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Financial markets worldwide have exhibited extremely erratic behavior in the past two weeks. Locally, the stock market posted last Thursday its worst performance since the subprime crisis in 2008. The peso was similarly battered, falling from a high of 40.83 to a dollar to breach the P43:$1 mark (many analysts and economists had predicted the opposite). The local bourse hit its lowest level this year. The benchmark Philippine Stock Exchange index plunged 442.57 points (or 6.75 percent) in just a day last Thursday to 6,114.08. It was the biggest single-day loss since Oct. 27, 2008, when the local price barometer tumbled 12.27 percent just a month after investment banking giant Lehman Brothers collapsed, triggering the world’s worst financial crisis since the Great Depression at the end of the 1920s.
By Juan L. Mercado
“A good newspaper is never nearly good enough. But a lousy newspaper is a joy forever,” an old wisecrack goes. It resonated in the Philippine Press Institute (PPI) conference: “Watching the Watchdog: Re-examining Ourselves.”
By Conrado de Quiros
Quacquarelli Symonds, a British organization specializing in education, confirms what most of us pretty much know or suspect. The quality of our education is falling.
By John Nery
Marcelo del Pilar left behind dozens of letters—altogether a wonderful read for Filipinos interested in history. Many of his letters were written in Filipino, especially those he wrote to his wife and his daughters, but these also include important, indeed historical, letters to Jose Rizal.
By Cielito F. Habito
Everybody’s talking about inclusive growth, but the latest labor and employment data suggest that the breathtaking growth our economy has been achieving lately—the fastest in all of Asia, in fact—is anything but that. The latest quarterly Labor Force Survey (LFS) of the National Statistics Office (NSO) reports that there were actually 21,000 fewer jobs overall last April compared to a year ago.
By Rina Jimenez-David
“Dengue season” is upon us, what with the onset of the rainy season. This is because the rains and floods create stagnant pools of water where mosquitoes bearing the dengue-causing organism breed. But in truth, as the Department of Health says, dengue is a year-round threat, since many households still harbor locations and containers where water may collect—drums, pails, tires, ponds, fountains, gutters, even vases—which even at the height of summer may host mosquito populations.
By Mariel Alonzo
I am walking one glorious day. I am walking out of our two-story rented home, sidestepping the pool of algae forming in front of our gate (a cesspool of malaria), turning right, then left, then right again, and ultimately out of the quaint suburban village.
Now that the rainy season is here, floods are once again a common sight—nay, experience—in many places around Metro Manila and the rest of the country. To solve this perennial problem, the Department of Public Works and Highways (DPWH) and the Metro Manila Development Authority (MMDA) are doing their best to widen and clean up clogged waterways. However, their efforts are negated by the still large volume of all kinds of trash thrown into the waterways by careless informal settlers or squatters who have built their shanties along their banks.
The flash floods that recently submerged large parts of Manila and Quezon City were not totally unexpected, and everyone should have been prepared for the eventuality considering that floods caused by heavy rains have practically become an annual experience for commuters and motorists during the rainy season.
I write this in reaction to the letter titled “Casiño a leftist but not a genuine nationalist” (Inquirer, 5/25/13).
This refers to the Philippine Daily Inquirer’s June 11 editorial titled “The virus of racism.” I applaud the paper’s support for Philippine football by informing the public of its accomplishments, thus helping promote the sport. However, I disagree with that part that says, “the Philippines scored its first victory over Hong Kong since 1958.”
This is in reaction to Ramon Tulfo’s June 6 and June 11 columns in the Metro section of this paper, specifically his mention of my company and my principal investor.