| |
|
|
 |
 |
|
Congress approves extension of SPV Law for 2 more years
The bicameral conference committee of Congress has ratified the two-year extension of a law that allows banks to sell their non-performing assets free from some taxes.
Unemployment rises to 8.1% in Jan.
The country’s unemployment rate rose to 8.1 percent in January from 7.4 percent three months earlier, with the economy unable to create enough jobs in the agriculture and services sector that could offset losses in the industrial sector, the government said yesterday.
Ritz, Four Seasons eye Boracay hotels
Ritz-Carlton and Four Seasons groups of hotels are keen on putting up their own hotel and resort facilities in the country, particularly Boracay.
US wants comprehensive RP trade deal
The Philippine exploratory mission to the US on the proposed specific preferential trading for the garment sector was met with cold treatment as top level government officials, Congress representatives and its private sector still prefer a comprehensive free trade area (FTA) agreement.
Manila Water lowers rates, to borrow P1 B
Manila Water Company is reducing its tariff rates currently being charged to its customers in the east zone of Metro Manila in light of the recent appreciation of the peso while announcing a plan to borrow P1 billion.
NEWS IN BRIEF
The peso rate closed higher at P51.05 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P51.14 the previous day. The weighted average rate appreciated to P51.047 from P51.193. Total volume amounted to 3.57 million.
BSP to prepay $ 500-M loan
The Bangko Sentral ng Pilipinas is prepaying $ 500-million worth of syndicated loan six months ahead of maturity, which would save it $ 5.5 million in interests.
Exporters put ideal forex rate at P53-P54 to a dollar
Exporters yesterday said that the ideal level of the local currency should be between P53 to P54 to the U.S. greenback to maintain its competitiveness even as it said the likelihood of not meeting the 10 percent exports growth target this year largely to the strong appreciation of the peso.
NPC claims lower charge for generation
State-owned National Power Corporation (NPC) claimed that its basic generation charge of P4.1227 per kilowatt hour (kWh) is lower than that of the P4.6586 per kWh of the contracted independent power producers (IPPs) of Manila Electric Company (Meralco) as billed in February passed on in the March billing of end-consumers.
Remittances at $ 917 M in January, up 16.5%
Filipinos with work abroad remitted $ 917 million in January, 16.5 percent higher compared to figures recorded a year ago of $ 786 million, the Bangko Sentral ng Pilipinas reported yesterday.
Asian automakers build US plants as GM, Ford close some of theirs
CHICAGO, Mar. 15 (AFP) — A fundamental transformation is taking place in the US auto industry as Asian automakers increase their domestic production and market share while General Motors and Ford continue to shrink.
Escalating political turmoil threatens to overwhelm Thailand economy
BANGKOK, March 15 (Reuters) — Thailand has a matter of weeks to resolve the political turmoil engulfing Prime Minister Thaksin Shinawatra before it threatens to muzzle economic growth, analysts said on Wednesday.
|
|
|
 |
|
