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Thursday, April 10, 2008 |
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World Bank to
increase lending to RP
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By Darwin G. Amojelar Reporter
The World Bank (WB) on Wednesday
announced it has committed itself to increase annual lending to the
Philippines, citing the country’s improved macroeconomic
situation.
Bert Hofman, WB country director
for the Philippines, said it may lend between $850 million and $900
million a year depending on the government’s funding requirements.
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State support for
GOCCs, GFIs dropped in February
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SUBSIDIES to government-owned and -controlled
corporations and government financial institutions significantly
dropped in February on efforts by the Department of Finance to
minimize state support for these firms.
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Vehicle sales post
double-digit growth in first three months
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Car sales continued to post double-digit growth in
the first three months, the Chamber of Automotive Manufacturers of
the Philippines Inc. announced Wednesday.
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Benguet bucks
allegations of illegal mining
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Benguet Corp. has denied allegations of illegal
mining activities and “causing environmental destruction” within
its 1,400-hectare nickel property in Zambales.
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Petron signs first
offtake deal on propylene
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Limay, Bataan: Oil refiner Petron Corp. signed its
first offtake agreement for the supply of polymer-grade propylene to
Japanese firm Mitsui Co. Ltd.
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PSBank eyes modest
earnings
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The Philippine Savings Bank is likely to post
moderate earnings growth this year owing to declining demand for
housing loans.
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ECCP to help
Philippines tap Europe’s outsourcing firms
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The European Chamber of Commerce of the Philippines
on Wednesday launched “Team Europe” in a bid to attract the bulk
of the European off-shoring and out-sourcing market.
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PNOC’s
alternative fuels unit to step up jathropa development
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Despite government’s promise to increase rise
production amid globally rising prices and tightening supplies of
food, the Philippine National Oil Co.-Alternative Fuels Corp. (PNOC-AFC)
plans to pursue its mandate...
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Pacific Online
profits more than double on increased terminals
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The exclusive online lottery systems provider of the
Philippine Charity Sweepstakes Office in Visayas and Mindanao more
than doubled its profits last year owing to the increase of its
betting terminals.
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BIZZ FIZZ
By Rene Martel
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At last some good
news for ZTE
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WITH ZTE—the Shenzhen, China-based telecom
entity—taking an absolute battering in the Philippines over the
now aborted and highly polemic multimillion- dollar National
Broadband Network (NBN) project,...
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