Monthly Archives: February 2009

Vice President Noli de Castro proposed yesterday to the Department of Foreign Affairs and Department of Labor and Employment to implement a selective deployment ban in Iraq, Lebanon and Nigeria.

A new movement in search of 10 million voters who will support reform-oriented, pro-good governance candidates in next year’s May national and local elections was formally launched February 3.

Several “junior” miners have assured the Department of Environment and Natural Resources (DENR) Mines and Geosciences Bureau (MGB) that they are proceeding with their mineral exploration activities even in the face of a global economic slowdown.

The government must categorically require users of the P330 billion economic stimulus package to buy locally made products and use Filipino contractors, the Federation of Philippine Industries (FPI) said.

MANILA – ELECTRONICS company Amkor Technology has laid off 1,500 workers from its two plants in the Philippines due to declining orders, a company official said on Friday.

SUBIC BAY FREEPORT – Federal Express (FedEx), the world’s largest cargo delivery service company, has started transfering its entire Asia-Pacific hub operations from the Subic Bay International Airport (SBIA) to a new hub facility in Guangzhou, China.

Total sales of the country’s pre-need companies fell 18.56 percent last year to P15.3 billion, according to latest data released by the Securities and Exchange Commission’s Non-Traditional Securities Department.

Big players in the local automotive industry have been hit by the global slowdown in consumer demand as Toyota Motor Philippines (TMP) reduced their production of Innova and Vios by 10 percent, Nissan Motor Philippines Inc. implemented a four-day work week and retrenched 16 percent of its workers while Mitsubishi Motors Corp. Philippines instituted a…

Standard & Poors (S&P) has downscaled its growth projection for the Philippines in 2009 from the original forecast of 3.3 percent to only 2.2 percent.

Local vehicle assemblers are lining up strategies that would include seeking an amendment of the bond requirement for excise tax payment and a string of perks to buyers to maintain profitability and shield thousands of workers from losing their jobs.

The local automotive industry would try not to shed jobs, officials said, even as some car companies here are already implementing some “efficiency measures” to cut down on costs amid the global downturn.

Excessive burning of mercury-added products doubles mercury emissions to the atmosphere every year, international non-government organizations (NGOs) warned on Thursday.

THE Public Works Department will hire half a million laborers this year as part of the government’s pump-priming program to soften the impact of the economic crisis.

Vice President Noli “Kabayan” De Castro announced another adjustment in Pag-IBIG Fund housing loan interest rates, making the monthly amortizations for its most popular loan package even more affordable.

MANILA, Feb. 6 (PNA) – In an effort to reach out to young dropouts and out of school youth (OSY) and bring them back to finish school, the Department of Education (DepEd) announced on Wednesday they are now conducting a massive search for 5.6 million OSY through the Project Reaching All Children (REACH).

The country’s mobile phone service sector is projected to post a low to mid-single digit growth rate this year compared to last year in terms of revenues, in step with the expected growth for the economy.

Philippine exports could still be spared from contraction this year and manage a flat growth if companies tap other markets, Socioeconomic Planning Secretary Ralph Recto said yesterday.

The International Monetary Fund (IMF) downscaled again its 2009 economic growth projections for the Philippines from its 3.5-percent estimate in November last year to only 2.25 percent.

The Department of Social Welfare and Development (DSWD) hopes to increase enrolment of day care children from 1.2 million to 3 million through the electronic learning project which it will implement soon together with two private organizations.

The Philippines today is governed by President Gloria Macapagal Arroyo’s social reform and poverty reduction program 2004-2010. Under her are the cabinet secretaries whom she meets weekly. They are represented in the National EFA Committee (NEC), which has been meeting frequently to advocate and transform UNESCO’s Education For All programs into Education for Sustainable Development…

President Arroyo announced that a P1-billion livelihood support fund for displaced overseas Filipino workers (OFWs) is now available.

Tourist arrivals in the Philippines rose by 1.5 percent to a record 3.14 million in 2008, despite the global financial crisis, the Tourism department said Wednesday.

Bahrain needs more foreign workers and would hire Filipino workers to support its booming economy, according to a Maca­lañang press release on Wednesday that quoted the prime minister of the Middle Eastern kingdom.

SALES of preneed plans were up last year as more clients bought more life products during the period, the Securities and Exchange Commission (SEC) said.

The Philippines, aiming to cut its reliance on imported crude, will import ethanol mostly from Brazil, a government official said.

BACOLOD CITY – Negros Occidental policemen rescued on Monday five minors from Antique working as sacada (sugar farm workers) in Murcia, provincial police director Senior Supt. Manuel Felix said.

Dear PAO,  In October 2008, the fruit-processing company I used to work for in an industrial/commercial complex within Metro Manila decided to cease operations due to losses incurred during the past several years and financial constraints. The company said it would give what is due to its employees as required under the law. The firm…

THE Philippines’ gender equality and women empowerment have improved despite sporadic reports of discrimination, a joint study of the Asian Development Bank and other multilateral institutions reveals.

The local semiconductors and electronics export sector is already troubled by very slow orders these days and it does not help that companies are also finding it difficult to access credit lately, an industry official said.

The bad loan ratio of rural banks went up in January to September last year as the loan portfolio contracted faster than the decline in nonperforming loans (NPL), Bangko Sentral ng Pilipinas (BSP) said Tuesday.