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Bacolod City, PhilippinesWednesday, May 16, 2012
OFW remittances
reach $1.7 Billion

Remittances from Overseas Filipino Workers coursed through banks rose in March 2012 by five percent year-on-year to reach $1.7 billion, Bangko Sentral ng Pilipinas Governor Amando Tetangco, Jr. said in a BSP press release yesterday.

The continued increase in remittance flows in March brought the first quarter level to $4.8 billion, higher by 5.4 percent than the $4.6 billion realized in the same period a year ago.

Remittances from land-based ($3.7 billion) and sea-based ($1.1 billion) workers during the quarter registered increases of 2.7 percent and 15.3 percent, respectively, the press release said.

LPG prices down P11/tank

Independent refillers grouped under the Liquefied Petroleum Gas Marketers’ Association are rolling back their prices of the cooking fuel by P1 per kilogram effective midnight, a press release from the group said yesterday.

“Due to the sustained drop in the international contract price of LPG, independent refillers are reducing prices by P1 per kilo, or by P11 per 11-kilogram cylinder,” Rep. Arnel Ty, who represents the LPG-MA sectoral party in Congress, said in the press release.

The recommended retail price of independent refillers is now down to a range of P635 to P640 per cylinder, from P650 to P655, Ty said.

TUCP urges Aquino not to sell
power barges to private sector

The Trade Union Congress Party called on President Benigno Simeon Aquino III to state categorically that he will no longer sell the four remaining power barges owned by the National Power Corporation, a TUCP press release said..

The bidding for these power barges is to be done by the Power Sector Assets and Liabilities Management at their offices today.

“The president can still reverse this disastrous course and ensure that we have emergency supply,” TUCP Representative Raymond Democrito Mendoza said.

Business
ButtonOFW remittances reach $1.7 Billion
ButtonLPG prices down P11/tank
ButtonTUCP urges Aquino not to sell power barges to private sector

ButtonBank lending up 18.7%
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Globe joins ‘Startup Weekend’ in Cebu
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