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Wednesday, January 30, 2008 |
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Move triggered by Moody’s outlook upgrade
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Philippines resumes foreign
commercial borrowing
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FOLLOWING an upgrade in the Philippines’
outlook by one of three international credit rating firms, the
government has resumed its foreign commercial borrowing, the Bureau
of Treasury said Tuesday.
Finance Undersecretary Roberto B. Tan, who is
also acting national treasurer, said the government will borrow $500
million through the sale of sovereign bonds, or IOUs abroad. This
completes the government’s foreign commercial borrowing
requirement for this year.
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BSP sees higher Jan. inflation
due to uptick in basic goods
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THE Bangko Sentral ng Pilipinas (BSP) expects consumer price
increases to have accelerated this month due to the uptick in basic
commodities.
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Govt forecasts biofuel boom in two years
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PREPARE for a biofuel boom, as investments in
this sector are expected to jump in the next two years, according to
a Department of Energy official.
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Energy summit highlights
unresolved power issues
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FROM measures aimed at cushioning the impact of rising fuel prices
to a tax on pollution, the myriad of proposals arising from the
ongoing Philippine energy summit highlights the growing number of
issues clamoring for government attention in the sector.
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ADB, Salceda clash over timing
of balancing the budget
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ASIAN Development Bank on Tuesday said the Philippine government
should push through balancing the budget this year despite recession
fears in the United States.
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PLDT to buy back shares
to boost stock’s value
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THE board of Philippine Long Distance Telephone
Co. (PLDT) on Tuesday approved a share buyback program in a bid to
protect shareholders value.
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Wireless landline demand seen surging
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DEMAND for wireless landline service in the Philippines is projected
to surge as operators offer unlimited voice calls, the International
Data Corp. (IDC) said on Tuesday.
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Splash signs agreement
with Hong Kong distributor
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SPLASH Corp. announced on Tuesday that it signed an accord with a
Hong Kong-based firm for the distribution of its products in the
Chinese territory and in Macau.
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Toyota forecasts sales growth this year
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TOYOTA Motors Philippines Corp. is eyeing double-digit growth this
year, the company’s top executive said.
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iVantage injects fresh capital in Yehey
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IVANTAGE Corp. has infused fresh capital in its Internet search
engine unit, Yehey.com.
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Wipro to expand further in RP
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WIPRO Technologies, one of the world’s fastest growing outsourced
services and consulting companies has located in the country with
its first business process outsourcing (BPO) facility in Cebu City.
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Metrobank posts growth in ATM transactions
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METROPOLITAN Bank and Trust Co. announced on Tuesday that the use of
its automated teller machines (ATM) grew last year, pushing
transactions to exceed the P100-million mark.
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