Smartphone app allows non-profit in India to feed the hungry

MANILA - India has the most number of people going hungry, Ankit Kawatra, the founder of non-profit group "Feeding India" said on Tuesday in an interview with ANC's Cathy Yang.

Kawatra however, noticed that there was a lot of food getting wasted in feasts and in restaurants.

He set out to help solve India's hunger problem by providing free meals through volunteers and donation centers.

Restaurants and individuals can use Feeding India's smartphone app to sign up to donate food, which is collected and distributed to people in need.

"I'd rather use my skills to solve a problem like hunger rather than just making money for myself all the time," Kawatra said on the sidelines of Forbes Under 30 Summit Asia.

source: news.abs-cbn.com

Digital marketing means immersive experiences, says DJ and entrepreneur

MANILA - A digital marketing agency needs to go beyond simply being online, according to DJ and entrepreneur Mikhail Schemm.

Mixing tangible experiences with online can create dramatic results, Schemm said in an interview with ANC's Cathy Yang on Tuesday on the sidelines of the "Forbes Under 30 Summit Asia".


Schemm, who is the co-founder and managing director of digital marketing agency "Third Culture Music + Media" narrated about how he combined sound, motion sensors, and huge LCD screens to create an immersive experience for people who then enthusiastically shared this on social media.

He said digital marketing is all about pushing the boundaries of what is possible through technology and creativity.

source: news.abs-cbn.com

Fed rate hike unlikely this month, analyst says

MANILA - The US Federal Reserve is unlikely to raise interest rates in its next policy meeting on September 21, an analyst said Monday.

"There is still no consensus that they will raise interest rates come September 21, but the mere prospect of higher interest rates seems to be spooking the markets," Nicky Franco, head of research at Abacus Securities, told ANC's "Market Edge with Cathy Yang."

Strong job growth in August, however, is one of the factors that may push the Federal Reserve to increase interest rates this year, Franco said.

The banking sector is seen to gain from higher interest rates, he added.

source: www.abs-cbnnews.com

Global shift to equities from bonds powers market rally

MANILA – Investors shifting to equities from bonds are fueling the rally in the local stock market, an analyst said Wednesday.

The Philippine Stock Exchange Index opened at 8,034.76 points from Tuesday’s close of 8,036. It is expected to test 8,100 points, said BPI Trade CEO Mike Oyson.

“It’s about the global liquidity,” Oyson told ANC’s “Market Edge with Cathy Yang.”

With bond yields falling, “stocks now are what you call the yield instruments,” he said.

The recent strength of Southeast Asian markets show the region has become a “basket” for funds flowing out of developed markets, he said.

source: www.abs-cbnnews.com

Stock picks: Ayala Land, EastWest Bank

MANILA – COL Financial vice president for research April Lee Tan on Monday recommended buying Ayala Land Inc. and EastWest Banking Corp. shares.

Ayala Land, Tan said, would likely benefit from demand for residential space and hotel rooms as President Rodrigo Duterte moves to spread development outside the capital.

EastWest Bank shares are “very cheap” and the lender’s strategy to focus on the retail segment, where margins are higher compared to corporate banking, could pay off, Tan told ANC’s “Market Edge with Cathy Yang.”

source: www.abs-cbnnews.com

Steve Forbes sees more billionaires emerging from Philippines

MANILA – Expect more billionaires to come from the Philippines in the coming years.

Steve Forbes, chairman and editor-in-chief of Forbes Media, said that as the Philippine economy continues its growth, the country will produce more Filipino billionaires.

“As the economy prospers, yes. But the key thing is incomes across the board in this country will continue to rise, and that will show the world that this will be a model. You can have a good political system and good economic growth and I think that model is badly needed these days,” Forbes told ANC's Cathy Yang in an exclusive interview at the sidelines of the 15th Forbes Global CEO Conference on Monday.

The prestigious conference is being held in the Philippines for the first time, bringing together some of the world's wealthiest entrepreneurs.

"It’s a very appropriate one...The Philippines is a tiger now in terms of Asian economies. Other economies around the world seem to be slowing down, getting in trouble. Philippines still has a full head of steam and looks like you’re going to continue that in the future, so we want to be where the action is,” said Forbes.

Forbes said the Philippines will continue to experience growth due to reforms, which he also expects to continue despite a change in government next year.

Currently, the richest billionaires in the Philippines have a combined net worth of nearly $50 billion (P2.3 trillion).

In the latest Forbes' 50 richest Filipinos list, 17 entrepreneurs from the Philippines breached the $1 billion-mark. SM's Henry Sy is the country's richest man with a net worth of $14.4 billion.

For its latest global rich list, Forbes listed a record 1,826 billionaires, including 11 well-known tycoons from the Philippines and one young Filipino-American tech entrepreneur.

'SLASH TAXES'

Forbes will be having a one-on-one meeting with President Aquino on Wednesday, and he said he will be saying one thing to the President: slash taxes.

Forbes believes that the country's tax system needs improvement, stressing that government has room to lower corporate and income tax rates without risking losing revenues.

“That’s how you get a vibrant economy. Everyone comes out ahead. When you have a bigger economy, a more vibrant economy, you get more revenues, so the government does well. But key thing is that people do well, the economy does well,” he said, noting that a simplified tax system is one way to get more revenues.

"When you make it easy to collect, and have a low rate where people don’t have to focus on trying to avoid it, good things happen,” he added.

The Philippines has the highest income tax rate in the ASEAN region with the personal income tax at 32 percent.

source: www.abs-cbnnews.com