TODAY'S BUSINESS HEADLINES

IMF sees cheap-oil dividend, fiscal spending propping up Philippine economy 9:52 am | InterAksyon.com Uneven recovery in major trading partners is seen to cap exports growth.

Greece and creditors play down fears of imminent default Greece and creditors play down fears of imminent default 9:45 am | Reuters Running short of cash to pay salaries, pensions and debt obligations, Prime Minister Alexis Tsipras's government said Greece does not have the money to pay…

Takata faces questions over air bag fix as recalls expand Takata faces questions over air bag fix as recalls expand 9:37 am | Reuters Takata, 11 automakers that used its air bag technology and U.S. safety regulators are pursuing separate efforts to determine the root cause of problems linked…

Wall St. drops on rate concerns, Greece Wall St. drops on rate concerns, Greece 9:11 am | Reuters Reports on Tuesday showed U.S. business investment spending plans increased solidly in April, consumer confidence perked up this month and house prices extended gains in…

No to privatization of Agus-Pulangi Hydro Complex - Misamis Oriental board members No to privatization of Agus-Pulangi Hydro Complex - Misamis Oriental board members 7:19 am | Philippines News Agency The provincial board of Misamis Oriental has passed a resolution opposing the privatization of the Agus-Pulangi Hydropower complex in Bukidnon.

Prices of commercial rice continue downward trend – NFA Prices of commercial rice continue downward trend – NFA 5:35 am | Cielito M. Reganit, Philippine News Agency Prices of commercial rice were monitored to be decreasing even in drought-hit areas contrary to reports that rice prices have gone up in the said…

Ayala Land to launch a fifth mid-market subdivision in Nuvali Ayala Land to launch a fifth mid-market subdivision in Nuvali 11:10 pm | Cassandra Lee, InterAksyon.com The company is spending P2.3 billion on the first two phases of the Mondia.

S&P expects PLDT to spend P20 billion for acquisitions through 2016 10:05 pm | Cassandra Lee, InterAksyon.com S&P expects PLDT to spend P20 billion for acquisitions through 2016S&P affirmed its investment grade rating on the telco.

Philippines' biggest business groups unveil wishlist for President's last year in office 8:10 pm | Chelsea Cruz, InterAksyon.com Philippines\The wishlist include administrative measures and legislation the business groups want the President to certify as urgent.

First Metro says 6.5-7 pct first-quarter growth likely for Philippine economy 2:59 pm | InterAksyon.com First Metro says 6.5-7 pct first-quarter growth likely for Philippine economyFMIC is also keeping its 8,300-8,500 forecast for PSEi by yearend despite recent drop.

Metro Pacific tops bidding for Cavite Laguna Expressway PPP 2:44 pm | Cassandra Lee, InterAksyon.com Metro Pacific tops bidding for Cavite Laguna Expressway PPP(UPDATED 2:56 p.m.) Metro Pacific's MPCALA trumps San Miguel's OIDI.

Philippine stock index slips below 7,700, pares down loss at the close 12:26 pm | InterAksyon.com Philippine stock index slips below 7,700, pares down loss at the close(UPDATED 5:10 p.m.) Decliners outnumbered advancers, 161 to 31.

OPINION | APEC's epic fail: Philippine underdevelopment 12:19 pm | Sonny Africa, executive director IBON OPINION | APEC\APEC is unabashed in pushing for neoliberal policies, which have been the biggest reason for the exclusion and worsening of conditions for so many in the Philippines, Asia-Pacific, and the rest of the world in the last decades.

Philippines' first-quarter imports slump on weak oil prices 11:52 am | InterAksyon.com Philippines\With drop in imports, Philippines' balance of trade-in-goods swung to a surplus.

Japan to bankroll repair of farm-to-market roads in Bangsamoro areas 11:30 am | Rain Castro, InterAksyon.com Japan to bankroll repair of farm-to-market roads in Bangsamoro areasThe grant is worth P500 million.

Oil prices steady but indications rally running out of steam 11:13 am | Reuters Oil prices steady but indications rally running out of steamAnalysts said that big price spikes away from current levels were unlikely.

Asian shares slip, dollar stands tall 10:49 am | Reuters Asian shares slip, dollar stands tallMSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trade.

ABS-CBN's Sky Cable venturing into satellite TV service 10:26 am | Cassandra Lee, InterAksyon.com ABS-CBN\Sky Cable's entry pits it against 3 players.

Davao Port PPP project attracts 5 potential bidders 11:31 pm | Cassandra Lee, InterAksyon.com Davao Port PPP project attracts 5 potential biddersThe five include 3 foreign firms and 2 locals.

Ayala-Metro Pacific tandem pushes back new ticket rollout for LRT2 10:23 pm | Cassandra Lee, InterAksyon.com Ayala-Metro Pacific tandem pushes back new ticket rollout for LRT2The consortium was supposed to put in place the new ticket scheme at the LRT2 this month.

Oil prices edge up on firm Asian, U.S. demand 5:00 pm | Reuters Oil prices edge up on firm Asian, U.S. demandAnalysts said that steeper increases in oil prices were prevented by weak overall fundamentals.

Gov't completes report on who to blame for record spike in power rates during Malampaya shutdown 4:08 pm | Michelle Orosa-Ople, News5 Gov\The ERC is reviewing the report before making it public.

Toyota Tosho buying into Alsons' Zamboanga coal plant 2:30 pm | Philippines News Agency Toyota Tosho buying into Alsons\The Japanese firm may take a 25 percent stake.