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Peso continues to strengthen vs dollar

MANILA, Philippines - The peso continued to strengthen against the dollar yesterday due to improved investor sentiment arising from the improving jobs report in the US. Analysts said investors had their first chance to react to Friday’s US Labor Department report showing the unemployment rate holding steady at 9.7 percent in February despite adverse winter conditions.   The peso appreciated to 45.74 to $1 before closing at 45.76 to $1 or six centavos stronger than the closing of 45.82 t...

ABS-CBN: Our ad spots have 'better value'

MANILA - Even with the decline in advertising minutes, airtime revenues of media giant ABS-CBN Broadcasting Corp. continued to rise for the first 6 months of 2009. According to ABS-CBN Chief Research and Business Analysis Officer Vivian Tin, the company's ad spots, although less, provide more value to their clients. "We make sure that programming and packages have been productive for clients. Ad minutes may have been down, yet airtime revenues are still up," Tin said during ABS-CBN's investo...

Filipino franchisers see growth despite hard times

Despite hard times, a group of Filipino franchisers still see growth for the year, hoping to improve their sales by a fifth this year. Rommel Juan, president of the Association of the Filipino Franchisers Inc., said they see a 20-percent increase from the group's sales of P13 billion in 2008. “The franchising industry remains vibrant. We have the most vibrant franchising industry in the region," said Juan, who is also the president of the Binalot Fiesta Foods Inc. The group is als...

Alcohol, tobacco excise taxes breach govt targets

Taxes imposed on liquor, tobacco, and petroleum products slightly breached government targets for the first six months this year, the Department of Finance (DOF) said on Thursday. The government was able to collect P29.448 billion in excise taxes, almost five per cent higher than revenue targets of P28.088 billion during the period. Excise taxes from alcohol rose by 1.64 per cent to P10.229 billion, exceeding collection expectations of P10.064 billion. Despite the increase, the collect...

NTC postpones accumulated phone load due to technical glitch

MANILA - While the implementation of the new rule extending phone load expiry will push through on July 19, the calculation of the new expiry date based on the sum of old and new phone credits will be pushed back, an official said Tuesday night. "They (telecom companies) requested for extension because of some problems in their software," National Telecommunications Commission commissioner Ruel Canobas told reporters during the launching of Cignal Digital TV at NBC Tent in Fort Boni...