Economy

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.

Foreign trade groups are backing efforts in Congress to open local investment houses to foreign capital. Investment houses are currently among sectors in local business that the Constitution restricts foreign capital to 40 percent at most.

The Philippines is considered among the biggest beneficiaries of falling crude which just recently passed a record low of below $50 per barrel. The low oil prices will support the growth momentum of the country that momentarily slowed down as a result of stalled public spending that was believed to be the backlash of a Supreme Court ruling that declared …