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Philippines balance of payment surplus increased in June from the previous month. The balance of payments surplus totaled US$502 million in June, up from US$388 million surplus in the previous month, the central bank said on Monday. A year earlier, the balance of payments surplus amounted to US$73 million. More . . . → Read More: Balance of payments Building permits granted for housing construction in thePhilippines rose 20.3% year-on-year in the March quarter to 23,586, figures released by the National Statistics Office show. At the same time, permits for non-residential building constructions went down by 28.8% to 2,978. Permits for additions, alterations and repairs to buildings dropped 1.9% annually to 3,428. More from RTT Southeast Asian emerging . . . → Read More: Good news on Economy The One Network Bank (ONB), the widest banking network in Mindanao, has announced plans to expand by the end of next year to the neighboring island of Mindanao, confident of its solid financial footing and the vibrant economic activity it has infused in the Mindanao countryside. The Philippines’ shipments of electronics, its dominant export, could still grow by 25 to 30 percent this year but there were signs of softer demand due to faltering global growth, the head of an industry group said on Tuesday. The country exported $2.55 billion of electronics in May, up 41 percent from a year earlier and accounting . . . → Read More: Electronics Philippines’ merchandise exports increased at a faster pace in May, a latest report for the National Statistical Office showed on Tuesday. Merchandise exports increased 37.3% year-on-year to US$4.24 billion in May, faster than 28.2% in the previous month. Exports increased for the seventh consecutive month. A year earlier, exports decreased 26.9%. Month-on-month, merchandise exports climbed 17.9%, compared . . . → Read More: Merchandise exports increased Philippine ffor a third day after the government boosted its forecast for this year’s budget deficit and said it may step up debt sales. The securities had their longest four-year bonds fell losing streak in two months after the government on July 9 widened the deficit estimate to 325 billion pesos ($7 billion), from 297.2 billion . . . → Read More: four-year bonds fell Philippine share prices hit a fresh 29-month high on Thursday following the overnight rally in Wall Street that was driven by bullish earnings forecasts. At the Philippine Stock Exchange, the local composite index rose 48.08 points, or 1.44 percent to 3,398.16–its highest since January 15, 2008 when it closed at 3,447.29. The broader all-shares index went up 23.85 . . . → Read More: Philippine Stock Exchange Price increase in almost all commodity groups slowed down in June, causing the Philippines’ inflation rate to go down to 3.9 percent from 4.3 percent in May. The only groups which registered price increases were food, beverages and tobacco, according to the National Statistics Office. Bangko Sentral ng Pilipinas Gov. Amando Tetangco Jr. pointed out last month’s . . . → Read More: Philippines’ inflation rate Outstanding loans of Philippine commercial banks, net of banks’ reverse repurchase placements with the central bank, grew at a faster pace of 8.1% in May, following previous month’s expansion of 6.7%, the Bangko Sentral ng Pilipinas reported Wednesday. The growth of bank lending, inclusive of reverse repurchase placements, also increased 7.7% compared to 6.2% in April, to reach . . . → Read More: inflation at a seven-month low SECURITY Bank Corp. will open five new branches outside Metro Manila during the third quarter as part of its ongoing program to expand its nationwide network. Its newest branch was opened recently in Tagum City. It now has 125 branches across the country. “We are seizing opportunities to extend our reach and widen our grasp in the market . . . → Read More: SECURITY Bank Corp |
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