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Monday, September 14, 2009 |
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A YEAR AFTER LEHMAN COLLAPSE
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CalPERS stays in RP despite global economic downturn
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By Likha C. Cuevas-Miel, Assistant Business
Editor
THE biggest pension fund in the US said it has not pulled out its
investments in the Philippines
despite uncertainties in emerging markets after the fall of Lehman
Brothers a year ago.
In an e-mail, the California Public Employees’
Retirement System (CalPERS)—which has about $901.4 billion in
investments worldwide—said that as of June 20 this year, its
placements in companies listed in the Philippine Stock Exchange (PSE)
dipped almost 33 percent to around $36 million from $53.7 million
the same period a year ago.
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Local bourse seen to keep rising on liquidity flows
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PHILIPPINE shares will likely keep rising this week as Wall Street
advances and liquidity flows freely between global markets, dealers
said Friday.
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Monetary Board approves foreign loan for RoRo expansion
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THE Arroyo government’s Roll-on Roll-off (RoRo) project got a shot
in the arm with the Bangko Sentral ng Pilipinas’ (BSP) approval of
financial assistance by BNP Paribas and Calyon earmarked for the
transport system’s expansion.
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World Bank arm extends energy financing to BPI
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THE private investment arm of the World Bank will provide financing
to Bank of the Philippine Islands (BPI) for building the lender’s
sustainable energy portfolio.
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TA Oil drops out of race to develop jatropha
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TRANS-ASIA Oil and Energy Development Corp. (TA Oil) has pulled the
plug on its alternative fuel venture that was anchored on the
jatropha curcas plant. Fransisco Viray, TA Oil president, said
the company decided to stop its....
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San Miguel shareholders swap stocks–arrangers
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THE joint lead arrangers and receiving agents for San Miguel
Corp.’s (SMC) share swap program said over the weekend that many
of the conglomerate’s stockholders exchanged their common shares
into preferred shares.
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French company looks to RP for wind power deals
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A RENEWABLE energy firm based in France is looking to the
Philippines for wind
power development projects.
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Pacific Pearl sets up hub at Subic International Airport
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PACIFIC Pearl Airways has made the Subic Bay International Airport (SBIA)
its home base as it begins operations in December, the Subic Bay
Metropolitan Authority (SBMA) said in a statement.
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Bayan asks for court reconsideration
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BAYAN Telecommunications Inc. has asked the Court of Appeals (CA) to
reconsider its decision, which effectively turned down the
company’s application for a 3G (third generation) frequency band.
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Tax bureau shuts MiniStop outlet
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THE Bureau of Internal Revenue (BIR) said it closed down a
convenience store for failing to pay correct taxes.
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Cigarette-maker seeks sin tax study
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PHILIP Morris Philippines Manufacturing Inc. (PMPMI) wants the
Department of Finance to conduct more studies on the impact of the
proposed restructuring of excise taxes on the viability of cigarette
and liquor manufacturers.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Sustainability: Black
air, green joke, red face
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YOU may not have noticed it, but only if you’ve breathed Pasay’s
toxic air courtesy of Manila Bay’s dumpsite, you’ll find out why
the country has been this year’s favorite place for major
international conferences on sustainability.
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