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Monday, March 16, 2009 |
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ANALYSIS
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Meralco seen a prelude to future
Lopez-PLDT deals
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By Darwin G. Amojelar, Reporter
A BATTLE between business empires is heating up over control of a
power company that could give synergies to competing groups’
businesses, sustaining profitability amid a global
economic downturn.
The war is being fought between the Lopezes and
the PLDT group on the one hand, and San Miguel Corp. (SMC) and its
allies on the other, over Manila Electric Co. (Meralco), the
Philippines’ largest power distributor.
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Stock market expected to rise on PLDT’s gains
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PHLIPPINE share prices should gain this week, led by Philippine Long
Distance Telephone Co. (PLDT), analysts said on Friday.
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Lopezes’ telecom company to block SMC takeover of Extelcom
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THE Lopez group said it would block a takeover by San Miguel Corp.
(SMC) of the Philippines’ oldest telecom company.
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Govt puts off BSP capital hike
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FACED with a wider budget deficit, the Arroyo administration has
deferred a plan to complete the capitalization of the Bangko Sentral
ng Pilipinas (BSP).
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Lower House passes bill tightening rules on LPG
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THE House of Representatives has passed on third reading a bill that
tightens regulations in the liquefied petroleum gas (LPG) industry
amid consumer outcry over irregularities in the sector.
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Banks’ bad loan ratio eases in 2008
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UNIVERSAL and commercial banks registered a modest improvement in
their bad loan ratio last year, dropping to its lowest since the
ratio peaked in 2001, the Bangko Sentral ng Pilipinas (BSP) said.
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US Fed expected to push hard for recovery
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WASHINGTON, D.C.: The US Federal Reserve is likely to signal its
intent this week to act even more aggressively in opening up credit
markets to spark recovery from recession, analysts say.
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Plan to purge US firms of toxic assets takes shape
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WASHINGTON, D.C.: US officials are putting the finishing touches on
a plan using public-private partnerships to buy up the toxic assets
clogging the financial system and contributing to a crippling credit
crunch.
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Oil cartel set for crucial meet amid weak demand
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VIENNA: The Organization of Petroleum Exporting Countries (OPEC)
meets here Sunday for a pivotal production meeting that could cut
crude output to defend slumping oil prices which have collapsed in
the face of a fierce global economic downturn.
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BDO raises capital to support expansion
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BANCO De Oro Unibank Inc. (BDO) said it raised more money than it
had planned from the recent sale
of debt papers meant to boost the
lender’s capital.
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Cable firms ask regulator to deny Altimax plea for permit extension
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TEN cable companies have asked the National Telecommunications
Commission (NTC) to junk the application of Altimax to renew its
permit to offer direct broadcast satellite service (DBBS)
nationwide.
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PSE allows broker anonymity
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THE Philippine Stock Exchange (PSE) has allowed brokers to maintain
anonymity during market transactions in a bid to level the playing
field among bourse participants and increase liquidity.
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Total’s job cuts catch French ire
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PARIS: Total is France’s biggest company and has just made the
biggest annual profit in the country’s corporate history. Yet the
energy giant has long been the firm the French public likes most to
hate, and now even the government is attacking it.
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Destiny defers to 2011 plan to go public
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GLOBAL Destiny Cable Inc. has deferred a plan to sell shares to the
public next year due to the current global economic crisis.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Sisyphean challenge:
Better than lame and stupid.
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TWO months ago, I bumped into an old friend way back from my high
school days in Santa Cruz, Laguna. I asked him: “What makes you
busy these days?”
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