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Thursday, Wednesday, May 27, 2009 |
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San Miguel to keep Meralco stake
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By Chino S. Leyco, Reporter
SOUTHEAST Asia’s largest food and beverage conglomerate will stay
on in Manila Electric Co. (Meralco) despite having failed to secure
a controlling stake in the Philippines’ biggest electricity
distributor.
After efforts to wrest control from the Lopez
group failed, San Miguel Corp. (SMC) on Tuesday said it would pin
its hopes on a tower-sharing agreement among Meralco’s key
shareholders, which besides the conglomerate and the Lopezes, also
include the PLDT group.
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Inflation seen to have eased further in May
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Inflation may have decelerated further this month due to lower
electricity rates and a strong peso, the Bangko Sentral ng Pilipinas
(BSP) said.
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Factory output, imports still in the red in March
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FACTORY output in March fell at a slower pace while a drop in
purchases of electronics and fuel products from abroad pushed
Philippine merchandise imports to contract for the sixth consecutive
month, the National Statistics Office (NSO) reported Tuesday.
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Banks lending more amid fall in BSP placements
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Banks cut their special deposit account (SDA) placements with the
Bangko Sentral ng Pilipinas (BSP), signaling an increase in their
allocation for lending to the business and household sectors.
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Impact of global crisis on BPOs ‘minimal’
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Majority of local business process outsourcing (BPO) industry
leaders said the global financial crisis had minimal impact on their
operations, preliminary results of a recent survey showed.
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Republic Cement eyes construction up tick
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Republic Cement Corp. said it is cautiously optimistic about the
second semester as it remains bullish on the government
infrastructure spending but sees slowing remittances and volatile
weather as threats to private construction.
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PLDT sees ‘strong’ 2Q profits
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PHILIPPINE Long Distance Telephone Co. (PLDT) on Tuesday said it
expects to register “strong” profits in the second quarter due
to higher subscriber growth, its chairman said.
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Group seeks tariff relief on agri products
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The Fair Trade Alliance (FairTrade) is pushing for the government to
suspend further tariff cuts on commodities such as corn, poultry,
rice, sugar and swine and to review trade policies to keep local
agricultural industry from being eroded.
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Globe warns metering scheme to hit earnings
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GLOBE Telecom Inc. warned that the proposed metering device to
capture the revenue streams of the telecom companies would put
subscribers’ right to privacy in “grave danger.”
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PNB, Allied Bank merger by next year
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PHILIPPINE National Bank (PNB) said it expects to complete its
merger with sister-firm Allied Banking Corp. as early as May next
year. Omar Byron Mier, PNB president, said the merger will be
consummated in the next 12 to 18 months.
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Aboitiz Power mulls electric prepaid metering
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The power unit of the Aboitiz group said it is looking at setting up
prepaid metering schemes in its distribution utilities nationwide.
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VIEWS
FROM A BRIT
By Mike Wootton
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Business development
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I have been involved in business development for many years both on
behalf of multinationals as well as both advisor and driver for
entrepreneurial activities. Business development is basically all
about capturing new business...
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