Wednesday, December 30, 2009
How The Rich are Debt-Free
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Hi,
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Labels: become debt free, debt free, philippine news online
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Sunday, December 27, 2009
Philippine Central Bank sees 2009 BOP surplus at $4.9 bln
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MANILA, Dec 23 (Reuters) - The Philippines will likely end the year with a balance of payment surplus of $4.9 billion on the back of strong remittance inflows from overseas Filipinos, the central bank said on Wednesday.
The central bank's full year estimate is way above the surplus of $89 million last year, but lower than the record surfeit of $8.58 billion in 2007.
In October, it predicted a BOP surplus of $4-5 billion for this year.
Remittances have held up well this year despite the global financial crisis, with total inflows in 2009 expected to settle 4 percent higher than the previous year's $16.4 billion.
Filipinos overseas sent home $1.5 billion in remittances in October, bringing inflows in the first 10 months to $14.3 billion. These inflows are expected to climb further in the last two months of the year in the run up to the Christmas and New Year holidays.
The country's current account surplus stood at $6.2 billion in the nine months to September, exceeding the central bank's $6 billion surfeit estimate for the whole year, central bank data also showed.
The country's trade deficit narrowed to $4.175 billion in the ten months to October, compared with $7.07 billion in the same period last year.
Manila expects merchandise exports to fall 25 percent this year but grow 7-9 percent in 2010, and imports to slip 25 percent this year and climb 13-15 percent next year.
Labels: balance of payment, current account surplus, merchandise exports, philippine news online, remittance inflows, trade deficit
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Saturday, December 26, 2009
Filipino sadness rating matches all-time high
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Filipinos are known throughout the world for a happy outlook, enabling them to cope with an assortment of miseries, from multiple disasters in the same year to the constant threat of crime to sordid governance by their leaders.
But this year was worse than others, and the latest happiness index reflects it.
According to the Social Weather Stations' (SWS) most recent survey, 10 percent of Filipinos are sad this Christmas season, "which matches the all-time high sadness level... posted in 2004," said the pollster. The Christmas expectations poll began in 2002.
2009 saw a series of tragedies, including epic floods in Metro Manila and around Luzon, and one of modern history's most horrific crimes, the Ampatuan Massacre. As scandals continued to hound the Arroyo administration, fueling pessimism about the country's political future, the nation also lost its beloved icon of democracy, Corazon Aquino.
Despite the setbacks this year, and the record-tying sadness rating, three out of five Filipinos still expected a happy Christmas, the SWS said last Thursday.
The survey, conducted December 5 to 10, said 64 percent of adult Filipinos expected a happy Christmas this year while 10 percent expected it to be sad.
Twenty-six percent, meanwhile, said their Christmas will neither be happy nor sad, the SWS said.
As expected, Malacañang gave the survey results a positive spin, saying Filipinos have many reasons to look forward to next year.
"It has been a difficult year but we look forward with hope," said deputy presidential spokesman for economic affairs Gary Olivar in an interview on dwIZ radio.
Olivar said the global economy is recovering from last year’s meltdown, while the country will have its first automated polls in 2010.
“Nakatutulong kapag positibo ang pananaw natin... Kung negatibo ang pananaw, masama ang mangyayari, kung positibo, maganda (It will help if we maintain a positive outlook. If we have a negative outlook, bad things are likely to happen. If we have a positive outlook, we can expect good things)," he said.
While the survey results showed majority of Filipinos expected this Christmas to be happy, the happiness rating was much lower than the one in 2002, and the sad expectation was the highest since 2004.
Lower happiness
The SWS noted this year’s 64-percent happiness rating was considerably lower than the high 82 percent in 2002, when SWS first surveyed expectations about Christmas-to-come.
Happy expectations for Christmas dropped slightly to 77 percent in 2003, and fell to the 60s starting 2004 - 64 percent in 2004, 62 percent in both 2005 and 2006, 64 percent in 2007, and 63 percent in 2008.
On the other hand, the 10 percent who are expecting a sad Christmas in 2009 is slightly higher than the 7-8 percent reported from 2005 to 2008, the SWS said.
In 2002 and 2003, only 3 percent reported having a sad Christmas.
Happy expectation lower in NCR
Those expecting a happy Christmas in 2009 are 50 percent in Metro Manila, lower than the 62 percent in the rest of Luzon, 68 percent in Visayas and 71 percent in Mindanao.
In Metro Manila, the 50 percent expecting a happy Christmas in 2009 was five points down from 55 percent in both 2007 and 2008.
“By the same margin, those expecting a sad Christmas increased from 11 percent in the previous year to 16 percent," SWS said, adding that happiness with Christmas has been lower among Metro Manila respondents than in other three areas since 2003.
In 2002, 77 percent of Metro Manila respondents anticipated a happy Christmas, but slumped to 65 percent in 2003 and 48 percent in 2004. It rebounded to 55 percent in 2005 but fell again at its lowest 45 percent in 2006.
In Balance Luzon, those expecting a happy Christmas slightly increased from 59 percent in 2008 to 62 percent in 2009. Eight percent expect a sad Christmas this year, unchanged since 2006.
In Visayas and Mindanao, while the percentages of those anticipating a happy 2009 Christmas were similar to those who expected a happy 2008 Christmas, those expecting a sad Christmas slightly increased in 2009.
In Visayas, those expecting a happy Christmas in 2009 barely changed From 70 percent in 2008 to 68 percent this year. Those who expect a sad Christmas this year is 11 percent, up by three points from 8 percent in the previous year.
In Mindanao, the 71 percent who are anticipating a happy 2009 Christmas is similar to the 70 percent posted in 2008. Those who expect a sad Christmas this year is 9 percent, up four points from 5 percent in 2008.
Happiness with Christmas same across classes
Those expecting a happy Christmas in 2009 are about the same across all socio-economic classes: 66 percent among upper to middle classes ABC, 63 percent among masa class D and 64 percent among the very poor class E.
Among classes ABC, those expecting a happy Christmas declined from 71 percent in 2008 to 66 percent in 2009.
Compared with 2008, the percentages of those who expect a happy Christmas in 2009 barely changed among class D, from 61 percent to 63 percent, and class E, from 65 percent to 64 percent.
Among class E, those expecting a sad Christmas doubled from 6 percent in the previous year to 12 percent in 2009.
Those expecting a sad Christmas in 2009 barely changed among classes ABC, from 5 percent to 6 percent, and class D, from 8 percent to 10 percent.
Muslims neutral on happiness with Christmas
Most of the Muslim respondents were neutral on their expectations with Christmas, with 50 percent expecting their Christmas this year to be neither happy nor sad, 23 percent see it to be sad, and 25 percent anticipate a happy one.
Among the Roman Catholics, 65 percent expect a happy Christmas, slightly lower than the 68 percent among Other Christians who are also expecting a happy Christmas in 2009.
Happiness slightly higher among the youth
Those expecting a happy Christmas in 2009 were 68 percent among the youth [18-24] and 66 percent among the intermediate youth [25-34], slightly higher than the 63 percent among those aged 35-44, 60 percent among the 45-54, and 62 percent among those aged 55 and above.
The Fourth Quarter of 2009 Social Weather Survey was conducted from December 5 to 10, using face-to-face interviews of 2,100 adults divided into random samples of 300 in Metro Manila and 600 each in Balance of Luzon, Visayas and Mindanao.
Sampling error margins of ±2.2 percent for national percentages, ±6 percent for Metro Manila and ±4 percent for Balance Luzon, Visayas and Mindanao, applied to the survey.
- with Johanna Camille Sisante/LBG/RSJ/HGS, GMANews.TV
Labels: happiness rating, philippine news online, sadness level, sadness rating, Social Weather Station
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Thursday, December 24, 2009
Arum says Pacquiao-Mayweather fight is off
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GRAND RAPIDS, Michigan (AFP) - Manny Pacquiao's promoter, Bob Arum, says the Filipino hero's planned welterweight mega-fight against unbeaten US star Floyd Mayweather is off because the sides cannot agree on drug testing.
Arum told the Grand Rapids Press, Mayweather's hometown newspaper, that he thought the American never really wanted to fight "Pac-Man", who took his pound-for-pound throne during a retirement that Mayweather ended in September.
"We're going in a different direction," Arum told the newspaper. "What I believe is that Floyd never really wanted the fight and this is just harassment of Pacquiao."
"Floyd, to me, is a coward and he has always been a coward. Not a physical coward, but a coward because he's afraid to face somebody who could beat him. And believe me, Manny Pacquiao could beat him."
"So he will go his way, we will go our way and that will be fine."
The last stumbling block after all other negotiations had been completed was on Mayweather's request for World Anti-Doping Agency (WADA) doping test procedures rather than those commonly used at fights in Las Vegas.
"I have already agreed to the testing and it is a shame that he is not willing to do the same," Mayweather said. "It leaves me with great doubt as to the level of fairness I would be facing in the ring that night."
At issue is blood testing. Mayweather wants testing close to the fight as well as after, which became a deal-breaker for Pacquiao that has wiped out what could have been the biggest moneymaker of a fight in boxing history.
"We appeased Mayweather by agreeing to a urine analysis at any time and blood testing before the press conference and after the fight," Arum told the Press.
"Mayweather pressed for blood testing even up to the weigh-in. He knew that Manny gets freaked out when his blood gets taken and feels that it weakens him. This is just harassment and to me just signaled that he didn't want the fight."
Pacquiao agreed to random urine tests at any time and blood tests at a pre-fight news conference in two weeks in New York as well as after the planned March 13 bout.
Arum had sympathy for boxing fans who have been looking forward to seeing two of the sport's finest fighters meet in a fight expected to bring more than 100 million dollars in revenue.
"Sure they will be disappointed, but they've got to understand what's up," Arum said. "We're not going to keep appeasing this guy for no damn reason, especially over something that would affect, psychologically, my fighter."
"We're not going to be pushed around by this guy. We're not going to do it."
Arum said he backed out of talks on December 10 in favor of stepson Todd duBoef after Mayweather refused to consider a bid to fight in the 100,000-seat stadium of American football's Dallas Cowboys.
Two days later, Mayweather Promotions chief executive Leonard Ellerbe made the demand for WADA-style testing.
"I knew what was up. I'm not a fool," Arum said. "I knew the fight wasn't going to happen. But I could be wrong and that's why Todd made a 'college' try.
"Manny Pacquiao doesn't know anything about drugs. This is just typical nastiness by wise guys like Ellerbe and Mayweather."
Arum, who called the blood tests a psychological ploy to gain an edge over Pacquiao, said telecaster HBO tried in vain Tuesday to find agreement on the testing but to no avail.
"This is all a bunch of hooey and nonsense," Arum said. "Nevada has stringent drug testing, right before the fight and after the fight. The kind of testing we agreed to was designed, 100 percent, to detect everything.
"Remember, 40 years of fights in Las Vegas and nothing like this has ever come up. If you want more stringent testing, sure, as long as it doesn't inconvenience and psychologically affect Pacquiao, sure, who cares? They could analyze urine from today until tomorrow, it wouldn't affect anything."
"It's the blood testing close to the fight, while he's in training, that's unnecessary. And everybody who knows anything about drug testing will tell you it's unnecessary."
Another factor complicating the matchup should the sides sort out their testing woes is that Pacquaio is running for Congress in his homeland in May, wiping out the original May 1 date organizers had in mind for the bout.
Possible next foes for Pacquiao, Arum said, include Mexico's Juan Manuel Marquez, American Paulie Malignaggi or unbeaten Israeli Yuri Foreman, the World Boxing Association super welterweight champion.
Labels: floyd mayweather, manny pacquiao, philippine news online
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Saturday, December 19, 2009
Philippine investigative team wins AFP award
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MANILA (AFP) - The Philippine Center For Investigative Journalism has won Agence France-Presse's Kate Webb Award for its fearless work in the world's deadliest country for reporters, the agency announced Thursday.
The PCIJ has for two decades braved the wrath of powerful interests in the Philippines to expose corruption, the dangers of which were highlighted last month when 31 Filipino journalists were killed in a political massacre.
PCIJ executive director Malou Mangahas said it planned to use the 5,000 euros (7,250 dollars) in prize money from the AFP Foundation to train Filipino journalists in how to safely do investigative reporting on the nation's elite.
"The last stories of journalists killed in the Philippines are typically about local graft, local corruption and local criminal activities," Mangahas said.
The PCIJ is the second winner of the annual prize, which was created in memory of Webb after she died of cancer in 2007 at the age of 64.
New Zealand-born Webb was one of the finest correspondents to have worked for AFP, and earned a reputation while covering the biggest events in the Asia Pacific as a brave and compassionate reporter.
The Kate Webb award is for local reporters or media organisations in the Asia Pacific who have produced exceptional work in dangerous or difficult circumstances, or have demonstrated moral or physical courage while reporting.
The award is administered by the AFP Foundation, a non-profit organisation created to promote higher standards of journalism worldwide.
The AFP Foundation commended the PCIJ for 20 years of work worthy of the award, while also paying tribute to a series of in-depth reports in 2008 on the southern province of Maguindanao where last month's massacre occurred.
"The PCIJ's body of work is of the highest standard and we hope it will continue to inspire Filipino journalists to do their best even in the most difficult working conditions," said AFP Asia Pacific director Eric Wishart.
Mangahas said she wanted this year's Kate Webb award to recognise all reporters who worked courageously in the Philippines, particularly those 31 murdered in Maguindanao.
"It is very difficult, almost discomfiting, to say our situation as journalists from Metro Manila could even come close to the vulnerability of our colleagues in Maguindanao or in the provinces of the Philippines," she said.
"So I think a fitting tribute is to accept it in their honour."
The 31 local reporters were among 57 people abducted then shot dead in a massacre allegedly orchestrated by members of the province's ruling clan who were seeking to maintain their hold on power.
Those deaths brought the number of journalists killed in the Philippines since the fall of dictator Ferdinand Marcos 23 years ago to 134, cementing the nation's reputation as the world's deadliest place in which to report.
The training programme to be set up with the award prize money will focus on teaching reporters how to stay out of danger while carrying out investigative reports on the nearly 200 families that dominate Philippine politics.
The reporters, to be gathered from outlying regions of the Philippines, will then produce material to be published on the AFP Foundation's website as well as by the PCIJ.
"We hope this training programme will help promote professional safety, strengthen ethical standards and sharpen investigative reporting skills among Filipino journalists. And, quite possibly, save lives," Wishart said.
The PCIJ, a non-profit organisation that operates out of a small office in a Manila suburb, has a staff of 10 people and a large network of fellows who contribute investigative reports.
One of its highest-profile achievements was a series of reports on the ill-gotten wealth of then president Joseph Estrada, which played a key role in his downfall in 2001.
The Kate Webb award will be given to the PCIJ at a ceremony early next year in Manila attended by AFP's regional managers and members of Webb's family.
Labels: Agence France-Presse, Kate Webb Award, PCIJ, Philippine Center For Investigative Journalism, philippine news online
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Monday, December 07, 2009
Wesley's run in World Chess Cup ends
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MANILA - Wesley So's astounding run in the 2009 World Chess Cup came to an end after the Filipino grandmaster lost his playoff match against Russian GM Vladimir Malakhov in the fourth round of the competition in Khanty-Mansiysk, Russia.
So (ELO 2640), who twice held Malakhov (ELO 2706) to a draw, yielded to the Russian GM in three straight tie-break matches of rapid chess.
The Bacoor-based chess player yielded to the 22nd-seeded Russian in 55 moves using the black pieces during their first-tie break match. This was followed by another win by Malakhov after 61 moves in the second match.
The 59th-seed So tried to fight back in the third game but Malakhov took advantage of the momentum to win the round in 32 moves.
The score was 4-1 in favor of the Russian.
Thus ended So's campaign in this year's World Chess Cup, which saw him winning over two chess heavyweights on his way to the fourth round.
Prior to facing Malakhov, So shocked Chess Cup defending champion super GM Gata Kamsky of the US in Round 3. He also pulled the rug from under World No. 12 GM Vassily Ivanchuk of Ukraine in Round 2.
So, who is already assured of $30,000 (P1.41 million) prize money for reaching Round 4, also defeated GM Gadir Guseinov of Azerbaijan in Round 1.
Best showing for RP So’s fourth-round finish is arguably the country’s best showing in World Chess Cup history, surpassing the efforts of his compatriots, GMs Rogelio Antonio Jr. and Mark Paragua.
Antonio and Paragua reached the second round of the competition.
GM Eugene Torre, Asia’s first GM, reached the quarterfinal stage under a different elimination format.
So earlier said he will be working to achieve super GM status by breaking the 2700 ELO barrier.
"I dream that sooner or later, I will come to the magical point 2700. I don't know how much time I will need for that," he said.
ABS-CBN
Labels: Gata Kamsky, philippine news online, Vassily Ivanchuk, Wesley So, World Chess Cup
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