Hong Kong Telecommunications Ltd will cut about 1,000 jobs by September, the Wen Wei Po newspaper said on Saturday. The 13,000-strong firm, one of Hong Kong's biggest employers, would ask "several hundred" employees to leave voluntarily and lay off underperforming staff, the newspaper quoted unidentified sources as saying.

Philippine budget deficit seen at 100 bn pesos:
The Philippine budget deficit may reach a high of 100 billion pesos ($2.4 billion) within the next six months, economic planning secretary Felipe Medalla said on Saturday. Medalla said in a statement that the poor collection efforts of the Bureau of Internal Revenue and the Bureau of Customs would contribute to the shortfall.

Illegal Viagra finds its way to Sri Lanka:
The blockbuster impotence pill Viagra is available illegally in tiny Sri Lanka for those willing to pay the high price, a newspaper reported on Saturday. The independent Island said a Viagra pill wasavailable in the black market for as much as Rs 1,300 ($19.80), nearly double its US retail price of $10.

Ford agrees to rules for "Focus" name in Germany:
Ford Motor Corp's German unit has reached an agreement with a magazine publisher that clears the way for the car company to use the name "Focus" for a new model that will replace its Escort series. Burda Holding, which publishes a weekly news magazine called Focus, agreed to allow Ford-Werke AG limited use of the name in Germany.

Telecom Italia announces call charges:
Telecom Italia, responding to liberalisation of the European telecommunications sector, has announced the prices it intends to charge other operators for access to its network. In a statement issued late on Friday, Telecom Italia said it would charge 23.3 lire per minute for local calls at peak times and 14.5 lire per minute off-peak.