The median forecast was for the deficit to widen to P307.5 billion ($6.9 billion) from P298.5 billion in 2009, the current record deficit in peso . . . → Read More: Debt up and Jollibee expand]]> Asia’s largest sovereign issuer of foreign debt is expected to post a record budget deficit in 2010 after a larger-than-expected shortfall in the first quarter, a Reuters poll of 10 economists showed.

The median forecast was for the deficit to widen to P307.5 billion ($6.9 billion) from P298.5 billion in 2009, the current record deficit in peso terms.

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Government agencies in the Davao region have so far proposed close to P20 billion worth of projects to the Regional Development Council (RDC) for inclusion in the 2011 budget, an official statement at the weekend read.

The statement quoted Ma. Lourdes D. Lim, regional director of the National Economic and Development Authority (NEDA), as saying the amount could still rise since some agencies have yet to submit their proposals.

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Jollibee Foods Corp (JFC.PS), the Philippines’ largest fast-food company, said on Tuesday it will buy a majority of a noodle restaurant chain in China for about $4.4 million, part of its long-term overseas expansion plan.

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