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Wednesday, February 21, 2007 |
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Govt unveils plan
for higher GDP |
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By Maricel E. Burgonio and Angelo
S. Samonte, Reporters
The Arroyo administration has
unveiled a new growth strategy to achieve a three-year surge in
gross domestic product, following years of efforts to balance the
Philippines’s economic fundamentals.
Joey Salceda, newly appointed
chief of staff of President Arroyo, said in a presentation with
reporters the government is optimistic about its Plan 789 , which
aims for higher Philippine gross domestic product (GDP): 7 percent
in 2007, 8 percent ion 2008 and 9 percent in 2009.
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Stronger peso seen
to fuel stronger BOP
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Peso is expected to continue its
strength and fuel stronger balance of payments (BOP) surplus in 2007
and 2008, Bangko Sentral ng Pilipinas said.
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PEZA locators
bring in new investments
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The Philippine Economic Zone
Authority has approved close to P6-billion worth of additional
investments in the second week of February.
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Govt to sell
stakes in SMC, Meralco
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The government aims to sell its
stake in food and beverage giant San Miguel Corp. and in the
Lopez-controlled Manila Electric Co. by the second half of this
year, the Department of Finance said on Tuesday.
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PLDT increases
capex to finance expansion
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The Philippine Long Distance
Telephone Co. has increased its capital expenditure this year to
finance broadband and next generation network expansion, the company
president said Tuesday.
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Marubeni, Tepco
assure upgrade of Pagbilao plant
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The consortium of Marubeni Corp.
and Tokyo Electric Power Co. (Tepco) has assured the expansion of
the Pagbilao coal-fired power plant once the transaction for the
sale of Mirant’s assets is completed.
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