Monthly Archives: December 2009

Air pollution costs the Philippines billions of dollars a year and kills thousands of people annually, according to the World Bank report released Monday. The World Bank, in its report “The Philippines: Country Environmental Analysis,” said that outdoor air pollution has cost the Philippines more than 1 percent of gross national product (GNP).

“Where the law is subject to some other authority and has none of its own, the collapse of the state, in my view, is not far off; but if law is the master of the government and the government is its slave, then the situation is full of promise and men enjoy all the blessings…

Analysts forecast cut in remittances MANILA, Philippines – A brewing debt crisis in Dubai has raised a specter of gloom on the Philippines, where many households have been relying on petrodollars sent home by a large pool of overseas workers in the Middle East.

MANILA – The Philippines is watching 3 key areas that may take a hit from the ongoing Dubai debt crisis: volume of remittances, foreign exchange rates, and the cost of foreign borrowings sourced from global bond market. The 3 indicates the Philippines’ possible areas of vulnerability when a global economic or financial event ensues.

MANILA, Philippines – Total residential real estate and auto loans continued to post double-digit growth rates in the first nine months of the year despite a slower economic growth brought about by the global economic crisis.

MANILA, Philippines – Due to recent calamities that hit the country and the coming Holiday season, Filipino workers in Canada and other countries have sent home more money to their families back home.

MANILA, Philippines – The International Monetary Fund (IMF) said the local banking system remained resilient after the Bangko Sentral ng Pilipinas (BSP) managed to put in place reforms aimed at containing the effects of the global financial crisis.

MANILA, Philippines – The number of Filipino families who consider themselves poor slightly declined, following typhoons “Ondoy” and “Pepeng” that hit the country, according to a latest survey by the Social Weather Stations (SWS).

MANILA, Philippines – There are around 3,000 Filipinos detained overseas on criminal charges, the Department of Foreign Affairs (DFA) reported yesterday.