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Thursday, April 26, 2007 |
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Purchase belies
claims of ample fuel supply
Napocor buys more pricey coal in May |
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By Euan Paulo C. Añonuevo, Reporter
STATE-OWNED National Power Corp.
(Napocor) awarded several coal procurement contracts, one of them at
a steep price, from March to April this year, despite earlier claims
it had secured its stocks last December.
Napocor had awarded a coal
contract for five shipments at $84 per metric ton in early April to
Australian firm Hunter Valley Coal Corp. Pty Ltd. through its local
partner Glencore Far East, according to an industry source.
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Increase in air
and shipping costs seen
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AIR and shipping costs are poised
to rise in the coming months, with foreign carriers seeking another
increase in fuel surcharge and state-run Maritime Industry Authority
(Marina) imposing a new fee on fleets.
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Factory output
dips sharply in Jan.
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MANUFACTURING output in February
dropped sharply as more sectors reduced production according to the
National Statistics Office (NSO).
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Imports continue
rebound in Feb.
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PHILIPPINE imports continued to
rebound in February owing to strong electronics purchases from
abroad, signaling higher domestic output ahead, the government said
Wednesday.
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SM to
place property firms under SM Land
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SM Investment Corp. (SMIC), the
holding company of mall tycoon Henry Sy, will consolidate all its
property companies under one umbrella to create a more efficient and
recognizable brand for easy recall of investors.
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Banking
industry’s net income up in 2006
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The net income of the Philippine
banking industry went up last year despite lower interest rates and
the slowdown of banks’ investment activities, Bangko Sentral ng
Pilipinas said Wednesday.
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Chinese investors
to put up manufacturing facilities in RP
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Chinese investors will put up
manufacturing facilities for light-item industries in the
Philippines and are scouting for the right location, Department of
Trade top official said Wednesday.
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Meralco turns
around, posts profit in first Q
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MANILA Electric Co. (Meralco)
registered more than half a billion pesos in profits in the first
quarter as the Philippines’ biggest distribution utility said
finances continue to benefit from huge reserves the company...
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Smart soon to
offer subscribers faster way of texting, calling
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SMART Communications Inc. may
soon offer a service that will allow its subscribers to choose
alpha-numeric codes as their contact numbers.
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BPI launches
investment product for OFWs, high networth Pinoys
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BANK of the Philippine Islands
(BPI) is expanding its investment offering to the public by
introducing the first dollar-denominated bond index fund.
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Power firms set
to raise capital
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FOUR Philippine-based power
companies plan to raise capital in the next few years in response to
expectations of rising demand for alternative energy sources, a
consultancy firm said.
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Shares close
higher on blue-chips’ gains
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PHILIPPINE share prices closed
higher on Wednesday due to sharp gains among blue chips, dealers
said.
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ATR KimEng unit
to sell basket of RP stocks in Japan
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A UNIT of ATR KimEng Financial
Corp. announced that it signed an agreement to act as the investment
manager for a Philippine fund that would sell exclusively in Japan.
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BIZZFIZZ
By Rene Martel
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The heatwave and
the big freeze
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WHILE the above headline may
appear contradictory in terms, in a curious kind of way it just
about sums up the manner in which the power-sector bureaucrats have
been caught with their pants down...
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