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Economy

Economy vastly improved; no longer sick man of Asia

Economic officials and business leaders believe the country no longer deserves to be branded the “sick man of Asia” after its economy grew more than 6 percent for a third consecutive year.

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JFC backs Ejercito bill relaxing negative list

Foreign trade groups are backing efforts in Congress to open local investment houses to foreign capital. Investment houses are currently among sectors in local business that the Constitution restricts foreign capital to 40 percent at most.

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PHL seen a major beneficiary from oil price plunge to $40

The Philippines is considered among the biggest beneficiaries of falling crude which just recently passed a record low of below $50 per barrel. The low oil prices will support the growth momentum of the country that momentarily slowed down as a result of stalled public spending that was believed to be the backlash of a Supreme Court ruling that declared …

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Rationalizing incentives good economics but poor politics

Riza Lozada (Conclusion) “Rationalizing fiscal incentives is good economics’, but poor politics,” Diokno said. “Why can’t the Aquino III administration that is committed to the ‘straight path’, to doing what is right, do the right thing?” he asked.

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8990 books solid 74% profit growth to P1.02B

Mass-housing proponent 8990 Holdings Inc. booked a 74-percent increase in net income for the third quarter to P1.02 billion from P589 million a year ago on the back of a sustained 60-percent gross and a 45-percent net margin for the past three quarters. 8990 is traded in the PSE under the ticker name House.

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$2 gasoline: Good times keep rolling

Jonathan Fahey New York—At some point this will end, perhaps even soon. The price of gasoline will not fall to zero.

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PHL handicapped as Asean bloc starts

Riza Lozada (First of two parts) Overshadowed by the papal visit was the “birth” of the Association of Southeast Asian Nations (Asean) economic community, a bloc envisioned to be similar to the European Union, and which Philippines officials hope to put the country in equal footing with its neighbors in the association.

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Underspending remains a growth dampener—WB

Luis Leoncio Underspending in the government remains a spoiler to the Philippines’s economic growth momentum, according to the Philippines Economic Update that the World Bank (WB) released recently as the multilateral lender slashed growth projections this year to 6.5 percent from the previous 6.7 percent.

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