+ Follow FINANCE UNDERSECRETARY ERIC O Tag
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 269639
[Title] => RP awards development contract for two Kobe properties
[Summary] => The Arroyo administration has finally awarded the development contract for its two properties in Kobe, Japan but the awarding of the contract for the controversial Tokyo property is still awaiting resolution by Malacañang.
The Department of Finance (DOF) disclosed yesterday that the Tokyo property has been left out of the award but the development of the Kobe properties are finally ready to start pending the finalization of the contract.
[DatePublished] => 2005-03-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 264679
[Title] => Government eyes foreign borrowings for 2005 requirements
[Summary] => With the National Power Corp.’s (Napocor) funding requirements now out of the way, the government is now open to more foreign borrowings to pre-fund its 2005 requirements.
The government has recently concluded its $1-billion global bond offer, raising enough funds to meet Napocor’s funding needs.
Finance officials said there were no specific deals in the pipeline but clearing Napocor’s funding requirements has paved the way for more borrowing for the remainder of the year.
[DatePublished] => 2004-09-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 264173
[Title] => RP raises $1B in global bonds
[Summary] => The Philippines has raised $1 billion from a fresh offering of sovereign bonds with the funds earmarked for the financing needs of debt-laden state-owned National Power Corp. (Napocor), the Department of Finance said yesterday.
The government offered paper from two previous bond series which mature in 2015 and 2025, the finance department said.
A total of $300- million worth of the 2015 bonds with a yield of 8.875 percent were sold. A further $700-million worth of 2025 paper at 10.625 percent were also sold.
[DatePublished] => 2004-09-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 262508
[Title] => ...but international financial institutions remain unfazed
[Summary] => The international financial market remained largely unfazed by the uproar over the imminent declaration of a fiscal crisis in the Philippines, opting instead to adopt a wait-and-see attitude until the dust has settled.
President Arroyo admitted last Monday that the government was in a midst of a fiscal crisis but after an emergency meeting, the Development Budget Coordinating Council (DBCC) said there was no plan to make an official declaration.
[DatePublished] => 2004-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 260564
[Title] => Bids for dev’t of RP’s Japan properties extended anew
[Summary] => The bids for the much-coveted Japan properties have been extended for the second time but the Philippine government must immediately award the development contract to the winning bidder before the third waiting period lapses again.
The awarding of the development contract is waiting only for the approval of Finance Secretary Juanita Amatong, a transaction that would give the government at least ¥1.7 billion.
[DatePublished] => 2004-08-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 257737
[Title] => Pricing holds key to privatization of government assets — Recto
[Summary] => Revenue-raising efforts of the government should focus not only on imposing new taxes but also on liquidating certain assets at the right price, Finance Undersecretary Eric O. Recto said yesterday.
"Under the circumstances, every little bit counts," Recto said. There are still several assets that could be sold aside from the most controversial holdings in Petron and Malampaya, he added.
[DatePublished] => 2004-07-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 257335
[Title] => Economic team OKs 4-pt program
[Summary] => The Arroyo administration has finally approved the four-point program that ties up its economic and legislative reform agenda and includes painful but critical tax measures.
If implemented in full, the program is expected to generate P100 billion on the first year, barely enough to meet the incremental funding requirements of the government.
The economic team met with President Arroyo at Malacañang yesterday to decide once and for all whether to proceed with the economic program drafted by the Development Budget Coordinating Committee (DBCC).
[DatePublished] => 2004-07-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 255564
[Title] => Gov’t to raise $1B in 2 tranches
[Summary] => The National Government may raise its remaining $1-billion borrowing requirement in two tranches to fund its spending and the remaining requirements of the National Power Corp.
The government has been saying that it has already borrowed as much as it planned to borrow from the international credit market but this year’s funding requirement turned to be at least P50 billion more than expected.
[DatePublished] => 2004-06-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 248950
[Title] => RP’s $200-M currency swap with ADB hits snag
[Summary] => Negotiations between the Department of Finance (DOF) and the Asian Development Bank (ADB) on a proposed $200-million currency swap hit a snag yesterday as the two parties failed to agree on the pricing terms and other technical issues.
The ADB and the DOF have been working on the $200-million currency swap where the Philippine government would get dollars for pesos that it would give to the ADB.
The ADB would then lend the pesos to local banks that would, in turn, lend them to qualified borrowers in sectors picked specifically as beneficiaries of the lending program.
[DatePublished] => 2004-05-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 247924
[Title] => RP sells $400-M bonds
[Summary] => Going on a borrowing spree right before the May 10 elections, the Arroyo administration sold $400 million worth of bonds to finance the requirements of the state-owned National Power Corp. (Napocor).
[DatePublished] => 2004-04-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
FINANCE UNDERSECRETARY ERIC O
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 269639
[Title] => RP awards development contract for two Kobe properties
[Summary] => The Arroyo administration has finally awarded the development contract for its two properties in Kobe, Japan but the awarding of the contract for the controversial Tokyo property is still awaiting resolution by Malacañang.
The Department of Finance (DOF) disclosed yesterday that the Tokyo property has been left out of the award but the development of the Kobe properties are finally ready to start pending the finalization of the contract.
[DatePublished] => 2005-03-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 264679
[Title] => Government eyes foreign borrowings for 2005 requirements
[Summary] => With the National Power Corp.’s (Napocor) funding requirements now out of the way, the government is now open to more foreign borrowings to pre-fund its 2005 requirements.
The government has recently concluded its $1-billion global bond offer, raising enough funds to meet Napocor’s funding needs.
Finance officials said there were no specific deals in the pipeline but clearing Napocor’s funding requirements has paved the way for more borrowing for the remainder of the year.
[DatePublished] => 2004-09-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 264173
[Title] => RP raises $1B in global bonds
[Summary] => The Philippines has raised $1 billion from a fresh offering of sovereign bonds with the funds earmarked for the financing needs of debt-laden state-owned National Power Corp. (Napocor), the Department of Finance said yesterday.
The government offered paper from two previous bond series which mature in 2015 and 2025, the finance department said.
A total of $300- million worth of the 2015 bonds with a yield of 8.875 percent were sold. A further $700-million worth of 2025 paper at 10.625 percent were also sold.
[DatePublished] => 2004-09-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 262508
[Title] => ...but international financial institutions remain unfazed
[Summary] => The international financial market remained largely unfazed by the uproar over the imminent declaration of a fiscal crisis in the Philippines, opting instead to adopt a wait-and-see attitude until the dust has settled.
President Arroyo admitted last Monday that the government was in a midst of a fiscal crisis but after an emergency meeting, the Development Budget Coordinating Council (DBCC) said there was no plan to make an official declaration.
[DatePublished] => 2004-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 260564
[Title] => Bids for dev’t of RP’s Japan properties extended anew
[Summary] => The bids for the much-coveted Japan properties have been extended for the second time but the Philippine government must immediately award the development contract to the winning bidder before the third waiting period lapses again.
The awarding of the development contract is waiting only for the approval of Finance Secretary Juanita Amatong, a transaction that would give the government at least ¥1.7 billion.
[DatePublished] => 2004-08-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 257737
[Title] => Pricing holds key to privatization of government assets — Recto
[Summary] => Revenue-raising efforts of the government should focus not only on imposing new taxes but also on liquidating certain assets at the right price, Finance Undersecretary Eric O. Recto said yesterday.
"Under the circumstances, every little bit counts," Recto said. There are still several assets that could be sold aside from the most controversial holdings in Petron and Malampaya, he added.
[DatePublished] => 2004-07-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 257335
[Title] => Economic team OKs 4-pt program
[Summary] => The Arroyo administration has finally approved the four-point program that ties up its economic and legislative reform agenda and includes painful but critical tax measures.
If implemented in full, the program is expected to generate P100 billion on the first year, barely enough to meet the incremental funding requirements of the government.
The economic team met with President Arroyo at Malacañang yesterday to decide once and for all whether to proceed with the economic program drafted by the Development Budget Coordinating Committee (DBCC).
[DatePublished] => 2004-07-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 255564
[Title] => Gov’t to raise $1B in 2 tranches
[Summary] => The National Government may raise its remaining $1-billion borrowing requirement in two tranches to fund its spending and the remaining requirements of the National Power Corp.
The government has been saying that it has already borrowed as much as it planned to borrow from the international credit market but this year’s funding requirement turned to be at least P50 billion more than expected.
[DatePublished] => 2004-06-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 248950
[Title] => RP’s $200-M currency swap with ADB hits snag
[Summary] => Negotiations between the Department of Finance (DOF) and the Asian Development Bank (ADB) on a proposed $200-million currency swap hit a snag yesterday as the two parties failed to agree on the pricing terms and other technical issues.
The ADB and the DOF have been working on the $200-million currency swap where the Philippine government would get dollars for pesos that it would give to the ADB.
The ADB would then lend the pesos to local banks that would, in turn, lend them to qualified borrowers in sectors picked specifically as beneficiaries of the lending program.
[DatePublished] => 2004-05-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 247924
[Title] => RP sells $400-M bonds
[Summary] => Going on a borrowing spree right before the May 10 elections, the Arroyo administration sold $400 million worth of bonds to finance the requirements of the state-owned National Power Corp. (Napocor).
[DatePublished] => 2004-04-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
