Displaying all posts for Economy

US financial woes become personal to Filipinos

LALA RIMANDO – The fate of Wall Street luminaries became a personal concern to Filipino investors this week. News about bankrupt Lehman Brothers triggered locales to ask how safe is their money invested in the insurance policies and in local banks and if their pension is still intact.

ADB warns no quick solution to high food prices, fuel costs

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MANILA (AFP) — The high prices of food worldwide are not likely to fall any time soon, and there are no quick solutions to the problem, the Asian Development Bank (ADB) warned Tuesday. “Scarcity is back, hunger is growing, and rapid economic growth is threatened. These are difficult times,” the Read more »

OFW inflows seen to hit $16 B this year

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By DES FERRIOLS The Philippine Star Given the steady demand for labor especially in the Middle East, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said he expected remittances from overseas Filipino workers (OFWs) to grow more than originally projected this year.

Working abroad still most Pinoys’ choice to cope with difficult times

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Several economic crises have swept over the country and Filipinos time and again fought and emerged survivors. But unlike two decades ago when they took to the streets in desperation because of the twin impact of soaring inflation and shrinking growth, Filipinos, who are now faced with a similar situation, Read more »

75% of Pinoys say they are worse off than in 07

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GMANews.TV – MANILA, Philippines – Seventy-five percent of Filipinos believe they are living a more difficult life now than a year ago while two in three (64 percent) Filipinos are pessimistic that their lives would improve in the next 12 months.

The Sacred VAT

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BY BENJIE OLIVEROS – There is a growing clamor for the removal of the VAT on petroleum products to ease local prices, especially since it adds from P4 to P6 peso to pump prices. Just recently, the Catholic Bishops Conference of the Philippines echoed the same demand.