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Friday, June 26, 2009 |
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April economic data show weak start in 2Q
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By Darwin G. Amojelar, Senior Reporter
THE government’s claim of an improvement in the Philippine economy
in the second quarter of the year is nowhere evident in the first
month of that period, as imports and factory output contracted at a
faster pace in April.
In a statement, the National Statistics Office (NSO)
said the country’s purchases of goods abroad fell at a faster 37.4
percent to $3.041 billion that month, from the year-on-year
contraction of 36.2 percent in March.
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Stay in US Fed rates positive–BSP
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The Bangko Sentral ng Pilipinas (BSP) said its US counterpart’s
decision to hold its interest rates should have a positive impact on
economic recovery prospects.
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Moody’s to cut outlook for RP banks on loans slowdown, low interest rates
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PHILIPPINE banks will find themselves in a tight spot, as a slowdown
in lending and low interest rates would squeeze their earnings,
according to Moody’s Investors Service.
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Local bourse exec pushes separate courts to handle commercial cases
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THE president of the Philippine Stock Exchange (PSE) is pushing for
a collegial commercial court that would exclusively hear corporate
cases.
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Window-dressing, key blue chips lift market
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Philippine share prices closed 2.14-percent higher on Thursday
lifted by key blue chips and half-year window dressing, dealers
said.
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World Bank approves irrigation assistance
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The World Bank said it has approved the first phase of a 15-year
adaptable program loan (APL) to help finance a Philippine irrigation
project.
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TV networks see earnings boost despite global crisis
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THE country’s two leading broadcasting companies expect their
respective profits to expand by the first half of the year despite
the economic slowdown.
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Seaoil to sell gas with highest octane
rating
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Oil firm Seaoil Philippines Inc. is set to launch a new
ethanol-blended gasoline product with the highest octane rating in
the market.
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Chinatrust profit climbs on loans
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Chinatrust (Philippines) Commercial Bank Corp. said its net income
in May surged on the back of higher interest income, mainly from
corporate loans.
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BIZZ
FIZZ
By Rene Martel
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Smart goes green on cell
sites
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IN a welcome eco-friendly move, telecom leader Smart, having
previously harnessed wind and solar energy to power cell sites, is
set on deploying fuel cell technology as part of its “Alternative
Power for Cell Sites” program—the first industry player to do
so.
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