Local Financial Markets Rolls Into Records

Yesterday, the investors’ sentiment pushed the peso and stock markets into high while the Treasury bill rates get too historic lows. Local economies got its strength and have its strong performance to have its confident back in developing the nations to solve the debt problems.

The benchmark of Philippine Stock Exchange was closed to 27.08 points or 0.5 percent higher at 5,579.42 yesterday as a new all-time high. Considering the immediate basis of investor’s confidence, the PSEi hit the records high with a total of 29 times in this year on 30 companies.

Bright Prospects Ahead for Philippine Agribusiness

The last ten years has been crucial to the development of agricultural and rural infrastructure in the Philippines. The country now boasts a nautical highway which has significantly eased the transport of agricultural products from the island of Mindoro to other parts of the country. A number of modern highways and road systems have also been built to connect the areas of Clark, Subic, and Tarlac in Central Luzon, all major trading areas, thereby making it easier for farmers living in these locales to transport their goods to Metro Manila. These and other developments, coupled with the increasing popularity of agribusiness in the Philippines, has led to the development of the country’s agricultural industry, as well as to a significant increase in agricultural profits.

Public-Private Partnerships to Boost Philippine Economy

by: Jason dela Torre

In a bid to renew investor confidence and create more job opportunities to bolster the Philippine economy, President Benigno Aquino III is expected to pursue public-private partnerships in the financing and construction of key government infrastructure projects. The Aquino administration believes that public-partnerships are crucial to reducing the Philippines’ growing budget deficit, and ensuring the financial mobility of local governments in setting up infrastructure projects geared toward the overall improvement of their respective communities. Aquino is optimistic that in spite of his government’s lack of funding, their economic goals will be achieved through the institution of public-private partnerships in different sectors.

OFW Demand Stabilizes Philippine Economy

Manpower resources are one of the Philippines’ greatest exports. Presently, over eleven percent of the population are employed as Overseas Filipino Workers (OFWs) and Filipino communities are found in almost every industrialized nation in the world. The OFW diaspora regularly injects dollars into the economy in the form of remittances from Filipino professionals working abroad sending money home to their families. This has assisted the Philippine government immensely, and kept the local economy afloat.

Online Gaming Boosts Philippine Economy

Fueled by advancements in computer technology, the Online Gaming industry has become one of the biggest moneymakers in the Philippines today. As responsible online gaming becomes an accepted form of recreation or diversion for a number of Filipinos, the annual profits of online casinos, bingo and sports-betting companies keep increasing at a tremendous rate. PhilWeb, one of the largest online gaming companies in the Philippines today, posted a profit increase of 52% in the first quarter of 2010 alone. Company revenues also rose by 42%, totaling to about Php 239 million. The number is still expected to double, even as the year progresses.