Japan unexpectedly slips into recession, Germany now world’s third-biggest economy

02/15/2024

TOKYO (Reuters) -Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world’s third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its…

Tech-savvy families drive PH leisure spending surge

Ian Nicolas P. Cigaral 02/15/2024

The increasing number of tech-savvy families in the middle and upper-income brackets is boosting the demand for leisure items in the Philippines, said BMI, a unit of the Fitch Group. This trend is expected to benefit the…

JC Go Global Kick Off 2024: Elevating success with the emergence of 42 new millionaires

CDN Digital 02/12/2024

With over 3,000 guests at the Metrotent Convention Center in Pasig City on January 7, 2024, JC celebrated an important milestone while showcasing a wide range of accomplishments from the previous year. The event was hosted by…

PSEi surges with strong foreign buying ahead of Lunar New Year break

Miguel Camus 02/09/2024

MANILA, Philippines —The Philippine Stock Exchange Index (PSEi) rose on Thursday due to strong foreign buying ahead of the long weekend. By the end of trading, the PSEi went up by 0.29 percent (20.12 points) to reach…

GCash IPO delayed as parent firm assesses market conditions

Tyrone Jasper C. Piad 02/08/2024

MANILA, Philippines  —Investors are waiting for GCash to join the local exchange. However, its parent company said that they are still reviewing the market before deciding to launch an initial public offering (IPO). The company had initially planned…

PH economy to grow 6.2% in ’24 buoyed by strong consumer spending

Ian Nicolas P. Cigaral 02/05/2024

The Philippines’ consumption-driven economy is expected to benefit from a mix of lower inflation and a strong job market, according to BMI, a unit of the Fitch Group. Using 2010 as the base year, BMI is projecting…

Why planned power boost to Cebu Island welcomed and needed

02/03/2024

MANDAUE CITY, Cebu — A business leader in Cebu’s industrial and logistics hub welcomes a firm’s plan to give the island a power boost with its planned expansion and construction of its power facilities. Mark Ynoc, incoming…

PH sees 20% surge in vehicle production in 2023

Alden M. Monzon 02/02/2024

MANILA —The Philippines increased its vehicle production last year by almost 20 percent, reaching a total of 110,350 new units. Among the Association of Southeast Asian Nations (Asean), only two countries, including the Philippines, saw a rise…

Marcos faces economic setback: 2023 growth plummets to lowest levels since 2011 

Ian Nicolas P. Cigaral 02/01/2024

MANILA, Philippines —The Marcos administration fell short of its growth goal last year due to significant inflation, resulting in a 5.6 percent gross domestic product (GDP) growth in 2023. This marked a slowdown from the 7.6 percent…

Investors told: Keep cash amid US recession fears

Miguel Camus 01/30/2024

MANILA, Philippines —A top stockbrokerage in the country advises investors to keep cash amid US recession fears, despite the Philippines’ strong economic growth bouyed by easing interest rates and inflation. COL Financial Group chief equity strategist April…

Near-target 2023 GDP growth acceptable amidst economic challenges – Neda chief

Ian Nicolas P. Cigaral 01/29/2024

INQUIRER/ MARIANNE BERMUDEZ MANILA, Philippines — The country’s chief socioeconomic planner, Secretary Arsenio Balisacan of the National Economic and Development Authority (Neda), said that a 2023 economic growth slightly lower than the previous year’s 7.6 percent but near…

PH records four-month low trade deficit in Dec 2023

Ian Nicolas P. Cigaral 01/27/2024

MANILA —The Philippines experienced its smallest trade deficit in December 2023 in four months, as exports saw a slight decrease and imports turned negative. The country’s trade balance shifted to a $4.01 billion deficit, marking an 11…

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