THE PHILIPPINES and the United Nations Industrial Development Organization (UNIDO) have signed a joint declaration reaffirming their commitment to accelerating sustainable industrial and economic development, according to a statement released Monday by the Department of Foreign Affairs. “The Philippines’ partnership with UNIDO has been transformative to the country’s development landscape and has been instrumental in […]
Tag: economic
G20 Sherpa committed to address global solutions
JAKARTA, Oct 1, 2022 – (ACN Newswire via SEAPRWire.com) – The third G20 Sherpa meeting in Yogyakarta has concluded with G20 member countries agreeing to seek solutions to myriad global problems. The 3rd Sherpa Meeting G20 Indonesia delegations travel around Borobudur Temple in Magelang, Central Java, Indonesia, Tuesday (29/9). (ANTARA PHOTO/Andreas Fitri Atmoko/POOL/rwa/FR) “During this […]
Diokno to US investors: PH is primed for a bright economic future
FINANCE Secretary and chairman of the Economic Development Cluster Benjamin Diokno showcased the Philippines’ solid macroeconomic fundamentals and “bright economic future” before American and international business communities at the Philippine Economic Briefing (PEB) in New York City, United States of America on Sept. 22, 2022.“As we pursue the economic transformation of the Philippines in the […]
Moody’s affirms PHL credit rating
MOODY’S INVESTORS SERVICE on Thursday kept the Philippines’ “Baa2” credit rating with a “stable” outlook, as economic recovery is unlikely to be hampered by “challenging global credit conditions.” In a statement on Thursday, the credit rater affirmed the country’s long-term local and foreign currency issuer and senior unsecured ratings at “Baa2.” “The rating action […]
IMF sees further global economic slowdown in third quarter
WASHINGTON – Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, IMF spokesman Gerry Rice said on Thursday. Rice told reporters that high-frequency data pointed to a further loss […]
Amazon, Apple and Google pledge training for women in Indo-Pacific
Fourteen US companies including Amazon.com Inc. and Visa Inc. each pledged to provide at least 500,000 digital training and education opportunities for women and girls in the Indo-Pacific region as part of a Biden administration initiative. The program, undertaken within the broader 14-nation Indo-Pacific Economic Framework for Prosperity, is focused on Brunei, Fiji, India, Indonesia, […]
Carvajal: Heroes as liberators
“Each and every one of us has been born into a given historical reality, ruled by particular norms and values, and managed by a unique economic and political system. We take this reality for granted, thinking it is natural, inevitable and immutable. We forget that our world was created by an accidental chain of events, […]
PEZA eyes more Bangsamoro ecozones
THE PHILIPPINE Economic Zone Authority (PEZA) is working with the Bangsamoro Autonomous Region in Muslim Mindanao to set up its own ecozone to boost economic growth in the region. An ecozone in Bangsamoro can generate jobs, exports and revenue, while creating opportunities for its people, PEZA Promotions and Public Relations Group Manager Aleem Siddiqui Guiapal […]
Carvajal: Branches of the same tree
Strictly speaking, a political turncoat is one that dumps the socio-economic and political beliefs of her/his party to join another party that swears by a different ideology. Our political parties, however, are essentially factions of one Extreme Right Party.Strictly speaking, therefore, party-jumping legislators are not turncoats but mere opportunists. Much like monkeys that instinctively hop […]
Indonesia at ‘pinnacle of global leadership’ — Jokowi
JAKARTA — Indonesian President Joko Widodo on Tuesday hailed his country’s growing stature on the global stage and reiterated calls for the Southeast Asian nation to be a “bridge of peace” between Russia and Ukraine. “In 2022, we hold the presidency of the G20, an international forum made up of the world’s largest economies. Next […]
PH Q1 economic growth slightly lowered to 8.2%
THE Philippines’ first quarter economic growth rate was slightly lowered to 8.2 percent from the 8.3 percent gross domestic product (GDP) expansion announced earlier this year, the Philippine Statistics Authority said Monday.In a statement, the PSA said the preliminary distributor in the downward revision of the GDP were the adjustments in the real estate ownership […]
PHL stocks flat ahead of key economic data
STOCKS opened the month flat ahead of the release of key economic data and more second quarter results of listed firms. The Philippine Stock Exchange index (PSEi) fell by 3.90 points or 0.06% to close at 6,312.03 on Monday, while the broader all shares index dropped 5.90 points or 0.17% to 3,392.92. “The market had […]
RI strives to bridge differences in G20 to overcome economic challenges
JAKARTA, Jul 18, 2022 – (ACN Newswire via SEAPRWire.com) – The third Finance Ministers and Central Bank Governors (FMCBG) meeting within the framework of Indonesia’s G20 Presidency kicked off in Nusa Dua, Badung, Bali, on Friday (July 15). The 3rd Finance Ministers and Central Bank Governors (FMCBG) Meeting of G20 in Nusa Dua, Badung, Bali, […]
IMF warns it will cut global growth forecast again with ‘darkened’ outlook
THE International Monetary Fund (IMF) warned it will again cut the forecast for global economic growth as impacts reverberate from Russia’s invasion of Ukraine, pandemic-related shutdowns in China and higher inflation. The outlook for this year and next will be downgraded later this month when the IMF releases its World Economic Outlook Update, Managing Director […]
US Fed’s Mester backs 75-bp hike if economic conditions stay the same
Cleveland Federal Reserve Bank President Loretta Mester told CNBC on Wednesday if economic conditions remain the same, she will advocate for a 75- basis-point (bp) hike in interest rates at the US central bank’s next monetary policy meeting in July. July’s meeting will likely involve a debate among Federal Open Market Committee (FOMC) policy makers […]
2022 Travel Itinerary Competition: Official Call for Design Submissions to Discover Charm of Sanya Economic Circle
China, Sanya , June 28, 2022 – (SEAPRWire) – Channels for submitting designs for the “2022 Travel Itinerary Competition” were officially opened on June 21, 2022. The event, which was first released online on May 30, 2022, as a prelude to the official launch, was organized by the Sanya Tourism Promotion Board together with tourism bureaus from other cities […]
Eisai Publishes Potential Economic Value of Investigational Lecanemab in Peer-Reviewed Neurology and Therapy Journal
TOKYO, Jun 22, 2022 – (JCN Newswire via SEAPRWire.com) – Eisai Co., Ltd. today announced publication of results from an early phase evaluation that aimed to estimate potential economic value of its investigational anti-amyloid-beta (Abeta) protofibril antibody lecanemab in people living with early Alzheimer’s disease (AD) using a validated disease simulation model, AD Archimedes Condition […]
“2022 Travel Itinerary Competition” for China’s beachfront Sanya Economic Circle kicks off, Win totalling CNY 200,000 in cash awards
On May 30, the Sanya Tourism Promotion Board, together with tourism bureaus from other cities and counties of the Sanya Economic Circle, jointly organized the “2022 Travel Itinerary Competition”. The competition aims to enrich the cultural and tourism resources of the Sanya Economic Circle with brand-new local travel routes and promote the integrated development of the area. Trip.com Group […]
BIR to inspect ecozone BPOs’ compliance with on-site work rules
THE Bureau of Internal Revenue (BIR) said it formed a task force to inspect compliance with the government’s order to resume on-site work for economic zone locators in the Information Technology-Business Process Management (IT-BPM) industry. In a statement on Wednesday, BIR Deputy Commissioner Arnel SD. Guballa said that mission orders have been issued authorizing inspections […]
Pandemic pushes informal Spanish workers out of the shadows
MADRID/ROME — For decades, a cash-filled envelope — or “sobre” — was how hundreds of thousands of Spaniards working without legal contracts in tourism, agriculture or construction collected their salaries. COVID-19, however, may finally be putting paid to the “sobre,” economic data and workers’ experiences suggest — accelerating a six-year-long crackdown in Spain on the […]