BMW AG is exploring buying more auto parts from the Philippines and is preparing to help the local electric-vehicle (e-vehicle) industry set up the needed infrastructure for e-vehicles, including charging stations, Trade Secretary Ramon M. Lopez said.
Netherlands-based global financial giant ING has projected a positive growth rate for the Philippines under the 6-year term of the Duterte administration. Philippine Stock Exchange [via Business World Online] ING Philippines economist Joey Cuyegkeng in a client briefing said he foresees a 6.5 percent gross domestic product (GDP) growth rate until the year 2022 even if the country is placed on “autopilot.” The senior economist said in a forum that “A 6- to 6.5-percent growth rate is feasible even without any new reforms,” according to an Inquirer report by Doris Dumlao-Abadilla. Cuyegkeng is also reported by Manila Standard as saying the positive GDP rate is driven by investments, higher fiscal spending, and robust domestic demand. The Philippine economy is in a “sweet spot of relatively fast growth and low to moderate inflation” with growth drivers now expanding to include agriculture and industry services. The ING experts also project growth by 8.1 percent for the industrial sector, and 3 percent for the farm sector. The service sector is seen to keep its growth rate at the 6.6 percent. The post Dutch banking giant ING bullish on the PHL economy appeared first on Good News Pilipinas. Related posts: Makati Business Club remains bullish on PH economy PHL posts strongest economic growth in Asia at 7.1% PHL is Asia’s fastest growing economy in 1st Qtr 2016 Japan’s Nomura upgrades PHL economic growth
Philippine Airlines has moved up by 16 spots in the ranking of the Top 100 Airlines in 2017 of the Skytrax World Airline Awards. The flag carrier of the Philippines is now at 67th, up from its 83rd ranking in 2016, as voted by airline customers around the world. Skytrax released the results for the Top 100 Airlines from among more than 325 airlines surveyed. The survey covered over 325 airlines, from the largest international airlines to smaller domestic carriers, measuring Quality standards for 41 KPI’s across front-line product and service factors in the Airport and Onboard environments. Travelers across the globe took part in the world’s largest airline passenger satisfaction survey to decide the winners. 19.87 million eligible survey entries were counted in the final results, and 105 nationalities participated in the survey from August 2016 to May 2017. The World Airline Awards, described as "the Oscars of the aviation industry", are most coveted Quality accolades for the world airline industry, and a global benchmark of airline excellence. Any airline in the world can be nominated. There is no outside sponsorship for the survey, with the voting process and results analysis subjected to detailed, independent assessment. The post Philippine Airlines gains 16 spots in World Airline rankings appeared first on Good News Pilipinas. Related posts: PH rises in innovative economy world ranking PH rises 5 notches in WEF competitiveness rankings PHL internet speed makes huge gains, Akamai says PH one of the world’s best to raise a family for Read More …
THE GOVERNMENT is looking to issue bonds to overseas Filipino workers (OFWs) in Saudi Arabia and the United States with a $500 million initial target, the National Treasurer said last week.
THE PHILIPPINES is expected to be the region’s fastest-growing car production hub in the next five years, BMI Research said, driven by robust consumer demand and the government’s support through policies aimed to grow the domestic automotive industry.
Nas Daily, a daily video site by Nuseir Yassin who has become a Facebook celebrity after generating over 150 million views, has produced a $100 tourism video on the Philippines. Nuseir Yassin [via Facebook] Nas Daily’s Day 434 video “This doesn’t cost millions” shows the many tourism offerings of the Philippines and the Filipinos, was posted on Facebook on June 17 and has already raked in 412 thousand views after 2 days. Yassin’s video actually lasts 1 minute like his other viral videos – with the feature on the Philippines running 30 seconds. Yassir, an Israeli Arab who has declared the Philippines as his favorite country after visiting it in 2017 and posting videos about his stay, produced the tourism video on his own in New York. In the video post Yassir, an Economics and Computer Science graduate from Harvard University, said he wanted to show how a mere $100 dollars budget can produce an effective promotional video for so much less than what governments spend usually on agency-produced videos. Yassir captioned his Day 434 video with: “I am always amazed by how much money is wasted in the media business. Governments spend millions of dollars to make simple videos while agencies take a huge cut of that. Why? When it's not your own money, it's so easy to spend it the wrong way. And in countries where every dollar is needed, that becomes wasteful. So I tried to take a swing at making a tourism video for the Philippines Read More …
THE Department of Foreign Affairs (DFA) warned that the Department of Finance’s (DoF’s) plan to tax sugar-sweetened beverages (SSBs) is allegedly discriminatory to foreign products and may leave the country vulnerable to a World Trade Organization complaint.
THE PHILIPPINES placed 46th out of 63 economies in a global ranking on digital competitiveness conducted by the International Institute of Management Development (IMD).
British appliance maker Dyson Electronics is expanding its operations in the Philippines with a $20 million investment this year, eyeing positive growth prospects for the company just over a year since its establishment in the country. Dyson will also increase the number of employees to 400 by end of 2017, and to 500 by 2018. The Calamba, Laguna manufacturing facility of Dyson already had the company investing $50 million when it started operations in 2016, capable of producing 6 million motor units a year. Dyson, whose founder James Dyson is the inventor of the cyclonic bag-less vacuum technology, also locally assembles appliances for export such as vacuum cleaners, hair dryers. Dyson CEO Jim Rowan told media, “The Philippines is really interesting right now, they really appreciate technology and good design, so we’re very bullish that the Philippine market will be a big consumer market for us. So we see good sales generation from the Philippines.” Dyson Philippines produces 20 percent of the company’s total global output. “One of the reasons we chose the Philippines was because we think first and foremost, we can get talent. We felt we can get good engineering talent within the Philippines and the English language proficiency in the Philippines was also a factor that we took into consideration because that meant that we can train up those engineers very quickly. And then access to the supply base. There’s quite a strong supplier base in the Philippines so we could immediately come in and tap into Read More …
THE UNITED STATES is considering a new aid package for the Philippines, withheld over human rights concerns late last year, but a clear offer has yet to be made, the Department of Finance (DoF) said.