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Friday, May 22, 2009 |
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Approval of MRT 7 looms
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By Darwin G. Amojelar, Senior Reporter
THE National Economic and Development Authority, Cabinet Committee (Cabcom)
will elevate the contract approval of the Metro Rail Transit Line 7
(MRT 7) project to President Arroyo after no one challenged the
proponent’s offer.
Ruben Reinoso, NEDA assistant director general
for infrastructure, said the Department of Transportation and
Communications (DOTC) will present to the NEDA Board the result of
the Swiss challenge and the terms of reference (TOR) of the project.
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NEDA pushes once-a-month oil price adjustment
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THE National Economic and Development Authority (NEDA) is pushing
oil companies to implement a monthly adjustment in pump prices to
reduce “volatility” and contain inflation.
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Interest payments lift end-April expenditures
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BELYING claims of higher infrastructure and social spending outlay,
interest payments were largely responsible for the up tick in
government expenditures in the first four months of the year, the
Department of Finance said.
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Energy dept. clears work on new oil, gas block
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The Department of Energy (DOE) has approved an accelerated
exploration program for the oil and gas block covering the Aboabo
gas discovery in offshore Palawan.
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US banking crisis seen to be ending
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WASHINGTON, D.C.: Renewed signs of health among big US banks is
sparking hope that the credit crisis is over, with the risks
diminishing for a new financial meltdown.
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Cement maker ventures into waste management
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Holcim sees boost from housing
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Holcim Philippines Inc. said it expects low-cost housing and
government infrastructure projects to fuel its growth this year amid
the cancellation of high-end commercial construction activities.
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ICTSI secures dollar loan to refinance existing debt
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INTERNATIONAL Container Terminal Services Inc. (ICTSI) on Thursday
said it has secured a multi-million-dollar loan from foreign banks
to refinance debts due next year.
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BPI thrift unit cuts interest rates to boost home-lending business
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BPI Family Savings Bank said it is cutting its housing loan interest
rate to boost its lending business this year.
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BOI extends tax, other perks to housing projects
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The Board of Investments (BOI) said it extended tax and other perks
to five mass housing projects.
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LandBank plans asset hike to keep current rank
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In light of the pending merger of two Lucio Tan-led lenders, the
Land Bank of the Philippines (LBP) said it will further boost its
assets to maintain its rank as the country’s fourth largest bank
this year.
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Regulator approves AgriNurture debut
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THE Securities and Exchange Commission (SEC) has approved the
listing of AgriNurture, Inc.’s shares by way of introduction with
the Philippine Stock Exchange (PSE) set on Monday next week.
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NDC bucks closure call made by ADB study
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The National Development Co. (NDC) has rejected the Asian
Development Bank (ADB)’s call for the gradual closure or
privatization of the state-run firm to rationalize “problematic”
government-owned and -controlled corporations (GOCCs) that have been
incurring losses.
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BIZZ
FIZZ
By Rene Martel
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Bankard honors the late
Larry Cruz
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SPOTTING dapper RCBC president and CEO Lorenzo Tan at the opening
party of Greenbelt 5’s latest upscale foodie destination—
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