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Tuesday, January 22, 2008 |
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Investors await BSP rate cut
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Benchmark interest rate flat
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THE benchmark three-month interest rate was
unchanged as investors looked to a possible cut in the Bangko
Sentral ng Pilipinas (BSP) overnight rates later this month.
At Monday’s auction, the 91-day Treasury bill
rate, which banks use in pricing their loans, inched up to 3.673
percent from 3.672 percent two weeks ago. Banks were willing to buy
as much as P1.49 billion of the P1.5-billion worth of three-month
papers on offer, but the government decided to award only P960
million.
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US stimulus package fails
to inspire stock market
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LOCAL share prices closed down Monday amid jitters in Asia after a
US economic stimulus package to combat a feared recession failed to
rally Wall Street, dealers said.
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Technical glitch halts oil drilling in Galoc
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DRILLING operations at the Galoc oil field were
suspended in light of technical problems, a Department of Energy
official said.
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New Caticlan airport terminal OK’ed
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THE Cabinet Committee of the National Economic
and Development Authority (NEDA) has approved the construction of a
new passenger terminal at the Caticlan Airport in Aklan to serve the
rising influx of tourists to world-renowned Boracay Island.
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First Holdings plans fund-raising
activity to pay debts, acquisitions
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FIRST Philippine Holdings Corp. told the
Philippine Stock Exchange that it will raise funds through the sale
of preferred shares to pay its outstanding debts and fund
acquisitions.
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Masinloc owner eyes revenue jump
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NEW York-listed AES Corp. expects to generate a third of a billion
dollars in additional revenues yearly from its acquisition of the
Masinloc coal-fired power plant.
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Sun accelerates roll out of cellular sites
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THE telecommunications arm of the Gokongwei group said it will
accelerate the roll out of its cellular phone sites so that its
mobile services can fully cover subscribers nationwide and carry all
the telephony protocols the company plans to launch.
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Viva Communications pushes
back bourse listing
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VIVA Communications, formerly Viva Productions, Inc. will list at
the Philippine Stock Exchange in March, two months later than its
original plan.
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MANAGING
FOR SOCIETY
By Evelio G. Echavez
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Climate change: How
we can help abate it
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The Intergovernmental Panel on Climate Change (IPCC),
in its Fourth Assessment Report (released in 2007) concludes that
the “warming of the climate system is unequivocal...
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BIZZ
FIZZ
By Rene Martel
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Corporate ‘aloha’ from Manila to Honolulu
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IT will soon be “aloha” all the way from Manila to Honolulu (and
on the return journey too!) when Hawaiian Airlines—the national
carrier of that land of sunny smiles and hoola-hoola
bonhomie—inaugurates its first ever flight between the Philippines
and the Pacific gateway to the USA.
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