UBS Investment Research managing director Paul Donovan says that despite good fundamentals, the Philippine economy—specifi cally, the exports sector— could be hurt by a slowing US economy. --Nonie Reyes

DESPITE having sound fundamentals, the Philippines should still watch out as the United States, its major importer, is hit by dampened consumer spending.

THE country’s gross international reserves, seen to end the year at some $24 billion, pushed past the full- year target well in advance and totaled $24.37 billion as at end-February.

GOVERNMENT think tank Philippine Institute for Development Studies (PIDS) is looking at a 5.8-percent gross domestic product growth this year despite a slowdown in manufacturing, thanks to a revived construction sector and a sustained surge in services.

THE Department of Environment and Natural Resources (DENR) has drafted a proclamation to declare the La Mesa watershed as a watershed reservation, which would effectively prohibit or control human activities in the area.

THE Department of Energy said on Wednesday that five petroleum service contractors have committed to spend at least $116 million for the drilling of at least six exploration wells in Palawan, Cebu, Ragay Gulf, Mindoro, and the East Visayan Basin this year.

AGAINST all odds, Filipino women are braving the challenges, risks, and fear of going into business, according to a report of the Babson College Center for Women’s Leadership.

WASHINGTON has criticized its ally, the Arroyo administration, for the prevailing culture of impunity where numerous cases of extrajudicial killings that involve political activists and journalists remain unsolved.

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‘MM is sinking’ advocacy bags PR excellence plum Manila Water Co. won an Anvil Award of Excellence, the “Oscar” of the local public relations industry, for its marketing advocacy to protect Metro Manila’s critically endangered groundwater resources. “Tribute to Guardians of the Environment” is a multisectoral campaign between the Ayala-led water concessionaire, the Department of Environment and Natural Resources (DENR), the National Water Resources Board (NWRB) and Metro Manila’s Local Government Units, to single out companies and subdivisions that use surface water supply and resist environmentally damaging options like deep wells. Manila Water’s Anvil Award was aceepted by Manila Water’s Millet Liberato, key accounts manager (middle), and Antonino T. Aquino, president (extreme right), respectively. Looking on (from left): Undersecretary Juris Soliman of the Offi ce of the President; Walter Tendencia, water supply manager of Manila Water; Eduardo Alcaraz, vice president of Public Relations Society of the Philippines (PRSP); Jan Joseph Sta. Barbara, territory business manager of Manila Water; and Dr. Elena E. Pernia, dean of the UP College of Mass Communications.