British banking giant HSBC has switched its call on Philippine equities to “underweight” from “overweight,” citing lofty valuations relative to the growing attractiveness of some other emerging markets in the region.
By Doris C. Dumlao
The spike in last month’s inflation may force Bangko Sentral ng Pilipinas (BSP) to tighten its monetary policy further.
The Philippine economy’s performance in the first quarter, which fell short of all expectations, was still impressive and would likely prove to be a one-time slump in the country’s climb.
The Philippines needs to address infrastructure bottlenecks to prevent annual growth from sliding back to the 5-6 percent growth range, an economist at British banking giant HSBC said.
By Amy R. Remo
The British Embassy in Manila has earmarked an initial 40,000 British pounds (or about P3 million) to set up in the country its first business center that will support UK-based firms wanting to tap opportunities in the Philippines.