MANILA, Philippines—Over a thousand Filipino workers repatriated from conflict-torn Libya were able to exchange their dinars for Philippine peso under the Currency Exchange Facility, which will expire on Friday, the Bangko Sentral ng Pilipinas said. The BSP said 1,575 overseas Filipino workers (OFWs) from Libya availed themselves of the central bank facility after their sudden [...]
MANILA, Philippines – Pilipinas Shell Petroleum Corp. is slashing prices of cooking gas by P2 per kilogram effective on Friday. This means that the price of an 11-kg cylinder of Shellane liquefied Petroleum gas (LPG) is going down by P22, Pilipinas Shell said. Shell, in a company statement, said the latest price adjustment reflected the [...]
The Department of Energy is seeking for ways to further bring down the P139 billion worth of universal charges that the Power Sector Assets and Liabilities Management Corp. (PSALM) wants to pass on to power consumers, to help ease the burden of high electricity prices.
Tycoon Andrew Tan plans to invest P20 billion in two major leisure estate communities in Boracay and Tagaytay through newly acquired property unit Global-Estate Resorts Inc. which will focus on tourism-oriented property projects.
President Aquino indicated on Thursday that Malacañang has been studying the possibility of intervening in the Supreme Court ruling that ordered the Securities and Exchange Office to find out whether the Philippine Long Distance Telephone Co., violated the Constitutional limit of 40 percent foreign ownership in businesses in the country.
Local stock prices rebounded on Thursday as selective buying of blue chips offset the weakness in index heavyweight PLDT, which is still hounded by a Supreme Court ruling questioning the company’s foreign equity ownership.
Some P2.7 billion in public funds seem to be at the bottom of the murder case of radio commentator Gerry Ortega in the Land of Promise—Palawan. That is, well, if you believe the groups—powerful political and big business groups—behind the media campaign to pin the Ortega murder on former Palawan Gov. Joel Reyes as the [...]
Government spending in May went over the budget by P9.6 billion, just about a third of the P30.26-billion overspending posted in the same month last year. This brought the budget deficit for the five months to P9.54 billion, just 6 percent of the P162.1 billion recorded in the same period of 2010. Budget Secretary Florencio [...]
The local real property sector is expected to maintain its growth trajectory in the coming years, driven by huge demand for traditional office and business process outsourcing space as well as retail establishments. Rick Santos, chairman and chief executive of real estate advisory firm CB Richard Ellis Philippines, said in a briefing Wednesday that the [...]
The Department of Energy (DoE) is set to unveil on Thursday 15 areas for possible oil and gas exploration, as it moves to reduce the country’s dependence on costly imported oil and ensure national energy security. Through the Fourth Philippine Energy Contracting Round (PECR 4), the government will offer investors contracts to explore and develop [...]
The rate of increase in consumer prices in June was expected to have breached the government’s threshold of 5 percent, due to increases in the salaries of government workers, tuition and prices of school supplies. This was according to the projection by the Bangko Sentral ng Pilipinas, which said inflation in June had likely settled [...]
Alveo Land Corp., the Ayalas’ mid-income residential property arm, has debuted into condominium development in Pampanga with the launch of a P1.7-billion mid-rise residential project near the group’s Marquee shopping mall complex. The venture into mid-rise residential tower development in Pampanga is a bet on the rise of a new central business district in that [...]
