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By Cecille Suerte Felipe | June 4, 2011 - 12:00am
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The Philippine banking industry booked a net profit of P208.39 billion in the first half, up by 5.2 percent from P198.14 billion in the same period last year, as stronger interest earnings offset higher operating costs.
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The entry of imported meat into the country reached over 870,000 metric tons in the first half of the year, driven by rising pork shipments.
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The Association of Southeast Asian Nations Plus 3 Macroeconomic Research Office has maintained its growth forecasts for the Philippines for this year and the next, even as it lowered its inflation outlook for the year.
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President Ferdinand Marcos Jr. on Monday, July 27, announced that the Philippines is set to conduct a rocket launch test in Cagayan next year in partnership with a South Korean aerospace company, as the administration pushes to establish the country's foothold in the space industry.
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The new line is planned to run from North Avenue to Sacred Heart, reaching San Jose del Monte, Bulacan.
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