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Wednesday, July 16, 2008 |
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OFW remittances stay resilient
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MONEY sent home by overseas Filipino workers (OFWs)
rose significantly in the first five months of the year due to
steady growth of deployed workers, the Bangko Sentral ng Pilipinas (BSP)
said Tuesday.
In a statement, BSP Governor Amando Tetangco Jr.
said total remittances grew 14.7 percent year on-year to $6.8
billion in the five-month period. In May alone, remittances rose
15.6 percent year on year to $1.4 billion.
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Local stock market joins Asia-wide rout
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LOCAL share prices fell on Tuesday as other Asian markets slid too
amid concern over the global economy, dealers said.
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Failed state borrowings may dampen collections
in first semester, says BIR
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THE Bureau of Internal Revenue (BIR) warned that
its first-half collections may have slowed due to the government’s
failure to secure short-term borrowings scheduled for the second
quarter this year.
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Construction material prices surge
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PRICES of construction materials in Metro Manila
grew by double digits last month, as oil hit fresh records, the
National Statistics Office (NSO) said Tuesday.
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ERC issues rules on prepaid
retail electricity service
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HOUSEHOLDS may soon avail of “prepaid”
meters to control their electricity consumption after the Energy
Regulatory Commission (ERC) released the draft rules for the said
scheme.
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Two govt power plants up for sale
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The state-run power sector privatization arm has
issued an invitation for the sale of two government-owned diesel
power plants, the 146.5-megawatt Panay and 22-megawatt Bohol diesel
power facilities, Power Sector Assets and Liabilities Corp. PSALM
announced in a statement.
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Biofuels use not a threat
to food production–Report
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Despite the “raging” debate on food versus fuel, the benefits
biofuels can bring far outweigh such issues that have yet to affect
the Philippines, according to an energy consultancy firm.
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Fishery sector wary of WTO
talks on non-agri markets
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The Tambuyog Development Center on Tuesday warned that the latest
trade proposals in the Non-Agriculture Market Access (NAMA)
negotiations in the World Trade Organization may hamper the
safeguards Philippines have put in place to protect the local
fisheries sector.
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RP jumps five notches in world competitiveness
ranking
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The Philippines is on track with its efforts to become more
competitive in global trade, said Cesar Bautista, National
Competitiveness Council (NCC) co-chairman, citing the country’s
improved ranking in an annual global competitiveness survey.
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Globe to offer reduced SMS rate
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GLOBE Telecom Inc. is opposing a government plan
to cut interconnection charges and instead will offer a promo
package reducing its text messaging or SMS (short messaging service)
rate by half.
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PhilRatings assigns highest rating to ALI
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AYALA Land Inc.’s (ALI) planned borrowing through the sale of
bonds has garnered the highest credit rating from Philippine Rating
Services Corp.
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Maynilad upgrades Malabon waterwork
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MAYNILAD Water Services Inc. said it completed rehabilitation works
in the central part of Malabon City.
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VIEWS
FROM
A BRIT
By Mike Wootton
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John Frum
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I wonder how many people reading this column have ever heard of John
Frum? For those of you who may not be familiar with Mr. Frum, he is
said to live inside a volcano in Vanuatu (about 2,000 miles south
east from here).
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