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Thursday, July 16, 2009 |
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US grants duty-free access to RP products
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By Ben Arnold O. De Vera, Reporter
SIX Philippine products, including the country’s century-old
export, abaca hemp, will enjoy duty-free access to the American
market under the US Generalized System of Preferences (GSP), the
Department of Trade and Industry (DTI) said on Wednesday.
In a statement, the DTI said the Office of the
United States Trade Representative (USTR) will award GSP benefits to
the following goods: exposure meters; insulated beverage bag with
outer surface textiles, interior only flexible plastic container
storing/dispensing beverage thru flexible tubing; lead-acid storage
batteries of a kind used as the primary source of electrical power
for electrically powered vehicles; nickel-iron storage batteries, of
a kind used as the primary source of electrical power for
electrically powered vehicles; twine, cordage, rope and cables of
abaca or other (leaf) fibers; and woven or partly assembled
materials of rattan for mats, matting and screens.
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NTC defers rule on load validity accumulation
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The National Telecommunications Commission (NTC) has suspended the
implementation of the mobile phone prepaid load validity
accumulation because the telcos’ software for this purpose is not
yet ready.
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Small, medium American enterprises tap local BPO firms
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As the global economic slowdown takes its toll on businesses, more
small and medium enterprises (SMEs) in the US have begun outsourcing
their back office processes to cut costs, an official of a local
contact center association said.
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Listed firms’ profits drop in first quarter
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PROFITS of the country’s publicly-listed companies fell in the
first quarter of the year, the Philippine Stock Exchange (PSE) said
Wednesday.
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SME CORNER
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Rural banks in fresh bid for small biz lending
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The Rural Bankers Association of the Philippines (RBAP) is pushing a
risk-based lending similar to microfinance but for the small and
medium enterprises (SMEs).
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7-Eleven sets expansion program, eyes more franchisees
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THE operator of 7-Eleven is eyeing to attract more franchisees for
its expansion this year, its top executive said on Wednesday.
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Overseas rallies lift domestic stock market
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Philippine share prices closed 0.95-percent higher on Wednesday,
lifted by rallies in overseas markets, dealers said.
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Obama expects America’s unemployment to rise further
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WASHINGTON, D.C.: President Barack Obama said Tuesday he expects the
US unemployment rate, currently at 9.5 percent, to rise further over
the coming months.
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Bank of Japan holds rates, extends emergency steps
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TOKYO: Japan’s central bank said Wednesday it was extending its
emergency measures to tackle the worst recession in decades, as it
downgraded its outlook for the world’s number two economy.
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Chinese media claims Rio Tinto bribed steel mills
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BEIJING: Anglo-Australian mining giant Rio Tinto has bribed
executives from all 16 of China’s major steel mills, one of the
nation’s most prominent state-run newspapers alleged Wednesday.
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Central bankers release steps to tighten standards
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GENEVA: The world’s biggest central banking body has released a
first set of revised “Basel II” measures requiring some boosting
of capital to remedy banking flaws which were exposed by the
financial crisis.
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Exxon Mobil invests in algae biofuel project
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WASHINGTON, D.C.: Oil giant ExxonMobil announced an alliance
Tuesday with biotech firm Synthetic Genomics to make a new biofuel
from photosynthetic algae.
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San Miguel Properties to buy new Bank of Commerce shares
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THE property unit of Southeast Asia’s largest food and beverage
conglomerate will have the first crack at buying the new shares Bank
of Commerce will be selling.
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Robinsons Land to tap debt market again
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AFTER successfully selling its debt papers, the property arm of the
Gokongwei group announced on Wednesday that it plans another round
of borrowings to fund its capital expenditures.
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Piltel open to investing in other power projects
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The Philippine Long Distance Telephone Co. (PLDT) group is leaving
its doors open to possible investments in the power sector through
its holding firm Pilipino Telephone Corp. (Piltel).
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SM eyes Taguig, Cebu for expansion of IMAX theaters
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An affiliate of the country’s largest mall builder and operator
cinema said it plans to open two more high-end theaters in Metro
Manila and Cebu next year.
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MediaQuest beefs up capex for high-definition pay TV
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MediaScape, a wholly owned subsidiary of MediaQuest Holdings Inc.,
has accelerated its capital expenditure this year for the roll out
of its digital high-definition (HD) pay television service
nationwide.
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