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 [...]
Philippine Retailers Association Update
The president of the Philippine Retailers Association (PRA) expressed his optimism that the country’s retail industry will continue to grow and could post a double digit growth during the year as it registered P1.4 trillion revenues in 2012. In a press conference held at the sidelights of the 16th Outstanding Filipino Retailers and Shopping Centers [...]
Philippine Ranking in Economic Index
Malacanang on Monday lauded the Philippines’ improvement in the Heritage Foundation’s 2013 Index of Economic Freedom as the country jumped 10 notches in ranking. “The Philippines jumped 10 notches in ranking, making our economy the 97th freest in the world with an Economic Freedom Score of 58.2 in contrast to last year’s ranking of 107th [...]
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 Inflation Rate Stays at 3.2 Percent
The Philippines average inflation rate in 2012 decelerated to 3.2 percent from 4.6 percent the previous year. The Philippines inflation rate averaged 9.1 percent reaching an all time high of 62.8 percent in September of 1984 and a record low of -2.1 percent in January of 1959. Bangko Sentral ng Pilipinas (BSP) Governor Amando M. [...]
Moody’s Debt Rate for the Philippines
Moody’s Investors Service Tuesday changed to ‘Positive’ from ‘Stable’ its outlook on the Philippines’ banking system. In a report dated Dec 18, 2012, the debt watcher attributed the improvement of the outlook to the resiliency of the domestic economy, banks’ diversified loan portfolio and income sources and continued improvement of the sector’s asset quality, capitalization [...]
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 [...]
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 [...]