Displaying all posts for Economy

Strained Infrastructure in Philippines Erodes the Nation’s Growth Prospects

By Floyd Whaley/nytimes.com – Chris Ibasan travels only about five miles to work each day in one of Manila’s business districts, but it is often a grueling two-hour commute that gets him into the office late. “My manager understands,” said Mr. Ibasan, a 24-year-old shipping company employee. “Everyone is late; Read more »

PAL statement on Philippine Airlines and Etihad Airways launch landmark agreement

via gmanetwork.com – Philippine Airlines (PAL) and Etihad Airways today announced a strategic partnership agreement that marks a new era of cooperation between the flag carriers. The agreement covers codeshare flights, loyalty programs, airport lounges, joint sales and marketing programs, a Philippines domestic air pass, cargo, and the coordination of Read more »

No more barriers: Cebu Pacific to fly to Europe, US

via rappler.com – Budget airline Cebu Pacific of tycoon John Gokongwei Jr. is set to mount direct flights to the United States and Europe within the year. This after the US Federal Aviation Administration (FAA) removed the Philippines from its air safety blacklist, opening the door for local airlines Read more »

Philippines’ ‘Mirage’ Economy: Why It’s Worst Than a Bubble

By Richard Javad Heydarian/huffingtonpost.com – Recent weeks have been abuzz with a tantalizing debate over whether the Philippine economy is a bubble posing as a miracle. And to be fair, both sides of the debate have raised a number of interesting issues, which reveal the strengths and weaknesses of the Read more »

The Grim Reality Behind the Philippines’ Economic Growth

By Jillian Keenan/theatlantic.com – In a neighborhood of so-called “Asian tigers,” the Philippines has quietly emerged as the region’s newest economic darling. At 6.6 percent, the Filipino economy’s current GDP growth rate is the second highest in Asia, behind only China’s. That growth is projected to continue over the next Read more »

Kris Aquino tops BIR list of individual tax payers

By Danessa Rivera/GMANews – Kris Aquino paid the government P49.87 million in income tax for her 2011 earnings, making her the top individual taxpayer in the Philippines, more than P11 million more than the second highest tax payer, relatively obscure business executive Gregory Deane Reicho. The Sunpower Philippines vice Read more »