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Karen Lema

Philippine inflation picks up in May, but more policy easing seen

Jun 05 2019

MANILA Philippine annual inflation quickened in May for the first time in eight months, but analysts say a slowing economy and lack of price pressures this year will likely mean more policy easing.

UPDATE 1-After rate cut, Philippine c.bank slashes RRR to boost liquidity

May 16 2019

* Cuts to boost liquidity in financial system (Adds details, background, analyst comments)

Policy easing on the cards as Philippine first-quarter GDP growth disappoints

May 09 2019

MANILA The Philippine economy grew at its weakest pace in four years in the first quarter bolstering expectations the central bank will cut rates at its meeting later on Thursday to rev up growth.

Philippines says won't bar Chinese proposals for shipyard takeover

Apr 25 2019

* Eight firms from six countries have shown interest - banker

Eight killed, dozens feared trapped after earthquake hits Philippines

Apr 22 2019

MANILA At least eight people were killed when a magnitude 6.1 earthquake struck the Philippines' main island of Luzon on Monday and officials feared dozens could be trapped in the rubble of a collapsed commercial building.

RPT-Filling 'Brexodus' gap, Filipino nurses find English tests too daunting

Apr 08 2019

MANILA, April 8 Bracing for life after Brexit, British hospitals badly need more nurses like Filipino Jobie Escalona, but she twice flunked a mandatory English language test that asked her to write up the merits of immigration and computer education in school.

Filling 'Brexodus' gap, Filipino nurses find English tests too daunting

Apr 08 2019

MANILA Bracing for life after Brexit, British hospitals badly need more nurses like Filipino Jobie Escalona, but she twice flunked a mandatory English language test that asked her to write up the merits of immigration and computer education in school.

Philippines' Duterte tells China to 'lay off' island in disputed waters

Apr 04 2019

MANILA Philippine President Rodrigo Duterte told China on Thursday to "lay off" an island occupied by Manila in the disputed South China Sea and said he would deploy his soldiers there if Beijing touches it.

Trade war, Brexit could slow developing Asia's 2019, 2020 growth: ADB

Apr 03 2019

MANILA Growth in developing Asia could slow for a second straight year in 2019 and lose further momentum in 2020, the Asian Development Bank (ADB) said on Wednesday, warning of rising economic risks from a bitter Sino-U.S.trade war and a potentially disorderly Brexit.

Trade war, Brexit could slow developing Asia's 2019, 2020 growth - ADB

Apr 02 2019

By Karen Lema MANILA, April 3 Growth in developing Asia could slow for a second straight year in 2019 and lose further momentum in 2020, the Asian Development Bank (ADB) said on Wednesday, warning of rising economic risks from a bitter Sino-U.S.trade war and a potentially disorderly Brexit. Developing Asia, which groups 45 countries in the Asia-Pacific region, is expected to grow 5.7 this year, the ADB said in its Asian Development Outlook report, slowing from a projected 5.9 percent expansion in 2018 and 6.2 percent growth in 2017. The 2019 forecast represents a slight downgrade from its December forecast of 5.8 percent. For 2020, the region is forecast to grow 5.6 percent, which would be the slowest since 2001. "A drawn out or deteriorating trade conflict between the People's Republic of China and the United States could undermine investment and growth in developing Asia", Yasuyuki Sawada, ADB's chief economist, said in a statement. The lender also cited uncertainties stemming from U.S. fiscal policy and a possible disorderly Brexit as risks to its outlook because they could slow growth in advanced economies and cloud the outlook for the world's second largest economy. "Though abrupt increases in U.S. interest rates appear to have ceased for the time being, policy makers must remain vigilant in these uncertain times," Sawada said. China's economy will probably grow 6.3 percent this year, the ADB said, unchanged from its December projection, but slower than the country's 6.6 percent expansion in 2018. Growth in the Chinese mainland is projected to cool further to 6.1 percent in 2020. China has set its 2019 economic growth target at 6.0 to 6.5 percent. By region, South Asia will remain the fastest growing in Asia Pacific, with the ADB predicting an expansion of 6.8 percent this year - lower than its previous forecast of 7.1 percent - and 6.9 percent next year. From an estimated 7.0 percent growth in 2018, India's economy is projected to expand at a faster pace of 7.2 percent in 2019 and 7.3 percent in 2020, the ADB said, as lower policy rates and income support to farmers boost domestic demand. This year's growth forecast for Southeast Asia was trimmed to 4.9 percent from an earlier estimate of 5.1 percent, as the Manila-based lender expect Malaysia, Singapore, Philippines and Thailand to grow slower than previously thought. Next year, Southeast Asia is predicted to grow 5.0 percent. Citing stable commodity prices, the ADB lowered its average inflation forecast for developing Asia to 2.5 percent this year from 2.7 percent previously, and it is expected to remain subdued at 2.5 percent in 2020. GDP GROWTH, pct Subregion/Economy YEAR 2017 2018* 2019 2019 2020 ACTUAL APRIL DEC APRIL Central Asia 4.2 4.4 4.2 4.3 4.2 East Asia 6.2 6 5.7 5.7 5.5 China 6.8 6.6 6.3 6.3 6.1 South Asia 6.9 6.7 6.8 7.1 6.9 India 7.2 7 7.2 7.6 7.3 SEast Asia 5.3 5.1 4.9 5.1 5 Indonesia 5.1 5.2 5.2 5.2 5.3 Malaysia 5.9 4.7 4.5 4.7 4.7 Myanmar 6.8 6.2 6.6 n/a 6.8 Philippines 6.7 6.2 6.4 6.7 6.4 Singapore 3.9 3.2 2.6 2.9 2.6 Thailand 4 4.1 3.9 4.1 3.7 Vietnam 6.8 7.1 6.8 6.8 6.7 The Pacific 2.4 0.9 3.5 3.1 3.2 Developing 6.2 5.9 5.7 5.8 5.6 Asia INFLATION, pct Subregion/Economy YEAR 2017 2018 2019 2019 2020 ACTUAL APRIL DEC APRIL Central Asia 9 7.9 7.8 7.8 7.2 East Asia 1.6 2 1.8 2.1 1.8 China 1.6 2.1 1.9 2.2 1.8 South Asia 3.9 3.7 4.7 5 4.9 India 3.6 3.5 4.3 4.7 4.6 Southeast 2.8 2.7 2.6 2.8 2.7 Asia Indonesia 3.8 3.2 3.2 3.2 3.3 Malaysia 3.8 1 2 2 2.7 Myanmar 4 7.1 6.8 n/a 7.5 Philippines 2.9 5.2 3.8 4 3.5 Singapore 0.6 0.4 0.7 1.3 0.9 Thailand 0.7 1.1 1 1.2 1 Vietnam 3.5 3.5 3.5 4.5 3.8 The Pacific 4.2 4 3.7 3.9 4 Developing 2.2 2.5 2.5 2.7 2.5 Asia *2018 column contains actual and estimated figures (Reporting by Karen Lema Editing by Shri Navaratnam)

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