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Monday, February 04, 2008 |
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ADB: Tight finances, weak
infra brakes to RP growth
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THE Asian Development Bank said the
Philippines’ tight fiscal situation, weak infrastructure,
investors’ lack of confidence, and the scarcity of productive
employment opportunities are the critical constraints to growth and
poverty reduction in the next five to eight years.
In its report, the Manila-based lender said many
of these critical constraints are interlinked.
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RP needs huge investments
to develop indigenous coal
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The country would require huge investments to
develop its indigenous coal supply amid a projected growth in demand
for the resource in the coming years.
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PEZA investment pledges
up two-fold at end January
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INVESTMENT pledges made at the Philippine
Economic Zone Authority rose by almost two-fold at end-January.
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Profit-taking seen at local stock
market after Wall Street rally
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LOCAL share prices could be pegged back as investors take profits
this week following a strong upturn inspired by positive domestic
economic news, and Wall Street’s rise, dealers said last Friday.
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Govt segregates FTI property for
planned sale in third quarter
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THE Department of Finance plans to initially bid
out more than half of the state-owed Food Terminal Inc. (FTI)
property in Taguig in the third quarter this year.
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Forced interconnection of backhaul operators mulled
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NTC moves to further trim telco rates
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THE National Telecommunications Commission (NTC)
plans a mandatory interconnection of backhaul networks to all cable
landing stations of telecom companies to bring down the service
rates in the country.
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Metrobank group begins
coal-fired power plant
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IN an effort to stave off a looming power crunch in the Visayas, a
consortium of four companies began construction of a coal-fired
power plant in Cebu.
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DFNN to venture into Cambodian gaming biz
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DIVERSIFIED Financial Network Inc. (DFNN) announced recently that
its Singaporean unit signed an agreement with a slot machine arcade
operator to gain a foothold in the Cambodian gaming industry as part
of its expansion throughout the region.
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BDO asset quality, capitalization
remain weak, says Fitch Ratings
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FITCH Ratings said Banco De Oro Universal Bank’s (BDO) asset
quality remains weak, but expects the possible improvement through
rehabilitation and recovery efforts.
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Anchor Land sales more than triple
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ANCHOR Land Holdings Inc. said its sales last year surged due to the
fast take up of its high-rise residential condominium units.
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Lufthansa to stay in RP despite
end to Manila-Frankfurt flights
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LUFTHANSA German Airlines will maintain a Philippine presence
despite a decision to end its Manila-Frankfurt flight.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Opacity index:
Business has its corruption level too
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LET me Tickle your mind again and again with corruption issue. And
you know there are plenty of people who would be reminded,
particularly in this time of the year when we renew business
licenses in some agencies manned by corrupt and inefficient
bureaucrats.
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