Tuesday, December 18, 2007

What's up this week?

I don't know, but I feel depressed. Hay....when this kind of feeling sets in, its always an uphill strugle for me.


OK, good news for this week are as follows:

The country’s unemployment rate eased to 6.3 percent in October from 7.3 percent in the same period last year as gains in services and industry offset the decline in the labor force participation rate. The total number of Filipinos employed reached 33.7 million in October this year, or 1.5 percent higher than the same period last year.


Another is, the National Government may further reduce its foreign borrowings next year and change the borrowing mix to 75-25 percent in favor of domestic sources.


World oil prices slumped below $90 a barrel on Tuesday. US crude fell $1.66 to $88.97a barrel by 1710 GMT, after rising as high as $92.88 earlier on news Turkish troops had entered northern Iraq to fight Kurdish rebels. London Brent crude dove $1.84 to $89.45 a barrel.


And what's more significant for us, is this:

Electricity consumers can expect the “generation charge” component of their power bills to go down in the first quarter in 2008. The Energy Regulatory Commission is likely to approve a petition of government-owned electricity producer National Power Corp. (Napocor) to recover generation and foreign-exchange-related costs, which ERC Chairman Rodolfo Albano Jr. said would result in a rate cut because of the strengthening of the peso and efficient operation of some Napocor plants.

How much is the reduction will be remains to be seen. But at least, it is good to know that our electric bill will not go up, but down.