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Exports remain strong; $ 50 B expected this year
Exporters are expecting higher dollar receipts this year of at least $ 50 billion due to the strong mid-year performance of the electronics, consumer durables and garments exports.
Gov’t exceeds VAT target by P6.6 B
The government collected P23.7 billion value-added tax for the four-month period to April, about P6.6 billion more than target.
CalEnergy plans $ 300-M hydro plant for Mindanao power supply
US firm CalEnergy, an affiliate of MidAmerican Holdings, is queuing up $ 300 million probable investment for the proposed Agus 3 hydropower facility in Mindanao for a 225-megawatt capacity.
PSALM seeks MB nod for $ 700-M loan
The borrowing spree for National Power Corporation (NPC) continues with its transferee-company Power Sector Assets and Liabilities Management Corporation (PSALM) currently seeking the approval of the Monetary Board (MB) for new round of $ 700-million loan to plug its cash needs for the year.
105-day maturing rice available soon
A short-maturing rice that can be harvested in 105 days, faster by 10-15 days than other high-yielding varieties, may come out in the market in 2007 with the promise of saving farmers the trouble of losing their crop to calamities and starting up early for the next crop.
FPI backs restoration of ODPS scheme
The Federation of Philippine Industries (FPI) is asking the government to immediately address and resolve the recent suspension of the One Day Power Sale (ODPS) saying this would impact on the competitiveness of the manufacturing sector.
NEWS IN BRIEF
The peso rate closed at P53.115 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P53.055.
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