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US Fed’s rate freeze gives BSP more monetary leeway
Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said yesterday the decision of the US Federal Reserve’s to maintain current rates will reduce pressure off the peso and narrowing of the interest rates differential.
Co named Ford Group Phils. Chairman
Ford Asia Pacific and Africa announced yesterday the promotion and appointment of Henry Co as Chairman of Ford Group Philippines.
Red tape cut in DTI frontline services
The Department of Trade and Industry is introducing new anti-red tape measures that would facilitate transactions of its frontline services of its bureaus and offices.
ERC to allow recovery of TransCo’s costs due to force majeure events
The Energy Regulatory Commission (ERC) indicated that it will allow National Transmission Corporation (TransCo) to recover costs incurred due to force majeure (FM) events, such as the unrelenting damage on its facilities during strike of calamities.
Foreign chambers push Pre-Need Code
BSP sees rising liquidity as no threat to fanning inflation
The Bangko Sentral ng Pilipinas said rising domestic liquidity is not a threat to inflation because after some review and assessment the economy can absorb all this excess liquidity.
Business Options
The usual December cold air has not yet come. But many Blessings that come usually in December have already been with us. The yearly Christmas bonuses to employees, especially Government employees who began enjoying these beginning the latter days of November, have been making their pocketbooks bulge. This is also evident from the crowded Malls, Supermarkets, Bars and Restaurants, movie houses, etc.
BIR, PSE ink accord to spare newly-listed firms from tax audit
The Bureau of Internal Revenue has signed a memorandum of agreement (MoA) with the Philippine Stock Exchange that will make newly-listed and qualified firms the last priority in the bureau’s audit and investigation program as an incentive for companies that go public.
WB reiterates support to RP program
The World Bank stands ready to support the Philippines in seizing global opportunities by sustaining progress in macroeconomic and fiscal reforms and improving economic governance where challenges still abound.
BIR collections hit P557.78 B in 11 months, top overall 2005 total
The Bureau of Internal Revenue (BIR) is set to establish an unsurpassed revenue collection level as it overtook its overall 2005 revenue collection record based on the initial results of its performance from January to end-November of the current year.
NFA’s rice importation for 2007 placed at 1.65 M tons
The National Food Authority (NFA) is expected to begin holding in January a bidding for rice importation for 2007 whose volume may remain more or less the same as the 1.65 million metric tons (MT) as this year’s import.
NHMFC announces 6-month loan payment freeze in Reming-hit areas
The National Home Mortgage Finance Corporation (NHMFC) has approved a six- month moratorium on the payment of amortizations by NHMFC housing beneficiaries affected by Typhoon "Reming."
WB: Global economy at turning point
WASHINGTON, Dec. 13 (Reuters) — Global economic growth has reached a turning point with a slowdown now clearly under way, led by the United States, the World Bank said on Wednesday.
Digitel earmarks $ 200M for 2007 expansion
MANILA (Dow Jones)--Digital Telecommunications Philippines Inc. (DGTL.PH), or Digitel, has earmarked $ 200 million to fund the expansion of its mobile phone operations next year, Digitel Vice Chairman James Go told reporters Thursday.
Petron imports gasoline after blending unit shutdown
MANILA (Reuters) - Philippine oil refiner Petron Corp. said on Thursday it was importing 100,000 barrels of gasoline to boost supply this month following the shutdown of a 16,000 barrel per day gasoline blending unit for repairs.
SM's Sy tops Forbes Asia's 40 richest Filipinos
MANILA (AP) -- Mall tycoon Henry Sy is one of three billionaires topping a list of the Philippines' 40 richest people who have combined net worth of $ 16 billion (euro12 billion), Forbes magazine reported in its latest Asian edition.
Toshiba gets out of music, sells stake to EMI
TOKYO (AFP) - Toshiba Corp. said Thursday that it will sell its entire stake in Japanese label Toshiba EMI Ltd. to Britain's EMI Group Plc, saying that music was no longer relevant for the electronics giant.
Venezuela’s Socialist Revolution
WHEN I wrote about Venezuela’s president Hugo Chavez losing his country’s chance at a seat on the United Nations Security Council (How Hugo Chavez lost the Latin American seat on the UN Security Council 11/6/06) due in part because of his virulent attack on US President Bush, I received a call from the Venezuelan Chargè d’Affairs who heads the embassy in Manila, Manuel Perez Iturbi, who acknowledged that "I had a right to my opinion" but who wanted to call on me and tell me about what was happening in Venezuela.
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