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Monday, June 02, 2008 |
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ANALYSIS
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Lenders go back to basics amid
volatile markets, slowdown
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PHILIPPINE banks are struggling to sustain their
profits by boosting their lending activity in the face of weakness
in their treasury business.
In the first quarter this year, big commercial
banks saw their trading business turn south, pulling down
profitability.
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Bank lending breaks into
double-digit territory
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THE Bangko Sentral ng Pilipinas’ (BSP) series
of cuts in its overnight rates have finally made an impact on bank
lending based on latest figures that show borrowings hit the
double-digit territory by the end of the first quarter.
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Subsidy unlikely to fuel inflation–BSP
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HIGHER state spending aimed at cushioning the impact of skyrocketing
commodity prices is unlikely to bid up prices further, the Bangko
Sentral ng Pilipinas (BSP) said.
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Costly fuel clips domestic travelers’ wings
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DOMESTIC air travel in the Philippines expanded
in the first quarter of the year, but at a slow pace given the
rising prices of jet fuel.
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Masinloc owner eyes more customers
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US-based AES Corp. is set to sell the output of its recently
acquired coal-fired facility in the Philippines, the Masinloc power
plant, as repair and maintenance works have significantly jacked up
its capacity.
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Sony sees growth on laptops
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Sony Philippines Inc. expects to double its sales growth in the next
fiscal year amid the growing demand for high-definition laptops and
digital cameras.
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Congress approves retirement savings bill
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The Personal Equity and Retirement Account (PERA) bill has passed
the third reading at the House of Representatives after hurdling the
same at the Senate, the Philippine Stock Exchange (PSE) announced.
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Central bank maintains dollar surplus goal
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DESPITE global credit crunch that tempers foreign exchange inflows,
the Bangko Sentral ng Pilipinas remains confident of attaining a
dollar surplus at the end of the year.
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San Miguel set to close mining deal
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SOUTHEAST Asia’s largest food and beverage
conglomerate said it may start working on the foundations of its
mining venture this year at it already received offers from several
entities.
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IPVG sees second-half growth in revenues
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IPVG Corp. expects to generate higher revenues in the second half on
the back of higher consumer expenditure and contributions from its
business process outsourcing (BPO) ventures.
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iRemit, Landbank tie up for remittances
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I-REMIT Inc. announced that it recently struck a partnership with
state-owned Land Bank of the Philippines for the distribution and
promotion of the lender’s OFW Cash Card to reach more overseas
Filipino workers.
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Phinma to build more economy hotels
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PHILIPPINE Investment-Management Inc. (Phinma) said it will put up
more economy hotels and low-cost houses as it shifted away from
manufacturing.
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First-quarter tax
effort improves
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THE Philippines’ tax effort in the first three months of the year
improved, the Department of Finance said.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Factory physics: Doing more with less, less and less
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BEING lean is still the current craze in management. Walk into a
factory. Go to a bulletin board where managers are showing off their
achievements with quality circles, suggestion schemes and production
records beating last month’s ultimate facts and figures by a mile.
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