THE Development and Budget
Coordinating Committee (DBCC)
has recommended halving the annual subsidy given to government-owned
and -controlled corporations (GOCCs) and government financial
institutions (GFIs).
The inter-agency body tasked with
setting the country’s macroeconomic goals said the tax expenditure
fund (TEF) will range from P10 billion to P11 billion, down from
last year’s P25 billion.
THE listed holding firm of the Aboitiz group
announced on Thursday that profits jumped last year on the
improvement in its power business, which contributed the bulk of the
group’s earnings.
LOCAL share prices closed slightly higher on
Thursday, encouraged by Wall Street’s gains and a surge in prices
of gold and other metals overnight, dealers said.
THE Bangko Sentral ng Pilipinas (BSP) said the
decline of the country’s manufacturing sector couldn’t be solely
ascribed to the appreciation of the peso.
THE Intercontinental Hotel Group (IHG) has appealed
before the government to maintain the Loakan Airport in Baguio City,
even as President Arroyo pushes for its conversion into an economic
zone.
EUROPE’S leading customer relationship management
and credit management service provider has chosen the Philippines as
its regional customer contact headquarters.
DIVERSIFIED Financial Network
Inc. (DFNN) is set to fold in a Cambodian slot machine operator and
is eyeing similar deals in Japan and Singapore through its
wholly-owned gaming subsidiary.
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