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Friday, February 29, 2008 |
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NEDA stalls RP-China aid
talks
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THE National Economic and Development Authority
(NEDA) has put on hold the negotiations for a five-year bilateral
loan framework owing to allegations of corruption over the botched
National Broadband Network (NBN) project.
Socioeconomic Planning Sec. Augusto B. Santos
told reporters that the five-year Joint Action Plan for Strategic
Cooperation between the Republic of China and the Philippines will
be put on hold until the issues on the $329 million NBN project are
resolved.
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BIR tax amnesty collection falls less than
half of target a week before deadline
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A WEEK before its deadline, revenues raised from
the Bureau of Internal Revenue’s (BIR) tax amnesty program are way
below target, the agency’s head said.
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Electronics industry investments rise in 2007
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THE Semiconductor and Electronics Industries in
the Philippines inc. (Seipi) said the industry’s investments last
year rose by almost two-fold.
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Stock market slightly up despite politics
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LOCAL share prices closed slightly higher in light trade Thursday as
domestic political worries continued to dog the market, dealers
said.
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BSP may trim rates
further
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STANDARD Chartered Bank expects the Bangko Sentral ng Pilipinas (BSP)
to keep its overnight rates steady in the near term, but sees a
percentage point reduction for the rate at which lenders borrow from
each other until the end of the year.
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Fed Reserve’s Bernanke signals fresh
rate cuts, cites weak economic growth
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WASHINGTON: Federal Reserve chairman Ben Bernanke told Congress on
Wednesday that weak US economic growth may prompt the central bank
to cut interest rates further to ward off a severe downturn.
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First Metro income jumps on market revival
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THE investment banking arm of the Metrobank
group announced that its profit last year surged due to the
“strong revival” of the fixed income and equities market,
increasing the underwriting business it cornered.
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PLDT junks PT&T request
for changes in accord
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PHILIPPINE Long Distance Telephone Co. (PLDT) on Thursday junked the
request of Philippine Telephone & Telegraph Corp. (PT&T) to
amend their interconnection agreement.
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First Holdings sets budget for
acquisitions
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FIRST Philippine Holdings Corp. said it is
setting aside a third of the proceeds from a recent share sale to
buy several businesses and the remaining amount to repay debt.
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Mariwasa Siam to boost production
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STO. TOMAS, Batangas: Mariwasa Siam Ceramics Inc. will beef up
production this year to regain its position as the industry’s
market leader.
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7-11 profit up on higher sales, franchises
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THE local operator of the 7-11 convenience store chain said its
profits last year surged on the back of higher sales and increased
number of franchised stores.
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Nido estimates more oil from
Galoc production wells
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NIDO Petroleum Ltd. (Nido) said initial estimates indicate that the
Galoc field’s two recently completd production wells may churn
out more oil than its current flow rates.
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