Global Financial Crisis – Philippines

The government provided 75,000 jobs for unemployed Filipinos during the first quarter of the year under the Comprehensive Livelihood and Emergency Employment Program (CLEEP), an official said Monday.

MALALAG, DAVAO DEL SUR, Philippines—The global recession continues to hurt international shipping companies, forcing them to have their ships berthed in ports with lower fees, a port official said Saturday.

MANILA, Philippines — No amount of “stimulus package” from the government would be enough to help the poor at this time of crisis if individual Filipinos are not willing to do their part, according to Manila Archbishop Gaudencio Cardinal Rosales.

The effects of the global crisis on the employment of Filipino workers have bottomed out as displacements due to the crisis stood still with the return to their regular jobs of some 14,021 temporarily laid off workers and those under flexible work arrangements in 53 firms, the Department of Labor and Employment (DOLE) today said.

MANILA, Philippines – Businessmen are asking the government to delay a plan of opening up the local market by reducing taxes on imported goods.

Malacañang unveiled yester-day a program to double its cash handout program in the runup to next year’s national elections with 5 million Filipinos who supposedly belong to the poorest families to receive cash or health insurance benefits.

President Gloria Arroyo unveiled Thursday an ambitious P38-billion road project of the Metro Manila Tollways Corp. that would boost the government’s infrastructure development program and create more than 100,000 jobs during the five-year construction period.

MANILA, Philippines — Economic recovery should be on top of the county’s list of concerns notwithstanding the impending 2010 elections, charter change talks and various discussions of politicized issues, Philippine Chamber of Commerce and Industry (PCCI) president Edgardo Lacson pointed out.

MANILA, Philippines–The Business Process Outsourcing (BPO) industry gleams with hope during times of crisis, according to Philippine Chamber of Commerce and Industry (PCCI).

MANILA, Philippines — The Asian Development Bank said the Philippines would feel the pinch of the global crisis and growth would decelerate this year, but noted that the country would be in a much better position than most of its neighbors to cushion the impact of the turmoil.

THE Asian Development Bank (ADB) on Tuesday sees “uncertainty” in the implementation of the Philippines’ economic stimulus package due to issues surrounding the disbursement of funds.

Over 14,000 Filipino workers who were temporarily laid off and those hit by the flexible working hours as an effect of the global financial crisis have now gone back to regular employment, the Department of Labor and Employment said in a statement Monday.

World Bank said remittances by overseas Filipino workers (OFWs) are likely to post a modest drop this year because of job lay offs, as it cited a larger basis for the projected remittances that included non-cash flows.

MANILA, Philippines – Workers nationwide can look forward to better days, the Department of Labor and Employment said yesterday.

CITY OF SAN FERNANDO – Majority of 200,000 college students and their parents in Central Luzon will enjoy a respite from increases in tuition and other fees in school year 2009-2010.

CLARK FIELD—Over 121,000 Filipino workers have either lost their jobs or suffered pay cuts or reduced work loads because of the economic crisis, according to a Labor Department official.

CLARK – Over 121,000 Filipino workers have either lost their jobs or suffered pay cuts or reduced work loads because of the economic crisis, a government official said Sunday.

MANILA, Philippines – The Asian Development Bank (ADB) said the Philippines is dealing with the global financial crisis better than most countries in the Asia Pacific region.

The most stubborn kind of poverty is that passed down from generation to generation. The poorest Filipino households are those whose heads have the barest formal education—or none at all. And they transmit their poverty, as a kind of negative inheritance, to their children and grandchildren.

12,000 overseas workers laid off–Labor official The economic crisis has cost over 121,000 Filipino workers their jobs, pay cuts or reduced work loads, a government official said on Sunday.

TOP companies raised by a fifth the cash reward for their owners last year amid an economic slowdown that has seen more firms slash jobs.

AS a result of continued inflows of remittances, the Philippines remain largely stable to render support for consumption demand, according to the 2009 Economic and Social Survey of Asia and the Pacific.

Not all Filipino workers who lost their jobs as a result of the global financial crisis are considered “permanently displaced,” according to an official of the Department of Labor and Employment on Friday.

Local advertising expenses went down by 20 percent to 30 percent because of the global economic downturn, according to an official of the Philippine Association of National Advertisers (PANA).

SAN JUAN, Batangas—The government will spend P100 million to shoulder half the minimum wage of thousands of workers who would otherwise be laid off by the electronics industry as a stopgap measure to prevent further job losses, President Arroyo said yesterday.

MANILA, Philippines—President Gloria Macapagal-Arroyo has announced an incentive for workers who lost their jobs in the electronics industry.

MANILA, Philippines — The Philippine economy’s ability to avoid the contagion of the global economic crisis has been eroded by its dependence on exports, but income remittances from overseas Filipino workers (OFWs) may mitigate this, according to a United Nations report.

ROSARIO, CAVITE – While dozens of workers are losing jobs at the Cavite Economic Zone Authority (CEZA), hundreds are going to be hired soon as more investors are coming in, according to CEZA authorities.

Most export companies inside the Mactan Export Zone (Mez) are not doing as badly as projected in the global economic crisis.

MANILA (Reuters) – Like millions of Filipinos, Alma Ang left her homeland to work abroad for a salary far higher than she could have ever earned at home.