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Monday, September 08, 2008 |
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Govt to crack down on conversion shops
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Unsafe auto-LPG vehicles
proliferating – Energy dept
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THE Department of Energy will crack down on
illegally converted auto-liquefied petroleum gas (LPG) vehicles
operating as public transport services.
Energy Secretary Angelo Reyes said this move
aims to curb illegal conversion shops, which have no certification
from the Department of Trade and Industry for auto-LPG conversion
and installation.
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BSP seen to hold off further rate hikes
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THE Bangko Sentral ng Pilipinas (BSP) will hold off further interest
rate increases next month due to concerns about slowing economic
growth, a private-sector think-tank said.
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House think-tank eyes slower economy
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THE Congressional Planning and Budget Department (CPBD) cut its
economic growth forecast for the Philippines this year.
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Stock market to
mark time amid dearth of news
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LOCAL share prices are likely to mark time this week as investors
await an expected central bank move to raise interest rates after
inflation hit a 17-year high last month, dealers said on Friday.
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Rising debt levels still manageable – Finance
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THE Philippines’ debt levels will rise next
year, the Department of Finance warned.
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Rating firm calls for stronger tax effort
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RATING and Investment Information Inc. (R&I), a Japanese credit
rating company, has affirmed the Philippines’ junk or
below-investment grade rating, and called on the government to
broaden its tax base.
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ADB tops foreign donors for
Philippine dev’t projects next year
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THE Philippines will source the bulk of next year’s official
development assistance (ODA) –funded projects from the Asian
Development Bank (ADB).
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RP’s suspected dirty-money deals rising
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THE number of suspected dirty money transactions jumped in the first
seven months of the year, mostly accounted for by banks and non-bank
financial institutions, the Anti-Money Laundering Council (AMLC)
said.
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Thai turmoil shakes investors
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BANGKOK: The political turmoil playing out in Thailand’s capital
is damaging the kingdom’s economy, hitting its thriving tourism
sector and making investors wary, business leaders said.
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Confused policies fuel Korean crisis fears
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SEOUL: South Korea’s government is striving to reassure investors
that fears of a second financial crisis are groundless, but analysts
say its own confused policies are partly to blame for the
uncertainty.
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OPEC frets over falling prices
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LONDON: The question facing the Organization of Petroleum Exporting
Countries (OPEC) oil producer group which meets this week is when,
not if, to cut its oil production target as crude prices slide in
the face of weakening economic growth, analysts say.
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Commodity prices pushed
lower by strong US dollar
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LONDON: Commodities futures, notably oil and metals, were pushed
lower by a strong dollar and concerns about falling demand for raw
materials amid a global economic slowdown, traders said.
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Detroit’s Big Three turn to govt help
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DETROIT, Michigan: Battered by weak sales, declining market share
and miserable credit ratings, Detroit’s Big Three automakers are
now turning to the US government for help.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Multi-sourcing: The
power of multiple suppliers
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ONE evening after dinner, my wife told me casually that we’re
over-using our Bank of Philippine Islands (BPI) credit cards as we
continue to ignore our other plastics from Citibank and Union Bank,
non-exclusive issuers of Mastercard and Visa, respectively.
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