Buoyed by the robust 7.8-percent growth in the first quarter, President Benigno Aquino III on Monday expressed confidence that the economy would grow at the same rate or even faster in the second quarter.
Asia-Pacific insurance giant AIA is bullish on the Philippine economy, devoting a significant portion of its regional portfolio in bonds and equities while looking for investment opportunities in infrastructure.
Investors in the United States are upbeat about the Philippine economy and have expressed “strong interest” in doing business here, according to the country’s ambassador to the US following the investment roadshow that brought top Filipino businessmen to three US cities last week.
The country’s big banks can withstand shocks, such as a rise in loan defaults, should global economic problems spill over to the Philippines, as the level of their capital continues to exceed domestic regulatory requirements and international standards.
The local stock market may have breached the 7,000 mark Monday, but economist Astro del Castillo said Tuesday the effect of this may not be immediately felt by every Filipino.
Amid financial difficulties in Europe, Spanish companies are “betting” on the Philippines not only for profit but also for social returns, Spanish Ambassador to Manila Jorge Domecq told the Inquirer in an interview.
Interior Secretary Mar Roxas and Sen. Loren Legarda on Saturday attributed the decision of Fitch Ratings to award the country with its first-ever investment grade rating of BBB- from BB+ on the reform-oriented and transparent governance of President Benigno Aquino III.
“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.
The Philippine economy managed to beat most expectations by growing at an exceptional rate last year, but it is now poised to expand by an even faster pace in 2013, the Bangko Sentral ng Pilipinas said. The BSP’s forecast is anchored on assumptions that the increase in private sector investments will be sustained and [...]
Despite the glowing economic numbers, the Philippines should push harder to improve its investment climate as it continues to lag behind neighboring Asian countries, a Japanese minister said here on Thursday.
The local stock index fell sharply for a fifth straight session on Friday as investors continued to lock up recent gains as prices reached lofty valuations.
After a better-than-expected economic performance last year, the Philippine economy was likely to continue to grow at a faster pace than its trend growth in the last 10 years, economists said in various research reports.
