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Saturday, January 19, 2008 |
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Bangko Sentral to tighten
rules on investing in UITFs
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THE Bangko Sentral ng Pilipinas (BSP) announced
on Friday that it will amend the rules on unit investment trust
funds (UITFs), imposing more stringent requirements on minimum
disclosures from account opening, maintenance and redemption of
investments.
A UITF is an open-ended investment instrument
wherein investors can put their money under the management of
banks’ trust departments. The funds would be combined into one big
pool, and invested into either shares of stock of listed companies
or debt papers or combinations of both.
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RP, Japan sign loan agreements
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MANILA and Tokyo have signed two loan agreements
for the implementation of disaster mitigation and agricultural
infrastructure projects, the National Economic and Development
Authority (NEDA) said Friday.
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World Bank’s IFC to allot bulk of loan
portfolio for RP on infra projects
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The International Finance Corp. (IFC) said on Friday that it would
increase its exposure in the Philippines with infrastructure
projects making up the bulk of its loan portfolio.
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Government rushes Customs accord
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THE Bureau of Customs said Friday that it is
pushing for the country’s accession to the Revised Kyoto
Convention, an international agreement seeking to speed up the
cross-border flow of trade.
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Stock market ends week
down on regional selloff
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LOCAL share prices plummeted Friday on mounting worries about the
health of the United States economy and after sharp falls on Wall
Street and around the region, dealers said.
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Bush readies stimulus plan
amid grim economic news
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WASHINGTON: The White House prepared to unveil a stimulus plan
Friday amid more grim economic news that has united lawmakers and
the Federal Reserve chief on the need to revive flagging US growth.
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Dealers predict uncertainty to dog
Japanese shares next week
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TOKYO: Japanese shares are bottoming out—at least they should be
soon—but gloom plaguing the global economy makes the future
direction of the Tokyo market uncertain at best, dealers said
Friday.
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Huge demand for biggest
share offer in India–data
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MUMBAI: India’s biggest share offer by Reliance Power was more
than 47 times oversubscribed, data showed Friday, the last day
investors could apply for a slice of the near $3-billion flotation.
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Oil prices below 90 dollars in Asian trade
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SINGAPORE: World oil prices fell below $90 in Asian trading Friday
amid deepening fears that a US economic slowdown could sharply curb
energy demand, analysts said.
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Phoenix Petroleum buys out BIPC
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PHOENIX Petroleum Philippines Corp. bought out
Bacnotan Industrial Park Corp. (BIPC) in line with efforts to enter
the Luzon market.
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Wellex to focus on mining,
oil exploration ventures
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WELLEX Industries Inc. said on Friday it will shift its focus to
mining and oil exploration.
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Subic exports rise in 2007
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EXPORTS registered by locators at the Subic Bay Metropolitan
Authority jumped more than a third, according to the joint report
released by the Bureaus of Customs and of Internal Revenue at the
Freeport.
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Robinsons Land signs up Accenture as tenant
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ROBINSONS Land Corp. said on Friday it had signed an agreement with
a global management consulting and technology service company to
occupy its new Cybergate Tower in Mandaluyong.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Entrepreneurs: Think
big and global or die soon
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I Got two quick reactions from our readers advocating
entrepreneurship. One is from Norman Madrid, an economist in New
York City, and with the Export & Prosper Investment Club. Norman
forwards these interesting ideas...
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