Philippine economy one of strongest in the Asia Pacific region
Members of the APEC Business Advisory Council (ABAC) regarded the country’s economy as one of the strongest in the Asia Pacific region and expect it to grow between 6–7 percent. Anthony J.L. Nightingale, one of ABAC members and Director of the Jardine Matheson Holdings Limited, said “It is clear to all of us that the [...]
2013 Indonesia Hosts Asia-Pacific Economic Cooperation (APEC) Summit
This year, Indonesia will be hosting the Asia-Pacific Economic Cooperation (APEC) Summit. This is the second time that Indonesia will be hosting the APEC Summit, after 1994. Indonesia is determined to promote a stronger and a resilient Asia Pacific region, as the locomotive for the world`s economic growth. Indonesia`s President, Susilo Bambang Yudhoyono, has announced [...]
Philippine President Aquino Saves National Economy
A little more than two years after the Aquino administration took office, the Philippines has successfully placed itself just one notch below investment grade in all three major credit ratings agencies after nine positive ratings action since July 2010. Moody’s on Monday upgraded the Philippines’ foreign and local currency long-term bond ratings to Ba1 from [...]
Senator Ralph Recto Favors the Rich and Elite?
Anti-smoking group Framework Convention on Tobacco Control (FCTC) asked Sen. Ralph Recto on Saturday to explain how he proposes to manage a cancer epidemic as a result of his watered-down proposal on the sin tax bill on tobacco products. “Senator Recto should now explain just how he thinks the Philippines will manage a lung cancer [...]
Philippines Secures P2.523-billion surplus in August 2012
By Ernesto V. Afable The Aquino government has registered a P2.523-billion surplus in August, resulting from revenues expanding 4.2% year-on-year to P129.408 billion, and expenditures expanding 10.4% year-on-year to P126.885 billion. Finance Secretary Cesar V. Purisima reported that the Philippines continues to be in a fiscal sweet spot – with the surplus — generating wide [...]
Gotianum-led East West Banking Corporation or EastWest Bank
Micro, small and medium enterprises (MSMEs) in Sultan Kudarat province are getting another boost with the upcoming expansion in Tacurong City of the Gotianum-led East West Banking Corporation or EastWest Bank. Erwin Garcia, chair of the Sultan Kudarat Provincial Small and Medium Enterprises Development (PSMED) Council, said EastWest Bank has formally signified to open a [...]
Indonesian central bank regulates multiple banking service licenses
The Indonesian central bank will soon issue a regulation on multiple banking service licenses to primarily ease foreign expansion into the local banking industry, a top official said Tuesday. The plan came as the Central Bank Governor Darmin Nasution had voiced his concern on several occasions about the aggressive expansion of foreign banks into the [...]
Economic Provisions of 1987 Philippine Constitution Need Change
By Lilybeth G. Ison House Speaker Feliciano Belmonte Jr. said on Tuesday the Philippine mining industry can grow much further, and contribute more to government revenues, rural development, and economic growth if amendments will be made in the economic provisions of the decades-old 1987 Constitution. “Today, the constitutionality of the Mining Act of 1995 is [...]
China’s non-manufacturing activity goes up
China’s non-manufacturing activity rose in August despite the country’s slowing economy, an industry group said Monday. The Purchasing Managers Index (PMI) of China’s non-manufacturing sector came in at 56.3 percent in August, up from 55.6 percent a month earlier, according to the China Federation of Logistics and Purchasing (CFLP). A reading of 50 or above [...]