SourceFit

DECEMBER 22, 2014

National Economic and Development Authority (NEDA) Director-General Arsenio M. Balisacan expects the main growth drivers of the Philippine economy this fourth quarter to be the business process outsourcing (BPO) industry and the manufacturing sector. Both sectors are projected to help produce higher fourth quarter growth to offset a lackluster third quarter.

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SourceFit

DECEMBER 19, 2014

The Philippines is more resilient than other countries, with remittances soaring and the business process outsourcing (BPO) industry booming despite shocks in Russia, Japan, the Unites States and Europe, according to National Economic and Development Authority (NEDA) director general and economic planning secretary Arsenio M. Balisacan. He added that the country has a strong outsourcing industry, with multinational companies continuing to expand operations.

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SourceFit

DECEMBER 18, 2014

ING Bank, a multinational financial company, will expand its back office operations in the Philippines to serve a growing number of clients in Asia and Europe. The Amsterdam-based financial services group aims to double its current staff in the country by the end of 2016, according to ING Global Services and Operations Inc (GSO) president and chief executive officer Nigel Smith.

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SourceFit

DECEMBER 15, 2014

The Philippines is expected to be the top performer among the ASEAN-5 in terms of expansion within the next five years, according to the Organization for Economic Co-operation and Development (OECD). The OECD said growth forecasts in the region that includes Southeast Asia, China and India are “favorable overall,”? even with domestic and international risks.

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SourceFit

DECEMBER 11, 2014

The country’s business process outsourcing (BPO) companies and captive centers of international corporations are responsible for generating high-paying jobs for Filipinos. according to Pasig City representative and chair of the House committee on higher and technical education Roman Romulo. Romulo named 45 large BPO firms as the Philippines’ leading employers, adding that the companies greatly reduce unemployment among recent graduates and young professionals.

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SourceFit

DECEMBER 9, 2014

Real estate consultancy group CBRE Philippines said the country’s real estate industry is expected to keep growing due to steady office, residential, and commercial demand. Commitments from business process outsourcing (BPO) companies are driving the growth in the office sector, while the residential sector attracts investments from the expatriate community and Filipinos working abroad.

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SourceFit

DECEMBER 1, 2014

Australian Prime Minister Tony Abbott declared that jobs and growth are at the top of this year’s G20 agenda, as leaders of the 20 largest economies in the world gather in Brisbane, Australia for the forum. Financial analysts have high expectations for the summit, expecting members to cook up a plan to boost the global gross domestic product (GDP) by over $2 trillion.

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