| |
|
|
 |
 |
|
NG to issue bonds to BSP for advances of IMF dues
It has been suggested that the National Government issue zero-coupon bonds or a "no interest" debt security to pay the central bank the P13 billion it owes for shouldering membership dues with the International Monetary Fund.
118,141 jobs to be generated
The Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA) approved a total of P231 billion worth of projects in 2005 enabling the government’s two premier investment-generating agencies to hurdle the 10 percent growth target over P210 billion in 2004 set out under the Medium-Term Philippine Development Plan.
EIB secures P7-B PDIC ‘soft’ loan
The Export and Industry Bank (EIB) has been granted by Philippine Deposit Insurance Corporation (PDIC) a "soft loan" of P7 billion in exchange for the latter’s acquisition of its P10 billion non-performing assets (NPAs)
For new providers of VOIP
Telecom regulators require new providers of Voice Over Internet Protocol (VOIP) to have at least 60 percent Filipino ownership, with a minimum of P10 million paid-up capital, on top of posting a P5 million performance bond and showing valid interconnection agreements with telcos.
NDC plans up to P20-B bond flotation
As the government is shying away from foreign borrowings for its economic pump priming activities, the National Development Co. (NDC) is tasked to help fund such projects by undertaking between P10 billion to P20-billion bond float.
NEWS IN BRIEF
The peso rate closed at P52.395 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P52.440.
BUSINESS and SOCIETY
The brightest of the sunrise sectors of the Philippine economy for 2005 was the ICT outsourcing sector which can be segmented into Information Technology Outsourcing (ITO) and Business Process Outsourcing (BPO). The global market for ITO in 2004 was US3 and US9 billion for BPO. The Philippines is playing a major role in BPO, next only to India in Asia. In the call center sector, the Philippines attained a 100 percent growth in 2005 from 40,000 seats in 2004 to 80,000 seats in 2005, the fastest rate in the whole of Asia.
Shell creates new unit to focus on alternative fuels utilization
As it positions to take itself steps ahead in the utilization of alternative fuels, Pilipinas Shell Petroleum Corporation reportedly created a new unit that will be devoted to mapping out its strategy in this program.
Investors to continue blue chips buy
Stock investors are likely to continue accumulating select blue chips as companies expect better earnings due to lower interest rates and strong dollar inflows from overseas workers.
GMA Network proposes special purpose vehicle for IPO
GMA Network, Inc. has proposed to form a Special Purpose Vehicle (Newco) that will own common shares of the company and later issue Philippine Deposit Receipts (PDRs) as part of its upcoming Initial Public Offering and listing of shares at the Philippine Stock Exchange.
Water heater distributor expands marketing network
Change is the only thing constant in this world, and with the changing of the year, JETT Water Heater Co. embarks on a major change in its operational strategy.
P11-B rehab, upgrading on SLEX set to start
After a year-long delay, the P11 billion extension and widening project of the South Luzon Expressway (SLEX) is finally getting off the ground following the resolution of all issues under the Supplemental Toll Operations Agreement (STOWA).
$ falls on disappointing US retail, price data
NEW YORK, Jan. 13, 2006 (AFP) — The dollar faded Friday as traders digging into reports on US retail sales and wholesale prices found soft conditions that could lead to an easier monetary stance from the Federal Reserve.
|
|
|
 |
|
