Rise In Employment Rate Reported

A survey reported by the National Statistics Office showed that the country's employment rate improved in April this year compared the same period in 2011.

The NSO said the April 2012 Labor Force Survey (LFS) reported a 93.1 percent employment rate compared to 92.8 percent recorded in the same period last year.

The 2012 LFS also showed that, except for the National Capital Region, all regions in the country recorded employment rates of over 90 percent.

The NSO said that out of an estimated 62.8 million people 15 years and older, 40.6 million belong to the labor force as of April 2012, compared to 39.7 million recorded last year.

It added that the labor force participation rate (LFPR) in April 2012 was 64.7 percent, compared to 64.2 percent in April 2011.

Among the regions, only the Autonomous Region in Muslim Mindanao (ARMM) recorded an LFPR lower than 60 percent.

Those employed in the services sector comprised the largest group of the labor force, making up more than half (51.4 percent) of the total employed.

Workers in the agriculture sector comprised the second largest group, consisting of one-third (33 percent) of the total employed.

Only 15.6 percent of the total employed were in the industry sector, with the manufacturing sub-sector contributing the largest share (8.4 percent of the total employed).

Among the various occupation groups, the laborers and unskilled workers comprised the largest group making up 33.2 percent of the total employed persons in April 2012. Farmers, forestry workers and fishermen were the second largest group with 14.7 percent share.

According to the NSO, employed persons fall into any of these categories: wage and salary workers, self-employed workers without any paid employee, employers in own family-operated farm or business, and unpaid family workers.

Wage and salary workers are those who work for private households, private establishments, government or government-controlled corporations, and those who work with pay in own family-operated farm or business.

"The majority (55.5 percent) of the total employed population in April 2012 were wage and salary workers, with the largest percentage (42.9 percent of total employed) working for private establishments. Those working for the government or government-controlled corporations accounted for only 8 percent and those working for private households, 4.3 percent. In April 2011, wage and salary workers accounted for 55.0 percent of the total employed," the NSO said.

"Self-employed workers without paid employees comprised 29.3 percent of the total employed in April 2012. The unpaid family workers accounted for 11.9 percent of the total employed. Employers in own family-operated farm or business made up 3.3 percent," it said.

Source: Manila Bulletin – Thu, Jun 21, 2012

Philippines 'avoids money-laundering blacklist'

The Philippines said Saturday it had avoided an international blacklist on money laundering and terrorist financing after passing two new laws this month.

The Financial Action Task Force, an inter-governmental body, has upgraded the Philippines to its "grey list" of countries making sufficient progress in their action plans, President Benigno Aquino's spokeswoman Abigail Valte said.

"These reforms (prevented) the Philippines from being classified and downgraded to the 'black list', which would have resulted in stricter inspections of financial transactions in the country," she said in a statement.

The Philippines was previously in the FATF's "dark grey list" of jurisdictions deemed not to be making sufficient progress.

The FATF levied a blacklist threat earlier this year, calling for greater state powers to make it easier to scrutinise bank accounts, as well as casinos, foreign exchange traders and other non-bank entities.

Two bills were passed on June 6 expanding powers to investigate bank accounts, but parliament failed to agree on a third bill to allow greater inspection of non-bank entities.

The FATF was not immediately reachable for verification Saturday and its website still listed the Philippines as among the countries not making sufficient progress.

The Philippines' Anti-Money Laundering Council said the FATF had urged Manila to include bribery, public funds misuse, human trafficking, tax evasion and environmental crimes as grounds for a financial investigation.

The FATF is made up of 187 member countries with the aim of making the international financial system off-limits to criminals.

For more details about Philippine Properties with Perfect Location visit our website at http://www.yourwiseinvestment.com

Source: AFP News – Sun, Jun 24, 2012

PH property market is best in 20 years: CBRE

MANILA, Philippines - The Philippine real estate market is now the best it has been in 20 years, according to property consultant CBRE Philippines.

CBRE Philippines chief executive and chairman Rick Santos said the Philippines is "no longer the sick man of Asia but now the sweet spot for investors."

"I've been back in the Philippines for 20 years now and this is the best real estate market we've seen. We think this market has legs and we're confident in the next 5 years. All eyes are now moving from BRIC (Brazil, Russia, India, China) economies into TIP (Turkey, Indonesia, Philippines) markets," he said, in a press briefing on Wednesday.

The housing sector continues to benefit from strong demand, as more Filipinos are able to buy houses due to low interest rates and affordable financing schemes.

"The Philippines is going through a democratization of the housing industry - from a nation of renters, we're going to a nation of owners," Santos said. 

Pre-leasing is back

A bright spot for the Philippine property market is the office sector. For the first time in years, companies are pre-leasing office space in buildings that have yet to be completed. This is attributed to the continued expansion of the business process outsourcing (BPO) industry in the country.

"There's so much demand in the office sector, buildings are 100% leased, not just small buildings but large buildings are 45% to 50% leased, which is incredible. Most buildings don't even lease up until 1 or 2 years after completion," Santos said.

CBRE has seen a surge in pre-leasing commitments in the central business districts, not just in Makati, Bonifacio Global City and Quezon City, but also in Cebu, Davao and Clark. Pre-leasing activity usually happens within 6 months before a building is completed.

John Corpus, CBRE director for global corporate services, said there is tight supply of office space in the business district with an average 96% occupancy rate, and there's no sign of a slowdown.

Companies, particularly those in the BPO industry, are scrambling to secure much-needed office space. Of the 293,000 square meters of anticipated office supply to be available this year, around 232,000 square meters have already been pre-committed.

For instance, in Makati, Glorietta 2, which is set to open in the fourth quarter of this year, and Glorietta 1, which will open in the first quarter of 2013, are both already 100% pre-leased.

In Bonifacio Global City, Megaworld's Science Hub 1 and 2 are already 100% pre-leased, while Eight Campus A and B, which will open in the 4th quarter of 2012 and 2nd quarter of 2013, are also 100% pre-leased.

Other buildings such as SM Megamall BPO and Filinvest EDSA in Ortigas; UP Ayala Technohub K in Quezon City and Two Ecom in Bay Area, Pasay, are likewise leased out.

"We urge developers to push through with their planned projects and to avoid any delays and to capture all potential investments in the country... Office market will continue to be active and the next 2 years is guaranteed to be at its peak," Corpus said.

Potential in 'green' buildings

As more multinational companies open BPO offices in the Philippines, CBRE anticipates a growing demand for "green" buildings in the Philippines.

Santos said a large portion of the take-up of new office space is from BPOs, and 75% of that would be from multinational companies. "The multinational companies, like Bank of America, HSBC, WellsFargo and JPMorgan, a lot of them would want LEED buildings. 

This will create a large market for LEED buildings," he said.

LEED refers to Leadership in Energy and Envrionment Design, the mostly widely used green rating system in the world.

Joanie Mitchell, director for global corporate services, said there is a misconception that going green would entail more costs. "Cost is perceived to be the biggest barrier to building green (buildings) but sustainable construction is now near cost-neutral," she said.

There are only 5 LEED certified buildings in the country, including the Asian Development Bank, Nuvali One Evotech, Shell Shared Services Office and Texas Instruments in Baguio and Clark.  Zuellig Building in Makati, which will open in October, and BTTC Centre in Greenhills are both pre-certified LEED Gold.

For more details about Residential Condominium projects with strong leasing potential you may visit this website at http://www.yourwiseinvestment.com

Source: By Cathy Rose A. Garcia, ABS-CBNnews.com

Posted at 06/20/2012 7:15 PM | Updated as of 06/21/2012 7:44 AM

http://www.abs-cbnnews.com/business/06/20/12/ph-property-market-best-20-years-cbre

W.B.O Welterweight Title Fight

Pacquiao Loses to Bradley in Stunning Split Decision

Kevork Djansezian/Getty Images

In the seventh round, the well-conditioned and heavily muscled Timothy Bradley took on the rugged style for which he is known.

By NORM FRAUENHEIM

Published: June 10, 2012

LAS VEGAS — Timothy Bradley talked about timing. It was his time. It was his fight, too.

Bradley (29-0) scored a stunning upset Saturday night over Manny Pacquiao (54-4-2), winning a split decision in the welterweight bout at the MGM Grand.

Bradley overcame Pacquiao’s advantage in speed over the first six rounds with head-rocking power that eventually left Pacquiao, a Filipino congressman, looking tired and slow.

Pacquiao moved side-to-side in an almost tireless dance for the first six rounds. But it wasn’t enough in a close fight. The judges Duane Ford and C .J. Ross scored it for Bradley, 115-113. On Duane Ford’s scorecard, it was 115-113 for Pacquiao, who lost the World Boxing Organization’s version of the 147-pound title.

Pacquiao told the crowd that he thought he had done enough to win. But he couldn’t knock out Bradley in the early rounds when he appeared to be dominating the bout.

In the opening round, Bradley threw a mild surprise — a jab he wasn't supposed to have. He fired it repeatedly, head-to-body and body-to-head. But it was Pacquiao who seemed to gain an edge, if not win the round, with a couple of solid lefts, his most feared punch.

Pacquiao’s left would continue to land in the second, especially when Bradley would duck to his right and drop his right hand. In the third, Bradley, increasingly wary of the left, would either back away or resort to roughhouse tactics in tying up Pacquiao.

Late in the third, Bradley appeared to stumble, almost as if he had been dazed by a quick succession of punches from Pacquiao, whose lateral movement created punches from countless angles. In the fourth, Bradley stumbled again, all in an awkward attempt to duck the lethal accuracy that Pacquiao possesses in his left hand. Bradley promised to counter with combinations. Through the first six rounds, however, he only managed to land an occasional right hand.

Julie Jacobson/Associated Press

Manny Pacquiao told the crowd after the fight that he thought he had done enough to win, but he couldn't knock out Bradley in the early rounds when he appeared to be dominating the bout.

In the seventh, the well-conditioned and heavily muscled Bradley took on the rugged style for which he is known. He ducked down and almost went into a crablike squat. Bradley’s shaved head, which glistened under the ring’s bright lights, moved menacingly at Pacquiao, almost as if it were a weapon, which is what has often been in his career.

But a head butt from Bradley was never a factor. Bradley promised it wouldn’t be. But his conditioning and powerful right hand were there — repeatedly throughout the last six rounds.

The fight was expected to start immediately after the Miami Heat’s victory over the Boston Celtics. But Pacquiao could not be found. The ring announcer Michael Buffer introduced celebrities, current champions, former champions and the U.S. Olympic boxing team. Still, no Pacquiao. Finally, there he was, in a room other than his dressing room, on a treadmill stretching his calves in an attempt to avoid the cramping that has troubled him in his past two fights.

Throughout the week and before the opening bell Saturday night, there were questions about whether the old Pacquiao would show up. There were more questions about whether he was a fading star than there were about whether Bradley was an emerging one.

Pacquiao has always embraced distractions, which seemed to multiply around him as fast as victories, celebrity and money. He earned a reported $32 million for just two fights in 2010 alone. He played basketball, gambled, sang, starred as an action hero in Filipino films, ran for political office, won a seat in the 15th Congress of the Philippines and even interrupted training for Antonio Margarito in November 2010 to campaign for Nevada Senator Harry Reid. No matter what he did, he won. Since a loss to Erik Morales in March 2005, he went on a remarkable run of 15 successive victories.

But a sign that distractions might finally be taking a toll were suddenly evident last November in a majority decision over Juan Manuel Marquez. Pacquiao won on two of the three scorecards, but lost points in the court of public opinion. The dominance he had displayed against Oscar De La Hoya, Ricky Hatton and Cotto was not there. He appeared vulnerable. He looked distracted. He was.

His trainer, Freddie Roach, said there were marital problems. He and his wife, Jinkee, nearly split before the Marquez bout on Nov. 12, also at the MGM Grand, according to Roach, who will be inducted to the International Boxing Hall of Fame on Sunday in Canastota, N.Y. Pacquiao arrived late after Jinkee refused to accompany him, according to Roach, who said he had only 10 minutes to warm up for a bout during which he fought leg cramps for a second straight bout.

“Manny’s life was going off the rails,” said his promoter, Bob Arum, who also promotes Bradley. “It isn’t now.”

Pacquiao, who admitted he had been unfaithful to Jinkee, said he has recommitted himself to his Catholic faith and his marriage. Jinkee was at his side throughout public appearances after arriving in Las Vegas from a training camp at Roach’s Wild Card Gym in Hollywood. They arrived, hand-in-hand, at the Grand Garden Arena on Saturday a couple of hours before he would step into the ring against Bradley. He also said he stopped gambling, including wagering on cockfighting, which is legal in the Philippines. He said he no longer owns the more than 1,000 roosters he raised, fought and bet on. He said he sold his interest in a Filipino casino. Pacquiao, a Celtics fan, even gave up basketball.

On this trip to Las Vegas, there were bible studies instead of late nights at the tables. Pacquiao went to mass with Jinkee and much of his entourage Saturday morning. On Friday, he knelt, put his hands together, looked up and uttered a prayer after weighing in at 147 pounds, the welterweight limit.

“There are no more distractions,” Pacquiao said. “For me, this lifestyle is better for my personality.”

But not everybody was a believer. At the weigh-in, there were questions about Pacquiao’s weight, his heaviest ever. He was at 145 pounds twice, first for Joshua Clottey in 2010 and again for Shane Mosley last May. The two-pound increase generated speculation about his readiness for the tough and chiseled Bradley. The weight was just another sign of possible slippage. In his two fights before Bradley, he averaged only 26 power punches a round, according to a CompuBox count. That’s half of the power punches, 52 a round, that he threw in five fights before beating Marquez and Mosley.

Then, there was controversy in his corner. Roach said a week ago on HBO’s 24/7 series that strength and conditioning coach Alex Ariza would not be at the fight. Roach was unhappy that Ariza left camp to work with Mexican middleweight champion Julio Cesar Chavez Jr. By last Tuesday, however, Pacquiao decided that Ariza would work the corner.

“Manny’s call,” Roach said.

Source: The New York Times / Sports / http://www.nytimes.com/?emc=na