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Tuesday, April 22, 2008 |
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Govt to miss asset-sales goal
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GLOBAL uncertainties arising from a US slowdown
will dampen the Philippine government’s privatization program,
Bear Stearns & Co. Inc. said.
In a report, John Stuermer, Bear Stearns
analyst, said the market uncertainty could make it difficult for the
Philippines to repeat its 354-percent above-program privatization
performance last year.
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BSP seen raising interest rates in June
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THE Bangko Sentral ng Pilipinas (BSP) will raise
interest rates staring June to curb higher inflation and
deterioration in the government’s fiscal position, Hongkong
Shanghai Banking Corp. (HSBC) said.
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Peso strength offsets hike in govt debt
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A STRONG peso caused the government’s debt to decline in January
from a year ago even as more borrowings were incurred for the month.
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Electricity rates to shoot up
with open access–Psalm
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ELECTRICITY rates are expected to shoot up in
the first few years of open access as companies that bought several
state-owned power plants attempt to recover their investments,
state-run Power Sector Assets and Liabilities Management Corp.
(PSALM) said.
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RP settles receivables with SGS after
international court ruling
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SOCIETE Generale de Surveillance (SGS) said it has struck an
agreement with the Philippine government on the settlement of
receivables associated with pre-shipment inspections contracts
discontinued in 2002, the Swiss company said Monday.
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Sun Cellular operator raises capex
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THE operator of Sun Cellular has raised its
capital expenditures for this year in a bid to improve the mobile
phone service provider’s network coverage and capacity.
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Remittance firm reports
volume surge at end-Feb.
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I-REMIT Inc. on Monday said its remittance volume for the first two
months this year surged on the back of the expansion to more
countries with high concentrations of Filipino migrant workers.
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BDO sees integration damping growth
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BANCO de Oro Unibank Inc. (BDO) expects the completion of its
integration with Equitable PCI Bank (EPCIB) to dampen growth this
year.
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DMCI mining unit
seeks Chinese technical partner
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DMCI Mining Corp., the newly incorporated mining arm of the DMCI
group, seeks a technical partner for its venture into ferro-nickel
exploration in Zambales in a bid for more value-added exports.
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Filinvest Devt profit jumps
on real estate, sugar business
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Profits of Filinvest Development Corp. (FDC) jumped last year on the
back of higher revenues from its subsidiaries in real estate, sugar
and banking businesses, the firm disclosed to regulators.
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Consortium member to raise
money for TransCo stake
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A. BROWN Co. Inc. (ABCI) plans to swap its assets for additional
shares in its subsidiaries to raise funds for its participation in
the consortium that won the bid for the National Transmission Corp.
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BIZZ
FIZZ
By Rene Martel
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Curious timing of Petron sale
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WITH oil prices rocketing sky high, the sudden (midnight?) sale of a
big chunk of Philippine state co-owned Petron Corp. by its Saudi
partner is both curious and suspicious.
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MANAGING
FOR SOCIETY
By Evelio G. Echavez
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Management development
program
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I have been conducting training programs for many years. While
working with a group of companies, I was a faculty member in a
general yet comprehensive management course for executives, and in
the training of middle management people.
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