Monthly Archives: December 2008

Portfolio investments continued to flee the country in November, suffering from tightening global liquidity that persisted despite efforts of central banks to release more funds into the global financial system.

MANILA, Philippines —  Ernesto Igama quit his job as a ship’s engineer after a pirate attack seven years ago. His love for the sea has brought him back, but now the global financial crisis could keep him stranded on land.

Like me, you could be one of many Filipinos currently facing a major problem, a crisis, or dilemma. You might be an employer now facing the difficult decision of having to let people go because you are out of business or out of a job.

Social Security System (SSS) administrator Romulo Neri now controls a P100-billion fund that was approved by President Arroyo and her Cabinet for a massive infrastructure-based program.

The average rate of the 91-day Treasury bill (T-bill) went up by 42.3 basis points to 6.122 percent during yesterday’s auction while the 364-day paper fetched a rate of 6.414 percent, 69.7 basis points lower than the previous rate of 7.111 percent.

The world recession is supposed to hit the Philippines hard by 2009 when many of our overseas Filipino workers (OFWs) would be returning to the homeland when they lose their jobs abroad. This is what the Trade Union Congress of the Philippines (TUCP) has been warning… of a reverse migration if the economic depression affecting…

The Supreme Court yesterday approved the creation of a P1-million reward fund for informants who can help authorities solve the killings of judges across the country.

The Philippines stands a strong chance of getting an additional sugar quota to the United States  next year, according to Sugar Regulatory Administration (SRA) head Rafael Coscolluela said yesterday.

Foreign direct investments (FDIs) tumbled by 45 percent to $1.387 billion during the first nine months of this year from $2.54 billion a year ago as foreign investors held back plans to expand their Philippine operations.

Isuzu Philippines Corp. announced that for the first time in almost a decade, the company will post a negative growth next year due to the expected decline in demand due to the global economic crisis.

The United States government’s Millennium Challenge Corp. (MCC) has shortlisted five projects for possible funding under the MCC program, a Finance official said yesterday.

Moody’s has downgraded its outlook rating on Philippine banks from “stable” to “negative,” saying that the expected global slowdown and its effects on the economy would drag the earnings and asset quality of the local banking industry.

The Department of Labor and Employment (DOLE) ruled out anew yesterday the possibility of massive displacement of Filipino workers abroad despite the prevailing global economic crisis.

The Catholic Church can blame the government for massive corruption in the country, but this in itself is a testament on how miserably it has failed to shepherd its flock, a senior lawmaker pointed out yesterday.

The Commission on Human Rights (CHR) yesterday enjoined Filipinos to do their share in ensuring the promotion and protection of human rights and stressed that more effort must be done to improve the human rights situation in the Philippines.

Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. expressed confidence yesterday that the monetary policies of the BSP would allow the economy to be “relatively less affected” by the global slowdown.

Concerned about the continued threats against the environment, the Catholic Bishops’ Conference of the Philippines (CBCP) yesterday issued a pastoral letter reiterating its appeal for a moratorium on mining activities and called for a multisectoral cooperation against illegal logging.

London-based HSBC, one of the biggest financial institutions in the world, expects gross domestic product (GDP) in the Philippines to grow between three and four percent next year.

Only 500,000 new jobs are expected to be created next year, half of the usual one million new employment opportunities generated each year, the Employers’ Confederation of the Philippines (ECOP) said.

Global remittances from overseas workers and migrants are outpacing the inflow of official official development funds, a World Bank study showed.

WASHINGTON – Will the global economic crisis cause a sharp drop in worker remittances to the Philippines in 2009 or will the country be immune to the downturn?

An ex post facto law is one which, among others, aggravates a crime or makes it greater than it was when committed or changes the punishment and inflicts a greater one than the law annexed to the crime when committed. Such law cannot be given retroactive effect. This is the principle unsuccessfully invoked by Charing…

The Armed Forces of the Philippines admitted that it is affected by allegations linking the AFP to cases of human rights violations, particularly incidents of enforced disappearances and summary executions.

The Freedom Fund for Filipino Journalist (FFFJ) called on the government anew to address the unsolved killings of journalists, including the cases of 39 newsmen murdered during the administration of President Arroyo.

The United Nations has lauded the Philippine government for implementing its unique program of protecting children in conflict areas.

Ombudsman Ma. Merceditas Gutierrez has admitted that corruption in the Philippines is worsening, in an apparent affirmation of foreign surveys that had tagged the country as among the most corrupt in Asia.

Sure, you enjoy the glamour and glitter of the Christmas season — who doesn’t? But what you really want during the holidays is to have a purely joyful moment with your family, enjoy good food and music with friends, and find enough time to decorate your home — all without breaking a sweat, gaining 20…

Former overseas performing artists (OPA) in Japan are seeking the government’s help in making representation with Tokyo so that their children who were unrecognized or abandoned by their Japanese fathers can avail of their rights and privileges in that country.

The Philippines must actively participate in global efforts to reduce greenhouse gas emissions to help prevent extreme climactic changes that cause natural disasters, Sen. Loren Legarda said recently.

The Philippines yesterday said the Universal Declaration of Human Rights, of which the country had played a significant role in its drafting 60 years ago, continues to be not only relevant, but vital in promoting peace and security and human development throughout the world.