BSP readies ‘full force’ response to tame peso, inflation NEWS

Euronav, one of the largest tanker companies in the world, will deploy one of its two ultra large crude carriers (ULCC) to store cleaner marine fuel ahead of a major regulatory change in 2020, the Belgium-headquartered group said on Friday.

The Civil Aviation Authority of the Philippines (CAAP) last week (February 26, 2019) granted Original Proponent Status (OPS) to the P42.7- billion unsolicited proposal of Aboitiz InfraCapital, Inc. (AIC) to upgrade, expand, operate and maintain the Laguindingan Airport in Misamis Oriental.

The National Competition Policy, a comprehensive framework that steers regulations and administrative procedures, is being finalized by the Philippine Competition Commission in another leap forward of the Philippines towards ensuring free and fair market competition.

Belle Corporation, a member of the SM Group, reported a 6 percent improvement in consolidated revenues to a record P8.5 billion last year from the P8.0 billion registered in 2017.

Credit watchdog S&P Global has raised the Philippine banking sector’s credit rating by a notch, noting that the amended New Central Bank Act will further strengthen and stabilize the financial system.

US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday.

Pump prices will be on very marginal but mixed adjustments this week – with the price of diesel going down by P0.10 per liter; while gasoline will climb by a very lean P0.10 per liter.

The Department of Energy (DOE) is calendared to promulgate this week the final approval of the liquefied natural gas (LNG) import terminal project of Lopez-led First Gen Corporation.

State-run Social Security System (SSS) said yesterday that the pension fund may begin to implement the higher contribution rate before June this year, and not starting today.