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ADB projects below-target 5.7% growth for the Philippines in 2023
The Philippines in 2023 is projected to post growth, measured as the gross domestic product (GDP), averaging lower than the official growth target of 6 to 7 percent to only 5.7 percent, according to the Asian Development Bank.
Ayala Land projects doubling profits over five years
Property developer Ayala Land Inc. has projected the doubling of its 2023 bottomline in five years or by 2028.
FDIs flowed inward over 10 months in 2023 but sharply lower to only USD6.5 billion
Foreign direct investments (FDI), useful both as a measure of and as vehicle for economic advancement, flowed inward on net basis in the first 10 months last year but stood 17.5 percent lower to only USD6.5 billion, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday.
Trade deficit widens in November on export drop
The Philippines’ trade deficit continued to widen in November as export sales drop sharply, negating the impact of flat imports, data from the statistics office showed Wednesday.
Government plans privatizing LRT 2, MRT 3 operations and maintenance in 2025
The Department of Transportation (DOTr) on Tuesday bared plans to privatize the operations and maintenance of Metro Rail Transit Line 3 and Light Rail Transit Line 2 as soon as the lease contract on one of them expires next year. Their proponents, the DOTr said, will be entertained through a bidding process.
