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Monday, 05 May 2008
An opposition senator on Monday said that he will file bill calling for the scrapping of the 12 percent value added tax (EVAT) imposed on petroleum products. Escudero made the statement during his visit at the Land Transportation Franchising and Regulatory Board (LTFRB) headquarters in East Avenue, Quezon City where he was the flag-raising ceremony guest.
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Monday, 05 May 2008
Bangko Sentral ng Pilipinas (BSP) ASIAN FINANCE ministers on Sunday agreed to pool at least $80 billion in foreign exchange reserves as part of a scheme designed to avert a repeat of the 1997 regional crisis. Ministers of the 10 Association of Southeast Asian Nations (ASEAN) member-countries, along with their counterparts from China, Japan and South Korea, announced the fund’s creation following talks on the sidelines of an Asian Development Bank annual meeting in Spain.
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Monday, 05 May 2008
Local fuel prices will continue to increase, with oil companies on Monday announcing that they still had to recover at least P6 per liter in the coming weeks. Industry executives, speaking at a meeting called by the Energy department, defended the latest price hike of P1 per liter as having been prompted by continuing world crude price increases. The weekend price hike, the ninth so far this year, broke a string of P0.50 per liter increases and put gasoline and diesel prices at an average of some P48 and P41 per liter, respectively.
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