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Wednesday, August 19, 2009 |
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RP, Indian BPOs tie up vs. protectionism
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By Ben Arnold O. De Vera, Reporter
THE Philippines and India may be rivals in attracting business
process outsourcing (BPO) investments this side of the globe, but
the two countries are joining forces to shield the sector from
looming protectionism, an official said.
On the sidelines of the inauguration of
ExcelAsia Training and Development Inc.’s newest site in Eastwood,
Quezon City on Tuesday, Jonathan de Luzuriaga, Business Processing
Association of the Philippines (BPAP) executive director for
industry affairs, told reporters that BPAP and India’s National
Association of Software and Services Companies (NASSCOM) next week
will sign a memorandum of agreement, through which they will lay out
plans to jointly lobby in the US and other BPO markets to combat
possible actions of governments against outsourcing and offshoring
activities.
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NSCB projects higher growth in second quarter
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THE Philippines may have grown in the second quarter of the year as
economic indicators held up signs of “recovery,” after the
dismal first-quarter growth, the National Statistical Coordination
Board (NSCB) said.
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Fresh govt borrowing boosts dollar surplus
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THE country’s balance of payments (BOP) posted a higher surplus in
July due to the national government’s second offshore borrowing,
the Bangko Sentral ng Pilipinas (BSP) said.
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10-year interest rate eases on inflation outlook, liquidity
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THE interest rate on government’s 10-year debt papers eased mainly
due to liquidity in the market and a softer inflation outlook, the
Bureau of Treasury said.
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BSP to hike rates after elections–Citigroup
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CITIGROUP said the Bangko Sentral ng Pilipinas (BSP) will hike its
key interest rates after the May elections next year.
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Napocor seeks
off-grid supplier for Western Samar
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STATE-OWNED National Power Corp. (Napocor) has kicked off an
off-grid electrification project in Western Samar.
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Meralco draws power from first renewable energy source
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Giant utility Manila Electric Co. (Meralco) has started to draw
electricity from its first renewable energy source.
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SMEs to boost Bayan wireless subscriber base
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The rising number of small and medium enterprises (SMEs) and
entrepreneurs is expected to boost Bayan Telecommunications Inc.’s
wireless landline subscriber base, company executives said.
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Phinma eyes partners for
Cebu, Davao projects
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A DEVELOPER of affordable medium- and high-rise condominiums in
Metro Manila is looking for partners or land sellers for its planned
projects in Visayas and Mindanao regions.
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Cyber crooks riding social-networking wave
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SAN FRANCISCO: A hacking incident report released Monday warns there
has been a steep rise in attacks at social-networking hotspots
including wildly popular microblogging service Twitter.
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Hong Kong’s unemployment remains flat at end-July
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HONG KONG: Hong Kong’s unemployment remained at 5.4 percent
between May and July this year, official data showed Tuesday,
although the government warned the figure may rise as graduates
enter the labor market.
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First Pacific eyes SSS buyout in Philex Mining by next year
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Hongkong-listed First Pacific Co. Ltd. is eyeing the Social Security
System’s (SSS) entire stake in the country’s biggest mining
firm, a company executive said.
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‘Reader’s Digest’ to file for bankruptcy protection
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WASHINGTON, D.C.: Reader’s Digest, publisher of the monthly
magazine, which claims the largest circulation in the world,
announced plans on Monday to file for bankruptcy protection in
agreement with its major lenders.
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Local stocks dip as Wall Street falls
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Philippine share prices closed 1.43 percent lower on Tuesday as
dealers followed a heavy fall in the United States, dealers said.
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CebuPac cuts prices for flights from Clark
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Cebu Pacific (CEB) announced on Tuesday that it has cut the fares
for all international destinations originating from Diosdado
Macapagal International Airport in Clark, Pampanga.
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US manufacturing index posts first growth in year
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WASHINGTON, D.C.: A key US manufacturing survey showed improvement
for the first time in a year, the Federal Reserve Bank of New York
said Monday in a fresh sign the economy may be emerging from
recession.
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Taiwanese tourist arrivals drop by double digits in first half
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The number of tourist arrivals from Taiwan in the first six months
has dipped by double digits from a year ago due to the global
economic crisis and the A(H1N1) flu pandemic, the Manila Economic
and Cultural Office (MECO) said.
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Oil prices dip despite signs of recovery in global economy
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SINGAPORE: Oil traded at around $67 in Asia on Tuesday on lingering
investor concern over the global economic outlook despite signs of a
recovery, analysts said.
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VIEWS
FROM
A BRIT
By Mike Wootton
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Capitalism with
Filipino characteristics
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It’s difficult to transform mindsets from a centrally planned
economy to a capitalist democracy. In a centrally planned economy
people don’t need to think, they just do what they are told, they
don’t need to take any risks or...
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