Economy

SINGAPORE – Southeast Asia is becoming one bright spot in a world of gloomy corporate earnings, with strong profit growth powered by a population of 600 million people increasingly willing, and able, to spend in their fast growing economies.

It is remarkable that the Philippine economy has been showing dynamism this year so far, even with a sluggish world economy. This implies that the energy driving our economic growth lately is coming from within. Indeed it is internal demand—that is, we Filipinos ourselves purchasing our goods and services—that has provided the current impetus for…

President Aquino said on Monday that economic growth in the second quarter of this year was higher than originally announced, or more than 5.9 percent, prompting an upward revision in terms of growth for that period.

TOKYO, Japan – The Philippines, a laggard economy compared with its Southeast Asian neighbors, can grow faster in the medium term at more than five percent annually, International Monetary Fund (IMF) officials said. In a briefing here, they said higher state revenues and increasing the spending on infrastructure will pave the way for more domestic…

Tokyo, Japan – Third quarter economic growth in the Philippines likely tracked the trend in the first half due to the services sector and robust consumption, the country’s chief economist said. “We are hopeful that it is on the same track,” National Economic and Development Authority (NEDA) Director General Arsenio Balisacan told The STAR on…

The Philippine economy may have a full-year growth of 5.7 percent to 6 percent if domestic demand, remittances and exports will further increase in the remaining months of the year, according to the latest issue of The Market Call.

MANILA – The Genting Group of Hong Kong will hike its investments in the Philippines, which the company said has reached its “inflection point” amid government reforms, favorable macroeconomic fundamentals and a skilled labor force.

MERCHANDISE exports took a dive in August — the weakest performance in eight months — weighed down by a strong peso and a sustained drop in outbound electronics shipments. Raw sugar exports mulledExports down by 9% in August’Sin’ tax bill criticizedCorn exports seen by yearendOutbound shipments pick up.

STANDARD & Poor’s (S&P) has hiked its Philippine growth forecasts for 2012 and 2013, but external threats may dent the country’s chances of getting an investment grade credit rating. The economy could grow by 4.9% this year and 5% next year, S&P yesterday said in a report, up from the 4.3% and 4.5%, respectively, that…

MANILA – Fitch Ratings on Tuesday said clinching peace in Mindanao may boost investments in the area, but warned that any lasting contribution to the Philippine economy would depend on addressing the “weak overall investment climate and low fiscal revenue base.”

LOCAL output for the Philippines, measured as the gross domestic product this year and next, was seen flattening at 4.8 percent, according to the International Monetary Fund (IMF). In an originally embargoed statement, the IMF said growth for the $225-billion economy would prove flattish for 2012 and 2013 as the global economy succumbs to weaker-than-expected…

THE INTERNATIONAL Monetary Fund (IMF) has maintained its 2012 growth forecast for the Philippines amid a deteriorating global economic environment, choosing not to follow upgrades announced by two other multilateral lenders.

The National Economic and Development Authority (Neda) is upbeat on the country’s economic prospects in the years ahead, expecting the Philippines to scale even greater heights.

MANILA, Philippines – Step aside economic powerhouses of the past, and get ready to share the spotlight. In a special report, business news site Market Watch christened the Philippines and Indonesia as “the new tigers” or economies that have been overlooked in the past and are now “poised to drive future growth and grab more…

MANILA, Philippines – The Philippine government can increase the value of foreign direct investment (FDIs) in the country by creating a more competitive environment and by addressing barriers to investment such as corruption, an International Monetary Fund (IMF) official said.

ANOTHER multilateral institution has raised its Philippine growth forecast amid global uncertainties that have prompted reduced estimates for the region. Rural projects identifiedWorld Bank raises Philippine growth outlook for 2012Job creation should focus on dev’t payoffsIMF, WB seen tackling pressing issuesOxford Business Group — Charles Colon: “Mobile market growth in the Philippines”

The Asian Development Bank made an upward revision in its 2012 economic growth forecast for the Philippines, to 5.5 percent from its earlier projection of 4.8 percent due to the economy’s strong first half performance.

TAX BREAKS granted to the remittance industry are worth the loss in government revenues since they encourage savings and investments among migrant workers, the National Tax Research Center (NTRC) said.

MULTINATIONAL financial services firm Citi sees the Philippines’ gross domestic product (GDP) growing by 5 percent to 5.3 percent, which is as at the low end of the government’s target, this year.

MANILA, Philippines – Even if the government achieves its programmed deficit spending, it will not exceed its growth assumption this year, the Asian Development Bank (ADB) said. The ADB now projects the Philippine economy to grow 5.5% in 2012, higher than its initial estimate of 4.8%. This is lower than the government’s official growth target…

The world economic crisis is expected to slow down the flow of aid in the next few years, with the Philippines expected to be among the most affected, a recent United Nations report showed.

Crisis obstructing huge part of Europe is affecting the country but its effects are cushioned by the very strong domestic economy brought about by many factors, the Bangko Sentral ng Pilipinas (BSP) said.

MANILA – (UPDATE 2, 10:21 a.m.) Standard and Poor’s has raised its growth forecast for the Philippines, even as estimates for other Asian economies were kept or worse cut, amid a weak global economy.

MANILA, Philippines – Manila has the “worst” brand value among 16 Asia-Pacific cities, according to the Location Branding 2012 report published by Public Affairs Asia and Ogilvy Public Relations. In the City Brand Rankings, Manila had the lowest score with 5.6, along with Jakarta (5.9).

ECONOMIC managers and business leaders see a strong finish to 2012 across all sectors despite the persistent global slump, with their attention now turning to the creation of a sustainable growth path for following years.

MANILA, Philippines – The Philippine economy could grow by almost six percent this year, thanks to improving business optimism despite a series of destructive storms in recent months, a top official of the National Economic and Development Authority (NEDA) said yesterday.

Confidence in the Philippine economy, whether from within or from outside, appears to be catching on. Various analysts are consistently coming out with positive predictions on how our economy will shine among others in the years ahead. We haven’t seen this level of confidence in our economic outlook since the 1990s, when President Fidel V.…

MANILA, Philippines – The top executive of one of the biggest universal banks in the Philippines compared the performance of the country to that of a “triathlete,” then shared a thought: “Is the [performance] sustainable?”

MANILA – (UPDATED 11;54 a.m.) The Philippine economy is likely to grow at the upper end of the government target this year, the National Economic and Development Authority said on Monday.

MANILA – The Philippines is getting “closer” to achieving shared growth for all Filipinos as governance reforms are paying off, the country’s economic managers said on Monday. During the Philippine Economic Briefing, Socioeconomic Planning Secretary Arsenio Baliscan said the improved economic performance in the first semester is an indication that the Aquino administration’s commitment to…