GMA 7 TV5 merger report not true, TV5 owner Manny V Pangilinan and CEO Atty Ray Espinosa confirm

GMA 7 TV5 merger report not true, TV5 owner Manny V Pangilinan and CEO Atty Ray Espinosa confirm

Manila, Philippines – TV5 ‘Kapatid’ Network owner Manny V. Pangilinan (MVP), along with TV5 President and CEO Atty. Ray Espinosa, denied on Monday, June 4, 2012 earlier reports that GMA ‘Kapuso’ Network and TV5 Network have merged.

As reported earlier, columnist Ricky Lo on his Funfare post at PhilStar.com on Monday at 12 a.m. (local time), MVP “virtually confirmed” the merging of GMA7 and TV5 during the presscon last Saturday in San Francisco and allegedly to be formally announced by the end of November this year.

Nevertheless, TV5 talent Arnell Ignacio tweeted about three hours later, along with a photo of his phone with the text message which he said came from MVP himself, and gave him permission to post his message.

Text message of TV5 owner Manny V Pangilinan to
Arnell Ignacio about the GMA 7 TV5 merger report
Image Credit: Arnell Ignacio Twitter

“You know, Arnel, all I said was: ‘Please support TV5 here in the States. And, by the way, please support GMA-7, too (since Dish carries GMA).’ That was all. No mention of merger, investment, combination” The text message of MVP reads.

“Certainly no mention of a November deadline, or any deadline at all. Sure some people speculated and all I said was, ‘I can now say we [are] under discussion but nothing finalized at this time.’” The message added.

Later, News5 journalist DJ Sta. Ana also tweeted a message from TV5 President and CEO Atty. Ray Espinosa, also confirming that GMA7 and TV5 have not merged and that Manny V. Pangilinan was only misquoted.

“TV5 chairman Manny V. Pangilinan was misquoted re: TV5 & GMA7 merger. Not true, says TV5 Pres. Atty. Ray C. Espinosa. Atty Espinosa: ‘MVP was misquoted; he did not say there was an agreement to merge TV5 & GMA7.’” DJ Sta. Ana (@djstaana) tweeted about two hours ago.

“The TV5-GMA7 bundled offering of the Dish Network is a marketing strategy to provide shows to Pinoys. This does not mean that TV5 & GMA7 have agreed to merge. There is no such thing as a Nov deadline. The interest remains on GMA7 but any deal depends on reaching a meeting of the minds on price, etc.” DJ Sta. Ana further tweeted, quoting the statement of Atty Espinosa.

source & image credit: http://www.batangastoday.com

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Coco Juice Exports of the Philippines Increases in 1st Quarter of 2012

Coco Juice Exports of the Philippines Increases in 1st Quarter of 2012

The Philippines coco juice exports in the US has increased by over 400 percent in the first quarter of 2012, according to a report by Philippine Coconut Authority (PCA) administrator Euclides Forbes on Friday, June 1, 2012. The total amount of coco juice exports in the US was estimated to be about $3.9 million.

Based on PCA data, about 3.7 million liters of coconut water was exported by the Philippines in the first quarter of the year compared to the 796,000 liters exported during the same period in 2011.

The PCA revealed that there has been an increase in demand for coco juice from other countries.

Reports say that coco juice demand from the Netherlands increased from 32,000 liters to 189,800 liters. Australia reportedly grew by 362 percent to 65,219 liters.

According to Forbes, the PCA expects the 2012 coco juice export figures to surpass the 2011 export of 16.7 million liters worth about $15 million. Forbes said that the PCA have come up with the estimates as “international demand for coco water continues to rise as more people turn health conscious.”

Forbes explained that “Coco water contains a considerable amount of vitamin B such as thiamine which strengthens the muscles, delay fatigue, and maintain normal heart function. It is regarded as a good source of electrolytes and glucose and have been found suitable for intravenous rehydration.”

source & image credit: http://www.batangastoday.com

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US actor tells Letterman about NAIA experience (Philippines)

US actor tells Letterman about NAIA experience (Philippines)

MANILA, Philippines - Hollywood actor Taylor Kitsch, best known for playing a football player in the NBC series "Friday Night Lights," revealed how he was stopped by a customs officer at the Ninoy Aquino International Airport (NAIA).

In an interview with "Late Show With David Letterman" aired March 1, Kitsch said he was flying in and out of the Philippines to film Oliver Stone's new film "Savages."

"I had the visa to work there on a new Oliver Stone film called 'Savages' with Travolta, Benicio, Uma Thurman, Aaron Johnson," he said.

Image Credit: thehollywoodstory.com

When he recently went back to the Philippines, Kitsch said was stopped by a customs officer. Apparently, the customs officer discovered that there was no more space on Kitsch's passport for a new stamp, so the actor was told to go back to Japan, where he just came from.

"I'm in the backroom and he said, you're going back to Japan... He said 'There's not enough pages. You're out of pages, so I can't stamp it. You're gone.' I'm like, I can work here, I've got the visa. He didn't believe I was an actor So I'm literally pitching myself to this guy," Kitsch said.

Kitsch even told the customs officer that he worked on other films and was now working with John Travolta on "Savages." But the immigration agent didn't believe him, and even asked him, "Where's Travolta?"
Since the airport's computers were not working, Kitsch used his iPhone to show the customs officer the trailer of his newest film "John Carter". But the customs officer, who still didn't believe he was an actor, allegedly even tried to get Kitsch to give him an iPhone.

"Their computers are not working. So I told him,'you gotta look me up, I can show you something to prove (that I'm an actor) and he said 'You are on the next flight to Japan,' reminding me again. And then I'm looking on my iPhone because their computers weren't working. And he's like 'hey can you get me one of those?' And I'm like 'can you let me in and I will give you one of these.' And he still not believing (me)," Kitsch said.

"Finally I show him the trailer of John Carter on the iPhone and he stopped and he's like  'oh my God what's that?' And it's a great white apes that seen there that's in the trailer. And he’s like, ‘That’s not you.’ I’m like, ‘What?’ He’s like, ‘You have short hair.’ And I’m like, ‘Mate, I cut it. It grows. It’s me.' So, then finally he's like 'I love trailer, go ahead. You are in.' So, John Carter got me through customs."

Kitsch was also part of "X-Men Origins: Wolverine" where he played the role of Gambit."

Here is the video:

Video Credit: Youtube

source: ABS-CBN News

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Philippines: The stairway to heaven

Philippines: The stairway to heaven

Soak in the extraordinary sights of Sagada in Philippines - hanging coffins, endless bat caves and rice terraces known as the stairways to heaven

A strong, pungent smell hit us in the face as we walked into the cave. We could hear some chirps and shrieks. Beyond where the sun shone, there was nothing but a vast, gaping hole. We removed our sandals and got down on all fours. Everything we touched felt slimy. Our guide told us that it's guano, the excrement of bats living in the cave.

The cave was the largest of over 60 underground caves in the remote town of Sagada, which lies deep within the Cordillera Mountains of the Philippines. Our guide paused to light up his kerosene lamp. The flickering flame cast eerie shapes on the walls around us. We pressed on, disappearing further into the cave. 

Image Credit: timesofindia.com

Surreal rock formations: There was the sound of running water. If not for the dim light cast by the kerosene lamp, we would be in complete darkness. We soon came to a pool of water. There was no way around it. Get in, our guide said. The water was ice-cold and chest-high. We gritted our teeth as we stepped gingerly across the pool, not knowing what was in the water.

After we emerged from the pool, our guide shone the kerosene lamp around to reveal gorgeous stalactites and stalagmites. Further on, there were otherworldly rock formations which were given names such as 'frog pool' and 'elephant formation.' The cave branched off in all directions, and without our guide, we probably would never find our way out. In fact, there've been stories of foreigners who got lost in the caves wandering without guides. Their bodies were eventually found a few days later.

Feeling safe with our guide, for the next few hours, we were Indiana Jones as we clambered over slick rocks, and squeezed ourselves into narrow passages that looked impassable. There were sections where we had to haul ourselves up using ropes.

Hanging coffins: Sagada, however, is not just about adventure. In fact, there's more than a touch of mysticism about the town, given its famous hanging coffins. As their name suggests, these hanging coffins are in a state of suspension, hanging on for perpetuity on limestone cliffs.

Our guide told us that the coffins were placed there because his ancestors believed that the higher the body is laid, the closer the souls were to heaven. The location also helps to protect the bodies from earthquakes, floods as well as wild animals.

Not surprisingly, the act of placing the coffins on the cliffs requires a tremendous amount of effort. Men would bind themselves in ropes to climb the steep mountainside and haul the body and the coffin. Once the resting place is reached, the coffin is secured in place before prayers are chanted and the men bid the dead a final farewell.

This dying tradition is no longer a common practice for the locals of Sagada. The latest addition to the hanging coffins was in 2008, after a long interval. With little new coffins added to the cliffs, and with the existing ones exposed to the elements, it's really anyone's guess how long it'll be before they become history.

Burial caves: Burial caves are another interesting location where the locals of Sagada put their dead to rest. In such caves, tens or even hundreds of coffins are lined up along the walls, forming what looks almost like a crypt. We ventured into one of these caves for a closer look and noticed that some of the coffins were open, revealing dark emptiness within.

Our guide told us that thieves have made off with some of the bones; even carted away entire coffins for sale. I imagine they are brave thieves since I definitely would not want to be poking around these caves at night.

Banaue: The town of Banaue, which lies just a day's drive away from Sagada, is yet another ruggedly enchanting spot within the Cordillera Mountains. The town is most famous for its 'Stairway to Heaven,' which are rice terraces created by the Ifugao tribe, who were once feared head-hunters.

Situated some 1,500 metres above sea level, the 2,000-year-old UNESCO World Heritage-listed terraces are largely believed to be carved into the mountainside by hand with minimal equipment. But while we could already see some of these terraces around Banaue, it's said that the truly spectacular ones lie in the village of Batad - a short one hour drive away.

Those claims were not unfounded. Beautiful as the rice terraces around Banaue were, they could not compare to those in Batad which rise up the mountains like an amphitheatre draped in green. Also, due to the hassle involved in getting to Batad - a bumpy ride followed by a one-hour hike into the jungle before we could finally see the rice terraces - there were hardly any tourists there. In fact, we counted less than ten the entire day we were there.

With only my friend and the guide for company, I had all the peace and solitude. I could truly appreciate how the rugged mountain scenery cradles the irrigated rice terraces built directly into the side of the mountain in complete natural harmony. And standing at the bottom of the valley, looking at the terraces as they extend upwards into the clear blue sky, it's not hard to imagine why some would refer to these terraces as 'Stairways to Heaven.' 

source: TimesofIndia

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2NE1 is in the Philippines for a vacation

2NE1 is in the Philippines for a vacation

The popular Kpop girl group, 2NE1, is back in the Philippines!  Manila Bulletin reports that the purpose of the visit was not laid out yet but it was reported that the group is here not for work or a concert but for a short vacation, since it is winter in Korea.

Image Credit: hellokpop.com

                              2ne1's Dara, known by most Filipinos as Sandara Park, was popularly 

                                                 called pambansang "krung-krung".

Members CL, Dara, Bom and Minzy arrived at the Ninoy Aquino International Airport Terminal (NAIA) 1 yesterday, February 1, at 11:27 AM via a Korean Air flight from Incheon International Airport.

Leave your comments about this article in the comment box below. :)

Source: Iam Jammed

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Horseback riding is Kim's newest hobby (Philippines)

Horseback riding is Kim's newest hobby (Philippines)

Report from ABS CBN News:

MANILA, Philippines – Actress Kim Chiu has taken on a new hobby to cope with her stressful and hectic showbiz life.

In an interview with Maven magazine, Chiu said she is currently enjoying horseback riding whenever she wants to escape from her busy schedule.

Image Credit: filipinasinshowbiz.com

“Kapag sobrang stressed ako, magda-drive ako papuntang Subic. Mayroon kasing patakbuhan ng kabayo doon. Sasakay ako sa isang kabayo tapos tatakbo siya ng tatabo hanggang mag-e-enjoy ako at makamalimutan ko na yung mga problema ko. Yun ang bago kong hobby,” she said.

Chiu said she fell in love with horseback riding last year.

“Dati pa ako nakapunta sa patakbuhan ng kabayo pero hindi pa ako mahilig sumakay sa kabayo noon. Hanggang may panahon na parang problema ako, sumakay na ako nang sumakay ng kabayo hanggang ang saya ko na,” she said.

Chiu said it is always refreshing to experience something new.

source: ABS-CBN News

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Filipino Actress Iza Calzado now a certified Kapamilya (Philippines)

Filipino Actress Iza Calzado now a certified Kapamilya (Philippines)

MANILA, Philippines - Actress Iza Calzado is now a certified Kapamilya.

On Tuesday afternoon, Calzado signed a three-year-contract with ABS-CBN.

Present during the signing were ABS-CBN executives including the network's president Charo Santos-Concio.

Image Credit: tvnetworkwar.blogspot.com

"Una sa lahat, I'm grateful for all the opportunity that GMA-7 has given me for almost 10 years. But, I just think that this is time for me to grow, to evolve, to learn. I think it's just a matter of timing and I've always wanted to work again with people from Channel 2. Kasi noong nag-Star Cinema ako for 'Milan' sabi ko one day I'm sure I will work with them again. I guess this is just the way it works. It's just a business and at some point we will make a certain decision and hopefully without burning bridges," Calzado said.

The actress admitted that it was a hard decision for her to move to ABS-CBN, explaining that she will really miss people she worked with, including Eat Bulaga's main hosts Joey de Leon, Vic Sotto and Senator Tito Sotto.

"Isa sa pinakamahirap na desisyon sa akin na iwanan ang Eat Bulaga. You can never understand what it is like unless you were part of that family. Napakabait nila and it takes a certain personality to jell with them and I was fortunate enough to have that kind of personality and they are very fun kaya lang I really need to do this. I'm sure maiintindihan nila," she said.

According to Calzado, included in her contract are a television series and reality show. She is also set to do a film.

"What I am allowed to disclose at this very moment is mayroon po akong drama show at magkakaroon ako ng reality TV show. Hindi naman ito tungkol sa buhay ko, kaya huwag kayong mag-alala di niyo ako susundan sa bahay ko," she said.

According to speculations, Calzado is being eyed to host the second season of "Pinoy Biggest Loser," replacing Sharon Cuneta.

In the interview, Calzado said she would like to do a project with actors Piolo Pascual and John Lloyd Cruz.

"So far gusto kong makasama ulit si Piolo, gusto ko siyang makasama di lang dahil sa crush ko siya kung di nakasama ko na siya sa 'Milan.' Gusto ko ding makasama si John Lloyd and I know that soon, I think, I will be working with him and, of course, Jericho Rosales and a lot like the younger ones like Gerald Anderson. 

I'm not saying that I wanna work with them because I wanna paired up with them, not necessarily. I really wanna work with people and I want to see what they're like."

"Sa (female stars) I would like to work with Judai (Judy Ann Santos). I want to work with Bea (Alonzo) who established a very good reputation as far as acting is concerned. Si Angelica Panganiban is a very strong character and a very strong actress as well. Si Karylle and Jodi Sta. Maria, I really want to work with them," she said.

She also said that as a new Kapamilya star, she's now ready to face tougher competition.

"At the end of the day it (competition) serves as a motivation and challenge but I'm not going to take anyone's place. I would like to make my own space and fill up a certain niche that maybe only I can fill," she said.

source: ABS-CBN News

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14 Indonesian, Korean crew rescued (Philippines)

14 Indonesian, Korean crew rescued (Philippines)

Report from ABS-CBN News,
 

Manila: A cargo ship loaded with iron ore has listed off the eastern coast of the Philippines, and passing boats rescued the 14-member crew.

Philippine coast guard operations officer Mark Angue says the Panamanian-registered M/V Sun Spirit began to list Saturday off Catanduanes province and sent a distress signal. The coast guard immediately deployed three ships and a helicopter for a search and rescue.

Image Credit: maritime-executive.com

Angue says the coast guard later learned that the 12 Indonesian and two Korean crewmen abandoned their China-bound ship, which came from the central Philippine province of Leyte.



Coast guard Admiral Ramon Liwag says a passing Philippine cargo ship rescued 11 of the crewmen while a fishing boat saved three others. It's unclear whether the disabled ship sank. 

source: ABS-CBN News 

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Katy Perry set to arrive in Manila tonight (Philippines)

Katy Perry set to arrive in Manila tonight (Philippines)

Report from ABS-CBN News,

 MANILA, Philippines - American pop singer Katy Perry is set to arrive at the Ninoy Aquino International Airport Terminal 1 at 9 p.m. today for her one-night concert this weekend.

Ricky Valmonte of the Manila International Airport Authority's (MIAA) media affairs division said Perry was initially scheduled to arrive at around 6 p.m. but her flight was rescheduled.

Image Credit: sweetslyrics.com

MIAA media affairs chief Connie Bungag said Perry's advance party refused to allow airport reporters to cover the arrival of the pop singer. Some airport journalists expressed surprise that the airport authority is merely following orders from the organizers of Perry's concert.

On Wednesday, Perry invited her fans to watch her concert at the Mall of Asia grounds in Pasay City on January 22.

Perry is behind the hits "I Kissed A Girl," "Teenage Dream," "California Gurls," "ET," "Firework" and "Last Friday Night."

Please leave your comments about this post in the comment box below.

source: ABS-CBN News 

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DepEd Philippines Funds High Schools Offering : SPED (Philippines)

DepEd Philippines Funds High Schools Offering : SPED (Philippines)

 Department of Education (DepEd) on Monday announced that it will release funds to secondary schools that offer special education (SPED).

Image Credit: DepEd

Education secretary Armin Luistro said 153 high schools that serve students with “exceptionalities” will be granted subsidy.

Luistro explained that “exceptionalities” would mean “students who have difficulty learning because either they are visually or hearing-impaired, have autism or Down Syndrome, or other learning disabilities.”

Based on DepEd Order 98, schools serving differently-abled individuals would be receiving subsidies corresponding to the certain number of exceptionalities being catered to, as follows:

Exceptionality | Subsidy 

1 = P50,000 

2 = P100,000

3 = P150,000 

4 = P200,000 

5 or more = P250,000

The education department says 276 recognized SPED centers around the country continue to receive subsidies which enable them to deliver quality educational services to children with special learning needs.

Leave your feedback about this article in the comment box below.

 

 

source: CoolBuster

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Ambo Typhoon Update : January 2012 (Philippines)

Ambo Typhoon Update : January 2012 (Philippines)

According to Weather Report of ABS-CBN News, State weather bureau PAGASA continues to monitor a Low Pressure Area (LPA) over Mindanao which will be called “Ambo” if it intensifies into a cyclone.

Weather experts report that as of 5:00 a.m. on January 4, the LPA was spotted 400 kilometers East Southeast of General Santos City.

PAGASA says this weather system will bring mostly cloudy skies with scattered rainshowers and thunderstorms over Eastern Visayas and Mindanao.

Image Credit: www.weather.gov.ph

Eastern and Southern Mindanao will have cloudy skies with widespread rains which may trigger flashfloods and landslides, the agency added.

Leave your feedback about this article in the comment box below.

source: ABS-CBN News

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Filipino Actor Tyron Perez found dead in Valenzuela (Philippines)

Filipino Actor Tyron Perez found dead in Valenzuela (Philippines)

Manila, Philippines:

According to ABS-CBN News Report, actor Tyron Perez was found dead inside a vehicle in Valenzuela City Thursday night, police said.

Image Credit: gorgeousmales.com

According to Senior Superintendent Wilben Mayor, Perez’s body was found dead at the backseat of a black Toyota Altis parked along the service road of the North Luzon Expressway in the vicinity of Barangay Ugong, Valenzuela.

Police said Perez died of a gunshot wound on the right side of his head from a caliber .22 firearm.

The gun was found beside the victim's body.

Police said they are looking at the possibility that the wound may have been self-inflicted. Investigations are still ongoing.

Perez, 26, first stepped into the limelight when he joined a television network’s reality talent show in 2003.

He was recently a part of the defunct ABS-CBN television drama series, “Mula sa Puso.”

Perez also appeared in the December 3 episode of “Maalaala Mo Kaya,” where he played the love interest of Ejay Falcon’s character. 

source: ABS-CBN News

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2011 was a turbulent ride for PAL and its workers (Philippines)

2011 was a turbulent ride for PAL and its workers (Philippines)

According to ABS-CBN's News Report, for the Jalbuna family, Christmas Eve won't be spent at home feasting on noche buena, but at the picket line in front of the Philippine Airlines In-flight Center in Pasay City.

"Wala pa kami pamasko, pero lagi ko sinasabi sa mga anak ko ang Pasko ay para kay Lord... Dito kami magpa-Pasko," Teng Jalbuna, whose husband worked at PAL's catering department for 20 years, told abs-cbnNEWS.com.

Image Credit: www.travelph.com

It has been 3 months since Jalbuna's husband and some 2,600 PAL workers were laid off as a result of the flag carrier's outsourcing program. PAL implemented the outsourcing of its catering, call center reservation and ground crew operations on October 1.

PAL Employees Association (PALEA), the ground crew's union, opposed the plan and continued their fight, holding a wildcat strike that paralyzed its operations in late September. The members also set up a protest camp in front of the airline's In-flight Center in October and they remain there until now.

Many refused to get their separation pay and did not sign up to work for the outsourcing companies designated by PAL.

Nearly 3 months since they lost their jobs, PALEA members and their families are showing a united front by spending Christmas Eve and Christmas Day at their makeshift camp. An anticipated Christmas mass will be held at the camp on Saturday, with Bishop Broderick Pabillo, director of CBCP’s National Secretariat for Social Action, officiating.

"Ang sa akin, prinsipyo na lang. Apat ang anak ko, maliliit pa. Kung may ma-ospital sa amin, malaking bagay sa amin yun medical benefits. Eh ang separation pay napakaliit. Ang pera madali maubos, pero ang trabaho ang kailangan namin... Kung hanggang matapos ito, lalaban kami," Jalbuna said.

Farhana Sarip, a Muslim who worked as a PAL Arabic translator for 20 years, was one of those who did not accept the offer to become a contractual employee with the new service providers.

"Regular employee na ako, tapos biglang magiging contractual, di naman kami papayag," said Sarip, who used to earn P23,000 a month and was offered only P11,000 a month by the service provider.

Sarip said PAL continues to ask her to come back to work, but it was her husband who told her to remain strong and continue the protest.

PALEA president Gerry Rivera said 2011 was a "turbulent" year for PAL and its workers, but is confident the PAL workers will be vindicated in the courts.

PALEA has asked the Court of Appeals to set aside the resolutions issued by Malacanang and the Department of Labor and Employment that gave the go-signal for PAL to spin-off its catering, ground handling and call center reservation departments. The labor group wants the outsourcing and termination of the PAL employees be declared illegal.

Rivera hopes the court cases would be resolved soon, but noted PALEA will continue their fight for as long as they can.

"Ang laban na ito ay hindi lang sa PALEA, ngunit para sa mga Pilipinong manggagawa (Our fight is not just PALEA's but for all of the Filipino workers," he said.

Optimistic about the future

However, PAL maintained the outsourcing program was needed to stem the losses it has been incurring.

In 2008 and 2009, PAL lost $312 million. In 2010, PAL posted a $72.5 million comprehensive net income. However, in the first quarter of the current fiscal year, PAL posted a $10.6 million loss.

PAL president Jaime Bautista was earlier quoted by BusinessMirror as saying the protest arising from the implementation of its outsourcing program affected the entire operations of the airline. He noted its third quarter financial performance would be badly affected by the higher cost of jet fuel and the workers' protest.

"Because of the strike, our performance will be affected in terms of revenue and profit. It may also affect our entire fiscal year," said Bautista.

However, PAL seems to be optimistic about the future. The company said operations are now back to normal and passenger confidence has returned in time for the Chr istmas peak travel season.

PAL is trying to protect its international market, which account for up to 70% of its revenue. "We continue to protect our mature international market such as South Korea and Japan. Hopefully, load factor will hit the high 80 percent this December and a good growth in January and February of next year,"
Bautista said.

PAL said there has been a very good response to its biggest ticket sale promotion this month, a sign of renewed customer confidence. The airline offered low-priced fares to all its domestic and international destinations, as low as $30 to Hong Kong and $498 to the US.

PAL is hoping for a smooth ride next year, but the labor problems with PALEA continue to hover in the horizon and may cause some turbulence in the future.

source: ABS-CBN News

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Philippine economy faces growth threats in 2012

Philippine economy faces growth threats in 2012

According to ABS-CBN News Report, the Philippine economy is facing major risks from abroad that could limit its growth prospects next year, the central bank governor said Wednesday.

Image Credit: BusinessManagementPhilippines

Although the country enjoys "sound macro economic fundamentals," and strong domestic demand, the economy could still be hurt by developments in Europe, the United States and China, central bank governor Amando Tetangco said.

"The 2012 global economic outlook has deteriorated," he said, warning that there would be more volatility and uncertainty that could affect the Philippines.

"Although economic growth has slowed, we have not seen a contraction" in 2011, he told a forum of foreign correspondents.

The economy grew by 3.6 percent in the first nine months of the year, though the government maintained its full-year target of 4.5-5.5 percent, pinning its hope on a $1.66 billion state spending programme launched in October.

Next year's official growth target is 5-6 percent.

Tetangco said fears of an escalating debt crisis in Europe, the continuing weak US labour market and the risk of a slowdown in China could weigh on Philippine growth prospects in 2012.

They could result in a drop in trade, investment and official aid, he said, warning that even earnings from the country's booming outsourcing industry and the remittances of nine million Filipino workers overseas could be affected.

Leave your feedback about this article in the comment box below. 

source: ABS-CBN News

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Floods in Mindanao Kill Hundreds (Philippines)

Floods in Mindanao Kill Hundreds (Philippines)

According to Minda News, the death toll in the cities of Cagayan de Oro and Iligan as of Saturday evening has risen to 327.


The flash floods in Mindanao caused by heavy rains brought by TropicalStorm Sendong left at least 320 people dead and 260 persons missing, reports said. 

Image Credit: guardian.co.uk

CDO’s City Disaster Risk Reduction and Management Council (CDRRMC), which relies on on official lists provided by the health department, reported that 71 died as of Saturday noon, but local radio stations aired that more than 250 cadavers of drowned person have been brought to funeral parlors there.

In Iligan, city mayor Lawrence Cruz reportedly said at least 90 bodies were recovered after heavy rain swelled the river and sent muddy floodwaters cascading down to the city from nearby mountains.

Cruz said, according to reports, that more than 200 people were reported missing with some believed to be dead.

A situational report from the National Disaster Risk Reduction and Management (NDRRMC) as of 6 p.m. Saturday revealed that 131 persons have been found dead, 3 people injured and 269 others remain missing in all affected areas.

More than 400 persons have been rescued, the NDRRMC added. The cities of Cagayan de Oro and Iligan were places under State of Calamity.


Leave your suggestions/concerns towards this news in the comment box below.

source: Minda News

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