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Friday, May 16, 2008 |
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transfers propping up banks’ profits, says
Moody’s
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Remittances hit new
record
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MONEY sent home by millions of Filipinos working abroad rose 9.4
percent from a year earlier to $1.4 billion dollars in March, the
Bangko Sentral ng Pilipinas (BSP) said Thursday, adding this was the
highest monthly level to date.
This brought the inflows for the
first three months of the year to $4.0 billion, or 13.2 percent
higher than the year-ago level.
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San Miguel profit
up as units gain
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SOUTHEAST Asia’s largest food and beverage
conglomerate told the Philippine Stock Exchange that its
first-quarter net income rose on the back of higher revenues of most
of its units.
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RP climbs in
global competitiveness list, but lags behind peers
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THE Philippines ranked higher in terms of global
competitiveness this year, but still lagged behind its Asian peers,
according to the latest World Competitiveness Yearbook
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Metrobank net
income falls as foreign
exchange gains, lending gains dip
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METROPOLITAN Bank and Trust Co. (Metrobank) said its
first-quarter profit fell by double-digits on significant declines
in its foreign exchange gains and a slight reduction in its lending
income.
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Reformed VAT
revenue collections exceed target
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THE government surpassed last year’s collection
target for the reformed value-added tax (VAT) law, the Department of
Finance said Thursday.
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Universal Robina
enjoys double-digit earnings growth as sales rise
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THE maker of Jack ‘n’ Jill snack foods and C2 tea
drink reported on Thursday that its earnings in the six months
ending March this year climbed by double digits on the back of
higher sales.
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Ambuklao-Binga
plant owner secures financing
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The consortium led by the Aboitiz Group that won the
bidding for the Ambuklao-Binga hydroelectric power plants in a
state-auction has secured a multi-million dollar loan from the
International Finance Corp. to pay...
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First Holdings
profit drops
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Profits of First Philippine Holding Corp., parent
firm of Manila Electric Co., plummeted in first quarter due to huge
foreign exchange losses, exacerbated by increased finance charges
and higher taxes paid...
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Think tank says
local assemblers to require
support ahead of tariff easing
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To keep the automotive industry competitive when the
elimination of import tariff for completely built units (CBUs) takes
effect in 2010, the government needs to provide temporary measures...
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First Gen to
build new gas-fired power plants
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The plan of First Gen Corp. to put up another
natural-gas fired power plant may finally push through before the
year ends, the Lopez-controlled firm announced on the sidelines of
its annual stockholders’ meeting.
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ABS-CBN’s
profit falls, as GMA’s rises
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FIRST-QUARTER financial results of the two main
rivals in the Philippine broadcasting industry diverged, with ABS-CBN
Broadcasting Corp. reporting a fall in profits and GMA Network Inc.
registered gains.
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Manila Water
plans fresh borrowing
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MANILA Water Co. Inc. plans to borrow domestically
through the sale of bonds or IOUs for the expansion of its
distribution network.
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Globe expects
revenue boost from TM acquisition
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GLOBE Telecom Inc. on Thursday said that its
acquisition of Touch Mobile (TM) subscribers’ contracts will allow
it to offer flexible tariffs and promotional offerings.
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Manila Pen
secures tax incentives
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The Manila Peninsula Hotel Inc. has been granted tax
incentives and other perks by the Board of Investments (BOI) for the
renovation and modernization of parts of the hotel that were ruined...
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