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Wednesday, June 17, 2009 |
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Despite lower headline jobless number
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Employment rate hardly improved, says NSO
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By Darwin G. Amojelar, Senior Reporter
JOB prospects in the Philippine market hardly improved in April,
according to the National Statistics Office (NSO), which reported
lower unemployment numbers largely due to the government’s
temporary work program.
In its quarterly survey, the NSO said the
country’s employment rate stood at 92.5 percent in April, or
“insignificantly” different from last year’s 92 percent.
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First-quarter debt rises as govt jacks up borrowings
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The government’s debt rose in the first quarter this year as it
borrowed more through the sale of peso-denominated Treasury bills
and bonds, according to the Bureau of Treasury.
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Stock market closes lower as investors take profits
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Local share prices closed down 3.8 percent on Tuesday as bad news
from overseas markets prompted investors to take profits, dealers
said.
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No inflation uptick due to higher fuel prices, says Bangko Sentral
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Inflation is unlikely to accelerate despite rising international oil
prices due to the slow recovery of the global economy, the Bangko
Sentral ng Pilipinas (BSP) said.
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Biz chambers push priority bills
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The Philippine Chamber of Commerce and Industry (PCCI) is calling on
Congress to enact 12 bills to improve the domestic economy as well
as the country’s ranking in global competitiveness surveys.
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RP seeks aid, loan guarantee from Japan
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THE Philippines would be wooing the Japanese government this week to
hike its official development assistance (ODA) to the country as
well as to increase its investments in the power sector.
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AIG faces former CEO in court over alleged plundered trust fund
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NEW YORK: US insurer AIG, bailed out last fall, will face its former
Chief Executive Hank Greenberg in court Monday seeking some $4
billion allegedly plundered from a trust fund used to compensate AIG
executives.
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Tokyo central bank holds key rate, upgrades economic outlook
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TOKYO: Japan’s central bank on Tuesday left its key interest rate
unchanged at 0.1 percent, while upgrading its assessment of the
world’s number two economy for a second month in a row.
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LG says mobile market holding up amid crisis
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SINGAPORE: LG Electronics Inc. said Tuesday that the mobile phone
market was holding up despite the global slump and announced plans
to launch three models powered by Google’s Android operating
system this year.
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IMF projects ‘solid’ US recovery
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WASHINGTON, D.C.: The International Monetary Fund (IMF) projected
Monday the United States would make a “solid” recovery from
recession in mid-2010, but warned of major risks including the
real-estate crisis and rising interest rates.
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amid weakening peso
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Ayala-led firms adjust rates
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AYALA-LED companies are adjusting tariffs for telecoms and water
services as a result of movements in the dollar’s peso value.
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Sun Life re-launches dollar mutual fund
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Sun Life Canada (Philippines) Inc. said it has re-launched its
Prosperity Dollar Advantage Fund, aiming to attract increasing US
dollar savings among overseas Filipino workers (OFW).
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Spanish firm to put up local unit with
Yehey!
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A Spanish online communication company puts up a local unit in
partnership with Yehey! Corp.
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Cebu Pacific buys add’l jets
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CEBU Pacific has ordered more aircraft to expand its domestic and
international operations despite the global economic crisis and the
spread of the Influenza A(H1N1) virus.
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Eastern Petroleum to build more ‘mega’ stations for expansion
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While its competitors opt for extensive chains of small stations,
Eastern Petroleum Corp. said its expansion involves the
establishment of “mega” stations.
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Farmers buck rice import duty cut
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Farmers’ groups are opposing the plan to slash the duty on rice as
the staple will be moved from the Highly Sensitive List (HSL) to the
Inclusion List next year under the Asean Free Trade Area Common
Effective Preferential Tariff (AFTA-CEPT) agreement.
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