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Tuesday, March 04, 2008 |
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Blames banks’ unreasonable bids
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Govt fails to borrow short-term
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CITING unreasonably high rates, the government
on Monday failed to secure short-term borrowings after it rejected
all bids for debt papers scheduled for sale.
Had the government accepted banks’ bids, the
benchmark 91-day Treasury bill rate, which lenders use in pricing
their loans, would have risen to 4.959 percent from 3.673 percent
during the last successful auction of the three-month IOU on January
21.
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Japanese manufacturing firms in RP
project higher profits this year–Jetro
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DESPITE the US economic slow-down, Japanese
manufacturing firms in the Philippines expect profits to improve
this year on the back of higher export sales and improved production
efficiency, according to the Japan External Trade Organization (Jetro).
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Customs labor force questions Attrition Law
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AFTER failing to meet revenue targets last year, employees of the
Bureau of Customs on Monday filed a petition before the Supreme
Court questioning the constitutionality of a law that penalizes
collection shortfalls.
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Peso, stocks fall due to risk aversion in
US
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THE peso and local stocks fell on Monday on continued investor
concerns over the US’ economic woes.
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Many Filipino maritime graduates
unskilled, says global player
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ONLY 21 out of nearly a hundred maritime schools
in the Philippines deliver skilled graduates, according to one of
the world’s leading international ship managers.
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Debt prepayments decline
despite strenghtening peso
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LOAN prepayments made by the government and the private sector
dropped last year despite the peso’s strength vis-à-vis the
dollar, the Bangko Sentral ng Pilipinas (BSP) said.
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PSE approves liberalized rules on
listing
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The board of the Philippine Stock Exchange
approved on Friday the less stringent rules on listing by way of
introduction, which offer companies the alternative of joining the
bourse without the pressure of selling their shares immediately.
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Smart ties up with Saudi Arabian
bank for int’l remittance service
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SMART Communications Inc. has partnered with the National Commercial
Bank (NCB) of Kingdom of Saudi Arabia (KSA) in launching an
international remittance service utilizing the Smart Money platform,
the company announced Monday.
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Trans-Asia gives Rock Energy exclusive
right to run mining operation
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Trans-Asia Oil and Energy Development Corp. has inked a deal
granting the exclusive right to operate its mining concession in
Rizal to Rock Energy International Corp.
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Baguio ecozone to double
investments by end-Dec.
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The Baguio City Economic Zone Authority announced on Monday it would
double its investments by end-December.
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Digitel: Stop Globe’s cable
landing station in Cagayan
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DIGITAL Telecommunications Phils. Inc. on Monday asked the National
Telecommunications Commission to stop Globe Telecom’s construction
of a cable landing station in Ballesteros, Cagayan.
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MANAGING
FOR SOCIETY
By Benito L. Teehankee
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Listening and
reasoning
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The issues swirling around the NBN-ZTE Senate investigations make
for very interesting if not controversial discussions. I can’t
attend a meeting in my organization or outside without colleagues
stating very strong opinions about the case.
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