JP Morgan, First Metro bullish on Philippine economy

 ABS-CBN's News Report,

MANILA, Philippines - JP Morgan Chase & Co. and First Metro Investments Corp. (FMIC) of the Metrobank Group are bullish about the Philippine economy and see the local equities market breaching and hitting a new record level above 5,000 points this year.

JP Morgan head of research Gilbert Lopez said in a press conference that the Philippine Stock Exchange index (PSE) is likely to hit a new record level of 5,100 points or 5,150 points this year.

Lopez pointed out that the equities market is likely to perform better than the fixed income market this year on the back of the country’s improving economy and higher government spending.
“We are bullish in the market. For 2012, our main theme would be increased infrastructure spending by the government,” Lopez said.

He pointed out that investors could place their long term investments in conglomerates and banks that could benefit from the take off of the Aquino administration’s public private partnership (PPP) program this year.

According to him, JP Morgan is looking at an earnings growth of about 10 percent to 12 percent this year and a price-earnings (PE) ratio of about 17 times to 18 times.

He recommended Metro Pacific Investments Corp. (MPIC) and diversified conglomerate Ayala Corp. that have expressed interest in major infrastructure projects under the PPP.
Likewise, he said investors could invest in banks particularly the Ayala-controlled Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Co. (Metrobank), and Security Banking Corp.

Lopez said banks had a banner year in 2011 in terms of assets and loan expansion.
Adrian Mowat, JP Morgan’s chief emerging market and Asian equity strategist, told reporters that the country’s gross domestic product (GDP) would grow by about four percent this year.

The country’s GDP growth slackened to 3.7 percent last year from 7.6 percent in 2010 or lower than the government’s revised target of 4.5 percent to 5.5 percent due to weak global trade and underspending by the national government.
Mowat said investors are attracted to the Philippines on the back of its stable political environment, stable foreign exchange, manageable inflation, and record low interest rates.

He explained that emerging market economies including the Philippines would perform better this year amid lower inflation.

“We expect emerging markets including the Philippines to perform very well this year. It (inflation) is no longer the problem and central banks have reduced interest rates,” Mowat said.
JP Morgan said the country’s GDP would expand four percent this year and inflation four percent at the end of the year.

Inflation inched up to 4.4 percent last year from 3.8 percent in 2010 despite higher commodity and oil prices.

For his part, FMIC president Juanchito Dispo said the PSE index would breach the 5,000 point level this year.

“The Philippines will continue to attract higher investments,” Dispo added.

He explained that the Philippines is the best performing equities market in Asia last year and is the second best in the world next to Dow Jones.

The PSE index hit a new all-time high of 4,677.62 points last Thursday.

source:  ABS-CBN News

US tightens rules on remittances to protect senders (Philippines)

  ABS-CBN's News Report,

The federal Consumer Financial Protection Bureau (CFPB) last month ordered money remittance firms to disclose upfront all the fees they charge customers – one in a slew of new rules to oversee the multi-billion money transfer business.

The rules won’t be enforced until next year but will have a major impact on Filipinos in the United States, who sent home nearly $8 billion (about P330 billion) in 2011, posting one of the most robust increases in decades.

Image Credit: opinion-maker.org

"With these new protections, international money transfers will be more reliable,” the bureau’s newly appointed director Richard Cordray said. “Consumers will know the costs ahead of time and be able to compare prices. Transfer providers will also be held accountable for errors that occur in the process." 

Most of the money remittance companies that have predominantly Filipino clients appear to be already practicing the new rules.

"People sending money to their loved ones in another country should not have to worry about hidden fees," Cordray said.

The new rules require money remittance companies to disclose to customers any fees, theexchange rate and the amount that will be paid to the recipient in local currency. They also stipulate that customers must be given 30 minutes to cancel a transaction.

In addition, money remittance companies are bound to investigate all complaints, such as funds not reaching recipients.

Western Union spokesman Tom Fitzgerald said the company plans to be compliant with the rules by the effective date.  He said the company already provides customers with disclosures on fees, exchange rates and payouts.

"We agree that consumers will benefit if all remittance providers are held to the same requirements," he said.

The Bangko Sentral ng Pilipinas (BSP) reported that total dollar remittances from overseas Filipinos reached $18.3 billion from January to November 2011, a 7.31 percent rise over the same period in 2010.

Of that amount, $7.7 billion came from Filipinos in the US, a 7.46 percent increase. The November figure nearly matches total remittances from the US for the whole of 2010 which reached $7.8 billion. Remittances back to the Philippines usually peak during the Christmas holidays.

Bank officials in Manila said more remittances allow for greater consumer spending that makes up partly for poor exports. Foreign remittances account for about 10 percent of the Philippine economy.

The CFPB was created as part of financial reforms following the Wall Street crisis in 2008. Cordray was appointed the bureau’s first director earlier this month, a move that drew criticisms from Republican members of Congress opposed to the CFPB.

Republican lawmakers fear the agency would be too powerful but with very little accountability.

International money transfers have never been subject to federal consumer regulations until this month.

source:  ABS-CBN News

Prosecution wants to subpoena PSBank officials (Philippines)

 ABS-CBN's News Report,

MANILA, Philippines - The House prosecution panel has filed a request for the Senate impeachment court to subpoena officials of the Philippine Savings Bank or PSBank for the bank records of Supreme Court Chief Justice Renato Corona.

Image Credit: jobstreet.com.ph

This is in connection with article 2 of the impeachment case against Corona on his alleged non-disclosure of his Statement of Assets, Liabilities and Net worth.

The bank's officials are also compelled to produce the identification and signature cards of accounts under Corona's name which supposedly won P1 million in the PSBank Monthly Millions Raffle Promo as listed in the official list of winners of March 13, 2008; monthly bank statements from the time of opening of the accounts till January 2012, and other bank accounts, time deposits, money market placements and peso and dollar accounts under the names of Corona or his wife Cristina.
PSBank is part of the Metrobank Group of companies.

source:  ABS-CBN News

Why did Bipasha Basu refuse to work with Emraan Hashmi? (India)

 Report from Bollywod Life,

Though the prospect of kissing her male co-actor for a film gives Bipasha Basu nervous jitters, a possible lip-lock was not the reason why the gal refused to work with Emraan Hashmi some years ago. The dusky bombshell was skeptical of being paired with Emraan for Raaz 3 and if you ask her why, Bipasha doesn’t mince words. “I did not refuse to work with Emraan. It is just that I couldn’t work with him earlier. He was really young and I saw him when he was 18, as an assistant director on Raaz. When we were approached for a film, I looked way older than him because of my weight,” said Bips in an interview with a daily. There are many leading ladies who are a bit hesitant to work with the Serial Kisser thanks to his his lip-locking reputation. Even Mallika Sherawat, who went on a kissing spree with Emraan in Murder, said recently that she would rather kiss a snake than smooch with Emraan again. But Bipasha claims she had her valid reasons and felt that Emraan would have looked juvenile had he been paired with her earlier.

Image Credit: manipalworldnews.com

So what has suddenly changed now for Bips to change her mind? Has Emraan suddenly grown a few inches taller? Has he started looking more mature, with his facial fuzz and bulked up muscles? Or has he become a hot draw at the BO, something that no actor with a need for a hit film will think of avoiding? “I also have to be convinced that I should look good with whoever I am paired up with on-screen. Today I look younger than I looked then,” said the babe, showcasing her seemingly reversed age cycle instead of complementing her Raaz 3 co-star for his growing ‘maturity’. Bipasha, we think, is not only getting younger with every passing  
                                                                                       birthday, but also getting brainy as she grows
                                                                                       up. Agreed, Bipasha fans?

source: Bollywood Life

Thiruvananthapuram best Kerala city to live in: Times survey (India)

Times of India's News Report,

 

Thiruvananthapuram is the best of Kerala's big cities to live in, ahead of Kozhikode and Kochi in that order. That's the finding of a five-city field survey done exclusively for The Times of India. Thrissur and Kottayam were the other cities covered by the survey.

Times online survey: Choose the best city of Kerala

Residents of the state capital would do well, however, not to get too exultant about this finding. While their city finishes on top of the heap on many of the 30 parameters on which the rankings are based, it is just about "average" overall on a 5-point scale ranging from very poor to very good, according to the survey.

From the point of view of those who live in Kottayam, the worst performer in the survey, there isn't that much to be anguished about. The city's overall rating of 2.33 makes it only somewhat worse off than best-placed Thiruvananthapuram. It is, by the way, the only city on the list which does not have a population of a million or more.

What the relatively low scores and narrow spread between the top and bottom suggest is that Kerala's town planners need to put on their thinking caps to figure out how to raise the quality of life in towns that are rapidly expanding. It appears the infrastructure is not quite keeping up with the pace of their expansion.

High cost of living a major problem

No matter which city in Kerala you live in, it appears there is no running away from a major problem -- the high cost of living. Interestingly, Thiruvananthapuram was in a relatively better position with a score of 2.5. The industrial capital, Kochi, did quite a bit worse and the town scored only 1.7 in this category. One thing's for sure - the items in the shopping basket of an urban Keralite are overpriced. From mortgages to Matta rice, the rising cost of living is adding to the burden of an upwardly mobile family in the state now.

The traffic situation, difficulty in finding domestic help, lack of open spaces and shrinking parking facilities were other common issues the five towns faced. Not all of these made a big difference to the overall ratings that cities got. The reason - if something is uniformly good or bad across competing entities, it ceases to be a key differentiator. This also serves to explain why parameters like power and water supply or law and order do not seem to make a big difference to how people rate their cities in an overall sense.

The state of parking facilities in all the towns could be described in a single word -- dire. Not surprisingly, Kochi emerged as the worst city in terms of parking facilities with a score of 1.1, while Thiruvanathapuram, still pathetic in terms of ease of commuting, ranks top with 2.2.

Image Credit: travelmadeeasy.in

Educational facilities uniformly good

As for the good news, the ratings for educational facilities were uniformly good, even the worst city getting a score of 3.2 on this count. Similarly, on cultural heritage too all the cities did well with scores between 2.9 and 3.2.

The findings on Thrissur arguably offer us the biggest shock of all. Long known as the 'cultural capital' of the state, the city has performed worst on the parameter of 'respect for culture and values'. Given the fact that the survey measures perceptions of residents of each city about their own city, it is possible that this might be because yardsticks differ from one place to another.

Alternatively, if residents of Thrissur perceive their city as declining in this aspect, they may rate it low despite the fact that it could still be better than others.

The survey results offered serendipities too - Thiruvananthapuram surprised us by stealing the top in the 'entertainment options' parameter without having a single multiplex in the town. The exceptional performance of Thiruvananthapuram must be attributed to the many venues it offers for public entertainment. Six cinemas and seven happening places - Tagore Centenary Hall, Nishagandhi open auditorium, Chandrasekharan Nair stadium, VJT Hall, University Senate Hall, Vylopilly Samskriti Bhavan, Shanghumugham Beach - it appears to have helped push Thiruvananthapuram to the top slot with a score of 3.2 on this count.

Then there were few issues which were unique to each town - Kottayam complained about 12 issues. Some, like the lack of shopping malls, eateries, not-so-great work environment were termed major by the residents of the town. Likewise, Thrissur too had a peculiar problem - the undependable supply of electricity.

Thiruvananthapuram finished on top overall because it was best on a whole range of parameters. As for Kottayam, it did perform best in one area - educational facilities - but that wasn't enough to offset the many others where it lagged behind the rest. 

 

source: Times of India

Per capita income crosses Rs 50,000 for first time in 2010-11 (India)

 Report from Zee News India,

New Delhi: Reflecting growing prosperity, India's per capita income grew by 15.6 percent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time, according to government data.
   
"The per capita income at current prices is estimated at Rs 53,331 in 2010-11, as against Rs 46,117 for the previous year, depicting a growth of 15.6 percent," said the Quick Estimates of National Income released by the Central Statistical Office (CSO).
   
The growth in per capita income comes on the back of 8.4 percent expansion of the Indian economy during the last fiscal.
   
Per capita income is the earnings of each Indian if the national income is evenly divided among the country's population of around 120 crore. It is an important indicator of overall prosperity in the country.
   
However, the increase in per capita income at constant (2004-05) prices, after discounting for inflation, was about 6.4 percent in 2010-11. It was Rs 35,993 in 2010-11, as against Rs 33,843 in the previous year.
   
According to the figures, the size of the economy at current prices rose to Rs 71,57,412 crore last fiscal, up 17.5 percent from Rs 60,91,485 crore in 2009-10.
   
Based on 2004-05 prices, the Indian economy expanded by 8.4 percent during the fiscal ended March, 2011.
   
The GDP at constant (2004-05) prices in 2010-11 has been estimated at Rs 48,85,954 crore, as against Rs 45,07,637 crore in 2009-10, as per the Quick Estimates.
   
The rate of growth in the 2009-10 fiscal stood at 8.4 percent, as per  provisional estimates which were also released today.

As per the Quick Estimates, private final consumption expenditure (PFCE) in the domestic market at current prices was estimated at Rs 43,59,792 crore in 2010-11, as against Rs 37,22,036 crore in 2009-10.

Image Credit: rediff.com

   
At constant (2004-05) prices, the PFCE stood at Rs 30,87,047 crore in 2010-11, as against Rs 28,52,301 crore in the previous fiscal.
   
"In terms of GDP at market prices, the rates of PFCE at current and constant (2004-05) prices during 2010-11 are estimated at 56.8 percent and 58.9 percent, respectively, as against the corresponding rates of 57.6 percent and 59.7 percent, respectively, in 2009-10," the data said.
   
The per capita PFCE in the domestic market in 2010-11 stood at Rs 36,760 at current prices and Rs 26,029 at constant (2004-05) prices, as against Rs 31,812 and Rs 24,379, respectively, in 2009-10.
   
Gross Domestic Saving (GDS) stood at Rs 24,81,931 crore in 2010-11, as against Rs 21,82,970 crore in 2009-10, constituting 32.3 percent of the GDP at market prices, as against 33.8 percent in the previous year.
   
"The decrease in the rate of GDS has mainly been due to the decrease in the rates of financial savings of the household sector from 12.9 percent to 10 percent and the private corporate sector from 8.2 percent in 2009-10 to 7.9 percent in 2010-11," the estimates said.
   
Gross Domestic Capital Formation, however, increased from Rs 23,63,670 crore in 2009-10 to Rs 26,92,031 crore in 2010-11.
   
At constant (2004-05) prices, it increased to 19,74,172 crore last fiscal from Rs 18,38,870 in 2009-10.
   
"The rate of gross capital formation at current prices is 35.1 percent in 2010-11 as against 36.6 percent in 2009-10. The rate of gross capital formation at constant (2004-05) prices is 37.7 percent in 2010-11 as against 38.5 percent in 2009-10," the Quick Estimates said.
   
It further said that the change in stocks of inventories, measured as additions to stocks increased at current prices, stood at Rs 2,54,970 crore in 2010-11 as against Rs 1,74,310 crore in the year-ago period. 

source: Zee News

Salman Khan to play Dhoni? (India)

Here’s something that we found really strange. We heard that Salman Khan will be playing cricketer Mahendra Singh Dhoni in a film for Mahesh Manjrekar. We also heard that the film is most probably the Hindi version of Mahesh’s superhit Marathi flick, Shikshanachya Aaicha Gho. You may recall that a Tamil version of SAG, titled Dhoni, is already under production. Mahesh apparently wants Salman to play the cricketer in his Hindi version. What we find strange about this is not that Salman is playing a top notch cricketer, but that the cricketer is Dhoni. It is well known that Dhoni is a very close friend of John Abraham.

Image Credit: http://www.bollywoodlife.com

You all know that Salman Khan has been miffed with John ever since they went on a tour together, though the exact reasons for it are, as with so many things Bollywoodian, rather mysterious. The ice thawed only last month when John came on Salman’s Bigg Boss 5 to promote Desi Boyz. The two spent some time together on the sets and their bonhomie was visible to all. But whether Salman, who is known for not forgiving others who’ve crossed him, had really truly forgiven John was still a mystery. Now it seems that he has, otherwise he would stay away from playing Dhoni, right? John has often said that he is very close to the cricketer, and was one of the first who knew about Mahi’s secret girlfriend (now wife) Sakshi. We also heard that when John broke up with Bipasha Basu, Dhoni ended his friendship with her. Now when the cricketer’s career has hit the worst low ever, John has come out in full support of his friend. When you consider all this, it seems really strange that Salman would agree to play the cricketer onscreen if he hadn’t forgiven John. He could well insist that the character be based on any of our other famous cricketers, right? What do you think?

 source: Bollywood Life

‘Agneepath’ raking the moolah (India)

Report from Zee News India,

Mumbai: ‘Agneepath’ is roaring success and riding high with its Box Office collection. Sanjay Dutt and Hrithik Roshan have pulled off stunners as Kancha Cheena and Vijay Dinanath Chauhan and have immortalised the characters once again on celluloid.

Image Credit:filmigallery.com

Fans of the superstars have been busy discussing the film and have been relentlessly praising their performances in the film. And Karan Johar must be on cloud nine for sure, as he has been able to recreate the same magic his father created back in 90s.

Apart from showering applause and praises, trade experts have also been busy keeping a tab on the film’s BO performance.

Bollywood trade expert Taran Adarsh has good news for all the diehard fans of ‘Agneepath’.

The film has kept the Box Office ringing over the weekend with a collection of Rs 67.5 crore.


Adarsh took to Twitter and wrote, “#Agneepath weekend total stands at Rs 67.5 cr nett. Breakup:- Thu 23 cr, Fri 12.75 cr, Sat 14.5 cr, Sun [estimates] 17.25 cr(sic).

“#Agneepath set a new record for opening day on Thu, but dipped on Fri, picked up on Sat and performed gloriously on Sun again(sic),” Adarsh wrote on the micro blogging site.

‘Agneepath’ is here to rule the BO. And if the film’s trade figures are anything to go by, the upcoming films of 2012 are bound to face the wrath of walking on ‘agnee’ path! 

source: Zee News

Puerto Princesa Underground River confirmed as among New 7 Wonders of Nature (Philippines)

MANILA, Philippines - The Puerto Princesa Underground River (PPUR) is now officially part of the New7Wonders of Nature.

“I am proud to confirm that PPUR is now one of the New7Wonders of Nature; preparations for the proclamation are underway,” Puerto Princesa City Mayor Edward Hagedorn announced yesterday at a press briefing at Heritage Hotel in Pasay City.

Image Credit: http://pinoyambisyoso.com

Hagedorn said he received the good news from New7Wonders founder Bernard Weber, who also informed him that PPUR got a total of 20 million votes based on a global tally.

PPUR joins the list of New7Wonders of Nature, which include the Amazon River in South America, Halong Bay in Vietnam, Iguazu Falls in South America, Jeju Island in South Korea, Komodo National Park in Indonesia, and Table Mountain in Cape Town, South Africa.
PPUR is the longest navigable underground river in the world and is managed by the city government of Puerto Princesa.
It is also the first national park to be cited for its best practices in biodiversity conservation and sustainable tourism.

 

Meanwhile, presidential spokesman Edwin Lacierda said in a statement Malacañang welcomes the confirmation of the Puerto Princesa Underground River as one of the New7Wonders of Nature.

“Throughout the competition, Filipinos from all walks of life have given time, energy and resources to this campaign,” Lacierda said in a statement.

Lacierda added, “This effort has raised awareness not only overseas but nationally as well. Visits to the PPUR have increased tremendously. This is proof of how effective a national effort can be, to build awareness, express pride and achieve results.”

With the inclusion of PPUR on the New7Wonders list, Hagedorn expects an increase in tourists, more job opportunities for the locals, and additional revenue for the province.

“We are expecting that the P2-billion revenue will be double this year,” Hagedorn said. - With Aurea Calica

source: PhilStar

Mahindra XUV500 secures 5,900 bookings in two days (India Cars)

 The company registered around 5,900 plus bookings for its XUV500 within two days of reopening the registrations.

Image Credit: carkhabri.com

Mahindra and Mahindra (M&M) on Friday reported that the company had received around 5,900 plus bookings for its newest SUV, the XUV 500 within two days after the bookings were reopened on January 25.

Within ten days of the launch of the XUV500, the company has accumulated over 8,000 bookings and the carmaker finally had to shut down the registrations of the SUV on October 11, 2011 to cope with the orders in hand. Now, since the company has cleared the backlog, the second phase of the bookings commenced on January 25 and will be kept open till February 3.

The company has also raised the prices of the XUV500 from January 1, 2012 due to rise in the prices of raw materials and depreciation of rupee. The price of the base model W6 has been hiked by Rs 30,000 and that of models W8-FWD and W8-AWD have been hiked by Rs 50,000 and 55,000 respectively. (All prices are ex-showroom, New Delhi.)

Please, leave your feedback about this article in the comment box below.

source: On Cars

'Agneepath 2012' stars thank audience for tremendous response (India)

Indian Express's News Report,

The star cast of Karan Johar's remake of 'Agneepath' is elated with the response the movie has received at the box office on the opening day and can't stop thanking the audience for that.

In 'Agneepath' Hrithik Roshan has reprised the iconic role of Vijay Dinanath Chauhan, which had been played by megastar Amitabh Bachchan in the original film, while Sanjay Dutt play the baddie Kancha.

The film released yesterday and collected Rs 23 crores on the opening day.

Image Credit: washingtonbanglaradio.com

“WOW!! THANK u THANK u THANK YOU!! Agneepath first day - 23crore!! My damaged body parts suddenly feel ALIVE, I feel like I can FLY now! Thank u people, I have the fuel now to make KRRISH EXPLODE!! And explode he WILL!!,” Hrithik wrote on Twitter.

Even Sanjay, who is not too active on twitter, thanked all his fans for the response to the movie and his deadly avatar as Kancha.

“I am overwhelmed with the response and support of everyone. Thank you for loving me so much,” he tweeted.

The film's leading lady Priyanka Chopra, who has a comparatively smaller role playing Hrithik's love interest, is also happy with the overwhelming response.

“'Agneepath' has redefined the power of Indian box office for all of us. It's heartening to see the strength of the Indian cinema audiences growing like this. We all were confident of the film but for this kind of success and unprecedented number that it has posted on day one we must thank our audience,” Priyanka said in a statement.

source: Indian Express

Indian schoolboy invents anti-molestation device for women

Report from Zee News,

London: An Indian schoolboy from Delhi claims to have invented a device that can help women stave off would-be attackers.

The device, which can be worn like a wristwatch, delivers an electric shock once it touches the attacker’s skin.

Manu Chopra, 16, said that he wanted to “use science to provide safety to women on the street”.

Parts of many Indian cities, including the national capital, are unsafe for women.

Image Credit: zeenews.india.com

Many working women carry pepper spray to deter attackers.

The latest National Crime Records Bureau figures show that India recorded almost 22,000 rape cases in 2008, 18 percent up from 2004.

Chopra said that it was “shameful” that women consider it unsafe to go out of home at night.

“Even my sister is not allowed to go out when dark because it is unsafe,” the BBC quoted the boy as saying.

“This is the state of the national capital.

Chopra, whose sister Kaanchi is 12, said that it took him about six days to make the device and he expects it to be up for sale for as little as 122 rupees.

The student of Delhi’s GD Goenka School said the idea to work on the device came to him when he read about a national competition, organised by the National Innovation Foundation (NIF).

The foundation, set up by the government, awards children for their innovation and creativity.

The product is attracting a lot of attention and there is talk of its market launch.

But the foundation says it may take time as the “prototype needs to be refined further to be launched as a product” and tests need to be conducted to prove its efficiency.

The “anti-molestation device” is activated when it records a significant rise in nerve speed and pulse rate of the victim.

For it to be effective, the victim has to ensure the dial of the device touches an exposed part of the attacker’s body.

“It gives a feeble shock to the molester, giving precious time to the victim to flee,” Chopra added.

The device also has an inbuilt camera to record the image of the attacker. 

source: Zee News India

Luis Manzano to host 'Kapamilya, Deal or No Deal 2012' (Philippines)

ABS-CBN's News Report: 

MANILA, Philippines - Actor and television host Luis Manzano revealed that he is set to host the new season of the ABS-CBN game show “Kapamilya, Deal or No Deal.”

Image Credit: jullbar.com

Manzano made the announcement during the final episode of “E-Live” aired on Saturday.

“Ako na po ang magiging pinakabagong host ng ‘Kapamilya, Deal or No Deal,’” he said.

“Kapamilya, Deal or No Deal” is the Philippine franchise of the Endemol game show “Deal or No Deal.”

It was previously hosted by Queen of All Media Kris Aquino.

Please, leave your feedback about this article in the comment box below.

 source: ABS-CBN News

2 hurt in plane-trike collision in Lingayen (Philippines)

ABS-CBN's News Report:  

MANILA, Philippines – Two people were hurt as a tricycle slammed into a Cessna aircraft at an airport runway in Lingayen, Pangasinan on Saturday.

Image Credit: tonetcarlo.wordpress.com

According to a report by the Civil Aviation Authority of the Philippines (CAAP), a Cessna 152 plane carrying a flight instructor and a student just landed on the runway when a tricycle suddenly blocked its path.

Both Queenie Gaviola, flight instructor of Flight and Simulator Training, Inc. in Las Piñas, and student pilot Joseph Valledor, Jr. of Parañaque were injured in the collision.

The tricycle driver, meanwhile, immediately fled the scene after the mishap.

CAAP said the plane’s horizontal stabilizer was damaged.

Authorities are currently investigating how the tricycle was able to access the airport’s runway.  
  source: ABS-CBN News

Arum offers Floyd $45-M for Pacquiao fight (Philippines)

 ABS-CBN's News Report:

MANILA, Philippines – Boxing promoter Bob Arum dared Floyd Mayweather Jr. to take the Manny Pacquiao fight by accepting a fixed guarantee minus the pay-per-view income.

This was the Top Rank Inc. CEO’s response to Mayweather’s $40-million guarantee offer to Pacquiao.
“I am offering Mayweather $45 million under the same terms he offered Pacquiao,” Arum told Boxing Scene’s Ronnie Nathanielsz.

Image Credit: pinoygigs.com

Pacquiao revealed that the unbeaten American boxer made the offer when they talked over the phone two weeks ago.

Mayweather reportedly said Pacquiao could get a $40-million guarantee minus all the other income to be generated by their fight.

Nathanielsz speculated that the super fight, seen by many as the most lucrative bout in the history of the sport, could earn an additional $150 million aside from Mayweather’s $40-million guarantee.

Pacquiao rejected Mayweather’s offer and insisted a 50-50 split instead.

“Kaya hindi matuluy-tuloy kasi minsan agree na siya sa 50-50 tapos ayaw na naman niya, iba na naman kundisyon niya (The fight couldn’t push through because at one time he agreed on a 50-50 split only to change his mind),” said the Filipino champion in an interview with ABS-CBN correspondent Jay Dayupay.

Pacquiao said he deserves an equal share because he draws a lot of viewers in pay-per-view.
In his last two fights, Pacquiao generated better pay-per-view sales than Mayweather.

His 12-round battle against Juan Manuel Marquez garnered 1.4 million pay-per-view buys in November 2011, while his bout against Shane Mosley in May 2011 generated 1.3 million.

Meanwhile, Mayweather's fight against Victor Ortiz last September generated 1.25 million in pay-per-view sales.

 source: ABS-CBN News

Iza Calzado meets 'Bourne Legacy' stars (Philippines)

 ABS-CBN's News Report,

MANILA, Philippines - Actress Iza Calzado has expressed how thrilled she was to personally meet the “Bourne Legacy” stars Jeremy Renner and Rachel Weisz.

Image Credit:abs-cbnglobal.com

Calzado said she was given a chance to meet Renner and Weisz during the birthday celebration of Tim Yap.
In an interview with Push.com.ph, Calzado admitted that she was so excited that she almost hugged Weisz upon seeing her.

“Gusto ko siyang (Weisz) yakapin eh, nagpigil lang ako baka hindi na niya ako gustong yakapin next time ‘pag nilundag ko siya,” she said.

According to Calzado, she is one of Weisz's avid fans, and that it was really a great opportunity to personally meet her.

Calzado said that the Hollywood actress was very simple. “She looks so simple, and I could feel a certain kind of gentleness about her like, [the meeting] was very brief though. I really, really liked what I saw, what energy she gave off,” she said.

Sharing the short conversation she had with the Hollywood actress, Calzado said, “I just said, ‘Hi I’m an actress in the Philippines and I’d just like to say I’m a big fan of your work and I’m honored to be in your presence.’”

Sadly, Calzado said she wasn’t able to spend more time with the “Bourne Legacy” stars because she had other engagements that time.

source: ABS-CBN News

John Lloyd, Shaina are back together (Philippines)

 ABS-CBN's News Report,

 MANILA, Philippines - Actor John Lloyd Cruz revealed that he and actress Shaina Magdayao are officially back together.

In an exclusive interview with ABS-CBN’s “E-Live” on Saturday, Cruz confirmed the news that he and Magdayao are a couple again.

Image Credit: http://pinoyambisyoso.com

“Okay kami [ni Shaina]. Kami na ulit. Matagal-tagal na rin,” he revealed.

Asked how things are going on between them, Cruz replied, "Better than ever."

Late last year, Cruz said that he and Magdayao are trying to work things out after their emotional tell-all with King of Talk Boy Abunda.

He said they remained in touch amid their alleged split.

source: ABS-CBN News

Kareena Kapoor orders Rs 40 lakh royal necklace for wedding (India)

Kareena Kapoor has reportedly ordered a royal piece of jewellery worth around 40 lakh rupees for her wedding to Saif Ali Khan.

Image Credit:andhraheadlines.com

According to the reports, the neckpiece will be a full-dress set, implying that it would run from the neck to the waist.

These kinds of exclusive jewellery pieces are worn at royal weddings.

Apparently, a Rajkot-based Jeweller has been assigned the task to create this royal set for Kapoor.

Made with 400 gm gold, the necklace will have expensive gems studded on it, and will take nearly two months to make because of the craftsmanship and painstaking handwork involved.

Meanwhile, Saif is said to be planning to give a big diamond ring to his bride-to-be as the wedding gift.

source: Indian Express

Cloie Syquia Concepcion , KC’s Half-Sister, Enters Showbiz (Philippines)

Cloie Syquia Skarne, actor Gabby Concepcion's daughter with Jenny Syquia, has entered showbiz. She signed a contract with Viva Entertainment on Thursday.

Cloie, who now joins her dad, half-sister KC and the latter’s mom Sharon Cuneta in the Viva family, formally accepted a 3-year deal with Viva at its office in Pasig City on January 26, 2012.

Image Credit: Twitter.com

Reports say that Cloie is interested to have a modeling career. Her mother, who also signed a contract with Viva, reportedly said she wanted to try modeling since 14.

It is also possible that Cloie will record an album, which is covered by her contract as confirmed by Viva big boss Vic del Rosario and Viva Artists Agency head Veronique del Rosario to reporters.

The 17-year-old singer will use Cloie Concepcion as her official name in show business.

source: Cool Buster

TV review: Foodistan is a yummy watch (India)

"The new reality show promises to teach us about Indian and Pakistani cuisines through a cooking competition"

Siddharth Basu, the guy behind Kaun Banega Crorepati, has now come up with another reality show – Foodistan. The show aims to pit the best chefs from India against their counterparts from Pakistan, in an attempt to showcase the most remarkable dishes of the two nations’ cuisines. While the first episode introduced the contestants and the judges, the second and third episodes each saw two teams of four chefs cooking four dishes – curry, kebab, biriyani and a dessert. Acting as judges are actor and restaurateur Sonya Jehan (of My Name Is Khan fame), food critic Vir Sanghvi and British chef Merrilees Parker.

Image Credit: desi-radio.com

The commentary needs work – lines like “putting the kebabs in the sigdi” and “the chef that wins” instead of “the chef who wins” take away from the intensity of the show. The show is supposed to teach everything about authentic Pak and Indian cuisines but in the first three episodes, we haven’t really learnt anything about the uniqueness that differentiates the two.

Hold on, watching the show is not a waste of time. What we do learn is the importance of presentation; ‘plating’ a dish is as important as cooking it. It also has a lot to teach about teamwork as all the chefs come from different backgrounds and really haven’t worked together before. Foodistan will inspire you to get up from that couch, don an apron and create something new.

Foodistan airs Monday to Wednesdays at 9.30pm on NDTV Good Times

source: Bollywood Life

Traffic rerouting for 'Bourne' weekend shoot (Philippines)

ABS-CBN's News Report,

MANILA, Philippines – The Metropolitan Manila Development Authority (MMDA) has announced alternate routes for motorists following several road closures due to the filming of “The Bourne Legacy.”

The Hollywood film will shoot in major thoroughfares from Friday to Sunday.

MMDA said the outer lane of EDSA northbound from Taft Avenue to Tramo will be temporarily closed to traffic on Saturday to Sunday.

Image Credit: bournelegacymovie.com

Motorists passing this area may take the following alternate routes:

From Coastal Road and Airport area:

• Take Domestic Road, right turn from to Andrews, left turn to Tramo right to EDSA to point of destination.

From SM Mall of Asia to Makati EDSA:

• Left turn to Diosdado Macapagal, right turn to Buendia to point of destination.

From EDSA to SM Mall of Asia:

• Take Ayala Avenue all the way to Roxas Boulevard to point of destination.

From EDSA Makati to Cavite:

• Left turn to Tramo flyover, right Andrews Avenue, left Domestic right MIA Road then left to Coastal Road.

From Baclaran to Vito Cruz (along Taft Avenue):

• Left turn to Park Avenue, cross and left turn to EDSA, right turn to F. B. Harrison to point of destination.

From Vito Cruz to Baclaran (along Taft Avenue:

• Right turn to F. Sanchez, left turn to Park Avenue, right turn to EDSA to point of destination.

Temporary closed to traffic on Friday from 5 a.m. to 12 noon are Zamora from EDSA to Protacio and the outer-lane of EDSA southbound from Tramo to Taft Avenue.

Motorists are advised to take a right turn to Tramo, left turn to Celeridad, right turn to Zamora to point of destination or right turn to Taft Avenue, right turn to Protacio, left turn to Zamora to point of destination.

Tramo in front of Five Star Bus Terminal will also be closed for Friday to Saturday.

Motorists are advised to take a right turn at St. Agustin, straight ahead to C. Jose, right turn to EDSA to point of destination or right turn to Edang, right turn to EDSA, to point of destination.

source: ABS-CBN News

Google doodle celebrates 63rd Republic Day (India)

 Times of India's News Report,

 

NEW DELHI: As India celebrates its 63rd Republic Day on Thursday, popular search engine Google dedicated its latest doodle to this theme.

Internet users can see images of elephants and tri-coloured umbrellas decorating the word 'google' in the latest doodle. Three charming and joyful elephants denote the health of Indian culture and Indian economy. All three umbrellas contain saffron, white and green colour on them that gives the look and feel of the Indian flag. The 'O' of Google appear like the Ashoka's wheel.

Image Credit: mostviralmedia.com

Google regularly presents to the users colourful doodles to observe birth anniversaries of important personalities and significant dates. The Republic Day of India marks the anniversary of the adoption of the Constitution of India. 

 

 

source: Times of India