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Monday, January 14, 2008 |
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Court kicks out challenge to TransCo auction
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Monte Oro-led consortium
declared winning bidder
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THE Makati Regional Trial Court dismissed a
complaint filed by a disqualified bidder for the National
Transmission Corp. (TransCo), clearing the way for the award of the
Philippines’ lone power grid to a consortium led by Monte Oro Grid
Resources Corp.
In a statement, state-run Power Sector Assets
and Liabilities Management Corp. (Psalm) said dismissal of the
complaint filed by La Cost Development Corp. Inc., clears all
existing obstacles to the privatization of the country’s power
grid, which was auctioned off in December.
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Surge in mining-related
investments this year–DTI
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THE Department of Trade and Industry said the
Philippines should prepare for a surge of mining-related investments
this year.
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BSP rules out bank fallout
from US housing woes
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LOCAL banks are immune to the risks emanating
from the US subprime housing sector crisis as the domestic industry
has a very small low-cost housing portfolio and is subject to
stricter rules, the Bangko Sentral ng Pilipinas (BSP) said.
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Inflation to remain within
govt target, says UN body
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CONSUMER price increases in the Philippines may
average higher this year owing to skyrocketing oil and food prices,
according to the United Nations Economic and Social Commission for
Asia and the Pacific (Unescap).
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PLDT prepaid service to stop
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THE National Telecommunications Commission (NTC)
has approved the Philippine Long Distance Telephone Co.’s (PLDT)
plan to terminate its prepaid landline services starting May this
year.
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Cathay Land lines up projects, sets share sale
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CATHAY Land Inc. said it has lined up 10 projects this year
alongside its plan to sell shares to the public for the first time
to fund more land acquisitions and other deals.
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Lopez group to buy out
City Resources shareholders
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A LOPEZ-OWNED company will offer to buy out the shares held in the
firm by other stockholders within the next two weeks.
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BOI awards tax perks to
low-cost housing firm
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THE Board of Investments (BOI) has approved tax and other perks for
a low-cost housing project of P.A. Alvarez Properties and
Development Corp.
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Cebu Pacific claims top spot
in 2007 as RP airline
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CEBU Pacific said the number of passengers it
carried rose more than half last year on the back of rising domestic
and international traffic.
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BDO joint venture on foreclosed
properties OK’ed
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THE Bangko Sentral ng Pilipinas (BSP) has approved Banco de Oro
Unibank’s (BDO) plan to form a joint venture with three property
firms to develop foreclosed properties.
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IPVG raises offer, resumes
bid for PeopleSupport
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PHILIPPINE-listed IPVG Corp. has renewed its proposal to acquire
PeopleSupport Inc. by increasing the offer price for the shares of
the NASDAQ-listed contact center company.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Reengineering 2:
Cheap product but destructive?
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TODAY, we take a look at the introduction of the world’s cheapest
car by India’s Tata Motors. Dubbed as the “people’s car” and
nicknamed as “Nano,” it costs about $2,500 to beat by a mile
China’s Cherry model QC3 at $5,000 and another Indian
creation—Suzuki-Maruti’s M800 for about $5,200.
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