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Monday, March 26, 2007 |
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Growth trajectory in
doubt |
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By Maricel E. Burgonio, Reporter
The Development and Budget
Coordinating Committee (DBCC) doubts whether the economy could meet
the growth targets set out in the Medium-Term Philippine Development
Plan (MTPDP) due the higher oil prices.
Data from the interagency body
that sets the country’s macroeconomic goals showed that the
country’s gross domestic product (GDP), which is the amount of
goods and services produced locally, is likely to expand by between
5.8 percent and 6.6 percent next year. This is slower than the
medium-term plan target of between 6.8 percent and 7.8 percent.
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Philippine use of
donor aid improves
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The Philippines’ disbursement
of official development assistance (ODA) improved last year as the
government addressed project implementation bottlenecks, the
National Economic and Development Authority (NEDA) said.
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Increase in
taxpayers expected this year
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The Bureau of Internal Revenue
sees an increase in the number of individual and corporate taxpayers
this year, as well as in potential collections.
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Govt relaxes auto
export rules to help Ford
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The Board of Investments is
relaxing several criteria for participants in the government’s
Automotive Export Program (AEP) to prop up sales.
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Aboitiz unit
defers cold-chain facility
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2GO, the freight arm of the
Aboitiz group of companies, has put off the establishment of a
cold-chain facility to focus on its supply-chain business, a company
executive said.
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American dream
becoming nightmare
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WASHINGTON: The dream of home
ownership could turn into a living nightmare for millions of
Americans in the next couple of years as home foreclosures are
expected to skyrocket.
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Metrobank to
expand Japanese business
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METROPOLITAN Bank & Trust Co.
(Metrobank), the Philippines’ largest lender, plans to expand its
services for Japanese companies doing business in the country.
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Philcomsat seeks
relief from NTC fees
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PHILIPPINE Communications
Satellite Corp. (Philcomsat) has asked the National
Telecommunications Commission (NTC) to free the company from the
burden of paying regulatory fees due to its financial difficulties.
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ATR KingEng files
new lawsuit against LBC officials over property
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ATR KimEng Financial Corp. said
it has filed another lawsuit in California against an official of
LBC Holdings and the majority owner’s daughter over an allegedly
fraudulent property sale.
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Ayala Land to
establish science museum
to complete ‘great city’ concept at Bonifacio
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AYALA Land Inc. (ALI), the
Philippines’ biggest real estate developer, said it plans to put
up a science museum in the newly opened Bonifacio High Street in
Bonifacio Global City, Taguig.
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MANAGING FOR SOCIETY
By Wilfredo
A. Baltazar
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Corporate
governance and financial reporting
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An important function that
corporate governance performs is ensuring the quality of the
financial reporting process. Financial reporting is crucial for the
corporate governance system to function effectively.
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