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Monday, June 16, 2008 |
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NEDA sees slower Q2 growth
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THE Philippine economy may have grown at a
moderate pace in the second quarter of the year owing to soaring
inflation, the National Economic and Development Authority (NEDA)
said.
“We expect GDP to grow better than 5.2
percent, but not higher than 6 percent in the second quarter,”
Acting Socioeconomic Planning Secretary Augusto B. Santos told
reporters over the weekend.
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BSP cuts dollar surplus
forecast on global uncertainty
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THE Bangko Sentral ng Pilipinas (BSP) cut its forecast for the
country’s balance of payments (BOP) surplus this year due to
uncertainties in the global market.
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Finance warns of tax-effort decline
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THE Philippines’ tax effort will decline next
year due to the scheduled reduction in the corporate tax rate, the
Department of Finance said.
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BOI decides to continue
tax perks for housing
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IN a bid to address the Philippines’ housing backlog, the Board of
Investments (BOI) has decided to extend the grant of tax incentives
and other perks to mass housing projects.
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Listed firms’ 2007 profits
grow by double-digits
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COMPANIES in five of the six industry groups listed at the
Philippine Stock Exchange’s (PSE) main board enjoyed higher
profits last year, according to the local bourse.
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Smart raises capex for 3G, wireless
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SMART Communications, Inc. has raised capital expenditure this year
to finance its 3G (third generation) and wireless Internet broadband
network capacity expansion, the Philippines’ largest mobile phone
service provider announced.
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Korea ups RP assistance
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THE Korea International Cooperation Agency (Koica) has increased the
level of official development assistance to the Philippines in
response to the Millennium Development Goals, documents from the
National Economic and Development Authority showed.
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Lopezes buy out Lorenzos
in Pilipino Cable Corp.
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SKY Vision Corp. has bought out its joint venture partner in
Pilipino Cable Corp. (PCC) in preparation for its maiden share
offering to the public, an executive said.
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ChemrezTech raises dividend,
eyes 2009 expansion
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Chemrez Technologies Inc. has allocated more than a third of the
company’s earnings to double shareholders cash bonus for the year,
the firm disclosed to the Philippine Stock Exchange.
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BSP expects banks to shed more bad assets
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The Bangko Sentral ng Pilipinas (BSP) said banks will dispose more
than half of their bad assets during the extension of the Special
Purpose Vehicle (SPV) law, which will end on July 14 this year.
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