Lucelle G.

Fortades
BSA-3B
GDP to grow 6.4% in 2016 Stanchart
SOURCE: http://www.mb.com.ph/gdp-to-grow-6-4-in-2016-stanchart/#IrEvPyzksYR6sOF4.99

The Philippine economy is seen to rise to a GDP growth of 6.4 percent this year from 5.9 percent in 2015 and
will slow down a bit to six percent by 2017 despite the fading downside risks to domestic growth, according to
British multinational bank Standard Chartered Bank.

The banks economist Jeff Ng said the country is in a transition period and that President Rodrigo Duterte is in
fact inheriting a booming economy. The new governments 8-point agenda, now 10, signals a continuity from
the previous administration such as keeping a five percent spending target for infrastructure.

While Stancharts 6.4 percent 2016 GDP forecast is lower than the inter-agency Development Budget
Coordinating Committees 6.8-7.8 percent growth target, Ng said domestic growth momentum should persist
throughout 2016.

He said household consumption will remain supported by lower unemployment rate and the second-round
effects of election-related spending. He noted that state expenditures are rising and he sees growth as broad-
based with a solid services sector. Public-sector construction momentum is strong, while manufacturing
growth is also improving due to robust domestic demand.
Ng also stressed the downside risks to growth despite it being buoyant especially in the current account side.
He sees divergence between domestic and external demand to continue for the rest of the year.

2016 is likely to be a year of changing current account drivers for the Philippines, said Ng. The IT business
process outsourcing sector will contribute the biggest in the current account inflows beginning in 2017, for one.

However, remittance inflows will likely to continue to be sluggish. Remittance growth is slowing as the number
of outgoing overseas workers stabilizes and overseas income is impacted by a sluggish global economy and a
strong peso. Even so, remittances should continue to add more than six percentage points to the current
account surplus (as a percentage to GDP) in the next four years, said Ng.

In addition, Ng said inflation average could end at 1.8 percent for 2016 (from 1.4 percent in 2015), 2.9 percent
in 2017 and 3.3 percent in 2018. This is anchored on a steady central bank policy rate of three percent and a
peso-US dollar exchange rate of P47.50.

We expect inflation to move to the bottom end of the central banks target range (2-4 percent) in the coming
months (but) food inflation is showing signs of picking up, he said.

As for the Bangko Sentral ng Pilipinas monetary policy stance, Stanchart expect a neutral policy for the rest of
the year particularly after shifting to an interest rate corridor framework last June. (The) result (is that) money
market rates should move towards the policy rate as the year progresses.

Ng also noted that with the IRC, the BSP will reduce banks reserve ratios in the second half to 15 percent from
20 percent to flush the system with more liquidity. This should balance the effects of the IRC. We expect the
BSP to keep the policy rate unchanged at three percent (2016) owing to balanced growth and inflation risks.
Lenjoemae F. Suazo
BSA-3B
ADB readies $770-million additional loans to PH
Read more at http://www.mb.com.ph/adb-readies-770-million-additional-loans-to-ph/#2XvV4Ci3ULEYqd5c.99
The Asian Development Bank (ADB) is preparing additional loans for the Philippine government to support the Duterte
administrations economic agenda.

In a statement, the Manila-based institution said the bank is readying $770 million in additional loans for the remaining
months of 2016 to fund projects related to youth employment, local government financial management, and road
improvement in Mindanao.

Likewise, ADB said they are ready to make additional increases to assistance in the coming years and looking for
opportunities to increase its non-sovereign operations, which include loans, equity investment, and guarantees to the
private sector.

On Wednesday, ADB President Takehiko Nakao met with President Rodrigo R. Duterte to discuss how the institution can
support the new administrations efforts in promoting sustainable growth, reducing poverty, and increasing transparency in
government affairs.

Nakao then commended Dutertes early efforts to consult the private sector, civil society, and other partners to ensure a
level playing field for all businesses, and uplift the lives of poor Filipinos, a fourth of the countrys population.

I was very impressed with President Dutertes clear messages on building confidence on public service delivery,
respecting contracts and transactions already approved and awaiting implementation, removing red tape, and fighting
corruption, Nakao said.

He also expressed ADBs strong commitment to supporting the governments 10-point Economic Agenda.

High priority will be given to supporting peace and development in Mindanao via road infrastructure rehabilitation,
promotion of small- and medium-sized enterprises, and local government capacity building, ADB said.

ADB is collaborating with the Mindanao Development Authority, the Autonomous Region in Muslim Mindanao, and the
Bangsamoro Development Agency, and other stakeholders.

In the first half of 2016, ADB approved loans for the Philippines amounting to $583 million for conditional cash transfers,
water transmission improvement to Metro Manila and the vicinity, and water supply development in various municipalities.

ADB provided its first loan in the Philippines in 1969 to support private enterprise development, followed by a loan to
support agriculture and rural development in Mindanao.

Since then, it has provided $15.9 billion in sovereign loans, $1.6 billion in nonsovereign operations, and $92 million in
technical assistance. In the aftermath of super-typhoon Haiyan (Yolanda) in 2013, ADB provided $900 million for typhoon-
affected areas.

ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally
sustainable growth, and regional integration.

Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by
67 members 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including co-financing of $10.7 billion.
Carlo G. Lamberte
BSA-3B
Microsoft offers innovation for stronger security of
businessess
SOURCE:http://www.mb.com.ph/microsoft-offers-innovation-for-stronger-security-of-businessess/#yYy6xo5AKjJpGZLu.9

Toronto With the rise in cybercrimes and attacks, Microsoft yesterday announced further
innovations and expanded offering to its cloud service providers (CSP) allowing businesses stronger
security and control over their data.

Yusuf Mehdi, Microsoft vice-president for Windows and Devices Group, told over 15,000 attendees
on the second day of the Worldwide Partner Conference 2016 here of new opportunities for partners
across Windows, Surface, Surface Hub and Microsoft HoloLens.

Mehdi said it is making available Windows 10 Enterprise E3 for CSP. Starting this August, he said,
businesses can get enterprise-grade security and management capabilities at just $7 a seat per
month for the first time through the Cloud Solution Provider channel to help more customers enjoy the
benefit of increased security, simplified licensing and partner-managed IT.

CSP partners will be able to provide a subscription to Windows 10 Enterprise Edition as part of a
managed service offering, which is ideal for businesses who do not have dedicated IT resources or
limited IT staff, and want their licensing and IT needs managed by a trusted and experienced partner.

Partners can now offer their business customers the full IT stack from Microsoft, including Windows
10, Office 365, Dynamics Azure and CRM as a per user, per month offering through a single channel,
which businesses can scale up or down as their needs change.

Mehdi highlighted the increased and sophisticated security features of Windows 10 to help
businesses secure sensitive data and identities, help ensure devices are protected from cybersecurity
threats, give employees the freedom and flexibility to access sensitive data on a variety of devices,
and help ensure controlled access to highly-sensitive data.

According to Mehdi more businesses are now running on Windows 10 for security reasons.

More than 350 million active devices are running Windows 10 and our business customers are
moving faster than ever before, with more than 96% of them in active pilots. And, Windows 10
customers are already experiencing improved productivity and cost savings with an average ROI of
188% with a 13-month payback, he said.

But in most instances, he said, organizations are moving quickly to Windows 10 due to the
heightened security risks they face and the industry-leading security features in Windows 10 that can
help protect them.