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Friday, September 21, 2007 |
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Peso, stocks rally |
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DESPITE a brewing political standoff that risks dividing President
Gloria Arroyo’s ruling coalition, the peso and the local stock
market sustained gains for a second day, especially after the Bangko
Sentral ng Pilipinas (BSP) hinted that it may take its cue from its
United States counterpart and similarly cut key interest rates.
Last Wednesday night, the US
Federal Reserve reduced its federal funds rate by a
higher-than-expected half-a-percent to 4.75 percent, causing stock
markets worldwide to rally...
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Leading developers eye prime land in Fort Boni
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TOP real estate developers have expressed interest in one of the
prime lands in the Bonifacio Global City, state-run Bases Conversion
and Development Authority (BCDA) said.
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Govt projects higher VAT collections
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THE Philippines expects higher collections of the value-added tax
(VAT) this year.
Department of Finance (DOF) data showed the
government aims to collect P327.286 billion from the imposition of
the sale tax on goods and services this year, 26 percent higher than
last year.
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Ambuklao-Binga plants lure power investors
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A LARGE number of investor groups have signified their plan to
participate in the forthcoming bidding of several state-owned power
plants to be conducted by the Power Sector Assets and Liabilities
Management Corp. (Psalm) before the year-ends.
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NEDA green light also given to
tollway, airport, health-care funding
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LRT 1 North
Extension to use NDC borrowings for funding
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THE board of the National Economic and Development Authority (NEDA)
on Thursday approved the use of the proceeds from the debt-paper
sale of state-owned National Development Co. (NDC) for the Light
Rail Transit Line 1 (LRT 1) extension from Monumento in Caloocan
City to North Avenue in Quezon City.
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Power plant operators buck proposal to amend
Epira
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PRIVATE power plant owners belonging to the Philippine Electric
Power Operators Association (Pepoa) asked the Senate to turn down
proposals aimed at amending the Electric Power Industry Reform Act (Epira).
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Smart expands int’l voice, text service
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SMART Communications Inc. said it has expanded its international
voice and text service to more countries hosting overseas Filipino
workers (OFWs).
In a statement, the telco, a unit
of Philippine Long Distance Telephone Co. (PLDT)...
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Atlas subsidiary to increase capital
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ATLAS Consolidated Mining and Development Corp. told the Philippine
Stock Exchange that its wholly-owned subsidiary would raise its
authorized capital stock to accommodate the Toledo mining project
the parent is undertaking.
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Oil prices ease, but seen to remain high
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SINGAPORE: Oil prices were lower in Asian trade Thursday as
investors took profit following a record-setting rally, but are
expected to remain high amid tight supplies and weather concerns,
dealers said.
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Japan’s execs confident despite market turmoil
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TOKYO: Japan’s top executives have become more confident for the
first time in a year, a survey showed Thursday, providing some
welcome good news on Asia’s largest economy after a slew of gloomy
data.
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Facing inflation, China freezes prices on key
products
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BEIJING: China, facing the specter of inflation, has frozen the
prices of key products subject to government price controls or
regulation, the nation’s top planner announced.
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Sharp, Pioneer agree to tie up
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TOKYO: Japan’s Sharp Corp. announced Thursday that it had agreed
to become the top shareholder in its financially troubled rival
Pioneer Corp. as part of a broad business and capital tie-up.
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