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Thursday, July 31, 2008 |
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Aboitizes trump Lopezes for Tiwi-Makban plant
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Govt closer to EPIRA target
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THE Philippines’ stalled power-sector
privatization program received a fresh shot in the arm, after the
Aboitiz group on Wednesday won the bid for the Tiwi-Makban
geothermal facility.
A unit of Aboitiz Power Corp. (AP) posted the
highest bid for the first state-owned plant to be auctioned off by
the Power Sector Assets and Liabilities Management Corp. (Psalm)
this year.
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Stock market rises on Wall Street’s gains, oil’s slide
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LOCAL share prices closed higher to a six-week high Wednesday,
boosted by Wall Street’s strong finish and the latest slide in
crude oil prices, dealers said.
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World Bank backs VAT on oil products
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THE Philippines should resist the temptation to
cut taxes in the short-term amid calls to lower the value added tax
(VAT) on oil, the World Bank said Wednesday.
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Philippines, Thailand agree
to raise flight frequencies
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THE Philippines and Thailand agreed to raise
flight frequencies between the two countries in bid to boost two-way
tourism and trade.
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Trading powers reel from collapse
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GENEVA: World powers reeled with regret and emotion on Wednesday
from the collapse of World Trade Organization negotiations for a
global trade pact, warning that the poorest countries would suffer.
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South Asia side-steps regional trade pact
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COLOMBO: South Asian leaders meeting in Sri Lanka this weekend will
discuss improving commercial ties but political and other tensions
have dampened hopes a regional free trade pact will be implemented
any time soon, economists say.
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High inflation drags down BPI profit
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BANK of the Philippine Islands (BPI) on
Wednesday said its first-half profit fell as high inflation trimmed
the lender’s margins.
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Semirara to ramp up
coal production on demand
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SEMIRARA Mining Corp. plans to ramp up coal production and exports
this year, after securing tax perks from the Board of Investments (BOI).
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ICTSI profit growth slows
to single digit in Q2
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INTERNATIONAL Container Terminal Services Inc. (ICTSI) on Wednesday
said its profit growth slowed in the second quarter to single-digit
levels.
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East West Bank declares
fund-raising a success
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EAST West Banking Corp. said it completed last week a fund-raising
exercise aimed at expanding the lender’s offerings.
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LandBank offers loans
to ‘malunggay’ growers
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LAND Bank of the Philippines said it has opened its doors to
malunggay growers through the Cooperative Livelihood Assistance
Program (CLAP) in Magdalena, Laguna.
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Maynilad to boost water supply by year-end
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MAYNILAD Water Services Inc. is eyeing to improve service by
year-end on the back of billions of pesos worth of capital
expenditures this year.
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Recession fears in Japan
as industrial output slides
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TOKYO: Japan said Wednesday that industrial output slid a
worse-than-expected 2.0 percent in June from the previous month,
fanning fears that Asia’s largest economy could be slipping into a
recession.
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European economic confidence
slumps
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BRUSSELS: European economic confidence slumped in July at the
fastest pace since just after the September 11, 2001 attacks in the
United States, according to a European Union survey released on
Wednesday.
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