Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Sun Life unit sees further PHL recovery

by
June 30, 2022
in Investing News
0
Sun Life unit sees further PHL recovery
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

THE PHILIPPINES is set to recover over the course of the year even in the face of rising inflation and global supply chain disruptions, with the economy boosted by election spending and the restoration of much business activity as movement restrictions ease, Sun Life Investment Management and Trust Corp. said.

“Fundamentally, the Philippines continues to be strong despite inflation and interest rate headwinds. We’ve been seeing mobility continue to be sustained in spite of certain COVID-19 scares,” the company’s President and Chief Investment Officer Michael Enriquez said in an update of the Sun Life Investment macroeconomic outlook.

The company projects gross domestic product growth of between 6.3% and 10% this year.

“I think the people are starting to become immune, not only from the virus, but (from the fear of) COVID-19, because they really want to get on with their lives and livelihood.”

Increases in the COVID-19 case count have been small, he added, which suggests the reopening of the economy will proceed.

Growth is still expected because demand for key goods in the consumption-driven economy is inelastic, Mr. Enriquez said, meaning that buyers are less likely to be deterred by price increases.

“There has been some confidence already on expansion (and) borrowing by consumers, so definitely, spending is there,” he added, “despite these global headwinds, domestically our economy is okay.”

Mr. Enriquez said that there is also room for investment to grow, particularly on the Philippine Stock Exchange index (PSEi).

“The PSEi is cheap right now… so in terms of risk-reward, there’s a higher upside potential at these levels for the PSEi… compared to downside risk.”

Mr. Enriquez added that “markets generally move higher during Presidential election years.”

The company sees the peso trading at P51-53 or P52-54 by the end of the year and expects the Bangko Sentral ng Pilipinas to tighten policy by up to 75 basis points by the end of 2022. — Diego Gabriel C. Robles

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Debt-to-GDP ratio projected to peak at 66.8% in 2023

Debt-to-GDP ratio projected to peak at 66.8% in 2023

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Fitch Solutions raises 2022 PHL GDP forecast to 6.6%

Fitch Solutions raises 2022 PHL GDP forecast to 6.6%

August 11, 2022
Usain Bolt moves to trademark signature victory pose

Usain Bolt moves to trademark signature victory pose

August 23, 2022
May Congress delimit through legislation the constitutional coverage of ‘public utilities’

May Congress delimit through legislation the constitutional coverage of ‘public utilities’

July 4, 2022
PHL posts 43.2% jump in deaths in 2021; births decline 10.7%

PHL posts 43.2% jump in deaths in 2021; births decline 10.7%

August 14, 2022
Cebu Landmasters plans to offer up to P8-B bonds

Cebu Landmasters plans to offer up to P8-B bonds

June 21, 2022
Shakey’s Pizza group rolls out plant-based menus

Shakey’s Pizza group rolls out plant-based menus

July 27, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.