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Sunset over
the surf. A
young boy carries his surfboard as he walks over rocks
after his surfing practice at the San Juan surfing resort
in La Union, a new mecca for summer and surf lovers.
--MAURICIO VICTA |
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Rice
too costly for private biz |
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RICE traders
are not keen on importing the staple even at zero tariff due
to the steep cost of the commodity in the world market.
Herculano
Joji Co, chairman of the Philippine Confederation of Grains
Association (Philcongrains), said that despite encouragement
by the government to make importation attractive to the
private sector, traders are not interested because the
commodity has become more expensive in recent months. |
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Rice
futures rise anew; RP opens auction |
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RICE futures
in Chicago soared for a fourth day to a record as
Turkey
and the Philippines tendered to buy the grain amid dwindling
global supplies. Wheat, corn and soybeans also gained.
Rice
futures doubled in the past year after countries including
Vietnam, China, Egypt and India curbed exports to meet
domestic demand. The Philippines plans to buy 500,000 metric
tons both today and on May 5. |
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Oil
climbs to record in NY on supplies decline |
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CRUDE oil
and gasoline rose to records after the Energy Department
reported unexpected declines in US crude inventories and
refinery operating rates.
Oil climbed
to $115.21 a barrel in
New York,
the highest since futures began trading in 1983. Oil
supplies dropped 2.36 million barrels to 313.7 million in
the week ended April 11, the department said Wednesday.
Gasoline stocks fell for a fifth week and refineries
operated at their lowest rate since October 2005. |
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Firms gripe over lack of good hands amid rising joblessness |
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REPORTS say
unemployment has increased, but the top 5,000 corporations
are complaining they cannot get decent help, as may be
gleaned from the latest survey by the Department of Labor
and Employment.
This is
because the reports of unemployment are not detailed or
explained—many are not qualified, many do not match the
skills needed, many could not communicate well, etc. |
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BSP:
Tweaking rates not always best tool |
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EASING
interest rates may not be the best way to counter
significant increases in fuel and commodity prices, such as
the cost of rice, but monetary policy may have to change if
there are symptoms that these are already causing
second-round effects.
Bangko
Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said
Thursday the most significant risk to the country’s
inflation, which rose to a sizzling 6.3 percent in March
from last year’s average of 2.8 percent, still comes from
oil and commodity prices. |
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Naia
hurdles Icao examination |
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THE Ninoy
Aquino International Airport (Naia) has passed the security
examination of the International Civil Aviation Organization
(Icao), placing the Naia on a par with world-class airports
around the world.
The Icao
officials were “impressed with the consistent high-standard
screening procedures of persons and luggage at various
screening points,” according to Manila International Airport
Authority (Miaa) general manager Alfonso Cusi. |
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CBRE:
No property slump in RP; opportunity aplenty |
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THE
financial crisis in the United States has a bright spot for
the Philippines. “We do see problems regarding job cuts in
the
United States.
On one hand, this will be a positive factor for the
Philippines in terms of higher demand for business-process
outsourcing [BPO] and the service sector.”
This is the
opinion of property management consultant CB Richard Ellis
Philippines chairman Rick Santos, as expressed in his media
presentation in Makati on Thursday. |
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MORE STORIES ... |
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Pause,
A trader at the
Philippine Stock Exchange in Makati City takes a break
Thursday as Philippine stocks sustained their rise on Wall
Street’s gain. The news in the rice market, though, is
pretty bad. --NONIE
REYES |
