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Saturday, April 04, 2009 |
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Ayala group cuts
capex due to crisis
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By Chino S. Leyco, Reporter
AYALA Corp. on Friday announced
that it cut this year’s capital spending program after its profit
Plunged last year. Jaime Augusto Zobel de Ayala, the
conglomerate’s chairman and chief executive, said it reduced its
consolidated capital expenditure by 11 percent to P49 billion from
P55.457 billion in the previous year.
“We expect 2009 to be a
challenging year, as the full impact of the global financial crisis
on the real economy continues to unfold,” Zobel told the
company’s stockholders.
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Calls for
protectionism on the rise
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CALLS for protectionism is on the rise, with the
Federation of Philippine Industries (FPI) joining the list of groups
urging a reconsideration of the country’s commitments under the
Asean Free Trade Agreement (AFTA)...
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Bank lending
continues slowdown
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BANK lending continued to slow last February, matched
by a similar easing in the growth of the country’s money supply.
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Peso back at
47-to-a-dollar
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THE peso rose back to the 47-to-a-dollar level, while
Philippine shares rallied on Friday, with dealers ascribing the rise
to positive economic news coming out of the United States.
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Subsidies to
state-owned firms jump
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STATE subsidies to government-owned and -controlled
corporations (GOCCs) at end-February jumped, according to the
Department of Finance.
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More residents
take out dollar-denominated loans
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MORE Philippine residents took out dollar loans last
year, as loans granted by foreign currency deposit units (FCDUs) of
banks grew by double digits, according to the Bangko Sentral ng
Pilipinas (BSP).
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Shell says it can
temper price increases amid public clamor
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THE local unit of Shell said it can moderate its
price increases, following complaints from the
motoring public.Bobby Kanapi, Pilipinas Shell Petroleum Corp. vice
president for communications,...
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Galoc set for
another crude delivery to Japan
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GALOC Production Co. (GPC) is set to deliver another
shipment of crude to Japan next week.
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Yehey in tie-up
for ads
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Yehey! Corp., the local search engine and online
content developer will partner with a digital marketing company for
a venture into online advertising and marketing.
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PAL renews
Lufthansa maintenance deal
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PHILIPPINE Airlines (PAL) said it signed a 12-year
aircraft engine maintenance contract with Lufthansa Technik Group.
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LEARNING &
INNOVATION
By Moje Ramos-Aquino, FPM
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Habits are hard
to break, but it is not impossible
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SO we’re having trouble with our habits. And with a
lot of worrying going around because of the downtrend in the
economy, people and organizations realize that this may not be the
best of times to quit...
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Story>>
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