- The country's foreign direct investments (FDIs) totaled $US725 million in the first five months, 68.5 per cent lower compared to $US2.3 billion reported the same period last year, the Bangko Sentral ng Pilipinas (BSP) said yesterday.

- Food and beverage giant San Miguel Corporation reported that its consolidated net income tripled in the first half of 2008 to P19.7 billion from P6.6 billion in the same period last year on the back of huge asset sales.

- Vista Land & Lifescapes, Inc., the countrys largest homebuilder, reported a 25.5 per cent drop in consolidated net income in the first half of 2008 to P1.54 billion from P2.06 billion in the same period last year on account of one time gains recorded in 2007.

- The Chairman of The Coca-Cola Company, Mr. Neville Isdell, yesterday started his special return visit to the Philippines by announcing the launch of NutriJuice in the Philippines. The juice is designed to contribute to the eradication of anemia among Filipinos specifically among children of low income families. The fortified beverage was developed together with the Food and Nutrition Research Institute of the Department of Science and Technology (FNRI-DoST).

- The draft Rules issued by the Energy Regulatory Commission (ERC) prescribed that the interim open access will not be able to commence until after the transfer of the 600-megawatt Calaca coal-fired plant to its buyer, Suez Energy.

- The Mangyans an indigenous tribe native to Mindoro are now in the final stages of formalizing a memorandum of agreement that would allow a mining company to explore for nickel in their ancestral lands.

- Product quality and aesthetics are essential in attracting consumers to purchase products. Another crucial component in enticing customers, though, is how products are arranged and displayed in the stores. And this is what Target Display, Inc. brings to every retailer. The company services the retailers by helping them realize the look and feel that they want.

MANILA TIMES:

- Profit of San Miguel Corp. nearly tripled in first half of the year propped up by income of its beer and food operations, Southeast Asias biggest food and beverage company disclosed to the Philippine Stock Exchange. The company said its net income reached P19.7 billion in the first semester as its total revenues went up by 9 per cent to P79.8 billion after businesses led by its beer subsidiary registered steady volume and revenue growth.

- The government is set to file charges against Unioil Petroleum Philippines and Oilink International Corp. for illegally transporting petroleum products, the Department of Energy said in a statement.

- Penalties imposed on the Philippine government by foreign donors for failing to disburse available aid increased by a fourth last year, the National Economic and Development Authority said.

- The government will sell 10-year financial stability bonds next month for the recapitalization program of the Bangko Sentral ng Pilipinas, Roberto Tan, Treasury chief, said.

- Water utility Maynilad Water Services Inc. has signed IOUs with BDO Capital & Investment Corp. and the Development Bank of the Philippines to fund its five-year water service improvement plan.

- Medium-sized commercial bank Security Bank Corp. posted lower net income in the first half of the year due to increasing interest rates and lower bond prices brought by high inflation environment.

- Food and beverage firm RFM Corp. said Tuesday its net income grew in the first semester of the year as a result of better plant efficiencies and cost-reduction programs.

- The listed holding firm of the Villar group announced on Tuesday that its profits for the first six months fell by a quarter due to higher operating expenses and real estate sales cost.

- More than 60 per cent of company executives in the offshoring and outsourcing (O&O) industry are actively considering some form of equity funding to support their expansion plans, according to results of a survey conducted by Outsource2Philippines (O2P).