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Saturday, June 28, 2008 |
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Emerging markets like RP vulnerable, Fitch warns
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Inflation may blot credit ratings
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RAPIDLY rising consumer prices may be harmful to
the credit worthiness of emerging markets like the Philippines,
according to Fitch Rating Inc.
In a statement, Fitch said inflation can have an
insidious impact by lowering countries’ credit ratings due to
heightened incidence of macroeconomic volatility. A lower rating
will in turn affect government’s borrowing costs when tapping
offshore lenders.
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Domestic share prices sharply
tumble on Wall Street losses
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LOCAL share prices closed sharply lower on Friday following steep
falls on Wall Street and a spike in the oil price over night,
dealers said.
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Jollibee reconsiders expansion
plan as economy slows
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The country’s biggest fast-food chain
announced on Friday that it is reviewing its expansion plan in the
coming months in light of the economic slowdown.
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Record high oil prices,
risk aversion pull down peso
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THE peso ended the week on a weak note due to
the combined impact of continued risk aversion and higher oil
prices.
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Costlier raw materials lower
Purefoods’ profit forecast
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SAN Miguel Pure Foods Co. on Friday said it
expects lower profits this year owing to the higher cost of raw
materials, which squeezed the company’s margins.
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Banks’ bad loan ratio shows
improvement in March
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BANKS’ bad loan ratio improved last March as their lending
portfolio rose and the level of non-performing loans decreased, the
Bangko Sentral ng Pilipinas (BSP) said Friday.
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Bill Gates to sign off at Microsoft
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SAN FRANCISCO: Macintosh computer fanatics won’t have Bill Gates
to kick around anymore. The Microsoft co-founder whose boyish face
and nerdy manner epitomizes the US software colossus spends his last
day at the office on Friday.
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Proceeds earmarked for BPO, electronics units
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Ayala trims Globe stake,
sells to SingTel to realign capital
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AYALA Corp. on Friday announced that it has sold
shares in Globe Telecom Inc. to partner Singapore Telecom
International Pte. Ltd. (SingTel).
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Allied may get Moody’s rating
upgrade after merger with PNB
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MOODY’S Investors Service said it could upgrade Allied Banking
Corp.’s local currency subordinated debt rating with its merger
with Philippine National Bank (PNB).
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Small telco bucks Smart
expansion of data services
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A SMALL telecom company wants the National Telecommunications
Commission (NTC) to junk the application of Smart Communications
Inc. to offer data communications in unserved and underserved areas
nationwide.
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Tupperware successor forecasts growth
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FULLER Life Direct Selling Philippines said it expects to sustain its
growth this year due to strong demand for consumer products despite
higher inflation.
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Asian stocks hit by oil, financial jitters
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TOKYO: Asian stocks tumbled Friday, with Shanghai plunging more than
five percent and Tokyo striking a two-month low as investors dumped
shares on worries about high oil prices and the weak US economy.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Bold changes require
bold leadership
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The big benefits I get from attending ASTD International Conference
& Exposition are exposure to new ideas, learning from HRD
thought leaders and practitioners from all over the world in formal
sessions and informal chitchats with fellow delegates, access to
service and product providers and freebies like books, magazines and
the all-time favorite ballpens of all sizes and colors.
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