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Wednesday, May 06, 2009 |
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BUT BOTTOM LINES DIVERGE ON ONE-OFF ITEMS
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Telecom industry registers growth
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By Darwin G. Amojelar, Senior Reporter
THE Philippines’ telecom sector registered modest growth in the
first quarter this year despite the tough economic environment, but
the country’s leading player saw its profit fall as foreign
exchange losses pulled down its performance.
In a briefing, Philippine Long Distance
Telephone Co. (PLDT) on Tuesday reported that its profits fell in
the first quarter of the year on foreign exchange losses.
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Fresh rate cut eyed on easing inflation
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Consumer prices in April continued to decelerate as prices of all
commodity groups fell, the government reported Tuesday.
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NEDA sees ‘09 expansion at high-end
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THE Philippine economy is likely to grow at the high-end of a
government target this year driven by election related spending and
the planned front-loading for infrastructure projects, the National
Economic and Development Authority (NEDA) said.
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Peso rises to 47-to-a-dollar territory on new US data
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The peso on Tuesday rose to the 47-to-a-dollar territory while
Philippine stocks continued their rally on brighter economic
prospects. Traders said the local currency continued to improve
against the greenback on the back of the recovery in US home sales
and in the manufacturing output of the major economies.
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Full-year VAT collection surpasses govt target
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The government surpassed last year’s collection target for the
Reformed Value-Added Tax (VAT) law, the Department of Finance said
Tuesday.
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Exporters face trade financing crunch–DTI
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THE Department of Trade and Industry (DTI) said exporters have been
suffering from a trade-financing crunch amid the current global
economic crisis.
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Billiton drops bid for Palawan well
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OTTO Energy Ltd. of Australia has dropped talks with the world’s
largest mining company for a partnership in a Philippine petroleum
exploration block. In a disclosure to the Australian Stock Exchange,
Otto Energy said it stopped...
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PAL undercutting travel agencies, says group
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A GROUP of local travel agencies on Tuesday said Philippine
Airlines’ (PAL) new business strategy is “undercutting” their
market amid the global financial crisis.
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Agrinurture To Sell Shares Despite Crisis
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A FRESH fruits and vegetables supplier of the SM chain of
supermarkets said it plans to raise at least a billion pesos from
the sale of its shares this month.
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Finance bucks insurance firms’ tax perk
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The Department of Finance (DOF) is bucking House Bill 6017, which
aims to abolish the premium tax and documentary stamp tax (DST) on
life insurance policies.
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PSALM lines up hydroplants for sale
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State-run Power Sector Assets and Liabilities Management Corp.
(PSALM) has lined up for privatization the government’s contracted
energy from hydroelectric power plants under build-operate-transfer
(BOT) contracts with independent power producers (IPP).
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Expansion lifts SM Prime’s first quarter net
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DESPITE the curren t economic slowdown, the Philippines’ biggest
mall operator announced Tuesday that its net income grew in the
first quarter of the year. In a statement, SM Prime Holdings Inc.
reported a 7-percent increase in its profits...
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EDC plans to build largest wind farm in Southeast Asia
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ENERGY Development Corp. (EDC) said it plans to put up the largest
wind farm in Southeast Asia in Burgos, Ilocos Norte.
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ExcelAsia boosts training for BPO sector
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AMID the dearth of qualified applicants for the local business
process outsourcing (BPO) industry, ExcelAsia said it is beefing up
the training of people who want to clinch a job in the sector.
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Filipino software firms to participate in Japan expo
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Filipino software developers will participate in an international
software development expo in Japan next week, according to the
Department of Trade and Industry (DTI).
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VIEWS
FROM
A BRIT
By Mike Wootton
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Trust and belonging
– European style
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I came across a most interesting study the other day; it was based
on data extracted from the European Social Survey. It was a survey
of “trust and belonging” in 22 European nations and it showed
that the UK had the lowest...
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