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Wednesday, December 10, 2008 |
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Higher pump price rollback uncalled for, oil firms say
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Oil firms Tuesday decried calls for a steeper rollback of pump
prices, saying that current costs and profit margins do not warrant
such a move.
In an industry meeting at the Department of
Energy, officials of oil companies said the P10-per liter cut in
diesel prices called for by various quarters is baseless as current
prices are still pegged at previous weeks’ inventory and did not
take into account their investments in the country.
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Philippine shares close higher on bargain hunting
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Local share prices closed 1.4-percent higher Tuesday as investors
picked up bargains, inspired by Wall Street’s rally overnight,
dealers said.
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NG posts higher
debt as peso weakens
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The national government has widened its outstanding debt in the
first nine months owing to the weakening of the peso, Bureau of
Treasury (BTR) said yesterday.
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UK government gives PSE grant for corporate governance
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The government of the United Kingdom (UK) has extended its support
to the Philippine Stock Exchange (PSE) through a grant that would
boost the bourse’s corporate governance program as part of its
reform agenda.
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OFW money, BPO earnings seen to keep economy afloat
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HSBC expects the Philippine economy to sustain its growth next year,
driven primarily by sustained remittance inflows and business
process outsourcing (BPO) earnings next year.
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BSP sees banks weathering global economic slowdown
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The Philippine banking industry is expected to weather the expected
slowdown of the country’s economic growth next year, Bangko
Sentral ng Pilipinas (BSP) said.
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ICTSI on list of leading transnational firms in terms of foreign assets
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THE United Nations Conference on Trade and Development (Unctad) has
included a local port operator on the list of top infrastructure
transnational corporations in its World Investment Report.
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Local industries to offer jobs to OFWs facing displacement
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The local agribusiness, business process
outsourcing (BPO), mining and tourism industries can provide jobs to
overseas Filipino workers (OFWs) who face displacement due to global
economic downturn, experts said in a forum Tuesday.
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PLDT to roll out 4G technology amid rising
demand for high-speed wireless service
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PHILIPPINE Long Distance Telephone Co. (PLDT) plans to roll out 4G
(fourth-generation) technology in the country as it sees demand for
high-speed quality wireless service would flourish in the coming
years.
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EDC eyes multimillion-dollar borrowings for 2009
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Renewable energy firm Energy Development Corp. (EDC) plans to borrow
up to half a billion dollars next year to fund its expansion and
hedging activities.
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BDO to help fund MPIC’s interest in ManilaNorth Tollways
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Banco de Oro, Unibank (BDO) said it would partially finance the
Metro Pacific Investments Corp. (MPIC) acquisition of its ownership
shares in Manila North Tollways Corp. and Tollways Management Corp.
through the issuance of fixed rate corporate notes.
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Pacific Online,
Metropass tie up to distribute PCSO scratch card
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Pacific Online Systems Corp., the exclusive online lottery systems
provider of the Philippine Charity Sweepstakes Office in Visayas and
Mindanao, told the Philippine Stock Exchange on Tuesday that it has
tied up with Metropass Systems Inc. for the distribution of
ScratchIT instant tickets.
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Japan’s recession worse than thought – report
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TOKYO: Japan sank much deeper into recession than previously thought
in the third quarter as firms slashed
investment to cope with the financial crisis,
official figures showed Tuesday.
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Asian stocks track Wall Street higher
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TOKYO: Asian stock markets were mostly higher in early deals Tuesday
after strong gains overnight on Wall Street where hopes mounted that
economic stimulus measures will ease the US recession.
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More job cuts, but markets look ahead
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WASHINGTON, D.C.: More job cuts and a bankruptcy filing by one of
America’s biggest newspaper publishers cast a pall on the global
economic outlook Monday, but stock markets looked past the grim news
and rallied.
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Recession means mixed fortunes in world advertising market
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PARIS: As the world’s major economies begin to feel the chill of
recession, the advertising industry is catching cold, with the world
market expected to contract by 0.2 percent, according to a new
report.
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30 years after reform, China farmers once again hope for change
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XIAOGANG, China: Thirty years ago, 18 farmers in this rural
backwater of east China entered a pact to carry out a bold economic
experiment, and became heroes of reform almost overnight.
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VIEWS
FROM
A BRIT
By Mike Wootton
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Promises and
accountability
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I may be wrong, in fact I hope that I am, but it seems to me that
most people here don’t actually believe what other people say to
them about things they intend to do. Is this the Filipino way—not
to want to embarrass people who, for one reason or other, can’t
keep their promises?
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