MANILA BULLETIN:
- A total of P4.3-billion loan from the Land Bank of the Philippines (LBP) has been allocated to fund the 100,000-hectare Jatropha Curcas plantation in Quezon province for the massive production of biodiesel.
- Auction.ph, the foremost online shopping mall in the Philippines, is hosting another free online selling seminar on Wednesday, April 30 from 3-5 p.m. at 3201A East Tower, Philippine Stock Exchange Center, Exchange Road, Ortigas Center, Pasig City.
- ABS-CBN Bayan Foundation is reaching out and giving more opportunities for our countrymen to gain financial freedom, live decent lives and enjoy better education, health, and housing.
- Being in a country where rice is the staple and where news of a looming rice crisis has become a national concern, a Filipino rice brand promises to offer not only quality grains but also the benefits of naturally-cultivated hybrid rice.
- The economic well-being of a nation is determined by its people and the role of education is unquestionably paramount.
- The Real Bank announces the fifth year and nationwide scope of its saving and thriftiness advocacy; comprehensive school program tri-partnership with the Department of Education and Mary Lindbert International.
- Senator Edgardo Angara has thrown his support to the decision of the Palace to abandon, temporarily, its fiscal consolidation program because of emerging market developments making it hard for the government to put back on the black the national coffers.
- House of Investments, a holding company controlled by the family of Alfonso T. Yuchengco, recorded a 54 percent jump in consolidated net income to P571 million in 2007 from the previous years P371 million.
- Philippine software companies are looking at Japans fast-growing information technology (IT) services industry as a strategic market for IT outsourcing despite an expected slowdown in the US economy.
- Many countries in the Asia-Pacific region may not meet all of the Millennium Development Goals (MDGs) due to gaps in several key areas according to a joint report by the United Nations and the Asian Development Bank (ADB).
- The government is creating a Philippine Dryland Research Institute (PDRI) to draw on untapped potential from the countrys three-million hectare drylands dominated by a poverty-stricken population.
- The Bangko Sentral ng Pilipinas (BSP) said the banking systems total resources went up year-on-year by 5.5 percent to P5.13 trillion as of end-2007.
- The Securities and Exchange Commission (SEC) has given publicly-listed Basic Energy Corporation the green light to sell some 537.5 million secondary shares.
MANILA TIMES:
The banking industry sustained its profitability last year despite contractions in trading gains and trust department income, the Bangko Sentral ng Pilipinas (BSP) said in its Philippine Financial System report.
- The banking industry sustained its profitability last year despite contractions in trading gains and trust department income, the Bangko Sentral ng Pilipinas (BSP) said in its Philippine Financial System report.
- Net income of banks grew 9.5 percent to P62.9 billion last year from P57.4 billion in 2006, the report noted . This was supported by a double-digit expansion in interest income and fee-based services.
- Philip Morris Philippines Manufacturing Inc., (PMPMI) plans to increase its capital expenditures for machinery and equipment in the country in the next three years.
- In a bid to bring down the soaring price of animal feeds, the Board of Investments has granted the Philippine Fuhua Sterling Agricultural Technology Development tax incentives and other perks for its venture into producing hybrid corn for animal consumption.
- State-owned Philippine National Oil Company-Exploration Corp.s (PNOC-EC) profits last year plunged by a third year on year because of a decrease in its share of earnings from the Malampaya gas field and an increase in petroleum exploration expenses.
- After incurring net losses in the previous two years, Benguet Corp. recovered and was in the black in 2007 due to foreign exchange gains and increased revenues generated by the sale of offspecs chromite sands to China.
- The consortium led by Aboitiz Power Corp. that won the state-auction for the Ambuklao-Binga hydro electric plants has scheduled a lengthy rehabilitation program for the facilities in a bid to improve its capacity.
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