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VAT increase to raise gas prices by P.55-P.70/liter
With the implementation of the additional two-percent value-added tax (VAT) on specified commodities and services, the price of petroleum products at the pump already started inchiAng up at a range of P0.55 to P0.70 per liter effective 12:01 a.m. Wednesday (February 1).
Gov’t ups budget for capital outlays
The National Government will spend higher for capital outlays this year or P133.2 billion, which is 2.3 percent of gross domestic product, the highest since the late 1990s.
Hyundai posts 103% RP sales growth
Hyundai Asia Resources Inc. (HARI), the exclusive distributor of Hyundai vehicles in the Philippines, has reported an impressive 103-percent growth in sales last year versus 2004, making it the second fastest growing automotive brand in the country next only to Mazda.
12% EVAT seen to yield P75-B revenues
The 12 percent Expanded Value-Added Tax, which takes effect today, is projected to yield P75 billion in the next eleven months and in four years about P120.44 billion additional revenues for the government, enough to wipe out the chronic budget deficit.
Peso gains continue; closes at 3-year highs
The peso ended at a fresh, almost 3-year high against the US dollar yesterday after convincingly breaching the R52.250 support level amid a confluence of factors in its favor.
Sales of pre-need companies plunge 44.3% in 2005 to P36.9 B
Pre-need sales for the year 2005 plunged 44.34 percent to P20.54 billion from P36.91 billion in the year 2004 as lack of public confidence took its toll on the industry.
First Gen opens IPO to retail investors; listing debut set Feb. 10
First Generation Corporation yesterday opened its public offering to retail investors, bringing the company one step closer to its debut listing on Feb. 10 this year.
Gardenia Bakeries boosts ’05 sales to P1.2 B, up 25%
Singaporean-owned Gardenia Bakeries (Philippines), Inc. posted a 25 percent increase in sales last year to end with P1.2 billion in net sales over P960 million in 2004 despite a flat industry growth last year as consumers scrimped on their purchases.
DoCoMo buys 7% stake in PLDT for 3 M; technology boost seen
NTT DoCoMo, Inc. acquired 7 percent of Philippine Long Distance Telephone Company (PLDT)’s shares from NTT Communications, Inc. for ¥52,103 million, around US0 million, PLDT disclosed yesterday.
ERC ruling on pricing scheme stalls WESM’s operation
Despite too much hard work already poured out to bring to fruition the establishment of the Wholesale Electricity Spot Market (WESM), slippage remains in its commercial operation because of the skidding action of the Energy Regulatory Commission’s (ERC) on bids for approval of the pricing schemes and market fees to govern trading in the electricity spot market.
ExxonMobil boosts record -B earnings
WASHINGTON, Jan. 31, 2006 (AFP) — ExxonMobil Corp. Monday booked record earnings of .1 billion in 2005, reviving claims that the oil industry is profiting from sky-high prices at the expense of hard-pressed consumers.
P/$ rate closes at P52.17 to
BPI earns P8.1 B, up 21%
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