A MECHANIC sits on top of the engine of a jeepney, a modified commuter jeep sporting a Mercedes Benz logo, as he does some repairs at the weekend in Manila. With the current unabated increases in the prices of oil, commuter jeep drivers suffer more. --AP

WEAK export growth and the increase in commodity prices will cut economic growth in the Philippines as well as other developing countries and East Asian economies, according to the latest study of the World Bank.

Per the World Bank’s Global Development Finance 2008, the country’s gross domestic product (GDP) will slow to 5.8 percent this year but will slowly inch up to 6.1 percent  and 6.2 percent in 2009 and 2010, respectively.

THE Executive assured the public Monday it is prepared to address any contingencies arising from high oil prices, which are not expected to abate anytime soon.

Executive Secretary Eduardo Ermita made the assurance after the Energy Contingency Task Force met with representatives of the Institute for Development and Econometric Analysis Inc. (Idea), a University of the Philippines-based economic think tank led by former socioeconomic planning secretary Cayetano Paderanga.

THE government remains upbeat about its economic prospects this year despite warnings of a “perfect economic storm” that may sweep through the country if high food and oil prices persist through 2009, Malacañang said Monday.

Deputy Presidential Spokesman Anthony Golez said in a statement that the Arroyo administration has “laid the strongest macroeconomic fundamentals that our country [has] ever had in order to weather any economic storm.”

FORESIGHT and civic support may yet save the day for the Department of Education (DepEd), which sees minimal wrinkles in Tuesday’s opening of classes nationwide.

The preparations made by the department during the summer break, such as the training of teachers and the implementation of the weeklong Brigada Eskwela, or the National Schools Maintenance Week that generated community support valued at P2. 3 billion, have kept expected first-day problems to a minimum, Education Secretary Jesli Lapus said Monday.

PINOY online power is getting the credit for the steady rankings—with one inching up from third to second—of four Philippine sites in the top 10 list of the ongoing “New Seven Wonders of Nature” search.

 Sen. Pia Cayetano noted that as of Monday, four local bets have secured top 10 slots in the prestigious search: Tubbataha Reef of Palawan (No. 2), Chocolate Hills of Bohol (No. 4), Puerto Princesa Subterranean River Natural Park (No. 6), also of Palawan, and Mayon Volcano of Bicol (No.10).

THE Philippine Independent Power Producers Association (Pippa) echoed Monday the opinion of the Joint Foreign Chambers that there is neither necessity nor expedience in amending the Electric Power Industry Reform Act (Epira) at this time.

“The implementation of reforms mandated by the Epira has gained tremendous momentum over the past two years, eclipsing the laggard pace in the early years following the law’s enactment,” said Ernesto Pantangco, Pippa president, adding that a competitive industry structure has taken root and critical activities are on their way to completion.

GOVERNMENTS, businesses and universities should increase support and funding for service information to ensure future economic prosperity and global competitiveness. This is the challenge seen in a recently released joint report by the University of Cambridge and computer giant IBM.

The report said service innovations continually feed improvements to the numerous service systems that people use or encounter daily in technology, people, organizations and information work.

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