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Wednesday, October 17, 2007 |
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Dream economic growth goal remains elusive |
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Weak exports to cut GDP |
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WEAK exports caused by the rapid appreciation of
the peso is likely to temper the country’s economic expansion this
year, the National Economic and Development Authority (NEDA) said,
dashing its hopes of attaining its dream growth goal.
“Because of the slowdown in exports and if the
trend continuous, the projected 11 percent growth may go down to 8
percent this year,” Socioeconomic Planning Secretary Augusto B.
Santos, who is also NEDA director general told reporters.
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Suez unit wins bid for Calaca coal-fired power
plant
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BELGIAN firm Suez-Tractebel SA, through the
consortium of Calaca Holdco Inc. (CHI), won the bidding for the
Calaca Coal-Fired Thermal Power Plant, state-run Power Sector Assets
and Liabilities Management Corp. (Psalm) said Tuesday.
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US housing woes reduce Philippine dollar surplus
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THE Philippines suffered a dollar deficit last
month in the wake of a housing sector-led credit crunch in the
United States. Also causing the bleeding was the government’s high
debt payments for the month.
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Foreign investments back at precrisis levels
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FOREIGN direct investments (FDI) in the Philippines last year picked
up to their highest level since the Asian financial crisis struck,
according to a new report of the United Nations Conference on Trade
and Development (Unctad).
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Winning bidder is named ZETTE
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Chinese firm bags Luzon power deal
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STATE-RUN National Transmission Corp. (TransCo) has signed a
deal with a Chinese firm for the construction of a
multimillion-dollar transmission line that is expected to improve
power reliability in the Luzon grid.
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PLDT broadband rollout in unserved areas delayed
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PHILIPPINE Long Distance Telephone Co. (PLDT) on Tuesday said its
next generation network (NGN) rollout in unserved areas has been
delayed.
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Petron secures court halt on auction of property
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PETRON Corp. has secured a court order stopping the Batangas
provincial treasurer from auctioning off the oil refiner’s
property in its refinery in that province.
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Marubeni sells stake in JG Summit
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JG Summit Holdings Inc. told the Philippine Stock Exchange on
Tuesday that it has bought out its Japanese partner in its
petrochemical venture to consolidate its ownership.
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Crown bags tax perks
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CROWN Communities Inc. has secured tax incentives and other perks
from the Board of Investments (BOI) for the company’s construction
of low cost housing units in Malolos, Bulacan.
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New PSE site to start 2008
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After years of having two trading floors, the Philippine Stock
Exchange (PSE) may finally enjoy a unified trading venue in two
years, an Ayala Land Inc. (ALI) executive said on Monday.
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Oil at record high in Asia
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SINGAPORE: Crude oil prices surged to fresh records above $86 a
barrel in Asia on Tuesday amid fears of supply disruption due to
rising tension between Turkey and Kurdish rebels in neighboring
Iraq.
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Wall St. hammered by oil prices; Dow below
14,000
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NEW YORK: US stocks took a beating Monday as oil prices leapt to
record highs and a weak earnings report from Citigroup opened a
flood of quarterly results this week.
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Credit stress easing, but outlook still
uncertain–Bernanke
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WASHINGTON: Federal Reserve chairman Ben Bernanke said Monday credit
markets have improved since the August financial turmoil, but that
the US economic outlook is murky due to an exceptionally weak
housing sector.
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US trio wins Nobel Economics Prize
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STOCKHOLM: US trio Leonid Hurwicz, Eric Maskin and Roger Myerson won
the 2007 Nobel Economics Prize on Monday for their pioneering work
on how to design solutions for complex economic and social tasks.
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VIEWS
FROM
A BRIT
By Mike Wooto
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Soccer
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According to my count there are 276 countries in the world. This
number is debatable (whether you count for example the Isle of Man .
. .). A number which is apparently less debatable is the number of
national soccer teams that there are in the World-190 according to
one reference.
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