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Laguna keeps leadership in internal revenue collection
Laguna once again emerged as the number one among the 79 provinces in the country in terms of internal revenue collection in 2005 which stood at P11 billion.
Pressure to raise rates ebbs
Inflation rate in the Philippines decelerated on year in May, providing monetary authorities a wider scope to maintain their neutral policy stance despite prospects of further increases in US interest rates.
Cam. Norte mine eyes Chinese partner
An exploration venture backed by a UK-based company is eyeing a gold-copper mine in Camarines Norte for which it now seeks Chinese partner for future development.
British Embassy to build new building at Megaworld’s Fort Bonifacio project
The British Embassy has signed an agreement with property developer Megaworld Corporation to purchase a 1.2-hectare property for a new embassy building in Megaworld’s McKinley Hill township project in Fort Bonifacio, Taguig City.
BCDA sees P1.3-B income this year
State-owned Bases Conversion Development Authority (BCDA) expects to generate P1.3 billion in income this year from lease payments and joint venture development of former military baselands.
DBM has P10 B to pay gov’t retirees — Andaya
Budget Secretary Rolando Andaya said yesterday the government would fund the P10-billion requirements to pay government workers who will voluntarily retire this year.
NEWS IN BRIEF
The peso rate closed lower at P52.84 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.725 the previous day. The weighted average rate depreciated to P52.84 from P52.694. Total volume amounted to 7.5 million.
ERC to approve WESM fees, pricing this month
With the targetted commercial operation of the Wholesale Electricity Spot Market (WESM) next month, the Energy Regulatory Commission (ERC) indicated that it will target approval this June of the fees and pricing schemes that would govern transactions in the power pool.
Hedcor vies for Baguio hydro plant
Aboitiz-owned Hedcor Inc. is vying for the contract to operate three Asin hydro power plants at an upgraded capacity of 11 megawatts to supply power requirement of Baguio City, which is expected to experience power shortage in three years.
Atlas sees Carmen mine production in early 2007
Atlas Consolidated Mining and Development Corp. (ACMDC) is targetting for its Carmen mine an earlier production schedule in the first quarter of 2007 to seize opportunities of bigger revenue from higher metal price.
Quimbo cites big gains made by Pag-IBIG Fund in 3 years
The Home Development Mutual Fund (Pag-IBIG Fund) has moved "from strength to strength" in performance for the last few years, substantially contributing to the national economy through job creation and shelter finance.
Splash int’l marketing arm ups sales by 34%
Splash International Inc., the international marketing arm of the Splash Group of Companies, reported a 34 percent growth in sales for the first five months of this year versus the same period in 2005.
BoI to validate Global Steel exports
The Board of Investments (BoI) is hesitant to grant a certification of commercial operation to Global Steel Philippines Inc. pending the validation of the company’s purported exports.
RP firms explore Japan’s lifestyle market
The Philippines is exploring Japan’s lifestyles of health and sustainability (LOHAS) market to boost the country’s organic and natural product exports.
Asian currencies weak as Fed signals higher rates
SINGAPORE, June 6 (Reuters) — Asian currencies weakened on Tuesday after traders interpreted comments on inflation by the US Federal Reserve chairman as a signal that US rates would go still higher.
PNOC-EDC to cut wind power output
Due to cost overruns, the installed capacity of the wind power project proposed by Philippine National Oil Company-Energy Development Corporation (PNOC-EDC) will likely be slashed to 30 megawatts from the original 40 MW.
PLDT launches wireless solution for remote stores
The Philippine Long Distance Telephone Co. (PLDT) yesterday launched a new solution, Shops.Work UnPlugged (SWUP), to enable retailers and bankers to reach customers in areas where physical connections are unavailable.
PAGCOR sees P25-billion revenues this year, up 8%
The Philippine Amusement and Gaming Corporation (PAGCOR) expects to post revenue growth of eight percent or P25 billion this year, its highest official said.
Bernanke jolts markets with inflation worries
WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke is promising that the US central bank will remain vigilant in fighting inflation. The comments sent shock waves through financial markets hoping the Fed was about to call a halt to interest rate increases.
Container lines to raise prices on Asia-US route
SINGAPORE, June 6 (Reuters) — Shipping lines serving the busy route from Asia to North America will further increase the price of container shipments to the US East Coast in the upcoming peak season to cover higher costs.
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