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Chancellor Darling calls for pay restraint

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Darling calls for pay restraint Chancellor Alistair Darling says pay rises for people "from the boardroom to the shopfloor" need to be "consistent" with the 2% inflation target.

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IBON to Aquino: Resist Pressure on New Taxes

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MANILA -- The new administration is challenged to put forward pro-people initiatives to address the fiscal crisis, but front-running presidential candidate Sen. Benigno 'Noynoy' Aquino has yet to take a strong progressive position on the country’s fiscal problems, said research group IBON.

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Global economic crisis wipes off $50 trillion

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MANILA (March 13) -- As a result of a worldwide economic meltdown, it erased an astounding US$50 trillion off the value of financial assets in 2008.  This includes $9.6 trillion of losses in developing Asia alone, the Asian Development Bank said.

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IBM center to help RP move up BPO chain

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MANILA -- Janet Klein, director for developer relations at IBM Asia Pacific, disclosed at a recent media event that IBM Philippines will open its first Innovation Center in the country – and second in Asia – at the UP-Ayala Techno Park in Quezon City.

Charles Manuel, Klein’s focal person in Southeast and South Asia, said the facility is intended to become a hub of activity for students, professional developers, and partner organizations.

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RP Jobs, Quality of Work in 2009 Worst in 50 Years

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MANILA --  The country’s employment and quality of work was at its worst in 2009, with around 64.4% to 81% of the 39.4 million-labor force in 2009 either jobless or in poor quality work. Its true unemployment rate of around 11% counting 4.32 million jobless Filipinos puts the Philippines in the worst crisis of joblessness and of poor quality work in its history.

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Fuel move boosts Chinese shares

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Fuel move boosts Chinese shares Chinese shares have closed 3% higher after the government raised energy prices in an effort to cool the nation's rising energy consumption.

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Europe split over oil price plan

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Europe split over oil price plan European Union leaders have agreed to a 3-month study to find ways of cushioning the impact of soaring energy prices on the region's citizens...

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Filipino sailors' remittances up $366-M in 2009

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MANILA -- Filipino sailors aboard foreign ocean-going vessels wired home a total of $3.4 billion in 2009, up $366 million or 12.06 percent from $3.034 billion in 2008, the Trade Union Congress of the Philippines (TUCP) reported over the weekend.

TUCP secretary-general and former Senator Ernesto Herrera said Filipino sailors based in Europe remitted $1.156 billion last year, up $509.594 million or 78.82 percent from $646.406 million in 2008.

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RP is recognized best economy in Asia

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MANILA (March 27) -- Press Secretary Cerge Remonde said this morning that the Philippines is now being recognized as one of the best performing economies of Asia because of President Arroyo’s economic and fiscal policies.

In an interview with Radyo ng Bayan, Remonde cited Business World’s report showing that “the peso has outperformed most emerging market currency so far this year and is likely to prove a strong value in 2009 as the Philippine economy is least vulnerable to the factors of hammering markets elsewhere.”

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