filipino globe national
April 2008
11
Peso seen
PAL launches budget unit for domestic services
Philippine Airlines has announced Rival Cebu PAL’s new unit will primarily fly
the creation of a budget unit to Pacific earlier intra-regional routes in Visayas and
slipping to
meet a growing demand for low- announced that it Mindanao from its Cebu hub, as
cost travel. had overtaken PAL well as secondary routes to smaller
PAL president Jaime Bautista as the number one airports in island provinces that the
(right), said the company will domestic carrier, airline’s regular jet aircraft cannot
operate a fleet of turbo-propeller having flown 4.45 accommodate.
aircraft to service domestic routes. million passengers PAL is offering promotional fares
P43 against
Bautista said the new operation last year. This compared with the as low as P88, excluding taxes
complements the governments’ flag carrier’s 4.03 million. and charges, for one-way flights
efforts to “promote trade and Data from the Civil Aeronautics between Cebu and Bacolod,
tourism, particularly to our many Board showed the number of Caticlan, Tacloban, Butuan and
islands, thus providing a much- domestic passengers last year rose General Santos.
needed lift to the economy of these 22.7 per cent to 10.38 million from The new operation, called Pal
dollar soon
communities.” 8.46 million passengers in 2006. Express starts on May 5.
Planned infrastructure spending
to exert pressure on currency
The peso is likely to fall this year
on expectations that the government
would be unable to generate more
revenue to meet its planned spending
boost, according to Standard Char-
tered Bank.
In a briefing, Eugene Ellis, SCB
chief executive, said the local cur-
rency would slide to 43 to US$1 by
year-end
“The government has benign spend-
ing in infrastructure. They should
spend for infrastructure on a long-
inflation. The BSP maintained its key
term basis,” Ellis said.
policy rated at 5 per cent and 7 per
“We think there should be an in-
cent for the overnight borrowing and
creased spending by the government,”
lending windows last month, breaking
he added.
off from the reductions pursued by its
The government earlier said it plans
US counterpart, the Federal Reserve.
to pump-prime the economy to coun-
The Fed has been slashing its funds
teract the impact of a slowdown in the
rate to supply the world’s largest
US, country’s biggest export market.
economy with ample liquidity amid a
At the same time, the Philippines
credit crunch arising from a crisis in
wants to balance its budget this year.
its subprime mortgage market.
Last February, the government in-
“The expected US Fed cut of 25
curred a P19 billion fiscal deficit, a
basis points will be matched by the
reversal from the P11.1 billion sur-
BSP,” Ellis said.
plus a year ago.
The BSP is set to meet on monetary
The deficit that month caused the
policy on April 24. Inflation rose to
government’s funding shortfall to
a 20-month high of 6.4 percent in
widen to P32.9 billion in the first two
March from 5.4 per cent in February
months this year from P18.6 billion in
driven by high prices of fuel and food
the same period last year.
imports.
Ellis also said the Bangko Sentral
Rising inflation has been a negative
ng Pilipinas is likely to resume cuts
for the peso, which closed slightly
in its overnight borrowing rate within
weaker on Wednesday at 41.885 from
the quarter despite the rise in domestic
Tuesday’s 41.845.
IBANGBALITA
NI-RAPE NG KAINUMAN
kanyang abogado sa Ermita,
Isang separadang ginang ang
Maynila.
nagreklamo sa pulisya matapos
Hindi na naisalba ng mga
na umano’y gahasain siya ng
doktor sa Philippine General
dalawang kakilalang lalaki na
Hospital ang biktimang si Carlos
kanyang kainuman kahapon ng
Patrick Jocson, 42, ng 1804 J
madaling-araw sa Navotas City.
Nakpil corner Leon Guinto St,
Pormal na dumulog sa
Ermita dahil sa mga tama ng
pulisya ang biktimang itinago sa
baril sa kanyang likuran.
pangalang Yolanda, 39.
Nakatakdang dumalo sa
Naaresto naman ang isa sa
kanyang hearing sa Manila
dalawang suspek na si Marlon
RTC ang biktima para sa
Manglicmot, 21, ng P De Asis
kasong bigamy at annulment na
St, barangay San Roque,
isinampa nito sa kanyang misis
Navotas habang nakatakas at
na si Carina Malibong.
pinaghahanap ang isa pang
suspek na si Boy Manaclay.
BINOGA NG NPA
Ayon sa biktima, alas-
Utas ang 45-anyos na
kuwatro ng madaling-araw
magsasaka matapos na
nang pagsamantalahan umano
umano’y dukutin at bistayin ng
siya ng mga suspek sa isang
bala ng hinihinalang miyembro
bakanteng bahay sa Daungan,
ng liquidation squad ng New
Tabing Ilog.
People’s Army sa probinsya ng
Masbate.
MISIS, MINAMATYAGAN
Namatay noon din si Ariel
Nakasentro ang imbestigasyon
Llanto, taga-Sitio San Roque,
ng Manila Police District-
barangay Rizal, Monreal sanhi
Homicide Section sa misis ng
ng naglagos na walong tingga sa
isang negosyanteng pinagbabaril
iba’t ibang bahagi ng katawan.
kahapon ng umaga habang
Pinaghihinalaang niresbakan
naglalakad para mag-almusal
ng NPA ang biktima sa hinalang
sa isang restaurant kasama ang
espiya ito ng militar.
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