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STARTING
Monday, unless the Palace orders the extension of an order
reducing wharfage to help exporters cope with the impact
of a strong peso and high shipping costs, businesses will
be forced to shell out the old rates of P259.70 and
P391.05 on 20-foot and 40-foot metal containers,
respectively. While it lasted, the order gave them relief
in terms of having to pay only P20 and P40.
--NONIE REYES |
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Fitch sees P63-B deficit doubling |
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NORMALLY
liberal in its comments on the country’s economic
performance, the UK-based Fitch Ratings has strong doubts on
the government’s ability to limit the budget deficit within
P63 billion this year, saying its near doubling to more or
less P125 billion was more likely. |
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Exporters must pay old, higher port fees starting Monday |
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THE
Philippine government has levied higher fees for using
wharfs and docks starting Monday after an order mandating
lower rates—intended to help exporters cope with a strong
peso and costly shipping costs—expired last week. |
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SMC
to spend $750M for power investments |
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SOUTHEAST
Asia’s largest food and beverage company, San Miguel Corp.
(SMC), is considering going off track of its main business
lines to spend at least $750 million (roughly P35 billion)
to venture into the power-generation sector. |
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Gloom at DOE as execs exit |
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A CLOUD of
skepticism covers the local energy sector with a number of
key officials at the Department of Energy (DOE) expressing
their intent to also leave government service. |
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Ledac to meet to hammer out pet bills |
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PRESIDENT
Arroyo will “soon” convene the Legislative-Executive
Development Advisory Council (Ledac) to hammer out a common
legislative agenda with Congress leaders and push for the
speedy ratification of the Japan-Philippines Economic
Partnership Agreement (Jpepa), Malacañang said on Tuesday. |
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New
bidding round opens for Transco |
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ANOTHER
bidding opened for the facilities and assets of the National
Transmission Corp. (Transco). At least three biddings have
failed. |
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Sangley or Subic for Cosco? |
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EXECUTIVES
of
China’s
shipping giant China Ocean Shipping Group Co. (Cosco) are in
Manila to look into the possibility of making the area
between
Subic and
Clark an alternative location for its multibillion-dollar
logistics hub project if its original choice, Sangley Point
in
Cavite, proves to be unsuitable. |
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Produce Jonas, SC tells military |
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THE Supreme
Court on Tuesday issued a writ of habeas corpus ordering the
officials of the Armed Forces and the National Police (PNP)
to produce political activist Jonas Joseph Burgos before the
Court of Appeals on Friday. |
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More
PIPC scam victims flock to NBI |
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MORE victims
of a new multimillion-dollar financial scam are now
surfacing before the National Bureau of Investigation (NBI)
in a bid to file a class suit against the incorporators of
Performance Investments Products Corp. (PIPC), accused of
foisting an investment scam. |
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CitisecOnline bullish on economy |
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LEADING
online stock brokerage firm CitisecOnline (COL) remains
confident about the outlook of the Philippine economy for
the next 12 months as it continues to reap the benefits of
government reforms. |
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MORE STORIES ... |
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Mirroring the
media. T. Antonio
C. Cabangon, publisher of BUSINESSMIRROR, was Tuesday’s
guest speaker at the Rotary Club of Makati general
membership meeting at the Manila Peninsula Hotel. He
discussed the challenges faced by the global newspaper
industry and how the industry is evolving to cope with
changing needs. He cited the spectacular growth of
newspapers in the Asia pacifi c, notably China and India,
bucking the trend in the West.
--RHOY COBILLA |
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