Archive for the ‘Social Protection’ Category

Kristine L. Alave
Philippine Daily Inquirer
MANILA, Philippines—Overseas Filipino workers (OFWs) view the government Overseas Workers Welfare Administration (OWWA) with distrust and are largely uninformed about what the agency is supposed to do for them, a survey by a migrant labor group showed.
The findings were released Friday by the Center for Migrant Advocacy (CMA) which conducted the [...]

Iris C. Gonzales
Philippine Star

Major government financial institutions (GFIs) intend to reinvest the proceeds from the planned sale of their stake in Manila Electric Co. (Meralco) in other stocks, particularly in the geothermal sector, and to fund priority loans, top officials said.
Land Bank of the Philippines, Social Security System (SSS) and the Development Bank of the [...]

Philippine Star
The Trade Union Congress of the Philippines (TUCP) favors the planned P10-billion contribution of the Social Security System (SSS) in the proposed P100-billion public-private crisis fund meant to help stimulate the national economy and keep the country from being dragged down by a menacing global recession.
However, TUCP secretary-general and former Senator Ernesto Herrera stressed [...]

Daxim Lucas
Philippine Daily Inquirer
Philippine mutual funds have been pummeled by the global financial crisis, with those of Philam Asset Management Inc. and the Government Service Insurance System (GSIS) among the hardest hit, according to an industry report.
The latest report of the Investment Company Association of the Philippines (ICAP), which tracks the performance of 40 mutual [...]

Paolo Romero
Philippine Star
Filipinos facing foreclosure can now save their homes through a rational loan restructure and condonation scheme after President Arroyo signed into law the Socialized and Low-Cost Housing Loan Restructuring and Condonation Act of 2008 yesterday.
Mrs. Arroyo signed Republic Act 9507 in Luisiana town, a fifth class municipality and site of the launching of [...]

Ernesto F. Herrera
Manila Times
The Philippine economy is already seeing the effects of a global economic slowdown through a decrease in foreign investments flows.
The Bangko Sentral ng Pili–pinas (BSP) reported that net foreign direct investments from January to July dropped 60.2 percent and was less than half the $2.41 billion generated during the same period last [...]

Philippine Star
The country’s largest labor group yesterday questioned the equity stakes of the Government Service Insurance System (GSIS) in at least three Indonesian banks, which should have been invested in the country.
The Trade Union Congress of the Philippines (TUCP) also cited the pension fund’s acquisition of shares in the fifth-largest US bank.
“We have nothing against [...]

Fel V. Maragay
Manila Standard
Isn’t it odd that former Senator Ernesto Herrera, secretary general of the Trade Union Congress of the Philippines, is so outspoken and persistent in compelling the Government Service Insurance System to make a full disclosure of the overseas investment of the pension fund of state workers when this hardly falls under the [...]

Dan Mariano
Manila Times
Winston Garcia, president and general manager of the Government Service Insurance System (GSIS), seems to have finally bowed to public pressure for him to disclose details of the state pension fund’s $1-billion Global Investment Program (GIP). The operative word here is “seems.”
Garcia did so by placing expensive, double-spread newspaper ads—paid for with money [...]

Manila Times
The Trade Union Congress of the Philippines (TUCP) on Sunday questioned the Government Service Insurance System (GSIS) equity in at least three Indonesian banks, but cited the fund’s acquisition of shares in a US bank.
In a statement, union Secretary-General Ernesto Herrera said they have nothing against Indonesian banks, but the said GSIS should have [...]