Monthly Archives: November 2012

Japan’s government has approved its second round of stimulus in a little more than a month, as prime minister Yoshihiko Noda tries to pep up a flagging economy in the run-up to December’s elections.

Unemployment in the eurozone hit a new peak in October, underlining the misery facing millions of households suffering the effects of a recession that could last well into next year.

Better-than-expected third-quarter economic growth will likely boost revenue collections for the last three months of the year but base effects may dampen primary spending growth, the research arm of Citigroup Global Markets, Inc. said.

IN ADVANCE of the arrival of James Robinson (Harvard), coauthor with Daren Acemoglu (MIT) of “Why Nations Fail,” the World Bank sent me a copy of this bestseller. And I am in good company—with Michael Spence, 2001 Nobel Laureate in economics—when I say that it is a book that is hard to put down once…

Most everyone agrees that the announcement this week of a 7.1 percent growth in the country’s gross domestic product (GDP, or the sum total of goods and services produced by a country) for the third quarter was an unexpected surprise, one that bodes well for the Philippines’ short to medium-term prospects.

Study notes emergence of competing locations THE PHILIPPINES, India and China are the top three global shoring locations for corporations based on the number of jobs created in shared service centers, call centers and technical support centers from 2008 to 2011, according to a new report from global real estate adviser Jones Lang LaSalle.

MANILA, Philippines—The World Health Organization (WHO) on Thursday urged countries in the Western Pacific, including the Philippines, to do more in the fight against the spread of human immunodeficiency virus (HIV), which causes Acquired Immune Deficiency Syndrome (AIDS), among men who have sex with men (MSM) and transgender people.

MANILA, Philippines – The third quarter growth of the economy by 7.1 percent was a good sign but it must be backed by adequate government policies to ensure the development and improvement of the people’s welfare, economist Solita Monsod said Thursday.

ANALYSTS have moved to revise their growth outlooks for the Philippines following surprisingly strong third-quarter results. Strong growth seen boosting gov’t revenuesQ3 surprise prompts growth forecast revisionGrowth tops forecastsMedium-term growth seen below targetCiti sets 2013 GDP forecast of 5.3%

MANILA, Philippines — If the high unemployment rate and poverty incidence were to serve as basis for determining economic growth, government’s claim that it accelerated to 7.1 percent for the third quarter of this year sounds incredulous, militant lawmakers said Thursday.

MANILA, Philippines – The country’s surprising economic growth isn’t just the achievement of the administration of President Benigno Aquino III. It is also the accomplishment of the Arroyo administration.

MANILA, Philippines — Four more party-list groups are beneficiaries of the status quo ante order (SQAO) issued Thursday by the Supreme Court (SC) that stopped temporarily their disqualification in the 2013 national elections as the Commission on Elections (Comelec) allowed 79 party-list groups to participate in next year’s polls.

Tetangco says the confluence of nimble monetary policy, steadfast fiscal action, and swift government responses sustained the economy on path of high growth and stable inflation. With the country’s gross domestic product (GDP) again growing above forecasts in the third quarter, Bangko Sentral ng Pilipinas Governor Amando Tetangco said their current policy stance “appears to…

MANILA, Philippines—The Regional Tripartite Wages and Productivity Board for Central Visayas has announced that the region’s workers will get a P22-wage hike starting December 7.

GENEVA – Migrant workers from the world’s poorest countries sent home $27 billion (21 billion euros) in 2011 despite the global financial slowdown, but developing nations are failing to benefit fully from the cash, the UN said Monday.

The Philippines’ Conditional Cash Transfer (CCT) program has achieved better targeting outcomes compared to similar programs in other countries where it has been implemented for decades, the Asian Development Bank said.

THE PHILIPPINE economy has to grow vigorously and on a sustained basis by 7 to 8% for a decade in order to make a difference in the lives of poor Filipinos. But it is important that all cylinders should be firing simultaneously — agriculture, construction, manufacturing, mining, housing, and other service sectors. Yet, agriculture is…

With the deadline drawing near, the Philippines remains far from achieving the fifth Millennium Development Goal (MDG 5) of reducing maternal mortality rate and achieving universal access to reproductive health. “We have not made any headway in reducing maternal mortality in the Philippines,” admitted former Health secretary Esperanza Cabral during the Secretary’s Cup on Maternal…

Global investment bank JP Morgan has picked the Philippines as one of its three most-favored stock markets for 2013, marking the fourth straight year that the local bourse is expected to outperform most of its regional peers.

The Philippine economy must post an average annual growth rate of 6.7 percent for the per capita income to increase by two-fold after 15 years, National Economic and Development Authority (NEDA) director general Arsenio Balisacan said.

MANILA, Philippines – President Aquino ordered yesterday the creation of special teams that would investigate human rights abuses committed by state and non-state forces, in order to ensure a focused probe and speedy resolution of all unsolved and new cases, Executive Secretary Paquito Ochoa Jr. said yesterday.

THE Asian Development Bank (ADB) is urging countries in Asia Pacific to roll out social protection systems to enable the poor to better withstand shocks such as economic crises and natural disasters.

Decisive policy action is needed to ensure the world is not “plunged back into recession”, according to the OECD. The Organisation for Economic Co-operation and Development, which represents the world’s richest nations, also lowered its growth forecasts.

HONG KONG (CNNMoney) — Europe’s economy will contract next year and the United States will see slower growth than previously forecast, the Organization for Economic Cooperation and Development warned Tuesday.

Philippine stocks gained again on Tuesday, sending the benchmark index to a new high of 5,586.46, up 0.13 percent, as investors continued to take a favorable long-term view on local equities.

THE PHILIPPINE economy could grow by 5.3% next year, Citigroup, Inc. yesterday said, as public spending and low interest rates support consumption and investment.

PHILIPPINE GROWTH will likely be capped at 6% over the next two to three years given the weak global economy, economists yesterday said as they urged the government to boost development via other sources.

Invest in initiatives that help low-income groups Tycoon Jaime Augusto Zobel de Ayala has urged private enterprises to join the bandwagon on “inclusive growth,” saying business initiatives that help address inequality in the country can be profitable.

Big money is about to descend once again upon the media industry, if it hasn’t already. Election campaign seasons always bring the industry a windfall, via both legitimate political ads and illicit payments to buy favorable coverage from members of the press. The magnitudes are now so staggering that in the last election year of…