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Annual Philippine import growth was above 20 percent in both January and February, but the growth rate of electronics, which is mostly used in export industries, lagged. (Reporting by Raju Gopalakrishnan; editing by Jacqueline Wong) - MANILA, May 11 - The Philippine central bank has lowered the export growth forecast for this year to 6 percent from 8 percent because of the slowdown in the United States, the country's biggest trading partner, central bank sources said. More »
MANILA, May 9 - The Philippines said on Friday it will sell debt-exchange warrants this month for the second time in 2008 to allow holders of its foreign currency bonds to convert to peso bonds in case of default. More »
The family returned to the company in 1986 after Marcos' ouster following a popular revolt. (Reporting by Rosemarie Francisco; Editing by Michael Urquhart) - MANILA, May 8 - The patriarch of a Philippine business family that controls the country's biggest power utility said he wants to sell the family stake in the company following government pressure to lower rates. More »
MANILA, May 8 - The Philippines may exceed its annual inflation target this year of 3 to 5 percent because of the spike in commodity prices, central bank deputy governor Diwa Guinigundo said on Thursday. More »
Since 2004, the government has sold 10 power plants worth a total of $2.7 billion and a 25-year licence to run the country's power grid valued at $3.95 billion. (Reporting by Rosemarie Francisco; Editing by Michael Urquhart) - MANILA, May 8 - The Philippine government wants to sell two diesel power plants in the third quarter to remain on track with its energy privatisation, a senior government official said on Thursday. More »
((karen.lema@thomsonreuters.com; Reuters Messaging: karen.lema.reuters.com@reuters.net; +632 841 8938) - MANILA, May 8 - The Philippines' main tax agencies have slightly exceeded collection goals in April, boding well for government plans to reach a budget surplus in the second quarter, officials said on Thursday. More »
MANILA, May 8 - Three months to March 31, 2008. More »
"In spite of the drop in our income, we are confident that we will be able to meet our financial and operating targets for the year as we begin to see the positive impact of our new petrochemical feedstock units," Petron spokeswoman Virginia Ruivivar said in a statement. (Reporting by Rosemarie Francisco; Writing by Raju Gopalakrishnan; Editing by Lincoln Feast) - MANILA, May 7 - A Philippine business family said on Wednesday it had offered to buy the government's 40 percent stake in oil refiner Petron Corp for about $579 million. More »
MANILA, May 7 - The Philippines' gross foreign reserves reached a record $36.7 billion at the end of April, inching up from a revised $36.6 billion in the previous month, the central bank said on Wednesday. More »
Net profit in the first quarter of 1.6 billion pesos ($38 million) - MANILA, May 6 - SM Prime Holdings , the Philippines' largest mall developer, said on Tuesday net profit in the first quarter was up an annual 7 percent, a slower pace from last year's double digit growth as rising inflation crimps consumer spending. More »
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