Accelerates growth

The Philippine economy is showing signs it would begin posting “positive” growth in the first three months of 2021, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. During the Rotary Club of Manila’s virtual membership meeting, BSP Governor Benjamin Diokno said that although growth in the past quarter would remain “slightly negative,” he thinks “the first quarter of this year will be positive.” This, he added, is based on the results of the central bank’s latest surveys indicating improved optimism of businesses and consumers. He told the meeting that the country’s overall business confidence index accelerated to 10.6 percent in the last three months of 2020 from -5.3 percent in July to September, and the overall consumer confidence index improved at -47.9 percent in October to December from -54.5 percent in the third quarter. The seasonally adjusted Purchasing Managers’ Index — a key indicator of manufacturing activity — rose to 49.9 in November, just shy of the ... » Learn More about Positive PH growth expected in Q1

THE International Monetary Fund (IMF) on Tuesday raised its growth forecast for the Philippine economy this year as the country bounced back in the latter part of 2020. Yongzheng Yang, IMF resident representative to the Philippines, cited the April 2021 update of the Washington-based financial institution’s World Economic Outlook (WEO) in saying the country’s gross domestic product (GDP) is now seen to grow at 6.9 percent. This was an upward revision from the 6.6-percent GDP growth that the IMF projected in January. It was also higher than the 6.5 to 7.5 percent official growth target of the government. In updating its growth projection, the IMF noted the Philippine economy ended 2020 with “stronger-than-expected” growth in the fourth quarter. “This momentum signals a stronger recovery this year,” Yang said in an e-mail response. “The increased fiscal stimulus in the 2021 budget should also help boost economic activity.” “Taking into account the unused Bayanihan II funds ... » Learn More about IMF raises PH growth outlook to 6.9%

SINGAPORE - While massive fiscal and monetary support have helped to stabilise the global economy, countries also have to deal with longer-term structural challenges that have been accelerated by the Covid-19 pandemic, Deputy Prime Minister Heng Swee Keat said. Speaking at the meeting of Group of 20 (G-20) finance ministers and central bank governors on Wednesday (April 7), Mr Heng, who is also Finance Minister, said that curbing the spread of the virus takes top priority. In a Facebook post recapping the virtual meeting, DPM Heng said: "When conditions are right, countries should also work together to open borders safely. But we should look beyond the immediate term." One long-term challenge countries have to deal with is climate change, he added, saying that building a lower carbon future is key. At the conference, chaired by Italy, he expressed Singapore's commitment to contribute to the newly re-established G-20 Sustainable Finance Study Group co-chaired by the United ... » Learn More about Countries must deal with structural challenges accelerated by pandemic, DPM Heng says at G-20 meeting

Despite the mass disruption to production lines and supply chains caused by Covid-19, consumer technology devices 5G smartphones, video streaming devices and voice control smart home devices remain resilient. The home networking device market saw shipments accelerate in 2020. Global tech market advisory firm ABI Research reports consumer devices supporting ultra-wideband (UWB) connectivity, including cellular devices, smart home appliances and automotive will reach 286 million units in 2021. According to ABI, 1.15 billion 5G smartphones will be shipped while the wearable and true Lynn noted ultra-low-power machine learning (ML) chipsets and devices supporting UWB are among the major consumer technologies that will take off this year. While the total smartphone market saw 8.5-percent shipments decline in 2020, significant growth was witnessed in the 5G smartphones sector. ABI forecasts that the 5G smartphone market will grow at a compound annual growth rate (CAGR) of 43 ... » Learn More about Setting up for postpandemic growth

GENEVA: The United Nations Conference on Trade and Development (Unctad) on Thursday (Friday in Manila) said it expected the global economy to expand by 4.7 percent this year, but warned that preexisting conditions have worsened, which could dampen the outlook. The Geneva-based UN trade and development body lifted its global growth forecast for 2021 from 4.3 percent it had predicted in September, saying that the stronger recovery was boosted by the progress in vaccine distribution and the fresh $1.9-trillion fiscal stimulus in the United States. In its “Out of the frying pan… Into the fire?” trade and development report, Unctad, however, cautioned that this would still leave the global economy over 10 trillion US dollars short of where it could have been by the end of 2021 if it had stayed on the prepandemic trend. In comparison, the International Monetary Fund in its latest World Economic Outlook in January forecast global growth of 5.5 percent in 2021 and 4.2 percent in 2022. ... » Learn More about Unctad sees 4.7% growth in 2021

As the core product of the cannabis industry is largely illegal, yet it managed to grow to the highest level in the past few months. Canopy Growth Corporation believes that by the second half of 2022 the profits of Cannabis industry will surge to more heights. “We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S.,” stated by the CEO David Klein. Canada and the U.S are leading marijuana investments whether that be for sporting or therapeutic use, yet clearly all together for this industry to arrive at its maximum capacity, legalization should be accomplished on the government level. Nonetheless, cannabis investors are confident that the new liberal drove legislature of the United States will probably be more obliging to the business, which woefully needs higher benefit edges. The CEO of Canopy Growth Corporation anticipates the legalization of ... » Learn More about Canopy Growth Stocks Surges 12% as More People Invest into Cannabis

Indonesia's economy grew at a stronger-than-expected rate of 5.18 percent year-on-year (yoy) in the second quarter, marking an increase from 4.92 percent recorded in the first quarter. According to Central Statistics Agency (BPS) head Suryamin, the country’s economic growth is on an accelerating trend. The economy grew by 4.66 percent in the second quarter of 2015 and by 4.96 percent in the same period of 2014. In a quarter-to-quarter (qtq) comparison, the domestic economy expanded by 4.02 percent in the second quarter of this year, an improvement from the same period last year, when growth was 3.75 percent qtq, Suryamin said. "As a consequence of El Nino at the end of 2015, the harvest period was pushed back to the second quarter. At the same time, Ramadhan […] also fell in the second quarter," he explained at the press conference on Friday. The agriculture sector grew most significantly in the second quarter, while rising demand during Ramadhan and in the days approaching the ... » Learn More about Indonesia’s economy surprises with growth of 5.18%

2020 was a record year for the global wind power industry, but a new report published by GWEC warns that the world needs to install new wind power capacity three times faster over the next decade to achieve global climate targets. BRUSSELS , March 25, 2021 /PRNewswire/ -- 2020 was the best year in history for the global wind industry with 93 GW of new capacity installed – a 53 per cent year-on-year increase - but a new report published by the Global Wind Energy Council (GWEC) warns that this growth is not sufficient to ensure the world achieves net zero by 2050. According to the Global Wind Report 2021, GWEC's 16 th annual flagship report, the world needs to be installing wind power three times faster over the next decade in order to stay on a net zero pathway and avoid the worst impacts of climate change. Through technology innovations and economies of scale, the global wind power market has nearly quadrupled in size over the past decade and established itself as one of the ... » Learn More about GWEC: Global wind power growth must triple over next decade to achieve Net Zero

People visit the Terminal 21 shopping centre for shopping on Dec 31, 2020. (Reuters photo) Thailand's economy is expected to grow 3.4% this year, down from the 4% projected earlier, and the recovery would be gradual amid high uncertainties and weak tourism, the World Bank said on Friday. Thailand's tourism-reliant economy shrank 6.1% last year, its deepest slump in over two decades, with tourism battered by the impact of the coronavirus pandemic. The government still has room to support the economy, which is expected to return to pre-Covid-19 levels in 2022, Kiatipong Ariyapruchya, senior country economist for Thailand, told a briefing. "Fiscal policy remains key to shore up the economy this year and next," noting the country's public debt was not too high. On Friday, Prime Minister Prayut Chan-o-cha told reporters the government aimed to achieve GDP growth of 4% this year and in 2022 by accelerating investment and spending as planned. He asked the private sector and the ... » Learn More about World Bank cuts Thai GDP growth outlook to 3.4% this year

TECH hub developer Cyberview Sdn Bhd has taken in five new startups into its Cyberview Living Lab Accelerator (CLLA) programme to continue fast-tracking the development of high-tech, innovative solutions for property and education. These start-ups are Roomah, Pandai, Synapse Innovation, LinkUp Smart Solutions, and Move Robotic. Over the course of the five-month programme, these companies will fast track the development and commercialisation of high-tech, innovative products and solutions across their target fields including property and education. “Winning the digitalisation race requires companies to embrace a forward-looking, growth mindset and formulate a bold digital strategy at a rapid pace. Our accelerator programme offers startups opportunities as well as necessary access to create an edge for themselves among what is already a competitive landscape. “As a tech hub developer, we nurture tech startups to directly contribute to a more vibrant tech ecosystem here in ... » Learn More about Latest cohort for accelerator programme