PH still 'fastest-growing emerging economy' in ASEAN

The Philippines continued to exceed expectations and remained the fastest-growing among emerging economies in the region, the government on Wednesday announced.

The country’s gross domestic product (GDP) expanded by 7.5 percent from April to June, faster than the 6.3 percent growth it posted in the same period in 2012, official data showed.

“We remain the fastest growing economy among emerging economies in the ASEAN region,” Socioeconomic Planning Secretary Arsenio Balisacan claimed.

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PH rated ‘most improved’ Asean nation by US firms

MANILA, Philippines—The Philippines has emerged as the “most improved” nation among members of the Association of Southeast Asian Nations (Asean) with American firms expressing increased satisfaction over the stability of the country’s political system.

Based on the Asean Business Outlook Survey 2014, satisfaction with the Philippines increased across 14 of the 16 business factors over the last five years. Dissatisfaction of US companies with the perceived corruption in the Philippines fell to 59 percent in 2013 from a high of 91 percent in 2003, while negative sentiments on the country’s infrastructure fell to 55 percent from 69 percent during the same period.

These developments, however, were not enough to propel the Philippines to be one of the most attractive countries for business. The survey showed that Singapore remained one of the most attractive countries in Asean to do business, while Indonesia, Vietnam, Thailand and Myanmar were favored for business expansion.

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Early indicators point to strong 2013 growth

Prospects for the Philippine economy remain bright with several key leading indicators pointing to the likelihood that the expected rapid growth in the first half would be sustained in the coming months.

According to the Bangko Sentral ng Pilipinas (BSP), healthy car sales and higher energy consumption were among the early signs that the economy would continue to outperform its peers in the region.

The Philippine economy grew 7.8 percent in the first quarter, beating even China, the region’s perennial growth driver. Economic Planning Secretary Arsenio Balisacan last month said the economy likely expanded by 7.5 percent in the second quarter.

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The Philippines best positioned against external shocks

Once the sick man of Asia, the Philippines is now one of the best positioned economies in the region to weather the current global economic turmoil.

As countries like India confront the dual challenge of slowing growth and high inflation, the Philippines signaled this week it's ready to cut rates further even though its economy is already among the fastest-growing in Asia.

"As inflation expectations remain well anchored, we foresee inflation over the policy horizon to be within target range," Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said Tuesday. "This provides the [central bank] room to make any further adjustments to policy stance if needed to address possible effects of changes in the growth trajectory of our main trading partners including the US, Japan and China, and shifts in investor sentiment that could adversely impact the prices of international commodities and capital flows."

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More property growth seen

ALL four segments of the domestic real estate market tracked by Colliers International are expected to continue to expand in the next three years as developers take their cue from a fast-growing economy, according to the consultancy.

However, despite the increase in leasable office properties, the demand for the premium and grade B segments reduced the CBD’s overall vacancy rate, which settled at sub-4.0%, Mr. Guevara added.

Businessmen must expect a rental rate increase between 5% and 7% in the second quarter of 2014, he advised, “as take-up is estimated to build up amidst the lack of appropriate space.”

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More Pinoys to pay more for goods from 'responsible' companies

MANILA, Philippines - More Filipinos are willing to pay more for goods and services from companies that have social impact, research firm Nielsen discovered in a survey.

Citing its Global Survey on Corporate Social Responsibility, Nielsen said seven of 10 Filipino consumers are willing to pay more for what those "socially responsible" companies offer, increasing by three points from 2011 results on the same survey.

"The positive view of Filipino consumers towards corporate social responsibility runs high. In order to continue getting the support of consumers, authenticity is key.," Nielsen Philippines managing director Stuart Jamieson said in a statement.

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PH is Asean’s main economic engine

The Philippines is now Southeast Asia’s main economic engine, fueled by strong domestic demand, to lead the rest of the region ahead of Asia this year, rating firm Standard & Poor’s (S&P) said.

While growth across Asia will continue to be dragged by worsening economic conditions in China and the tepid recovery in the US and Europe, S&P said in a report this week that strong domestic demand would allow Southeast Asia’s major markets to fare better than their trade-dependent peers.

S&P said Indonesia, Malaysia, Philippines, Singapore and Thailand were expected to grow collectively by 5.5 percent this year. This is faster than the rating firm’s 5.3-percent growth forecast for Asia Pacific as a whole.

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Philippines has displaced Indonesia as Asean economic leader -- S&P

MANILA - The Philippines is now Asean's undisputed economic leader, according to Standard & Poor's (S&P).

“The Philippines, which Standard & Poor's recently upgraded to investment grade, has taken over the Asean growth leadership role from Indonesia,” S&P Asia Pacific chief economist Paul Gruenwald said in a new report released Monday.

Gruenwald said the Philippine economy would grow by 6.9 percent this year, faster than other Asean economies.

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Stanchart cites Southeast Asia’s ‘outperformers’

THE PHILIPPINES and Indonesia will continue to lead growth in Southeast Asia, a visiting Standard Chartered Bank official said.

“We have been quite positive on the Philippines for quite some time now, and we still are very positive...In terms of growth, we think ASEAN (Association of Southeast Asian Nations) region will be an outperformer, and in the region, our top two picks will be Philippines and Indonesia,” Marios Maratheftis, the bank’s global head of market research, told reporters in a briefing at The Peninsula Manila yesterday.

Mr. Maratheftis said while the bank continues to hold a gross domestic product (GDP) growth forecast of 6.9% for the country for this year -- as well as 6.3% and 7% for 2014 and 2015, respectively -- the Philippines appears poised to grow faster in the years to come.

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'Apprentice Asia' winner Jonathan Yabut wears Pinoy pride on his sleeve

Despite the rush to Clark airport for his flight to Malaysia for another taping of “The Apprentice Asia,” 27-year old Filipino marketer Jonathan Yabut just felt the need to buy a small pin of the Philippine flag.

Yabut’s desire to make a seemingly trivial last-minute purchase puzzled his father, who did not quite understand what he would do with it.

“I told my dad, ‘Pa, we really need to buy this pin because I need to wear it in the boardroom,’” Yabut said.

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Investment commitments up 39% to P301B

Total investments approved by four major investment-promotion agencies hit P300.9 billion in the first half of the year on the back of increased investor confidence in the Philippines.

This was an increase of 39 percent from the P216.9 billion worth of investments registered in the same period last year by the Board of Investments (BOI), the Philippine Economic Zone Authority (Peza), the Subic Bay Metropolitan Authority (SBMA) and Clark Development Corp. (CDC), according to documents provided by the Department of Trade and Industry.

The investments registered with the four agencies in the first half of 2013 are expected to generate 77,892 more jobs.

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'Phl could grow beyond 8% in 2015'

MANILA, Philippines - The Philippines could begin growing by more than 8 percent in 2015 and sustain that even onto the next administration given the correct policies and strong fundamentals driving investor confidence now, an investment bank said. 

“There is no reason why the Philippines could not start growing faster than China,” Marios Maratheftis, global head of macro research at Standard Chartered Bank said in a briefing on Thursday.

“The country is moving into the right direction. There is no reason why the Philippines will not grow by 8 percent plus by 2015,” he added. 

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