As the unemployment rate in the country continues to rise, the Makati
Business Club (MBC) pushed for amending economic provisions of the
Constitution to “improve the inflow” of investments in the country.
Four local groups have expressed interest in the 153.1-megawatt (MW)
Naga Power Plant complex after the state-run Power Sector Assets and
Liabilities Management Corp. (Psalm) held the third round of bidding
earlier this month, Psalm president and chief executive officer Emmanuel
Ledesma Jr. said on Friday.
THE money sent home by overseas Filipino workers (OFWs) in 2013 hit a
record $25.1 billion, boosted by the unprecedented remittances of $2.4
billion in December, according to the Bangko Sentral ng Pilipinas (BSP).
SUBIC BAY FREEPORT: The Kingdom of Bahrain will build $1.6m worth of
infrastructure in the form of 500 housing units for Tacloban and two
vocational complexes for youth and sports in Tacloban and Subic Bay
Freeport, an official said yesterday.
While the Philippine economy managed to register a 7.2-percent gross
domestic product (GDP) growth for the whole of 2013, there are signs
that an economic slowdown may be happening soon, as shown by the
devaluation of the peso, and massive outflow of foreign investment
portfolio in the first month of the year, among others.