Maniolas

MANILA, Philippines – Factory output likely expanded by 7.5 percent in December due to a strong demand from the domestic market and a rise in export performance, Moody’s Analytics said. “Industrial production in the Philippines grew strongly through the second half of 2014 and we expect this to continue in the December report,” Moody’s Analytics said in a research note. “Robust domestic demand improving export demand are driving a solid upturn in manufacturing,” the research firm said. Manufacturing output, as measured by the volume of production index, grew faster by 8.1 percent in November from 7.7 percent in October. Official December factory output data will be released on Tuesday. “Fourth quarter GDP figures have already been released, showing a 7.3-percent year-on-year expansion in manufacturing,” Moody’s Analytics said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We expect a similar return in the final industrial production print for the year,” Moody’s continued. The November performance was driven by the increases in the production of printing products, fabricated metal products, beverages, paper and paper products, non-metallic mineral products, and basic metals, data from the Philippine Statistics Authority showed. Meanwhile, the value of production index also went up by 7.5 percent in November from a year ago. The PSA said this was due to higher returns from printing products, fabricated metal products, beverages, paper and paper products, non-metallic mineral products, and leather products. The country’s manufacturing sector recorded double-digit growth in the second half of 2013, helping the domestic economy achieve a Read More …

MANILA, Philippines – More Japanese firms are showing strong interest in Philippine stocks, the operator of the country’s sole stock market reported. The Philippine Stock Exchange (PSE) said it saw more participation from Japanese firms during this year’s roadshow in Tokyo compared with that of 2014. “We understand that when we sent out the invitation to participants in December last year, the event became fully booked within three hours. We are delighted by the strong interest by Japanese investors in our market and we thank our partners for helping us promote more businesses and investments between Japan and the Philippines,” said PSE president and chief executive officer Hans B. Sicat. The Tokyo roadshow in the Land of the Rising Sun held last January 21 to 23 featured a Philippine Corporate Day which was co-organized with DBP-Daiwa Capital Markets Philippines Inc. and a Philippine Business Environment Seminar. This was in partnership with KPMG Japan, Mori Hamada and Matsumoto Law, and Takara Printing Co. Ltd. The roadshow was aimed at courting Japanese firms to list in the local bourse by serving as a venue to discuss the listing structure and rules of the PSE. The PSE said the roadshow this year registered a 37 percent increase in investor turnout and a 58 percent growth in the number of fund houses present compared to last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Furthermore, the PSE reported a 32 percent increase in meetings between the listed companies and major Japanese investors. Read More …

MANILA, Philippines – The government and the private sector have decided to fasttrack projects in Clark, Pampanga with the area serving as one of the venues for the Asia Pacific Economic Cooperation (APEC) events this year. In a statement, Clark Development Corp. (CDC) president and chief executive officer Arthur Tugade said the country’s APEC hosting has encouraged both government and the private sector to advance the implementation of their respective projects. The Philippines is hosting the APEC meetings this year. The APEC senior officers meeting started in Clark on January 26. Tugade said projects such as the Clark Rotunda, Clark Museum, Clark 4D Theatre and Clark Integrated Command Center are to be implemented this year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The renovation of the Clark Parade Ground, which is in its final stages, is expected to have a rubberized overlay for the jogging path, renovated park bencher, as well as shower room for sports participants upon completion. Tugade said some locator firms in Clark have also advanced the dates of their development plans. Among these locators is Fontana Leisure Parks which is expanding the seating capacity of its convention center to more than 1,800 seats from 500, at present, putting up new villas and rooms and adding 1,000 workers. Oxford Hotel meanwhile, has committed to invest P1 billion in the next five years to put up a new hotel, casino and restaurant with one-stop commercial complex as well as employ 615 individuals. Widus Hotel and Casino Read More …

MANILA, Philippines – The Turkish Flour Yeast & Ingredients Promotions Group (TYFI), a group representing Turkish flour exporters, is calling on the government to conduct an investigation on claims that Turkish flour is being smuggled into the country. In a statement, TYFI chairman Turgay Unlu said the claim made by the Philippine Association of Flour Millers, Inc. (PAFMIL) that Turkishflour is being brough into the country and declared as Indian flour to avoid payment of dumping duties is a serious matter that needs to be looked into. Late last month, the PAFMIL said some 1,800 bags of Turkish flour declared as Indian flour were intercepted by the Bureau of Customs in General Santos City. Imports from Turkish flour milling companies are subject to a dumping duty of 2.87 to 16.19 percent under a Tariff Commission (TC) decisionissued last year. The TC decision was issued following a conduct of formal investigation on a petition filed by the PAFMIL which claimed that local flour couldnot compete with Turkish flour being sold at dumping prices. Flour from India meanwhile, has no dumping duty and has a tariff rate of seven percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Unlu said the TYFI supports a conduct of investigation on the matter. He said that the TYFI opposes fraudulent activities that cast doubt on the conduct of business here. “TYFI takes pride in its corporate culture focused on a set of uncompromising values, specifically integrity and professionalism. The organization, with its entire membership, Read More …

THE PHILIPPINE Statistics Authority (PSA) said it will rebase this year two key economic indicators, in a move that could provide the public a more accurate picture of the economy.