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Friday, March 07, 2008

 

Oil reaches record, nears $105/barrel

SINGAPORE: Oil edged close to $105 a barrel in Asian trade on Thursday, touching another new record high after an unexpected drop in US stockpiles and OPEC’s rejection of calls to increase output.

Dealers said the continued weakness of the dollar was also helping drive crude prices, which have hit a string of records and led US President George W. Bush to urge the OPEC cartel to boost production.

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O T H E R   R E P O R T S

 

The Supreme Court, not the Senate, will still have the last word on the matter of Romulo Neri.

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A new witness with insider knowledge on the sharing of the alleged $41-million advances on the national broadband network project will appear at the continuation of the Senate inquiry into the project this Tuesday,...

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The Asian Development Bank (ADB) on Thursday said rampant corruption, political instability and poor revenue collections are the main culprits in the country’s worsening poverty incidence.

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Two Chinese-Filipino entrepreneurs are included on Forbes magazine’s billionaires’ list in 2007: airline and tobacco tycoon Lucio Tan and shopping mall magnate Henry Sy.

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ANALYSIS

A 2006 perception survey conducted by the Asian Development Bank (ADB) in Indonesia and the Philippines shows that 82 percent of respondents feel “corruption is to blame for waste in ODA.”

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Severino O. Frayna Jr., Benjie Dela Rosa
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