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Thursday, June 05, 2008 |
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Inflationary pressures seen
to slow GDP growth this year
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The Economist Intelligence Unit (EIU) has
revised upwards its inflation forecast for the Philippines this year
as global oil prices are expected to continue their climb until next
year.
In EIU’s recent report, inflation or increase
of prices is likely to reach 6.8 percent this year from the original
forecast of 5.8 percent on expectations that global oil prices will
remain high at $106 a barrel.
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Monetary intervention will
not bring down prices–BSP
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Monetary instruments have limited effect on supply shocks caused by
rising oil and commodity prices, Bangko Sentral ng Pilipinas (BSP)
said a day before the Monetary Board’s policy meeting.
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ADB board approves loan
to fund Calaca plant upgrade
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THE Asian Development Bank has endorsed to its
board the loan proposed by Emerald Energy Corp. (EEC) to finance the
refurbishment of the Calaca coal-fired thermal power plant project
in Batangas.
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Funding for big-ticket infra projects OK’ed
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The board of the National Economic and Development Authority on
Tuesday approved multibillion-peso worth of big-ticket
infrastructure projects to be funded by foreign aid, documents from
NEDA showed.
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Royal take on OFW remittances
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PRINCE of the Netherlands said Wednesday the
country’s economic buoyancy could not be sustained by overseas
Filipinos’ remittances alone.
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Ashmore may need to make tender
offer to Petron shareholders–PSE
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The entry of Ashmore Group in Petron Corp. may
raise question arising from the pronouncement of the Philippine
Stock Exchange that the London-listed firm should also make a tender
offer to the refiner’s existing shareholders as dictated by law.
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San Miguel subsidiary gets tax perks for
hog-raising investment in Sumilao
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San Miguel Corp. subsidiary Monterey Foods Corp. will be granted tax
perks and other incentives by the Board of Investments for investing
in a hog-raising project in the conglomerate’s controversial
property in Sumilao, Bukidnon.
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PSE to seek SEC’s help to rid
of moribound brokers’ shares
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After failing to auction off the shares held by moribund brokerage
firms, the Philippine Stock Exchange will seek advice from the
Securities and Exchange Commission on the disposition of such shares.
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Tourism facility, mass housing
projects granted BOI incentives
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THE Board of Investment has approved tax and other perks for two
projects, a tourism facility and a mass housing project, located in
Parañaque City and Laguna.
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Aboitiz unit acquires Scanasia Overseas
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A UNIT of Aboitiz Transport Systems Corp. on Wednesday disclosed it
has purchased a supply chain company in a bid to expand its
operations.
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Smart bucks NTC’s proposed
interconnection rate
cap
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SMART Communications Inc. has opposed the regulator’s plan to
impose a cap on interconnection rates for short messaging service,
saying the proposal violates the law.
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BIZZ
FIZZ
By Rene Martel
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That’s entertainment plus–Pagcor style!
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WHEN Pagcor chairman and CEO Efraim Genuino put it about that he
aims to make the Philippines the next “Entertainment Center in
Asia,” eyebrows were indeed raised especially since Macau and
Singapore appeared to be racing ahead on that front.
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