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WB, dev’t partners back gov’t moves to soften price impact
Amidst opposition from some quarters on the move of Malacañang to set aside revenues from expanded value-added tax (eVAT) for subsidy, the country’s development partners supported the tack adopted by the Macapagal Arroyo administration to soften up the impact of the rising cost of living due to the uptick in oil prices.
US committed to global trade deal
GENEVA (AP) – The United States’ chief trade envoy on Wednesday said Washington would support the struggling global trade talks regardless of which party wins the upcoming US presidential election.
End to bias for ‘favored lands’ sought
Developing countries have been urged to end their bias for "favored lands" in their economic policies by focusing intervention in non-irrigated areas and on inflation-reversing non-traded commodities.
Columbian plans P3-B electric auto assembly
Columbian Autocar Corp., assembler and local distributor of Kia cars, plans to invest P3 billion for the assembly of electric-powered motor vehicles in the Laguna International Industrial Park to provide environment-friendly cars to the local market and the ASEAN region.
MECO signs RP-Taiwan hiring accord
The Manila Economic and Cultural Office (MECO) and the Taiwan Economic and Cultural Office (TECO) have adopted and signed the Joint Implementing Guidelines (JIG) of the Memorandum of Understanding for the Special Hiring Program for Taiwan (SHPT) during the recent Philippines-Taiwan Third Joint Labor Conference held in Cebu.
NFA draws $ 300 M from credit facility with bank
With the rainy season in our midst, the national government is now preparing to build up the country’s rice reserves through importation.
GSEC 101 in northwest Palawan under evaluation
The Department of Energy (DoE) has set the record straight that the Geophysical Survey and Exploration Contract (GSEC) 101 for an offshore oil and gas prospect in northwest Palawan is still "under evaluation."
Malayan Bank obtains BSP trust business license
Malayan Bank, a savings and mortgage bank owned by Majalco Inc., LINQ Corporation, Liberty Flour Mills and the principal stockholders of GMA-7 Network, Inc., was granted a license to engage in trust and other fiduciary business by the Bangko Sentral ng Pilipinas (BSP) through its Monetary Board last July 24, 2008.
P/$ rate closes at P45.455/$ 1
The peso exchange rate closed higher at P45.455 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P45.65 the previous day. The weighted average rate appreciated to P45.576 from P45.629. Total volume amounted to $ 789.5 million.
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