...number of migrant workers. The Philippines is one of the highest producers of laborers that are being sent out from the country. In 2014, the POEA reported that there was a total of 1,832,668 deployed overseas Filipino workers, of which 1,430,842 are landbased workers while 401,826 are seabased workers. 487,178 of that total number are New Hires while 943,666 are Rehires. These overseas workers are sent to top destinations such as Saudi Arabia, United Arab Emirates, Singapore, Qatar and Hong Kong for the new hires and the rehires . Overseas Filipino Workers are called modern day heroes, who work away from their home and from their family and whose remmittances help boost the economy. Because our nation benefits from our fellow overseas filipino workers, with the improvement of the economy through the help of their remmittances, it is but just and fair that the country ensures their protection from maltreatment and abuse in foreign lands. In the Philippines it is the POEA where overseas filipino workers can seek recourse but sometimes the state may need assistance in the international level. When the state cannot act alone to find relief for the worker, the International Labour Organization, with its knowledge, experience, expertise, and authority with regard to labor standards would be the best forum to seek relief, recourse, or assistance. Thus, in a time where the world lowers its borders for the freer movement of labor capital, so must we give more recognition to an international...
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...ECONOMICS & STRATEGY THE JSK STRATEGIST June 07, 2010 Federal Budget 2011: Affordability Vs. Sustainability!! A Blurry Hype Or A Leap Of Faith?? Executive Summary At the national front, government remained excessively occupied with budgetary measures to be adopted in the finance bill, that were announced on June 5th. Capital market participants and investors, in anticipation, distanced away from large exposures as federal budget closed in, with implementation of Capital Gains Tax (CGT) on stock market transactions. Nationwide implementation Value Added Tax (VAT) regime at 15% has been deferred by three months in order to develop a productive framework for enforcement and collection mechanisms. Addressing IMF’s concerns, the removal of subsidies and a raise in power tariff by 6%, in addition to the expansion of country’s tax base remained core issues in recent budget announcements. Economic Recovery: Exceeds Expectations! Federal government revised GDP growth levels to 4.5% from a low of 4.1% sighting better than expected economic recovery for FY2010. Expansion in large scale manufacturing and growth in services sector would be the key factors contributing to economic growth with 5.6% share of manufacturing, 4.6% for services and 3.8% for agriculture sector. Also, the crippling power sector with the introduction of costly rental power plants is expected to provide significant relief to the industrial sector. Additionally, government is making all out efforts to curtail...
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...Internship Report: BANK ALFALAH LIMITED Submitted By: MAIDAH MASOOD Roll # 107 Section: “C” Morning B-Com (Hons) Session: 2005-2009 Hailey College of Commerce, University of the Punjab, Lahore. The evolution of Bank Alfalah signifies a movement from concept to reality; a reality to bring about a change in the banking industries of Pakistan; offering an alternative way of banking; providing people an opportunity to practice beliefs in their financial matters. Following privatization, Bank Alfalah emerged as new identity of Habib Credit and Exchange Bank with a revived purpose and commitment. Charged with the strength of Abu Dhabi consortium and under the leadership of His Highness Sheikh Nahayan Mabarak Al-Nayayan, the bank has already made significant contributions in building and strengthening both corporate and retail banking sector in Pakistan. At present the bank has expanded its operations across Pakistan in 74 cities with 189 operational branches. However, it has total 195 branches that include 23 Islamic Banking branches, five overseas branches three in Bangladesh and two in Afghanistan and one offshore banking unit in Bahrain. It is pertinent to note that all of its branches commenced their operations in “Real Time Online Mode”. Today Bank Alfalah is the fifth largest Banking operation in Pakistan. Since its inception, it has registered the fastest growth rate ever...
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