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                (
                    [ArticleID] => 361482
                    [Title] => Government won’t seek more tax adjustments
                    [Summary] => Finance officials said the Arroyo administration will not lobby for any more tax adjustment legislation until after 2007 when the government’s fiscal position has demonstrated sustainable consolidation.


Finance secretary Margarito B. Teves said the Arroyo administration had the burden of proof to show Congress that it has established a track record for effective collection, administration and spending.


"We had just made a major adjustment," Teves said, referring to the increase in the value-added tax (VAT) rate from 10 to 12 percent.


                    [DatePublished] => 2006-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 346065
                    [Title] => Gov’t to scrap YNN contract
                    [Summary] => The merchant contract of the YNN Pacific Consortium will be terminated by Monday, the Department of Finance (DOF) announced yesterday after forfeiting the group’s $14-million performance bond.


The bond was ordered forfeit by the Power Sector Assets and Liabilities Management Corp. (PSALM) earlier after YNN failed to deliver the upfront payment of $227.54 million for the acquisition of the Masinloc power plant.


                    [DatePublished] => 2006-07-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 285038
                    [Title] => Landbank helps stabilize sugar prices
                    [Summary] => BACOLOD CITY, Negros – The Land Bank of the Philippines (LBP) has launched a special financing program designed to stabilize the prices of sugar in the domestic market. 


Known as the special sugar quedan financing program, the amount released by the LBP will be tapped by the sugar planters nationwide to cover cost of operations without having to sell their quedan to sugar traders. 


                    [DatePublished] => 2005-07-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 239419
                    [Title] => Landbank income surges 21% to P2-B
                    [Summary] => The Land Bank of the Philippines (LBP) chalked up a net income of P2 billion last year, an increase of 21 percent from the P1.65-billion profit registered in 2002.


The positive gains in the past year, plus its optimistic views towards the possible reduction of its non-performing loans (NPLs), thus prompted the bank to set a full year 2004 net income target of P2.15 billion.


                    [DatePublished] => 2004-02-18 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 218749
                    [Title] => Meralco presses more changes in IPP contracts
                    [Summary] => Energy Secretary Vincent S. Perez has asked the independent power producers of Manila Electric Co. (Meralco) – First Gas Power Corp. (FGPC) and Quezon Power (Phils.) Ltd. (QPPL) – to seek more improvements in their contract negotiations to realize more savings for Meralco customers. 


                    [DatePublished] => 2003-08-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 140869
                    [Title] => Landbank seeks AMC partner for its bad loans
                    [Summary] => The Land Bank of the Philippines is considering four foreign firms and a local company as possible equity partner or partners in an asset management company (AMC) that will be formed to liquidate its non-performing loans (NPLs).


As of September this year, the bank’s NPL ratio stood at 25.1 percent, way above the industry average estimated at a little over 18.03 percent. In terms of absolute amount, Landbank has over P20 billion in what are considered NPLs on bad loans.


                    [DatePublished] => 2001-11-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 96589
                    [Title] => Landbank sees 200% profit hike
                    [Summary] => The Land Bank of the Philippines (LBP) is projecting a net income of P1.5 billion this year, 200 percent more than the P509 million recorded in 2000.


LBP president and chief executive officer Margarito B. Teves said the increase will come from higher interest income on loans and increases in income from investments. At the same time, the bank will implement cost-management measures focused on overhead expenses, and controlled increase in interest expense on deposits.


                    [DatePublished] => 2001-04-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

MARGARITO B

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(
    [results] => Array
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                (
                    [ArticleID] => 361482
                    [Title] => Government won’t seek more tax adjustments
                    [Summary] => Finance officials said the Arroyo administration will not lobby for any more tax adjustment legislation until after 2007 when the government’s fiscal position has demonstrated sustainable consolidation.


Finance secretary Margarito B. Teves said the Arroyo administration had the burden of proof to show Congress that it has established a track record for effective collection, administration and spending.


"We had just made a major adjustment," Teves said, referring to the increase in the value-added tax (VAT) rate from 10 to 12 percent.


                    [DatePublished] => 2006-10-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 346065
                    [Title] => Gov’t to scrap YNN contract
                    [Summary] => The merchant contract of the YNN Pacific Consortium will be terminated by Monday, the Department of Finance (DOF) announced yesterday after forfeiting the group’s $14-million performance bond.


The bond was ordered forfeit by the Power Sector Assets and Liabilities Management Corp. (PSALM) earlier after YNN failed to deliver the upfront payment of $227.54 million for the acquisition of the Masinloc power plant.


                    [DatePublished] => 2006-07-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 285038
                    [Title] => Landbank helps stabilize sugar prices
                    [Summary] => BACOLOD CITY, Negros – The Land Bank of the Philippines (LBP) has launched a special financing program designed to stabilize the prices of sugar in the domestic market. 


Known as the special sugar quedan financing program, the amount released by the LBP will be tapped by the sugar planters nationwide to cover cost of operations without having to sell their quedan to sugar traders. 


                    [DatePublished] => 2005-07-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 239419
                    [Title] => Landbank income surges 21% to P2-B
                    [Summary] => The Land Bank of the Philippines (LBP) chalked up a net income of P2 billion last year, an increase of 21 percent from the P1.65-billion profit registered in 2002.


The positive gains in the past year, plus its optimistic views towards the possible reduction of its non-performing loans (NPLs), thus prompted the bank to set a full year 2004 net income target of P2.15 billion.


                    [DatePublished] => 2004-02-18 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 218749
                    [Title] => Meralco presses more changes in IPP contracts
                    [Summary] => Energy Secretary Vincent S. Perez has asked the independent power producers of Manila Electric Co. (Meralco) – First Gas Power Corp. (FGPC) and Quezon Power (Phils.) Ltd. (QPPL) – to seek more improvements in their contract negotiations to realize more savings for Meralco customers. 


                    [DatePublished] => 2003-08-27 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 140869
                    [Title] => Landbank seeks AMC partner for its bad loans
                    [Summary] => The Land Bank of the Philippines is considering four foreign firms and a local company as possible equity partner or partners in an asset management company (AMC) that will be formed to liquidate its non-performing loans (NPLs).


As of September this year, the bank’s NPL ratio stood at 25.1 percent, way above the industry average estimated at a little over 18.03 percent. In terms of absolute amount, Landbank has over P20 billion in what are considered NPLs on bad loans.


                    [DatePublished] => 2001-11-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 96589
                    [Title] => Landbank sees 200% profit hike
                    [Summary] => The Land Bank of the Philippines (LBP) is projecting a net income of P1.5 billion this year, 200 percent more than the P509 million recorded in 2000.


LBP president and chief executive officer Margarito B. Teves said the increase will come from higher interest income on loans and increases in income from investments. At the same time, the bank will implement cost-management measures focused on overhead expenses, and controlled increase in interest expense on deposits.


                    [DatePublished] => 2001-04-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

Government won’t seek more tax adjustments

By Des Ferriols | October 5, 2006 - 12:00am

Finance officials said the Arroyo administration will not lobby for any more tax adjustment legislation until after 2007 when the government’s fiscal position has demonstrated sustainable consolidation. Finance...

Business

Gov’t to scrap YNN contract

By Des Ferriols | July 7, 2006 - 12:00am

The merchant contract of the YNN Pacific Consortium will be terminated by Monday, the Department of Finance (DOF) announced yesterday after forfeiting the group’s $14-million performance bond. The bond was...

Business

Landbank helps stabilize sugar prices

By Ted P. Torres | July 5, 2005 - 12:00am

BACOLOD CITY, Negros – The Land Bank of the Philippines (LBP) has launched a special financing program designed to stabilize the prices of sugar in the domestic market. Known as the special sugar quedan financing...

Banking

Landbank income surges 21% to P2-B

February 18, 2004 - 12:00am

The Land Bank of the Philippines (LBP) chalked up a net income of P2 billion last year, an increase of 21 percent from the P1.65-billion profit registered in 2002. The positive gains in the past year, plus its optimistic...

Business

Meralco presses more changes in IPP contracts

By Donnabelle L. Gatdula | August 27, 2003 - 12:00am

Energy Secretary Vincent S. Perez has asked the independent power producers of Manila Electric Co. (Meralco) – First Gas Power Corp. (FGPC) and Quezon Power (Phils.) Ltd. (QPPL) – to seek more improvements...

Business

Landbank seeks AMC partner for its bad loans

By Ted P. Torres | November 21, 2001 - 12:00am

The Land Bank of the Philippines is considering four foreign firms and a local company as possible equity partner or partners in an asset management company (AMC) that will be formed to liquidate its non-performing...

Business

Landbank sees 200% profit hike

By Ted P. Torres | April 4, 2001 - 12:00am

The Land Bank of the Philippines (LBP) is projecting a net income of P1.5 billion this year, 200 percent more than the P509 million recorded in 2000. LBP president and chief executive officer Margarito B. Teves...

Business