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Monday, April 16, 2007 |
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DOTC, DPWH incur huge fines
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Donors penalize govt
for project delays |
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By Darwin G. Amojelar, Reporter
PENALTIES that foreign donors
meted the Philippine government for failing to use available aid
jumped by double-digits, according to the National Economic and
Development Authority (NEDA).
Documents obtained from the
Project Monitory Staff of NEDA showed that commitment fees, which
represent penalties for delayed foreign-assisted programs and
projects, reached $56.57 million at end-2006. This was an 11.4
percent increase from $50.9 million in 2005.
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Philippines’
fuel import costs surge despite drop in purchases
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DESPITE a drop in the country’s
importation of oil, the Philippines had to pay a fifth more for fuel
last year because of soaring prices in the international market.
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Homebuyers,
developers take out more loans from thrift banks
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HOMEBUYERS and property
developers as of the fourth quarter of last year took out more loans
from the country’s thrift banks, as the industry’s exposure to
the real estate sector jumped by more than a quarter...
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Telcos, cement
firms set to enjoy tax perks
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TELECOMMUNICATION and cement
companies are set to enjoy tax perks, after their inclusion in this
year’s Investment Priorities Plans (IPP), the draft of which was
recently submitted to Malacañang for Cabinet deliberations.
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Water service for
BF Homes unlikely soon
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RESIDENTS of BF Homes may have to
wait a while longer before Maynilad Water Services Inc. resumes its
service, as the distributor wants debts incurred by the
subdivision’s water administrator paid first.
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GMA reports profit
decline, citing higher income taxes
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GMA Network Inc. said profits
last year dropped because of a higher corporate income tax rate.
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ABS-CBN mulling
foray into mobile TV
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ABS-CBN Broadcasting Corp. may
venture into digital mobile television (TV) service, a company
executive said.
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Semirara Mining
says earnings plummet on lower demand for coal
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SEMIRARA Mining Corp., the
country’s largest coal producer, said its profits slumped last
year as demand for coal dipped even as costs rose.
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PAL seeks to
prepay some debts this year
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PHILIPPINE Airlines, the
country’s flag carrier will prepay part of its outstanding debt
this year, its chief operating officer said.
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MANAGING FOR SOCIETY
By Evelio G. Echavez
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Corporate
citizenship: top managements’ responsibility
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While growing up, our elders and
teachers counsel and admonish us to become responsible citizens.
There are several ways to manifest responsible citizenship.
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