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Coyiuto tops election for PSE’s Board of Directors
Former Philippine Stock Exchange chairman Robert Coyiuto Jr. topped Saturday’s election for 15 directors of the PSE in what is perceived to be its most peaceful board elections since the merger of the Manila and Makati stock exchanges.
Economists asked to help exporters
Exporters have sought the help of the nation’s top economists to find the levers that can be pulled to stabilize the peso-dollar rate at a level that does not push exporters down the ravine.
5-year program for 8 car models
While most local car companies gradually abandoned completely knocked down assembly operations by importing completely built-up vehicles from Thailand, the Nissan Motor Group in the Philippines has launched a five-year program that calls for the CKD assembly of eight car models in the country.
P49.6-B ‘allocable budget’ set in 2007
The government has set aside P49.6 billion of "allocable budget" next year, and about 76 percent or P28.1 billion will be infrastructure development spending while a small amount of P1.4 billion is for health projects.
Mining Act review urged on IRR only
Businessmen are proposing that proposed changes in the Mining Act be done through its Implementing Rules and Regulations (IRR) as the review focuses on the enhancement of environmental protection and safety measures.
BSP okays Brady bond
The seven-man Monetary Board, Bangko Sentral ng Pilipinas’ policymaking arm, has approved the buyback of the outstanding $ 774- million Brady bonds but in tranches.
NEWS IN BRIEF
The peso rate closed at P51.120 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.101.
Globe Telecom to list 4,083 shares tomorrow
Ayala Land price target raised to P15 -- Macquarie
MANILA (XFN-ASIA) - Macquarie Research Equities has raised its 12-month price target for Ayala Land Inc to P15 from P12.50, saying the property developer is ''best positioned'' to benefit from the Philippines' growing economy.
Exportbank sells P10.1-B idle assets to German bank unit
MANILA (XFN-ASIA) - Export and Industry Bank (Exportbank) said it will sell its remaining non-performing assets worth P10.1 billion to a subsidiary of German-bank Bayerische Hypo-und Vereinsbank AG.
Stock trading seen to slacken during the Lenten holiday break
Trading is expected to continue to weaken over the next few trading days, given the shorter trading week due to the extended holiday break.
Dollar rallies on strong US jobs data
NEW YORK, Apr. 7 (AFP) — The dollar staged a strong rally Friday after a solid US employment report prompted the market to raise its expectations for Federal Reserve interest rate hikes.
RP to tap huge China auto parts market
The Philippines is eyeing of tapping the huge China market for its exports of automotive parts and components following strong indication by at least five Chinese car manufacturers and other car firms based there to source its supplies from Manila.
Ford Phils. pioneers flexible fuel cars here
Ford Philippines is seen pioneering the wider use of bio-ethanol fuel in the country with the introduction of its flexi-fuel vehicle or FFV.
BUSINESS and SOCIETY
Tourism is living up to its name as a sunrise industry. It was among the few sectors that enjoyed double-digit growth rates last year, together with business process outsourcing and manpower exports.
Ayala Int’l eyes new Asia property projects
Ayala International Pte Ltd. (AIPL), the Singapore–based property unit of Ayala Corporation, is investing $ 30 million to $ 40 million for projects in the Asian region in the next three years, particularly in China, India, and Thailand, after successfully breaking into the United States and Singapore markets.
Firm offers immigrants to Canada assistance
Moving to a new country like Canada poses a lot of challenges, especially for those who have no family or friends to assist them during this transition. The uncertainty of a new life and the unfamiliarity of a new place can be a source of stress and emotional upheaval.
2006 IPP approved, includes cement perks
The Cabinet has approved the 2006 Investments Priorities Plan (IPP) incorporating the controversial new cement projects as among the list of preferred areas of activities that are granted with juicy incentive packages.
Singapore top place for expatriates
SINGAPORE, Apr. 9 (Reuters) — Asian expatriates ranked Singapore the best place to live out of 257 locations worldwide because of its clean air, infrastructure and low crime rate, a survey showed.
Copper rally continues; gold, silver also hot
LONDON, Apr. 9 (Reuters) — Copper hit a new record peak early on Friday, moving ever closer to $ 6,000 a ton as funds, encouraged by strong fundamentals and dwindling stocks, continued to plough money into the red-hot commodities sector.
China boom could prove double-edged sword for HK
HONG KONG, Apr. 9 (Reuters) — China’s economic boom is taking Hong Kong’s economy along with it for now, but the rapid development of infrastructure and services on the mainland could undercut the city’s longer-term competitiveness.
Coca-Cola Co. moves to all-or-nothing director pay
ATLANTA, Apr. 9 (Reuters) — Coca-Cola Co. said it would pay its directors only if earnings growth goals are met, leaving board members at the world’s largest soft drink maker with no compensation if targets are missed.
RP sets auction of 600-MW coal-fired power plant this month
MANILA (XFN-ASIA) - The state's Power Sector and Liabilities Management Corp (PSALM) said interested investors have until April 27 to submit their bids for a 600-megawatt coal-fired power plant in Batangas province, just south of Manila.
Starbucks may top McDonald's as No. 1 food chain
LOS ANGELES (Reuters) - Think there's already a Starbucks on every corner? Just wait. The fast-growing chain plans to nearly triple in size and some see it growing even bigger, one day topping hamburger giant McDonald's Corp. as the largest fast-food brand in the world.
Sharp rise in outsourcing seen at 42% this year
MANILA (AFP) - Outsourcing is the way forward for the Philippines, with employment, revenues and investments from the sector expected to rise by at least 42 percent this year, Economic Planning Secretary Romulo Neri said Monday.
Asian dollar debt spreads steady to weaker
HONG KONG (Reuters) - Asian dollar debt were steady to slightly weaker in thin trade on Monday, after long-term US Treasury yields had jumped on Friday when solid job growth for March reaffirmed expectations of more US interest rates rises.
Jollibee declares cash dividend
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