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Operation of WESM Visayas tied to power capacity additions
The timing of the commercial operation of the Wholesale Electricity Spot Market (WESM) in the Visayas shall be anchored on capacity additions as proposed by power investors, a ranking energy official has noted.
SEC approves Viva’s public offering
The Securities and Exchange Commission (SEC) headed by Chairperson Fe Barin on Friday gave Viva Communications, Inc. the go signal to conduct an initial public offering of 142.85 million shares at an offer price ranging from P9.72 to P12.93 per share.
Vietnam-China hi-way to get $ 1.1 B loan
HANOI (DPA) — The Asian Development Bank announced it had approved a loan of $ 1.1 billion, its largest ever, to build a superhighway between Hanoi and the town of Lao Cai on the Chinese border.
PSALM gives Monte Oro consortium 1 year
The winning bidder of the 25-year concession contract for the National Transmission Corporation (TransCo) will be given one year to secure a Congressional franchise before it can be granted legal rights to operate the assets.
Speculation fueling big oil price swings
NEW YORK, Dec. 22 (Reuters) — The surge in speculative investment in commodities has encouraged wild swings in daily oil prices this year, exaggerating trends and sometimes causing trade that seems to run against fundamental signals.
Exports of sand and gravel to Taiwan pushed to boost trade
Exports of gravel and sand and meat products are two major products that are expected to boost the country’s trade to Taiwan, the Philippines’ fifth biggest trade partner.
PSALM issues notice of award
The Power Sector Assets and Liabilities Management Corporation (PSALM) already issued the notice of award to winning bidder SN Aboitiz Power Hydro Inc. (SNAP Hydro) which submitted a purchase offer of $ 325 million for the Ambuklao-Binga hydropower facility.
BSP liberalizes rules on derivatives trading by banks
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved last Friday a new circular liberalizing banks’ derivatives trading, but the approved rules are less indulgent than originally planned.
Hike in milkfish production pushed
There is a need to increase bangus (milkfish) production by almost 600,000 metric tons (MT) by 2020 from its current production level in a bid to meet the demand requirements for milkfish, particularly for local human consumption, marine scientists disclosed.
ADB studies $ 100-million loan to NEA
The Asian Development Bank (ADB) is currently undertaking technical study and evaluation of the country’s electric cooperatives in line with the proposed $ 100-million loan to be channeled to the National Electrification Administration.
Rationalization of fiscal incentives: DoF urges Congress’ action on 2 bills
Finance Secretary Margarito B. Teves has asked legislators, again, not to delay the legislation of two congressional bills that would improve and raise additional tax collection of up to R30 billion once passed.
China hikes capital market investments
BEIJING (Dow Jones)—China’s regulators said Saturday the government will expand investment in overseas capital markets next year, and as part of this, it will allow certain financial institutions to invest clients’ money in markets probably including Germany and Japan.
P/$ rate stands at P41.52/$ 1
The peso exchange rate stands at P41.52 to the US dollar, its closing on Friday at the Philippine Dealing & Exchange Corp. (PDEx) from P41.84 the previous day. The weighted average rate appreciated to P41.683.
P/$ rate stands at P41.52/$ 1
The peso exchange rate stands at P41.52 to the US dollar, its closing on Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate appreciated to P41.683.
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