Energy Secretary Raphael Lotilla welcomed the Department of Justice (DOJ) opinion that relaxes foreign ownership restrictions in renewable energy sector. DOJ has opined that exploration, development, and utilization of inexhaustible RE sources are not subject to the 60:40 foreign equity limitation as provided under Section 2, Article XII of the Constitution. The DOJ also noted that the &ldqu...
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Mister President, Excellencies I am Ferdinand Marcos, President of the Republic of the Philippines. I stand today on behalf of 110 million Filipinos. At this time of crisis and opportunity, I bring with me the spirit of their enduring commitment to the ideals of our United Nations. This commitment is reflected in our solid contributions to the cause of peace and of justice. By shepherd...
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Inflation in the Philippines slowed down for the first time in six months to 6.3 percent in August from 6.4 percent in July, according to the Philippine Statistics Authority. National Statistician Dennis Mapa said the slight easing was mainly due to slower increases in transport fares and in the prices food and non-alcoholic beverages, especially vegetables, meat and fish. Inflatio...
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THE Marcos administration intends to complete 73 big-ticket infrastructure projects, costing P4.05 trillion, which were not finished during the previous administration, according to the National Economic and Development Authority (Neda). In a presentation at the organizational meeting of the House Committee on Flagship Programs and Projects, Neda Assistant Secretary for Investment Programming R...
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DAVAO City-based Alsons Development and Investment Corp. (Alsons Dev) expressed interest in investing in Cebu’s bustling property market. This was announced by Jolla Amparo Soriaga, assistant general manager for business units group, during the launch of the company’s Poblacion Market Central in Davao City. “We are open to possibilities of expanding in Cebu or in the Visaya...
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Consumer spending fell 2.7% in 2Q versus prior quarter Slower growth puts central bank’s tightening pace in spotlight The Philippines’ economic expansion was slower-than-expected in the second quarter as the fastest inflation in almost four years hurt consumption, which is a key growth driver. Gross domestic product grew 7.4% in the three months through J...
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