philippine news

Dec 30, 20081

Winners, Lossers in Financial Crisis

Cris Evert Lato
Cebu Daily News

CEBU CITY, Philippines – About 30 percent of overseas Filipino workers (OFWs) are working in the United States, according to research group Ibon Foundation.

At least 52 percent of OFW remittances come from the … Read the rest

Dec 29, 20080

DOLE to hold talks on layoffs

Kristine L. Alave
Philippine Daily Inquirer

MANILA Philippines—The Labor department will conduct surveys and meetings with companies in export zones next month to gain a full picture of how the global credit squeeze affects them and to craft a plan … Read the rest

Dec 29, 20080

Gov’t says export sector jobs at risk

Agence France-Presse
Inquirer.net

MANILA, Philippines — Jobs in the Philippines’ export sector will be at risk next year as the global financial crisis worsens, Labor Secretary Marianito Roque warned Monday.

His comments came after Texas Instruments, one of the largest … Read the rest

Dec 29, 20080

Roque: Wage increase unlikely in 2009

Kristine L. Alave
Philippine Daily Inquirer

MANILA, Philippines—A wage increase next year is unlikely as pressures on the pockets of workers appear to be easing, Labor Secretary Marianito Roque said.

In an interview recently, Roque said there will be a … Read the rest

Dec 28, 20080

Toledo Mining lays off 90% of workforce (Cites drastic cut in nickel demand)

Ronnel Domingo
Philippine Daily Inquirer

MANILA, Philippines – Toledo Mining Corp. said it had laid off some 600 workers and contractors while some directors took pay cuts as dampened demand took its toll on nickel operations in the Philippines.

According … Read the rest

Dec 28, 20081

Foreign debt stock fell to $53.5B in Q3

Philippine Daily Inquirer

MANILA, Philippines – The Philippines’ foreign debt burden fell by $1.3 billion in the third quarter to $53.5 billion from $54.8 billion in the previous quarter, as local borrowers reduced their foreign currency exposure in view of … Read the rest

Dec 28, 20080

A puzzling economy

Cielito Habito
Philippine Daily Inquirer

MANILA, Philippines – Ever notice how our economy has been behaving strangely lately? The latest strange (but welcome) behavior is how job generation based on the last two quarterly Labor Force Surveys (July and October … Read the rest

Dec 28, 20081

DOLE notes industrial peace in 2008 (Strikes at lowest in 4 decades–Roque)

Jerome Aning
Philippine Daily Inquirer

MANILA, Philippines–The Department of Labor and Employment regards 2008 as another year when industrial peace “reigned,” with only only five strikes recorded, the lowest in the seven decades of the agency’s existence.

DOLE’s year-end report … Read the rest

Dec 27, 20080

Hike in GSIS, SSS pensions pushed

Michelle Remo
Philippine Daily Inquirer

The Government Service Insurance System (GSIS) and the Social Security System (SSS) have been urged to consider raising the monthly pension received by its retired members as one way to help stimulate household spending given … Read the rest

Dec 27, 20080

Banks’ exposure in property hits P224B

Doris Dumlao
Philippine Daily Inquirer

The exposure of Philippine commercial banks to the real estate sector expanded in the third quarter despite the worsening US property downturn that triggered a global financial turmoil, the central bank reported.

It reached P223.9 … Read the rest

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