Philippine Weekly Update

Is a 4-page report e-mailed or faxed to members every Monday morning.
The PWU covers all the key issues of the previous week, plus any recently released economic indicators. With the rapid changes that are occurring the PWU helps to bring it all  into focus and to alert you to events and issues that chief executives should be aware of.

VOLUME I, NO. 33 Aug. 23 - 29, 2010

• Bloody end to hostage-crisis...

• Growth of 7.9% in 2Q

• Competitiveness still a concern for SMEs

• Sharp slowdown for imports - 1.4% increase in June

• Gov't to set up $10Bn infrastructure fund

• P1.6Tn budget for 2011 submitted to Congress

CORPORATE BRIEFS

San Miguel Brewery Inc. (SMB) has retained the PRS Aaa credit rating from Philippine Rating Services Corp. for its outstanding P38.8-billion bond issue...PhilRatings explained that obligations rated PRS Aaa are of the highest quality, with minimal credit risk, as the issuer’s capacity to meet its financial commitment on the obligation is extremely strong...Series A of the bonds, amounting to P13.59 billion, will mature in 2012 while Series B, amounting to P22.4 billion, will mature in 2014. Series C (amounting to P2.81 billion) will mature in 2019...

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