Philippine Asian News Today Vol 20 No 20 | Page 12
BUSINESS NEWS
12
PHILIPPINE ASIAN NEWS TODAY October 16 - 31, 2018
PH economy likely grew in Q3 on investments, exports’
ROBUST private and public
spending, as well as increased
exports, likely caused the Philippine
economy to rise by more than
6 percent in the third quarter of
2018, First Metro Investment
Corp. (FMIC) and the University of
Asia and the Pacific (UA&P) said in
a joint report on Tuesday.
In its latest issue of “The Market
Call,” FMIC and UA&P said the
“economy likely expanded faster in
Q3 (third quarter) than the 6 percent
posted for Q2 (second quarter),
as red-hot investment spending
and robust manufacturing sector
stepped up on the accelerator.”
The “country’s investment-led
story remains solid” as imports of
capital goods rose by 39 percent
year-on-year in July, much faster
than June’s 30-percent expansion,
it added.
The report’s authors also
suggested
that
government
spending “added fuel to growth”
with a 28.7-percent uptick in August,
likely driven by infrastructure and
capital outlays, which grew by 70.5
percent in the month.
“We have indicated our view
that growth in Q3 will be supported
by strong investments, especially
with the [Duterte] administration’s
unrelenting effort to push for faster
completion and faster delivery of
the ‘Build Build Build’ projects
they have lined up,” they added,
referring to the government’s
massive infrastructure program.
FMIC and UA&P, meanwhile,
underscored a “more robust”
growth in exports in the third
quarter.
They emphasized that the
Philippines’ export performance
bucked the previous lackluster
trend, recording its second monthly
gain at the start of the quarter.
Exports increased by 0.3
percent year-on-year to $5.8 billion
in July, following the 2.8 percent
gain in June. Outbound shipments
declined from January until May.
GDP growth fell below
expectations in the second
quarter at 6.0 percent, bringing
first-half expansion to an average
of 6.3 percent, lower than the
government’s revised 6.5-6.9
percent target. (M.U. Caraballo,
TMT)
Philippines 1st low-cost carrier terminal to rise in Clark
The Philippines expects its first
low cost carrier terminal (LCCT) to
rise in Clark by 2020, which could
attract more services from existing
and new foreign budget carriers.
In its latest analysis, aviation
think tank CAPA Center for Avia-
tion said the new terminal being
constructed at Clark would likely
become the country’s first LCCT.
“Construction of a second ter-
minal is underway at Clark Interna-
tional Airport outside Manila. The
terminal will likely become the first
LCCT in the Philippines when it
opens in 2020,” CAPA said.
“Developing the second new
terminal as an LCCT is sensible,
given that LCCs will likely account
for at least 60 percent of Clark’s
traffic in future. The existing ter-
minal should be large enough to
accommodate full service airlines
– even if FSC traffic at Clark tri-
ples,” it added.
Full service carriers (FSC) cur-
rently account for approximately
1.2 million annual passengers at
Clark, according to the aviation
think tank.
Meanwhile, LCCs account for
51 percent of total seat capacity in
the Philippines, and LCC penetra-
tion rate at Clark alone stands at
50 percent.
CAPA said the LCC penetration
rate at Clark would likely exceed
60 percent by the time an LCCT
opens because both Philippine
LCCs – Cebu Pacific and Philip-
pines AirAsia – are planning to ex-
pand in Clark.
“The opening of the LCCT
in 2020 would drive further LCC
growth at Clark as it will provide
lower fees and charges,” it said.
“Clark’s large and growing do-
mestic network should help attract
more foreign airlines – both low
cost and full service. Long haul
low cost services particularly need
feeder, which Clark is now able to
offer. The opening of the LCCT
could lead to more services from
the existing foreign LCCs and the
launch of services from several
new foreign LCCs, including long
haul LCCs,” CAPA added.
The tandem of Megawide Con-
struction Corp. and GMR Infra-
structure Ltd. of India is undertak-
ing the construction of the new
terminal building after it bagged
the engineering, procurement and
construction contract in Decem-
ber last year.
The new terminal is expected
to accommodate up to eight mil-
lion passengers per year, increas-
ing Clark Airport’s capacity to 12
million passengers per annum by
2020 from four million at present.
(R. Mercurio, PS)
Canadian Immigrant Fair helps immigrants get job-ready in Vancouver
Internationally
trained
professionals, other newcomers,
international students and
temporary workers welcome!
Vancouver, B.C. – In Metro
Vancouver, 25,000 immigrants
landed between January and
August 2018, according to data
from
Immigrant,
Refugees,
Citizenship Canada. That’s the
majority of the 32,000 who landed
in the entire province of B.C. during
that time period.
And many more thousands
come on temporary work permits,
as refugees or as international
students in hopes of staying
permanently one day. Some may
be fleeing war, while others are
seeking new opportunities and
a better life. But they all have
one thing in common: they need
information after they arrive to help
them in their immigration journey.
That’s where the Canadian
Immigrant Fair, presented by
Canadian Immigrant magazine
in association with Public Mobile,
comes in.
Held at Vancouver Convention
Centre
East
(999
Canada
Place), steps from Waterfront
Skytrain Station, this tradeshow
and speakers’ series for skilled
immigrants, newcomers, students
and temporary residents is all
about providing the information
and inspiration people need as they
look for jobs, go back to school
and settle into their new home.
“Settling into a new country
is both exciting and challenging,
particularly when also trying to
secure employment. To that end,
we are thrilled to provide resources
to assist with the challenges of
today’s job market through free
professional photos. We look
forward to participating in this
cross-country fair and connecting
with new members of our
community,” says David MacLean,
Director of Public Mobile.
“Metro Vancouver is obviously a
destination of choice, but it can also
be a challenging place, given the
issues of affordability and housing
costs,” says Sanjay Agnihotri, group
publisher of Canadian Immigrant,
a national magazine, website and
events producer. “Immigrants are
coming to Canada, and it’s our
responsibility to welcome them,
and help them settle in and find
success. Through the Canadian
Immigrant Fair, we offer information
on the three pillars of success after
immigrating to Canada: careers,
education and settlement.”
The free fair will feature a
tradeshow of diverse exhibitors,
including
career
advisors,
education institutes and social
service agencies, plus several hiring
companies including: Westjet,
Bayshore Home Health, Costco
Wholesale, the Universal Group,
Fresh Point, Sunrise Soya Foods,
FPS Food Process Solutions, the
Brick, Stongs Markets LP and
McDonald’s Restaurants.
It’s a great opportunity for
newcomers to get job-ready with
helpful resources such as free
one-on-one advice at our Resumé
Clinic, run in partnership with
MOSAIC immigrant settlement
agency, and associate sponsor
Public Mobile will be offering a free
photo booth to take professional
WWW.PHILIPPINEASIANNEWSTODAY.COM
LinkedIn photos onsite.
The event’s popular speakers’
series includes an English
pronunciation class by Catherine
Steele, motivational workshops on
succeeding in Canada by two RBC
Top 25 Canadian Immigrants,
Iman Aghay and Miroslav Reljic,
plus a session on making the most
of a job fair with Pacific Community
Resources Society’s Alexander
Bell.
Temporary residents and PRs
looking to become citizens can
also seek advice on the English
testing requirements at the CELPIP
English test workshop. They can
also get advice from immigration
consultants and lawyers at the fair.
Registration for the free
fair
is
available
at
www.
canadianimmigrant.ca/careerfair/
vancouver.
Register before November 12th
for your chance to win a year of pre-
paid service with Public Mobile on
Canada’s largest mobile network.
Learn
more
at
www.
canadianimmigrant.ca/careerfair.