Prices of “B” or domestic sugar in Negros and Panay mill districts dropped this week, but still remained above P1,000 per Lkg, data of the Sugar Master Plan Foundation show.

At the January 22 bidding, prices ranged between P1,010.18 and P1,055.22 from last week’s P1,025.18 to P1,075.  BUSCO Sugar Milling Company of Bukidnon was at P1,010 the previous week.

This week, the Binalbagan-Isabela Sugar Company disposed its stocks at P1,015.80 (high) and P1,013 (low); Central Azucarera de la Carlota, P1,020; Hawaiian-Philippine Company, P1,025;

BSP probe on status
of rural banks sought

The Bangko Sentral ng Pilipinas has been asked by a legislator to assess the status of all rural banks to ensure the protection of both the depositors and the country's banking system.

The call came in the wake of the closure of several rural banks last December, particularly those under the Legacy Group.

Aurora Rep. Juan Edgardo Angara said the BSP should first approve the activities of these banks before they are issued a license to operate.

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