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Tuesday, October 09, 2007 |
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BSP seen to cut rates anew |
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Peso hits 7-year high
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THE peso hit a fresh seven-year high against the
dollar on Monday and is seen to rise further after the Bangko
Sentral ng Pilipinas (BSP) cut its overnight rates last week.
At the Philippine Dealing System, the local
currency opened at 44.53 against the greenback, hovered between
44.35 and 44.55 before settling down at the new multiyear record, or
40 centavos stronger than last Friday’s closing quote. Total
volume traded rose to $845 million.
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Stocks sharply higher on economic outlook,
return of foreign investors
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PHILIPPINE share prices closed sharply higher amid an upbeat outlook
for the domestic economy and expectations of strong corporate
earnings for the third quarter, dealers said.
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Supply worries limit fall of oil prices
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SINGAPORE: World oil prices fell in Asian trade on Monday but
worries over tight energy supplies limited the drop, dealers said.
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Benchmark interest rates dip on BSP cut
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BENCHMARK interest rates eased slightly after last week’s policy
rate cut by the Bangko Sentral ng Pilipinas (BSP).
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Netopia to pull the plug on Thailand operations
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NETOPIA is pulling the plug on its Thailand
operations, according to the Internet café chain operator, Digital
Paradise Inc. (DPI).
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Biofuel gamble paying off
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ChemrezTech profit surges on strong consumer
spending
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CHEMREZ Technologies, Inc. (ChemrezTech) said it
registered a huge jump in profits for the third quarter of the year,
up by more than ten folds on the back of strong consumer spending.
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RP-China agreements not dead yet—Agri
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The Department of Agriculture said final decision on the mechanics
of the two agreements with China that Philippines had suspended will
come next year after consultations with stakeholders.
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Taiwanese group to build Subic science park
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STATE-RUN Subic Bay Metropolitan Authority (SBMA) said it is
finalizing an agreement involving the establishment of a science
park in the Freeport by the Century Development Corp. of Taiwan.
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SMIC consolidates property firm under Shoemart
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SM Investments Corp. (SMIC) on Monday said its board approved the
consolidation of all its real estate development under Shoemart Inc.
as a corporate vehicle.
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NTC exceeds target revenue collection
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The National Telecommunications Commission has exceeded its revenue
collection target as of end September, the regulator announced
Monday.
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Last-ditch lobbying for JPEPA continues
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WITH stiff opposition to the Japan-Philippines Economic Partnership
Agreement (Jpepa) at the Senate, Japan’s own promotions agency is
making a pitch for the trade accord.
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BIZZFIZZ
By Rene Martel
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Corporate Hardbeats rock for
Oktoberfest
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IF it’s October then it must be the time for corporate types to
swap suits for lederhosen and indulge in the annual ritual of
consuming copious amounts of beer accompanied by the sounds of
raucous German brass bands...
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