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Friday, June 13, 2008 |
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BSP says pessimism to run
deep among consumers
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AMID higher inflation and eroding incomes,
pessimism will run deep among consumers for the rest of the year,
according to the latest survey of the Bangko Sentral ng Pilipinas (BSP).
In its Consumer Expectation Survey, the BSP said
the overall consumer confidence index dropped to -43.8 percent in
the second quarter, easing to -26.9 percent in the third quarter and
to -20.3 percent in the next 12 months.
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DMCI, First Balfour set to
construct LRT North extension
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THE joint venture of D.M. Consunji and First
Balfour will start the construction of a mass rail transit that will
run from Monumento in Caloocan City to North Avenue in Quezon City
next week, an official of the Light Rail Transit Authority (LRTA)
said.
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Current account surplus seen narrowing
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THE Philippines’ current account surplus will
narrow in the coming months due to a slowdown in overseas
remittances and higher inflation, the Hong Kong and Shanghai Banking
Corp. (HSBC) said.
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NEDA approves Pasig River rehabilitation
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THE board of the National Economic and Development Authority (NEDA)
has approved a multi-billion-peso project that will improve water
quality at the Pasig River, reduce health risks and enhance ferry
transportation operations in the area.
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Employment in privately
held businesses slows
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EMPLOYMENT growth in privately held businesses
slightly dipped this year, according to the Grant Thornton
International’s annual International Business Report.
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Lack of BIR personnel stalls
attrition law enforcement
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THE Bureau of Internal Revenue (BIR) is reluctant to implement the
Attrition Law, as the agency is faced with a lack of qualified
personnel to replace those who failed to meet revenue targets last
year, sources said.
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PSE greenlighted Sultan Mining initial public
offering, selling starts in two weeks
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The Philippine Stock Exchange has approved the maiden public
offering of Sultan Mining and Energy Development Corp. (Smedc),
which would be conducted two weeks from now.
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Proceeds earmarked for trimming debt
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Benpres to sell stake in MNTC
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BENPRES Holdings Corp. said it plans to cut its
debt in half within 2 years by raising money from the sale of shares
in its toll roads unit, among other fund-raising activities.
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Digitel fined for blocking
ETPI’s access to Internet
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THE National Telecommunications Commission (NTC) has ordered the
telecom unit of JG Summit Holdings, Inc. to pay a penalty of P200
for each day it blocked Internet access of Eastern
Telecommunications Philippines, Inc.’s customers.
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Citibank’s credit card unit seen
to sustain double-digit growth
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Citibank expects to sustain the double-digit growth of its credit
card business in the Philippines this year driven by higher usage
despite higher inflation.
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