HONG KONG — The Philippines, a member of the groups of developing countries G20 and G33 of the 148-member countries of the WTO, wants no less than a shield against instability of markets by the unlimited amount of subsidies that developed countries provide to their agricultural sector.
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The country’s net inflows of foreign direct investment for the first nine months to September rose 68.8 percent to $812 million from $481 million the same period last year.
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International chocolate makers M&M and Nestlé are seeking a supply agreement for cocoa beans from the Philippines which can become enormous export markets that should prop up farmers to raise production and upgrade quality.
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KUALA LUMPUR, Dec. 13 (AFP) — The strain of soaring oil prices is making Asian nations take a look at everything from windpower to coconuts to meet energy needs, but officials and analysts say there are no easy answers ahead.
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The Government Service Insurance System (GSIS) is determined on its plan to provide car accident insurance to the public provided it is allowed by the Department of Transportation and Communications (DoTC).
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Finance Secretary Margarito B. Teves said he would pursue the plan to exempt minimum wage earners from paying withholding tax, hoping a decision will be released next week after finalizing negotiations with the Labor department.
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The peso rate closed lower at P53.695 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P53.65 the previous day. The weighted average rate depreciated to P53.669 from P53.586. Total volume amounted to $321 million.
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The country is seriously considering another "Power Sector Program" loan with Japanese government, primarily to bankroll the Leyte-Mindanao transmission line interconnection project and boost power supply, primarily in the Visayas.
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Senator Manuel Roxas wants Rules on Trust Fund Investments to be revisited in order for pre-need companies to get better yield in terms of their trust fund investments.
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Evelyn R. Singson, President of eBusiness Services Inc., is the president of the Management Association of the Philippines (MAP) for 2006.
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The Philippines may concede to increase its minimum access volume (MAV) on rice imports but should resist pressures from rice exporting countries to lift its quantitative restrictions (QRs) saying that tariffication is not a very effective tool to prevent influx of imports and keeping prices low.
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The Philippines, Indonesia, Malaysia and Brunei Darussalam have agreed to improve their air and sea links to accelerate the growth of the BIMP-East Asian Growth Area (EAGA).
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SM Investments Corporation (SMIC) is acquiring the SM Supermarkets and SM Hypermarkets chains of retail stores from the Sy family and minority shareholders through a stock swap worth a maximum of P14 billion.
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Government financial institution Land Bank of the Philippines will issue preferred shares worth P2 billion and up to $100 million worth of short-term bonds next year to fatten up bank finances, a senior official said.
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HONG KONG — The 6th WTO Ministerial Conference opened here with Director-General Pascal Lamy calling for risk taking and boldness to attain a development agenda amid huge rallies greeting by non-governmental organizations accusing WTO of killing farmers from poor countries.
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KUALA LUMPUR, Malaysia (AP) — South Korea and Southeast Asia signed an accord Tuesday that calls for completing negotiations by the end of 2006 on freeing up trade, though a major hurdle remains over a rice import dispute with Thailand.
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NEW DELHI, Dec. 13 (Reuters) — Oil eased to $61 a barrel on Tuesday as OPEC’s move to trim output back to official limits looked in doubt, but losses were checked by the possibility of a production cut early next year and more wintry US weather.
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HONG KONG (AP) — Rich and poor nations were at odds as a World Trade Organization meeting opened here Tuesday, with trade ministers saying a breakthrough is unlikely on the thorny issue of agricultural trade that has held up negotiations for months.
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WASHINGTON (AP) — After 18 months in which the Federal Reserve has been pushing interest rates higher to keep inflation under control, the central bank appears to be getting close to the end of its rate increase campaign.
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The Power Sector Assets and Liabilities Management Corporation (PSALM) listed 11 contracts with independent power producers (IPPs) with an aggregate capacity of 5,609 megawatts due for initial transfer under the charge of IPP administrators.
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The capital raising activity of banks and other financial institutions will be hastened with the issuance by the Bangko Sentral ng Pilipinas (BSP) of the guidelines that cover hybrid Tier 1 capital.
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The overall performance of the industry in November this year based on the quarterly economic indices continued to post a healthy trend despite the increase in oil and consumer prices during the period.
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A thinning reserve compounded by an ever-growing electricity demand clued in the National Transmission Corporation (TransCo) on enhancing implementation of the interconnection of transmission lines in the Visayas; primarily in the power supply-short area of Panay island.
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