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Wednesday, August 12, 2009 |
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FDI inflows pick up in May
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By Maricel E. Burgonio, Senior Reporter
THE Philippines registered a second month of growth in foreign
direct investment (FDI) inflows in May, with positive balances
across major
accounts, the Bangko Sentral ng Pilipinas (BSP) said Tuesday.
In a statement, the BSP said the country enjoyed
net FDI inflows of $379 million in May, a more than six-fold jump
from the same month last year and accelerating from the more than
three-fold year-on-year increase in April.
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Govt puts up one-stop facility for small businesses
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The Department of Trade and Industry (DTI) has put up a one-stop
facility for micro, small and medium enterprises (MSMEs), alongside
the future site of a building that will house all of the agency’s
offices.
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Petroleum retailers block senior citizen discount
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A GROUP of petroleum retailers said a bill granting senior citizens
discounts on their purchases of gasoline, kerosine, liquefied
petroleum gas (LPG) and other fuel products could squeeze their
margins, forcing them to close shop.
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HSBC sees cut in banks’ reserve requirement
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The Bangko Sentral ng Pilipinas (BSP) is likely to leave its key
interest rates unchanged until the first quarter next year but may
cut the reserve requirement on lenders by next month, an HSBC
economist said.
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Glut in office space to vanish by mid-2010
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THE excess supply of office space will likely vanish by middle of
next year when the last batch of pre-crisis projects come on-stream,
Jones Lang LaSalle Leechiu (JLLL) said.
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Exports fall for ninth month in June
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PHILIPPINE exports fell for the ninth straight month in June as
sales of locally-made goods, particularly electronic products
continued to contract, the government reported Tuesday.
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Customs misses July collection target
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The Bureau of Customs (BOC) said it failed to meet its July
collection goal due to lower imports.
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DOF steers clear of text tax
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The Department of Finance (DOF) is keeping its hands off a bill
imposing a tax on text messages.
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DBP opens loan window for infra projects
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The Development Bank of the Philippines (DBP) has opened a new
lending facility for infrastructure projects to be undertaken by
private corporations and government agencies.
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Lower sales pull Aboitiz Power’s first-half profit
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Aboitiz Power Corp. (AP) said its first-half profit slowed because
of lower sales.
In a report, AP announced a net income of P1.60
billion for the first six months...
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Philex earnings cut by nearly half on loss of tax perk
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The country’s biggest mining company said its profit was cut by
almost half in the first semester due to lower volumes and the
expiration of the Padcal operations’ tax perks.
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Biodiesel, resin sales lift ChemrezTech net income
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Chemrez Technologies, Inc. (ChemrezTech) said it registered a
double-digit profit growth in the first half of the year on the back
of strong biodiesel and oleochemicals sales.
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Smart promo bucked
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A CONSUMER group has moved to stop Smart Communications Inc.’s
unlimited call promo due to alleged “unavailability” of the
service to its subscribers.
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Local stocks inch up
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Philippine share prices closed 0.35-percent higher on Tuesday in
mixed trading with selected blue-chips rising significantly, dealers
said.
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Finance steers clear of measure introducing tax on text
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The Department of Finance (DOF) is keeping its hands off a bill
imposing a tax on text messages.
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Facebook acquires Silicon Valley startup rival to Twitter
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WASHINGTON, D.C.: Facebook announced on Monday that it has acquired
FriendFeed, a Silicon Valley startup, which allows members to see
what their friends are doing online and share content.
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VIEWS
FROM
A BRIT
By Mike Wootton
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Competitive bidding
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I do not doubt that competitive bidding procedures for government
and other contracts are mandated in order to reduce corrupt
practices and in an attempt to achieve the lowest possible cost.
There are however some significant “downsides.”
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