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Monday, May 12, 2008 |
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Q1 performance to match
last year’s growth–Finance
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PHILIPPINE economic growth in the first three
months of the year will match the record attained in the same period
last year, the Department of Finance said.
Finance Undersecretary Gil Beltran said the
economy, as measured by the country’s gross domestic product
(GDP), may have expanded between 6.5 percent and 7 percent in the
three-month period, matching the 6.9 percent of last year.
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Biggest bank in China seen
to expand in Philippines
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AFTER infrastructure, agriculture and telecommunications, China
wants to establish a presence in the Philippine banking industry.
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Stock market rally likely
to continue this week
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LOCAL share prices will likely rise further this week following a
technical rally that began last week, dealers said on Friday.
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Foreign investors may return
to emerging economies–BSP
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THE Bangko Sentral ng Pilipinas (BSP) expects
capital inflows to return to emerging economies like the Philippines
as the global credit crunch eases.
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Finance orders to suspend
BIR’s new tax rule on insurers
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THE Department of Finance ordered the suspension of a Bureau of
Internal Revenue (BIR) circular imposing new taxes on insurance
companies after receiving several complaints from industry players.
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Cebu Pacific bags tax incentive,
other perks for fleet expansion
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CEBU Air Inc. has bagged tax incentives and
other perks from the Board of Investments (BOI) for the company’s
plan to acquire brand new aircraft in the next two years.
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Sultan cashes in on demand for coal
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SULTAN Mining & Energy Development Corp. said it is cashing in
on the rising cost of bunker fuel, which has created a new market
for coal among manufacturers in Mindanao such as tuna canneries,
paper and textile firms.
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Genco gets BOI perks for
multi-billion peso power plants
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A COMPANY planning a multi-billion peso investment in the power
sector has secured tax incentives and other perks from the Board of
Investments (BOI).
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Maynilad taps foreign firms
for water-loss reduction
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MAYNILAD Water Services Inc. is set to sign
agreements with foreign technical partners to improve its water-loss
reduction program and find new sources of water for its customers in
south Metro Manila.
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EDC plans nationwide wind power projects
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PHILIPPINE National Oil Co.-Energy Development Corp. (EDC) plans to
put up wind power projects across the country, one of the
company’s directors said.
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Bayan wireless service
trumps rivals in survey
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AMID rising food prices, people in Metro Manila prefer a telecom
service provider that offers cheaper rates and a wide coverage
network, according to a survey.
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Authority gives nod to
SM North Annex station
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SM Prime Holdings Inc. and state-run Light Rail Transit Authority (LRTA)
are finalizing an agreement for the construction of an additional
station for the Light Rail Transit Line 1 (LRT 1) North Extension
project in Quezon City.
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GSIS thrift unit to expand,
eyes medium-sized
bank
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GSIS Family Savings Bank plans to acquire a medium-sized lender to
expand its operation in the medium term.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Profound Knowledge:
Wholesale electric disaster
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TODAY, we start the work week by answering the basic ethical
question in management—is it OK to screw down our workers in the
name of the company’s survival?
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Story>>
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