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Saturday, August 30, 2008 |
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Peso may miss
traditional year-end high
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By Chino S. Leyco, Reporter
THE peso may not enjoy its
traditional year-end rally if the revenue collections promised by
the national government fall through, the Development Bank of
Singapore (DBS) said Friday.
In a note to clients, the
Singaporean bank said the local currency has started its downward
adjustments since May, the month when Finance department abandoned
its goal to balance the budget this year.
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Much slower economic growth seen next year
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THE Philippine economy may move at a much slower pace
next year as indicated by the three-year low posting of its gross
domestic product growth during the second quarter of the year, UBS
Investment Research said Friday.
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Bank lending
growth in June up to double-digit level—BSP
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Demand for loans went up in June, bringing
bank-lending growth to double-digit level in June this year, Bangko
Sentral ng Pilipinas said yesterday.
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Increased private
sector credit raised domestic money supply
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Demand for money expanded in June this year along
with the increase in private sector credit, Bangko Sentral ng
Pilipinas said yesterday.
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GSIS approves more
areas covered by emergency loan
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THE Government Service Insurance System has added
more areas covered by the emergency loan program to include members
working in Romblon, Marinduque, Cavite, Las Piñas and Lucena.
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Text messages soar
in June–NTC
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DESPITE soaring consumer prices, the average number
of text messages sent per day rose by a fifth as of June, the
National Telecommunications Commission said Friday.
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Ambuklao-Binga
power plant fully paid by new owner
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SN Aboitiz Power Benguet Inc. (SNAP Benguet), the
winning bidder for the Ambuklao-Binga power complex, paid the last
installment equivalent for the facility to the Power Sector Assets
and Liabilities Management Corp.
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Banks’ managed
trust funds mostly in govt issues–Survey
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More than half of the banks’ trust fund was
invested in the government securities last year, according to
consulting firm’s survey.
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Mitsubishi Phils.
expects SUV sales to boost profits this year
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MITSUBISHI Motors Philippines Corp. expects the
excellent sales of its sport utility vehicle line to boost the
company’s growth this year.
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Japan unveils
economic stimulus plan
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TOKYO: Japan’s government announced an economic
stimulus package worth 11.7 trillion yen ($107 billion) Friday to
tackle surging energy costs and the looming threat of a recession.
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Toyota to start
leasing hybrids
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TOKYO: Toyota Motor Corp. said Friday that it will
start leasing its new fuel cell hybrid next month as part of its
efforts to encourage the widespread use of the zero-emission
vehicles.
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Nintendo
forecasts higher profit
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TOKYO: Nintendo Co. on Friday raised its profit
forecast by more than one quarter for the current business year on
strong sales of its Wii and DS video game consoles as well as a
weaker yen.
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Nissan to hike
prices selectively
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TOKYO: Nissan Motor Co. on Friday became the latest
automaker to announce price hikes for some of its vehicles in
response to skyrocketing steel costs.
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Asian stocks up,
buoyed by US data
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Asian shares closed up Friday on unexpectedly strong US economic
growth figures, with Japan rallying over 2 percent ahead of the
announcement of an economic stimulus package.
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