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Wednesday, May 21, 2008 |
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SPECIAL REPORT
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Costlier food, fuel squeeze margins,
alter consumer choices
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SOARING food and fuel prices have begun hurting
consumer firms, squeezing their margins, as they compete to keep,
much less grow, their share of the market at a time when basic
commodities are eating up a bigger portion of people’s incomes.
Last month, inflation shot up nearly four-fold
to 8.3 percent—a three-year high—from 2.3 percent last year.
This brought the inflation rate in the first four months to 6.2
percent, breaching both the Bangko Sentral ng Pilipinas’ (BSP)
forecast for the month of between 6.4 percent and 7 percent, and its
full-year target of between 3 percent and 5 percent.
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 Full
Story>>
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Peso slips to 43-a-dollar
on inflation, risk aversion
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THE peso slipped to the 43-to-a-dollar level on Tuesday on concerns
over rising inflation and continued investor risk aversion.
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Story>>
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Seven-year interest rate rises
as investors seek higher returns
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INVESTORS on Tuesday demanded higher rates for
government IOUs maturing in seven years after the Bangko Sentral ng
Pilipinas (BSP) projected higher inflation until the third quarter
this year.
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Story>>
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End-April borrowings dip as govt
enjoys improved fiscal position
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THE government incurred lower borrowings in the first four months
this year due to an improvement in its fiscal position, Department
of Finance data showed.
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Story>>
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WESM operator proposes incentive
scheme for power use
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DISTRIBUTORS sourcing power from the Wholesale
Electricity Spot Market (WESM) should enjoy incentives if their
transactions lead to lower power rates and penalties if otherwise,
according to the Philippine Electricity Market Corp. (PEMC).
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Story>>
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Off-grid power areas short
of funds to meet demand
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Small power utilities group (SPUG), which
provides electricity to off-grid areas in the country, would need a
sizeable capital in the short to medium terms to increase output and
meet rising demand for power from such areas.
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Story>>
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Sultan Mining records increase in coal sales
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Local mining firm Sultan Mining and Energy Development Corp. (SMEDC)
reported its Surigao del Sur coal mine has posted significant
increase in sales volumes coal mine owing to a rising demand for the
commodity, a company official said.
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Story>>
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Convergys to expand RP operations
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CONVERGYS Corp. is to open five new call centers in the Philippines
in a major expansion move which will see it employ up to 20,000
people, the US-based company said Tuesday.
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Story>>
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ERC allows Cabanatuan coop to trade
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The Energy Regulatory Commission (ERC) has allowed Cabanatuan
Electric Corporation (Celcor) to engage in electricity trading upon
implementation of open access and retail competition in the power
sector, it announced in a statement Tuesday.
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Story>>
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Graft case vs. GSIS chief dismissed
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The Office of the Ombudsman has dismissed graft charges against
Winston Garcia, president and general manager of the Government
Service Insurance System (GSIS), for the purchase of masterpieces by
renowned Filipino artists.
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Story>>
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Property props up Alliance Global
net despite weak food business
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ALLIANCE Global Group Inc. (AGI) announced on
Tuesday that its first-quarter profit surged on the back of the
improvement in its real estate despite weakness in its fast-food
business caused by higher input costs.
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Story>>
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CitisecOnline earnings
surge even with volatility
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CITISECONLINE (COL) on Tuesday said its first-quarter net income
grew by double digits despite the volatility in the financial
markets.
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Story>>
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Piltel sets income forecast
amid high inflation
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PILIPINO Telephone Corp. (Piltel) on Tuesday said it remains
cautious over the company’s outlook this year owing to higher
inflation.
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Story>>
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Cebu Pacific
opens local routes
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CEBU Pacific on Tuesday said it will add more domestic flight
destinations to serve the growing local tourism industry.
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Story>>
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