LYCOS RETRIEVER 
Philippines
built 644 days ago
The Philippines is the world's second largest producer of geothermal power, with an available capacity of 1,909 MW. The government would like to add roughly another 1,200 MW, which would exceed current U.S. geothermal capacity. Geothermal power currently makes up around 16 percent of the Philippines' installed power generation capacity, most of which has been developed by the PNOC - Energy Development Corporation (PNOC-EDC). Privatization of PNOC-EDC is planned, though as with other generation assets, the process has progressed much slower than originally planned. Kyushu Electric company is in a joint venture with PNOC-EDC to develop a 40-MW geothermal plant in Sorsogon, Albay province, and Marubeni of Japan has expressed its intent to build the 100-MW Cabalian geothermal plant in Leyte. California Energy's Philippine unit is working with PNOC to develop three new geothermal power plants in Leyte, producing a total of 540 MW of electricity.
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Cagayan of the Philippines is Cagayan Economic Zone Authority's (CEZA) duly appointed Master Licensor for Internet gaming operations. First Cagayan, on behalf of CEZA, processes applications from and, upon approval, issues licenses to international operators seeking to locate within CSEZFP. As Master Licensor, First Cagayan ... regulates and monitors all Internet gaming related activities to ensure compliance with established rules and regulations governing operations. According to information from CEZA, interactive gaming licenses issued by Asia's first and only Internet gaming jurisdiction now totals 43, which is 14 more than the last count of 29 in 2006. First Cagayan of the Philippines actively markets the Cagayan Freeport as the gateway to the Asian gaming market in recent years with its reputation for fair and balanced regulation, as well as innovative products and services in the online gaming market.
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In 1992 the Philippines had one of the lowest levels of telephone penetration in Asia: slightly more than 1 per 100 inhabitants. By 1995 there were about 60 telephone companies, but most were operating only in urban areas and the long-distance traffic was controlled by a single company, the Philippine Long Distance Telephone Company. In 1995 a new telecommunications policy act was passed which, although still favoring the dominant carrier, acted to both deregulate telecommunications and increase coverage in more rural areas. One result was an increase in the number of phone lines to almost 4 per 100 inhabitants by the end of 1999. However, the cost of a phone call to the United States is more than 120 times the cost of a flat rate local call. In June 1999 the Philippine League for Democratic Telecommunications called for a boycott of both local and long distance telephone services to protest the high rates being charged and the threat of incipient call metering.
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The Philippines has many national heroes. Considered the first to repel western aggression was Lapu-Lapu of Mactan Island, who killed Ferdinand Magellan. Jos� Rizal (born June 19, 1861, in the town of Calamba, Laguna), Pride of the Malay Race, Philippine National Hero, mastered 22 languages: Arabic, Catalan, Chinese, English, French, German, Greek, Hebrew, Italian, Japanese, Latin, Malayan, Portuguese, Russian, Sanskrit, Spanish, Tagalog, and other native dialects; he was an architect, artist, businessman, cartoonist, educator, economist, ethnologist, scientific farmer, historian, inventor, journalist, linguist, musician, mythologist, nationalist, naturalist, novelist, ophthalmic surgeon, poet, propagandist, psychologist, scientist, sculptor, sociologist, and theologian. The first Asian Secretary-General for the United Nations General Assembly was a Filipino - Carlos Pena Romulo.
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Foreign investors cite relatively high energy costs in the Philippines compared to neighboring countries, and the potential for power shortages in the mid-term, as areas of concern. The GRP is taking these challenges seriously, and is moving forward on its agenda to liberalize the power sector through the sale of national assets and through support for alternative energy sources to reduce dependence on imported fuels. The Energy Development Corporation, the geothermal producer subsidiary of the Philippine National Oil Company, had a successful debut at the stock market. It posted a P4.55 sale price per share, a surge from the initial public offering of P3.20, at close of trading December 18, 2006. Some 5.2 billion primary and secondary shares were sold to generate P16.7 billion in proceeds. However, despite a legal requirement that the GRP divest itself of 70% of electrical generation capacity by the end of 2005, only 11% had been sold by end-2006.
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Over the years, the Philippines has gone from being one of the richest countries in Asia (following Japan) to being one of the poorest. Growth immediately after the war was rapid, but slowed over time. A severe recession in 1984-85 saw the economy shrink by more than 10%, and perceptions of political instability during the Aquino administration further dampened economic activity. During his administration, President Ramos introduced a broad range of economic reforms and initiatives designed to spur business growth and foreign investment. As a result, the Philippines saw a period of higher growth, but the Asian financial crisis triggered in 1997 slowed economic development in the Philippines once again. President Estrada managed to continue some of the reforms begun by the Ramos administration.
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