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Wednesday, August 22, 2007 |
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DBM blames bottlenecks
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Govt infra spending
below target Jan-July |
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By Maricel E. Burgonio Reporter
THE Arroyo administration’s
infrastructure program failed to meet targeted spending in the
first seven months of the year, according to the Department of
Budget and Management (DBM).
In a statement, Budget Secretary
Rolando Andaya Jr. said the government disbursed P109.4 billion for
capital outlays in the January to July period. This was higher than
the P70.2-billion spent for the same period last year.
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RP seeks new ADB
policy loan
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THE Philippines is seeking a
second development policy loan from the Asian Development Bank (ADB)
as well as a new program loan that will support the country’s
local government units (LGUs).
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Buying at WESM
hikes power rates
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ELECTRICITY distribution
utilities should refrain from buying more than what the law mandates
from the Wholesale Electricity Spot Market (WESM) to curb the rising
cost of power,...
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Govt to sell stake
in Meralco by third quarter
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THE government expects to sell
its shares in the Manila Electric Co. (Meralco) by the third quarter
of the year at the earliest, the Department of Finance said Tuesday.
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Moody’s
downgrades San Miguel citing new biz tack
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MOODY’S Investor Service cut
San Miguel Corp.’s credit rating due to uncertainties surrounding
its new strategic direction anchored on a planned foray into
nontraditional businesses and the sale of profitable segments.
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Govt releases funds to help drought-affected
areas recover
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THE Department of Agriculture
said Tuesday that it has released funds to aid farmers in Northern
and Central Luzon who were hit hard by the prolonged dry spell.
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ATI earnings up on
int’l operations
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ASIAN Terminal Inc. (ATI)
reported a higher net income in the first half of the year due to
strong revenues from its international container operations.
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Full
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Basic Energy taps
BDO Capital as financial adviser for share sale
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BASIC Energy Corp., formerly
Basic Petroleum Corp., announced on Tuesday that it has engaged the
services of BDO Capital and Investment Corp. to act as financial
adviser for its upcoming sale of new shares...
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Digitel moves to
stop PLDT’s expansion plan
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DIGITAL Telecommunications
Philippines Inc. (Digitel) wants the National Telecommunications
Commission to deny the application of the Philippine Long Distance
Telephone Co. for expansion in areas...
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Story>>
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Splash net income
up in 1st half
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Income of local personal care
company Splash Corp. surged by more than 15 times in the first six
months on the back of improved sales and new products launched early
this year, the company announced Thursday.
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Korean firm to
invest in jathropa plant in RP
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Korean company is set to ijels
Corp. (PNOC-AFC), has agreed to invest $150 million initially
for 75,000 hectares of jatropha plantation over the said period.
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Asian stock
markets perk up as global gloom eases
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TOKYO: Asian stock markets
extended a recovery in early trade on Tuesday as confidence
gradually returns after the recent slump, despite lingering fears of
fresh trouble in credit markets.
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Oil prices lower
as Hurricane Dean avoids US energy facilities
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SINGAPORE: Oil prices were lower
in Asian trade Tuesday as United States energy facilities looked set
to escape the fury of Hurricane Dean, dealers said.
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VIEWS FROM
A BRIT
By Mike
Wootton
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Loads of money
but no opportunity
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Share “buy backs” are a fashionable thing these
days—how worrying !
A company buys back its own shares basically if it has lots of cash
and doesn’t know what to do with it—it is a short term measure
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Full
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