The country’s biggest oil firm Petron Corp. is seeking incentives with the Board of Investments (BoI) for its P572-million investments for the improvement of its 35 year-old grease plant to enhance efficiency and to meet environmental regulations.
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The Philippine economy has shown a considerable resiliency despite its slowdown in its gross domestic product (GDP) growth in the second half of 2005. The World Bank said that the economy grew by 4.7 percent in the first semester of the year compared to over 6 percent in the same period last year.
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The Philippines would be the least affected economy in Southeast Asia with the spread of the avian flu pandemic in the region.
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The government has hit its target of planting hybrid rice on 365,000 hectares this crop year, but this is obviously a far stretch from raising the country’s rice sufficiency rate even if yield adds up to the targetted rice output.
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The National Government expects proceeds of $3.1 billion from its bond offerings next year, a senior financial official said.
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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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The Bases Conversion and Development Authority (BCDA) yesterday lauded the move of the Senate committee on government corporations and public estates to provide tax amnesty and provide incentives to investors in the special economic zones in Clark, John Hay and Poro Point.
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The Department of Trade and Industry (DTI) has approved a proposal for the government to negotiate for a preferential trading agreement specifically for the garment sector with the US to save this labor-intensive industry, a top government official said.
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Splash Group of Companies of the Hortaleza family will expand its operations abroad by penetrating other Asean countries such as Thailand.
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Market players are expecting more positive news from the third quarter corporate results of listed companies.
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Bidding for North Davao Mining Corporation may have to wait until questions on the legality of its mining claims in Compostela Valley and their overlap with those of Apex Mining Corporation are first settled.
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Negotiations on the proposed Japan-Philippines Economic Partnership Agreement (JPEPA) have turned a positive twist with the private sector in the automotive industry from both countries now taking the cudgels to salvage the floundering proposed bilateral trade deal.
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Even in the face of remaining hurdles, the Department of Energy (DoE), being the oversight body in the privatization of the National Power Corporation’s (NPC) assets, has already placed its bet on the table that the government would be able to turn over the 600-megawatt Masinloc coal-fired power facility to the winning bidder by next month.
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NEW YORK, Nov. 6 (Reuters) — The dollar shot to 18-month highs against the euro on Friday, after the euro zone currency failed to breach $1.20 in the wake of a soft US payrolls report, unleashing a torrent of selling.
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Employment opportunities in the Middle East, Americas, Europe, and Asia for Filipinos will be made available by the Department of Labor and Employment (DoLE) through the Philippine Overseas Employment Administration during the DoLE First International Labor Mart in November 10 and 11 at the Philippine International Convention Center.
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The Spanish Government is in the hands of the socialists and can, therefore, be expected to be very protective of the labor sector. It is to the credit of the Spaniards that, despite a left-leaning government, they have been very creative in meeting the challenge of high rates of unemployment, a scourge which seems to be inflicting many European countries. Labor policy in Spain is more pragmatic and less ideological.
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It remains high on the inter-agency body overseeing implementation of the Expanded Value-Added Tax (EVAT) Law to sort out some remaining hitches, such as the proposed 2.0 percent presumptive tax for oil dealers and the 5.0 percent final withholding tax on sales of government entities.
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Bayan Telecommunications Inc. (Bayantel) has rolled out its triple play service to deliver Voice Over Internet (VOIP), broadband Internet and Sky Cable TV channels to households using a single line in Dumaguete City.
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JG Summit Holdings, Inc. will review the operations of United Industrial Corp. Ltd. in the event it gets control of the publicly-traded Singaporean firm. As the new controlling shareholder, the Gokongwei-controlled holding firm said it may securitize UIC Group’s property assets or establish one or more real estate investment trusts (REIT).
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Lippo Bank, the Singaporean-partner of Export and Industry Bank (EIB), is reportedly increasing its interest in the bank to reach a maximum of 40 percent allowed for an offshore institution.
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Philippine VISA country manager James Dixon expects their volume of cardholders — both credit and debit, will grow 30 percent in the next twelve months.
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