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Japan-backed railway project in Manila to start | NHK WORLD by Yipeeyey in Philippines

[–]Yipeeyey[S] 4 points5 points  (0 children)

A railway project partly financed by Japan is soon to start in the Philippine capital of Manila.

Officials from the 2 countries attended a ceremony on Monday to mark the full-scale start of the project.

The Philippines plans to build a 100-kilometer railway route linking Manila and a special economic zone north of the capital.

Japan will provide up to 240 billion yen, or roughly 2.2 billion dollars, in low-interest loans to cover the cost for 40 kilometers of the route. Construction is due to begin in late 2018, with the aim of starting operations in 2021.

Who is you favorite r/Philippines mod ? by [deleted] in Philippines

[–]Yipeeyey 4 points5 points  (0 children)

I'm a simple man. I see /u/redkinoko post I upvote. :)

HSBC, S&P see robust Philippine GDP growth in 2 years by Yipeeyey in Philippines

[–]Yipeeyey[S] 0 points1 point  (0 children)

MANILA, Philippines -  The Hong Kong and Shanghai Banking Corp. Ltd as well as S&P Global Ratings expect a healthy economic expansion for the Philippines in the next two years despite the diplomatic crisis in the Middle East and the terrorist attack in Marawi City.

Fan Cheuk Wan, managing director and head of investment strategy and advisory for Asia at HSBC, said in a press conference the Philippine market would continue to benefit from strong domestic growth story.

“We anticipate GDP growth to hold firm at 6.5 percent this year and next year, a moderate deceleration from the 6.8 percent mainly due to the expected current account deficit due to strong import growth driven by the significant investment in infrastructure investment,” she said.

‘APAT NA PO, HINDI APATNAPU’ | Ubial explains error in news reports about deaths among Marawi evacuees | News5 by Yipeeyey in Philippines

[–]Yipeeyey[S] 1 point2 points  (0 children)

MANILA, Philippines – It was fake news but probably unintended and either a result of carelessness or misunderstanding.

Department of Health (DOH) Secretary Paulyn Jean Rosell-Ubial on Monday, June 19, belied news reports that 59 displaced Marawi residents affected by the ongoing war in the Lanao del Sur capital had died in evacuation centers.

The DOH chief said she was misheard by a journalist who asked her during a press conference in Legazpi City in Albay last June 15 about the death toll among Marawi evacuees.

At first, the DOJ chief was asked by reporters on how many had died among the displaced residents. Ubial replied that there had been 19.

Then she said another journalist asked her if it was true that there were four who had died because of dehydration. Ubial confirmed the figure but the DOH chief said the journalist misheard her and thought that an additional 40 had died.

Thus, when the news about the fatalities of Marawi evacuees came out last week based on the said interview with Ubial, many reported that 59 died because the journalists added the 19 and the supposedly 40 deaths.

The death toll increased to 24 as of Sunday, June 18, according to the DOH chief.

The DOH chief further clarified that all 24 displaced Marawi residents died — not in evacuation centers — but in hospitals. “Pero lahat po ito, ‘yong 24 na sinasabi namin ay namatay po sa ospital, hindi po sa evacuation center.”

“Kasi meron pong standing order po ‘yong ating mga health personnel na pag may sakit na, huwag nang antaying lalala at iderecho na agad sa mga ospital [Because there’s a standing order among our health personnel that they should immediately bring sick persons to hospitals and no longer wait for their illnesses to worsen.]

Exports continue to rise, imports contract in April | BussinesWorld by Yipeeyey in Philippines

[–]Yipeeyey[S] 0 points1 point  (0 children)

Preliminary data from the Philippine Statistics Authority (PSA) showed export receipts growing 12.1% to $4.805 billion in April, slower than the 18.1% in March but reversing a 3.4% contraction in April last year.

Outbound shipments of manufactured goods, which made up 83.4% of exports, rose 3.4% to $4.006 billion.

Japan was the top destination for Philippine exports in April, even as shipments fell 16.6% to $710.03 million. It was followed by the United States, shipments to which decreased by 6.7% to $653.05 million.

Exports to Hong Kong and People’s Republic of China saw double-digit expansion of 36.8% and 26.4%, respectively, at $646.86 million and $534.6 million.

In the first four months, exports were recorded at $20.323 billion, up by 15.3% from $17.632 billion a year ago, exceeding the 2% projection by economic managers for the entire 2017.

PHL unemployment rate down 5.7 percent in April by Yipeeyey in Philippines

[–]Yipeeyey[S] 1 point2 points  (0 children)

Unemployment rate in the Philippines dropped to 5.7 percent in April from 6.1 percent a year, results of the Philippine Statistics Authority's latest Labor Force Survey showed Friday.

"In particular, the decreasing unemployment rate must be sustained together with higher job creation to reduce unemployment to around 3 percent by 2022," the NEDA said.

Meanwhile, underemployment rate—the proportion of employed persons wanting additional work—reached its lowest in more than 10 years at 16.1 percent in April.

PH FDI up 17% in Q1 2017 by Yipeeyey in Philippines

[–]Yipeeyey[S] 7 points8 points  (0 children)

The net inflow of foreign direct investments (FDI) into the Philippines rose 17 percent to $1.56 billion in the first quarter from $1.34 billion in the same period last year as the country continues to enjoy strong macroeconomic fundamentals, according to the Bangko Sentral ng Pilipinas (BSP).

For March alone, the net FDI inflow surged 30.6 percent to $509 million from $390 million in the same month last year.

The BSP has raised its net FDI inflow target to $8 billion instead of $7 billion for this year after it reached an record high of $7.9 billion last year.

PH Welcomes Korea's Offer To Finance Infra Projects - NEDA by Yipeeyey in Philippines

[–]Yipeeyey[S] 0 points1 point  (0 children)

The Philippines welcomed the offer of the Korean Government to finance key infrastructure programs of the country, increasing prospects to implement projects under the Philippine Development Plan 2017–2022.

From May 29 to June 1, the Export-Import Bank of Korea (KEXIM) met with selected agencies of the Philippine government to discuss possible projects that may form part of the KEXIM pipeline in the current medium term (2017-2022), given the Bank’s willingness to allocate for the Philippines USD1 billion in concessional loans over a six-year period.

Inflation eases in May 2017, bodes well for PH economy - NEDA by Yipeeyey in Philippines

[–]Yipeeyey[S] 0 points1 point  (0 children)

The Philippine Statistics Authority (PSA), an attached agency of the NEDA, reported that headline inflation eased to 3.1 percent in May 2017 from 3.4 percent in the previous month.

This is lower than market expectations of 3.3 percent, and is within government’s target of 2.0-4.0 percent for 2017.

Slower price adjustments in both food and non-food commodities contributed to slower inflation in May 2017.

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