Business

Economist Group sees RP growth at 4.3%

Thursday, 09 October 2008 08:35 Lawrence Casiraya/Inquirer.net

MANILA - Economic growth in the Philippines is expected to fall to 4.3 percent this year and 4.2 percent in 2009 amid a global credit crisis, complicating efforts to arrest the country's slide into deeper poverty, The Economist Group said Thursday.

Economic growth spiked to 7.2 percent last year, the highest in 30 years, building up from a five-year period.

RP Food, fuel prices remain stable

Monday, 06 October 2008 05:55 Joel Guinto/Inquirer.net

MANILA - Amid the continuing global economic crisis, President Gloria Macapagal-Arroyo has assured the people that the government has been “working hard” to ensure that food and fuel prices remained stable to “avoid demands for a wage increase” but at the same time to “keep you competitive.”

"We've been working hard to make sure food supplies remain stable and to put food on the table for every Filipino in order to avoid demands for a wage spiral and therefore keep you competitive," Arroyo said in a speech during the Semiconductor and Electronics in the Philippines Inc. (SEIPI) chief executive officers' forum in Malacañang on Monday.

RP exports to Taiwan up

Sunday, 05 October 2008 06:08 Ronnel Domingo/Inquirer.net

MERCHANDISE EXPORTS TO TAIWAN grew by 8.6 percent to $1.4 billion in the seven months to July amid continued interest of Taiwanese investors in the Philippines as a choice destination in Southeast Asia.

Latest data from Taipei’s Government Information Office show that the value of shipments from the Philippines during the seven-month period increased from about $1.29 billion in the same period last year.

Recto bats for stronger peso

Thursday, 02 October 2008 05:35 Doris Dumlao/Inquirer.net

MANILA - Socioeconomic planning chief Ralph Recto is worried about the peso's sharp weakening against the US dollar in 2008, saying the local economy would benefit from a stronger domestic currency.

But because inflation in the country had likely peaked, Recto said there was pressure for the central bank's interest rates to go down even if the peso was depreciating.

RP braces for effects of US financial

Tuesday, 30 September 2008 04:27 Joel Guinto/inquirer.net

MANILA - Monetary authorities are working hard to maintain fiscal stability and shield the public from shock waves after the US Congress shot down a $700-billion bailout, President Gloria Arroyo said Tuesday.

Arroyo said she hoped the US legislature would reverse its vote and agree to the plan to buy up a mountain of bad debts that has led to a collapse of investment banks.