MikeLigalig.com

President Benigno S. Aquino III has cited the initiatives of the Philippine Bowling Congress to develop the country's bowlers into world-class athletes.

"Sports play an important role in promoting the values of discipline, camaraderie, and excellence. Thus, events like yours are truly welcome undertakings, as they hone the talents and fortitude of our countrymen according to world-class standards, and foster solidarity with their fellow athletes worldwide," the Chief Executive said in his message to the Philippine Bowling Congress on the occasion of the 41st Philippine International Open Tenpin Bowling Championships on Sunday.

The Philippine Bowling Congress is the national governing body for bowling in the Philippines.

"Be proud of your distinction as one of Asia’s longest running bowling tournaments, even as you secure your advantage of attracting the best competitors around the globe," the President said.

President Aquino expressed hope that the event continues to serve as a venue that develops the country's promising young talents in this sport. He also called on all the players of the bowling tournament to continue working hard to attain victory not only locally but also in the international competitions. - pna

By Lilybeth G. Ison

Before leaving for Laos to attend the 9th Asia-Europe Meeting (ASEM 9), President Benigno Aquino III on Sunday swore in Jose Rene Almendras as secretary to the Cabinet and Leyte Governor Carlos Jericho Petilla as the new Energy Secretary.

The oath-taking of the two officials took place at the Ninoy Aquino International Airport departure area.

Almendras, who was included in the 61-member Philippine delegation to the ASEM 9 to be held Nov. 5-6 in Laos, said his new appointment was not a line, but a staff position.

"You will not even see me. We are a staff function. We completely disappear into the bureaucracy," said Almendras in a chance interview before leaving for Laos with the President.

"The line positions are very clear. The Presidential Management Staff and the Office of the Executive Secretary -- those are line functions," he said.

The former Energy Secretary said his being a staff position did not in any way conflict with any of the line position.

"It's a whole structure on how somebody below the secretary level is actually working together with the others to create a more dynamic process. So my position doesn't conflict with any of the line positions," he said.

On the other hand, Petilla, in an interview after the oath-taking, said he cannot promise anything yet as to what he is planning to do with the Energy Department.

He, however, vowed he will do the best he can to solve the country’s energy problems, particularly the power outages in Visayas and Mindanao.

Replacing Petilla as Leyte governor is vice governor Ma. Mimiette Bagulaya.

Meanwhile, in his departure statement, President Aquino said he would push for the strengthening and protection of overseas Filipino workers’ rights and energy security at the meeting.

The President said he would also meet with the Filipino community in Laos, shortly after his arrival there, and tell them the good news about the Philippines.

The Department of Foreign Affairs earlier said President Aquino was expected to conduct bilateral meetings on the sidelines of the summit with counterparts from the European Council, European Commission, Italy, Norway, Poland and Switzerland.

The President will also engage relevant European partners to firm up support for the development of the Bangsamoro entity provided for by a Framework Peace Agreement between the government and the Moro Islamic Liberation Front. - pna

CPG Day Observance

by pna

The Philippine Football Federation (PFF) and Smart Communications, Inc. have launched the PFF Smart National Club championship in Cebu, hoping to duplicate the strong turnout during its initial staging last year.

”There was really a strong response when we held it in Cagayan de Oro last year,” said Smart sports manager Epok Quimpo, who said the games in Cagayan attracted a full stadium almost daily.

To duplicate that, this year, the Smart National Club championships will have cluster and regional eliminations outside of Manila and quarterfinal matches could also be hosted in the provinces.

There will be two clusters for Luzon, one for Visayas, four for Mindanao and one for the National Capital Region.

After the cluster eliminations, there will be a Luzon, Visayas and Mindanao eliminations, where the top two teams will advance to the quarterfinal round along with the top 10 teams that are participating in the UFL Cup.

There will be another drawing of lots for the quarterfinal round and if a provincial team will face a UFL club, that game will be hosted by the provincial FA.

The Visayas eliminations, initially scheduled on Nov. 7 to 11, could be moved to a later date.

”This is a chance for PFA teams to face UFL clubs,” said Quimpo.

PFF competitions chairman Cyril Dofitas said that to help boost the PFA teams who make the quarterfinal round, they will have a transfer window that will allow the teams to add or drop eight players for their 25-man squad.

Last year, global FC-Teknika of Dan Palami won the two-leg title over Smart San Beda, which was led by Phil and James Younghusband, earning the P100,000 prize.

However, team owner Dan Palami said they have yet to receive the prize money.

This year, the Smart Club championship has doubled the prize money to P200,000 and Quimpo said the tournament is part of Smart’s P80-million financial aid to the PFF which was announced during the 2011 PFF Board of Governors’ meeting in Cebu.

”Every year, we will have this and every year we will make it better,” said Dofitas.

Dofitas, a veteran official from the PFF who has overseen numerous national tournaments, said he is hoping a team in the Visayas region will make it all the way to the finals.

”We welcome the participation of our Visayas football associations. We have witnessed great progress in the local football scene and we’re hoping a team from this region can make it to the finals,” he said. “In the Visayas, it’s still anybody’s ball game.”

Dofitas also said foreign players will be allowed in the tournament.

”Good foreign players can elevate the level of the game,” he said.

In the Visayas, Cebu Queen City United-representing the Cebu Football Association, will be competing with traditional powerhouse Negros Oriental, Negros Occidental as well as Iloilo and Leyte FA.

”Queen City has been practicing every day, even if we don’t have any games. We have been working on the stamina aspect,” said Queen City United president Stanley Villacin.

by pna

The University of St. La Salle defeated University of Negros Occidental-Recoletos clinching anew the 32nd edition of Negros Occidental Private Schools Sports, Cultural and Educational Association (NOPSSCEA) football title at the North Ayala Point football field in Talisay City Sunday.

Carrying the team of Ceres-La Salle, they made it back-to-back after winning the title last year.

La Salle demolished NOPSSCEA champion West Negros University, 7-0, in the first round and 5-0 in the second round.

UNO-R finished second this year while WNU landed at third.

Scoring goals for Ceres-La Salle in Saturday’s game were Aldrin Dolino in the 30th minute, Paulo Sanchez in the 50th, Joel Bedia in the 56th, and J. Baguioro in the 90th.

Former national coach Freddie ‘Nene” Lazarito coached the team with back up from transport magnate Leo Rey Yanson, a former La Salle football player.

Playing for the team are: Jurex Replentes (goalkeeper), Jimmy Malalo-an, Anthony Tongson, Florence Agraviador, Paolo Mendoza, J Baguioro, Joel Bedia, Angelo Abollan, Ralph Layumas, Aldrin Dolino, Paolo Sanchez, Norman Seloterio, Lope Mayagma, Marson De la Torre, John Margarse, Ronnel Yosores, Jericho Albino, Warren Bedia, Joshua Dutosme, and Rio Fegidero.

by pna

Seven-time NBA All-Star Tracy McGrady said Wednesday he is looking forward to playing in China after Qingdao DoubleStar Eagles offered him a one-year contract.

"There are times in life that a new road presents itself and it appears this tie has come for me now," McGrady wrote in his blog Wednesday.

"I am so proud of what I have accomplished these past 15 years playing in the NBA."

"As I enter this next chapter, I am excited to play for Qingdao Eagles in China. I have been to China several times in the last few years and I love the people and the country."

McGrady, 33, is expected to leave for Qingdao within the next seven to 10 days, according a report by Yahoo!Sports.

McGrady failed to secure an NBA contract for this season after he averaged 19.6 points, 5.6 rebounds and 4.4 assists in his 15-year in NBA.

The 2.03-meter forward most recently signed with the Atlanta Hawks as a free agent last year.

When Qingdao Eagles general manager Sheng Xishun extended the invitation, McGrady decided to give it a try in China.

Sheng said McGrady could play a valuable role in his team despite his injuries.

"He is such an excellent player, with great talent and so much experience and impeccable techniques. It will be a great pity if he just finishes his career like this," Sheng was quoted as saying by Chongqing Times.

"We have a young team, and we need him for all that."

Sheng admitted that the injuries could be a potential threat to their investment but said every player can be victim to injuries.

"It is a risk we must take," he said.

McGrady will land the Chinese Basketball Association league as the highest profile player and be treated like a distinguished guest.

The club will offer him a five-star hotel suite or a high-end condo, Jinan Times reported.

"We would like to ensure he has a pleasant stay in Qingdao," Sheng said, according the Jinan Times.

McGrady's new teammates also are ready to give him a warm welcome as team captain Li Guang promised to show him around and introduce delicious food to him.

"He is sure to be the No.1 player in the team," Li Guang was quoted by Jinan Times.

"I think we can learn much from him."

"I hope I can help him become adapted here. If he is interested in Chinese food, I am glad to introduce some local snacks," he added.

Even before McGrady set foot on Qingdao, he already has a large fan base, not only because his glorious days in NBA, but also because he once played alongside Yao Ming, one of the country's most popular sports figure, during his six seasons with the Houston Rockets.

McGrady is the latest of several NBA players who have sought to revive their flagging careers in China.

Two-time All-Star Stephon Marbury led the Beijing Ducks to their first-ever Chinese championship last season.

by pna

Assessing some 115 kasibulan grassroots football courses and sports festivals conducted across the country, Aquilino Pastoral III, Philippine Football Federation (PFF) national grassroots program adviser, remarked that the grassroots football development program augurs well in transcending cultural differences.

“It was heartwarming to witness some parts in Mindanao where in one camp had soldiers train and play football with their kids, while in another, children of the Moro Islamic Liberation Front (MILF) also had their field day on football.”

“Ake” Pastoral made this observation during a visit here Wednesday as he announced for a Calamba City-wide “5V5 Football Grassroots Challenge” on Sunday morning at the Don Dosco College in Canlubang to ensure a solid, competitive grassroots-based football sports program embracing an inter-cultural football environment.

He said the PFF-led sports event aims to conduct grassroots football seminar for kids, much like a circuit training and sports clinic and organize football teams for the teen players in Canlubang, home of the young football sports champs â€" Schwarz Football Club.

“This basic training program is patterned after the Japanese 5V5, 8V8 â€" age brackets so they could learn football skills and maximize space including mentoring teachers and coaches so they would eventually echo the training for the kids,” Pastoral explained.

Calamba’s grassroots players from barangays Canlubang, Lawa, Turbina, Laguerta, Real, Lecheria, Halang and Paciano are expected to participate in the event.

He also looked forward to the participation of the “Calamba Puppies” â€" this city’s homegrown offspring version of the Philippine Azkals.

“We see how the kids developed the excitement and the “idol image” on the Azkals, sasabayan natin sila as the kids grow, learn, be honed and focused on their skills in succession to form a strong and competitive National Team,” Pastoral said as he expressed optimism on the PFF’s national macro-view strategy to start them young at the grassroots level.

Since the successful launch of the PFF Kasibulan Grassroots Football Program in February this year, about 38,000 Filipino youth and children ranging six to 12 years old are now into football sports and still counting.

Graced by His Royal Highness Prince Ali Bin Al Hussein of Jordan during the historic launching, the Kasibulan grassroots football program has since made strides as PFF sustains the training of thousands of young football players with the support of its 33 provincial football associations.

The program also covers the mentoring and accreditation of some 5,300 coaches and teachers with their grassroots badges, conducting the FIFA-sanctioned grassroots courses and hosting close to 200 sports fests to 44 venues by month’s end.

The Royal Prince’s Asian Football Development Program made headway for the football program funding and provision for equipment.

PFF has also forged the memorandum of agreement with the DepEd last July for the conduct of the grassroots football courses throughout the country in line with the schools K+12 curriculum development.

Pastoral also praised the Laguna Football Association for sending in their local coaches and trainers who have organized training schedules with the support of the local government units (LGUs) and the private sector.

The PFF grassroots football development program is now implemented in Calamba, Santa Rosa, Sta. Cruz, Cabuyao, Victoria and soon in Los Baños.

“We aim to reach as many as we can and thank the Philippine Amusement and Gaming Corporation (PAGCOR) for being instrumental for the program’s P20-million funding to promote football across the country,” Pastoral said.

As PFF aims to strengthen the base of Philippine football at the grassroots, Pastoral added that the program also encourages participation of the girls and ladies who he observed to “have less interest in this sport mainly because of the perception that football is a male’s game.”

He also relayed the PFF appreciation to PAGCOR’s enormous support through its Chairman and CEO Cristino Naguiat Jr as the PFF and the government corporation partnership assessed the positive results during the first eight months of the Kasibulan football program.

Pastoral lauded PAGCOR’s continuing support to the development of the country’s sports at the grassroots as he received the huge turnout of Filipino children and youth mobilized by the PFF’s grassroots development officers in the regions.

by pna

Nineteen-year-old swimming ace Ma. Claire Adorna of the University of the Philippines will be sent to carry the country’s colors in a goodwill swim meet in Xiamen, China later this month and Shanghai early next month.

In an interview, Philippine Swimming League (PSL) president Susan Papa said Adorna was selected after dominating her events in the recent University Athletic Association of the Philippines (UAAP) swimming meet at the Trace College in Los Banos, Laguna.

Adorna is a product of the privately-funded PSL development program powered by the University of the Philippines pool sharks, Diliman Preparatory School (DPS) and PSL campaigners who bested their Philippine Aquatics Sports Association (PASA)-affiliated counterparts in dominating the recent UAAP competitions.

Papa said Adorna won four gold medals as the UP pool sharks romped off with the overall championship in the women’s side of the UAAP meet.

During the meet, Adorna bested members of PASA’s national training pool in all her gold-medal rampage in the 200-meter freestyle, 50â€"meter backstroke, 100-meter backstroke and the 50-meter freestyle.

The dusky, 5-foot-8 stunner from Marikina City, in fact, broke the UAAP record in winning the 100-backstroke in a fast one minute and 05.45 seconds that could have qualified her in the First Southeast Asian Swimming championships held in Singapore before last year’s Olympic Games.

Like the fate suffered by her teammates at PSL, PASA, the entity recognized by the Philippine Olympic Committee (POC), did not allow her to participate in the prestigious event.

“Sayang nga po, kasi feeling ko I can give a good account of myself and do our country proud had I been given permission to compete,” the UP foreign language sophomore and second of third children of Paul and Juanita Adorna lamented during last Friday’s SCOOP session at the Kamayan Restaurant in Padre Faura, Manila.

In her march to victory in the century backstroke, Adorna survived the challenge put up by PASA pool members Keizia Elise Sarmiento and Ana Celina Gonzales, both of Ateneo, who could only settle for a bronze and fourth place finishes, respectively.

Adorna’s PSL teammate Jacklyn Junio made it a 1-2 gold-silver finish for UP in the event.

Adorna completed her domination of Sarmiento and Gonzales in the 50m backstroke even as she also stashed away with the gold medals in the 50m freestyle and the 200m freestyle both at the expense of other PASA tankers Jasmine Ong and Kim Uy.

Aside from Adorna, sharing the honors were Delia Angela Cordero who snatched the MVP honors in the women’s senior division and Pricila Aquino in the junior girls category.

Besides crowning herself the MVP in the women’s play, Cordero was also adjudged the Rookie of the Year on the strength of her smashing triumphs in the 400m individual medley, 200m butterfly, 200m individual medley, 400m freestyle and 100m butterfly.

by pna

Basketball-crazy Filipinos in the Royal Kingdom of Saudi Arabia will finally have the chance of seeing anew their cage heroes with the visit of the PBA Legends in a series of exhibition and goodwill games on October 24 to November 2.

The PBA Legends games, to be played in the cities of Dammam, Jeddah and Riyadh, will be in connection with the the annual celebration of the Hajj season on Oct. 24-29 in Saudi Arabia. Hajj is the pilgrimage to Mecca and is one of the greatest religious observances in Islam.

The program, according to PBA Legends USA Foundation secretary general Ruffy Ignacio, is supported by His Royal Highness Prince Nawaf bin Faisal bin Fahad, President General of Youth Welfare, Ministry of Sports and Welfare of the Kingdom.

The project is also aimed at strengthening athletic and cultural ties between the host country and the Philippines. Select local teams from Saudi Arabia will participate in the program.

The program is being managed by Coordinations Est. Company, in cooperation with various regional Filipino basketball organizations in Saudi Arabia -- the Pilipino Basketball Association (PBA) in Dammam, Overseas Filipino Basketball League (OFBL) in Jeddah and the Philippine Arabia Basketball Association (PABA) in Riyadh, Ignacio disclosed.

The program is under the overall leadership of Fahad Ibraheem Al Sekaity and Abdul Aziz Virgilio "Jawo" Dizon, a 19-year Filipino expatriate executive in the Kingdom.

Manila-based legends Marlou Aquino, E.J. Feihl, Bonnel Balingit, Rodney Santos, Bong Hawkins, Gherome Ejercito, Gerald Esplana, Vince Hizon, Bal David and Noli Locsin along with US-based Abe King Jr., PBA Legends USA Foundation, chair and president; and Ponky Alolor make up the team.

by pna

Frankie Gomez, a young 29-year-old junior welterweight prospect, will be Manny Pacquiao’s sparring mate in the eight-division world champion’s leg of his Wild Card Gym training camp in Los Angeles.

Gomez, who owns an immaculate 12-win record in his young professional career, nine of them via stoppage, is Roach’s choice in what could be a two or three-man sparring rotation in Pacquiao’s camp starting Monday next week when the Filipino sensation moves to the U.S. from a two-week stint in General Santos City.

“Of course, there will be one or two more in the rotation, but for a start, we’ll start with Gomez to give Manny the feel of what it is to be atop the ring with an opponent after more than three months of hibernation (following his controversial loss to Timothy Bradley last June 9),” Roach said in an overseas telephone interview Tuesday.

A former outstanding amateur with a 120-8 win-loss record before turning pro, Gomez, a silver medalist in the World Amateur Championships, approximates the style of Mexican Juan Manuel Marquez, whom Pacquiao is dating for the fourth time on December 8 at the MGM Grand in Las Vegas.

“Malakas, mabilis at counter-puncher din,” attested Roach’s Filipino assistant Marvin Somodio under whose tutelage Gomez is at the Wild Card sweat shop.

“Simply magaling,” Somodio said. “Swak na swak kay Manny kaya tamang-tamang maging sparring partner.”

From the time he knocked out veteran Clayvonne Howard in his first pro-bout via a third round KO, Gomez rattled in eight more abbreviated victories in his next 11 outings including a third round annihilation of James Hope in his last outing December last year at the Honda Center in Anaheim, California.

“I’ve been watching Gomez’s career closely for years and he is one of the best amateur boxers I’ve seen in a long time,” legendary Oscar DeLa Hoya said of Gomez once.

Pacquiao, the fighting Congressman from Sarangani, is scheduled to fly to Los Angeles on Saturday and will be setting foot in U.S. soil the same day (U.S. time). A day’s rest on Sunday precedes what could be the toughest grind he will be undergoing in years in his effort to win convincingly this time following his doubtful 2-1 win-draw record against the Mexican legend in their trilogy.

On Tuesday morning, Pacquiao capped his two-week preparations in GenSan by rounding the city’s sports complex oval for half-an-hour before plunging into action in the gym briefly in the afternoon.

“As I said, stamina-building lang ang ipinunta ko dito sa GenSan to prepare myself for a more serious camp at Wild Card,” Pacquiao said after his morning roadwork.

by pna

Pangasinan ruled athletics but Baguio City charged back in taekwondo and swimming to gain the overall lead in the Northern Luzon leg of the Philippine Olympic Committee-Philippine Sports Commission Batang Pinoy Games.

Swimmers Jamleth Marie Villanueva of Olongapo City and La Union's Gwyneth Amber Cawaling were the most productive athletes of the games with six gold medals each.

The host province lorded it over with 38 gold medals in track and field, capped by a victory in the boys' 14-15 4x400-meter relay headed by triple-gold medalists Jayson Toribio and Lodivico Dela Cruz.

The Pangasinan quartet clocked 3:44.0 to beat Baguio City (3:51.5) and Candon, Ilocos Sur (4:23..

Although Baguio City came up with 28 gold medals, the City of Pines produced the best track and field performers in Sisa Carunungan, Leah Taltala, Kaizelle Vergara, Agustina Anganayon, Lilia Yatar, Masulyn Seal, Erwin Generalao and Patrick Vichez.

Taltala and Carunungan, freshmen classmates at the Baguio City National High School, captured five golds each punctuated by their victory in the girls' 13-under 4x400m relay along with quadruple gold medalist Vergara and Gerimae Murillo.

They completed the race in 4:34.6 while Pangasinan (4:46.9) settled for silver.

Pangasinan Gov. Amado T. Espino Jr. also discovered their own future stars on the track with sprinters Mark Laurence Sanguir, Francis Marron and Rico Navarro pocketing three golds each in the talent search program for athletes 15 years old and below.

Baguio, however, dominated taekwondo after grabbing 13 of the 16 gold medals at stake at the Pangasinan Training and Development Center.

Finweight Christian Mark Duntugan, one of 11 kids sent to witness the London Olympics after entertaining the crowd in the BP Games last year, retained his title after beating Kurt Bryan Barbosa of Bangued, Abra, 9-8, in the finals.

Other winners for Baguio were flyweight Monsour Carlo Salazar, bantam Tristan Dale Cayago, featherweight Kendrix Galiah, lightweight John Gervin Astrologio, welter Rencer Shane Lavestre, John Christian Mapalo (middleweight);

Finweight Angelica Joyce Gaw, flyweight Keyya Arizza David, Colleen Heria (bantam), Leslie Marie Agyamoc (feather), Phoebie Kate De Guzman (light) and Kaye Shanelle Romuar (welter).

Baguio's taekwondo jins and swimmers, who accounted for 11 gold medals, allowed the country's summer capital to gain the overall lead in the medal tally with 56 golds, 40 silvers and 36 bronzes.

Pangasinan had 47 gold medals, 70 silvers and 65 bronzes while Malolos, Bulacan topped swimming for a 13-7-7 haul.

The host province, which managed to steal two golds in taekwondo and six in the pool, had a 1-2-3 finish in the national finals of cycling ruled by John Carlo Dasalla of San Manuel town.

Dasalla finished the 74-kilometer course on Maramba Boulevard in two hours and 12.01 minutes to nose out Joel Pataray (2:12.05) and Kyle Dela Pena (2:12.15).

Villanueva, a seventh grader from the Regional High School in Olongapo, seized her sixth gold in the 100-meter butterfly in 1:17.24. Bulacan's Angelica Samelo (1:20.03) settled for silver and Baguio's Samantha Kaye Payaket (1:27.03) placed third.

Cawaling, on the other hand, seized his fifth and sixth gold medals yesterday in the 12-under 200m individual medley and 800m freestyle. She clocked 11:08.80 to defeat Bulacan's Anne Katherine Lorete (12:37.06) and Beatrice Zulueta of Angeles City (12:59.42).

In badminton boys' singles Jervin Dyler Carlos of Malolos City toppled Baguio's John Vergel Nepomuceno, 21-16, 21-19 to set up a semifinal duel with Bula can's Gabriel Cruz, who trounced Baguio's Matthew Loyao, 21-12, 21-14.

Francis Adrian Ramos of Zambales, a 21-7, 21-17 winner over Michelin Payas of Alaminos City, faces John Matthew Bernardo of Malolos in the other semifinal matchup. Bernardo scored a 21-13, 21-10 victory over Michael Tamani of Santiago City, Isabela.

Paula Beatriz Bernardo of Malolos barged into the semifinals with a 21-14, 21-4 win over Jeya Von Pinlac of Baguio. Bernardo will meet Jazmine Jane Ang of Pangasinan, who won over Malolos' Airish Macalino, 21-16, 21-11.

by pna

Kenya's basketball team Eagle Wings will give all out to lift this year's Africa Club Championship title on their second attempt.

Head coach Smatt Olumbo was confident, saying on Tuesday that his side will be able to weather the storm and curve a niche in the competition, which starts on Friday in Abidjan, Cote d'Ivoire.

Interclube of Angola are the defending champions and favorite to retain the title.

Eagle Wings will be joined by Kenya Ports Authority in their tour of Cote d'Ivoire.

Eagle Wings who are Kenyan Champions qualified alongside Kenyan Port Authority during last month's Africa Zone 5 meeting in Kampala, Uganda.

"We were meant to compete in this event in 2010, but lack of finances denied us the chance. I am happy the ministry of sports has bailed us out and we are focused on turning the tables in Abidjan," said Olumbo.

by pna

More than 2,600 policemen will guard law and order at a World Cup qualification game between the Russian and Azerbaijani national teams, held at the Luzhniki stadium at 19:00 hours.

Teams of cynologists with sniffing dogs examined the territory of the stadium on the eve of the game.

All the audiences will have to pass inspection with metal searchers as they enter the stadium and individuals intoxicated with alcohol will not be admitted.

Rules for the spectators forbid taking ‘bladed articles’ and ‘glassware’ to the game.

Elsewhere in the city, the regular police patrol routes have been moved closer to sports bars where the game will be broadcast on large screens.

“All in all, 2,654 police servicemen will be engaged in guarding law and order at the Luzhniki stadium, including 370 officers of the Specialized Police Units Center and 1,460 servicemen of the Interior Troops,” police sources told Itar-Tass.

by pna

The Philippine Olympic Committee-Philippine Sports Commission Batang Pinoy Games 2012 Mindanao qualifying leg will push through as scheduled on Nov. 7-10 after host Dapitan City agreed to partner with PSC.

Dapitan City Mayor Patri Bajamunde-Chan signed a memorandum of agreement on Thursday with the PSC, paving the way for the 2011 Palarong Pambansa host to feature another multi-sport event designed to discover talents for the national pool.

”We're looking forward for another chance for the people of Dapitan to join hands by working closely for the Batang Pinoy,'' said Bajamunde-Chan.

It will be the fourth regional qualifier of the talent discovery program for athletes 15 years old and below after potential national members were identified in Marikina City last month (National Capital Region leg) and in Lingayen, Pangasinan (Northern Luzon) last week.

The Batang Pinoy Games, which will culminate in a national championship in Iloilo City on Dec. 5-8, will be having its third leg in Southern Luzon to be hosted by Calapan City, Mindoro next week.

Aside from showcasing its rich historical heritage and the hospitality of its people, Dapitan will host 10 sports â€" arnis, athletics, badminton, boxing, chess, lawn tennis, karatedo, taekwondo, table tennis and swimming â€" during the five-day Mindanao qualifier.

”I'm sure there are many young athletes out there in Mindanao capable of someday representing the country in international tournaments,'' said PSC chair Richie Garcia. "They're just waiting for the right time to be discovered."

The top performers in each of the five regional qualifying legs will advance to the Iloilo national finals, where the outstanding athletes get a chance to join the developmental pool preparing for the 2014 Youth Olympic Games in Nanjing, China.

The opening ceremonies of the Mindanao qualifier in Dapitan City is scheduled on Nov. 6.

by pna

Construction work on Wunna Theikdi Sports Complex for the 2013 Southeast Asian Games has completed by 85 percent, said an official daily New Light of Myanmar Wednesday.

As the main stadium for the 27th SEA Games, Wunna Theikdi Sports Complex is located in Nay Pyi Taw, the new capital of Myanmar.

Max Myanmar Co is constructing the stadium which comprises modern stadium, modern gymnasium and modern swimming pool.

The oval shape stadium which is located on an area of 7,144 square meters, can accommodate about 30,000 spectators. The construction work started in January 2010.

The stadium will host various kinds of sports -- long jump, shot put, discus, pole vault and hurdles.

The 27th SEA Games will be held in Nay Pyi Taw, Yangon, Mandalay and Ngwesaung beach for 42 sports events from Dec. 8 to 12.

The SEA Games, held every two years since 1959, is the largest sports event in Southeast Asia.

Myanmar hosted the Games in 1961 and 1969, winning 104 medals in the 1961 SEA Games and 149 medals in 1969.

by pna

The 2014 World Cycling Championships will be held in Spain after it was confirmed this Wednesday that the regional government of Castilla-Leon agreed to guarantee the 4 million euros needed to host the event.

The World Championships are to be held in the city of Ponferrada in the province of Leon in the northwest Spain. However, the economic crisis and the announcement of slashing cutbacks in the funding of Spanish sport, in some cases by as much as 50 percent by the Spanish Sports Committee (CED), had raised serious doubts over whether or not the town would be able to afford hosting such an important event.

A press conference held Wednesday by the Mayor of Ponferrada, Carlos Lopez Riesco, has finally banished those doubts as he confirmed the funding would be available with the regional authority providing a guarantee for the payment of the 4 million euros, required by the International Cycling Union, as well as providing a further 800,000 euros over two years to help pay for the World Championships.

Riesco added that hosting an event that lasts for a week and which will be televised all over the world represents a magnificent opportunity for this predominantly rural part of Spain.

by pna

The Cebu Football Association has announced the Philippine Azkals and Singapore Lions will face-off on Nov. 15 at the Cebu City Sports Center.

”This will be the first for Cebu. We’re trying our best to do it successfully to put Cebu on the football map that could lead to Cebu hosting more tournaments in the future,” CFA president Engr. Ricky Dakay said.

CFA will also purchase Nike Maxim soccer balls for the game, which will be used for future CFA-sanctioned tournaments, while the improvements at the sports center on the rooms will become permanent already.

This will be the last game for both teams before the 2012 AFF Suzuki Cup and locals are encouraged to wear blue in support of the men’s national football team.

”Let’s make this hosting happened. We can’t do it alone but we need the support of Cebuanos,” Dakay added.

Dakay said tickets for Cebu’s first international hosting stint will be available for sale at any SM Cinema ticket booths nationwide.

The tickets were made available for sale starting Wednesday.

The CFA partnered with SM for the distribution of the tickets that will be made available in its 44 ticket outlets in the country. It can also be purchased online at www.smtickets.com.

Patrons in Visayas can purchase the tickets at SM Cebu, SM Consolacion, SM Bacolod and SM Iloilo, while those coming from Mindanao can buy the tickets at SM Davao and SM Cagayan de Oro.

To prevent chaos on game day, the seats will be numbered and one can actually choose one’s seats upon purchase of tickets, just like booking for a movie.

The seat numbers will be reflected in the band that will be given to the viewer for easy counter-checking with the ticket marshals.

The group will also be adopting the Sinulog colors in selling the 5,129 tickets

The VIP tickets are priced at P2,000, while the red tickets located at the back will cost P800.

White tickets are priced at P600, while the yellow and blue tickets are at P400. Pink and green are P200.

by pna

This city, through its Youth and Sports Development Division, is preparing for the 36th National Milo Marathon Iloilo Leg Elimination on Oct. 28.

Sports development officer Rommel Castro said they have reached their target number of 12,000 runners as of Oct. 16.

Those who registered for the 3-km run numbered 2,000; 5-km, 9,500; 10-km, 250; and 21-km, 250.

“We cannot add more runners because that is already the maximum capacity our route can take,” he explained.

The run starts at Luna Street in front of the West Visayas State University going to General Luna Street then turn right at Diversion Road going to Pavia, Iloilo, then back to Iloilo Sports Complex in La Paz district.

Gun time for the 3-km and 5- km run is 5:30 a.m.; 10-km, 5:00 a.m.; and 21- km , 4:30 a.m.

The winners will be qualified to run for the national finals in Metro Manila on Dec. 9.

by pna

Cebu’s unbeaten prospect Dodie Boy Penalosa Jr. is training with boxing champion Manny Pacquiao in preparation for his much-anticipated debut in the United States.

Dodie Boy is in General Santos City preparing for his US debut.

He is scheduled to fight a yet-to-be named opponent in the Pacquiao-Marquez 4 undercard on Dec. 8 at the MGM Grand in Las Vegas.

”He’s doing okay. Dodie Boy Jr. is there in Gen San with Manny,” retired two-division world champion Dodie Boy Sr., the father and trainer of Dodie Boy Jr., said.

Dodie Boy Jr., a former amateur standout, passed the toughest test of his young professional career against Indonesian journeyman Alex Buckie last April at the Mandaue Sports Complex.

Dodie Boy Jr. knocked out Buckie in the ninth round of the scheduled 10-round fight, improving to 9-0.

Michael Farenas is also among the Filipino fighters that are seeing action in the undercard. Farenas’ opponent is also undetermined.

Farenas fought undefeated World Boxing Association super featherweight champion Takashi Uchiyama in Japan.

The outcome was frustrating as it ended in a third-round technical draw after Uchiyama suffered a huge cut from an accidental head butt.

by pna

The province of Negros Occidental will join other local government units (LGUs) in sending boxers to compete in the Amateur Boxing Association of the Philippines (ABAP)-PLDT Visayas Elimination slated Oct. 22-26 at the ABAP Multi-Purpose Gym in Bago City, Negros Occidental, about 22 kilometers south from here.

Cecil Oyos of the Provincial Sports Office, four boxers will represent the province to compete with other boxers from Panay, Cebu, Bohol, Samar, Leyte and Negros Oriental for the five-day elimination bouts in different weight categories.

Oyos said the four boxers are Mario Bautista of Binalbagan in the 46 kilograms, and Mark Anthony Montinola of Himamaylan City in 48 kilograms, both of School Boys category; and Arnold Jetajobe, 46 kilograms and Aljun Oro in 49 kilograms, both of Sagay City in the Youth category. Oro was first runner in the same category during the Philippine National Games held in Manila last July.

She said only Bago City, Sipalay City and Negros Occidental were automatically seeded with other teams after joining this year’s PNG.

The winners will advance to the 2013 ABAP-PLDT National Amateur Boxing Championship.

Bago City dominated theJanuary Visayas elimination held in Dumaguete City with three of its boxers winning their bouts. Seventeen-year-old James Palicte who also won gold in this year’s Philippine National Games in Manila led the Bago gold assault. He was also the national champion in the 2008 and 2009. Other bets were Raymart Flores in the youth pinweight division and Andrian Dela Cruz in the junior light flyweight category.

Bago competed in the ABAP-PLDT National boxing finals held in Tagbilaran City, Bohol last March 4-7, 2012 with Panabo City, Davao del Norte who grabbed the overall championship.

ABAPâ€"PLDT officials headed by its president Ricky Vargas and ABAP Executive Director Ed Picson are expected to come during the competition.

by pna

San Juan representative and senatorial candidate JV Ejercito and former senator and Philippine Swimming League (PSL) chairman Nikki Coseteng will join Philippine Sports Commission (PSC) Chairman Ricardo “Richie’ Garcia to grace the opening of 17th Sandugo-UniGames at University of St. La Salle (USLS) here slated on October 22 to 28.

Also University Games (UniGames) president Roger A. Banzuela said Ejercito and Coseteng will have other events to grace.

Ejercito will join Philippine Volleyball Federation president Gener Dungo to declare open the volleyball events at 8am on Monday, while Coseteng will be the guest at the swimming event opening on Thursday along with PSL president Susan Papa.

Garcia, on the other hand, will address the participants during the opening ceremony at 6pm on October 22 at USLS Coliseum.

University of the Philippines-Diliman women volleyball team arrived on October 17 and others schools are expected to come Friday and Saturday.

He said they can still catch up with Bacolod MassKara Festival.

In women’s volleyball, University of St. La Salle is the defending champion after winning the title in Roxas City, Capiz. This is the fourth titles of the Lady Stingers winning it in 1997, 1999, 2008 and last year.

For the record, Far Eastern University won the event six times, claiming the initial staging in 1996, 1998, 2000, 2002, 2005 and 2006. San Sebastian College won the title in 2001; De La Salle University won it twice in 2003 and 2004; Adamson University in 2007 and University of Sto. Tomas in 2009 and 2010.

Volleyball event so far has the most number of entries with 26 teams on the men and 24 on the women’s side.

About 50 schools already registered to compete in 13 sporting events that will be played in different venues in Bacolod City, majority of them at the University of St. La Salle campus. Men and women’s basketball will be played alternately at USLS Coliseum, West Negros University Gym and Po hang Gym of Bacolod Tay Tung High School.

by pna

Unheralded Polytechnic University of the Philippines downed Central Luzon State University, 11-4, in regulation six-inning contest in a battle of two State Colleges and Universities Athletic Association campaigners and found itself in the unfamiliar top spot in Group B Thursday in the Cebuana Lhuillier National Intercollegiate Women's Softball Championship at the Rosario Sports Complex in Pasig City.

A four-run, four-hit attack right at the bottom of the first inning was the wall the Sta. Mesa-based batters needed in scoring their third straight victory to remain the only unbeaten side in the six-team Group B field that includes such illustrious UAAP campaigners as University of the East, University of Santo Tomas, Ateneo and National University.

Incidentally, the PUP girls' first two wins came at the expense of UAAP titlists Lady Warriors, whom they beat, 5-4, in eight innings, and the Lady Eagles, whom they blanked, 6-0, in their doubleheader Wednesday.

Coach Opreng dela Cruz's girls only need to prevail and win one of their last two outings to make it into the crossover semifinal round. They battle the Growling Tigresses in one of another heavy five-game schedule Friday, then the Lady Bulldogs in the final day of eliminations Saturday.

Rizal Technological University, another SCUAA team participating in this 12-team cast, meanwhile, looked to most-likely join defending champion Adamson University in the Final Four in Group A after a masterful 10-0 shutting out of Bulacan State University, the Mandaluyong-based sluggers' third win in four games, the second best next only to the Lady Falcons' clean 4-0 card.

The Lady Falcons went into the formality of sweeping Group action with another abbreviated 11-1 six-inning drubbing of the Lady Archers.

A victory Friday against La Salle (1-2) formalizes RTU's entry in the race for the two teams that will dispute the title in this series, sponsored by Cebuana Lhuillier, Cebuana Pera Padala, Le Soleil de Boracay, Cebuana Lhuillier Insurance Solutions, Juest Jewels and Phiten.

The Tigresses improved their record to 2-1 and their chances of making it to the semis by dealing CLSU its back-to-back defeat for the day.

The Lady Warriors, runners-up last year, were still playing the Lady Bulldogs as of press time in an attempt to stay in contention for a berth in the next round in their group.

by pna

Boxing sensation and Sarangani Rep. Emmanuel “Manny” Pacquiao is gaining headway with his ongoing conditioning and training here for the scheduled fourth face off in December with Mexican nemesis Juan Manuel Marquez.

Restituto “Buboy” Fernandez, who is currently handling Pacquiao’s training, said the ring icon is now getting back to boxing form and expects further progress as the training sessions continue.

He said their workouts are mainly focused on making Pacquiao become more familiar with the moves and boxing style of the gritty Marquez.

“I’ve been simulating the moves of Marquez and I let him take special attention on the way the latter release his punches and defensive strategies,” Fernandez said.

He said they were also studying their offensive moves and the appropriate punches to deliver in specific scenario.

Fernandez said Pacquiao’s training sessions have been so far going on smoothly and without much distraction, especially from eager fans and visiting friends.

Pacquiao has been making his daily conditioning routine at the city sports complex here and the training sessions at the People’s Champ Gym in Barangay Tambler here.

The training consists of 18 sessions covering a range of activities - from speed ball exercise to boxing tactics.

Also training at the People’s Champ Gym are boxers Ernie Sanchez, Dodie Boy Penalosa Jr. and Michael Parenas who are seeing action as undercards in the December 8 Pacquiao-Marquez fight at the MGM Grand in Las Vegas, Nevada.

by pna

Philippine Sports Commission beach volleyball consultant Eric Lecain has bared his master plan for the development of the sport in Cebu City with the help of the Cebu City Sports Commission.

This developed as the construction of the beach volley sand court at the Fort San Pedro in Cebu City is nearing completion.

Lecain said PSC chairman Richie Garcia asked him to develop the sport in the Visayas, and Cebu City was their choice because it has the largest number of players in the country.

However, the lack of sand courts was a problem.

”Once of the most important parts to getting this program rolling was to find a beach court that was easily accessible. So I came up with the idea of building a court right in the middle of Cebu City. After a lengthy negotiation, Mayor Mike Rama signed a five-year agreement with PSC to loan a piece of land in one of the most popular and historical parks in the city--Fort San Pedro. And I am very excited because it’s almost done,” Lecain said.

First on the list of his program is to start beach volleyball classes for the out-of-school youth, especially those who live near Fort San Pedro.

”I have talked with the people of Cebu City and asked if we could start beach volleyball classes for the children. They said I could easily get 300 to 500 kids especially since most of the kids from this area play volleyball. The idea is to introduce the game to children in this area and maybe, along the way, use it to help them find their way back into school,” Lecain said.

He said he got the idea after he spent time in the area and the first thing that he noticed was there were a lot of children running in the streets.

”Most of these children are out-of-school youth, so they just hand around in the streets all day, playing betting games, asking for coins and just surviving,” Lecain said.

Lecain also hopes to bring the game to the public schools, which he noted lack the proper facilities.

”Most of the schools have very limited means and even just finding a ball can be difficult. The plan is to start inducing the sport by hosting weekly clinics and tournament for elementary and high school children. I have been working on a plan with the DepEd and the CCSC, and they would like to have as many as 30 schools, each with 50 to 100 players, take part in the program,” Lecain said.

Lecain also want to give former beach volleyball players more opportunities.

”In the US, when you finish college, there are so many opportunities to continue playing but after college in the Philippines, there is virtually nothing left for players to do. Some of these players were huge college starts but after their playing years, they just disappeared,” Lecain said.

Lecain said he is working on a personal project named “Invisible Athletes Program,” which he tried with the Cebu beach volleyball teams during the Philippine National Games.

by pna

Ballroom boxing returns on Oct. 28 when the Elorde International Promotions presents a 72-round card, highlighted by the Philippine super-bantamweight championship fight at the D’Flash Ballroom of the Elorde Sports Complex in Paranaque City.

Reigning Philippine 122-pound kingpin Jhunriel Ramonal put his super-bantamweight crown on the bloc against challenger Silvester Lopez in a 12-round encounter. top-billing the card dubbed as “Bakbakan Sa Elorde.”

Both the defending champion and his challenger were at the SCOOP Sa Kamayan session last Friday where they pronounced themselves ready for their showdown, a fight, incidentally between two from the opposite sides of the Zamboanga Pensinsula.

Ramonal, 23, hails from Sindangan del Norte in Zamboanga del Norte, while Lopez is from Sibugay in Zamboanga del Sur.

Another 12-round preliminary main event will feature Renan Trongco of Rizal town in Palawan, who will defend his World Boxing Council youth intercontinental light-flyweight diadem against no. 2 contender Lionel Legada of Binangonan, Rizal.

Trongco and Legada also appeared as guests at the SCOOP session, sponsored by Powerad, AKTV and FILA, along with trainers Archer Villamor amd Romualdo Mahinay Jr.

An eight-rounder between flyweights Renie Daniel of Manabo, Abra and Roy Albaera of Davao City heads the 38-round curtain raisers that also include five six rounders.

A pair of six-round special attractions rounds out the card.

by pna

Shortstop Quennie Sabobo blasted a solo lead-off home run at the top of the first inning and Julie Mari Muyco struck out the first two batters that crossed her path as Adamson University fashioned out an easy 11-3 five-inning victory over Rizal Technological University for its back-to-back Cebuana Lhuillier National Intercollegiate Women's Softball Championship Sunday at the dilapidated Rosario Sports Complex in Pasig City.

Muyco, younger sister of the country's former no. 1 pitcher Cloiene, designated player Analie Benjamin and Rizza Bernardino picked up from where Sabobo left at the plate driving in three runs, two runs and three runs, respectively. as they formed the core of the star-studded Lady Falcons' mighty offensive thrust.

The now-20-year-old Muyco from Bacolod City, likewise, stood high at the mound limiting the Mandaluyong sluggers to merely four hits, while striking out four more in an outstanding show of her now-fast, now-slow pitching style that also including a sprinkling of deceptive risers and sinkers that mesmerized those facing here.

Bernardino, hero of Adamson's sweeping the elimination and semifinal rounds while manning the hill, went three-for-three at bat with a pair of singles and a triple, while Benjamin was three-of-four with another three-base hit as they made mincemeat of Malous Garcia's variety of pitches.

Benjamin's two extra base hit in the opening frame saw the Lady Falcons, winners of this tournament last year as well as the National Open and the UAAP, roared to a 2-0 advantage that was bloated to 4-0 by a single each by Bernardino and leftfielder Luzviminda Embudo.

The Lady Falcons, four of whom are members of the PH BLu Girls and five of Big League World Series titleholder Team Manila never looked back after that even as RTU showed some flashes of brilliance scoring a pair at the bottom of the second on a pair of connections and a marked an inning later on a triple by centerfielder Nuds Ibanez.

"Well, magandang tuneup ito para sa coming UAAP where we are also defending our crown," Adamson multi-titled coach Ana Santiago, who collected her 20th championship as a head coach, said.

"Maganda naman kasi ang recruitment program ng Adamson at talagang binibigyan kami ng management ng exposure sa mga local and even international tournaments. We owe our recent successes sa programa ng school," Santiago, who also guided the Manila Golden Girls to the country's first Big League Wolrld Series championship two months ago in Kalamazoo, Michigan said.

The pint-sized former understudy of softball great Filomeno "Boy" Codinera, likewise, was architect of the Philippine Blu Girls' last two title conquest in the Southeast Asian Games.

by pna

Poland’s sports minister offered her resignation Wednesday over the weather-enforced delay of this month's World Cup qualifier between England and Poland in Warsaw.

The match at Warsaw’s Olympic Stadium was postponed by a day when the venue’s retractable roof was left open during heavy rain that made the pitch unplayable.

“I feel political responsibility in connection with the cancelation of the match, even though I couldn’t actually have done anything,” Sports Minister Joanna Mucha told journalists at the Polish parliament.

She added that she had informed Prime Minister Donald Tusk of her intention.

In the wake of the cancelation, Tusk instructed a government commission to investigate the incident and is due to deliver a report later Wednesday.

The 58,000-capacity stadium was built on the site of a former athletics venue in order to host Euro 2012.

by pna

A fund raising golf tournament for the indigenous peoples or lumads and other charity projects like bloodletting is set on October 26 to 28 at the Davao City Golf Club here.

The three-day event dubbed as “The Lifeline Part 2” is a project of Toril Lodge 208 Foundation Inc. in cooperation with the Sports Foundation of St. Andrews (SFOSA).

Tournament director Frank Buno said the two-in-one event offers exciting golf and raffle prizes worth more than P350,000. A brand new Suzuki Swift car, two motorcycles and a laptop are the hole-in-one prizes in designated par 3s.

“Players and non-players can buy as many as raffle tickets for the separate raffle and for more chances to win,” Buno said.

Raffle ticket donation per game is P500 while the tournament fee is P1,750 for one game. Players can also play for a second or third game and pay only P1,400. The categories are Class A (0-9), B (10-16), C (17-24), D (25-32) and Senior (55-65 yrs. Old) division.

by pna

Young swimmers here are now ready to go to Malaysia to join the invitational swimming competition.

Tom Davis, American coach of the Aklan Aquablades, said Wednesday they are sending at least 12 young swimmers to compete in the competition known as "Trick or Treat Malaysia."

The October 26-29 swim meet in Kuala Lumpur, Malaysia is being supported by the Philippine Sports Commission (PSC) and the Philippine Aquatic Sports Association (PASA).

"They are the official representative of the country to the said competition. They will be competing against young swimmers coming from Singapore, China, Malaysia among others,” he said.

For two years already, the Aquablades have been competing in international swimming event. In 2010, they competed in Arizona, USA and last year also joined a similar competition in Singapore.

by pna

With all the ingredients needed for a more extensive training regimen awaiting him at the Wild Card Gym in Los Angeles, California, Manny Pacquiao the other night said preparation for his fourth encounter with Juan Manuel Marquez is going on smoothly and without an iota of hitch.

Stressing that the extension of his training camp here proved a blessing-in-disguise, the eight-division champion said he's more than ready for a more tedious program that chief trainer Freddie Roach has charted in an effort to get him prepared for the fight set on Dec. 8 at the MGM Grand Garden Arena in Las Vegas.

"As we've been saying, we have planned to win convincingly this time, possibly via knockout and that's we've been working on since we pitched camp here in GenSan," Pacquiao told the Philippines News Agency in a conversation while partaking dinner with members of his team after a two-and-a-half hour workout at the People's Gym inside the huge Family Country Hotel compound here.

"The stamina is already there, the speed and power have been recovered at wala nang kulang na gagawin kundi pag-aralan ang taktika at strategy na gagamitin sa laban pagdating sa LA," the 33-yer-old Fighter of the Decade assured.

"Maganda ang aming camp dito. No distraction whatsoever. Basta maganda ang weather, medyo mainit kaya siguro na-regain ko agad ang stamina...," Pacquiao said.

He was referring to the regimen prepared by himself, his boyhood friend assistant trainer Buboy Fernandez and younger brother Roger "Haplas" Fernandez.

One other wonderful thing happening at his camp, according to him, is there has been a very minimal distraction both in his roadwork at the General Santos Sports Complex oval and in his gym work at the People's Champ Gym, built solely for his use by businessman-sportsman friend Rey Golingan, owner of the Family Country Hotel.

"My security nga (headed by Caloy Homo), hindi na nakaha-high blood sa pag-awat ng mga taong nagpo-pose for picture o nagpapapirma ng autograph," he said.

"Alam naman ng mga kababayan ko dito na napakahalaga ng laban kong ito at ayaw nilang magsilbing distraction sa preparasyon ko," he added.

"Yun ang pagkakaiba kung nasa Baguio ka or other places kung saan pinagkakaguluhan ka ng mga taong hindi naman alam na nakaka-istorbo sila. Hindi naman puedeng pagbawalan dahil sasama ang loob," the Pacman said.

by pna

A sports cooperation programme between the High Council for Sport of Spain and the Philippine Sports Commission (PSC) will be formalized Oct. 23 with the signing of the memorandum of agreement at the Diamond Hotel in Manila.

PSC Commissioner Salvador Andrada and Santiago Gonzales Fernandez-Corugedo, Educational Counsellor of the Embassy of Spain, are the signatories in the program.

In an interview, the officials said the programme will provide the framework to initiate sports cooperation within the framework of their respective powers and competence, by fostering as a priority the exchange of expertise in institutional cooperation; the field of science and technology applied to sport; medicine for sports practitioners; and the struggle against doping.

Included are sponsorship and patronage of sports; organization of sporting events; training of sports specialists and administrators; programmes for the support and encouragement of sport for the disabled; and protection of female and young sports practitioners.

PSC Executive Director Guillermo Iroy Jr. said both parties are emphasizing their interest in establishing contacts for sports cooperation and their shared desire to collaborate in the maintenance of fundamental sporting principles.

Included is the Olympic Charter of “contributing to the building of a better and more peaceful world by educating youth through the practice, without discrimination of any kind, of sports requiring mutual understanding, a spirit of friendship, solidarity and fair play.”

The two parties agreed to collect information and exchange points of view through consultation on questions of mutual interest; provide information on the experience obtained in the provision of sports facilities, planning and building of sports installations; exchange information, through periodical and other publications, relate with sports issued of common interest; provide information on seminars, congresses and other meetings that may be held.

by pna

Ateneo de Davao University and Holy Child College of Davao defeated separate rivals in the finals to rule the Mindanao regional championship of the MILO-sponsored 2012 BEST (Basketball Efficiency Scientific Training) Center Small Basketeers of the Philippines-Passerelle twin tournament held recently at the Goldstar Gym here.

Ateneo outplayed Corpus Christi School of Cagayan de Oro City, 64-59, to claim the SBP crown and Holy Child defeated Claret School of Zamboanga City, 64-53, to top the Passerelle division.

Lawrence Angeles made 11 of his team-high 13 points in the first quarter to lead Ateneo to an early 20-5 lead in the SBP tournament for 9-11 years old.

Corpus Christi then relied on the second quarter rally led by point guard Joel Cagulangan to cut Ateneo's lead down to eight, 29-21, and remain within striking distance in the third period. Eric Tuadles and Joachim Weill, however, conspired for nine points in the final quarter to secure the victory for the Blue Knights.

Tuadles finished with 11 points and Weill added 10 for Ateneo while Corpus Christi was paced by Jose Sabandal who had 18 points in the game. Cagulangan added 12.

In the battle for third place, Claret School of Zamboanga City won over Dadiangas West, 50-43.

In the Passarelle tournament for 12-14 years old, Vincent Angelo Fernandez netted 13 points and Carlito Rodriguez and Leon Lorenzana scored eight points apiece to lead the Reds.

by pna

Friday's edition of the "SCOOP Sa Kamayan" session is temporarily suspended due to the ongoing Batang Pinoy Southern Luzon eliminations where most sportswriters are covering in Oriental Mindoro, aside from the day's having been declared a holiday.

Sports Communicators Organization of the Philippines (SCOOP) president Eddie Alinea said the weekly public service forum, sponsored by Powerade, AKTV and FILA, will resume next Friday, Nov. 2.

by pna

The Cebu City Sports Commission (CCSC) has intensified its barangay dancesports program with a series of workshops, which started last Saturday.

The workshop, which is part of the scholarship program by the Dancesport Team Cebu City and supported by the Philippine Sports Commission, went full blast at seven public elementary schools in the city and will continue until the end of the month.

CCSC chairman Edward Hayco, who is also the city’s patron for dancesports, said the venues for the workshops are the elementary schools in Guadalupe, Tisa, Basak, Pardo, Apas, Tejero and Sawang Calero.

”At least, it will sway and encourage other sports disciplines to follow and implement their own free training program. We need to create awareness. Other sports leaders should start to walk their talk,” Hayco said.

The Team Cebu City Dancesports bagged 11 gold medals, 13 silvers and four bronze medals in the 16th National DanceSport Championship 2012 at the Ninoy Aquino Stadium last Oct. 13 and 14.

Hayco is very upbeat about the free workshops in the barangays, which has produced quality athletes, one of those was Jessa Mae Briones from Bulacao who had made waves in the empire State Dancesports competition in New York last year.

”What is important here is that dancesports lesson costs each athlete at least P300 in a private dance studio for one session. Here, we give it for free,” Hayco added.

by pna

Strong rains brought by tropical storm “Ofel” has forced the organizers to temporarily cancel the ongoing Southern Luzon qualifying leg of the Philippine Olympic Committee-Philippine Sports Commission (PSC) Batang Pinoy Games in Calapan, Oriental Mindoro.

Gov. Alfonso Umali Jr. issued the order according to PSC Executive Director Guillermo Iroy Jr. on Thursday morning.

“We still don’t know if we will extend or cut the schedule of the games,” Iroy said.

The Southern Luzon leg is the third of five regional qualifying legs for the Batang Pinoy national championships in Iloilo City on Dec. 5-8. Two more qualifiers are scheduled from Nov.7-10 in Dapitan City (Mindanao leg) and Nov. 21-24 Tacloban City (Visayas).

by pna

Far Eastern University (FEU) topped the competitions in both men's and women's athletics at the end of the 17th Sandugo-UniGames at Panaad Park and Sports stadium in Barangay Mansilingan on Thursday.

FEU men and women athletes won three of the four events at stake. Kenny Gonzales blasted three other contestants in the finals of men’s javelin with a distance of 56.36 meters. De La Salle-College of St. Benilde Jetrick Reyes settled for silver with 51.90 meters, while Ateneo de Manila University took the bronze medal with 51.80 meters.

Former Western Visayas, Ilongga Evalyn Palabrica won the gold medal in the women’s javelin throw for FEU to a distance of 39.90 meters, surpassing her personal best of 39.61 meters when she won the event in the 2012 Palarong Pambansa in Lingayen, Pangasinan. Broken Shire College’ Zaida Abada settled for silver with 34.90 meters, while University of the Philippines Jenelyn Arle won the bronze in a throw measured at 33.82 meters.

FEU quarter clocked 2:19.59 seconds to rule the women’s classical relay; University of Sto. Tomas timed 2:22.13 seconds to settle for silver and Rizal Technological University took the bronze in 2:25.74 seconds, while university of St. La Salle team B was fourth with 2:28.80 seconds.

DLS-College of St. Benilde won the men’s classical relay with 1:58.1 seconds clocking; RTU settle for silver (1:59.62), while UP won the bronze medal in 2:00.17 seconds.

Other FEU winners on Wednesday were Mary Ann De La Cruz won the women’s 800 meters (2:19.87), Jelyn Duran of Escalante City won the silver (2:15.57) for University of St. La Salle and RTU Divine Bautista took the bronze (2:22.15).

by pna

Swimmers Justine Ann Abastillas and Courtney Melissa Gray created huge ripples in the pool even as Laguna struck in karatedo and wrestling on the penultimate day on Saturday of competitions in the Southern Luzon leg of the Philippine Olympic Committee-Philippine Sports Commission Batang Pinoy Games here.

Abastillas, a seventh grader from St. Philomena School in Lucena City, won the girls' 12-under 50-meter backstroke and 50m freestyle while the 15-year-old Gray of Puerto Princesa City also had five gold medals capped by a victory in the girls' 13-15 800m freestyle.

Abastillas won the 400m free, 100m free and 200m free earlier and Gray was impressive in the 200m back, 400m individual medley, 200m free and 100m back.

Gray, a high school sophomore at Trace College in Laguna, clocked 10:20.06 in the 800m free to defeat Antipolo City's Gwen Bryne Prejula (10:41.97) and Elaine Joy Manalang of Laguna (11:03.62).

Abastillas timed 31.43 seconds in the 50m free for her fifth victory, beating Cindy Fernandez of Puerto Princesa City (32.14) and Vivien Vance Herrera of Calapan City (32.28).

Laguna asserted its supremacy in swimming with 26 gold medals after dominating athletics (31 golds) the other day. Overall, the defending national champion collected 59 gold, 46 silver and 39 bronze medals.

The province snatched seven gold medals in karatedo with Kimberly Karunungan winning three gold medals and Daniel Angelo Caunin grabbing two victories on the mat. Laguna also had three golds in wrestling with John Lester Rueda leading the way in the boys' 35kg Greco Roman.

Karunungan ruled the girls' advanced kata (-50kg), kumite (-47kg) and led Laguna to victory in the team kata with Ilyanna Marcelo and Perlyn Viloria a day before the closing of the games designed to discover potential national athletes 15 years old and below.

Caunin won the boys' kata (-53kg) and kumite (-49kg) while Daniel James Deblois and Viloria added two more victories in the boys' kumite (-35kg) and girls' kumite (-43kg).

Host Oriental Mindoro snatched the boys' singles and doubles in tennis with Jaysar Manlises capturing the individual gold before joining forces with Hilario Evardo Jr. in doubles. Manlises pocketed his third gold after teaming up with Jhon Lloyd Sapurna in the team event.

Calapan City and Oriental Mindoro also dominated full-contact arnis. Oriental Mindoro's Justine James Magnaye bested Calapan's Jerico Casao in the bantamweight finals while flyweight George Kenneth Sitia (Calapan), light weight Janssen Paul Delgado (Calapan) and welter John Mark Claveria ruled their respective divisions.

Flyweight Kate Angel Pilapil, featherweight Angelica Ricablanca and lightweight Marjorie Incha also made the host city proud in the girls' full-contact arnis.

In table tennis, individual bronze medalists Sandro Paul Cortez and Josephine Talay seized the gold in mixed doubles after defeating the Cavite duo of Mark Emmanuelle Apilan and Ann Marie Magcale.

Finweight Jeffrey Caramat (Taytay, Rizal), flyweight Julie Andro Apilado (Oriental Mindoro), feather Lawrence Sam Samar (Antipolo City), finweight Christine Mapula (Antipolo City), welter Danielle Noreen Sacbibit (Cavite City), lightweight Julie Ann Macatangay (Calapan) and bantam Charmine Bacnaon (Antipolo) bagged gold medals in taekwondo.

Dasmarinas City, which collected 20 gold medals in athletics and won a few in karatedo and swimming, is running second overall in the medal tally with 24 gold, 27 silver and 15 bronze medals, followed by Calapan's 18-17-17 haul.

by pna

Tiger Woods put on his best performance on Sunday during the 6.1-million-U.S-dollar CIMB Classic in Kuala Lumpur, but finished only tied fourth at the tournament as he failed to make up the deficit of the first three rounds.

The 36-year-old American golfer grabbed eight birdies, finishing 63 at the final round of the tournament. He has entered the final day at tied-10 after scoring 66-67-69 at the first three days.

Woods was three behind his compatriot Nick Watney on the final score sheet, who fired a outstanding 10-under par on Sunday to win the title.

Woods, one of the world's most highly paid sportsmen ever, won three times on this year's PGA Tour and moved up to number two on the official world golf rankings, but failed to win any major championship which he said would make a "good year" into a "great year."

by pna

Three cyclists from Team Inday Sara of Davao City will see action in the Ronda Pilipinas qualifying race slated Saturday and Sunday in Tarlac.

Dexter Nonato, Ronnie Urdaneta and Eric Donillo are among the 500 riders nationwide vying for the 93 slots for the National Finals.

They will join the 150-km massed start grind from the Tarlac Provincial Sports Complex going around Tarlac Province and cities to finish at the Tarlac Eco Park-Monasterio with the last 4-km uphill climb.

On Sunday the bikers will compete in the the 25-km Individual Time Trial at the sports complex with President Benigno S. Aquino III to fire off the starting gun.

The trip of the trio is sponsored by Mayor Sara Duterte-Carpio, who gave them round trip tickets from Davao to Manila.

They also received P2,000 as food allowance from Allan Gomes of Bisiklita, who also let the riders borrow his set of expensive wheels.

“The wheels cost P150,000. We would also like to thank our city councillors Ryan Alejandre, April May Dayap, Conde Baluran and Vic Advincula Jr. for their help,” said Salvador Paholio Jr., deputy secretary general for Mindanao of PhilCycling.

Alejandre gave P100, Dayap P200 and Baluran P100 while Advincula pledged to given P300 to the riders according to Paholio.

by pna

Believing sports is one of the ingredients to establish an atmosphere of peace, the Philippine Marine Corps conducted a two-month sports competitions dubbed as “Football for Peace”.

About 500 Muslim and Christian children from the provinces of Sultan Kudarat and Cotabato City participated in the competition that taught them how to cooperate as a team, complement each other’s weaknesses and appreciate the value of sportsmanship, according to Brig. Gen. Alex Balutan, commanding officer of the 2nd Marine Brigade.

Balutan said the "Football for Peace" was a joint project of the Marine Battalion Landing Team 1 and the 2nd Marine Brigade.

Primarily, the activity which culminated over the weekend, was meant to develop religious and cultural solidarity among Muslims and Christians in areas where the Philippine Marines operate.

Held at the Cotabato City State Polytechnic College sports complex, the competition featured children from Cotabato City and the coastal town of Lebak, Sultan Kudarat.

Balutan said their two-month peace football initiative was made meaningful and challenging with the participation Muslims, Christian and indigenous peoples.

The football for peace was in support of the country’s observance of peace month spearheaded by the Office of the Presidential Adviser on the Peace Process.

by pna

Shaping up to become a major destination for various sports activities in the region, the Sea Sun and Sea/Kayak Philippines, the provincial government of Zambalesand the Dept. of Tourism-Region III, will hold the first Kayak Explore Zambales Multi-Sports Festival on Nov. 9-11.

Didi Camara, the prime mover of the event, said the three-day event will feature eco-adventure sports of open-water swimming, kayaking, running and biking.

Camara said highlights of the festivities include the 32-km kayak marathon; the 18-km tri-plus-one event; 60-km duathlon and novice race.

The 32-km kayak marathon will kick off in Uacon Cove in Candelaria town with a turnaround at the Petron Jetty in Masinloc and back into Uacon Lake.

Kayakers will go through the mouth of the river to reach the finish line in Uacon Lake, Camara said.

After an hour, she said, an 18-km kayak relay follows with a 1.5- km open water swim from the shoreline to Potipot Island, 2-km beach run around the scenic island, a 5-km kayak dash to the boardwalk of Uacon Lake and a 10-km trail bike around the lake.

A team of four, with a minimum of one female member, can compete in the 18-km multi-sports relay.

On the second day, a sedate eco-touring of kayaking, bird-watching and mangrove planting will be held after a challenging 60-km run bike duathlon, starting from the foot of Zambales mountain ranges, transitioning at the Zambales Sports Complex in Iba for a 56-km bike run to Uacon Lake boardwalk.

Other equally interesting events include: taekwondo, swimming competition, chess and boxing.

by pna

The new Dutch cabinet will not support the attempts to organize the 2028 Olympic Games in the Netherlands, which was stated in the coalition agreement of the Liberal Party VVD and Labor PvdA on Monday.

"We support the ambition to get Dutch sports on an Olympic level, without wanting to get the Olympic Games to the Netherlands, " said the report.

The previous government, also led by VVD leader Mark Rutte, was a strong supporter of organizing the Games in the Netherlands, one hundred years after the 1928 Olympics in Amsterdam.

According to the VVD and PvdA, which reached an agreement to form a government on Monday, there is little support in society for the Games and the financial risks are too great.

The Olympic plan 2028 organization, with representatives from all sections of society, examines the opportunity to bid for the organization of the 2028 Games. A decision about the possible candidacy of the Netherlands will only be taken in 2016.

The bidding process starts in 2019 and in 2021 the International Olympic Committee (IOC) will take a decision.

Dutch Olympic committee NOCNSF chairman Andre Bolhuis told TV channel NOS he understood the position of the new cabinet, which did not give its support given the economic situation.

by pna

Cebu City Schools Division Superintendent Dr. Rhea Mar Angtud has welcomed the plan of Philippine Sports Commission (PSC) chairman Eric Lecain of introducing beach volleyball in the elementary and secondary division but she has one condition-make an adjustment on the uniform.

In beach volleyball, which was popularized by the United States, female athletes often were bikinis, and that may not suit the Department of Education (DepEd).

”Everything is possible. We will welcome their proposal. It is a good development, we have a sport committee to review their proposal. However, in respect to our culture, tradition and religion and conservative society, it would be better if they do something about the kind of uniform our kids will wear during trainings and competition. We must be conscious with the sensitivity of the parents,” Dr. Angtud said.

Dr. Angtud’s concern was also raised during the London Olympics and some athletes from conservative countries wore long sleeves and pants instead of bikinis.

Cebu City Sports Commission executive director Brandon Velasco said they don’t have any problem with the uniform because they can always find a more appropriate attire.

”What is important is that PSC beach volley consultant Lecain and the CCSC can introduce the basic skills of beach volley among these kids. What is important is the familiarity of the kids with the sport because this is a very challenging sport,” Velasco said.

He added that compared to the indoor volleyball players, where players are focused more on their positioning, it is different in beach volleyball.

”When you play beach volleyball, you need to be very good not only in spiking but as well as receiving the ball, passing and blocking the ball-basically all the skills,” Velasco said.

by pna

The World Boxing Union champion Hamidullah Rahimi encouraged the war-tired youths in Afghanistan Tuesday by grabbing the golden belt in the first professional boxing event ever in the history of the war-torn country.

"It is an exciting match. I am instigated by the first professional competition. It is a great day as I have forgotten the war and conflicts for a while," an excited female viewer, Maryam Siddiqi, told Xinhua.

Rahimi knocked out his Tanzanian challenger Said Mbelwa in the seventh round after Mbelwa admitted retreating to his angle with a shoulder hurt.

"I am fighting for peace. The banner of this match is 'Fighting for Peace'," Rahimi told the audience.

"It is a great moment for my country. This gold belt is not just mine. It is for Afghanistan," energized Rahimi told after winning the race.

"We want no more fighting. The youth of this country must not hold a gun. They should wear boxing gloves or play football," he said.

"As soon as I heard the advertisement about the competition, I've decided to come and see in the event. It is the first boxing match I ever saw in my live," the 28-year-old Siddiqi went on to say.

"It is for first time that Afghanistan is hosting a big sport event like this. I am sure it can promote peace and make Afghans happy at least for one day," she said.

Thousands of boxing fans were watching the match in a giant tent, located in western Kabul amid tight security while millions of Afghans were watching the event broadcasted live by government-run National TV and a newly established local TV channel Khurshid.

"It had to be held in a sport stadium but we do not have such a building in Kabul. Instead they hold the match in the Loya Jirga tent. It is also ok,"

The youngest member of Afghan Wolesi Jirga or Lower House of the Parliament, Baktash Siawash, who was also among the eager viewers, told Xinhua that his country was raring to go for a sign of ordinary life.

"It is an activity for peace building in Afghanistan and also an emotional moment for me as a member of the parliament. We yearn for peace and welcome any kind of action which is helpful for peace." Siawash said.

"I think sport is the biggest ambassador of peace. If we have more activities of this kind in Afghanistan, it will send a message of peace to people of Afghanistan, because we cannot bring peace only by guns."

Mbelwa, 23, fights in the super-middleweight division and has a record of 31 fights with 19 wins, eight losses and four draws. Rahimi is six years older than his opponent and has won 20 of his 21 fights.

Ahead of the fight, Mbelwa said that he understood that the occasion was "a very special event for Afghanistan and sent a very important message for the whole world".

He vowed to fight as hard as any other match once in the ring.

"I hope that this global victory could encourage our youth in every part of the country and boost their endeavors for ensuring peace in the country, to provide better opportunity for further growth of sport in the country," local media quoted Afghan Minister of Information and Culture Dr. Sayed Makhdom Raheen as saying in his congratulatory message in the wake of the event.

Rahimi, 29, was born Kabul in September 1983. In 1992, he fled the civil war and went to the Hamburg, Germany with his parents.

A crucial experience from his childhood marked the beginning of his boxing career:

In 1998, the very first thing he did was to acquire the basic skills of Thai boxing.

Obsessed with his goal to become stronger and better, Hamid spent several months in 2002 in a training camp in Thailand, which is the birth place of Thai boxing.

Since the collapse of Taliban regime, Afghan athletes have already joined several competitions at regional and international level and started bringing medals and honors to the country.

Beijing Olympic medalist, Rohullah Nikpa, won the only medal in London 2012 Olympic Games for his war-torn country.

The International Olympic Committee had suspended the membership of Afghanistan in 1999 due to Taliban's brutal policies that included restrictions on the country's athletes.

by pna

The 15th Aboitiz Football Cup will have a grand launch with heavyweight guests after Philippine men’s football team manager Dan Palami promised that he and the members of the Azkals will join the opening festivities on Nov. 11 at the Aboitiz Sports Field.

Palami and Philippine Football Federation legal counsel and acting secretary-general Ed Castanes recently met with members of the Cebu Football Association (CFA) for the signing of the memorandum of agreement for Cebu’s hosting of the Nov. 15 friendly between the Philippines and Singapore at the Cebu City Sports Center.

The Philippine team was supposed to arrive in Cebu on Nov. 12 but their trip has been pushed earlier so they can join the opening.

They will do away with the usual opening ceremonies but instead hold a festive affair, with contests for the longest throw-in, accurate kicks and juggling.

They will also give and raffle off some 200 tickets for the Nov. 15 game as prizes.

Some 130 teams in 14 divisions have signed up for the Aboitiz Cup, Cebu’s longest-running 11-a-side football tournament.

Palami said he was satisfied with the preparations for the Nov. 15 friendly.

Palami said the team coming over for the Singapore friendly will be composed of the Peace Cup players plus brothers Phil and James Younghusband, Juani Guirado, Rob Gier and Ray Jonsson.

The Singapore friendly is the final match of the Philippines before leaving for the Susuki Cup campaign in Thailand.

Meanwhile, Navarro reported that in the first two weeks of selling tickets, 3,598 of the 5,746, or 63 percent, have been sold.

The friendly isn’t the only football activity for the week as the CFA will also host the PFF board of Governors meeting and Congress on Nov. 14 and 15.

by pna

The second Asia Cup Kabaddi Tournament started Thursday with seven teams participating in the event in Pakistan's eastern city of Lahore.

According to Pakistan Kabaddi Federation (PKF), the seven participating teams have been divided in two pools. India, Afghanistan and Sri Lanka have been placed in Pool A while Pool B consists of Pakistan, Iran, Nepal and Indonesia.

All the foreign teams except Indonesia have arrived in Pakistan to participate in this mega event scheduled to be held from Nov. 1 to 5 at the Punjab Stadium, Lahore.

Afghanistan and Nepal kabaddi teams arrived on Tuesday and the teams from India, Sri Lanka and Iran landed on Wednesday while Indonesian team is scheduled to arrive Thursday.

Earlier, eight teams were scheduled to compete in the tournament but Thailand backed out of the competition due to some reservations.

Two top teams from each pool will progress to the semifinals to be played on Nov. 4 followed by the final and play-off for the third place on Nov. 5.

PKF has allocated a cash prize of Rs1.5 million (15,790 US dollars) for the winning team while the runners-up and third position-holder squads will receive cash prizes amounting to 10,526 dollars and 5,263 dollars respectively.

On Wednesday evening, Pakistan announced its 16-member squad with Musharraf Javed as captain of the team in the event.

The tournament will be inaugurated Thursday with an exhibition match between arch-rivals, Pakistan and India.

According to PKF secretary Rana Sarwar, Pakistan is also providing all the participating teams with free travel tickets and lodging.

by pna

Indonesia is to host an international water ski championship in Palembang of South Sumatra from Nov. 23 to 25, media reported here Friday.

Twenty six countries would take part in the international event to be held at the Jakabaring Sport Complex, the Jakarta Post reported.

Apart from Indonesia as the host country, athletes from Australia, Belarus, Belgium, Brazil, Canada, Chile, China, the Czech Republic, France, Germany, Greece, Ireland, Italy, Japan, the Netherlands, New Zealand, the Philippines, Russia, Singapore, South Africa, South Korea, Sweden, Switzerland, Thailand, the United States and Britain are set to participate.

"The International Waterski and Wakeboard Federation and the Indonesian Waterski Association have appointed South Sumatra as the host of the championship," organizing committee chairman Ahmad Rizal said.

The chairman said there would be 91 participants, including 37 water ski and 28 wakeboard athletes, while the remainder would be contingent officials.

He said the South Sumatra administration was preparing the facilities and infrastructure at the Jakabaring Sport Complex ahead of the championship.

by pna

Malaysia Airlines will launch campaigns in 2012/2013 to mark its 40th Anniversary of flying with the MH code, and appreciate customers for their support and commitment through the years.

Its Commercial Director, Dr Hugh Dunleavy, said the national carrier has planned year-round activities in various forms to reward and appreciate customers and staff, according to a statement Wednesday.

One initiative already underway is a tie-up with a local radio channel, hitz.fm, for a contest, "Take Someone Special, Somewhere Special", where 40 pairs of economy class travel tickets to various Malaysia Airlines' destinations are up for grabs over 40 days.

Listeners are asked to submit a slogan online stating, why they want to "take someone special, somewhere special" on the hitz.fm website.

Daily, the best slogan is rewarded with a pair of air tickets to a MAS destination, of the winner's choice.

by pna

Three bilateral agreements in the areas of tourism, defense, and energy were signed Tuesday between the governments of the Philippines and New Zealand designed to enhance bilateral relations between the two countries.

President Benigno S. Aquino III and Prime Minister John Key witnessed the signing of agreements in a ceremony here.

An arrangement on working holiday scheme between the Philippines and New Zealand was signed by Foreign Affairs Secretary Albert del Rosario and his counterpart Foreign Affairs Minister Murray McCully.

This reciprocal arrangement is the first working holiday arrangement negotiated by the Philippines. It complements the strong people-to-people links that it has with New Zealand, thereby providing a way for young people to experience each other’s culture.

The working holiday scheme will provide 100 temporary entry (12 month) visas to citizens between 18 to 30 years of age in each direction to New Zealand and Philippines. Once qualified, participants are limited to a maximum of three months’ work with one employer and may enroll in training or study courses within the same period.

“The endpoint is to increase the body of knowledge available with the endpoint of going back home to be able to share this expertise with the rest of our countrymen,” President Aquino said of the agreement at a joint press conference held in the Parliament Building.

The implementation of the agreement will occur after some final process issues are worked out. It is expected that the issuance of the first visas under the scheme will start next year.

A memorandum of agreement on defense cooperation was also signed to provide a formal framework for dialogue and cooperation on defense issues reflecting New Zealand’s existing defense activities with the Philippines.

The agreement, which was signed by Defense Secretary Voltaire Gazmin and Minister McCully, includes meetings between senior and military representatives, education and capacity building, training activities and exercises, information exchanges and multilateral cooperation.

When asked whether this particular agreement had something to do with the ongoing territorial disputes that the Philippines and other Southeast Asian countries have with China over the South China Sea (West Philippine Sea), President Aquino responded: “Defense cooperation should not be seen as offensive to anybody, I think… Defense is just that, (it) increases our capabilities to defend ourselves against not necessarily superpower threats but even terrorist threats.”

The President said that this agreement only “formalizes that which has already been existing” so that both countries can exchange experiences and best practices toward improving their respective forces in the arena of shared threats especially in terms of terrorism, drug trafficking, human trafficking, among others.

“There is need for exchange of information and abilities or enhancing each one’s abilities,” he stressed.

Key, for his part, underscored that “peace and stability in the South China Sea is critical because Asia is the fastest growing partner of the world” and they want to see its growth continued.

“Anything that disrupts its growth will have implications for the New Zealand economy. So we think peace and stability is extremely important,” Key said.

Key added, however, that New Zealand doesn’t wish to take sides on territorial disputes but does encourage dialogue and discourse towards a peaceful finding of solution to these issues which President Aquino appreciated.

“A system where (there is) peaceful resolution of disputes should be to everybody’s interest to foster and to make a reality and, towards that end, we thank countries like New Zealand amongst others that have joined in the voice to having a rules-based approach in settling all of these disputes,” the President said.

The third agreement signed between the Philippines and New Zealand was on geothermal energy cooperation which intends to provide a formal government-to-government framework to support commercial geothermal development between the two countries.

Earlier, a business deal between the Energy Development Corporation of the Philippines and New Zealand’s GNS Science was forged during a business event held in Auckland which President Aquino also witnessed.

by pna

NATO considers Russia one of the key potential cyber-aggressors for the North Atlantic alliance, the Kommersant business daily quoted its sources in NATO's headquarters as saying.

NATO plans to hold its Cyber Coalition 2012 war game on Nov 13-16. In line with the exercise’s scenario, NATO members Hungary and Estonia come under large-scale cyber attacks from an aggressor, which is described as “an African country that engaged in a conflict with NATO.”

Hackers from the African country use a computer virus to disable the avionics of a NATO military transport aircraft, causing it to crash in Hungary killing NATO servicemen and civilians.

They also disable Estonia’s key infrastructure facilities. The alliance faces the task of identifying the aggressor and using cyber and conventional warfare for retaliation.

Although the scenario speaks of “an African country,” NATO representatives have admitted in private conversations that they consider Russia, China and Iran the key potential cyber aggressors, Kommersant said.

US Defense Secretary Leon Panetta said last week that the United States is facing a possible “cyber Pearl Harbor” carried out by computer hackers that could result in infrastructure damage and loss of life.

by pna

The Irish Business and Employers Confederation, Ireland's largest employers organization, downgraded its growth forecast for the country's economy to 0.8 percent in 2012 from its previous estimate of 1 percent, citing poor trading conditions around Europe as the reason.

In its new Quarterly Economic Outlook, IBEC also revised downward growth forecasts for next year as a result of "anemic economic growth in the rest of Europe and heightened consumer worries at home."

It now expected GDP growth of 1.8 percent in 2013 (previously 2.3 percent), saying that strong growth "remains elusive."

The IBEC represents the interests of business in Ireland and provides a wide range of direct services to its 7,500 members.

The IBEC warned that some proposals emanating from the Irish government were at odds with its efforts to support job creation, and would damage growth and undermine the recovery in the face of tough trading conditions and depressed domestic demand.

Any move to introduce a statutory sick pay scheme or hike PRSI (Pay Related Social Insurance) would cost thousands of jobs and would fly in the face of the government's stated ambition to make Ireland the best small country in the world to do business, it said.

On Ireland's 2013 budget, the IBEC urged the Irish government to focus on cutting public expenditure and raising revenue in a way that is least damaging to growth.

"The most damaging thing the government could do in Budget 2013 would be to add to the cost of employment," said IBEC Chief Economist Fergal O'Brien.

by pna

The Department of Energy (DOE) has formulated the 2012-2030 Philippine Energy Plan (PEP) to be launched in December 2012 in time for the annual celebration of the National Energy Consciousness Month (NECM).

The Energy Plan highlights the policy vision of an economy which will become largely decarbonized with the development and utilization of renewable energy â€" hydro, geothermal, solar, wind, biomass and ocean energy, and with DOE taking the lead in promoting energy efficiency as a lifestyle, and advocating the use of alternative fuels for the transport sector.

The DOE has also simulated the energy needs of the country over the next 20 years by considering factors such as a 10.0 percent target energy savings across all economic sectors â€" transport, industry, residential, commercial and agriculture; an increase in the number of Compressed Natural Gas (CNG)-fed buses and possible introduction of CNG taxis, electric vehicles; and higher application of biofuel blends (biodiesel and bioethanol).

To further curb the country’s energy demand, the Plan also seeks to scale-up energy efficiency investments in both private and public sectors to generate more energy savings. The Plan also envisions accelerating the development and production of indigenous fossil fuels.

These low carbon programs will support the government’s climate change mitigation strategies thus helping the country achieve progress in meeting its greenhouse gas reduction goals.

The PEP also aims to climate-proof the energy system to help ensure they continue to provide energy services under all impacts of climate change.

Prior to the PEP’s publication, the DOE started its nationwide Information, Education and Communication (IEC) activities to inform the energy stakeholders. DOE already conducted IECs for Region IV-A last October 11 in Batangas and Region V in Naga City last October 18. Upcoming IECs will be held in the following regions: Region I and CAR in Ilocos Norte (Oct 25): Region II in Tuguegarao (Nov 13); Region IV-B in Puerto Princesa, Palawan (Nov 20); Region VI in Roxas City (Nov 22); Region VII in Tagbilaran (Nov 15); Region VIII in Tacloban City (Nov 7); and NCR (Dec 14) .

The IEC for the National Capital Region will be held during the 2012 NECM and 40th DOE Anniversary celebration.

For Mindanao, a series of consultations instead of IECs, will be conducted for the Mindanao Energy Plan (MEP).

by pna

The Liberian government in partnership with the World Bank and other international partners Monday launched the Integrated Public Financial Management Reform Project (IPFMRP) to strengthen fiscal discipline and enhance transparency and accountability in Liberia.

The landmark 28.55 million U.S dollars project will also enhance revenue mobilization and administration as well as provide support to the Public Financial Reform Agenda, according to the finance ministry officials.

Acting Finance Minister Sebastian Muah who launched the project in the capital Monrovia said the project will further deepen reforms that will advance accountability, transparency and reduce corruption in public institutions.

He said the project will enable Liberia's public financial management systems to graduate from transactional leadership in PFM to the kind of transformational leadership that will focus on driving the economy coherently to accelerate the aspirations and goals set out in the agenda for transformation.

Muah said public financial management is central to the country' s effort for sustainable economic growth and development through the efficient utilization of public resources.

The acting finance minister told his audience that the PFM strategy, crafted with the assistance of the World Bank and the IMF is anchored in the country's Agenda for Transformation and seeks to widen and strengthen PFM reforms that were initiated in 2006.

Speaking at the launching ceremony, Inguna Dobraja, World Bank Country Manager for Liberia project, said the new PFM project will pursue concrete improvements in selected systems, procedures, and resources, in a manner that would enable Liberia to gradually develop its own institutional, organizational, and human resource capacities in the next three to four years consistent with the Bank's broader agenda in improving governance.

The PFM project was ratified by the 53rd Liberian Legislature in June 2012. It was initiated to work towards improving budget coverage, fiscal policy management, financial control and oversight of government's finances.

by pna

Canada's central bank, the Bank of Canada, announced Tuesday that it is maintaining the current overnight interest rate at 1 percent.

This is the 17th consecutive time that the bank kept the rate unchanged.

The bank described a similar gloomy world economic outlook, saying global financial conditions have improved due to aggressive policy moves from major central banks.

As for the Canadian economy, the bank warned that the household debt burden is expected to rise further before stabilizing in a few years. It also expected housing activity to decline from historically high levels.

The bank said it will consider the imbalances in the household sector in its future monetary decisions.

The bank predicted exports to pick up gradually but remain below their pre-recession peak until the first half of 2014. It regarded the persistent strength of the Canadian dollar, which is influenced by safe haven flows and spillovers from global monetary policy, as one of the main challenges.

According to the bank, the economic expansion in Canada continues to be driven mainly by growth in consumption and business investment, and the economy is expected to pick up and return to full capacity by the end of 2013.

by pna

Rising exports of steam coal may push U.S. exports of coal to a record high in 2012, according to a government report released on Tuesday.

U.S. coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, said the report from the U.S. Energy Information Administration (EIA).

Exports for the first half of 2012 reached almost 67 million tons, surpassing most annual export volumes dating back to 1949, the EIA noted.

U.S. coal exports averaged 56 million tons per year in the decade preceding 2011.

Total U.S. coal exports, including steam coal for power and metallurgical coal for making steel, stood at almost 13 million tons in June 2012, surpassing April's record-setting monthly amount by 200,000 tons.

Though the EIA does not expect U.S. coal exports to continue at the current pace due to the slowing global economy, it still thinks that annual exports could beat the 1981 record.

by pna

The Obama administration was confident that U.S. lawmakers will adopt deficit reduction in a balanced manner and avoid a tax increase for 98 percent of the American people starting next year, a White House spokesman said on Tuesday.

The president was confident that the Congress will take the appropriate action to achieve a balanced deficit reduction plan in order to avoid onerous cuts in both defense and non-defense spending that were written into the law by the Congress, White House spokesman Jay Carney Tuesday told reporters aboard Air Force One en route to Ohio.

Analysts were watching closely whether the U.S. Congress would be able to lessen the impact of 560 billion U.S. dollars in tax increases and spending cuts, or sequester, set to take effect starting next year, a scenario dubbed as the "fiscal cliff".

"The sequester, which was designed and passed by the Congress, was never meant to become policy. It was never meant to be implemented. It's designed a trigger, a forcing mechanism to compel the Congress to make the difficult decisions required to reach a balanced deficit reduction package," Carney added.

Carney reiterated the stance of the Obama administration on budget deficit cuts, as both revenue increases and outlays reduction should be included in a balanced plan.

According to the Budget Control Act of last year, a bipartisan super-committee must find 1.2 trillion U.S. dollars in budget cuts, or a sequester of the same amount will come into effect.

by pna

Some 8,000 jobs will be made available once a French business process outsourcing firm starts its operation here soon.

Mayor Jed Patrick Mabilog said Atos Philippines has signified its intention to open its business in the metropolis.

“We welcome this newest investment as well as other BPO companies who find satisfaction and contentment doing business in Iloilo City,” he said.

“Their entry means more employment opportunities for Ilonggos and a much improved economy,” Mabilog added.

Atos Philippines officials led by Yheroi Kubena paid a courtesy visit to the mayor recently regarding their plan.

Kubena said they chose Iloilo City first for its strategic location and second for its readily available competent and capable work force.

The company is currently scouting for possible sites for its business and is expected to hire thousands of local graduates once it starts its operations, he stated.

Atos is an international information technology services firm serving a global client base including Nike and The Coca-Cola Company, delivering hi-tech transactional services, consulting and technology services, systems integration and managed services.

by pna

The Philippines ranked eighth out of 135 countries in the World Economic Forum's 2012 Global Gender Gap Index.

"The Philippines remains the highest-ranking country from Asia in the Index. It ranks first on both education and health and is also among the top 20 on economic participation and political empowerment," WEF said.

The Philippines ranking was better than Singapore (55th), Thailand (65th), Vietnam, (66th), Indonesia, (97th) and Malaysia (100th).

The Global Gender Gap Index examines the gap between men and women in four fundamental categories (sub indexes): economic participation and opportunity, educational attainment, health and survival and political empowerment.

The WEF report said the Philippines is the only country in Asia this year to have closed the gender gap in both education and health.

The Philippines also performs in the top 10 of the following indicators: legislators, senior officials and managers, literacy rate, enrolment in secondary education and years with female head of state.

Iceland topped the global gender gap rankings followed by Findland, Norway, Sweden and Denmark.

Countries in the bottom 10 are Yemen (135th), Pakistan (134th), Chad (133rd), Syria (132nd), Saudia Arabia (131st), Cote d' Ivoire (130th), Morroco (129th), Mali (128th), Iran (127th) and Egypt (126th).

The report also said that countries that have made investments in women’s health and education and generally see the returns on this investment in terms of women’s economic and political participation include the Nordic countries, the United States and the Philippines.

by pna

Voters in the U.S. state of Arkansas prefer Republican candidate Mitt Romney over President Barack Obama and remain worried about the economy, according to a poll released Wednesday.

The poll, conducted by the University of Arkansas, showed that likely voters prefer Romney to Obama by a wide margin, 58 percent to 31 percent.

The economy again led the list of most important issues to Arkansans, with 47 percent of the respondents naming the economy as their chief concern, following at a distance were health care at 15 percent, drugs at 12 percent and education at 11 percent. Taxes and immigration were in the single digits.

"To the surprise of no one, there's at least a 20 point gap between Obama and Romney among Arkansas voters," poll director Janine Parry said.

"A more interesting finding may be the continued enthusiasm for Gov. Mike Beebe. Since 2007, approval of Gov. Beebe has never dipped below 70 percent. That level of support for a Democratic governor in a Southern state is remarkable in this political climate,"said Parry.

In addition, the poll found that 43 percent of the likely voters want to expand Medicaid to provide health insurance to more low- income people, while 45 percent wanted to keep the program as it is, with no additional federal funding and no change in who is covered.

by pna

The Danish government is revising its strategy to boost Denmark's exports to six emerging economies, on top of Brazil, Russia, India and China (BRIC), by 50 percent over the next five years, the Foreign Ministry said here Thursday.

South Korea, South Africa, Vietnam, Turkey, Indonesia and Mexico will be on the map of the new strategy enacted last May.

The strategies for the BRIC-plus-six emerging markets is expected to raise the value of Danish exports to these nations to 90 billion Danish kroner (15 billion U.S. dollars), up from 60 billion kroner over the next five years, the Foreign Ministry said in a statement.

"We face a great challenge in finding a foothold in new markets," said Danish Trade and Investment Minister Pia Olsen Dyhr in another statement released through the foreign ministry.

"We have been slow in seeing the potential in the next wave of emerging economies, and we are trying to catch up on trade lost with the BRICs," she added in the statement.

The government believes Danish industries can make use of their traditional strengths in areas such as life sciences, renewable energy, clean water technologies, shipping, and food safety products, and export their know-how and products to emerging economies.

Exports make up some 50 percent of Denmark's GDP, with around 63 percent of exports heading for European Union (EU) countries and other markets.

by pna

Crude prices fell on Wednesday as United States (U.S.) crude inventories increased more than expected last week.

The crude prices were heavily pressured after the Energy Information Administration said on Wednesday that U.S. crude inventories rose by 5.9 million barrels to 375.1 million barrels in the week ended Oct. 19 due to a rise in imports.

Market analysts had expected a 1.7-million-barrel increase. Gasoline stocks also rose by 1.4 million barrels in the week.

Weak European economic data also weighed on the market, as Markit's Composite Purchasing Managers' Index for the eurozone fell to 45.8 in October, the lowest reading since June 2009.

The manufacturing PMI in Germany, Europe's largest economy, also dropped unexpectedly in the month.

The Ifo German business climate index fell for the sixth straight month to its lowest level in more than two years, adding to the concerns about the region's economic outlook.

The U.S. dollar rose on Wednesday against its major counterparts. A stronger greenback pushed the oil prices further down.

But there were also some lifting factors in the market, helping limit oil's losses. Iran's oil minister reportedly said on Tuesday that his nation would stop oil exports if the United States and Europe tightened their sanctions on Tehran, posing a potential threat to stable global supplies.

Meanwhile, the U.S. Federal Reserve ended a two-day policy meeting on Wednesday and left its current monetary easing policy unchanged as expected.

And the U.S. Commerce Department's data showed that sales of new homes in the country rose 5.7 percent to 389,000, the most since April 2010.

by pna

With South Korea's presidential election less than two months away, foreign experts on Thursday urged Seoul's incoming government to resume a dialogue with Pyongyang, while taking a more aggressive approach to convince North Korea to give up its nuclear weapons program.

Diplomacy with North Korea to persuade it to abandon its nuclear drive has never been straightforward, but dialogue is the best way to lead Pyongyang out of isolation and resolve its nuclear program, the experts said at a forum in Seoul hosted by the National Unification Advisory Council.

Zhu Feng, a professor of international studies at China's Peking University, said it would be difficult for China to prod North Korea to open up its moribund economy without cooperation from South Korea.

"The positive future of the Korean Peninsula depends on close cooperation, communication and strategic trust between China and South Korea," the Chinese professor said.

Analysts and government officials in South Korea have searched for any signs of economic reform since the North's new leader Kim Jong-un succeeded his late father, Kim Jong-il, last December. Still, they are skeptical over whether the young Kim would be serious about opening up the communist country to foreign influences outside of his control.

Bruce Klingner, a senior researcher at the Heritage Foundation, called for South Korea's new government to make effective use of both positive and negative inducements to resolve the North's nuclear standoff.

by pna

The Department of Interior and Local Government (DILG) on Wednesday bestowed award on this year's regional recipients of Gawad Pamana ng Lahi (GPL).

In a simple ceremony held at the Oxford Hotel, DILG Secretary Mar Roxas personally handed the prestigious awards to this year's winners--Balanga City, Bataan, San Luis, Aurora and Tarlac.

GPL is a total award concept conferred to provinces, cities and municipalities that have exhibited exemplary performance in administrative, social, economic and environmental governance.

Roxas, in his message, cited the importance of good governance in national development and how it brings out the best in the Filipinos.

"Good governance is the key to progress. We all know that. Through good governance, the economy will be better, there will be more investors, prices of basic goods will be lower and there will be stability for our constituents," he said.

by pna

The unemployment rate in Spain edged up to 25.02 percent in the third quarter of 2012 from 24.63 percent in the previous three months, latest figures released on Friday showed.

According to a Spanish National Statistic Institute report, close to 5.8 million Spaniards are currently out of work, as austerity bites into the country's struggling economy. This is the the highest percentage since 1976.

The number of unemployment people in Spain rose by 85,000 in the third quarter of the year. Over the past 12 months, nearly 800,000 people lost their jobs.

The figures also showed that there are now 1,737,900 households in which no family member is employed.

Although this figure only increased by 200 from the previous quarter, it has risen by 312,700 over the past 12 months.

Women and young people under 25 are the most affected group by unemployment with 75,500 women losing their jobs between July and September, in comparison to 9,500 men.

by pna

The Subdivision and Housing Developers Association has called for a faster processing of permits and licenses to sustain the momentum in housing production and address the 4.65 million units housing backlog in the country.

This was identified as part of the gaps in the value chain by the SHDA in the industry roadmap that it submitted to the Board of Investments along with 10 other industries.

Paul Tanchi, SHDA president, noted that delays in development permits at local government unit level have could hinder mass housing production.

Aside from permits and licenses, the SHDA also said that maintaining affordability and sustainability of housing in the country through financing schemes, and by developing a comprehensive government housing assistance for targeted segments are priority areas that government should look into.

According to Tanchi, before the roadmap process, the industry was aware that a housing backlog exists but the extent was not very clear.

”Now that we have prepared the roadmap, we were able to probe the issues affecting the value chain of our sector and factors that could help it grow,” said Tanchi.

“We recognize the need for stronger collaboration among industry players, key shelter agencies, and the national government to address these gaps,” added Tanchi.

Based on the mass housing industry road map, a 1-peso increase in investment spending in the housing industry generates P3.32 additional output to the economy.

Likewise, a P100M investment in construction is estimated to generate P47M in additional household income which corresponds to the creation of 228 direct jobs.

Trade and Industry undersecretary and BOI managing head Adrian Cristobal Jr., who spearheaded an industry-wide road map formulation, stressed the need for genuine collaboration with the private sector.

“We are reviving industry policy through the industry development road maps project so we can all agree on visions, strategies, and deliberate actions for industries to create meaningful jobs in the country,” Cristobal said.

Cristobal added that same shift to industry policy is also happening not just in the Philippines but also in Europe, South Asia, and South America.

by pna

International Enterprise (IE) Singapore has expressed interest to venture in Public Private Partnership (PPP) projects in Davao City, this was announced Friday by Davao City Chamber of Commerce and Industry, Inc. (DCCCII) president Maria Lourdes Monteverde, MD.

IE Singapore is the government agency responsible for driving Singapore's external economy.

Monteverde said IE Singapore indicated its interest for Davao City during DCCCII's recent trade mission to Singapore together with some representatives from the Davao City government.

To start with, IE Singapore has positioned the National University of Singapore to conduct a research/study on potential projects under PPP in Davao City, Monteverde said, adding that the Singapore government is planning to focus on agriculture mainly on cacao and coconut industry.

She said IE Singapore and representatives from the National University of Singapore will participate in the upcoming Davao Investment Conference on November 15-17 in Davao City, to discuss further its investment interests.

Monteverde said IE Singapore is also looking at Davao City's sanitary landfill and medical facilities and technologies as possible areas for investment.

Also, IE Singapore together with the Malaysian government are interested very much in promoting Davao as tourist destination particularly for what they call as "honeymooners’ tourists".

by pna

President Lee Myung-bak called Monday for boosting the morale of businesses so that they can work harder and help lead South Korea out of the economic slowdown amid growing concern Asia's fourth-largest economy may be entering a low growth trend.

Lee made the appeal after the Bank of Korea's data showed last week that South Korea's economy grew 0.2 percent in the July-September period from three months earlier, the slowest pace in nearly three years after a 0.2 percent on-quarter gain in the fourth quarter of 2009.

"The nation's growth is somewhat slowing as the world enters a low-growth era. The Korean economy has been faring relatively better than many other economies, which in turn means the lowering of the foreign exchange rate. This, however, makes difficulties for exporters," Lee said during his biweekly radio address.

Lee said he is still confident of a fast turnaround.

"This is a time for the government, business and the public to join forces to increase investment and create more jobs," Lee said. "When the going is tough, it is all the more necessary to boost entrepreneurship. I hope the business people particularly will show a challenging entrepreneurship spirit."

Lee has voiced concern in recent weeks about rising "anti-business" sentiment as politicians from both ruling and opposition parties have stepped up calls for tightening the reins on conglomerates under the slogan of "economic democratization" ahead of December's presidential vote.

Conglomerates view such calls with concern they could be unfairly discriminated against.

Lee said the government will actively support and encourage all businesses, big, and small and medium-sized businesses (SMEs) just as it did during the 2008 global financial crisis.

Lee also hailed a series of South Korean achievements in diplomacy and green growth.

In the last couple of weeks, Korea was elected to the U.N. Security Council; won the right to host the secretariat of the Green Climate Fund (GCF), a massive U.N. climate fund; and saw the launching of the Seoul-established Global Green Growth Institute (GGGI) as an official international organization.

In particular, Lee said the GCF secretariat will bring "enormous" benefits.

by pna

The South Korean won has gained the most against the United States (U.S.) dollar among Asian currencies since July as global stimulus measures have added liquidity to the market, data showed Monday.

The won has climbed 4.5 percent against the greenback since July 2, marking the highest appreciation among Asian currencies, according to the data by the Bank of Korea.

The local currency ended at 1,097 won against the greenback on Friday after breaching the 1,100 won level in the previous session for the first time since Sept. 9, 2011.

The Chinese yuan and the Singapore dollar climbed 1.8 percent and 3.69 percent against the greenback, respectively, over the cited period.

Meanwhile, the euro gained 2.2 percent against the U.S. dollar.

The Asian currencies' ascent came as the economic stimulus measures taken by advanced countries exerted upward pressure by adding more liquidity into the global market, dealers said.

In September, the European Central Bank announced an unlimited government debt purchasing plan, while the U.S. Federal Reserve pledged to inject US$ 40 billion monthly to purchase mortgage-backed securities to revitalize the economy.

Asian currencies also became favorable destinations for investors, as their countries boasted higher key interest rates than advanced nations, market watchers said.

South Korea's key interest rate currently stands at 2.75 percent, while the U.S. and the eurozone hold comparable rate of 0.25 percent and 0.75 percent respectively, industry data showed.

The South Korean won is expected to remain strong against the greenback down the road as its government is reluctant to intervene in the foreign exchange market and holds abundant foreign reserves, market watchers said.

by pna

Average rate of the government’s short term securities fell Monday on higher liquidity situation in the country, given last week’s cut in central bank rates.

Average rate of the three-month paper, which banks use for the pricing of their loans, averaged at 0.46 percent, lower than the 0.71 percent on Oct 1, 2011.

Total tenders were more than five times at P5.86 from the P1 billion offering.

Also, rate of the 182-day bill averaged at 0.70 percent, down from the 1.05 percent two weeks ago.

Bids for this tenor amounted to P9.55 billion but the auction committee awarded P2.5 billion as offered.

For the one-year paper, average rate stood at 0.95 percent, lower than the 1.35 percent it fetched in the previous auction.

The auction committee made a full award of P4 billion even as bids were more than two-fold at P9.15 billion.

The Bangko Sentral ng Pilipinas’ policy-making Monetary Board cut for the fourth time this year the central bank’s policy rates to record-low Thursday last week to boost growth of the domestic economy vis-à-vis negative development overseas.

To date, the overnight borrowing or reverse repurchase rate is at 3.5 percent and the overnight lending or repurchase rate is at 5.5 percent.

National Treasurer Roberto Tan said improvement in the country’s economic fundamentals as well as the fiscal situation are the main drivers in the drop in the treasury bills.

“The markets are not expecting to borrow aggressively. We have just finished the RTBs. They know we are not in a position that we are looking for cash,” he added.

by pna

An international brand in home furnishing products is now in Cebu to encourage creativity in design among Cebuanos.

DwellStudio, a leader in the décor and bedding market, was launched over the weekend in Rustan’s Ayala, its first outlet in Cebu.

”We’ve been told that Cebu is a tough market to penetrate since most shoppers are picky and are always looking for value. DwellStudio delivers the value,” said Quirks Marketing Philippines marketing manager Anne Gretchen Choa-Uy.

”We aim to provide Cebu with the same products in Manila,” she added.

Quirks Marketing Philippines (QMP) is the exclusive distributor of DwellStudio in the country.

QMP has been in partnership with Rustan’s for the last five years.

All Rustan’s branches carry a complete collection of DwellStudio.

QMP also supplies DwellStudio pieces to retailers, specialty stores, and baby and organic boutiques nationwide.

Currently QMP is the only DwellStudio distributor outside the United States and Canada with complete home and baby line-up.

The company was founded as Dwell Home Furnishings in 1999 by Christiane Lemieux.

According to Choa-Uy, DwellStudio revolutionizes how people decorate spaces and, she hopes, will change the way they live.

DwellStudio is a blend of traditional and modern designs which explores color, pattern and form.

Generally, DwellStudio targets women, but they also cater to designers and decorators.

”With the economy, it’s hard to define and limit our clientele. We try to understand the growing market and address expectations, especially when it comes to pricing. DwellStudio doesn’t even believe in celebrity endorsements. We let our customers feel our product literally and let it speak for itself,” Choa-Uy explained.

by pna

Two think tanks from China and the Republic of Korea inked an agreement Monday vowing to enhance research cooperation regarding several economy-related issues, as well as climate change response and social management.

The Academy of Macroeconomic Research in east China's Shandong province has agreed to initiate cooperation with ROK's Seoul Institute in multiple areas, including business and cultural exchanges between Shandong and Seoul, exploitation of the Yellow Sea economic circle, the establishment of a China and ROK free trade area, marine and low-carbon economics, responses to global climate change and social management, according to the agreement.

The two sides also agreed to hold academic seminars, share research resources and increase exchanges in order to beef up bilateral ties.

"The signing of the agreement indicates that cooperation between Shandong and Soul has entered a new stage and will definitely exert a positive influence on the establishment of a China and ROK free trade area," said Zhang Chaochao, vice governor of Shandong.

Lee Chang-Hyun, president of the Seoul Institute, said the two sides will expand exchanges and cooperation, as they have the capacity to play complementary roles for each other.

The agreement is the latest effort to promote the establishment of a pilot zone for economic cooperation at local levels between China, ROK and Japan in Shandong, a plan that was proposed during a May business summit held in Beijing.

Shandong plans to establish a one-to-one economic partnership with the ROK, as well as between its seven cities and eight cities from the ROK.

by pna

Manila Electric Co. (Meralco), the country's largest power distributor, on Monday reported a consolidated core net income for the nine months of the year amounting to P12.9 billion, up 11 percent from P11.9 billion for the same period last year.

Meralco officials, in a briefing, said that consolidated net income for the period reached P13.6 billion, 37 percent higher than the P10 billion in 2011.

Meralco chairman Manuel Pangilinan said that given the company's positive performance in the nine-month period, the power distributor was looking at a core net income of P16 billion.

"Given Meralco's performance to-date and the outlook for the rest of the year, we wish to advise our upgraded 2012 guidance for core earnings of P16 billion. Based on continuing strong sales in October, we're trending slightly north of 7 percent. Of course, we don't know how November and December are likely to turnout, and the slightly higher distribution charge for the second half for this year compared to the first half," Pangilinan said.

Earlier, Pangilinan was looking at a full-year core income of P15.5 billion, higher than last year's full-year income of P14.9 billion.

Volume of energy sold during the first nine months reflected an eight percent growth despite the number of severe weather disturbances and holidays during the period.

Consolidated revenues, which consist largely of electricity sales, increased by 14 percent to P214.7 billion, driven by the higher volume of electricity distributed as well as the higher average purchase price during the period, due largely to the increased in generation charges.

"The rise in our energy sales volume reflects a resilient economy supported by a stronger domestic consumption and higher government infrastructure spending. We continue to be optimistic of our business, having seen the better-than-expected results and are committed to implement capital expenditures to be in excess of P11 billion to further improve network reliability," Pangilinan said.

Billed customers grew to 5.2 million, a total of over 130,000 new customer accounts during the nine month period.

Meralco president Oscar Reyes said power generation would be the company's long-term game changer, providing Meralco with the vehicle for complementing its power supply contracting for more competitive prices for its customers.

"Our strategic intent is to build new highly-fuel efficient, environmentally sound and reliable combined cycle baseload and mid-merit plants of up to 2,700 MW (megawatts) over the next five years. We continue to look for opportunities in the grids outside Luzon, and potentially even outside of the Philippines, to enhance our profitability,"Reyes said.

by pna

Immigration reform is still an important issue in the U.S. presidential campaigns as both candidates pledge to support it, though they differ on how.

In their second presidential debate on Oct.16, President Barack Obama reiterated his support for comprehensive immigration reform, and his Republican challenger Mitt Romney also said he would support it, but blamed Obama for failing to get the issue done in his first term.

"I'll get it done. I'll get it done. First year," Romney pledged, attacking Obama by saying, "My view is that this president should have honored his promise to do as he said."

Obama recently has reiterated that he is confident he can pass a compromise immigration bill if he wins a second term.

Despite their support for such a move, they differ on how to do it.

Obama's reform includes a pathway to citizenship for about 12 million undocumented immigrants in the United States, but Romney made clear that he doesn't favor "amnesty" for those in the country illegally.

Obama also called out at Romney for backing "self-deportation," a philosophy that involves passing tough immigration enforcement laws that would in turn push undocumented immigrants to leave the country on their own.

However, Obama expressed his willingness to trade with Republicans in the U.S. Congress for an increase in security along the U.S.-Mexico border with increased deportations.

For Obama, a Democrat, it is important to pledge to his supporters that he would finish the unfinished in his second term on immigration reform, while for Romney, a Republican, it is a chance to win support from those who thought he would not support immigration reform.

Hispanics and other ethnic voters are strong supporters to immigration reform. Neither candidates want to lose those votes.

There are 52 million Hispanic citizens in the United States, including 24 million who can vote, which represent 11 percent of the electorate in the country.

According to the Pew Hispanic Institute, those voters rank immigration as one of their five chief concerns behind the economy and jobs.

That could tip the balance in states with a large Hispanic population, including battleground states Nevada, Colorado and Florida.

A recent poll by polling body Latino Decisiones shows that Obama has about 71 percent of support among Hispanic voters, while Romney has only 20 percent.

However, even those who support Obama are also disappointed in him for failing to fulfill a 2008 promise for comprehensive immigration reform.

Meanwhile, Republicans accuse Democrats of exploiting the issue to divide the Republican Party and Hispanic communities.

Alci Maldonado, head of the Republican National Hispanic Assembly, has said that it was Republicans who presented a vast immigration reform plan under President George W. Bush, which failed to make it through the Senate in 2007.

But today Republicans "are facing the consequences of the negative environment which they created for Latinos," Jody Vallejo, a sociology professor at the University of Southern California, told AFP.

Business Week said in an article that beyond the huge importance of immigrants to the U.S. economy today, three forces are making immigration reform more urgent.

Growing crackdowns on undocumented workers at the state level are already hurting farming and are likely to spread to other sectors, including construction; the aging of populations worsens in the U.S. and Europe; increasing opportunities in the developing world are luring home skilled immigrants that the U.S. needs most.

High-tech industries probably have the most to gain from action on immigration, Business Week noted.

Carl Lin of Rutgers University looked at the impact on tech stock prices by a doubling of H-1B visas for skilled foreign workers, thanks to the 1998 American Competitiveness and Workforce Improvement Act.

High-tech industries absorb around 80 percent of H-1B visa applicants, according to Business Week.

Lin estimated that in the month after the act passed, companies in those industries enjoyed 15 percent and higher cumulative excess returns - a measure of the impact of news on stock prices, said Business Week.

According to a Kauffman Foundation study by researcher Vivek Wadhwa, in 2006, one-quarter of all patent applications filed in the U.S. were made by foreign nationals.

by pna

Foreign investors became net sellers of local shares this month as they chased after profit-taking amid an appreciation of the local currency against the greenback, data showed Tuesday.

Overseas investors dumped a net 1.2 trillion won (US$ 1.1 billion) worth of local shares through Friday this month, ending their third consecutive month of net buying in September, according to the Financial Supervisory Service.

Foreign investors were net buyers of local stocks in July and August, purchasing 549 billion won and 5.4 trillion won worth of local shares respectively, the data showed. Last month, overseas investors also scooped up a net 3.4 trillion won.

Their buying streak came as economic stimulus measures taken by advanced countries helped pump more liquidity into the local stock market, analysts said.

In September, the European Central Bank announced an unlimited government debt purchasing plan, while the U.S. Federal Reserve pledged to inject $ 40 billion monthly to purchase mortgage-backed securities to revitalize the economy.

However, due to the protracted appreciation of the South Korean won against the U.S. dollar, overseas investors pulled out their money from the local bourse on expectations that they would not benefit from the rising won, market watchers said.

The local currency ended at 1,095.80 won against the greenback on Monday, continuing its gaining streak to a 13-month high.

"Lingering concerns over whether the U.S. will face a fiscal cliff, and its upcoming presidential election also fueled investors' appetites for safer assets," said Park Yuna, a researcher a researcher at Dongbu Securities Co.

Meanwhile, foreign investors were net buyers of local bonds through Friday this month, purchasing a net 2.6 trillion won, industry data showed.

However, local analysts said that given the appreciation of the local currency, foreigners are likely to withdraw part of their bond investments from South Korea.

"As much of overseas investments on local bonds are speculative, it is possible that foreign investors will pull out their money," said Kong Dong-rak, a fixed-income analyst at Taurus Investment & Securities Co.

The gloomy outlook on the overall fundamentals of the Asia's fourth-largest economy also gave an adverse impact on the foreign investments into the local financial market, as stronger won is feared to dampen the country's exports.

A stronger won inflicts foreign exchange losses on exporters, making South Korean goods more expensive overseas, which damages earnings.

As the South Korean stock market depends heavily on investments from overseas, financial authorities should take proper measures to prevent a possible "exodus" of foreign capital, the market watchers said.

by pna

Thousands of tourists, residents and visitors continuously flock here to participate in the nine-day “Raniag” Vigan City Twilight Festival 2012 that kicked off Oct 26.

Tuesday night, the visitors crowded the candle floating spectacle at the historic Mestizo River at Celedonia Garden in Barangay Beddeng, Vigan City. The event coincided with an acoustic competition.

Mayor Eva Marie Medina is elated at the continuing success of this year’s "Raniag Twilight Festival".

“This year’s festival is filled with various exciting events and activities that will induce positive impact to our economy and our tourism industry,” she said.

The festivities kicked off with the groundbreaking of the Vigan Conservation Complex in Barangay San Julian Sur; Halloween street dancing participated by eight contingents last Oct 27; parade of floats with at least 30 participants and battle of the bands last Oct 28; Halloween costumes fun run and trick or treat last Oct 29; candle floater offering at Mestizo River last Oct 30; flight of sky lantern last October 31; and Halloween Parties in Vigan on Nov 1 and 3.

“The festival is being held to offer thanksgiving to the Lord and to dramatize the commemoration of our departed kin,” she said.

"Raniag" is an Ilocano term which means light (sic).It connotes that the light that we offer to the Lord in the thanksgiving; the beacon that symbolizes our love for our departed kin; and the warmth of the bonding renewed in reunion held during this time of the year," the mayor said.

by pna

Budget and Management Secretary Florencio Abad expects the Philippine economy to further proved its resiliency to bleak global economy following the upgrade to a notch below investment grade of its credit rating.

Moody’s Investors Service on Monday upgraded the country’s investment grade to “Ba1” from “Ba2” with ‘stable’ outlook after noting the continued improvement in economic and fiscal performance amid negative global economic developments, better medium term economic prospects, and stable financial system.

The upgrade brought the country’s credit grade level among the three major debt watchers, including Fitch Ratings and Standard & Poor’s (S&P), at the same level.

Abad thanked Moody’s for the upgrade, saying that this brought the country “one step closer to investment grade.”

“The upgrade affirms what the Aquino administration’s efforts to ensure the country’s economic resilience and widen more opportunities for growth amidst the global economic slowdown,” he said.

He said improvement in the country’s credit rating “means that there are greater expectations from the international community on our fiscal performance.”

“President (Benigno) Aquino (III) is intent on fulfilling these expectations, and we in the DBM are equally inspired to take the necessary measures to ensure faster and more efficient spending across the bureaucracy, even as we adhere to the principles of open, transparent, and accountable budgeting,” he said.

Similarly, Abad said the upgrades would enhance DBM’s ability to put in necessary reforms in the government.

by pna

Vendors' improper storage techniques are responsible for over 70 per cent of spoiled milk in Vietnam, according to a two year study by the Ministry of Health's Food Administration.

The alarming figures were revealed at a conference on milk safety management in Hanoi Tuesday by the Food Safety Management Division under the Department of Science and Technology from the Ministry of Industry and Trade.

Improper storage of milk products by consumers is also a factor leading to poor quality, accounting for nearly 20 per cent of spoilage, while the use of additives causes roughly 4 per cent of waste.

Contrary to the huge wastage caused by handlers, the department pointed out that the production process itself is only responsible for 1 per cent of poor quality milk.

Despite the amount of wastage, milk products have lately been one of the Vietnamese economy's star performers.

According to Tran Nguyen Nam, deputy head of MoIT's Domestic Market Department, the milk production industry has achieved the strongest growth among all Vietnamese food sectors in recent years.

Participants at the conference expressed concern that there are still unresolved issues in relation to milk production and trading.

The World Chinese Economic Forum, attended by leading industry players and businessmen, will be held for the first time outside Malaysia this year.

The annual forum, which brings together government, business and thought leaders, will be held in Melbourne for two days beginning Nov. 12.

Forum Advisor Datuk Seri Dr Chua Soi Lek said Australia was chosen on the invitation by the Victoria state government to host the event as the state has substantial Chinese population.

"Australia, known as a fast growing economy with huge natural resources, has also been attracting more investment from China," Chua said during a media briefing Wednesday.

The World Chinese Economic Forum brings together leading business and community leaders from the Chinese diaspora worldwide.

by pna

Embracing policies to remove difficulties in the economy, surplus stock, and instability in the financial system and the stock market were the main issues discussed Tuesday at the 13th National Assembly here.

Talking over of the country's socio-economic and State budget in 2012 and plans for 2013, deputies said the Government should declare comprehensive measures and policies to promote the economic restructuring process and reform of growth models.

Deputies also agreed the Government should continue to control inflation, macroeconomic stability and flexibility in monetary policy management.

They felt priority should be given to helping enterprises reduce surplus stock, handling stagnant debts from state invested projects, and speeding up the disbursement process of State budget capital projects.

"Bad debts are like clotted blood that are blocking the circulation of the economy and killing businesses" said Tran Du Lich from HCM City.

Lich urged the Government to find solutions to warm up the frozen property market, one of the main contributors to bad debts.

He also proposed the establishment of a National Economy Restructuring Committee under the Prime Minister to foster the restructure and modernization of enterprises.

Tran Ngoc Dang from Binh Duong said to resolve bad debts, the country should not only look to the domestic sector to buy them up, but also further afield to international organizations.

Dang said as many as 100,000 apartments worth VND 70 trillion (US $ 3.6 billion) were vacant, which was eating up investors' capital.

"Measures are needed to encourage consumption in these fields through the expansion of consumption markets domestically and abroad."

He said bad debt was high in many industries, including plastics, processing, tobacco and heavy industries like cement, steel and manufacturing.

by pna

The Monetary Council of Hungary's central bank reduced the benchmark interest rate by 25 base points to 6.25 percent on Tuesday, the third such move in as many months.

The move was widely anticipated by financial analysts who are predicting a year-end rate of 6 percent and further reductions in 2013.

With Hungary in recession, many feel the rate cut is a move to stimulate the economy into performing better. Others are concerned the lower rate might trigger a spike in inflation.

Several monetary council members said earlier that the country was cautiously easing rates, which they felt would not influence inflation, which by law, the central bank is charged with reining in.

Four of the seven members of the bank's monetary council are appointed by the government, which has been calling for lower interest rates all year. These four have outvoted central bank governor Andras Simor and his two deputies in the previous two decisions to cut rates.

by pna

The recovery of the U.S. housing market, which has gained momentum earlier this year, is facing fresh challenges from flooding and property damage imposed by Hurricane Sandy, local media reported Tuesday.

The tropical gale battered houses in U.S. eastern coastal states, accounting for about one fifth of the country's real estate sales, and threatened inland areas with flooding and blackouts, the reports said.

CoreLogic Inc., a California-based mortgage software and data firm, estimated that about 88 billion-dollar worth of homes in seven U.S. states are at risk of damage, with New York having 35.1 billion-dollar worth of property in harm's way and New Jersey having 22.6 billion dollars affected.

In addition, super storm Sandy may also adversely impact commercial properties and securities linked to their debt. New York accounts for 13.2 percent of property loans contained in commercial-mortgage bonds, said the reports.

There would be definitely lower numbers in new sales and applications of mortgages, noted David Stevens, president of the U. S. Mortgage Bankers Association. "We do expect to see lenders put a freeze on properties across the northeast on the shoreline until they can be inspected and assessed for damages."

by pna

Despite the worldwide economic crisis, President Benigno Aquino III said good governance played an important role in maintaining the Philippines' economic growth.

In his speech at the 20th anniversary of the Philippine Exporters Confederation Inc. (PhilExport) held Tuesday evening at the World Trade Center, the President said that his administration has worked long nights to find solutions on how the country weather the global economic crisis that has affected even third world countries such as the United States and Europe.

"And through hard work, perseverance, and a little creativity, we did indeed find the solutions. Our push for reforms in our institutions is bearing fruit: We are seeing improved business confidence and greater citizen participation," he noted.

President Aquino cited such reforms like the implementation of a new budgeting process -- a zero-based budgeting, "through which we are curbing government spending on projects that simply do not work, and spending that money, instead, on programs that directly help our people."

He said his administration also pursued procurement reforms, "which allowed us to make certain that we get the best price for every bridge and every road we had to build."

The President said these reforms have allowed the government to give conditional cash assistance to some 3.1 million poor Filipino families, send their children to school, and for expecting mothers and children to receive regular medical check-ups.

"These have (also) allowed us to fund our efforts to erase our backlog in classrooms, and to expand the coverage of our health care system. Amazingly, while we were doing this, our deficit figures actually improved, from 3.5 percent of Gross Domestic Product in 2010, to two percent in 2011," he noted.

With just more than two years after the Aquino administration took office, the Philippines has been on the receiving end of nine credit ratings actions, including an upgrade of Moody’s credit rating from Ba2 to Ba1.

"The results of our efforts have also been shown in the economy. In the first 27 months of our administration, our stock market has reached record highs 46 times -- or broken highs 46 times. In the first semester of this year, our economy grew by at least 6.1 percent, so far besting our forecast of five to six percent," the President said.

The 2012 report of Knight Frank and Citi Private Bank also projected the Philippines to be the sixth fastest growing economy in the world for the period between 2010 to 2050.

"Might I emphasize -- this is all happening at a time when the world economy is beset with uncertainty," he stressed.

President Aquino urged the export industry to continue efforts as a major driver of growth for the country's economy.

"For two decades, your organization has taken the lead in developing a strong export industry, ensuring that our products are competitive in the global market. Indeed, the export sector is a major driver of growth for the national economy, creating employment and business opportunities for our people," he said.

"We in government count on our partnership with your sector. Let us sustain our solidarity and dynamism in refining our mission of revitalization with appropriate policies and procedures -- and effective infrastructure for the benefit of investors and exporters alike, which redounds to the public welfare," he added.

by pna

The government of Ghana and the European Union (EU) signed a 97-million-euro grant agreement Tuesday to assist Ghana in its health and local government development.

Out of the amount, 52 million euros will be utilized in supporting Ghana's drive to eradicate maternal mortality and child mortality in line with the Millennium Development Goals ( MDGs) Four and Five, while 45 million euros will support the country's decentralization process.

Signing for Ghana, minister for Finance and Economic Planning Kwabena Duffuor said the Maternal Health Support Program (MHSP), which would benefit from 50 million euros of the grant, aimed at reducing by two-thirds maternal mortality by 2015.

He expressed gratitude to the EU for its continued support for the decentralization process in Ghana, pledging that the new grant would help in consolidating the gains made so far in decentralization.

Duffuor assured Ghana's partners that their support was not being thrown away but into an economy that had huge prospects, promising that although elections were near, macroeconomic stability would be sustained through prudent spending.

The visiting EU Commissioner for Development, Andris Piebalgs, who signed for his outfit, said the grant was an important part of the one billion euros raised from EU tax payers to help attain the MDGs.

He believed it was important for the Ministry of Health to make good its promise of reaching the MDGs by the target date of 2015.

According to him, the EU was also in to strengthen good governance in Ghana through its decentralization program, and promised the EU's readiness to continue supporting Ghana to bring quality development to its people.

by pna

Zimbabwean President Robert Mugabe on Tuesday called for peace and tolerance among Zimbabweans as the southern African country heads for general elections next year.

Opening the fifth session of the seventh Parliament, he said Zimbabweans must remain focused on building the country for the benefit of current and future generations.

"As we look ahead, irrespective of our political differences, let us continue to be bound together as Zimbabweans and to maintain a disciplined focus on the task of developing our country for the benefit of our current and future generations.

"Let us continue to engender within ourselves the belief that we are masters of our own destiny and the resolve to jealously guard our hard won independence and nationhood, hoisting national unity as our solid bond," he said.

"I want to appeal to all leaders, party followers and stakeholders including the media, to adopt to pledge to work genuinely for national unity. Let us shun violence in all its manifestations and latent forms, especially as we look forward to our national elections," he added.

Mugabe said it was critical that Zimbabweans believed in their capacity to solve the country's challenges without external interference.

"These cruel measures undermine our people's efforts to turn around the economy," he said, adding efforts would continue to be directed through the Zimbabwe-European Union dialogue to push for the total lifting of the embargo.

Mugabe said Zimbabwe would continue to count on the security agencies to guarantee a peaceful and stable environment.

The last elections held in 2008 were marred by incidents of violence largely blamed on supporters of the country's top two political parties Zanu PF and the Movement for Democratic Change (MDC) formation led by Prime Minister Morgan Tsvangirai.

Western countries, in particular Britain and the United States have in vain used various tricks to push for the ouster of President Mugabe through meddling in the country's internal affairs.

The countries have imposed sanctions on Zimbabwe, which have been largely blamed for fueling economic challenges which the country experienced in the past decade.

The fifth session of the Seventh Parliament of Zimbabwe is expected to pass a number of landmark bills, including the new constitution, which will pave way for the general elections in 2012.

by pna

South Korea's industrial output crept up in September from a year earlier, but its growth pace remained sluggish apparently affected by cooling demand amid concerns over the eurozone debt crisis and global slowdowns, a government report showed Wednesday.

According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries grew 0.7 percent last month from a year earlier, quickening from the previous month's 0.3 percent on-year gain.

The output also grew 0.8 percent compared with a month earlier, turning around from three consecutive months of contraction. The service sector production expanded 2.5 percent on-year in September and gained 0.7 percent from a month earlier.

"The mining, electricity and gas industries saw contractions, but the manufacturing sector posted growth," the report said.

Industrial output growth has been picking up over the past three years, but the pace has been subdued to under a single digit since July when the production growth fell to 0.2 percent from the previous month's 1.6 percent.

Output figures remain weak as demand for Korean products has been affected by the elongated global economic slowdown amid the heightened uncertainty surrounding the eurozone debt problems.

Last week, the central bank announced that the country's gross domestic product grew 0.2 percent during the third quarter from three months earlier, slowing from a 0.3 percent gain in the second quarter. This also marked the slowest growth pace in about three years.

Experts worry that things could further slow down in the months to come, given the ongoing uncertainty from the eurozone debt problems and slumping growth in major industrialized countries.

But the government hopes that the economy might have hit the bottom during the third quarter and will likely rebound starting in the fourth quarter.

Behind last month's still-sluggish-but-quickening growth in output is the manufacturing industry whose production expanded 0.7 percent from a year earlier, the report showed. More demand for semiconductors, parts and chemical products helped boost the output in the area.

The average facility utilization rate in the manufacturing industry also rebounded to 75.2 percent from 73.7 percent in August, the report showed. The August reading was the lowest since May 2009 when the rate fell to 73.6 percent.

by pna

South Korea appears to be on course to widen its trade surplus for the time being, which would help keep its currency appreciating, foreign financial institutions said Monday.

They expect Asia's fourth-largest economy to improve exports in the coming months, mainly boosted by an upturn in the global electronics market.

Still, the country's large family-controlled conglomerates, or chaebols, are cautious about imports of capital equipment and intermediate goods, as liberal presidential candidates are calling for a break-up of chaebols to create what they call a "fairer" playing field for smaller firms.

"This would widen the goods surplus in the fourth quarter," Barclays said in a report. "In view of this, we raise our full-year forecast to US$ 34.5 billion from US$ 24 billion."

South Korea chalked up an account surplus of $ 6.07 billion in September, much higher than the $ 3.7 billion that the London-based investor expected.

Barclays said South Korea's won is likely to continue to add to its value.

"We remain comfortable with our 12-month U.S. dollar/Korean worn forecasts of 1,050," it said.

The won has appreciated 5.6 percent this year to 1,091.50 per dollar as of Tuesday (Seoul time), becoming one of the best-performing Asian currencies.

The won's appreciation has been driven by South Korea's trade surplus, improvement in credit ratings, and easing of monetary policy in the United States.

Moody's Analytics, headquartered in New York, also expressed optimism for South Korea's trade amid a shift in global demand for technology gadgets.

"Asia's exports still feel the pinch from a synchronized slowdown in the U.S., Europe and China, but the pain appears to be near an end," said Matthew Circosta, an economist at the research division of Moody's Corp.

by pna

Superstorm Sandy would cause about 20 billion U.S. dollars in property damages and would trigger a slight reduction in U.S. economic growth in the fourth quarter, according to IHS Global Insight, a forecasting company.

In a preliminary evaluation, the firm said damages from storm Sandy could reach 20 billion dollars, with around 10 billion dollars insured, and that would put Sandy on par with last year's Hurricane Irene in terms of total infrastructure damage estimated around 15 billion dollars.

However, combining all of the disruptions, there would be additional 10 billion to 20 billion dollars in lost business activity, it added.

"The effect on growth for the fourth quarter will not be catastrophic but might still be noticeable, especially in an economy with little momentum anyway," the firm noted, saying the lost output in the affected regions would subtract as much as 0.6 percentage points from the economic growth in the fourth quarter.

Sandy, which made landfall in New Jersey Monday evening and combined with winter storms to become a hybrid storm, has impacted 15 states. Millions of homes suffered power outage and 70 percent of East Coast oil refineries were shut down, according to media reports.

by pna

The rise of China's middle class will change every aspect of the Australian economy, James Packer, billionaire businessman said Wednesday at the Leadership 2012 Tourism, Aviation and Transport Infrastructure Summit in Canberra.

According to his analysis, the Chinese middle classes want luxury travel, quality hotels, signature restaurants and high-end retail.

Packer said Australia must build relationships with Asia through languages, culture, education, sport and commerce and called for a new view of China.

"We need to stop viewing China like it's the Cold War and start viewing it as a modern member of the industrialised world," he said.

Packer said those who had not been to China did not appreciate how much it had changed and how much the country was doing to lift its people out of poverty.

"It should be almost compulsory for all senior executives and government officials to make the trip to China and gain appreciation of how the country has changed.

by pna

German Chancellor Angela Merkel and leaders of five global financial organizations on Tuesday called for fiscal consolidation and structural reforms to restore global economic growth.

"The recovery of the global economy is on a fragile track and prospects still remain uncertain," Merkel said along with heads of the OCED, WTO, ILO, IMF and World Bank in a joint statement after their meeting in Berlin.

According to IMF forecasts, world economy is now facing "considerable downside risks," with a growth rate of 3.3 percent in 2012 and 3.6 percent in 2013.

"Because of modest growth prospects and considerable uncertainty, financial markets, investor and household confidence has not yet returned to pre-crisis levels," the leaders said.

They expressed their concerns that "debt levels in most industrialized countries are still unsustainably high," while "unemployment has reached a new record high in many countries."

To restore confidence and to improve growth and employment prospects, decisive action has to be taken to ensure fiscal consolidation at an appropriate pace coupled with structural reforms, the statement said.

The leaders welcomed "the efforts several eurozone countries are undertaking to enhance their external competitiveness and to consolidate their budgets," but also called for "further efforts, especially with respect to youth employment generation, structural reform and effective social protection systems" in the region.

They urged the eurozone to work on the future of the European monetary union "by implementing comprehensive reforms designed to enhance growth and competitiveness," and called on the United States to embark on a credible fiscal consolidation path.

They also urged emerging economies to adjust their economic policies to "meet the challenges of pursuing a growth path that is both inclusive and sustainable."

Merkel and the visiting five leaders, including International Monetary Fund Managing Director Christine Lagarde, OECD Secretary General Angel Gurria, World Trade Organization Director General Pascal Lamy, International Labor Organization Director General Guy Ryder, and World Bank Group President Jim Yong Kim, also pledged to future cooperate in areas of innovation, education, labor market reforms, climate change, food security, as well as international trade.

by pna

South Korea's economy is still facing high uncertainty at home and abroad, as consumption and investment sentiment are showing few signs of immediate improvement, the top economic policymaker said Wednesday.

The remarks by Finance Minster Bahk Jae-wan come after the government announced that its industrial output in September grew 0.7 percent on-year, quickening from the previous month's 0.3 percent gain.

The output also grew 0.8 percent compared with a month earlier, turning around from three consecutive months of contraction.

"Industrial output turned around to register a growth, and the facility utilization ratio in the manufacturing industry also improved, with facility and construction investment rebounding from the precious month's sharp declines," Bahk told a crisis management meeting held in central Seoul.

by pna

The State Bank of Vietnam has no plan to import gold any time soon since the metal is neither an essential item nor beneficial to the economy, Deputy Governor Le Minh Hung said.

The Government had decided not to stabilise gold prices or spend foreign exchange to import the metal to discourage the practice of investing in gold and stop its use in commercial transactions.

The latter phenomenon is akin to dollarisation in an economy where people prefer to use dollars instead of the country's own currency.

The central bank issued a Circular ordering banks to stop accepting gold deposits and return all the gold to depositors by November 25. But it later deferred the date to June 30, 2013.

Hung said the SBV's ban on gold deposits was because it was a very high-risk business.

The high interest rates on gold deposits encourage to buy and use the metal, and the country has to spend large amounts of foreign exchange to import it.

Hung said the Government's new policy was to treat gold similar to foreign currency.

Gold will be bought and sold by enterprises and banks instead of being lent and borrowed as it is now, with the Decree stipulating that these transactions will be implemented through authorised enterprises and credit institutions.

The public is allowed to possess and trade the precious metal with the authorised firms.

Hung said they can go to banks for the safekeeping of their gold, leaving them in safety deposit boxes for a fee.

Banks would buy from and sell gold to individuals, and the central bank would buy from the banks.

Since the central bank no longer had the task of stabilizing gold prices, it would buy when they went down to improve its reserves, and sell when they rise.

It would also export the metal to increase its foreign currency reserves.

By pna

President of the European Council Herman Van Rompuy today starts his four-day working visit to Viet Nam aiming to bolster bilateral ties between the Southeast Asian country and the 27-nation bloc.

Rompuy's trip is being made at the invitation of State President Truong Tan Sang. This is the first time a President of the European Council has paid a visit to Viet Nam.

Bilateral ties between Viet Nam and the EU have developed remarkably since the establishment of diplomatic relations in 1990. One of the latest milestones is the signing of the Partnership and Co-operation Agreement (PCA) after nine rounds of negotiations.

The PCA will act as an important institutional framework to deepen co-operation between the two sides.

When it comes to the EU-Viet Nam partnership, trade is among the most important pillars, with two-way trade increasing by 15-20 percent on average each year, from US $ 4.1 billion in 2000 to $ 24.29 billion in 2011. The EU is one of Viet Nam's largest trade partners and its second biggest export market.

A new level of trade partnership between Viet Nam and the EU has been marked by the commitment to start negotiations for a Free Trade Agreement. The first round of negotiations was conducted in Ha Noi earlier this month, and more are expected to continue over the next two years.

Rompuy's visit is an opportunity for Viet Nam to affirm its wish to develop a comprehensive and long-lasting relationship with the EU, and to ask the block to recognise the country's market economy status and maintain its Official Development Assistance.

By pna

Cambodia attracted some 2.57 million international visitors in the first nine months of this year, a 24 percent rise compared with the same period last year, a report of the Ministry of Tourism showed Wednesday.

The report said that during the January-September period this year, about 1.48 million foreign visitors had visited the world heritage Angkor Wat Temple in Siem Reap province, up 27 percent compared with the same period last year, whilst the world heritage Preah Vihear temple attracted 13,140 foreigners, up 77 percent.

Vietnam still topped the chart among the top 10 arrivals to Cambodia with 579,890 tourists, up 25 percent, followed by South Korea with 306,550, up 24 percent, and Chinese visitors at third with 234,440, up 32 percent.

Laos and Thai visitors to the country stood at No. 4 and 5, respectively. During the period, some 177,140 Laotians and 137,430 Thais had visited Cambodia, up 90 percent and 70 percent, respectively.

It said that roughly 47 percent of the visitors arrived in the country by air, 50 percent by land and the rest by water ways.

The report also predicted that the country could receive 3.3 million foreign tourists in the whole year of 2012.

By pna

China and Belarus pledged Tuesday to strengthen communication and expand cooperation in bilateral trade and economy.

The two sides reached several common understandings to deepen communication in trade and economy at the 13th session of the China-Belarus Trade and Economic Cooperation committee here, co-chaired by China's Deputy Commerce Minister Jiang Yaoping and Belarusian Deputy Prime Minister Anatoly Tozik.

Both sides acknowledged that Chinese and Belarusian economies are mutually complementary and enjoy a broad prospect for development, vowing to bring bilateral trade and economic cooperation to a new height.

Jiang said cooperation in trade and economy between China and Belarus has developed rapidly in recent years, noting that despite global economic woes, bilateral trade volume grew 28 percent year-on-year from January to August in 2012.

Jiang said China and Belarus have achieved positive results on the construction of cooperative infrastructure projects such as cement plants and fire power stations, adding other cooperative projects are also underway.

Furthermore, entrepreneurs of China and Belarus have begun to invest in each other's country, Jiang said, noting Belarusian businessmen own factories in China's northeastern Harbin city, while a China-Belarus industrial park in the suburb of Belarusian capital Minsk is under construction.

For his part, Tozik said cooperation in investment between his country and China has been developing fast, which would bring greater benefit to both sides, noting the China-Belarus industrial park would play an important role in the modernization of Belarusian economy.

By pna

Wal-Mart Stores Inc., the world's largest retailer, has moved to increase its market share in China as the rapidly growing economy has boosted consumer buying power.

The company plans to open more than 100 new outlets in China over the next three years, which will help create around 18,000 jobs, the U.S.-based retail giant said in a press release Tuesday.

It also plans to set up more logistics distribution centers and restructure its procurement system in an effort to build a more efficient supply chain, the retailer said.

Chinese consumers are more capable of buying and they have increasingly higher demands for quality, prices and services, said Greg Foran, president and chief executive officer of Walmart China.

Foran said Walmart is excited to take part in the change, adding that he hopes the strategy will help the company step into a new development stage.

New procurement offices will be located in eight cities, including Beijing, Shanghai and Dalian, according to Foran.

By pna

The sales growth of semi-durable goods in South Korea hit the lowest level in nearly four years as consumers tighten their belts amid an economic slowdown, data showed Wednesday.

Sales of semi-durable goods shrank 4.2 percent in August from a year earlier, marking the lowest level since December 2008, according to the data by Statistics Korea. Shipments of such products have been contracting throughout this year.

Semi-durable goods refers to a product that can be used repeatedly by a consumer over a period of time, such as clothing or shoes, but has a shorter expected time of use than durable goods like furniture or automobiles.

Analysts said the dismal data came as consumers have opted to stay thrifty on goods that are not daily necessities like food, so they can shop big on more durable products like home appliances.

"Apparel sales fell 3.7 percent on-year in August for the first time since December 2008. There's a big inventory burden for the whole industry," said Park Jong-dae, an analyst at Hana Daetoo Securities Co.

With the economy losing steam, sluggish retail sales have hit companies hard. According to local corporate data tracker FnGuide, major retailer LG Fashion Corp. is expected to see its third-quarter operating profit drop 2.4 percent, following the profit falls for the previous two quarters.

by pna

SM Prime Holdings, Inc. (SM Prime), the Philippines’ leading shopping mall developer and operator, posted a 15 percent increase in consolidated net income for the first nine months of 2012, amounting to P7.40 billion from P6.41 billion during the same period in 2011.

Revenues, on the other hand, reached P22.10 billion from P19.27 billion, for a 15 percent increase, year-on-year.

EBITDA for the period rose 12 percent to P14.60 billion, for an EBITDA margin of 66 percent.

The growth was largely due to rentals from new Philippine malls opened in 2010 and 2011, same store sales of 8 percent, and the improved performance of SM’s China malls.

SM Prime also posted a 16 percent increase in net income to P2.48 billion for the third quarter of 2011, from P2.14 billion during the same period last year. Revenues from July to September this year reached P7.52 billion, for a 15 percent increase, year-on-year. EBITDA for the three months stood at P4.89 billion, for an increase of 13 percent and an EBITDA margin of 65 percent.

SM Prime president Hans T. Sy said: “Our performance for the first nine months of 2012 gives us confidence in reaching our full-year target.

We think that consumer sentiment will remain positive on the back of a strong domestic economy. Moreover, we anticipate this trend to continue as we approach the holiday season, when consumer spending is particularly strong.”

Operating expenses during the first nine months of 2012 rose by 14 percent to P10.45 billion from P9.12 billion in 2011 due to increase in administrative expenses, particularly, utilities and manpower expenses, business taxes, and film rentals. Income from operations jumped to P11.65 billion, up 15 percent from P10.14 billion.

In terms of gross revenues, the four malls in China contributed P1.90 billion in 2012 and P1.49 billion in 2011, or 9 percent and 8 percent of total consolidated revenues, respectively.

Gross revenues of the four malls in China increased by 27 percent in 2012 compared to the same period in 2011 due to improvements in the average occupancy level, lease renewals, and the opening of SM Xiamen Lifestyle and SM Suzhou which added 182,000 square meters of gross floor area. The average occupancy rate for the four malls in China is now at 96 percent.

SM Prime has 46 Supermalls strategically located in the Philippines with a total gross floor area of 5.5 million square meters.

The company also has four Supermalls located in the cities of Xiamen, Jinjiang, Chengdu and Suzhou in China with a total gross floor area of 0.6 million square meters.

by pna

The Chinese economy is more likely to rebound in the October-December period from the slowest quarterly expansion in 14 quarters "with positive signs," the China Iron & Steel Association (CISA) said in a report released Monday.

Fixed-asset investment, particularly the construction of infrastructure projects, will continue to be the major driving force of the economy in the months to come, according to the CISA report.

As the country posted better readings on investment, consumption and export in September, the CISA said, economic growth has stabilized in the third quarter and there is greater likelihood for a rebound in the coming months.

China's economy expanded only 7.4 percent year on year in the July-September period, marking the slowest quarterly growth in 14 quarters.

The report quoted Yi Gang, vice governor of the People's Bank of China, the country's central bank, as saying that the Chinese economy is expected to expand 7.8 percent in 2012, higher than the 7.5-percent annual growth targeted by the government.

The CISA indicated that the government might introduce more measures to stabilize the economy in the wake of the 18th National Congress of the Communist Party of China, which is slated to open on Nov. 8.

"We can't rule out such a possibility," the CISA said, adding that an improving economy and higher prices will boost crude steel output in coming months, but weak demand from the property and manufacturing sectors will make a rapid recovery very difficult.

by pna

The central bank vowed to continue reforms in the financial system to achieve an investment grade rating for the Philippines after Moody’s upgraded the country’s credit rating to a notch below investment grade Monday.

“In our case we will basically just continue to maintain macro stability and continue our reforms in the financial system to make sure it remains sound and stable. And hopefully at some point, with the concerted efforts of all government agencies concerned, as well as the private sector we would achieve investment grade rating at some point,” BSP Governor Amando Tetangco Jr. told reporters.

The central bank chief said an investment grade rating for the country is “possible” in the short term.

Moody’s Investor’s Service revised upwards to “Ba1” from “Ba2” with ‘stable’ outlook the country’s credit rating on account of continued improvement in economic and fiscal performance amid negative global economic developments, better medium term economic prospects, and stable financial system.

The upgrade brought the country’s credit grade level among the three major debt watchers, including Fitch Ratings and Standard & Poor’s (S&P), at the same level.

Tetangco said the structural reforms undertaken with the private sector enabled the country to have a strong banking system “and have transformed our banks into effective financial intermediaries.”

He said the total of 100 basis points in the central bank’s policy rates this year will “help the economy withstand ongoing global economic strains and to support economic growth.”

To date, the BSP’s overnight borrowing or reverse repurchase (RRP) rate is at record-low of 3.5 percent and the overnight lending or repurchase (RP) rate is at 5.5 percent.

These were slashed with 25 basis points each in January, March, July and October.

Tetangco said monetary official’s “prudent approach to external financial management has yielded a more manageable and sustainable external debt position.”

“In fact, the Philippines is one of the few sovereigns among its rating peers to be a net external creditor, with official FX reserves exceeding the country’s gross external debt,” he said.

“The BSP will continue to craft monetary, external and banking policies with the view to ensuring that the gains reaped thus far will lead to the sustained improvement in the country’s real GDP growth, financial sector responsiveness and external debt manageability in a non-inflationary environment,” he added.

Relatively, Finance Secretary Cesar Purisima said the upgrade in the country’s credit rating is a recognition of the “significant progress that the Aquino administration has undertaken to improve the country's economic fundamentals.”

“This 9th positive ratings action is another affirmation of the President's agenda and our underlying belief that good governance is good economics,” he said, noting that “it has been a decade since all three major ratings agencies rated us a notch below investment grade.”

”As the President said over the weekend, this is indeed a great time to be a Filipino. With the President's commitment to maintain macroeconomic stability, enhance fiscal sustainability, and accelerate investment growth, investment grade will definitely come sooner rather than later,” he added.

Moody’s, in a statement, said that the Philippines has demonstrated considerable economic strength and fiscal resilience despite the headwinds from softening external demand.

The country, in contrast to similarly rated countries, is poised to record a combination of faster growth, lower inflation, exchange rate appreciation and an increase in foreign exchange reserves, while maintaining trend debt consolidation, it said.

by pna

The Philippines ranked second in a Global Consumer Confidence Survey conducted by the Nielsen Company, a Palace official said.

In a statement issued Tuesday, Deputy Spokesperson Abigail Valte said the latest survey represents a two-point increase in the third quarter of 2012 compared to the second quarter this year.

With a score of 118, the Philippines comes second only to India and Indonesia which both share the top spot with 119 among 58 countries surveyed.

"The bullish consumer sentiment shows a positive attitude towards the Philippine economy, one bright spot in only 12 countries that registered “more optimism” out of the 58 surveyed," Valte said.

Valte pointed out that the survey’s index notes that a score of 101 and higher indicates more optimism while a score of 100 and lower means more pessimism.

She said the Philippines bested Thailand by 6 points and Malaysia by 13 points. Singapore with a score of 98 and Vietnam with 87 both measured below the index of 100.