Inside the Philippines: October 2024

Macro Movements: World Bank projects 5.9% GDP growth for PHL; US Federal Reserve cuts rates by 50 bps

World Bank expects an average 5.9% growth for the country as easing interest rates may boost domestic consumption
US Federal Reserve lowers benchmark interest rate by half a percentage point, the first cut in 4.5 years


Business Movements: Bicam approves CREATE MORE bill; Japanese firms keen on further expansion in PHL

Bicameral Conference Committee approves the CREATE MORE bill
Five Japanese firms express keen interest to enter new investments in the Philippines


Deals Spotlight: ALI raises P2.72 billion from block sale; KKR, GIC hire banks to sell 80% stake in Metro Pacific Health

Ayala Land Inc. (ALI) raises P2.72 billion after selling 75 million common shares of AREIT at P36.2 pesos per share
KKR & Co. and Singapore sovereign wealth fund GIC hire banks to sell majority stake in $3.2 billion Metro Pacific
Health


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