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FDI inflows hit $ 500 M in April
The country’s foreign direct investments as of April totalled $ 500 million, 2.7 percent higher compared to $ 487 million the same period last year, the Bangko Sentral ng Pilipinas said.
Gov’t debt totals P3.996 T as of April
The National Government’s outstanding debt as of April was up 3.3 percent or P128.9 billion more at P3.996 trillion from P3.867 trillion recorded the same period last year.
Mining seen to bolster economy
The revitalized mining industry is seen as the best and a rare opportunity to jumpstart the economy of Mindanao, Paul G. Dominguez, president and chief executive officer of Sagittarius Mines, Inc. said.
Zamboanga area tops growth rate
Zamboanga Peninsula posted the highest growth among the 17 regions with a 7.2 percent jump in its gross regional domestic product (GRDP) in 2005 from its 4.1 percent growth in 2004.
Test runs start at Rapu Rapu mine
Environment and Natural Resources Secretary Angelo Reyes yesterday ordered the start of test run operations in Rapu Rapu, Albay for the Australian mining firm Lafayette Philippines Inc. (LPI), a month after the Department of Environment and Natural Resources (DENR) issued a temporary lifting order (TLO) to allow the resumption of LPI’s mining operations for the conduct of test run.
Business Options
Due to several factors like small margins, high operating expenses, loss of market share and other issues that often lead to decrease in shareholders value, many companies, local and foreign have started to go into downsizing. In layman’s understanding – retrenchment.
Prices of construction materials inch up in May
Prices of construction materials have inched up as the materials wholesale price index in the National Capital Region (NCR) recorded an increment of 0.6 percent in May from 0.4 percent in April.
TransCo logs P6.4-billion receivables from Meralco
Receivables of P6.373 billion from giant utility firm Manila Electric Company (Meralco) was logged by National Transmission Corporation, with bulk of the amount accounting for the overdue ancillary services linked with the distribution firm’s pending settlement deal with National Power Corporation.
US expert urges government regulation of franchising
The growing domestic franchising industry needs to be regulated by the government to protect the integrity of franchises and rid the industry of unethical practices, said an American franchise expert.
DoE addresses Luzon grid power reserve needs
The Department of Energy (DoE) bared that it is now revisiting the country’s power development blueprint as it is coming to terms that it needs to start addressing reserve requirement even for the Luzon grid, which is widely-believed to be on a surplus mode.
Won leads rally on soft US jobs data
SINGAPORE, July 10 (Reuters) — Asian currencies extended gains on Monday, tracking a rally in the yen which rose to a one-month high, after weak US jobs data triggered expectations the Federal Reserve may go slow in tightening monetary policy.
PLDT unit buys SPi Technologies
MANILA (XFN-ASIA) - Philippine Long Distance Telephone Co said its information and communication technology unit, ePLDT Inc, has purchased SPi Technologies Inc, a business process outsourcing (BPO) company for $ 135.34 million in cash.
Manila Water to bid for Maynilad Water
MANILA (XFN-ASIA) - Manila Water Co Inc said it has been authorized by its board to bid for the government's majority stake in Maynilad Water Services Inc, a debt-laden water concessionaire that services half of metropolitan Manila.
SMC says Coca-Cola group may take majority stake in CCBPI
MANILA (XFN-ASIA) - San Miguel Corp said it is holding ongoing negotiations with The Coca-Cola Company that include the possibility of the Atlanta-based soft drinks firm taking back a majority stake in Coca-Cola Bottlers Philippines Inc (CCBPI).
P/$ rate closes at P52.12 to $ 1
The peso rate closed higher at P52.12 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.35 last Friday. The weighted average rate appreciated to P52.135 from P52.507. Total volume amounted to $ 455 million.
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