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Tuesday, December 09, 2008 |
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Conglomerate takes a piece of Petron
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San Miguel ventures into petrol, telecoms
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AFTER purchasing a substantial stake in the Philippines’ largest
power distributor, San Miguel Corp. (SMC) has cast a wider net, as
it is set to buy a majority interest in the country’s largest oil
refiner, and has tied up with a Qatari firm for a telecoms venture.
In a disclosure to the Philippine Stock
Exchange, Southeast Asia’s largest food and beverage concern said
it will buy up to 50.1 percent of Petron Corp. from the Ashmore
Group through an “option agreement.”
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Petron sees first loss in eight years
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PETRON Corp. expects to incur its first loss this year after nearly
eight years of profitability due to a substantial dip in crude
prices.
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Peso strengthens to 48-to-a-dollar level
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THE peso strengthened, closing at the 48-to-a-dollar level, while
share prices closed higher on Monday, lifted by the recovery in the
US market.
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One-year benchmark interest rate declines on benign inflation outlook
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THE three-month benchmark interest rate rose, while the one-year
rate fell amid easing inflation, as the government capped its
domestic borrowing program.
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Consumer price increases to stabilize come 2010, says central bank
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THE Bangko Sentral ng Pilipinas (BSP) said inflation would stabilize
in 2010 during which the economy will rebound.
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Govt defers donor aid on healthy cash position
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THE Philippines is postponing some of the official development
assistance (ODA) programmed for this year due to its healthy cash
position, the Bureau of Treasury said Monday.
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Car sales contract a second month
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CAR sales contracted at a faster rate in November for a second
straight month of decline, according to the Chamber of Automotive
Manufacturers of the Philippines Inc. (Campi) and the Truck
Manufacturers Association.
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Two-year ethanol supply may take a while to feed demand
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LOCAL supply of ethanol to feed demand for the mandated blend of the
alternative fuel at the pump is likely to be available only two
years from now, an official from Chevron (Caltex) Philippines, Inc.
said.
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Gardenia to double production capacity
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GARDENIA Bakeries Philippines Inc. announced Monday that it would
push through with its planned expansion, doubling the company’s
bread production capacity.
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SBMA seeks operator for new container terminal
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THE Subic Bay Metropolitan Authority (SBMA) said it has opened the
bidding for the operation and management of the New Container
Terminal-2 (NCT-2).
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NTC set to bid out last license for 3G service
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THE government is set to bid out the last license for 3G (third
generation) mobile service to generate more revenues amid weak
subscriber take up.
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Pacific Wireless taps loan
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PACIFIC Wireless Inc. will borrow money from a local investor to
finance its nationwide satellite hub expansion.
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MANAGING
FOR SOCIETY
By Regina C. Dy
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Family management
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The basic unit of society is the family. If the family is the
fundamental institution, then any other form of body we create, be
it councils or governments, must be maintained to strengthen and
sustain the family.
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Story>>
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