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Port congestion forces 2 export companies to shut down operations

An American electronics manufacturing company has shut down its Philippine operation while a Cebu-based furniture maker has moved out to Indonesia following hemorrhaging losses due to the prolonged port congestion. Philexport president Sergio Ortiz-Luis Jr. revealed this in a speech during its 4th General Membership Meeting in Manila. “The port congestion has cost up to […]

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WTO Doha deal would make world $11 trillion richer by 2030 – economists

Geneva– Sealing a global free trade deal would add $11 trillion to the world economy and pull 160 million people out of poverty by 2030, economists said in a study published Tuesday. Member states of the World Trade Organization (WTO) launched negotiations in 2001 in the Qatari capital Doha for a global deal on slashing […]

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Counterfeit goods shifting to drugs, foods, shampoos

The share of fake optical media in the  value of counterfeit goods in the Philippines has significantly dropped as fake medicines and food and shampoo  items in sachet packages are on the rise. Atty. Ricardo Blancaflor, director of the Intellectual Property Office of the Philippines (IPOPHL), told reporters at the 4th Philippine Anti-Counterfeiting and Piracy […]

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Labor sector fears being ‘left out’

The labor sector has criticized the government for leaving the human capital development component behind in the development of the industry roadmap warning that the much hoped for resurgence of the manufacturing sector rests on the skills set of its manpower. Dave Diwa, president of the National Labor Union, raised the human resource component at […]

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Business hits ‘opportunistic’ shipping lines

Businessmen have cried foul against  “opportunistic” shipping lines for continuing to impose unwarranted charges to traders even if the port congestion has eased a bit following the lifting of the day time truck ban. Alfredo Yao, president of the Philippine Chamber of Commerce and Industry, told reporters that even if the port congestion problem is […]

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Future chef says PH ready for integration

Raymart Earale, a maintenance crew at SM Sta. Mesa-Manila, thinks the Philippines’ participation in the ASEAN 2015 regional integration will benefit new employees such as himself. At only 21 years old, this second-year college student missed the last semestral enrollment to work, at least until the next term. Temporarily, he is part of maintenance janitorial […]

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Seychelles seals WTO entry after 18 years

Geneva – The Seychelles on Friday sealed its entry to the World Trade Organization (WTO), the Geneva-based body whose 160 members set the rules of global commerce said Friday. The Indian Ocean island, which has spent 18 years negotiating to join, is set to win formal approval in December from the WTO’s ruling body to […]

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EU, Singapore conclude free trade negotiation

Brussels – The European Union has concluded talks on a free trade deal with Singapore by adding investor protection clauses, which critics like Germany say give multinationals too much power. The European Commission said on Friday that the investment accord concluded negotiations of the EU-Singapore Free Trade Agreement (EUSFTA), other parts of which were settled […]

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Cars can wait, but not motorcycles – roadmap

The motorcycle industry said that development of the four-wheel vehicle sector can wait, but not the two-wheel sector  if the government wants to seize the sector’s economic benefits as majority of Filipinos — especially those in the provinces — have already embraced motorcycles as practical transport system and important entrepreneurial tool. This was the gist […]

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Auto dev’t program could save $17 billion in foreign exchange

Implementing the proposed five-year automotive industry development program could result in $16.84 billion in foreign exchange savings for the country, data from the Department of Trade and Industry (DTI) showed. DTI Assistant Secretary Rafaelita Aldaba made this presentation at yesterday’s Trade and Industry Development Updates which focuses on “Enhancing Philippine Competitiveness:  Human Resource Development Programs […]

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