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Thursday, April 24, 2008 |
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Bond sales to slow
down
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GOVERNMENTS and companies seeking
to borrow money through the sale of bonds or long-term IOUs may
become scarce in the near term, as the ongoing global financial
turmoil will exacerbate the volatility in the region’s bond
markets, according to the Asian Development Bank (ADB).
In its recent Asian Bond Monitor,
the regional lender said corporate bond yields are already creeping
up as investors seek higher premiums due to rising risk aversion.
Borrowers in turn are relying more on short-term bank financing
rather than longer-term debt issuance.
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BSP likely to keep
interest rates steady
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THE Bangko Sentral ng Pilipinas (BSP)
is seen to leave its interest rates unchanged today due to higher
inflation, but is expected to raise them in the next policy meeting
due to pressure coming from a looming increase in wages.
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Filipinos take
steps vs. global warming
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USING less electricity, water and recycling are the
most common steps Filipinos take to protect the environment from
global warming, according to Voice of the People Survey.
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Inflation fears
pull stock market to five-week low
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LOCAL share prices closed lower Wednesday, with the
key index hitting its lowest level in five weeks on inflation fears,
dealers said.
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BIR misses
first-quarter collection goal despite year-on-year hike
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THE Bureau of Internal Revenue (BIR) missed its
first-quarter collection target, despite a double-digit growth in
revenues from last year.
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Customs abetting
flour smugglers, say local millers
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THE Philippine Association of Flour Millers (PAFMIL)
said on Wednesday that smuggled wheat flour from China continues to
flood the country due to “corrupt” Bureau of Customs officials
and personnel.
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US-based power
giant takes over Masinloc plant
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Masinloc, Zambales: New York-listed AES Corp. has
taken over the operations of the 600-megawatt coal-fired power plant
in this province.
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PCCI backs trade
dept tack on stronger international trade negotiating arm
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THE Philippine Chamber of Commerce and Industry (PCCI)
is backing moves by the Department of Trade Industry (DTI) to
institutionalize reforms that would effectively put in place the
conduct of international trade negotiations.
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Swift’s profit
rises on sales of live chicken
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THE meat-processing arm of RFM Corp. told the
Philippine Stock Exchange on
Wednesday that profits last year grew despite lower sales, citing
its shift to “high-margin products.”
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PAL seeks more
seat entitlements to Macau ahead of bilateral air talks
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PHILIPPINE Airlines (PAL) wants more seat
entitlements to service daily flights to the world’s top gambling
destination as the Philippines and Macau are scheduled to negotiate
for a new air service agreement next week.
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SkyCable to spend
bulk of capex on rollout of anti-signal theft digital box sets
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THE cable unit of ABS-CBN Broadcasting Corp. on
Wednesday said it would spend this year for the rollout of its
digital boxes (Digibox), a technology aimed at reducing cable TV
signal theft.
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Asian PC sales
rise, defy US slowdown
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PORTABLE units led the growth in sales of personal
computers (PC) in the Asia-Pacific region ex-Japan, according to the
International Data Corp. (IDC).
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BIZZ FIZZ
By Rene Martel
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Rice crisis
eating into telecom sector
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GOSH…this has to be the end of
the world as we know it! A lawmaker is suggesting that, as a result
of the rice crisis, Filipinos—representing the world’s leading
texting nation...
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