| |
|
|
 |
 |
|
Japanese firm mulls P5.6-B Metro Manila medical facility
Tokushukai Medical Corp., Japan’s biggest chain of medical facility, is insisting of putting up its planned P5.6- billion medical facility within metropolitan Manila before it could branch out to other areas in the country.
SEAIR acquires third aircraft
South East Asian Airlines (SEAIR) has acquired a third Dornier 328 plane and will be bringing a fourth one later this year to meet rising demand for fast flights to Caticlan (Boracay) and free up other planes for the new Caticlan to Busuanga, Palawan flights.
Spanish chamber for free ownership
The Spanish Chamber of Commerce (La Camara), the oldest organization in the country, yesterday gave its full support towards the setting of broader economic boundaries in the proposed constitution.
Investors in hybrid rice growing eyed
International financial consultancy firm Ernst & Young is scouting for options to draw in local or foreign investments in the hybrid rice sector with its highly-visible growth prospects that’s luring the Salim Group of Indonesia to invest in it.
Comm’l banks’ loans hit P1.8 T in 2005
Universal and commercial banks’ total loan portfolio grew 5.26 percent to P1.878 trillion last year from P1.784 trillion in 2004, the Bangko Sentral ng Pilipinas (BSP) said in a report.
Positive rating outlook expected to remain
The country’s positive credit outlook before the international financial community is expected to remain despite the political uncertain caused by the foiled coup attempt to oust President Arroyo in power.
Taiwan-RP export corridor deal to boost Subic-Clark investments
The expected signing by Taiwan and the Philippines of a super export corridor agreement between the special economic zones of Clark and Subic in the Philippines and Kaoshiung in Taiwan next month is seen to trigger off bigger Taiwanese investments in Luzon.
Stronger border controls sought with neighbors to enhance IPR enforcement
The Philippine government is looking at stronger border controls on a bilateral basis with neighboring countries as it aims for a complete removal from the Special 301 watchlist in a year or two.
Sale of geothermal plants with sales contracts set
The stumbling block previously impeding the privatization of the geothermal assets of the Philippine National Oil Company-Energy Development Corporation (PNOC-EDC) has finally been cleared, with the Joint Congressional Power Commission (JCPC) endorsing sale of the power plants with attached steam sales agreement.
Lifting of Japan’s ban on RP poultry exports being worked out
The Philippines and Japan are working on the lifting of a suspension of Manila’s exports of frozen chicken to Tokyo to be able to supply its huge poultry products requirement, which is being supplied by Brazil and Thailand.
Gov’t negotiates price for outright purchase of IS Makati property
Property developers including Ayala Land Inc. are offering to buy-out the old International School property in Makati but the government seems to be having a hard time upping the sale price to at least P1.186 billion, which is the upraised value of the land.
Dinagat chromite mine starts this year
State-owned Natural Resources Mining Development Corp. (NRMDC) is anticipating operations this year of the Dinagat Island chromite project as contractor United Philippines China Mining Corp. (UPCMC) finishes feasibility study (FS) in the third quarter.
Cost adjustments for utilities seen reverting to PPA scheme, ERC says
The Energy Regulatory Commission (ERC) has indicated that if the Generation Rate Adjustment Mechanism (GRAM) is nullified by the Supreme Court, the mode of recovery of power cost adjustments will revert back to the purchased power adjustment (PPA) scheme.
Global firms forecast to continue outsourcing
Global companies who want to boost their competitiveness resort to outsourcing to improve their cost position and create jobs.
Internet growth lures more online traders
Banking on the country’s robustly increasing Internet penetration rate, online stock brokerage firm CitisecOnline recently launched a campaign to attract more retail investors to the equities market.
Business and Society
There is something terribly wrong in a society like the Philippines in which more than 30% of the population go to bed hungry everyday. Such a society requires a thorough restructuring so that every single person can attain his or her fullest human development.
DoF aiming to raise RP tax effort
The Department of Finance is targeting a tax effort of 15.7 percent of gross domestic product next year and 16.1 percent by 2008, which would reduce the country’s need for foreign borrowing.
DUs object to penalty clause in supply deals
The provision on imposition of penalty or premium if contracted demand in the bilateral power supply deals will exceed the 20 percent threshold in the mandated cap has been drawing dissent from distribution utilities.
Turner to leave Time Warner board
NEW YORK, Feb. 26 (Reuters) — Time Warner Inc. on Friday said Ted Turner will leave the board after its upcoming annual meeting, exiting a media empire he helped create, sometimes criticized and, more recently, played a diminished role in directing.
Spain defies EU, to block E.ON bid
MADRID, Feb. 26 (Reuters) — Spain defied the European Union on Friday by announcing measures designed to block German power giant E.ON’s 29-billion-euro (.49 billion) bid for Spain’s biggest power company Endesa .
Low inflation fosters economic growth — Bernanke
WASHINGTON (AP) — Ben Bernanke, in his first public speech as Federal Reserve chairman, laid out a scholarly case that keeping inflation low and stable tends to foster economic growth and jobs.
Asian Aerospace clinches record USD15-B deals
SINGAPORE, Feb. 26, 2006 (AFP) — Asian Aerospace, the world’s third largest air show, clinched a record USD15.2 billion in deals this week following a spate of aircraft orders geared to meet booming travel demand.
Stocks close 0.94 percent higher
MANILA (AFP) - Share prices closed 0.94 percent higher Monday as strong results from Philippine Long Distance Telephone (PLDT) offset damage from continuing political turmoil, dealers said.
Sokor firm to build shipyard in Subic
SEOUL (AFP) - South Korea's Hanjin Heavy Industries and Construction said Monday it had sealed a 721 million dollar investment plan to build a shipyard in the Philippines.
NEWS IN BRIEF
The peso rate closed at P52.20 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P52.009.
|
|
|
 |
|
