PHILIPPINE Stock Exchange president Francis Lim presents the options for corporate executives considering equity funding in a forum billed “On the Road to Going Public” in a Makati City hotel. The local market continued to take a beating for the third day, as confidence declined in reaction to global financial blows. --NONNIE REYES

BSP sees trade gap widening

THE Bangko Sentral ng Pilipinas (BSP) expects the trade deficit this year to widen further to $13.2 billion from last year’s figure of only $5.047 billion.

The anticipated trade in goods deficit was based on projections that exports would reach only $51.3 billion this year versus imports totaling $64.5 billion, deputy BSP Governor Diwa Guinigundo said on Thursday.

BDO stocks recover, is Thursday’s survivor

BANCO de Oro Unibank rose 9.52 percent on Thursday to close trading at P34.50, ending a three-day losing streak. It opened the session at P32 and peaked at P35 on value turnover of P509.482 million.

No repeat of Asian crisis: policymakers

ASIAN policymakers see little risk their countries will be hit by a crisis similar to the economic meltdown of 1997, downplaying concern the US turmoil will infect the region’s financial system.

Salceda pitches deficit spending to spur growth

LEGAZPI CITY—Albay Gov. Joey Salceda, one of President Arroyo’s top economic advisers, said on Thursday the government should put up a P120-billion deficit spending package to counter the impact of the US financial crisis that is seen to slow down investments and growth.

PhilAmlife stakeholders told: We’re stable

WITH the current financial issues in the US affecting its parent company, American International Group Inc. (AIG), the Philippine American Life and General Insurance Co. (PhilAmlife) assures its customers and policyowners that their interests are protected with the company’s financial strength.

IMF: Reforms cushion impact on RP

THE Philippines has started benefiting from the reforms it adopted in its fiscal and monetary sectors, and these should now help it weather the turmoil ensuing from the debacles of Lehman Brothers, Merrill Lynch and American International Group (AIG), the International Monetary Fund (IMF)  said on Thursday.

Bread-price hike issue still hangs

LOCAL flour millers and bakers failed to reach a concrete agreement during their meeting with the Department of Trade and Industry (DTI) on Thursday, leaving hanging the question of whether there will be a new round of increases in bread prices.

RP to borrow P1.65B to replace light bulbs

THE National Economic and Development Authority (Neda) endorsed to economic policymakers six projects worth P17.4 billion, including one to replace light bulbs across the country.

‘Hotels, hospitals still hot investments’

DESPITE the present gloom in economics worldwide, investors are going ahead with their plans to increase hotel and hospital rooms, a decision the government said shows continuing investor confidence in the country.

11 BIR officials sanctioned

OMBUDSMAN Merceditas Gutierrez has sanctioned 11 officials of the Bureau of Internal Revenue for various offenses.

The officials were identified as Beltran Dy, Revenue District Officer, Bureau of Internal Revenue (BIR) Balanga City; Andres Gabagat Jr., Revenue Examiner I, BIR-Quezon City; Ma. Antonietta Tabobo and Heddan Baltazar, both Revenue Collection Officers, BIR-Iloilo City; Rosalinda Francia, former Revenue Collection Agent, BIR-Aurora; Sari Umadhay, Revenue Officer, BIR-Iloilo City; and Leonila Janiola, employee, BIR-Cebu City.

Immigration officer tagged in trafficking

THE interception on Wednesday of 17 undocumented workers, mostly minors, bound for Jordan and Syria exposed a possible colluder in the egregious practice of human trafficking—she is an Immigration bureau officer.

Rising number of RP hostages alarms DFA

ALARMED Foreign Affairs department officials are urgently asking the Labor department to approve its proposal to require international shipping industries and employment agencies to formally agree they will not require their Filipino crews to be on ships that pass the pirate-infested waters of Somalia and Nigeria.

Sudoku at SM. The SM Group and Home Radio, sister organization of the BUSINESSMIRROR, have joined the paper and the Mathematics Trainers Guild Philippines (MTG-Phil), officially accredited by the World Puzzle Federation, in holding the national eliminations to pick the Philippines’ participants in the world sudoku championship. In a memorandum of agreement signed among their officers, SM malls will be the venues for the sudoku contests. Signing the accord are (seated, from left): BM’s president Benjie Ramos; Millie Dizon, vice president for marketing and communications, SM Malls; BM publisher T. Anthony C. Cabangon; Dr. Simon L. Chua, MTG-Phil president; and BM editor in chief Lourdes M. Fernandez. Witnesses are (standing, from left): BM officers Ronald Callao, Loida Virtudazo and Antonette Reyes; MTG’s Dr. Ed dela Cruz; Home Radio’s VP-marketing Jude Garcia; and BM’s Joyette Perez and Ricky Alegre. --ROY DOMINGO