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Wednesday, June 18, 2008 |
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Government rejects all T-bill bids,
cites good fiscal position
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THE national government can manage not to borrow
money right now, the Bureau of Treasury announced, citing the
Philippines’ strong fiscal position as of May.
At Tuesday’s auction, the bureau intended to
sell P7-billion worth of Treasury bonds, and banks were willing to
buy the full award but at an average rate of 8.508 percent, much
higher than the bureau’s expectation.
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More hot money flows out in first five
months on investors’ negative sentiment
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Net foreign portfolio investments went down in
January to May this year as risk aversion persisted amid the
continuing climb of oil and commodity prices, Bangko Sentral Gov.
Amando Tetangco Jr. said in a statement.
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International passenger inflow slightly up
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HIGHER fuel surcharges notwithstanding,
international passenger traffic flow in the Philippines slightly
went up during the first quarter of the year, the Civil Aeronautics
Board (CAB) said Tuesday.
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Customs realizes additional
revenue
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Amid oil prices soaring to record highs, the Bureau of Customs (BOC)
managed to push the limits of its revenue goal from petroleum
imports in the first three months of the year.
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Bangko Sentral may seek
IMF opinion on monetary policy
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Faced by hard decisions that will affect price stability, the Bangko
Sentral ng Pilipinas (BSP) may seek the opinion and environmental
assessment of multilateral organizations such as the International
Monetary Fund (IMF) on monetary policies aimed at easing
inflationary pressures.
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RP share prices inch up on bargain hunting
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Philippine share prices closed 0.6 percent higher on Tuesday, on
extended bargain hunting, dealers said.
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Prices of steel products to go up end-June
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The Filipino Galvanizers Institute, Inc. on
Tuesday said it is poised to increase the prices of steel products
by a half within this month.
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ODAs worth millions of dollars
left unused in 2007
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Foreign funds worth hundreds of million dollars were canceled last
year by the Philippine government, primarily due to unutilized
balance at the close of the loan and foreign exchange movement, the
National Economic and Development Authority (NEDA) reported.
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Price of traded electricity seen to go down
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Barring any untoward incident that may affect the operations of the
country’s large power plants, the price of electricity at the
Wholesale Electricity Spot Market (WESM)...
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Soaring oil prices hit
travel agencies’ profitability
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Travel agencies are hard pressed to keep their business profitable
amid the soaring oil prices coupled by the “unpredictability” of
the peso.
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Govt to complete electrification
of rural villages in two years
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The government wants to complete its rural electrification program
in the next two years to cover areas in Mindanao that continue to be
without electricity.
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Nihao to raise capital for nickel
mines via stock rights offering
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Nihao Mineral Resources International Inc. will
raise funds through a stock rights offering for its mining
activities in its nickel tenements, the company told the Philippine
Stock Exchange.
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Chemrez targets Middle East’s
troubled spots for export growth
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Chemrez Technologies Inc. said it is targeting areas such as the
troubled areas in the Middle East that are largely neglected by
other suppliers to increase exports, executives said.
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VIEWS
FROM A BRIT
By Mike Wootton
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Anytime is fine
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One thing I find difficult to get used to here in the Philippines is
the “timing thing,” and I don’t mean in this case particularly
not being prompt for appointments, I have actually noticed
significant improvements in that over the last few years...
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