Good News....

[grabehbebe]

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Govt sees 2006 foreign reserves exceeding target

The Bangko Sentral ng Pilipinas said on Tuesday its 2006 gross international reserves (GIR) could reach $22 billion this year, exceeding an earlier projection of $21 billion due to strong exports and remittances.

BSP Governor Amando Tetangco told an investors' briefing the likely increase tracked an earlier upward revision in the forecast for the end-2006 balance of payments (BOP) surplus to around $2 billion from $1.6 billion.

"We will be able to build up the GIR most likely beyond what we have projected at $21 billion," Tetangco told an investors' briefing. "It can be between $21 to $22 billion at the end of 2006."

The country recorded a BOP surplus of $2.169 billion for the first six months of the year, 8.7 percent higher than a year earlier due to double-digit growth in remittances from overseas workers, a narrowing trade deficit following strong exports and higher foreign direct investment.

Pushed abroad by a lack of opportunities, roughly a tenth of the Philippines' population of 85 million works abroad. During the first half of 2006 these people sent home $6 billion through official channels, 15 percent higher than a year earlier.

The country's foreign exchange reserves rose to a record high of $21.164 billion at the end of July, up from $21.123 billion in June.

Reserves have risen 14.4 percent from their end-2005 level of $18.495 billion, partly due to the BSP's foreign exchange operations and income from investments abroad. Reuters


---http://www.abs-cbnnews.com/storypage.aspx?StoryId=49508

[baron]

^ Added to this, the Asian Development Bank raises its growth forecast for the Philippines this year from an earlier 5 percent to 5.4 percent. Said raise is due to the robust export earnings and increase farm production that we are currently experiencing.

This will be another positive indication for our economy. Expect more investments to come in.

[clarkhkent]

Turning vodka into ‘water purifier’
By Helen Flores
The Philippine Star 09/07/2006

The same technology used in producing world-class vodka can be used to bring dead rivers back to life.

British technology used by premium beverage company Diageo to make Smirnoff vodka was introduced in the country yesterday for use in purifying water and cleaning up polluted rivers.

Diageo displayed a sample of the Smirnoff Purification Installation at the Center Plaza in Eastwood City in Libis, Quezon City and demonstrated how polluted water taken from the Marikina River could be turned into pure and safe drinking water using technology inspired by the Smirnoff vodka purification process.


http://www.philstar.com/philstar/NEWS200609070408.htm

....murag dis advantage ni sa mga manginom ug vodka....

[stevieboy]

wow....more good news please!

[wanderlust]

The peso continues on its upwards trend, gaining 12 centavos yesterday with the highest level at 50.25. to a dollar.

Despite this, electronics exports have increased, as well as growth in the agriculture sector. This has prompted the Asian Development Bank (ADB) to raise our growth forecast to 5.4 %.

[baron]

Gross international reserves hits its all-time high when it reaches at $21.4 billion by the end of August. With all the other positive economic indicators making history in the past few days, the resiliency of the economy we are experiencing will bring us more investments as confidence before the international arena builds up in our favor.

[omad]

Saturday, September 09, 2006
Foreign funds in stocks, bonds up 12.3% in August

MANILA - Foreign investment in Philippine stocks, bonds and other financial instruments stood at $131.5 million in August, up 12.3 percent from July, the Bangko Sentral ng Pilipinas (BSP) said yesterday.

The BSP said total net portfolio inflows for the first eight months of the year totaled $1.02 billion.

In a statement posted on its website, the BSP said the figures reflect growing confidence among foreign investors in the economy, bolstered by easing inflation, double-digit growth in exports and healthy corporate earnings.

full story

[grabehbebe]

P100-million ecological park soon to rise in Guimaras

Where disaster has struck, new life and livelihood will rise.

A P100-million ecological park will soon open in Guimaras to bring more tourists and jobs to the people of the oil spill-affected island.

Engineer Ruben Corpuz, provincial economic development officer, said the Lombija Wildlife and Research Foundation located in Napandong in the hard-hit town of Nueva Valencia, will become a major attraction to both local and foreign tourists.

The 36-hectare park is a private investment which is expected to operate this year or early 2007, Corpuz said.

"The park will give opportunities to the people of Guimaras especially those who were affected by the massive oil spill," Corpuz said. He said the park has a bird sanctuary and will feature the different feline families. He also said the park will serve as a research hub for students and professionals.

Corpuz said the park was constructed years ago by a private developer, Henry Babiera, in Napondong, an inland barangay which is far from the oil spill-affected areas of Nueva Valencia.

Meanwhile, Corpuz said the local government of Guimaras is beginning to assess what resources are available for the fisherfolk to provide them alternative livelihoods.

"We are focusing in agri-based livelihood, like vegetable farming and livestock," he said. "We are also considering skills enhancement for affected citizens."

Corpuz said the people of Guimaras remain optimistic that the province’s economy will soon recover from the disaster.

"We are looking at the calamity as an opportunity, not a threat," he said. "We’re taking it positively and we hope we will recover sooner."


This is a good start for those has lost their jobs and almost their way of living because of the untoward incidents. I salute the people in the town of Guimaras because inspite of all the bad sights/things happend to them they were never stock on who to blame but instead they are keep focused on the solution and they never let problems like that Oil slick, gets in their way to survive, to move on and most of all to progress once again.

Its just an advantage having a "madiskarteng" leaders out there... :mrgreen:

[baron]

^ Now that's nice. We're opening new opportunities for Guimaras.

Recently, Japan and the Philippines signed the RP-Japan trade pact which will gives us P300B of revenues in the next two to three years which will represent 2.5% increase in GDP. More so, the entry of 1,000 nurses and caregivers for the first two years in Japan would resolve the growing concern on the plight of our new nurses.

[grabehbebe]

The AIPO delegates has just signed the Anti-terrror and bio-fuels agreement.

Another pact that will help us grow and resolve our common problems here. They said that among the resolutions approved were to build an energy security, cooperate in fighting cyber-terrorism and transform itself into an organization closely integrated with the ASEAN by changing its name to the ASEAN Inter-Parliamentary Assembly (AIPA).