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Meralco to extend discounts on rates for schools, hospitals
Giant utility firm Manila Electric Company (Meralco) is offering package of discounts for electricity consumed by special customers, primarily schools and private hospitals.
Al-Yahya assumes as Petron President
Domestic oil industry giant Petron Corporation has named Kamal M. Al-Yahya as its new president starting this September, replacing Khalid D. AlFaddagh who served in the same capacity at the oil firm in the last three years.
Consumers’ outlook remains positive
Middle to low-income Filipino consumers expect to improve their economic conditions in the last quarter of the year, the Bangko Sentral ng Pilipinas (BSP) Consumer Expectations Survey said in a report.
Strong R does not mean strong economy
Quoting facts and figures on victims of a strong peso in the real economy, Philexport president Sergio Ortiz-Luis has criticized at official claims that a strong peso equals a strong economy, calling it a myth.
APEC business code prohibits bribery
SYDNEY, Sept. 7 (AFP) — A drive to eradicate bribery and corruption in business deals was launched in a wide-ranging code of conduct unveiled at an Asia Pacific meeting here Friday.
GIR hits record $ 30.3 B in first 8 months — BSP
The Bangko Sentral ng Pilipinas (BSP) reported dollar reserves of $ 30.324 billion as of end-August, exceeding the full-year target of $ 30 billion.
PNOC-EDC taps DBP as advisor on privatization
The Development Bank of the Philippines (DBP) has been engaged as lead financial advisor for the divestment of the 40 percent stake of mother unit Philippine National Oil Company (PNOC) on its geothermal subsidiary, the PNOC-Energy Development Corporation.
MARKET TRACK
Although we saw the index seesawed throughout the most part of the trading week brought about by United States’ (US) market’s volatility and Meralco’s sell-off, the local bourse closed in the black yesterday to 3,332.97. This was helped by Philex Mining Corporation and other mining stocks which trimmed losses in Philippine Long Distance Telephone Company (PLDT), that hit a two-month high last Thursday. Philex soared 12.73 percent to R6.20 yesterday based from previous day’s close. The mining company declared that its net income for the first half of the year more than doubled to R3.1 billion.
SEC okays bourse listing of eTelecare
Call center firm eTelecare Global Solutions, Inc. is all set to become a publicly-listed company following the approval of the Securities and Exchange Commission (SEC) of its registration statement.
Thailand offers lowest price to supply rice import
The government will likely buy the bulk of the 260,000 metric tons (MT) rice importation from Thailand and at a price at least 10 percent higher owing to tighter rice supply in the world market.
Export Action Line
Treatment using scents is more popularly referred to as aromatherapy. It simply means the use of essential oils to improve health and prevent illness. Nowadays, more and more people are convinced of the remarkable healing properties of essential oils. Also, more extensive researches are being conducted worldwide by the cosmetic, food, and flavoring industries. To check, among others, the toxicity and safety of essential oils.
Senior citizens support bill
Iloilo Rep. Fernejel Biron and the Manila Federation of Senior Citizens led by Chairman Tatay Val Concepcion and Vice Chairman Armando Mabahague said they have agreed to provide all-out support for House bill No. 1 on cheaper medicine.
P/$ rate closes at P46.53/$ 1
The peso exchange rate closed slightly higher at P46.53 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P46.57 the previous day. The weighted average rate appreciated to P46.526 from P46.686. Total volume amounted to $ 364.27 million.
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