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Monday, March 03, 2008 |
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Int’l financial community
warms up to spending hike
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DESPITE its vigilance over the Philippines’
budget deficit-reduction program, the international financial
community may be warming up to government plans to crank up
infrastructure and social spending to weather the US economic
slowdown.
The World Bank’s country director said
infrastructure and social service spending shouldn’t be sacrificed
at the altar of fiscal prudence.
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All eyes on record crude prices as world’s
oil cartel prepares to meet this week
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LONDON: OPEC, whose member countries together pump 40 percent of the
world’s oil, is expected to maintain its official output ceiling
on Wednesday as crude prices trade at record highs above $100.
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No tax holidays for
PLDT, Globe units–BOI
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THE Board of Investments (BOI) has turned down
the applications for fiscal incentives filed by units of the
Philippines’ two largest telecommunication companies.
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Regulator pushes for free
within-network texting
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TEXT messages within the same network may soon be offered free as
the National Telecommunications Commission (NTC) wants to cut
interconnection rates among mobile phone service providers.
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Telecom industry to grow
at modest pace, says Fitch
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THE Philippine telecommunications industry is projected to grow at a
modest pace this year as the traditional market is approaching
maturity, according to an international credit rating firm.
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Stock market to consolidate
if politics remains peaceful
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LOCAL share prices will consolidate with an upward bias in the
coming week, provided violence is avoided in the street protests
against President Arroyo, dealers said last Friday.
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Power-plant sale windfall to reduce
need for Napocor to rack up more debt
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HEFTY revenues generated from the sale of its generating plants may
reduce the need for state-owned National Power Corp. (Napocor) to
borrow money this year, the Department of Finance said.
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Costlier energy seen in nearterm
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GOVERNMENT efforts to speed up the implementation of open access in
the power sector is unlikely to bear fruit any time soon, according
to a former energy secretary.
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PSE to impose stringent listing rules
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Moratorium on small-scale mining set
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THE Department of Environment and Natural
Resources (DENR) is drafting a proposal to stop local governments (LGUs)
from issuing small-scale mining permits for iron ore and nickel to
contain conflicts between host communities and companies.
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Vista Land starts construction
of Makati luxury condo
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THE listed holding firm of the Villar group has started construction
of its luxury high-rise residential condominium in Makati under
Camella Prestige, the new unit of subsidiary Camella Homes &
Communities.
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SM group to build more
inns near shopping malls
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THE SM group, through unit Hotel Specialists Inc, will build two
inns by mid-year as part of its expansion in the industry.
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BSP gives lenders more
time to sell bad assets
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THE Bangko Sentral ng Pilippines (BSP) has given financial
institutions more leeway to sell their bad assets under a scheme
that grants them tax and other perks for such a sale.
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Thrift banks told to seek
self-regulatory status
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AMID a conflict between the Chamber of Thrift Banks and the
Philippine Dealing and Exchange Corp. (PDEx) over fees the latter
would charge for over-the-counter (OTC) transactions involving
government debt papers, the Bangko Sentral ng Pilipinas (BSP)
advised the lenders’ group to seek self-regulatory status.
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