Investments

Fitch Ratings on Wednesday gave the Philippines a historic thumbs up, rating the economy “investment grade” for the first time ever. There is no spoiling this development. It is good news. Our leaders deserve credit as well as some basking in the limelight. By leaders though, it’s important to stress that this refers to both…

Early Easter gift for PH “It’s an early Easter for the market,” said a fund manager after Fitch Ratings raised the Philippine credit rating to investment grade on Wednesday, a move expected to boost investments and lift the country’s long-term growth potential.

MANILA – (UPDATE 4, 5:19 p.m.) Fitch Ratings has lifted the Philippines’ credit ratings to investment grade, the first time the country has bagged the seal of good fiscal housekeeping. In a statement, the international credit rating firm on Wednesday said it hiked the country’s long-term foreign-currency issuer default rating (IDR) to ‘BBB-‘ from ‘BB+’.…

MANILA – (UPDATE 3, 5:17 p.m.) The business community on Wednesday welcomed the Philippines’ upgrade from Fitch Ratings, but reminded the government that foreign direct investments (FDI) — the kind that creates jobs — won’t be forthcoming if constraints to doing business in the country remain.

The following statement was released by Fitch Ratings on Wednesday, as it upgraded the Philippines to investment grade:

FOR the first time, the Philippines has attained investment-grade status, courtesy of the UK-based Fitch Ratings, in the first of an expected series of upgrades seen to result in even more foreign inflows to help accelerate the economy down the line.

The Philippines secured its first investment grade credit rating on Wednesday, courtesy of debt watcher Fitch Ratings, along with a stable outlook that is expected to lead to more foreign investments, increased access to credit and reduced borrowing costs.

DAVAO CITY, Philippines—Despite the glowing statistics on the economy, the Philippines should push harder to improve the country’s investment climate as it continues to lag behind neighbors in Asia, a Japanese diplomat said here.

INCENTIVES can help, but these can also hinder, growth. And while some incentives help grow a small sector in a limited way, these same incentives may harm the growth of a larger sector over a longer term.

THE INTERNATIONAL Monetary Fund (IMF) has cited several reforms implemented by the Aquino administration, saying these could boost investments which are key to sustaining the growth momentum of the economy.

MANILA, Philippines – The country needs to attract more domestic and foreign investments if it wants to sustain its better-than-expected 6.6% growth last year, economists and analysts said on Tuesday.

MANILA, Philippines – Foreign direct investments (FDI) breached the $2-billion mark last year, the first time it did so in the past five years, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

Countries expecting increases in foreign fund inflows, particularly the Philipines, should allow some appreciation in their local currencies, the International Monetary Fund believes.

The Philippines surpassed Malaysia and Singapore in a 2012 Japanese survey of most profitable firms in the 10-member Association of Southeast Asian Nations (Asean), President Aquino disclosed on Tuesday.

FOREIGN DIRECT investments (FDI) surprised on the upside in 2012, breaching the full-year forecast, as strong economic growth and low inflation attracted capital to the Philippines.

THE AQUINO administration has posted improvements with regard to reforms sought by businessmen, the Joint Foreign Chambers (JFC) yesterday said.

President Aquino, assuring investors of competitive incentives, vowed on Wednesday to make it easier for them to put up new investments in the country. Addressing investors at the grand launch of Mactan Newtown, Megaworld’s latest Eastwood City township-type project in Cebu’s Lapu-Lapu City, Mr. Aquino noted that since he assumed the presidency in 2010, he…

The Bangko Sentral ng Pilipinas (BSP) yesterday reported that the country’s foreign direct investments (FDI) as of end-November totaled $1.23 billion, a very slight improvement compared to $1.22 billion the same period in 2011.

Net foreign portfolio investments grew 120 percent year-on-year to $1.2 billion as of Jan. 25, 2013, data from the Bangko Sentral ng Pilipinas (BSP) showed over the weekend. For nearly the same period last year (Jan. 1 to 27, 2012), net foreign portfolio investments in the country amounted to $541.59 million.

MANILA, Philippines – The Philippines deserves an investment-grade status this year as its economic landscape has “dramatically changed” under the Aquino administration which has begun to address the country’s weaknesses to achieve sustainable and “cohesive” growth, a world renowned economist said.

Bank sees PH potential, but urges reforms to hasten progress Despite its favorable demographics, the Philippines continues to miss out on a greater share of foreign direct investments (FDIs) due to a “restrictive” foreign ownership policy and “uncompetitive” business environment, British banking giant HSBC said.

INVESTORS continue to pour money into the Philippines in the form of portfolio investments no matter that such, also called “hot” or speculative money, slowed by 16 percent to only $3.16 billion on net basis as of mid-November.

THE PHILIPPINES has been ranked 87th among 141 nations in terms of being the best for business, a development officials said reflected rising investor confidence.

BUSINESS CONFIDENCE recovered strongly this quarter as firms expected improvements in their operations and the macroeconomy, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Business optimism slips in third quarterBusinesses more upbeatBusinesses more upbeat in Q4

MANILA – Foreign businessmen operating in the Philippines warned the government against implementing a Supreme Court decision that redefined limits to foreign ownership of companies, saying this ruling is a “step backward” as the country scrambles to catch up with Asean neighbors in attracting investments.

THE INFLOW of foreign direct investment (FDI) into the Philippines plummeted by 83% in August this year. The Bangko Sentral ng Pilipinas (BSP) is hoping a total FDI inflow of $1.2 billion for 2012. That’s low in comparison with the average FDI the Philippines has received in the last 11 years, approximately $1.5 billion, and…

THERE IS a huge disparity between the promise and the reality. President Aquino would usually announce the promise of more foreign direct investment (FDI) every time he arrived from abroad. Yet, foreign direct investments, the type that lead to more factories and modern farms, and consequently, more decent-paying jobs, have yet to come — two…

FOREIGN BUSINESS chambers want the government to make its Foreign Investment Negative List (FINL) “less negative,” claiming that little has been done over the last two decades to open up protected sectors.

NEW OWNERSHIP RULES proposed by the Securities and Exchange Commission (SEC) could further limit investments in the country, officials of foreign business chambers claimed.

Private-sector stakeholders led by the Philippine Stock Exchange (PSE) that trooped to the Securities and Exchange Commission (SEC) headquarters in an apparent show of force on Friday morning did not come out disappointed.