FACTORY PRODUCTION grew at its slowest pace in three months in December due to seasonal factors and a decline in trade performance, economists said. Preliminary results of the Philippine Statistics Authority’s (PSA) Monthly Integrated Survey of Selected Industries (MISSI) showed manufacturing, as measured by the volume of production index (VoPI), expanded by 4.8% year on […]
By Beatriz Marie D. Cruz A LAWMAKER has proposed imposing an entry tax on foreign visitors to help fund tourism development programs. “The fixed rate of $25 is proposed to be competitive with that of the current taxes other countries have set,” Camarines Sur Rep. Luis Raymund “L-Ray” F. Villafuerte Jr. said on Wednesday. He […]
VEHICLE production in the Philippines rose 10% in 2022, lagging growth rates posted elsewhere in Southeast Asia, according to the ASEAN Automotive Federation (AAF). In a report uploaded on its website, the AAF said Philippine motor vehicle output rose to 92,223 units in 2022. The growth leaders in the region were Myanmar (62.3%), Malaysia (45.8%), […]
THE PHILIPPINES will find it difficult to match its performance in 2022, but growth of 5.5% to 6.5% in 2023 will still stand out in the context of a slowing global economy, a senior legislator said. At an economic briefing hosted by the Management Association of the Philippines, Albay Rep. and House ways and means […]
STRONG DOMESTIC DEMAND may help support Philippine economic growth this year despite a potential global recession, according to the United Nations (UN). “There’s still a fairly good outlook for the Philippines as a whole. What supports the Philippines’ performance is still a very strong domestic economy which allows growth to be supported from that angle,” […]
SOUTHEAST ASIA needs to undertake more green investment to minimize environmental footprints and promote sustainable development, the Organisation for Economic Co-operation and Development (OECD) said in a report. “Investment for green growth is central to the ASEAN Comprehensive Recovery Framework (ACRF) and needs to be scaled up significantly to advance sustainable development in the region, […]
By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINES weathered record inflation and interest rate increases last year by posting the fastest economic growth since 1976 — one of the strongest in Asia amid a dreary global outlook. Economic output grew by 7.2% in the three months through December from a year earlier, according to […]
The Philippines just notched its fastest economic growth since disco music was rattling the airwaves and Gerald Ford was US president. Sustaining that pace against a gloomy global backdrop will be a challenge. The economy grew 7.6% in 2022, data showed Thursday, its best performance since 1976. President Ferdinand Marcos Jr. is betting the country […]
AMID the global headwinds, the Philippine economy grew 7.6 percent in 2022, exceeding the government’s economic team target of 6.5 percent to 7.5 percent for the year. Fourth quarter growth stood at 7.2 percent. Among the major emerging economies in the region that have released their fourth-quarter 2022 real gross domestic product growth, the Philippines […]
THE PESO climbed to a new seven-month high against the dollar on Thursday as the Philippine gross domestic product (GDP) growth was above target in 2022. The local currency closed at P54.40 versus the greenback on Thursday, rising by 23 centavos from Wednesday’s P54.63 finish, data from the Bankers Association of the Philippines showed. This […]
THE PHILIPPINE ECONOMY may have slowed in the fourth quarter of 2022, but still likely hit the upper end of the government’s full-year growth target, according to analysts. Read the full story.
PRESIDENT Ferdinand R. Marcos, Jr. at the weekend touted that global business and political leaders have tagged the Philippines as part of a so-called “VIP Club” of Asia due to its economic performance, which the government hopes would translate to more foreign investments. The Philippines’ participation in the World Economic Forum (WEF) in Davos, Switzerland […]
PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday said the Philippines would resist global recessionary headwinds, but warned that increasing tensions in the South China Sea were harming trade. In a speech at the World Economic Forum’s (WEF) annual meeting in Davos, Switzerland, the president said he was bullish about the country’s economic prospects. “My belief […]
GROWTH in the bulk prices of general goods eased to a nine-month low in November as supply stabilized. According to preliminary data from the Philippine Statistics Authority (PSA), the general wholesale price index (GWPI) rose 7.2% year on year in November from 7.6% a month earlier. In November 2021, the GWPI rose 4.2%. The November […]
EQS Newswire / 17/01/2023 / 19:22 UTC+8 NewbornTown releases unaudited annual operating figures of 2022, achieving steady growth with localized operations On 17 January 2023, the Hong Kong listed company NewbornTown Inc. (SEHK: 9911) released the unaudited operating figures of 2022. For the year ended 31 December 2022, the Company’s total revenue is expected to […]
BEIJING — China’s exports shrank sharply in December as global demand cooled, highlighting risks to the country’s economic recovery this year, but a more modest decline in imports reinforced views that domestic demand will slowly recover in coming months. While imports are expected to ride a wave of pent-up demand after China dropped its tough […]
NEW YORK, Jan 13, 2023 – (JCN Newswire via SEAPRWire.com) – Fujitsu will introduce its lineup of retail solutions for a changing world at NRF 2023 – one of the world’s leading events for the retail industry. Fujitsu’s showcase will emphasize solutions that deliver value in three key areas: Customer experience, Keeping your costs down, […]
THE Philippine service industry has achieved sufficient scale to start exploring diversification into new markets even during the looming global recession, economists said. “The goal is to be able to expand our investments and trade in services, such as in food, business activities and health, beyond our borders since economies of scale in the service […]
GROWTH in wholesale prices of general goods slowed in October, according to preliminary data from the Philippine Statistics Authority (PSA). The general wholesale price index (GWPI) rose 7.6% year on year, against 8.2% growth posted in September and 3.9% a year earlier. The October reading was the lowest since the 5.6% recorded in February 2022 […]
What can we expect from Ferdinand Marcos, Jr.’s administration in terms of policymaking in 2023? We can second-guess how the administration will conduct itself this year in two ways. The first is by examining how current conditions, global and national, will influence policy. The second is by reviewing actual behavior and performance of the Marcos […]