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Tuesday, June 19, 2007 |
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Peso rises back to the 45-to-a-dollar
level
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Dollar surplus in
May exceeds BSP ‘07 target |
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By Maricel E. Burgonio, Reporter
STRONG overseas Filipino worker (OFW)
remittances and foreign investments in the local stock market and
other peso-denominated financial assets allowed the country to
exceed the Bangko Sentral ng Pilipinas’ (BSP) dollar surplus
forecast for this year seven months ahead of schedule.
BSP Governor Amando M. Tetangco
Jr. said the country’s balance of payments (BOP) surplus reached
$2.365 billion at end-May, surpassing the central bank’s forecast
of a full-year $2-billion surplus as well as last year’s
five-month surplus of $1.808 billion.
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RP share prices
surge to new record high
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Philippine share prices closed
higher at a fresh record Monday following another rally on Wall
Street last Friday, though profit-taking trimmed early gains,
dealers said.
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Consumers rack up
auto loans, credit-card use
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CONSUMERS are racking up their
credit-card bills and taking out more loans to buy cars, according
to first-quarter data released by the Bangko Sentral ng Pilipinas (BSP).
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Carmakers seek tax
incentives
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THE Chamber of Automotive
Manufacturers of the Philippines (Campi) is in talks with the
government for possible tax holidays to bring down the cost of
vehicles and allow the group’s members to expand their market...
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Jollibee buys out
partner in China, uses own money
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JOLLIBEE Foods Corp. (JFC)
announced on Monday that it bought out its China-based partner,
making it the sole owner of the Yonghe King business.
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PLDT set to offer
mobile TV this year
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PHILIPPINE Long Distance
Telephone Co. (PLDT) said it will offer mobile television services
on a commercial basis by the second half of the year.
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Public-sector
deficit seen lower next year
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The government expects a much
lower consolidated public-sector deficit (CPSD) next year with
substantial improvement in the public sector fiscal position and
better financial management...
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Top Chinese
shipbuilder firms up RP hub plans
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CHINA Ocean Shipping Co. (Cosco),
one of the world’s top shipping firms, wants to put up an
integrated logistics and shipping hub in the Philippines, Wei Jiafu,
Cosco group chief executive officer said on Monday.
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Alliance Global to
acquire, create new beverage, food products
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ALLIANCE Global Group Inc. (AGI),
the holding company of tycoon Andrew Tan, said it is eyeing possible
acquisitions and the creation of new food and beverage products to
fexpand the company’s portfolio.
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BIZZFIZZ
By Rene Martel
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Candy bar chic
for Samsung
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SLIMMER and slimmer get
Samsung’s stylish Ultra Edition series of mobile phones. So much
so that if you had one in your pocket you might well be inclined to
pull it out and give it a bite, thinking it was a candy bar!
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