NTUC Blog

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.

Asian Migrants Coordinating Body (AMCB) spokesperson Dolores Balladares told GMANews.TV in a phone interview that Hong Kong’s Legislative Council shot down an amendment to the proposed Statutory Minimum Wage (SMW) that would have included foreign domestic workers.

Any administration or government that actually thinks they can live up to the expectations of today’s Filipinos have to be men and women of absolute faith or are absolutely insane.

MANILA, Philippines – The International Monetary Fund (IMF) upgraded anew yesterday the Philippines’ economic outlook for this year after the stronger-than-expected gross domestic product (GDP) growth in the first quarter of the year.

MANILA, Philippines – President Benigno Aquino III said his administration will make the country more attractive for investors.

CEBU, Philippines – A libel case was filed before the Regional Trial Court against two labor union leaders who allegedly made defamatory remarks last year against the late Luis Alfonso Y. Aboitiz.

MANILA, Philippines – Contrary to public perception, even members of the militant bloc of the House of Representatives belong to the millionaires’ club, based on their annual statements of assets, liabilities and net worth. Representatives Satur Ocampo of Bayan Muna and Liza Maza of women’s group Gabriela – who both lost in the May 10…

PHILIPPINE economic managers on Tuesday revised the country’s economic growth target to a range of 5 percent to 6 percent from the earlier 2.6 percent to 3.6 percent. Finance Secretary Margarito Teves said the major drivers of expansion would be consumption, investments and exports.

Here’s something to think about as we celebrate our Independence Day: the “trilemma” between democratic government, free markets and the processes of globalization. The notion of a “trilemma” has emerged among commentators on the evolving financial crisis in Europe. It refers to the apparently irreconcilable qualities of the three elements characterizing the modern nation-state.

MANILA, Philippines — The Philippine Chamber of Commerce and Industry (PCCI) has submitted to President-elect Benigno Aquino III a 100-day economic road map that aims to help the new administration fulfill its own economic agenda.

COMBINED profits of listed companies ballooned by more than three-fourths to P357.84 billion last year due mainly to one-time gains and some improvements in performance, the stock exchange said yesterday.

MANILA, Philippines – The European Union (EU) and the Philippine government have agreed on the final text of a partnership and cooperation agreement (PCA) between the two parties, EU Ambassador Alistair MacDonald said yesterday.

MANILA, Philippines – Monetary authorities said over the weekend that inflation would no longer hit six percent this year in light of lower oil prices, stable commodity prices, cheaper power and water rates as well as the stronger peso.

“Fantastic” corporate earnings in the Philippines will drive stock valuations back toward levels in December, when multiples touched the highest in almost two years, according to ATR KimEng Asset Management Inc.

The Bangko Sentral ng Pilipinas (BSP) said the timing and amount of wage increase is crucial to revisiting its baseline inflation forecast for this year and 2011.

Japanese companies have raised the high local electricity prices, the lack of infrastructure and the need to improve the tax refund system between Japan and the Philippines as among the major constraints to the exchange of benefits under the Japan-Philippines Economic Partnership Agreement (Jpepa), the first free trade agreement for the country.

About 11 million Filipino households remain without access to the banking system, Bangko Sentral Gov. Amando Tetangco Jr. said Monday.

AS in past election years, the Philippine economy surged in the first quarter of this year with a 7.3-percent growth, driven by the massive spending that accompanies every election, whether from government or otherwise. Also a factor but to a lesser extent has been the general recovery in rich economies from the global financial crisis,…

MANILA, Philippines – The country’s merchandise imports climbed by 38.9 percent to $4.543 billion in March from $3.270 billion in the same period last year as payments for electronics surged by 35.4 percent during the review period, the National Statistics Office (NSO) reported yesterday.

MANILA, Philippines – The ratio of non-performing loans (NPL) of universal and commercial banks to the industry’s total loan portfolio continued to improve as of end-March this year as corporate and individual borrowers were able to pay their outstanding financial obligations on time, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.