The Department of Trade and Industry (DTI) remains bullish about the growth prospects of the country’s exports, investment inflows and the overall economy throughout the year until 2017, despite the continued weakening of the peso, reports Inquirer.net. “We have a good economic momentum and we’re hoping (the gross domestic product) growth will stay at 7 percent,” Trade Secretary Ramon M. Lopez said.
Four Southeast Asian countries (Myanmar, Philippines, Vietnam, Thailand) and two South Asia countries (Bangladesh and Pakistan) were included in the top 10 countries most affected by climate change in the past 20 years, according to German Watch’s Global Climate Risk Index, reports Rappler.
President Rodrigo Duterte on Saturday vowed to carry on the crackdown on illicit drugs, warning users to stay indoors or be killed, reports ABS-CBN News.
The Philippine peso weakened further for the 5th trading session to an 8-year low on Tuesday, November 22, due to the lack of fresh leads domestically and abroad, as well as intensified concerns over the United States' interest rate hike this December. The peso ended at P49.85:$1 on Tuesday, weaker than the P49.83:$1 on Monday, November 21, reports Rappler.
LONDON – Filipino-owned and operated Romulo Café was named the “Most Loved Restaurant in Kensington” at the third annual Time Out Love London Awards held on Thursday, Nov. 14 at The Bloomsbury Ballroom here, reports Inquirer.net.
The expected influx of cash remittances from Filipinos working and living abroad in December will shield the peso from further weakening before year-end, according to the research arm of Metropolitan Bank and Trust Co., reports Inquirer.net.
The Philippine economy grew by 7.1 percent in the third quarter of the year, the fastest among major Asian emerging markets, the National Economic and Development Authority said on Thursday. "This growth is above the median market expectation of 6.8 percent," a NEDA official said, reports GMA News.
The Philippines' fast growing business process outsourcing sector will have to push into higher value services--non-voice services, etc.-- in the face of US President-Elect Donald Trump's promise to increase trade barriers in a bid to bring jobs back to the US. The Philippines' BPO sector derives around 90% of its export revenue from the US market, reports Rappler.
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