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Inflation eases to 6.4% in July, lowest in 2 years
The country’s year-on-year inflation rate eased to its lowest level in two years at 6.4 percent in July due to falling food prices, raising the prospect that interest rates will remain on hold.
Oil prices fall as storm fears ebb
SINGAPORE (AP) — Oil prices continued to fall Friday as concerns eased that a tropical storm blowing through the Caribbean could damage oil facilities in the Gulf of Mexico.
SM Prime nets P2.6 B in 1st half
SM Prime Holdings, Inc. (SM Prime), the country’s leading shopping mall developer and operator, reported a 9 percent growth in net income for the first six months of the year to P2.6 billion from P2.4 billion in the same period 2005.
NG to raise P6.54 trillion in 4 years
The National Government will raise P6.54 trillion in revenues over four years, more than enough to fund infrastructure and social projects in the 2006-2010 Medium Term Philippine Investment Plan (MTPIP).
Organic durian dev’t for export eyed
The government is embarking on the propagation of organic durian which has huge potential as an export product with durian’s exotic nature and health benefits sought after by select foreign markets.
Gov’t can pay for projects — Teves
Finance Secretary Margarito Teves said the government will be able to pay for the infrastructure projects outlined by President Gloria Macapagal Arroyo during her annual address delivered last week.
P/$ rate closes at P51.52 to $ 1
The peso rate closed higher at P51.52 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P51.665 the previous day. The weighted average rate appreciated to P51.573 from P51.638. Total volume amounted to $ 549.3 million.
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