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Senator Alan Peter Cayetano was elected as chair of two influential committees on Wednesday: the Committee on Trade, Commerce, and Entrepreneurship and the Committee on Higher, Technical, and Vocational Education.
MANILA, Philippines — Sen. Juan Miguel Zubiri, who stepped down as Senate president, has been elected chair of the Senate committee on economic affairs, replacing Sen. Mark Villar.
MANILA, Philippines — The retail price of pork reached as high as P420 per kilo, based on the latest monitoring of the Department of Agriculture in Metro Manila markets, as a ranking DA official maintained that some traders are involved in overpricing as the farmgate price of pork remains stable.
MANILA, Philippines — The United States Trade and Development Agency (USTDA) has approved the release of funds that will support efforts for the modernization and buildout of electricity transmission and distribution networks in the Philippines.
Megaworld [MEG 1.89, down 0.5%; 156% avgVol] [link] clarified the recent subscription of its parent company, Alliance Global [AGI 9.30, down 2.8%; 185% avgVol], to 1.375 billion common shares at P1.90/share to say that it is part of a plan to increase MEG’s outstanding authorized capital stock by P5.5 billion (from P40.2 billion to P45.7 billion). MEG explained that it “intends to submit its application for an increase in authorized capital stock... by around June 2024”, and will list the shares issued to AGI once the full payment of the subscription price is received. MEG said that the purpose of the sale and the larger transaction is to “support growth and future business expansions of [MEG] in line with [MEG’s] strategies and directions.”
The British Chamber of Commerce Philippines recently paid a courtesy visit to the Philippine Embassy in London to discuss trade and investment opportunities for British companies.
Video: https://www.facebook.com/ROBINPADILLA.OFFICIAL/videos/1593880821393797/
MANILA, Philippines — The Philippines’ balance of payments (BOP) position reverted to a $639 million deficit in April this year, data from the Bangko Sentral ng Pilipinas (BSP) showed.