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Senators Benigno Simeon "Noynoy" Aquino III and Manuel Villar Jr. continued to engage in a neck and neck race for the country’s top post, and were statistically tied two months before the May 10 elections, the latest Social Weather Stations (SWS) survey showed. The SWS poll, commissioned by BusinessWorld, showed that while Aquino remained...
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President Gloria Macapagal-Arroyo on Monday announced a new Cabinet reshuffle affecting two departments, two months before the May 10 elections. Education Secretary Jesli Lapus will be heading the Department of Trade and Industry (DTI), while Trade Secretary Peter Favila will become a member of the central bank’s Monetary Board (MB), Mrs. Arroyo said in...
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MANILA – The Philippines’ powerful Lopez business clan will sell its remaining 13.4% stake in Manila Electric Co. (Meralco) if it gets an attractive offer, or if it needs to make other investments or pay down debt, the family patriarch said on Friday. Oscar Lopez, chairman of the Lopez family’s power conglomerate First Philippine...
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MANILA – A group led by former Senator Wigberto Tañada has asked the Supreme Court to reverse its earlier ruling allowing the government to convert its sequestered common shares in San Miguel Corp. (SMC) into preferred shares. In a 26-page motion for reconsideration, Tañada, together with former assemblyman Oscar Santos, the Surigao del Sur...
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MANILA – The Supreme Court has affirmed with finality its July 22,2008 ruling that the dismissal of some 1,400 cabin crew personnel of local carrier Philippine Airlines (PAL) was illegal. In a 31-page resolution penned by Associate Justice Consuelo Ynares-Santiago, the Court’s Special Third Division denied for lack of merit the motion for reconsideration...
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