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Friday, April 25, 2008 |
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Finance sets second-half targets
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First-quarter budget
deficit hardly improves
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By Chino S. Leyco Reporter
EXPENDITURES rose faster than
revenues in the first quarter, with the Philippines’ budget
deficit hardly changed from a year ago, the Department of Finance
said on Thursday.
In a briefing, Finance Secretary
Margarito Teves said the government incurred a P51.6-billion fiscal
gap in the first three months this year, slightly lower than the P52
billion in the same period last year.
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Stock market rises
after Wall Street gains ground
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LOCAL shares prices closed higher Thursday on bargain
hunting fuelled by Wall Street’s overnight gain on quarterly
results, dealers said.
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Bangko Sentral
interest rates kept steady
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DESPITE high inflation, the policy-making body of the
Bangko Sentral ng Pilipinas (BSP) decided to keep its interest rates
steady as widely expected.
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Finance moves to
exempt MRT 3 buyout from taxation
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EIGHT years after the Metro Rail Transit Line 3
(MRT-3) began running, the Department of Finance is finalizing a
scheme on the buyout of the transport system from a group of
investors led by the Metro Rail Transit Corp. (MRTC).
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Oil prices fall
from record
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SINGAPORE: World oil prices paused within sight of
the $120-level on Thursday after a mixed report on US energy
stockpiles, dealers said.
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Cable TV companies
eye venture into Internet play
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LOCAL cable television companies plan to expand to
Internet-based service in a move to circumvent illegal connections
and face the challenge of new technologies.
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SM Prime allots
money for mall development in China
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The Philippines’ biggest shopping mall owner and
operator set its spending tack for its foray into China as part of
its expansion across Asia, officials announced Thursday.
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AES entry seen to
spur SMEs
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Masinloc, Zambales: The privatization of the Masinloc
coal-fired power plant is expected to boost this province’s
economy as big businesses with plans to put up shop here may tap the
facility for their power needs.
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Dutch firm buys
into Philex subsidiary
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Philex Mining Corp. announced Thursday that a Dutch
firm has bought into its wholly owned subsidiary, Philex Petroleum
Corp.
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Medical City bags
perks for upgrade
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THE Professional Services Inc. has bagged tax
incentives and other perks from the Board of Investments (BOI) for
the expansion of its healthcare and wellness center in Pasig City.
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ATI looks to
acquire ports abroad
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ASIAN Terminals Inc. (ATI) has set aside nearly a
billion pesos in capital expenditures this year to fund its domestic
expansion and a possible maiden venture overseas.
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JG Summit takes
out loan from foreign bank
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THE Gokongwei group has incurred fresh borrowing by
tapping a term loan facility with a foreign bank.
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Interport
Resources plans add’l share sale
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INTERPORT Resources Corp. (IRC) disclosed to the
Philippine Stock Exchange on Thursday that it plans to sell
additional shares to its stockholders to raise funds for its real
estate projects and other working capital requirements.
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San Miguel
Properties completes BanCom buy-in
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THE real estate arm of San Miguel Corp. told the
Philippine Stock Exchange that it has completed the purchase of a
Bank of Commerce stake that will provide the property developer
access to bank financing for its projects...
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