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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

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

‘The economy is on a roll’ is legit news

For 2018, the global economy will surge past the consensus expectations, from the earlier forecast of 3 percent plus to 4 percent, according to the most serious of global economic forecasts. The US GDP, with its awesome base, is expected to post 2.5 percent growth and the Euro area by 2.2 percent. Shaking off its [...] The post ‘The economy is on a roll’ is legit news appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsFeb 3rd, 2018

Stock price index a point away from 9,000

  The local stock barometer surged to a new high on Tuesday---closing a hairline away from the 9,000 mark---as investors scooped up equities that fell following the report of slower-than-expected fourth quarter Philippine economic growth. The main-share Philippine Stock Exchange index (PSEi) added 48.4 points, or 0.54 percent, to close at 8,999.02, likewise drawing strength from upbeat regional markets. The PSEi advanced for the third straight session and marked its fifth record finish this 2018. Since the start of the new year, the index has gained another 5.1 percent, after rising by 25 percent for the whole of 2017. "The market faltered initially (in morning trade...Keep on reading: Stock price index a point away from 9,000.....»»

Category: newsSource:  inquirerRelated NewsJan 23rd, 2018

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_netRelated NewsJan 12th, 2018

BoJ tightening to begin sooner than expected

JAPAN’S ECONOMY will exceed growth forecasts this year, prompting the central bank to tighten monetary policy by mid-year, said Allen Sinai, president of Decision Economics Inc. Sinai said he expects Japan’s economy to grow 2% in 2018, and even faster in 2019, perhaps as much as 2.5%. “What has snuck up on everybody is the […] The post BoJ tightening to begin sooner than expected appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 12th, 2018

Economic managers cut revenue program for 2018

Economic managers on Friday trimmed the government’s revenue program for next year on account of lower-than-expected proceeds from the newly-signed Tax Reform for Acceleration and Inclusion (Train) Act. Economic growth and inflation targets were retained but other macroeconomic indicators were revised by the interagency Development Budget Coordination Committee (DBCC). The DBCC-approved revenue program for 2018 [...] The post Economic managers cut revenue program for 2018 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsDec 22nd, 2017

GDP growth in 2017 expected to top 6.7% — NEDA

THE ECONOMY will not hit 7% growth this year, but could do so in 2018 as infrastructure spending gains traction, Socioeconomic Planning Secretary Ernesto M. Pernia said. Mr. Pernia made the remarks in forecasting 2017 gross domestic product (GDP) growth of “at least 6.7%” but added that fourth quarter growth of 8% or more is […] The post GDP growth in 2017 expected to top 6.7% — NEDA appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 14th, 2017

NEDA eyes 6 big infra project rollouts, 8% GDP growth in 2018

MANILA, Philippines – Filipinos can look forward to some much-awaited infrastructure projects finally breaking ground in 2018, and bringing even stronger economic growth, if the expectations of the National Economic and Development Authority (NEDA) hold true. Next year is when the effects of the Build, Build, Build program are expected ........»»

Category: newsSource:  rapplerRelated NewsDec 14th, 2017

Fullerton Health announces PH market entry through the acquisition of Intellicare Group

Fullerton Healthcare Corporation Limited (Fullerton Health) have announced that it has entered into agreements to acquire a 60% stake in the Intellicare Group, one of the leading managed care providers in the Philippines. The Philippines is an important market in Asia Pacific for Fullerton Health, underpinned by attractive underlying growth drivers. Completion of the transaction is subject to the fulfilment of certain conditions and is expected to complete in early 2018. The Intellicare Group was founded in 1995 and is strategically aligned with Fullerton Health's vision of being Asia Pacific's preeminent total healthcare solution provider. The Intellicare Group comprises three comp...Keep on reading: Fullerton Health announces PH market entry through the acquisition of Intellicare Group.....»»

Category: newsSource:  inquirerRelated NewsDec 12th, 2017

‘PH debt to grow by 11% next year’

Total debt for the Philippines is expected to expand by 11 percent next year, S&P Global Ratings said, the second-fastest among Asia Pacific economies. Credit prospects are better for economies like the Philippines following the easing of market fears that were prominent a year ago, S&P said in its “Asia-Pacific Debt Growth 2018: Slightly Faster [...] The post ‘PH debt to grow by 11% next year’ appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsDec 5th, 2017