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Saturday, July 26, 2008 |
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Import receipts in May rise
on soaring costs of oil, rice
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PHILIPPINE imports in May rose to double-digit
owing to soaring costs of fuel and rice purchases abroad, the
National Statistics Office (NSO) reported Friday.
The NSO said the country’s merchandise imports
grew by 11.3 percent to $4.783 billion “due to the increase in the
inward shipments of rice and the continued surge of oil prices”
from $4.296 billion in May 2007.
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Value of equities in Philippine real estate as
good as in Hong Kong–Merrill Lynch
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Despite the bleak scene in the local markets as
the country reels from rising inflation, one of the world’s
largest investment banks sees good values in Philippine equities,
especially on the real-estate front.
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Customs collection expected to exceed
goal on higher oil prices, import bill
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Higher oil prices and imports boost Finance’s
expectation that the Bureau of Customs (BOC) will exceed its
collection goal this year.
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Production May output continues expansion
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FACTORY output in May continued to expand as manufacturers of
leather, footwear, food and beverages products increased production
capacity by double-digit, the National Statistics Office (NSO) said
Friday.
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Technical correction pulls
down local share prices
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Philippine share prices closed down 0.9 percent Friday in a
technical correction after rising 5 percent in the previous two
sessions, dealers said.
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House proposes specific tax system for fuel
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Lawmakers are proposing a return to specific tax
for oil products in lieu of value-added tax (VAT) to give the public
transport sector reprieve from high fuel prices.
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DBP to raise funds via tier-2 capital issuance
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State-owned Development Bank of the Philippines (DBP) will raise funds from the public by issuing tier-2 capital to
boost its lending business, according to Bangko Sentral ng Pilipinas
(BSP).
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DOF tax credit head quits
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THE head of One Stop Shop inter-agency Tax Credit and Duty Drawback
Center (OSS) resigned Friday, a day after the Bureau of Internal
Revenue (BIR) filed tax evasion cases in connection with the
fraudulent acquisition and sale of fake tax credit certificates.
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Philippine Asset
Management launches new retirement savings instrument
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Philam Asset Management Inc. (PAMI), a fund management company, has
introduced a new retirement savings product to expand its reach to
the mass market.
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Japan’s inflation hits new
decade high, worries mount
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TOKYO: Worries about the health of Japan’s economy mounted Friday
as inflation hit a new decade high on soaring commodity costs,
casting a pall over the outlook for consumer spending and company
profits.
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Honda posts record-high
net profit of 8.1 percent
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TOKYO: Honda Motor Co. said Friday its net profit rose 8.1 percent
to hit a record high for the fiscal first quarter on brisk demand in
emerging markets such as China and Brazil.
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Samsung Q2 profit up
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SEOUL: South Korea’s Samsung Electronics Co. said Friday that
second-quarter profit jumped 108 percent year-on-year, and called it
a “relatively solid” performance despite missing market
forecasts.
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S. Korea to review KEB sale
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SEOUL: South Korea’s financial watchdog said Friday it will resume
a regulatory review of the proposed six billion-dollar sale of Korea
Exchange Bank to global giant HSBC Holdings in the coming week.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Everybody is a
suspect at Fairmart?
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Some things need to change. I got off the MRT in Cubao and walked
towards LRT2 to get to Sta. Mesa. I had to traverse Farmers Market,
the side of Araneta Coliseum and Gateway Mall.
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