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The national government’s annual earnings from the Malampaya Deep Water Gas-to-Power Project could be utilized to enable the state-owned Philippine National Oil Co. (PNOC) to develop new critical coastal petroleum storage facilities, House Minority Leader Nonoy Libanan said. “Following the successful drilling of two new gas wells by the Malampaya consortium, we have very high […]
Senator Chiz Escudero has called for more “earning guarantees” in the Maharlika Fund bill, which would allow the sovereign fund to surpass the 6% income threshold that two state-owned banks presently earn from their investments. Without “benchmark in yields,” Escudero warned that the billions the Land Bank of the Philippines (LBP) and the Development Bank […]
The state-run Social Security System (SSS) is bound to be among the topmost beneficiaries of the country’s revitalized mining sector, a senior member of Congress said on Sunday. “The SSS has a substantial equity investment in one of the largest new mining ventures in the country,” Makati City Rep. Luis Campos Jr said in a […]
Senator Grace Poe asked the Anti-Money Laundering Council (AMLC) to give the Senate a written report on the efforts and challenges it is facing in a bid to strike the Philippines off the Financial Action Task Force’s (FATF) grey list. “We expect a substantial update from the AMLC on the concrete steps and direction we […]