Philippine exports rise at fastest pace in 15 years—NSO MANILA, Philippines – (UPDATE) The Philippines said Wednesday that exports rose at their fastest pace in nearly 15 years in January as the Southeast Asian nation reaped the benefits of an improving world economy. Exports amounted to $3.58 billion in January, a 42.5-percent increase from the [...]
Biz Progress In perhaps the most bullish projection on the Philippine economy by far, MasterCard Worldwide forecasts it will expand by 5 percent this year, driven by strong remittance flows which it expects to grow by 9 percent. Although other regional and local economists also see growth for the country this year, their projections are [...]
BSP considers cap on property loans to prevent price bubbles THE BANGKO Sentral may ask banks to extend fewer property loans to prevent asset-price bubbles if capital inflows persist, Deputy Governor Diwa Guinigundo told reporters Friday. Lowering the cap on how much banks could lend for real estate “is an option, part of macro-prudential measures” [...]
RP RELATIVELY UNSCATHED BY GLOBAL CRISIS – BSP CHIEF MANILA, JANUARY 3, 2010 (STAR) By Lawrence Agcaoili Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. believes that the Philippine economy was left relatively unscathed by the “financial crisis” that led to a global economic slump. Tetangco said fiscal and monetary reforms adopted by [...]
REIT bill lapses into law; measure to boost capital marts A bill that seeks to give incentives to investments related to financing and the management of big real estate projects has lapsed into law. In a statement, the Philippine Stock Exchange (PSE) said Republic Act 9856 or the Real Estate Investment Trust (REIT) Act is [...]
Real estate loans of banks up 17.5% The exposure of universal, commercial and thrift banks to the real estate sector hit P376.8 billion at the end of the third quarter, up 17.5 percent from P320.7 billion year-on-year. The loans, however, were 0.3 percent lower than P377.8 billion in the second quarter. The central bank monitors [...]
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