Exciting news! We would like to inform everyone that we have successfully signed the definitive agreements last October 25, 2012 in Australia with Melco Crown Group lead by Lawrence Ho of Macau and James Packer of Australia for the development and operation of our US$ 1Billion Integrated Resort.
MANILA, Philippines - The Sy group has formally entered into an agreement with casino billionaires James Packer and Lawrence Ho for a US$1-billion gaming venture in Manila .
In a disclosure to the Philippine Stock Exchange, Sy-led Belle Corp. said it and its wholly owned subsidiary, PremiumLeisure and Amusement Inc., signed a cooperation agreement with Melco Crown Entertainment for the development of a casino and entertainment resort within the 120-hectare Entertainment City .
"A recent GlobalEnglish study found that of the world’s top 30 countries by size of labour force, the Philippines topped the chart for workers’ fluency in English, above India and, more alarmingly, the UK."
For many years India was the default offshoring destination for UK businesses, and while it still retains the number one spot today, the cost savings it offers are no longer as attractive as they once were.
New pins are popping up on the global offshoring map with several emerging locations now offering the right mix of skills and infrastructure to challenge Indian dominance. This competition can only be good for companies looking to offshore and their customers; it’s driving improvements in quality while keeping costs low.
While cost will inevitably remain the primary motivation to offshore, smart companies are scouring the market for the best options in terms of both quality and value for money. They are also taking into account the ease of doing business in the different locations. Infrastructure is a key consideration, specifically sufficient internet bandwidth and a reliable power supply, supported by contextual factors such as the level of governmental support offered to overseas investors within a given territory, political stability, security and air links from the UK.
Any emerging nation capable of combining these elements with a large, university educated and English-speaking workforce should be on the radar of those looking to offshore.
In today’s shrinking world that leaves a long list of options, so to consider what really differentiates the best locations from the rest, businesses need to analyse which destinations provide greater commonalities with their own organisation and customers. Cultural or language barriers, for instance, can be a disaster for effective customer service and engagement.
This is what made India such an attractive location to many English-speaking firms and why nations like the Philippines are now climbing the ranks. US-based companies have long-established offshore links with the islands, particularly due to cultural and social similarities, as well as employees’ neutral accents, and now many British businesses are taking advantage, too. A recent GlobalEnglish study found that of the world’s top 30 countries by size of labour force, the Philippines topped the chart for workers’ fluency in English, above India and, more alarmingly, the UK.
By Richard Javad Heydarian
Foreign affairs analyst, www.huffingtonpost.com
The new darlings of international finance include countries such as Turkey, Indonesia, and the Philippines. While the two Muslim nations are well on their way to join the elite group of trillion-dollar economies, the Philippines is relishing a strong economic momentum.
As emerging economic giants of Brazil, Russia, China, and India whimper, global investors are increasingly enthralled by the bang of more compact, democratic and dynamic economies. A combination of robust domestic spending, macroeconomic buoyancy, and labor-market flexibility has more than compensated for their smaller size. The new darlings of international finance include countries such as Turkey, Indonesia, and the Philippines. While the two Muslim nations are well on their way to join the elite group of trillion-dollar economies, the Philippines is relishing a strong economic momentum.
Join us on a fun-filled adventure at the captain's quarters!
November 1 - 4, 2012
10AM - 4PM
Verandas Model Unit, Tagaytay Highlands
For inquiries/private tours:
“At full development, Entertainment City is expected to have the capacity to deliver up to US$10 billion annually in gaming revenues, as well as generate over 400,000 direct and indirect jobs. We are highly enthusiastic about this project and the impact that it will have on Philippine tourism,” - Naguiat, Pagcor
MANILA, Philippines –The Philippine Amusement and Gaming Corp (Pagcor) assured that local players will be allowed to play in its Entertainment City, which is expected to start its operations in 2016.
“We cannot prevent them from going there. We do not want to deprive them of the chance to see and experience the world-class entertainment that the IRs [Integrated Resorts] will provide,” Pagcor chairman Cristino Naguiat said in a statement issued on Wednesday.
“However, we will make sure that regulation will be in place,” he said.
Four IRs are being built by Pagcor together with four private proponents in the 100-hectare Entertainment City project. It is expected to generate $10 billion in annual revenues.
Renowned investor Mark Mobius, of Templeton Emerging Markets, has poured billions of dollars into developing countries around Asia through his emerging markets funds.
He told the BBC's Leisha Chi that there are lucrative opportunities should peace prevail in the Philippines.
Original article: http://www.bbc.co.uk/news/business-19944150
BANGKOK (AP) -- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. Both are better known for troubled politics and natural disasters, but have outshone higher-octane neighbors as new leaders nurture relative calm.
The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent. By contrast, an index compiled by MSCI that tracks stocks in 12 Asian countries is up a ho-hum 2 percent. The Shanghai Composite Index in rising power China has sunk nearly 14 percent.
The Philippines, long regarded as an economic backwater blighted by a succession of deeply corrupt governments, has gained a measure of credibility due to the stability ushered in by the 2010 election of President Benigno Aquino III. Analysts credit him with boosting investor confidence by cracking down on corruption and living up to his promises of openness and good governance.
"For investors looking for a smaller economy that has been overlooked, the island nation of the Philippines could be worth a closer look. The country has a $350 billion economy which means that it is larger than Switzerland, Hong Kong, or Singapore. "
For many investors, the development of ETFs has been instrumental in gaining exposure to quickly growing emerging markets. These funds have allowed many to put assets to work in a variety of countries cheaply and easily, greatly diversifying portfolios from a geographic perspective in the process.
In order to gain this exposure, many investors have flooded into just a few ETFs in the space as these funds control nearly all the assets in the emerging market ETF world. In fact, two ETFs, VWO and EEM—which both track the MSCI Emerging Markets Index—account for a whopping $80 billion of assets in the space, far and away the leaders in the emerging market sector.
MANILA, Philippines - Voting 195-6, the House of Representatives on Monday, October 15, voted on third and final reading government's P2.006-trillion budget for 2013.
House committee on appropriations chairman Cavite Rep Joseph Emilio "Jun" Abaya said they hardly touched the budget submitted by Malacañang in July. The same version, House Bill 6455, breezed through 2nd reading last month.
It's passage on 3rd and final reading was also breeze.The House leadership earlier created a committee that received proposed amendments from House members.
Out of the 6 representatives who voted against the budget bill, only one curiously came from the opposition party Lakas-Christian Muslim Democrats - Siquijor Rep Orlando Fua.