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 [...]
President Benigno S. Aquino III Improves Philippine Economy
President Benigno S. Aquino III remains committed to push the country’s economic growth in a solid upward trajectory by minimizing political risks. The government has taken significant steps to achieve its goal to further improve the country’s business climate, the Chief Executive told a business forum in Australia Thursday. “We have taken the necessary steps [...]
Growth and monetary policy in ASEAN countries
The Philippines along with some Association of Southeast Asian Nation (ASEAN) countries are in the “sweet spot” in terms of growth and monetary policy, Moody’s Analytics said. In a report dubbed “ASEAN Outlook: A Bright Spot” penned by Katrina Ell and Fred Gibson, Moody’s Corporation’s economic analysis arm, said that for one, central banks in [...]
Economic zones approved by PEZA for Caraga Region
By Ben Serrano One of the only two economic zones in Agusan del Norte and the only economic zones approved by PEZA for Caraga Region is now up for lease from P3.00 Pesos to P5.00 Pesos only per square meter depending on location. This developed after Sangguniang Panlalawigan (SP) Resolution No. 208-2012 authored by Provincial [...]
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 [...]
Philippine Inflation Rate as of September 2012
By Joann Villanueva The Bangko Sentral ng Pilipinas projects inflation to hover between 3.4 and 4.3 percent for September 2012 with the higher end up from month-ago’s level due to oil price volatility. BSP Governor Amando Tetangco Jr., in a text message to reporters Thursday, said the forecast for the rate of price increases in [...]
Emirates Flies to Nairobi from Washington, USA
Middle East-based airline, Emirates has launched its daily service from Nairobi to Washington Dulles International Airport (IAD), through its Dubai hub. Emirates Regional Vice President for East Africa Khalid Bel Jaflah said the latest service is the seventh gateway for Emirates in the United States , and the 12th new route to join the airline’s [...]
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 [...]