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Wednesday, May 07, 2008 |
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Global slowdown, inflation
to damp telco expansion
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HIGHER food prices and a global slowdown will
damp growth in the Philippine telecommunications industry this year,
according to industry players and analysts.
The country’s two largest telecom companies on
Tuesday announced first-quarter profit increases, but remain
cautious on the outlook for the rest of the year.
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PLDT, Globe register double-digit profit
increases despite strong peso, prices
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THE country’s two largest telecommunication companies on Tuesday
said that first-quarter profits rose by double-digits, even as
operating earnings were hurt by rising prices.
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Govt fails to borrow long-term
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THE government failed to secure five-year
borrowings, after it rejected all bids for the Treasury bonds with
the said maturity on Tuesday.
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Pinoys top brand-conscious Asians
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UNTIL late last year, Filipinos were among
Asia’s most fashion-conscious, as they aspired for designer brands
like Calvin Klein and Louis Vuitton on the back of an expanding
economy, according to a Nielsen report.
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Holcim to upgrade RP facilities
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HOLCIM Philippines Inc. will increase its
capital expenditure this year to finance the rehabilitation of its
facilities around the country, the listed giant firm announced at
the annual stockholders’ meeting Tuesday.
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Semirara Mining to expand coal
production for foreign markets
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THE Consunji-led Semirara Mining Corp. will increase coal production
this year to serve the growing demand of its buyers abroad, the
company told its shareholders Tuesday.
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Malampaya royalties to
fund solar-energy projects
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THE provincial government of Palawan will allocate a sizeable chunk
of its royalties from the Malampaya natural gas field to fund a
solar home system (SHS) project for its power-starved residents.
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Belle’s net income falls, but
real estate operations post gains
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THE developer of high-end Tagaytay Highlands told the Philippine
Stock Exchange on Tuesday its net profits for the first three months
fell despite posting higher income from real estate operations.
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Manila Water net up on lower losses
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MANILA Water Co. Inc. said its first-quarter
profit grew by double-digits on the back of higher revenues and
lower system losses.
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Power business props up Aboitiz
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ABOITIZ Equity Ventures Inc. (AEV) announced on Tuesday that its
power business drove the group’s first-quarter profit higher.
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EDC hedges part of its yen obligations
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PHILIPPINE National Oil Co.-Energy Development Corp. (EDC) said it
has hedged the bulk of an outstanding yen-denominated obligation.
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SPi pushes back maiden share sale
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THE outsourcing unit of Philippine Long Distance Telephone Co. on
Tuesday said it pushed back its plan to sell shares for the first
time to the public due to market volatility and operational issues
in its medical transcription business.
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Metrobank unit secures borrowing
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METROBANK Card Corp. said it has secured funds through the sale of
fixed-rate corporate notes to expand its business and refinance its
existing obligations.
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VIEWS
FROM
A BRIT
By Mike Wootton
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China and the 2008
Olympics
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THE leader in this week’s Economist magazine addresses the
“Chinese rage” over the disruption caused to the world-wide tour
of the Olympic flame. It cites the rage as being “out of all
proportion to the alleged offenses”, an opinion with which I
agree.
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