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Saturday, July 12, 2008

 

Fresh fare hike may fuel higher inflation–BSP

By Maricel E. Burgonio, Reporter

THE Bangko Sentral ng Pilipinas (BSP) is not discounting the possibility of inflation accelerating even further this year in light of a fresh increase in public transport fares.

BSP Gov. Amando Tetangco Jr. said monetary authorities are likely to revise their inflation forecast for this year due to the new wave of fare adjustments. The BSP earlier said inflation would peak at 11 percent to 12 percent in the third quarter of the year, before easing well into next year.

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O T H E R   R E P O R T S

 

THE government of South Australia is courting skilled Filipinos to migrate and work Down Under.

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AFTER several delays, state-run Power Sector Assets and Liabilities Management Corp. (PSALM) said it would meet its privatization threshold under the government’s power sector reform program in three months’ time.

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THE government has set the minimum volume for its planned borrowing through the retail sale of Treasury bonds or IOUs.

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LOCAL share prices closed lower Friday on continued concern over the state of the US economy, dealers said.

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Multilateral lender Asian Development Bank (ADB) will provide technical assistance to a Philippine company eyeing to set up a wind power project in the country.

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After Palace order

THE Department of Energy expects to award another geothermal and at most five coal exploration contracts in the coming weeks.

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Metrostar Ferry Inc. that operates a line between Mall of Asia (MOA) in Pasay City and Cavite City will link up with the Pasig River Ferry to expand destinations.

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Ford Motor Company Philippines is optimistic about meeting its sales targets this year, especially about moving its fuel-efficient cars, said its president, Rick Baker.

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Japanese, South Korean and Philippine investors have set up a pilot project to develop biofuels in Mindanao, officials said Friday.

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THE Department of Agriculture on Friday announced that palay growers and other small farmers may avail themselves of low-interest loans to be secured by Agricultural Guarantee Fund Pool (AGFP).

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BANK of the Philippine Islands (BPI) secured its leading position in the remittance business, having recorded the biggest volume of transactions last year, according to the Bangko Sentral ng Pilipinas (BSP).

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MEGAWORLD Corp. expects multibillion-peso sales from the partnership it entered with two Koren real estate companies for its latest residential tower at the McKinley Hill township project in Fort Bonifacio Global City.

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LEARNING & INNOVATION
By Moje Ramos-Aquino, FPM

“We have only about 50 seats in the ground floor dining area and 120 upstairs, but we gross an average of P70,000 per day. We used to do a minimum of P110,000 before the Quezon City government started digging..

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Severino O. Frayna Jr., Benjie Dela Rosa
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