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Tuesday, May 27, 2008 |
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Finance rules out change in borrowing tack
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THE Department of Finance said any changes to
the government’s borrowing mix would have to wait given the
volatile economic environment. The agency made this announcement
after an auction of one-year Treasury bills saw the yield on the
short-term government debt paper fall despite attempts by banks to
bid up the rate on account of rising inflation.
Finance Undersecretary Roberto Tan said the
70:30 ratio in favor of domestic sources will remain, as future
responses will depend on the opportunities in the last two quarters
of the year.
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Napocor seeks waiver to
fast-track power rate cuts
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STATE-OWNED National Power Corp. (Napocor) is
seeking a waiver from the Energy Regulatory Commission (ERC) on
additional requirements to expedite another round of cuts in
electricity rates.
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IFC tells RP to relax business regulations
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THE International Finance Corp. (IFC) said the
Philippines should speed up reforms in business regulation to
accelerate private sector investments.
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1Q growth seen within govt forecast
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WEAK consumer spending caused by higher food and
fuel prices and global uncertainties are likely to have trimmed the
Philippines’ economic growth last quarter, economists polled by
The Manila Times said.
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Free text to impair service, say telcos
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TELECOM companies on Monday warned that a
government plan to terminate charges on text messages may pull down
service quality. “The industry may not be able to sustain and
support a free text [environment],” Rodolfo Salalima, senior vice
president for corporate and regulatory affairs of Globe Telecom Inc.
said.
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Sun Cellular reports expansion in
subscriber base despite inflation
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THE wireless business of Digital Telecommunications Philippines Inc.
(Digitel) announced on Monday that its subscriber base expanded this
month despite the rising cost of basic commodities.
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GMA taps PLDT unit for sat TV
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MABUHAY Satellite Corp., a unit of Philippine Long Distance
Telephone Co. (PLDT) has entered an agreement with GMA Network Inc.
for a multi-year satellite distribution of the broadcasting
company’s local programming and international channel, PinoyTV.
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Stock market down as
investors stay on sidelines
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LOCAL share prices closed slightly lower Monday as investors took to
the sidelines amid the rising price of oil and inflation fears,
dealers said.
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US summer driving season
kicks off with costlier oil
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SINGAPORE: Oil traded higher at more than $132 a barrel Monday as
the US summer driving season kicked off, underscoring concerns that
output was inadequate amid rising demand.
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MANAGING
FOR SOCIETY
By Raul M. Mirasol
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Form tomorrow’s Filipinos:
Write stories for children
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Ideals, principles or values are acquired and reinforced through a
process. First, a principle is accepted as “good” by the general
population, then passed on to others through indoctrination or
“brainwashing.”
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BIZZ
FIZZ
By Rene Martel
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Standing around on the shop floor
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LEGISLATIVE concern for the working classes is always a
welcome—though not always that readily forthcoming—development.
But it has to be said, this factor sometimes manifests itself in the
most intriguing ways.
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