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Friday, January 23, 2009 |
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NEDA sees slower
growth in Q4
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By Darwin G. Amojelar, Reporter
THE Philippine economic growth
may have slowed in the fourth quarter last year as all sectors
weakened, the National Economic and Development Authority (NEDA)
said Thursday.
In a briefing, Dennis Arroyo,
NEDA national planning and policy staff director, said the
government has projects that the economy, as measured by gross
domestic product (GDP), may have grown between 3.6 percent and 4.4
percent in the fourth quarter of last year. GDP is the total
value of all goods and services produced within the country in a
given period.
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Philippine shares
close higher
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Philippine share prices closed 1.3-percent higher on
Thursday on a technical rebound after more than a week in negative
territory, dealers said.
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Outstanding public
sector debt inches up in June 2008
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The country’s outstanding public sector debt inched
up for the first six months of last year as the national government
and state-owned firms posted higher obligations during the period,
Department of Finance (DOF) said.
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Bangko Sentral
issues revised guidelines on bank practices
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In the wake of the simultaneous closures of 15
lenders, the Bangko Sentral ng Pilipinas (BSP) has issued the
revised guidelines on expanded activities that are considered unsafe
and unsound banking practices, which would help strengthen its
supervision of banks.
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Regulator orders
Napocor to bring down rates
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The Energy Regulatory Commission (ERC) has ordered
state-owned National Power Corp. (Napocor) to lower its rates as its
latest fuel and foreign exchange costs have dropped.
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PDIC taps audit
firm to examine deposit claims of failed banks
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The Philippine Deposit Insurance Corp. (PDIC) has
tapped the services of an external auditing firm to speed up the
process of servicing the depositors’ claims of the recently closed
12 rural banks under the Legacy group.
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Bayan to block NTC
hearing on 3G licensing
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Bayan Telecommunications Inc. has asked the Court of
Appeals to stop the telecom regulator from holding a public hearing
on the remaining 3G (third generation) frequency in a bid to block
other telecom firms in securing permits.
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Cebu Pacific sees
more passengers this year
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Despite the country’s economic difficulties, Cebu
Pacific on Thursday said it expects to carry more passengers this
year, boosted by cheaper fare and increase in seat capacity.
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PhilWeb profits up
on increased Pagcor’s e-games outlets
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PHILWEB Corp. announced on Thursday that its net
income grew more than a quarter last year on the back of a
significant increase in Philippine Amusement and Gaming Corp. (Pagcor)
e-Games Cafes outlets.
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Aboitiz Power to
bid for Sual, Pagbilao power plant
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Listed firm Aboitiz Power Corp. (AP) is keen on
participating in the bidding for state-owned National Power
Corp.’s contracted capacities with the Sual and Pagbilao
coal-fired power plants, an executive said.
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BIZZ FIZZ
By Rene Martel
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The smiling
ambassador of Thai Airways
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HE is here, there and everywhere—and wherever he
happens to be his fetching smile is never too far removed from his
face.
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