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Exports expected to gradually recover this year
The Philippines is expected to see an improvement in exports this year, but the recovery would be gradual, according to think tank Oxford Economics......»»
Russian car production surged in 2023 - data
The industry has rebounded after a sharp downturn in 2022 Russian factories produced more than 700,000 vehicles last year in what has been a rapid recovery from Western sanctions, Russian Deputy Prime Minister Denis Manturov announced on Monday. Car production in Russia rose by 16% in 2023, with ov.....»»
Clark airport exceeds 2023 passenger target
Clark International Airport, the alternative gateway to Metro Manila, breached its passenger target in 2023 amid the recovery of global air travel......»»
Philippine stocks advance following Wall Street rally
Philippine stocks bounced back yesterday, aligning with the recovery in Wall Street......»»
Recto sees ‘realistic’ 6-6.5 percent growth for Philippines
Finance Secretary Ralph Recto is looking at a “more realistic” economic growth of at least six to 6.5 percent for this year, with medium-term economic expansion likely to be tempered as well......»»
Regional growth centers eyed for pharma ecozones
Ecozone developers are looking at the provinces of Bulacan, Laguna, Tarlac and Cebu as areas for establishing pharmaceutical economic zones in the country, according to the Philippine Economic Zone Authority......»»
Government sticks to 6.5-7.5 percent growth target for 2024
Despite global and domestic headwinds, the government is still aiming to attain a 6.5 to 7.5 percent economic growth for this year, according to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan......»»
‘Philippines elevating to upper-middle income status next year’
The Philippines remains on track to become an upper-middle income economy in 2025, even as the government trimmed its economic growth target for this year, according to the National Economic and Development Authority......»»
PCCI cites economic benefits from Philippines-EU FTA
The country’s largest business organization welcomed the announcement of the resumption of the free trade agreement negotiations between the Philippines and the European Union as it expects the deal to bring economic benefits for both parties......»»
PH Remains One of the Fastest Growing Economies in East Asia and Pacific, World Bank Says
The World Bank retains its positive outlook on the Philippine economy despite foreseen challenges. According to their April 2024 East Asia and Pacific Economic Update, the World Bank projects a 5.8 percent economic growth for the Philippines this year — the East Asia and Pacific region’s second fastest-growing economy. Moreover, the said update also adjusted […].....»»
‘Economic decisions independent from politics’
Finance Secretary Ralph Recto has maintained that his decisions will be separated from his long-standing political background as he pushes for the country’s economic progress......»»
Ex-President Duterte to back ChaCha if revisions limited only to economic provisions
DAVAO CITY (MindaNews / 28 February) – Former President Rodrigo R. Duterte has changed his stance on Charter Change (ChaCha), saying he will support it for as long as the constitutional reforms will be limited to economic provisions and not to extend the term of the current President, Senators, and members of the House of […].....»»
Quick rollout of PPPs to boost economic growth
The rollout of more infrastructure projects that involve the private sector is expected to prop up economic growth with the government likely to make up for its lagged spending last year, according to banking giant UBS......»»
NEDA welcomes award of NAIA PPP
The award of the contract for the P170.6-billion project to rehabilitate the Ninoy Aquino International Airport highlights the emphasis of the Marcos administration in providing world-class air transportation infrastructure to achieve the government’s economic transformation agenda, according to the National Economic and Development Authority......»»
PEZA crafting guidelines for pharma ecozones
The Philippine Economic Zone Authority is finalizing a set of guidelines covering the registration of pharmaceutical economic zones in the country......»»
‘Why we need to amend the restrictive economic provisions’ (Continued from last week)
Of the original five members of ASEAN – Indonesia, Malaysia, Philippines, Singapore and Thailand – we are unique in that some important economic sectors are singled out for specific protection under the Constitution, the fundamental law. All the other countries simply left all matters pertaining to economy and business to ordinary legislation......»»
Analysts paint rosier economic picture for 2024
The country’s strong economic growth is likely to be sustained this year on the back of rising exports and robust private consumption, according to the Department of Trade and Industry as well as private banks......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»
BPO workers in economic zones must work on-site, says DOJ
Business process outsourcing firms (BPOs) within special economic zones that adopt work-from-home (WFH) arrangements for their employees are no longer entitled to tax incentives, according to the Department of Justice (DOJ). In a legal opinion dated Jan. 3, Justice Secretary Jesus Crispin Remulla contradicted the position taken by the Department of Trade and Industry (DTI),.....»»
Xinhua world economic news summary at 0830 GMT, Jan. 18
DAVOS, Switzerland -- Although the global economy is facing sluggish growth and numerous challenges, business leaders attending the 54th annual meeting of the World Economic Forum (WEF) remain confident over the prospects of the Chinese economy. Over recent years, China has been an important engine for the global economy. China's gross domestic product (GDP) posted a growth of 5.2 percent year-on-year in 2023, h.....»»