It's the first arms shipment to Israel to be revealed since the administration put another arms transfer, consisting of 3,500 bombs of up to 2,000 pounds each, on hold this month. The Biden administration, citing concern for civilian casualties in Gaza, has said it paused that bomb transfer to keep Israel from using those particular munitions in its offensive in the crowded southern Gaza city of Rafah.
The package disclosed Tuesday includes about $700 million for tank ammunition, $500 million in tactical vehicles and $60 million in mortar rounds, the congressional aides said.
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DoubleDragon raising P10 B from issuance of retail bonds
DoubleDragon Corp., the listed developer chaired by Edgar “Injap” Sia II, is aiming to raise as much as P10 billion from the issuance of retail bonds.
New SSS savings scheme eyes 7.2% annual returns
State-run pension fund Social Security System (SSS) has started a new savings scheme projected to yield 7.2 percent annually as it moves to encourage members to boost their retirement fund.
Cebu Pacific bets on expansion in new NAIA
Low-cost carrier Cebu Pacific has started relaying to San Miguel Corp. (SMC) possible reforms that can be applied to the Ninoy Aquino International Airport (NAIA) to improve accessibility.
AboitizPower exec rues lack of R&D funding for decarbonization
The country needs funding and support to conduct its own research and development to explore future decarbonization technologies, an Aboitiz Power Corp. official said.
AsPac IPO scene off to slow start
Southeast Asia’s initial public offering (IPO) scene was tepid at the early part of 2024 amid concerns on high interest rates and inflationary pressures, a report by Ernst & Young Global Ltd. showed.
Aquaculture to drive up Phl fish harvest, says FAO
The country’s fisheries production is projected to rise by 12 percent to almost 2.9 million metric tons (MT) in 2032 on the back of higher aquaculture output, the United Nations’ Food and Agriculture Organization (FAO) said.
Stocks snap rally on uncertainty over Fed rate cut
The stock market failed to carry over its momentum from last week, opening a shortened trading week in negative territory as investors opted to take profits.
NEDA defends rice tariff cut
The National Economic and Development Authority (NEDA) yesterday defended the recent government move to cut the tariff on imported rice, which has been opposed by farmers' groups, saying this is necessary to dampen the impact of rising world market prices of the grain on domestic prices.
FDI inflows soar to $2.97 B in Q1
The inflow of foreign direct investments (FDI) went up by 23.1 percent to $686 million in March, bringing the total in the first three months to $2.97 billion or 42.1 percent higher than in the comparable period a year ago, data from the Bangko Sentral ng Pilipinas (BSP) showed.
MVP Group to air Paris Olympics action
In service to flag and country, the MVP Group’s telecommunication and media arms in Cignal TV, Smart, PLDT, Meralco, mWell and MediaQuest are joining forces in a commitment to deliver straight to Filipino sports fans the showing and exploits of Filipino athletes in the Paris Olympics.
