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Tuesday, October 23, 2007 |
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Investors spooked by shopping mall blast |
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Govt rejects benchmark IOUs
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THE government rejected all bids for its
fresh short-term debt papers on Monday, as investors sought higher
yields after last Friday’s explosion in a crowded shopping mall in
the Philippines’ premier business district.
Deputy Treasurer Eduardo Mendiola said the
government could afford to reject high bids because of the
improvement in its fiscal position.
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Peso gains, share prices plunge
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The peso strengthened Monday despite problems in peace and order
situation.
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The peso closed P44.115 on Monday, up by 12.5
centavos from P44.240 the previous Friday following the explosion at
Glorieta Mall in Makati that left 11 people dead and wounded more
than 100.
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Move traced to unfavorable market conditions
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The peso strengthened Monday despite problems in peace and order
situation.
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PAL Holdings Inc., the owner of flag carrier
Philippine Airlines (PAL), Monday said its controlling on
shareholder has deferred the sale of a fifth of its shares because
of unfavorable market conditions.
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ISM to buy Smart shares in Eastern Telecoms
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ISM Communications Corp. on Monday concluded an agreement with Smart
Communications Inc. to purchase shares of Eastern Telecommunications
Philippines Inc. (ETPI) held by the country’s leading mobile-phone
service provider.
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Govt forms task force on climate change
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TO mitigate the effects of climate change, the government has formed
a task force headed by the Department of Energy (DOE) that will
secure climate-friendly technologies to be funded by both local and
foreign sources.
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More corn imports scheduled this year
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THE Department of Agriculture said Monday that it is finalizing a
tender for additional corn imports due to a prolonged drought during
the third quarter of the year.
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Central CATV to go public in ‘08
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CENTRAL CATV, the operator of SkyCable, plans to sell shares to the
public for the first time next year, with proceeds earmarked for
expansion, its parent ABS-CBN Broadcasting Corp. said.
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Cebu Pacific to drop DMIA charter service plan
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Cebu Pacific may not push through with its plan to operate
internationally from Diosdado Macapagal International Airport (DMIA)
in Clark, Pampanga, because the regional destinations denied its
application for regular charter service.
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NTC told to stop Smart mobile TV
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THE Philippine Cable Television Association Inc.
(PCTA) wants the National Telecommunications Commission to stop the
operator of myTV, Smart Communications, Inc., from offering mobile
television service, citing existing law.
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BIZZ
FIZZ
By Rene Martel
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OFW’s on global remittance map
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NOT wasting any time on the back of the comforting economic news
that the Philippines has emerged as the world’s fourth-biggest
receiver of money sent home by migrant workers who are now
officially classified by the government as modern day heroes...
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