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Growth expected to hit 7% in 2018

Economic growth could pick up to 7.0-7.2 percent this year on the back on higher infrastructure and consumer spending as a result of a new tax reform law, a unit of Bank of the Philippine Islands (BPI) said on Friday. “We are extremely optimistic of the growth of the Philippine economy,” BPI Asset Management and [...] The post Growth expected to hit 7% in 2018 appeared first on The Manila Times Online......»»

Category: newsSource: manilatimes_net manilatimes_netJan 12th, 2018

ING Bank cuts Phl GDP growth forecast

Dutch financial giant ING Bank is painting a gloomier picture of the Philippine economy, slashing its 2018 growth forecast to 6.3 percent from the original forecast of 6.8 percent after a slower-than-expected expansion in the second quarter......»»

Category: financeSource:  philstarRelated NewsAug 12th, 2018

Fitch Solutions cuts PH growth forecast

Another 25-bps policy rate hike expected before yearend A Fitch Group unit has cut its 2018 growth forecast for the Philippines following a substantial second-quarter slowdown, also warning of continued headwinds amid government claims of a production-led recovery in the months ahead. In a report released on Friday, Fitch Solutions (formerly BMI Research) said it now [...] The post Fitch Solutions cuts PH growth forecast appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsAug 11th, 2018

World Bank keeps PH growth forecasts at 6.7%

The World Bank is keeping its 2018 and 2019 growth forecasts for the Philippines at 6.7 percent, with higher state spending expected to provide a buffer against rising global uncertainties. In a statement on Friday, the multilateral institution said it had re-examined the expected drivers of gross domestic product (GDP) growth — used as the [...] The post World Bank keeps PH growth forecasts at 6.7% appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 13th, 2018

WB maintains Philippine growth forecast

THE World Bank sees stronger growth during the second half of 2018 on the back of stronger public spending, with the Philippine economy expected to sustain its pace despite global headwinds......»»

Category: financeSource:  bworldonlineRelated NewsJul 13th, 2018

Macro imbalances ‘likely to intensify’

Inflation, trade deficit to expand as PH growth stays strong – ANZ Research Strong Philippine economic growth has resulted in persistent macro imbalances, Australia’s ANZ Research said, the most telling of which have been higher inflation and a wider trade deficit. “With growth expected to remain high at 6.8 percent in 2018, macro imbalances are… link: Macro imbalances ‘likely to intensify’.....»»

Category: newsSource:  manilainformerRelated NewsJul 9th, 2018

Macro imbalances ‘likely to intensify’

Inflation, trade deficit to expand as PH growth stays strong – ANZ Research Strong Philippine economic growth has resulted in persistent macro imbalances, Australia’s ANZ Research said, the most telling of which have been higher inflation and a wider trade deficit. “With growth expected to remain high at 6.8 percent in 2018, macro imbalances are [...] The post Macro imbalances ‘likely to intensify’ appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 9th, 2018

Textile industry in Vietnam expects high growth rate

HANOI --- The textile and apparel industry has been forecast to have one of Vietnam's highest growth rates over the next 12 years. It's expected the business will grow by 14 percent over the next two years and a further 10 percent up to 2030. Speaking at the 4th Vietnam Textile Summit 2018 held in Hanoion Wednesday, Dr. Tran Du Lich said he believed the future would be bright. "Garment and textile is a key economic sector in terms of employment creation and contribution to exports. It creates 20 percent of jobs in Vietnamese industry," said Lich. This sector has the second highest export turnover and occupies the fifth position in the world. Last year saw goods worth more than US$3...Keep on reading: Textile industry in Vietnam expects high growth rate.....»»

Category: newsSource:  inquirerRelated NewsJul 1st, 2018

Govt committed to support MSME growth

The Philippines is on track to be one of the fastest growing economies in the Southeast Asia region with the World Bank forecasting its real GDP to grow at a rate of 6.7% for 2018 and 2019. This expansion is expected to be leveraged by the manufacturing and services sectors, supported by rising external demand [...] The post Govt committed to support MSME growth appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 30th, 2018

E-commerce growth expected to drive more brick-and-mortar businesses to the Philippines

By Krista Angela M. Montealegre National Correspondent EXPECT more global brands to find their way to Philippine shores, as traditional brick-and-mortar stores struggle in more advanced economies because of the growth of e-commerce. At the Philippine Retail Summit 2018 in Taguig City on Thursday, Trade Undersecretary Zenaida C. Maglaya said foreign retailers will set up […] The post E-commerce growth expected to drive more brick-and-mortar businesses to the Philippines appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 24th, 2018

Business of Football - Philippines highlights football s growth in the country

MANILA -  The recent success of The Azkals, with their Asian Cup qualification, and their FIFA ranking at its highest at 111, has given football a renewed confidence, and a positive outlook in terms of the growth of the sport in the Philippines.   Football is now tipped to become the fastest growing sport in the country, with the largest potential for success commercially, and in terms of on-pitch success.  The sport which is currently number 3 in the Philippines in terms of popularity and participation, after basketball and boxing, is said to be still further behind compared to other sports, such as volleyball, billiards, etc., in terms of TV coverage. These were among the insights and trends gathered from top-notch executives of organizations such as AFC, PFF, PFL, LaLiga, Dentsu X, SMG Insight, Globe Telecom, RSportz, Toby Sports and Manila Times, at the ‘Business of Football - Philippines’, organized by MMC Sportz.  The sold-out event was attended by more than 185 local and foreign delegates on 18 May 2018 at the New World Makati Hotel.   MMC Sports CEO Eric Gottschalk says, “Research in this market, shows that TV is still the number one platform here in the Philippines, and is the number one medium that advertisers are looking for, to spend their budgets on.  We also learned that live TV coverage actually stimulates stadium attendance, and not vice versa.  If there’s more football on TV, we will see more fans in the stadium.  Currently football is not ranked among the top 100 TV programmers in the Philippines and is only number 3 sport in terms of participation and popularity after basketball and boxing.  Football needs media in order to drive commercial revenues for the clubs.”   “Now is also the perfect time to get involved in football since sponsorship and advertising opportunities are currently very affordable compared for example to basketball, but this is predicted to change within the next 6-12 months, as values are expected to increase sharply.  Football also needs to create more idols and heroes to attract more media coverage overall, other than just covering game scores. Each team has a unique story which just needs to be told,” says Gottschalk. Following the presentation about the Philippines Football League (PFL) it was agreed that the PFL now fills the lack of regular created football content as the leagues matches (87 in 2018/19 season) contribute year-round stories to keep football in the news. In the past, the main talking points were around the Azkals which only play very few home matches each year.      Public education about the game of football is also needed on all levels as many people in the Philippines are still not aware about the rules or aware of programs available like coaching academies, amateur competitions, or how and where to follow the professional league.  Ten thousand (10,000) qualified grassroots coaches are also needed to satisfy the local demand and to trigger strong football development and growths. Investors on the other hand are looking for consistency and credibility of the football product but with the PFL in the second season and foreign sponsors expected to invest in the Philippines, local brands should consider to follow suit.  On the sports retail side, only 1.5% of current retail sales are attributed to football, while basketball enjoys a healthy 46% market share. As a result, only limited line items and stocks are available in stores and entry level boots and replica jerseys are too high priced to be affordable for the average consumer. The national player registration program, MY PFF, has been launched with the objective to collect vital statistics and data about the football community which is urgently needed to support the youth football development strategy of the PFF and to develop a players pathway.  As FIFA has mandated to register the estimated 1.5 million players in the Philippines, the PFF has urged organizers and players to already register online as by next month only registered players will be allowed to participate in sanctioned events. The “Business of Football – Philippines” conference also announced 36 career opportunities related to sports and football, including positions in marketing, legal, competition management and coaching, with all these listing being available online with MMC Sportz or for direct inquiries with the PFF. In his closing remarks, MMC Sportz CEO Eric M. Gottschalk stated that “More importantly, Don’t Break the 12th Man! It is important that all stakeholders don’t forget to engage with the fans. The fans are the most important aspect of the development of football in the Philippines – if there are no fans of football then there is no media, no spectators, no players, no games, no business. Everyone is required to ensure we keep the fans (football consumers) engaged year-long and the first step would be to get the media behind the game. There is a strong football - community out there already and hopefully, we the TV broadcasters will take another look at football and give them at least some consideration on the program schedule.  I believe today’s conference was a great success.  We brought the football community together, stimulated thinking, exchanged ideas and transferred a lot of knowledge. Now it is up to the football stakeholders to continue the progress.  From our end (and with the approval of the PFF) we will stage the 2nd edition of BOF early 2019 and hopefully we will be able to report on some of the changes initiated today.”    Speakers who shared their insights include LaLiga Managing Director for South East Asia, Japan, Korean and Australia Ivan Codina, AFC Head of MA Services Domeka Garamendi, SMG Insight Managing Director Frank Saez, Azkals Team Manager Dan Palami, Globe Director for OIC, Citizenship and Advocacy Marketing Miguel Bermundo, PFL CEO Lazarus Xavier, PFF General Secretary Atty. Edwin Gastanes, Ignite Sports Group Managing Director Michael Reyes,  Asian Replica Designs Founder & Owner Jonathan Mallinson, Quorum Group President & COO Jose Claudio, Jr., Mediapro Asia Director of Sales and Sponsorship Salauddin Sinnakandu, and MMC Sportz Marketing CEO Eric Gottschalk.  Organized by MMC Sportz Asia, the event was sanctioned by the Asia Football Confederation (AFC) and the Philippines Football Federation (PFF), and sponsored by La Liga, Dentsu X, SMG Insight, RSportz, Globe Telecom, Toby’s Sports, Manila Times and Platinumlist. - RELEASE  .....»»

Category: sportsSource:  abscbnRelated NewsMay 22nd, 2018

Global economy to grow faster than expected in 2018-19 at 3.2%: UN

United Nations — The global economy is set to expand faster than expected in 2018 and 2019, the United Nations said Thursday, predicting a new a growth rate of 3.2 percent. “Growth in the world economy is surpassing expectations and global GDP is now expected to expand by more than three per cent this year […] The post Global economy to grow faster than expected in 2018-19 at 3.2%: UN appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 18th, 2018

BMI hikes PH forecast but warns of slowdown

A Fitch Group unit has upgraded its 2018 growth forecast for the Philippines following stronger-than-expected first quarter results but also warned of a slowdown over the rest of the year. In a report released Thursday, BMI Research said it now expected real gross domestic product (GDP) growth of 6.5 percent this year, higher than the [...] The post BMI hikes PH forecast but warns of slowdown appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 18th, 2018

PH economic growth expected to accelerate

AMRO maintains forecasts for 2018, 2019 but warns of risks Philippine economic growth is expected to pick up this year and the next but a trade war between the United States and China could pose downside risks, a regional surveillance unit created under the Chiang Mai Initiative said. The Asean+3 Macroeconomic Research Office (AMRO), which [...] The post PH economic growth expected to accelerate appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 3rd, 2018

Global commodity prices to rise faster in 2018

Global commodity prices are expected to rise faster than expected in 2018 because of rising demand accompanying faster global growth, according to a report by the World Bank......»»

Category: financeSource:  philstarRelated NewsApr 29th, 2018

2018 PH growth expected to near 7%

Philippine economic growth could approach 7 percent this year on the back on strong government spending, Manulife Asset Management and Trust Corp. said. “We think that Philippine GDP (gross domestic product) growth will be close to 7 percent, probably one of the fastest rates of growth in Asia,” Manulife Asset Management and Trust Corp. senior [...] The post 2018 PH growth expected to near 7% appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 16th, 2018

World Bank sees steady 6.7% growth for Philippines

The Philippines is expected to remain among the fastest-growing economies in East Asia and the Pacific with steady growth of 6.7 percent in 2018 and 2019, the World Bank said yesterday......»»

Category: financeSource:  philstarRelated NewsApr 13th, 2018

Philippines in golden age of growth – ADB

MANILA, Philippines – The Philippines is experiencing a unique period of growth and is expected to continue along that path in the short term, according to the Asian Development Bank (ADB). In its 2018 Asian Development Outlook 2018 released on Wednesday, April 11, ADB projected the Philippine economy to grow ........»»

Category: newsSource:  rapplerRelated NewsApr 11th, 2018

Which way to grow?

In the World Bank’s January 2018 Global Economic Prospects report, the Philippines was expected to post a steady 6.7% growth this year and in 2019, before a slight decrease to 6.5% in 2020.   Although the estimates are lower than the government’s 7.0% to 8.0%, the Philippines is still seen by the World Bank to […] The post Which way to grow? appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 1st, 2018

Infra spending expected to boost GDP growth to 6.8%

The Asean+3 Macroeconomic Research Office (Amro) raised to 6.8 percent its 2018 growth forecast for the Philippines with the massive "Build, Build, Build" program expected to boost economic expansion. "After expanding by 6.7 percent in 2017, the Philippine economy is expected to grow by 6.8 percent in 2018 and 6.9 percent in 2019 as exports remain buoyant while budget execution gradually improves," the regional macroeconomic surveillance organization said in a statement. In January, Amro slightly cut to 6.7 percent from 6.8 percent previously its gross domestic product growth forecast for the Philippines, citing "the softening of private sector demand from the third-quarter 2017 GD...Keep on reading: Infra spending expected to boost GDP growth to 6.8%.....»»

Category: newsSource:  inquirerRelated NewsMar 17th, 2018

Consumer spending seen driving GDP growth to 7%

By Melissa Luz T. Lopez Senior Reporter THE PHILIPPINE economy is expected to grow by 7% this year led by stronger consumer spending with Filipinos expected to have more take-home pay as a result of lower income tax rates, a consulting firm said. Gross domestic product (GDP) will likely be higher in 2018, hitting the […] The post Consumer spending seen driving GDP growth to 7% appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 26th, 2018