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Actually the title of this column should perhaps be “What’s really behind the numbers.” Because it is only by looking at what makes up the numbers that you can truly understand what is going on. For example:
Yesterday, the business headlines from the other dailies told us that the Philippine international foreign reserves hit a record high of $41 billion. Wow, isn’t that great? Except for one thing. As usual, only BusinessMirror told the true and full story. Reserves rose to this level because of the takedown of $1 billion worth of SDR or special drawing rights.
SDR are an interesting monetary instrument. It is sort of an interest-free loan given to a country by the International Monetary Fund (IMF). But it is not a loan. SDR are more of an accounting entry that is put on the books of a central bank. The purpose of the SDR is to allow a country to pay off foreign obligations such as for trade purposes using the SDR instead of hard currency or gold. The SDR represent an amount of money that the Philippines, for example, could draw down from the International Monetary Fund (IMF) to pay its foreign bills without having to actually put cash on the table to settle the transaction. The IMF might or could loan money to a country to settle the SDR obligation. Call it sort of a credit line that you never have to use.
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September 25, 2009
Senate-House panels OK bill adding 9th ray to RP flag
GMANews.TV - Thursday, September 24
The country’s national flag will soon have nine rays in its sun instead of only eight. The Senate and House of Representatives are expected to ratify next week the reconciled version of Senate Bill 3307 and House Bill 6424 which provides for the inclusion of additional ray in the sun, Senator Richard Gordon told GMANews.TV Thursday.
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September 16, 2009
As students, we were taught in school that our country is rich in natural resources. Likas na yaman as they call it in our native tongue. Our mountains have gold, silver, coal, nickel just to name a few minerals. Our seas have oil and natural gas. Moreover, we have fertile soil for our farmers. But why is it that Juan dela Cruz does not have life’s necessities? Is it because we are not utilizing these resources, or we do not have the money and technology, or maybe because we have both but then we are forgetting the third part, which is to protect the nature. Personally, I see mining as an octane for our economy. We should take advantage of our resources and benefit from it more than other people. Today, we have the funds through the Mining Act, we have the technology to extract our minerals while making the least damage to our environment, and we have the manpower to operate it. Let’s be true to ourselves, we cannot “extract” these resources and put it to good use without altering nature. Just as getting oil in the middle of the sea without drilling and altering the balance of nature. (more…)
September 14, 2009
Special Report The Philippines’ 40 Richest08.25.09, 11:00 PM EDT  
 
Source:
Forbes.com Photo Credits: Henry Sy by Jay Directo/AFP/Getty Images Lucio Tan by Nat Garcia/AFP/Getty Images Jaime Zobel de Ayala by Unclaimed
The World’s Billionaires Edited by Luisa Kroll, Matthew Miller and Tatiana Serafin, 03.11.09, 06:00 PM EDT The richest people in the world have gotten poorer, just like the rest of us. This year the world’s billionaires have an average net worth of $3 billion, down 23% in 12 months. The world now has 793 billionaires, down from 1,125 a year ago.
After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list’s slots, up seven and three percentage points from last year, respectively. Bill Gates lost $18 billion but regained his title as the world’s richest man. Warren Buffett, last year’s No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50% in 12 months. Mexican telecom titan Carlos Slim Helú maintains his spot in the top three but lost $25 billion.   
August 31, 2009
Left and right we hear money managers say that the economy is set for a rebound after almost experiencing a national recession. Although many - if not all, industrialized countries and emerging economies suffered recession, we were luckily spared. As I was reading the business section of the Philippine Star yesterday, I saw an article which caught my attention. Another green flag on the economy.
Looking back, this was not the case about a month ago. In a statement, Romulo Virola - senior official of the economic planning ministry said this “The Philippine economy is now teetering into recession.” To which then Economic Planning Adviser and NEDA Chair Ralph Recto disagreed to.
I quickly checked the net and I found a very similar report, here it goes: (dear writer, pardon me for highlighting some words in the article)
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August 25, 2009
Metrobank profit up 11%
Gerard S. dela Peña, Business World, August 17, 2009
 TY-LED Metropolitan Bank and Trust Co. (Metrobank) said its net income jumped by a little over a tenth in the first half due to sustained growth in its lending and treasury operations.
In a statement released during the weekend, Metrobank said its net profit for the six months ending in June grew by around 11% to P3.1 billion from P2.8 billion in the same period last year.
“Interest margins and trading gains contributed strongly to the bottom line even as we provisioned aggressively and improved our cost income ratio,” Metrobank President Arthur V. Ty said in the statement.
“Our performance for the first half of the year reflects our continued focus on risk management and operational efficiency.”
Metrobank, the second largest lender in the country, said its net interest income or earnings from lending activities and held-to-maturity investments grew by 30% to P13.8 billion during the period as growth of low-cost deposits made funding of loans cheaper.
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Banks’ NPL ratio hits 3.36% in June, lowest since October 2001
By IRIS C. GONZALES
The Philippine Star, Saturday, August 15, 2009
The country’s universal and commercial banks’ recorded its lowest non-performing loan (NPL) ratio in June, hitting 3.36 percent, the lowest figure since October 2001 when the ratio peaked at 18.81 percent, the Bangko Sentral ng Pilipinas (BSP) [Central Bank of the Philippines] reported yesterday.
The 3.36 percent ratio was lower by 0.33 percent point than the 3.69 percent recorded in May; And by 0.65 percentage point from the year ago figure of 4.01 percent.
The BSP said the ratio improved as banks’ total loan portfolio improved alongside the decline in bad loans.
Bad loans decline by 5.18 percent to P84.62 billion from the previous month’s P89.25 billion while banks’ total loan portfolio grew by 4.09 percent.
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August 7, 2009
I have been out for some time. Months really! I wasn’t able to post on this blog due to other things on my priority list. For my readers, I did miss putting things up on this site. Hopefully, I can post more often now.
Couple of days ago, I received a text from an anonymous number, asking me to vote for Candidate #8 of Mutya ng Pilipinas. Then, I read Jen’s name. “Woahh!! Galing! Tinotoo nga” although it is not the Binibining Pilipinas Pageant that she’s competing in right now – because I was joking her of giving me a ticket if she plans to join the said competition, the Mutya ng Pilipinas Pageant is equally fulfilling and grand for a young lady like her.
Sign-up and Vote for Jen (Candidate #8)
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May 19, 2009
For months, we have been reading good news about the Philippine economy: how the country seemed to be “recession-proof”, Sec.Gary Teves being named as Best Finance Minister in Asia, strengthening of the currency, and the rebound in the local stock market. Last Saturday, Philippine Daily Inquirer has on its headline something good about the current president. After all, she’s still a fine economist. Let’s read about it.
‘CUTE ECONOMIST’ *
Arroyo tops RP Presidents on economy—UA&P
By Vincent Cabreza
Inquirer Northern Luzon
First Posted 03:20:00 05/16/2009
MANILA, Philippines—Which of the Philippines’ most recent Presidents succeeded in strengthening the economy and has the chance of having his or her economic legacy appreciated by future generations?
Will it be the “the lawyer, the housewife, the general, the actor or the cute economist?”
President Gloria Macapagal-Arroyo, the cute economist, is the winner, according to economists from the University of Asia and the Pacific (UA&P) at a briefing hosted by the Bank of Commerce in Baguio City last Thursday.
Each President’s performance was assessed in the context of the historical environment in which they ruled, said UA&P professor Emilio Antonio Jr., who is also president of the Center for Research and Communication Foundation.
Ms Arroyo, who has often said that she would want to be remembered for her contributions to the economy, may well be right, gauging by the relatively good health of businesses in northern Luzon, according to economist Ramon Quesada, former director of the UA&P School of Economics.
Economy moves
Antonio said it was during Ms Arroyo’s watch that the Philippine economy “definitely moved on” after the crisis of the martial law years.
According to Antonio, Ms Arroyo should be credited for the Philippines’ improved income and spending balance and manageable inflation rate.
This was a turnaround for the country after it was “brought to great heights and then great depths” by the “lawyer,” the late dictator Ferdinand Marcos, in the 1970s, Antonio said.
The “housewife,” President Corazon Aquino, tried to restore the economy but did not succeed, Antonio said.
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April 15, 2009
VIRTUAL REALITY
By Tony Lopez
The Philippines is not that poor*
The statistics and the analyses on poverty incidence in the Philippines are distressing. They will make you grab the nearest paltik and shoot the politician next to you.
My contention, however, is that the Philippines is not that poor. The Pinoy is not that poor. And yes, we need the politicians. Just look at how that priest in Pampanga is running the local government.
Why do I say the Philippines is not that poor? Let me cite some data:
1. The Philippines is a large country and a large economy. The population is 92 million, the 12th largest in the world. Only China, India, the US, Indonesia, Brazil, Pakistan, Bangladesh, Russian Federation, Nigeria, Japan and Mexico are bigger.
We are the same size as Vietnam. We are bigger than Germany 82.7 million, Thailand 65.3 million, France 60.9 million, the UK 60 million, Italy 58.2 million, Korea 48 million, Spain 43.6 million and Argentina 39.5 million.
The Philippine gross domestic product in purchasing power parity is worth $327 billion, according to the World Bank 2008 World Development Report and $319 billion, according to the IMF World Economic Outlook October 2008. That makes it the 36th largest economy in the world, out of 200 countries. The Philippines is the ninth largest economy in Asia.
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April 8, 2009
One of my favorite places, if not my favorite, are the bookstores. I specifically love Powerbooks because they allow customers to try to read the books almost indefinitely. Whenever I visit one of their branches, this are the times I would get hold of expensive books which I wouldn’t want to purchase even if I want to. Mahal kasi. haha! Yesterday, I was able to read some pages of ‘A Weekend with Warren Buffett: And Other Shareholder Meeting Adventures” by Randy Cepuch.
Here, the author shares his experiences attending annual shareholders’ meetings in different places, one of which is Berkshire Hathaway - Buffett’s conglomerate. Mr. Randy candidly admitted that in 1999 he bough a single share of Berkshire - his first ever stock. He also recalls his face-to-face encounter with the “Oracle of Omaha.” I hope my cousin was not rushing yesterday that I get to read more pages.hehe!
Speaking of shareholders’ meeting, the PSE has some advice. Read the article below.
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April 7, 2009
Congratulations to all the new lawyers especially to Kuya Nonoh! Ang lupit talaga! treat naman dyan attorney! hehehe! Congrats from all of us in LDS!
A total of 1,310 have passed the 2008 bar examinations, the Supreme Court announced.
612. HAMOY Owlette Christine Jill D
613. HARON Noharddin M*
614. HASSAN Najira S
615. HASSIMAN Jalsidrie T
*Atty. Noharddin Haron joined the Lyceum Debate Society in 1999. He served as Grand Chancellor of the elite organization in 2002-2003. Atty. Haron graduated cum laude with a degree of Bachelor of Science in Foreign Service major in Diplomacy where he was the top student of his batch and the recepient of presidential award for academic excellence. He took his law degree in San Beda College.
**I’m close to certain with my infos about him. Simpleng mayabang kasi si Kuya Nonoh kaya nung tinanong ko sya before, ayaw sabihin.haha! peace!
January 5, 2009
This morning, I found this article from Inquirer.net by Dr. Cielito Habito. For quite sometime, I’ve been reading his articles from PDI and surely, it always gives me this gem of wisdom at the end of the day.
We’ve been hearing the term “Buy Filipino Products”, “Buy Local Goods”, etc-etc., but still misses the significance of it. In this article of his, Prof.Habito gives us another example of how buying local products could also help our neighborhood economy. Enjoy the article and Happy and Prosperous New Year to all.
No Free Lunch
Looking forward, looking inward
By Cielito Habito
Philippine Daily Inquirer
First Posted 17:57:00 01/04/2009
THE MONTH OF JANUARY was named by the Romans after Janus, the mythological god of doors and gates. What distinguished him was his ability to see both the past and the future, and was thus depicted as having two faces, one facing forward and the other backward. The first month of the year is indeed a time when we all look behind at the year just past, and anticipate what lies ahead. As usual, the economy dominates the picture in any such assessment, and as in any aspect of our lives, the way forward is always informed by lessons and experiences of the past.
Everyone knows by now that it has been a challenging year on the economic front, and the general outlook is a potentially even more challenging one in the year ahead. The constructive thing to do is to think of what we can do to minimize, if not avert, the difficulties to be brought upon us by the expected worsening of the economic downturn now afflicting the biggest economies of the world.
Looking inward
Many see the current challenges as being closely associated with, if not caused outright by that big bad G word, globalization.
Globalization is indeed a two-bladed sword. On one hand, we have benefited in past years from positive economic developments abroad, especially the rise of China and India as major economic powerhouses and how this also helped the traditional major economies of North America, Western Europe and Japan.
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Top tips on how to handle money in 2009
INQUIRER.net
First Posted 17:55:00 01/04/2009
MANILA, Philippines–The year 2008 has been a challenging year. Oil soared high triggering an increase in prices of commodities from rice and sugar to canned goods and bread.
But it also slumped, resulting in rollback of prices at the gas pump and in transportation fares.
Inflation reached double-digit levels but recorded its lowest low as well. It was this year that the world felt the effects of a global financial crisis.
Thousands of workers in many countries have lost their jobs and homes as corporations and financial institutions buckled under the financial crisis.
Filipinos are not exempted. Crisis is in the air and many are taking stock and preparing for what may lie ahead. That includes managing finances better.
Some finance-savvy people share below how they are handling their finances in the midst of a global financial crunch:
Question: What have you done this year to manage your finances better?
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January 3, 2009
  A young man goes off to college, but about 1/3 of the way through the semester, he has foolishly squandered away all of the money his parents gave him. Then he gets an idea. He calls his daddy. “Dad,” he says, “you won’t believe the wonders that modern education are coming up with! Why, they actually have a program here at college that will teach our dog Fido how to talk!” “That’s absolutely amazing,” his father says. “How do I get him in that program?” “Just send him down here with $15,000″ the boy says. “I’ll get him into the course.” So, his father sends the dog and the $15,000. (more…)
January 2, 2009
Nice Logic:
Do you know why so many marriages do not last?!
Because at the wedding..
The bride doesn’t marry the
“Best Man”
*Message forwarded to me by a friend.
**Photo lifted from Royal Victorian Weddings
December 30, 2008
Earlier, after hearing the morning mass, I had my breakfast in Mc Donald’s and took my free PDI. “Oh yeah!” was what I said to myself after seeing the title of Conrado de Quiros’ commentary.
Exactly 6 years ago when GMA told us, and most believed her for it, that she won’t be running for presidency come 2004 elections. Oh, what can I say… Allow me to put on bigger font statements from her speech in this commentary by Mr. de Quiros. Enjoy the political carnival at its best!
There’s The Rub
Six years ago today
By Conrado de Quiros
Philippine Daily Inquirer
First Posted 00:07:00 12/30/2008
Six years ago today, Gloria Macapagal-Arroyo delivered this speech. It is worth remembering today not just because history is always worth remembering but because it is history that eminently, and imminently, stands to be repeated today. The latter part of the speech went:
“As we honor Jose Rizal today, it is fitting that I ask each Filipino to also sacrifice for our country.
“In recent years, our fundamental weaknesses have been revealed in ways that are worrisome to broad sectors of our citizenry.
“In the economy, ever since the Asian crisis in 1997, our public revenues have been steadily declining in relation to the size of our economy. This has led to persistent budget deficit.
“In society, we have become a nation deeply divided, symbolized by the polarity between EDSA [People Power] II and the May 1 siege barely three months after EDSA II.
“And in governance, there is now too much politics hampering good, productive governance.
“The convergence of the national stresses such as these has led to the sense of gloom that many of our citizens now talk of. There is a feeling of too much negativism and conflict in our society.
“In the coming weeks, we will be launching a series of powerful, positive actions that will improve the life of our people. Major announcements will be made in January.
“However, we also know that we will soon enter the political period leading up to the elections in 2004. My reading of the political winds tells me that the 2004 election may well go down in history as among our most bitterly contested elections ever. This is because of the deep social and political division that we now have.
“If this is true, then sincere efforts to launch programs will run the risk of being derailed by political fighting leading up to the elections.
“The government in place after 2004 may merely end up inheriting a country as deeply divided as ever. Consequently, we may end up stalling national growth for a few years more as a result of lost momentum.
“In view of all these factors, I have decided not to run for president during the election of 2004.
“If I were to run, it will require a major political effort on my part. But since I am among the principal figures in the divisive national events for the last two or three years, my political efforts can only result in never-ending divisiveness.
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December 29, 2008
Browsing Youtube to recall the Marine Stand-off led by Col. Querubin, I came across this documentary video of Dateline. Thanks to journeymanpicture for posting this video entitled The Manila Conspiracy - Philippines. There are many other good videos of him, but let’s take a closer look at this one first.
As we commemorate Dr. Jose Rizal’s martyrdom tomorrow, let’s ask ourselves if indeed we are truly free as a nation.
*Video available in Youtube
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