Monthly Archives: April 2009

WASHINGTON — Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.

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Energy Secretary Angelo Reyes asked Economic Planning chief Ralph Recto to a conference with oil players next week to “reconcile any differences in perception as to what prices are reasonable” when it comes to petroleum products such as gasoline and diesel.

The current happenings in Congress rekindle more intensely the lingering doubt about the usefulness and necessity of having a bicameral legislative body or of having a legislative body at all. Filipinos are again wondering why billions of pesos of their money are being wasted on such a Legislature that has not alleviated poverty in the…

MANILA, Philippines – The Philippines has appealed for greater protection of the rights of migrants at the World Conference on Racism in Geneva, Switzerland.

Free trade agreements or FTAs usually strike people, even many businessmen, as unfathomable or disjointed jargon because of its complicated language. Not surprisingly, the very bedrock on which FTAs are founded is in itself very much cause for debate.

MANILA, Philippines – Government borrowings soared 130 percent in the first quarter of this year as the budget deficit of the Arroyo administration more than doubled during the review period.

The International Monetary Fund sees remittances from Filipinos working abroad falling 7.5 percent amid a contracting global economy.

THE Philippines’ population growth rate will continue to outpace its Southeast Asian neighbors, according to the World Bank.In its World Development Indicator 2009 Report, the Washington-based lender said the Philippines’ population would grow at an annual average of 1.7 percent until 2015, hitting 101 million by that year.This is faster than Indonesia’s 1 percent, Malaysia’s…

The government’s stimulus package has focused on construction. South Korea has narrowly avoided entering recession after its economy grew by 0.1% between January and March compared with the last quarter of 2008.

IN a welcome development, highvalue business process out-sourcing (BPO) services provider StarTek is to immediately hire 400 agents to service new voice engagements, substantially beefing up its first facility in the Philippines.

Citibank said it is seeing more opportunities in corporate and consumer banking in the Philippines despite the downscaled forecast in the country’s economic growth.

WASHINGTON, D.C.: The International Monetary Fund (IMF) on Wednesday forecast a severe global contraction this year, sharply downgrading its already bleak outlook from earlier this year.

The Senate approved Wednesday on second reading the amendment of the eight-year-old Electric Power Industry Reform Act (EPIRA) “to ease the burden of power consumers, [eliminate] stranded-cost recovery and enhance competition among power industry players.”

MANILA, Philippines – Young children are exposed to too much violence in video games, and educators from a Quezon City-based international school say that anger management should be taught to elementary and high school students to reduce aggression among kids.

Environment Secretary Lito Atienza yesterday issued notices of violations to Manila Water Sewerage System, Maynilad Water and Manila Water for their failure to put up sufficient wastewater treatment facilities.

THE Supreme Court erred in its computation when it added 32 more party-list congressmen, exceeding the 250 limit set by the Constitution on the number of House representatives, House leaders said yesterday.

Why does the ILO promote cooperatives? Hagen Henry: The ILO views cooperatives as important in improving the living and working conditions of women and men globally as well as making essential infrastructure and services available even in areas neglected by the state and investor-driven enterprises. Moreover, values that are at the heart of the cooperative…

MANILA, Philippines – More Filipino children nationwide face the prospect of leaving school and working at a young age due to the prevailing global economic crisis, the International Labor Organization (ILO) warned yesterday.

MANILA, Philippines – The two-day high-level conference among 43 countries in Asia and Europe yesterday came to the conclusion that no country is on track with the Millennium Development Goals (MDGs) even countries that performed well on poverty alleviation.

MANILA, Philippines – Despite efforts to simplify business processes in the country, the cost of doing business in the Philippines is one of the highest in Southeast Asia and very little protection is given to investors.

MANILA, Philippines – Local industries are divided over the forthcoming full implementation of the ASEAN Free Trade Agreement (AFTA) next year wherein tariff rates on all products in the ASEAN region must come down to between zero and five percent.

While we can’t turn back time, we can certainly try to extend it. By eating healthy and keeping your nutrition in check, you’d be surprised at how much better you’ll feel. Your body will thank you for years, as well. We got the 411 from iVillage diet and nutrition expert, Dr. Madelyn Fernstrom, about which…

The government cannot stop employers from laying off workers to cushion the impact of the world economic crisis, the labor department said yesterday.

MANILA, Philippines—No discrimination against migrant workers and more protection of their human rights in the continuing global fight against racism.

MANILA, Philippines—Foreign Secretary David Miliband of the United Kingdom has commended the Philippines for pushing for a credible and effective body that would champion fundamental human rights in the ASEAN region, the British Embassy in Manila said in a statement Thursday.

MANILA, Philippines – The number of the country’s tourism jobs is evidently growing as can be seen from the unexpectedly big increase in the number of employers joining this year’s Trabaho sa Turismo (TST) Manila fair.

Contrary to Malacañang’s disingenuous statements, the Supreme Court decision in Banat vs Comelec came as a surprise to the administration. It flustered its coalition partners in the House of Representatives, and forced an unscheduled filing of a new, pro-Charter change resolution. And contrary to the instinctive reaction of many administration critics, the landmark ruling revising…

MANILA, Philippines — The economic crisis has forced Filipinos to become more conservative with their spending habits, pushing many consumer products lower down their hierarchy of needs and requiring many firms to rethink their marketing strategies.