OFWs remittances parry peso slide

HAMPERED by the continued volatile political situation in Asian region, the peso earlier last week further weakened to a fresh almost 11-year low against the US dollar, sliding to 51.34:$1 on Tuesday from 51.08:$1 last Monday.

The figure was the peso’s weakest against the dollar since Aug. 25, 2006 when it tabbed at 51.38:$1.

At the Philippine Dealing System, the peso reached an intraday low of 51.35:$1 and a high of 51.13:$1 after opening at 51.2:$1. 

The total volume traded jumped to $659 million from Monday’s $291.5 million.

 

Geopolitical Tensions

“This…

Read more: OFWs remittances parry peso slide

PHL, Czech Republic ink economic pact

TRADE Secretary Ramon Lopez and Czech Ambassador to the Philippines Jaroslav Olša, Jr. signed recently the PH-CZ Agreement on Economic Cooperation, which they hope will go a long way in further strengthening trade and investment relations between the two countries.

“What we are having here is a milestone between our two countries. The strengths and resources complementarities have long been untapped.  It is our desire to be with alternative markets and forge new partnership,” Sec. Lopez said.

Lopez emphasized the increased potentials of technology-oriented industries, auto and aerospace parts, electronics, agri-based, energy, transportation, and tourism between the two countries.

“Tourism…

Read more: PHL, Czech Republic ink economic pact

DTI wants designs of PH brands enhanced

DETERMINED to make Philippine brands find a niche in the global market, young design professionals have gathered together recently to compete against each other in creating designs for two well known local products.

Held under the auspices of the Design Center of the Philippines, the challenge dubbed "Pick Pack Boom" gathered the designers to develop and recreate sustainable and locally-sourced recycled and sustainable packaging materials for Human Nature and Malagos Chocolates brands.

Participants developed a prototype for Human Nature's bath soap bar and Malagos' Chocolates' gift bag that took into consideration the concept of sustainable design. 

The event also…

Read more: DTI wants designs of PH brands enhanced

TO SPUR economic activities in the countryside, the National Economic and Development Authority (NEDA) has approved P77- billion worth of infrastructure projects for the Western Visayas region.

The amount will primarily be used in building bridge network connecting the islands of Panay, Negros, and Guimaras aimed at fast tracking business activities in the region.

Aside from interconnected bridge network, part of the fund will also be used in the repair and rehabilitation of the Iloilo International Airport and Panay River Basin Integrated Development Project, a multi-purpose megadam project in Capiz. 

China and Japan expressed their interests to fund the projects through Official Development Assistance (ODA). 

Economic planners believe that the bridge network will greatly help the economies of the three islands in transporting goods and moving people faster. 

Iloilo International Airport will have a major physical facelift especially at the terminal building, baggage carousel, and other areas. 

The megadam in Capiz meanwhile will help ease flooding in the province flooding and to add power to the city. (Ehlorra Mangahas, Trainee)

Read more: NEDA pours P77-B in WV infra projects

Pernia: Work outside urban centers
Photo courtesy of the Philippine Daily Inquirer

TO HASTEN the development of rural areas, Socioeconomic Planning Secretary Ernesto Pernia urged the private sector to “work outside the urban centers and tap the potential of fringe regions.”

He made this appeal during the 8th Regional Development Council- Private Sector Representatives’ national convention in Panglao, Bohol where he also highlighted the importance of the private sector in boosting activities in the provinces to promote the administration’s inclusive growth agenda.

“Our partners in the private sector play a big role in the development process and thus in realizing our vision for the country,…

Read more: Pernia: Work outside urban centers

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