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SMIC sets P2.4 B to build exhibition, call center facility
SM Investment Corporation will break ground for two new buildings worth P2.4 billion in the first quarter of 2006 at the 60-hectare SM Central Business Park in Manila.
USTR asked to lift RP watchlist
The Intellectual Property Coalition (IP Coalition), the country’s umbrella organization of IP owners, has asked the United States Trade Representative (USTR) office to remove the Philippines from the Priority Watch List of its Special 301 Report because of the accomplishments of the government’s fight against IP violators despite its limited resources.
Small call center cottage industry eyed
The government has forged a partnership with an American foundation, an international call center solutions provider and a local school to develop 400 to 500 small- to medium-sized call centers in the countryside.
ChevronTexaco wary on gov’t bid to extend utilization of banked gas
ChevronTexaco Malampaya LLC, the other majority stakeholder in the .5-billion Malampaya deep water gas-to-power project, is disinclined to give in to the government’s request to extend the use of the banked gas for the 1,200 megawatt Ilijan natural gas-fired power project.
.1 M allotted for Surigao nickel project
World’s third largest nickel metal producer BHP Biliton and its local firm Surigao Integrated Resources Corp. (SIRC) has allocated a .15 million in capital expenditure for its Aglay nickel project in Surigao del Norte which is set to be constructed by July this year.
DBP cuts up Tier 2 notes in 2 tranches
Government financial institution Development Bank of the Philippines will issue in two offerings its Tier 2 papers upon the request of some investors.
NEWS IN BRIEF
The peso rate closed higher at P52.37 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.645 the previous day. The weighted average rate appreciated to P52.453 from P52.65. Total volume amounted to 6.54 million.
Emergence from bankruptcy clears way for Mirant expansionx
NowPhilippines sees that its pathway has already been cleared into tapping new and viable business opportunities in the domestic power industry. that its parent firm has successfully emerged from Bankruptcy Protection filing, Mirant
First Gen schedules debut listing at PSE on Feb. 10
February will be a busy month for the Philippine Stock Exchange with a company having its debut listing and another offering more shares to the public.
Binderless particle board made from 100% coconut husk
After the successful commercialization of virgin coconut oil (VCO) last year, scientists had discovered a new product out of coconut waste materials, particularly from coconut husks, which can now be used in the local construction industry as particle boards.
IT services seen to post 52% growth
Saying the prospect of IT and IT-enabled services (ITES) is bright, the Board of Investments (BoI) and the private sector are targetting a 52 percent increase in revenues this year to .78 billion from last year’s .49 billion, a 50 percent increase in investments to P16.91 billion over last year’s P12.11 billion and as much as 70 percent increase in the number of seats or jobs creation over last year.
HSBC plans 2nd call center here
Hong Kong Shanghai Banking Corp. (HSBC) Group is set to establish a second call center site in the country following the successful operations of its site in Filinvest, Alabang, Trade and Industry Secretary Peter B. Favila said.
Maynilad taps ABN AMRO as privatization financial advisor
The new board of Maynilad Water Services Inc. has approved investment banker ABN AMRO as financial advisor for the sale of the government’s 84 percent rights in the utility, which was previously held by Benpres Holdings Inc.
SEC asked to order PHC to hold meet
Philcomsat Holdings Corporation stockholders (PHC) urged the Securities and Exchange Commission (SEC) to order the publicly listed company to call a stockholders’ meeting following its failure to conduct such meeting in 2005.
DTI seizes substandard steel bars
The Department of Trade and Industry (DTI) has seized about half a million peso worth of substandard steel bars as part of its continuous crackdown against substandard steel products in the market.
Oil majors chase natural gas in new power quest
LONDON, Jan. 12 (Reuters) — Once neglected, natural gas has won top billing from oil majors that are pouring billions into projects to meet booming demand for clean-burning fuel.
RP exports to China register rapid growth
The government will explore more trade opportunities in China following a significant growth of Philippine exports to that country.
Asian currencies hit new highs vs dollar
SINGAPORE, Jan. 12 (Reuters) — Asian currencies hit fresh multi-month highs against the dollar on Thursday as traders bet that the US currency had further to fall after a brief consolidation early this week.
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