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Thursday, June 18, 2009 |
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due to debt payments
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RP incurs dollar deficit in May
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By Maricel E. Burgonio, Senior Reporter
The country’s balance of payments (BOP) registered a deficit in
May from a surplus the previous month mainly due to the debt
payments of the national government, Bangko Sentral ng Pilipinas (BSP)
said Wednesday.
In a statement, the central bank said the
country’s BOP registered a deficit of $55 million last month, a
reversal of the $466 million surplus posted in April.
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No need for US-style bank stress test, says BSP
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The Bangko Sentral ng Pilipinas (BSP) said there is no need for
Philippine banks to undergo a US-style stress test as the central
bank is already conducting similar test regularly.
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SEC warns local bourse for violating law
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The Securities and Exchange Commission (SEC) has warned the
Philippine Stock Exchange that its penchant for violating the
Securities Regulation Code (SRC) would merit it “severe
sanctions” in the furture.
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Climbing pump prices inflationary–NEDA
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THE National Economic and Development Authority (NEDA) on Wednesday
warned that “expensive” oil prices would push consumer prices
higher, which would further burden the country that is already on
the brink of a recession.
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Maynilad bats for contract extension
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Maynilad Water Services Inc. is lobbying for the extension its
contract on its water concession, saying that the move would
mitigate rate increases in the coming years.
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Meralco eyes debt mart to refinance obligations
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Manila Electric Co. (Meralco) said it may tap the debt market to
refinance its maturing loans within the next five years.
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PDIC sees lower profit due to large deposit payouts
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The Philippine Deposit Insurance Corp. (PDIC) said it expects to
post lower profit this year due to the huge payouts made to Legacy
bank depositors.
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Asia-America submarine cable network up by August, says PLDT
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PHILIPPINE Long Distance Telephone Co. (PLDT) on Wednesday said the
Asia-America Gateway submarine cable network in Northern Luzon would
be operational in August this year to serve the rising demand for
broadband bandwidth.
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Two foreign renewable energy firms to start projects in Visayas
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Two foreign renewable energy firms are set to start their respective
projects in power-starved Visayas region.
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Arthaland to list additional shares on Friday
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Arthaland Corp., formerly EIB Realty Developers Inc., announced
Wednesday that it will list additional shares on Friday to cover the
private placement transactions of two companies in the property
firm.
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