MANILA – Along with the world’s biggest economies, the Philippines has been showing “signs of recovery” from the global crisis, the National Statistical Coordination Board (NSCB) said on Wednesday.
According to NSCB Secretary-General Romulo Virola, a number of the country’s major economic indicators have started to show signs of recovery as early as February this year.
He said the pac
read more...
Most Philippine banks are strong enough to withstand effects of the global downturn, international credit rating agency Fitch Ratings Ltd. said in a statement datelined Singapore.
This explains why the New York and London-headquartered agency kept a stable outlook on most banks’ credit ratings, even with weak macroeconomic indicators, the agency added.
Read more…
read more...
MANILA – Amid dreary forecasts made by various international and multilateral organizations, economic research group IDEA (Institute for Development and Econometric Analysts Inc.) is expecting the Philippines to escape recession this year with a 1.74% gross domestic product (GDP) growth.
According to IDEA Chairman and University of the Philippines professor Cayetano Paderanga Jr., the economy is unlikely to e
read more...
TIANJIN – Powerade Team Pilipinas failed to put up the game it desired in preparation for the quarterfinals, pulling off a so-so 85-71 win over lowly Kuwait in the final day of the 25th FIBA Asia Championship eliminations at the Tianjin Gym here yesterday.
“I’m disappointed even if we won the game. I think of all the games we’ve played here, this is the worst in terms of energy level we put in. I don’t
read more...
MANILA, Philippines – Many predicted a grim future for the export-dependent Philippines as the global slump hit world trade, but recent data suggest it could avoid recession as the government remains defiant.
The Philippines has talked up its resilience, while bodies such as the World Bank (WB) and International Monetary Fund (IMF) see the country economy contracting this year.
Read more…
read more...
MANILA, Philippines – The country’s foreign exchange reserves nearly hit the $40 billion level as of end July 2009, boosted by proceeds from the government’s second global bond issue last month and income from the central bank’s investments abroad, the Bangko Sentral ng Pilipinas (BSP) announced yesterday.
The end-July dollar reserves level of $39.99 billion was higher by $496 million from the end-Jun
read more...
MANILA – Philippine President Gloria Macapagal-Arroyo and US President Barack Obama finally met at the White House Thursday (early morning Friday), with the two leaders praising Philippine-US partnership in a range of issues.
Arroyo, the first Southeast Asian leader who was received by Obama in the White House, arrived at around 3 p.m. at the executive mansion, where pro- and anti-Arroyo groups held protest
read more...
17th in a series on GMA’s 9th State of the Nation Address
MANILA – Trimming public debt was one of the accomplishments President Arroyo bragged about in her 9th State of the Nation Address on Monday.
All smiles, Mrs. Arroyo claimed that the next generation will benefit from the huge reduction in public debt-to-gross domestic product (GDP) to 55% from 78%, and the cut in foreign debt to 32% from 73% und
read more...
MANILA – Each 92.2 million Filipino now owes P46,178 in April, or P325 more than the previous month, as the country’s debt stock increased by P30.4 billion in April.
A weaker peso and an increase in domestic borrowing pushed up the government’s outstanding debt up by 0.7% at end-April from the previous month, the Bureau of Treasury said.
Read more…
read more...
MANILA – The Asian Development Bank (ADB) said Thursday that the Philippines is not going to experience economic recession this year because of the continuing growth in remittances and improving business confidence.
The Manila-based multilateral lender is set to revise its previous 2.5% growth estimate for the country but said the local economy will still post a growth, though minimal, this year. They did no
read more...
Princess Snell: Princess Tinkerbell Cristina Marjorie Pedere Snell, better known simply as Princess Snell (born on April 14, 1992 in Pacita, Laguna, Philippines), is a Filip...
Jose Miguel Arroyo: Jose Miguel "Mike" Tuason Arroyo (born June 27, 1946) is the husband of Gloria Macapagal-Arroyo, the current President of the Philippines and is the current Fir...
