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Saturday, April 26, 2008 |
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Rice, oil imports shoot up
amid record world prices
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AMID record prices in the world market,
Philippine purchases of oil as well as rice and other cereals caused
the country’s import bill to jump by double-digits for a fourth
straight month in February.
The National Statistics Office on Friday
reported that imports rose by 21.7 percent to $4.49 billion in
February this year from $3.69 billion the same month last year. In
January, imports were up by 27.9 percent.
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Factory output rises to 3-year record
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FACTORY output in February expanded at its fastest pace in more than
three years as manufacturers of petroleum, leather and beverages
reported increases in production, the National Statistics Office (NSO)
said Friday.
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SMIC keeps net income, sales targets
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SM Investments Corp. (SMIC) announced on Friday
that it is maintaining its income growth forecast despite rising
inflation, adding the retail business would be the last to take a
hit from costlier basic commodities.
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BIR set to audit big property companies
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THE Bureau of Internal Revenue (BIR) said Friday
that it will start auditing big real-estate developers in the
country to get income figures for tax purposes.
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San Miguel Beer cuts stock price
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THE domestic beer unit of San Miguel Corp. is
unlikely to get the maximum amount it had hoped to raise from its
planned maiden sale of shares to the public, after the company set
the price of the shares at the low end of the range it disclosed
earlier.
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Psalm sells Manila Thermal facility
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STATE-RUN Power Sector Assets and Liabilities Management Corp.
(PSALM) sold the decommissioned Manila Thermal Power Plant to
Malaysia-based Gagasan Steel, Inc. through a negotiated sale.
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RP retained in US piracy watchlist
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THE Philippines remains on the ordinary watch list under the Special
301 annual report conducted by the Office of the United States Trade
Representative (USTR), according to the Intellectual Property Office
of the Philippines.
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LandBank issues loans for Negros LGUs
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THE Land Bank of the Philippines has approved a P320-million loan to
finance various development projects of local governments in Negros
Occidental.
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Money-transfer firm,
GSIS unit set partnership
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MONEY transfer agent PetNet Inc. and thrift bank GSIS Family Bank
are reviving their partnership to boost remittance market.
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GMA Network to build new studios
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GMA Network Inc. will allot almost a billion pesos for its capital
expenditure this year, the company’s top executives said Friday.
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Napocor repays PNOC-EDC
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THE National Power Corp. disclosed it has agreed to settle its
long-standing obligations worth over two billion pesos to the
Philippine National Oil Company-Energy Development Corp. (PNOC-EDC).
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Africans are free,
but not mobile
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It’s early morning here in Pretoria, South Africa, and I am
freezing to death despite the heater and heated blanket.
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Story>>
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