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September, 25, 2016

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Business > Asia > Philippines
Philippines' rich-poor divide
A family rest outside their house under a bridge in Manila on Friday, Aug. 19. The Philippine economy expanded 7 percent in the second quarter, official data has shown, but President Rodrigo Duterte's new government said major changes were needed to fix one of Asia's biggest rich-poor divides.
 
Japan on Friday announced it is pouring a massive US$2.4 billion into a new railway in the Philippines aimed at easing Manila's notorious gridlock.
 
To get by
A man collects recyclable materials among floating garbage at the Manila Baywalk, washed ashore after tropical storm Nida passed through northern Philippines, on Monday, Aug. 1. Turning in such materials is not lucrative, but it is a vital source of income for millions of people living below the poverty line in the Philippines and elsewhere.
 
Economic concerns top the Filipinos' list of issues that should be dealt with immediately by the administration of President Rodrigo Duterte, who won the May 9 elections on a campaign anchored on fighting crime, drugs and corruption.
 
Philippine presidential favorite Rodrigo Duterte has flippantly brushed aside campaign trail allegations of accepting million-U.S.-dollar gifts, while his rivals have refused to disclose their backers, deepening concerns over business titans' shadowy grip on politics.
 
The Philippines is starting to feel the first ripples of the oil price shock.
 
The Philippine economy grew 5.8 percent in 2015, short of even lowered government expectations.
 
Farmers lose debt gamble in Philippines
Philippine rice farmer Francisco Santo Domingo's life is in ruins after losing yet another gamble with nature, but the typhoon that destroyed his crops means gleeful loan sharks have again hit the jackpot.
 
The Philippine Department of Agriculture (DA) has issued yet another temporary ban on the import of birds and their products, this time from Germany, as it continues to shore up measures to protect the Philippines' bird flu-free status.
 
Philippine economic growth quickened in the second quarter, the government said Thursday, placing the country in a better position to weather the global fallout from China's economic woes.
 
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