The share of developing Asian countries, including the Philippines, in
global energy consumption will remain higher than their share of the
global economy, Manila-based lender Asian Development Bank’s (ADB) said
in a report released this week.
THE Manila Electric Co. (Meralco) will cut its generation charge by 84
centavos per kilowatt-hour (kWh) this month, giving some relief to power
consumers. The adjustment was attributed to lower generation
charges from energy suppliers, lower transmission charge, lower taxes
and other charges.
The country’s annual headline inflation rate recorded its highest level
in two-and-a-half years as it settled at 4.5 percent in May, providing a
signal for the central bank to tighten its key policy rates in its
upcoming June 19 meeting.
The latest unemployment data showed a slight easing in April from
year-earlier levels, but this is an incomplete picture. The reason: the
government failed to include the labor situation in Leyte, a province
badly hit by Super Typhoon Yolanda.
China’s “provocative” actions at sea may derail economic growth in the
region, Vietnamese Prime Minister Nguyen Tan Dung told political and
business leaders attending the 23rd World Economic Forum (WEF) in Manila