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Saturday, February 07, 2009 |
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Boosted by global bonds, asset disposal
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Foreign reserves up in Jan.
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By Maricel E. Burgonio, Reporter
The Philippines’ foreign reserves rose in last month on the back
of the proceeds from the national government’s bond issuance and
privatization of government’s transmission assets, Bangko Sentral
ng Pilipinas (BSP) said on Friday.
In a statement, the central ban said the
country’s gross international reserves (GIR) rose by $2 billion to
$39.6 billion in January this year compared with $37.6 billion in
December last year.
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PNB profit drops in ’08
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The Philippine National Bank (PNB) posted a double-digit drop in net
income in 2008 due to the decline in operating income and losses
from the adoption of the new accounting standards.
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Mindanao Ave.-NLEX link to start in March
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THE construction of expressway that will link Mindanao Avenue to
North Luzon Expressways (NLEX) will begin next month, Metro Pacific
Investments Corp. (MPIC) said Friday.
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PLDT unit secures UHF-TV station permit
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A unit of Philippine Long Distance Telephone Co. has obtained a
regulatory approval to operate a UHF (ultra-high frequency)
television broadcast station in Marinduque.
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Local shares close higher as Wall Street rebounds
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Local share prices closed 2.7-percent higher on Friday, lifted by
the upturn in the US stock market, dealers said.
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Napocor bids out Limay plant service contract
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State-owned National Power Corp. (Napocor) is re-bidding the service
contract for the operation and maintenance of the Bataan Combined
Cycle Power Plant in Limay, Bataan.
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Subic Freeport posts double-digit revenue collections last year
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The Subic seaport registered double-digit growth in revenue
collections last year amid the global economic slowdown and the ban
on importation of used vehicles, Subic Bay Metropolitan Authority (SBMA)
reported in a statement Wednesday.
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Grim corporate figures underline global
crisis
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TOKYO: Grim corporate earnings data from the world’s biggest
automaker and thousands of job losses underscored Friday the urgency
driving debate over Washington’s massive economic stimulus plan.
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Oil falls in Asia
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SINGAPORE: Oil prices fell further towards $40 a barrel on Friday in
choppy Asian trade.
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French ‘rogue trader’ blames bosses for losses
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PARIS: Alleged rogue trader Jerome Kerviel, accused of losing his
bank 4.9 billion euros ($7.1 billion), blamed his bosses on Friday
in an emotional radio interview ahead of his trial.
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LandBank profits surge
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The Land Bank of the Philippines (LandBank) announced that its net
income grew by double-digit last year on the back of expansion in
revenues from investments and loans.
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TKC Steel to sell carbon credits
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TKC Steel Corp. announced Friday that its subsidiary entered into an
emission reduction purchase agreement (ERPA) with Ecosecurities.
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Forum Energy starts drilling in Cebu
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London-listed Forum Energy PLC announced that it has started
exploration activities in its coal concession in Cebu.
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iRemit transactions up at end-Nov.
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THE country’s only listed non-bank remittance company announced
remittances for the first 11 months last year jumped by almost half
but growth may have slowed in the final quarter.
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DBP boosts retail lending
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The Development Bank of the Philippines (DBP) said it is boosting
its retail banking business this year by enticing more depositors
through its improved its deposit products.
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DOF sues Customs officials
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The Department of Finance (DOF) has filed charges against three
Bureau of Customs (BOC) officials regarding their involvement in the
illegal and anomalous release of luxury cars and disassembled mini
vans.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, FPM
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Friendships are
predictors of workplace outcomes
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According to studies made by Tom Rath and his team of researchers at
Gallup Polls, employees with best friends are seven times more
likely to be engaged in their job.
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