The author, Cindy Domingo, at the Bantayog ng mga Bayani in Quezon City, where the the names of her brother Silme Domingo and friend Gene Viernes, Fil-Am trade unionists, are inscribed. CONTRIBUTED SEATTLE – My heart is heavy with sadness and anger as I organize the annual dinner of A Legacy of Equality Leadership and Organizing (LELO) to honor the 41 st anniversary of the deaths of my brother Silme Domingo and his fellow union brother and friend Gene Viernes. Ferdinand Marcos, Jr., the son of the dictator who was responsible for their assassinations in Seattle on June 1, 1981, has been elected president of the Philippines. Many from Seattle and beyond still remember their cold-blooded murders by Marcos gunmen that took place during afternoon rush hour at the Pioneer Square offices of the Alaska Cannery Workers Union, Local 37, International Longshore and Warehouse Union. It took eight years, three murder trials, and a federal civil suit to bring to justice those who were … [Read more...] about A Time to Rise, Again!
Government pension reform
PHUKET: It’s natural to experience culture shock as an expat, but the real shock comes when expats consider just how complicated proper investment or financial planning becomes after they expatriate from their home countries. Here are some of the key areas expats will need to have a plan for and likely consult with knowledgeable experts about. EXCHANGE RATE AND REMITTANCE Expats whose income is largely fixed and denominated in a currency different from that used in the country in which they are living need to have a plan for dealing with exchange rate fluctuations as well as transactional costs of having their money remitted to them. In the worst case scenario, where the exchange rate makes a big and sustained movement not in the expats’ favor, they may have to plan on making major cutbacks in living expenses or even return home. INFLATION For most expats in Phuket, their home country has low inflation and low interest rates. Expats need to tie up cash in a much … [Read more...] about Phuket Finance: An expat’s guide to the inevitable
- A + A LONDON (May 26): Britain announced a 25% windfall tax on oil and gas producers' profits on Thursday, alongside a £15 billion (US$18.9 billion) package of support for households struggling to meet soaring energy bills. The move, which will give each UK household a £400 discount on their energy bill and more for lowest-income households, marks a change of heart for Prime Minister Boris Johnson's government, which had previously resisted windfall taxes, calling them a deterrent to investment. It is the second emergency policy intervention to help with rising bills this year. Facing intense political pressure to provide more support for people coping with what political opponents and campaigners have called a cost-of-living crisis, finance minister Rishi Sunak said energy firms were making extraordinary profits while Britons struggled. "We will introduce a temporary and targeted energy profits levy but we have built into the new levy a new investment … [Read more...] about UK imposes 25% energy windfall tax to help households as bills surge
From left to right: Benjamin Diokno, Felipe Medalla, Manuel Bonoan, and Anton Lagdameo Earning an early thumbs-up from business groups, President-elect Ferdinand Marcos Jr. on Thursday announced new appointments to his economic team, emphasizing his incoming administration’s focus on steering the economy out of a slump. A day after he and Vice President-elect Sara Duterte were proclaimed winners by Congress in the May 9 polls, Marcos said he was nominating Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno as his finance secretary and then President Joseph Estrada’s former National Economic Development Authority (Neda) chief Felipe Medalla as BSP governor. Diokno has been the BSP governor since 2019. He was budget secretary under the Duterte administration from 2016 to 2019 and under the Estrada regime from 1998 to 2001. He was named best central banker in the world, the first for a Filipino, by London-based international finance magazine The Banker. He holds a Ph.D. in … [Read more...] about Business groups nod as Marcos forms economic team
- A + A (May 26): Alibaba Group Holding Ltd’s quarterly revenue rose a better-than-expected 9%, reassuring investors trying to come to grips with the economic cost of sweeping lockdowns intended to eradicate Covid-19. But China’s e-commerce leader also refrained from offering its usual outlook for the year, underscoring the unpredictable impact of a Covid Zero policy that’s already cast the country’s supply chains into disarray and hammered consumer sentiment. Alibaba — a barometer for Chinese consumer sentiment because of its dominance of Asia’s largest retail arena — is grappling with intensifying competition and mounting economic uncertainty at home. This week, Chinese Premier Li Keqiang warned of dire consequences if officials didn’t move decisively to safeguard the economy. Alibaba will play its part in helping shore up the economy, Chief Executive Officer Daniel Zhang told analysts on a post-earnings conference call. The company’s own revenues had slid by a … [Read more...] about Alibaba’s sales beat estimates, eases fears of Covid’s economic fallout
Share to Twitter Share to Linkedin The Biden administration is in the process of implementing significant new federal student loan forgiveness initiatives. These programs may ultimately help millions of borrowers get closer to having their student loans cancelled. But depending on the specific program and the exact timing of that loan forgiveness, some borrowers may wind up getting hit with a surprise penalty: extra taxes. Biden Makes Big Changes To Key Student Loan Forgiveness and Repayment Programs In April, the Biden administration announced historic reforms to federal student loan income-driven repayment (IDR) programs , which include Income Based Repayment (IBR), Revised Pay As You Earn (REPAYE), and other plans. IDR plans allow federal student loan borrowers to make payments based on their income and family size. After 20 or 25 years in the program (depending on the specific plan), any remaining balance can be forgiven. IDR plans have … [Read more...] about Biden’s New Student Loan Forgiveness Changes May Wind Up Costing Some Borrowers
Share to Twitter Share to Linkedin Over the course of the last seven months, the Biden administration has announced a series of initiatives to expand student loan forgiveness under two key existing programs. The Education Department indicates that millions of borrowers will benefit from the new changes. But several cohorts of borrowers continue to be excluded from new student loan forgiveness expansions. And as President Biden reportedly considers an even broader student loan cancellation initiative, many may be wondering if they will be left out yet again. Biden Expands Student Loan Forgiveness Under PSLF and IDR Last October, President Biden announced sweeping changes to the Public Service Loan Forgiveness (PSLF) program , which provides loan forgiveness to borrowers after 10 years of qualifying employment in nonprofit or government work. Dubbed the “Limited PSLF Waiver,” the temporary changes will allow the Department of Education to count periods … [Read more...] about Student Loan Forgiveness Is Expanded, But Not For These Borrowers — Will They Be Left Out Of Broad Cancellation, Too?
Chadchart Sittipunt rides a bike after casting his vote in the governor elections in Bangkok on Sunday. AFP Among the myriad of implications over Chadchart Sittipunt's thumping triumph in Bangkok's gubernatorial election last Sunday is the restoration of Thailand's self-confidence and Thais' sense of belief that tomorrow will be better than today. After years of political decay and entrenching economic stagnation stemming from societal divisions, Mr Chadchart brings into office what has been described as a "rainbow" coalition made up of people from different walks of life and political party lines, transcending the progressive and conservative sides of the political divide. But as his honeymoon period will soon subside, the Bangkok governor-elect faces daunting and dark challenges. High public expectation over his election victory reflects Thailand's longstanding political malaise and economic slump as well as the public's frustration with the incompetence of the powers-that-be in … [Read more...] about Chadchart’s effect on Thai politics