Economy – Page 326

Futurecasting to encourage entrepreneurship

Economy

Sep 202014

Futurecasting to encourage entrepreneurship

MANILA, Philippines – We Filipinos are known for our entrepreneurial spirit, and many of us dream of putting up our own business as soon as we have gathered enough capital. Karla La Rosa has been living this dream at the young age of 32. After graduating college, Karla moved to the US to work and scored a job in Wall Street, New York City. Missing home, she came back to the Philippines and successfully ran a health care business. Admittedly, her income was huge, but in exchange she lost time for herself, family and friends. “Being 32, I still want to enjoy and have fun. I don’t want to spend the rest of my life working. So right now, I’m looking for something that’s rewarding and at the same time will allow me to travel and enjoy with my family and friends,” Karla says. Karla’s case is not unique and recognizing that her problem is one of the many financial issues Filipinos face, The Philippines STAR in partnership with Insular Life created “Futurecasting,” a first-of-its-kind 360-approach to financial education. Futurecasting, which debuted on April 28, has two parts: a column by Francis Kong and a webisode uploaded on Insular Life’s YouTube channel. Real people representing a person’s different life stages (such as singlehood, marriage, and retirement) are given financial advice by Insular Life experts. In its penultimate installment, Karla receives counsel from Insular Life senior vice president and chief agency executive Ramon “Mon” Cabrera. “In business, what you do is Read More …

Batuhan: The good, the bad and the ugly

Economy

Sep 192014

WE KNOW this by now, and we acknowledge this fact: overseas Filipino workers (OFWs) are indeed the new heroes of the country. Despite unrest in the overseas markets where they work, their contributions to the economy continue to increase unabated. The Bangko Sentral ng Pilipinas (BSP) estimates that for the first half of this year alone, their contribution to the national coffers by way of inward remittances has reached $12.7 billion, some 12 percent better than in the same period last year. This despite the fact that many of their traditional work places in the Middle East have been in intense conflict situations, and notwithstanding the forced repatriation of thousands of their colleagues from these strife-torn locations. The Philippine Overseas Employment Administration estimates that today, there are about 2.3 million Filipinos working abroad at any one time. This is equivalent to a fairly large city in the Philippines, something just under the size of present-day Quezon City. However, the demographic impact is more telling than just the mere numbers suggest. Most OFWs are the sole breadwinners in the families; the father, mother or eldest sibling, working abroad to support family in the Philippines. This means that about 2.3 million families are directly affected by the OFW phenomenon, assuming that one OFW worker belongs to one household back home. At least 10 percent of all Filipino households know what it means to have one member of the family abroad, a staggering amount by any measure. The sad tales are familiar. Money Read More …

BIR amends broker accreditation rules

Economy

Sep 182014

THE BUREAU of Internal Revenue (BIR) has amended its rules in accrediting customs brokers and importers which serves as a requisite for accreditation at the Bureau of Customs (BoC).

Single import permit scheme mulled

Economy

Sep 182014

PRODUCTS THAT require import permits from several government agencies will soon be codified into a single reference system as the Customs Bureau aims to improve the compliance of importers in meeting safety requirements.

Bidding procedure for Bulacan water project deferred

Economy

Sep 182014

THE SUBMISSION of prequalification documents for the P24.4-billion Bulacan Bulk Water Supply Project has been deferred again, an official from the agency-in-charge said yesterday.

Legal hurdles, continuity hound PPP program

Economy

Sep 162014

THE PHILIPPINE’S public-private partnership (PPP) program needs reforms that will help market the country as a potential destination for investors keen on developing national infrastructure projects, an Asian Development Bank (ADB) official said.

ASEAN integration still far-off

Economy

Sep 162014

ASIAN business leaders said that the coming Association of Southeast Asian Nations (ASEAN) economic integration by end-2015 may take years longer to be fully implemented, as many countries still need to address concerns such as non-tariff barriers hampering free trade in the region.

Internet connectivity as a basic service’ pushed

Economy

Sep 162014

IT IS high time for the government to step in to improve Internet connectivity in the Philippines, Senator Paolo Benigno “Bam” A. Aquino IV yesterday said, suggesting that the technology be a basic service offered by the country’s telecommunication companies.

AFPCA Auto Poll Goes On-site at PIMS

Economy

Sep 162014

MANILA, Philippines – The ongoing online poll of the Auto Focus People’s Choice Awards (AFPCA) will be made available to visitors of the forthcoming 5th Philippine International Motor Show (PIMS) that will be held at the World Trade Center this Sept. 18-21. Sunshine Television (STV), the organizer of the poll-based merit award program specific to the local automobile industry, will open an on-site polling center at the motor show venue to enable the public to participate in this annual public poll that determines the country’s most popular automobile brands and models. The 3-month AFPCA voting period which got underway last July 1 is at its homestretch and will end midnight of September 30. 2014. Vying for “2014-2015 Model of the Year” honors is a banner field that is divided into Standard and Luxury categories. In this year’s undertaking of the AFPCA, a separate and much-coveted “2014-2015 Automobile of the Year” title will be awarded for each category for the first time. “Currently accessible to voters on-line via our website at www.autofocus.com.ph and through a dedicated page on the most popular social networking site, we at STV are delighted to bring the AFPCA poll on the ground and within easy reach at the venue of a well-attended and sought after event such as the Philippine International Motor Show.” explained Ray Butch Gamboa, Chairman/CEO of STV. “Considering that practically each model on display and available for test drive during the PIMS is also a candidate for possible awards in the AFPCA, the Read More …

Long-term solutions to the country’s traffic woes needed

Economy

Sep 152014

BAND-AID SOLUTIONS to ease the traffic gridlock in the Philippines — which has fanned inflation and impaired productivity — should be paired with long-term measures in order to completely address the issue, an Asian Development Bank (ADB) official said.

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