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Wednesday, October 15, 2008 |
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Philippine share prices surge in line with global rebound
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LOCAL share prices surged on Tuesday, in line with the global
rebound in stock prices, dealers said.
The composite index closed 154.90 points, or
7.31-percent higher at 2,273.65 points, while the all-shares index
rose 4.8 percent to 1,449.36 points.
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Oil prices rally in Asia
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SINGAPORE: Oil prices rallied on Tuesday after world leaders rolled
out further measures to tackle the global financial crisis, dealers
said.
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BSP favors credit facility for e-money
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THE Bangko Sentral ng Pilipinas (BSP) is partial to allowing
non-bank entities engaged in electronic money operations, also
called e-money issuers (EMI) to extend credit.
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Asia’s luxury infatuation under pressure
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HONG KONG: During a recent trip to her expensive Hong Kong
hairdresser, luxury brand consultant Radha Chadha asked her stylist
if the recent turmoil in the world’s stock markets had affected
business.
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Smart eyes trumping iPhone with BlackBerry
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IF Globe Telecom Inc. has the Apple, Smart Communications Inc. will
soon have the BlackBerry.
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Finance turns down LGU tax claims on power project
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THE Department of Finance has turned down the Nueva Ecija
provincial government’s tax claims on a power project.
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Global markets surge after rescue packages but storm clouds
remain
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BERLIN: Gathering storm clouds cast a pall Tuesday over efforts to
combat the global financial crisis despite an upsurge on the
markets, with two of Europe’s biggest economies said to be on the
brink of recession.
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German economy on brink of recession–think tanks
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BERLIN: The German economy, Europe’s biggest, is on the edge of
recession and looks set to notch up growth of only 0.2 percent next
year, leading economic think tanks said Tuesday.
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Japan unveils measures to support stock market
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TOKYO: Japan announced a package of measures Tuesday to support the
ailing stock market, including a loosening of restrictions on
companies buying back their own shares.
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British property sales collapse, prices plummet
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LONDON: British estate agents are selling less than one property a
week as a lack of mortgage finance hits the number of people moving
house, fueling plummeting prices, a surveyors’ body said Tuesday.
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Aussie consortium reports new oil find in Palawan
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THE joint venture of Nido Petroleum Ltd. and Kairiki Energy Ltd. has
found signs of oil in offshore Northwest Palawan basin.
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Waterfront eyes deadline extension for payment of Mimosa Leisure Estate
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WATERFRONT Philippines Inc. (WPI) told the Philippine Stock Exchange
on Tuesday that it is seeking an extension of the deadline for the
payment of the former Mimosa Leisure Estate until a “legal and
binding solution” has been threshed out between the government and
the company.
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Petron seeks Customs’ reconsiderationof case
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PETRON Corp. has filed a request for reconsideration with the Bureau
of Customs after the deadline for the payment of the alleged tax
deficiencies of the country’s largest oil refiner lapsed.
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MRC to buy Benisons shopping center
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MRC Allied Industries Inc. disclosed to the Philippine Stock
Exchange that it is set to buy a parcel of land with a shopping mall
in Divisoria, Manila to diversify its income-generating real estate
holdings.
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Innove wants NTC aid vs. PLDT
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A UNIT of Globe Telecom Inc. wants the National Telecommunications
Commission (NTC) to bar rival Philippine Long Distance Telephone Co.
(PLDT) from removing existing facilities in the Bonifacio Global City
(BGC) in Taguig, Metro
Manila.
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VIEWS
FROM
A BRIT
By Mike Wootton
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Capitalist lackeys
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Arthur Andersen, the accountants, ceased to exist as such as a
result of their involvement with Enron at the time of that debacle.
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