MANILA – The United Coconut Planters Bank board, in a special meeting yesterday, voted for the extension of the bank's life by another 50 years to allow it to pursue its pioneering efforts in the banking industry and its key role in countryside development.

The extension of the bank's corporate life allows the bank to continue its profitability as it sets its sights on its performance for 2012, primarily by creating more technology-driven products and expanding its loan portfolio, remittance business, fee income and branch network.

"With the extension of the bank’s corporate existence now a certainty, it can sustain its growth momentum towards becoming a bigger and stronger financial institution," UCPB president and chief executive Jeronimo Kilayko said.

NEDA sees 5.5% GDP in Q1

MANILA – The Philippine economy is projected to grow 5.5 percent in the first quarter of this year on higher government spending, according to the National Economic and Development Authority.

"The leading indicators look good," Socioeconomic Planning Secretary Cayetano Paderanga said at the sidelines of the 45th Annual Meeting of the Board of Governments of the Asian Development Bank.

Data from the National Statistical Coordination Board show that the leading economic indicator in the first quarter of 2012 posted 0.238 from a revised 0.158 in the fourth quarter of 2011.

More Bacolod meat vendors
following abattoir ordinance

The Task Force Botagoy of the Bacolod City governmenthad zero apprehension for the sale of hot meat in three satellite and talipapa markets in the city in the past three months, Rex Juplo, acting city veterinary officer, said yesterday.

Juplo said this means many of the meat vendors in Bacolod are now observing City Ordinance 459 that prohibits the sale and distribution of meat not processed at the new slaughter house in Brgy. Handumanan.

This also means that they now sell meat with the proper label and branding and from animals slaughtered in the new site, he added.

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