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Monday, August 10, 2009 |
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Pause in BSP rate cuts seen
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By Maricel E. Burgonio, Senior Reporter
THE Bangko Sentral ng Pilipinas (BSP) is unlikely to cut its
interest rates during its next policy meeting as inflation has
bottomed out in July and the global economy is poised for a
recovery, a BSP official said.
“That’s possible, even prudent. Wait for
more data to come in on strength of global and domestic economic
recovery. We’re mindful of inflation pressures tied to economic
recovery,” the official told reporters when asked if BSP would put
off any further cuts in its policy rates.
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DOTC draws up list of priority infra projects
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THE Department of Transportation and Communications (DOTC) will
propose a list of projects under the new Comprehensive and
Integrated Infrastructure Program (CIIP) for 2010 to 2013.
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Govt to bid out petroleum exploration blocks this month
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THE Department of Energy (DOE) will bid out petroleum exploration
and development contracts within the month, an official said.
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Stocks to get lift from earnings
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THE release of corporate earnings reports this week will likely
determine the direction of Philippine share prices, after a bout of
profit-taking, analysts said on Friday.
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Finance resumes lobby for new sin tax measure
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THE Department of Finance (DOF) may have to break its commitment to
Congress and industry players to defer legislation of a new tax
regime for “sin” products until 2012.
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Chinese billionaire assures
GMA, VP of investment, educational support
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CHINA’s 32nd richest man and TIENS President Dr. Li Jin Yuan
assured President Gloria Macapagal-Arroyo of their company’s
support to the country through investment and employment
opportunities for Filipinos.
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PNOC to expand off-grid solar power services
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IN line with its assumed role of spearheading the development of the
country’s renewable energy sources, state-owned Philippine
National Oil Co. (PNOC) has kicked off preparations to expand its
solar power services.
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Finance bucks new bill creating Bataan free port
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THE Department of Finance (DOF) is pushing for a moratorium in the
creation of free ports because of their vulnerability to smuggling
activities.
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Ayala Land sets sights on mid-market business
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THE Philippines’ biggest property developer plans to increase its
presence in the middle-market segment through the introduction of
smaller malls in the Mega Manila area.
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Smart says NTC has no power to open books
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SMART Communications Inc. said the National Telecommunications
Commission (NTC) has no “power” to open the books of telecom
companies.
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RFM first-half profit up due to easing inflation
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RFM Corp. announced over the weekend that its first-half profit
slightly improved due to easing inflation.
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Sale of Allied Bank stake in California lender eyed
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PHILIPPINE National Bank (PNB) hopes to complete its merger with
Allied Banking Corp. early next year as it accelerates the sale of
its stake in California-based Oceanic Bank in the next six months.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Heijunka: The buildup
to a presidential election
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“I’M happy with what’s going on with the Liberal!” my barber
Tony blurted out last Saturday morning. “I’m more than confident
it could sweep it this time because of its front-running leaders
like Mar Roxas, Kiko Pangilinan, and of course, Noynoy Aquino.”
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