BusinessMirror January 19, 2015

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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

Tuesday, 18,2015 2014Vol.Vol.1010No.No.10240 Monday,November January 19,

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CALAX, 6 OTHER PROJECTS UP FOR APPROVAL AS CABINET RETURNS TO WORK THIS WEEK

Neda Board set to OK ₧627-B PPPs

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By Lorenz S. Marasigan

EVEN key infrastructure projects, with a total price tag of P627.31 billion, are expected to be approved by President Aquino this week at the meeting of the National Economic and Development Authority (Neda) Board. Public-Private Partnership (PPP) Center Executive Director Cosette V. Canilao said the controversial Cavite-Laguna Expressway (Calax) deal is one of the seven projects tabled for the Neda Board’s approval on Thursday. “We can publish the invitation to bid for Calax next month. The bidsubmission date will be four months from the publication of the invitation,” she said in an interview. President Aquino last November

decided to void the outcome of the deal’s original bidding, in which Team Orion of Ayala Corp. and Aboitiz Equity Ventures Inc. emerged as the top bidder, with a premium bid of P11.33 billion. The President’s decision came after four months of reviewing the petition of then-disqualified party San Miguel Corp., which urged Malacañang to declare its allegedly P20.1-billion bid as compliant. Continued on A2

‘GLOBAL WOES TO DELAY FED’S RATE ADJUSTMENT’

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LOBAL weakness poses the main threat to the outlook for an otherwise robust US economy, a top Federal Reserve (the Fed) official said on Sunday, highlighting a headwind that investors bet may delay Fed rate increases until late this year. “Weakness abroad is trimming some from my forecast” for US growth, Federal Reserve Bank of San Francisco President John Williams told reporters, after a speech at the regional Fed bank. “The big negative on the US economy and financial markets is abroad.” He spoke on a day of economic data that continued to send mixed signals for policy: Consumer confidence rose to an 11-year high, while a measure of inflation dropped by the most in six years. Stocks climbed,

snapping a five-day slide in the Standard & Poor’s 500 Index, as energy shares rallied with the price of oil. Fed officials are closely watching expectations for future inflation, which have declined in recent weeks. St. Louis Fed President James Bullard told a Chicago event on Sunday that a central bank“must protect its credibility with respect to its inflation goal.” Williams, a voting member of the policy-setting Federal Open Market Committee (FOMC) this year whose views often are close to those of Chairman Janet Yellen, said he’s in no hurry to raise the central bank’s key interest rate, which has been held near zero since late 2008. “There’s no need to rush to raising rates,” he told reporters. “At the Continued on A12

PESO EXCHANGE RATES n US 44.8320

FILIPINO Catholics take photos, using their phones and tablets, of Pope Francis aboard the popemobile as his motorcade passes by the Mall of Asia Arena in Pasay City on Friday. Tens of thousands of people waited for hours in hopes of catching a glimpse of the Roman Catholic Church leader. The sight of the pontiff’s vehicle sent crowds cheering wildly, and cell-phone and tablet cameras snapping. More photos on A6 and A7. AP/BULLIT MARQUEZ

Filipinos’ adoration for Pope Francis ‘super-overwhelming’–Malacañang LACIERDA said the Palace was “well pleased” with the efforts of the government and Church leaders involved in ensuring an almost glitch-free hosting of various events lined up for the pontiff.

By Butch Fernandez & Cai Ordinario

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ALACAÑANG officials admitted over the weekend that they were “superoverwhelmed” by the outpouring of adoration accorded by millions of Filipinos to the charismatic Pope Francis. Malacañang Spokesman Edwin Lacierda said the Palace was “well pleased” with the efforts of the government and Church leaders involved in ensuring an almost glitch-

free hosting of various events lined up for the pontiff. The Palace, however, expressed deep regret for the single casualty— volunteer church worker Kristal May Pasadas, who died from head injuries after she was accidentally hit by a steel scaffolding felled by strong winds at the Palo Archdiocese in Tacloban, where the pope held Mass on Saturday. But Lacierda reserved the highest praise for all the Filipino devotees who cooperated with the government and Church organizers tasked

to coordinate proceedings at the always jam-packed papal events. “The response of the people has been ‘super’-overwhelming, as indicated by the presence of the people on the road and in the events themselves,” Lacierda said in a text message to Palace reporters. “The Filipino people have truly shown to Pope Francis how much he is loved.” On the eve of his departure from the Philippines, the pontiff met with local youth groups at the University of Santo Tomas (UST) and celebrated Continued on A12

n JAPAN 0.3804 n UK 68.0101 n HK 5.7827 n CHINA 7.2330 n SINGAPORE 33.6324 n AUSTRALIA 36.5826 n EU 52.8031 n SAUDI ARABIA 11.9453 Source: BSP (14 January 2015)


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