Economy

Davao drivers and operators demand the scrapping of VAT on oil

By MARILOU AGUIRRE-TUBURAN | Davao Today

According to the Transport of Southern Mindanao for Solidarity, Independence and Nationalism (Transmision) computations, a driver who consumes an average of 30 liters per day loses 747.30 pesos in his day's income compared to the 2005 level. The one-peso fare hike allows the driver to recover 250 pesos of this lost income, if he maintains the average number of passengers in a day. But he still has to contend with the 497.30 pesos deficit.

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OFWs in US not recession proof; expect slump in remittances, economic crunch — Maza

Gabriela Women's Party Representative Liza Maza said Malacanang's economic managers should stop sugarcoating the global financial crisis and its impact on the Philippine economy and tell it like it is.…

Continue ReadingOFWs in US not recession proof; expect slump in remittances, economic crunch — Maza


SHANTIES. A giant billboard stands obtrusively against the shanties along the riverbank of Davao River. About one third of Filipinos are living below the poverty line, their condition worsened by rising inflation, which registered a 17-year high last month. The National Statistical Coordination Board (NSCB) reported in its latest poverty survey released in May that the number of " poor" Filipinos grew from 23.8 million in 2003 to 27.6 million in 2006. (Photo by Keith Bacongco / AKP Images)

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