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Thursday, October 05, 2007 |
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Stock market seen to sustain rally on BSP move |
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Key interest rates cut |
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THE stock market rally is expected to pick up
pace today, after the Bangko Sentral ng Pilipinas’ (BSP)
policy-making body decided on Thursday to cut its key overnight rate
by a quarter of a percent.
The Monetary Board said it decided to reduce by
25 basis points to 5.75 percent and 7.75 percent its overnight
borrowing and lending rates, respectively, effective today. This
move is expected to pull down interest rates for housing, auto, and
other loans, including credit-card charges.
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AirAsia to fly deep into Philippine heartland
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MALAYSIAN budget airline AirAsia plans to expand operations in the
Philippines, particularly in Cebu and Davao.
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Manila Water in the black in 3rd
Q
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AFTER two quarters in the red, Manila Water Co.
Inc. said strong sales led profits to rise by a tenth in the third
quarter of the year.
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RP housing prices going up amid US credit woes
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THE Philippine real estate sector continued to
show momentum in the second quarter of the year despite the United
States’ housing woes, the Global Property Guide said.
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Meralco obtains ERC approval for capital hike
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THE Energy Regulatory Commission (ERC) has approved Manila Electric
Co.’s (Meralco) petition to increase its authorized capital stock.
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PLDT wireless increased subscribers in 3rd
quarter
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PHILIPPINE Long Distance Telephone Co. (PLDT)
gained more subscribers for its wireless units at the end of the
third quarter on aggressive promotions, an executive of its
mobile-phone unit said.
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Shareholders of PAL Holdings to sell stake
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PAL Holdings Inc., the majority owner of the country’s flag
carrier, disclosed to the Philippine Stock Exchange on Thursday that
its biggest shareholder will sell some of its shares in the company,
the proceeds of which would be used to buy additional shares in
Philippine Airlines (PAL).
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Metrobank extends loan to shipping company
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METROPOLITAN Bank & Trust Co. is expanding its market to the
shipping industry as the government embarks on infrastructure
development.
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Palace orders upgrade of Clark power capacity
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MALACAÑANG has directed government agencies to support the power
infrastructure requirements of Clark Free-port Zone (CFZ) to provide
the power needs of Texas Instruments (TI), which will expand in
Clark Field, Pampanga next year.
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Korean property firm to beef up investments
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Korean property developer KT Global will infuse more funds into
building the first high-rise complex at the Subic Bay Freeport, its
top executives announced Thursday.
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SMIC reports brisk sales of Pico de Loro
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SM Investments Corp. (SMIC) announced on Thursday that its Pico de
Loro Cove residential units at Hamilo Coast in Nasugbu, Batangas are
selling well a year before they would be turned over to buyers.
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United Coconut Planters Bank’s unit reports
increased loans to coco farmers
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The UCPB-CIIF Finance and Development Corp. (UCPB-CIIF Finance) has
released multi-million peso loans for coconut farmers across the
country in the first seven months of the year.
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