THE ECONOMY may sustain the economic growth momentum of 2016, with forecasts by multilateral lenders expected to be achieved amid a global wave of rising trade, the government’s chief economic planner said.
Jun 112017
Jun 012017
FINANCE Secretary Carlos G. Dominguez III said perks given to Real Estate Investment Trusts (REIT) may not be generating an adequate return for the government, and added that the incentives given to the sector are under review.
May 232017
RUSSIA is set to sign an agreement on Thursday with the Philippines to firm up its earlier commitment to buy $2.5 billion worth of agricultural products over the next 12 months.
May 192017
The Alfamart chain of convenience stores is set to nearly double its presence in the Philippines with an additional 200 stores. Indonesian operator Sumber Alfaria Trijaya (SAT) currently operates 210 stores in the Philippines in a joint venture with SM Investments. SAT President Hans Prawira announced the expansion plans of the store chain saying it sees the Philippines as an untapped market for smaller than traditional convenience stores. "The characteristics of the [Philippines] market are similar [to Indonesia]. The difference is that there are not many minimarkets in the Philippines. So it's like a blue ocean," Prawira said in an Nikkei Asian Review report. Sixty of the planned new Alfamart outlets were already added in the first quarter of the year according to SAT. The company aims to operate 400 outlets in two years to make the chain profitable. SAT’s stakes in the Alfamart Philippines venture with SM which started in 2014, is at 35%. The post Indonesian retailer Alfamart to expand PHL chain appeared first on Good News Pilipinas. Related posts: PHL among world’s best in Coastal Cleanup initiative Google, Int’l SOS to expand Philippine workforce US think tank: PHL most resilient emerging economy Coca-Cola to pour in 1.2 billion dollars in PHL expansion
May 182017
THE PHILIPPINES’ credit position could improve should the Finance department’s comprehensive tax reform program make progress through the last two plenary sessions of the House of Representatives, or by end of May, the Budget Secretary said.
May 172017
THE PHILIPPINES is expected to emerge as one of the fastest-growing construction markets over the next five years, analysts at BMI Research said, amid fresh funding from Asian neighbors that will propel the government’s aggressive infrastructure push.
May 162017
MACAU — The Philippines has a long way to go before matching Macau as a gaming and entertainment hub, but analysts said the country is making the right moves in building significant momentum for the industry’s growth.
May 122017
AIRASIA Group CEO Tony Fernandes said his group will help develop the Philippines’ airports in the coure of expanding operations in the country as a “show of trust” in President Rodrigo R. Duterte’s administration.
May 122017
University of the Visayas New School of Art & Design (UNVS) in Cebu has set up the country’s first electronic games track as part of its senior high track for arts and design. The UNVS track for game design allows students to focus on e-sports or games development. The e-sports program involves students learning about theory, strategy, game awareness and mechanics. Games development includes learning about game design, entrepreneurship, branding and shoutcasting. The unique school offering will train and coach students with hands-on gameplay, and mentoring by top Dota 2 teams in the Philippines. “The whole game design senior high track is holistic in a way that it not only teaches skill but also leadership, strategy and values that kids need to become well-functioning and productive individuals. ‘This will not only build skills but also character through a new medium — gaming,’ Genesis Raña, founder and school director of UVNS, said in a Sunstar report. UNVS offers ideal equipment and facilities: Oculus Development Kit 2 for developers of virtual reality CLiPtec Nacrono gaming keyboard which can register multiple keys simultaneously CLiPtec Sauris Gaming Mouse for durable and solid enhanced long-lasting button life cycle to five million times, and interchangeable DPI levels SilverStone PS08 Gaming PC high end motherboard, a high-end CPU, a high-end graphics card, some RAM, a hard drive and the power supply CLiPtec’s Poison P8 Gaming Headset equipped with 40mm premium speakers The game design senior high track of UVNS will be open this June for all incoming Read More …
May 102017
The Philippines’ economic growth forecast for the years 2017 and 2018 has been upgraded in the latest Nomura Securities report. [via Reuters] The Nomura report “Philippines: Catching Up” released in April notes the country’s Gross Domestic Product (GDP) growing to 6.7 %, compared to the previous year’s 6.3%. Nomura economist Euben Paracuelles revealed that the Philippines’ significant growth is faster than other Asian peers such as Indonesia (5.6 percent), Malaysia (4.8 percent), Thailand (3.4 percent), and Singapore (2.5 percent), according to a report published by Stock Signals Philippines. The global investment bank says the country’s current GDP is improved by first quarter merchandise exports, specifically, that of electronic exports, which picked up demand from principal trading partners. Paracuelles further explains that the catching up refers to the electronic exports whose growth increased to 10.4 percent year-on- year, after a last quarter 2016 decline of 1.9 percent. Electronics shipments from the country jumped to 15.9% in February, credited to surge of export volumes, while other ASEAN countries maintained price restraints. The Nomura economic analyst added that the Philippines remains “relatively protected from risks of slowdown because it is accounted for in the 26.5 percent of GDP in exports of goods and services. Plus, the domestic demand remains stronger than ever.” Nomura believes that the Philippine “economy will remain resilient as the central powers of growth – investment spending and private consumption – continue to prosper.” The post Japan’s Nomura upgrades PHL economic growth appeared first on Good News Pilipinas. Related posts: PHL Read More …