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Showing posts from April, 2010

THE PHILIPPINES THREATENED BY CLOSER CHINA-TAIWAN RELATIONS

Closer trade relations between Taiwan and mainland China may lure 135 Taiwanese export companies in Philippine economic zones and free ports to move out, threatening local exports, tourism and the jobs of Filipino based in Taiwan. The Philippines could lose foreign direct investments from Taiwan as a result of a looming economic cooperation framework agreement between it and the China mainland. Taiwanese companies invested $6.51 million in so-called brick and mortar enterprises here that generated jobs for thousands of Filipino in 2008, before dropping by 80% to $1.34 million in 2009 last year amid the global economic slump. As of january, foreign direct investment from Taiwan posted a net inflow of $430,000. Fewer locators will result in fewer export.There was also a 14.7% drop in tourist arrivals from Taiwan last year, as Taiwanese tourists chose to travel to China, which has relaxed travel restrictions on them. Filipino workers in Taiwan may lose their jobs if more Taiwanese

TOTAL BLACKOUT IN SIARGAO ISLANDS

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SIARGAO ISLANDS IN TOTAL BLACKOUT FOR OVER A WEEK. The second home of many foreign tourists, especially surfing buffs in the dark. For over a week now, the Siargao group of islands, the country top surfing destination, is still in total blackout, caused by a damage of its underwater power cable. The underwater power cable near Barangay Doña Helen in the island town of Soccoro was discover having damage last April 1. Divers from Davao have already been dispatched by Siarelco, the local electric company, in the area to determine the extent of the damage of the 9.32 kilometer underwater power line. Months of repair work may be needed to completely restore to normal levels the power supply to the islands. The situation may have a huge impact on tourist arrivals here. The island has become the second home of many foreign tourists, especially surfing buffs. The commission on elections in Caraga Region headquarters is worried about the possibility that the blackout may last until the