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JAIME
AUGUSTO ZOBEL DE AYALA II, chairman and CEO of Ayala
Corp., tells the 7th Management Association of the
Philippines International CEO Conference how big
business can make a difference in poverty alleviation
and promoting environmental sustainability. On the
sidelines of the conference, he hinted at the Ayala
Group’s interest in acquiring Philamlife, the country’s
largest insurer that became a casualty of the troubles
hounding its parent firm American International Group.
--NONIE REYES
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TOP STORIES |
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SM, Ayala eyeing Philamlife |
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CONGLOMERATES SM Group and Ayala Corp. are interested in
acquiring Philippine American Life and Insurance Co. (Philamlife).
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Inflation hits 11.9% in
September; slowdown due to lower oil, food prices |
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THE gradual
stabilization of oil and food prices cut down the country’s
inflation rate to 11.9 percent in September, according to
the latest figures released by the National Statistics
Office (NSO). |
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From ‘peak,’ BSP sees declining
inflation |
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THE
deceleration in Philippine inflation in September supports
the view that the peak had been reached in August at 12.5
percent, Bangko Sentral ng Pilipinas (BSP) Governor Amando
Tetangco Jr. said on Tuesday. |
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Sans
graft, MDGs could use P300B |
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THE
Philippines could save around P300 billion a year if it can
eradicate graft and corruption, according to a former
National Economic and Development Authority (Neda) director
general. |
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Nograles: Agencies that didn’t
meet goals face realignments |
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BUDGET cuts
are out and realignments are in when it comes to the
national budget if Speaker Prospero Nograles is to be
followed, and there seems no reason for the majority in the
House not to, being allies of the Arroyo administration. |
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To protect revenue goal, govt
‘stole’ P5,000 from worker |
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SEN. Mar
Roxas II accused the Bureau of Internal Revenue (BIR) of
“virtually stealing” P5,000 each from nearly 3 million
minimum-wage earners in insisting that the tax-exemption law
earlier passed by Congress took effect only in July and not
retroactive to January 2008 as envisioned by lawmakers. |
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16 senators okay Asean Charter |
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THE Senate,
voting 16-1, approved on Tuesday a resolution concurring in
the ratification of the Asean Charter, with Senate Minority
Leader Aquilino Pimentel Jr. casting the lone negative vote. |
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GMA orders contingency for
poor, OFWs in case of global recession |
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PRESIDENT
Arroyo on Tuesday ordered her economic team to craft a
contingency plan that would cushion ordinary Filipinos from
the adverse effects of a “possible” economic recession in
developed countries. |
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‘Poverty may drag RP into
financial crisis’ |
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EXTREME
poverty is still the biggest hindrance to Philippine
economic growth, and places the country at greater risk of
being dragged into the financial crisis contagion, a former
top official of International Monetary Fund (IMF) said on
Tuesday. |
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Explain new mining EO, Palace asked |
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DAVAO
CITY—The Mindanao Association for Mineral Industries (Mina)
has asked Malacañang to explain to the mining sector how the
secretary of the Department of Energy was given the
authority to “negotiate and conclude” joint ventures and
other forms of agreement on mining. |
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SC
affirms amparo grant to Manalos |
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THE Manalo
brothers—Raymond and Reynaldo—were granted a writ of amparo
that they had been seeking to prevent the military from
again harassing and arresting them. They had been previously
abducted and detained in similar fashion as the
still-missing Jonas Burgos, son of the late world
press-freedom hero Jose G. Burgos Jr.. |
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Nestlé Phils.assures safety of Kitkat |
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Nestlé
Philippines has assured the public that Kitkat, the popular
chocolate-covered wafers, are free from melamine
contamination. |
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MICHEL
CAMDESSUS, former IMF managing director and honorary
governor of Banque de France, explains how inflation is
affecting economies everywhere.
--NONIE REYES |
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