by: Sarah Joson
Friday, December 16, 2011 | Outsourcing News |
UBS Investments Research Executive Director Jody Santiago said the country is becoming a “safe haven”, attracting investors amidst the economic and political problems. However, the current economic crisis in Europe and higher appraisals of stock might affect the early part of the incoming year.
Meanwhile, the one-year target for the Philippine Stock Exchange Index (PSEi) was set at 4,700 by the local unit of the Swiss banking giant, a 10-percent increase from Wednesday’s closing. This corresponds to UBS Investments’ projected Philippine corporate earnings for 2012, while it is predicted that the economic growth will reach 3.3 percent next year.
UBS Investments also said they favor companies that are doing well and have doable strategies for the firm’s rate cut of 50 basis points next year. The industries that they prefer are infrastructure, tourism, mining, business process outsourcing (BPO), as well as the telecommunications sector.
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