The Bankers Association of the Philippines said Wednesday its members will not comply with the Comelec’s “money ban,” which the group said would be disruptive to business and commercial transactions within the economy.
At the 2013 Asean Summit held last week in Brunei Darussalam, P-Noy said the Philippines was no longer the “Sick Man of Asia,” a phrase originally used to refer to China’s weak and impoverished economic disposition in the late 19th and early 20th centuries, but now used to describe Asian nations with a similar experience.
As gas lines to blast furnaces at a small-town plant are gradually cut off on Wednesday, it marks not just the end of an era, but for many workers, a “broken promise” by French President Francois Hollande.
About a couple of months ago, the Housing and Land Use Regulatory Board, or the HLURB, issued a “notice of violation” to a real estate firm called Picar Development. Because of the alleged violation, the board ordered Picar to stop marketing and selling its project in Alabang, Muntinlupa, known as the “Chelsea Residences Alabang.” [...]
The US Federal Aviation Administration ordered the shutdown of air-traffic control towers at 149 small airports due to budget constraints after the implementation of the “sequester” spending cuts.
Stocks are having a bad flashback to last spring, when fears about the European debt crisis sent the market spiraling lower.
The US government budget showed a surplus in January for the first time since September as the overall budget deficit trended lower, Treasury Department data released Tuesday showed.
On top of the shame campaign they have to endure in social media —“Epal” politicians now face tighter audit that will hopefully curb self-promotion at the expense of public funds. Invoking its exclusive authority to promulgate accounting and auditing rules, such as to weed out “irregular, unnecessary, excessive, extravagant or unconscionable” state expenditures, the Commission on Audit has mapped out an “anti-Epal” blueprint for the first time. Just in time for the mid-term elections this year and ahead of the 2016 presidential polls.
Living up to President Aquino’s advance information that the numbers would impress, the Philippine economy expanded 6.8 percent in the fourth quarter of 2012, lifting full-year growth to 6.6 percent.
Visiting American economist Nouriel Roubini hailed the Philippines as an “economic success,” citing the country’s potential to move toward a higher growth rate of at least 7 percent a year.
“All of us will be impressed,” President Aquino said Tuesday of the report on the full-year economic growth rate in 2012, which the government planning agency is set to release Thursday.
President Barack Obama Monday warned of a new economic crisis and said global stock markets would go “haywire” unless Republicans in Congress agree to raise the US sovereign debt ceiling.
