the DOT budget deliberations in the plenary. “Such event will have approximately 7,000 visitors,” Cua said. With such huge number of visitors coming, de la Cruz asked DOT officials if the government is ready to accommodate all 7,000 Apec guests arriving next month. “Are there enough rooms that meet international standards for the 7,000 expected visitors?”
Citing Tourism Secretary Ramon R. Jimenez Jr., Cua said there had been 28 Apec conferences held in the country so far, and each event had an average of 500 participants. Earlier, the Palace declared November 18 and 19 as special nonworking days in the National Capital Region for the Apec Economic Leaders’ Meeting, which will be attended by 21 world leaders. Apec is a regional economic forum established to leverage the growing interdependence of the Asia Pacific. Meanwhile, de la Cruz urged the DOT to conduct a feasibility study on the country hosting world pool
events in the country and other sports events on a regular basis to attract more tourists to come to the Philippines. He said the Tourism Promotions Board (TPB) is in the best position to undertake such activities. On the other hand, Cua said Jimenez had asked the TPB to conduct a feasibility study on the matter. Meanwhile, of the P3.588billion proposed DOT budget for 2016, P2.746 billion shall go to maintenance and other operating expenses, P465.1 million to capital outlays, P374.7 million to personnel services and P1.5 million to financial expenses.
PHL right at the door of US-led TPP–DTI DOMINGO: “We’re waiting for it to open, and as soon as it opens, we’ll start discussions.”
T
he Philippines remains interested in joining the megatrade deal, the Trans-Pacific Partnership (TPP), when it opens up to new members, outgoing Trade Secretary Gregory L. Domingo said. “As far as the TPP is concerned, there was an announcement of an agreement of talks last night, but that will take some time to conclude, because each of those countries has to go through each of their processes of approval. So the TPP will still take time. But the Philippines has indicated very clearly that we want to join the TPP,” Domingo said at the Board of Investments’ 48th Anniversary held on Tuesday. While Domingo clarified that the accession protocol for new members is still far from being fleshed out by TPP members, the Philippines is “right at the door” of the TPP. “We’re waiting for it to open, and as soon as it opens, we’ll start discussions,” the trade secretary added. As a way of preparing for the possible entry, the Philippines already had technical consultations with six of the 12 TPP members, including the United States. The Philippines has so far held technical consultations with Malaysia, Australia, the US, New Zealand, Mexico and Canada. The Philippines has also expressed interest in forging free-trade agreements with Canada, Peru and Chile—seen as “building blocks” toward the TPP. The TPP trade pact has remained a highly secretive deal, with the text only known to negotiating members. Meanwhile, Japanese Prime Minister Shinzo Abe’s efforts to push through structural changes to recharge Japan’s economy got a boost after negotiators reached a deal on the TPP. The ambitious trade deal, if ratified by lawmakers in the 12 member-nations, gives Abe more ammunition to fight opposition in the agriculture sector while widening Japan’s market for exports of cars and auto parts. Attracting overseas investment, and expanding exports through structural shifts and deregulation are key to Continued on A8
n japan 0.3868 n UK 70.5408 n HK 6.0103 n CHINA 7.3198 n singapore 32.8097 n australia 33.0167 n EU 52.0951 n SAUDI arabia 12.4247 Source: BSP (6 October 2015)