Business

Expect more Philippines-India collaboration, says Arroyo

MANILA — President Gloria Macapagal-Arroyo said last night there are boundless opportunities and potential for more collaboration between the Philippines and India which is on the verge of becoming one of the top economies in the world.

Speaking at the membership meeting of the Indian Chamber of Commerce Philippines at the Hotel Intercontinental in Makati City, the President described India’s growth and huge market potential as a positive development that could further propel the growth of the Philippines and other Asian countries.
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Philippines hails Texas Instrument expansion project

MANILA — President Gloria Macapagal-Arroyo hailed today the move of Texas Instruments Inc. (TI), the world leader in digital signal processing and analog technologies, in choosing the Philippines, specifically the Clark Freeport Zone, as the site of its $1-billion expansion project that would create some 3,000 new jobs for the Filipino people.
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Philippines’s Arroyo signs EO providing incentives to new Clark Zone locators

MANILA — In a move to further promote the Clark Freeport Zone (CFZ) as an economic haven in the Asia ? Pacific region, President Gloria Macapagal-Arroyo has issued an executive order granting tax and duty incentives to “duly registered business enterprises that will operate in special economic zones to be created by proclamation inside the CFZ.”
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US trade report puts Philippines on ‘lower level watch list’

MANILA — The Office of the United States Trade Representative (USTR) released the Special 301 Report, placing the Philippines and 29 other trading partners on the ?lower level watch list?. After staying on the priority watch list of the report for five successive years since 2001, the Philippines was relegated to the ordinary watch list in 2006.

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Philippines Senator Slams ‘Inept’ Napocor Execs Over Coal

MANILA — Senate Minority Leader Aquilino Q. Pimentel, Jr.
(PDP-Laban) scored top officials of the state-owned
National Power Corporation (Napocor) for their failure
to stock up enough coal to meet higher fuel demand
power generation during the summer months when its
hydroelectric plants are shut down due to low water
levels in dams, lakes and rivers.
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