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Tuesday, May 06, 2008 |
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Meralco’s profit
grows
by double-digits in first quarter
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By Euan Paulo C. Añonuevo Reporter
THE Philippines’ largest
electricity distributor said profits in the first quarter rose by
double-digits from last year on the back of lower expenses and
higher distribution revenues.
In a disclosure to the Philippine
Stock Exchange (PSE), Manila Electric Co. (Meralco) said it enjoyed
a 23.2 percent growth in net income to P655 million year-on-year.
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Govt debt payments
rise despite lower interest rates, strong peso
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GOVERNMENT debt payments increased in the first three
months of the year despite lower interest rates and the rapid
appreciation of the peso, Bureau of Treasury data showed.
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Stock market
climbs on bargain-hunting
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LOCAL share prices closed higher Monday as investors
chased bargains ahead of the release of key corporate results,
dealers said.
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Govt may forego
Petron buyback
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THE government may waive its right to buy Saudi
Aramco’s entire stake in Petron Corp., official sources said
Monday. Aramco Overseas Co. earlier sold its 40-percent
shareholdings in the Philippines’ largest oil refiner...
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Google wins after
Microsoft drops Yahoo bid
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NEW YORK: Microsoft’s failed attempt to buy Yahoo
will send it searching for new allies and likely see Yahoo’s share
price plummet, leaving Internet giant Google the big winner,
analysts said.
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BSP sees bank
lending to pick up despite high inflation
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BANK lending will sustain its growth this year
despite high inflation, Bangko Sentral ng Pilipinas (BSP) said based
on its quarterly survey of consumer and business expectations.
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A day before IPO closes
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Domestic investors
lap up SMB shares
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LOCAL investors scrambled to buy shares of the
Philippines’ biggest beer
maker, as the offering was already sold out ahead of its closing
today, its underwriters said.
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Aboitiz Transport
unit’s losses widen
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THE transport unit of the Aboitiz group said its
losses surged in the first quarter on weak passenger revenues and
higher expenses.
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Sutherland Global
to expand in rural RP
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A New York-based multinational company engaged in
information technology and business process outsourcing in the
Philippines plans to increase its call-center seats here by more
than two-fold.
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TKC Steel profits
surge on sales of new acquisition
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TKC Steel Corp. reported that its net income last
year surged on the back of higher sales volume and better management
of expenses.
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MANAGING FOR SOCIETY
By Ben Teehankee DBA
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Managers, labor
and productivity
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GMA did not announce a minimum wage increase on Labor
Day this year. Instead, she has asked the wage boards to work
“overtime” to decide on pending wage-increase petitions.
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BIZZ FIZZ
By Rene Martel
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US Food Stamp
Program the way forward
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SINCE the subject of food (or scarcity of it) is the
flavor of the month—at least as a talking point—a lawmaker from
Mindanao (which traditionally is considered as the breadbasket of
the Philippines) is boldly suggesting...
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