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Monday, October 13, 2008 |
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Amid global credit crunch
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Philippine banks turning more cautious, says BSP
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PHILIPPINE banks have turned cautious about lending money to the
public as a result of the financial crisis in the US, according to
the Bangko Sentral ng Pilipinas (BSP).
Despite their caution, BSP Deputy Governor
Nestor Espenilla Jr. said local lending activity remains normal.
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Stock market expected to track Wall Street’s lead
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LOCAL share prices are expected to follow Wall Street’s lead while
investors brace themselves for whatever global policymakers will
concoct to contain the financial crisis, analysts said over the
weekend.
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Interest rates to stay for now
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THE Bangko Sentral ng Pilipinas (BSP) said there is no need to cut
its interest rates even if inflation is expected to taper off in the
near term.
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Peso weakness seen to persist despite remittances
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THE peso is seen to stay at the 47-to-a-dollar level this week
despite the expected support from seasonal overseas Filipino worker
(OFW) remittance inflows.
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Finance to retain bonded warehouse
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DESPITE earlier calls for its abolition, the Department of Finance
will instead amend the existing rules and regulations covering the
Customs Bonded Warehouse System (CBW), which is suspected to have
been used as conduit for smuggling activities.
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NTC bucks bill setting aside tax on text for social services
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A BILL mandating local telecommunication companies to remit half of
their revenue to fund the government’s health and education
programs may distort competition and raise text messaging rates, the
National Telecommunications Commission (NTC) said.
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International air travel eases in second quarter
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AMID record jet fuel prices and reduced capacity of US- and
European-based airlines, the Philippines’ international passenger
traffic flow eased during the second-quarter of the year, the Civil
Aeronautics Board (CAB) said.
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Ayala Land to go careful with expansion next year
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AYALA Land Inc. (ALI) said it would have to wait until the dust
settles in the current market turmoil before deciding on its
expansion next year.
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Psalm lines up second power barge for sale
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STATE-RUN Power Sector Assets and Liabilities Management Corp.
(Psalm) has lined up another power barge in Mindanao for
privatization.
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PSE says no tax leakage from REIT bill
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THE Philippine Stock Exchange (PSE) said the Real Estate Investment
Trust (REIT) bill will generate no tax leakage for the government
despite the perks the measure provides companies and investors
alike.
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Roxas Holdings to enter power, port businesses
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ROXAS Holdings Inc. (RHI) said it will go into the power generation
and port businesses to create more value and enhance its venture
into ethanol production.
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Beyond
The Buzzwords
By Reylito A.H. Elbo
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Kaikaku: Why business is
funny
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AS A consultant-columnist, I often get e-mails from readers who have
become interested in my management services, except for one who
asked: “What kind of consultant are you, doing an alleged humor
column?”
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