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Gov't gets MB nod to issue P100-B bonds in tranches
The National Government has secured a standby authority to issue long-term local currency bonds worth up to P100 billion.
RP to seek $ 1B in ODA funding
The government expects official development assistance or ODA funds to exceed $ 1 billion this year.
Petron to sell biofuel as shelf item
Even with lack of proper testing undertaken yet on vehicle engines, partly state-owned Petron Corporation nonetheless conceded to government’s wish that oil firms sell coco methyl ester (CME) as a shelf item in gasoline stations.
Federation of Asian Motorcycle Industries to join int’l association
The eight-nation Federation of Asian Motorcycle Industries will become a member of the Geneva–based International Motorcycle Manufactures Association (IMMA) on April 1.
IPPs may resort to int'l arbitration if tax payment impasse persists
The independent power producers (IPPs) are bent on dragging the Philippine government to international arbitration proceedings as an ultimate recourse if the impasse on the payment of tax arrears on their power projects are not resolved in local courts.
Gokongwei’s P1.5-B Crowne Plaza hotel granted perks
The P1.505-billion Crowne Plaza Galleria Hotel, a new tourist accommodation facility of the Gokongwei-owned Robinsons Land Corp., has been granted a set of pioneer tax and fiscal incentives from the Board of Investments (BoI).
NEWS IN BRIEF
The peso rate closed at P51.04 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.066.
Petron net profit last year up by 77%
MANILA (Reuters) - Petron Corp , the country's largest oil refiner, beat expectations on Monday with a 77 percent jump in 2005 net profit to a record P6.04 billion ($ 118.4 million) due to higher export margins.
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