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Saturday, May 23, 2009 |
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AS KIRIN SHIFTS EXPOSURE TO SMB
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San Miguel hikes stake in local telco
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By Chino S. Leyco, Reporter
ONE of Japan’s biggest beer makers has completed its exit from
San Miguel Corp. (SMC), as Southeast Asia’s largest food and
beverage conglomerate followed through on its diversification with
the purchase of an additional substantial stake in a Philippine
telecom company.
In a disclosure to the Philippine Stock
Exchange, SMC said its board of directors authorized the purchase of
up to 49 percent of Liberty Telecommunications Holdings Inc. The
conglomerate will buy an initial 32.7 percent stake in Liberty for
P2.2 billion.
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Banks’ bad loans drop at end-March
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Universal and commercial banks (U/KBs) have continued to reduce
their bad loans in March, an indication that banks have improved its
asset quality despite the slowdown in economic growth, Bangko
Sentral ng Pilipinas (BSP) said on Friday.
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Ashmore eyes RP energy renewables
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A LONDON-BASED asset management firm that controls the
Philippines’ biggest oil refiner plans to invest in the local
renewable energy sector.
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Tax on books anti-poor, says Unesco
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The Unesco National Commission of the Philippines said the move to
slap taxes on imported books and other reading materials is
anti-poor in light of the government’s need for new and additional
sources of revenue.
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Metro Manila construction material prices decline
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RETAIL prices of construction materials in Metro Manila fell sharply
in March compared with the same period last year, the National
Statistics Office said.
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Govt preparing multiyear investment promotions plan
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The country’s investment promotion agencies on Friday signed an
accord that will lay the foundation for the development of the 2010
to 2014 Philippine Investments Promotions Plan (PIPP) within this
year.
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Japanese central bank sees recession easing
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TOKYO: Japan’s worst post-war recession appears to be easing, the
central bank said Friday as it upgraded its assessment of the
world’s number two economy for the first time in almost three
years.
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Govt failures led to emerging market crises–Nobel winner
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HANOI: Economic crises in emerging markets have been caused by
governments’ neglect to control the inflow of foreign capital,
Nobel prize winning economist Paul Krugman said Friday.
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US to steer GM into bankruptcy
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WASHINGTON, D.C.: The US government is readying to steer General
Motors into bankruptcy with a plan to fund the ailing automaker with
tens of billions of dollars in extra public financing, the
Washington Post said Thursday.
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BHP plans new major uranium project
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SYDNEY: Global resources giant BHP Billiton announced plans Friday
to develop a major new uranium mine in Western Australia after the
state lifted a ban on production of the nuclear fuel.
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Aboitiz group defers Subic coal plant
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ABOITIZ Power Corp. (AP) will put off the construction of a
coal-fired power plant in Subic, Zambales even as the Luzon grid is
forecast to suffer from electricity shortages starting next year.
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ICTSI bags permit for Brunei port operations
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INTERNATIONAL Container Terminal Services Inc. (ICTSI) on Friday
said it won a permit to operate a container terminal in Brunei
Darruslam for four years.
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Globe borrows anew for capital expenditure program
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Globe Telecom Inc. raised fresh funds for its expansion plans
through the sale of fixed- and floating-rate notes.
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Alliance Global profit up in 1Q
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Alliance Global Group Inc. (AGI) announced on Friday that it posted
a double-digit growth in net income in the first quarter of the year
due to higher earnings shored up by its operating units.
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Furniture exporter secures tax perks
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The Board on Investments (BOI) said it approved the application for
tax incentives and other perks of a Cebu-based furniture exporter.
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Generali Pilipinas posts higher premiums
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Generali Pilipinas announced that its individual life premiums in
the first quarter this year posted a record-breaking performance
owing to a higher market share and growth.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Protest against book
blockade
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Books are very much a part of my life. I always say that I have my
own library at home and the books are all over my house. And so
my friend Rene Mayol would always correct me, “You live in a
library.”
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