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Malacañang justified yesterday a higher government subsidy for government-owned and controlled corporations, saying the administration of President Aquino needs the technical expertise of these firms.

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Manila, Philippines — Finance Secretary Cesar V. Purisima on Tuesday gave the green light to his staff to launch the government's first overseas peso-denominated borrowings to take advantage of the favorable market conditions.

Amid speculations that the government will issue up to $1 billion peso global bonds as early as this week, Purisima admitted that he already instructed his staff to launch the maiden peso bonds if there is a best opportunity.

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Manila, Philippines — The Department of Trade and Industry is keeping its 22 percent exports growth goal this year, confident that exports will sustain growth amid fears of a slowdown in the electronics sector.

Bureau of Export Trade Promotion (BETP) Director Senen Perlada told reporters the Export Development Council (EDC), a private-public sector group, is going to meet end this month to finalize the draft Philippine Export Development Program (PEDP).

Full Story (mb.com.ph)