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Thursday, October 18, 2007 |
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Govt back in the red
in Sept. |
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By Maricel E. Burgonio Reporter
THE Philippines cut its
expenditures to make up for a shortfall in revenues and allow
the government to reduce its budget deficit for the first nine
months of the year.
In a briefing, Finance Secretary
Margarito B. Teves said the government incurred a financing
shortfall of P40 billion at end-September, lower than the P54
billion ceiling expected for the period.
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Skilled workers
becoming more scarce, says survey
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CONCERN over the scarcity of
qualified workers has risen by more than two-fold in the wake of the
continued departure of Filipino professionals for abroad,...
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PAL to raise fares
on costlier fuel
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PHILIPPINE Airlines (PAL) is
seeking another round of increases in its fuel surcharges for
domestic flights on the back of escalating oil prices.
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Expansion of
super-rich class lags behind RP economic growth
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Despite the record growth of the
economy, the number of super-rich Filipinos is not growing as fast,
based on the latest Asia Pacific Wealth report.
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Stock market
extends losses on worries over US, higher oil prices
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THE peso resumed its climb, while
the stock market closed lower on worries over the United States
economy and record high oil prices, dealers said.
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Big firms to bid
for PNOC-EDC stake
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BIG-NAME firms will slug it out
for the government’s strategic stake in the country’s largest
geothermal energy producing company, according to its parent
state-run Philippine National Oil Co. (PNOC).
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Prepayment of
Napocor debts under review
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STATE-RUN Power Sector Assets and
Liabilities Management Corp. (Psalm) is mulling over the prepayment
of about a fifth of state-owned National Power Corp.’s (Napocor)
foreign denominated debts within the next six months.
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Megaworld, Korean
company tie up for joint marketing initiative
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MEGAWORLD Corp. said it has tied
up with a Korean firm to market its projects to Korean communities
in the Philippines and abroad.
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Global Steel still
keen on integrated
production facility, says Trade dept
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GLOBAL Steel Philippines Inc. (GSPI)
will pursue its billion-dollar plan to put up a backward integration
facility in Mindanao, the Department of Trade and Industry (DTI)
said on Wednesday.
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No loan issued
for Indian property developer–LBP
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The Land Bank of the Philippines
(LBP) on Wednesday denied signing a memorandum of understanding with
India-based real-estate firm Zoom Developers for multimillion-dollar
projects in Metro Manila.
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Largest voice-connected online community on earth
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MySpace enhanced
with Skype
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SAN FRANCISCO: MySpace and Skype
announced Tuesday they are meshing social networking with Internet
telephony, creating the largest voice-connected online community on
Earth.
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Construction Bank
chief says US shutting out China banks
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BEIJING: The chairman of one of
China’s top banks criticized US authorities Wednesday for
obstructing Chinese lenders trying to establish a presence in
America and accused them of “unequal treatment.”
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Japanese shares
slide to two-week
low amid renewed global worries
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TOKYO: Japanese share prices fell
sharply for a second straight day Wednesday, hitting a two-week low
below the key 17,000 points level amid renewed nervousness on global
markets, dealers said.
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BIZZ FIZZ
By Rene Martel
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Karl McLean–Mr.
Superbrandin the Philippines
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ONE can hardly miss the distinct
logo considering some of the best known and most respected corporate
brands—The Manila Times included—are accredited to be proclaimed
as such.
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