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Average 182-day T-bill rate falls to 6.435% from 6.807%
The average 182-day rate fell to 6.435 percent from 6.807 percent previously, with tenders reaching P9.01 billion. But bids for the 91-day T-bill were rejected by the auction committee due to the high rates submitted.
DENR slaps P10.4-M fine on mining firm
The government has imposed a P10.4-million fine on the Rapu Rapu gold operation and has required Australia-based Lafayette Phils. Inc. to obtain an ISO 14001 certification so as to assure that a cyanide spill in Bicol region’s forest and marine resources will not recur.
New oil players market share widens to 14%
The share of the new players in the oil industry has been levered up to 14.2 percent in 2005; with the aggressive marketing strategy they have been employing, especially in the liquefied petroleum gas (LPG) business.
CITEM posts 8.18 M in exports earnings
The Center for International Trade Expositions and Missions (CITEM), the export trade promotions agency of the Department of Trade and Industry, has generated 8.18 million in exports earnings last year from its international fairs.
Business leaders to meet on No-El proposal
Business leaders are expected to meet soonest to come up with a common position on the controversial proposal by the Consultative Commission (ConCom) on Constitutional changes to cancel the scheduled 2007 elections for elective officials with expiring term and extend it to June 2010 coinciding with the President, vice president and the 12 Senators elected in 2004.
Business Options
Acting Commissioner Napoleon Morales of the Bureau of Customs (BoC) recently announced his action plan to collect P192 billion in revenues this year. While this may be an ambitious target at 92 percent higher than previous years, local manufacturers, represented by the Federation of Philippine Industries (FPI), is in full support of this effort.
SM Investments to spend P10 billion to P12 billion in capital expenditures this year
Publicly-traded SM Investments Corp. (SMIC), will spend P10 to P12 billion in capital expenditures this year, an official from the company said.
Foreign direct investments to hit 0 million — BSP
The country’s foreign direct investments by nonresidents are expected to reach 0-million this year.
O2P launches Blogsource
Outsourcing consultancy firm Outsource2Phil-ippines (O2P) recently launched Blogsource, a news blog featuring commentaries by leading industry analysts Frank Holz, Greg Domingo and Michael Alan Hamlin.
Syngenta Phils. bags crop protection award
The National Product Quality Excellence Awards has conferred leading global agribusiness Syngenta Philippines, Inc., the Best Crop Protection Company Award at a formal ceremony recently held at the Crowne Plaza in Ortigas Center, Pasig City.
Domestic industries put pressure on TRM
Domestic industries are putting pressures on the Tariff and Related Matters (TRM) committee to come up with the new comprehensive tariff program on most favored nation (MFN) tariffs saying they cannot move on with their plans unless government has made up its mind on the tariff levels.
Gold price soars to 2, highest level since 1981
SINGAPORE, Jan. 9 (Reuters) — Gold rose on Monday to its highest level in almost 25 years, gaining 1 percent on the day as fund managers poured money into the market driven by expectations US interest rates have almost peaked.
Asian currencies at multi-month highs
SINGAPORE, Jan. 9 (Reuters) — The Indonesian rupiah led a list of Asian currencies to multi-month highs on Monday as they benefitted from the US dollar’s broad weakness, but suspected intervention by regional authorities capped gains.
P/$ rate closes at P52.480 to
The peso rate closed higher at P52.480 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.52 last Friday. The weighted average rate appreciated to P52.421 from P52.646. Total volume amounted to 4.3 million.
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