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Saturday, January 31, 2009 |
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AMID ECONOMIC DIFFICULTIES
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NEDA wants government job cuts suspended
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By Darwin G. Amojelar, Reporter
THE National Economic and Development Authority (NEDA) wants a
moratorium on jobs cuts in the public sector amid the present
economic difficulties.
In a statement, Socioeconomic Planning Secretary
and NEDA Director General Ralph Recto said that pushing through with
the plan to rationalize government agencies may not be desirable at
this time due to the global crisis that continues to threaten job
security here and abroad.
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BSP washes hands off price surge
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THE Bangko Sentral ng Pilipinas (BSP) said it missed its
inflation target for 2008 due to volatile movements in the prices of
food and oil prices, and magnified by weather conditions and a
global financial turmoil.
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Stocks fall on gloomy outlook
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LOCAL share prices closed lower on Friday as investors ignored
favorable economic growth figures at home to focus on the gloomy
outlook overseas, dealers said.
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DBS sees more key interest rate cuts
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THE Bangko Sentral ng Pilipinas (BSP) would cut further its key
interest rates this year despite the positive growth in the fourth
quarter last year, the Development Bank of Singapore (DBS) said.
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‘Crowding out’ effect from SMB unlikely, says govt
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THE Philippine government is unperturbed about the planned borrowing
of San Miguel Brewery Inc. (SMB), saying what is touted as the
biggest domestic corporate bond issue in the country’s history
won’t have a “crowding out” effect on the sovereign’s own
financing plan.
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World Bank to fund river basin project in Bicol
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THE Philippines plans to tap the World Bank to fund the
multibillion-peso river basin and watershed management project in
Bicol, the National Economic and Development Authority (NEDA) said.
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Oil prices higher after OPEC comments
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SINGAPORE: World oil prices rose in Asian trade on Friday after the
Organization of Petroleum Exporting Countries (OPEC) cartel said it
would consider more output cuts to bolster a market faced with tumbling energy demand during
the global economic slump.
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World stocks slide lower as economic picture darkens
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LONDON: The Japanese stock market tumbled Friday, hurting European
equities as top companies from the electronics and auto sectors
posted sharp losses and announced plans to axe thousands of jobs.
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Japan sees no end in sight to bad news
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TOKYO: Japan announced a triple slump in key economic data Friday
and said there was no end in sight to the bad news, as some of the
country’s most high profile companies announced or forecast
massive losses.
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After Q4 loss, Chartered to cut more jobs
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SINGAPORE: Chartered Semiconductor, one of the world’s biggest
custom microchip makers, said Friday it would cut hundreds of jobs
worldwide and announced a fourth-quarter net loss of $114 million.
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First Infrastructure, PNR explore joint venture
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FIRST Philippine Infrastructure Inc. and state-owned Philippine
National Railways are exploring mutually beneficial transportation
infrastructure investment opportunities.
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DMCI eyes short-term loan from Banco de Oro
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DMCI Holdings Inc. plans to borrow short-term from Banco de Oro
Unibank Inc. (BDO) to fund the obligations of its steel fabrication
and modular construction business.
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Manila Water, Cebu government move closer to supply deal
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MANILA Water Co. Inc. said its subsidiary entered into a memorandum
of understanding with the provincial government of Cebu for a
possible water supply deal.
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No change in PLDT capex as demand weakens
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PHILIPPINE Long Distance Telephone Co. on Friday said its capital
expenditure this year will be the same as last year, citing weak
consumer demand.
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SB Corp. loans to SMEs climb higher
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Small Business Corp. reported that loans it released to micro, small
and medium enterprises (MSMEs) were higher last year.
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LEARNING
& INNOVATION
By Moje Ramos-Aquino, Fpm
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Friendships are not
always reciprocal
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Shocked? Some of our friends give us guidance and motivation, while
we do not. Our friends like us because we make them happy, but they
do not know a single joke.
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