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Wednesday, July 09, 2008 |
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Commercial vehicle purchases contract
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High inflation deflates auto sales
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THE unabated rise in gasoline prices finally
took its toll on motor vehicle purchases, with local assemblers
reporting a decline in sales last month.
The Chamber of Automotive Manufacturers of the
Philippines Inc. (Campi) said Tuesday that June sales fell 1.2
percent to 10,772 units from the 10,900 sold in May.
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NEA allots power subsidy
for rural households
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STATE-RUN National Electrification
Administration (NEA) has allocated a multimillion-peso electricity
subsidy for poor households in provinces across the country.
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No price spike from tax relief,
says Bangko Sentral
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THE Bangko Sentral ng Pilipinas (BSP) said a new
tax relief measure for individuals and corporations is unlikely to
cause a spike in the prices of goods and services.
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DBCC expects growth to pick up next year
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PHILIPPINE economic managers expect growth to
pick up pace anew in the next two years after this year’s slowdown
on account of higher commodity prices.
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Government sets retail sale
of debt papers end of the month
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THE Bureau of Treasury said it will sell retail Treasury bonds (RTBs),
which are IOUs meant to be sold to small investors at the end of the
month.
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Stocks close higher, but peso falls
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LOCAL share prices closed higher Tuesday as oil prices eased, but
investors overall remained cautious, dealers said.
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Philippine banks unlikely to maintain high
lending growth, Fitch Ratings says
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Fitch Ratings Inc. said Philippine banks are unlikely to maintain a
high lending growth as they are bogged down by a challenging
operating environment and lack of sustainable earning assets of
banks.
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Sea travel slows, as cargo contracts
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THE number of Filipinos traveling by sea grew at
a single-digit rate in the first four months of the year owing to
stiff competition with budget airlines, the Philippine Ports
Authority (PPA) said.
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NGOs badger G8 nations
for debt cancellations
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THE Freedom from Debt Coalition (FDC) and other nongovernment
organizations on Tuesday asked G8 countries to cancel payments for
Philippine debts that have not benefited Filipinos, saying the
government could use the money for projects related to agriculture,
education and health.
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Aboitiz Power to use bulk of
IPO proceeds for acquisitions
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ABOITIZ Power Corp. (AP) said that about two-thirds of its initial
public offering (IPO) proceeds last year were used for acquisitions.
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Galoc oil production to kick off this week
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After several delays, oil production from the
Galoc field is expected to kick off this week, said officials from
the Energy department and the consortium running project.
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Jollibee chairman joins
PLDT board as director
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THE chairman of Jollibee Foods Corp. (JFC) has joined the board of
Philippine Long Distance Telephone Co. (PLDT).
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SEC approves PCI Leasing
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THE Securities and Exchange Commission (SEC) has approved the
application to change the corporate name of PCI Leasing and Finance,
Inc. to BDO Leasing and Finance, Inc., according to Banco de Oro (BDO).
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