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Wednesday, February 06, 2008 |
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Price increase broad-based Inflation accelerates
amid costlier world oil prices
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CONSUMER prices in January rose at their fastest
pace in 15 months as inflation accelerated across all commodity
groups, the government said Tuesday.
The National Statistics Office reported
that the inflation rate last month went up to 4.9 percent,
higher than the Bangko Sentral ng Pilipinas forecast of between 3.7
and 4.4 percent. Inflation a year ago was 3.9 percent.
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Business groups protest proposed
temporary suspension of VAT on oil
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BUSINESS groups on Tuesday asked the government
to junk the proposed temporary suspension of the value-added tax
(VAT) on oil products.
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Arroyo seeks to reduce Meralco rates
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PRESIDENT Gloria Macapagal-Arroyo has directed
the Department of Trade and Industry (DTI) to initiate moves aimed
at cutting the rates of the country’s largest electricity
distributor.
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Capital investments in RP rose last year
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THE Department of Finance said Tuesday that the
country’s capital investments in the Philippines grew last year.
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Telco growth seen to slow
down on peso’s strength
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THE Philippine telecom industry is expected to
slow down this year owing to weak consumer spending because of the
rapid appreciation of the peso, the country’s second largest
mobile phone service provider said.
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NFA set to raise capital funding via bond sale
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STATE-RUN National Food Authority (NFA) is scheduled to borrow money
through the sale of bonds or IOUs to finance the procurement of
grains, fund its capital expenditures and other requirements, and
refinance maturing debt.
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Malacañang orders increase
in petrochem tariffs
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MALACAÑANG has directed the Department of Trade and Industry and
other concerned agencies to implement the rules slapping a higher
tariff on petrochemicals and plastic products once the naphtha
cracker plant...
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PAL sets two-year capex to
refurbish wide-body fleet
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PHILIPPINE Airlines said it will spend billions of pesos over a
two-year period to refurbish its long-range wide-body fleet.
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RCBC posts record income last year
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CITING unaudited numbers, Rizal Commercial Banking Corp. announced
on Wednesday that its profit last year surged to a record due to
fresh capital raised, a low-cost deposit campaign, “prudent”
loan growth and treasury trading.
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G7 to meet for remedial action on economy
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TOKYO: Slumping global stock markets and fears of a US recession are
set to dominate a weekend meeting of world finance chiefs in Japan,
but analysts see little chance of any coordinated remedial action.
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Thailand eases foreign currency rules
amid sluggish consumption
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BANGKOK: Thailand further relaxed its foreign currency controls,
making it easier for individuals and corporations to invest
overseas, the central bank said Tuesday.
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Indonesia slashes public holidays
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JAKARTA: Indonesia on Tuesday cut three of its 23 holidays for 2008,
citing a need to keep the economy humming amid fears of a global
slowdown, according to a ministerial decree.
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Oil prices fell in Asian trade
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SINGAPORE:World oil prices fell Tuesday in a market preoccupied with
the fate of the United States economy, dealers said.
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VIEWS
FROM
A BRIT
By Mike Wooton
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The cashier
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Buying “appliances” is a time consuming activity around here.
Why is it I wonder that of the several different appliance stores
that proliferate in the Philippines, they all have the same
extraordinary procedures for payment.
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