The World Bank has upgraded its growth forecast for the Philippine economy this year.

Newly-appointed Trade and Industry Secretary Jesli A. Lapus vowed to concentrate on three to six urgent matters.

The local outsourcing sector has moved up in the value chain by going into new domains such as business analysis, financial accounting, and map-making.

Utility giant Meralco is still exploring the possibility of refinancing an additional P5.5 billion worth of loans maturing in the immediate term.

San Miguel Corporation reiterated that it has yet to receive any offer or proposal for the sale of its shares in either Meralco or San Miguel Brewery Inc.

The Koreans, with about 154,000 of them reported as immigrants, are the biggest group of foreign nationals in the countries of Southeast Asia.

State-run Social Security System (SSS) expects to collect P1.02 billion from employers this year under its amnesty program that would condone penalties on overdue contributions.

Investors have pressed for continuity by the new administration of the pro-business administration of President Gloria Macapagal Arroyo.

The Philippine-proposed “Save Our Industries Act” legislative piece to save the country’s sunset garment and textile industry is expected to be filed in the US Senate by end this month.

Subsidies to government owned and controlled corporations and government financial institutions dropped 38 percent in January.

National Power Corporation has logged massive revenue shortfall of P5.0 billion from operations at its Small Power Utilities Group last year.

Two key industrial policy programs – the 2010 Investment Priorities Plan and the new Motor Vehicle Development Program – have been endorsed to Malacañang.

The bidders in the scheduled divestment of the 246-megawatt Angat hydropower plant will likely be offered the old or existing water protocol as the basis for the operation and maintenance agreement.

The technical level of the Committee on Tariff and Related Matters is inclined to revert back to zero the import tariff on steel from 7 percent because of the unstable production of the country’s biggest steel producer, Global Steel Philippines Inc.

The National Competitiveness Council together with the American Chamber of Commerce has recommended that the next administration should prioritize the passage of key economic reform measures.

The Business Process Outsourcing sector grew by 25 percent and employed some 400,000 highly-skilled professionals.

Cagayan will have to activate the multiple uses of water systems to ease the severe effects of the El Niño drought.

Chemrez Technologies Inc., the country’s top biodiesel, resins and oleochemical producer, reported that its consolidated net income jumped 26 percent to P468 million last year.

ABS-CBN Broadcasting Corporation reported that more Filipinos tuned in to its shows in all parts of the country from sign-on to sign-off, weekdays to weekend in February 2010.

State-owned National Development Co. is just awaiting for a confirmation by Chevron Philippines, formerly Caltex Philippines, on the agreement covering the extended lease of the San Pascual, Batangas property.