USA will compensate WWII 24,000 Filipino Veterans

Filipinos who fought for the United States in World War II are shown last year at a Veterans Day ceremony in Manila. Romeo Gacad/Agence France-Presse — Getty Images

White House forms inter-agency group to aid Filipino WW II vets get compensation

To aid Filipino World War II veterans claiming compensation and recognition from the US government, the White House Initiative on Asian American and Pacific Islanders (WHIAAPI) formed an inter-agency group tasked to help these soldiers.

"The [group] will be tasked with analyzing the process faced by these Filipino veterans in demonstrating eligibility for compensation in order to ensure that all applications receive thorough and fair review," Chris Liu, assistant to the President and Cabinet Secretary, said in the WHIAAPI website last Oct. 17.

"This is part of the Obama Administration's ongoing efforts to honor the contributions of all veterans in their service to our country," Liu, who is WHIAAPI co-chair, also said.

The WHIAAPI is a federal working group that works to improve the quality of life of members of the AAPI communities. The initiative, in collaboration with the Office of Management and Budget, organized the inter-agency working group which will be composed by officials of the Department of Veterans Affairs, the Department of Defense and the National Archives and Records Administration.

Some 24,000 Filipino soldiers who fought for the United States in World War II were deemed ineligible to receive amounts from the Filipino Veterans Equity Compensation (FVEC) fund due to lack of required documentation.

It was President Obama in 2009 who authorized the $198-million FVEC via the American Recovery and Reinvestment Act. The fund allowed the one-time distribution of lump sum payments of $15,000 each to Filipino World War II veterans who are US citizens or residents. Veterans living in the Philippines were allotted $9,000 each.

But the VA had turned down thousands of claims because solders' names were not on the National Personnel Records Center in St. Louis, MO. This roster is what is used by the US government to determine military service, including service given in World War II. The Filipino veterans claiming compensation, however, had proof of US military service from the Philippine government.

These veterans who fought with American soldiers against the Japanese in World War II were promised military benefits sixty-six years ago by President Franklin Roosevelt. But in 1946, the US Congress passed the Rescission Act which stripped Filipinos of the benefits they were promised. Since then, several bills have been introduced in Congress in an attempt to give full equity to these Filipino war veterans.

With the growing number of denied compensation claims, legislators and community advocates have fought for the plight of these veterans.

In Nevada, five Filipino veterans are still fighting recognition and compensation. This prompted several legislators have filed bills for their cause.

Last Sept. 21. US Rep. Joe Heck of the state's third district introduced House Resolution 6464 which instructs the VA to accept documents from both the Philippine government and the US Army in determining eligibility.

Three weeks prior, on Sept. 12, US Sen. Dean Heller introduced to the senate the Filipino Veterans Fairness Act that will allow veterans "to work with military historians so they can receive proper benefits for their service."

A Las Vegas-based group advocating for Filipino World War II veterans, however, said last year that an executive order from the president is the fastest way to help these veterans.

In 2011, the Filipino American Veterans and Families of America had asked the WHIAAPI, which visited Las Vegas that year, to take up the issue with President Obama.

(Asian Journal Press http://goo.gl/IoaTl  )

 (Las Vegas October 18-24, 2012 Sec. A pg.1)

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S&P: Recommend Investors switch away from Indonesia in favor of the Philippines! Why?

Both Indonesia and the Philippines have some weaknesses to overcome before they break into the investment-grade rating category but are making steady progress, Standard & Poor's Ratings Services said in a report.

"The positive outlook on Indonesia recognizes ongoing improvement in the government's balance sheet and the country's income metrics. A modest improvement in the country's political and policy dynamics, combined with Indonesia's other credit attributes, could lead to an upgrade," credit analyst Agost Benard said on Thursday.

The stable outlook on the Philippines indicates that risks to the ratings are balanced, S&P said.

"The Philippines has narrowed its fiscal deficits, lessened its reliance on foreign savings, and rationalized the public sector. A more conducive political setting has replaced the turbulent and obstructionist environment that prevailed for well over a decade."

Indonesia faces key rating constraints due to the perception that reforms have stalled due to a lack of policy initiatives. The abandonment of a planned electricity tariff rise, inability to cut fuel subsidies and a rising trade deficit has added to this view, it said.

A positive outlook on the Indonesia rating suggests at least a one-in-three chance of an upgrade, S&P said, adding there is more upward than downward pressure on the rating.

At 11.41 a.m (0441 GMT) the Indonesian index was up 0.32 percent, while the Philippines index was up 0.06 percent

STOCKS NEWS INDONESIA

StanChart cuts stocks outlook to 'underweight' Standard Chartered Equity Research lowered its outlook on the Indonesian equity market to 'underweight' from 'neutral' citing concerns over lower corporate margins as food prices rise and commodity prices remain under pressure.

"We forecast this trend to continue and recommend investors switch away from Indonesia in favor of the Philippines, which we believe is only halfway through the same four-year re-rating process that Indonesia experienced between 2006 and 2010," analysts Clive McDonnell and Benjamin Wong said in a note on Thursday.

Investors have been steadily decreasing exposure to the Indonesian market as they look to reallocate to markets with lower valuation risk as recovery expectations revive in Asia, the research unit said.

Standard Chartered also cut its Jakarta Composite Index 12-month target to 4,400 from 4,500. At 10.55 a.m (0355 GMT) the Indonesian index was up 0.28 percent, while the Philippines index was up 0.11 percent.

Continue reading here http://goo.gl/Xk0Zh (Reuters)

Reuters 

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OFW Remittance Peaked up $15.3 Billion USD for 8 Months 2012 – More than 1 Million Deployment waiting

Overseas Filipino remittances sustain growth momentum, reaches US$15.3 billion

Philippine Economy Army (PEA/OFW) continues surging of 0.3 Million deployed with awaiting for deployment of more than 1 Million as of September 2012; Dollar remittances keeps growing up to $15.3 Billion USD.

Personal remittances from overseas Filipinos (OFs) continued to rise in August 2012, posting a growth of 7.9 percent from the year-ago level to reach US$2 billion, Bangko Sentral ng Pilipinas Officer-in-Charge Juan D. De Zuñiga, Jr. announced today.

This favorable development brought the cumulative personal remittances during the first eight months of the year to US$15.3 billion, higher by 5.6 percent compared to the level registered in the same period last year. Growth in remittances was sustained by higher personal transfers from land-based OF workers (OFWs) with work contracts of one year or more (by 3.3 percent), as well as sea-based workers and land-based workers with short-term contracts (by 13.3 percent).

Cash remittances from OFs coursed through banks likewise expanded by 5.5 percent to reach US$13.7 billion for the first eight months of 2012 relative to the level registered in the comparable period last year. The steady influx of remittances was observed from both sea-based (US$3.2 billion) and land-based workers (US$10.5 billion). Key sources of remittances were the U.S. (43.1 percent of total cash remittances), Canada (9.5 percent), Saudi Arabia (7.7 percent), the United Kingdom (4.9 percent), Japan (4.9 percent), the United Arab Emirates (4.2 percent), and Singapore (4 percent).

Preliminary reports by the Philippine Overseas Employment Administration (POEA) indicated continued demand for skilled Filipino workers. For the period January-September 2012, a total of 231,316 job orders mostly for service, production, and professional, technical and related workers were processed in response to the manpower requirements in Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Taiwan. The POEA also reported that workers with processed contracts and those awaiting deployment reached 1,081,513 for the first semester of 2012. However, this was lower by about 35 percent than the level recorded in the same period last year. Meanwhile, the Department of Labor and Employment (DOLE) reported last month that the Philippines ratified the Maritime Labor Convention (MLC), 2006, dubbed as the "Seafarers' International Bill of Rights" and the International Labor Organization (ILO) Convention No. 189 or the "Decent Work for Domestic Workers Convention." These measures should provide better work opportunities abroad through strengthened protection for OFs.

With expectations of sustained demand for skilled Filipino workers overseas, remittances are projected to continue to boost economic activity and provide a steady supply of foreign exchange. Moreover, the increasing use of financial channels for transfers and the continued introduction of innovations in remittance products are expected to contribute to the steady flow of remittances into the country.

Asian Journal

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