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MAKATI CITY
Makati City is one of the most important cities in the Philippines in terms of finance and commerce. Situated east of the capital, Manila, Makati is one of the cities and municipalities that comprise Metro Manila, the National Capital Region. Makati is often referred to as the Financial Capital of the Philippines since many companies have their offices and headquarters in the city. Makati is also home to the influential Makati Business Club and the Philippine Stock Exchange. Ayala Avenue, running through the heart of the Central Business District is often called the Wall Street of the Philippines.Makati is noted for its highly cosmopolitan culture. Many expatriates live and work in the city. Makati is also home to many first-class shopping malls such as Ayala Center and Rockwell Center. The city also has many of the country's five-star hotels like The Peninsula Manila, the Mandarin Oriental, the Shangri-la Makati Hotel, New World Rennaisance Hotel, Intercontinental Hotel Manila, and Dusit Hotel Nikko.
Makati came from the Tagalog word kati, which means tide. This primarily refers to the rise and ebb of the tide of the Pasig River on the city's northern border. The river drains into Manila Bay to the west and it was also known as San Pedro Macati during the Spanish era.
Today the city is one of the most modern cities in the country. However, it faces challenges due to the disparate gap between the new city in the west, which contains the Central Business District, and the old city in the east, which is largely poor and where most of the city's slums are located.
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