BSP keeps key rates unchanged

 Economy
Dec 112014
 
BSP keeps key rates unchanged

MANILA, Philippines – The Bangko Sentral ng Pilipinas left key policy rates unchanged during its last rate-setting meeting for the year as inflation expectations continued to remain within the target for this year until 2016. BSP Governor Amando M. Tetangco Jr. said in a briefing yesterday the overnight borrowing and overnight lending rates were kept steady at four percent and six percent, respectively. The interest rates on the reverse repurchase, repurchase and the special deposit account facility and the reserve requirement ratios were also maintained. “The Monetary Board’s decision is based on its assessment that the inflation environment continues to be more manageable, with the risks to the inflation outlook remaining broadly balanced over the policy horizon,” Tetangco said. “Latest baseline forecasts show a lower inflation path for 2014 to 2016 relative to the previous policy meeting, reflecting in large part the subdued outlook for global commodity prices,” he continued. The policy making Monetary Board now forecasts inflation to average 4.2 percent this year from an October projection of 4.4 percent. The rate next year is also seen settling at an average of just three percent, down from a previous forecast of 3.7 percent, while the 2016 average is now seen at 2.6 percent from 2.8 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The government has a three- to five-percent target for inflation this year and a two- to four-percent range for 2015 and 2016. “Output growth moderated in the third quarter of 2014 as agricultural production Read More …

Paying more attention to working capital (Part 3)

 Economy
Dec 102014
 

IN OUR SECOND installment of this three-part series on the importance of working capital in valuation, we talked about effective working capital planning, benchmarking, setting target levels, and managing working capital as part of a continuous improvement process. In this last installment, we will cover the actual tactics one can implement for effective working capital management. All of these tactics, applied on an ongoing basis, can help a firm optimize its cash flow and hence, its business enterprise valuation.

Hyundai rolls out all-new 2015 Sonata: Integrity through luxury

 Economy
Dec 092014
 
Hyundai rolls out all-new 2015 Sonata: Integrity through luxury

MANILA, Philippines – Hyundai Asia Resources, Incorporated (HARI) announces the Philippine release of the all-new 2015 Hyundai Sonata, further cementing its mark in the performance-focused midsize sedan category. After making waves in the local auto industry with the sixth-generation Sonata, the all-new 2015 Sonata, which will be officially released on December 15, is luxury redefined, poised to set a new trend in global quality and an epitome of integrity with its four core innovations, labeled as RSVP—Run, Stop, Versatility, Protect—features that embody strength and beauty. The seventh-generation Sonata has a significantly bigger body than the previous model, measuring 35mm longer and 30mm wider. It is also slightly taller by 10mm, and has a longer wheelbase by 10mm. Passenger space was clearly a design priority with the size upgrade. The all-new 2015 Sonata is the only midsize sedan classified as a “large car” in terms of interior space, according to the US Environmental Protection Agency (EPA). Run With a quiet but responsive 178ps/23.3 kg-m Theta II 2.4L MPI DOHC D-CVVT engine underneath its hood, power is not a question with the 2015 Sonata. And to give even more flexibility and fuel efficiency, the new Sonata comes with a 6-speed automatic. With Hyundai’s new Fluidic Sculpture 2.0, the Sonata’s body is engineered to look good and perform even better. Its new shape—lowered hood edge and flat underbody—reduces wind drag and keeps a firm grip on the road, further improving fuel efficiency, stability, and handling. Business ( Article MRec ), pagematch: 1, sectionmatch: Read More …

Start of a New Legend Lamborghini: Manila launches new Huracán

 Economy
Dec 092014
 
Start of a New Legend Lamborghini: Manila launches new Huracán

Automobili Lamborghini S.p.A. Asia Pacific Sales Director Sebastien Henry and Lamborghini Manila Sales Manager Enrique Jarlego II MANILA, Philippines – A new era is beginning for Automobili Lamborghini and the luxury super sports car segment. It’s called the Huracán and with it, Lamborghini is not only presenting the successor to the iconic Gallardo, it is also redefining the benchmark for luxury super sports cars in this segment. With 14,022 units produced, the Gallardo was the most successful Lamborghini model ever made. During its ten-year production run, it took the brand into a completely new dimension. And now, in true Lamborghini tradition, the successor to the Gallardo also takes its name from the world of bullfighting: Huracán was a fighting bull of the Spanish Conte de la Patilla breed that fought in August 1879 in Alicante. The mighty bull’s unyielding character made him invincible. With its pure and unique design, an innovative technology package, and outstanding dynamics, the Huracán offers a super sports car experience on a whole new level. The Huracán combines absolute performance with easy-to drive road behavior and both luxurious and sport-oriented finish. With the Huracán, Lamborghini is taking a big step into the future, and enhancing the brand’s illustrious history with the next automotive legend. The ceremony was held last November 26 in the presence of Sebastien Henry, Head of Southeast Asia of Automobili Lamborghini, who unveiled and presented the Huracán for the first time to Manila. The official world debut took place during the 2014 Geneva Read More …

Leveraging Filipino talent: Going global without leaving home

 Economy
Dec 072014
 

IN DAYS when Makati was still a 9-to-5 city, taxis knew their best chance at a late-night passenger would be outside the SGV & Co. offices. Like moths drawn to the few lights burning on Ayala long after the working day was done, cabs would queue outside the Firm’s buildings assured of a steady stream of passengers who had put in extra hours at the office.

Malaysia’s MTD Group to put up N. Ecija gov’t center

 Economy
Dec 072014
 
Malaysia’s MTD Group to put up N. Ecija gov’t center

PALAYAN CITY, Nueva Ecija, Philippines – A giant Malaysian conglomerate which bankrolled the construction of the South Luzon Expressway (SLEX) and the Calabarzon Regional Government Center (CRGC) has tied up with the Nueva Ecija provincial government to establish a P1.5-billion, world-class new government center and business hub in this provincial capital in what is considered as the single, biggest Capitol project under the Umali administration. The mega-project, dubbed the Palayan City Business Hub (PCBH), was unveiled during ground-breaking ceremonies at a 3.4-hectare site in Barangay Singalat at the back of the newly refurbished city hall. Gov. Aurelio Umali, who conceptualized the mega-project, said it is a joint venture between MTD Philippines, a subsidiary of Malaysian conglomerate Alloy MTD, and the provincial government under the Public-Private Partnership (PPP) scheme. The province was the first local government unit (LGU) to enact a PPP Code. Umali led the ground-breaking rites for the project along with Mayor Adrianne Mae Cuevas, Dato Azmil Khalid, chief executive officer of Alloy MTD Group of Malaysia and head of the Malaysia-Philippines Business Council (MPBC) and MTD Philippines president Isaac David. The project site was donated to the provincial government by the city government under Cuevas.  The mega-project is labor-intensive and would generate a whopping 13,000 jobs, 10,000 of which in call centers alone, with the rest to come from the operations of the various commercial establishments, the hotel and the government offices. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Alloy MTD, based in Malaysia, is a Read More …

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