The Philippine Stock Exchange (PSE) board has chosen incumbent PSE director Francis Ed. Lim to be the bourse’s new president, to replace Dr. Cayetano Paderanga, Jr. who resigned last month.
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Merchandise exports grew 15.3 percent in May 2004 compared with the same month last year due to the robust growth in the country’s top three export products: Electronics, machinery and transport equipment, and garments.
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The Japan Bank for International Cooperation (JBIC) has agreed to provide the Philippine government financial and technical assistance needed to develop the country’s small and medium enterprises who will engage in the manufacturing sector.
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The Securities and Exchange Commission (SEC) has sought the assistance of the Philippine Finance Association, the organization of registered finance companies in the country, to police their own members and curb illegal activities.
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The peso closed lower at P55.945 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.78 the previous day. The weighted average rate depreciated to P55.895 from P55.861. Total volume amounted to $167.55 million.
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The Court of Tax Appeals (CTA) has dismissed a case filed by Japanese cement importer Southern Cross Cement Corp. (SCCC) against the local cement industry (Cement Manufacturers Association of the Philippines Inc.), the Department of Finance, the Department of Trade and Industry and the Bureau of Cus
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The country’s annual inflation rates accelerated to 5.1 percent in June 2004 from 4.5 percent in May and 3.4 percent a year ago (based on the 1994 basket of commodities), the highest inflation rate recorded since November 2001.
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Bangko Sentral ng Pilipinas Governor Rafael B. Buenaventura will announce today the results of the First BSP Business Expectations Survey (BES) Awards at the annual meeting of executives from the nation’s top corporations at the Philippine International Convention Center.
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The National Food Authority (NFA) awarded yesterday the importation of 200,000 metric tons (MT) of rice to five companies the bulk of which totaling to 150,000 MT was awarded to Vietnam state trading firm Vietnam Southern Foods Corp. (VSFC) even as government rushes buffer stocking for the lean mont
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TOKYO, Japan —The Japan Bank for International Cooperation (JBIC) and National Transmission Corporation (Transco) of the Philippines are already close to settling some contractual issues in preparation for the drawdown of the $68 million (6.8 billion yen) for the Leyte-Cebu interconnection project.
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Globe Telecom Inc., the country’s second largest cellular company, is asking holders of its senior notes due 2012 to ratify indenture covenant changes that would give it more flexibility in handling its finances.
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The automotive industry recently proposed to Trade and Industry Secretary Cesar Purisima an auto parts industry-clustering program that will see an increase in total exports in transmissions and allied parts alone from P11.4 billion in 2004 to P15.4 billion by 2006.
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