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Monday, April 27, 2009 |
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DUE TO LOWER INTEREST RATES, STRONGER PESO
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Govt posts savings in Q1
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By Lailany P. Gomez, Reporter
The Philippine government saved billions of pesos in the first
quarter due to lower interest rates on its debts and stronger peso
against the US dollar, the Bureau of Treasury said.
Data from the bureau showed that the government
saved almost P3 billion from interest payments.
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NGCP blames blackouts in Visayas on maintenance
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The ongoing maintenance work of the National Grid Corporation of
Philippines (NGCP) caused total blackout in Visayas area over the
weekend, sources said.
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DOE invites Recto to settle pump price conflict
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The Department of Energy (DOE) has invited the National Economic and
Development Authority (NEDA) chief to a conference to settle the two
government agencies’ different stands on fuel pump prices.
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Banks’ capital adequacy ratios rose in Q3 last year
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The Philippine banking system’s ability to protect depositors from
risks rose as of the third quarter last year with the increase in
lenders’ capital adequacy ratios (CARs).
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Earnings could raise local shares this week – dealers
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Local shares could rise this week if companies release favorable
earnings figures, dealers said on Friday.
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IMF agrees on stimulus measures, bank clean-up
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WASHINGTON, D.C.: The International Monetary Fund (IMF) on Saturday
said it had forged agreement on the stimulus measures taken to
combat the global financial crisis and the need to clean up bad
assets weighing on banks.
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Japan may make early recession exit
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TOKYO: Japan, one of the biggest victims of the global
economic downturn, may also be one of the first countries to exit
recession as its stricken export engine sputters back to life,
analysts say.
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Recession to last
longer than first feared – Aussie treasurer
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CANBERRA: The global recession is deep and likely to last longer
than first thought, Australian Treasurer Wayne Swan said, in
comments broadcast here Sunday.
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Fed to stay aggressive, but prepares for recovery
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WASHINGTON, D.C.: The Federal Reserve is likely to maintain its
aggressive efforts to lift the US economy out of deep recession but
also seek to lay the groundwork for a potential recovery, analysts
say.
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Germany to talk with Magna on Opel stake – report
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BERLIN: Germany will hold talks in the coming days with Canadian
auto parts maker Magna International on taking a stake in General
Motors’ European unit Opel, the Der Spiegel magazine said
Saturday.
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Meralco eyes more renewable energy supply
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Giant utility Manila Electric Co. (Meralco) is keen on beefing up
its electricity supply derived from
renewable energy sources. In a briefing, Meralco
President Jose de Jesus said that the company plans to secure
additional supply from...
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Eton to launch new projects in Q3V
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BORACAY, AKLAN: The real estate unit of airline and tobacco tycoon
Lucio Tan plans to launch two projects in the third quarter of the
year as demand for housing picked up in March.
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GSIS profit climbs as premiums pick up
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The Government Service Insurance System (GSIS) said its net income
for last year grew by double digits as its insurance premiums inched
up year on year.
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SMIC bonds get highest rating
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PhilRatings announced over the weekend that it assigned the highest
rating to SM Investments Corp.’s (SMIC) proposed multibillion-peso
debt paper issuance.
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Subic locators expand operations
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Two locators at the Subic Bay Freeport Zone have recently expanded
amid the global economic slowdown, the Subic Bay Metropolitan
Authority (SBMA) reported.
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Regulator OK’s Piltel’s digital transmission network
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THE National Telecommunications Commission (NTC) has approved the
application of Pilipino Telephone Corp. (Piltel) to operate a
nationwide digital transmission network.
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First United secures approval for direct-to-home
satellite broadcasting
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FIRST UNITEd Broadcasting Corp. (FUBC) has obtained the green light
from the National Telecommunications Commission (NTC) to operate a
direct-to-home use satellite broadcasting system (DTHSB) nationwide.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Gazelle: The House of
conflicting hundreds
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SPEAKER Prospero Nograles said that there’s a big constitutional
issue with respect to the Supreme Court ruling for the new
party-list congressmen because the present Constitution only
provides 250 seats for the House of Representatives.
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