Gulf Oil Wealth

Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the International Monetary Fund warned. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the IMF said in a study on “the future of oil and fiscal sustainability” in the region. …

Pork Supply Stable

The government maintained there is enough supply of pork and other products in the country even as the African swine fever has already spread to Davao. The Department of Agriculture said only 1.7 percent of the 12.7 million national swine population has been culled. “From the 216,000 depopulated swine, only about 13 percent is sick, but because of the 1-7-10 …

DBM Assists LGUs

The Department of Budget and Management has allocated 4.9 billion pesos for the provision of financial assistance to local government units to support their priority programs, especially infrastructure development. The priority projects include the construction, rehabilitation or repair of roads, bridges, public markets, slaughter houses, multipurpose buildings and pavements, drainage canals, sea or river walls, water systems, evacuation centers, public …

NCOV Effect on Business

China’s cabinet said on February 9 it would introduce targeted and coordinated measures to ensure smooth work resumption. The State Council’s special coronavirus group also said workers should return in “batches,” rather than all at once, in order to reduce infection risks. Apple said it is extending its retail store closures in China due to the coronavirus. The company said …

POGO Jobs

Only two out of every 10 available jobs in the Philippine offshore gaming operations industry go to Filipinos, according to Senator Joel Villanueva. Citing data from the Philippine Amusement and Gaming Corporation, Villanueva disclosed that as of December 2019, only 18% of Pogo workers are Filipinos while 82% are foreigners. “If legitimate Pogo companies…employ few Filipinos, we can only surmise …

Gulf Oil Wealth

Energy-addicted Gulf states must undertake much deeper reforms or risk seeing their wealth drain away in 15 years as global demand for oil slides, the International Monetary Fund warned. “At the current fiscal stance, the region’s financial wealth could be depleted by 2034,” the IMF said in a study on “the future of oil and fiscal sustainability” in the region. …