by anyajulia | Sep 23, 2009 | Headlines, National News
Overseas Filipino Workers’ (OFW) underwent a livelihood orientation dubbed as the “Kabuhayan Starter Kit (KSK) and Basic Entrepreneurship Seminar.”
The resource persons for the orientation will come from the Overseas Workers Welfare Administration (OWWA), Department of Labor and Employment (DOLE) and Department of Trade and Industry (DTI).
The project is a livelihood formation strategy that is intended to bring about improved socio-economic well-being of workers in the informal economy, in groups/sectors with special concerns, and displaced wage workers (local and overseas) and their families.
It will provide a livelihood starter kit consisting of a package of services that will enable the target beneficiaries to start quickly a livelihood undertaking and become self-employed. It aims to engage them in sustainable self-employment through easy to learn livelihood undertakings. (PIA)
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by anyajulia | Sep 23, 2009 | Headlines, National News
The Home Development Mutual Fund (Pag-IBIG Fund) plans to increase its membership contribution rate to further improve its financial capability and meet the demands of members for more loans and benefits. This was the statement disclosed by Jaime Fabiaña, Pag-IBIG chief executive officer.
The Fund’s housing loan disbursements have been growing consistently for the last eight years.
For the first seven months of the year alone, housing loan approvals have reached P25.3 billion, up by 36 percent from the P18.5 billion level for the same period in 2008.
“On a daily basis, Pag-IBIG is able to assist almost 300 members in acquiring or building their own houses,” Fabiaña said.
The Fund lends out about P160 million in housing loans every day.
Compared with other government institutions like the SSS, the GSIS and the PhilHealth which have adjusted their rates several times in the past 23 years, the Fund has retained the same contribution rates since 1986,” Fabiaña said.
The planned increase in the contribution rates will rationalize the Fund’s savings scheme, such that members with higher income will have to save more. However, those who belong to the lower income bracket will not be adversely affected by the adjustment in rates.
Similarly, an increase in one’s contribution would mean a higher short-term loan amount as loans granted under the program are savings-based. Hence, the more a member saves, the bigger MPL he is entitled to borrow. (Pag-IBIG/PIA/EAD)
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by anyajulia | Sep 23, 2009 | Headlines, National News
THE World Health Organization (W-H-O) has assured equitable distribution of vaccines against swine flu once it is available.
WHO through Director-General Margaret Chan issued the commitment while making sure that developing countries are not left empty-handed in dealing with the A (H1N1) pandemic.
WHO projects that it will be able to obtain donations and funding for procurement of at least 300 million doses of vaccine against the A (H1N1) virus.
They said it should be enough to cover 15% of the population of the developing world.
As for the Philippines, Health Secretary Duque said, D-O-H would give the highest priority to their frontline health workers, pregnant women, people with co-morbid conditions and the very young and very old with immuno-compromised health status. (PIA)
by anyajulia | Sep 23, 2009 | Foreign Exchange, Headlines, National News
AT LEAST ten Saudi Arabian agricultural companies want to make the Philippines their food production hub and distribution center in the Far East.
Agriculture Secretary Arthur Yap, who accompanied President Gloria Macapagal-Arroyo in her two-day visit to this Saudi Arabia’s eastern province bared this adding that the 10 investors forming the Far East Agricultural Co. (FEAC) are interested making in Mindanao part of their social and economic development plans.
The Philippines is currently Saudi Arabia’s top supplier of bananas, number four in pineapples, number two in sardines, and number three in tuna, Yap said.
by anyajulia | Sep 23, 2009 | Headlines
“Four top foreign firms commit to expand in the Philippines.” This was the statement released by Malacanang. This positive development is a manifestation of the investors’ confidence on the business-friendly climate in the country under the Arroyo Administration.
Over the weekend, two global mining firms, a telecommunications company and alternative energy developer have signified their commitment to expand their operations in the country: Metals Exploration PLC, the Rio Tinto Group, T-Mobile and the Bronzeoak Group. (PIA)
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