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Monday, July 07, 2008 |
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Govt clueless on peso’s drift
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ECONOMIC managers expressed differing views on
where the peso is headed for the rest of the year, with the Bangko
Sentral ng Pilipinas (BSP) optimistic about an improvement but the
Department of Finance seeing the government’s widening fiscal gap
dampening the local currency.
Last week, the Philippine unit was slipping
halfway towards the 46-to-a-dollar level, on growing risk aversion
and higher-than-expected inflation. Economic managers project the
peso’s value to range from 42 to 45 for every dollar this year.
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ADB, RP extend partnership strategy
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THE Asian Development Bank (ADB) said it has
extended its existing Philippine funding program by two years to
support the country’s medium-term development plan.
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iPhone’s Asian prospects uncertain
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HONG KONG: Mancy Li wants to get her hands on Apple’s newest
version of the iPhone, but she won’t bother to queue up in Hong
Kong when it is released in Asia this week.
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House body drops revisions to Epira
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The House committee on energy has decided to drop proposed
amendments to the country’s power sector restructuring and reform
program amid growing protests from industry players.
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Oil majors struggle to find
reserves amid record prices
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MADRID: Despite record crude prices, the major oil companies are
struggling to access resources that are being jealously guarded by
national companies with whom they are forced to establish
partnerships.
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Cable piracy in RP rampant
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THE Cable & Satellite Broadcasting
Association of Asia (Casbaa) said cable piracy remains rampant in
the Philippines, costing the government and the industry hundred
millions of dollars a year.
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Foreign investors still upbeat,
says central bank
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THE Bangko Sentral ng Pilipinas (BSP) said investors have expressed
confidence that the country can sustain strong growth despite
challenges brought by global economic downturn.
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NTRC pushes for new tax agency
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A STATE-RUN think tank is pushing for the creation of an independent
revenue authority to replace the Bureau of Internal Revenue (BIR).
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New PCCI president lays down priorities
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The newly elected president of the Philippine Chamber of Commerce
and Industry (PCCI) said the business group would sustain the
momentum of its 122 years of existence by boosting the Filipinos’
global competitiveness.
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Science dept launches
R&D program for peanuts
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THE Department of Science and Technology (DOST), through its unit,
Philippine Council for Agriculture, Forestry and Natural Resources
Research and Development (Pcarrd) is launching an R&D program to
boost the quantity and quality of peanut production in the
country.
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Ayala Land to complete
projects despite inflation
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THE Philippines’ biggest real-estate developer
is still bullish about completing its ongoing projects this year,
amid the soaring prices of construction materials.
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Sale of Food Terminal Inc.
property may be put off
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THE sale of the Food Terminal Inc. (FTI) property in Taguig City may
be put off due to the volatile market, according to the Department
of Finance.
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CURE sets capex for rollout of mobile service
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A UNIT of Smart Communications Inc. plans to spend hundreds of
millions of pesos over five years to finance the rollout of its
advertising-funded mobile platform service.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Delphi technique:
Who gets heard and why
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CORPORATE problems are better solved when done as a group activity.
It’s not like in politics where every politician feels free to
exercise his right, as spelled out in the Philippine Constitution,
to do whatever he wants to do in the manner reflecting his own
individual and unique feelings, the result being that you’ll hear
a wide variety of complaints from taxpayers.
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