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Saturday, June 07, 2008 |
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Philippine dollar reserves up
by nearly half year on year
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THE country’s dollar reserves last May were up
by nearly half from a year ago, according to the Bangko Sentral ng
Pilipinas (BSP).
In a statement, BSP Governor Amando M. Tetangco
Jr. said the country’s gross international reserves (GIR) reached
$36.6 billion at end-May from $36.4 billion at end-April.
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Foreign banks’ profits suffer fall on year
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FOREIGN banks in the Philippines incurred a single-digit decline in
their combined profits last year, due to the low interest
environment and conservative lending.
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PSE mulls over merger of smaller boards
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THE Philippine Stock Exchange (PSE) said it is
studying the possibility of combining the small and medium
enterprise (SME) and second boards, both of which have lower
capitalization requirements compared with that of the first board.
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Local stock market slightly
higher on Wall Street’s rise
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LOCAL share prices closed slightly higher Friday despite worries
over surging inflation and higher interest rates, but volume was
thin, dealers said.
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Rubber group pushes for state-subsidized processing plants
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THE Philippine Rubber Industries Association
Inc. (PRIA) is asking the government to set up a modern processing
plant to help it compete with foreign rivals.
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Pearl Oil-led group to start
Monte Cristo well-drilling
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The consortium led by Pearl Oil (Ragay) Ltd. has
commenced drilling activities in their petroleum service contract
area in Ragay Gulf in the Southeast Luzon basin.
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PhilNaRe eyes strategic partnership
with Singapore-based firm
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The National Reinsurance Corp. of the Philippines (PhilNaRe) has
tied up with a Singapore-based firm to expand its business in the
region, the company disclosed Friday to the Philippine Stock
Exchange.
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Sony Phils sees inflation
biting into growth this year
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SONY Philippines Inc. said Friday that it sees smaller growth this
year after inflation spiked to a multi-year record.
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Basic Energy scores partner
for defaulting on agreement
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Listed firm Basic Energy Corp. said the UK-based Forum Energy PLC
has defaulted on the sale and purchase agreement it entered into
with Basic Petroleum, the former’s energy exploration unit.
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Aussie consortium to launch
drilling program in Palawan
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The consortium of Australian firms Nido Petroleum Ltd. and Kairiki
Energy Ltd. has secured a drill rig for its exploration activities
in offshore Palawan.
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East West Bank set to issue
bonds to fund expansion
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East West Banking Corp. will borrow money by issuing bonds to
institutional investors in order to support is expansion program
this year, Filinvest Development Corp. said Friday.
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Robinsons Land set to issue
debt notes to fund capex
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The real-estate arm of the Gokongwei group Robinsons Land Corp. (RLC)
disclosed Thursday it will tap the debt market to finance its
capital expenditures.
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Seven bidders pre-qualified
for Limay power plant sale
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Seven investor groups interested in the Limay power plant have
submitted the required pre-bidding documents within deadline, the
Power Sector Assets and Liabilities Management (PSALM) Corp. said in
a statement Thursday.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Day
and age of shifting changes
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USA is asserting itself as a thought leader. There are conferences
and discussions on various subjects going on simultaneously in
different parts of the country simultaneously and one after the
other.
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