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Home > Philippine News > Philippine Business News Philippine Business NewsTrade. Investments. Outsourcing.Select Philippines brings you the relevant Philippine business news and updates: trade, investments, outsourcing and more...Philippine Business News : May 2006Saudi Arabia to Invest $1 Trillion in the PhilippinesSaudi Arabia expressed interest in investing US$ 1 trillion in tourism and oil refinery opportunities in the Philippines. Find out more... Philippine Exports Grew by 25.8% in March Philippine exports reached US$ 4.1 Billion in March, 25.8 percent higher than last year and significantly higher than last month's 14.9 percent growth. Find out more... Philippine Business News : April 2006Philippines Jewelry Products in High Demand among European BuyersThe Philippines received signficant volume of orders and buyer inquiries from European retailers and direct importers during Vicenza Oro, an international jewelry exhibition held in Vicenza Italy. Find out more... Manila FAME Unveils New Export Designs Manila FAME International Show. Over 468 exporters offering Philippine furniture, home furnishings, home decors, fashion accessories will showcase their new export products and designs in Manila FAME. Find out more... Mandaue City : Cebu's New Economic Driver Mandaue City, a long-time business hub of Cebu, continues to attract investments and will soon become the "foyer of mainland Cebu" with the construction of the Cebu International Convention Center. Find out more... Philippine Outsourcing Industry Expected to Hit $12.2 Billion by 2010 With the continued global push for outsourcing, the Philippine outsourcing industry projects to employ 920,764 employees and deliver $12.2 billion in revenues by 2010. Find out more... China Apparel Firm Sets Up Facility in Cebu Philippines Yuen Thai, a China-based apparel manufacturer and exporter, established Yuen Thai Philippines in Mactan, Cebu Philippines and aims to be the largets supplier for Adidas worldwide. Find out more...
Philippine Business News : March 2006Philippines exports increase 9.8% in February due to strong overseas sales of electronics and computer parts, which account for 67% of Philippine exports. Find out more... Philippine Government Supports Call Center Boom Philippine President Gloria Arroyo ordered 100,000 scholarships to support the growing demand for skilled Filipino professionals in the call center industry. Find out more... GenPact to Set Up Centers in the Philippines, Poland Business Process Outsourcing giant GenPact, formerly known as GE Capital International Services, will set up two global service delivery centers in the Philippines and Poland this year. It expects to hire a total of 3,000 BPO professionals. Find out more... Studies to Boost Success of Virgin Coconut Oil Ateneo Manila University together with the Philippine Department of Science and Technology are conducting studies on virgin coconut oil to boost its competitiveness and success in the world market. Find out more... Philippine Economy Continues to Rise The Philippine Economy continues to make significant progress - foreign investments are up, Philippine peso is one of the strongest performer in the region, the Philippine stock market has reached all time high. Read more... Philippines Coconut Exports Jump by 60% The volume of coconut exports from the Philippines increased by 59.5% in January, equivalent to 179,000 metric tons of copra, due to...Read more... Outsourcing Growth Gives Rise to Build-to-Suit Real Estate Deals With the continued growth of outsourcing in the Philippines, outsourcers with large space requirements are increasingly developing build-to-suit buildings outside of Metro Manila, and in the provinces. Read more... Dell to double its Philippines call center operations Michael Dell, founder and chairman of Dell Inc., announced its plans to increase its Philippines call center workforce to 1,400 from the original target of 700. Read more... Philippines Halal Exports Expected to Reach $400 M The Islamic Da'wah Council, a local halal-certfying body, expects the Philippines to hit its $400 M target for halal export products to Malaysia, Indonesia and other Middle Eastern countries. Read more... Philippines' Balance of Payment Surplus Hits Record-high Levels The Philippines' balance of payments (BOP) surplus rose to $2.029 billion during the first two months of the year, due to high dollar inflow and dollar proceeds from the government's global and euro-bond issues. Read more... Positive Economic Indicators to Further Boost Investor Confidence Philippine government expects investor confidence to further improve with stronger peso, lower budget deficit, increased revenue collection and bullish stock market. Read more... PEZA Investments by 27.5% Foreign investments registered with PEZA (Philippine Economic Zone Authority) increased by 27.5% for the first two months of this year due to expansion projects by existing locators. Read more... Gaming Industry Eyes Filipino Animators With the rapid growth expected in the global gaming industry, Filipino animators are urged to get into game development. Read more... Philippine Business News : February 2006Cebu Furniture Subcontracting Sector Vital to Export Growth Cebu furniture industry, which contributes 40% to the Philippines' total furniture exports, is urged to strengthen its subcontracting sector to achieve further export growth. Fitch Gives Philippines Positive Ratings Fitch gives the Philippines "stable ratings" recognizing the country's improved fiscal outlook brought about by increasing business confidence. Siemens Inc. Launches Call Center in the Philippines Siemens Inc, a German conglomerate, opens its first call center in the Philippines and expects to employ 700 people by the end of the year. Philippine Outsourcing Benefits from Filipino Expat Investment Philippine outsourcing received a boost from an overseas Filipino professional who has come back to the country and invest in Davao City, Mindanao. Philippines Sugar Exports to US to Double Shipments of Philippines sugar to the United States is expected to double in 2006. Philippines is the third largest supplier of sugar to the US. Philippine Business News : January 2006Cebu Philippines - Global Center for CarrageenanCebu is now the home of the world's processing center for raw seaweed into carrageenan, accounting for 61% of the world's seaweed processing capacity. Philippine Economy Exceeds Target The Philippine Economy surpassed its highest forecast in 2005 as the country's Gross Domestic Product (GDP) grew by 5.1 percent, despite... Philippine Manufacturing Growth on Target Philippine Socio-Economic Planning Secretary Augusto Santos expects the Philippine manufacturing output in 2005 to come within its forecast range of 4.5 to 5.4 percent. Splash to build processing plant for European market Splash Holdings Inc. (SHI) plant to manufacture health and personal care products for promising European and American markets. Philippine Call Center Acquires U.S. Transcription Firm PeopleSupport Inc., a leading Philippine call center operator, acquired Rapidtext Inc., a US transcription services for about US$ 10 million... Philippine Stock Exchange: 2nd fastest growth rate in Asia The Philippine Stock Exchange grew by 15% in 2005, ahead of Singapore, Thailand and Malaysia... Malacanang vows to keep Philippine economy growing in 2006 Malacanang Palace said that the Philippine economy grew at a "respectable pace" in 2005 and that it is bent on sustaining its economic growth in 2006. The Philippines' New Gold Rush Mining companies have long known that the Philippines is one of the most mineral-rich countries on earth. The recent Supreme Court ruling puts the country squarely back on the world mining map. Philippine Business News : December 2005Subic Bay (SBMA) welcomes P1.6 Billion in fresh investmentsThe Asian community commits P1.6 Billion in investments to SBMA (Subic Bay Metropolitan Authority) for new projects and expansion programs... Jollibee Philippines gets approval for Regional Headquarters Jollibee, the largest fast-food chain in the Philippines, will begin operations of its regional headquarters in the country early next year. 2005: A Good Year for Philippines Davao Region Foreign businesses have been bullish in putting businesses in Davao Region, which has experienced an influx in investments and tourism projects. Philippine peso appreciates by nearly 6% peso has appreciated by 5.7 percent since the beginning of the year, and has shown lower volatility compared to other Asian currencies. Philippine Stocks Exchange posts world's fastest growth rate The Philippine Stocks Exchange (PSE) posted the world's fastest growth rate in terms of value turnover, according to a report by the World Federation of Exchanges (WFE). Philippines Investor Relations Rated World's No.1 by International Body The Philippines investor relations program was ranked as No. 1 among thirty other emerging countries surveyed and reviewed by the Washington-based Institute of International Finance (IIF). Philippines sees higher mango exports The Philippines expects to increase its mango exports with the use of new CAT technology that will extend product's shelf life and quality. Oil exploration investments reach $200 M The Philippines secured $200 Million worth of oil exploration investments this year, a significant increase vs. the $40 Million investments in 2004. Philippines expects mining investments to hit $502 Million The Philippine government raises its forecast for mining investments given renewed investor confidence and increase in capital inflow. Texas Instruments and Moog Controls expand Philippine operations Texas Instruments Philippines Inc. and New York-based Moog Controls Corporation are expanding operations inside Camp John Hay, Baguio City. Japanese investors eye Mindanao Several Japanese companies expressed keen interest in the tourism and investment opportunities of Mindanao Philippines. Philippine Business News : November 2005Philippine Mangosteen Products enter the US Market The Philippines Department of Trade and Industry (DTI) announced that initial shipments of mangosteen products - fruit jam, tea and powder - from Kidapawan City have penetrated the United States market. Philippines foreign investments at $2.1 Billion The net inflow of Philippines foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) from January to November 4 reached US $ 2.1 billion, over seven times the amount posted in the same period last year. Philippines, China sign $763 Million investment and import-export deals Phlippines and China signed a US$763 million investment and export-import contracts during a two-day visit to the Philippines by the Guangdong officials. First call center in Ilocos Region debuts in Dagupan City The first call center in Ilocos region opened in Dagupan City, Pangasinan to join the growing number of call centers in the Philippines. Philippines soon to lead in global BPO industry The Philippines BPO industry, with its proficient English speakers with professional experience, is expected to overtake India in the coming years.... Research shows Palawan has vast nickel ore deposits Palawan Philippines has a large deposit of nickel ore totaling about 414 million tons, according to a recent research conducted by the Kilusan Love Malampaya (KLM) and.... Philippines President underscores investors confidence on economy President Arroyo underscored the renewed confidence by investors and the foreign financial markets in the Philippines economy resulting from.... Philippine Business News : October 2005Merill Lynch upgrades Philippines economic outlookMerill Lynch upgraded the Philippines economic outlook for 2006 to "overweight" status. Philippines electronics exports expected to grow 10% Philippines electronics exports are prohected to deliver double-digit growth in 2006, backed by strong demand for semiconductors components. Five9 bares plan to expand operations in the Philippines The California-based Five9, a global leader in hosted call center solutions, is planning to expand its operations and generate 90,000 more jobs in the Philippines. Philippines expects manufacturing sector to expand by 4.8% in 2005 Philippines manufacturing sector is seen to grow by at least 4.8 percent in 2005, propping the government's gross domestic growth (GDP) target of at least 5.3 percent for the same year. Manila will host the 2005 World Congress of Financial Executives Finance and economy experts from around the world will converge in Manila Philippines for the 2005 World Congress of Financial Executives scheduled from December 4 to 7 at the Makati Shangrila Hotel. Philippines economic reforms boost foreign investments Foreign investments in the Philippines for the first seven months of 2005 have reached half a billion US dollars and have helped create 900,000 jobs... IBM opens Business Transformation Outsourcing Center in the Philippines IBM Philippines a second Business Transformation Outsourcing (BTO) hub in Quezon City Philippines, to deliver services in eleven languages to multinational companies in 65 countries. Philippines targets higher value-added business process outsourcing jobs The Philippines targets higher value-added business process outsourcing jobs in the United States to further strengthen its presence in the global outsourcing market. Philippines coconut export seen to rise in 2005 Philippines coconut oil exports are projected to increase by two percent due to higher-yielding varieties and... Philippine Business News : September 2005Credit Suisse Raises Philippines GDP Growth ForecastCredit Suisse First Boston has raised Philippines GDP (gross domestic product) (GDP) growth forecast for 2005 to 4.7 per cent from 4.4 per cent, citing stronger growth in the second quarter of the year and resilient private consumption growth seen in the second half of the year. Davao's Dried Seaweeds Output Leaps 780% Production of dried seaweeds in Philippines' Davao Region jumped almost eight times higher or 780 per cent in just two years from an average 230 tons production in 2002 to 1,800 tons in the first half of the year. Convergys expands Philippines call center operations Convergys Corporation, the world's largest provider of outsourced customer care services, has just set up its 7th integrated contact center in Quezon City, Philippines. Philippine exports to hit target of $44 Billion Philippine Exporters Confederation sees brighter prospects in the local export industry, with agricultural exports gaining ground while major export electronics continue to be strong... Rise in Philippines July exports due to electronics exports: NEDA Philippines July exports increased by 11.4 percent, a significant improvement from the 1.0% growth experienced from the previous month primarily due to... Singaporean Firm Eyes Locating in Philippines' Cebu While still in its pre-operation phase, Cebu South Road Properties (SRP) is already attracting companies, including All Asia Holdings Ltd., which plans to set up a manufacturing facility in the area. Philippines net 'hot money' inflow passes $2Billion Philippines net "hot money" inflow hits $2.007 billion as of Sept. 2 this year, 14.4 times the $139.1-million net inflow recorded in same period last year... Philippines cites accomplishments under President Arroyo The Medium Term Philippine Development Plan (MTPDP) 2004 - 2010 set by President Arroyo is hailed as "one of the best, if not the best" by Dr. Jeffrey Sachs, a famous economic expert... Philippine IT companies set sights on e-services projects in Japan Philippine IT firms aim to increase their market presence in Japan's e-services sector. Japanese information technology (IT) services spending is projected to hit the US$120-billion mark in 2008... Philippines Posts Budget Surplus, Expands Sales Tax (Update3) The Philippines had a budget surplus in August and the government said it plans to extend sales taxes next month, improving the prospects for a higher credit rating. Philippine Business News : August 2005Philippines' Q2 GDP Growth Rate the 4TH Fastest in SE AsiaYahoo! Australia & NZ Finance - Aug 29, 2005 Statistics The Philippines posted the fourth fastest growth in gross domestic product (GDP) in all of all Southeast Asia in the second quarter of 2005, beating Malaysia, South Korea and Taiwan. Philippine GDP Growth Accelerated to 1.4% in 2nd Qtr (Update4) The Philippine economy grew in the second quarter at the fastest pace in more than a year as improved harvests and record remittances from overseas workers helped spur consumer spending. Philippines Call Center Industry To Grow 50%-70% In 05 According to PeopleSupport's President, Bong Borja, the Philippines Call center industry is expected to grow seat capacity by 50% to 70%, equivalent to 72,000 jobs. More Japanese investors eye Philippines zone More Japanese companies are expressing interest in locating in the Subic Bay Freeport Zone while some existing locators are planning to expand operation as a sign of satisfaction with the economic agenda of President Gloria Macapagal Arroyo. Japanese investors bullish on the Philippines Expectation for higher earnings among Japanese investors in the Philippines remains one of the highest in Southeast Asia, latest results of the Japan External Trade Organization (Jetro) survey show. Manila clears first big foreign copper-gold mining project The Philippines gave the go-ahead on Monday for Australian firm Climax Mining Ltd. to start commercial production at a copper-gold project, the first large-scale mining venture fully funded by foreign investors. Philippines explores alternative sources of renewable energy With the looming oil crisis, the Philippines taps into its abundant renewable energy resources such as sun, wind, biomass, and geothermal energy to reduce its dependence on fuel oil. Sustained growth raises Philippines' SM Investments earnings Philippine conglomerate SM Investments Corp said quarterly earnings climbed 23% thanks to sustained growth in its retail and shopping mall rental business. Philippines committed to Value Added Tax (VAT) implementation The Philippine government have set up several measures to mitigate the effects of the proposed Value Added Tax (VAT) law and of rising world oil prices on domestic prices. Dell to establish customer contact center in the Philippines Dell Inc. (DELL), the world's largest personal-computer maker, will open a customer contact center in the Philippines by February 2006 to provide technical and customer support for its consumers. Dell will begin hiring later this month. JP Morgan to create more call center jobs in the Philippines JP Morgan sets up business outsourcing operations in the Philippines to support its US credit card operations and announces its plans to revive its brokerage activities in the Philippines. Foreign investors remain upbeat on the Philippines Newly-appointed Budget Secretary Romulo Neri expressed optimism that foreign investors continue to be confident in the Philippines... Philippines' San Miguel may buy rest of Australia's Berri Philippines' San Miguel Corp, Southeast Asia's largest food and beverage company, said on Tuesday it was considering making Australian juice maker Berri Ltd a wholly-owned unit by buying a further 49 percent. Philippines expecting US$1.85 billion in new investments from South Korea The Philippines is expecting as much as 1.85 billion dollars in new investments from South Korea, the government has announced, following a visit by South Korean Prime Minister Lee Hae-chan, who met President Gloria Arroyo. UPDATE: Philippine Inflation Slows In July To 7.1% Inflation in the Philippines decelerated in July to its slowest pace so far this year and to just above the central bank's forecast range, easing pressure to tighten monetary policy. Philippines IT Services attracts European Companies European companies, including Logica CMG, Express Gifts and the Emirates Group, expressed strong interest in business process outsourcing deals with Philippines IT and IT-enabled firms. Philippine Business News : July 2005Philippine Economic Team to build upon Reform SuccessesThe Philippine Economic team vows to build upon the country's strong economic performance in 2004 and first quarter of 2005. The team noted that government's economic policies are bearing fruit. PeopleSupport Reports Record Revenues for Second Quarter 2005 PeopleSupport, Inc., an offshore business process outsourcing (BPO) provider with facilities in the Philippines, reported record revenues for second quarter 2005 of $14.7 Million, +47% vs. last year. Contact Center Solutions Provider Five9 Opens SE Asia HQ In Philippines Five9,a provider of on-demand contact center, opens office and names country manager in the Philippines to accelerate its expansion in Southeast Asia. Philippine Business News : June 2005HK logistics company bullish on the PhilippinesThe top executive of Hong Kong-based Li & Fung Group of Companies expressed confidence that the Philippine market will remain strategically important for... JPMorgan boosts Philippine business operations JPMorgan Chase & Co. renews its business ties in the Philippines, setting up a business process-outsourcing firm to complement its regional presence and support its US credit card operations. Korea Elec plans to expand Philippine Power Plant A consortium led by Korea Electric Power Corp. (015760.SE), or Kepco, plans to invest around $450 million to increase the output of its Ilijan natural gas-fired power plant in the Philippines by 600 megawatts by 2009... Philippines definitely on Asia's investment map Philippines 270 percent investment growth high on Asia's investment map. China to invest $1 billion on Philippine mining... The Time Is Now - Philippines Ready for Mining Resurgence It is now widely accepted in the Philippines that there is quite significant potential for an enhanced mining sector to contribute to general economic growth... Philippines moves up in World League of "Super Growth Cos" Philippines improves rank to 22nd in the world league of super growth companies. US tops the list, displacing Sweden. Super growth companies are defined as... Philippines: 1.09 M jobs created January-May About 1.09 million jobs have been created in the first five months of this year, Malacañang announced yesterday as it remained optimistic that it will be able to attain its target of 10 million jobs before President Arroyo ends her term of office in 2010. Philippine export champions shine at food festival Leading manufacturers make a windfall from four-day trade fair; Philippine pavilion highlights unique portfolio of products, including tropical fruit wines, seafood items... Philippines' dollar surplus near three-year record As of end-May, the Philippines’ external payments position registered a surplus of $1.638 billion, a big jump from the $477 million posted in the same five-month period last year...The Philippines’ dollar cache went up 3.7 percent to $17.337 billion from $16.745 ... Philippine semiconductor exports outperform global sales INQ7money.net - Jun 17 11:48 AM THE GROWTH in Philippine exports of semiconductor devices gives a good sign for the country's overall trade performance this year, as the sector outperformed the global industry in April, Trade and Industry Secretary Juan Santos said. Will Norris send jobs to the Philippines? Bank on it Age (subscription), Australia - Jun 14, 2005 The next outsourcing boom is happening in the Philippines, and that is where the Australian bank customers will soon be ringing for their inquiries... Philippine Telecom sector posts 14% growth The local telecommunications industry posted a 14 percent growth to $4.7 billion in revenue last year compared to 2003. IDC Philippines noted that the industry enjoyed a strong performance in 2004... Philippine garment exports up 10% sans quotas The volume of Philippine garments exports has grown at an average of 10 to 11 percent a month..."We are talking of an industry that hauls in $2.8 to $3 billion a year,"... Philippine President Arroyo expects booming era of friendship with China Philippine President Gloria Macapagal Arroyo said on June 9 that the Filipino-Chinese ties have entered a golden age...also thanked China for making 1 billion US dollars of investment in a southern Filipino nickel mine... Philippine stocks jump, China turns around Los Angeles (MarketWatch) - A clutch of U.S.-listed Asian stocks traded higher on Monday, with regional gains lifting Philippine Long Distance Telephone Co. jumping ahead and China-related stocks... Philippine Business News : May 2005Steele to Philippine manufacturers: Market what you doFurniture Today (Subscription) - Steele went to the Cebu furniture market in the Philippines for the first time this past February. He was amazed by what he saw...Philippine products advantage over China is the design and profitability of the goods, plus the ability to produce mixed containers... Back to Top of Philippine Business News
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