Remittances reach US$24.4-B

REMITTANCES from overseas Filipino workers (OFWs) for the first ten months of the year reached US$24.4 billion, equivalent to a 3.9 percent growth year-on-year.

Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco, Jr. said remittances from land-based workers with work contracts of one year or more amounted to US$19.0 billion while those from sea-based and land-based workers with work contracts of less than one year (excluding their expenditures abroad) totaled US$5.1 billion. 

Personal remittances in October at US$2.3 billion, however, were 2.8 percent lower than the level posted in the same month last year.…

Read more: Remittances reach US$24.4-B

SSS eyes P2,000 pension increase approval

The Social Security System (SSS) expects the signing of the joint resolution from the House of Representatives and the Senate on the proposed pension increase before the Christmas break to pave the way for the release of the initial P1,000 benefit at the start of 2017. 

Social Security Commission (SSC) Chair Dean Amado D. Valdez said that in order for pensioners to receive the additional P1,000 in time for January 2017, SSS needs the formal approval of the proposal before the year ends, since pensions are disbursed to banks the month prior to their scheduled release.

Dean Valdez explained…

Read more: SSS eyes P2,000 pension increase approval

PHL-Pakistan pledge to enhance trade deals

MANILA and Islamabad executives have pledged to work on broadening and diversifying economic between the Philippines and Pakistan, with both sides expressing interest in enhancing cooperation in the fields of agriculture, defense, information technology (IT) and pharmaceuticals.

In a recent meeting with Finance Secretary Carlos Dominguez III, Pakistani Ambassador to Manila Safdar Hayat said pharmaceutical firms in Pakistan want to invest in the Philippines, while other companies have expressed interest in exploring areas for cooperation on technology transfer in fruit processing and IT where the Philippines has greater expertise.

Bilateral trade between Islamabad and Manila remain at a narrow base,…

Read more: PHL-Pakistan pledge to enhance trade deals

Manufacturing Sustains Growth in October

MANUFACTURING output continued its rapid growth in October 2016 due to higher production of petroleum products, non-electrical machineries, and transport equipment, according to the National Economic and Development Authority (NEDA).

“In order to support the manufacturing sector’s continued growth, the government efforts to improve the business climate must be sustained,” said Socioeconomic Planning Secretary Ernesto M. Pernia.

In the Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries for October 2016, the Volume of Production Index (VoPI) grew by 8.4 percent, a marked improvement from the 1.5 percent growth recorded in October 2015.

Meanwhile, the Value of Production…

Read more: Manufacturing Sustains Growth in October

Absolute Power

SOUTH Korean President Park Geun-Hye has calmly stated that if two thirds of the National Assembly wanted her impeached she will not fight.  Granted, she has only a year before she becomes a Lame Duck president this would still be a great victory for the Korean People.  

They have had enough of corruptions in their government.  The charges are fairly simple.  

She had cronies shake down businesses to fund their foundations.  They made back door deals that assisted or protected the businesses.  

If this was the Mafia, it would be called “extortion.”  If this was business, it…

Read more: Absolute Power

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