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Thursday, January 31, 2008 |
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Govt completes 2008 foreign commercial borrowing
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Bangko Sentral nudges govt
to tap local fund sources
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THE Bangko Sentral ng Pilipinas (BSP) wants the
Department of Finance to review the government’s borrowing mix to
see if it could further trim the share of foreign loans.
The BSP resumed its pressure on the finance
department, as the government completed its foreign commercial
borrowing program for this year on Wednesday with the sale of
$500-million worth of bonds or IOUs maturing in 2023.
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BIR tax collection falls short of target
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THE Bureau of Internal Revenue (BIR) said Wednesday that its
collection last year fell short of the target.
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IMF lowers global economic growth
forecast, cites US-led financial crisis
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THE International Monetary Fund on Tuesday lowered its 2008 global
growth outlook, citing a US slowdown and financial market turmoil
that have put emerging economies at risk.
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Shares close higher as
investors chased bargains
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LOCAL share prices closed higher Wednesday as investors chased
bargains, encouraged by the upturn on Wall Street and anticipation
of another interest rate cut in the US, dealers said.
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UAE conglomerate to set
up logistics hub in Subic
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EMIRATI developer Jafza International and Economic Zones World has
signed an accord to develop a logistics hub in the Subic Bay
Freeport, north of the Philippine capital, it was announced
Wednesday.
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US-based Ayala BPO unit opens in Makati
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Live It Solutions Inc., the business process
outsourcing (BPO) arm of the Ayala group, has launched the
Philippine operations of its US-based subsidiary to capitalize on
the huge potential of Filipino knowledge workers.
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Group pushes renewable
energy sources to save on oil
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DEVELOPING the country’s vast potential for green energy sources
will redound to significant savings that can be used for much needed
basic services.
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Extension of Spratlys oil
exploration deal pushed
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The government should extend its joint survey with China and Vietnam
at the disputed Spratlys Islands while territorial issues are being
resolved, an industry group said.
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NEDA issues stricter rules
on infra project approval
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IN A bid to avoid delays in the implementation of projects, the
National Economic and Development Authority (NEDA) drafted an
executive order for stricter approvals and allocation of funds for
priority infrastructure projects.
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BPI profit up as remittance business grows
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CITING unaudited figures, Bank of the Philippine
Islands (BPI) announced on Wednesday that its profit last year grew
as revenues improved despite flat net interest income as spreads
narrowed for the period.
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Mall, BPO rentals boost
Robinsons Land’s earnings
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THE real-estate arm of JG Summit Holdings Inc. announced on
Wednesday that its profit last year surged on the back of higher
revenues derived from its mall operations and high-rise office and
residential division.
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Cebu Pacific to push through with expansion
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CEBU Pacific said it will pursue its expansion despite its decision
to postpone indefinitely a plan to raise funds through the maiden
sale of shares to the public.
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Basic Energy sets sights
on Benguet mining deal
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BASIC Energy Corp. is looking at acquiring a mine in Benguet
Province in line with its drive to revive its mining business.
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BIZZ
FIZZ
By Rene Martel
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Pepsi expects fizzy initial
public offering at PSE
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THE controversies that hounded the company all the way to the
corridors of jurisprudence (think “64”) now a thing of the
past—and with full court acquittal on the matter well and truly in
hand—Pepsi-Cola Products Philippines Inc. (PCPPI) expects to reap
P3.75 billion from its initial public offering that comes up on the
market tomorrow (February 1).
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