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The Bangko Sentral will continue to lower borrowing costs and free up cash for lending as the global recession threatens to slow growth in the Southeast Asian economy, Gov. Amando Tetangco said.
BDO issuing P2.5-b tier 2 notes next week
By Eileen A. Mencias
Banco de Oro Unibank Inc., the country’s largest bank, will issue P2.5 billion worth of unsecured subordinated notes to strengthen its capital and fund its expansion program.
RP’s forex reserves up at $39.316b in February
The gross international reserves of the central bank rose to a new high of $39.316 billion at the end of February from $39.2 billion in end-January, boosted by loans from the World Bank and the Asian Development Bank and higher gold prices, the Bangko Sentral said yesterday.
‘Sin tax’ collections rose 12% to P47b in ’08
By Lawrence Agcaoili
Revenues collected from the so-called sin products rose close to 12 percent last year as cigarette and liquor makers advanced their withdrawals to avoid paying higher excise tax rates this year.
Meralco: Hot weather raising electricity cost
By Alena Mae S. Flores
Customers of Manila Electric Co. will pay higher generation charge of P0.025 per kilowatt-hour this month due to higher cost of power from the wholesale electricity spot market and National Power Corp. as a result of the onset of the dry season.
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