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Saturday, May 17, 2008 |
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Foreign interest in stocks, peso assets still down
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End-April dollar
surplus rises
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By Maricel E. Burgonio Reporter
THE country enjoyed a higher
dollar surplus in the first four months this year on strong
remittances, export receipts and the proceeds from a government
borrowing and power plant sale, according to the Bangko Sentral ng
Pilipinas (BSP).
BSP data showed that the
country’s balance of payments (BOP) surplus rose to $499 million
last month, causing the first four months’ dollar surplus to hit
$2.134 billion, higher than the $1.700 billion in the same period
last year.
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Petronas pulls out
of RP on zero gas find
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PETRONAS has pulled out of the Philippines after
finding insignificant petroleum reserves in its service contract
(SC) area in offshore Mindoro.
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PNOC-EC profit
jumps by half on Malampaya
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PHILIPPINE National Oil Co.-Exploration Corp. (PNOC-EC)
said its profit jumped by half in the first quarter of the year
because of higher gas and coal sales.
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BIR raises tax
effort goal to press collection increase among units
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TO pressure revenue districts to collect more, the
Bureau of Internal Revenue (BIR) has raised its tax effort target
this year on the back of the higher collection goal set by
Philippine economic managers.
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Stock market ends
week tepid on news of wage hike
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LOCAL shares closed little changed Friday after
investors took profits following a seven-day rally and in the
absence of strong domestic leads, dealers said.
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Weak peso,
volatile markets pull Gokongwei group’s net
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Net income of the Gokongwei family’s JG Summit
Holdings Inc. dropped in the first quarter of the year, citing the
weakening peso and volatile capital markets as reasons in a
statement Friday.
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Real estate sales
lift Robinsons Land’s profit
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Robinsons Land Corp. (RLC)’s net income for the
quarter ending March grew by over a fourth year on year as revenues
from the company’s new projects kicked in.
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Sale of govt’s
Petron stake likely in second semester
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THE government will consider market conditions and
its cash position in the second semester of year before deciding on
any move for its remaining shares in the Petron Corp., the
Department of Finance said Friday.
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PNB turns in
double-digit income gain
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The Philippine National Bank (PNB) posted
double-digit growth in net income this year driven by corporate and
retail banking business.
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Psalm turns over
Manila Thermals
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The Power Sector Assets and Liabilities Management
(PSALM) Corp. has turned over the decommissioned Manila Thermal
Power Plant (MTPP) to its new owner, Malaysian firm Gagasan Steel.
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Jollibee profit
falls on costlier raw materials
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JOLLIBEE Foods Corp. (JFC) on Friday
announced that its net income fell by a
tenth in the first quarter of the year on costlier raw
materials.
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Filinvest Land
net income jumps on sales, rentals
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FILINVEST Land Inc. (FLI) registered a significant
increase in first-quarter profits, rising by nearly half from a year
ago on the back of higher gains from its real-estate business.
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Benpres earnings
dip as units earn less
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BENPRES Holdings Corp. on Friday announced that its
net income fell sharply in the first three months this year on lower
earnings of its subsidiaries.
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LEARNING &
INNOVATION
By Moje Ramos-Aquino, FPM
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What should we do
when the lights go out?
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ONE person who would rather light a candle than curse
the darkness is Jackson Sia.
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