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Friday, September 26, 2008 |
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Manufacturing output
spurts
to highest level this year
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By Euan Paulo C. Añonuevo,
Reporter
PHILIPPINE factory output rose to
its highest level this year in July due to increases in
the production of a number of industries.
In its Monthly Integrated Survey
of Selected Industries, the National Statistics Office (NSO)
reported that the manufacturing sector’s Volume of Production
Index (VoPI) grew by 8.1 percent from 0.90 percent in the same
period last year.
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Domestic share
prices rise on bargain hunting
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LOCAL share prices closed higher Thursday on bargain
hunting following a downturn in recent weeks, dealers said.
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Bangko Sentral
seen to continue raising
interest rates on persistent inflation
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THE Bangko Sentral ng Pilipinas (BSP) will jack up
interest rates until next year to strengthen the peso and sustain
price stability, according to the research unit of Union Bank of
Switzerland (UBS).
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Local bourse to
link up with SE Asian stock
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LOCAL stock brokers will soon be allowed to trade on
other Southeast Asian exchanges, after six bourses in the region,
including the Philippines agreed to electronically link their
markets.
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RP drops out of
list of ethanol producers
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THE Philippines dropped out of a list of attractive
locations for producing ethanol, according to a study by Ernst and
Young UK.
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Oil prices edge
higher on bailout uncertainty
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SINGAPORE: Oil prices edged higher in Asian trade
Thursday as investors worried a stalemate over the US government’s
bailout plan for the ailing financial system will further damage the
economy, dealers said.
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Enron-era
accounting reforms blamed in current financial crisis
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WASHINGTON: An obscure accounting rule is getting
fresh attention in the current financial crisis, with critics saying
banks are hurt by being forced to recognize losses quickly instead
of holding assets until they recover.
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Megaworld, BDO
sign home loan deal
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PROPERTY developer Megaworld Corp. and Banco de Oro
Unibank, Inc. have agreed on a multibillion loan facility program
for potential
real-estate buyers.
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Philex to buy out
Anglo American in mine venture
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PHILEX Mining Corp. will buy out partner Anglo
American Plc. in a gold and copper venture, the listed mining firm
announced in a statement Thursday.
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Low-cost housing
projects nationwide get BOI perks
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THE Board of Investments recently granted tax
incentives and other perks to six low-cost mass housing projects
costing over P1 billion that will be implemented all over the
country.
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Customs seeks
release of non-cash benefits
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The Bureau of Customs has asked that its non-cash
benefit be released by the Department of Budget and Management to
support its expenditure plan next year.
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Nihao secures
Saprolite’s exploration permit
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NIHAO Mineral Resources International Inc. said it
has secured the nod of regulators to assign Saprolite Mining
Inc.’s exploration permit in Zambales to the company’s unit Mina
Tierra Gracia Inc.
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WB’s Cities
Alliance program grants aid to RP’s League of Cities
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The Cities Alliance, a Global Partnership Program
housed in the World Bank (WB) has extended a grant to cities in the
Philippines to help improve governance and delivery of social
services in urban areas.
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BIR exempts BSP
from GRTs
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THE Bangko Sentral ng Pilipinas (BSP) said not
subject to gross receipts tax, as long as the activity is part of
its monetary authority, the Bureau of Internal Revenue (BIR) said
Monday.
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