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Japanese government keen on funding RP renewable energy
The Ministry of Economy, Trade and Industry (METI) of Japanese government is keen on helping the Philippine government to source funding, including that from the Japan Bank for International Cooperation (JBIC), for planned renewable energy projects.
Banks seen to reduce ROPOA levels
Real estate properties owned and acquired (ROPOA) levels of the banking industry is expected to further improve with banks and financial institutions seriously considering going into join venture undertakings to turn its ROPOA inventories into performing assets.
Bulk handling facility rising in Quezon
A port and bulk handling facility in Sariaya Bay, Quezon which will be the country’s biggest and is envisioned to make the Philippines a transshipment hub in all of South East Asia is now almost completed.
International airport in Cagayan de Oro
The government is now looking at standalone, project-based infrastructure financing scheme to fully fund the construction of the US7-million Laguindingan International Airport in Cagayan de Oro.
Biomedical software firm set in RP
US-based medical biotechnology firm Bioimagene, supplier of world’s largest pharmaceutical companies, will invest in medical software outsourcing in the Philippines as the country can emerge globally-competitive here.
DTI pushes capital hike for freight forwarders
The Department of Trade and Industry (DTI) yesterday rejected calls to suspend the implementation of Administrative Order (AO) No. 6, series of 2005 or the revised rules on freight forwarding that seeks to increase the minimum paid up capitalization requirements for freight forwarding companies.
NEWS IN BRIEF
The peso rate closed at P51.30 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.408.
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