Business confidence in the Philippines hit an all-time high in the second quarter, as the assignment of an investment grade to the Philippines prompted expectations that economic growth would remain robust and would continue to boost corporate earnings.
A survey shows China’s manufacturing contracted this month, adding to signs a fragile recovery in the world’s No. 2 economy is slowing.
Myanmar’s economy expanded 6.5 percent last year and is set for further modest acceleration, the IMF estimated Wednesday, as sweeping reforms herald hopes of a renaissance for the impoverished nation.
As debt-laden Dubai’s economic recovery continues, with grandiose projects making a comeback, the emirate faces some near-term maturity of debt racked up during pre-crisis years but the prospects are not gloomy, analysts say.
The peso was almost unchanged on Wednesday as the market digested reports the Japanese central bank is poised to continue with its heavy bond buying to stimulate the world’s third-biggest economy out deflation.
The peso moved sideways on Tuesday as the market weighed the impact of a central bank’s move to restrict access to its special deposit account (SDA) facility and favorable outlook on the domestic economy.
Barclays has raised its 2013 growth forecast for the Philippines as it expects the economy to post one of the fastest growth rates among emerging markets in Asia.
The group of taipan George Ty expects its automotive business under Toyota Motor Philippines (TMP) to get a big boost from the rise of the domestic economy as per capita gross domestic product (GDP) is seen to hit $3,000 in the next few years.
Despite political tensions, economic relations between China and the Philippines are closer than ever before. The challenge is to move toward a win-win future.
The peso fell on Thursday following the release of reports that the euro zone contracted in the first quarter and that industrial production in the United States fell in April.
Malaysia’s economy grew a solid but slower than expected 4.1 percent in the first quarter as weak manufacturing and mining dragged on overall performance, according to data announced Wednesday.
The rate of rise in remittances registered its slowest pace in three and a half years amid the challenges now facing the global economy.
