Maniolas

This 2009 photo shows the North Luzon Expressway being rehabilitated. To fully maximize gains from growth, however, investments should pump development in the countryside where unemployment persists, says economics professor Emmanuel Lopez. ADB/Released, file A rather bullish economic mood has been seen in recent years due to an enhanced local market. Is the Philippines headed toward stability, much like some emerging economies now enjoy? Pre- development experiences are in place, initiated by accolades from reputable international credit rating agencies. Interested foreign and local investors are flocking to glimpse at opportunities within these shores. The latter years witnessed an unprecedented growth rate; from a low of 5 percent to a high of 6.5 percent of our gross domestic product aided largely by consumers’ spending pattern. Inflation rate, moreover, remains low and ideal the past few years, the highest being at 2 percent. Such inflation rate by any standard seems negligible and should not be a cause for worry, especially at a time when the country’s macroeconomic fundamentals remain strong and steady. Unemployment, despite being a lingering concern has been gradually abridged, thanks to largely to the business process outsourcing industry. There is much more that is needed to concretize our investment target, but it is just a matter of time before we the fruits of development is felt. After all, confidence building measures we have long been placed for years. To fully maximize gains from growth, however, investments should pump development in the countryside where unemployment persists. The countryside development program Read More …

Recent portfolio investments in the Philippines have not been meeting expectations. Philstar.com/File photo An analysis of patterns of foreign direct investments in the Philippines The Philippine economy today continues to benefit from admirable macroeconomic fundamentals. If maintained, they can be key in attracting foreign investors who are important in filling the gap that local investments are not yet able to fulfill. Not only do they fund projects in the Philippines, they also expand Filipinos’ technological choices and access to foreign buyers. Despite the change in administration, the country’s economic managers are quick to reassure Filipinos that they intend to provide continuity in the country’s good policies. On Wednesday, at a forum arranged by the Stratbase ADR Institute, Secretary Benjamin Diokno of the Department of Budget and Management and Bangko Sentral Deputy Governor Diwa Guinigundo both spoke positively of the Philippines’ economic prospects. Investors have short-term jitters More specifically, Guinigundo said that the Philippines had succeeded in building a reputation for its ability to improve institutions, promote good governance, and demonstrate resilience in the midst of external stress. Whether the cause was external stress or investors’ political jitters, however, recent portfolio investments in the country have not been meeting expectations. The benchmark Philippine Stock Exchange (PSE) has been declining since August until the third week of September. Guinigundo even said that the Philippine peso was now “the worst performing currency in the region.” The benchmark Philippine Stock Exchange has been declining since August until the third week of September As pointed out Read More …

THE Department of Energy (DoE) has asked oil companies operating in Mindanao to explain reports of “unusual price reductions” in gasoline products, saying the movements are in possible breach of provisions under the law.

Environment Secretary Gina Lopez and the country’s mining industry have reached a common ground and decided to work together to promote responsible mining. ABS-CBN Foundation, Inc. MANILA, Philippines – Environment Secretary Gina Lopez and the country’s mining industry have reached a common ground and decided to work together to promote responsible mining. Lopez yesterday met and engaged in a dialogue with top officials of mining companies. “The purpose of the dialogue is to join hands with them because I know I really rocked the boat. But, I’m not doing this because I don’t like them, what I don’t like is that our people would suffer,” Lopez told reporters. “I want to help them (mining industry) make things right and be on the positive side. I’ll be their friend and I will help them. What is non-negotiable to me is you cannot do anything there which would silt the rivers, silt the farmlands, silt the agricultural lands. I will be really strict,” she added. Shares of mining companies facing the prospect of suspension plunged Tuesday following the release of the Department of Environment and Natural Resources’ industry-wide audit. “At the end of the day, the Filipinos don’t know what stock market is. They want food on the table, they want to send their kids to college and make their place beautiful. My commitment is for the Filipino people not for the shares,” Lopez stressed. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meanwhile, Lopez countered claims that the audit was inconsistent Read More …

Latest data from the Bangko Sentral ng Pilipinas showed $1.27 billion worth of foreign funds were withdrawn from the markets from Sept. 1 to 16, while inflows only amounted to $567.14 million.  MANILA, Philippines – Close to $1.3 billion worth of foreign portfolio investments or ‘hot money’ were pulled out from the Philippines in the first three weeks of September amid the negative sentiment of investors. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed $1.27 billion worth of foreign funds were withdrawn from the markets from Sept. 1 to 16, while inflows only amounted to $567.14 million. The amount pulled out from the markets was 21 percent higher than the $1.05 billion withdrawn in the same period last year. This resulted in a net outflow of $701.12 million in the first three weeks of September. Foreign portfolio investments or hot money are referred to as speculative funds controlled by investors who actively seek short-term returns and high interest rate investment opportunities. Foreign funds continued to move out of the Philippine Stock Exchange (PSE) due to external shocks brought about by the timing of the interest rate hike in the US as well as developments in the country. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Duterte administration declared a “state of lawless violence” after 15 people were killed in an explosion in Davao City last Sept. 2. Likewise, President Duterte launched tirades against US President Barack Obama, UN Secretary General Ban Ki-moon, and the European Union Read More …