1. Malaysia seeks trade ventures

MANILA, Philippines--Philippine and Malaysian retail outlets are expected to be put up in the major cities of the two countries as a result of the efforts of a Malaysian mission.

The 20-member mission, led by Malaysian Entrepreneur and Economic Development (MECD) Minister Yang Berhormat Dato Noh Bin Omar, is pursuing joint franchise ventures as a way of strengthening diplomatic and economic ties between the two countries.

The MECD has put up a Malaysia Pavilion at the 3-day Franchise Expo 2008 going on at the SMX Convention Center in Pasay City, with Omar and Trade Secretary Peter Favila doing the opening honors.

The exhibits of franchise brands may be viewed at the expo up to early evening Sunday.

14/07/2008 | 1231 Hits

2. DBCC asked to review declining ratios to GDP

Government budget and finance officials’ initial figures show that the ratios of revenues and expenditures vis-à-vis gross domestic product (GDP) are on the decline for 2008 and 2009.

This is why Finance Secretary Margarito B. Teves, who in a meeting with the inter-agency Development Budget Coordinating Committee (DBCC) on Monday, asked officials to again review the numbers. Based on emerging figures, the government will be collecting higher revenues for the year to plug a portion of the budget deficit.

10/07/2008 | 912 Hits

3. BSP may raise overnight rate to 6.5%

The Union Bank of Switzerland (UBS) expects the Bangko Sentral ng Pilipinas (BSP) to raise its overnight borrowing rate to as much as 6.50 percent this year from the current rate of 5.25 percent.

The latest projection was revised from an earlier 2008 forecast of  5.75 percent as UBS took into account skyrocketing inflation and investors’ perception that monetary policy remains too loose.

“With inflation continuing to surprise on the upside and inflation expectations rising faster than we anticipated, we now judge that more monetary tightening will be needed to stabilize inflation expectations, raise real interest rates and halt the peso’s decline,” UBS said in its latest report on the Philippines.

10/07/2008 | 391 Hits

4. JFC eyes 10,000 stores abroad by 2020

Jollibee Foods Corp., the country’s number one homegrown fastfood chain, is eyeing the establishment of 10,000 stores globally including its acquired other brands by 2020 largely through franchising.

Ernesto Tanmantiong, president of the publicly-listed JFC, revealed this in a keynote speech at the 16th Philippine International Franchise Conference saying this target supports the company’s vision to become the largest food company in the world.

"We will be as well known as any other brand in the world, the best quick service restaurant and the most endearing brand that has even been," Tanmantiong said.

10/07/2008 | 871 Hits

5. Travel Café Philippines

A Japanese franchise acquired by the Department of Tourism, this café at Greenbelt 5 reflects global dining influences.

Philippe Bartholomi, GM of Friday’s Resort in Boracay, explains that to the upscale traveler, eating Filipino food with its hearty food chunks, fine bones and drippy sauces can be awkward. The restaurant uses the French tradition in preparation and presentation coupled with the meticulous attention to detail and delicate servings of Japanese cuisine. However, the taste is still authentic.

For instance, the simple Filipino hot chocolate is served on a tall ceramic mug.

As in a ritual, you gingerly pour the chocolate on a demitasse cup. It is accompanied by a little round pan de sal.

27/06/2008 | 1088 Hits

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