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Philippines-China Economic Partnership Forum
The two-day Philippines-China Economic Forum starts today at the historic landmark Manila Hotel where the two countries are expected to forge an economic cooperation program in the areas of infrastructure, tourism, agriculture and fishery that would chart the relationship of both countries in the next five to ten years.
Worth 0 million-0 million
The Asian Development Bank is set to sign three investment and financial loans this year worth at least 0 to 0 million to the Philippines.
BoI investments hit P101 B in 5 months
Investments registered with the Board of Investments (BoI) in the January-May period this year went up 11.35 percent to P101 billion as against P90.7 billion generated in the same period last year.
EO on local procurement by gov’t set
Malacañang has approved in principle the issuance of an Executive Order requiring all government agencies including the barangays to procure locally-made products as part of the government’s effort to conserve the country’s dollar reserves.
Highly skilled Filipino workers in demand in Middle East oil-producing countries
Oil-producing countries in the Middle East have indicated to Philippine government that they would need continuous flow of highly-skilled Filipino workers into their companies.
RP pilot-tests East Asia Emergency Rice Reserve
The Philippines will pilot-test the East Asia Emergency Rice Reserve (EAERR) with the shipment of 14,000 metric tons (MT) of Vietnam rice here in the next semester while the country also expects to receive 1,000 MT in rice donation from Japan.
NEWS IN BRIEF
The peso rate closed at P52.85 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P52.846.
Stocks seen going on consolidation
Share prices are likely to undergo some consolidation after a wave of selling last week as investors are watching on the sidelines.
Dollar stunned by weak US jobs report
NEW YORK, June 4 (AFP) — The dollar took it on the chin Friday after a much-awaited report showed weaker-than-expected job creation in the United States, suggesting the cooling of the world’s largest economy has begun.
ERC denies hand in Masinloc deal
The Energy Regulatory Commission (ERC) has debunked allegations that it has been dipping its hands so that the transaction for the 600-megawatt Masinloc coal-fired power facility could finally be concluded with winning bidder YNN, which recently took in Malaysian firm Ranhill Power Berhad as its new partner.
Gov’t urged to allow Rapu Rapu mine test run
The government should allow a test run of the Rapu Rapu mine as Lafayette Phils. Inc. (LPI) already spent P400 million in remediation based on government orders, or further delays on its operation will drive investors to more attractive sites like Indonesia.
Business and Society
In the next ten years, the global economy will be strongly powered by three economic territories in Asia, accounting for some 47 percent of the world’s population: China, India and the Association of Southeast Asian Nations (ASEAN). If you add Japan, South Korea and Taiwan to these three economic territories, you would have more than one half of the world’s GDP.
BIR chief backs Teves revenue goal
Bureau of Internal Revenue (BIR) Commissioner Jose Mario Buñag has now expressed full support for Finance Secretary Margarito Teves’ objective of meeting the government’s P975-billion revenue target for the year, adding that the agency is tapping all possible tax sources and further revving up collection efforts to support the effort.
‘Champions’ in power industry sector sought
With most of Asian countries standing proud of their viable and highly competitive power companies, the government’s attention is being pulled into the sphere that it shall also take enormous effort to support the development of "national champions" in its electricity sector.
Poro Point Seaport
A major civic group in Northern Luzon recently lauded the decision of Judge Robert Cawed of the Regional Trial Court Branch 29 of San Fernando City in La Union to stop the Bases Conversion Development Authority (BCDA) and its subsidiary Poro Point Management Corporation (PPMC) from taking over the Poro Point Seaport from its present private operator.
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