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Saturday, November 22, 2008 |
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Dollar touches P50
mark
on growing risk aversion
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By Maricel E. Burgonio, Reporter
THE dollar hit the P50 mark while
the stock market fell sharply on Friday as risk aversion grew on
persistent concerns over the health of the
global economy.
At the Philippine Dealing System,
the peso weakened to 50.170-to-a-dollar before recovering a few
centavos and closing at 49.820, better than Thursday’s 49.999
finish. Trading volume jumped by nearly 50 percent to $622 million
from $444.5 million previously.
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Thrift banks’
bad loan ratio improves
on higher loan portfolio, less NPL
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The thrift banking industry improved its bad loan
ratio in July compared with June ratio as it increased its loan
portfolio and reduced its non-performing loan level (NPL) , Bangko
Sentral ng Pilipinas (BSP) said yesterday.
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Life insurance
companies to hike capital
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THE Philippine life insurance industry said it would
adhere to the government directive to strengthen the sector amid the
global financial downturn by increasing their paid-up capital by the
end of the year.
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Napocor seeks
GRAM-related rate increase
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STATE-OWNED National Power Corp. (Napocor) is seeking
an increase in its rates to recover fuel and generation costs of its
independent power producers (IPP) for May to June this year.
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BIR to end year
with ‘expeditious resolution’ of tax evasion cases
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THE Bureau of Internal Revenue (BIR) said it would
prosecute more tax evaders this year, as the country’s main tax
agency strengthens its Run After Tax Evaders (RATE) program.
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Philamlife still
profitable despite difficulties, says CEO
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THE Philippine American Life and General Insurance
Co. (Philamlife) said it remains very profitable and continues to
generate significant new business despite a difficult business
environment.
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Waterfront may
rebid for Mimosa
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Waterfront Philippines Inc. (WPI) may still qualify
to bid for the Mimosa Leisure Estate, despite losing the right to
run it the first time around, if the government decides to sell the
property again.
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Napocor fulfills
mandate to help host communities
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State-owned National Power Corp. (Napocor) said in a
statement it has remitted more than P2 billion from its energy sales
to communities hosting its power generating facilities. Under Energy
Regulation (ER) 1-94,...
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Forum Energy
completes Cebu coal contract sale
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UK-listed Forum Energy Plc has completed its
divestment of one of its coal concessions in Cebu to a local firm.
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StanChart’s
derivatives get BSP’s nod
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The Bangko Sentral ng Pilipinas (BSP) has approved
the plan of Standard Chartered Bank (StanChart) to deal in
derivative products.
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Japanese
carmakers to cut more jobs
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Japanese carmakers plan further downsizing to cope
with the financial crisis, with Toyota cutting 3,000 temporary jobs
and Honda reducing its global production, officials said Friday.
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Bayan seeks lower
inter- connection charges
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BAYAN Telecommunications Inc. wants the National
Telecommunications Commission (NTC) to fast track the planned
reduction of interconnection charges for voice calls and short
messaging service (SMS).
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ALI to bid for
additional UP property
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AYALA Land Inc. (ALI) said it would bid for the right
to develop the last two phases of the University of the
Philippines’ 98-hectare science and technology park.
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LEARNING &
INNOVATION
By Moje Ramos-Aquino, FPM
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Talent is no
guarantee for success
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Let us continue with our
discussion of success, talent aside.
First, author Malcolm Gladwell (Outliers: Secret of Success, Tipping
Point & Blink) wrote:
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