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Friday, August 10, 2007 |
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Gains due to peso, sale of Del Monte stake |
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San Miguel profit
almost
doubles in first six months |
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By Likha C. Cuevas-Miel Reporter
SOUTHEAST Asia’s biggest food
and beverage company said Thursday that its first-half profit almost
doubled as the income of its beer and food operations rose while
financing charges eased.
In a statement, San Miguel Corp.
said its net income reached P7.88 billion in the first six months of
the year, as consolidated sales revenues grew by 9 percent to P112.7
billion over the same period.
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Surging money
supply still a risk to inflation, says BSP
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THE Bangko Sentral ng Pilipinas (BSP)
will keep its special deposit account (SDA) open to government
financial institutions and bank trust departments, as it expects the
country’s money supply to continue growing...
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Yamaha Motors to
build new RP facility
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TOKYO: Japan’s Yamaha Motor
announced plans Thursday to build a new motorcycle factory in the
Philippines that will start operating in 2009 to meet rising sales
there.
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Auto assemblers
aim for P100-B industry
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THE local car assembly business
is likely to become a P100-billion industry in three years’ time
so long as its market expansion program (MEP) is in place, according
to the Chamber of Automotive Manufacturers...
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Biofuel seen to
raise food prices
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THE Asian Development Bank (ADB)
on Thursday warned that the rising demand for biofuels in countries
like the Philippines would lead to higher food prices.
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World Bank set to
raise funds through sale of peso IOUs
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THE World Bank plans to borrow
money through the sale of peso-denominated bonds or IOUs, according
to a Department of Finance official.
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C2 maker’s net
income triples
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THE maker of the popular C2 tea
drink and Jack ’n Jill snack foods said net income in the first
six months of the year tripled due to the sale of the company’s
stake in a sister property developer...
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ATI still keen on
North Harbor bid
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ASIAN Terminal, Inc. will still
bid for North Harbor, its top executive confirmed to The Manila
Times.
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US should consider
gas tax, says Ford exec
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TRAVERSE CITY, Michigan: The
United States should consider implementing a European-style gasoline
tax if it hopes to deal with energy security and global warming, the
head of Ford Motor Co. said Wednesday.
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China unlikely to
sell off dollar
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BEIJING: China will not sell off
its US dollar assets as long as there is no major disagreement with
the United States, a researcher at a top government think tank said
Thursday.
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Thai confidence
dips to fresh low
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BANGKOK: Thailand’s consumer
confidence fell to a new five-year low in July amid concern over
high oil prices and pressure on exports as the baht held firm
against the dollar, researchers said Thursday.
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IT firm warns of
new ‘pump-and-dump’ spam scam
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PARIS: Spammers have unleashed
one of the biggest online stock manipulation campaigns in history in
the last 24 hours, increasing global spam levels by 30 percent, a
leading IT security company claimed Wednesday.
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