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International Business News
Philippine tourism sector breeds new jobs
Ann
New opportunities and jobs are surfacing in the wake of wide-ranging expansion moves in the tourism sector.
While travellers, foreign and locals alike, set their sights on traditional and emerging destinations and activities, the horizon for more tourism workers*-especially those with new expertise or hitherto irrelevant specialisations--widen as well.
The country's brisk tourism business is not only creating thousands of jobs but also spawning a new breed of professionals and developing a culture of product and service excellence," said Tourism Secretary Ace Durano.
Durano said that in the 3rd Trabaho sa hirismo fair held in Cebu City earlier this month. 2,000 from this event alone were on offer from participating tourism and travel-related companies.
"Among the newly-hired are those specialising in hotel and resort operations, retail, logistics and distribution," he said. "More jobs are being created and filled up as the indus-try expands and the Department of Tourism develops new and attractive tourism products for the various segments of the global market."
The tourism chief was referring to die affluent scuba divers in Europe, golfers in Korea, gateball players in Japan, ecotourists and nature lovers from around the world and, lately, bird watchers from the United Kingdom.
S Korean leader seeks trade
zone with Japan, China
AFP, Tokyo
South Korea's new president, Lee Myung-Bak, has said he backs a vast free-trade zone with Japan and China to boost the competitiveness of the three economic powers.
A free trade zone may be possible if each of the countries within the region works together," Lee said in an interview with foreign newspapers in Seoul, as quoted Monday by Japan's Nikkei business daily.
"By coordinating efforts, South Korea, China and Japan can maintain competitiveness in the global market. Japan should playa major role," Lee said.
South Korea has long been concerned that it is sandwiched between Japan, Asia's largest economy and a technological leader, and China, which is growing rapidly on its giant labour pool and manufacturing industry.
In a bid to secure South Korea's advantage, Lee's predecessor, Roh Moo-Hyun, negotiated a controversial free-trade deal with the United States.
Free trade talks between Japan and South Korea have been suspended since November 2004 as Seoul tried to open up Japan's agriculture market. Both countries heavily protect their farmers.
IMF forecasts GCC inflation
toriseto7pc
AFP, Manama
Overall inflation in the oil-rich Gulf Cooperation Council is expected to increase to about seven percent in 2008, the International Monetary Fund said on Monday.
"Overall inflationary pressures in 2008 are expected to increase to about seven percent on average," Gene Leon of the IMF's Middle East and Central Asia section told a forum in Bahrain.
The IMF had forecast overall inflation in the six GCC countries to be six percent in 2007 while it had expected inflation in Qatar and the United Arab Emirates to ease around 12 percent and eight percent respectively.
But in updated figures shown in Leon's presentation, inflation in Qatar has surged to around 14 percent in 2007 while consumer prices in the UAE were estimated to have risen to around 11 percent.
Toyota mulls building 5th engine plant in Japan
AFP, Toyota
Japan's largest automaker Toyota Motor Corp., which has seen strong growth in recent years, is studying building a fifth engine factory in Japan, a company official said Monday.
"It is one of our options," said Toyota spokesman Hideaki Honma.
He was referring to a weekend report by the Nikkei business daily that Toyota is planning to build its fifth engine factory in Japan by around 2010 in northern Miyagi prefecture.
We are constantly examining what is best for production, but nothing concrete has been decided yet," Honma said.
The Nikkei said the plant will manufacture some 200,000 engines a year for Toyota subcompact cars -- a rapidly growing market both at home and abroad at a time of high oil prices.