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Tuesday, June 30, 2009 |
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Benchmark rates
mixed
as govt mulls over debt options
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By Lailany P. Gomez, Reporter
Benchmark interest rates were
mixed owing to investor uncertainty about new supply of debt
securities, as the government gave few new hints as to its borrowing
tack for the remainder of the year.
The government borrows from local
banks and other institutional lenders on short-term notice through
the sale of so-called Treasury bills (T-bills), the proceeds of
which is used to plug a budget deficit borne out of tax collection
shortfalls.
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June inflation
seen to have dipped near one percent
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The Bangko Sentral ng Pilipinas (BSP) said inflation
this month may have dipped further to nearly 1 percent, as the price
of food, electricity, and local oil went down.
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Govt fails to bid
out all coal contracts
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THE government failed to attract interest in all of
the coal exploration areas it bid out during the first phase of this
year’s Philippine Energy Contracting Round (PECR).
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Weak economy
dampens lending–BSP
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THE Bangko Sentral ng Pilipinas (BSP) said the
economic slowdown is taking its toll on bank lending, citing its
deceleration in recent months.
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Stock market
starts week lower on lack of new leads
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Philippine share prices closed slightly lower in
listless trade on Monday as investors searched for fresh leads,
dealers said.
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RP to stay afloat
on retail sales, public spending-report
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The Philippine economy will stay afloat in the first
half of this year on the back of an improvement in retail sales and
government spending, indicating that the state’s full year growth
target will be met.
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Lottery
supplier’s net up on higher bets
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The exclusive online lottery system provider of the
Philippine Charity Sweepstakes Office in Visayas and Mindanao said
its profit grew by more than half in the first five months of the
year due to higher bets.
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First Gen sets
sights on water supplier
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First Gen Corp. plans to bid for the
independent power producer administrator (IPPA) contract
of the Casecnan hydroelectric power plant.The government maintains a
supply contract with the facility.
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Globe moves a step
closer to offering broadcast service
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The National Telecommunications Commission (NTC) has
given the greenlight to Globe Telecom Inc.’s foray into
broadcasting with the extension of Altimax Broadcasting Co. Inc.’s
permit to rollout multi-channel multipoint...
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Solid Group to
export phones to LatAm, Papua New Guinea
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Solid Group Inc. announced on Monday that it plans to
export its mobile phone handsets to Latin America and Papua New
Guinea.
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Meralco to redeem
preferred shares
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MANILA Electric Co. (Meralco) is poised to trim its
liabilities, after its board of directors authorized the utility’s
management to buy back a portion of its preferred shares starting
October.
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BPO firm chooses
Quezon City as hub
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Business process outsourcing (BPO) firm Stream Global
Services Inc. has made its new Quezon City facility its Asia-Pacific
headquarters and is looking at expanding to areas outside Metro
Manila.
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MANAGING FOR SOCIETY
By Benito L. Teehankee
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Accentuate the
positive
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The song “Accentuate the
Positive,” written by Arlen and Mercer in the 40s and popularized
by the likes of Perry Como and Frank Sinatra, goes this way:
“You’ve got to accentuate the positive.
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