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Ford Phils. set to inaugurate P1.1-B Flex Fuel Engine Plant
The Ford Group Philippines is launching next week a P1.1-billion Flex Fuel Engine Plant in Sta. Rosa, Laguna as part of its effort to further strengthen its presence in the country and in the Asia Pacific region.
Indonesia assures no renegotiation of coal contracts with RP buyers
Even with some twists in coal pricing in the international market, the Indonesian government has assured that they will not push for any renegotiation of existing coal contracts with power companies in the Philippines.
SMART sets up telco training institute, TESDA offers scholarships
The texting capital of the world might soon become a premier training ground in the world of telecommunications.
RP obtains $ 8.6-M European grant for health program in 6 provinces
The Philippines has secured an .6-million grant from the European Commission (EC) to help the poor in six convergence provinces avail of affordable and good quality health services and provide overall support to the health sector reform agenda of the Department of Health (DoH).
Ausphil taps Macquarie Bank to raise US$ 180-million loan for road project
North Luzon East Expressways’ (NLEE) original private proponent Ausphil Tollways Corporation is tapping Macquarie Bank, Australia’s biggest investment bank, as lead arranger in Melbourne for its US$ 180-million debt syndication.
Oil firm buys Batangas lot for depot
Petroterminals Philippines Corporation, a wholly-owned unit of soon-to-be-public Phoenix Petroleum Philippines, Inc. (PPPI), has bought a vast property within the Batangas Union Industrial Park to serve as an additional depot and distribution terminal for its parent firm.
Atlas to meet nickel ore shipments to China
The Atlas Consolidated and Mining Development Corp. (ACMDC) is expecting to meet its target to ship one million metric tons (MT) of direct shipping nickel ore from Berong to China this year with 350,000 MT already exported as of May.
By ANA MARIE MACUJA
The level of consumer confidence in the Philippines has so far remained steady with lesser number of Filipinos worried over the country’s economy, a global survey conducted by The Nielsen Company showed.
SMC to get stockholders’ nod before venturing into mining
Food and beverage giant San Miguel Corporation will seek approval from its stockholders during their annual meeting on July 24, 2007, for authority to invest in mining as a line of business.
Cebu Pacific posts 89% growth in passenger traffic in one year
Cebu Pacific (CEB), the country’s low-fare leader and leading domestic airline, registered an 89 percent growth in passenger traffic over the past 12 months ending May 31, 2007.
PNOC-EC sees $ 500-M proceeds from stock sale
MANILA, June 7 (Reuters) — The Philippines’ state oil and gas explorer aims to raise around 0 million from selling a near 60 percent stake before the year-end to fund domestic and overseas exploration projects and pay down debt, its chief said.
Body recommends lifting of cement duty
Despite vehement opposition by the Cement Manufacturers Association of the Philippines (CeMAP), the Tariff Commission (TC) has decided to recommend for the lifting of the 3-5 percent tariffs on imported cement in an effort to temper the skyrocketing prices of local cement.
Insular Life’s fund delivers high returns
For two consecutive years, Insular Life’s variable unit- linked (VUL) product posted all time highs in the first quarter of the year for the three fund programs: Fixed Income Fund absolute return at 27.21 percent; Balanced Fund absolute return at 37.38 percent; Equity Fund absolute return at 57.20 percent.
Rusina pushes $ 600-M Zambales nickel mine project
A downstream Zambales nickel project is eyeing interest in a $ 600-million investment in nickel smelting and heap leach processing in an aim to add value to its direct shipping ore which it will begin sending to China in the third quarter.
WB nominee embarks on diplomatic offensive
ACCRA, Ghana (AP) — Robert Zoellick, the US choice to replace Paul Wolfowitz as head of the World Bank, met with African finance officials in Ghana at the start of a three-continent tour he said would help him understand the needs of poor countries.
China backs capitalism in Hong Kong
BEIJING, June 7 (AFP) — China will maintain the capitalist economic system in Hong Kong as it is vital to the former British colony’s continued success, a top Chinese leader said.
Toyota worldwide hybrid sales hit more than 1 million
TOKYO (AP) — Toyota said Thursday global sales of its hybrid vehicles have topped one million, a landmark for the Japanese automaker that leads the world in "green" cars.
Japan, Switzerland, US rated world’s most innovative countries
BEIJING (XFN-Asia) — Japan is the world’s most innovative nation, followed by Switzerland, the US and Sweden, according to a new study from the Economist Intelligence Unit (EIU).
P/$ rate closes at P46.01/$ 1
The peso exchange rate closed lower at P46.01 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P45.92 the previous day. The weighted average rate depreciated to P46.112 from P45.90. Total volume amounted to 8.55 million.
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