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Reyes courts energy sector investors from ASEAN
As he is barely new into the job, Energy Secretary Angelo T. Reyes told media that he will first try his luck inviting investors to the Philippine energy sector with neighbors in the ASEAN region.
Reform measures to raise P35 B more
Finance Undersecretary Gil Beltran said the government will collect P35 billion more revenues next year from reform measures that will be implemented by the Bureaus of Internal Revenue and Customs.
Business sentiment remains — BSP
The business community showed continued confidence in the economy as evidenced by company expansions in the expectation that business activities would surge in the fourth quarter, a central bank survey said.
Import growth rebounds 3.8% in June
The country’s merchandise imports grew by 2.3 percent to US$ 25.3 billion for the first six months of 2007 as the National Statistics Office (NSO) reported that imports payments recovered to 3.8 percent in June after two months of negative growth.
Biofuel investors eye India sorghum plants
Biofuel investors are engaging on a business mission to India to observe field trials on sweet sorghum in a bid to put up sweet sorghum ethanol plants in different parts of the country.
LBP finances P300-M palm oil methane plant
A P300-million palm oil plant in Maguindanao will help cut the country’s palm oil dependence and eliminate greenhouse gas emission (GHG) by capturing methane to power its plant.
Market track
The main market gauge closed slightly lower Friday at 3,206.94 after recent rebounds of more than 360 points this trading week, as investors decided to lock in gains in anticipation of a long weekend. A total of 1.78 billion shares changed hands worth P3.52 billion.
175-MW Ambuklao-Binga hydro plants set for bidding in November
With President Arroyo’s mandate on energy managers to accelerate the privatization of the generation assets of the National Power Corporation, the Power Sector Assets and Liabilities Management Corporation (PSALM) set next on the auction block the divestment of the 175-megawatt Ambuklao-Binga hydro power facilities.
Merged APC-MGE targets double-digit growth in RP market
APC-MGE, a global leader in critical power and cooling services, expects double digit growth in the Philippine market for 2007, newly appointed APC-MGE Philippines Country Manager Didier Chalumeau told reporters yesterday.
EXPORT ACTION LINE
The trans fat labelling rule promulgated by the US Food and Drug Administration (FDA) on July 9, 2003 is already changing consumer demand and encouraging product reformulation in the US – as expected by the FDA. The trans fat labelling rule is a pronouncement by US-FDA on food labels as follows: That the trans fat content of food must be listed in the nutritional facts panel of conventional food products and some dietary food supplements by January 1, 2006.
P/$ rate closes at P46.70/$ 1
The peso exchange rate closed lower at P46.70 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P46.64 the previous day. The weighted average rate depreciated to P46.765 from P46.418. Total volume amounted to 1.83 million.
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