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Monday, September 29, 2008 |
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ANALYSIS
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Caution raised against
share buybacks amid volatility
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By Likha Cuevas-Miel, Reporter
FINANCIAL market players are walking on a tightrope these days as
big financial institutions on Wall Street are collapsing, with their
huge debris causing ripples across the world.
These failures compounded the uncertainty
brought about by the volatile dollar and oil prices, immediately
sending jolts to stock markets, including the Philippines. The
events of mid-September alone wiped out close to P500 billion in
market capitalization that had been built up weeks, if not months.
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IMF head urges tighter control of financial marts
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PARIS: The International Monetary Fund (IMF) needs to tighten its
control over financial markets following the global economic crisis,
its managing Director Dominique Strauss-Kahn said in an interview
due to be published on Sunday.
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Japanese rating firm says RP economy stable so far
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JAPAN Credit Rating Agency (JCRA) has affirmed its Philippines
rating, citing stable economic growth in the first two quarters of
the year, well-capitalized banks and an improved fiscal position.
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Stocks to take cue from US
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THE Philippine stock market will likely follow the lead of the
United States, where a massive bailout package is being discussed to
help ease the financial crisis.
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Dutch places corporate fat cats on taxed diets
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THE HAGUE: Amid the international financial crisis and rising
controversy over exorbitant corporate salaries, the Netherlands has
taken the bold step of imposing stiff taxes on perceived fat cat
benefits.
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Detroit carmakers bag Congress loan guarantees
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DETROIT, Michigan: The US Senate has approved $25 billion in loan
guarantees for the financially strapped US auto industry, intended
to spark a wave of automotive innovation.
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US regulator says flawed oversight fed financial crisis
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WASHINGTON:The head of the US financial regulator Securities and
Exchange Commission (SEC) has blamed a voluntary monitoring program
for major investment banks as a cause of the global financial crisis
and said he was shutting the program down.
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Indian investment climate turns cold
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NEW DELHI: The car parts plant on the outskirts of the Indian
capital where Chief Executive Lalit Chaudhary was clubbed to death
last week by a vengeful mob of dismissed workers is deserted these
days.
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New owner to
delist Aboitiz Transport
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NEGROS Navigation Co. (Nenaco) said it will delist newly-acquired
Aboitiz Transport System Corp. (ATS) from the Philippine Stock
Exchange (PSE) as well as sell shares of its holding company, KGLI-NM.
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Finance sees slow climb for Philippines’ tax effort
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THE government expects a slow improvement in its tax effort next
year due to the scheduled reduction in the corporate income tax
rate, the tax relief given to minimum wage earners and the higher
exemptions to individual taxpayers, the Department of Finance said.
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Govt bullish on securing financial aid from Millennium Challenge
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The Philippines is optimistic about obtaining a grant from the
Millennium Challenge Corp. (MCC) to support the government’s
anti-corruption program, the Department of Finance said.
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First Infra seeks SEC nod for add’l capital
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FIRST Philippine Infrastructure Inc. (FPII) has sought regulatory
approval for the issuance of more shares to Benpres Holdings Corp.
and First Philippine Holdings Corp., both controlled by the Lopez
group.
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Beyond
The Buzzwords
By Reylito A.H. Elbo
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Black swan theory: An
impossible dream takes time to do
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ONE difficult thing about analyzing a business success story is
that, everybody who knows anything about it first hand would tell
you that it’s a trade secret.
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