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Saturday, May 31, 2008 |
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Double-digit inflation within
striking distance, says BSP
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CONSUMER price increases this month may have
averaged higher near the double-digit mark, the Bangko Sentral ng
Pilipinas (BSP) warned Friday.
It blamed the likely up tick on higher oil
prices and a transport fare hike.
BSP Governor Amando M. Tetangco Jr. said May
inflation is likely to have fallen within a range of 8.8 percent to
9.6 percent on the back of the surge in international oil prices,
climbing domestic pump prices as well as the provisional increase in
transport fares.
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Money supply accelerates in March
parallel to increase in net foreign assets
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DEMAND for money grew at a faster pace last March due to an increase
in net foreign assets, according to the Bangko Sentral ng Pilipinas
(BSP).
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Tax credit issuance declines–Finance
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THE Department of Finance said Friday that the issuance of tax
credit certificates (TCC) dropped in the last 10 years after a
controversial tax scam.
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Hearings on open-access petition set
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THE Energy Regulatory Commission (ERC) has set a
series of hearings in the next two months on a petition seeking to
put in place a temporary scheme aimed at bringing down electricity
rates.
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Peso, stocks recover as
investors sell their dollars
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AFTER nearly breaching a new level, the peso recovered from an
almost second week-long decline Friday as investors sold the dollar
to profit from its rallies in the past several days, traders said.
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NTC to cut telcos’ interconnection
charges
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THE National Telecommunications Commission will
cut by more than half the interconnection rates that local telecom
companies charge one another for short messaging system or text and
voice call service.
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RCBC secures BSP approval for acquisition
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RIZAL Commercial Banking Corp. (RCBC) told the Philippine Stock
Exchange that it closed the deal on its purchase of Merchants
Savings and Loan Association Inc (MLSA).
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Dream operator complains
of set-top box piracy
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THE operator of Dream Satellite TV is seeking the National
Telecommunications Commission’s (NTC) help in stopping the illegal
manufacture of its set-top boxes.
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Shang Properties buys land in Fort Bonifacio
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THE developer of the Shangri-La Plaza mall told the Philippine Stock
Exchange (PSE) that a subsidiary purchased a lot from the Fort
Bonifacio Development Corp. (FBDC).
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Inflation Asia’s biggest concern
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Think-tank cites slowing US economy for Asia
Pacific’s lower growth outlook
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SINGAPORE: Soaring energy and food prices will help push the Asia
Pacific inflation rate to a forecast 3.6 percent this year from 2.7
percent last year, a regional think-tank said Friday.
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Oil prices ease further in
Asia on falling US demand
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SINGAPORE: World oil prices eased slightly in Asian trade on Friday
after sharp earlier falls triggered by concerns about falling demand
in the United States and other developed countries, analysts said.
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Dollar turns lower, boosted
briefly by revised US growth data
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TOKYO: The dollar eased back against other major currencies in Asian
trade Friday after a rally sparked by an upgrade to US economic
growth fizzled out, traders said.
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High global food prices here
to stay–OECD, FAO study
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PARIS: High global food prices are a new fact of life, a major
report warned on Thursday as 22 countries, mostly in Africa, were
listed as being at severe risk from record food and fuel costs.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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In a world and time
of shifting constants
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It’s been said that there are two inevitable in life—death and
taxes. The rest of what happens to our lives are constants—they
happen steadily, repeatedly, regularly, continually. Nonetheless,
these constants are swinging to the left, to the right, up, down, at
an angle.
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