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Thursday, May 08, 2008 |
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Oil refiner’s profit dips despite record crude
prices
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Gokongweis want Petron
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THE Gokongwei group wants to acquire a
substantial interest in the Philippines’ largest oil refiner,
government and company source said on Wednesday.
The separate announcements by the Department of
Energy and JG Summit Holdings Inc. came on the day Petron Corp.
disclosed that its first-quarter profit fell by a third to P658
million from the same period last year due to lower refining
margins.
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Ayala Land net rises on home sales
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AYALA Land Inc.(ALI) announced on Wednesday that
its first-quarter profit jumped on the back of higher revenues from
its residential and construction businesses.
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RP reserves grow despite risk aversion
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THE country’s dollar reserves continued to
grow at double-digits last month compared with a year ago, the
Bangko Sentral ng Pilipinas (BSP) said.
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BIR sets tax rates on maiden share sales
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THE Bureau of Internal Revenue (BIR) has imposed
a new schedule of tax rates on the sale of shares through an initial
public offering (IPO).
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Procter & Gamble opens distribution
center for local, export sales
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PROCTER and Gamble (P&G) Philippines Inc. has opened a new
distribution center in Cabuyao, Laguna, in a move to build up its
domestic and export capacity, the company announced Wednesday.
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Power outages cut Globe’s
growth in Visayas-Mindanao
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GLOBE Telecom Inc. on Wednesday said it lost
potential subscribers in the first quarter of the year owing to
network disruptions caused by power outages in the Visayas and
Mindanao.
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Govt awards oil, gas exploration contracts
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THE Department of Energy yesterday awarded five petroleum
exploration service contracts that were auctioned two years ago to
four oil companies.
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Customs exceeds April revenue goal
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AFTER a negative performance in January to March, the Bureau of
Customs (BOC) announced Wednesday it exceeded its collection target
for April.
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Manila Water marks projects’ completion
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MAYNILAD Water Services Inc. has announced the completion of its
multi-billion peso projects aimed at increasing water supply and
pressure in the southern part of Metropolitan Waterworks and
Sewerage System’s West Zone concession.
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SM Prime profit growth
slows amid high inflation
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THE Philippines’ largest mall owner and
operator announced that its first-quarter profit rose at a slower
pace this year.
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Maynilad, Landco shore up Metro Pacific’s
first-quarter net income
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METRO Pacific Investments Corp. (MPIC) on Wednesday said its profits
for the first three months this year fell due to the absence of
extraordinary gains recorded last year.
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New Calaca power plant owner seeks loan,
political risk guarantee from ADB
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A UNIT of Belgian firm Suez-Tractebel S.A. is seeking loan
assistance from the Asian Development Bank (ADB) to finance the
refurbishment of the Calaca coal-fired thermal power plant.
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PLDT unit sets capex for DTH rollout
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A UNIT of Philippine Long Distance Telephone Co. (PLDT) has set
aside more than half a billion pesos this year for the rollout of
its direct-to-home (DTH) satellite television service.
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BIZZFIZZ
By Rene Martel
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Cinematic aid from
PLDT-Smart Foundation
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AN initiative of the PLDT-Smart Foundation—named Cinemabuhay—created
to help the Philippine movie industry move forward, has announced
the film “Cul de Sac” as recipient of the 2008 Cinemabuhay grant
amounting to P1 million.
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