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Monday, July 14, 2008 |
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ANALYSIS
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Was BSP too slow in responding to inflation?
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THE Bangko Sentral ng Pilipinas (BSP) has been
in a lot of heat in recent months over its response to the surge in
prices.
In just a year, the country’s inflation rate
has risen by nearly five-folds to a 14-year high last month,
removing a key pillar of the country’s recent economic success.
The average increase in June prices accelerated to 11.4 percent from
only 2.3 percent last year.
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Govt mulls tapping expanded VAT proceeds to
subsidize transport sector
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THE government may use revenues from the
expanded value-added tax (E-VAT) on oil to subsidize the transport
sector.
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Lower House committee pushes
for increase in fuel excise tax
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THE Lower House Committee on Ways and Means is
pushing for an increase in the excise tax on petroleum products to
offset the proposed removal of the value-added tax (VAT) on those
commodities.
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Agencies trimming expenditures
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DESPITE President Arroyo’s order to jack up public expenditures,
government agencies have been under spending or delaying the
implementation of infrastructure projects, a source from the Bangko
Sentral ng Pilipinas (BSP) said.
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Shipping firms reducing passenger capacity
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SHIPPING companies are forced to reduce
passenger capacity to stay afloat amid rising crude prices and
creeping competition from budget airline carriers, the Maritime
Industry Authority (Marina) said.
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APEC trade ministers maintain
commitment to Bogor Goals
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Trade ministers of Asia-Pacific Economic Cooperation (APEC)
member-countries reiterated the need for regional economic
integration to achieve the targets prescribed in the Bogor Goals
approved by the 21-nation economic grouping.
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Philippines, the Netherlands
sign air service agreement
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THE Philippine air panel and its Netherlands counterpart recently
signed an air service agreement (ASA) to increase flight
entitlements going to Europe, the Civil Aeronautics Board said.
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Smart bucks cap on interconnection fees
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SMART Communications Inc. is bucking a
government plan to impose a cap on interconnection charges, saying
the resulting decline in revenues could put off its network
expansion.
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Alliance Global expects to seal deal
with Malaysian group soon
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ALLIANCE Global Group Inc. (AGI) said it will sign an agreement with
an affiliate of a Malaysian conglomerate this month to develop a
multibillion-dollar leisure and resort project in the 40-hectare
Manila Bay reclamation area.
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Insurance group appeals CTPL case
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THE Philippine Insurers and Reinsurers Association (PIRA) has asked
a local court to reconsider its earlier ruling allowing state-run
Government Service Insurance System (GSIS) to handle the country’s
compulsory third-party liability (CTPL) insurance program.
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Firm sees take up of mass housing improving
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SOLAR Resources Inc. said lower and middle class housing projects
will pick up this year despite inflation.
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Bank offers advice on wealth
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AMID the difficult economic environment, Metropolitan Bank &
Trust Co. said it is offering a wealth management service to handle
clients’ personal investments.
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Oil prices to determine
direction of stock market
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GLOBAL oil prices will likely determine the direction of the
Philippine stock market in the coming week, dealers said on Friday.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Variability: Why mass
inspection is irrelevant
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TRY this simple test. Check this article or any professionally
written reading material. Count the number of letter “t”—both
upper and lower case. Note down how many you have counted.
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Full
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