Economic conditions
The Philippine Congress has ended its second regular session without approving a budget for 2006, instead opting to reenact the 2005 budget of P907.6 billion (US$17.1 billion). The failure to pass a new budget has been attributed to a lack of agreement between the bicameral committee conference
Economic conditions
China's Vice Premier Zeng Peiyan expressed the country's commitment to fostering a fair and favorable environment for foreign investors, emphasizing the government's support for Chinese enterprises to collaborate with international partners. Zeng made this statement during a meeting with Samuel J. Palmisano, chairman and
Economic conditions
The House of Representatives has approved on second reading a proposal to grant a P125 (US$2.36) across-the-board daily wage hike for workers. The proposal, which was unanimously approved by House members, will be implemented in a staggered basis of three installments until October 1, 2008. The wage hike
Economic conditions
Philippine President Gloria Macapagal-Arroyo has expressed her gratitude to the House of Representatives for pushing through with the legislative process, particularly in passing bills that provide tax breaks for low-income wage earners. The passing of these bills is seen as a crucial step in alleviating the burdens of the Filipino
Economic conditions
The Presidential Office, led by Press Secretary and Presidential Spokesman Ignacio Bunye, has issued a statement in response to concerns raised by Sorsogon Bishop Arturo Bastes over environmental issues related to Australian mining operations in Rapu-Rapu island, Albay. While expressing respect for the bishop's views and sharing his
Economic conditions
Philippine President Gloria Macapagal Arroyo and Equitorial Guinea President Teodore Obiang Nguema Mbasogo strengthened economic ties between their countries by witnessing the signing of two bilateral agreements on Friday. The agreements aim to boost economic cooperation and create a favorable investment climate between the two nations. The visits also marked
Economic conditions
As Vietnam prepares to join the World Trade Organisation (WTO), the country's telecommunications sector is optimistic about the challenges and opportunities that lie ahead. With eight domestic companies providing a range of services, including postal services, internet, and telecom services, the sector is gearing up to compete with
Economic conditions
Emerging markets private equity sector saw a remarkable increase in fundraising in 2005, with a total of $US21 billion raised, nearly quadrupling the amount raised in 2004. This influx of capital was a significant trend at the annual private equity conference in Washington, co-hosted by the International Finance Corporation (IFC)
Economic conditions
Taipei's economic landscape is set for a shift as Taiwan's Central Bank of China is poised to raise the discount rate, likely by half of a quarter percentage point to 2.5%, in response to the US Federal Reserve's 16th consecutive interest rate hike
Economic conditions
South Korea's central bank is facing a pivotal decision as it weighs the nation's economic growth against the sharp ascent of the won against the U.S. dollar. Three global investment banks, including JP Morgan & Chase Co., predict that the Bank of Korea (BOK) will
Economic conditions
Yesterday's trading session on Wall Street ended on a sour note as comments from Federal Reserve Chairman Ben S. Bernanke fueled concerns about rising interest rates and inflation. Despite an initial boost from upbeat sales reports and economic data, including a 0.8% rise in personal income and
Economic conditions
U.S. stocks took a plunge in May as the Federal Reserve's comments and economic data fueled uncertainty about inflation and interest rates. The Dow Jones Industrial Average dropped 1.75%, the Nasdaq Composite Index plummeted 6.19%, and the S&P 500 Index sank 3.09%
