Monthly Archives: December 2008

SINGAPORE/NEW YORK (Reuters) – Many investors said good riddance on Wednesday to one of the worst years on record and prayed that government rescue plans will pull the global economy out of its fierce tailspin later in the new year.

MALOLOS CITY – Bulacan pyrotechnics manufacturers are counting on the law of economics to level the playing field for the local pyrotechnics industry against smuggled fireworks.

The see-saw economy, disasters both man-made and natural, sporting zeroes and heroes, and the usual political rigmarole dominated the headlines in the year just past.

The Department of Labor and Employment (DOLE) yesterday warned of a record high unemployment rate in the coming year due to the prevailing global economic crisis.

The flour industry is expected to bounce back next year after a difficult 2008 wherein prices became unstable as a result of the sharp increases in oil prices.

by Honesto General from Philippine Daily Inquirer On Dec. 10, in observance of the 60th year of the of the Universal Declaration of Human Rights, the group Karapatan, at a news briefing in a Quezon City restaurant, presented a 32-page 2008 Human Rights Report, which was featured by the Philippine Daily Inquirer in a front-page…

While a number of overseas Filipino workers, many from Taiwan, have been returning home jobless, Philippine Overseas Employment Administration records show that around 3,000 leave every day to work abroad. As the OFW picture keeps changing, note these POEA concerns: • The nationalization policy in many Gulf countries limits hiring foreign workers, particularly unskilled labor.…

A WHAT?: All businesses and households in Metro Manila, home to some 12 million residents spread over 620 square kilometers, pay a hefty “sewer” charge with their water bill, but most of them are not even aware of it.

Commission on Higher Education (CHED) chairman Dr. Emmanuel Angeles III is not worrying over the reported cut on the budget of some 21 state universities and colleges (SUCs) made by the Senate, saying any such move would still be decided in the bicameral budget committee.

Nine out of 10 or 92 percent of Filipinos look forward to the New Year with hope rather than fear, a survey by the Social Weather Stations (SWS) showed.

During these challenging times, foreign and local investors in the Philippines are looking into ways to cushion the effects of the global financial crisis on their businesses. For some, merger or consolidation of corporations is seen as a viable solution. But to the not so fortunate, closure or dissolution of a corporation is inevitable.

The government’s budget deficit could swell to as much as P160 billion in 2009 or two percent of gross domestic product (GDP), Socioeconomic Planning Secretary Ralph Recto said.

The year 2008 started promisingly. Higher production targets were set for palay and corn. The hog and poultry sector were continuing their recovery while the fisheries sector sustained its growth.

The country has enough foreign exchange reserves to cushion the economy from the impact of the expected slowdown in portfolio inflows from investments and exports.

You can’t control genetics or the guy on the bus who sneezes on you, but many factors that affect your health are well within your control. Here are nine simple and surprising ways to improve your and your family’s health in 2009.

by Cris Evert Lato from Cebu Daily News CEBU CITY, Philippines – About 30 percent of overseas Filipino workers (OFWs) are working in the United States, according to research group Ibon Foundation.

The risk aversion of foreign investors should not be allowed to spill over to local investors whose loss of confidence could trigger a drastic drop in economic activity, the country’s top banker said.

The Japanese are looking at the Philippines as a possible site for outsourcing and offshoring (O&O), a ranking government official said.

Finance Secretary Margarito Teves described the year 2008 as “extremely stressful and difficult.” Teves has more than enough reasons to describe the year as such.

CHICAGO (AFP) – The potential collapse of the Detroit Three carmakers capped a turbulent year in the global automotive industry in which worldwide sales crashed and iconic brands swapped hands.

The Department of Environment and Natural Resources (DENR) is set to review and revise its mineral investment targets in the face of the global economic slowdown.

The government will push state agencies to spend more on various infrastructure projects as part of efforts to pump-prime the economy amid a global financial turmoil, a Cabinet official said.

The Department of Labor and Employment (DOLE) yesterday ruled out the possibility of an increase in minimum wage rates next year.

The Philippines has adopted the “zero-tolerance” policy against sexual abuse and other misconduct involving Filipino peacekeepers in United Nations mission areas.

The military sees the defeat of the communist rebellion in 2010 as rebel leaders in the Philippines are defying their superiors living in exile in the Netherlands.

Peace talks between the government and the National Democratic Front (NDF), stalled since 2004, showed no encouraging signs of being revived in 2008.

Eight industrial companies have been identified as among the “major polluters” of the Marilao-Meycauayan-Obando river system, which has been named as one of the world’s 10 dirtiest rivers.

NEW YORK (Reuters) – Retailers’ sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.

As global markets reel from the impact of the financial crisis that has claimed among its victims corporate giants from the US to Europe, Philippine banks have, thus far, emerged largely unscathed, the country’s top central banker points out.

MANILA, Philippines – Claiming another historic milestone, the Department of Labor and Employment (DOLE) said 2008 had the lowest strike rate in seven decades.