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Tuesday, May 19, 2009 |
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End-April fiscal
deficit jumps
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By Lailany P. Gomez, Reporter
THE Philippines’ fiscal surplus
fell sharply last month owing to lower revenues amid higher
expenditures.
In a briefing, Finance Secretary
Margarito Teves said the government’s April surplus narrowed to
P7.9 billion, down nearly 70 percent from P25.8 billion last year.
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Benchmark rates
barely move
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Short-term interest rates barely moved during
Monday’s auction of Treasury bills amid anticipation the Bangko
Sentral ng Pilipinas (BSP) would cut interest rates.
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Moody’s keeps
rating outlook on PLDT
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MOODY’S Investors Service on Monday said no change
in the credit rating of the Philippines’ biggest telecom company
is forthcoming in the next six months to a year as a result of its
investment in the country’s largest...
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Meralco backs
shift to uniform franchise tax
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MANILA Electric Co. (Meralco) gave its full support
to two Senate bills aimed at bringing down the country’s power
rates.
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State insurer to
tighten rules against bank deposit splitting
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THE Philippine Deposit Insurance Corp. (PDIC) said it
will put in place new rules to prevent deposit splitting, a practice
whereby a depositor transfers money in excess of the maximum
insurance coverage...
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Megaworld profit
falls on weak condominium sales
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Megaworld Corp.’s profit fell in the first quarter
of the year due to weak sales of condominium units.
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Lower Malampaya
take pulls PNOC-EC earnings
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Philippine National Oil Co.-Exploration Corp.’s (PNOC-EC)
said its net income declined by about a fifth in the first quarter
of the year because of lower revenues from the Malampaya gas field,...
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Digitel cuts
losses on improving wireless biz
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DIGITAL Telecommunications Phils. Inc. (Digitel) said
losses in the first three months of the year declined by more than
half due to higher revenues from wireless business.
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Anchor Land net
income rises sharply on niche market offering
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HIGH-END developer Anchor Land Holdings on Monday
said its net income rose sharply in the first quarter of the year on
the back of strong sales, especially to its niche market, despite
the economic slowdown.
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Robinsons Land
plans debt-paper sale
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THE property arm of the Gokongwei group on Monday
said it will raise new capital through the issuance of debt papers
to fund its capital expenditure this year.
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Korea extends
loan for agri, medical centers
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THE South Korean government has committed millions of
dollars in loan assistance to the Philippines this year to finance
medical centers and improve agricultural production.
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Mining, energy to
prop investments–BOI
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Despite the fall in first quarter investment pledges,
the Board of Investments (BOI) said it is optimistic that mining and
energy projects would beef up approvals for the rest of the year.
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RP
reverts to dollar surplus on govt loans
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THE country is again in the black as of last month,
according to the Bangko Sentral ng Pilipinas (BSP), with its data
showing the balance of payments (BOP) reverted to a surplus from the
deficit in March.
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MANAGING FOR SOCIETY
By Mely Clerigo
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Personal morality
and ethical leadership
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The following discussions were lifted from an article
that talked about moral persons and moral managers. “Personal
morality is associated with ethical leadership.
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