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Tuesday, June 24, 2008

 

BIR recommends officials
for the chopping block

THE Bureau of Internal Revenue (BIR) has submitted a list of collection officers qualified for attrition after they failed to meet promised goals, the Department of Finance said.

In a document, the Finance department said BIR Commissioner Lilian B. Hefti recommended 51 names of revenue district officers qualified for attrition, including their assistants, after they missed by more than 7.5 percent their target for last year.

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O T H E R   R E P O R T S

 

MONTHS after continued rejections banks’ bids, the Bureau of Treasury finally made a full award of this week’s programmed one-year borrowing as lenders sought lower yields.

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THE Bangko Sentral ng Pilipinas (BSP) is likely to further increase its key policy rates in the second half of the year to curb high inflation, ING N.V. said.

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SENTIMENT among businessmen in the world’s second and third largest economies fell to multi-year record lows, according to separate polls in Japan and Germany.

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OIL production in the Galoc field has been moved to next month after Typhoon Frank hit the country over the weekend.

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STATE-RUN Power Sector Assets and Liabilities Management Corp. (Psalm) said it has pushed back anew the privatization of the Tiwi-MakBan geothermal power complex to give the government more time to resolve issues raised by bidders.

Full Story>>

 

PHILIPPINE National Bank (PNB) borrowed more funds through the issuance of lower tier 2 capital, which will be used to refinance its financial obligation and strengthen its capital base.

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ATR KimEng Financial Corp. (ATRK) told the Philippine Stock Exchange on Monday that it shed control over its wholly owned property unit to prevent a breach in foreign ownership limits.

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PAPERCON Philippines Inc. has secured tax incentives and other perks from the Board of Investments (BOI) for its expansion project.

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GOVERNMENT Service Insurance System (GSIS) announced on Monday that it would undertake this year another investment abroad as the local market looks less attractive than its foreign counterparts.

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BIZZ FIZZ
By Rene Martel

WITH Boracay now an around-the-year indulgence for many, the famed white-sanded resort—that epitomizes the paradise nature of the Philippines as a tourist destination—is never off nearly everyone’s minds, including politicians.

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MANAGING FOR SOCIETY
By Dennis L. Berin

In less than two months’ time, one of the most awaited organized and trained for sporting event will regale the world. We are talking about the 2008 Olympics, which Beijing will host.

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