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Tuesday, July 29, 2008 |
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Finance insists VAT
superior
to excise tax on petroleum
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By Chino S. Leyco, Reporter
THE Department of Finance has
some reservations over a proposal to suspend the value added tax
(VAT) on oil, and instead raise the excise tax on the commodity.
Teresa Habitan, director for
fiscal planning, said the 12-percent VAT on oil is superior to the
excise tax.
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Stock market rises
amid drop in oil
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LOCAL share prices closed higher Monday with
investors returning to the market amid a sustained drop in crude oil
prices, dealers said.
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World Bank pushes
for pro-poor businesses
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THE World Bank wants the private sector to focus on
the poor in developing countries such as the Philippines to bring
them out of their misery.
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Debt servicing
flat in the first semester
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THE national government’s debt servicing hardly
changed in the first semester of the year, according to the Bureau
of Treasury.
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Local lenders’
profits to stay muted–Deutsche Bank
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DESPITE sustained loan growth, Philippine lenders’
trading income will decline further in the second quarter of the
year, pulling down their profitability, Deutsche Bank said.
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NTC mulls allowing
SMEs to offer telecom service
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THE National Telecommunications Commission (NTC)
plans to allow small and medium enterprises (SMEs) to operate as
telecom providers in unserved and underserved areas.
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Jollibee acquires
interest in US-based resto
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JOLLIBEE Foods Corp. (JFC) said its unit has acquired
an equity stake in Chow Fun Holdings LLC on New Mexico in the United
States
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Philodrill profit
plunges on temporary halt to operations
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THE Philodrill Corp. said its second-quarter profit
plunged because of a steep revenue drop with the temporary halt in
its oil field operations off Palawan.
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Eton to push
through with construction
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ETON Properties Philippines Inc. said it plans to go
full blast with the construction of its first six projects despite
the surging prices of basic construction materials.
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Unioil to expand
retail network
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UNIOIL Petroleum Philippines Inc. plans to put up
additional retail stations in Metro Manila as part of its expansion
this year.
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China Bank, BPI
Savings’ fund-raising gets BSP nod
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THE Monetary Board has allowed
two banks to expand their resources.
In a disclosure to the Philippine Stock Exchange, China Banking
Corp. said the Bangko Sentral ng Pilipinas’ policy-making board
approved
....
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Toyota cuts
growth goal
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TOKYO: Toyota Motor Corp., in a close race with
General Motors for the title of the world’s top automaker, on
Monday lowered its global sales target for this year as US demand
slumps.
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MANAGING FOR SOCIETY
By Dennis L. Berino
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How much is
enough?
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I attended a conference two weeks back of an
organization whose member—companies are among the bigger and more
successful corporations in the country.
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