February 22, 2018, 8:52 pm
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1 Philippine Peso = 0.07045 UAE Dirham
1 Philippine Peso = 2.04297 Albanian Lek
1 Philippine Peso = 0.03415 Neth Antilles Guilder
1 Philippine Peso = 0.38059 Argentine Peso
1 Philippine Peso = 0.02443 Australian Dollar
1 Philippine Peso = 0.03415 Aruba Florin
1 Philippine Peso = 0.03837 Barbados Dollar
1 Philippine Peso = 1.59409 Bangladesh Taka
1 Philippine Peso = 0.0304 Bulgarian Lev
1 Philippine Peso = 0.00723 Bahraini Dinar
1 Philippine Peso = 33.58872 Burundi Franc
1 Philippine Peso = 0.01918 Bermuda Dollar
1 Philippine Peso = 0.02533 Brunei Dollar
1 Philippine Peso = 0.13159 Bolivian Boliviano
1 Philippine Peso = 0.06235 Brazilian Real
1 Philippine Peso = 0.01918 Bahamian Dollar
1 Philippine Peso = 1.2325 Bhutan Ngultrum
1 Philippine Peso = 0.18295 Botswana Pula
1 Philippine Peso = 384.03989 Belarus Ruble
1 Philippine Peso = 0.03832 Belize Dollar
1 Philippine Peso = 0.02429 Canadian Dollar
1 Philippine Peso = 0.018 Swiss Franc
1 Philippine Peso = 11.42605 Chilean Peso
1 Philippine Peso = 0.12152 Chinese Yuan
1 Philippine Peso = 54.88202 Colombian Peso
1 Philippine Peso = 10.87186 Costa Rica Colon
1 Philippine Peso = 0.01918 Cuban Peso
1 Philippine Peso = 1.71801 Cape Verde Escudo
1 Philippine Peso = 0.39493 Czech Koruna
1 Philippine Peso = 3.3921 Djibouti Franc
1 Philippine Peso = 0.11601 Danish Krone
1 Philippine Peso = 0.94226 Dominican Peso
1 Philippine Peso = 2.17652 Algerian Dinar
1 Philippine Peso = 0.24369 Estonian Kroon
1 Philippine Peso = 0.33858 Egyptian Pound
1 Philippine Peso = 0.52177 Ethiopian Birr
1 Philippine Peso = 0.01557 Euro
1 Philippine Peso = 0.03825 Fiji Dollar
1 Philippine Peso = 0.01371 Falkland Islands Pound
1 Philippine Peso = 0.01377 British Pound
1 Philippine Peso = 0.08533 Ghanaian Cedi
1 Philippine Peso = 0.89967 Gambian Dalasi
1 Philippine Peso = 172.74122 Guinea Franc
1 Philippine Peso = 0.14073 Guatemala Quetzal
1 Philippine Peso = 3.9296 Guyana Dollar
1 Philippine Peso = 0.15011 Hong Kong Dollar
1 Philippine Peso = 0.45024 Honduras Lempira
1 Philippine Peso = 0.11584 Croatian Kuna
1 Philippine Peso = 1.216 Haiti Gourde
1 Philippine Peso = 4.85824 Hungarian Forint
1 Philippine Peso = 261.23153 Indonesian Rupiah
1 Philippine Peso = 0.06714 Israeli Shekel
1 Philippine Peso = 1.24329 Indian Rupee
1 Philippine Peso = 22.71245 Iraqi Dinar
1 Philippine Peso = 713.12103 Iran Rial
1 Philippine Peso = 1.9248 Iceland Krona
1 Philippine Peso = 2.40936 Jamaican Dollar
1 Philippine Peso = 0.01359 Jordanian Dinar
1 Philippine Peso = 2.0619 Japanese Yen
1 Philippine Peso = 1.9413 Kenyan Shilling
1 Philippine Peso = 1.3061 Kyrgyzstan Som
1 Philippine Peso = 77.09572 Cambodia Riel
1 Philippine Peso = 7.62709 Comoros Franc
1 Philippine Peso = 17.26453 North Korean Won
1 Philippine Peso = 20.55496 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.01573 Cayman Islands Dollar
1 Philippine Peso = 6.12565 Kazakhstan Tenge
1 Philippine Peso = 158.52676 Lao Kip
1 Philippine Peso = 28.96605 Lebanese Pound
1 Philippine Peso = 2.97621 Sri Lanka Rupee
1 Philippine Peso = 2.45904 Liberian Dollar
1 Philippine Peso = 0.22463 Lesotho Loti
1 Philippine Peso = 0.05848 Lithuanian Lita
1 Philippine Peso = 0.0119 Latvian Lat
1 Philippine Peso = 0.02544 Libyan Dinar
1 Philippine Peso = 0.17647 Moroccan Dirham
1 Philippine Peso = 0.31853 Moldovan Leu
1 Philippine Peso = 0.95396 Macedonian Denar
1 Philippine Peso = 25.47477 Myanmar Kyat
1 Philippine Peso = 45.90946 Mongolian Tugrik
1 Philippine Peso = 0.15451 Macau Pataca
1 Philippine Peso = 6.71398 Mauritania Ougulya
1 Philippine Peso = 0.62536 Mauritius Rupee
1 Philippine Peso = 0.29868 Maldives Rufiyaa
1 Philippine Peso = 13.76098 Malawi Kwacha
1 Philippine Peso = 0.35911 Mexican Peso
1 Philippine Peso = 0.07494 Malaysian Ringgit
1 Philippine Peso = 0.22327 Namibian Dollar
1 Philippine Peso = 6.88663 Nigerian Naira
1 Philippine Peso = 0.59477 Nicaragua Cordoba
1 Philippine Peso = 0.15035 Norwegian Krone
1 Philippine Peso = 1.98703 Nepalese Rupee
1 Philippine Peso = 0.02611 New Zealand Dollar
1 Philippine Peso = 0.00738 Omani Rial
1 Philippine Peso = 0.01918 Panama Balboa
1 Philippine Peso = 0.06229 Peruvian Nuevo Sol
1 Philippine Peso = 0.0629 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11989 Pakistani Rupee
1 Philippine Peso = 0.06472 Polish Zloty
1 Philippine Peso = 106.82716 Paraguayan Guarani
1 Philippine Peso = 0.06982 Qatar Rial
1 Philippine Peso = 0.07256 Romanian New Leu
1 Philippine Peso = 1.0862 Russian Rouble
1 Philippine Peso = 16.12737 Rwanda Franc
1 Philippine Peso = 0.07193 Saudi Arabian Riyal
1 Philippine Peso = 0.14866 Solomon Islands Dollar
1 Philippine Peso = 0.2582 Seychelles Rupee
1 Philippine Peso = 0.34501 Sudanese Pound
1 Philippine Peso = 0.15536 Swedish Krona
1 Philippine Peso = 0.02534 Singapore Dollar
1 Philippine Peso = 0.01372 St Helena Pound
1 Philippine Peso = 0.42597 Slovak Koruna
1 Philippine Peso = 146.36485 Sierra Leone Leone
1 Philippine Peso = 10.78074 Somali Shilling
1 Philippine Peso = 381.75523 Sao Tome Dobra
1 Philippine Peso = 0.16785 El Salvador Colon
1 Philippine Peso = 9.87876 Syrian Pound
1 Philippine Peso = 0.22325 Swaziland Lilageni
1 Philippine Peso = 0.60368 Thai Baht
1 Philippine Peso = 0.04586 Tunisian Dinar
1 Philippine Peso = 0.0428 Tongan paʻanga
1 Philippine Peso = 0.07262 Turkish Lira
1 Philippine Peso = 0.12717 Trinidad Tobago Dollar
1 Philippine Peso = 0.55966 Taiwan Dollar
1 Philippine Peso = 43.06541 Tanzanian Shilling
1 Philippine Peso = 0.51746 Ukraine Hryvnia
1 Philippine Peso = 69.67197 Ugandan Shilling
1 Philippine Peso = 0.01918 United States Dollar
1 Philippine Peso = 0.54556 Uruguayan New Peso
1 Philippine Peso = 156.62766 Uzbekistan Sum
1 Philippine Peso = 478.3426 Venezuelan Bolivar
1 Philippine Peso = 435.71839 Vietnam Dong
1 Philippine Peso = 1.98465 Vanuatu Vatu
1 Philippine Peso = 0.04817 Samoa Tala
1 Philippine Peso = 10.20986 CFA Franc (BEAC)
1 Philippine Peso = 0.05179 East Caribbean Dollar
1 Philippine Peso = 10.20986 CFA Franc (BCEAO)
1 Philippine Peso = 1.85248 Pacific Franc
1 Philippine Peso = 4.79474 Yemen Riyal
1 Philippine Peso = 0.22325 South African Rand
1 Philippine Peso = 99.5492 Zambian Kwacha
1 Philippine Peso = 6.94226 Zimbabwe dollar

Business confidence moderates

Business outlook on the economy turned less optimistic for third quarter of this year, with the overall confidence index (CI) declining to 37.9 percent from 43 percent for the previous quarter, data from the Bangko Sentral ng Pilipinas showed.

This means that the number of optimists declined but continued to be greater than the number of pessimists during the quarter. 

The confidence index is computed as the percentage of firms that answered in the affirmative less the percentage of firms that answered in the negative with respect to their views on a given indicator.

Respondents cited the following factors behind their less buoyant outlook during the third quarter: seasonal factors such as slowdown of business activities during the rainy season, slack in demand during the planting and closed milling season, as well as the closed fishing season in Davao Gulf from July to September; weakening peso; increasing prices; stiffer competition; and, damages and power outages caused by the July 6, 2017 earthquake in the Visayas.

Respondents also cited the Marawi crisis and declaration of martial law in Mindanao, which affected people’s mobility to and in Mindanao.

The sentiment of businesses in the Philippines mirrored the less buoyant business outlook in the US, Canada, The Netherlands, New Zealand, and Thailand but was in contrast to the more bullish views of those in Germany and Hong Kong and steady outlook in France.

For the next quarter, business outlook turned more positive as the CI rose to 51.3 percent from 42.7 percent in the previous quarter’s survey results. 

Respondents’ more positive outlook for Q4 2017 was due to expectations of: uptick in consumer demand during the holiday, harvest and milling seasons; continued rollout of government infrastructure and other development projects; continued increase in orders and projects translating to higher volume of production; expansion of businesses and new product lines; introduction of new and enhanced business strategies and processes; expected favorable weather condition for agricultural products; and positive impact of the proposed tax reform program.

The sentiment of businesses involved in international commodity trading was broadly less favorable for the third quarter as importers and domestic-oriented firms expected lower consumer demand during the rainy season. 

Meanwhile, exporter firms’ outlook was more optimistic for the current quarter. 

For the quarter ahead, the outlook of importers and domestic-oriented firms turned more robust compared to that of the previous quarter. 

Meanwhile, outlook of exporters was steady and that of dual-activity firms was less favorable.

Business sentiment across sectors was less upbeat except for the industry sector particularly in the manufacturing sub-sector, whose views were more favorable for the current quarter. 

Firms’ sentiment across sectors was more buoyant for the fourth quarter.

Respondent firms in the manufacturing sub-sector cited improved market strategies and new product lines as reasons for their optimism, countervailing the less optimistic outlook of firms in the mining and quarrying, agriculture, fishery and forestry, and electricity, gas and water supply sub-sectors.

Meanwhile, construction firms’ outlook for the current quarter was less favorable due largely to the slowdown of construction activities during the rainy season.

For the next quarter, the outlook across sectors and sub-sectors were generally more buoyant due to expected high consumer demand during the Christmas season, inflow of OFW remittances, acceleration of infrastructure development projects and more investments. 

However, the sentiment of the mining and quarrying, and agriculture, fishery and forestry sub-sectors declined slightly for the next quarter due to lower metal prices and closed fishing season from July to September.

The outlook of firms about their own business operations remained positive albeit slightly lower for Q3 2017 compared to that a quarter ago. 

Industry and trade firms expected the volume of their business activities and total orders to grow at a slower rate for Q3 2017 relative to the previous quarter’s survey results. 

In contrast, respondents in the construction and services sectors expected higher growth in their business operations for the same period. For the next quarter, firms across all sectors, except industry, expected the volume of their business activities to step up.

The employment outlook index for the next quarter improved due largely to the more positive sentiment of the services and wholesale and retail sectors offsetting the less optimistic outlook of the industry and construction sectors. 

This suggests that more firms will continue to hire new employees than those that indicated otherwise.

The percentage of businesses with expansion plans in the industry sector for the third quarter decreased slightly to  32.8 percent from 34.6 in the previous quarter. 

Meanwhile, the average capacity utilization for Q3 2017 was slightly higher at 76.7 percent from 75.8 percent in Q2 2017, indicating sustained volume of business activity for the current quarter.

The financial conditions index improved but stayed in the negative territory at -1 percent for Q3 2017 compared to -2 in the previous quarter. 

This means that firms that expected tighter financial conditions outnumbered those that said otherwise during the quarter but those that said so declined compared to a quarter ago. 

Moreover, firms were of the view that their financing requirements could be met through available credit as respondents reported easy access to credit.

The Q3 2017 BES was conducted during the period 3 July - 18 August 2017. There were 1,480 firms surveyed nationwide. 

Respondents were drawn from the combined list of the Securities and Exchange Commission’s Top 7,000 Corporations in 2010 and Business World’s Top 1,000 Corporations in 2015, consisting of 586 companies in NCR and 894 firms in AONCR, covering all 16 regions nationwide. 

The survey response rate for this quarter was lower at 83.6 percent from 83.4 percent in the previous quarter. 

The response rate was lower for NCR at 80 percent from 81.5 percent in the previous quarter but higher for AONCR at 86 percent compared to 84.7 percent in the previous quarter. 
Rating: 
Average: 3 (1 vote)

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