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Thursday, March 06, 2008 |
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Consumer price
increases accelerate on oil
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By Darwin G. Amojelar Reporter
CONSUMER price increases
accelerated to a 16-month high last month due to costlier oil and
food. The National Statistics Office (NSO) reported that inflation
in February went up to 5.4 percent from 4.9 percent in January as
higher rates were posted in all commodity groups except in fuel,
light and water. Inflation a year ago stood at 2.6 percent.
The February figure was near the
high-end of the Bangko Sentral ng Pilipinas’ (BSP) forecast range
of between 4.8 and 5.5 percent.
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OPEC set to snub
Bush pressure to hike output
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VIENNA: OPEC, meeting here Wednesday, was set to
leave oil output unchanged despite fresh calls by US President
George W. Bush for an increase in supply to help bring down soaring
energy prices.
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US companies to
invest in RP biofuel ventures
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TWO American companies in the renewable energy sector
will tie up with Filipino investors to develop the Philippines’
emerging bioethanol and coco-diesel industries, the Department of
Agriculture said on Wednesday.
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BIR batting
average in resolved tax cases higher
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THE Bureau of Internal Revenue (BIR) said Wednesday
that it won majority of its tax assessment cases, resulting in
additional collections last year.
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Stock market
slides on inflation fears, US woes
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LOCAL share prices closed slightly lower Wednesday,
as investors worried about rising inflation and Wall Street’s
continuing volatility, dealers said.
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PLDT to acquire
more telcos
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PHILIPPINE Long Distance Telephone Co. (PLDT) plans
to acquire more telecom-related businesses this year, according to
the chairman of the country’s largest telecom company.
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Fitch: Weak
capital to hound PNB-Allied Bank merger
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FITCH Ratings said on Wednesday that the possible
merger of Philippine National Bank (PNB) and Allied Banking Corp. is
“positive in the long run” but both lenders still suffer from a
high level of bad assets...
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BayanTrade to sell
shares to the public by May 2008
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A COMPANY that supports other firms’ supply chain
management will brave the volatile stock market as it plans to sell
its shares to the public for the first time this May.
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Metro Pacific
borrows anew to retire
convertible debt, keeps stake in water firm
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METRO Pacific Investments Corp.(MPIC) told the
Philippine Stock Exchange on Wednesday that it secured a new loan to
retire an existing convertible loan that may be traded in for shares
in DMCI-MPIC Water Co. (DMWC).
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Aboitiz Power
profit up on plant purchases
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ABOITIZ Power Corp. said its profit more than doubled
last year on the
back of strong sales from its power distribution and generation
businesses.
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Seaoil commences
retail expansion
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SEAOIL Philippines has commenced with its planned
expansuion for the year with the opening of six new stations in
various parts of the country.
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Premier hikes
capital for acquisition
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PREMIER Entertainment Productions Inc. disclosed to
the Philippine Stock Exchange on Wednesday that it will raise its
authorized capital stock to make way for the purchase of an online
gaming firm.
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Automatic Centre
opens one-stop-shop outlet
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AUTOMATIC Centre recently opened its biggest
one-stop-shop that will cater to the needs of condominium residents
and families of overseas Filipino workers (OFWs).
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BIZZ FIZZ
By Rene Martel
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Nokia and Natori
fuse fashion and technology
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WHEN technology meets elegance—and all in the name
of fashion—then you can be assured it’s the “Art of Natori.”
That, by the way, is also the name of a coffee table tome that the
lady herself...
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