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Friday, March 14, 2008 |
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But overnight rates stay
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BSP, bowing to pressure, decides
to close short-term SDA windows
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THE Bangko Sentral ng Pilipinas (BSP) on
Thursday gave in to pressure for limits to placements in its special
deposit account, after monetary authorities decided to “refine”
this facility, which has been offering more attractive rates, thus
preventing the Bureau of Treasury from securing short-term
borrowings through regular auctions.
In a statement, the BSP said the Monetary Board
decided to keep its key policy rates at 5 and 7 percent for the
overnight borrowing and lending windows, citing risks to inflation
this year on the back of skyrocketing oil and food prices worldwide.
Price increases accelerated to a 16-month high last February on
record prices of those commodities.
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Story>>
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High-income group most
confident about economy
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CONSUMER confidence nationwide strengthened in the first quarter
after a downturn in the final three months of last year as the
number of respondents looking positively at the economy and their
financial condition increased while those with negative outlook
decreased, the Bangko Sentral ng Pilipinas said.
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Stock market resumes
fall on record oil prices
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LOCAL share prices closed slightly lower on Thursday at the back of
record oil prices and concerns over the US economy, dealers said.
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No extension to tax amnesty
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DESPITE a collection shortfall, the Bureau of Internal Revenue (BIR)
has no plans of extending the expired tax amnesty program.
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Regulator orders distributors
to expand power discounts
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THE Energy Regulatory Commission (ERC) has
directed electricity distributors sourcing their supply from
state-owned National Power Corp. (Napocor) to allow consumers to
avail of a scheme that charges lower rates whenever their use falls
within off-peak periods.
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Six bidders pre-qualify for
Fujimi property auction
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THE Department of Finance (DOF) said it has pre-qualified six out of
22 interested bidders for the right to develop the Philippines’
property in Fujimu Cho, Chiyoda Ku in Tokyo, Japan.
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Appeals court rules to allow Oriental Peninsula
to run Palawan mine site
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ORIENTAL Peninsula Resources Group announced on Thursday that it has
secured a temporary restraining order (TRO) from the Court of
Appeals preventing the implementation of an earlier lower court
ruling that barred the listed mining firm from operating its mining
tenement in Palawan.
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Smart: Mobile TV prospects
hazy without perks
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THE leading mobile phone service unit of Philippine Long Distance
Telephone Co. (PLDT) on Thursday warned that the prospects of its
mobile television service has become uncertain following the
government’s decision to extend no fiscal perks to the new
offering.
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Ring standards eyed to boost jewelry exports
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THE Bureau of Product Standard of the Department of Trade and
Industry (DTI-BPS) is pushing for standardized ring sizes to boost
jewelry exports.
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