The Department of Foreign Affairs 6 said it will process machine-readable passports applications starting the last week of January.

DFA regional consular officer Victor Española said four additional machines are expected to arrive by next week at their office in Iloilo City .

The DFA 6 can only process around 160 applications with their single machine at present, he said.

But with the additional machines, Española said they will be able to accommodate 300 applications a day.

Arroyo orders cut in
tariff for oil imports

MANILA – President Gloria Arroyo said yesterday she will trim the tariff on petroleum imports to help ease the fallout of record-high world crude prices on the Philippines poor.

"To address the rising price of oil in the world market we will implement immediate assistance to the masses," she told a news conference.

"We will bring down the tariff on all petroleum products," she said.

Pepsico bottler lowers
indicative price in IPO

MANILA - A volatile local equities market has forced PepsiCo's bottler in the Philippines to slash its initial public offering price to attract investors, the company said yesterday.

In a statement to the Philippine Stock Exchange, the company said it had lowered the indicative price for the IPO to between P3.50 and P4.30 (8.5 and 10.5 US cents) per share from its initial pricing of P6.40.

Pepsi-Cola Products Philippines Inc. (PCPPI) said it was bringing down the price to attract investors amid a volatile equities market.

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