Tag Archives: economy

Miss Universe 2016 will be held in the Philippines

Article from www.filamstar.com

By Corina Oliquino | FilAm Star Correspondent

MANILA — It’s official! The Miss Universe 2016 beauty pageant will happen in the Philippines as announced by the reigning Miss Universe Pia Wurtzbach last November 3.

In an Instagram video uploaded by Department of Tourism Undersecretary Kat de Castro, the Filipina beauty queen announced and confirmed that finally, the pageant will be held in the country on January 30, 2017 with the pre-pageant on January 13, 2017.

“Hi guys! Mabuhay! I’m so excited to share with you all that, yes, the Miss Universe competition is indeed happening in the Philippines and I can’t wait to show you all my beautiful country,” Wurtzbach announced in the Instagram video.

Continue reading Miss Universe 2016 will be held in the Philippines

Gov’t rejects PHP 125 daily minimum increase

Article from www.filamstar.com
By William Casis | FilAm Star Correspondent

Economic Planning Secretary Ernesto Pernia said the government rejected the proposed PHP 125 increase in the daily minimum wage, saying this could displace workers, increase inflation and affect the economy.

He said NEDA conducted an impact analysis and found that the proposed wage hike would affect employment because many small companies would not be able to afford to keep their workers or hire more.

“Especially micro, small and medium enterprises will be hard up with that kind of an increase,” Pernia said.

Continue reading Gov’t rejects PHP 125 daily minimum increase

Peso at its lowest in 7 years as foreign investors continue to pull out; gov’t denies it’s due to Duterte’s controversial statements

Article from www.filamstar.com
By Corina Oliquino | FilAm Star Correspondent

MANILA — The peso closes on its 7-year low with P48.25 to the U.S. dollar on September 26 due to foreign fund exit and political and security concerns.

The peso sank by P0.26 centavos from the closing rate of P47.99 last September 23, 2016 to Monday’s downgrade of P48.25. This tallied the weakest showingl of the Philippine peso against the dollar since September 16, 2009 when it sank P48.356 to $1.

Continue reading Peso at its lowest in 7 years as foreign investors continue to pull out; gov’t denies it’s due to Duterte’s controversial statements

U.S. Workers Sending Money to India Encourage Foreign Growth

Family Sending Money to India Help to Bolster Indian GDP

As India continues to top the charts for money remittance, their economy is experiencing a healthy recovery. Money transfer to India has been a stabilizing force for their economy in a number of ways. In 2014 alone, $70 million American dollars were sent to India. Not only was this money a welcome contribution to households depending on money sent to them due to lost wages, this cash infusion has positively affected the Indian economy on a macro level.

Continue reading U.S. Workers Sending Money to India Encourage Foreign Growth