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Tuesday, April 03, 2007

 

All-time low for 91-day debt issue

By Angelo S. Samonte, Reporter

Strong demand for short-term government securities has prompted the government to increase its total volume issued to accommodate investor appetite during Monday’s auction.

Average interest rate for the 91-day T-bills dipped to an all-time low of 2.860 percent, 13.8 basis points less than the previous rate of 2.998 percent two weeks ago.

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O T H E R   R E P O R T S

 

With just hours to go, the United States and South Korea on Monday reached a free-trade agreement that scraps tariffs on a huge range of items but excludes rice, as Seoul had demanded.

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The Department of Finance has set a P900-million floor price for the asset disposal of Al-Amanah Islamic Investment Bank of the Philippines.

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Credit expansion could improve the growth of the Philippines’ gross domestic product this year, according to the latest Asian Economic Monitor report of UBS.

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The Japanese government extends a hand to Filipino farmers living below the poverty line through a loan grant intended to boost yields from their produce.

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Listed company information technology company IPVG Corp. announced it would be selling additional shares.

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The number of passengers traveling by sea dropped last year owing to higher fare and the preference of travelers to use budget airlines and roll-on roll-off (ro-ro) vessels, the Philippine Ports Authority reported.

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The net income of Trans-Asia Oil and Energy Development Corp. (TA Oil), a unit of the Phinma group, jumped three-fold last year compared to the previous one mainly due to the acquisition of CIP II Power Corp....

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BIZZFIZZ
By Rene Martel

FOR several hours on Thursday last week the Philippines unwittingly held center stage on the global village—but it was publicity that the nation could have done well without.

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