Top 5 Business News Stories in the Philippines You Should Know Today
The Philippine economy has been experiencing significant growth over the past year, with numerous developments taking place in the business sector. In this article, we’ll be taking a closer look at the top 5 business news stories in the Philippines you should know today.
Story 1: PSEi hits 7,000 points
The Philippine Stock Exchange Index has recently hit 7,000 points, marking a significant milestone in the country’s economic growth. With the country’s GDP predicted to grow by 6.2% this year, investors are showing increasing interest in Philippine businesses, leading to a surge in the stock market.
Story 2: PH included in JPMorgan’s Emerging Markets Bond Index
JPMorgan has recently added the Philippines to its Emerging Markets Bond Index, which is a significant achievement for the country. This move is expected to draw in more foreign investors, which could help boost the economy even further.
Story 3: More foreign businesses setting up operations in the Philippines
The Philippines has become an increasingly attractive destination for foreign businesses looking to expand their operations. In particular, the country’s BPO industry has been a major draw, with many companies setting up shop in Manila and other major cities.
Story 4: Philippine Tourism Continues to Grow
Tourism has been a major contributor to the Philippine economy over the past year, with the country recording a 75% increase in tourist arrivals in the first two months of 2021 alone. The government is ramping up efforts to promote the country as a prime tourist destination, with initiatives like the Visit the Philippines Again 2021 campaign.
Story 5: Infrastructure Development Continues
Various infrastructure projects are underway in the Philippines, with the government investing heavily in transportation systems, such as airports, seaports, and roads. This development is expected to not only improve the daily commute of Filipinos but also increase the country’s attractiveness to foreign businesses.
In conclusion, the Philippine economy is experiencing significant growth, with numerous developments taking place in the business sector. From the stock market surge and the inclusion of the Philippines in JPMorgan’s Emerging Market Bond Index to the growth of foreign businesses and tourism and continued infrastructure development, there is a lot of exciting news happening in the Philippines.
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