EMPLOYEES pass by an automated teller machine of the Bank of the Philippine Islands (BPI), its fire-engine-red gleam representing the “new look” of the bank. BPI marked its 157th anniversary at its Makati City head office on Friday. According to BPI president Aurelio Montinola III, the bank remains committed and prepared to manage its affairs in a prudent but forward-looking manner.  --NONIE REYES

Fund outflows trigger review

THERE is no stopping foreign fund managers from withdrawing more portfolio investments in the Philippines, reaching $6 billion on gross basis from January 1 up to July 18, data from the Bangko Sentral ng Pilipinas (BSP) show.

1 of 3 OFWs deep in debt before deployment

HONG KONG—The cost of working abroad is bleeding Filipino domestic helpers (FDHs) dry, as one in three of them incur debts even before starting their overseas job, according to a study by the Mission for Migrant Workers (MFMW) here.

Bread makers reel from costs

WHEN the prices of rice shot up, many augmented what little rice they had by eating bread. But then the prices of bread followed the rice prices to the sky. And now, the Filipino is between a rocky loaf and a hard sack of rice.

Senators push scrutiny of deal with MILF

SENATE President Manuel Villar indicated that the Senate will insist on reviewing the controversial draft peace agreement set to be forged by the Arroyo administration with the Moro Islamic Liberation Front (MILF).Related story on page 3.

UN: Doha collapse will hurt bid to attain MDGs

THE United Nations Conference on Trade and Development (Unctad) considered the collapse of the World Trade Organization (WTO) Doha round of talks in Geneva, Switzerland, a major setback in the achievement of the Millennium Development Goals (MDGs).

Bedans with best community project

THE 14-member San Beda team has been chosen to represent the Philippines in a world contest for the best community project after topping 18 local school team finalists with their project anchored on helping raise income of Bulacan residents through handicraft production from rice stalks.

Never fear English

THE Philippines is still the third-largest English-speaking country in the world. But more and more, we have to qualify this statement. Does it mean a deep knowledge of English, or functional English just enough to get by? And what does this statement mean—that there is only one kind of English in the world?

‘Top 2 refiners pumped out billions in profits’

UNITED Kingdom-based Shell Petroleum Co. Ltd. and Saudi Arabia-based Aramco Overseas Co. B.V. have siphoned off the US dollar equivalent of billions of pesos in profits they piled up from their oil refining and retail operations in the Philippines, former senator Ernesto Herrera, Trade Union Congress of the Philippines general secretary, bared on Sunday.

Peso falls on renewed risk aversion

THE peso on Friday fell over seven centavos to P44.22 per dollar after renewed risk aversion on credit concerns in the US gripped the market, an analyst and a dealer said.

Slow spending damps cement firm’s growth

ZURICH-BASED Holcim cement firm said the skyrocketing prices of food and energy have put a brake on government and private-sector spending on infrastructure, and said its single-digit sales growth of 3 percent to 5 percent is expected to last for the rest of the year.

Fertilizer cost to cut palay yield

BECAUSE of the increasing cost of fertilizers, a militant legislator fears the Department of Agriculture’s (DA) 1-million-metric-ton target for palay harvest this year would not be achieved.

A BAKERY store worker in Dapitan, Manila, puts out freshly baked pan de sal, the price of which might increase this week after local fl our millers announced hikes in the cost of the main ingredients for making bread. --NONIE REYES