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Tuesday, October 02, 2007 |
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Stocks seen to rise further |
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Peso touches 44 to the dollar on hot money
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The peso opened a new trading week back to
44-to-the-dollar level, propped up by strong inflows of foreign
portfolio investments into the local stock market, which likewise
resumed its climb on expectations the Bangko Sentral ng Pilipinas (BSP)
later this week will cut its key overnight interest rate and pull
down overall borrowing costs.
At the Philippine Dealing System, the local
currency on Monday opened at 44.90 against the greenback, traded
between 44.845 and 44.93, before closing at 44.85, or 55 centavos
stronger than the closing price last Friday.
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RP, Singapore in talks for more Clark flights
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THE Philippine air panel will fly to Singapore this week to meet
with its counterpart to negotiate for a new air services agreement,
the Civil Aeronautics Board (CAB) said Monday.
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Ayala Corp.poised to resume borrowing
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AYALA Corp. told the Philippine Stock Exchange on Monday it will
resume borrowing through the sale of bonds or IOUs to the local
market.
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Consumer, government spending to lift growth in
third-quarter
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HIGHER consumer and government spending will boost the Philippine
economy in the third quarter, according to the National Economic and
Development Authority (NEDA).
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Trade dept pursues lobby for Jpepa anew
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AMID opposition at the Senate, the Department of Trade and Industry
on Monday resumed its lobby for the passage of the Japan-Philippines
Economic Partnership Agreement (Jpepa), with senior trade officials
briefing members of the press on the benefits of ratifying the
accord.
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First Gen’s share buy-back seen to boost stock
price
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FIRST Gen Power Corp. has commenced with a
two-year buy-back of its shares, aimed at enhancing boosting the
value of its stock to existing shareholders.
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Masinloc plant owner to trade at energy bourse
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Singapore-based AES Transpower Pte. Ltd., which earlier won the
bidding for state-owned National Power Corp.’s (Napocor) Masinloc
coal-fired power plant, is set to participate in the Wholesale
Electricity Spot Market (WESM).
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Cathay Land to invest in themed property complex
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CATHAY Land, Inc., is set to invest in a themed high-end residential
and commercial complex in Santa Rosa, Laguna.
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NFA to import more corn this month
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State-run National Food Authority (NFA) will buy additional corn
stocks this month, after an inter-agency body endorsed the grains
purchase.
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Govt eyes higher consumption of veggies
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The Bureau of Plant Industry (BPI) is eyeing a doubling of
Filipinos’ vegetable consumption in the next three years.
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Outlook on Metrobank bond sale stable, says
Moody’s
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METROPOLITAN Bank and Trust Co. has received a below-investment
grade rating from Moody’s Investors Service for the Philippine
lender’s planned borrowing through the sale of so-called
subordinated notes.
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BIZZFIZZ
By Rene Martel
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The antismuggling czar of the Philippines
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IN the days when Undersecretary Antonio “Bebot” Villar Jr.—the
incumbent head of the Presidential Anti-Smuggling Group—was a
virtual fixture as a hard working and productive mayor of Sto. Tomas
in Pangasinan...
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