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Thursday, January 24, 2008 |
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Bunching seen to reduce fund-raising proceeds
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Companies push back
share
sale plans to second half
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By Likha C. Cuevas-Miel Reporter
AMID volatile financial markets,
companies are changing gear, with some firms set to sell their
shares for the first time to the public pushing back plans towards
the end of the year.
Cebu Air Inc., which operates
Cebu Pacific, announced on Wednesday that it cancelled its planned
international road show and is postponing its initial public
offering (IPO) indefinitely due to the “extreme volatility” in
global markets.
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Story>>
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Stock
market, peso rebound after Fed move
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THE peso and the stock market on Wednesday regained
their footing after the US Federal Reserve cut its interest rates in
a surprise move that raised hopes of a similar action by the Bangko
Sentral ng Pilipinas (BSP).
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Airlines seek
increase in jet fuel surcharge
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LOCAL and foreign airlines have sought regulatory
approval for a planned increase in their fuel surcharge to offset
rising jet fuel costs.
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Govt eyes pump
priming to mitigate
impact of US economic slowdown
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THE National Economic and Development Authority (NEDA)
said the government plans to pump prime the economy by speeding up
infrastructure projects to mitigate the impact of a US recession on
the Philippines.
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Oil prices trek
south despite Fed rate cut
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SINGAPORE: Oil prices fell in Asian trade Wednesday
despite a surprise cut in key interest rates by the US Federal
Reserve amid deepening worries of a likely US recession, dealers
said.
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Lopez group ups
Meralco stake with partner’s buyout
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THE Lopez group has raised its stake in Manila
Electric Co. (Meralco) after a partner sold its interest in the
country’s largest electricity distributor.
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Start of energy
spot market trading in Visayas
suffers delay on technical glitch
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COMMERCIAL operations of the Philippines’ energy
spot market in the Visayas area has been pushed back, according to
its operator.
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Customs’
collection target stays, says Finance
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THE Department of Finance said the Bureau of
Customs’ collection target for this year stays.
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RP to ship pork
meat to Singapore by April
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THE Philippines will ship pork meat to Singapore in
three months, according to the Bureau of Animal Industry (BAI).
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Village water
fees probed
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STATE-RUN Metropolitan Waterworks and Sewerage System
(MWSS) has formed a task force to oversee the full takeover of the
water systems of subdivisions and housing projects to restrain
excessive water fees in these areas.
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Taiwanese firm
expands
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TAIWAN-BASED Tong Hsing Elecronics Inc. (THEPI) plans
to expand its exiting plant at the Carmelray Industrial Park in
Laguna Wednesday.
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NTC to force
wireless landline link-up
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THE National Telecommunications Commission (NTC) will
issue a circular mandating wireless landline services to
interconnect with other carriers for free within local calling
areas.
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eTelecare opens
UK unit for Virgin
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ETELECARE Global Solutions Inc. told the Philippine
Stock Exchange on Wednesday that it will form a unit in the United
Kingdom.
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BIZZ FIZ
By Rene Martel
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NTC at snail pace
on information highway
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IN this day and age when we are all netizens living
on the information highway where speed is of the absolute essence
since there is only one lane on it—and that is super fast!
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Full
Story>>
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