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Tuesday, December 02, 2008 |
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BIR collection falls short of target in first 10 months
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THE country’s main tax collection agency remains behind its target
in the first 10 months of the year, according to Department of
Finance data.
Finance data revealed that the Bureau of
Internal Revenue’s (BIR) end-October collection of P644.811
billion was P26.538-billion short of the P671.349-billion goal for
the period.
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Financial markets look to central banks for relief
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TOKYO: Central banks are poised to step up their efforts this week
to tackle the deepening economic crisis as the bosses of the Big
Three US carmakers return to Congress to plead for emergency aid.
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Treasury amenable to trimming interest payments
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THE Bureau of Treasury is amenable to a Senate proposal cutting the
country’s programmed interest payments for next year to give way
to badly needed social and infrastructure spending.
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BSP rules out extension of bad-asset sale perks
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THE Bangko Sentral ng Pilipinas (BSP) is ruling out the extension of
tax perks for the sale of banks’ bad assets after lenders disposed
of a significant amount of their soured loans and real and other
properties acquired (ROPA).
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Oil down in Asia as OPEC maintains output quota
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SINGAPORE: World crude prices weakened in Asia Monday after the
Organization of Petroleum Exporting Countries (OPEC) oil cartel
maintained existing production quotas at a weekend meeting amid a
global downturn, dealers said.
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PSE dangles lower tax rate on firms set to list
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BESIDED pushing for a smaller tax on stock transactions, the
Philippine Stock Exchange (PSE) will lobby for a cut in the
corporate income tax rate of firms that will go public.
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Bank of Tokyo-Mitsubishi bullish on RP power sector
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INTERNATIONAL lenders remain bullish about the Philippine power
sector despite the global credit crunch, according to the project
finance unit of the Bank of Tokyo Mitsubishi.
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PLDT reduces revenue forecast amid crisis
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HONG KONG: The international sales and marketing unit of Philippine
Long Distance Telephone Co. (PLDT) on Monday said it has tempered
its revenue forecast this year due to the anticipated slowdown in
remittances of overseas Filipino workers (OFWs).
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Ayala Land sees better overseas sales next year
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DESPITE global economic uncertainties, Ayala Land Inc. (ALI) said it
is confident that international sales will grow next year due to
better expected sales in non-traditional markets.
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LG Electronics bets on aggressive pricing for cellphones
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THE local mobile communications sales arm of LG Electronics said it
is relying on the “aggressive pricing” of its cellular phone
products to further increase its share of the booming cell phone
market in the Philippines, an official said.
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Bayad Center to expand branch, biller network
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BAYAD CENTER plans to expand next year by cornering more national
billers and by putting up more branches in areas not covered by the
Manila Electric Co. (Meralco) franchise. Bayad Center is a unit of
Meralco.
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House committee approves REIT measure
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THE House Committee on Economic Affairs approved the bill that
allows wider investor participation in the ownership of real estate
and related assets, according to the Philippine Stock Exchange
(PSE).
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MANAGING
FOR SOCIETY
By Benito L. Teehankee
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Arguments against
business ethics
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Aside from handling courses in business ethics, I like speaking on
the topic to various audiences. I’ve been invited to academic
forums, Rotary Clubs, business conferences, student groups, and even
a doctors’ convention.
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