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Tuesday, March 18, 2008 |
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Despite BSP’s cooperation
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Short-term debt eludes govt anew
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THE government on Monday failed anew to secure
short-term borrowings from the auction of Treasury bills despite
last Thursday’s decision by the Bangko Sentral ng Pilipinas (BSP)
to shut down some of the windows of its Special Deposit Account (SDA).
Financial market players had blamed the SDA for
the government’s failure to secure short-term money during the
regular T-bill auctions since the BSP facility, which offered higher
rates, had been luring investors.
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RP enjoys dollar surplus
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BUOYED by strong remittances from overseas Filipino workers (OFWs),
export receipts and foreign investments, the country enjoyed a
dollar surplus in the first two months of the year, the Bangko
Sentral ng Pilipinas (BSP) said Monday.
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Local stock market plunges to lowest level
in a year on fears of widening crisis
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THE stock market fell to its lowest level in
over a year in step with other Asian bourses, which tumbled due to
uncertainties on how deep and long the global financial crisis will
run and last, analysts said.
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Adb to extend funding
support for government
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THE Asian Development Bank (ADB) will extend its development policy
program support for the Philippines, an official of the multilateral
lender said Monday.
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Loss provisions cut Meralco profit
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MANILA Electric Co. (Meralco) said its
profit last year fell to about a third of the previous year
due to an earlier Supreme Court ruling in favor of the company
allowing it to stop setting aside funds for probable losses.
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Aboitiz Power poised to list more shares
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ABOITIZ Power Corp. wants to increase its listed shares at the local
bourse for the company’s acquisition of stakes in several
distribution utilities.
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Globe warns on reduced VoIP access rate
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GLOBE Telecom Inc. said the proposed cut in the access charges for
voice over Internet protocol (VoIP) services may have adverse
economic effects.
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ERC: Gencos observe fair competition
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The Energy Regulatory Commission said no power company is found to
be in violation of the market cap set for generating capacity.
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ATR KimEng major shareholder forms strategic
partnership with Mitsubishi
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ATR KimEng Financial Corp. (ATRKE Financial) announced on Monday
that a Japanese firm will increase its stake in the company’s
largest shareholder in light of the two entities’ collaboration in
equity brokerage and asset management businesses.
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