Banker expects peso to gain more strength

THE Philippine currency is seen to remain at the P52 to P54 range against the dollar in the first quarter of this year and will have a “strong” chance to reach the P49 level, said a bank executive.
“But that will happen if credit rating agencies will change their outlook of the Philippines from negative to [...]

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Group calls on Pinoy IT workers overseas to help RP counterparts

The Cebu Educational Development Foundation for Information Technology (Cedf-it) is inviting Filipino IT professionals who work overseas to share their expertise with their colleagues in the country.
“We would encourage them to come and speak in our IT seminars and train-ings and share whatever they’ve learned abroad,” said Bonifacio Belen, Cedf-it executive director.
He admitted, though, that [...]

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RP economic growth rate in ’06 will stay at 5% – Luz

The country’s economic growth rate will continue to hover at five percent this year and will fail to achieve the level achieved by other Asian countries.
The country’s Asian neighbors have achieved a seven- to nine-percent growth rate level.
“Don’t be satisfied with a five-percent growth. There’s nothing to be happy about that. We should [...]

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Remittances to rise as more Pinoys go abroad

Remittances of overseas Filipino workers (OFWs) will remain strong and steady this year with more Filipinos going overseas to work.
Makati Business Club executive director Guillermo Luz said the number of Filipinos who left for work abroad last year increased by 12 percent over the previous year.
About 10 percent, or seven to eight million [...]

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Work on 2 Citylights towers to start soon; completion target set in 2008

Two 20-story towers will rise in hillyland Barangay Busay, Cebu City in 2008.
Syntech Properties Inc. and Cebu-grown contractor Primary Structures Corp. will begin soon the construction of the Citylights Gardens Towers 3 and 4.
Project owner Syntech and Primary Structures launched the project in a groundbreaking last week.
Syntech, in a statement, said they expect the two [...]

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RP economy to grow moderately – bank official

Amid the continued political noise, a bank official said the economy will continue to grow moderately, as the government is expected to keep its deficit spending at an acceptable level.
“We also expect the Philippines will get its first credit rating upgrade since 1997, which will result in the continued strengthening of the peso, as well [...]

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HSBC sees prospects for expansion in Cebu

THE Hong Kong and Shanghai Banking Corp. Ltd. (HSBC) is studying expansion opportunities in Cebu, a high-ranking official said.
“We are very encouraged by the business environment in Cebu and will be looking at options to increase our presence,” said HSBC deputy chief executive officer Martin Cook in an e-mail to Sun.Star Cebu. “Our expansion strategy [...]

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Bankers’ group urges banks to improve service to OFWs

Banks should continue improving their remittance services to serve more overseas Filipino workers (OFWs) who send money to the country, said Cebu Bankers Club president Grace Paras in an interview.
“Sending money through banks is better because of its quality and security features. Filipinos should be encouraged to send their remittances through banks,” Paras said.
She said [...]

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DAR 7 distributes over 6T has. in CV

The Department of Agrarian Reform (DAR) 7 has exceeded its target in 2005 and distributed over 6,000 hectares to qualified farmers in the region.
According to data furnished to Sun.Star Cebu by DAR 7, the office distributed a total of 6,938 hectares in 2005, one percent higher than its target of 6,850 hectares for that year.
Cebu [...]

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BPI remains confident despite foreign banking rivals

The presence of local and foreign banks does not threaten the Ayala-controlled Bank of the Philippine Islands (BPI).
BPI senior vice president for preferred banking segment Imelda Trillo said BPI has secured 20 percent of preferred clients nationwide.
BPI held last Friday an annual meeting with its 300 preferred clients at the Casino Español de Cebu.
“Competition is [...]

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