ECONOMIC GROWTH could slow down to below 6% this year as public expenditure is expected to weigh on the country’s overall output, a Singapore bank said in a new report.
Sep 142015
Jul 142015
THE PHILIPPINES may find it difficult to sustain its streak of positive export growth this year due to sluggish global demand and base effects from 2014, an analyst at DBS Bank Ltd. yesterday said.
Sep 142013
MANILA, Philippines – Tourism is still the next big thing in the real estate sector, according to Jones Lang LaSalle (JLL), a leading real estate services firm. JLL country head David Leechiu, in his speech during the recent general membership meeting of the Chamber of Thrift Banks, said for the next four years, there are over 12,431 rooms that are expected to be built. He noted that around half of the upcoming hotels will rise in the Entertainment City. “There are expected about 8,550 supply of hotel rooms in Entertainment City (launched and planned),” he said. The hotels that would be constructed in Entertainment City include: Belle Grande Manila Bay of Belle Corp. (2013); Manila Bay Resorts (2014); Radisson Hotel Manila of SM Investments Corp. (2014); Resorts World Bayshore of Genting Berhad Group/Alliance Global Inc. (2016); Luxury Hotel of Bloomberry Resorts and Hotels Inc.; and Mercure Hotel Manila of CDC Holdings Inc. Other hotels in the pipeline which will be located all over the metropolis and expected to be constructed within 2013-2017 include: WorldHotel Residences of WorldHotels (Makati); Marco Polo Ortigas of Edsa Grand Realty and Development Corp. (Ortigas); Ascott of CDC Holdings Inc. (Bonifacio Global City); Novotel Manila Araneta Center of Araneta Group (Araneta, Quezon City); Citadines of CDC (Makati); Citadines Millennium of CDC (Ortigas); Shangri-La at the Fort of Shang Properties (BGC); Grand Hyatt Manila of Federal Land Inc. (BGC);Conrad Hotel Manila of SMIC (Seaside Boulevard, Pasay City; Movenpick Hotel Manila of Picar Development Inc. (Makati); Savoy Hotel Read More …
Sep 142013
MANILA, Philippines – The Bangko Sentral ng Pilipinas is expected to keep rates steady until the second quarter of next year, Singapore-based DBS said. This, as inflation remains manageable and amid the country’s favorable external balances, the bank said in its quarterly report published Friday. “From a price stability standpoint, there is again no urgency for the central bank to hike rates. Despite multiple quarters of strong GDP (gross domestic product) growth, inflation has been trending lower,” DBS said. “Stable food prices and depressed commodity prices have gone a long way towards keeping a lid on headline inflation. Barring an upward shock to these two components, a mild updrift in CPI (consumer price index) is expected as the global recovery gains traction, eventually translating into higher commodity prices,” DBS continued. Inflation has averaged 2.8 percent in the eight months to August, below the central bank target range of 3 to 5 percent for the year. The level is also below the BSP’s forecast of 3 percent. At the same time, DBS noted credit expansion may grow in the next few months as funds being flushed out of the central bank’s special deposit accounts find their way into the financial system. This may stoke inflation in the coming months, but DBS pointed out the rise in consumer prices is expected to remain manageable. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We maintain that inflation will average 3.1 percent in 2013 before rising to 4.1 percent in 2014. Monetary tightening Read More …