Bangko Sentral ng Pilipinas said the Post-Program Monitoring of the International Monetary Fund is still useful and that generally, the PPM has been consistent and appropriate in its recommendations on policy directions such as fiscal, economy and debt management.
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The Philippine Economic Zone Authority (PEZA) has set a 25 percent increase in investments this year and 15 percent improvement in exports over last year’s performance.
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The Bangko Sentral ng Pilipinas reported a net income of R5.25 billion in 2004 or 20 percent lower than the P6.6-billion income in the previous year.
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While the market is gearing up for the maiden operations of Fixed Income Exchange (FIE) today, industry practitioners are apprehensive about the plan of the exchange management to impose a license with fee of P0.5 million before they can engage in business.
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The country’s hybrid rice industry, launched on a commercial scale at the Arroyo administration’s onset in 2001, has begun to create a domino effect not only on agriculture but on fast foods sector which benefits from consistent supply of quality and probably cheaper rice.
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State-owned National Power Corporation energy sales grew by 5.89 percent to 37,042.03 gigawatthours (GWh) in 2004, up from 34,980.18 GWh in 2003.
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The peso rate closed at P54.195 to the US dollar in a half-day trading last Wednesday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P54.189. The financial market, was closed for the Easter holidays and reopens today.
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The Bureau of Treasury rejected all bids during yesterday’s fortnightly Treasury bill auction to prevent yields from rising sharply.
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Food and beverage giant San Miguel Corp. (SMC) needs as much as 555,000 hectares to fill up its cassava import requirements coming from Vietnam, Thailand, and Indonesia which will require investments of P2.775 billion.
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Morgan Stanley Capital International (MSCI), a leading provider of global indices and benchmark related products, will soon include the Philippines in its roster of equity indices on a real-time basis.
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The Philippines is competing against India and South Africa for the huge promotion as business process outsourcing (BPO) hub for European companies.
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The peso rate closed lower at P54.48 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P54.195 last Wednesday. The weighted average rate depreciated to P54.393 from P54.189. Total volume amounted to $293.1 million.
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