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Recto brushes off ruckus created by tapping into Philhealth funds
Finance Secretary Ralph Recto on Tuesday brushed aside fears of fiscal mismanagement over the deployment of agency funds into areas these supposedly were not originally intended for, saying the needs of some 115 million Filipinos take precedence over the ruckus that the deployment has generated.
Central bank investment income, NG deposits push BOP into surplus in July
The Philippines generated far more foreign currency earnings in July than it spent during the month, allowing the country to post a surplus in the balance of payments (BOP) totaling USD62 million.
MPIC agri unit steers clear of the meat business but ramps up vegetable, dairy operations
Metro Pacific Agro Ventures Inc., a unit of conglomerate Metro Pacific Investments Corp., is ramping up its vegetable and dairy operations by going into the chicken egg and carabao milk business.
BSP delivers first interest rate cut since pandemic
The Bangko Sentral ng Pilipinas cut its target reverse repurchase rate by 25 basis points to 6.25 percent, underscoring the monetary authority’s confidence that headline inflation is on a downward trajectory despite the spike in July.
ERC relents on genco pass on costs, signals consequent charge/unit rate adjustments
The Energy Regulatory Commission (ERC) on Thursday announced authorizing the Manila Electric Co. (Meralco) to collect on behalf of power generation companies or gencos so-called pass-on costs that have been denied the industry for some time, compelling some of the more heavily affected companies to seek prompt redress of their grievances.
