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The Bangko Sentral ng Pilipinas said monetary authorities remain watchful of flow reversals due to potential forces that could dampen the global growth momentum and spill over to the Philippine economy.

The Association of Southeast Asian Nations has renewed for the sixth time the $2 billion in short-term foreign exchange liquidity support for member countries experiencing balance of payments difficulties.

The stock market weakened yesterday due to technical correction, pushing the main composite index 66.42 points lower at 8,420.95. The broader All Shares gauge was also lower by 36.68 points to settle at 4,913.79.

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The country’s balance of payments position recorded a modest surplus in September after four consecutive months of deficit, the Bangko Sentral ng Pilipinas reported yesterday.

Del Monte Pacific Ltd, listed in both the Singapore and Philippine stock exchanges, is raising $160 million from a second tranche of its dollar-denominated shares.

The National Transmission Corp. is pressing the Energy Regulatory Commission to act on its petitions as it still reels from over P7-billion backlog in payments to renewable energy developers under the feed-in tariff system, its top official said.

The Bureau of Internal Revenue has confiscated 480 mastercases of cigarettes without tax stamps during a raid in Nueva Ecija.

The Department of Trade and Industry is studying the grant of incentives to startup companies and investors in line with efforts to create startup ecosystem.

Ports in Manila are ready to handle cargoes coming in for the Christmas season, the Philippine Ports Authority said.

The Philippine Chamber of Commerce and Industry wants government to fasttrack the presidential proclamation of economic zone applications already approved by the Philippine Economic Zone Authority as these has caused some investors to hold back on their planned investments.

Free irrigation may have limits starting next year as the National Irrigation Administration starts to implement the adjustments made by Congress.

The Philippines is proposing the establishment of a network of marine protected areas in the ASEAN region in a bid to safeguard migratory species and habitats critical to their survival.

The Philippines has teamed up with its Southeast Asian neighbors to further promote insurance for catastrophic events and help communities across the region improve their resilience against natural disasters, the Department of Finance said.

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