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Friday, January 16, 2009 |
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Bank lending begins to slow
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BANK lending rose slower in November, as businesses and consumers
took out less loans, the Bangko Sentral ng Pilipinas (BSP)
said Thursday.
In a statement, BSP Governor Amando Tetangco Jr.
said the outstanding loans of commercial banks including reverse
repurchase agreements (RRPs) rose by 22.9 percent year-on-year in
November to P2.214 trillion, lower than the 24.8-percent growth in
October.
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World Bank blacklists RP firms over road project
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THE World Bank has blacklisted seven firms, including three
Manila-based companies, barring them from securing future contracts
due to alleged corruption.
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Foreign capital fled RP markets in ’08
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HEIGHTENED risk aversion led to net outflows of foreign investments
in Philippine listed shares and other financial assets last year,
according to the Bangko Sentral ng Pilipinas (BSP).
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OFW money grows at double-digits
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THE remittances of overseas Filipino workers (OFW) continued to rise
by double digits in November providing liquidity to support the
economy amid the global financial crisis, the Bangko Sentral ng
Pilipinas (BSP) said Thursday.
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Stocks, peso join fresh Asia-wide rout
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LOCAL share prices closed 1.5-percent lower Thursday, joining other
Asian bourses’ slide, after losses on Wall Street, dealers said.
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SEC cuts preneed companies some slack
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The Securities and Exchange Commission (SEC) has decided to relax
its capital rules on the preneed industry to prevent its collapse
amid the global financial crisis.
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Exchange backs off San Miguel
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THE Philippine Stock Exchange (PSE) took back on Thursday its show
cause order against Southeast Asia’s largest food and beverage
conglomerate.
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Universal Robina profit falls
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THE maker of Jack ‘n Jill snack foods and C2 tea drink reported on
Thursday that its net income last year fell due to mark-to-market
losses.
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Local bourse to resume Meralco share trading
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AFTER the Philippine Stock Exchange (PSE) segregated some
controversial Manila Electric Co. (Meralco) shares, the local bourse
is ready to resume trading of the utility’s stock today.
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Power-grid operator plans capex boost
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THE Philippine power grid’s new operator, National Grid Corp. of
the Philippines (NGCP), plans to infuse fresh capital into the
country’s transmission facilities.
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Aboitiz group eyes fresh debt
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ABOITIZ Equity Ventures Inc. (AEV) is eyeing to borrow money through
the sale of retail bonds or IOUs.
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Amadeus seeks to grow domestic market share
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AMADEUS Philippines said it is confident of becoming the leading
solutions provider for travel agencies this year.
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PLDT bids for recovery of foreign exchange charges
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PHILIPPINE Long Distance Telephone Co. (PLDT) has asked the National
Telecommunications Commission (NTC) to allow the company to charge
foreign currency adjustment to its subscribers in Marinduque.
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Cebu Pacific offers ‘zero’ int’l fares
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CEBU Pacific on Thursday said it would offer a “zero” fare promo
for most of its international routes to encourage tourists amid the
global economic downturn.
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GSIS trims offer for FTI property20090116bus15.html
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STATE-RUN Government Service Insurance System (GSIS) cut its offer
for the Taguig City property of Food Terminal Inc. (FTI).
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