Economy

Prices of commodities including petroleum are beginning to spike upward again, which could derail global economic recovery and affect growth in the Philippines, according to economists.

The Philippines, one of the worst- performing economies in Asia over the past three decades, is finally expected to perform strongly over the next decade, with an annual growth of close to 6 percent, an Asian Development Bank said.

THE Philippines along with Pakistan are projected to exceed their historical average economic growth over the next two decades, faster than other Asian countries, according to Asian Development Bank (ADB). In its study titled, “Economic Growth in Asia: Determinants and Prospects,” the Manila-based lender found out that the gross domestic product (GDP) projections for the…

A BETTER Christmas this year; but with a fewer number of employed people.
That’s what economist Victor Abola predicted on Thursday, as he presented the Dun&Bradstreet Inc. business optimism index (BOI) showing a positive outlook for the fourth quarter by 260 companies.

SINGAPORE — Asia will end this year with strong growth, but a faltering recovery in the United States and Europe will hurt export-oriented Asian economies more than domestically focused ones in 2011, a Reuters quarterly poll shows.

COMPANY OWNERS and executives have become even more optimistic of business prospects, anticipating sales and profits to go up in the last quarter of the year against a backdrop of expanding economic output, export growth, low inflation, and bullish financial markets.

US-based investment bank Goldman Sachs revised its 2010 Philippine economic outlook saying the economy will grow 7.4 percent from 4.2 percent after the stronger-than-expected rebound in the first six months.

MANILA, Philippines – The local economy may grow by 7.1% this year, beating official government estimate, on the back of higher consumption, investment spending and a strong service sector, a bank said.

MANILA, Philippines—Goldman Sachs is keeping a bullish outlook on the Philippines, expecting remittances and the overall economy to grow faster than most expectations.

IF the National Income Accounts (NIA) only included unpaid household work, particularly those done by housewives, the country’s economic growth would have been higher by more than 90 percent.

Companies in growing markets like China and India are adding more jobs in North America and Europe, a shift from the usual hiring patterns, says a new study from IBM.

THE PHILIPPINES should pursue revenue reforms, increase spending on social services and infrastructure as well as improve the business environment to sustain growth, an International Monetary Fund (IMF) official said.

WASHINGTON – The Philippines fell in the world’s economic freedom ranking to 76th from 69th previously among 141 countries surveyed, the Economic Freedom of the World 2010 annual report said.

The Philippines is likely to become this year’s second fastest-growing economy — next to Thailand — among the Association of Southeast Asian Nations-5, multilateral lender International Monetary Fund (IMF) said Wednesday.

MANILA, Philippines — The International Monetary Fund has again raised its growth forecast for the Philippines for 2010 and 2011, citing improving domestic demand and business sentiment in the country and the rest of Asia.

Conclusion In the Asian Development Bank’s latest rating of regional bonds, the Philippines emerged among the best rated in East Asia, helped by growing confidence in the economy since the May elections boosted political stability after years of chronic unrest. That affirms our Friday column, which expounded on the political and policy underpinnings of the…

First of two parts Respected economist Bernardo Villegas got the nickname “Prophet of Boom” for his bullish predictions on the Philippine economy from as far back as the 1970s. For many business people and other seasoned observers of the country may have found many unfulfilled projections and promise, especially after the optimism after the 1986…

GENEVA (ILO News) – A new report by the research arm of the International Labour Organization (ILO) says a long “labour market recession” is worsening the social outlook in many countries.

MANILA, Philippines – The Asian Development Bank (ADB) has upgraded anew its growth forecast for the Philippine economy this year to 6.2 percent on the back of increased consumption, stronger investment inflows and a rebound in trade.

THE PHILIPPINES, along with other countries in the East Asian region, needs to reinvent itself and move up the value chain to achieve rapid growth, the World Bank states in a new book.

BERKELEY — A double-dip recession is one thing, but a lost decade is something far more sinister. In the United States, there is growing concern that the worst recession since the Great Depression has damaged the economy’s capacity to grow.

The fiscal path of underspending taken by the Aquino administration and the possibility that it would further raise the 12 value added tax to improve its tax effort could derail the economic rebound being experienced by the Philippines, according to a study released Wednesday by the Metrobank Group.

MANILA, Philippines – After almost two years of extreme belt-tightening and drop in profit, most of the world’s executives now have a brighter outlook on the global economy, according to research by advisory firm McKinsey & Co.

MANILA, Philippines – The Aquino administration’s ambitious growth targets for next year are in peril due to the government’s low budget for capital outlay and expansion as well as risks of a “double-dip” recession in the US, a congressional think-tank warned yesterday.

MANILA, Philippines – President Aquino has reiterated his commitment to level the playing field in business to attract more investors to the country.

MANILA, Philippines – Consumer confidence hit a new record high under the Aquino administration on the back of favorable macroeconomic fundamentals as well as brighter economic prospects, results of a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.

OSLO—The heads of the International Monetary Fund (IMF) and the International Labour Organization (ILO), along with other leaders, today called for a broad international commitment to a jobs-focused policy response to the global economic downturn. At a historic conference in Oslo—hosted by Prime Minister Jens Stoltenberg of Norway and co-sponsored by the IMF and ILO—leaders…

MANILA, Philippines – President Aquino has referred the wish list of local businessmen to the Cabinet and other agencies for possible action, the Philippine Chamber of Commerce and Industry (PCCI) said.

THE Aquino administration has to raise P180 billion in investments a year to attain a higher economic growth path for the next six years and beyond, the National Economic and Development Authority (NEDA) said.

MANILA, Philippines—The composite leading economic indicators (LEI)—a broad barometer used to gauge the economy’s health—continued to improve in the third quarter but at a slower pace, the National Statistical Coordination Board said.