The Philippines: huge potential for payments

Due to the geographic nature of the Philippines, it is currently very difficult for banks and retailers to reach every island in the nation. However, the emergence of online and mobile payment services will resolve the issue of cost, with payment providers set to benefit from the country's young population and accelerating economic growth.

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PLA Innovation of the Week: turning "ordinary" rice into "extraordinary" rice

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Number of millionaires in emerging Asian economies set to overtake Western Europe in 2013

According to Datamonitor statistics, the emerging Asia Pacific economies are set to have a greater number of millionaires than Western Europe by 2013. This largely results from the emergence of the Indian and Chinese economies, which have experienced significant export-driven growth. Internal demand is also becoming increasingly important, and is helping to increase the number of millionaires.

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New household products review: plastic bags make a stand

In this month's rundown of the latest innovations from the household goods industry, new storage solutions have been developed that could see plastic bags take a more permanent place in pantries and food cupboards. Meanwhile, dish detergents are looking to boost premium appeal through the use of moisturizers and upscale fragrances.

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New drinks review: soft drink helps smokers get their fix

Aiming to encapsulate the experience of smoking in a bottle, a new tobacco-based beverage heads this month's summary of the most recent innovative launches from the drinks industry. In other news, a novel extract has made its debut in Russia, while in the Philippines the coconut fruit has inspired unusual packaging.

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New food review: sweet and savory flavors head in new directions

This month's rundown of global new food launches sees sweet and savory flavors appearing in an increasing number of unexpected and unprecedented product categories. Products from savory sprinkles to double cheese ice cream and charcoal cheesecake show how manufacturers are turning to unconventional, even counterintuitive, combinations to add an extra sensory edge to their product offerings.

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The Philippines: major power crisis raises questions over existing industry regulations

The Philippines' power market is on the brink of collapse due to a 60% drop in hydropower generation, caused by a prolonged drought. The country is highly dependent on its hydropower facilities, and short-term initiatives may be rushed through to bypass existing restrictive laws and rectify the country's current energy woes. However, such solutions may deter future foreign investment.

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New drinks review: energy drink targets trucker market

The energy drink market is growing rapidly, leading manufacturers to launch a plethora of new flavors that are targeted at a growing number of consumers. One of the more unusual targets seen this month is truckers, an unusual niche that shows how wide-reaching the sector has become.

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Kirin: buys stake in San Miguel Brewery

The purchase of a large stake in San Miguel Brewery will allow Kirin to expand its manufacturing capabilities in Asia and benefit from large sales in the Philippines thanks to the established market position of the target company. This deal should advance Kirin's aim to become a market leader in Asia Pacific over the coming years.

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New drinks review: ethical beverages continue to court favor

This month's review of new drinks launches from the Productscan database finds that ethical drinks are increasingly being introduced to market. Whether carbon neutral, ethically packaged or with a charitable core, manufacturers are finding that it pays to court consumers' principles in the pursuit of increasing market share.

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