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Tuesday, April 24, 2007 |
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Govt looks to sell San Miguel,
Meralco shares to raise more funds
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Budget-deficit
ceiling breached |
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By Angelo S. Samonte, Reporter
THE Philippines’ budget deficit
in the first quarter breached the government’s ceiling for the
period, as revenues failed to keep pace with expenditures.
If this persists, the government
would have to borrow more money or cut expenditures or do both to
stay within its programmed full-year deficit ceiling for this year.
Borrowing more money risks jacking up interest rates, while a
reduction in government spending may slow down economic expansion
and job generation.
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 Full
Story>>
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Old Iloilo airport
auction postponed
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The Department of Finance has
cancelled the April 24 bidding of the old Iloilo airport and
rescheduled it to May 9, adding it needs more time to iron out
important issues.
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Story>>
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SM Prime sees
profit rising by double-digits
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SM Prime Holdings Inc. said
profits this year are poised to grow by double digits, as the
Philippines’ largest mall developer and operator saw first-quarter
revenues rising by a quarter.
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Energy prices
inching up, says regulator
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THE Energy Regulatory Commission
(ERC) said electricity prices at the spot market have been on the
rise in view of the unusually high demand brought on by the extreme
summer heat.
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Full
Story>>
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Cement use picking
up on expanding economy
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Cement consumption picked up in
the first quarter brought on by the strengthening economy, growth in
consumer spending and low interest rates, the Cement Manufacturers
of the Philippines announced Monday.
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Story>>
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IPPs told to set
sights on overseas markets
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The Department of Energy has
encouraged Philippine companies to push independent power producer (IPP)
contracts in the Middle East in light of their success in the local
power industry.
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Story>>
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Music
Semiconductors plans to raise capital
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MUSIC Semiconductors Corp.
announced it would raise additional capital for the development of a
new product that would make speed up the process of searching and
matching of IP addresses.
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Full
Story>>
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PNOC eyes Bulacan
site to replace Pandacan oil depot
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AGROUP of European investors is
keen on establishing a receiving terminal in Pulilan, Bulacan, as an
alternative to the oil depot in Pandacan, according to a
high-ranking source from Philippine National Oil Co. (PNOC).
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Story>>
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Telcos buck new
NTC stickers
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MOBILE-PHONE industry players are
bucking a plan to require dealers and suppliers to pay a fee before
selling units, adding this is a form of taxation.
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Full
S tory>>
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CebuPac seeking
Japan air routes
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CEBU Pacific has asked the Civil
Aeronautics Board (CAB) to reallocate its flight entitlements to
Japan.
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Share prices at
two-month high
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PHILIPPINE share prices closed
higher Monday on expectations of better corporate earnings for the
first quarter, dealers said.
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Aboitiz buys Cebu
power plant
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ABOITIZ Power Corp. (APC) and
Vivant Energy Corp. have acquired majority of the shares in one of
Cebu’s largest power plants.
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Story>>
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BIZZFIZZ
By Rene Martel
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Fil-Estate tie up
with Hong Kong investors
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IT was a relaxed and buoyant Fil-Estate
chairman Robert John Sobrepeña who we met up with at the Lobby
Lounge of the Makati Shangri-La. And the guy sitting alongside him
doing battle over a plate of dim sum...
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