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Thursday, March 13, 2008 |
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JOB losses expected on
Strong peso, weak manufacturing
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RP smitten by Dutch
disease–PIDS
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By Darwin G. Amojelar Reporter
A STATE-RUN think tank said the
Philippines may be smitten by the
dreaded Dutch disease, citing the peso’s strength alongside a weak
manufacturing sector, which is a prelude to an economic slowdown.
The Dutch disease afflicted the
Netherlands during the 1960s when the discovery of vast natural gas
reserves caused massive foreign exchange inflows, which in turn
drove up the value of that country’s currency, eroding the
competitiveness of its exports and wiping out jobs in the sector.
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Oil price bubbles
near $109 a barrel
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SINGAPORE: Oil prices were close to $109 in Asian
trade on Wednesday, underpinned by the dollar’s dive to a new low
against the euro and supply concerns, dealers said.
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Peso dips as
stocks recover on Fed stimulus
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THE peso weakened further Wednesday due to continued
volatility brought about by the US economic difficulties, but the
local stock market got a whiff of support from Wall Street’s
overnight rise.
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Govt trims debt as
weak dollar allows
prepayment of foreign obligations
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THE government cut its debt last year as it prepaid
obligations to take advantage of the peso’s strength vis-à-vis
the dollar.
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Bangko Sentral
seento keep key rates steady
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THE Bangko Sentral ng Pilipinas (BSP) is seen to
leave its key overnight rates unchanged, as monetary authorities
shrugged off its US counterpart’s recent effort to pump more
liquidity into the world financial system.
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San Miguel Brewery
cuts IPO price range
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EVEN as a growing number of firms had pushed back
plans to sell shares
for the first time to the public, San Miguel Corp.’s domestic
brewery unit said it would push through with its own Initial Public
Offering (IPO),...
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NEDA approves
Panay transmission cost overruns
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THE National Economic and Development Authority (NEDA)
Cabinet Committee has approved the increase in the cost of the
Northern Panay Backbone Transmission project by more than a third.
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FCDU deposits,
loans rise in January
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DEPOSITS with the country’s Foreign Currency
Deposit Units (FCDU) increased in January due to the growth in both
resident and nonresident placements, the Bangko Sentral ng Pilipinas
(BSP) said.
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Despite record gold prices
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Lepanto incurs
more losses in 2007
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DESPITE record gold prices, Lepanto Consolidated
Mining Co. said it incurred more losses on lower production
compounded by the strong peso, which cut revenues.
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NTC nod on Piltel
sale apt–PLDT
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PHILIPPINE Long Distance Telephone Co. (PLDT) said
its acquisition of Pilipino Telephone Corp. (Piltel) requires no
Congressional approval.
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Non-carbonated
drink sales lift Pepsi net
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PEPSI Cola Philippines Inc. told the Philippine Stock
Exchange on Wednesday that its profit during the first six months of
its fiscal year 2008 inched up on higher sales volume, particularly
of its non-carbonated drinks.
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Allied Bank
converts debt to shares, increases capital
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ALLIED Banking Corp. disclosed to the Philippine
Stock Exchange on Wednesday that its shareholders approved the
conversion of part of its debt to common shares...
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BIZZ FIZZ
By Rene Martel
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Real estate merger proof of bullish sector
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PROVING that the local realty market is bullish as
ever, two of the brightest stars in the Philippine real estate
services constellation— Jones Lang LaSalle Inc.
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