Philippine Senator Tito Sotto slams CNN for negative feature on Philippines, threatens to pull out ad placements

Apparently failing to distinguish between the necessarily favourable content advertisements display in favour of whoever is funding them, and a news report which is in principle derived from direct observation and facts obtained from as reliable sources as can be possibly engaged by reporters, Philippine Senator Vicente "Tito" Sotto III lashed out at global new channel Cable News Network (CNN) for airing reports on poverty and other "negative" features of the Philippines despite the Philippine government spending millions on ad placements with the network...

Urban poor kept out of the picture in Asian Development Bank (ADB) convention in Manila

It is reminiscent of the days when former First Lady Imelda Marcos, also then governor of the Philippines' National Capital Region which included Metro Manila and its suburbs in the 1970s built walls and to hide the blight of poverty in her realm from visiting foreign dignitaries. The true character and face of Metro Manila is once again swept under the rug as the government of President Benigno "Noynoy" Aquino III hosts this year's meeting of regional finance officials Asian Development Bank governors.

Malacañang PR machine on damage control as 'vindictive' label sticks after Arroyo arrest

Malacañang deputy spokesperson, Abigail Valte in a recent press statement now makes out the neglect of the Aquino administration to act swiftly to file charges against former Philippine President Gloria Macapagal-Arroyo for her allegedly numerous "crimes" as proof of President Benigno "Noynoy" Aquino III being "not vindictive".

Bank of America biggest casualty in Monday trading in the US

The value of the United States' biggest bank Bank of America (BofA) fell 15 percent at close of Monday trading (going 20 percent down at its lowest in the course of the day). With a market capitalisation down to USD70 billion, Apple could buy BofA with cash and still have USD6 billion stashed away for a rainy day.

USD23.6b in US securities held by PH downgraded from AAA to AA+

Philippine President Benigno "Noynoy" Aquinos III's "top economic advisers" are monitoring the effects of the downgrade of US debt from AAA to AA+ by rating agency Standard and Poor -- the first time in its history since the rating scheme was introduced. Impact of this on US consumers' disposable income (if interest rates increase as an outcome of the higher risk perception attracted by US debt) presents the obvious possibility that the volume of remittances sent by Filipino-Americans to their relatives in the Philippines will be hit hard.

Economists weigh in on Noynoy Aquino's July 25, 2011 SONA while Malacañang defends it

Celebrity economist Winnie Monsod and Ibon Foundation chief researcher Sonny Africa itemised flawed analyses in the recent State of the Nation Address delivered by President Benigno "Noynoy" Aquino III in a GMA News Online report, highlighting many instances of figures taken "out of context". Most of these instances involved using numbers selectively and neglecting to cite the nuances of these numbers. An example cited by Africa involved how the 1.4 million jobs created (presumably under his watch) were, in reality "more than offset" by the labour force increasing by 1.2 million people.

Economic growth inadequate to compensate for runaway population growth in the Philippines!

Population Commission acting deputy executive director Rosalindo Marcelino went on record to state a big IF to qualify the notion that robust population growth can "contribute to economic development". According to Marcelino, population growth is a plus "only if your workforce is productive, skilled, educated and competitive."

Development economist William Easterly: 'Holy Grail of prosperity is seven inches of latex: a condom'

A BusinessWeek.com report gave tentative thumbs up to Noynoy Aquino's management of the economy since his ascent to power in May of 2010. The report by Bloomberg News columnist William Pesek sees the Philippines' junk credit rating as potentially unfair considering progress so far made. He cited "7 percent growth, political stability, healthy banks and a narrower budget deficit" as pluses. Pesek also lauded the re-appointment of Amando Tetangco as Central Bank governor.

National Intelligence report: Philippines at risk of rice crisis

A rice crisis looms in the Philippines according to a report prepared by the National Intelligence Coordinating Agency (NICA). A shortage in worldwide supply of rice along with rising costs of essential commodities in the country are seen to be possible future sources of domestic unrest, according to the report.

Philippines sends warplanes to investigate Chinese harassment of Filipino oil explorers

The Philippine military sent two warplanes to investigate reports of Chinese patrol ships harassing a local oil exploration ship in a region off Palawan near the disputed Spratly Islands known as Reed Bank. According to Philippine officials, Reed Bank is within Philippine territory. The warplanes were scrambled after the passengers and crew of the ship -- a team of oil explorers hired by the Philippine government -- radioed the nearest post of the Armed Forces of the Philippines' Western Command. According to field reports, the crew of the Chinese patrol boats had ordered the exploration team to leave. Deployment of the planes was described by Philippine military commander Lt. Gen. Juancho Sabban as a "surveillance" mission.

Doom and gloom for Filipinos: unemployable refugee OFWs and rising energy costs

So much poetry was waxed as Filipinos, harbouring presumptuous paternalistic sentiment, doted upon the supposedly fledgling "people power" revolutionaries making waves in the Middle East. Trouble is, reality crept into the picture beneath the lines-of-sight of the chattering classes. That the livelihoods of a horde of Overseas Foreign Workers (OFWs) deployed there were at risk was an obvious reality that simply flew over the heads of would-be Filipino poets. That reality is now bearing down on the hapless little islands nation of 100 million as it faces the virtually impossible task of absorbing an additional mass of tens of thousands of warm bodies into its flaccid domestic economy.

China film industry: more reliance on internal substance and less dependence on foreign intellectual capital

The Chinese film industry more than quadrupled in size from being worth $250 million in 2005 to an industry raking in $1.5 billion in revenues in 2010. This has left America's mostly cash-strapped Hollywood gearing up to cash in on the rapidly growing Chinese market. China's central government sees a well-developed film industry as an essential ingredient to building a consumerist society. It has so far invested in serious infrastructure to back that goal opening up to three new theatres everyday. At present there are 6,000 screens across China most of which are equipped with modern digital projection facilities.

Taiwan had always been a Filipino livelihood disaster waiting to happen

Just right after high-fives are exchanged by Philippine President Benigno "Noynoy" Aquino III and Vice President Jejomar Binay over the stay on the execution granted by Beijing on three convicted Filipino drug mules, the jobs of more than 80,000 law-abiding Filipinos in Taiwan suddenly come under an even darker shadow cast by an axe. Taiwan is reportedly stonewalling on a demand for an apology from the Philippine Government after 14 Taiwanese nationals were deported to Mainland China.

How China is making globalisation REALLY work to its advantage

Consider China's approach to development. It takes a long-term view -- a strategy that aims to effect a sustainable outcome. The cornerstone of this strategy is a concept that goes by the term "indigenous innovation". In the report "China's Drive for 'Indigenous Innovation': A Web of Industrial Policies" commissioned by the United States Chamber of Commerce, the scope and extent of industrial policies being formulated and rolled out by the Chinese Government to both fast-track and secure its rise as the dominant global economic and industrial powerhouse of the future is assessed.

Creeping disaster in the Philippines not newsworthy enough for fiesta-happy Filipinos

Butuan City was declared as "in a state of calamity" as five days of heavy rains inundated the Caraga Region of the Philippines killing two people and displacing 300,000. Science Undersecretary Graciano Yumul said that the Philippines is facing a "creeping disaster" as the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) revealed data indicating the looming adverse effects of the La Niña weather phenomenon on the Philippines.

Chicken-and-egg: the challenge of weaning Filipinos off OFW remittances

Reports of another "boom year in remittances" are circulating. Estimates of the value of remittances from Filipino Overseas Foreign Workers (OFWs) expected for 2011 range from $18.7 billion to $19 billion. The proportion of the economy measured by the GDP traditionally hovered around the 10% mark -- a dependence that costs Philippine society according to a report from The National...