By : JUN B. VALLACERA, click here for original article.
Investment activities
in the Philippines as percent of local output or gross domestic product
(GDP) have fallen sharply lower to only around 20 percent of GDP the
past decade from some 30 percent of GDP in the 1970s, the Manila unit of
the World Bank reported on Friday.
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by Kathleen A. Martin, ABS-CBNnews.com
Posted at 03/27/2013 2:44 PM | Updated as of 03/27/2013 9:30 PM
MANILA (2ND UPDATE) -- The Philippines got its first long-coveted
investment-grade rating on Wednesday, as Fitch Ratings gave the country a
'BBB-' with a stable outlook.
An investment grade status opens up the country to more investments
that can lead to additional jobs and funds for infrastructure, and help
create sustainable economic growth.
"The Philippine economy has been resilient, expanding 6.6% in 2012
amid a weak global economic backdrop. Strong domestic demand drove this
outturn," Fitch said in a statement. (For the full statement, click here.)
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