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By Alena Mae S. Flores
Petron Corp., the larger of the country’s two oil refiners, posted a bigger-than-estimated loss of P3.9 billion in 2008 due to volatile crude prices.
RP readies single Customs window system
By Joyce Pangco Pañares
BANGKOK—The Philippines will fully implement by the middle of the year a national single window customs transaction scheme that will facilitate a seamless flow of goods among member-countries of the Association of Southeast Asian Nations, Asean deputy secretary general Sundram Pushpanathan said.
Citibank sees wider budget gap, weak peso
By Eileen A. Mencias
Citibank sees the Philippines’ budget deficit widening this year to P197 billion and the peso weakening to 49 to 50 against the US dollar due to the poor macroeconomic environment potential business failures and reduced corporate income tax.
January airline passenger traffic fell 5.6%
By Roderick T. dela Cruz
International air passenger movement slowed 5.6 percent year-on-year in January, marking the fifth straight month of contraction since the global financial crisis affected tourist spending across countries.
Retirement agency draws $38.2m worth of deposits
The Philippines generated $38.2 million,, or P1.8 billion from the investment deposits made by new foreign retirees in the country last year.
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