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US bank says RP may profit from global crisis.
Byline: Doris C. Dumlao
THE BANK OF NEW YORK Mellon, a global leader in asset management and securities servicing, sees the Philippines to be in good shape, capable of hurdling, and even profit from, the global financial crisis.
The Philippines is inherently strong, a potential beneficiary of these financial woes, BNY Mellons chair for Asia Pacific Christopher Sturdy said in an interview with the Inquirer yesterday.
Sturdy, who assumed the post in June and is visiting the Philippines for the first time, cited the countrys adequate foreign exchange reserves, a sustained current account surplus driven by remittances from overseas Filipino workers, and …
