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ASIAN
Development Bank (ADB) president Haruhiko Kuroda speaks
during a press briefing at the ADB’s 41st Annual Meeting
of the Board of Governors in Madrid, Spain. The ADB
estimates that more than a billion poor people in Asia who
live on a dollar a day or less are in danger because of
skyrocketing prices of staples such as rice. Related
story, “ADB ready to help in food crisis,” -- AP |
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Asia: World’s main growth engine by 2020 |
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MADRID,
Spain—The
Asian Development Bank (ADB) envisions the Asian region to
become the world’s main engine of economic growth—one that
has its own currency and allows for the substantial movement
of all workers by 2020.
In its
report titled “Emerging Asian Regionalism,” the ADB said
Asia will account for as much as 35 percent of world gross
domestic product (GDP), from only 28 percent in 2005. |
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CSOs
ask ADB: Reveal private equity fund list |
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MADRID,
SPAIN—Civil-society
organizations (CSOs) are asking the Asian Development Bank (ADB)
to reveal the names of some 40 offshore private firms which
allegedly received private- equity funds from the bank.
In a meeting
with ADB president Haruhiko Kuroda Saturday, CSOs flooded
Kuroda with questions on the $600-million private-equity
funds that the bank invested in offshore firms. |
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Globe ban in Global City nixed |
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THE claim of
Bonifacio Communications Corp. (BCC) and Philippine Long
Distance Telephone Co. (PLDT) that they have exclusive
rights to operate within the Bonifacio Global City (BGC)—to
justify blocking the bid of Globe Telecom Inc. to also
operate in the area—has been rejected as unconstitutional by
the Department of Justice (DOJ).
The
department thus affirmed the stand of the National
Telecommunications Commission (NTC) that the Constitution
prohibits any carrier from claiming exclusivity in the
operation of public utilities within any given service area. |
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GSIS
chief serious about raps; Meralco rebuts claims |
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GOVERNMENT
Service Insurance System (GSIS) president and general
manager Winston Garcia plans to press criminal and civil
charges against the management of the Manila Electric Co. (Meralco)
on the basis of the previous Supreme Court (SC) findings
that the country’s biggest power-distribution utility firm
overcharged its customers.
In an
exclusive phone interview with the BusinessMirror, Garcia
claimed the management had lost the decency to run the
company ever since the SC decision was rendered. |
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DBCC
reviewing forecasts on growth, inflation as prices rise |
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EXPERTS in
the country’s economic and financial agencies are due to
review their macroeconomic projections this week; and this
early, the word coming out of the agencies is that there
will be a slight divergence in growth figures but a
consensus on inflation being higher than earlier projected,
as the impact of the rising prices of oil, food and other
items start to be felt. |
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Gas,
rice, bread–and now, meat |
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AFTER
soaring gas prices, then those of rice and bread, consumers
now face a new burden, as prices of meat continue to rise.
Agriculture
Undersecretary Salvador Salakub revealed at the weekend that
the selling price of chicken, pork and galunggong recently
shot up as high as P20 per kilo over the past two weeks. |
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MORE STORIES ... |
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Exploding
dandelions.
China, the originator of the fireworks display, kicks off
this year’s World Pyro Olympics. The annual competition of
orchestrated aerial chaos will continue on May 10, 17 and 24
at The Esplanade, behind SM Mall of Asia.
--LEON MEDADO |
