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Monday, December 15, 2008 |
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higher rate adjustments loom
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Regulator thumbs down water concession extension
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THE Regulatory Office of state-run Metropolitan Waterworks and
Sewerage System (MWSS-RO) has thumbed down proposals for the
extension of the concession contracts for the East
and West zones.
Estrella Zaldivar, MWSS Regulatory Office
(MWSS-RO) deputy administrator for legal affairs, said the regulator
deemed as too early any extension of the separate 25-year contracts
of Manila Water Co. Inc. and Maynilad Water Services Inc.
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Stock market to take cue from US developments
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LOCAL share prices this week will continue to follow the lead set by
developments in the United States, dealers said on Friday.
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Dollar reserves ‘comfortable,’ says BSP
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DESPITE the global financial crisis, the country’s dollar reserves
would end the year within “comfortable” levels, according to the
Bangko Sentral ng Pilipinas (BSP).
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Central bank likely to trim interest rates
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THE Bangko Sentral ng Pilipinas (BSP) is likely to cut its key
policy rates on Thursday as inflation returned to the single digit
level while the peso has strengthened against the dollar on the back
of large remittance inflows.
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More Taiwanese eyeing RP investments
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TAIPEI: More Taiwanese businessmen plan to invest in the
Philippines once Manila allows products made here to be classified
as “Filipino,” thus facilitating their entry to other Southeast
Asian markets, the Manila Economic and Cultural Office (MECO) said.
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Govt raises privatization target for 2009
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THE government has raised its programmed privatization revenues for
next year after the sale of Philippine National Oil Co.-Exploration
Corp. (PNOC-EC) was postponed, the Department of Finance said.
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US Fed eyes effort to stave off deflation
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WASHINGTON. D.C: With an economy sinking fast and key interest rates
approaching zero, the Federal Reserve is struggling to find new
tools to break a credit logjam and fire up growth, analysts say.
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Bloodied banking sector licks wounds after year of horror
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WASHINGTON, D.C.: Banks floundered, grabbed government lifelines,
and failed in 2008 as the global financial crisis shredded their own
vaunted reputations for security.
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OPEC set to slash output as prices fall
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LONDON: The Organization of Petroleum Exporting Countries (OPEC),
the cartel pumping 40 percent of world oil, is this week set to
announce plans to slash output in the hope of lifting crude prices
weighed down by a recession-fuelled slide in energy demand.
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Venezuela, Flying V in supply talks
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THE Venezuelan government is in talks with Flying V for the possible
supply of petroleum products from one of the world’s largest
oil-producing country.
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Shell seeks incentives for oil refining
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THE Philippines’ oil refiners are in need of government support to
survive the substantial drop in crude prices, an industry official
said.
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SMIC to build hotel, casino in ’09
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THE SM group is set to build its hotel-casino and entertainment
facilities for state-run Philippine Amusement and Gaming Corp.’s
(Pagcor) Bagong Nayong Pilipino Entertainment City next year.
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BDO unit’s debt-paper sale secures green light
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THE Securities and Exchange Commission (SEC) has approved BDO
Leasing and Finance Inc.’s registration of short-term commercial
papers (STCP) that will be sold to raise funds to refinance older
placements, pay maturing debts and for re-lending.
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Eastern Telecoms eyes South Luzon ecozones
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EASTERN Telecommunications Philippines Inc. (ETPI) is eyeing
locators in economic zones and industrial parks in the Southern part
of Luzon for its local cable landing station to meet its five-year
revenue target.
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PPA to tap French loan for ports modernization
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STATE-RUN Philippine Ports Authority (PPA) is seeking a multibillion-peso
loan from France for the installation of modular roll-on, roll-off
(RoRo) ports to link remote provinces and reduce the transport costs
of goods.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Decentralization:
Fast-tracking decision-making
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MANAGERS who attend my seminar for the first time are often shocked
to discover that despite their MBAs from exclusive schools, many of
them still cannot understand what “decentralization” is all
about, among others.
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