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Tuesday, October 14, 2008 |
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Banks bid up rates for short -term
government borrowing
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CITING unreasonably high rates, the Philippines rejected all
bids for short-term debt papers it had planned to sell on Monday.
Had the government accepted banks’ bids, the
benchmark 91-day Treasury bill rate, which banks use in pricing
their loans, would have risen to 6.276 percent from 5.699 percent
during the last unsuccessful auction of the three-month IOU on July
7.
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Peso, stock market rise after G7 coordinated rescue
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THE peso and the local stock market strengthened on the first
trading day of the week, after last week’s rout, amid renewed
optimism as the world’s seven richest nations drew up a plan to
shore confidence in the world’s financial markets.
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Philex moves to appease state-run SSS
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PHILEX Mining Corp. announced on Monday that it would provide
stockholders a chance to increase their holdings through a sale of
its common shares.
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Psalm to relax power asset-sale rules
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THE Philippines plans to scrap the upfront payment it would require
from buyers of so-called independent power producers (IPP) in a move
to cushion the impact of the ongoing global financial crisis on the
government’s privatization program.
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Treasury says budget deficit to remain below ceiling
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THE Philippines will stay within its programmed budget deficit this
year, the Bureau of Treasury said, despite the prospects of higher
spending due to the global financial crisis.
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Philippines to adopt European standards for shift to digital TV
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THE Philippines is likely to adopt a European technology for the
migration to digital terrestrial television by 2015, the National
Telecommunications Commission said.
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Govt endorses new tourism ecozone project for fiscal incentives
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The Department of Tourism recently endorsed to the Philippine
Economic Zone Authority new investments in Pamalican Island Tourism
Economic Zone (PITEZ) in Palawan.
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Alsons secures board approval for new coal-fired power plant
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Listed Alsons Consolidated Resources Inc. (ACRI) of the Alcantara
Group has secured the approval of its board of directors to put up a
coal-fired power plant in Sarangani province, the company announced
in a statement.
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Benguet, shareholders in tiff over disclosures
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Shareholders of Benguet Corp. have accused the mining firm of
non-disclosure of its financial and operational situation, which
they claimed bear on the company’s capability to run its mining
operations.
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EDC plant resumes operations
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ENERGY Development Corp. (EDC) announced the re-commissioning of the
Mindanao I Geothermal Power Plant, which bogged down in June after
it tripped offline.
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MANAGING
FOR SOCIETY
By Benito L. Teehankee
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Responsible
management education (Part 2)
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The involvement of graduates from prominent
business schools in high-profile business malpractice is now quite
ordinary. There seems little reason to believe that the b-school’s
founding principles focused on professional management...
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Story>>
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