Miss Universe 2015 attends Dior and Bulgari Fashion

Meet former Miss Universe Pia Wurtzbach: the German-Filipino actress is a UNAids ambassador and polyglot, attends Dior and Bulgari fashion shows, and wed last year after vowing she never would

Story by Gloria Fung 
South China Morning Post

Being blessed with both beauty and brains will always get you noticed. Happily, actress and model Pia Wurtzbach has leveraged her image and the power of social media for good since finding fame as Miss Universe, using her talents to advocate for sexual and reproductive health, LGBTQ rights and gender equality.

With a whopping 14.7 million followers on Instagram, Wurtzbach began her journey in front of the camera at the tender age of four. Having started out appearing in television shows and adverts, she began actively taking part in pageants in the early to mid-2010s. Eventually, she made it to the big time, and was selected to represent the Philippines at Miss Universe 2015.

She would go on to bring home the crown, making her only the third Filipino, and the first in over four decades, to do so.

The title made her famous overnight and she now uses her platform to speak out in her home country about sexual and reproductive health, women's rights and her support for the LGBTQ community. She has also been named Asia-Pacific goodwill ambassador for UNAids, and had an HIV test in front of cameras in 2016 to encourage people to know their HIV status.

Her talents also extend to writing. Last year, Wurtzbach penned Queen of the Universe: A Novel: Love, Truth, Beauty. Fans noted that the protagonist shares similarities with the beauty queen in her pursuit of success, love and happiness.

In her late 20s, Wurtzbach told her fans that she wasn't planning on marrying or having children. However she had a change of heart after starting a relationship with Scottish entrepreneur Jeremy Jauncey in 2020. The pair dated for two years before getting engaged in 2022 and tying the knot in 2023.

The polyglot - who's half German and was born in Stuttgart - speaks the language along with English, Tagalog and Cebuano. It certainly helps, given the beauty queen's jet-setting lifestyle, travelling the world with Jauncey, appearing on red carpets, at film festivals and at fashion shows.

The 34-year-old has been spotted in the front row at Alexander McQueen and Bally and her fame has led her to several long-term relationships with luxury brands. 

Her Instagram page reveals that she's a frequent guest at Italian jeweller Bulgari's events and regularly walks red carpets in stunning creations from the brand. In March she received a People Of the Year award from PeopleAsia. At the event in Manila, Wurtzbach wore a gold asymmetric gown with a matching Serpenti bag from Bulgari.

True to her beauty queen title, Wurtzbach's style is elegant and feminine, and she often opts for flowing gowns at events.

At a recent Dior show, she showed up in an ensemble that paid homage to the house's iconic 1920s style better known as The New Look. In a blazer belted over a black pleated skirt, Wurtzbach looked every bit the star in a modern and feminine take on the power suit.

Filipinas in Forbes' Billionaires List

These Filipinas Made It to Forbes' 2024 Billionaires List

Story by Cosmopolitan Philippines
06 April 2024

Women continuously break the glass ceiling—and the 2024 Forbes rich list is clear proof of it.

The Forbes' World Billionaires List stated that 369 out of the 2,781 declared billionaires are women. That's 13.3 percent of the world's wealthiest people. Their net worth? It's greater than ever, amounting to nearly $1.8 trillion (P101,507,400,000,000).

Here, we proudly report that three of those 369 wealthy women are Filipinas. These Pinays have been trailblazers not only in the billionaires scene but most importantly, in their respective industries.

Who are the Filipinas that made it to Forbes' World Billionaires List 2024?

3. Susan Co

Susan Co might be new to Forbes' billionaires list, but her legacy has been going on for decades already in the Philippines. She is the co-founder and co-owner of the famous retail supermarket chain Puregold. The supermarket still stands as one of the most affordable supermarket chains in the country and has become an icon in the retail industry. Forbes noted that the retail store has established 500 stores across the Philippines. She was also included in Forbes's "50 Over 50" in 2023.

Susan, together with her husband Lucio Co and family also heads Cosco Capital which has entered the industry of liquor distribution and real estate. Susan is now 61 years old and has a net worth of $1.1 billion (P62,045,500,000.00).

2. Elizabeth Sy

Elizabeth Sy is the second child of the late business tycoon, Henry Sy, who is known for establishing the biggest mall franchise in the Philippines, SM Supermalls. She has a net worth of $2.1 billion (P118,450,500,000.00).

Now 71 years old, Elizabeth is the president and chairman of SM Hotels and Conventions Corp. and has been an advisor for SM Investments since 2012.

1. Teresita Sy-Coson

Joining Elizabeth in the list of Pinay billionaires is her elder sister, Teresita Sy-Coson. Teresita is currently the vice chairperson of SM Investments. Other than that, she is the chairperson of one of the largest banks in the Philippines, BDO Unibank. That makes her expertise range from retail merchandising to mall development, and also banking. Her net worth is $2.3 billion (P129,731,500,000.00).

Philippines population is slowing down

Philippines' population growth rate slows down

Story by Arlie O. Calalo
Manila Times
06 April 2024

THE country's population growth rate has slowed down even as its aging population grew by 5 percent, the Commission on Population and Development (CPD) said on Friday.

The commission also noted what it calls population momentum, where the number of Filipinos is still on the rise owing to the fact that the children under the population pyramid are growing and also giving birth.

"It's still adding in absolute number," said Mylin Mirasol Quiray, acting chief of CPD-Knowledge, Management and Communication Division.

Quiray said the current fertility rate is 1.5 percent, or a little less than two children for every couple.

"It's more surprising in the National Capital Region because it's only 1.2 percent, meaning a couple is satisfied to have only one child in a family," she said in a television interview.

The growth rate is highest in Bangsamoro Autonomous Region in Muslim Mindanao, where a couple is likely to have an average of three children.

Quiray also set straight the wrong assumption that the birth rate was behind the increase in Metro Manila's population.

"The population growth rate in Metro Manila is not due to births but migration of people from the provinces who flock to the metropolis for economic opportunities," she said.

A study by the Philippine Statistical Research and Training Institute (PSRTI) showed a drop in the number of births at the height of the Covid-19 pandemic.

Quiray said there were 1.3 million births in 2021, which is lower than 1.5 million before the pandemic peaked in 2020.

The figure rose slightly in 2022 to 1.4 million when the pandemic was almost over.

"During the pandemic, we all thought that it would shoot up but it went down. However, when the restrictions were lifted, it went up a little," she said.

She said that during the pandemic, most Filipinos were more concerned about their economic condition and lack of employment than engaging in sex.

The PSRTI study indicated that fewer people chose to get married after the pandemic.

Quiray said the data suggests changing values regarding marriage, with a live-in arrangement preferred by people who are in the 30-year-old bracket.

However, live-in couples prefer to delay having a baby "and instead would love to have a pet as their child," she added.

Quiray said the working age (15 to 64 years old) remains high, although the number of older persons is increasing.

"The number could be better, since the people of working age "are that one that supports the depending population that is 0-14 years old and 65 years old above," she said.

"But the question is, are the working age employed, educated or healthy enough to support these dependents?" Quiray said.

Among the regions, Ilocos already has an aging population, based on the United Nations standard.

Quiray said the commission will continue to promote modern family planning methods to ensure a high quality of life for Filipinos.

Young Zobel named WEF's Global Leaders

Next-generation Zobel named among WEF’s 2024 Young Global Leaders

Story by Meg J. Adonis
Inquirer.net
05 April 2024

MANILA, Philippines — Jaime Alfonso Zobel de Ayala, chair of AC Mobility and among conglomerate Ayala Corp.’s next-generation leaders, is included in the World Economic Forum’s (WEF) most promising Young Global Leaders (YGL) this year for making significant strides in the industry despite his youth.

The only son of Ayala chair Jaime Augusto Zobel de Ayala, the 32-year-old Jaime Alfonso joins about 90 other “dynamic and diverse” young leaders across the globe who have made an impact on economic development and social welfare.

“This recognition celebrates Jaime Alfonso Zobel de Ayala’s leadership in driving AC Mobility to lead the Philippines’ [electric vehicle] transition and become not only the country’s leading mobility ecosystem, but also one of the next growth engines for the Ayala group,” the company said in a statement on Thursday night.

Jaime Alfonso has been at the helm of AC Mobility, the Ayala Group’s mobility arm, since September 2023.

Prior to that, he was co-head of the conglomerate’s strategy and development group and oversaw the capital deployment process for new ventures.

He graduated from Harvard University in 2013 with a concentration in government and a secondary concentration in visual and environmental studies.

He also obtained his master’s degree in business administration from Columbia Business School in 2019.

Genuine stakeholder impact

The young Zobel previously told the Inquirer that it was important for his generation of leaders to ensure that their initiatives were generating “genuine stakeholder impact.”

“It is an honor that our efforts are being acknowledged here and abroad—and we credit the many generations of Ayala executives and employees that made this happen,” he said.

“For the present generation of family members and employees, we hope to follow in our forebears’ footsteps. We hope to continue along this path of impact and shared value creation, while making sure that the projects and businesses we launch are relevant and meaningful to the many people that we touch,” Jaime Alfonso added.

Philippines inflation easing - World Bank

World Bank sees inflation easing in Philippines

Story by Louella Desiderio

Philstar Global

05 April 2024

MANILA, Philippines — Inflation in the Philippines is expected to decline, but geopolitical conflicts that may drive up fuel prices are seen to pose risks, according to the World Bank.

Ayhan Kose, deputy chief economist of the World Bank group, told reporters that the multilateral agency expects a decline in global inflation, as well as in the Philippines.

“We are expecting inflation to continue coming down in the Philippines as well,” he said.

Inflation snapped a four-month downtrend as it quickened to 3.4 percent in February from 2.8 percent in January due to faster food and transport price increases.

Food inflation, in particular, rose to 4.8 percent in February from 3.3 percent in January due to increases in rice and meat prices.

Earlier this week, the Bangko Sentral ng Pilipinas (BSP) said it expects inflation to have continued to pick up in March to settle within the range of 3.4 to 4.2 percent.

The BSP said the continued increases in the prices of rice and meat, higher domestic oil prices and electricity rates are primary sources of upward pressures in March.

Meanwhile, lower prices of fruits, vegetables and fish along with the peso appreciation were cited as factors that could contribute to downward price pressures.

The Philippine Statistics Authority is set to report inflation data for March today.

While the World Bank expects inflation to decline, Kose said the multilateral agency has a cautious outlook on how inflation is going to evolve and how monetary policy is going to respond in the United States and other advanced economies, citing risks such as geopolitical tensions, which could affect global trade and prices.

“The elevated geopolitical tensions could disrupt commodity markets and could basically increase inflationary pressures,” he said.

He said a large part of inflation movements are driven by oil prices, especially in countries that depend on imported oil like the Philippines.

If oil prices go up due to intensified geopolitical conflicts, he said this could lead to higher inflation and delay interest rate cuts.

Gonzalo Varela, lead economist for the Philippines at the World Bank, said how the BSP would go about its rate cuts would depend on what happens with supply-side shocks and inflation expectations.

National Economic and Development Authority Secretary Arsenio Balisacan said the government is committed to keep inflation within the target range of two to four percent this year.

“We’ll work very hard to address the non-monetary measures that are contributing to that resurgence of inflation in recent months,” he said.

Bloomberry Resorts win ASEAN Games Awards

 Enrique Razon's Bloomberry Resorts Wins Awards Ahead of Solaire Resort North Opening

Story by Esquire Philippines 

05 April 2024

The ASEAN Gaming Awards, which bills itself as an "independent, fair and representative awards event that acknowledges the significant achievements of different players in the Asian gaming industry," has handed out two trophies to Enrique Razon-led Bloomberry Resorts Corporation and its flagship property, Solaire Resort Entertainment City.

Bloomberry Resorts was recognized Best Gaming Operator, beating other regional players like Galaxy Entertainment Group, Las Vegas Sands, MGM China, and Hann Resorts. Criteria for the award in the gaming industry include corporate governance; financial performance; strategy, vision, and implementation; brand recognition; and customer loyalty.

Solaire Resort Entertainment City, on the other hand, took home the trophy for Best Integrated Resort. The other nominees are Newport World Resorts, Okada Manila, Marina Bay Sands, and Galaxy Entertainment Group. This category encourages properties to provide more than just gaming as entertainment and diversify options for entertainment and F&B.

The awards couldn't have come at a better time for the Enrique Razon Jr.-owned Bloomberry Resorts Corporation as it gets ready for the official opening of its second integrated resort, Solaire Resort North, in May this year.

Iloilo is one of the cheapest tourist destinations in SEA

Iloilo is the 5th cheapest tourist destination in all of Southeast Asia this summer

Story by GMA Integrated News
04 April 2024

Iloilo is among the cheapest travel destinations in Southeast Asia this summer, booking platform Agoda said.

The Visayan city ranked 5th in Agoda's list, with accommodation rates going as low as P2,814 a night. Commonly referred to as the City of Love, Iloilo is known for stunning beaches, hidden lagoons, its 11-kilometer bike lane, and food. 

Topping the list with an average room rate of P1,576 is Thailand's Udon Thani, home to tourist spots like the Chinese Gate, Udon Thani City Museum, and Nong Prajak Park. Udon Thani is pretty close to Laos’ capital, Vientiane, which only takes a little over an hour by driving.

Completing the top five with most affordable accommodation rates in Southeast Asia are Surabaya in Indonesia (P2,195), Hue in Vietnam (P2,420), and Kuching in Malaysia (P2,758).

Bengaluru in India (P3,096), Narita in Japan (P3,996), and Kaohsiung in Taiwan (P5,684) are ranked 6th, 7th, and 8th respectively.

The average room rates indicated above were calculated based on Agoda booking data from March 1 to March 18, 2024. 

In November, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) named Iloilo as the first Philippine city to join its Creative Cities Network in the field of gastronomy.

— Hermes Joy Tunac/LA, GMA Integrated News

Cebu on Bangladesh's Top 5 Asian destination

5 budget-friendly summer vacation destinations in Asia

Samayla Mahjabin Koishy
thedailystar.net
Thu Apr 4, 2024 

With its rich culture, breath-taking landscapes, and fascinating historical sites Asia has countless destinations fit for a summer vacation. Many well-known tourist spots within the continent, however, are somewhat pricey. Thus, putting them out of reach for those on a tighter budget. With a wide range of affordable adventures, we have gathered all the information you need for your next budget-friendly summer getaway. So, put your travel plans in motion and get ready for an incredible summer in Asia!

Cebu, Philippines

Being one of the most affordable Southeast Asian vacation spots, Cebu is the Philippines' most popular tourist attraction. Pristine white-sand beaches, magnificent waterfalls, flourishing marine life, adventurous parks, and a variety of outdoor activities await travellers in Cebu. Landmarks like Magellan's Cross and Fort Santiago are essential sites for history buffs while Moalboal is the perfect island spot for divers and snorkelers. 

The tasty, affordable food on the streets of Cebu and travelling via the metro can save major expenses.

Visiting Cebu for three to seven days is most affordable. The average cost of a weeklong vacation is around Tk 49,000 but the majority of tourists spend between Tk 22,000 and 82,000. It covers sightseeing, transportation, meals, and accommodation. Additionally, if one books early, round-trip flights from Dhaka to Manila could be between Tk 38,000 to 43,000.

Goa, India

Travellers looking for affordable Asian vacation should visit Goa, India's smallest state yet a popular destination. Here, they can unwind in beachside shacks and enjoy the relaxed pace of life. To get the adrenaline pumping, tourists can visit exciting venues, such as the Saturday Night Market, the lively seaside pubs, or the Anjuna flea market. The whitewashed churches, crumbling forts, and magnificent baroque architecture of Old Goa also captivate many. 

There are a variety of inexpensive transportation choices in Goa, including buses, taxis, and motorcycle rentals. With a budget of about Tk 3,000 to 8,000 travellers might engage in enjoyable activities. On average, tourists spend Tk 25,000 for a week in Goa, while the range is Tk 10,000 to 60,000.

Flights from Dhaka to Goa, including a return journey, may cost as little as Tk 35,000.

Siem Reap, Cambodia

Located in Southeast Asia, Siem Reap is a gem with breath-taking temples, vibrant cafés, and serene canals. One of the most amazing sights in the world, Angkor Wat, can be reached from Siem Reap. Additionally, tourists may visit the Tonle Sap Floating Village and Siem Reap Night Market for an experience that combines modernity with the old. After a day of seeing the city, tourists should finish the visit with a foot massage and some Khmer food.

Accommodation, approximately Tk 16,000, may be pricey here. However, tourists may only spend about Tk 8,000 per week on transportation and meals. A budget of Tk 10,000 would be good for seeing sights and having fun. A three-day vacation to Cambodia may be a reasonable investment, considering the estimated cost of Tk 45,000 to 50,000.

As an additional expense, round-trip flights might cost about Tk 50,000.

Nha Trang, Vietnam

One of Southeast Asia's cheapest destinations, Nha Trang, is perfect for beachgoers. With its stunning coastline, unspoilt coral reefs, and network of islands, this coastal jewel is home to an almost unmatched summer getaway. Tourists can indulge in mouth-watering fresh seafood, experience mud baths, and go snorkelling. Other than the scenery, Nha Trang also has several architectural monuments and cultural places including Thap Ba Ponagar. 

The Nha Trang holiday budget may support modest planning and amenities. There is a wide variety of reasonably priced rental homes on the market. Cafes serving Vietnamese food are also very inexpensive. Things like excursions may cost around Tk 10,000. Spending a week in Nha Trang for a single person will cost about Tk 30,000.

From Dhaka to Ho Chi Minh City in Vietnam, the cost of a round trip might range from Tk 54,000 to 66,000.

Dushanbe, Tajikistan 

One can consider visiting Tajikistan's capital, Dushanbe, for a fantastic and economical Central Asia vacation. The city is charming in its own right, with its quirky Soviet-era artwork on walls and majestic buildings along tree-lined streets.

Tourists can stroll around Rudaki Park, see the Ayni Opera, and learn about the city's history at the Museum of Antiquities and the National Museum. One of the best ways to further experience authentic local food and culture is to peruse the local bazaars.

The price of a round-trip ticket to Tajikistan is about Tk 90,000. However, for as little as Tk 1000 to 1500, you may stay at a guesthouse or even someone's home. This often also includes supper and breakfast. Additionally, they may connect you with local drivers. The price may be around Tk 2000. In fact, a week's worth of travel in Dushanbe is readily manageable for one person for around Tk 38,000!

Philippines ranked 5th among the fastest growing Asian economies in 2024

20 Fastest Growing Economies in Asia in 2024

Talha Qureshi

Yahoo! Finance
Thu, April 4, 2024

In this article, we will look at the 20 fastest growing economies in Asia in 2024. If you want to skip our detailed analysis, you can go directly to the 5 Fastest Growing Economies in Asia in 2024.   

Asian Economy to Deliver Two-thirds to Global Growth in 2024 

With global growth proving to be more resilient than expected and inflation rates declining steadily, the IMF expects the global economy to grow at the previous year's rate of 3.1% in 2024 as well. Looking ahead, global growth is anticipated to increase modestly by 0.1% to reach 3.2% in 2025. Similar to the global growth trend of a strong economic recovery, the growth expectations for Asia have been raised. According to the January 30 report by the IMF, the region's economic growth for 2023 was revised upwards to be at 4.7%, as opposed to the October 2023 projections of 4.6%.

The regional growth forecasts for 2024 have also improved, and Asia's economic growth for the year is now projected at 4.5%, against the previous expectation of 4.2%. The emerging economy of India, which is demonstrating a strong domestic demand, and China's higher spending on disaster reconstruction and resilience projects are said to be the main contributing factors behind the upward revisions. Moreover, other notable factors boosting the region's economic growth include positive spillover from 2023, a supportive external environment, economic growth in the United States fostering high demand for technology, and positive policy stimulus from strong economies such as China and Thailand. To read more about the Asian economy, you can look at the 23 Richest Countries in Asia by GDP Per Capita in 2023 and the 25 Poorest Countries in Asia by GDP per Capita. 

As a result of the aforementioned factors, the region is on track to lead the global growth in 2024, the same as the previous year, and is expected to contribute two-thirds to the global growth. However, the continued economic resilience of the region is subject to effective risk management. Some potential challenges facing the Asian economy include the deteriorating property sector of China, the financial volatility of some highly indebted economies, a long and inefficient supply chain, and the threat of higher shipping costs. On the bright side, effective monetary and fiscal policies to manage these threats can further boost the economy. On January 30, Reuters reported that the IMF believes that China's economy could recover faster than expected if the government makes additional property and structural reforms to boost consumer confidence. 

Key Players Leading the Asian Economy

HDFC Bank Limited (NYSE:HDB), Tencent Holdings Limited (OTC:TCEHY), and Toyota Motor Corporation (NYSE:TM) are some of the players leading the Asian economy. To read more about Asian companies, you can look at 20 Most Valuable Asian Companies Heading into 2024.

HDFC Bank Limited (NYSE:HDB) is one of the largest financial services and banking companies headquartered in Mumbai, India. The bank has a multinational presence and provides financial services to its customers in India, Dubai, Bahrain, and Hong Kong. It operates through three major segments: retail banking, wholesale banking, and treasury services. On March 21, HDFC Bank Limited (NYSE:HDB) announced its partnership with The Toronto-Dominion Bank (TSE:TD) to simplify the banking services for Indian students based in Canada. As a result of this agreement, both banks have announced new referral programs for students planning to study in Canada. Aspiring Indian students will be referred to The Toronto-Dominion Bank's (TSE:TD) international student GIC program that helps students comply with the Canadian government's Student Direct Stream study permit. This agreement builds upon the long-running partnership between both banks since 2015, where The Toronto-Dominion Bank (TSE:TD) has acted as a corresponding banking partner of HDFC Bank Limited (NYSE:HDB).

Tencent Holdings Limited (OTC:TCEHY) is another multinational technology company based in Shenzhen, Guangdong, China. It is one of the world's leading internet and technology conglomerates that provides entertainment, communication, e-commerce, advertising, and online payment services. On March 5, Tencent Holdings Limited (OTC:TCEHY) announced its partnership with the Etihad Etisalat Company (TADAWUL:7020), revolutionizing the digital landscape of Saudi Arabia under the 'Go Saudi' program. Etihad Etisalat Company (TADAWUL:7020), also known as Mobily, is a leading digital technology and media company in Saudi Arabia. The collaboration will allow Mobily to diversify its enterprise business solutions and tap into new technologies using Tencent Holdings Limited (OTC:TCEHY) cloud services.

Toyota Motor Corporation (NYSE:TM) is a leading multinational automobile manufacturing company based in Japan. The company designs, manufactures, assembles, and sells automotive vehicles and has a market presence in North America, Europe, Asia, and the Middle East. On March 5, Toyota Motor Corporation (NYSE:TM) announced that it had agreed to acquire Primearth EV Energy Co., Ltd (PEVE) as a wholly owned subsidiary from Panasonic Holdings Corporation (TYO:6752). After the successful acquisition, Toyota Motor Corporation (NYSE:TM) will continue collaborating with PEVE, Toyota Industries Corporation, and Prime Planet Energy & Solutions to meet its automotive battery demand.

The Asian economy is set to contribute two-thirds to global growth in 2024, and below, you can find the 20 fastest growing economies in Asia in 2024.

20 Fastest Growing Economies in Asia in 2024

Source: Asia's Top Growing Economies, 2024 - Seasia.co

Filipino tycoons on Forbes' billionaires list

Villar, 15 other PH tycoons land on Forbes’ 2024 billionaires list

Story by Meg J. Adonis 

Inquirer.net

03 April 2024

MANILA, Philippines — Real estate mogul Manuel Villar, who chairs property developer Vista Land & Lifescapes, emerged as the only Filipino in Forbes Magazine’s top 200 billionaires in 2024.

He ranked 190th in this year’s list, up from 232nd in 2023, as his wealth grew 28 percent to $11 billion.

The Sy siblings in the banking, property and retail businesses of conglomerate SM Group have combined wealth of $14 billion but they were ranked individually in the list.

Hans Sy was at 1,286th with net worth of $2.6 billion; Henry Jr. and Herbert at 1,330th with $2.5 billion each; Harley at 1,380th, $2.4 billion; Teresita Sy-Coson, at 1,438th, $2.3 billion, and Elizabeth at 1,545th, $2.1 billion.

Following Villar is ports tycoon Enrique Razon Jr. who ranked 224th, with his net worth rising to $10 billion in 2024 from $7.3 billion.

Ramon Ang of food and beverage conglomerate San Miguel Corp. ranked 920th with $3.5 billion, up from $3.4 billion.

Others on the list are Lucio Tan ($2.5 billion), Andrew Tan ($2 billion), Tony Tan Caktiong ($1.4 billion), Lucio and Susan Co ($2.3 billion combined), Lance Gokongwei ($1.1 billion) and William Belo ($1 billion).

The combined wealth of the country’s richest tycoons totaled $48.2 billion as their businesses benefited from postpandemic recovery.

According to Forbes, there are now 2,781 billionaires across the globe, 141 more than last year as their fortunes swelled despite geopolitical unrest and “lingering inflation.”

Philippines export receipts breached record

PH exports of goods, services breached $100B in 2023

Story by Alden M. Monzon

Inquirer.net

02 April 2024

MANILA, Philippines — The country’s export earnings from trade of goods and services breached the $100-billion mark in 2023, reaching a record-high level as receipts grew for the third consecutive year although still short of government and industry expectations.

The Department of Trade and Industry (DTI) on Monday released preliminary data showing that exports of merchandise and services had reached $103.6 billion last year, 4.8 percent higher than the $98.83-billion receipts in 2022.

The country’s total export receipts totaled $87.97 billion in 2021, $80.03 billion in 2020, and $94.74 billion in 2019.

The growth was driven largely by the information technology and business process management (IT-BPM) and tourism sectors, according to the government agency.

The DTI also pointed out that merchandise goods faced challenges during the year, with electronics contracting by 3.4 percent or $955 million.

Other commodities that contributed to the decline in merchandise exports include coconut products, other agro-based items, other mineral products and petroleum products.

In contrast, the DTI said fruits and vegetable exports experienced an increase in demand.

BPO, tourism post robust growth

For services exports, the DTI said the country had emerged as a “powerhouse,” recording a 17.4-percent growth, which pulled up the year’s total export performance.

In particular, the DTI said travel services contributed nearly 70 percent of the incremental service export receipts in 2023, followed by other business services.

Growth was also seen in several sectors including telecommunications, computer and information services and transport services.

Despite reaching record high in 2023, export revenues were below the target set by the government and export industry groups under the updated Philippine Export Development Plan (PEDP).

Under the PEDP, the government and the private sector had set an export target of $126.8 billion for 2023, indicating that actual performance was around $23 billion short of the mark.

Looking ahead, the DTI said it is leveraging technology and digital services to enhance export capabilities, an initiative that includes the launch of a free e-curriculum for local exporters and the implementation of an origin management system to promote the use of free trade agreements.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations,” Trade Secretary Alfredo Pascual said in a statement.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” he added.

Completion of feasibility study for P1.2B Aurora ecozone bamboo farm eyed this year.

Fil-Am wins MVP award in Korea

Fil-Am Ethan Alvano is first non-Korean to win KBL MVP award

Story by John Mark Garcia
Spin.ph
02 April 2024

FILIPINO-American ace guard Ethan Alvano made history as the first Asian import and non-Korean player to win domestic MVP honors in the Korean Basketball League (KBL).

The 27-year-old California native made the most of his sophomore stint in the KBL, having played all 54 regular season games with standout averages of 15.9 points on 40.9 percent three-point shooting, 6.6 assists, 3.0 rebounds and 1.5 steals.

Through his commanding exploits on offense, DB Promy clinched the top seed entering the postseason with a 41-13 (win-loss) card alongside his American cohort and newly-minted KBL foreign MVP Dedric Lawson.

Apart from his top-flight stints with German club Eisbaren Bremerhaven and Thai club Hi-Tech Bangkok City, Alvano suited up for Alab Pilipinas in the ASEAN Basketball League (ABL) and picked up valuable minutes as a starter in the 2018-19 campaign under then-head coach Jimmy Alapag.

His Alab stint saw him drop 7.3 points, 6.1 assists and 4.2 rebounds before taking his talents to the KBL in 2022 — the fourth Filipino player to do so.

Alvano joins another top-caliber guard in RJ Abarrientos in the KBL's circle of award-wininng Filipino stars after the now-Japan-based playmaker won Rookie of the Year honors in his one-and-done Korea stint last season.

World Bank forecast Philippines growth

 World Bank bullish on PH growth

Story by Ian P. Cigaral

Inquirer.net

02 April 2024

Manila, Philippines  — A “healthy” labor market and domestic demand should help the Philippines sustain an average growth of 5.9 percent from this year until 2026, the World Bank said in a new forecast that also sees a “gradual” decline in poverty in the country.

In its latest “East Asia and the Pacific Economic Update” report released Monday, the Washington-based lender kept its economic growth forecast for the Philippines for this year at 5.8 percent. It also said growth should inch up to 5.9 percent in 2025 and 2026.

While the World Bank said its outlook on the Philippines “remains positive,” the latest forecasts were lower than the targets of the Marcos administration, which projected growth at between 6.5 and 7.5 percent this year, and 6.5 to 8 percent from 2025 until 2028.

In 2023, the government failed to hit its growth target of 6 to 7 percent after the economy expanded at a slower pace of 5.6 percent due to painfully high inflation and expensive borrowing costs that sapped consumption, a traditional growth driver.

But things have been better now, Aaditya Mattoo, chief economist for East Asia and the Pacific at World Bank, said as he took note of the resiliency that domestic demand and the services sector had shown in the face of inflation, which finally eased to within the 2 to 4 percent target range of the Bangko Sentral ng Pilipinas.

Consumption, recovery in services

“What has sustained growth in the Philippines like much of the region has been consumption and the recovery in services,” Mattoo told a press conference.

Moving forward, Mattoo said the biggest risk to the Philippines’ growth story is the threat of climate change. This risk, he explained, can be mitigated by investments in infrastructure and agriculture.

The World Bank economist also flagged geopolitical risks that can cause supply chain disruptions and stoke inflation, as well as “macro policy shocks” like rate hikes that may derail recovery.

Poverty reduction

What fueled local demand despite the inflation onslaught last year was a robust jobs market and “firming investment activity” that kept many Filipinos employed amid hard times, World Bank explained in a separate report called “Macro Poverty Outlook” also released Monday.

That strength, the bank said, is expected to pluck out more Filipinos from poverty. The World Bank said poverty incidence—using its $3.65 per day threshold for lower-middle income countries—is projected to fall to 12.2 percent in 2024, from 17.8 percent in 2021.

In 2026, the lender sees the Philippines’ poverty rate further falling to 9.3 percent.

“Risks to the outlook remain tilted to the downside,” World Bank said. “On the domestic front, persistently high inflation would dampen economic activity by keeping the policy rate higher for longer, erode purchasing power, and threaten to deepen poverty,” it added.

President Marcos has set an ambitious goal of bringing down poverty to 9 percent before the end of his six-year term in 2028. INQ

Filipino Fashion Week in New York

 ‘FilipiNxt’: Manila takes Manhattan

Miss Charlize

Business Mirror

April 1, 2024

Filipino, Filipina, Filipinx. Next. Nxt. FilipiNxt.

Picture this: a world where Filipino creativity is not only recognized but celebrated on a global scale—as part of New York Fashion Week—organized by Filipinos for Filipinos.

This vision is coming to fruition with FilipiNxt: The New Era of Philippine Fashion, a fusion of heritage and innovation, on May 5, 2024 at 4W43 in New York City. The revolutionary event will feature the collections of Bessie Besana, Michale Leyva, Wilson Limon and Veejay Floresca.

The ambitious fashion odyssey had a special preview on March 12 at Marriott Hotel Manila with FilipiNxt cofounder Rob Mallari-D’Auria, Marriott Manila’s cluster director of sales and marketing Lala Quilantang, fashion designer and FilipiNxt founder Bessie Besana, and host Janeena Chan welcoming guests with a toast of gratitude.

“On behalf of our multi-property vice president for the Philippines of Marriott International Bruce Winton, it is my distinct pleasure to extend a warm welcome to each of you on this momentous occasion,” Quilantang said.

“Today, we stand at the crossroads of history, celebrating not just one, not just two but three remarkable milestones—the wonderful 15th anniversary of Marriott Manila, the 10th edition of Marry Me at Marriott, and the launch of this groundbreaking collaboration with Manila to Manhattan through FilipiNxt,” added Quilantang.

In May, Marry Me at Marriott will be featured in the New York staging of FilipiNxt. In July will be the 10th edition of Marry Me at Marriott at the Marriott Grand Ballroom, and the third season of Marriott Moments A-Fair: Dream Weddings and Events Expo at the MGBX, Marriott’s MICE (meetings, incentives, conferences, and exhibitions) venue.

“This one-of-a-kind partnership promises to redefine hospitality and fashion globally and locally, or should I say GLOCALLY. Today we will witness the dawn of a new era in Philippine fashion alongside the iconic Marry Me at Marriott. Together, these two innovative platforms shall embrace the rich Filipino artistry while conquering the global stage,” concluded Quilantang.  Meanwhile, Mallari-DAuria, the FilipiNxt cofounder, talked about the state of Philippine representation in the US fashion scene.

“We’ve got some incredible talent, no doubt about it. But you know what? We’ve never had a dedicated Filipino American Fashion Week in New York. Yes, we’ve had some designers showcasing in these events, but they mostly blend into other non-Filipino productions,” lamented Mallari-DAuria.

So, what’s the plan? Mallari-DAuria and designer Besana are making some bold moves.

“Because this generation of Filipino talent is creating designs that will grab the attention of the global audience, if given the right platform. And, that’s FilipiNxt,” said Mallari-DAuria. “This is a project that will tap young, talented and gritty Filipino designers to showcase their work for people to see and purchase. With resources, mentorship and killer platforms, FilipiNxt provides a showcase of their work.”

Besana, who is based in New York, will open the maiden FilipiNxt show with a collection he calls “Whispers of the Cosmos.”

Known recently as the creator of Miss Universe 2015 Pia Wurtzbach’s wedding dress, Besana’s design philosophy “revolves around the intersection of contemporary style and the inherent beauty of the human form. With an unwavering commitment to flattering silhouettes, his creations embody a perfect symbiosis of modern trends and classic sophistication.”

A day after the special press preview, Besana noted: “A lot has happened in the last 48 hours—from the idea of creating a show, to finding every single person to fit the roles and to working with all the creatives that believed in the vision that we have, it has been a whirlwind of an experience. I am proud to have produced FilipiNxt with Rob and this is just the beginning of everything. But what I do not forget is the core of who I am today. I am a designer and I will continue to hone my skills and my craft to show the world what a true Filipino talent is.”

After shows in Manila and Paris, Michael Leyva is set to conquer New York next with his newest collection, Heaven of Angels, a tribute to his late brother Brian who’s now his guardian angel. With his use of luxurious fabrics, intricate embellishments, and silhouettes that exude opulence, his creations are “often a harmonious marriage of classic elegance and modern sophistication, creating a visual spectacle that leaves an indelible impression.”

Wilson Limon and his brand NiñoFranco, will showcase Davao creativity with his upcoming collection inspired by the vibrant heritage and traditions of the indigenous T’boli ethno-linguistic group. As a hardworking member of the board of trustees of the Mindanao Trade Expo Foundation, he has hands-on experience in fashion, product design and branding innovation.

Representing the creative community of Los Angeles, beauty queen and designer Veejay Floresca will present her collection of timeless elegance and eco-conscious clothing. She is adept at combining “minimalism with contemporary trends that reflect the changing world of fashion.”

“This fashion collection draws inspiration from classic menswear tailoring, reimagining it through the lens of sustainability and upcycling. Each piece in the collection incorporates elements of traditional menswear, such as sharp lines, structured silhouettes and fine craftsmanship, but with a modern twist,” Floresca explained.

“I always believe in Filipino creativity especially when it comes to fashion. To be part of the FilipiNxt maiden show is an honor!”

Pinoy Boxer Regains Minimumweight Crown in Japan

Melvin Jerusalem stuns Yudai Shigeoka in Japan for WBC minimumweight crown

BY REYNALD I. MAGALLON

Manila Bulletin

Mar 31, 2024 

After a series of misfortunes, Philippine boxing has finally risen and Melvin Jerusalem was the anointed one on Easter Sunday, March 31.

The pride of Bukidnon defeated Japanese defending champion Yudai Shigeoka via split decision to wrest the WBC minimumweight crown before a hostile crowd inside the International Conference Hall in Nagoya, Japan.

Jerusalem knocked down Shigeoka twice, first with a booming right in the third round and another in the sixth round to get the nods of the two judges at the end of the 12-round bout.

The 28-year-old Filipino fighter had judges Jae Bong Kim and Barry Lindenman scoring the fight in his favor with a similar 114-112 scorecard while judge Malcolm Bulner had Shigeoka winning with a 114-113 count.

Jerusalem improved his record to 22-3 with 12 KOs while Shigeoka absorbed his first taste of defeat after nine bouts.

The Filipino fighter was the aggressor in the early goings of the fight, dictating the tempo with timely body shots that obviously hurt and slowed down the Japanese champion. The booming right then staggered Shigeoka who fell to the canvas but immediately got back up in the third round.

Needing to recover from the early knockdown, Shigeoka pressed the fight and also landed heavy hits to the head of Jerusalem including a big left in the fourth round. The Japanese kept coming in the ensuing frames before the Filipino caught him with a right counter straight that sent him down to the canvas for the second time.

The stunning win not only allowed Jerusalem to return to the top of the minimumweight division but he has also given the country its first and lone world champion after several notable compatriots fell prey to the thriving Japanese boxing in the past few months.

He ended that curse that seemingly haunted Filipino fighters in the Land of the Rising Sun after Marlon Tapales and Jerwin Ancajas both lost their respective title fights against the champion brothers Naoya and Takuma Inoue in Japan.

Even compatriot Jake Amparo fell victim to the curse hours earlier after losing via second round knockout in the co-main event against Yudai's brother and IBF minimumweight champion Ginjiro Shigeoka.

For Jerusalem, it was a repeat of history after he also won his first world title in Japan after he defeated another Japanese champion in Masataka Taniguchi last year in Osaka to wrest his previous WB minimumweight belt.