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Friday, January 18, 2008 |
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BSP losses widen on strong peso
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LOSSES incurred by the Bangko Sentral ng
Pilipinas (BSP) due to the peso’s appreciation widened in October
as more dollars flowed into the country.
Based on its latest statement of income and
expenses, the BSP incurred P67.4 billion in losses in the first 10
months of 2007 from absorbing the excess foreign exchange to keep
the peso from rising too fast.
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Govt debt lower in Oct.
on peso, net repayments
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THE national government’s outstanding debt as
of October 2007 declined from the end-September figure, but was
still higher than the previous year, the Bureau of Treasury (BTr)
said Thursday.
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Filipinos have low financial IQ, says Citibank
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FILIPINOS are not financially savvy enough to help them tide over
rough times and plan for a comfortable retirement, a survey by
Citibank N.A. showed.text
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BPOs to benefit from US woes
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THE Philippine business processing outsourcing (BPO) industry is poised to benefit from the US economic slowdown,
the Business Processing Association of the Philippines (BPAP) said
Thursday.
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GSIS keen on acquiring FTI lot
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Govt may lease out Japan
asset to raise money
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HARD-PRESSED to attain a balanced budget this
year, the Department of Finance said the government plans to lease
out the official residence of the Philippine ambassador to Japan
within the first quarter this year.
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Passenger traffic boosts PAL
revenue by a tenth Apr. -Dec.
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PHILIPPINE Airlines’ passenger revenue rose nearly a tenth in the
third quarter ending December on the back of higher domestic and
international traffic, the Lucio Tan-owned flag carrier announced
Thursday.
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PNOC-AFC, Petron to sign off-take
deal
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The Philippine National Oil Co.-Alternative Fuels Corp. will sign an
off-take agreement with Petron Corp. for the latter’s biofuel
requirements, its chairman said at the sidelines of a biofuels
forum.
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First Gen may invest in Indon energy firms
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Listed firm First Gen Corp. has received offers to invest in
geothermal power in Indonesia through its majority controlled
Philippine National Oil Co.-Energy Development Corp. (PNOC-EDC).
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Power distributors may
list open-access clients
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THE Energy Regulatory Commission (ERC) has
directed electricity distributors operating in Luzon to submit a
list of qualified customers that may be allowed to choose their own
power supplier once retail competition and open access commences.
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Atlas gives TVI more time on mining deal
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ATLAS Consolidated Mining and Development Corp. extended its
deadline on whether it would pursue a joint venture with TVI
Resource Development (Phils.) Inc., involving a mining project in
Zamboanga del Norte.
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DMCI, First Gen talks on
Panay power plant stall
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DMCI Power Corp. has received proposals on possible tie-ups for a
coal-fired power plant it plans to construct in Panay Island, after
talks with original partner, First Gen Corp., stalled.
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NEDA to DOTC: Award MRT 7 to Universal LRT
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THE National Economic and Development Authority (NEDA) said on
Thursday that it will order the Department of Transportation and
Communications (DOTC) to award the Metro Rail Transit Line 7 (MRT 7)
project to Universal LRT Corp. (ULC) after accepting the terms and
conditions of the government.
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Cebu Pacific opens Vietnam budget trips
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CEBU Pacific announced Thursday that it will start direct flights
from Manila to both Hanoi and Ho Chi Minh cities in Vietnam in
April.
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