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Wednesday, September 03. 2008 |
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Oil companies cut fuel prices
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By Euan Paulo C. Ańonuevo, Reporter
SMALL oil retailers on Tuesday announced another round of price
cuts at the pump as world crude slumped below $110 a barrel on signs
Hurricane Gustav may spare oil facilities off the US south coast.
Eastern Petroleum Corp., Flying V, Seaoil
Philippines Inc. and Unioil Petroleum Philippines Inc. separately
said they would implement a P1-per-liter cut in the price of all
fuel products. The rollback will take effect at 12:01 a.m. today.
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Peso slumps to one-year low amid regional crises
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AMID troubles elsewhere in Asia, the peso slumped to a one-year low
on Tuesday.
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Residential resort biz seen languishing
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PHILIPPINE residential resorts will languish as the “second
home” market is weakening due to the US economic and sub prime
crisis, warned a local property expert.
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No salary hike for
top execs, says DBM
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THE Department of Budget and Management (DBM)
has retracted an earlier announcement that President Arroyo would be
among the beneficiaries of next year’s proposed salary hike for
government employees.
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Govt increases debt repayments for next
year
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THE Philippines will set aside a bigger amount for debt payments
next year, according to the Bureau of Treasury.
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BSP expects banks to have ample capital
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DESPITE the global financial turmoil and stricter international
standards, local banks will keep their capital adequacy ratios above
regulatory requirements, the Bangko Sentral ng Pilipinas (BSP) said.
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Govt sets sale of shuttered power plants
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STATE-RUN Power Sector Assets and Liabilities Management Corp.
(Psalm) has firmed up the sale of more generating assets, including
decommissioned or retired power plants, of National Power Corp. (Napocor).
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Agri dept cancels permits of small tuna firms
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TO conserve tuna stocks in the Philippines, Agriculture Secretary
Arthur Yap has ordered the cancelation of licenses or permits of
fishing companies engaged in fishing and trading of small tuna.
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Company may invest
in wind farm
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A local company is undertaking feasibility studies for a wind farm
it is proposing to put up in Pasuquin, Ilocos Norte, an official
from the Department of Energy said Tuesday.
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Leadership crisis dims Japan’s economic outlook
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TOKYO: Asia’s largest economy was left rudderless again Tuesday
after Japan’s Prime Minister quit suddenly, sparking concerns that
free-market reforms will be put on a backburner as a recession
looms.
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European currencies slide in Asia
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TOKYO: The euro and the pound fell against the
dollar in Asia Tuesday on expectations of lower interest rates in
Europe to stave off the threat of recession, dealers said.
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Bangkok shoppers
unfazed by emergency
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BANGKOK: As bloody clashes erupted in Bangkok’s political quarter
on Tuesday, just across town shoppers and tourists went about their
day oblivious to the state of emergency invoked just hours earlier.
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Aussie central bank cuts interest rates
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SYDNEY: Australia’s central bank cut interest rates Tuesday for
the first time in over six-and-a-half years, pushing them down 25
basis points to 7 percent amid signs of cooling economic growth.
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Korean won falls despite tough talk
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SEOUL: South Korea’s currency fell to a 46-month low Tuesday
despite attempts by authorities to talk it up, while the stock
market slid to its lowest close in 18 months as foreign investors
dumped stocks.
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VIEWS
FROM A BRIT
By Mike Wootton
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Honor
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On checking the reference in Wikipedia (a wonderful source of
information!) for “honor”, it makes the point that this is
something which appears to be in decline in today’s world. The
reason for my checking the reference...
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