BSP cautions investors on risks involving UITFs Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said investors of the reserve-free unit investment trust funds or UITFs, which replaced common trust funds, should be realistic and not to expect high returns all the time.
Chromite mine brings economic dev’t to historical Homonhon island A chromite mine in far-off Homonhon Island has wrought economic development to the land once known only to be Magellan’s first landing place in the country but has turned to be Philippines’ biggest producer of chromite concentrate.
TransCo plans transmission line for Hanjin shipyard facility in Subic A two-phased transmission line program is being primed by the National Transmission Corporation (TransCo), chiefly to cater to the requirement of reliable power supply of South Korean firm Hanjin Shipping Company Ltd., which will be putting in huge investment of up to .0 billion in Subic.
Nat’l savings rate rises to 28% of GDP The country’s national savings rate – or the amount of income saved – is higher last year or almost 28 percent of gross domestic product.
Furniture exporter embarks on 1,000-ha. abaca planting in Davao To sustain supply of furniture that uses Filipino indigenous materials to capture markets in the US and Europe, a local furniture manufacturer is investing in a 1,000 hectare planting of disease-free abaca in Davao.
Taiwan firm in Subic offers cheaper power rate Taiwan Cogeneration Corp. has offered to sell between P3.50- P3.60 per kilowatt-hour to Subic Bay Freeport, making the Freeport zone with the lowest power cost in Luzon, once its 0 million 300-megawatt power plant project in Subic goes on stream.
NEWS IN BRIEF The peso rate closed at P51.785 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.777.
