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Teves prefers granting of non-tax incentives
Finance Secretary Margarito Teves said yesterday he preferred the granting of non-tax incentives to investors that would commensurate the fiscal perks granted to investors by other countries as he stressed the country’s need to conserve its revenues.
45 firms seek NPC direct connection
Enticed with the offer of competitively-priced electricity, at least 45 of the country’s biggest industrial customers have sought direct connection with the state-owned National Power Corporation, its marketing and commercial department has reported.
Innovative products for OFWs urged
Government regulators have asked players in the banking industry to come up with innovative financial products, specifically, for overseas Filipino workers (OFWs) and their beneficiaries to capture and channel a substantial portion of billions of dollars worth of remittances to productive channels.
Smart improves broadband service
Smart Communications Inc. has improved the customer care and network operations of its fixed wireless broadband offering, Smart Bro, to benefit the over 40,000 subscribers of the service.
Lower petrochem MFN tariffs sought
Domestic downstream industries would like the government to lower the most-favored nation (MFN) tariffs on midstream petrochemical products to 5 percent from the present 15 percent to give flexibility in terms of sourcing given the supply coming from the ASEAN region is very limited.
Shares close 3.97% lower
MANILA (AFP) - Share prices closed sharply lower Tuesday, losing 3.97 percent in the biggest single day loss for nearly seven years as local investors caught up with Monday's global downturn, dealers said.
P/$ rate closes at P52.72 to
The peso rate closed lower at P52.72 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.65 last Friday. The weighted average rate depreciated to P52.824 from P52.629. The volume of transactions amounted to 0.5 million.
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