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Thursday, February 21, 2008 |
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Prices to breach
ceiling, says BSP
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By Chino S. Leyco and Darwin G.
Amojelar Reporters
THE Bangko Sentral ng Pilipinas (BSP)
expects price increases to accelerate in the
first six months of the year to the high-end of its target range.
BSP Governor Amando M. Tetangco
Jr., said the monthly inflation rate in January to June would rise
close to 5 percent, but the average for the year would still fall
within its forecast of 4 percent, plus or minus one percentage
point.
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Inflation fears
drag down stock market
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LOCAL share prices closed lower on Wednesday amid
renewed fears of inflation after oil prices struck a fresh record
high and topped $100 a barrel, dealers said.
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Oil remains close
to $100 a barrel in Asia
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SINGAPORE: World oil prices eased in Asian trade
Wednesday but shadowed $100 per barrel after peaking to fresh record
levels overnight amid speculation OPEC will cut crude output,
dealers said.
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ERC junks govt
power rate-cut plea
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THE Energy Regulatory Commission (ERC) threw out a
petition filed by
the Department of Trade and Industry (DTI) outlining several
proposals President Arroyo offered to bring down the country’s
electricity costs.
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Domestic air
travel picks up on promo fares
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DOMESTIC air travel last year grew by more than a
fifth owing to local airlines’ cheap promo fares, the Civil
Aeronautics Board (CAB) on Wednesday said.
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Foreign tourist
arrivals up
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The number of foreign tourist arrivals grew 7.8
percent to 293,803 in January, the Department of Tourism (DOT) said
Tuesday.
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Govt debt payments
decline
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DEBT payments by the national government declined
last year due to lower interest rates and the rapid appreciation of
the peso, Bureau of Treasury data showed.
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BIR to tap BSP for
tax on gold
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THE Bureau of Internal Revenue wants to tap the
Bangko Sentral ng Pilipinas (BSP) in collecting excise tax from
small-scale miners on their sale of gold.
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PNOC-EDC rewards
new owners generous dividend
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FRESH from the sale of a controlling stake the
government held in it, the
country’s largest geothermal energy producer will reward its
shareholders with a cash dividend.
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Govt biofuels arm
plans to accelerate jatropha venture
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STATE-RUN Philippine National Oil Co.-Alternative
Fuels Corp. (PNOC-AFC) said it wants to fast track its jatropha
plant venture for biofuel use with the establishment of seed centers
across the country.
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HSBC relocates,
opens new domestic branches
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THE Philippine unit of Hong Kong and Shanghai Banking
Corp. Ltd. (HSBC) said it is expanding its network and has moved
some of its branches to more strategic locations as it grows its
business in the country.
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Eton Properties
forays into low-income mart
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THE real-estate unit of airline and tobacco tycoon
Lucio Tan has entered the “affordable” or lower middle income
segment as it distances itself away from the weakening US market,...
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Lorenzo Shipping
disposes of old vessel
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LORENZO Shipping Corp. on Wednesday said its board
approved the sale of an old vessel to Coral Bay Maritime Inc. Nevis.
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BIZZ FIZZ
By Rene Martel
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CCP banks on PNB
Paribas
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IT may be a bank located in the heart of Paris, but
its heart reaches out to the Philippines— with Hong Kong based BNP
Paribas CEO North Asia Claude Haberer as the facilitator of this
goodwill and generosity.
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