Senate bill granting 13th month pay to all government workers filed 

A SENATOR has filed a bill that will grant 13th month pay to all government employees, including those under the contract-of-service scheme or job order arrangement.   “Their work is as heavy as the work of the regulars,” Senator Ramon B. Revilla, Jr., who chairs the Senate Committee on Civil Service, Government Reorganization and Professional Regulation, […]

Manhattan apartment rents inch up after 3 months of decline

MANHATTAN apartment rents climbed slightly in November after three months of declines. But the market isn’t returning to the hypercompetitive heights of the summer. The median rent rose 2.1% from October to $4,095, the third-highest level ever recorded by appraiser Miller Samuel, Inc. and brokerage Douglas Elliman Real Estate. Yet there were also indications that […]

‘Hot money’ outflows hit 17-month high

“Hot money” outflows hit a 17-month high in September, the central bank said. — REUTERS THE PHILIPPINES saw the biggest net outflow of short-term foreign investments in 17 months in September, reflecting the impact of the US Federal Reserve’s aggressive monetary tightening. Data from the Bangko Sentral ng Pilipinas (BSP) showed transactions on foreign investments […]

Peso may weaken on Fed hike bets

THE PESO may weaken further this week as faster-than-expected September US consumer inflation fueled market expectations of another big rate hike from the US Federal Reserve next month. The local unit closed at P58.935 per dollar on Friday, gaining 6.5 centavos from its P59 finish on Thursday, based on Bankers Association of the Philippines data. […]

Peso slips as OPEC cuts output

THE PESO inched down on Thursday as the Organization of the Petroleum Exporting Countries agreed to cut output to support oil prices. — BW FILE PHOTO THE PESO slipped versus the dollar on Thursday after oil exporting countries announced an output cut, fanning inflation concerns. The local unit closed at P58.653 against the greenback on […]

Senator asks Labor dep’t to partner with LGUs to penalize firms violating 13th month pay law

A SENATOR has asked the Department of Labor and Employment (DoLE) to partner with local governments to be able to penalize companies that fail to release the mandatory 13th month pay of workers. Under Senator Raffy T. Tulfo’s proposal, local government units (LGUs) will get authority to withhold the annual business permit renewal of a […]