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The national government’s fiscal balance swung back to a deficit in May as public spending outpaced revenue collections, the Bureau of the Treasury reported yesterday.

Investment banks are divided about the next move of the Bangko Sentral ng Pilipinas after it kept interest rates steady in the first half despite a series of rate hikes by the US Federal Reserve.

The Chamber of Automotive Manufacturers of the Philippines Inc. will push for lower excise tax rates and wider price brackets in the Senate as the industry remains dissatisfied with the approved version in the House of Representatives.


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 Share prices tumbled anew as foreign selling dominated trade on the back of lingering concerns over supply glut in the global crude market.

Despite the expected arrival of approved imports, the  National Food Authority is still short of almost 600,000 metric tons of rice for it to meet its rice buffer stock requirement for the lean moths.

Vista Land & Lifescapes, Inc. expects its gross floor area to reach as much as 1.5 million square meters next year as it steadily expands its footprint nationwide, its top official said.

The Department of Information and Communications Technology is planning to tap a third party firm and the assistance of the US and Japanese governments for the feasibility study to be undertaken for the implementation of the National Broadband Plan.

Robinsons Land Corp., is bringing the Dusit brand to Cebu through a hotel management agreement with Thailand-based Dusit International.

The US deficit in the broadest measure of trade rose to the highest level in a year during the first quarter.

The Bureau of Internal Revenue has charged four companies for alleged willful failure to pay taxes amounting to a combined P275.2 million.

West Zone concessionaire Maynilad Water Services Inc. is investing P21 billion for the construction of four sewage treatment plants in the next five years as part of its wastewater management program.

 The Department of Energy is bent on the privatization of the 650-megawatt Malaya Thermal Power Plant in Rizal within the year in order to convert it into a liquefied natural gas or a coal-fired power facility.

The government has trimmed real property taxes of facilities of Independent Power Producers under build-operate-transfer contracts with government-owned or controlled corporations.


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