A Korean shipbuilding company is keen on investing $1-billion shipbuilding facility in Subic that is expected to transform the country’s premier Freeport into one of the world’s fourth biggest shipbuilding facility.
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New York-based investment bank Morgan Stanley forecast that the Philippines could emerge as a major global supplier of natural gas it is able to fully develop its renewable sources of energy.
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A team of the International Monetary Fund has recommended that the rice subsidies be incorporated into the national budget "to improve transparency and control."
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The Philippines’ bid for the extension of its rice quantitative restriction (QR) meets a last-stage hurdle as India seeks to negotiate for more concession at a time when government just awaits a final draft of the QR extension’s World Trade Organization (WTO) approval.
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The Philippines has recorded increased organic fertilize production reaching to 19,389 metric tons (MT) in 2004, up substantially from 2,758 MT the previous year, as farmers shifted to the cheaper, more environment-friendly fertilizer that serves a $25-billion organic food market.
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Giant utility Manila Electric Company (Meralco) fared well in reducing its system loss during the third quarter, with it registering 8.92 percent system loss which has surpassed the 9.5 percent cap for private distribution utilities set under Republic Act 7832 or the Anti-Electricity Pilferage Act of 1994.
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The peso rate closed at P54.63 to the US dollar last Thursday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P54.66.
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