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Latest News Headlines from in and around the Philippines
News Headlines in and around the Philippines
We've gathered the following news items to quench your taste for information. Now the information you need is just a click away!
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The Importance, Relevance Of Statistics
MANILA, Philippines — Numbers intimidate. So said one of the speakers at the recent consultative workshop held by the National Statistical Coordinating Board (NSCB) for the formulation of the Philippine Statistical Development Program (PSDP) 2011-2017. Perhaps this is one reason why, other than its being almost incomprehensible to most laymen, statistics is not given as much attention as it should be by most people and especially by those in authority, such as those who have the power of the purse.
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Obama's Report
MANILA, Philippines — It’s that time of year, when the US President reports on the state of the nation, and plans for the future. With the 2012 elections coming up, President Obama’s speech was both the conventional report and a bid for reelection.
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Landbank Reports P9-B 2011 Income
MANILA, Philippines — Land Bank of the Philippines reported an income gain of P9 billion in 2011, up 11 percent year-on-year on strong revenues, loans and “clear institutional focus,” its President and CEO Gilda E. Pico said Monday.
One of Landbank’s mandates is to provide loans to the agriculture and agri-business sectors such as small farmers and fisherfolk, small and medium-sized enterprises and microenterprises. It is also a conduit for international loans and credit for government agri-based projects through local government units.
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Tourism Sector Will Get Bulk Of Infrastructure Budget For 2012
MANILA, Philippines — The national government has lined up several programs and projects to make the Philippines one of the most vibrant tourism destinations in the world and hit its target of ushering in 4.6 million tourists this year.
Budget and Management Secretary Florencio B. Abad said that much of the P182.2 billion government infrastructure program for 2012 will be used to build airports, roads and bridges that are instrumental in attracting tourists to visit the various attractions in the country.
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Government Lifts Tariff On Wheat
MANILA, Philippines — The government has removed for good the tariff on wheat imports, a move that would give local flour millers a level playing against flour imports and hopefully bring down prices of flour.
Trade and Industry Secretary Gregory L. Domingo told reporters the zero tariff on wheat imports is part of the government’s Comprehensive Tariff Reform Program, which was approved last January 14.
Domingo said the zero tariff would impact on locally milled flour in three months.
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Create Roadmap First Before Incentives
MANILA, Philippines — Trade and Industry Secretary Gregory L. Domingo has admonished the automotive industry to come up first with an industry roadmap before they ask for government incentives.
“There is nothing impossible as far as support, but the solution cannot be done by just asking For tax breaks there must be a plan,” Domingo said.
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Prudential Guarantee Requirement Is Equally Imposed On Open Access Suppliers
MANILA, Philippines — Stakeholders in the power industry are proposing that the prudential guarantee requirement being imposed on distribution utility-participants for trading at the Wholesale Electricity Spot Market (WESM) be equally enforced to the retail electricity suppliers (RES) under open access regime.
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BDO Issuing US$-Denominated Notes
MANILA, Philippines — BDO Unibank, Inc. is planning to issue US dollar denominated fixed rate senior notes which will be sold through a bookbuilding process to both international and local investors under the Reg S format.
In a disclosure to the Philippine Stock Exchange, the bank said these senior notes will represent direct, unsecured obligations of BDO. Proceeds of the Senior Notes will be used by the bank for general funding and re-lending purposes.
