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Saturday, August 11, 2007 |
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Shortfall despite firms’ higher
earnings
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BIR misses
first-half corporate tax target |
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By Angelo S. Samonte, Reporter
DESPITE robust profit reports by
the Philippines’ listed companies, the Bureau of Internal Revenue
(BIR) failed to meet its corporate tax collection goal in the first
six months of the year.
First-half corporate and
withholding taxes combined increased by 17.7 percent compared to the
figures registered during the same period last year.
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Subprime woes may
not touch RP banks
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LOCAL banks have limited exposure
in the United States subprime lending crisis and any effects on the
domestic financial system will be limited, the Bangko Sentral ng
Pilipinas (BSP) said.
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Electronics slowed
June exports
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PHILIPPINE exports rose at their
weakest pace in June owing to a drop in electronics shipments, which
is the country’s top earner, the government reported Friday.
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Foreign
investments dipped at end-May
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FOREIGN direct investments (FDI),
which represent money used to put up new businesses or expand
existing ones in the country, dipped at end-May, according to the
Bangko Sentral ng Pilipinas (BSP).
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Sales, rentals
boost ALI net income in first half
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STRONG demand for both
residential lots and office space lifted the profits of the
Philippines’ largest property developer.
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Car sales hit
double-digit growth in first 7 months
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The auto industry posted a
double-digit growth in the first seven months, the Chamber of
Automotive Manufacturers of the Philippines Inc. (Campi) reported
Friday.
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Budget sets LGU
shares from VAT
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Local governments will receive
nearly P4 billion next year as their share from value-added tax
(VAT) collections, the Department of Budget and Management said.
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SMIC earnings
surge on healthy economy
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SM Investments Corp. (SMIC) the
holding firm of the Sy family said profits rose by double-digit in
the first half of the year owing to higher revenues from all
subsidiaries...
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LandBank to start
selling assets in Luzon in Sept
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The Land Bank of the Philippines
will dispose of some of its real and other property acquired (ROPA)
in Luzon in September.
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Telco to pay dividends
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Election
spending, promos boosted Globe profit in H1
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GLOBE Telecom Inc. said it
enjoyed higher profits in the first half of the year, powered by
strong revenue of its wireless and wire line businesses.
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Alliance Tuna to
raise additional capital
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ALLIANCE Tuna International Inc.
is set to increase its authorized capital stock to raise additional
working capital for the company.
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Philex doubles
profit in first half
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PHILEX MINING CORP. more than
doubled its profit in the first half of the year on the back of
strong sales and higher prices of metals.
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APC cuts stake in
Philcom
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THE APC Group Inc. told the
Philippine Stock Exchange that its shareholdings in Philippine
Global Communications was diluted with the conversion of a debt owed
to PremierGlobal Resources Corp. into equity.
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Yuan back in
focus as China trade surplus mounts
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BEIJING: China had its
second-largest trade surplus on record in July, official data showed
Friday, likely adding to international pressure for the yuan to be
allowed to rise faster so as to trim the balance.
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TA Oil set to
explore Bicol mining town
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TRANS-ASIA Oil and Energy
Development Corp. has the go signal from the Department of
Environment and Natural Resources to start mining activities in
Camarines Norte.
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LEARNING & INNOVATION
By Moje Ramos-Aquino, FPM
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Important HR
events in September
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September will be an exciting
time for human resource professionals and other organizational
leaders.
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Full
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