NTUC Blog

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) is lukewarm to the proposal of legislators to regulate the interest rates imposed by credit card companies as this could unduly weaken the credit transmission power of monetary policy.

The Securities and Exchange Commission (SEC) is convinced that loose-credit standards rather than the absence of a credit-rating agency are the driving force behind the high incidence of loan defaults among credit-card borrowers.

The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest trade group, is supporting a proposal for a 12-year primary and secondary schooling for children under the K-12 program of the Aquino administration.

“Innovation is a new way of doing things that results in positive change,” writes Carmine Gallo, author of a new book called The Innovation Secrets of Steve Jobs: Insanely Different Principles for Breakthrough Success (McGraw-Hill). Innovative businesses and entrepreneurs drive the kind of job creation needed to power us out of the lingering economic doldrums.…

Nonetheless, call-center agent Jerson Beltran, who said that he neither smokes nor uses any prohibited substances and hardly drinks (except on special occasions), stressed that having vices depends entirely on an individual’s personal choices. Another business process outsourcing (bpo) employee, who spoke on condition of anonymity, ranted on the findings, saying: “[Many] call-center workers do…

I sat as a panelist in a round-table discussion on the mismatch problem at the annual conference of the Call Center Association of the Philippines last week. We had a very insightful exchange and I would like to synthesize the points of discussion in this column.

IAM not an authority on Catholicism but I am a practicing Catholic. I may not know as much about my faith as a theologian or my priest but I do believe in the Apostles Creed, which, if I recall my religion classes correctly, is the profession if not summation of our faith, of what we…

By all accounts she should have simply crumpled and died. Given what she lost she had every reason to be angry at the world and at the Creator himself. But she didn’t. Like a mangled lamb spared from the slaughter, she said “I was just at the wrong place at the wrong time”. But was…

Today: sana may programang gawin ang mga bishops sa lahat ng kanilang parishes: example, sa bawat lampas sa 3 o 4 na anak kada pamilya, bukod sa magandang pangaral, ang simbahan ang (1) magpapakain ng masustansya at masarap sa mga bata (2) magbabayad sa dental, optical at medical expenses ng mga bata at (3) magbibigay…

THE International Monetary Fund (IMF) said credit rating agencies and their rating methodologies may have inadvertently contributed to financial instability. In a report, the IMF said credit ratings influenced market prices, and that downgrades through the investment-grade barrier trigger market reactions, which were seen in the wake of the sharp downgrades of structured finance products…

According to Forbes maga-zine, the richest Filipinos and their respective networths are: 1. Henry Sy Sr., $5 billion; 2. Lucio Tan, $2.1 billion; 3. John Gocongwei, $1.5 billion; 4. Jaime Zobel de Ayala, $1.2 billion; 5. Andrew Tan, $1.2 billion; 6. Tony Tan Caktiong, $980 million; 7. Enrique Razon, $975 million; 8. Beatrice Campos, $840…

We played a new game at the Tuesday Club yesterday. It is called Can You Believe What Your Favorite Tycoon Paid in Taxes? Tony Lopez brought the latest issue of his magazine, Biz News Asia, whose cover story is entitled Heroes, or the list of the top 500 taxpayers based on 2008. Tony said he…

Does your credit card charge you interest and penalty of more than a percent each per month? If yes, then know that you are being overcharged. The Supreme Court had so ruled last year unanimously in a division. It called “exorbitant, iniquitous, excessive” exactions on credit cards above one-percent interest and one-percent penalty, or a…

SEN. Ralph Recto the other day raised a question I have been harping on for quite some time: Isn’t it better for the Government Service Insurance System (GSIS) to commit more investment funds here at home, primarily in highly profitable and badly needed infrastructure projects, instead of stashing more money overseas? Could the GSIS not…

OSLO—The heads of the International Monetary Fund (IMF) and the International Labour Organization (ILO), along with other leaders, today called for a broad international commitment to a jobs-focused policy response to the global economic downturn. At a historic conference in Oslo—hosted by Prime Minister Jens Stoltenberg of Norway and co-sponsored by the IMF and ILO—leaders…

Luisa Blue is the new president of the Asian Pacific American Labor Alliance (APALA). She succeeds John Delloro, who died unexpectedly of a heart attack last June. Blue was first vice president of APALA, one of six AFL-CIO constituency groups.

MANILA, Philippines – In a bid to lure more investments into the country and generate more employment, the government is now moving to ease regulations on commercial establishments.

A recent comparative survey of investment-related costs in the Asian region conducted by the Japan External Trade Organization (JETRO) showed Manila as being among the most cost-efficient business location.

Filipinos and the young, single and independent top the list in the region of consumers planning to save more, according to the latest MasterCard survey on consumers’ saving priorities.

MANILA, Philippines – The real lending rate in the Philippines went up in the second quarter due to the continued decline in the inflation rate amid the steady nominal bank lending rates, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.

The following are the latest comparative power rates in Asia, culled by the National Association of Electricity Consumers for Reforms (Nasecore) in US$/kWh terms, which we presented in our recent Global News Network (GNN) program on the subject, “Meralco Caught Overcharging Again:”

MANILA, Philippines – Monetary authorities believe that the country’s domestic output as measured by the gross domestic product (GDP) could grow in double-digit levels if the administration of President Aquino is able to put in place much needed physical infrastructure and at the same time develop human capital to pave the way for the entry…

Flag-carrier Philippine Airlines (PAL) yesterday said it had to cancel several domestic and international flights after some of its pilots quit without giving enough notice.

Reflecting on reports about what President Benigno Aquino III will declare as the State Of the Nation or SONA, I am reminded of a “prayer” that was written by, or written for young people who have not fully come of age in terms of wisdom.

The nation’s labor force is it’s most productive assetRepublicans favor the minimum wage — the smaller the minimum wage, the better. — Harry S. Truman, 33rd President of the United States (1943-1953)

I wrote this piece in July 2004 in the hope that Gloria Macapagal Arroyo would listen and use it in her State-of-the-Nation Address. She didn’t, it can all be said again, with some amendments to bring it up to date and adapt it better to a new president. Let’s hope I won’t be able to…

THE Aquino administration wants to collect more taxes by cracking the whip on sari-sari store owners, market vendors, and the estimated 40 percent of Filipinos who work in the underground economy.

MANILA, Philippines – The aggregate net earnings of listed firms in the first quarter this year surged 113.9 percent on improved performances across all sectors, data released by the Philippine Stock Exchange (PSE) showed.

MANILA, Philippines – The government must remove focus on the grant of incentives as investors are more interested on the ease of doing business in the country, an Asian Institute of Management (AIM) official said.

MANILA, Philippines – Business executives in the Philippines are most insecure that their operations might move to other countries.