Chiz Backs Extension of Agrarian Reform Law

 

Sen. Chiz Escudero reiterates his support for the extension of the agrarian reform law during a regular forum of the Catholic Bishops Conference of the Philippines (CBCP) and the Catholic Media Network (CMN). With Escudero are writer Augusto Lagasto, center, and Monsignor Pedro Quitorio III, left, CBCP spokesperson.

 

Gov’t Economist Says Middle East Guide to Crisis’ Impact on OFWs

Pinoys abroad and the Global Economic Crisis
 
Gov't Economist Says Middle East Guide to Crisis' Impact on OFWs
 
 
by JEREMAIAH M. OPINIANO and ISAGANI DE LA PAZ
www.ofwjournalism.net
 
 
PASIG CITY. Philippines—AS the plane nosed down to its landing in Dubai, economist Josef Yap sensed a portent of things to come for Filipino workers in the Middle East and the labor export industry.
"These are the scenes of the Asian financial crisis of 1997," Yap recalled saying to himself and to three other Southeast Asian economists during that visit in the financial capital of the United Arab Emirates.
He said his colleagues agreed especially after seeing and walking inside high-end shopping malls and knowing the price tags of a day's stay in Dubai's luxury hotels.
Yap, president of the Philippine Institute for Development Studies (PIDS), said in a forum on Asian labor migration by the Scalabrini Migration Center early this year he wondered how cash-strapped Westerners can afford staying in these places during these trying times.
Those sights of the region's economic progress can lead to an economic crisis that is "waiting to happen" in the Gulf region, Yap added during the forum on labor migration statistics.
An International Labor Organization estimate supports Yap's view.
According to its 2009 Global Employment Trends Report, the ILO estimates the Middle East's gross domestic product growth rate will go down to 5.1 percent this year from an estimated six percent GDP growth last year.
The report also estimates the Middle East, composed of 16 countries, posted the second highest unemployment rate among the world's regions with 9.4 percent last year.
Yap opines that not even the region's petro-dollars can avert a looming economic crisis in the Middle East, especially with world oil prices reversing its last year's upward jolt.
In a statement last February, the International Monetary Fund said the Gulf Cooperation Council nations and oil exporting countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region will post growth at 3.6 percent this year, down from 5.6 percent in the previous year.
"For the oil exporters, the decline in oil prices and Organization of Petroleum Exporting Countries (OPEC) production cuts are projected to reduce oil export receipts by almost 50 percent in 2009. This implies a loss of government revenue to the tune of US$300 billion compared to 2008," the statement quoted director Masood Ahmed as saying.
MENAP oil-exporters include Algeria, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Sudan, United Arab Emirates, and Yemen.
These numbers spell bad news to an estimated two million Filipinos working in the Middle East and their families relying on their monthly cash remittance.
 
Hold up
RECENT data, however, from the Bangko Sentral ng Pilipinas, the Philippines's central bank, gives a pound of hope that the Middle East countries are still holding up against the weight of a global financial collapse that forced advanced economies to declare recession in their respective economies.
Cumulative remittance last year from OFWs in 16 Middle East countries posted a 15.2-percent growth to US$2.5 billion, or $3.3-billion higher than the previous year's remittance of $14.4 million.
Land-based Filipino workers there sent $2.4 billion from January to December, according to the BSP data, while sea-based workers sent home nearly $20 million in the same period last year.
Remittances from the UAE, specifically, also posted a double-digit growth rate to $621 million or $91-million more than what was recorded Filipinos sent back to the Philippines in 2007.
Only Qatar and Kuwait posted declines in remittances –Kuwait-based workers sent home 25-percent less to $125 million while Qatar-based workers sent 7.5-percent less than the $133 million in 2007.
Government estimates there are 139,803 Filipino workers in Kuwait while 195,558 are in Qatar.
Remittance rates posted declines in six of 11 months last year, the biggest recorded in April (-23 percent) when world oil prices spiked nearly $100 a barrel. Dubai crude, for one, hit $95.08 in April 2, 2008 (see http://www.petron.com/pops/pricewatch.asp?cat=Crude&yir=2008)
The second-lowest month-on-month drop was recorded in October at nearly 18 percent, when world oil prices began tapering down up to $56.42.
Notably, the February 2009 cumulative year-on-year remittance level of 2.5 percent was the lowest in six years since 2003. The second-lowest was in February 2004, when the level was at 5.6 percent.
This means that while remittances from an estimated eight million Filipinos in 190 countries was bigger at $2.6 billion in February this year, it was just an inch above the $2.2 billion posted in the same month last year.
Of the eight countries that the BSP cited in its statement as major sources of remittances for the first two months of the year, two are in the Middle East: Saudi Arabia and the UAE.
Last year, full-year remittances from Saudi Arabia posted a growth rate of 21.5 percent to nearly $1.4 billion, the largest among the 16 countries.
BSP Governor Amando M. Tetangco, Jr.  was quoted in the statement as saying remittances "have been holding up as deployment of overseas Filipino workers has risen during the first two months of the year while the increase in the number of reported layoffs has slowed down."
 
Mixed, up
SOME industry players offer mixed views on the impact of an impending slowdown in Middle East economies to overseas Filipino workers (OFWs) in the region.
The Philippine Overseas Employment Administration (POEA) reported that some 1,376,823 land- and sea-based overseas workers were deployed in 2008, but no figures per region of destination are available.
Last year, however, the country deployed lesser numbers of new-hire overseas workers to the Middle East with 203,572 (lower by 4.9 percent to the 214,360 deployed new hires in 2006), according to POEA data.
On a per-country basis, comparing 2006 and 2007 figures of deployed new hires, deployment grew in Middle East destination countries such as Saudi Arabia (by 6,892 new hires), the United Arab Emirates (5,395 new hires), and Qatar (1,742 new hires).
Meanwhile, new-hire deployment dropped in Kuwait by 12,192 workers.
Still, recruiters look at the Middle East labor market as rosy for Filipino workers.
Health workers remain needed in Saudi Arabia, said president Victor Fernandez of the Philippine Association of Service Exporters Inc. (PASEI), even as he thinks construction projects in the Middle East "may be delayed".
"The supply of construction workers to the Middle East can be a problem during these times," Fernandez said during the same forum where Yap spoke.
For his part, former overseas worker Loreto Soriano, president of LBS e-Recruitment Solutions, still believed in the market potentials of the Middle East. The region "needed thousands of construction workers," says Soriano, citing data from the Federated Association of Manpower Exporters where he is president.
Soriano points out there is a need for increased deployment of workers in Libya "due to its growing economy," again based on his group's data.
But while most of the 5,036 displaced overseas Filipino workers (as of January) come mostly from Taiwan's electronics sector, 298 OFWs from the UAE got displaced.
As of January 28 also, the departure of some 85 UAE-bound workers who are scheduled to begin their work in the country's services and electronics sectors "has been put on hold," POEA's running data on the global economic crisis show.
Taiwan and the UAE are the top two sources of displaced OFWs in recent months, based on government data.
The ILO projects that if the unemployment rates in the developed economies and in the European Union rise because of the global crisis, the Middle East's unemployment rate may reach 11 percent —affecting eight million workers (including foreigners).                                                                                                                                                 OFW Journalism Consortium

RECTO URGES DEV'T PARTNERS TO SUSTAIN AND INCREASE ODA

Socioeconomic Planning Secretary Ralph Recto urged donor partners to sustain and increase official development assistance (ODA) to developing countries amid the global economic crisis.

Speaking at the recent Asia-Europe Meeting Development Summit on Sustainable Development at the Mandarin Oriental Hotel in Makati City, he renewed the "call for a sustained and increased ODA from developed countries, not despite but because of, the global economic crisis."

Recto, who is also Director-General of the National Economic and Development Authority (NEDA), added that the ASEM could be a venue for donor partners to "reassure developing countries that our development partners will indeed deliver even more in these extraordinary times"

He reminded them of the commitment put forward in Beijing and at the Millennium Summit in New York in 2000, as well as various international meetings last year. "Developed countries committed to allot at least 0.7 percent of gross national income for ODA, but many nations have yet to deliver on this target," Recto said.

The NEDA official said developing countries like the Philippines are concerned that ODA will soon begin to dry up as more donor countries are pressured to spend funds domestically for fiscal stimulus programs.

"Past experience shows that ODA levels are easily affected by economic cycles, and since a number of economies appear to be near or at the bottom of that cycle, we are concerned that ODA from development partners such as Japan and Europe will become scarcer. The stimulus packages that Japan and many European countries recently passed could also divert funds for ODA towards domestic spending," Recto said.

 

 

-VG

RP Firm Redefines Software Provision

Supply Chain Consulting Leading Software Provision and ROI

 

(Manila, Philippines--The IT services market in Asia Pacific will grow from US$37.5B in 2007 to US$55.9B in 2011, representing a compounded annual growth rate of 10.5% from 2006 to 2011, according to a report done by Springboard Research, a leading innovator in the IT Market Research Industry.

 

The Asia Pacific IT services market is currently leading growth in IT services. In response, software solutions and services providers are ramping up product offerings, especially to the information and communications technology industry, which is expected to increase revenues by 29%, to US$5.1 billion. Supply Chain Consulting is the leading provider of enterprise applications locally, providing global SAP and Oracle software and support services for all its customers. In addition, the company also offers functional and technical support for SAP services with Application Services Management (ASM). The software and service solution is a cost-efficient investment that removes the responsibility of software and resource management from the company and into Supply Chain Consulting.

 

"Rising IT costs correspond to a larger portion of company budgets and ongoing management of applications continue to consume valuable resources. ASM provides business benefits such as cost savings, improved planning, resource management, and most importantly access to senior application specialists.  ASM can also pave the way for the faster realization on the return on investment," Supply Chain Consulting's Technical and Support Director, Brad Jackson stated.

 

In today's competitive business climate, organizations continually explore options on how they can optimize their resources and promote business efficiency. According to industry experts, payroll for technical staff is often the main operational cost in running an enterprise software solution. ASM can help customers optimize their performance with solutions that allows them to stretch their resources and enable them to realize their benefits faster. Supply Chain Consulting has the capability to provide customers with business solutions that deliver tangible results.

 

"We have been in the software services industry for at least a decade and our depth of experience and technical knowledge proves to be an advantage. Our success has allowed us to continually develop solutions to enhance our support services. The strength of our services are the combination of expertise and business process management. We guarantee our quality and performance in our service level agreements. We provide the management structure to extend these high-value support services to our customers because we are confident in a positive return of their investment," Jackson added.

 

About Supply Chain Consulting

Supply Chain Consulting is a global provider of enterprise software solutions and services. The company delivers innovative solutions to meet the needs of today's enterprises. Supply Chain Consulting's product portfolio includes ERP qualified Oracle and SAP solutions; Viewlocity™ supply chain visibility and optimization software; and CarbonView™, the world's leading proactive carbon management solution. For more information about Supply Chain Consulting, please visit its website at http://www.supplychain-consulting.com.

 

Chiz urges PNP to arrest polluters

Opposition Senator Chiz Escudero wants the Philippine National Police (PNP) to run after polluters and violators of environment laws.

 

"The PNP should take the lead in enforcing our environment laws, especially when it comes to littering and dumping of garbage in our waterways," Escudero said.

The senator noted that "green courts" have already been established in the country, and the PNP will have to work double time in enforcing environment laws.

 

"The indiscriminate dumping of garbage on canals and waterways is one of the main reasons why our rivers and oceans have become so polluted. The PNP must see to it that laws against polluting our waterways are fully enforced," Escudero said.

 

He cited the plight of Pasig River, Metro Manila's main waterway, which is now considered one of the most polluted waterways in the world. Waste discharges from human settlements and factories along the river's banks have caused massive pollution and siltation.

 

"The Pasig River drains into Manila Bay, which has already reached pollution levels of very alarming proportions. There must be a focused drive by policemen to prevent waste dumping at the source, which are the canals and creeks of Metro Manila and nearby areas," the senator said."

 

"The government must send very strong signals that it is serious in caring for the environment. Enforcement is a key element in preserving the environment and yet our main law enforcement agency, the PNP, seems lax in this area," Escudero noted.

 

Data from the National Solid Waste Management Commission showed that Metro Manila accounts for 23 percent of the total solid waste generated in the country each year. On the average, a Filipino generates up to half a kilo of solid waste everyday.

Escudero said that a crime is a crime whether against persons, property or against the environment and it is PNP's mandate to enforce all laws.

 

"The PNP should go after illegal loggers, fishermen engaged in destructive fishing methods, traders of endangered species, business establishments who indiscriminately dispose of their wastes in rivers and creeks, or simply human settlers indifferent to the plight of the environment. There should be no exceptions," Escudero added.

 

World Bank Paper on Migration

World Bank Paper on Migration

 

Shaping the Future: A Long-Term Perspective of People and Job Mobility for the Middle East and North Africa

 

 

Read PNA story on the article:

 

 

RP as Middle East and North African model for WB in migration management

By Lara Jane M. Climaco

 

MANILA, March 19 (PNA) -- Labor-sending countries in the Middle East and North Africa can look to the Philippines for better migration management.

This was among the highlights of a World Bank report on shaping the future of global migration, done by its Middle East and North Africa (MENA) regional office.

The report, released March 16, highlighted the need for labor-sending countries in MENA to develop comprehensive programs and policies that would improve the match between their workers'  interests and foreign labor market needs.

Labor-sending countries in MENA include Algeria, Djibouti, Egypt, Iran, Iraq, Jordan, Lebanon, Morocco, Tunisia, West Bank and Gaza, and Yemen.

Currently, there are limited efforts on training, orientation, and counseling of potential labor migrants in these countries, it was noted.

This is in contrast to the Philippines' system of formal accreditation, the report said. "As the case of the Philippines illustrates, migration management requires strong state capacity. The institutionalization of labor export in that country in 1974 led to the establishment of specialized agencies for the licensing and monitoring of private recruitment agencies; provision of various services and benefits, such as insurance, loans, and scholarships; and mitigation of the risks involved in migration, such as exploitation and abuse."

In general, the WB report noted that both industrialized and developing countries must take a comprehensive approach in dealing with an aging and shrinking labor force.

If nothing is done today, future economic growth would be at risk due to the failure to adequately replace retirees in the active labor force.

"The shrinking of the labor force in deficit countries could exceed 200 million workers; but, on the basis of today's migration rates, only 32 million workers would be willing or able to move from sending to deficit countries to compensate for the decline.

Hence only one in six of those retiring workers would be replaced, the report said of the global prospects by 2050 if policies remain unchanged. Aside from economic growth, fiscal balances and the welfare of the elderly would also be put at serious risk, it said.

On a global scale, the WB said preparing for the future would require wide-ranging changes in education, social protection, labor markets, and migration policies in both sending and receiving countries. These issues should increasingly be included in the international cooperation agenda, its report said.

There should also be some refocusing done on the recruitment and training of mid-level skilled workers as these are in high demand now and would remain so into the future. “Labor shortages in some areas, such as health care professionals at various skill levels, are already significant. Short- and long-term projections both point to the fact that labor shortages will grow in many rich countries, and that these labor shortages will occur across the skills spectrum, with significant demand for mid-level skills or even relatively low-level skills,†according to the study.

 Mid-level skills include nurses, call center agents and others in intermediate business services. Low-level skills refer to retail sales persons, waiters and the like. If training programs were in place, migrants with vocational, secondary levels of education, linguistic proficiency could fill gaps in these job markets, the study said. It is important to address the training gap now because it takes 15 to 20 years or more to train a skilled worker from childhood and adulthood, according to the study. If both labor receiving and sending countries collaborated now, today’s children and those to be born and educated in the next 10 to 20 years would be adequately primed for future labor market needs.  (PNA)

Download the file here: http://depositfiles.com/files/9swaxt4ho

 

 

rt @ Impact of the Global financial crisis to RP Economy

----- Forwarded Message ----
From: Herman Tiu Laurel <htlfam@yahoo.com>
To: Worldwide-Filipino-Alliance@yahoogroups.com
Sent: Monday, April 20, 2009 8:21:41 PM
Subject: Re: [Worldwide-Filipino-Alliance] Fw: Impact of the Global financial crisis to RP Economy

These presentations are from the parties who have shown themselves as part of the problem over the dcades - the BSP, the financial sector. Maybe it would be advisable to get critics of the present system and those who predicted the financial and economic collapse to speak before the same body. htl

__,_._,___

rt @UBS Asian Economic Comment - Philippines: Remittances holding up

comment from Herman Laurel

UBS is one of the banks involved in the global financial scandal and collapse, and in the AIG mess as well. Oh, Philamlife too. Though this mail is about data only, even the data must be re-exammined. I have long declared that OFW remitaances have always been nderstated over the past two decades, the purpose being the manipulation of these figures and the macro-economic data upon which projections, debts, etc. are based and therefore planning of the Philippine economy is also mano\ipulated their way. htl -

rt @UBS Asian Economic Perspectives - ASEAN housing markets - opportunity or threat?

a comment from Herman Tiu Laurel

Philippiner housing backlog is estimated at 4-m up to -m. With the present land, government and financial policies, there'll never be any catching up. Do we have to rely on Asean? htl

_

comment from herman laurel rt @UBS Asian Economic Comment - Philippines: Exports and policy settings

It's like two babies, one is 86 lbs. like the Phlippines with 86-M population, the other Singapore baby at 5 lbs. same as it population (more of less), the latter used to get 10 gallons of milk and the former 1 gallon, now they both lose 30% of their milk - who loses more? Has Asean ever been helpful to the Philippines? In our Sabah claim? In getting the just economic production allocation? htl

UNORKA-SOUTHERN TAGALOG WILL HOLD A MARCH/RALLY TO CELEBRATE EARTH DAY.

 

MEDIA ADVISORY

 

Contact Persons: Ka. Vangie Mendoza (09058585238)

                          Ka. Jun Toledo (09284154081)

 

UNORKA-SOUTHERN TAGALOG WILL HOLD A MARCH/RALLY TO CELEBRATE EARTH DAY.

When          : Tuesday, April 21, 2009

Time and converging point: 8am at the Department of Agrarian Reform                                                         

Theme         : SAGIPIN ANG SAKAHAN! SAGIPIN ANG KALIKASAN!   

                      SAGIPIN ANG INANG BAYAN!

Event           : Converge at the DEPARTMENT OF AGRARIAN REFORM                       (DAR), then march to the DEPARTMENT OF                                                  AGRICULTURE (DA).

                     The march/rally will culminate with a Mass to be officiated by              Running Priest Fr. Robert Reyes in front of the                                                   DEPARTMENT OF ENVIRONMENT and NATURAL                           RESOURCES (DENR) along Visayas Avenue.

We invite the media to please participate in this event. Thank you po!

 

 

 

  

 

         

 

 

 

COMELEC still 'ill-prepared, ill-informed' on poll automation

With barely 13 months to go before May 2010, Senator Chiz Escudero said the Commission on Elections is still struggling with the gargantuan task of automating the coming general elections as it copes with legal loopholes early in the bidding process.

 

"Comelec appears to be unacquainted with the intricacies of automation. The poll body still appears to be ill-prepared and ill-informed at this stage," Escudero said in a statement.

 

"We cannot afford to be an apprentice in this undertaking, playing trial and error at every turn. We cannot falter this early in the game, in the same way that we cannot incur more delays as May 2010 approaches."

 

In Monday's hearing of the Joint Congressional Oversight Committee on the Automated Election System, which Escudero co-chairs, he said the poll body hit a snag with a provision in its own Terms of Reference (TOR) that mandates that the winning bidder for automation should at least be 60 percent Filipino-owned.

 

Another provision states that the winning bidder should have a "proven track record" in automating elections.

 

"Given these provisions in the TOR, then no Filipino company can qualify, much yet comply, with the requirements of automating the poll. What is the point in putting that provision?

 

"Comelec had already asked for the release of the P11.3 billion budget for the automation of the 2010 polls. But they are not yet prepared to adopt the system, much more fool-proof it. This is a disheartening development."

 

Escudero found out that the issue was not even discussed during deliberations on the TOR.

 

The senator said that even the law does not require that the corporation that will win the bid in automating the elections should be 60 percent-owned by Filipinos.

 

"Given this impediment, what do we now do? Do we amend the law? Do we amend the TOR? Or do we go manual again this coming elections," he said.

 

"I have always maintained that we are not prepared for automation. But since it has already been approved and the funds for it had been set aside by Congress, then what we can do is be vigilant. And by doing so, we discover these legal hitches."

 

Escudero said he will wait for Comelec action on this issue, adding that the poll body should rise above this obstacle and prove that it can indeed handle the task of automating the elections.

 

The hearing was attended by Senators Juan Ponce Enrile, Kiko Pangilinan, Makati Rep. Teddy Locsin, Albay Rep. Edcel Lagman, Comelec chair Jose Melo, Comelec Commissioners Rene V. Sarmiento, Armando Velasco, Lucenito Tagle, Comelec Executive Director Jose Tolentino Jr., and Comelec legal head Ferdinand Rafanan.

 

Escudero said that he will schedule another hearing once the bids for the automation of the polls are opened.

 

"We have to keep a watchful eye on this issue. It strikes at the very heart of our hard-earned democracy. We must not lose it to carelessness and apathy," Escudero said.

 

ILIGAN BRIDGE BOMBED BY LAWLESS GROUP

The Department of Public Works and Highways (DPWH) has reported the closure to vehicular traffic of Agus Bridge in Iligan City, Northern Mindanao Region after it was bombed by unidentified group early morning today (April 20, 2009).

According to report from DPWH-Lanao Del Norte 2nd OIC-District Engineer Marivel Frances Ong, steel beam at both sides of the 104 lineal meter bridge were totally destroyed by latest attack of alleged lawless elements on government> '> s infrastructure.

Also damaged according to the assessment conducted by the DPWH Region 10 bridge experts are the bottom chords (left and right side), main diagonal mid-span, cross stringers, and the sidewalk.

Agus Bridge along Iligan-Aurora Road is located eight (8) kilometers away from the Iligan City proper. Iligan-Aurora Road is the main access road leading to Zamboanga Peninsula and Misamis Occidental.

Engineer Ong said that personnel from the DPWH district office were immediately deployed to prepare for the construction of detour access, as the damaged bridge is only passable to pedestrians, five (5) persons at a time.

DPWH Secretary Hermogenes E. Ebdane, Jr. immediately sent Assistant Director Mangbalo Maniri of DPWH Region 10 based in Cagayan De Oro City to Iligan City to coordinate with concerned local government units and local police in the traffic management and in the formulation of rerouting plan.

The DPWH will request the immediate release of funds needed to undertake restoration of the damaged Agus Bridge once the assessment of cost is completed.

DPWH IMPROVES QUEZON ROAD IN SUPPORT TO PEACE AND DEVELOPMENT PROGRAM

The Department of Public Works and Highways (DPWH) is now undertaking the improvement of road link between the towns of Buenavista and Lopez in Quezon province.

            DPWH Secretary Hermogenes E. Ebdane Jr. said that this project  which is among the pump-priming project of President Gloria Macapagal Arroyo compliment not only the development of Buenavista but also the towns of the eastern part of Quezon province.

            The project consists of the concreting of 1.650 kms. gravel road with an average carriageway width of 6.10m pavement of 0.23m, with a shoulder of 2.0m including the construction of slope protection and drainage and other related minor structures.

            DPWH Quezon 4th District Engineer Ronnel Tan said that prior to this road improvement project, the road section was a provincial road in severe condition and was hardly passable to vehicular traffic most especially during rainy season.

            The road project will also ensure the safety and convenience of travelling public at all times.

            Costing P 30 million, the project is when fully completed will pave way to program and development to the 3rd and 4th district of Quezon province.

DPWH FAST TRACKS VITAL TOURISM AND AGRI HIGHWAY IN CORDILLERA

 DPWH FAST TRACKS VITAL TOURISM AND AGRI HIGHWAY IN CORDILLERA
 
Considered as one of the vital road network in Cordillera region as it connects the major tourists spots and agricultural communities to the market areas, the Department of Public Works and Highways doubled their efforts in completing the remaining concreting works in the Banaue-Bontoc Road Project.

In his recent inspection, Public Works Secretary Hermogenes E. Ebdane Jr. instructed the DPWH Cordillera Administrative Region to take advantage of the remaining summer weeks and accomplish much of the programmed works.

Included in President Gloria Macapagal Arroyo> '> s State of the Nation Address, once completed the travelling time from Bontoc in Mt. Province to the famous tourist destination rice terraces in Banaue, Ifugao will be lessened from two or three hours to one hour.

Josefina Bangan, wife of a local farmer in Mt. Polis said that even the project is not yet fully completed they had already increase their profit because they were able to sell their vegetable products at a much higher price because of its freshness due to fast delivery from  the farm to market centers.

DPWH Cordillera Administrative Region Director Roy Manao said that the project is already 35.89% complete and in coordination with the contractor they are maximizing their efforts to complete the project on or before December this year.

This P864 Million road project involves the construction of 94.12 kilometers of Portland cement concrete pavement from Brgy. View Point in Banaue to Sumani in Bontoc. It also includes the construction of drainage system, slope protection works and installation of road safety devices such as guardrails and road signs.

UBS Asian Economic Comment - Philippines: Exports and policy settings

Summary

- Philippines export growth was weaker than expected at -39.1% in
February after -40.1% in January. This was broadly as expected by
consensus and reflected a stabilisation in the level of exports.

- We would hesitate before getting too negative on this data from a risk
market perspective. Chart 2 shows that the decline in Philippines
exports since mid year-2008 was not out of line with regional peers.
Moreover, the Philippine data was for February. Already released March
data elsewhere suggests an improvement.

Download file here: http://depositfiles.com/files/rjpxazs7e

UBS Asian Economic Perspectives - ASEAN housing markets - opportunity or threat?

Summary

- Opportunity and threat

Will Southeast Asian housing markets provide a bulwark for the economy
in coming quarters or accentuate the crisis? This question matters.
Housing is a key part of household balance sheets in Southeast Asia,
with owner occupancy rates running from 71% in the Philippines to 90% in
Singapore and rural Indonesia. Changes in housing prices and valuations
will impact consumer spending decisions, household collateral for credit
and construction activity.

- A proprietary scorecard approach

We adopt a proprietary scorecard approach to gauging support for
Southeast Asian housing market valuations. Combining metrics for 1)
housing supply and demand; 2) the availability of credit; and 3)
discount rates, along with an assessment of government policy, we assess
both the cyclical and structural changes facing Southeast Asia's housing
markets.

Download files here: http://depositfiles.com/files/91ncvacpe

UBS Asian Economic Comment - Philippines: Remittances Holding Up

Summary

- Overseas Filipino Worker Remittances grew 4.9% in the year to February
2009. The level of remittances rose to 1.32bn US dollars from 1.26bn US
dollars in January.

- This was better than we expected; the normal seasonal change is for
remittances to remain relatively stable in February compared to January.

- As we highlighted in Southeast Asian Focus - Philippines: Important
signposts; Ed Teather; 3 April 2009 remittances have, as one should
expect, experienced much less downside than exports in recent months
(see chart 1). Positively, the BSP governor attributed the rise in
remittances to a rising deployment of workers and a slowdown in the
increase in the number of reported layoffs. The increase in the number
of workers deployed in January and February was 27.3% on the year.

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Impact of the Global Financial Crisis to RP Economy

The good thing of being in the media is that you’ll get story straight from the source. The other good thing is that you can get a copy of their presentation.

Last month, Manila-based business reporters were given a seminar on the effects of the global financial crisis on the Philippines.

These were the files presented during the seminar. Download the files now before it gets deleted.

Link to folder:

http://depositfiles.com/folders/18GHUBEYW

BSP Policy Responses to Challenges Facing the Philippine Economy

Presentation by FRANCISCO G. DAKILA, JR.

Center for Monetary and Financial Policy

Bangko Sentral ng Pilipinas

Download link: http://depositfiles.com/files/x1c2hwcnt

The Philippine Electronics Industry

Presentation by ERNIE SANTIAGO

President of SEIPI

Download link: http://depositfiles.com/files/7lg9oqrxz

What’s Next? The Philippine IT-BPO Industry

Presented by OSCAR R. SAÑEZ

President & CEO

Business Processing Association Philippines

Download link: http://depositfiles.com/files/5tus1893d

Investment Opportunities in Times of Crisis

Presented by PHILAM ASSET MANAGEMENT INC.

Karen M. Roa, President & CEO

Gina Goco-Morales, Executive Vice President

Download link: http://depositfiles.com/files/m86qpce0u

Economic Impact on Capital Markets

Presented by EDUARDO V. FRANCISCO

Banco de Oro

http://depositfiles.com/files/wmoq0bxnf

The impact of the global financial crisis on employment

Presented by DOLE Undersecretary ROSALINDA D. BALDOZ

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Chiz on Balikatan meeting

Checking on RP-US Balikatan exercises

 

Sen. Chiz Escudero meets with top military officers in the Bicol region to check on the conduct of the joint RP-US Balikatan military exercises in the area. To his right is Maj. Gen. Ruperto Pabustan, commanding officer of the Philippine Army's 9th Infantry Division; at left is Army Brig. Gen. Tristan Kison, deputy commanding officer, and Army Col. Ariel Bernardo, commanding officer, 901^st Infantry Brigade.