MANILA -- Moody's Analytics is projecting a recovery in Philippine government's spending in the second quarter of 2015 and considered it as among the drivers that will help lift growth to 6.8 percent.
In a report, the economic research and analysis division of Moody's Corporation, said delayed implementation of the state's stimulus program "likely lifted investment and household consumption."
"This boost will continue through the second half of 2015," it said.
Oil firms may slay prices
MANILA – Oil firms are likely to implement another round of rollbacks next week, said one of the industry players yesterday.
”It's rollback again. 70 centavos (per liter) for gasoline and 25 centavos (per liter) for diesel,” Eastern Petroleum chairman and chief executive officer (CEO) Fernando Martinez told PNA in a text message yesterday.
According to the Department of Energy's (DOE's) oil price monitor, the current prices of oil firms for diesel are Php 23.85-27.20 per liter in Metro Manila. It has a common price of Php 25.05 per liter.
NGCP ready for impact of ‘Ineng'
MANILA –- The National Grid Corporation of the Philippines (NGCP) yesterday assured its readiness for the impact of typhoon "Ineng."
In a statement, the NGCP said it has undertaken all necessary preparations and precautions to minimize the impact of the typhoon on transmission operations and facilities.
The transmission company added it has reliable communications equipment, hardware materials and other necessary supplies on hand which will be used for facility repairs.