+ Follow FINANCE UNDERSECRETARY ERIC RECTO Tag
FINANCE UNDERSECRETARY ERIC RECTO
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[ArticleID] => 264096
[Title] => 2-year T-bond rate rises
[Summary] => The two-year Treasury bond fetched yesterday a coupon rate of 10.75 percent, up by more than one percentage point from its last auction on May 4. Indicating strong market appetite, total tenders reached P5.675 billion against a P4.5-billion offering.
The auction committee awarded P4.315-billion worth of bids. "The rates were already there as early as June. There are also the expectations that the inflation rate was moving up, so we decided to just align it at the secondary market," Deputy Treasurer Eduardo S. Mendiola said.
[DatePublished] => 2004-09-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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[1] => Array
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[ArticleID] => 259222
[Title] => RP raises 350-M euros in bond offer
[Summary] => The government raised 350 million euros after reopening a eurobond facility due on Feb. 22, 2010, the Department of Finance (DOF) reported yesterday.
The latest move means the government has raised a total 650 million euros after the 300 million euros raised early last year, when the facility was first launched, the department added.
"The republic decided on the total amount, following receipt of orders in excess of 700 million euros within a 24-hour marketing period," it said.
[DatePublished] => 2004-07-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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[2] => Array
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[ArticleID] => 257494
[Title] => Congress urged to pass 3 tax bills
[Summary] => Finance Secretary Juanita Amatong asked Congress yesterday to pass three of the administration’s eight priority tax bills to enable the government to collect an estimated P60 billion within six months and avert a fiscal crisis.
During a dialogue with Liberal Party leaders, Amatong said the government should prevent the budget deficit from disintegrating into a fiscal crisis through improved tax collection.
[DatePublished] => 2004-07-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
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[3] => Array
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[ArticleID] => 245715
[Title] => Gov’t rules out more foreign borrowings till after polls
[Summary] => The Department of Finance (DOF) has ruled out the possibility of more borrowings from the foreign market until after the May elections, a top finance official said.
"Before the elections, I can safely rule out that we won’t be borrowing anymore from the international market," Finance Undersecretary Eric Recto said. "We’re comfortable now but of course we cannot predict what opportunities could arise. We will continue to borrow intelligently."
[DatePublished] => 2004-04-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
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[ArticleID] => 224156
[Title] => GSIS chief to be axed?
[Summary] => Is the president and general manager of the Government Service Insurance System (GSIS) on the way out?
Three names are being floated to replace Winston Garcia — Finance Undersecretary Eric Recto, Transportation and Communications Undersecretary Jose Cortez and IBC-13 executive vice president Evangeline Balbuena.
However, Presidential Spokesman Ignacio Bunye denied speculations that Garcia will be dismissed today.
"The President would like to find out the real score," he said.
[DatePublished] => 2003-10-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
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[5] => Array
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[ArticleID] => 221698
[Title] => Gov’t looking for developers of RP properties in Japan
[Summary] => The government is seeking more bidders to develop four idle properties in Tokyo and Kobe, Japan under a build-operate-transfer scheme, the Department of Finance said yesterday.
The DOF said its bids and awards committee (BAC) for Japan properties has already published the invitations to bid, and 13 prospective bidders have expressed interest with more anticipated to join in before the deadline on Sept. 30.
A preliminary conference for prospective applicants is scheduled today and the department is hopeful that bidding can be completed by this year.
[DatePublished] => 2003-09-23 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
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[6] => Array
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[ArticleID] => 217752
[Title] => Ignored debt continues to hound PNCC
[Summary] => Lawyers for the Philippine National Construction Corp. (PNCC) are trying to prevent the attachment of prime properties and tollway proceeds of the state-owned firm by raising laws on prescription for debts to cast doubts on a P13-million collection case.
Finance Undersecretary Eric Recto, chief of the Privatization Council which oversees the sale of government assets, has announced an indefinite stay on any auction of PNCC shares and properties.
[DatePublished] => 2003-08-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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[7] => Array
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[ArticleID] => 209615
[Title] => Marcos lots for sale: No takers
[Summary] => There were no bidders for three huge residential lots owned by the late dictator Ferdinand Marcos in Barangay Tambo, Parañaque in the public auction conducted yesterday by the Bureau of Internal Revenue (BIR).
[DatePublished] => 2003-06-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1620721
[AuthorName] => Nikko Dizon
[SectionName] => Metro
[SectionUrl] => metro
[URL] =>
)
[8] => Array
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[ArticleID] => 202061
[Title] => NDC to lease SLEX extension to PNCC
[Summary] => The National Development Co. (NDC) will lease the extended portion of the South Luzon Expressway (SLEX) to the Philippine National Construction Co. (PNCC), a deal that is expected to boost the latter’s shareholder value when it is privatized sometime this year.
The Department of Finance (DOF) said the plan is for NDC to issue bonds to finance the project and when completed, it will be leased to the PNCC.
[DatePublished] => 2003-04-09 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 201427
[Title] => Government sets June bidding for IS property in Makati
[Summary] => The Cabinet privatization committee has approved the privatization plan for the 4.5-hectare prime property now occupied by the International School in Makati and has set the bidding in mid-June.
During its Cabinet-level meeting on Wednesday night, the committee decided to sell the property on an "as-is-where-is" basis, disregarding the option to reclassify the property from "institutional" into "commercial."
[DatePublished] => 2003-04-04 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
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)
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