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Friday, October 03, 2008 |
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Amid growing concerns about US crisis impact
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Bangko Sentral rules
out
near-term insolvency for RP
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By Maricel E. Burgonio, Reporter
AMID growing confusion about the
impact of the US crisis on the Philippines, the Bangko Sentral ng
Pilipinas (BSP) announced that the country is far from suffering a
solvency crisis, citing ample dollar reserves.
The country’s reserves slightly
went down to $36.74 billion at end-August from the end-July record
of $36.9 billion.
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Govt will not
revise 2009 spending bill, says DBM
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THE Department of Budget and Management (DBM) said
Thursday the Philippine government would no longer revise the
proposed budget for next year amid concerns the United States
economy will enter into a recession due to the ongoing financial
crisis.
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Finance to meet
GFIs on exposures to troubled US banks
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THE Department of Finance wants to ascertain reports
that some government financial institutions (GFI) have exposure to a
number of troubled investment banking companies in the United
States.
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Peso, stock market
rise on US bailout hopes
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The peso slightly improved, ending 47-to-the-dollar
on Thursday on receding uncertainty after the US Senate endorsed a
revised bailout package for troubled American financial
institutions.
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Chevron to
increase Philippine retail stations by end-December
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Chevron Philippines Inc. will increase its retail
stations by end-December, its top executive said Thursday during the
launching of the company’s Global Fund and Tropical Disease
Foundation.
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Oil firms hold off
price cut, mum about future adjustments
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OIL retailers remain mum about any impending price
adjustment at the pumps despite clamor for more rollbacks.
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Government may
defer sale of shareholdings in Petron
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THE government is prepared to defer the sale of its
shareholdings in the Philippines’ largest oil refiner should the
price turn out unfavorable, the Department of Finance said Thursday.
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Kick-off partnership in choice Quezon City lot
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SM, Lucio Tan
groups eye property development tie up
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THE real-estate arm of the Lucio Tan group launched
on Thursday its latest development project in the proposed Quezon
City Triangle Park central business district (CBD) with Henry Sy’s
SM Hypermart as its anchor retail locator.
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Brunei awards
ICTSI right to operate container terminal
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INTERNATIONAL Container Terminal Services, Inc. (ICTSI)
disclosed to the Philippine Stock Exchange on Thursday that the
Sultan of Brunei Darussalam awarded the company the right to handle
container terminal cargo...
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