Monthly Archives: July 2009

MANILA, Philippines – With more than 200 million people now working and living outside their own country, a United Nations migration expert said attention must be drawn to existing protection and policy gaps which adversely affect “children left behind,” “children on the move,” and “children in host countries.”

• Government decision on compensation expected • Evidence suggests toxic fibres cause ovarian cancer The lethal threat from asbestos fibres may have been seriously underestimated, medical researchers are warning, as thousands of people with asbestos-related illnesses wait to hear whether they can sue for compensation.

THE Philippines and Israel are bent on increasing trade relations, starting with finding new markets in both countries. A memorandum of understanding (MOU) on the matter was signed this week by Isidor Gilan, director of the Israel Chamber of Commerce of the Philippines; Miguel Varela, chairman of the Philippine Chamber of Commerce and Industry; and…

The reason for competing is to improve the human condition. This is why the Asian Institute of Management (AIM) Policy Center continues engaging in competitiveness studies—it is not to rank or study the ranking of countries or cities for the sake of ranking. The purpose is to spur activities that will lead to economic growth…

Key infrastructure projects require huge funding estimated at P2 trillion. According to the National Economic and Development Authority (NEDA), P1.15 trillion will come from the national government and P613 billion from the private sector.

The Philippine dependency ratio is a nightmare. At 61.66 percent, it means too few Filipinos are expected to support too many.

Editor’s note: Elmer Hernandez is the undersecretary for Industry and Investments at the Department of Trade and Industry. Following is his reaction to the competitiveness report. Overall, 2009 will be about achieving a flat trend in competitiveness rating because of the global financial crisis.

SPECIAL REPORT: PHILIPPINES COMPETITIVENESS   State of the Nation   In health, science and technology, education, energy and many other areas, the Philippines scored the second worst in a competitiveness rating of 57 countries.

Unless the Commission on Elections (Comelec) takes the proper steps, Makati Mayor and United Opposition (UNO) president Jejomar Binay sees a chaotic election in 2010 with voters grappling with automated voting and clustered precincts.

In a bid to boost its standing in Southeast Asia, the United States will finally accede next week to the ASEAN Treaty of Amity and Cooperation (TAC), a sign that Washington is expanding its engagement in a region “neglected” for several years under the Bush administration, diplomatic sources said yesterday.

MANILA, Philippines – Most Filipino adults would oppose moves to amend the Constitution if the changes would extend the term of President Arroyo beyond 2010, results of a recent Social Weather Stations (SWS) survey showed.

MANILA, Philippines – Foreign investments in stocks, government securities and peso-denominated assets yielded a net outflow of $77 million in June, a marked turnaround from a net inflow of $498 million in May, as investors remained wary of putting their funds in emerging markets like the Philippines, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

NEW YORK (Reuters) — Nouriel Roubini, one of the few economists who accurately predicted the magnitude of the financial crisis, said on Thursday that the worst of the turmoil has passed.

KUALA LUMPUR (AFP) – – Malaysia’s recent liberalisation moves are having little immediate success in reviving the economy, a leading think tank said as it downgraded its 2009 growth forecast.

The use of supposedly banned chemicals in the manufacture of animal-based food products must be put to a stop.

GOODYEAR Philippines Inc. is closing down its tire manufacturing operations by Sept. 30 following a slump in exports, which account for half of its business in the Philippines.

The business pages of both the Philippine Daily Inquirer and the Philippine Star carried almost identical headlines the other day. “Remittances surged to $1.48B in May,” said the Inquirer. “OFW remittances hit record high in May,” said The Star. One cannot miss the celebratory tone in which Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr.…

Although we seem to have a never-ending problem of unemployment and underemployment, the more pressing predicament in this crucial economic time we are in is unmotivated employees. They stay with you, but they are not there. They simply fulfill the minimum requirements of the job, they stay within the limits of your Code of Discipline…

State-run Power Sector Assets and Liabilities Management Corp. (PSALM) said it targets to privatize the Limay combined cycle power plant in Bataan before the end of the month.

Local sugar production has suffered a double-digit drop for the crop year 2008-2009 due to typhoons that ravaged plantations during the period, the government said Friday. According to Sugar Regulatory Administration (SRA) chief Rafael Coscolluela, sugar production dropped by 15 percent to 2.09 million metric tons (MT) from 2.4 million MT in 2007 and 2008…

PRICES of construction materials in Metro Manila contracted for a second month in June, the National Statistics Office (NSO) said.

Opposition to Charter change continues to mount, especially when such amendment to the Constitution would allow President Gloria Arroyo to remain in power even after the expiration of her term next year.

Giant tire manufacturer Goodyear on Friday announced it would be closing down its Philippine production facility by end-September, which will leave 500 people jobless.

State-run Metropolitan Waterworks and Sewerage System (MWSS) said that the impending privatization of the Angat hydroelectric power plant may adversely affect Metro Manila’s water supply.

Normally oblivious to public criticisms about pump prices, local players in the oil industry and Department of Energy appeared stung by a small player’s promotion of “big-time” rollbacks at the expense of its competitors.

Some 1.4 million Filipinos are now involved in the e-load business, or the sale of pre-paid mobile phone credits to subscribers.

The Finance Department has strongly opposed the establishment of more special economic zones in different parts of the country, saying they could worsen the government’s deteriorating fiscal condition.

Profits of listed companies declined at a slower pace during the first three months of the year, according to the Philippine Stock Exchange (PSE).

FOREIGN investments in listed shares of Philippine firms and in other peso-denominated financial assets recovered in the first half of this year but the June figures show no sustainable trend as far as inflows are concerned.

The drug industry’s worse case scenario is hopefully just about to happen. And as far as I can see, they have no one else to blame but themselves. Through the years, the drug lobby had been horrible. They bully and yes, I can almost believe allegations that they are not above bribery too but not…