The amount of migrant-worker remittances passing through informal channels tops those passing through the banks by a wide margin, estimated at some 30 percent to 40 percent by the Asian Bankers Association (Aba).
This was revealed at the conclusion of the meeting of Aba member-countries held at the Shangri-La Hotel on Tuesday, in which issues of common concern like the financial integration by 2020 were discussed, among other things
Thursday, 15 November 2012
Wednesday, 14 November 2012
The Philippines’ 22.8-percent jump in exports in September was the best among East and Southeast Asian countries for the period, the National Economic and Development Authority said on Tuesday.
The Philippines emerged on top of countries in the region that posted positive exports growth, which includes Hong Kong (15.8 percent), Vietnam (15.6 percent), Taiwan (10.4 percent), China (9.9 percent), and Thailand (0.2 percent).
“The strong export performance mainly reflected the moderate improvement in global economic activity as industrial production and business confidence indicators showed signs of recovery,” said NEDA deputy director general Emmanuel Esguerra.
Other countries reported a decline in exports in September, with Japan recording the steepest fall (-11.8 percent), followed by Indonesia (-9.4 percent), Singapore (-4.8 percent), and South Korea (-2.0 percent).
Esguerra also said that the Philippines is also one of four countries in East Asia and Southeast Asia to have posted positive exports growths in the first three quarters of the year. With 7.2-percent growth for the period mounting to $40.1 billion, the Philippines follows Vietnam (18.3 percent) and China (7.4 percent). Hong Kong's exports grew 1.8 percent in the first nine months to September. — BM, GMA News
LONDON—The Philippines is a “hugely exciting” market where the United Kingdom is keen on boosting reciprocal investment.
Key trade officials here bared this bright outlook, noting that the UK was setting its sights on Southeast Asia as a priority growth area amid the continuing dim prospects in Western economies.
They said the UK hoped to step up trade with growing markets to combat a general sense of pessimism over economic numbers here and in the euro zone.
Nick Baird, chief executive of UK Trade and Investment (UKTI), the state body that links UK firms to the global market, said that British firms were looking at ways to tap the Philippines’ robust economy and invest in major infrastructure, health care and retail-related projects.
“I think that for us, the huge opportunities there are certainly around big infrastructure projects, health… We’re also very interested in areas I would describe as building on and working with countries’ growing middle classes, so [it’s about] providing better education, health services, accessing the consumption of these middle classes through the retail sector,” Baird told Asean reporters on a visit here.
The Philippines is becoming more popular for international investors.
Manila's stock market was the Asia region's best performer in 2011, and it is doing well this year too.
The BBC's Kate McGeown spoke to Hans Sicat, president of the Philippine Stock Exchange and asked him what was driving investor sentiment in the country.
Posted Wednesday, November 14, 2012
Monday, 12 November 2012
BBC News, Philippines
The Philippines is fast becoming the world's low-cost English language teacher - with rapid increases in overseas students coming to learn English or study in English-speaking universities.
There might be other countries that people think about as a classic place to learn English, such as the UK, the US or Australia.
But there is one key reason that they are switching to the Philippines. It's much cheaper. And in the competitive market for language students, it means the Philippines is attracting people from countries such as Iran, Libya, Brazil and Russia.
"We have very competitive rates compared with other countries," says English teacher, Jesy King, citing her school's fees of $500 (£313) for a 60-hour class - about a third of the price of an equivalent course in the US or Canada.