THE Asian Development Bank said an increase in
the Bangko Sentral ng Pilipinas’ (BSP) interest rates is unlikely
to temper rising inflation given the current trend of higher food
and fuel prices.
The regional lender issued this warning even as
the BSP said it would raise its policy rates if a possible transport
fare hike and the recent wage increase further bid up prices.
THE Philippine Stock Exchange (PSE) will push
for changes to the Securities and Regulation Code (SRC) if they fail
to bring down broker ownership in the local bourse fro 45 percent to
20 percent as prescribed by law.
THE Philippines may end up with a budget deficit
this year if the government decides to remove the value-added tax
(VAT) and royalties imposed on the power sector, Department of
Energy data showed.
THE local unit of Suzuki Motor Co. Ltd. of Japan
has bagged tax incentives and other perks from the Board of
Investments (BOI) for the transfer of its motorcycle manufacturing
plant in Calamba, Laguna.
GLOBE Telecom Inc. wants the National Telecommunications Commission
(NTC) to bar the wireless units of Philippine Long Distance Telphone
Co. from offering text and call promos that the regulator earlier
stopped until the latter settles their penalties for violating rules
on rate discrimination.
TRANS-ASIA Oil and Energy Development Corp. said it net income rose
almost four folds in the first quarter this year on the back of
higher trading revenues.
INVESTMENT pledges registered before the Board of Investments (BOI)
in the first four-and-a-half months of the year jumped by more than
two folds, the agency’s managing head said.
PHILIPPINE National Bank (PNB) has secured
regulatory approval for a planned capital hike, according to the
Bangko Sentral ng Pilipinas (BSP). BSP Deputy Gov. Nestor Espenilla
Jr. said PNB will raise additional funds by issuing lower tier 2
capital to finance maturing obligations and expand its capital base.
A CREDITOR of debt-ridden Liberty Telecoms Holdings Inc. has asked a
Makati Regional Court to terminate the corporate rehabilitation
proceedings of the telecom company due to an unfeasible plan.
IF you’ve been reading the news, you know that there’s a new
breed of local government politicians personifying “good
governance” in this part of the world.
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