Monthly Archives: October 2011

MANILA, Philippines – Merchandise exports are still expected to grow this year although at a much lower rate of only three percent from the original target of 10 percent , the Department of Trade and Industry (DTI) reported yesterday.

MANILA, Philippines – Creating more jobs and assisting the country’s poorest sectors will help the Philippine government avert situations similar to the global protests against corporate greed, an official of the United Nations (UN) said yesterday.

MANILA, Philippines – Flag carrier Philippine Airlines (PAL) is studying the filing of charges of economic sabotage against former employees who went on an illegal work stoppage last Sept. 27.

The Pasay City Regional Trial Court has issued a temporary restraining order prohibiting striking employees of the Philippine Airlines from holding demonstrations outside the In-Flight Center along MIA Road.

TERMINAL 1 of the Ninoy Aquino International has been voted the world’s worst airport this year—down from fifth worst in April—by the online guide to sleeping in airports (http://sleepinginairports.net).

MANILA, Philippines – Singaporean-owned Keppel Shipyard Inc. has evaded sanctions with the Department of Labor and Employment (DOLE) just ordering implementation of measures to prevent more accidents at its ship repair facility in Subic, Zambales.

With higher labor costs in China’s eastern coastal cities, attracting investors may be tough at this point. But then again, the investors they need are probably already there so that places like Shanghai and Guangdong don’t have to worry too much.

MANILA, Philippines – The Hongkong and Shanghai Banking Corp. (HSBC) forecasts the Philippine economy to grow by 4.8 percent in 2012 and by 4.6 percent in 2013.

MANILA, Philippines – The availability of jobs and steady source of income remains one of the country’s biggest challenges today. That is why Philex Mining Corp., which is committed to providing thousands of Filipino workers adequate jobs, particularly in the rural areas, have earned commendation from the Trade Union Congress of the Philippines (TUCP).

In his second year in office, President Noynoy Aquino has to make his economic programs work or his legacy will be in jeopardy. Although the economy moved forward in the first year, public investment – on which the need to raise infrastructure facilities depends – was low and unable to achieve any good stride to…

BUSINESS executives and the academe are urging companies to practice sustainable corporate social responsibility that will create shared value for the broader community amid global protests against financial inequality and corporate greed.

MANILA, Philippines – The government sold P9 billion worth of Treasury bills yesterday as the bids received by the Bureau of the Treasury (BTR) exceeded the programmed debt sale for all three tenors.

Mining is on the verge of boom. Close to $1 billion was invested in the industry last year. And the Chamber of Mines expects $14-$20 billion in the next five years. Chamber president Philip Romualdez gave such rosy figures last week to the Philippine Business Conference. He warned though that, “There is a concerted effort…

TAYTAY, Rizal: Police have issued a warning to the public against a syndicate whom they said are abducting children in preparation for Christmas to be used as beggars, after they recovered two minors earlier reported missing.

THE satisfaction ratings of President Benigno Aquino 3rd have rebounded, the latest Social Weather Stations (SWS) survey revealed on Tuesday.

THE Supreme Court (SC) has stopped the Bureau of Internal Revenue (BIR) from implementing a 20-percent final withholding tax (FWT) on P35-billion worth of Poverty Eradication and Alleviation Certificates (PEACe) bonds that matured on Tuesday.

The Armed Forces of the Philippines (AFP) yesterday assured the public that the planned employment of special Cafgus within mining sites in Surigao del Norte, which lost more than P2 billion in properties during an attack staged by the New People’s Army (NPA) early this month, will not lead to more human rights violations.

The government seems to have missed a golden opportunity to reclaim its ability to influence local prices of oil products after President Aquino turned down yesterday an offer from Petron Corp., now majority owned by conglomerate San Miguel Corp., to sell back to the state the refinery operations of the oil firm.

While debates raged yesterday over the Bureau of Internal Revenue’s (BIR) belated decision to slap a 20 percent tax on the controversial Poverty Eradication and Alleviation Certificate (PEACe) bonds that matured yesterday needing the government to shell out P35 billion to pay for the P10 billion borrowings 10 years ago, the architect of the so-called…

Flag-carrier Philippine Airlines (PAL) is considering filing economic sabotage charges against its former employees who staged a wildcat strike last Sept. 27 that paralyzed the airline’s operations at the height of Typhoon “Pedring.”

A close vote by the Supreme Court (SC) has upheld the constitutionality of Republic Act 10153 for the synchronization of the Autonomous Region in Muslim Mindanao (ARMM) elections with the national and local elections in 2013.

Representatives from the Supreme Court on Tuesday failed to show up at a congressional hearing regarding its controversial decision to recall its final ruling on a case filed against flag carrier Philippine Airlines (PAL).

Pregnancy is certainly a roller coaster of emotions for mums-to-be, but sadly, the journey from conception to birth ends all-too soon for some. Approximately 15 percent of recognized pregnancies end in miscarriage in the United States, and another 1 percent end in stillbirth. So how do these grieving individuals cope?

The DBS Group has lowered its 2011 growth forecast for the Philippines to 4.6 percent from 4.8 percent, mainly due to the downtrend in export earnings amid dampened global demand for electronics.

Country seen with resources to post faster growth The Asian Development Bank said the Philippines should aspire to post an economic growth of 7 to 8 percent a year, stressing that the country has the resources needed to achieve the goal.

Foreign direct investments (FDIs) are coming in trickles that it would take years for the Aquino government to fill the bucket unless it would aggressively improve infrastructure, simplify steps of doing business and reduce corruption.

Eight banks have asked the Supreme Court to stop the government from imposing and collecting a 20-percent final withholding tax on P35 billion worth of PEACe Bonds due today.

Groups supporting armed struggle against the government are barred from joining the National Anti-Poverty Commission.

THE Philippine Economic Zone Administration was blamed by the Occupational Safety and Health Center for being overprotective of foreign firms at Subic Freeport and not allowing safety inspections that could had prevented the accident that led to the death of six steel workers hired by Keppel Shipyard.

AT least 64 minors have been confirmed to be working in small-scale mining projects in the gold rush town of T’boli, South Cotabato, Department of Labor and Employment (DOLE) officials said.