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Friday, June 29, 2007 |
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Foreign debt eases slightly
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World Bank says
fiscal
reform in RP has stalled |
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THE Philippines’ fiscal reform effort has stalled, according to
the World Bank.
“Progress has stalled but has
not been reversed,” Joachim von Amsberg, the multilateral
lender’s outgoing country manager, said, adding the Philippines
has a narrow window to get its fiscal house back in order or risk
putting in jeopardy economic reforms that have taken years to put in
place.
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 Full
Story>>
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Inflation picked
up in June–BSP
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THE Bangko Sentral ng Pilipinas (BSP)
said price increases in June may have accelerated due to higher
tuition and costlier oil and food items.
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Psalm may escape
penalty for price-rigging
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STATE-RUN Power Sector Assets and
Liabilities Management Corp. (Psalm) may be spared from penalties
despite allegations of price rigging at the Philippines’ first
spot market for electricity, the energy sector regulator said.
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Delays plague
transmission asset-sale approvals
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STATE-OWNED National Transmission
Corp. (TransCo) said it has yet to get a centavo out of the
multibillion-pesos worth of subtransmission asset sales made owing
to delays in the approval of these transactions.
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Passenger load highest in 15 years
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PAL profit rises
despite costlier fuel, intense rivalry
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PHILIPPINE Airlines (PAL) said
profits rose more than sixfold for its fiscal year ending March this
year on the back of strong passenger and cargo operations.
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Full
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Hanjin to invest
more in Subic
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Hanjin Heavy Industries and
Construction, the world’s fourth-largest shipping company, will
pour fresh investments into the Subic Bay Freeport, the company’s
executive said Thursday.
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IPVG to acquire IT
business
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IPVG Corp. announced Thursday the
acquisition of an IT business that is within its core competencies
such as Internet protocol (IP) communications and consumer content.
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JG Summit eyes
debt refinancing
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THE holding company of the
Gokongwei family’s business interests said on Thursday it would
refinance debt falling due next year by either selling more shares
or incurring fresh financial obligations.
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San Miguel to
invest in postharvest facilities
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SAN Miguel Corp. (SMC) is keen on
investing billions of pesos in grain facilities in the Philippines,
an agriculture official said Thursday.
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