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Friday, October 12, 2007 |
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Stocks slide as investors cash in ahead of long
weekend |
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Peso seen to go up to 43-$1 |
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THE peso ended the week at a fresh multiyear high, with the local
currency poised to break into the 43-to-a-dollar level, barring
another costly defense by the Bangko Sentral ng Pilipinas (BSP).
At the Philippine Dealing System (PDS), the
local currency closed to a seven-year high of 44.050 on Thursday,
stronger than the previous day’s closing price of 44.150. It
opened at 44.2000 and traded between 44.05 and 44.20. Total volume
turnover surged to $607 million.
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Indian drug firm to give multinationals a run
for their money
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DR. Reddy’s Laboratories Ltd. has entered the
Philippine market and plans to give multinational drug companies a
run for their money, an official of the Indian company said
Thursday.
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PLDT turns down Digitel’s request for link to
new int’l cable system
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PHILIPPINE Long Distance Telephone Co. (PLDT) on
Thursday turned down a request from rival Digital Telecommunications
Phils. Inc. (Digitel) for access to the former’s planned cable
landing station for Internet broadband service.
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Car sales sustain double-digit growth Jan. to
Sept.
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CAR sales for the first nine months jumped by double-digits from
last year, the Chamber of Automotive Manufacturers of Philippines
Inc. (Campi) announced Thursday.
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Agri merchandise exports grow in end-July
despite weak dollar
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Despite the fast appreciation of the peso
against the dollar, Philippine farm-sector exports grew in the first
seven months of the year, the Department of Agriculture said
Thursday.
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Splash to push through with share-sale middle of
next month
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SPLASH Corp., which recently got the Philippine
Stock Exchange’s nod to sell its shares to the public for the
first time, is scheduled to list its shares with the local bourse by
the middle of next month.
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ERC extends Meralco franchise in Rizal
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T he Energy Regulatory Commission (ERC) has
approved the extension of Manila Electric Co.’s (Meralco)
operations to parts of Rizal province.
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Number of SEC-accredited external auditor surges
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The number of external auditors accredited by the Securities and
Exchange Commission surged in end-September, the regulator announced
Thursday.
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Flying V shelves plan to go public
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FLYING V has shelved plans to go public in the near future, adding
it has enough resources to undertake its expansion, a company
official said.
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Govt files criminal complaint vs. independent
LPG player
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THE Department of Energy (DOE) has filed criminal charges against
the head of the country’s independent liquefied petroleum gas
(LPG) players on grounds of tampering with cooking gas cylinders.
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Airbus sees RP market key in Asia
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EUROPEAN-based aircraft manufacturer Airbus on Thursday said the
Philippines is an important market in Asia and the Pacific for its
next generation aircraft.
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Cityland files for registration of
short-term debt papers
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Listed residential condominium developer Cityland Development Corp.
has filed for registration of the short-term commercial
papers it will sell to the public to fund its projects and pay for
maturing debts.
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