Sale of the century

Article Abstract:

The Subic Bay Metropolitan Authority is trying hard to attract private investment in the former US naval base. The base has already attracted a large volume of investment from Taiwan, which is looking to diversify its investments in the area. Additionally, the base does not suffer electricity shortages that are common to the Philippines. Richard Gordon, the authority's chairman, is trying to attract a combination of light industry and tourism. Critics charge that heavy industry will be needed to utilize the facilities and attract bank investments. Gordon refuses on environmental grounds.

Economic aspects, Subic Bay Naval Base, Philippines

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Duty-free duel: the Philippines' Subic economic zone faces setbacks

Article Abstract:

Actions by Philippines Pres Fidel Ramos and the Supreme Court have undermined the legal status of the Subic special economic zone and its chairman, Richard Gordon. Subic, a former US naval base, was promoted by Gordon to attract foreign investment as a duty-free port. However, Pres Ramos on Jun 11, 1993 deprived the zone of its duty-free status. Although Ramos rescinded his action on Jun 15, his interference cast doubt on the port's future. In addition, on Jun 22 the Supreme Court decreed that Gordon could not be both mayor of nearby Olongapo city and chairman of the Subic authority.

Management, Duty-free importation, Duty free importation

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Hoax of the century

Article Abstract:

The Busang gold mine hoax perpetrated by Bre-X, a Canadian mining firm, has the makings of a plot leaving miners and Bre-X partners disappointed. The hoax's economic implications has reached worldwide.

Cases, Mining industry, Gold industry, Fraud, Bre-X Minerals Ltd.

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