Property developer Cebu Landmasters Inc. (CLI) returned to a positive earnings growth path in the first quarter, outperforming the year-ago level even as the impact of the COVID-19 pandemic had yet to be fully felt in the comparative period. CLI, a leading developer in Visayas and Mindanao (Vis-Min) area, grew its attributable first quarter net…
The Philippines’ trade in goods with the rest of the world rose 5 percent year-on-year to in the first quarter of the year amid an overall recovering global economy from last year’s pandemic-induced recession. The latest preliminary Philippine Statistics Authority (PSA) data showed that merchandise exports from January to March grew by 7.6 percent year-on-year…
BORONGAN CITY, Eastern Samar—As the province has been able to keep COVID-19 cases to a minimum, some municipalities and this capital city have started to reopen their doors to leisure travelers, albeit just from the province for now. Borongan Mayor Jose Ivan Agda has allowed the opening and resumption of activities of local attractions…
The Philippine economy is well positioned for a sharp rebound after the coronavirus pandemic, thanks to structural reforms implemented after previous crises, especially in the banking system, according to the country’s chief financial regulator. In particular, Philippine banks are strong enough to weather the downturn brought about by the COVID-19 crisis due to their sufficient…
Recovery from the pandemic-induced recession will entail not only fast-tracking mass vaccination and sustaining infrastructure development but also some more additional reforms pushed by President Duterte’s economic team on Monday. Finance Secretary Carlos Dominguez III told the virtual forum that earlier reforms put in place by the Duterte administration eased COVID-19’s impact on the Philippine…
Technology giant Microsoft Corp. said over benefited from its digital skills training program during the COVID-19 pandemic. Launched last year, the initiative reached over people from and involved online courses from GitHub, LinkedIn and Microsoft in the areas of customer service, project management and data analysis. “Skills will be the new currency in the postpandemic…
The country’s oldest conglomerate Ayala Corp. has contributed a total of P13.1 billion so far in the intervention efforts against the COVID-19 pandemic, more than half of which were from its property crown jewel Ayala Land Inc. (ALI) “With the steady rollout of our ambitious national vaccination program, of which the Ayala group and especially…
The Board of Investments (BOI) saw a 66-percent increase in investment commitments from January to March to P138 billion from P83 billion in the same period last year, a top official said in a recent online briefing with Chinese companies, as he encouraged firms that were already in the Philippines to expand and diversify their…
While most other multilateral institutions had slashed their respective 2021 gross domestic product (GDP) growth forecasts for the Philippines, the Washington-based International Monetary Fund (IMF) even raised its projection to 6.9 percent from 6.6 percent previously.The IMF’s April 2021 World Economic Outlook (WEO) report also projected a 6.5-percent GDP growth next year which , however,…
The Philippine economy contracted by 9.5 percent in 2020, the country’s worst performance since World War II. Colliers believes that the successful rollout of the COVID-19 vaccine will play a crucial role in the country’s economic recovery. The government-projected economic recovery in 2021, albeit slow, will likely support the growth of the property sector. We…