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By Lawrence Agcaoili
The Philippines expects to register another deficit in 2010, formally dropping its plan to balance the budget next year due to the global economic crisis.
BSP urged to scrap 2% loan-loss reserve of banks
By Eileen A. Mencias
Banks have urged the Bangko Sentral to scrap the 2-percent loan loss reserve required of them to cover for losses in the event of loan defaults.
UnionBank declares P718-m cash dividend
The Aboitiz-controlled Union Bank of the Philippines declared a cash dividend totaling some P718 million, or equivalent to P1.12 per share, the bank said in a disclosure to the stock exchange yesterday.
Otto Energy postpones Calauit oil field project
By Alena Mae S. Flores
Otto Energy Ltd. has put on hold further developments at the Calauit oil field in offshore northwest Palawan until a new investor comes in and oil prices rebound in the world market.
Tomato paste maker eyes processing plant
By Othel V. Campos
Tomato paste producer Northern Food Corp. plans to go into finished products by putting up a processing plant that will add value to the company.
By Chin Wong
WHEN Apple released a beta test version of Safari 4 last week, it claimed it was the world’s fastest browser. Some tests have supported that claim; others have not. These speed contests remind me of the gunslingers of the Old West—being the fastest draw was usually an ephemeral state.
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