A Banner Year for the Philippines...

Miss World – Megan Young

Megan Young, our representative to the Miss World beauty pageant held in Indonesia was recently crowned as Miss World 2013. This is the first time that a Filipina won this event. After 62 years of excruciating agony hoping to hold that magic wand, sit in the golden chair, and wear that diamond crusted crown, we can finally say “Yes, we did it!” Or should we say, Megan Young did it for us.  

photo by Murdani Usman, Reuters

Her hard work, sacrifice and passion carried us on to win the event. Once again, we are beaming with pride and honor. Before the pageant, she posted on her official Miss World - Philippines Facebook account, “Sa aking mga kababayan, huwag kayong mawalan ng pag-asa. May bukas pa at may laban pa tayo. Taas noo tayong lalaban pero tayo’y magpakumbaba pag dating sa ating mga salita. Buong puso ko at puso niyo ang lumalaban dito. Itong laban na ito ay para sa ating lahat. Sana makapagbigay inspirasyon ako sa lahat ng Pilipino katulad rin ng aking mga iniidolo na lumaban para sa bansa. Laban, Pilipinas.” Yes, Megan. Your fight is our fight. Your battle is our battle. Together, as one united Filipinos, you as our representative and we as your avid supporters with undying fervor to support you, we can overcome the hurdles and challenges in the international competition.

More importantly, the win mirrors the resiliency of the Filipinos who in spite of their struggles continues to endeavor to be triumphant and victorious in the game of life.

To Megan Young, thank you for bringing honor and pride to our country. You did inspire all of us. Kay sarap maging Pilipino, taas noo kahit kanino.  

Source: Rappler

2^nd Place, FIBA Asia 2013

The victory of Smart Gilas over South Korea is still fresh in my memory. The fearless drives of Jason Castro, the clutch three point shots of Jimmy Alapag and jumpers of Ranidel, the hustle of Marc Pingris and the passion of the Filipinos.

I watched the encounter through streaming videos. It’s a little bit blurred but enough to see the action and recognize the players. Besides, this is a game where we can take off the monkey on our back and reassert ourselves in the world basketball. It’s about damn time that we should beat this pesky and sweet shooting Koreans. With 20,000 plus screaming fans supporting our players inside the Mall of Asia , the family’s moral support, and the 90 million plus rooting and praying to beat the Koreans, this is the best opportunity to finally exorcise the demons against the Koreans.

photo credit: FIBA Asia/Nuki Sabio

Korea was ahead 28-23 when Douthit got injured halfway through the second quarter. Wow, can you believe that? Our main man in the middle was gone! I felt right there that our chances of winning got diminished.

But the players never gave up. Who could forget the daredevil drives of Jason Castro in the opening of third quarter? He is one of the smallest on the court and yet he stands tall amongst them. Ping muscled his way under the rim against taller Koreans to rebound, defend and score. At the end of 3^rd quarter, we’re up by 9 points.

And then it happened. With over four minutes remaining, that Korean player with a tomahawk hairstyle (Lee Seung-Jun) dunked the ball to give the Koreans a one point lead. Oh boy, here we are again! Those demons just won’t go away. Those heartbreaking losses resurfaced again in my head. No, this ain’t happening!

Less than a minute to go, Philippines is up by two.  Jimmy dribbled his way to the left side and shot a three, a form we are too familiar watching in PBA. He nailed it and we’re up by five points. The ensuing play is a blocked of Norwood against a Korean shooter. As the final seconds ticked away, people start hugging one another as tears flows. Coach Chot sobs at the sidelines, some players jumped in joy; others knelt down savoring the liberation of winning against South Korea.

The historical importance of the win cannot be overemphasized. For decades, we are the kings of Asia. From 1936 to 1972, we represented Asia in Olympic basketball except for one. Since then, we’ve never been in the world.

We’ve never beaten South Korea in international competition since 1985, a 28 long years of fruitless endeavor. As a hoops mad nation, getting over the hump is a welcome relief everyone relishes. Heartbreaks includes 2011 FIBA Asia Championship, 2010 Asian Games, 2009 FIBA Asia Championship, 2002 Asian Games, 1998 Asian Games, 1987 Asian Basketball Confederation Championship, and 1986 Asian Games.

Source: Grantland,GMA News and Interaksyon

Miss Supranational – Mutya Datul

Okay, I know this title is not as popular and prominent as the other three beauty pageants, Miss World, Miss Universe and Miss International but then again when you bested 82 other beauties from different nationalities, it’s something to be proud of.

Never heard or seen her? Here is a glimpse of her beauty. Ganda talaga ng lahi natin ano po? :-) 

photos c/o Raymond Saldana.

Source: Rappler

GDP, best in Asia

Philippines 2^nd quarter 2013 GDP grew by 7.5%. Several highlights on this glowing numbers are:

Source:NSCB

a.    It beat the analysts median forecast of 7.2%.

b.    This is the 4^th consecutive quarter that the GDP expanded by at least 7%.

c.    The highest among ASEAN nations.

d.    It matched China’s GDP, highest in Asia.

e.    The composition of the growth points towards the process of rebalancing; from being a consumption led economy to investment-led and industrialized.

It wasn’t too long ago when Philippines was tagged as the “sick man” of Asia. Today, analysts and investors alike are singing a different tune. Philippines is Asia’s newest bright spot. Philippines is Asia’s Rising Economic Star. The strong man of Asia. Philippines is the investors’ darling in Asia, its economy shines amid a backdrop of slower growth in the global economy. 

HSBC predicted Philippines to become the 16^th largest economy by 2050 with an average growth of 7% until 2050.

Source: NEDA, Inquirer

PSE, 3^rd Best Performing Stock Market

Paris-based World Federation of Exchanges (WFE) recognized Philippine Stock Exchange as the 3^rd best performing stock for the year 2012. It follows Turkey and Thailand respectively.

The PSE was recognized after it gained 38.9% in market capitalization. The value turnover increased by 25.3% in 2012, 3^rd best in the world. PSE landed fourth in the expansion of number of trades while it registered fifth highest increase in broader market index.

In 2012, our PSEi recorded 33% gain, enough to land the 10^th spot lead by Venezuela’s Index which increased by a whopping 303%.

In 2013, the PSEi still fairs well among the best performing stock market as it gains 20% as of Apr 2013 to land at fifth spot, this time lead by Japan with a gain of 34% year to date.

Source: GMA News, Business Insider, Rediff

Interest Rates at Historic Low

Current interest rate is at 3.5%, the lowest rate in history since data were compiled.

Recently, Bangko Sentral ng Pilipinas kept the interest rate at 3.5% to support GDP growth.

The interest rate refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate.

Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.

Source: BSP,Trading Economics, Bloomberg

Now, A Lender to IMF

For 45 long years, we are an IMF borrower. In 2006, we were able to pay our obligations. This year, we are extending a $1 billion loan to IMF.

We’ve been the recipient of these IMF loans before, it’s time that we turn back the favor and help struggling countries.

Our GIR is at historic levels as dollars from OFWs and BPOs sector increase the net dollar inflow of our country.

First Ever Investment Grade

Philippines never achieved an Investment Grade from the three major credit agencies. Moody’s and S&P started covering Philippines in 1993 while Fitch in 1999. Since these three major credit agencies started covering Philippines credit, we’d never passed the speculative grade. The highest grade we got was a notch below the investment grade.

Until 2013 came. Last March this year, Fitch gave Philippines its first ever investment grade rating. S&P followed suit in May. Moody’s team is expected to follow suit.

Source:Philstar

An investment grade rating would lower debt interest payments, open more credit avenues, and give the country more foreign investments.

Source:SEPO, PhilStar