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Friday, February 22, 2008 |
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Business sluggish in first quarter–survey
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BUSINESSMEN remain bullish about economic
prospects in the second quarter even as respondents to the Bangko
Sentral ng Pilipinas Business Expectations Survey expressed some
uncertainties about the current quarter.
In a briefing, BSP Deputy Gover-nor Diwa C.
Guinigundo said traders continue to have an optimistic view of
macroeconomic conditions in the period January to March, with the
confidence index at 29.9 percent, but 15 index points lower than a
year ago due to weakening outlook particularly of exporter firms.
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Oil worries pull down domestic share prices
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LOCAL share prices closed lower on Thursday amid concern about
soaring oil prices, which are trading at record levels, dealers
said.
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Crude trades near 100
dollars after hitting record
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SINGAPORE: World oil prices traded near $100 a barrel Thursday after
spiking to a new record amid speculation OPEC may decide to slash
production at a meeting next month, dealers said.
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Philippines to withstand
possible US slowdown–S&P
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DESPITE concerns over the Philippines’ poor
revenue performance, Standard & Poor’s Ratings Services said
the country can withstand a possible US recession.
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First Galoc production well
off Palawan completed
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THE operator of the Galoc field in offshore Palawan has completed
the first of two production wells lined up for the oil bloc.
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PLDT puts on hold shift to
new network technology
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PHILIPPINE Long Distance Telephone Co. has put
on hold its migration to the next generation network (NGN)
technology as it addresses congestion problems in its current
network.
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PSBank raises funds to expand
portfolio, boost capital
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PHILIPPINE Savings Bank disclosed to the local bourse on Thursday
that it has completed its stock rights offering, raising money to
boost its capital, expand its loan and investment portfolio, and set
aside resources for potential acquisition of assets in line with its
core business.
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Business recovery center
firm sets capital expenditure
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TOTAL Information Technology (TIM) on Thursday said it is setting
aside hundred millions of pesos this year for its expansion.
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Philex jacks up exploration
budget for gold, copper
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PHILEX Mining Corp. said it is jacking up its mining exploration
budget as it continues to search for additional tenements that would
yield copper and gold ores as well as pure gold.
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