President Donald Dee of the Philippine Chamber of Commerce and Industry (PCCI) said yesterday that businessmen and prospective foreign investors have already begun noting solid signs of economic recovery following the fallout from negative factors like the Asian crisis and the past three years of soaring world crude prices, but if the spate of unsubstantiated charges against the government continues, this growth may be derailed.
|
 |
With new tax measures to boost state coffers, the government may have to reduce its borrowing needs, currently programmed at $4 billion for 2005.
|
|
Insurance firms will have to brace up for new capitalization requirement in the wake of the support of the Department of Finance (DoF) to the plan of the Insurance Commission (IC) to increase the paid-up capital of both life and non-life insurance companies.
|
|
The Coconut Industry Investment Fund Oil Mills Group (CIIF-OMG), the country’s largest coconut oil producer taking up about 50 percent share of the export market, may embark in the trading of palm olein in order to boost its coconut oil export.
|
|
The government is stepping up efforts to protect consumers from the sale of fake and substandard auto parts like uncertified batteries and tires in light of the recent road accidents that claimed the lives of several passengers.
|
|
The Monetary Board, policy-making arm of the Bangko Sentral ng Pilipinas has approved the extension of a loan worth $1.5 million to Peoples Television Network or PTV-4.
|
|
The peso rate closed at P54.575 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P54.641.
|
|
State-owned investment arm National Development Co. (NDC) is confident of raising P8 billion as its equity on vital infrastructure projects estimated at P100 billion.
|
|
Instead of legalizing jueteng as some sectors were proposing, Finance Secretary Cesar V. Purisima is pushing for the mergers of Philippine Amusement and Gaming Corp. and the Philippine Charity Sweepstakes Office, two of the government’s source for its social funds, to improve regulation of allowed gambling and gaming operations.
|
|
Infrastructure spending in the Philippines has lagged behind population growth, undermining the country’s ability to attract badly-needed investments, a draft report by the World Bank made public yesterday said.
|
|
The Bureau of Treasury raised the volume of T-bills it awarded for six-month and one-year maturities by P800 million ($14.7 million) each due to high tenders.
|
|
The total rate adjustment of P1.03 per kilowatt hour (kwh) granted to state-owned National Power Corporation (NPC) is seen bringing down its losses significantly to as low as roughly P40 billion, as against the P82.8-billion projected losses for this year.
|
|
The peso rate closed lower at P54.71 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines P54.575 last Friday. The weighted average rate depreciated to P54.706 from P54.641. Total volume amounted to $228 million.
|
|
|
