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AusAid mulls A$ 20-M grant for RP aeromagnetic survey
The Australian Agency for International Development (AusAid) is set to complete this month a scoping work for a planned grant to the Philippines estimated at A$ 20 million for the state-of-the-art aeromagnetic survey.
PSALM requires Filipinization of firms buying TransCo assets
The Power Sector Assets and Liabilities Management Corporation (PSALM) is requiring that those eyeing as concessionaire for the National Transmission Corporation (TransCo) shall work on becoming Filipinized corporations.
Franchise Excellence Awards set tomorrow
The most prestigious and the only franchise excellence awards in the country, the Franchise Excellence Awards 2005, will honor tomorrow (March 20) the country’s top franchises at the Grand Ballroom of the Crowne Plaza Galleria Manila, Ortigas Center, Pasig City.
Ford hastens flexible fuel engine project
Ford Philippines announced yesterday it was fast tracking its flexible fuel engine and vehicle-manufacturing program to further strengthen its operations in the Philippines.
Boom in grain imports spurs building of new bulk handling ports
Eduardo Alino only opened his grain bulk handling facility at Subic freeport, a former US base northwest of Manila, in January but he’s already planning to double its capacity to meet the country’s growing appetite.
Credit bureau seen to lower cost of borrowings from banks
The Bangko Sentral ng Pilipinas said the proposed centralized credit information bureau will make it "less of an issue" to pay for borrowers’ credit, it would in fact facilitate credit, expedite loan applications and lower the default rate.
Local firm plans to manufacture anti-rabies serum
A biotechnology company that will produce the first locally-manufactured anti-rabies serum (ARS) is seeking a P200-million loan with the Development Bank of the Philippines (DBP) to put up a Good Manufacturing Practice (GMP)- certified facility.
SALES Talk
Targetted medicine has become a double-edged sword that could spell the beginning of the end of the so-called "blockbuster" drugs, the billion dollar sellers which the pharmaceutical industry has come to rely on drive up its profits ever upwards before the patents expire and the generics come into competition.
Thrift bankers assess impact of Basle 2 rules compliance
BAGUIO CITY—Differing views were aired here on the impact of the full observance of stricter banking regulations by the membership of the Chamber of Thrift Banks (CTB).
Vodafone sells Japan unit to Softbank for $ 11.9 B
TOKYO/LONDON, Mar. 18 (Reuters) — Vodafone Group has agreed to sell its stake in its struggling Japanese unit to Softbank Corp. for 6.8 billion pounds ($ 11.87 billion) in cash.
France’s L’Oreal to buy The Body Shop for $ 1.14 B
PARIS/LONDON, Mar.18 (Reuters) — L’Oreal is to buy The Body Shop in a 652-million-pound ($ 1.14 billion) deal that will unite the world’s top cosmetics group with the British ethically-sourced beauty product retailer.
Natural gas a sustainable fuel for the next 60 years
On a global sphere, natural gas is seen as a sustainable fuel to run power plants and other key industries for the next 60 years, a life span seen to last longer than oil but way shorter than that of coal, according to studies.
MWC weighs P1-B bank loan offers
Manila Water Co. (MWC) is looking at several offers from various banks for a P1-billion long-term peso-denominated loan to finance its expansion plans, a senior executive of the water supply and sewage service provider said.
Offshore buyers prefer Asian bonds
SINGAPORE, Mar. 18 (Reuters) — International funds are increasingly beating the path to local bond markets in Asia not only because of higher returns but also to meet the needs of domestic institutional investors, a fund manager said on Friday.
World growth to beat its forecast — IMF
BATA, Equatorial Guinea, Mar. 18 (Reuters) — World economic growth this year will beat the International Monetary Fund’s current forecast of 4.3 percent thanks to a recovery in Europe and Japan, the global lender’s managing director said.
Philrice eyeing to get ISO 9001 quality seal
The Philippine Rice Research Institute (PRRI) is working on a quality management system certification particularly the ISO 9001 along with a certification on occupational safety and health called OHSAS 18001.
NFA to bid 350,000 MT rice imports in April
The National Food Authority (NFA) may tender 350,000 metric tons (MT) of rice in April as rice imports allocated to the private sector through the Farmers as Importers Program (FIP) has hardly been availed of.
NEWS IN BRIEF
The peso rate closed at P51.04 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.066.
SAS promotes enterprise intelligence platform, asserts strong leader
Juan de la Cruz has been a loyal Globe Telecom prepaid cellfone card consumer for more than six years. He averages P1,200 a month.
PAL scales back expansion plans amid pilot exodus
MANILA (AFP) - An ambitious $ 1-billion six-year expansion plan by national flag carrier Philippine Airlines (PAL) could be cut back if the airline fails to halt an exodus of pilots seeking better pay elsewhere.
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