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Tuesday, July 08, 2008 |
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On heels of record inflation
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Benchmark T-bill rate climbs
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BENCHMARK interest rates climbed on the heels of
the government’s announcement of the acceleration of inflation to
a 14-year high.
On Monday’s auction for short-term government
securities or IOUs, the yield for the 91-day Treasury bill (T-bill),
which banks use in pricing their loans, jumped to 5.699 percent from
the 3.673 percent the paper fetched during its last auction in
January 21.
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Dollar reserves in first half
near to high-end target
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THE country’s foreign exchange reserves in the
first half of the year rose near the high-end of the Bangko Sentral
ng Pilipinas’ (BSP) target, driven by the proceeds from the sale
of government’s power plants and the central bank’s investment
income abroad.
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Psalm to sell Iligan plant
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STATE-RUN Power Sector Assets and Liabilities
Management Corp. (Psalm) has put up for sale a plant in Mindanao
after encountering delays in the bidding of several facilities in
the Luzon and the Visayas.
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Robinsons Land ups prices of condo units
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ROBINSONS Land Corp. (RLC) said on Monday that
prices of its condominium units and office spaces have increased by
double-digits amid the surging price of construction materials.
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NEDA approves multibillion-peso
ODA projects
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THE National Economic and Development Authority
Investment Coordination Committee-Cabinet Committee (NEDA-Cabcom)
has approved multibillion-peso loans from Japan Bank for
International Cooperation (JBIC) and the Korean government to fund
social, power and environmental projects.
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GMA five-month profit slows on inflation
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GMA Network Inc. on Monday said its profits in
the first five months of the year grew at a slower pace amid rising
inflation.
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Smart launches first mobile
‘all-in-one’ messaging service
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SMART Communications Inc. on Monday announced its offer of a
flat-rate unlimited messaging service and electronic mail to its
subscribers nationwide.
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Fitch affirms ratings of 5 lenders,
cites weaknesses
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FITCH Ratings Inc. has affirmed the credit ratings of five
Philippine commercial banks, but cited weaknesses in their balance
sheets and profitability.
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Euro-Med bags tax perks
for fuel cell power plant
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EURO-MED Laboratories Philippines Inc. has bagged tax incentives and
other perks from the Board of Investments (BOI) for the company’s
plan to install and operate a stationary fuel cell power plant that
would cut the pharmaceutical maker’s energy costs.
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Napocor wants ERC
rate adjustments clarified
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State-owned National Power Corp. (Napocor) seeks clarification from
the Energy Regulatory Commission of its order to adjust rates in
Luzon, Visayas and Mindanao.
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Metrobank, Korean bank sign
remittance service partnership
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METROPOLITAN Bank & Trust Co. is expanding its remittance
business in South Korea.
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Share prices close higher
as market hunts bargains
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LOCAL share prices closed higher on Monday as investors picked up
bargains, dealers said.
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BIZZ
FIZZ
By Rene Martel
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ICT gets due legislative recognition
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IN this day and age when everyone in whizzing along the Information
Highway at breakneck speed it is one of the great ironies that in
the Philippines this vitally important industry...
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MANAGING
FOR SOCIETY
By Benito L. Teehankee
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Sex and billboards
Part II
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As I argued in last week’s column, the first
problem with sexual images in billboards is that they are
essentially not informative and, worse, psychologically
manipulative. Thus, they fail to meet the requirements of legitimate
advertising and mass media.
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