MANILA — As of end-March 2007, real estate exposures of universal and commercial banks (U/KBs) declined by 4.6 percent to P210.0 billion. The reduced exposure came from real estate loans (RELs) at P14.4 billion, partly offset by the P4.4 billion expansion of investments in securities issued by real estate companies.
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MANILA — Headline inflation in May slightly rose to 2.4 percent from 2.3 percent in April, bringing the average inflation for the first five months of the year to 2.7 percent. The May inflation was within the 2.1-2.8 percent forecast range of Bangko Sentral ng Pilipinas (BSP) and was substantially lower than the 6.9 percent inflation rate posted a year ago. The minimal increase in inflation was mainly attributable to the uptick in the prices of fuel, light, and water to 4.0 percent from 2.2 percent in April. Month-on-month, inflation went up by 0.3 percent following the 0.2 percent increase in April. Meanwhile, core inflation, which excludes volatile food and energy items, remained steady at 2.6 percent for the third consecutive month.
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MANILA — Malacanang said today that the strong surge of the peso and the stock market will continue as long as the nation moves as one.
Press Secretary and Presidential Spokesman Ignacio R. Bunye said that the seven-year high registered by the peso yesterday and the soaring stock market index augur well for the economy.
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MANILA — Press Secretary and Presidential Spokesperson Ignacio R. Bunye underscored today the importance of providing Filipino students with quality but affordable education as a way of alleviating poverty in the country.
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MANILA — Malacanang said today that hopefully, President Gloria Macapagal-Arroyo?s two-day visit to Lisbon would blaze the trail for cooperation between Portugal and the Association of Southeast Asian Nations (Asean), as well as promote Philippine-Portugal bilateral relations.
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