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| The Economy; News and updates about the local economy | |
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| Topic Started: Jan 27 2005, 04:47 PM (24,080 Views) | |
| spearhead | Nov 17 2011, 07:08 AM Post #211 |
DoctorNO, Your Neutral Observer.
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New US-PHL agreement to help improve PHL economy http://www.gmanews.tv/story/238721/busines...ove-phl-economy The Philippines and United States on Wednesday signed the Partnership for Growth agreement that is expected to “help the Philippines break into the ranks of the world’s high-performing economies." Foreign Affairs Secretary Albert del Rosario signed on behalf of the Philippines while Secretary of State Hillary Clinton signed on behalf of the US. The signing, held in Malacañang, was witnessed by President Benigno Aquino III. The signing officially launched the implementation phase of the economic initiative. “Just now, here, I officially launched the US-Philippines Partnership Growth — a rigorous, result-oriented collaboration to help the Philippines break into the rank of the world's high-performing emerging economy and achieve sustainable world based growth that would benefit all of the people of this country," Clinton said after the signing. She said Filipino leaders have laid the ground work for the implementation of the Partnership for Growth (PFG) by making reforms to improve transparency and tax collection and create more inclusive prosperity in the country. The Philippines is the only one in Asia to be included in the PFG initiative and one of the four pilot partner countries selected by the US. |
"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato  
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| ni84 | Nov 27 2011, 10:15 AM Post #212 |
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PH-Russian trade council formed Thursday, November 24, 2011 Sun Star Cebu RUSSIAN Honorary Consul Armi Lopez Garcia, President of the Philippine-Russian Business Assembly Inc. (PRBA), has announced the approval last Nov. 9 by the Chamber of Commerce of a counterpart Russian Federation of the Russian-Philippine Business Council (RPBC). The RPBC is the 68th business council created under the Russian Chamber of Commerce. The RPBC’s first act was to sign a memorandum of agreement with the Philippine-Russian Business Assembly (PRBA), its counterpart in the Philippines that was established in 2009. Garcia welcomed “this historic memorandum of agreement between the RPBC and the PRBA...proof of the commitment of both countries to strengthen economic and cultural ties.” She said she expects the alliance to translate to more tourists, more trade and more investments from Russia. Georgi Petrov, vice president of the Russian Federation’s commercial and trade department, said “The RPBC will assist in the development and strengthening of mutually advantageous bilateral economic relations to businesses giving primary attention to medium-sized businesses.” Petrov said the formation of the RPBC - which falls on the 35th year of the establishment of diplomatic relations between the two countries - was needed to take advantage of the growing trade and economic relations between Russia and the Philippines. Bilateral trade increased more than 80 percent in 2010, exceeding $713 million. He expects this to pass the $1 billion mark by end of 2011 with more Russian tourists, trade missions and investors coming to the Philippines. Russian investments in the fields of transport, communications, tourism, food, telecommunications, mining, energy and power, point to more vibrant economic relations in the future. Russia is an attractive and rich market for Philippine exports, Garcia said. Top Philippine exports to Russia in 2009 were desiccated coconut, carrageenan, lighters, personal care products, and banana chips. There is also strong demand for canned and fresh seafood products, fresh fruits, home decors, fashion accessories and furniture. (PR) Published in the Sun.Star Cebu newspaper on November 25, 2011. |
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We shall not fail or falter; we shall not weaken or tire...Give us the tools and we will finish the job. Sir Winston Churchill, BBC radio broadcast, 1941 We'll settle this the old navy way: first guy to die, loses. President Thomas 'Tug' Benson, Hot Shots! Part Deux  Raketnye voyska strategicheskogo naznacheniya Rossiyskoy Federatsii 15,000 nukes and enough for another 40,000 | |
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| spearhead | Dec 10 2011, 10:52 PM Post #213 |
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DoctorNO, Your Neutral Observer.
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 The Philippine economy -- the Sick (Yellow) Man of Asia  Q3 2011 GDP growth rate: Indonesia = 6.5% Vietnam = 6.11% Singapore = 6.1% Malaysia = 5.8% Thailand = 3.5% Philippines = 3.2% |
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"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato
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| spearhead | Dec 10 2011, 10:58 PM Post #214 |
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DoctorNO, Your Neutral Observer.
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World Bank notes low PH investments The Philippines and other emerging markets can take advantage of the still optimistic outlook among global investors to draw more foreign direct investments, despite the problems in Europe and the Middle East. A new report released Thursday by the World Bank’s Multilateral Investment Guarantee Agency conceded that heightened global risk perceptions in the aftermath of the financial crisis, fueled by sovereign credit risk in the developed world and political crises in the Middle East and North Africa, had increased investors’ concerns. The 88-page report titled World Investment and Political Risk said global investors were “cautiously optimistic” about their investment plans in the next 12 months. It said nearly 75 percent of corporate respondents had plans to expand in developing countries over the next three years. Among emerging markets, the Philippines received one of the lowest levels of foreign direct investments last year. FDI net inflows in the Philippines amounted to just $1.71 billion in 2010, just a fraction of the global FDI flows of $1.3 trillion. FDIs received by the Philippines last year were much lower than China’s $185.08 billion; Brazil’s $48.4 billion, Russia’s $42.9 billion, India’s $24.2 billion, Mexico’s $18.7 billion, Indonesia’s $13.3 billion, Malaysia’s $9.51 billion, Vietnam’s $8 billion and Thailand’s $6.31 billion. Data from the Bangko Sentral showed that FDIs fell further in 2011, amounting to just $810 million in eight months to August, from $1 billion a year ago. 
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"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato
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| spearhead | Dec 16 2011, 03:03 AM Post #215 |
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DoctorNO, Your Neutral Observer.
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Peso drops to weakest level in 10 months http://www.abs-cbnnews.com/business/...evel-10-months MANILA, Philippines - The peso lost 23 centavos to hit its lowest level in 10 months, breaching the 44 to $1 level as rising fears of mass downgrades by credit rating agencies for European Union economies led to more risk aversion among portfolio fund owners. The local currency weakened to 44.11 to $1 from Tuesday’s 43.88 to $1. This was the weakest level of the peso since closing at 44.21 to $1 last Feb. 1. At the Philippine Dealing & Exchange Corp., the peso opened at 43.99 to $1 and hit an intra-day low of 44.16 to $1. Yesterday’s trading volume was heavy at $1.26 billion from Tuesday’s volume of $1.015 billion. Traders said the dollar continued to gain ground against the peso despite rising remittances from overseas Filipinos. The Bangko Sentral ng Pilipinas (BSP) has retained the growth forecast for OFW remittances at 7% this year and 5% next year. Furthermore, monetary authorities vowed to support economic growth next year with a monetary policy stance that would be responsive to global economic developments amid a stable inflation environment. “The BSP’s monetary settings will be responsive to these developments. We will endeavor to support economic growth while maintaining a non-inflationary operating environment,” BSP Governor Amando M. Tetangco Jr. said. The US Federal Reserve warned the other day that the debt crisis in Europe would continue to present a big risk to the US economy. “The Fed’s assessment of moderate expansion in US economy and of some improvement in US labor conditions is a welcome development to its trading partners, including the Philippines,” he said. The BSP chief earlier hinted that there is room for monetary authorities to ease the country’s policy stance early next year in light of the manageable inflation outlook as well as weaker than expected economic growth of the country. “The Fed has also echoed the sentiment of other policy makers, including the BSP, that how the global recovery would pan out depends largely on the speed and order of the resolution of the EU debt crisis. The Fed’s assessment supports our own cautious policy stance,” Tetangco said. Last December 1, the BSP kept interest rates steady for the fifth consecutive policy-rate setting meeting due to benign inflation outlook. As a preemptive move to keep inflation expectations well anchored, the BSP raised interest rates by 25 basis points last March 24 and by another 25 basis points last May 5 due to the continued build up in inflation pressures brought about by escalating prices of oil and food in the world market. This brought the overnight borrowing rate is currently pegged at 4.50% while the overnight lending rate is at 6.50%. |
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"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato
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| C.C. | Dec 16 2011, 02:54 PM Post #216 |
Green-haired Immortal Pizza Witch!!
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Our friend Vietnam has 8 times more foreign investment than the Philippines, despite that Vietnam is not capitalist country as compared to us. Another ASEAN friend, Thailand has 6 times more foreign investments than the Philippines, despite the political turmoil and the huge floods that they are going through until now. Is this because that all efforts of the present administration are only focused in jailing Gloria etc and impeaching Corona? Please Pnoy, kindly remember that we have the so called "economy" to improve. It is more important than giving any attention to the demons. If this keeps up, the public will suffer more, and the approval ratings that PNoy and Kris always boast will drop steeply. 1 year, it will only take 1 year. |
 Ay put&! Nahulog.................... | |
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| Numbers | Dec 16 2011, 05:53 PM Post #217 |
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S&P raises Philippines' rating outlook to positive MANILA, Philippines - Debt watcher Standard & Poor's raised its outlook for the Philippines to positive from stable, indicating that a rating upgrade is likely soon. S&P said the revised rating outlook was supported by the Philippines' strong external liquidity and improving fiscal position. It affirmed the country's foreign currency rating of 'BB/B' and local currency rating of 'BB+/B', two notches below investment grade. Read more |
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One little two little three little four little... Behind every successful man, there is a woman And behind every unsuccessful man, there are two. A bus station is where a bus stops. A train station is where a train stops. On my desk, I have a work station.... | |
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| spearhead | Dec 20 2011, 07:47 AM Post #218 |
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DoctorNO, Your Neutral Observer.
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Don’t count on anyone but PHL THE comments coming from the government as to what is going to propel the Philippine economy in the next 12 months seem largely disconnected from reality. On one hand, the government fully intends to speed up spending to “stimulate” the economy. In my column a few weeks ago, “2011: A wasted year,” I said that the year was wasted by a government that spent its time trying to figure out what to do and then doing nothing. Now the government is rushing in (supposedly) to make up for what has not happened in the last 12 months. My friend Boo Chanco in his Philippine Star column yesterday, titled “Govt spending alone won’t do it,” is partially correct. An economy cannot rely on stimulus spending for growth. Just ask the US. However, government spending in a country like the Philippines does have a much greater economic effect for growth than in more developed countries. Further, in a small economy such as the size of the Philippines, the synergy of private spending, coupled with public spending is much greater. While the government is building the infrastructure, such as a new major highway, the private sector is putting up the commercial and residential developments along that highway. The Aquino administration blew it in 2011 and they cannot make up for it now. Think back a year ago. There were signs that the West, particularly the US, was beginning to stabilize. The fear of a default of Greece was months away. China’s stock market had not dropped 25 percent and its property prices were not down 50 percent. There was enthusiasm in the Philippines that 2011 would be the year of the public-private partnership infrastructure projects. :bash: Going into 2012, Europe is on the brink of disaster with no one really knowing whether there will even be a euro by 2013. China is looking at a sub 7-percent economic growth possibility, which is the same as zero for that nation. Philippine businesses are cautious, particularly against the current political climate. Foreign investments into the country are worse than in 2010 and the growth of in-bound money flows from all sources is slowing. Now in 2012, the government says it is ready to go full- speed ahead while the private sector is cautious and a bit worried. That is the type of bad timing that causes major economic problems. :bash: Listening to recent comments from the National Economic and Development Authority (Neda), I worry that perhaps they are reading reports and seeing data from 2010 and not 2011. |
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"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato
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| spearhead | Dec 21 2011, 05:32 AM Post #219 |
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DoctorNO, Your Neutral Observer.
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Meanwhile..... Philippines, China trade grows despite row By Jerome Aning Philippine Daily Inquirer 3:12 am | Tuesday, December 20th, 2011 Despite the diplomatic spat over conflicting claims on the West Philippine Sea (South China Sea), trade between the Philippines and China grew 32 percent in the first 10 months of the year, the Department of Foreign Affairs said Monday. Citing a report from the Philippine Embassy in Beijing, the DFA said the growth in trade signaled “the continuing robustness of the bilateral economic relations amid weaknesses in the global economy.” General Administration of China statistics showed that total trade between the two countries reached $26 billion (about P1.14 trillion) in the first 10 months of 2011, a rise of 31.69 percent over the same period last year. Embassy Charge d’affaires Alex G. Chua welcomed the figures “as an indication of the strength, resilience and potential of the trade and economic ties between the two countries.” “The momentum is positive and encouraging for both sides, especially as both countries aim to meet the $60-billion trade goal by 2016, which was set jointly by President Benigno Aquino III and Chinese President Hu Jintao in September during Mr. Aquino’s visit to China,” Chua said. From January to October this year, Philippine exports to China topped $14.6 billion (about P639 billion) while Chinese exports to the Philippines totaled $11.4 billion (about P499 billion), expanding by 21 percent and 50 percent, respectively. http://globalnation.inquirer.net/211...ws-despite-row |
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"Men of War must learn the art of numbers or he will not know how to array his troops." - Plato
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| Hitman | Dec 23 2011, 10:41 PM Post #220 |
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The Philippines should lay out economic strategies and plans for the future like deaveloping more agribusiness and agriculture self sufficiency and exports of agricultural products to hungry most populous countries like China and India. Since these countries are export driven in manufacturing we can engage them with our agricultural products as their population grows, in addition to our own population growth. However, the Philippines also need to carefully plan its agricultural resources like focusing more of the food production in less typhoon areas of the country especially Mindanao although the recent typhoon caused havoc in Cagayan de oro, this is rare in the region and with strict enforcement of anti logging and deforestation with sustainability with agriculture, less damage will occur during calamities. the main problem in some parts of Mindanao is the insurgency. The efforts for the final solution for this problem should be accelerated besides, if economic development and prosperity will happen in the rigion, the insurgency will eventually decline. Conitnous R&D in identifying disaster prone areas to divert economic activity and growth should be done including disaster preparedness to sustain damage and costs during calamities as we know no one is greater than nature's wrath but being prepared and careful planning of economic activitiy and building of infrastructures will save money and lives. For example Batanes and Aparri is a known typhoon path more often than other parts of Luzon then these areas should only be exploited for tourism and modest agriculture and during the typhoon season, these areas should be half vacated in preparation of the typhoons aside from warnings by Pagasa should be coordinated and there should be no tourist during this season. During typhoon seasons these areas should be only planted with crops that can survive a typhoon with less investment then after the typhoon season the regular crops can be planted again and harvested so as tourism will resume after the typhoon season. |
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