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Korina Sanchez-Roxas, newest ambassador of RDL’s plantcenta soap

August 29, 2017

None other than veteran news anchor Ms. Korina Sanchez is the newest favorite endorser of RDL Pharmaceutical VP for Operations Mercedita Lim. Sanchez has sealed her first endorsement agreement with the RDL as she believed in the efficacy of the RDL beauty product. “I don’t really endorse. This is the first endorsement that I’m gonna do in my career. Right now I’m on leave from news. So I asked permission from ABS-CBN if I could start endorsing because in all the years that I’ve been working as a journalist I don’t really endorse, I don’t really do that.” “And I have to be very discerning about the brands that I endorse, and when this offer came along I had to use the product, and I do believe not only in the product, but in the long-standing reputation of RDL,” said Sanchez. Sanchez also revealed how she maintains her skin young-looking despite being always on the go as a journalist all the time. “Aside from using of course the plantcenta soap, I try to sleep eight hours a day. I have to moisturize which I never did before. That’s it! And I drink a lot of water.” Meanwhile, the RDL company, which is the leading manufacturer of beauty products in the country, continuous to expand with the opening of a new venture in traveling industry. With their endorsers, Ms. Isabelle Lovelie Duterte and actor Albert Martinez, the RAMS travel agency is now open to business to accommodate domestic and international ticketing, international and domestic tour packages, ite­nirary planning, and passport processing. The RAMS Travel Agency is also offering Visa processing and Visa extension assistance, hotel bookings, resort tour packages, travel and accident insurance and other traveling-related requirements of its clients. Model and upcoming teen showbiz personality Iven Lim is endorsing the RAMS Travel Agency especially for his personal use when traveling in and out of the country. Aside from the office at D’Leonor Hotel, RAMS Travel Agency also has a satellite branch in Quezon City located at Grass Towers condominium beside SM North Edsa, LDL Building on Diversion Road, and D’Leonor Inland Resort and Adventure Park, Communal Davao City.

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Mindanao accountants hold yearly convention in Oro

August 29, 2017

THE Philippine Institute of Certified Public Accountants (PICPA) held the 25th Mindanao Geographical Area Conference and 36th Association of CPAs in Mindanao Conference last Monday and Tuesday at Limketkai Luxe Hotel in Cagayan de Oro City. Hosted by the PICPA Cagayan de Oro-Misamis Oriental chapter and chaired by the indefatigable Raymundo Talimio Jr., the conference was festive in nature from the start, defying misconceptions that Mindanao is an economically unviable place. This showed in the timely theme of this year’s convention which is Shine Mindanao. Talimio said they were overwhelmed that more than 800 participants joined in this two-day convention when they were expecting only around 500. “It just shows that we are strong and resilient through trying times…that the Marawi crisis has given us even more resolve to help build our economy in Mindanao stronger,” he said. During the two-day event, the accountants also discussed in thorough the proposed tax reform package now under discussion in Congress and how it would affect the accounting sector and the respective businesses they represent. The tax reform package was discussed by Tax Management Association of the Philippines president Ma. Lourdes Lim. Talimio was also happy during the first day of the event after guest speaker Mindanao Development Authority (MinDA) chair Abu Khayr Alonto promised to tap accountants in the agency’s various economic projects of Mindanao. The technical sessions of the two-day event formed part of the continuing education for accountants as mandated by the Professional Regulation Commission (PRC). Aside from the tax reform package, there were discussions on the Board of Accountancy updates, cooperative updates, PFRS updates, strategic management accounting, fraud detection and forensic accounting. “We are strong and we will stand united to make our island reach her full potential, to be the change we want to see, to be a beacon of light for all peoples of Mindanao,” Talimio said. For his part, PICPA senior regional director for Northern Mindanao Amanoding Esmail said that the conference offered “proven strategies, tools and resources to help your clients increase efficiencies, improve financial controls, streamline regulatory compliance and make transactions manageable. It is also organized mainly to examine opportunities and challenges surrounding the roadmap for Mindanao development. It likewise highlights the speeches of subject experts, lawmakers and industry representatives as well as focused panel discussion on relevant topics.”

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Phoenix Petroleum wins in LANDBANK’s Gawad Kaagapay Awards

August 28, 2017

Phoenix Petroleum won second place as Outstanding Large Corporation II under the non-agri-based category in Land Bank of the Philippines’ Gawad Kaagapay Awards 2017 held on August 14 at Pasay City. The company was represented by Phoenix Petroleum Vice President for External Affairs, Business Development, and Security Atty. Raymond Zorrilla, Chelsea Shipping Vice President for Finance Igna Braga, and Phoenix Treasury Manager Karen Almacen. The award was given to Phoenix Petroleum for its investment in rural advancement through supporting its priority sectors such as small and medium enterprises. Part of the selection process included a visit to the oil company’s terminal in Davao City by a panel of experts and judges from LANDBANK to determine if parameters on operations, sustainability, relationship with the bank, community service, performance, and direction of the business were satisfied. The Gawad Korporasyon KAagapay sa Ating GAnap na tagumPAY (GAWAD KAAGAPAY) was launched by the Land Bank of the Philippines as a fitting accolade for its clients who have been strong partners of the bank and have been providing their significant share in community development. Recently, Phoenix Petroleum was also given an Outstanding Filipino Franchise award for the second time in the 2017 Franchise Excellence Awards.

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2nd quarter growth rates point to economic headwinds

August 25, 2017

INDEPENDENT research group IBON said that the recently released 2017 second quarter national accounts underscore the serious headwinds facing the Philippine economy. The group said that the Duterte administration should focus on building sustainable domestic foundations of growth and development rather than depend on external factors such as remittances, cheap labor business process outsourcing (BPO), and foreign investments. The Philippines reported growth in gross domestic product (GDP) of 6.5% in the second quarter of 2017 which is slower than the 7.1% election-boosted growth in the same period last year. This meant slower 6.4% growth in the first semester of 2017 compared to 7.0% in the first semester of 2016. Agricultural and manufacturing growth in the second quarter and first semester of 2017 was higher than in the equivalent periods last year. This was however not enough to off-set the marked slowdown in services which slowed to 6.1% in the second quarter (from 8.2% last year) and to 6.4% in the first semester as a whole (from 7.9% last year). IBON noted the slowdown in overseas remittances and slackening of BPO investments. Remittance growth has been falling from its recent peak of 8.2% in 2010 to 4.4% in 2016, and was only marginally higher at 4.7% as of the end of the first semester of 2017. Data from the Philippine Economic Zone Authority (PEZA) show that PEZA-registered Information Technology-Business Process Management (IT-BPM) investments fell by almost 35% to Php7.1 billion in January-May 2017 from Php10.9 billion for the same period last year. These slowdowns likely dampened demand for consumer goods and services and lessened private construction activity, which further decreased trade, transport, communications and finance activity. Government construction spending was also significantly slower. Overall construction growth slowed to 6.3% from 13.5% in the second quarter of 2016. IBON said that the slowdown highlights the dependence of growth on short-term bursts of real estate and construction spending. It is however more important to create the foundations for long-term sustained growth. This means more equitable and solid rural development, beginning with real agrarian reform, and developing high value-added Filipino manufacturing with national industrialization. IBON also noted that economic growth remains exclusionary and has done little to relieve the country’s jobs crisis and chronic poverty. Official labor statistics show that the number of employed Filipinos decreased by 393,000 to 40.3 million in April 2017 from 40.7 million in the same period last year. Meanwhile, poor quality of work persists with 15.6 million or 38.7% of employed in the informal sector or unpaid family work so far in 2017. IBON said that the Philippine economy will stay on the path of exclusionary growth and underdevelopment should the Duterte administration still implement neoliberal market-driven policies. To arrest the long-term economic slowdown, the government must take on policies that will aggressively develop domestic agriculture and Filipino industries. Source: IBON.org

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ACE HARDWARE ELEVATED TO PRA’S HALL OF FAME

August 25, 2017

ACE Hardware, the one stop shop for the latest home improvement solutions, was recently elevated to the Hall of Fame in the Foreign Brand Retailer – Home Improvement Category during the Philippine Retailer’s Association’s 20th Outstanding Filipino Retailers & Shopping Centers of the Year Awards at the Grand Ballroom of Solaire Resort and Casino. ACE Hardware, one of the leading hardware stores in the United States, opened its first franchise in the Philippines at SM Southmall, Las Piñas in 1997. Since then, it has grown to become one of the country’s leading home hardware chains with more than 150 ACE Hardware branches nationwide and still growing. ACE Hardware carries a wide range of hardware products and power tools, electrical and plumbing equipment, paints and sundries, building materials, outdoor equipment, and items for the car and the house. It also has a lawn and garden section for gardening needs and a pet section for the animal lovers. This is the third- time ACE has been honored with a PRA Award, thus elevating it into Hall of Fame status. Others include the OFR-Category Killer Award in 2013 and OFR-Best Home Improvement Center Award in 2015. Philippine Retailers Association has over 400 member companies, covering a wide scope of the distribution chain, in its fold — from retailers, mall and shopping center operators to traders/suppliers, manufacturers, distributors, and wholesalers, among others. PRA’s annual search for the Outstanding Filipino Retailers seeks to recognize Filipino retailers who have epitomized the model of a successful retailer in terms of growth and good ethical business practices.

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BSP chief sees peso stability soon

August 23, 2017

MANILA -- Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. expects the Philippine peso to stabilize in the coming days since the local unit has somewhat recovered. The local currency has shown some improvements against the greenback in recent days but finished last week at 51.49, near its 51.60 close on Aug. 24, 2006, given the suspected terror attack in Spain last week. Espenilla, in a message to reporters Monday, said performance of the peso had been cited by some commentators in their assessment of the Philippines’ economic situation, which he stressed should not be done. He said comparing the local unit against stronger currencies in the region “is a rather simplistic way to look at it.” “Rather, the better way to gauge the economy is to evaluate its progress toward delivering on things that ultimately matter to the people - low inflation, growth, and jobs,” he said. In the first seven months of the year, inflation averaged at 3.1 percent, which was within the government’s two to four percent goal for 2017 until 2020. Growth, as measured by gross domestic product (GDP), averaged at 6.4 percent in the first half of the year, near the lower end of the government’s 6.5-7.5 percent target for the year. Employment rate as of end-April this year stood at 94.3 percent, higher than year-ago’s 93.9 percent. Espenilla pointed out that “each economy faces its own unique challenges,” thus policies that were put in place are specifically targeted to “suit its circumstances and needs.” “The Philippines is doing the correct thing in prioritizing a more investment-led economic growth. Allowing the peso to depreciate gradually to a more appropriate level is fully consistent with that strategy,” he said. Foreign exchange rate in the Philippines is market determined although monetary officials have repeatedly said that the central bank joins the market but only to address extreme volatility in the exchange rate. The central bank chief said “the BSP is very mindful” on the economic changes in the country since these “may create market uncertainty if not well explained.” “So we communicate and explain,” he said. Espenilla also noted that “speculators may want to take advantage by exaggerating for financial gain an otherwise healthy price correction to recover some of the price competitiveness.” He, however, stressed that the central bank “will not tolerate such speculative behavior and stands ready to use its very ample international reserves and deploy its full policy and regulatory arsenal if necessary.” “In any case, we think that the peso has now sufficiently adjusted and can be expected to regain relative stability going forward. This soft landing is reinforced by effective discipline in fiscal management and a well-designed and well-executed public investment program,” he said. “Pursuing a flexible and adaptive exchange rate policy enables the BSP to keep its interest rate policy settings squarely focused on achieving the inflation target while dampening consumption and supporting a more investment- and export-led growth that the economy needs to sustain its strong momentum over the long haul,” he added. (PNA)

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