RP may be excluded from free trade deal between EU, Asean
Gmanews.tv
05/16/2008 | 03:07 PM

MANILA, Philippines - The Philippines may be excluded from a proposed free trade agreement (FTA) between Southeast Asian countries and the European Union (EU), if it continues to “take a longer time" to prepare for the economic partnership.

In a Friday press briefing, an EU diplomatic official said that Manila “is taking longer" to draft a proposed partnership cooperation agreement (PCA), a prerequisite for the Philippines to be included in the FTA. More RP may be excluded from free trade deal between EU, Asean

RP competitiveness rank improves
ABS-CBNNews.com
05/15/2008
 
The Philippines' ranking in world competitiveness this year improved five notches to 40, according to the latest World Competitiveness Yearbook to be released by International Institute for Management Development.

In its 20th annual survey, the Switzerland-based business school noted of improvements in the country’s economic fundamentals, including a gross domestic product of 7.3 percent last year.

The Philippine country report also took note of the country’s richest resources -- its labor force. More RP competitiveness rank improves

First Gen to raise $400M to refinance nat-gas facilities
By Donnabelle L. Gatdula, philstar.com
Thursday, May 15, 2008

Lopez-controlled First Gen Corp. will tap the debt market next month to raise more than $400 million for the refinancing of its two natural gas-fired facilities.

 In a report to the company’s stockholders,  First Gen president and CEO Federico Lopez said “the company is pursuing its refinancing plans for Santa Rita and San Lorenzo, the proceeds of which will be used to further pay down the remaining short-term debt due in the second half this year and first half of 2009.” More First Gen to raise $400M to refinance nat-gas facilities

Cebu Pacific offers airline seats for 'free' in new promo
Gmanews.tv
05/14/2008 | 03:22 PM

MANILA, Philippines- Budget airline Cebu Pacific will be offering more than 500,000 domestic and international seats for "free" in its biggest seat sale ever, the company announced Wednesday.

In a statement, the airline unit of JG Summit Holdings Inc. said it allocated more than 100,000 seats for its international routes that include: Bangkok, Guangzhou, Hanoi, Ho Chi Minh, Hong Kong, Jakarta, Kaohsiung, Kota Kinabalu, Kuala Lumpur, Macau, Taipei, Shanghai, Singapore and Xiamen. More Cebu Pacific offers airline seats for 'free' in new promo

RP courts COSCO anew
By Ma. Elisa P. Osorio, philstar.com
Wednesday, May 14, 2008

The Philippines is courting Chinese shipping firm China Ocean Shipping Co. (COSCO) anew to invest in the Philippines and make the country its logistics hub in the region.

“I will invite them for another visit,” Ambassador Francis Chua, special envoy on China trade and investments told reporters yesterday.

The investment of COSCO is expected to make the Philippines a maritime power in the region. More RP courts COSCO anew

RP banks' microfinance loans grow 12% in 2007
Gmanews.tv
05/13/2008 | 04:07 PM

MANILA, Philippines- The microfinance loan portfolio of Philippine banks has grew 12 percent in 2007 from a year earlier, as more institutions lent to the most underserved market in the financial sector.

Data released by the Bangko Sentral ng Pilipinas on Tuesday showed that microfinance lending has increased 12 percent to P6 billion due to untapped demand for micro-financing and aggressive lending by rural banks, More RP banks' microfinance loans grow 12% in 2007

Isabela's abaca venture gets P1M boost
By Erwin Ambo Delilan, sunstar.com
Tuesday, May 13, 2008

THE aim of Isabela town to be the abaca capital of Negros Occidental soon got a much-needed boost with the release of P1-million financial assistance from the office of Rep. Ignacio 'Iggy' Arroyo Jr. (5th District, Negros Occidental) last Saturday.

During the turn over of the P1 million cheque at the office of the Municipal Council of Isabela, Arroyo asked the town's barangay chiefs to have concerted efforts in helping the newly-started abaca venture in their town to realize their dream of making Isabela the soon-to-be abaca center of the province. More Isabela's abaca venture gets P1M boost (Photo:farm2.static.flickr.com)