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Friday, May 23, 2008 |
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Businessmen turn cautious in 2nd quarter
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BUSINESSMEN turned more cautious in the second
quarter due to concerns over a possible recession in the US, and
higher prices of oil, food and other services, the Bangko Sentral ng
Pilipinas (BSP) said.
In its latest round of the Business Expectation
Survey, the BSP said business sentiment remained positive, but
dipped to a two-and-a-half-year low of 12.6 percent.
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BSP sees economy sustaining
growth amid costlier oil
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THE country can sustain its economic growth this year despite high
oil prices, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
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Govt debt payments decline in April
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DEBT payments made by the government declined
last month, Bureau of Treasury data showed.
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Goverment to ask UPS to stay on
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THE Philippine government will ask United Parcel Service (UPS) to
retain some operations in the country after the US logistics giant
announced it was relocating to southern China, President Arroyo’s
spokeswoman said Thursday.
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Department of Finance backs
Senate tax exemption bill
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THE Department of Finance is endorsing the Senate version of the
income tax exemption bill for wage earners in government and private
companies.
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SuperFerry to raise passenger,
cargo rates vis-a-vis high fuel costs
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THE operator of SuperFerry announced Thursday
that it plans to raise passenger and cargo rates due to costlier
food and fuel. The increase comes in the wake of similar price
adjustments airlines implemented to recover from higher jet fuel
prices.
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Semirara Mining bags
extension of coal contract
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ARA Mining Corp. secured the Department of Energy nod for the
extension of the company’s operations in Antique.
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RLC profit rises by double-digits
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THE real estate unit of the Gokongwei group told
the Philippine Stock Exchange that its profit for the first six
months ending in March grew by double digits on the back of higher
revenues generated by its high-rise developments.
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Aboitiz group sets sights on more
government-owned power plants
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THE Aboitiz group plans to use its power unit’s war chest for the
purchase of a number of government-owned power plants that are up
for privatization.
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Bacnotan to expand BPO business,
may venture into animation field
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BACNOTAN Consolidated Industries Inc. (BCI) said it may expand its
business process outsourcing (BPO) venture by entering the animation
field.
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Chinabank to raise additional capital
via long-term certificates of deposits
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CHINA Banking Corp. will raise additional capital through the
issuance of long term negotiable certificates of deposit (LTNCDs).
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China’s
commercial enterprises lose more than 3 billion dollars in quake
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BEIJING: Commercial enterprises in China’s southwest have suffered
over $3.59 billion in economic losses due to the massive May 12
earthquake, a minister said Thursday.
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Dollar finds firmer footing in Asia trade
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TOKYO: The dollar steadied against the yen in late Asian trade on
Thursday, clawing back early losses as traders found little
incentive to keep buying the Japanese currency, dealers said.
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Asia’s largest economy
showing resilience, IMF says
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TOKYO: The Japanese economy is holding up well in the face of the US
economic slowdown but interest rates still need to be kept low until
uncertainty over the outlook clears, the International Monetary Fund
(IMF) said Thursday.
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