Philippines

The Philippines insurance industry is poised for strong growth from a low base, being ranked as the third-smallest insurance market in the East Asian region. Penetration levels of just 14% indicate that there is considerable room for expansion. Sectoral figures are lobbying, with some success, to rewrite existing regulations, which they feel impose burdensome tax costs on the industry. Other...

The Philippines Stock Exchange (PSE) was the best-performing index in Asia in 2011, although it could not match the incredible 37.6% growth it displayed in 2010. Still, the bourse managed to close out the year 4.1% higher, thanks largely to the strong performance of the mining and oil counter. Now managers of the PSE, which is the smallest of South-east Asia’s major stock markets, want to...

The Philippines’ well-capitalised banks enjoyed strong profit growth in 2011, and excess liquidity is the main worry at this point. Much-hyped PPP projects could be a fillip for the sector, providing an avenue for lending. A number of factors point to consolidation in the sector, include the labour intensiveness of Philippines banking, rising capital requirements, and merger incentives from the...

The Philippines, which was once a diverse mix of sultanates and rajahdoms, was politically unified by the Spanish conquest of the 16th century. Spain ruled until a Filipino rebellion in 1898 ousted them with the support of the US, which subsequently asserted control. The Philippines gained independence after WWII, but dictator Fernando Marcos soon took over, ruling until 1986. Electoral democracy...

The Philippines, an archipelago of 7107 islands in the western Pacific Ocean, has a complex history of human habitation and imperial conquest. Three centuries of Spanish occupation left their impression on the country’s food, language, and religion, with the population now over 90% Roman Catholic. US influence dominated in the 20th century, thanks to several decades of US control, and English and...