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Thursday, July 10, 2008 |
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PAL’s budget
airline reduces
flights to and from Mindanao
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By Darwin G. Amojelar Reporter
Bogged down by soaring jet fuel
prices, Air Philippines, the budget airline unit of Philippine
Airlines, yesterday cut some of its flight routes
in Mindanao.
Around the world, carriers have
been shedding routes and reducing frequencies to cope with record
jet fuel costs. In the US, airlines are exploring possible mergers,
while at least one Asian carrier went belly up a few months ago.
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Philippines 4th in
world’s franchising sector
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The Philippine franchising sector accounts for a
significant part of the country’s gross domestic product, and is a
key driver of the country’s economic growth, the Philippine
Franchise Association (PFA) said.
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DOE steps up
development of geothermal energy in RP
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The Department of Energy (DOE) signs today three
contracts for the exploration and development of geothermal energy
resources across the country.
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Stock market gains
on oil price drop
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Philippine shares closed 1.26 percent higher
Wednesday due to a drop in oil prices and a rebound in the US stock
market, dealers said.
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Consumer lending,
fee-based transactions
seen to boost banks’ loan growth
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The Bangko Sentral ng Pilipinas (BSP) said consumer
lending and fee-based income could support banks loan growth this
year.
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BSP may raise
policy rates
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MONETARY policy remains too loose, UBS Investment
Research said at the same time it projected that the Bangko Sentral
ng Pilipinas (BSP) may raise key interest rates over the next 12
months.
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LRT North
Extension starts constructioni
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THE construction of a rail system from Monumento in
Caloocan City to North Avenue in Quezon City has started Tuesday,
the Light Rail Transit Authority (LRTA) said.
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Philippine shrimp
production may
double this year, agri officials predict
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The Philippines may regain its status as one of the
world’s top exporters of shrimps following the large-scale
production of Peneaus vannamei or Pacific white shrimp, Department
of Agriculture (DA) officials said.
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Filipino
scientists eyed to help RP’s renewable energy program
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The Philippines has vast stores of renewable energy
sources, which the government intends to tap in its bid to provide
energy security for the country.
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Rural banks seek
reprieve from raising capital
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The Rural Bankers Association of the Philippines (RBAP)
has asked the Bangko Sentral ng Pilipinas (BSP) for regulatory
relief from raising their capital in compliance with international
accounting standards.
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Port of Limay now
Customs’ collection disctrict
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THE Department of Finance has approved the creation of the Port of
Limay in Bataan as the 16th collection district of the Bureau of
Customs.
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Waterfront bags
Mimosa Leisure Estate
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WATERFRONT Philippines Inc. has secured the rights to
develop, operate and manage the former Mimosa Leisure Estate in
Clark, Pampanga.
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In a disclosure to the Philippine Stock Exchange,
Waterfront said it bested nine other companies vying for the 50-year
lease contract on the Mimosa property.
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Land Bank sees
credit growth on farm loans
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LAND Bank of the Philippines expects the demand for
credit to further rise this year driven by the increase in
agricultural and infrastructure loans.
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BIZZ FIZZ
By Rene Martel
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Health relief for
overseas Filipino workers
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AS the acknowledged drivers of the Philippine
economy, overseas Filipino workers need all the tender loving care
(referred to in some trendy quarters as TLC) they can get.
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