A GLUT of office space has hit the Philippines property sector as cash-hungry foreign companies cut back on their export of back-office operations, an international property consultant said Thursday.

THE International Monetary Fund (IMF) said it has downgraded its growth projection for the world economy for this year as the financial markets remain under stress despite the policy measures introduced to provide additional capital and reduce credit risks.

The Department of Labor and Employment (DOLE) today issued an advisory on the adoption of flexible work arrangements to guide employers and workers in the private sector in implementing mutually acceptable work schedules as a measure against the adverse impact of the global financial crisis.

President Barack Obama has broken down one of the two remaining social barriers in the world.

An additional year for college courses will not mean extra cost to students, but will give them time to prepare for life after graduation, chairman Emmanuel Angeles of the Commission on Higher Education said yesterday.

President Arroyo has ordered the creation of a committee that will recommend amendments to a law that created the Autonomous Region in Muslim Mindanao to move the negotiations on territory with the Moro Islamic Liberation Front forward, including full autonomy for the ARMM, expanding the coverage of the region, and relaxing wealth-sharing provisions without having…

ECONOMIC growth beat expectations in the fourth quarter as higher remittances helped sustain consumer spending.

THE global credit crisis triggered in the US has cut demand for office space in the Philippines, according to the local unit of CB Richard Ellis Group Inc., the world’s biggest commercial property broker.

Let me thank your associate editor, Ms. Marichu Villanueva for mentioning in her column (“Resolve,” 01/02/09) the farm-friendly measures that the Department of Agriculture (DA) is endorsing for congressional approval this year. As she had noted, one of the measures that the DA is supporting is new legislation amending the Agri-Agra Law, also known as…

The vote was 244-188, with Republicans unanimous in opposition despite Obama’s frequent pleas for bipartisan support.

The Department of Labor and Employment (DOLE) has doubled to P400 million its fund for the implementation of employment and livelihood assistance for the growing number of workers displaced due to the global economic crisis.

Motels in Manila and their patrons have reason to celebrate two weeks before Valentine’s Day.

A powerful explosion obliterated a fireworks factory in Cavite yesterday, killing at least five people and injuring 60 others.

Investments in the country’s business process outsourcing (BPO) industry is expected to reach $60 million this year as the Philippines remains the most stable country in the Southeast Asian region, international property services firm CB Richard Ellis (CBRE) said.

Rising unemployment would be a political nightmare for the Arroyo administration this year, posing a greater threat than potential external account weakness amid slowing exports.

The economy grew at its slowest pace in seven years in 2008 as the global financial crisis took a toll on services and industry while agriculture wilted from typhoon damage.      

Infra spending to ease demand woes–Citigroup   Nearly half-a-million Filipinos could lose their jobs, according to Citigroup. In a report, the US financial services giant said Philippine gross domestic product (GDP) is projected to grow 3 percent this year and recover to 4.6 percent next year. A proxy for a country’s economic output, GDP measures…

To move forward the peace negotiations with the Moro Islamic Liberation Front (MILF), President Gloria Arroyo has ordered the formation of a committee that would recommend amendments to a law that created the Autonomous Region in Muslim Mindanao (ARMM).

After a record economic growth in 2007, the Philippine economy slowed down last year because of the global financial crisis—but the rate was still better than expected.

Around 30 protesters marched to the Overseas Workers Welfare Administration (OWWA) in Pasay City yesterday to denounce the government’s failure to deliver promised assistance to overseas Filipino workers.

It has become common wisdom to say that our basic education cycle is too short. Only Botswana and the Philippines have 10-year basic education cycles; every other country has more. There is no question that we have to add years to the cycle.

The Makati Business Club (MBC) said yesterday that nine out of 10 of its members expect to feel the pinch of the global financial crisis this year.

Congress is looking at the possibility of setting up a regulatory body that will have jurisdiction over the rental housing sector to protect the rights of the renting public as well as lessors, Sen. Juan Miguel Zubiri said.

The Federation of Pre-need Plan Companies Inc. (FPPCI), which earlier warned of an impending collapse of the industry resulting from strict regulations and the global economic crunch, said the pre-need firms are liquid and will still be able to meet future obligations to planholders.

The Commission on Higher Education (CHED) has decided to junk the controversial memorandum order No. 5 or the new nursing curriculum in order to push through with the proposed “10 plus 2 plus 3 scheme” or the new Philippine Main Education Highway. In this scheme, students will have 10 years of basic education, two years…

Beginning February 15, the Commission on Higher Education (CHED) will start consultations with colleges and universities on its decision to raise nursing from a four-year to a five-year course. By the beginning of the new school year in June, CHED said it would start to implement the plan.

NURSES and caregivers from the Philippines are still expected to benefit from the Japan-Philippines Economic Partnership (JPEPA) despite the lingering global financial woes, an envoy said.

The Department of Health (DOH) reported a decrease in the number of Filipinos taking illegal drugs in the past several years, according to a statement Wednesday.

The national government should create an employment hotline for those affected by the global economic crisis, the National Economic and Development Authority (NEDA) said on Wednesday.

Up to 300,000 people could lose their jobs in the Philippines over the next six months as the global financial crisis deepens, Labor Secretary Marianito Roque warned on Wednesday.