|
|
|
Friday, April 03, 2009 |
|
|
|
BSP warns of rising debt-service costs, liquidity drain
|
|
By Maricel E. Burgonio, Senior Reporter
FEW funds will be available for spending on infrastructure and
social services as the debt service costs of the private and public
sectors are likely to rise on a weaker exchange rate and inadequate
credit for productive purposes, the Bangko Sentral ng Pilipinas (BSP)
warned Thursday.
Addressing members of the Management Association
of the Philippines, BSP Governor Amando Tetangco Jr., said these are
the possible challenges to the Philippine economy specifically for
the financial system and external sector amid the global financial
crisis.
|
|
 Full
Story>>
|
|
|
|
|
|
|
|
|
Wall St. upturn lifts local stocks
|
|
Philippine shares closed 0.79 percent higher on Thursday, lifted by
the upturn in the US stock market, dealers said.
|
|
Full
Story>>
|
|
|
|
|
SunPower to expand Philippine operations
|
|
Despite the financial crisis’ crippling effect on local export
enterprises, solar cell manufacturer SunPower Corp. said it plans
to expand its operations in the country.
|
|
Full
Story>>
|
|
|
|
|
Globe Telecom seeks more fresh capital amid tighter rivalry
|
|
GLOBE Telecom Inc. on Thursday announced that it will borrow more
money to finance its expansion plans this year to protect its market
share amid the aggressive expansion of rival Philippine Long
Distance Telephone Co. (PLDT) and the entry of San Miguel Corp.
(SMC) into the telecom business.
|
|
Full
Story>>
|
|
|
|
|
NGO says ERC approval of Napocor rate hike illegal
|
|
The Energy Regulatory Commission’s (ERC) decision to allow
state-owned National Power Corp. (Napocor) to increase its rates was
illegal as it goes against jurisprudence and the power firm’s
charter, the Freedom from Debt Coalition (FDC) said.
|
|
Full
Story>>
|
|
|
|
|
Investors flock to SM Prime debt paper sale amid crisis
|
|
THE Philippines’ biggest mall owner and operator said its debt
paper issuance was oversubscribed despite the volatile market.
|
|
Full
Story>>
|
|
|
|
|
Filinvest Land profit climbs on low-end housing sales
|
|
Filinvest Land Inc. (FLI) announced Thursday that its profit last
year grew by more than a quarter due to the robust earnings from its
low-end residential housing projects.
|
|
Full
Story>>
|
|
|
|
|
GMA Network posts slower profit growth
|
|
GMA Network Inc. on Thursday reported a slower growth net profit
last year as the impact of the US financial crisis began to hurt the
Philippines in the fourth quarter.
|
|
Full
Story>>
|
|
|
|
|
Trans-Asia to invest more in renewable energy
|
|
Listed-firm Trans-Asia Oil and Energy Development Corp. (TA Oil)
will start pouring in investments in its renewable energy arm in
line with its plans to diversify into cleaner energy production.
|
|
Full
Story>>
|
|
|
|
|
Bacnotan profit dips on paper losses
|
|
BACNOTAN Consolidated Industries Inc. (BCII) said Thursday its net
income fell last year due to the financial crisis that that brought
the company and its affiliate AB Capital and Investment Corporation
to book mark-to-market losses on financial assets.
|
|
Full
Story>>
|
|
|
|
|
NLEX operator taps bank loan for road expansion
|
|
METRO Pacific Tollways Corp. (MPTC) said Thursday that its North
Luzon Expressway (NLEX) concessionaire, Manila North Tollways Corp.
(MNTC), will commence the construction of the second phase of its
road-building after the company secured a fresh bank loan.
|
|
Full
Story>>
|
|
|
|
|
First Philippine Holdings profit falls despite sale of infrastructure subsidiary
|
|
FIRST Philippine Holdings Corp. announced Thursday that its net
income last year suffered a huge drop due to high financing costs
and foreign exchange losses.
|
|
Full
Story>>
|
|
|
|
|
Weak trading revenues pull down Philippine Savings Bank income
|
|
PHILIPPINE Savings Bank (PSBank) said it suffered a single-digit
drop in net income last year due to the decline in trading revenues.
|
|
Full
Story>>
|
|
|
|
|
Metrobank unit raises money from debt paper sale
|
|
METROBANK Card Corp. (MCC) said it has raised fresh money from the
sale of debt papers.
|
|
Full
Story>>
|
|
|
|
|
Dutch firm to put up BPO venture
|
|
A DUTCH company is putting up a business process outsourcing (BPO)
company in the Philippines through a joint venture with a local
player.
|
|
Full
Story>>
|
|
|
|
|
Local firms eye
Aplaya-General Santos plants – PSALM
|
|
STATE-RUN Power Sector Assets and Liabilities Management Corp.
(PSALM) said that two investors are keen on acquiring the retired
Aplaya-General Santos generating plants.
|
|
Full
Story>>
|
|
|
|
|
BIZZ
FIZZ
By Rene Martel
|
|
Aussie boost for Philippine
economy
|
|
IN a positive move to boost the economy of the Philippines,
Australian Ambassador Rod Smith and Department of Interior and Local
Government Secretary Ronaldo Puno formally signed an agreement for a
Provincial Road...
|
|
Full
Story>>
|
|
|
|
|
|
| |
