The Legislative-Executive Development Advisory Council (LEDAC) is formulating measures to fight corruption, one of the biggest obstacles to economic development and poverty reduction.
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Food and beverage conglomerate San Miguel Corporation (SMC) sustained its strong performance in the first semester of the year with consolidated net income reaching R4.0 billion, up 31 percent versus last year.
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The country’s inflation rate in July has accelerated to 6 percent from 5.1 percent in June 2004 due to fuel and fare hikes, high world commodity prices, and supply disruptions due to bad weather.
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Yields of government IOUs jumped by an average of 50 basis points yesterday in reaction to the surge in inflation rate to an average of 6.0 percent for the month of July, the highest in nearly three years.
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The peso closed higher at R55.78 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.90 the previous day. The weighted average rate appreciated to P55.840 from P55.884. Total volume amounted to $208 million.
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