September 16 - 30 , 2016 PHILIPPINE ASIAN NEWS TODAY BUSINESS NEWS B5
Partnership up for content platform for iWant TV
Leading telco and digital services provider PLDT has forged key alliances with Internet TV firm Roku , Inc ., global Internet television network Netflix , e-commerce giant Amazon , and ABS-CBN Corporation ’ s over-thetop ( OTT ) content platform iWant TV . With these
Ayala Land Inc . and SM Prime Holdings Inc . have agreed to build a common rail station between their two giant malls in Quezon City , breaking a sevenyear deadlock .
The International Monetary Fund ( IMF ) has revised upwards its growth projections for the Philippines this year and next year due to strong domestic output in the first half of 2016 brought largely by robust expansion in consumption and investments .
In a statement issued after the conclusion of the lender ’ s Article IV consultation with the Philippines , IMF hiked to 6.4 percent its 2016 growth projection for the country while the 2017 figure was upped to 6.7 percent .
These were previously at six percent for 2016 and 6.2 percent for next year .
The lender said its outlook on the economy “ remains favorable despite external headwinds .”
PLDT , SMART PARTNER WITH ABS-CBN ’ s iWant TV – Philippine Long Distance Telephone ( PLDT ) Company Chairman and CEO Manuel V . Pangilinan ( left ) and ABS-CBN Chairman Eugenio Lopez III lead the signing of agreement forging a partnership to provide access to the industry-leading videoon-demand platform iWantTV . ( Regie D . Mason ) global heavyweights , PLDT ’ s consumer business unit PLDT HOME is bringing the Smart Home suite of services to Filipino families with a string of partnerships with leaders in retail and entertainment .
“ This is a new era in digital as we make Filipino homes stronger , safer , more comfortable and more enjoyable via PLDT ’ s Smart Home which has powerful connectivity and an integrated suite of innovative , reliable and familyfriendly products and services ,” said PLDT First Vice President and Head of Home Operations Oscar A . Reyes Jr .
He added that , “ this is made possible with several local and global partnerships that we entered into recently which are aimed at enhancing and enriching the lives of millions of digitally connected Filipinos powered by PLDT Home and Smart Communications for mobile services .”
Reyes noted that , “ PLDT ’ s Smart Home is a home where digital innovations advance the security , safety , convenience and entertainment experiences at home and beyond . It is a home where communication and connection are made easier by digital technology .”
The partnership with Amazon will soon open the door for Filipino book lovers to enjoy the popular Kindle e-book reader while the Roku streaming platform allows users to easily stream their favorite TV shows and movies on their TV screens .
It is the streaming platform with the highest engagement in the US because of its diverse
The structure , which will be constructed between SM North Edsa and Trinoma Mall , will connect the Metro Rail Transit 3 with the Light Rail Transit 1 and the content offerings and user-friendly interface . Roku ’ s partnership with PLDT is its first streaming deal in Asia .
With Netflix , users can watch today ’ s top original Netflix series while iWant TV lets users stream their favorite ABS-CBN shows , both past and presently airing . News and current affairs shows are also available for streaming on iWant TV .
ABS-CBN President and CEO Carlo Katigbak said “ the strategic partnership between ABS-CBN and PLDT underscores our vision to make our content available online to more Filipinos .”
Launched in 2007 , iWant TV is the leading source of local content online with over 6 million subscribers and an average of 27 million monthly page views on the website and 16 million screen views on the iOS and android iWant TV app . ( J . Loyola , mb )
soon to be built MRT-7 .
The two companies will sign an agreement for the common station on Wednesday with the transportation and public
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Ayala , SM agree on LRT-MRT common station
In the first half this year , the domestic economy grew , as measured by gross domestic product ( GDP ), by 6.9 percent , driven by strong investment and consumption , which countered the weak demand from its trading partners .
Inflation remained benign , with the average in the first eight months this year at 1.5 percent , below the government ’ s two to four percent target for 2015-18 , due mainly to lower oil and food prices .
IMF also noted the drop in unemployment rate to 6.3 percent of GDP in 2015 and to six percent in the first of this year .
It said the country ’ s external position remained robust last year , resulting in a current works departments .
SM took government to court after the transportation department moved the common station from SM North to Trinoma .
IMF hikes growth forecasts for Philippines for ’ 16 , ‘ 17
account surplus equivalent to about 2.9 percent of GDP and foreign exchange reserves hitting $ 80.67 billion , which has a cover of 10.3 months ’ worth of imports of goods and payments of services and income .
“ Risks to the outlook are titled to the downside ,” it said , citing its expectations for the current government to be able to respond to challenges “ with suitable policies ” because of the country ’ s strong fundamentals and amply policy space .
The lender lauded the government for sustaining the strong macroeconomic management but noted that “ favorable macroeconomic performance had not led to corresponding improvements in poverty reduction , inequality , and unemployment .”
It said the Duterte administration “ has an opportunity to put the economy on a higher and more equitable growth path .”
“ Directors encouraged efforts to increase investments in infrastructure and human capital , improve target of social spending , enhance competitiveness and foreign direct investment , and making the financial system deeper and more inclusive ,” it said .
The current government ’ s plan to increase the government deficit target to three percent of domestic output starting in 2017 compared to the two percent in the past administration got the support of the IMF , which cited that this will hinge on the stable
The signing of the agreement will pave the way for the lifting of a Supreme Court order that stopped the construction of the facility .( J . Manabat , abs-cbn )
public debt to GDP ratio .
IMF said the higher deficit will fund additional infrastructure and social spending and is not seen to erode fiscal stability .
The IMF said legislative measures that would give the central bank authority to issue bills and increase its capitalization were encouraged .
“ Directors also welcomed the focus on financial deepening and inclusion as essential elements of the authorities ’ inclusive growth strategy . They emphasized the importance of strengthening the AML ( antimoney laundering ) framework , including to make tax evasion a predicate crime ,” it added .( J . Santiago , PNA / Interaksyon )