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Thursday, July 17, 2008 |
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After six months of surpluses
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RP incurs dollar deficit in June
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THE Philippines incurred its first dollar
deficit in June, after six months of enjoying surpluses, according
to the Bangko Sentral ng Pilipinas (BSP).
BSP Governor Amando Tetangco Jr. said the
country’s balance of payments (BOP) registered a deficit of $248
million last month, cutting the first-half surplus to $1.934 billion
from $2.182 billion at end-May.
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Local stock market falls
despite drop in oil prices
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LOCAL share prices closed lower Wednesday as worries over the US
financial sector trumped a sharp fall in oil prices, dealers said.
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CAB orders airlines to offer
discounts on domestic fares
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THE Civil Aeronautics Board (CAB) has ordered
airlines to grant a 20-percent discount on domestic fares for
persons with disabilities (PWDs).
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Lack of infrastructure hinders shift to
alternative fuel–Pilipinas Shell
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PILIPINAS Shell Petroleum Corp. said the lack of infrastructure is
hindering the transport sector’s shift to alternative fuels like
compressed natural gas (CNG) and liquefied petroleum gas (LPG).
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Lower rates seen to disparage
power sector investors
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MOVES to lower electricity rates in the country
may scare off potential investors in the government’s power sector
privatization program, a consultancy firm said.
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New drafts in WTO talks feared
to benefit only the rich
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The Fair Trade Alliance (FTA) fears the new
drafts to be presented at the upcoming World Trade Organization (WTO)
mini-ministerial meeting would further increase the trade imbalances
between developed and developing nations.
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Budget gap below cap on reduced spending
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THE government kept its first-half budget gap
below the ceiling as it cut spending during the period, the
Department of Finance said Wednesday.
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Security Bank expands network in
provinces, corporate lending portfolio
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SECURITY Bank Corp. (SBC) has widened its branch network in key
provincial areas to expand its deposit base and corporate lending
business.
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Ayala Land allots portion
of earnings for CSR funding
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AYALA Land Inc. (ALI) is setting aside 1 percent
of its net income for corporate social responsibility top (CSR)
activities, the company’s executive said Wednesday.
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SMBI reports disbursements
of public offer proceeds
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San Miguel Brewery Inc. (SMBI) disclosed it has spent more than a
third of its proceeds from the primary offer of its shares to the
public mainly on systems maintenance and operations improvement.
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