The Philippine government announced price cuts Friday on 97 medicines that officials say will result in at least 1 billion pesos ($21.7 million) in annual savings for Filipinos.
Philip Morris International (N.PM) yesterday announced a J-V in the Philippines that ties it up with Fortune Tobacco, a local cigarette maker owned by tycoon Lucio Tan, forming a company that will control 90% of the domestic cigarette market.
The Philippines said Tuesday it had sold 100 billion yen (1.1 billion dollars) worth of Samurai bonds to help plug a budget deficit that soared to record levels last year.
The Asian Development Bank (ADB) has signed deals with five commercial banks for expansion of its Trade Finance Facilitation Program (TFFP) in Philippines.
Three major 3G licensees- Smart Communications, Globe Telecom and Digital Mobile Philippines- will be allowed to participate in the upcoming auction for the last 3G spectrum license by Philippines’ National Telecommunications Commission (NTC).
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