Business
Oil firms to slash prices on Sunday
MANILA, Philippines – Several oil companies have announced that they will reduce petroleum prices on Sunday.
Crisis dims dreams for Europe's poor east
Five years after joining the European Union, this town 13 miles outside of Romania's capital is still waiting for the jump in living standards its politicians said membership would bring. Four out of five people have no indoor toilet or running water.
Pepsi investing P1.5 B on add'l bottling lines
MANILA, Philippines - After posting a 606-percent increase in first quarter net profits, Pepsi-Cola Products Philippines Inc. (PCPPI) is expanding its production capacity by investing roughly P1.5 billion for three more bottling lines that will be put up this year.
BIR drafts new VAT refund rules
House OKs bill exempting foreign airlines from taxes
MANILA, Philippines - A bill seeking to exempt foreign airlines from at least three taxes has been approved on third and final reading at the House of Representatives.
Gov't to keep present borrowing program
MANILA, Philippines - The Department of Finance (DoF) wants to keep its present foreign and domestic borrowing plan, in anticipation of a spike in state spending for the rest of the year.
Aboitiz Power says Bakun plant repairs to be finished by October
MANILA, Philippines - Repairs on the 70 MW Bakun hydro facility in Ilocos Sur is taking longer than expected, according to its operator and manager Luzon Hydro Corp. (LHC).