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                    [ArticleID] => 211164
                    [Title] => NG plans to borrow another $500-M
                    [Summary] => The National Government is looking at the possibility of tapping the international market anew to raise about $500 million of the $900-million remaining requirement for the year.
                    [DatePublished] => 2003-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 210574
                    [Title] => Government expected to save P5.3-B on streamlining measure
                    [Summary] => The National Government is likely to save about P5.3 billion if it succeeds in streamlining the government bureaucracy.


Department of Finance sources said the savings may be used to finance possible "adjustment"in the benefits of state workers for 2004. 


The sources said some P10 billion has already been allocated for 2003 as "streamlining cost" which will cover the separation pay and other benefits of employees of agencies affected by the bureaucracy rationalization. 


                    [DatePublished] => 2003-06-18 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 203530
                    [Title] => SARS forces government to review its growth targets this year
                    [Summary] => The  dreaded Severe Acute Respiratory Syndrome (SARS) has forced the Development Budget Coordinating Council (DBCC) to take another look at its economic growth projections as well as other macroeconomic assumptions.
                    [DatePublished] => 2003-04-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 200470
                    [Title] => Government to pump P5B into Home Guarantee Corp
                    [Summary] => The government is infusing a total of P5 billion in cash and assets into the Home Guarantee Corp. (HGC) in an attempt to recapitalize the beleaguered company after its failed attempt to issue some P7.5 billion worth of bonds last year.


Finance Secretary Jose Isidro N. Camacho said yesterday that the amount would the part of the government’s equity contribution to the fund whose problems reached crisis proportions due to high loan default rates.


                    [DatePublished] => 2003-03-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 200480
                    [Title] => PNOC-EC defers sale of Malampaya stake
                    [Summary] => The state-run Philippine National Oil Co. - Exploration Corp. (PNOC-EC) has deferred anew the  sale of its  10-percent stake in the $4.5-billion Malampaya gas project.  


PNOC-EC president Rufino Bomasang said the planned sale was put on hold again because government has not yet determined the most feasible mode of  privatization for government’s stake in the project. 


                    [DatePublished] => 2003-03-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 192142
                    [Title] => Stock market seen reverting to consolidation phase this week
                    [Summary] => After a strong performance during the past few days, the local stock market is seen to revert to a consolidation phase this week as investors await further news on corporate results and from the political front, traders said.


Analysts expect investors to trade with caution as fears of a possible war in the Middle East continue to outweigh positive developments on the domestic front.  Together with the Venezuelan strike, the escalating tension in the Middle East has caused oil prices to shoot up, causing serious concerns across global markets.


                    [DatePublished] => 2003-01-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 178581
                    [Title] => Peso weakens to 52.755-to-a-dollar
                    [Summary] => The peso depreciated further yesterday to an intra-day low of 52.755-to-a-dollar  as a result of high demand, concerns over the budget deficit and the weakening of the other regional currencies.


However, Bangko Sentral ng Pilipinas Deputy Governor for research and treasury Amando Tetangco Jr. said the weakness of the peso against the dollar will be short-lived, as he cited the dollar inflows from overseas Filipino workers (OFWs) in  the fourth quarter.


                    [DatePublished] => 2002-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 178624
                    [Title] => Napocor to ‘piggyback’ on government borrowing
                    [Summary] => The National Government will allow National Power Corp. (Napocor) to "piggyback" on its foreign borrowing to raise $1.5 billion for the power firm’s funding requirement next year.


Finance Secretary Jose Isidro N. Camacho said the government will come in for Napocor for its financial needs should there be a delay in the privatization of its transmission lines.


"We are open (to borrow for Napocor)," Camacho said when asked if the government will again be used by  the state-utility in tapping the international financial market next year.


                    [DatePublished] => 2002-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 144508
                    [Title] => Camacho commends Alcordo
                    [Summary] => Finance Secretary Jose Isidro N. Camacho has lauded the leadership of outgoing National Power Corp. president Jesus N. Alcordo, saying he was not eased out of his post.


He issued the clarification following news reports that he was forced to leave Napocor.


Camacho, former head of the Department of Energy and concurrent Napocor chairman, vouched for Alcordo’s integrity, expressing that Alcordo will be able to clear himself of the plunder charge filed against him involving the O-Ilaw electrification program.


                    [DatePublished] => 2001-12-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 139841
                    [Title] => Proposal to junk fiscal incentives bucked
                    [Summary] => The National Tax Research Center (NTRC) is cautioning against a proposal for member-countries of the Association of South East Asian Nations (ASEAN) to disengage from the grant of fiscal incentives.


In a letter to Finance Secretary Jose Isidro N. Camacho, the NTRC admitted that there are two schools of thought on the need or significance of fiscal incentives.


On one hand, the NTRC said, there are benefits brought about by foreign investments that are lured by tax incentives.


                    [DatePublished] => 2001-11-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

FINANCE SECRETARY JOSE ISIDRO N

Array
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                    [ArticleID] => 211164
                    [Title] => NG plans to borrow another $500-M
                    [Summary] => The National Government is looking at the possibility of tapping the international market anew to raise about $500 million of the $900-million remaining requirement for the year.
                    [DatePublished] => 2003-06-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 210574
                    [Title] => Government expected to save P5.3-B on streamlining measure
                    [Summary] => The National Government is likely to save about P5.3 billion if it succeeds in streamlining the government bureaucracy.


Department of Finance sources said the savings may be used to finance possible "adjustment"in the benefits of state workers for 2004. 


The sources said some P10 billion has already been allocated for 2003 as "streamlining cost" which will cover the separation pay and other benefits of employees of agencies affected by the bureaucracy rationalization. 


                    [DatePublished] => 2003-06-18 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 203530
                    [Title] => SARS forces government to review its growth targets this year
                    [Summary] => The  dreaded Severe Acute Respiratory Syndrome (SARS) has forced the Development Budget Coordinating Council (DBCC) to take another look at its economic growth projections as well as other macroeconomic assumptions.
                    [DatePublished] => 2003-04-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 200470
                    [Title] => Government to pump P5B into Home Guarantee Corp
                    [Summary] => The government is infusing a total of P5 billion in cash and assets into the Home Guarantee Corp. (HGC) in an attempt to recapitalize the beleaguered company after its failed attempt to issue some P7.5 billion worth of bonds last year.


Finance Secretary Jose Isidro N. Camacho said yesterday that the amount would the part of the government’s equity contribution to the fund whose problems reached crisis proportions due to high loan default rates.


                    [DatePublished] => 2003-03-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 200480
                    [Title] => PNOC-EC defers sale of Malampaya stake
                    [Summary] => The state-run Philippine National Oil Co. - Exploration Corp. (PNOC-EC) has deferred anew the  sale of its  10-percent stake in the $4.5-billion Malampaya gas project.  


PNOC-EC president Rufino Bomasang said the planned sale was put on hold again because government has not yet determined the most feasible mode of  privatization for government’s stake in the project. 


                    [DatePublished] => 2003-03-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 192142
                    [Title] => Stock market seen reverting to consolidation phase this week
                    [Summary] => After a strong performance during the past few days, the local stock market is seen to revert to a consolidation phase this week as investors await further news on corporate results and from the political front, traders said.


Analysts expect investors to trade with caution as fears of a possible war in the Middle East continue to outweigh positive developments on the domestic front.  Together with the Venezuelan strike, the escalating tension in the Middle East has caused oil prices to shoot up, causing serious concerns across global markets.


                    [DatePublished] => 2003-01-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 178581
                    [Title] => Peso weakens to 52.755-to-a-dollar
                    [Summary] => The peso depreciated further yesterday to an intra-day low of 52.755-to-a-dollar  as a result of high demand, concerns over the budget deficit and the weakening of the other regional currencies.


However, Bangko Sentral ng Pilipinas Deputy Governor for research and treasury Amando Tetangco Jr. said the weakness of the peso against the dollar will be short-lived, as he cited the dollar inflows from overseas Filipino workers (OFWs) in  the fourth quarter.


                    [DatePublished] => 2002-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 178624
                    [Title] => Napocor to ‘piggyback’ on government borrowing
                    [Summary] => The National Government will allow National Power Corp. (Napocor) to "piggyback" on its foreign borrowing to raise $1.5 billion for the power firm’s funding requirement next year.


Finance Secretary Jose Isidro N. Camacho said the government will come in for Napocor for its financial needs should there be a delay in the privatization of its transmission lines.


"We are open (to borrow for Napocor)," Camacho said when asked if the government will again be used by  the state-utility in tapping the international financial market next year.


                    [DatePublished] => 2002-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 144508
                    [Title] => Camacho commends Alcordo
                    [Summary] => Finance Secretary Jose Isidro N. Camacho has lauded the leadership of outgoing National Power Corp. president Jesus N. Alcordo, saying he was not eased out of his post.


He issued the clarification following news reports that he was forced to leave Napocor.


Camacho, former head of the Department of Energy and concurrent Napocor chairman, vouched for Alcordo’s integrity, expressing that Alcordo will be able to clear himself of the plunder charge filed against him involving the O-Ilaw electrification program.


                    [DatePublished] => 2001-12-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 139841
                    [Title] => Proposal to junk fiscal incentives bucked
                    [Summary] => The National Tax Research Center (NTRC) is cautioning against a proposal for member-countries of the Association of South East Asian Nations (ASEAN) to disengage from the grant of fiscal incentives.


In a letter to Finance Secretary Jose Isidro N. Camacho, the NTRC admitted that there are two schools of thought on the need or significance of fiscal incentives.


On one hand, the NTRC said, there are benefits brought about by foreign investments that are lured by tax incentives.


                    [DatePublished] => 2001-11-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

NG plans to borrow another $500-M

By Donnabelle L. Gatdula | June 23, 2003 - 12:00am

The National Government is looking at the possibility of tapping the international market anew to raise about $500 million of the $900-million remaining requirement for the year.

Business

Government expected to save P5.3-B on streamlining measure

By Donnabelle L. Gatdula | June 18, 2003 - 12:00am

The National Government is likely to save about P5.3 billion if it succeeds in streamlining the government bureaucracy. Department of Finance sources said the savings may be used to finance possible "adjustment"in...

Business

SARS forces government to review its growth targets this year

By Ted P. Torres | April 24, 2003 - 12:00am

The dreaded Severe Acute Respiratory Syndrome (SARS) has forced the Development Budget Coordinating Council (DBCC) to take another look at its economic growth projections as well as other macroeconomic assumpt...

Business

Government to pump P5B into Home Guarantee Corp

March 27, 2003 - 12:00am

The government is infusing a total of P5 billion in cash and assets into the Home Guarantee Corp. (HGC) in an attempt to recapitalize the beleaguered company after its failed attempt to issue some P7.5 billion worth...

Business

PNOC-EC defers sale of Malampaya stake

By Rocel Felix | March 27, 2003 - 12:00am

The state-run Philippine National Oil Co. - Exploration Corp. (PNOC-EC) has deferred anew the sale of its 10-percent stake in the $4.5-billion Malampaya gas project. PNOC-EC president Rufino Bomasang said the...

Business

Stock market seen reverting to consolidation phase this week

By Zinnia B. Dela Peña | January 20, 2003 - 12:00am

After a strong performance during the past few days, the local stock market is seen to revert to a consolidation phase this week as investors await further news on corporate results and from the political front,...

Business

Peso weakens to 52.755-to-a-dollar

October 5, 2002 - 12:00am

The peso depreciated further yesterday to an intra-day low of 52.755-to-a-dollar as a result of high demand, concerns over the budget deficit and the weakening of the other regional currencies. However, Bangko...

Business

Napocor to ‘piggyback’ on government borrowing

October 5, 2002 - 12:00am

The National Government will allow National Power Corp. (Napocor) to "piggyback" on its foreign borrowing to raise $1.5 billion for the power firm’s funding requirement next year. Finance Secretary...

Business

Camacho commends Alcordo

December 22, 2001 - 12:00am

Finance Secretary Jose Isidro N. Camacho has lauded the leadership of outgoing National Power Corp. president Jesus N. Alcordo, saying he was not eased out of his post. He issued the clarification following news...

Business

Proposal to junk fiscal incentives bucked

By Marianne V. Go | November 12, 2001 - 12:00am

The National Tax Research Center (NTRC) is cautioning against a proposal for member-countries of the Association of South East Asian Nations (ASEAN) to disengage from the grant of fiscal incentives. In a letter...

Business