PH Football Azkals Sorry Ramos for Sexual Harassment Scandal

By Olmin Leyba (The Philippine Star)

MANILA, Philippines - Azkals team manager Dan Palami has apologized to Cristy Ramos, the match commissioner of the recent Phl XI-Malaysia showdown at Rizal Memorial who was offended by some of the Azkals' behavior during her pre-game inspection at the team's dugout.

"On behalf of the team, I sincerely apologize to Commissioner Ramos for the distress this situation has caused her," Palami said in his official statement, assuring Ramos of prompt action on the matter.

Two Azkals, Angel Guirado and Lexton Moy, are under fire for their banter before the Malaysia gig that Ramos perceived as "sexual harassment and disrespect." She filed a complaint with the Asian Football Confederation (AFC) and met with Palami and officials of the Philippine Football Federation (PFF) last Friday, the same day the Azkals left for Nepal for the final stretch of preparations for the AFC Challenge Cup.

"Since the players have already left the country for the AFC tournament, a dialogue between them and commissioner Ramos is not possible at the moment. Nonetheless, we will not put off the investigation even as we prepare for a major tournament," said Palami, who postponed his flight to Nepal to discuss the incident report with Ramos right away.

"I will sit down with my players and staff and get to the bottom of this," he added.

 Ramos took offense with Guirado being in his undies during the inspection, which is supposedly not an unfamiliar sight at dugouts during pre-games, and Moy's alleged statement on bra size that the Azkals claimed were not directed at Ramos at all. Palami expressed belief there was "no intention to disrespect" Ramos or any official.

"In my personal experience of the usual goings-on in the men's locker room, the tension, excitement and nervous energy before a match often result in a lot of boisterous bantering. For someone who walks into this situation, this might appear as bordering on disrespect.

"But again, I am speaking only from my personal experience. I was not witness to the particular incident which was the subject of the incident report. Until I hear from all sides, I cannot comment substantially on the matter," Palami said.

He stressed that management and the PFF is taking the alleged incident seriously. The PFF is conducting a parallel investigation while awaiting further instructions from the AFC.

"Like commissioner Ramos, I also believe that sexual harassment should not be tolerated in any situation. I will look into the circumstances of this alleged incident and cooperate with any investigation. If it is proven that there was in fact malicious intent, I will make sure that proper sanctions are meted out," Palami said.

The Azkals arrived in Kathmandu, Nepal last Friday, and hope to stay focused despite the controversy to prepare for their AFC Challenge Cup bid beginning March 9 against defending champion North Korea.

"I still wish all the best for the Philippines," Ramos said in a radio interview.

"Gusto kong manalo ang Pilipinas, why not, di ba eh Filipino rin naman tayo, taga-Pilipinas. Ngunit ang sinasabi ko lang din mag-ingat din sila. Isa-puso nila, isa-diwa, isaisip nila na Filipino sila at sila ay dapat magpakita ng katanggap-tanggap at kung ano ang pinakamaganda sa lahi natin (I want the Phl Azkals to win since I'm a Filipino too. But what I'm just trying to say is they should be conscious and careful of their actions. They should put into heart that they're Filipinos and they should display all the good things about our race)," she added.

Continue reading

PSEi Philippines March 2012 0 Stocks hit 77.7 points record high, heralding economic rebound

ADB recently reported 5% predicated gworht for Philippines economy 2012. With the bullish performance of the Philippine stock market during the last two days that culminated in a new record high of 5,016.30 in Friday's trading, the economy is now poised for a rebound.

This was what an elated President Benigno Aquino III told reporters over the weekend in Calapan City in Oriental Mindoro, south of Manila, where he inaugurated a mini-hydroelectric plant that would provide electricity for some 45 villages in the area.

According to Aquino, the stock market is "the clearest and fastest" indicator of renewed business confidence in the country.

The main Philippine Stock Exchange index (PSEi) surged 1.57 percent, or 77.69 points, to close at an all-time high of 5,016.30 Friday. On Thursday morning, the PSEi rose more than 2 percent to an intraday high of 5,011.09 before paring down gains and closing at 4,938.61.

Aquino said that the PSEi could have breached the 5,000 level much earlier had it not been for the political tension in the Middle East and the financial crisis in Europe.

Local stocks hit an all-time high first on Thursday on expectations that the Bangko Sentral ng Pilipinas, the country's central bank, would cut interest rates to boost the economy.

The BSP indeed cut its main policy rate by 25 basis points after the market closed to a record low of 4 percent to help cushion the domestic economy from the global slowdown.

The bullish local stock market performance could be attributed to the continued strong inflow of portfolio investment or hot money into the country.

According to the BSP, the net inflow of foreign portfolio investments into the country hit $586 million in January, a sharp 250.3 percent increase from the $167 million net inflow a year ago.

The BSP said the figure was four times the $140 million recorded in December 2011.

A report by the PSE said that the local stock market attracted droves of foreign investors in the first two months of the year, driving valuations higher and lifting the main index to unprecedented heights.

Net foreign buying at the local stock market amounted to ₱22.72 billion ($532 million) during the January to February period, a dramatic turnaround from the $7.65 billion ($179 million) in net selling recorded in the same period last year, the PSE reported.

In the early part of 2011, investors were dumping emerging- market equities due to concerns over rising inflation.? This time around, however, sound macroeconomic fundamentals are luring more funds into the region, benefiting the Philippines whose stock market was the region's best performer in 2011.

The main-share PSE index pierced through the 5,000 or the first time in history in Thursday's trade.? Since the start of the year, the index has gained by 13 percent.

"The trek past the 5,000 index marks a very significant milestone in PSE history.? Central banks, especially in the larger, developed economies, have put in place various measures to make sure that we avoid a widespread collapse, and this has provided a rallying point among global markets. Coupled with the country's own growth story, we are hopeful that this rally will continue," PSE president and chief executive officer Hans Sicat said in a press statement.

Total market capitalization at the PSE as of Feb. 29 stood at $9.31 trillion ($218 billion), up 5.91 percent from the level in the same period last year.

Turnover for the first two months reached P331.87 billion ($7.77 billion), 69.47 percent higher than the level a year ago.

According to recent research analysis undertaken by the regional investment house CLSA Asia-Pacific, the Philippines "is undergoing a renaissance that looks all set to bring the economy to higher growth and power stocks to new heights."

The CLSA said that like the rare endangered Philippine eagle, a private sector investment cycle was a rare sighting in the country.

But now, the CLSA said, the country was on the cusp of another investment cycle for the first time in 15 years driven by political stability, rising business confidence, low interest rates, robust balance sheet and the country's long-term demographic potentials. "The Philippines soars like an eagle, again," the analysis said.

For the banking sector, Ron Rodrigo of DBP-Daiwa Securities was reported as saying that there were expectations that the Philippines may soon get a credit rating upgrade.

This helped sustain positive sentiment, Rodrigo said, a day after the BSP trimmed its key interest rates.

Continue reading

Philippines Unemployment drop bolsters economic optimism for 2012

THURSDAY, 01 MARCH 2012 21:16         

By: CAI U. ORDINARIO (http://businessmirror.com.ph)

The National Economic and Development Authority (NEDA) is confident that the increase in the number of employed Filipinos will boost the optimism for the economy this year.

Socioeconomic Planning Secretary Cayetano W. Paderanga Jr. said data from the National Statistics Office showed that the government created more than a million jobs last year. The quality of jobs also improved as indicated in the Labor Force Survey (LFS).

"Last year the country generated more employment from the previous year. Employment level rose by 3.2 percent or 1.156 million, largely on the strength of the continued growth in services and the recovery in agriculture, although there was a slowdown in the industry sector," Paderanga said in a statement.

Paderanga also said the country has a better unemployment figure compared to the United States, which has an unemployment rate of 8.3 percent in January 2012. He explained that this is because the character of our economy is different from those of developed nations.

He added that the government's infrastructure investments this year, such as those that will be used for public-private partnerships, will also boost the economy and enable small and medium enterprises to attain "economies of scale" in their operations and therefore, hire more workers.

"Infrastructure investments will actually go a long way because when you connect the economy, then our own small businessmen will have a bigger market to look at and therefore we may start attaining economies of scale, although this means more competition among them but we think in the end it will be good for everybody that they become more productive," Paderanga explained.

Data showed out of the 61.9 million Filipinos aged 15 years old and over, about 40 million were in the labor force or economically active in 2011. This translates to an annual labor force participation rate (LFPR) of 64.6 percent, higher than the LFPR in 2010 which was at 64.1 percent.

The NEDA added that despite an increase in the LFPR, the quality of employment remained positive last year, with strong growth in wage and salary employment which posted a 4.6 percent growth; modest growth in full-time employment, 1.5 percent; and slight easing of the unemployment rate to 7 percent in 2011 from 7.3 percent in 2010.

However, Paderanga said that while the Philippines may have fewer unemployed persons, the country would compare unfavorably to developed economies in terms of underemployment, which increased from 18.8 percent in 2010 to 19.3 percent in 2011.

Continue reading