It’s no secret that several members of President Duterte’s all-powerful economic team have had disagreements with outgoing Agriculture Secretary Emmanuel Piñol, one even commenting that the beleaguered Cabinet official should get his act together before anything else. This was in reference to statements by Piñol criticizing some members of the economic team for not supporting the programs proposed by the Department of Agriculture (DA) meant to boost the agriculture sector’s performance, and in part justifying its poor performance over the last two years. While Piñol continues to be a trusted friend of the President, who one time had at best defended his Mindanao kababayan to be someone who is untainted by corruption, it was increasingly difficult to ignore his consistently poor performance since 2016. Last year, the agri sector managed to grow by only 0.8 percent, far lower than the set target of four percent, and contributing only 0.1 percent to the … [Read more...] about Agri needs competent management
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MANILA, Philippines — For the past 49 years, one organization has been relentless in making its mission of providing a home for every Filipino a reality. The Subdivision and Housing Developers Association, Inc. (SHDA) is celebrating 49 years of actively ensuring the right of Filipinos to own a house that they can call their own. Comprised of members from different property development companies, the organization has been active in vocalizing the advocacy of the housing industry in the country, which includes partnering with the government and other sectors toward undertaking programs and policies that foster a sustained housing industry vis-à-vis the economic growth of our country. The real state of Filipino real estate Owning a home remains a top priority and aspiration of many Filipinos, however, this remains impossible for many as an estimated backlog is reported to have reached 6.7 million as of 2015. A study by the University of Asia and Pacific showed the Philippines … [Read more...] about The unseen struggles of ensuring every Filipino has a home
Telecommunications play an important role in modern economies, and developments in telecommunications networks have reflected the adoption of digital technologies throughout those economies. A new Telenor Group-commissioned report outlines the impact of telecommunications on Thailand and Asia. According to the study, called “The Mobile Effect: How Connectivity Enables Growth”, telecommunications is at the core of modern economies. Sectors that are intensive users of telecommunications generally contribute a greater proportion of gross value added (GVA) to those economies, and connectivity contributes to and enables social goods. “Our study quantified these impacts across the Asian countries where Telenor is active – Bangladesh, Pakistan, Myanmar, Malaysia and Thailand,” said James Allan, the director of Frontier Economics, which conducted the study. The report found that sectors driven by telecommunications contributed almost three-quarters … [Read more...] about Why CONNECTIVITY matters
Major Philippine banks are still hoping that a cut in reserve requirement ratios, currently at 18 percent, will be decided keeping with the current condition of local and global financial markets. In March and June last year, the Bangko Sentral ng Pilipinas (BSP) allowed banks to bring down reserve ratios twice, from 20 percent to the current 18 percent by 100 basis points each, to free up about P200 billion for increased lending and bank investments. It was supposed to start a gradual easing in recognition of a slowdown in the entry of foreign investment funds to the country and the recovery of the US market and other major world economies. However, an escalation of inflation resulting from manipulated rice and food shortages in the local economy, with commodity prices rising by an average of 4.3 percent in the first half of 2018, led the BSP to temporarily hold back further reserve ratio reductions. Instead, the BSP continued with increasing its interest rates throughout the year in … [Read more...] about Time to bring down bank reserve ratios?
PUTRAJAYA: It was a twist of luck for 2,635 children, who without valid documents, were allowed to be enrolled in schools since the beginning of the year. This was made possible after some corrective measures by the government to save the children from being stuck and becoming misfits in society, thus giving them hope for a brighter future, said Education Minister Dr Maszlee Malik (pix). “All this time, they have been idle and when they have nothing to do, they become a problem to the community and are involved in various social ills. “We (at the ministry) have tried to take a corrective stance that is to bring them to the school where the school will assist them in obtaining the documents,“ he told a press conference on the initiatives implemented by the Ministry of Education in the last one year of the Pakatan Harapan government’s administration. The efforts to bring these children closer to school and education are expected to be a catalyst to help them build … [Read more...] about Groundbreaking measures taken in education: Maszlee