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Inflation outlook remains manageable in near term
Bangko Sentral ng Pilipinas Governor-in-charge Diwa C. Guinigundo said the lower inflation for April of 7.1 percent suggests that near term inflation will remain "manageable."
Corn production seen growing 35%
The Department of Agriculture (DA) is foreseeing a 35 percent growth in corn production for the first half of the year to 2.67 million metric tons (MT), although this may not pull down planned corn import of at least 200,000 MT, the highest in three years.
EO on oil tariff cuts out by May 15
To avert any impending fare hike, the Department of Energy (DoE) is pushing that an Executive Order (EO) mandating reduction in import tariffs of crude and finished petroleum products to 1.0 percent from prevailing 3.0 percent be issued on or before May 15 this year.
CME producer Chemrez plans IPO
Chemrez, Inc., the country’s top producer of alternative fuel coco methyl ester (CME) is lining up among its medium-term business plan to undertake public listing via the Philippine Stock Exchange.
Rice-based drugs can be developed here
The Philippines can develop rice-based pharmaceutical products similar to rice drugs produced by international firm Ventria with the country’s strength in rice research, but it has to reinforce an entrepreneurial culture in successfully commercializing biopharmaceuticals.
UBP Board approves purchase of 67% of iBank
Union Bank of the Philippines (UBP), the country’s 12th largest lender by assets, said Friday its board approved a plan to acquire at least 67 percent of International Exchange Bank.
NEWS IN BRIEF
The peso rate closed at P51.61 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P51.517.
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