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Saturday, February 16, 2008 |
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Q1 growth seen at high-end of target
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Govt to front-load infra spending
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THE Philippines plans to front-load its
infrastructure and social spending in the first quarter to
counteract the likely impact of a possible US recession and sustain
domestic economic growth at the high end of the Arroyo
government’s target.
Speaking at her administration’s year-end
economic briefing, President Arroyo on Friday said the government
would release P200 billion to fund infrastructure projects.
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Money sent home by overseas Filipino workers
hits new record
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MONEY sent home by overseas Filipino workers (OFWs) hit a fresh
record last year, the Bangko Sentral ng Pilipinas (BSP) said Friday.
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Stocks lower on political
noise, Bernanke’s gloom
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LOCAL share prices closed lower Friday amid political tension at
home and following US Federal Reserve Chairman Ben Bernanke’s
gloomy assessment of the US economy, dealers said.
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Bank lending growth at single-digits
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BANK lending grew at a faster pace but remain in
the single digit territory in December, the Bangko Sentral ng
Pilipinas (BSP) said Friday.
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‘Moderately high’ credit
risk for lenders–Moody’s
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MOODY’S Investor Service said on Friday that
downward pressure on Philippine banks’ financial positions have
eased due to better economic conditions but credit risks remain
“moderately high” as their nonperforming assets are still a
burden.
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January investment pledges up
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INVESTMENT pledges registered with the Board of
Investments (BOI) and the Philippine Economic Zone Authority (PEZA)
last month surged by more than a half, the Department of Trade and
Industry (DTI) said.
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US Federal Reserve open to more
rate cuts, sees second-half rebound
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WASHINGTON: US Federal Reserve chairman Ben Bernanke on Thursday
predicted “a period of sluggish growth” followed by improvement
on interest rate cuts and a stimulus plan, while keeping the door
open to further cuts.
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URC reports earnings drop despite sales hike
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Earnings of Universal Robina Corp. (URC) fell
from October to December despite double-digit sales growth, the
company announced Friday, citing as reasons the absence of
nonrecurring gains, foreign exchange translation losses, higher
taxes and mark-to-market losses due to dropping bond prices.
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Shippine firms secure tax perks
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Two shipping companies have secured tax
incentives and other perks from the Board of Investments Friday, the
Sun Marine Corp. and Transoil Corp.
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Lending, fee-based income
boost Metrobank profit
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THE country’s biggest bank disclosed to the
Philippine Stock Exchange on Friday that its profit last year rose
on improvements in income earned from its lending and nonlending
businesses.
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First Gen upgrades Pantabangan
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FIRST Gen Hydro Power Corp. has commenced with the upgrade of the
Pantabangan hydroelectric power plant as part of the expansion
program lined up for the facility.
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Roxas Holdings, units borrow
from banks anew
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ROXAS Holdings Inc. (RHI) disclosed to the Philippine Stock Exchange
on Friday that it took out more loans from local lenders to allow
the group to expand and diversify into biofuels.
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LandBank lending to priority
sectors hits record high in 2007
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THE Land Bank of the Philippines said lending to its priority
clients hit a record last year, as their share exceeded the target
set for the period.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Inspirations for
budding entrepreneurs
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I found two very engaging book that tells stories of entrepreneurial
greatness. One is ENTREPRENEURSHIP: creating, building and growing
your business published by Center for Small, Entrepreneurs, Inc.
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