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Friday, February 15, 2008 |
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Foreigners trim exposure
to local stocks, peso assets
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FOREIGN interest in local stocks and other
peso-denominated financial assets subsided last month on fears of a
US recession and soaring oil prices, the Bangko Sentral ng Pilipinas
(BSP) said Thursday.
In a statement, the BSP said foreign portfolio
investments registered a net outflow of $237 million in January, a
turnaround from the net inflow of $252.5 million last year.
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BIR to require property firms to advance VAT
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THE Bureau of Internal Revenue (BIR) will require real-estate
developers to soon pay in advance the value-added tax (VAT) on every
sale, exchange or transfer of property.
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Ayala Corp. registers record profit on
higher earnings of major subsidiaries
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AYALA Corp. announced on Thursday that its
profit last year jumped to a record on higher capital gains from
share sales, reduced expenses and stable equity earnings from its
subsidiaries.
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Jollibee net income up on sales, more stores
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JOLLIBEE Foods Corp. (JFC) announced on Thursday
that its profit last year rose by a single-digit as same store sales
grew at the same time as its store network expanded.
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Psalm schedules sale of 10 state-owned power
plants this year
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STATE-RUN Power Sector Assets and Liabilities Management Corp.
(PSALM) is looking to dispose 10 power plants operated by
state-owned National Power Corp. (Napocor) within the year.
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Permit delays new generating plants
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TWO companies’ plans to put up hydroelectric power plants in
Mindanao have failed to take off due to the lack of government
support, an official said Thursday.
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Govt cuts borrowings last year
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THE Philippines borrowed less from domestic and foreign creditors
last year due to its strong cash position buoyed by proceeds from
the sale of major government assets, Bureau of Treasury data showed.
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PAL suffers losses in third quarter
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PHILIPPINE Airlines (PAL) said it suffered a net
loss for the third quarter ending December on the back of higher jet
fuel and manpower costs.
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Robinsons Land net income
up on higher real estate sales
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ROBINSONS Land Corp. disclosed to the Philippine Stock Exchange that
profits for the first quarter of its fiscal year rose on the back of
higher real estate sales, the biggest revenue contribution among all
the company’s divisions.
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Security Bank profit rises
as loan portfolio grows
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SECURITY Bank Corp. announced on Thursday that its profit last year
rose despite the low interest rate environment since it grew its
loan portfolio, pulling up its interest income.
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Smart, Piltel defy NTC order, says Globe
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SMART Communications Inc. and Pilipino Telephone Corp. (Piltel) have
defied an order of the National Telecommunications Commission (NTC)
directing the companies to stop offering certain promos, rival Globe
Telecom Inc. said.
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World Bank arm extends
loan to Asian Hospital
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THE private-sector arm of the World Bank said it has signed a
billion peso long-term loan agreement with Asian Hospital Inc. (AHI)
to refinance the hospital’s debts and expand its infrastructure.
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