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Friday, July 04, 2008 |
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Philippines, Libby’s Fruits sign
35-year supply contract
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AN AMERICAN fruit canner will invest in the
Philippines, according to the Department of Trade and Industry
(DTI).
On the sidelines of the signing ceremony for a
food security program, Trade Secretary Peter Favila told The Manila
Times that Libby’s will put up a half a billion dollar project in
the country within the year.
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Investment pledges surge in first five months
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INVESTMENT pledges registered with the Board of
Investments and the Philippine Economic Zone Authority in the first
five months this year more than doubled, the Department of Trade and
Industry said.
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Peso, stocks fall to fresh 9-month low
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THE peso fell sharply on Thursday, closing to a fresh nine-month low
ahead of the release of the June inflation data.
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Government sees first-half
budget deficit on track
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THE Department of Finance said the
government’s first semester budget deficit remains on track amid
the positive performance of the two main revenue-generating
agencies.
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Extremely costly oil prices
feared to slow growth
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EXTREMELY expensive oil and food could bring the
country’s inflation rate to average near double-digit levels and
the economy to slump this year, a market research firm warned
Thursday.
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BSP seen to raise rates as inflation picks up
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CONSUMER price increases will pick up further in the second half,
prompting the Bangko Sentral ng Pilipinas (BSP) to raise its key
interest rates, according to a United States-based financial
services company.
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Lower power rates in ecozones seen
as Meralco drops case vs. Peza
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Power rates in the country’s economic zones
are set to go down with the decision of the Manila Electric Co. to
resolve its issues with the Philippine Economic Zone Authority (PEZA),
the company and the Department of Energy concurred Thursday.
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Finance forecasts higher
revenue windfall from oil
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AS the government is set to remove tariff on oil due to high prices
in the world market, the Department of Finance expects more revenue
windfall from value-added tax on petroleum products.
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Manila Water wins bid for Vietnam’s
leakage reduction, metering project
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Manila Water Co. has officially been awarded a water leakage and
metering project in Vietnam.
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Meralco to buy power from Philippines’
first waste-to-energy recycling facility
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A methane-fired power plant that will source its “clean” energy
source from a dumpsite will start operations in Rizal province this
July.
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RP needs cheaper fuels,
oil price watchdog says
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As oil prices continue to escalate worldwide, so does the public’s
need for measures to help them cope with the soaring price of
electricity and fuel become ever more pressing.
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San Miguel, Kuok group to invest in Philippine
food-security projects
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SAN Miguel Corp. (SMC) has entered into a joint
venture with the Kouk Group of Companies for a $1-billion investment
in various agricultural developments aimed at addressing the
Philippines’ food-security problem.
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NTC sees telcos posting lower
income per mobile-phone user
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THE National Telecommunications Commission (NTC) expects telecom
companies to post lower income per mobile-phone user this year owing
to costlier food and fuel.
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Alliance Global to build Villamor base hotel
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THE Alliance Global Group Inc. (AGI) said on Thursday that it is set
to build the Philippines’ first all-suites hotel in Newport City
inside the Villamor Air Base.
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