RUNAWAY. Annual inflation is at a 14-year high of 11.4 percent in June from a revised 9.5 percent in May as soaring food prices. Core inflation, which strips out volatile food and energy prices, jumped to 6.6 percent from 6.2 percent. The headline figure was above the central bank's forecast range of 10.4 percent to 11.2 percent for the month and was the highest since May 1994 when inflation stood at 11.5 percent. – Graph by BERNADETTE GARCIA/INQUIRER.NET
RESPECTING, INSPIRING EMPLOYEES. Marita Hellberg, Ericsson senior vice president, head of Group Function Human Resources and Organization, talks about how the company trains employees and shares its core values to ensure that they would continue to be inspired and challenged by their work. Interview conducted by INQUIRER.net multimedia specialist Erika Tapalla. Video taken by INQUIRER.net online videographer Janie Christine Octia in Makati City, Philippines.
CUTTING COSTS. Young entrepreneur Abby Sarmiento shares how staying smart instead of staying hip has helped her and boyfriend/business partner Franco Mesina, make a deep cut in their telephone bills. Wherever they are, their staff can call them anytime using the wireless landline service they got from a telecommunication company. Video taken by INQUIRER.net business editor Ma. Salve Duplito in Quezon City, Philippines.
HIGHER OIL PAYMENTS. Total imports for April reached $4.855 billion, rising 11.8 percent from a year earlier amid soaring crude oil prices. Imports of mineral fuels, lubricants and related materials, with a 21.4 percent share of the bill, rose 13.7 percent to $1.037 billion. Electronics imports, which accounted for a third of the import bill in April, fell 10.7 percent to $1.594 billion. Graph by BERNADETTE GARCIA / INQUIRER.net
RISING DEFICIT. For the first four months of the year, the trade deficit stood at $2.6 billion compared to a deficit of $179 million in the same period last year. The trade deficit in April stood at $531 million, with the import bill rising 11.8 percent from a year earlier. Graph by BERNADETTE GARCIA / INQUIRER.net
FIL-NEGOSYO EXPO 2008. Ex-Link chief marketing officer Mitch Ballesteros says this year's Fil-Negosyo Expo
is bigger and better than the previous years as Filipino entrepreneurs are finding new ways to grow their money, as well as
contributing to the Philippine economy. The Fil-Negosyo Expo is being held at the SM Megamall Megatrade Hall from June 20-29. Video taken by INQUIRER.net community evangelist Alex Villafania in Mandaluyong City, Philippines.
STILL POSITIVE. Soaring oil and food prices are weighing on the country's external payments account, resulting in a lower balance of payments surplus in May of just $42 million. The central bank however is positive that the country will still be in positive territory by yearend despite the global commodity crisis. BOP by yearend is seen at $2.5 billion; cumulative BOP as of end May stood at $2.2 billion. Graph by BERNADETTE GARCIA / INQUIRER.net
STRONGER REMITTANCES IN APRIL. Money sent home through banks by overseas-based Filipinos rose 18.4 percent to $1.4 billion in April from a year earlier, higher than the 9.4 percent increase recorded in March. Total inflows in the first four months totaled $5.4 billion, up 14.5 from from the same period last year. The number of Filipinos who left for work abroad in the first four months rose 14 percent to 399,638. – Graph by BERNADETTE GARCIA / INQUIRER.net
GREATER BENEFITS. The adoption of International Accounting Standards 39 would give banks enough competitive boost in their business while bringing about greater transparency in the financial system, said Misys managing director Graeme Beardsell and Dr. Tat Fung, New York-based head of quantitative & financial engineering for Misys Solutions, in a recent briefing.
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