Examining the big issues facing the global economy, Business Daily demystifies the world of money.…
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Its six months since the devastating Typhoon Haiyan hit the Philippines and there are still many people there without homes and livelihoods. But there is a ray of hope for the country. Once the laggard, the Philippines' economy has seemingly turned a corner and is now the fastest growing economy in Southeast Asia. This is due in part to the reforms that have promoted trade and opened up the economy. But much more needs to be done especially to address inequality. The gap between the haves and have-nots is the widest in the region. Linda Yueh speaks to Caesar Purisima, the Finance Minister of the Philippines, to find out what lies ahead for the economy. Also the Asian Development Bank, headquartered in Manila, has offered nearly $1 billion to help. Linda asks its Vice President, Stephen Groff, about the reconstruction challenges and progress. A company with a front seat view on the country is San Miguel. The Filipino company was founded in 1890 and has grown to become the largest beverage conglomerate in Southeast Asia. Its President, Ramon Ang, talks about the role private businesses can play in rebuilding the economy. Plus our regular contributor Lucy Kellaway bares all on a mission to give good business advice
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