MANILA -– Demand for Filipino workers continue to boost remittance inflows and helped sustain the higher-than-target growth in the first two months of 2012.

Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. yesterday said inflows from overseas Filipinos rose by 5.8 percent year-on-year last February and by 5.6 percent year-on-year in the first two months this year.

This year, monetary officials eye a five percent growth for remittances.

Retailers group cuts LPG
prices by P1/kilo

MANILA – Independent retailers of liquefied petroleum gas yesterday slashed product prices by P1 per kilo.

LPG Marketers Association Party-List Representative Arnel Ty said that the P1 rollback would translate into a P11-markdown per tank since a regular cylinder of LPG weighs 11 kilos.

“We have a P1 per kilo LPG rollback today and some members will start implementing it. The others will do so after a few days,” said Ty.

Peso closes weaker
against US greenback

MANILA – The Philippine peso closed slightly lower yesterday after the dollar strengthened against the euro on account of the news about the jump in Spain's borrowing cost.

The local unit shed P0.115 after ending Monday at 42.775 from last Friday's 42.66 closing.

Its performance during the day got a hint early on after it opened at 42.75, weaker than its 42.62 start last Friday.

Strongest level for the day stood at 42.70 while weakest is at 42.81.