Economy

Riza Lozada The government has assured Japanese investors that incentives offered to them for the setting up of local facilities such as tax holidays and reduced taxes and duties will be retained in an effort to encourage more investments.

Top telecommunications firm Globe Telecom will allot $850 million in capital spending (capex) this year which is almost double from 2014 when it posted a record P14.5 billion profit or a 25 percent jump from a year ago driven by solid performance in its mobile, broadband, and fixed line data businesses.

The creation of the ASEAN Economic Community (AEC) likely by the end of the year would create 40 million new jobs but these would be mostly for skilled workers that may result in the shortage of skilled labor in the region, an official of the International Labor Organization (ILO) said.

Tokyo—College-educated and gainfully employed 36-year-old Eriko Sekiguchi should be a sought after friend or date, planning nights on the town and faraway resort vacations. But she works in Japan, a nation where workaholic habits die hard.

Athens—The pressure on Greece’s new government to reach a deal with bailout creditors had ratcheted up as Standard & Poor’s cut its credit rating on Greece further into junk status and warned of the country›s possible exit from the 19-nation eurozone.

Washington—Sen. John McCain, who seems to revel in the occasional lonely crusade, is now taking on America’s maritime industry and the longstanding law barring foreign-built ships from transporting goods within the United States.

Washington—The job market remains a frustrating place for America’s 9 million unemployed—perhaps more so as hiring has accelerated along with job postings.

Riza Lozada The government, through the Department Of Trade And Industry (DTI), is looking at the standardization of indigenous products to compete in the Asean integrated market.

The government is considering .the use of drones or remote-controlled air vehicles to monitor key projects as a show of determination of the Aquino administration to assure the people that public funds are well spent, Budget Secretary Florencio Abad said.

Economic officials and business leaders believe the country no longer deserves to be branded the “sick man of Asia” after its economy grew more than 6 percent for a third consecutive year.