Monthly Archives: September 2012

THE GOVERNMENT yesterday released long-awaited rules for the implementation of its new mining policy which specifies, among others, areas closed to miners and guidelines for the regulation of small-scale operations. Philex Mining faces penalty for Padcal spillAustralian firm gets green light for Philippine minesMining policy rules finalized this weekCGA Mining earnings drop by 90.8%Mining industry…

MANILA, Philippines — The 7.8 percent growth in exports in July was a lot better than the 4.3 percent growth in June, but exporters said the growth still fell short of its 10 percent growth target for the year. Unless exports will grow by an average of 11 to 11.5 percent for the next five…

MANILA – Asean market integration by 2015 would likely be a challenge for the Philippines, as Manila appears to be more “wobbly” now than eight years ago compared with its neighbors in the region, the former secretary-general of the National Statistical Coordination Board said on Tuesday.

MANILA – Germany has provided the Philippines a $42.2 million grant for various projects aimed at addressing climate change. “The money that we are lucky to use, are tax payers’ money which is formed in a grant, which means that this is not an investment, there is no plowback, but it’s money made available for…

Did you know that government borrowed billions of pesos to build two major infrastructure projects that are now grossly underutilized—at only about one-twentieth of capacity—five years after completion? How would you feel if you learned that it is government itself, by its subsequent moves, which had undermined the use of these facilities? And how would…

The Philippines is no longer heavily dependent on foreign remittances as shown by the consistent faster growths in the value of goods and services produced within the country as compared to the increments in the income from abroad, the National Economic and Development (Neda) said.

SINGAPORE-based DBS Ltd. again upgraded its 2012 gross domestic product (GDP) forecast for the Philippines, but lowered the outlook for next year’s economic expansion. In its daily research note called Daily Breakfast on Monday, DBS said it now expects the Philippine economy to grow by 5.6% this year from a previous outlook of 5.3% “on…

MANILA – The Philippines enjoyed net inflows of foreign direct investment last June on the back of a Dutch company’s takeover of Alaska Milk Corp. In a statement, the Bangko Sentral ng Pilipinas said net inflows of FDI reached $73 million this year, or 16 percent higher than the $63 million in June last year.

MANILA – The Philippines is capable of hitting the high end of its economic growth projection for this year of 5 percent to 6 percent, but this growth assumption should have been accompanied by higher revenues that could have bolstered spending for this year, the Congressional Policy and Budget Research Department said.

Foreign-fund managers looking to cash in on the country’s long-haul growth prospects poured $917 million worth of foreign direct investments (FDI) in the first six months, pushing the level 10.6 percent higher.

FOREIGN DIRECT investments (FDI) were up a tenth in the first semester given continued confidence in the country, the Bangko Sentral ng Pilipinas (BSP) yesterday reported. June FDI alone rose by 16% to a net inflow of $73 million from a year earlier, bringing the first half tally to a net $917 million, up 10.6%…

A couple of days ago, Bishop Gabriel Reyes of the Diocese of Antipolo, writing under the stationery of the Catholic Bishops’ Conference of the Philippines, published an ad in the Inquirer and Philippine Star, expressing his disagreement with the views of an unnamed columnist on the merits and demerits of the Reproductive Health bill. The…

VLADIVOSTOK – President Aquino hinted here late Saturday that he would push ahead with bold reforms he initiated in government, especially since the Filipino masses have shown their trust in him through his sustained high ratings. Speaking to Manila-based reporters, Aquino said he was always conscious of his mandate, and that he was just an…

MANILA, Philippines – The economy has been doing well on the first two years of the Aquino administration, climbing up to achieve inclusive growth by introducing reforms recognized by the International Monetary Fund (IMF) as vital to alleviating poverty, the organization’s new resident representative in the country said.

There are hopes that reconstruction in areas affected by last year’s quake will boost long term growth. Japan has revised down its growth numbers for the second quarter, raising concerns about a slowdown in the world’s third-largest economy.

Peace negotiators of the government and the Moro Islamic Liberation Front on Sunday claimed substantive gains in their latest round of talks in Malaysia. The MILF said Sunday the 31st round of exploratory talks ended successfully in Kuala Lumpur, under the facilitation of Malaysia.

Sept. 10 (Bloomberg) — The Philippines’s move to enhance oversight of real-estate lending this year will help curb speculation and improve its ability to prevent a property bubble from forming, the central bank said.

With people living longer, more and more questions are being raised on the possible effects of the ageing of the population on labour markets and social security systems. GENEVA (ILO News) – As people live longer and birth rates drop – especially in developed economies – there is increasing concern over the long-term sustainability of…

MANILA, Philippines – Palace officials made a fresh call on lawmakers not to further delay the passage of the reproductive health (RH) bill. “As President [Aquino has] said, regardless of [the lawmakers’] belief, [they should] end period of debates. They should not pass this [on] to next Congress,” Presidential Communications Development and Strategic Planning Office…

MANILA, Philippines—On a scale of 1 to 7—with 1 being extremely underdeveloped and 7 extensive and efficient by global standards—roads in the Philippines scored a low 3.1 in the 2012 Global Competitiveness Report of the World Economic Forum, according to the Department of Public Works and Highways.

PRESIDENT Aquino returned to Manila on Sunday night after what he described as a “short but significant and fruitful visit” to Vladivostok, Russia, where he attended the 20th Asia-Pacific Economic Cooperation (Apec) Leaders’ Meeting and presented to 20 other leaders what he called the “new face of the Philippines.”

2015 APEC meet in Ph VLADIVOSTOK, Russia — The 20th Asia Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting ended on Sunday with the formal announcement that the Philippines will host the APEC Summit in 2015. The Philippines will host the summit after Indonesia and China.

Labor Secretary Rosalinda Baldoz looks forward to the entry into force of International Labor Organization (ILO) Domestic Workers Convention to give safer work conditions to an estimated 2.5 million Filipino domestic workers overseas.

Philippine officials in Malaysia have tightened the rules for new agencies bringing in Filipina domestic helpers, after Manila decided to phase out the sending of its citizens overseas to work as domestic helpers.

ASIA-PACIFIC Economic Cooperation (Apec) leaders yesterday agreed to cut trade tariffs to just five per cent for agreed environmentally-friendly goods from 2015, something the World Trade Organisation has failed to do in a decade. The initiative exemplifies the 21-member economic grouping’s seriousness in promoting green technology to control climate change.

President Hu said the underlying impact of the international financial crisis is far from over. Chinese President Hu Jintao has promised to maintain economic growth to support a global recovery, at the start of an Asia-Pacific summit in the Russian port city of Vladivostok.

MANILA – Half-a-million Filipinos will work as call center agents this year, the Contact Center Association of the Philippines said on Tuesday. Benedict Hernandez, CCAP president, said the call center industry’s workforce will hit 500,000 this year, adding that it is on track to meet its $8.4 billion revenue contribution to the Philippine economy for…

In the Philippines, the scenario is all too frequent: Employees calling in sick due to various illnesses like cold, fever, headache, body ache and pain. Sick or emergency leaves are filed to care for family members who fall ill. Chronic illnesses have become more prevalent with an alarming increase in the number of employees seeking…

SENATOR Vicente ‘Tito’ Sotto’s recent string of plagiarized speeches has certainly taken the cake as one of the Philippines most talked-about current issues. His speeches, however, have not debunked the Reproductive Health Bill. As a matter of fact, more and more advocates and detractors have called for speedy action on the bill in order to,…

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