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Friday, April 13, 2007 |
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Huge hot money
inflow
in March boosts stock market |
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By Maricel E. Burgonio, Reporter
Net foreign portfolio investments
rose to significant levels in end-March 2007 with the bulk of the
money going into the Philippine stock market, Bangko Sentral ng
Pilipinas said on Thursday.
BSP Governor Amando M. Tetangco
Jr., said net portfolio investment inflows grew 71 percent on year
to $838 million in January to March this year from $490 million in
the same period last year.
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Commercial
vehicles lead first-quarter jump in total industry sales
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The car market perked up in the
first quarter with the industry reporting more units sold this year
than it registered in the same period in 2006, the Chamber of
Automotive and Manufacturers of the Philippines, Inc. ..
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SMC posts
double-digit net income in 2006
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San Miguel Corp. posted
double-digit profit growth in 2006 because of strong overseas sales
and effective cost-control measures.
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FCDU loans decline
on high loan repayments
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Outstanding loans granted by
foreign currency deposit units (FCDUs) of banks went down in 2006 as
total loan repayments outpaced new loans.
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ABS-CBN poised to
reach billion-peso profit in 2007
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ABS-CBN Broadcasting Corp. sees
its net profit reaching the billion-peso mark this year as its net
income more than doubled in 2006.
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SSS overwhelmed by
back-payment collection
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The Social Security System said
it has collected P1.7 billion in back payments from more than
500,000 accounts since the implementation of the amnesty program in
2004.
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NCR tops property
tax earners from 2003 to 2005
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The National Capital Region was
the biggest contributor to total property tax revenues of local
government units from 2003 to 2005, according to a study by the
National Tax Research Center.
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Manila Water
suffers decline in net income at end of ITH
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With the expiration of its income
tax holiday, Manila Water Co., Inc. posted a double-digit decrease
in net income in the first quarter of the year as compared to a year
ago.
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Pacific Online
share price surges at first trading
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SHARE price of Pacific Online
Systems, the lottery systems and terminal supplier of the Philippine
Charity Sweepstakes Office, surged nearly half on its first day of
trading Thursday as it plans to rollout new lottery game.
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Preneed sales
decline further in Feb.
as pension plans suffer major slump
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PRENEED sales continued to
decline in February as the industry’s major product suffered a
slump, according to the Security and Exchange Commission report.
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Canon sees rise
in color copier use
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CANON Marketing Philippines, Inc.
eyes significant growth in large-format printer industry this year
amid the rising demand for color copier machines.
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DTI to find ways
to mitigate negative
effects of strong peso on exporters
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The Department of Trade and
Industry is set to study ways of cushioning the negative effects of
the strengthening foreign exchange on exporters, Trade Secretary
Peter B. Favila said Thursday.
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