Tag: finance

Cerberus’ P5.31 Billion Unsolicited Proposal For Subic Bay International Airport Development Under SBMA’s Review

Cerberus’ P5.31 Billion Unsolicited Proposal For Subic Bay International Airport Development Under SBMA’s Review

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When was the last time you visited the Subic Bay International Airport (SBIA)? In recent times, the US-based company Cerberus Asia Pacific Investments, LLC (Cerberus) proposed to manage, operate and rehabilitate the said airport for P5.31 billion and it has been endorsed by the Public-Private Partnership (PPP) Center. The unsolicited proposal is officially being reviewed by the Subic Bay Metropolitan Authority (SBMA), according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the business news article of BusinessWorld. Some parts in boldface…

THE P5.31-billion unsolicited proposal of US-based investment company Cerberus Asia Pacific Investments, LLC (Cerberus) to manage, operate, and upgrade Subic Bay International Airport (SBIA) is now being reviewed by the Subic Bay Metropolitan Authority (SBMA) after the go signal from the Public-Private Partnership (PPP) Center.

“This unsolicited project was endorsed by the (PPP) Center to the IA (implementing agency) after being determined complete… The Subic Bay International Airport PPP is currently undergoing the approval process of SBMA,” the PPP Center told BusinessWorld on Tuesday.

According to the PPP Center, the SBMA will be the approving body for the project. If approved, the airport project will be under an operate-add-transfer contract arrangement.

Once the SBMA approves the project, it will begin negotiations with the project proponent. The government will then formalize the Original Proponent Status and initiate the Swiss Challenge process.

The Swiss Challenge is a process where other companies can submit better offers, but the original proponent has the right to match them.

Cerberus Capital Management is an investment firm managing approximately $65 billion in assets. Its global network of affiliates includes Cerberus Asia Pacific, which focuses on investments in logistics, infrastructure, technology, and energy.

Cerberus already operates part of a 310-hectare lot of a former South Korean-owned shipyard located west of the airport for which it had submitted an unsolicited bid.

“In theory, competitive bidding is king. In the reality of the SBIA, Cerberus is the catalyst we need. It is time to choose strategic results over procedural delays,” Rene S. Santiago, former president of the Transportation Science Society of the Philippines, said in a Viber message.

Nigel Paul C. Villarete, a senior adviser on public-private partnerships at the technical advisory group Libra Konsult, said that solicited bidding would be more feasible and faster, as it enables the government to define the contract’s parameters and coverage.

“Many of our public facilities should be operated by the private sector to attain a lot of the efficiencies that they can do, which are often difficult to attain within the government realm,” Mr. Villarete said.

For Mr. Villarete, a government-led solicited procurement process will always be preferable.

However, since an unsolicited proposal has already been submitted, the government’s role is to enter into negotiations, introduce the necessary changes and amendments, and only then present the proposal to the public for challenge, he said.

“There should be a negotiation period for the two parties to discuss any amendments required by the government before this is published for challenge,” he said.

Cerberus’ proposal covers the rehabilitation of SBIA assets and the development of new facilities to expand capacity and attract new tenants.

The company has also committed to invest “considerable financial resources” and utilize its real estate management capabilities in developing the airport.

In its proposal the company said that it will maintain the existing leases but only for the “early years” of its concession period.

“Cerberus plans to maintain the status quo of existing operations by honoring existing leases and retaining incumbent employees. In parallel, Cerberus will invest significant capital expenditure to improve SBIA’s infrastructure and operations, whilst building new hangars and storage facilities to reestablish SBIA as a major hub for commercial cargo operations and to expand SBIA’s government logistics operations,” it said.

The company added that it will monitor and evaluate airport fees to optimize SBMA’s returns under the revenue-sharing agreement, while supporting efforts to attract and manage both existing and new airport tenants.

This revenue-sharing scheme would be the determining factor if the proposed 25-year concession agreement were extended, PPP Center said.

Let me end this post by asking you readers: What is your reaction to this recent development? What is your opinion about the current state of the international airport inside the Subic Bay Freeport Zone? Do you think so much more can be achieved with the Subic Bay International Airport in terms of expanding flight connectivity, attracting more tourists from overseas and paving way for more foreign commerce to enter the freeport?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Deals Worth $4.2 Million Signed To Expand Nuclear Cooperation

Deals Worth $4.2 Million Signed To Expand Nuclear Cooperation

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Recently the effort to integrate nuclear power into the energy mix of the Philippines moved a few steps forward as deals with American companies worth $4.2 million were formally signed, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the business news article of BusinessWorld. Some parts in boldface…

THE PHILIPPINES is gaining more support from the United States in its goal of integrating nuclear power into the national energy mix in the next six years as it sealed $4.2 million worth of deals with US companies.

Government agencies and private companies from the Philippines and the US on Monday entered into memoranda of understanding which are aimed at exploring deployment of nuclear technology and supporting nuclear workforce development in the country.

“The Philippine Energy Plan sets clear direction for an energy future — 1,200 megawatts (MW)by 2032. And that is not moving until somebody tells us that it’s impossible,” Energy Secretary Sharon S. Garin said in her speech during the signing ceremony in Makati City on Monday.

“These targets demand preparation, anchored in discipline, safety, and capacity. As we pursue energy security and a responsible transition, we must invest in our people as deliberately as we invest in infrastructure,” she added.

Under the Philippine Energy Plan, the country aims to integrate nuclear energy into the power mix with at least 1,200 MW of capacity by 2032, rising to 2,400 MW by 2045 and to 4,800 MW by 2050.

“We want to work together to get the Philippines to the finish line on nuclear energy,” Ann K. Ganzer, principal deputy assistant secretary at the US Department of State’s Bureau of Arms Control and Nonproliferation, said.

“Beyond acquiring the technology and establishing robust regulations, to achieve that 2032 goal, the most vital elements will be assessing sites for commercial reactor and developing the skilled workforce needed to design, construct, operate, regulate and sustain advanced nuclear plants for generations to come,” she added.

Manila Electric Co. (Meralco), the country’s largest private electric distribution utility, secured a $2.7-million grant from the United States Trade and Development Agency to help the company assess and deploy US-designed small modular reactors (SMRs) in the Philippines.

Meralco will pursue a feasibility study which involves an evaluation of leading US technologies, identification of viable sites, and delivery of a high-level implementation roadmap.

SMRs, each capable of generating up to 300 MW, can be constructed more quickly than traditional nuclear power plants.

Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan described the grant as “the beginning of a long but necessary journey.”

“Meralco is also looking actually at not only SMRs. It depends on the horizon by which we are able to deploy, but also, perhaps a bit sooner, conventional nuclear plants for this country,” Mr. Pangilinan said.

“It simply is right for the country and for Meralco to take nuclear, and we are prepared to act as thought leaders in this regard,” he added.

The US State Department’s Foundational Infrastructure for Responsible Use of Small Reactor Technology Program involves the installation of a $1.5-million nuclear reactor control room simulator at a technical institution within the planned Luzon Economic Corridor.

The simulator will provide hands-on realistic training for future reactor operators, which is aimed at positioning the Philippines as an SMR regional training hub.

Meanwhile, several private companies and government agencies also contributed $2.5 million to bring US nuclear experts to the Philippines to develop specialized vocational and higher education curricula focused on the civil nuclear industry.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines still has a lot of work to do and many challenges to resolve before it could convince foreign investors to come in? Do you think the national government is doing good enough to make the country attractive to foreign investors again?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine Peso Could Land At P59.70 To The US Dollar By End Of 2026

Philippine Peso Could Land At P59.70 To The US Dollar By End Of 2026

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With its own analysis of varied economic factors, Metrobank stated that the Philippine Peso could end up at a rate of P59.70 to the US Dollar by the end of this year, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the business news article of BusinessWorld. Some parts in boldface…

THE PESO may settle at P59.70 against the dollar by end-2026 on expectations of an economic rebound driven by improved investor confidence, Metropolitan Bank & Trust Co. (Metrobank) said.

In a commentary dated Feb. 10, Metrobank trimmed its peso forecast for end-2026 to P59.70 a dollar from P60.80 previously. It likewise projects the peso to end 2027 at P58.50 versus the greenback, from its earlier estimate of P58.90.

“(A)n anticipated economic growth rebound and improved investor confidence, thanks to better government spending, could support the peso,” it said.

If the bank’s 2026 forecast holds true, the local unit would end the year weaker than its P58.79 finish against the dollar on the last trading day of 2025.

The lingering effects of the flood control corruption scandal and uncertainties in the global market pushed the peso to test new lows at the start of the year.

On Jan. 15, it closed at P59.46 per dollar, breaking the previous all-time low of P59.44 recorded just the day prior.

However, it has recently strengthened amid a weak dollar. On Wednesday, the local unit hit a near four-month high after closing at P58.29 versus the greenback, up 24 centavos from its P58.53 finish on Tuesday, data from the Bankers Association of the Philippines showed.

Meanwhile, Metrobank noted that the peso could struggle to regain further strength as the country’s current account is projected to remain at a shortfall this year.

“Still, the projected current account deficit this year — although narrower than last year’s — would cap the peso’s strength,” it said.

Based on the latest central bank data, the current account balance stood at a $12.5-billion deficit by the end of the third quarter. This was equivalent to -3.6% of gross domestic product (GDP).

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Peso could perform better against the US Dollar and end up better than what Metrobank estimated? Do you think a weaker Peso would be very helpful to the exporters?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

2025 Foreign Investments Fall Down 50.1%

2025 Foreign Investments Fall Down 50.1%

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With the final economic numbers of 2025 counted, it has been confirmed that approved foreign investments in the Philippines fell down by more than 50%, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the business news article of BusinessWorld. Some parts in boldface…

APPROVED foreign investments in the Philippines plunged by 50.1% year on year to P272.38 billion in 2025, its sharpest fall in five years, the Philippine Statistics Authority (PSA) reported on Thursday.

Preliminary data from the PSA showed that the value of foreign commitments approved by the country’s investment promotion agencies (IPA) in 2025 was lower than P546.19 billion in 2024.

This was the steepest drop in foreign investments since the 71.3% drop recorded during the pandemic in 2020. By value, this was the lowest amount of approved foreign investments since the P241.89 billion recorded in 2022.

Singapore was the top source of investment pledges for 2025 after committing P92.78 billion, or 34.1% of the total. It was followed by the Netherlands with P35.98 billion (13.2% share) and Japan with P34.03 billion (12.5%).

Analysts attributed the sharp drop in foreign investment pledges to the sluggish investor confidence in the Philippines arising from global trade uncertainties, natural disasters and the flood control corruption scandal.

“In a nutshell, the decline in approved foreign investment pledges in 2025 was driven by a mix of weaker investor confidence due to governance and corruption issues, global economic uncertainties, cautious corporate behavior, and an unusually high base of comparison from the previous year,” said Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development.

Marco Antonio C. Agonia, an economist at the University of Asia and the Pacific, said uncertainty over the US tariffs may have also dissuaded foreign investors from setting up operations in the Philippines.

The United States imposed a 19% tariff on most Philippine goods beginning Aug. 7, 2025.

“Similarly, weaker growth prospects from repeated natural disasters and the flood control scandal may have encouraged foreign companies to scrap or defer their investment plans in the country,” Mr. Agonia said in an e-mail.

The Board of Investments (BoI) approved P150.34 billion worth of investment pledges in 2025, accounting for 55.2% of the total. It was followed by the Philippine Economic Zone Authority (PEZA) with investment pledges worth P107.06 billion (39.3% share), and the Bases Conversion and Development Authority (BCDA) with P7.01 billion (2.6%).

For 2025, about 45% or P122.48 billion of the total approved foreign investments will go to the energy sector, followed by manufacturing with P81.41 billion (29.9% share) and real-estate activities with P26.31 billion (9.7%).

In 2025, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) cornered around P100.43 billion worth of these investment pledges. Central Luzon will get P70.74 billion while the Bicol Region got P50.76 billion.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines still has a lot of work to do and many challenges to resolve before it could convince foreign investors to come in? Do you think the national government is doing good enough to make the country attractive to foreign investors again?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

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Japan And Trump’s America To Speed Up Investment Plans Under $550 Billion Package

Japan And Trump’s America To Speed Up Investment Plans Under $550 Billion Package

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Remember Japan’s commitment of investing $550 billion into core industries in the United States? The two great nations had a high-level meeting in Washington and they agreed to speed up the selection of the first round of investment projects under the multi-billion Dollar package before they are sent to US President Donald J. Trump for approval, according to a news report by Kyodo News.

To put things in perspective, posted below is an excerpt from the news report of Kyodo News. Some parts in boldface…

Japan and the United States agreed Thursday to speed up selection of the first round of investment projects under a $550 billion package that Tokyo committed to last year following months of tariff negotiations, with a summit of their leaders about a month away.

Hours after his meeting with U.S. Commerce Secretary Howard Lutnick in Washington, Japanese industry minister Ryosei Akazawa told reporters a “significant gap” remained and more coordination was required to serve the mutual interests of the two countries.

“In conducting negotiations, we are naturally keeping in mind the goal of making Prime Minister (Sanae) Takaichi’s visit to the United States a fruitful one,” he said.

Akazawa’s meeting with Lutnick was believed to be part of last-ditch efforts to sort out the first batch of Japanese investment projects to be carried out in the United States, before they are sent to President Donald Trump for final approval.

Although Akazawa, who serves as economy, trade and industry minister, said there was some progress, neither side could unveil any specifics. While refusing to elaborate, he suggested differences remained over interest rates and business risk assessments.

“In a nutshell, as far as we are concerned, high-risk, high-return (investments), given that they also involve taxpayers’ money, are not something we are interested in,” he said.

The meeting with Lutnick took place a week after Trump said he would welcome Takaichi to the White House on March 19.

Under a trade deal struck in July last year, Japan has committed to investing $550 billion in the United States by the end of Trump’s second term in January 2029, in exchange for his administration reducing tariffs on Japanese cars and other goods.

The massive figure represents a combination of investments, loans and loan guarantees from Japanese government-backed financial institutions.

Japan and the United States have agreed that the forthcoming investments will focus on strategic sectors, such as critical minerals, semiconductors, artificial intelligence and energy, to support their national security interests and economic objectives.

For the initial tranche of investments, the construction of gas-fired power generation facilities for data centers, the production of synthetic diamonds used in the semiconductor industry and the development of a port are among the leading candidates, according to Japanese officials.

The memorandum of understanding between Japan and the United States, signed by Akazawa and Lutnick in September last year, stipulates that Trump will ultimately select projects recommended by an “investment committee” chaired by the commerce secretary and composed solely of U.S. officials.

Earlier in the process, the so-called consultation committee — comprising officials from both countries — is tasked with identifying potential investment projects.

The United States will forward investment projects that gain Trump’s endorsement to Japan for review, with Tokyo given 45 days to respond and transfer the necessary funds to Washington.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the two nations will reach an agreement over the first round of investment projects under the $550 billion package? Do you think the remaining challenges will be resolved in due time? Are you looking forward to Prime Minister Takaichi’s Washington visit and meeting with President Trump this March?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Indonesia Attracts 15.39 Million Foreign Visitors In 2025

Indonesia Attracts 15.39 Million Foreign Visitors In 2025

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Indonesia, the 2nd largest economy of Southeast Asia, successfully attracted 15.39 million foreign visitors in 2025 and it is already looking forward to attracting even more this year, according to a news report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Indonesia, the largest economy in Southeast Asia, welcomed 15.39 million foreign visitors in 2025, exceeding its target of 14-15 million arrivals.

“We have exceeded our target and performed better than our previous projections,” Tourism Minister Widiyanti Putri Wardhana said at a meeting in Jakarta on Wednesday, as quoted by Antara News Agency.

Government figures show that average spending per foreign visitor reached US$1,267 in 2025, surpassing the target of $1,220.

Malaysia remained the biggest contributor to Indonesia’s tourism revenue, while the United Arab Emirates posted the fastest growth in visitor numbers.

Arrivals from China rose sharply, reaching 1.34 million in 2025, the highest level in six years, according to Xinhua News Agency. The data indicates that travel from China to Indonesia has not only recovered but has also exceeded pre-pandemic levels.

By doing the math of the numbers revealed in the above news report, US$1,267 multiplied with 15.39 foreign tourists is equal to roughly US$19.5 billion in foreign tourism revenue. That is a huge economic boost for Indonesia.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Indonesia? If you have visited Indonesia, what did you enjoy the most while touring there?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Vietnam Attracts 2.5 Million Foreign Tourists In January 2026

Vietnam Attracts 2.5 Million Foreign Tourists In January 2026

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Vietnam, which is already one of the leading players of Southeast Asia on foreign tourism, is off to a powerful start as it successfully attracted 2.5 million foreign tourists in January 2026 alone, according to a news report by VnExpress. The relaxed visa policies and enhanced tourism campaigns were factors behind the early success.

For insight, Vietnam attracted 21.2 million foreign tourists in 2025. It is expected to attract more from Israel as its ties with the Jewish state are getting stronger. Also, a lot of Filipino travelers searched for accommodations in Vietnam online in 2025. These are only a few of many factors highlighting the tourism boom in Vietnam.

To put things in perspective, posted below is an excerpt from the news report VnExpress. Some parts in boldface…

Vietnam received 2.5 million foreign visitors in January, its highest monthly number ever, thanks to relaxed visa policies and increased tourism campaigns.

It represents an increase of more than 21% from the previous month, data released Tuesday by the General Statistics Office shows.

The composition of Vietnam’s top source markets changed during the month. South Korea overtook mainland China to become the top market with nearly 490,000 visitors, and China was next with 460,000.

Cambodia emerged as the most notable mover with more than 223,000 arrivals to rise to third place overtaking Taiwan. The rest of top 10 comprised Taiwan, Japan, the U.S, Australia, Russia, India, and Malaysia.

Industry insiders attribute the jump to ground-breaking visa policies, strong innovation in tourism promotion and marketing, greater product diversification, and improved service quality.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Vietnam? With the strong start, do you think Vietnam will be able to attract more than 30 million foreign tourists this year? What is the first thing that comes to your mind when it comes to tourism in Vietnam?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

ADB Says Philippine Economy Could Grow Around 6% In 2027

ADB Says Philippine Economy Could Grow Around 6% In 2027

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In its latest economic analysis, the Asian Development Bank (ADB) says that the economy of the Philippines could grow by about 6% in 2027 provided that investments – both public and private – would regain strength, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE PHILIPPINE ECONOMY could return to around 6% growth by 2027 if public and private investments rebound, according to Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries.  

“I think (the drivers are a) kind of a little of everything, but return to high investment, public and private, I think would be, to me, the key driver,” he told reporters on the sidelines of an event on Jan. 23.

Last December, the ADB slashed its Philippine gross domestic product (GDP) growth forecast to 5% for 2025, from 5.6% previously. For 2026, the ADB trimmed its GDP projection to 5.3% from 5.7% previously.

This comes after a corruption scandal dampened government spending, household consumption, investor confidence and economic activity last year.

The ADB will release its updated economic outlook in April, which will include a 2027 growth forecast.

Mr. Jeffries warned that the cut in Department of Public Works and Highways’ (DPWH) budget this year, could trigger a “big slowdown” in locally funded projects.

“I guess the main variable for 2026 was how fast does the public investment recover? We were thinking maybe two quarters, so it’ll start reviving,” he said.

In a meeting with Public Works Secretary Vivencio “Vince” B. Dizon in December, Mr. Jeffries said they raised concerns about “paralysis,” where key projects risked getting stuck.

“What we’ve heard is they’re trying to make sure the priority projects are not stuck and keep moving forward quickly. I think it’s a twofold exercise,” he said. “It’s cleaning up the problem while full steam ahead on some of the other projects that weren’t a problem.”

Mr. Dizon earlier said the DPWH aims to boost spending while ensuring funds are used wisely and focus on prioritizing the “basics” such as road and bridge maintenance and unfinished projects. The agency’s target spend is set between P200 billion and P250 billion for the first quarter, he added.

Meanwhile, Mr. Jeffries said the Philippines must raise the share of exports in the economy to support long-term growth, as well as diversify its base, and boost resilience.

“It’s not something that happens overnight. It’ll be a combination of policies and attracting investment and improving the business environment and all of those things combined,” Mr. Jeffries said. “But neighbors have done it and the Philippines can do that.”

He noted the Philippines was shielded from external shocks, largely because exports remain a relatively small part of the economy.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the ADB’s analysis for the Philippines is correct? Do you think the economy of the Philippines has enough strength to grow by at least 6% in 2027?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Trump Picks Kevin Warsh As The Next Federal Reserve Chairman

Trump Picks Kevin Warsh As The Next Federal Reserve Chairman

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At long last, US President Donald Trump picked Kevin Warsh as the next chairman of the Federal Reserve replacing Jerome Powell, and already a lot of public officials and high-ranking members of the private sector support the choice, according to the Kyodo News report plus the White House press statement respectively.

To put things in perspective, posted below is an excerpt from the report of Kyodo News. Some parts in boldface…

U.S. President Donald Trump said Friday he will nominate Kevin Warsh to be the next chair of the Federal Reserve, with the choice of a Wall Street veteran who was a governor of the central bank over a decade ago seen as intended to avoid roiling financial markets.

Trump’s pick to replace Jerome Powell as the Fed chair caps a process that formally began last summer. While screening candidates in private, he has subjected Powell to relentless public criticism for not cutting interest rates more aggressively and challenged the independence of the world’s most influential central bank.

Trump announced the nomination in a post on social media, saying, “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.“

“On top of everything else, he is ‘central casting,’ and he will never let you down,” Trump added. The lengthy post, though it included information on Warsh’s professional experience, did not clearly explain the reason for his selection.

Powell’s term as Fed chief ends in May. The role requires Senate confirmation, which may not be smooth sailing for Warsh due to bipartisan concern over the Fed’s independence under Trump, most recently evidenced by the Department of Justice launching a criminal probe into Powell over a renovation of the central bank’s headquarters.

Trump told reporters later Friday in the Oval Office that he was not worried about the confirmation process, calling Warsh the “most qualified” person to take the helm of the Fed, based on his background and experience.

He also said he did not urge Warsh to cut interest rates, but admitted discussing the topic with him.

“I don’t want to ask him that question. I think it’s inappropriate, probably,” Trump said. “I want to keep it nice and pure. But he certainly wants to cut rates. I’ve been watching him for a long time.”

Warsh was previously appointed to the Fed in 2006 at the age of 35, making him the youngest person ever to serve on its board at that time. He was a board member until 2011.

During the 2008 financial crisis, he served as the Fed’s main liaison with Wall Street and earned a good reputation for stabilizing the situation.

Before that, he was a special assistant to President George W. Bush for economic policy and executive secretary of the White House National Economic Council.

After graduating from Harvard Law School in 1995, Warsh joined Morgan Stanley’s mergers and acquisitions division, where he worked for seven years and became vice president and executive director.

U.S. Treasury Secretary Scott Bessent said last week that the screening of candidates for the next Fed chief had narrowed to four finalists.

The four were said to be Warsh, Kevin Hassett, Trump’s top economic adviser, Christopher Waller, a Fed governor, and Rick Rieder, BlackRock’s chief bond investment manager.

Calling Warsh and Hassett “the two Kevins,” Trump had repeatedly said they were “great” in the weeks leading up to his official announcement.

Warsh was a finalist in the 2017 Fed chair race during Trump’s first term and was reportedly a candidate for Treasury secretary in his second presidency.

During his time on the Fed’s board, Warsh was considered a monetary hawk, meaning he was typically supportive of higher interest rates to curb inflation, even in the middle of the financial crisis.

Compared with Hassett, a close ally of Trump’s who has openly advocated lower borrowing costs for businesses and consumers, Warsh is seen by financial markets as someone who could protect the Fed’s independence from the White House.

However, Warsh, 55, an outspoken critic of the central bank, has increasingly aligned with Trump’s views in recent months. The forthcoming Senate process is likely to test his ability to withstand pressure from the president while also reassuring nervous investors.

In a November opinion piece in The Wall Street Journal, Warsh disapproved of the Fed’s current monetary policy and praised the Trump administration for advancing what he called “pro-growth” economic programs, focusing on deregulation and tax reforms.

Meanwhile, the White House press statement revealed a long list of public officials and financial market figures who responded positively to Warsh’s nomination to lead the Federal Reserve. Posted below are selected excerpts from the statement. Some parts in boldface.

The nomination has drawn widespread praise from lawmakers, business leaders, financial experts, and industry voices across the spectrum:

Senate Committee on Banking, Housing, and Urban Affairs Chairman Tim Scott: “The Federal Reserve’s decisions touch every American household, from mortgage rates to retirement savings, and President Trump has been clear that bringing accountability and credibility to the Federal Reserve is a priority, and his nomination of Kevin Warsh reflects that focus. As a former Federal Reserve Governor, Kevin has deep knowledge of markets and monetary policy that will be essential in this role. Federal Reserve independence remains paramount, and I am confident Kevin will work to instill confidence and credibility in the Fed’s monetary policy. As Chairman of the Senate Banking Committee, I look forward to leading a thoughtful, timely confirmation process that carefully examines his vision for focusing the Federal Reserve on its core mission.”

Sen. Jim Banks: “Kevin Warsh is a brilliant pick by President Trump for Fed Chair. Clear from what he wrote in 2021 he understands scale of China’s ambitions. As member of Banking Committee I look forward to working with him to maintain American financial supremacy.”

Sen. Marsha Blackburn: “Kevin Warsh is exceptionally qualified to lead the Federal Reserve as Chairman. I look forward to supporting this nomination in the Senate, and I am confident Kevin will help foster economic growth and create more opportunity for hardworking Americans.”

Canadian Prime Minister Mark Carney: “Kevin Warsh is a fantastic choice to lead the world’s most important central bank at this crucial time.”

Mortgage Bankers Association President and CEO Bob Broeksmit: “MBA congratulates Kevin Warsh on his nomination to serve as Chairman of the Federal Reserve. His prior service on the Federal Reserve Board, where he developed a reputation as a prudent, thoughtful voice on monetary policy, paired with his private sector experience, will be invaluable as he leads the Federal Reserve in what has become an increasingly challenging and complicated mission.”

U.S. Chamber of Commerce President and CEO Suzanne P. Clark: “Kevin is well known to the business community. We appreciate his years of focus on how we grow the American economy and maintain stable prices for America’s families, and look forward to his confirmation process.”

JPMorgan Chase CEO Jamie Dimon: “Kevin Warsh is a highly respected and experienced leader — across government, business and education — who I have seen act with integrity and a dedication to making our country better.”

Job Creators Network CEO Alfredo Ortiz: “Kevin Warsh is the perfect choice to lead the Federal Reserve. He has repeatedly demonstrated understanding of the true driver of inflation: excessive government money printing, not economic growth. Under his leadership, the Fed can finally reach its target inflation rate, something Chairman Powell has continually failed to do, while also expanding access to credit for small businesses. By protecting the value of the dollar, supporting economic growth, and boosting capital access, a Warsh chairmanship can backstop a booming small business economy. The Senate should quickly confirm him.”

Let me end this piece by asking you readers: What is your reaction to this development? Considering the wide-reaching positive reactions to Trump’s pick for the next Chairman of the Federal Reserve, do you feel confident that Warsh is the right choice? Do you hope to see Warsh make positive changes once he takes over as the head of the Federal Reserve? Have you been frustrated with the way Jerome Powell led the Federal Reserve and executed financial policies over the past several years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines 2025 GDP Growth Lands At 4.4%

Philippines 2025 GDP Growth Lands At 4.4%

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After much anticipation, the full gross domestic product (GDP) growth of the Philippines registered final pace of 4.4% for the whole year of 2025, according to a Manila Standard business news report.

For insight, the 4.4% 2025 GDP growth is even lower than what others anticipated (click here and here). It should be recalled that GDP growth in the 3rd and 4th quarters of last year showed clear signs of economic weakness. The said weakness is connected with the flood control corruption scandal that rocked the nation.

To put things in perspective, posted below is an excerpt from the news report of Manila Standard. Some parts in boldface…

The Philippine economy expanded 4.4 percent in 2025 as a sharp slowdown in the final three months of the year dragged down the annual performance, government data showed on Thursday.

The gross domestic product grew 3.0 percent in the fourth quarter, marking the weakest quarterly expansion in five years. The Philippine Statistics Authority (PSA) said the industrial sector contracted by 0.9 percent during the period, while gross capital formation, a measure of investment, tumbled 10.9 percent.

Wholesale and retail trade, financial activities and public administration remained the primary drivers of growth during the October to December period.

Public administration and defense led the gains with a 7.9 percent increase, followed by financial and insurance activities at 5.6 percent and trade at 4.6 percent.

For the full year, the services sector led the economy with a 5.9-percent expansion, while agriculture, forestry and fishing grew 3.1 percent. The industrial sector recorded a modest 1.5 percent increase for all of 2025.

Consumer spending, which traditionally anchors the Philippine economy, rose 3.8 percent in the fourth quarter and 4.6 percent for the full year. Government spending saw a significant annual jump of 9.1 percent despite the year-end cooling.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will be able to bounce back strongly this year and achieve 5% growth later? Do you think the reforms being implemented by the national government will create positive economic results soon? Are you convinced that the flood control corruption scandal turned off a lot of foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco