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overseas Filipino workers (OFWs) are changing their
local currency into the stable euro (rather than the
weakening US dollar) before remitting the money to their
families in the Philippines.
As it
is, the remittance business has seen a significant drop
in total value last month and this trend is expected
until the third week of December. In part, this is
because many OFWs are coming home for Christmas instead
of sending money home).
Even as
the Coca-Cola Export Co. has been all over the place
(read: it has been pretty successful in repositioning
its anchor brand, Coke, as a product that complements a
healthy lifestyle), the company has been busy retiring
the veterans. In large part, these old hands have priced
themselves out of the market.
Meanwhile, the company has been on the lookout for young
whiz kids willing to work for less pay.
Bank
notes 1:
Retired banker Jose Facundo is still spry enough to play
golf. And, hey, his ears remain sharp as Development
Bank of the
Philippines
president Reynaldo David found out.
Bank
notes 2:
No
doubt about it, the old deputy governor office of Bangko
Sentral ng Pilipinas Governor Amado Tetangco Jr. is very
nice to look at. After all, the room had been renovated
to reflect “Say” Tetangco’s rise in, uhm, gravitas while
he took more than a year to move to the governor’s
office.
These
days, the office looks forlorn. It seems all the deputy
governors are pretty much happy with their own offices.
Would-be
entrepreneurs might be interested in the business
starter kit put together by the Bureau of Small and
Medium Enterprise Development, which is headed by Trade
and Industry director Rhodora Leano.
The kit
includes a glossary-monograph of business terms and
concepts. Here are some interesting terms and their
definitions:
§
Cybersquatting—“the registration of a commercially
valuable Internet domain name, as a trademark, with the
intention of selling it or profiting from its use.”
§
Geographical indication—“signs used on goods that have a
specific geographical origin and possess qualities or a
reputation that are due to that place of origin. Most
commonly, a geographical indication consists of the name
of the place of the goods. Example is ‘Switzerland’ or
‘Swiss’, which is widely perceived as a geographical
indication for products that are made in Switzerland
and, in particular, for watches.”
§
Haram—“a
Quranic terms which means prohibited or unlawful. Haram
foods and drinks are absolutely prohibited by Allah.
Eating Haram is prohibited for all Muslim.”
§
Monopsony—“the existence of only one buyer in a market,
forcing sellers to accept a lower price than the
socially optimal price.” |
