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Bacolod City, PhilippinesFriday, May 2, 2014
169 hired on the spot
at Labor Day jobs fair

Only 7.09 percent of the job seekers at the Labor Day Job Fair spearheaded by the Department of Labor and Employment and ABS-CBN, held at the Transport Hub of SM City Bacolod yesterday were hired on the spot.

May Castro, SM City Bacolod Public Relations Manager, said only 169 out of 2,383 job seekers, were hired on the spot.

Other jobseekers underwent further interviews by the companies they have applied with, Castro said.

Fitch affirms 5 banks' ratings

Fitch Ratings Inc. has affirmed the ratings of three Philippine banks, upgraded to investment grade with stable outlook the rating of Metropolitan Bank & Trust Company, and revised to “positive” from “stable” the ratings outlook of Banco de Oro Unibank Inc.

The three banks with affirmed ratings are Ayala-led Bank of the Philippine Island at “BBB-“ or investment grade with stable outlook for its Long-Term Foreign-Currency IDR; and government financial institutions Development Bank of the Philippines, 'BB+' with stable outlook; and Land Bank of the Philippines, “BB+” with stable outlook.

Fitch currently gives BDO a “BB+” rating with positive outlook.

DOLE cleans list
of subcontractors

The Department of Labor and Employment said yesterday it had trimmed the number of registered subcontractors from 17,000 to only 5,581 as of March 2014.

Labor and Employment Secretary Rosalinda Baldoz said those removed from the list were fly-by-night subcontractors while those retained are legitimate subcontractors who comply with labor laws and are registered with the DOLE under the requirements, terms, and conditions of Department Order No.18-A.

“Through Department Order No. 18-A, which I issued to amend D.O. 18 on subcontracting, we have whittled down the number of subcontractors registered under D.O. 18-02 from 17,000 to only 5,581 as of March 2014,” Baldoz said.

Business
Button 169 hired on the spot at Labor Day jobs fair
Button Fitch affirms 5 banks' ratings
Button DOLE cleans list of subcontractors

Button FDA warns anew vs. ‘harmful lipsticks'
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