Manila Electric Co., the largest power distributor in the country, said Friday power rates will be lower in the February billing cycle on account of a net decline in the generation charge.
The Philippine government’s budget deficit widened sharply in July as spending surged to support major programs and infrastructure projects, outpacing a modest increase in revenues.
Philippine manufacturers are pressing the government to cut non-tariff barriers and administrative delays as a weaker peso pushes up the cost of imported raw materials, machinery, and fuel.
McDonald’s Philippines is widening its pool of local chicken suppliers as its restaurant network heads toward 900 stores, giving the domestic poultry industry another potentially sizeable customer.