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Friday, February 08, 2008 |
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Decline blamed on US economic woes
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’07 foreign buying
in stock market falls
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By Likha C. Cuevas-Miel, Reporter
FOREIGN interest in the local
stock market fell last year, as net foreign buying declined amid a
slowing US economy and a global credit crunch.
In a statement, the Philippine
Stock Exchange (PSE) said net foreign buying or the difference
between total foreign buying and selling declined by almost 19
percent to P55.55-billion year-on-year due to massive foreign
selling in the final two months of 2007.
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Dollar reserves at
record high on foreign exchange inflow
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THE country’s dollar reserves hit an all-time high
at end-January, according to the Bangko Sentral ng Pilipinas (BSP),
citing the unabated inflows of foreign exchange.
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Viva puts off
maiden share sale on volatility
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VIVA Communications Inc. on Thursday told the
Philippine Stock Exchange that it will postpone its planned maiden
share sale to the public, citing “unfavorable market
sentiments.”
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BIR expects
collection shortfall this year
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THE Bureau of Internal Revenue (BIR) expects to
suffer from a collection shortfall this year even though the
government plans to balance its budget.
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Flour millers seek
halt to undervalued China imports
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LOCAL flour miller groups on Thursday appealed before
the government for a halt to under-valued Chinese imports.
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Story>>
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Manila Water
profit up on billed volume
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MANILA Water Company Inc. said its profit inched up
last year on higher billed volumes as the company reaped the
benefits of its capital investments in recent years.
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Story>>
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Trans-Asia eyes
tie up with Indian firm
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TRANS-ASIA Oil and Energy Development Corp., a unit
of the PHINMA Group, has inked a deal for a possible partnership
with an Indian firm.
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Story>>
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IPVG withdraws
offer to buy People Support
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IPVG Corp. disclosed to the Philippine Stock Exchange
that it is no longer pursuing its plan to acquire People Support Inc
after the Nasdaq-listed business process outsourcing (BPO) company
rejected...
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Story>>
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Seaoil to expand
in Visayas, Mindanao
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SEAOIL Philippines plans to focus the expansion of
its retail refueling business in the Visayas and Mindanao to take
advantage of potential growth in these markets.
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Story>>
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PAL seeks more
flights to Macau
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THE Civil Aeronautics Board (CAB) will seek bilateral
talks with the government of Macau to allow Philippine Airlines
(PAL) to add more flights to the Asian gambling capital.
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