It’s hard enough to sift through all the noise, especially trying to get news about South East Asia living in the United States. You barely will get news catered to news events on U.S. CNN or MSNBC. So, I’ve decided to make “The Brighter Side” series of posts. These future posts will showcase the positive and optimistic views of the Philippines as I will share news articles and posts as I find them on the Internet from various news organizations that cover the Philippines.
The Philippines may have lost Obama, whose visit to the country has been cancelled in light of the government shutdown, but it has gained something likely to be more valuable over the long term: a third upgrade to investment grade.
Yesterday Moody’s Investors Service lifted its rating on the Philippines one notch from Ba1 to Baa3. In doing so, it followed Fitch and Standard & Poor’s in elevating the
country the most decisive step of all, from junk to investment grade.
PHILSTAR – Phl exports in Aug seen posting 14% growth
Merchandise exports are expected to have risen 14 percent in August, possibly its highest level this year, due to a low base in the same period in 2012.
“Exports likely to fall month-on-month, but to rise sharply year-on-year owing to a low base,” UK-based Barclays said in its The Emerging Markets Weekly report published late Friday.
Outbound shipments summed up to $4.836 billion in July, 2.3 percent higher than its level in the same month last year. The growth pace slowed from the 4.1 percent expansion seen in June, already the fastest seen by the country during the year.
ABSCBN NEWS – WB raises PH growth forecast, cuts most of East Asia
The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia on Monday, citing slower growth in the world’s most populous nation as well as weaker commodity prices that have hurt exports and investments in countries such as Indonesia.
As for the Philippines, investments slowed in the second quarter after a strong first three months of the year. But remittances from Filipinos working abroad boosted consumption, which contributed three-fourths to growth in the April-June.
The World Bank expects the Philippines to grow by 7.0 percent this year, much faster than the April forecast of 6.2 percent. For 2014, the economy would probably expand by 6.7 percent, better than the previous estimate of 6.4 percent.
Don’t be surprised when more electric tricycles or e-trikes start plying the streets of your hometown one of these days.
The Department of Energy (DOE) is preparing to roll out the first phase of its electric tricycle program, which aims to replace 100,000 of the estimated 3.5 million gasoline-powered tricycles across the country.