The government is embarking on a cost reduction system for agricultural goods such as rice and corn to benefit consumers, stir up demand arising from low goods’ prices, raise farmers’ income, and create huge export earnings for price-competitive Filipino farm products.
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The government is being urged to start gaining decisiveness when it comes to setting in place attractive incentives for oil refinery investments if the country does not want to be left out in securing its longterm oil supply and to partly shield itself from drastic price upswings.
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The Power Sector Assets and Liabilities Management Corporation (PSALM) opens next week (January 10) until February 14 due diligence by interested investors on the 200megawatt Manila thermal facility which is due for privatization within the first quarter.
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President Gloria Macapagal Arroyo has signed Executive Order (EO) 389 which promulgates the sixth regular foreign investment negative list (RFINL) under the the Foreign Investments Act of 1991.
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The peso rate closed at P56.175 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P56.222.
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