Monthly Archives: January 2012

MANILA, Philippines – The Bureau of Internal Revenue (BIR) is aiming to increase to P95 billion a year the tax collections from self-employed individuals from only P9-billion annual tax take from this sector, its top official said.

The National Statistical Coordination Board (NSCB) expects a positive outlook for the Philippine economy this year as its composite leading economic index (LEI) continued to improve.

The Monetary Board (MB) has decided yesterday to reduce the Bangko Sentral ng Pilipinas (BSP)’s key policy interest rates by 25 basis points to 4.25 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6.25 percent for the overnight lending or repurchase (RP) facility, effective immediately.

The corporate world is replete with management “fad-ism”—MBO, Six Sigma, benchmarking and leveraging. The underlying clinical concept may be valid. But relevance and organization ‘‘fit” is imperative for these concepts to create a better organization. Managing the change and readily responding to needed adjustment in execution, given the corporate culture, are imperative. Organizations are advised…

Large Philippine banks remain relatively stable in their lending operations, with an average non-performing loan ratio of below 3 percent in line with international standards, but some smaller banks engaged in consumer lending have bad loans as high as 60 percent of loan portfolio.

THE Department of Labor and Employment imposed a total ban on the deployment of overseas Filipino workers to the African country of South Sudan.

LAWMAKERS have pressed for a thorough congressional probe on the real financial status of the Philippine Health Insurance Corp. following a controversial circular issued by the health insurance agency which effectively made it nearly impossible for local government units to sustain payment of premiums for their beneficiaries.

The World Bank (WB) reported that the Philippine economy is projected to grow by 4.2 percent this year mostly because of higher remittances from overseas Filipino workers and renewed public spending.

MANILA, Philippines – The government has allotted half a billion yearly for the industry competitiveness fund (ICF) to help big ticket investors operating in ecozones outside the Philippine Economic Zone Authority (PEZA) cope with high electricity costs.

MANILA, Philippines – Retirees may be past the days of resolving to work out more. Yet when it comes to money in particular, resolutions may be even more important for those living on fixed income. From financial nuts and bolts to more holistic aims, here’s a look at seven worthy resolutions for retirees to commit…

THE PHILIPPINES is the third country with the lowest outlook for salary hikes this year, two foreign recruitment firms said. The study conducted by India-based recruitment platforms MyHiringClub.com and NriJobPortal.com said the general salary level in the Philippines would increase by 4.21% in 2012, placing third in the list of countries with lowest outlook, next…

The Trade Department is keeping an exports target of $80.2 billion this year despite the drop in shipments in 2011 and the possible impact of a bill in the US Congress on the business process outsourcing industry in the Philippines.

MINDANAO is now on “red alert” due to a power shortage, while Luzon will need more power generators in the next three years as a result of rising demand and the increasing population, Energy Secretary Jose Almendras said Tuesday.

MANILA – Is the Philippines emerging as an investor safe haven against economic weakness in the West and potential turbulence in China? A Bank of America-Merrill Lynch survey shows global fund managers have increased their “overweight” investment positions in the Philippines, making it the survey’s third-most preferred market in the world trailing only China and…

The thing certain with international factors affecting this year’s economic performance is that they are uncertain. Hence, we expect, as in the past, economic volatility. Economic and business expectations definitely have to factor in these uncertain events to manage the year right.

WHILE former President and incumbent Rep. Gloria Arroyo of Pampanga province has blamed the Aquino administration’s alleged “politics of division” as the reason for the economy’s growth rate to drop, the Philippine Chamber of Commerce and Industry (PCCI) cited global factors for the current economic slump the country is experiencing.

THE Ninoy Aquino International Airport Terminal 1 (NAIA 1) again made headlines in the international arena, but in a bad way. NAIA 1 was adjudged by travel guide Frommer’s as the second worst airport in the world.

All Filipino workers who will be evacuated from conflict-stricken countries will now be interviewed upon arrival in the country, Vice President Jejomar Binay said after the discovery of many underaged workers being sent abroad.

THE military said the communist organization in the country is stepping up its political rhetoric and venturing into the open political battlefield.

Whether you’ve made a New Year’s resolution to lose weight or you’re trying (again) to quit smoking, changing any lifestyle behavior is notoriously difficult. Some people feel unsure of how to go about it. Others start off strong, only to revert to old ways within a matter of time.

The Senate started the impeachment trial of Chief Justice Corona yesterday with 11 House Representatives acting as prosecutors presenting 8 articles of impeachment. The House prosecution panel was composed of Niel Tupas Jr. of Iloilo, Joseph Emilio Abaya of Cavite, Raul Daza of Northern Samar, Georgidi Aggabao of Isabela, Marilyn Primicias Agabas of Pangasinan, Elpidio…

THE number of Filipino nurses wanting to work in the United States dropped by 42 percent to 5,630 in 2011 from 9,789 the year before, a former labor leader and now a lawmaker said Monday.

With a 50-percent increase in new HIV infections in the past 10 years and decreasing local and foreign funding for anti-AIDS programs, the Philippines has “a long way” to go to meet its sixth Millennium Development Goal (MDG)—to halt and reverse the spread of the dreaded disease by 2015.

Countries throughout the world will experience an economic slowdown this year as the sovereign debt crisis in Europe continues to unfold, according to a United Nations report launched today that also warns that governments must urgently address high unemployment rates, particularly among youth.

Philippine and Saudi officials have signed an agreement lifting the deployment ban on household service workers to Saudi Arabia, the Philippine mission in Riyadh said.

MANILA, Philippines—Remittances grew at a faster pace in November even though two of the Philippines’ key labor markets—the United States and Europe—continued to be plagued by economic problems.

The Middle East and Asia could hire at least 1.5m highly-skilled Filipino workers in 2012, according to Philippines Labour Undersecretary Danilo Cruz.

MANILA, Philippines—The number of Filipinos without jobs settled at 2.814 million in 2011 when the labor force breached the 40-million mark, according to the Bureau of Labor and Employment Statistics (BLES).

Notwithstanding the attention on the impeachment trial of Chief Justice Renato Corona when Congress resumes session Jan. 16, the Department of Labor and Employment voiced hopes lawmakers can pass several key labor laws and international instruments.

The Department of Education (DepEd) has begun the shift to the K to 12 educational system, which will add two years to the current national basic education program. The new system is meant to tackle the many problems plaguing Philippine education: poor quality, poor internal inefficiency, inadequate faculty credentials and facilities, and a congested curriculum…