By Satur C. Ocampo At Ground Level | The Philippine Star A week before Christmas, news reports on the country’s economic prospects — coming from the government, the Bangko Sentral, and two international credit-rating agencies — are uniformly upbeat: the economy will not only stay within growth targets, but the Philippines will “outperform” its Southeast…
Tags: Bangko Sentral ng Pilipinas
Banco Filipino Employees Protest ‘Illegal Lay-off’ in The Wake of Bank Closure
By INA ALLECO R. SILVERIO Bulatlat.com The alliance of workers and various cause-oriented groups Defend Job Philippines is backing the fight of employees of Banco Filipino Mortgage Bank against what they said was unjust and inhumane lay-off. Banco Filipino employees held a protest recently in front of the Bangko Sentral ng Pilipinas (BSP) in protest…
Wage Increases, Inflation, and Factory Closures
Time and again the specter of inflation and factory closures are being raised every time a wage increase is in the offing. And it is terribly insulting to workers that again this is being raised even if the wage and allowance hike being floated for workers in Metro Manila is a mere pittance at P20…
Strong Peso Fails to Benefit Consumers
A strong peso is supposed to benefit consumers through lower prices of goods and services. Why is this not the case at this point? BY DANILO ARAÑA ARAO Bulatlat.com In the first quarter of this year, President Gloria Macapagal-Arroyo stressed that the people can benefit from a strong peso through lower prices of goods and…
More Taxes, Less Services this Year
BY ALEXANDER MARTIN REMOLLINO Bulatlat.com The government, said Bayan Muna (People First) Rep. Teddy Casiño, may impose additional taxes to raise the income needed to finance this year’s proposed P1.053 trillion ($20,371,445,153) national budget. In the 2006 proposed budget, the real value of the proposed budget for education and health decreased while that for debt…
Increase in Remittances Due to More OFW Deployments Crisis, dwindling opportunities driving more Filipinos abroad – Migrante
Both a Filipino migrants’ leader and the top executive of the Bangko Sentral ng Pilipinas say that the increase in remittances from overseas Filipino workers (OFWs) this year is due to the increase in the deployment of workers and professional for overseas jobs. This, in turn, is due to the economic crisis ailing the country.…