For the first time, the Department of Energy (DoE) has indicated that it is already fidgety over the lack of firm commitments from private investors to sink in capital for new power projects to meet future demand.
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The export sector has agreed with the suggestion of Finance Secretary Juliana Amatong for the restoration of the expired tax-free importation of capital equipment and raw materials by exporters and applied to all registered exporters.
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The inter-agency Development Budget Coordination Committee (DBCC) will adjust upwards this year’s revenue and disbursement targets without hurting the P197.8 billion budget deficit limit.
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The peso closed at P55.75 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P55.729.
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The Asian Development Bank (ADB) has programmed a total $712 million over the next three years, starting with $292 million this year, to the Philippines aimed at reducing poverty and boosting economic growth.
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Despite the government’s avowed adherence to fiscal discipline, the International Monetary Fund (IMF) remains cynical on the ability of the government to sustain the deficit reduction program due to the further erosion in the negative balance of National Power Corporation (Napocor) and the hike in g
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The Bangko Sentral ng Pilipinas (BSP) plans to institute a uniform internal credit system to guide banks in their lending activities with the end in view of preventing the possibility of a facility turning sour.
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The peso closed yesterday at an all-time low of P55.85 to the U.S. dollar due to the confluence of negative developments overseas and political jitters at home.
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The peso closed all time low at P55.85 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.75 last Friday. The weighted average rate depreciated to P55.803 from P55.729. Total volume amounted to $91.5 million.
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