| |
|
|
 |
 |
|
Oil price scales new record above $ 105 in London trade
LONDON, Mar. 6 (AFP) — Oil prices surged past 105 dollars for the first time on Thursday as traders reacted to a surprisingly sharp fall in US crude reserves and the plunging US dollar, analysts said.
ADB tells RP to stifle corruption
The Philippines has fallen behind its neighbors in economic development and must raise revenues, stifle corruption, improve infrastructure and create jobs to fuel growth and reduce poverty, the Asian Development Bank said yesterday.
HSBC plans to expand RP operations
Hong Kong and Shanghai Banking Corp. Ltd. will expand its operations in the Philippines this year despite the prevailing political uncertainty in the country, HSBC Asia Pacific Chief Executive Alexander Flockhart said yesterday.
TransCo’s power delivery up 7.6% in 2007
The National Transmission Corporation (TransCo) delivered a total of 110,234.3 MegaWatt months of power to the country’s major electricity grids in 2007, a 7.6 percent increase over the 102,454.1 MW-months registered in the previous year.
Europe eyed as venue for BPO outfits
With the weakening of the US dollar, Europe is rapidly emerging as a better venue for business process outsourcing (BPO) for Philippine BPO outfits.
SEC okays FPHC issue of preferred shares
The Securities and Exchange Commission (SEC) yesterday gave power and infrastructure conglomerate First Philippine Holdings Corporation (FPHC) the green light to issue up to 50 million cumulative, non-voting, non-participating, non-convertible peso denominated Series B perpetual preferred shares.
KEPCO may buy into buyer of Masinloc
Independent power producer Korea Electric Power Company (KEPCO) is exploring options to buy into the 25-30 percent equity sell-down being planned by US firm AES Corporation, the buyer of the 600-megawatt Masinloc coal-fired power facility in Zambales.
Investors oppose planned closure of Baguio’s airport
Baguio investors have opposed the planned closure of the city’s airport in Loakan stressing it is crucial to maintain the only fastest access to this mountain resort and ensure its viability as an investment site.
3 foreign firms told to offer bids for Ambuklao-Binga expansion
SINGAPORE — SN Aboitiz Power Inc. (SNAP) has sent tender notice to three foreign firms for the electromechanical specifications of the planned capacity expansion of the Ambuklao-Binga hydro plants which the group won in last year’s bidding.
Sardine-maker sets P500-M expansion
Filipino-owned Universal Canning Inc., maker of Family’s sardines, is investing P500 million this year for the acquisition of other sardine brands and upgrading of existing and establishment of new facilities to support an aggressive market diversification here and abroad.
TRO against Didipio mining delays project
A temporary restraining order (TRO) issued by a Nueva Vizcaya court against the Didipio copper-gold project is delaying one of government’s 23 priority mining projects that is now also incurring $ 1.3 million in operational losses.
P/$ rate closes at P40.56/$ 1
The peso exchange rate closed higher at P40.56 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P40.76 the previous day. The weighted average rate appreciated to P40.634 from P40.696. Total volume amounted to $ 500.45 million.
|
|
|
 |
|
