Macro Movements: Stable Philippine outlook maintained amid monetary tightening
Philippine central bank raises interest rates in February as inflation hits 14-year high, signals further tightening
Moody’s maintains stable Philippine outlook
Industry Insight: Data center investments gain ground
Investments in the data center market seen to double in the medium term
Megawide partners with Singapore firm for USD300M data center
PLDT maintains lead in data center market, eyes 82% increase in capacity by 2024
Deal Spotlight: Metro Pacific expands agri business, acquires stake in coconut exporter
Metro Pacific acquires 35% stake in coconut exporter Axelum Resources for USD97M
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Macro Movements: Forecast-beating economic growth in 2022 and projections for 2023
The Philippines’ GDP growth accelerated to 7.6% in 2022, the fastest growth in over four decades
Philippine 2023 GDP growth forecasted among the top range of Southeast Asian economies
Industry Insight: Strong office space demand and outsourcing industry growth
Office space net take-up is expected to double in 2023 from the 2022 level
Outsourcing industry to see robust growth in local jobs and revenue generation
Deal Spotlight: Philippine rum and grocery investments, and logistics startup and VC capital raising
Diageo to buy Don Papa Rum, a super-premium, dark rum from the Philippines
Creador and Navegar invest USD 55 million in DALI Stores, a chain of discount grocery stores in the Philippines
Locad raises USD 11 million in Series A funding and Foxmont Capital secures USD 21.3 million for its second fund
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Macro Developments: November unemployment at its lowest in 17-years while inflation is at a 14-year high
Unemployment comes down to 4.2% while underemployment rose to 14.4% for the month of November.
Inflation picks up in December to 8.1%.
Industry Spotlight: USTDA to open office in the Philippines
USTDA plans to strengthen its presence in the Philippines through a local office targeted to open by first quarter of 2023.
IPO Watch: PSE targeting 14 IPOs for 2023
PSE is optimistic that 2023’s economic reopening will boost confidence for business expansions.
Deal Spotlight: MPIC voluntary delisting, Arch Capital launches Digital Halo, and Converge ICT Singapore expansion
MPIC considers voluntary delisting
ARCH Capital announce launch of 70MW facility in Cainta
Converge can now start building infrastructure for providing connectivity in city-state of Singapore.
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Macro Movements: PH GDP expected to grow over 7%; BBB+ rating affirmed by S&P Global
National Economic Development Authority (NEDA) announces forecast of over 7% for PH 2022 GDP
S&P Global affirms BBB+ PH investment grade rating
Trade Relations: Philippines could sign RCEP trade agreement by early 2023
Department of Trade and Industry (DTI) optimistic of Senate's concurrence to RCEP
Deal Spotlight: MUFG acquires Home Credit PH; Tonik aims to enter new market through TendoPay acquisition
Japanese holding company MUFG acquires Home Credit Philippines for USD 473M
Tonik Financial acquires TendoPay
Industry Watch: E-Commerce drives growth of digital economy
PH digital economy expected to reach a GMV of USD 35B by 2025
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Macro Developments: Inflation soars to nearly 14-year high; further monetary tightening signaled
Philippine inflation accelerated to 7.7% in October from 6.9% in September
Central bank set to deliver another 75-basis-point rate hike in November
Switching Sources: New measures accelerate shift to renewable energy
Department of Energy promotes investments, allows 100% foreign ownership in the local renewable energy sector
Industry Insight: Local conglomerates foray into the fast-emerging data center market
Philippine ICT market seen to reach USD21B by 2026
Local conglomerates venture into the data center business
Startup Scene: Packworks to represent the Philippines at the 2023 Startup World Cup in Silicon Valley
Packworks bags the top spot in the Philippine leg of the Startup World Cup, advances to the finals
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Macro Developments: Inflation hits 4-year high and interest rate hikes expected
Philippine inflation rose to 6.9% in September from 6.3% in August
Central bank expected to raise interest rates
Acquisition Activity: Ayala and Gokongwei groups to merge banks; San Miguel to acquire major cement maker
Bank of the Philippine Islands (BPI) and Robinsons Bank Corp. (RBC) announce merger
San Miguel Corp. to acquire Eagle Cement for USD 1.6B
Startups CloudEats and Shipmates raise USD 7M and USD 2.2M, respectively
Industry Spotlight: Blockchain and cryptocurrency in the Philippines
Binance looks to secure Philippine regulatory licenses through a company acquisition
First PH Blockchain Week to be held from 28 November to 4 December 2022 in Newport World Resorts in Pasay City
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