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Dutch agency expands RP program to promote BPO
The Center for the Promotion of Imports from Developing Countries (CBI) of the Netherlands is expanding its program in the Philippines to further enhance the competitiveness of its business processing outsourcing industry as an international supplier of BPO services in the European market.
San Fernando airport expansion
The Bases Conversion Development Authority has approved the terms of reference (TOR) for the detailed engineering and design contract for the San Fernando Airport development in Poro Point, La Union that will pave the way for the airport’s planned expansion to accommodate bigger commercial airplanes like the B-737s.
DA maps out biotechnology program
The Department of Agriculture (DA) is embarking on a P1-billion biotechnology program that will tap Philippine indigenous plant species for value-added processing into pharmaceutical, cosmetic, and food products.
With Upper Mahiao asset’s turnover
The Philippine National Oil Company-Energy Development Corporation (PNOC-EDC) is expecting significant jump in revenues starting second half of this year with the turnover of the 125-megawatt Upper Mahiao generating unit of the Tongonan geothermal complex by US firm CalEnergy.
More OFWs now remitting via banks
The banking sector’s share of total remitted funds from Filipino migrant workers is advancing faster than the central bank has anticipated.
Extension of reduced oil import tariff eyed
The country’s economic managers are seriously studying the possibility of extending the implementation of the oil import tariff cut by another one month; so benefits for consumers can also be stretched.
NEWS IN BRIEF
The peso rate closed at P53.26 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P53.283.
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