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Sony targets 40% sales rise for car stereo, audio products
Sony Philippines is aiming a 40 percent revenue growth in its car stereos and audio products for 2006 following the opening of its two stores dubbed as Xplod centers at Banawe in Quezon City.
SMC willing to relinquish control
San Miguel Corporation’s negotiations with The Coca-Cola Company for the renewal of their licensing contract now includes the Philippine giant ceding majority control of Coca-Cola Bottlers Philippines Inc. to the Atlanta firm.
Exports register 17.3% growth in May
The country’s exports sustained double-digit expansion whenposted a 17.3 percent growth in May compared to the same period last year.
PLDT pays $ 135.3 M to buy SPI Tech
Philippine Long Distance Telephone Company (PLDT) subsidiary, ePLDT, Inc. yesterday paid US5.34 million cash for SPI Technologies Inc., one of the largest Business Process Outsourcing (BPO) firms in the world.
Abenson sees LCD TV sales gaining
Abenson, the country’s biggest multi-brand home appliance store, expects sales of LCD (liquid crystal display) television to dominate the big screen television market in three years as their costs decrease.
NEWS IN BRIEF
The peso rate closed lower at P52.25 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.12 the previous day. The weighted average rate depreciated to P52.20 from P52.135. Total volume amounted to 8.9 million.
SBMA approves 12 more new projects worth $ 7.5 M in June
The Subic Bay Metropolitan Authority (SBMA) Board of Directors has endorsed the operation of 12 more new projects amounting to $ 7.5 million in June alone.
Combined investments approved by BoI, PEZA decline 20% in 1st half
Trade and Industry Secretary Peter B. Favila reported that combined investments approved by the Board of Investments (BoI) and the Philippine Export Zone Authority (PEZA) in the first half this year dropped by 20 percent to only P100.25 billion as against P125.7 billion in the same period last year.
Buñag cites private sector support in its revenue generation program
Bureau of Internal Revenue (BIR) Commissioner Jose Mario Buñag said the strong support of the private sector, particularly the large corporate taxpayers sector, "is a major factor in the continuing improvement in the revenue generation effort of the agency".
BSP supports PSE’s SBL scheme, set to issue complementary circular
The Bangko Sentral ng Pilipinas will issue a "complementary" circular on the securities, borrowing and lending rule recently issued by security regulators.
Agency of the Year Awards set
The Association of Accredited Advertising Agencies (4As) announces the holding of the Agency of the Year Awards on September 6, 2006 to honor the best performing advertising agencies in the country.
LMG turns to bio-leaching to fight pollution
With the depleting supply of economic sulfur, LMG Chemicals Corp. eyes the manufacturing of a bacteria that will extract minerals in a manner that is more environment-friendly, helps slow global warming, and even raises metal recovery while cutting costs.
Bottomline
The League of Corporate Foundations (LCF) held its annual Corporate Social Responsibility (CSR) conference last week. This year’s conference theme was "Taking CSR to Heart," and a good many business executives seem to have done just that. They accounted for the bulk of over 1,350 delegates that attended conference sessions. Over 3,000 other individuals visited a concurrent exhibition. In all, almost 4,400 delegates and visitors attended the conference and exhibit.
Li sells 23% stake in PCCW to financier Leung for US$ 1.2 B
HONG KONG (AP) — Richard Li, of Hong Kong’s most prominent business family, is selling a 23 percent stake in PCCW Ltd. to a local investor, ending his failed attempt to transform the fixed-line phone company into a regional Internet powerhouse.
IMF pushes emergency liquidity cushion
SINGAPORE, July 11 (AFP) — The International Monetary Fund (IMF) is proposing an emergency liquidity cushion to help Asian and other emerging economies deal with any financial crises.
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