The government is implementing a package of policy reforms to address the country’s fiscal problems.
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Restoring confidence in the government after generally peaceful elections, US power company AES Corp. and Australian TransGrid has both signified interests in the country’s power transmission assets.
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The commercial banking system’s exposure to real estate sector for the whole 2003 grew by 2.7 percent to R195 billion from the previous year’s P189.9 billion, an indication that this segment of the economy continues to be attractive.
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With the minimum fare hike of P1.50 today, oil majors Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Philippines Inc. will no longer offer a P1 to P2 per liter discount on their diesel products.
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The peso closed lower at R55.88 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.795 the previous day. The weighted average rate depreciated to P55.817 from P55.745. Total volume amounted to $192.2 million.
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