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Saturday, September 13, 2008 |
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BSP cuts dollar surplus forecast
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THE Philippines may enjoy a smaller dollar surplus this year,
according to the Bangko Sentral ng Pilipinas (BSP), which cut its
balance of payments (BOP) surplus this year as a result of higher
international oil prices and weak exports.
BSP Governor Amando Tetangco Jr. said the
central bank revised downwards its BOP projection for this year to a
$2-billion surplus from the earlier forecast of $2.5 billion.
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Stocks fall further on rise in oil prices
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LOCAL share prices closed lower on Friday amid renewed apprehension
about inflation and the local currency as well as credit problems in
the United States, dealers said.
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DBM sets aside fund to prevent ODA delay
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THE Department of Budget and Management said Friday that the
government has set aside a billion pesos standby fund to plug any
funding shortfall for foreign-assisted projects caused by foreign
exchange fluctuations.
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NEDA, foreign donors draft rules to expedite
projects
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THE National Economic and Development Authority (NEDA) and
foreign donors are drafting rules on the procurement of
foreign-assisted projects to speed up their implementation.
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Bread prices to stay for now pending
negotiations with DTI, flour millers
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PRICES of bread products would stay at current levels, after a
bakers’ group on Friday announced that its members would hold off
an increase they had set for Monday.
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Foreign investors eyeing West Balabac bloc
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TWO foreign groups have expressed interest in state-owned
Philippine National Oil Co.-Exploration Corp.’s (PNOC-EC) offer of
participation in its petroleum exploration area in offshore Palawan.
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Thrift banks’ bad loan ratio dips below pre-crisis level
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Bad loan ratio of thrift banks went down in May as a result of
expansion in loan portfolio and moderate buildup of non-performing
loans, Bangko Sentral ng Pilipinas (BSP) reported yesterday.
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Heritage Hotel owner posts bond in tax case versus Grand Plaza
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GRAND Plaza Hotel Corp. has filed a surety bond with the Court of
Tax Appeals to comply with a condition the court imposed for a
petition the company lodged against the Bureau of Internal Revenue (BIR),
which is seeking to collect alleged tax deficiencies.
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Anchor Land profit registers significant increase in first half
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Anchor Land Holdings Inc. posted a net profit significantly
exceeding previous by more than seven folds in the first half of the
year, Steve Li, vice chairman, announced in a statement Friday.
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Learning
& innovation
By Moje Ramos-Aquino, FPM
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Seven ages of a leader
(CONCLUSION)
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[In the first part published last Friday, the
columnist discussed the first three of Warren Bennis’ Seven Ages
of a Leader. This concludes her discussion - Ed.]
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Easycall to venture into WiMax
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EASYCALL Communications Philippines Inc. on Friday said it will ask
for regulatory approval to offer a new telecom technology in a bid
to expand its business.
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Manila Pavilion operator seeks Land Bank loan to fund capital
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Acesite (Philippines) Hotel Corporation is set to borrow from the
Land Bank of the Philippines to fund its working capital
requirements, which will be used for the renovation of its hotel in
Manila.
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