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Kick start your day, March 11: PH exports down, manufacturing up in January

Plus, Ayala Corporation breaches target net income for 2015.
By Entrepreneur Staff |

PH exports down by 3.9% in January

The National Economic and Development Authority (NEDA) reported on March 10 that Philippine exports fell by 3.9% or $4.2 billion in January due to lower earnings from all major commodity groups.

 

Most of the major East and Southeast Asian trade-oriented economies registered negative growth at the start of the year. Vietnam hit the least decline while Singapore suffered the steepest.

 

PH exports Jan 2016 infographic
DECLINE. Infographic from the National Economic and Development Authority shows that major commodity sectors suffer decline in January this year, pulling down exports growth to 3.9%.

 

 

Socioeconomic Planning Secretary Emmanuel F. Esguerra said in a statement that the year 2016 is expected to be a challenging one for the export sector as the global economy faces sluggish economic recovery and uneven growth. “We see global trade growth remaining at a low level as the world copes with soft demand and lower commodity prices,” he said.

 

On the brighter side, exports of electronic products hit a 5% increase in January, its eighth consecutive month of positive growth. 

 


Manufacturing starts strong in 2016

Production of chemical products and food manufactures expanded in January, NEDA reported Thursday.

 

The Volume of Production Index (VoPI) grew by 34.3%, nearly seven times more than its growth rate of 5% in December 2015, while the Value of Production Index (VaPI) recovered from its consistent decline since April 2015 as it posted a 26.5-percent growth, the Philippine Statistics Authority’s Monthly Integrated Survey of Selected Industries for January 2016 cited.

 

A bullish business outlook is anticipated for the second quarter of 2016 on the back of higher election-related spending activities and the roll out of infrastructure projects, NEDA cited.

 

 

Ayala Corporation breaches 2015 target net income

Ayala Corporation

BEATING TARGET. Ayala Corporation reports that it breaches its 2015 net income target, hitting P22.3 billion versus P20-billion aim. Shown in photo is the conglomerate's chairman and CEO Jaime Augusto Zobel de Ayala at 2015's stockholder's meeting of the group. Photo from Ayala Corporation's Facebook page

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The oldest conglomerate told the local stock exchange on Thursday that its net income expanded 20% to P22.3 billion ($476.55 million) in 2015, attributed to the strong performance of its real estate, telecommunications, and power generation businesses.

 

Ayala Corporation earlier targeted a net income of P20 billion ($427.34 million).

 

The diversified conglomerate also informed the local bourse that it allotted P174 billion ($3.72 million) for capital spending this 2016. The allotment is for the expansion its real estate and telecommunications units.

 

The Ayala conglomerate’s subsidiaries and affiliates include Ayala Land; Bank of the Philippine Islands; Globe Telecom, Inc.; Manila Water Company, Inc.; Integrated Microelectronics, Inc.; AC Energy Holdings; Inc.; AC Infrastructure Holdings Corporation; Liveit Investments, Ltd.; Ayala Education, Inc.; AyalaAutomotive Holdings Corporation; and AG Holdings Limited. – Lynda C. Corpuz

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