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Thursday, January 03, 2008 |
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BSP urges govt to borrow abroad on economic goodwill
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Peso resumes climb
on first trading day
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By Maricel E. Burgonio and Likha
C. Cuevas-Miel Reporters
THE peso rose to a fresh
seven-and-a-half-year high against the dollar, but local share
prices hardly moved on the first trading day of 2008.
At the Philippine Dealing System,
the local currency closed at 41.230 against the greenback, as the
resumption of overseas Filipino worker (OFW) remittances and lack of
corporate demand for the US unit pushed the peso higher.
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First Gen buys out
partner
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FIRST Gen Corp. has become the sole owner of Red
Vulcan Holdings Corp., which earlier won the bidding for the
government’s controlling stake in the country’s largest
geothermal energy producer.
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Huge excess
liquidity siphoned off
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SPECIAL deposit account (SDA) placements with the
Bangko Sentral ng Pilipinas (BSP) surged last October, cutting down
excess money that would have driven up consumer prices.
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Strong currency to
trim collections, says Customs
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THE Bureau of Customs said it is likely to miss again
its collection target this year due to expectations that the peso
would continue to appreciate against the dollar.
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Finance pushes
bill on pre-need code
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THE Department of Finance is seeking this year the
passage of a bill establishing a pre-need industry code.
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Oil above $96 in
New Year trade
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SINGAPORE: Oil began 2008 trading higher at above $96
a barrel Wednesday as geopolitical tension spurred prices ahead of a
key US inventory report, dealers said.
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Smart, Sun
subscribers grow in 2007
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TWO leading mobile phone service providers on
Wednesday reported net additions to their respective subscriber
bases last year, boosted by cheaper call and short messaging system
(SMS) rates.
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Chinese developer
to build new Fontana hotel
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THE developer of the Fontana Leisure Parks in Clark
Field, Pampanga, said it would be injecting additional investments
to build a world-class hotel and complete its existing projects.
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ICTSI converts
advances to subsidiaries into equity
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THE board of International Container Terminal
Services Inc. (ICTSI) has approved the conversion of its advances to
units International Container Terminal Holdings Inc....
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Vista Land almost
doubles capex,
eyes higher real-estate sales this year
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THE holding company of the Villar group said it has
jacked up its spending tack for this year as it accelerates its
expansion outside Metro Manila and expects real-estate sales to
climb by year-end.
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San Miguel
completes Aussie brewery sale
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SOUTHEAST Asia’s largest food and beverage
conglomerate told the Philippine Stock Exchange on Wednesday that it
has completed the sale of J. Boag & Son, maker of Australia’s
second best selling premium beer,...
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Story>>
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Canned tuna
shipments to US on downtrend
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CITING lack of raw tuna, Atuna.com reported that the
Philippines’ exports to the US have gone down fast.
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Housing crisis
stirs markets
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WASHINGTON: Few people knew at the start of 2007 the
meaning of “subprime” real-estate loans or how they might affect
the US and global economies.
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BIZZFIZZ
By Rene Martel
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Downside of the
rising peso
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THE soaring peso maybe setting the champagne corks
popping in some quarters of the country, but it’s a tale of woe
for the families of overseas Filipino workers who find they are
getting less...
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Story>>
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