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Monday, June 22, 2009 |
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Spending lift seen better than tax cut
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By Darwin G Amojelar, Senior Reporter
HIGHER state spending—not tax cuts—can do a better job of
stimulating economic growth, an official of the National Economic
and Development Authority (NEDA) said.
From an original program of P1.495 trillion, the
country’s economic managers, however, cut the government’s
expenditures to P1.489 trillion in line with a reduction in their
growth target to between 0.8 percent and 1.8 percent from the
earlier 3.1 percent to 4.1 percent. This was their third reduction
in the country’s gross domestic product (GDP) growth target.
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Smart offers Piltel buyout
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SMART Communications Inc. has offered to buy out minority
shareholders of Pilipino Telephone Corp. (Piltel) for cash at a
premium over the latter’s market price.
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Toyota forecasts industry contraction
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THE Philippines’ top-selling automaker said industry sales may
contract this year.
On the sidelines of the domestic launch of the
Prius, Daniel Isla, Toyota Motor...
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Stocks consolidation eyed
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PHILIPPINE shares will undergo more consolidation this week as the
market looks for direction after breaking the 2,400-point support
level, dealers said on Friday.
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Govt mulls over adoption of Japan’s digital TV norm
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PRESIDENT Gloria Arroyo said the government is mulling over the
adoption of the Japanese standard for the Philippines’ shift to
digital TV come 2015.
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BSP downplays up tick in bad loans
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THE Bangko Sentral ng Pilipinas (BSP) has downplayed the risk of
rising unpaid consumer loans on lenders’ asset quality.
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Napocor considers fresh borrowing
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STATE-OWNED National Power Corp. (Napocor) may undertake fresh
borrowings for its off-grid operations. Froilan Tampinco, Napocor
president, said the company may borrow P7 billion for its Small
Power Utilities Group’s (SPUG) capital requirements for the rest
of the year up to the early part of 2010.
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Public sector posts third annual fiscal surplus
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THE Department of Finance said the financial surplus of the whole
public sector rose at end-December last year. In a statement, the
department said the consolidated public sector surplus went up 23.5
percent to P32.305 billion.
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Congress pushes measure on int’l tax standard
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THE leadership of both chambers of Congress are pushing for
legislation aimed at aligning the Philippines’ tax system with the
internationally agreed tax standard (IATS) for exchange of
information.
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Splash to keep ad spending, offer smaller-sized items
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SPLASH Corp. plans to spend almost a billion
pesos for advertising and promotional activity.
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Megaworld may bid for FTI
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MEGAWORLD Corp. may bid for the state-owned Food Terminal Inc. (FTI).
Kingson Sian, Megaworld Corp. executive
director, said the company remains...
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Anchor Land buys Admiral Hotel Manila
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ANCHOR Land Holdings Inc. announced that it would acquire the
Admiral Hotel Manila.
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Toyota makes hybrid locally available
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TOYOTA Motor Philippines Corp. on Friday launched the Prius, the
first hybrid vehicle to be sold in the country.
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Group pushes privately run WESM
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A GROUP of private power-plant operators wants the government to let
go of its control over the domestic spot market for electricity.
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Commodity rally seen to end as China slows purchase
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SHANGHAI: China has been driving up commodities prices by
stockpiling to prepare for global recovery, but with inventories
overflowing and no end to the crisis in sight, analysts say the
rally may soon end.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Machiavellian
values: When deceit is natural
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BESIDES their earthly plan, can Mar and Korina also get married in
heaven? I thought of asking this question to Raul Ramirez, a cheery
50-something vice president for human resources at Leslie Corp., a
faithful husband, a robust...
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