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Monday, April 07, 2008 |
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Balanced budget still in the
cards despite external shocks
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DESPITE a widening budget deficit, the
Department of Finance said the government is sticking to its plan to
balance its budget this year.
Finance Secretary Margarito Teves said the
country is better prepared to weather external shocks with prudent
fiscal management, adding it is important the government generates
enough revenues to support its higher spending for infrastructure
and cushion the domestic impact of a weakening US economy.
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Profitability of RP banks
to remain low, says IMF
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PROFITABILITY at Philippine banks is expected to
remain low vis-à-vis those in other emerging markets due to a
relatively big exposure to government debt and the high share of bad
loans, the International Monetary Fund (IMF) said.
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PNOC-EC to bid out half of
stake in West Balabac bloc
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PHILIPPINE National Oil Co.-Exploration Corp. (PNOC-EC)
is bidding out half of its participating interest in the West
Balabac bloc in offshore Palawan to accelerate the area’s
exploration program.
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US economy to influence local bourse
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LOCAL share prices will likely be determined by developments in the
US economy in the coming days, dealers said last Friday.
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Government plans project
development fund—NEDA
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THE government plans to create a project
development fund to help agencies line up priority infrastructure
projects, a National Economic and Development Authority (NEDA)
official said.
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DBP gets monetary board’s
nod for Al-Amanah takeover
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THE policy-making body of the Bangko Sentral ng
Pilipinas (BSP) has approved Development Bank of the Philippines’
(DBP) acquisition of Al-Amanah Islamic Investment Bank of the
Philippines.
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Lender tapped as adviser
for privatization of FTI
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THE government has tapped state-run Development Bank of the
Philippines (DBP) for advise on the scheduled privatization of the
Food Terminal Inc. (FTI) property in Taguig.
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Genting, Aruze to invest in Pagcor project
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STATE-RUN Philippine Amusement and Gaming Corp. (Pagcor) has amassed
huge investment commitments from some of the region’s biggest
leisure and resort players for a project along Manila Bay by this
quarter.
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Oil prices spike as greenback slides
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NEW YORK: Oil prices leapt above 106 dollars in New York Friday as
investor sentiment was driven by the weak US dollar, tight energy
supplies and more bad news on the US economy.
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Universal Motors may partner
with Nissan Japan in new venture
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UNIVERSAL Motors Corp. (UMC), the local
assembler and sole distributor of Nissan commercial vehicles, is
eyeing to invest in a stamping facility.
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Globe poised to double
broadband subscribers
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GLOBE Telecom Inc. is eyeing to double its broadband subscribers
this year as it capitalizes on its investments in new local and
international cable landing stations.
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Psalm to hold 2nd pre-bid
meet for Tiwi-MakBan
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STATE-RUN Power Sector Assets and Liabilities Management Corp.
(Psalm) is set to conduct another pre-bid conference for the
Tiwi-MakBan geothermal power complex.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Hoshin Kanri:
Management by Japanese objectives
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THE ARE MANY important and durable lessons I’ve learned in
Japanese management after studying, working, and visiting Tokyo for
at least eight times in the past, including a year-long human
resource fellowship program in 1993.
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