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Breaking News
Oil prices slip as storm set to spare Gulf platforms
Thu, 07/01/2010 - 09:12NEW YORK—Oil prices fell on Monday as tropical storm Alex appeared on course to spare energy platforms in the Gulf of Mexico, easing supply concerns that have underpinned prices.
Categories: Philippine News
US stocks dip after consumer spending, income data
Thu, 07/01/2010 - 01:33NEW YORK—US stocks closed slightly lower on Monday in listless trade after consumer spending and income data was mostly in line with expectations and investors awaited a key jobs report.
Categories: Philippine News
Power supply in Metro, Luzon remains critical—National Grid
Mon, 06/28/2010 - 21:42The power situation in Metro Manila and provinces in Luzon remained critical due to a power supply deficit that reached 125 megawatts (MW) as of Monday afternoon, according to the National Grid Corporation of the Philippines (NGCP).
Categories: Philippine News
Meralco elects Recto, Panlilio to board seats
Mon, 06/28/2010 - 21:42Manila Electric Co. (Meralco), the country's biggest power distributor, reported on Monday a minor revamp in the composition of its board of directors, following the resignation of two officers.
Categories: Philippine News
Small oil players oppose SLEx toll hike
Mon, 06/28/2010 - 21:42Small oil players have joined militant groups and other sectors in opposing the 250-percent hike in toll fees at the South Luzon Expressway (SLEx), stressing that such a move will only result in higher fuel prices.
Categories: Philippine News
Aboitiz, partners to put up 150-MW coal unit for Mindanao
Mon, 06/28/2010 - 21:42Publicly listed Aboitiz Power Corp. and its partners at Steag State Power, Inc. have inked an agreement to put up a 150-megawatt unit for their coal-fired power plant in Misamis Oriental—a move seen to help ease power supply in the island within two years' time.
Categories: Philippine News
Asian markets unmoved by G20 promise
Mon, 06/28/2010 - 21:42HONG KONG - A G20 statement at the weekend promising to cut deficits, boost growth and stabilize the markets had little effect on Asian stocks Monday, while China set the yuan at its strongest level in years.
Categories: Philippine News
Oil rises as storm threatens US Gulf coast
Mon, 06/28/2010 - 21:42SINGAPORE - Oil prices rose in Asian trade Monday as a major tropical storm churned towards the oil-producing Gulf of Mexico region, analysts said.
Categories: Philippine News
China sets strongest yuan rate in years after G20 pressure
Mon, 06/28/2010 - 21:42China set the strongest yuan exchange rate in years on Monday after Beijing came under renewed pressure at the weekend's Group of 20 summit to let the currency appreciate.
Categories: Philippine News
World leaders agree to cut deficits by 2013
Mon, 06/28/2010 - 21:42The leaders of the world's most powerful economies pledged to slash back spiraling debts on Sunday as they sought to rebalance a global economy knocked off its axis by a financial crisis.
Categories: Philippine News
ExxonMobil drills third oil well in South Sulu sea
Mon, 06/28/2010 - 21:42Exxonmobil Exploration and Production Philippines B.V. has started drilling its third exploration well in the South Sulu Sea early this month, in view of encouraging indications from the first two wells it earlier drilled.
Categories: Philippine News
RP economy strong enough to avoid boom-bust cycle – BSP
Mon, 06/28/2010 - 21:42The Bangko Sentral ng Pilipinas believes that the economy has what it takes to avoid a so-called “boom-and-bust cycle,” shrugging off speculations that the rare and robust growth in the first quarter may not be sustained due to financial risks abroad.
Categories: Philippine News
EDC finishes paying for 22-B yen loan
Mon, 06/28/2010 - 21:42The Lopez-led Energy Development Corp. has fully settled its 22-billion yen loan (roughly P12 billion), allowing the company to move closer to its goal of overhauling the currency mix of its loan portfolio.
Categories: Philippine News
More contracts to explore for oil, gas set
Mon, 06/28/2010 - 21:42Contracts for the exploration and development of up 10 prospective oil and gas areas in the country are expected to be auctioned off once the Department of Energy (DOE) gets a new man at the helm.
Categories: Philippine News
T-bills rates up 3.92%
Mon, 06/28/2010 - 12:13The yield on the benchmark three-month Treasury bills rose by 0.8 basis point to 3.927 percent on Monday in the last auction under the administration of President Gloria Macapagal Arroyo, who steps down from office on Wednesday.
Categories: Philippine News
P15B is price tag for rice self-sufficiency – DA
Mon, 06/28/2010 - 12:13The Philippines, the world’s largest rice importer, needs to invest more than P12 billion in 2011 to boost paddy yield and minimize dependence on already-tight global supplies.
Categories: Philippine News
G8 drops deadline to complete WTO talks
Mon, 06/28/2010 - 12:13TORONTO, Canada—Leaders from the world's eight foremost industrialized countries on Saturday abandoned a pledge to finish long-running trade negotiations by the end of the year.
Categories: Philippine News
Europe, Japan not doing enough for domestic demand--US
Mon, 06/28/2010 - 08:09TORONTO--US Treasury Secretary Timothy Geithner complained Saturday that governments in Europe and Japan are not doing enough to support global economic recovery through boosting domestic demand.
Categories: Philippine News
Fragile recovery puts development goals at risk: G8
Mon, 06/28/2010 - 08:09The leaders of the world's richest nations warned Saturday the global recovery was still fragile and the economic crisis had compromised development goals set by the United Nations.
Categories: Philippine News
G8 leaders concerned over rising unemployment
Sun, 06/27/2010 - 08:25TORONTO – Group of Eight leaders expressed concern in talks Friday over high unemployment in developed nations and called for a continued focus on economic recovery efforts, a Japanese official said.
Categories: Philippine News
