More banks and financial institutions that are currently saddled with billions of pesos worth of non-performing assets (NPAs) are expected to subscribe to the special purpose vehicle law (SPV) of 2002 following the issuance of a package of tax privileges by the Bureau of Internal Revenue (BIR).
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The Department of Agriculture (DA) is allowing the importation of 5,000 metric tons (MT) of chicken at a special mechanism, but local broiler producers are opposing the move saying government has mindlessly approved the special import without studying the present situation to the detriment of local
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The Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) has filed a petition with the Energy Regulatory Commission (ERC) seeking the removal of inter-class subsidies that is seen to provide them rate reduction of up to P0.6306 per kilowatt hour (kwh) upon implementation.
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The Bangko Sentral ng Pilipinas reiterated that there would be no monetary tightening despite the global oil price issues, which are threatening to put pressures on the country’s full-year inflation due to its impact on transport fares.
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The peso closed at P55.98 to the U.S. dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines, from P55.97 on Tuesday. The weighted average rate depreciated to P55.958 from P55.915. Total volume amounted to $100.1 million.
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Giant utility firm Manila Electric Company (Meralco) has reported 3.0-percent growth in its energy sales in the first four months; with April sales registering a significant expansion of 5.0-percent.
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Benguet Corporation narrows down its loss for the first three months of 2004 to P70.6 million from P76.8 million same period last year on the account of improved performance of two of its mining operations.
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Smooth sailing for the economy seems to have been assured as the political as well as currency storms have subsided. But it will be no easy job for the new President and other top economic planners. Tougher days are still ahead.
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Security Bank Corporation reported that it realized a net income of R278 million in the first four months of the year, resulting in a continued improvement in its annualized return on equity to 8.1 percent from the 6.4 percent earned in 2003.
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HONG KONG — First Pacific Company Limited (FPCL), which owns around 24.3 percent of the country’s biggest telephone firm, "will consider increasing its stake in the Philippine Long Distance Telephone Company (PLDT) Chairman Manuel V. Pangilinan told reporters after FPCL’s annual general meeting here
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Australia should now rightfully allow the Philippines an "unrestricted" entry into its market having failed to prove with scientific evidence its claim of disease infection on local bananas and having failed to provide a "validated method to impose risk management measures."
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Cebu Pacific Air, the country’s second biggest airline, is seeking tax and fiscal incentives with the Board of Investments (BOI) for its $300 million refleeting program starting first quarter of 2005.
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The country’s employers will hold an employment summit this August to help the newly-elected administration shape and act early on doable programs for job preservation and creation, the Employers Confederation of the Philippines (ECoP) said yesterday.
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The Bank of the Philippine Islands (BPI) announced yesterday major executive movements in the bank.
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The government has called on the industry sector to improve environmental compliance through self-regulation and adopt cleaner production technologies.
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United Laboratories marked another milestone in its commitment to serve Filipino physicians during the 97th Philippine Medical Association Convention on May 19-22, 2004, at the Manila Hotel.
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DASMARIÑAS CAVITE—Incumbent Mayor Elpidio Pidi Barzaga Jr. proves for the third time that he has the mandate of his people when he beats by a landslide in the Mayoral race former BIR Regional Director and Lakas-CMD Standard Bearer Lucien Sayuno. According to the final tally of the Dasmariñas municip
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President Gloria Macapagal Arroyo has declared her all-out support to the United Nations Literacy Decade (UNLD) which covers the period 2003 to 2012, the Department of Education (DepEd) announced recently.
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COTABATO CITY — A group of Mindanao K4 volunteers and several nongovernment organizations (NGOs) led by Mindanao Women’s League and Establishment (MINWOLE) headed by its president Sharifa M. Macarandas and Sultan Engr. Asgat Mohammad Ben Sani, chairman of 28th Sultanate Legislative Council of Lanao
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Aside from shutting down its operation, the Laguna Lake Development Authority (LLDA) has also ordered a Manila restaurant commissary to shell out some R1.74 million in fine for repeatedly defying the lake agency’s call for them to put up a wastewater treatment facility.
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The Department of Education (DepEd) has delivered more than eight million textbooks to 2,112 public elementary schools in the country’s 23 "poorest provinces" in barely 12 months, it was learned.
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MANILA (PNA) — Reelectionist Rep. Elias Bulut Jr. of the lone district of Apayao has thanked the province’s voter who gave him a second term after winning by landslide over opponent Bambina Noble Perez in the May 10 elections.
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