S&P slashes Philippine growth projection further
S&P Global Ratings has again slashed its projection for Philippine economic growth this year, according to a report the debt watcher released on Wednesday, in the face of subdued state spending amid a four-month delay in enactment of the P3.662-trillion national budget and bigger-than-expected impact of the Sino-US trade dispute on electronics, which accounts for half of Philippine merchandise exports.
Manila now more costly for expats — Mercer
THE PHILIPPINES’ capital city, Manila, jumped 29 places in Mercer’s 2019 Cost of Living Survey, marking the fourth sharpest climb in the world.
Firms more bullish, families bearish in Q2
BUSINESSES were on the whole more confident of prospects this quarter compared to the preceding three months as they expected improved demand -- marking the second straight quarter of improvement -- but households turned slightly more pessimistic in the same comparative periods in the face of rising prices, according to results of the central bank’s latest surveys on these two segments that were released to media on Tuesday.
NG posts third budget surplus, though smallest year to date
THE NATIONAL GOVERNMENT (NG) posted its third budget surplus for this year in May, as revenues outpaced spending, but it was the smallest surfeit so far, according to official data the Bureau of the Treasury released on Tuesday.
Filipino millennials’ optimism eroded
FILIPINO MILLENNIAL’s confidence in the country’s economic and socio-political situation has declined, according to survey results reported on Tuesday by NavarroAmper & Co., the Philippine management consultancy that forms part of the global Deloitte network.
Price impact on the poor worsens
INFLATION for low-income families accelerated in May after six straight months of slowing down, the Philippine Statistics Authority (PSA) reported on Monday.
SE Asia sub-regional group pushes for bigger local gov’t role in dev’t
DAVAO CITY -- Leaders of the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) want more active local government participation in identifying opportunities for investments and closer linkages within the sub-region.
Diokno to co-chair global financial stability body’s Asia consultative group
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno will co-chair the Financial Stability Board’s Regional Consultative Group for Asia (FSB-RCGA), together with Reserve Bank of India Deputy Governor N.S. Vishwanathan, for two years term starting July 1, the BSP said in a statement on Monday.
Security risks top of mind in ASEAN
HEADS of state of the Association of Southeast Asian Nations (ASEAN) meeting in Bangkok, Thailand on Sunday led off the ASEAN Leaders’ Vision Statement on Partnership for Sustainability with pledges to “strengthen defense cooperation to tackle traditional and non-traditional security challenges”; “enhance strategic dialogue and promote practical cooperation on regional defense and security issues”; “reaffirm the importance of maintaining and promoting peace, security, safety and freedom of navigation in and overflight above the South China Sea”; promote guidelines to avert “unplanned encounters at sea”; to “combat terrorism in all its forms” and to “enhance cybersecurity cooperation” besides a host of more general resolutions in the economic, social and cultural spheres.
China no match for Japan in infra race
SINGAPORE -- Japan is still winning the Southeast Asia infrastructure race against China, with pending projects worth almost one and a half times its rival, according to the latest data from Fitch Solutions.
New trade patterns unfold as ‘rule-maker’ China rises
HONG KONG’S Maritime Museum gives a glimpse of China’s trading prowess in the centuries when seafaring was the order of the day, and how its rules back then controlled foreign merchants.
DoubleDragon readies assets for REIT offer
DOUBLEDRAGON Properties Corp. is anchoring its next stage of growth on the hospitality and industrial sectors, after it completes its target of having 1.2 million square meters (sq.m.) in gross floor area involving mall, office, hotel and industrial space by next year.