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Monday, February 18, 2008 |
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Higher growth targets set
for Arroyo homestretch
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PHILIPPINE economic managers are set to revise
upwards the country’s economic growth targets for next year and
2010, a document obtained by The Manila Times showed.
The document showed that the Development and
Budget Coordinating Committee (DBCC) has revised the country’s gross
domestic product (GDP) growth goal next year to between 6.5 percent
and 7.3 percent from the 6.4 to 7.1-percent target range set in
December 14.
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Government tax effort fell last year
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THE Philippines’ tax collection efficiency
declined last year, according to the Department of Finance.
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RP to buy more flour from China
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DESPITE quality issues, the Philippines is set
to import more flour from China, the Department of Trade and
Industry said.
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Subsidies to state firms nearly double
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SUBSIDIES to government owned and controlled corporations (GOCCs)
and government financial institutions (GFIs) nearly doubled last
year despite the Department of Finance’s efforts to minimize state
support to these firms.
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Petrolift formally defers plans
for maiden share offering
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After asking that its initial public offering
timetable be extended, Petrolift Inc. told the Philippine Stock
Exchange it could not meet the February 15 deadline and would wait
for a better time to enter the market.
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Solid Group unit buys
Phil-Nanning Consortium
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Solid Group Inc. disclosed that its unit bought Phil-Nanning
Consortium in order to pursue a real-estate project in mainland
China.
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BSP approves microfinance
housing product for poor
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THE Bangko Sentral ng Pilipinas (BSP) has
relaxed the rules on bank lending for the housing requirements of
low-income Filipinos.
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Robinsons Land sells receivables
from asset sales
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ROBINSONS Land Corp. (RLC) told the Philippine Stock Exchange that
it has signed an accord selling its receivables from property sales
to a special purpose company.
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PEZA to persist in power
rate cuts despite case
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STATE-RUN Philippine Economic Zone Authority (PEZA) said its
campaign to reduce power rates in economic zones will continue
despite a case filed by the Manila Electric Co. (Meralco) seeking to
bar the agency from regulating distribution utilities in these
areas.
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Research group doubts viability
of jatropha-based autogas
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A research group doubted the viability of biofuel derived from the
jatropha seed for vehicle use as the plant’s development for this
purpose has yet to take off.
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Lucio Tan group plans expansion
in Palawan, may build hotel-resort
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THE Lucio Tan group is looking at the possibility of expanding its
hotel business in Palawan where it already has presence through its
mining concern, MacroAsia Corp.
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Smart, Piltel answer Globe’s protest
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THE wireless units of Philippine Long Distance Telephone Co. (PLDT)
want rival Globe Telecom Inc. to stop seeking protection from the
regulator when faced with market competition.
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Toshiba to pull out of HD DVD market
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TOKYO: Japan’s Toshiba, which has led the HD DVD video disks
format, plans to withdraw from the business as it is losing the
battle against rival Sony’s Blu-ray format, a report said
Saturday.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Five ‘ Whys’:
Finding the root cause of a problem
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RECENTLY, I WAS mildly ravaged by a sudden, unexpected demand for
medical care due to a persistent hang nail in my right foot.
Well, OK it was not a serious medical problem that would require me
to stay several nights at the 5-star Asian Hospital, except to say
that the thought quickly faded into dim memory once I think of this
column … and of course, the hospital bill.
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