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Tuesday, April 21, 2009 |
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Central bank poised to cut rates further
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By Maricel E. Burgonio, Senior Reporter
The Bangko Sentral ng Pilipinas (BSP) said it is likely to continue
cutting its key interest rates to ensure the economy has ample money
to support the government, businesses and households amid slowing
growth.
“Given the favorable inflation outlook and
well-anchored inflation expectations, monetary policy continues to
be appropriately accommodative,” BSP Deputy Gov. Diwa Guinigundo
told reporters.
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Lenders buck cheaper remittance fees, says BSP
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Some local banks are still hesitant to participate in the
Philippines Payments and Settlement Systems (Philpass)—particularly
in the transfer of overseas Filipino worker (OFW) remittances—as
this would lower their fee-based incomes, the Bangko Sentral ng
Pilipinas (BSP) said.
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Benchmark rates ease on BSP cut, benign inflation forecast
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YIELDS on benchmark short-term government debt papers declined after
the Bangko Sentral ng Pilipinas (BSP) last week cut its interest
rates.
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Local stocks slip lower
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Philippine share prices closed 0.4-percent lower Monday amid a
dearth of any positive leads to spur buying, dealers said.
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NTC mulls revival of plan to register mobile phones
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THE National Telecommunications Commission (NTC) may revive the plan
to mandate the registration of all mobile-phone units amid the
rising number of smuggled and stolen phones.
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ADB urges govt to spend more on infra
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THE Asian Development Bank (ADB) wants the Philippines to address
its infrastructure deficit by spending more in the next five years
to promote inclusive economic growth and reduce poverty.
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Jollibee to expand overseas despite crisis
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THE country’s biggest fast-food chain announced Monday that it
remains on an overseas expansion mode this year despite the global
economic crisis.
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MWSS approves Manila Water’s contract extension
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STATE-RUN Metropolitan Waterworks and Sewerage System (MWSS) has
approved the contract extension of Manila Water Co. Inc.
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Shell maiden share offering to public still hangs
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It’s still no go for the public listing of Pilipinas Shell
Petroleum Corp. as the company is still reviewing its mandated
offering at the local bourse.
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EDC to take over plants from Marubeni
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Renewable energy firm Energy Development Corp. (EDC) is set to
takeover two geothermal power plants in Mindanao from its partner
Marubeni Corp. of Japan by June.
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Metrobank to raise fresh funds to boost capital
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Metropolitan Bank and Trust Co. (Metrobank) announced on Monday it
is raising additional capital through the sale of its second tranche
of the unsecured subordinated lower Tier 2 notes.
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Galoc records new orders
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PRODUCTION from the Galoc field has reached a million and a half
barrels of crude as orders for additional cargo from the region
continue to pour in.
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MANAGING
FOR SOCIETY
By Dennis L. Berino
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Sleeping railway
system
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More than 10 years since the Skyway opened in the late 90s, the
second segment of the Skyway that will connect Bicutan to Alabang
started this year.
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