Business optimism in the Philippines dropped to its lowest quarterly rating in two years, even though it still scored higher than the average rating in Southeast Asia, data from a global survey showed.

This was according to the Grant Thornton International Business (IBR) report, which interviewed more than 2,500 top business officials from all industry sectors in February and March. Among other questions, the survey asked officials for their business optimism in the country’s economic outlook for the next 12 months.

In this regard, the Philippines had a net score of 74 per cent in the first quarter of the year, lower than its 98 percent score in the same first three months of 2017.

This was also lower than the net score it got in the fourth quarter of last year of 86 per cent. This was the lowest the country has gotten since 2016, wherein it recorded a business optimism of 56 per cent, data showed.

In its statement, Grant Thornton said the drop in business optimism could be attributed to a decline in employment expectations and investments in plant and machinery, decrease in investments in technology and demand, and the drop in terms of profitability expectations.

These were declines when compared to their performance either in the first quarter of last year or in the fourth quarter of 2017. – Philippine Daily Inquirer

Indonesia braces for rising oil prices

As oil prices continue to rise, the Indonesian government is set to push for more subsidies for those in need in an attempt to stabilize the economy.

Finance Minister Sri Mulyani Indrawati said that the rising price of oil would put pressure on the economy as a hike in fuel prices would likely lead to a hike in prices of other goods. On the other hand, the government would obtain more revenue from oil exports and tax.

“We will redistribute the additional revenue from the oil and gas sector to the poor who will be affected the most by the rising prices,” she said during a press conference with the Financial System Stability Committee (KSSK) at the Bank Indonesia (BI) office in Jakarta.

She added that the government had increased the number of beneficiaries of the Family Hope Program (PKH) to 10 million families compared to 6 million in 2017. The number would be further increased to 15 million in 2019. “We will increase government intervention for the poor so they can get access to health care and education,” she said. – The Jakarta Post

MAB warns against illegal use of its trademark

Malaysia Airlines Bhd (MAB) has warned that it would take action against the unlawful use of its registered trademark. In a statement, the MAB said its logo and name was a registered trademark belonging exclusively to the Malaysia Aviation Group (MAG).- The Star