Before the market opens - June 26, 2007

US Economy : Existing Home sales approach 4 year low
The Dow Jones Industrial Average (DJIA) was flat and was down by only 8.21 points. It closed at 13,352.05

Chinese shares fall 3.68% yesteray on fears of the possibility of another interest rate hike.



In the news:

The Philippine Government saved PhP 14.6 bn in the first five months of 2007 owing to a prevailing favorable interest rate environment locally and abroad that allowed debt service payments to drop by 9% to PhP 327.85 bn this year from PhP 360.58 bn in the same period last year.

Interest payments: PhP 123.15 bn
local/domestic lenders: PhP 65.97
foreign creditors: PhP 57.18
Principal payments: PhP 204.58 bn
domestic loans : PhP 182.74 bn
foreign loans: dollar equivalent of PhP 21.95 bn
BusinessMirror - June 26, 2007




Tourist arrivals hit the 1 million mark in the first four months (January to April)of 2007. The total of 1,034,329 is a 7.1% increase compared to the same period last year (965,853).

Over PhP 100 bn investments in tourism related projects have been made in the Philippines since 2005.

Investments in Philippine Economic Zone Authority (PEZA)economic zones as of June 13, 2007 hit PhP 69.082 bn whichs is 201% higher than the PhP 22.906 bn approved during the same period last year.