P/$ rate stands at P42.615/$1

MANILA, Philippines - The peso exchange rate stands at P42.615 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P42.655.

Sustained inflows to support Peso

The Bangko Sentral ng Pilipinas (BSP) expects sustained foreign-currency inflows will continue to support the peso and recent gains have been ''broadly in line'' with other currencies in the region, BSP Governor Amando Tetangco said.

''The positive assessment by credit rating agencies with respect to the resilience of Philippine banks and continued stable macro environment have also partly supported the peso,'' Tetangco said in an e-mail.

''The Philippines continues to present a good value proposition to investors.'' Recent moves in the peso weren't excessive, Tetangco said. The local currency rose the most in more than two weeks. (Bloomberg)

Gov't public spending to accelerate

Philippine public spending and investment in infrastructure and capital outlay will accelerate this year, Economic Planning Secretary Cayetano Paderanga said in a speech late yesterday in Manila.

Private consumption in the property sector will remain robust while services and manufacturing will continue to grow, he said before a group of business and finance reporters. (Bloomberg)

Israel-R.P. seeks more trade

The Israel Chamber of Commerce of the Philippines (ICCP) and the Department of Trade and Industry seek to increase bilateral trade and opportunities by holding a forum on trade and investment opportunities.ICCP is the main link for Israeli nationals in forming business relations with local businessmen. Its initiatives focus on research and networking activities for its members and affiliated companies, government agencies, chambers and associations. (BCM)

CDO'S Food nutrition program cited

Food manufacturer CDO-Foodsphere Inc. has been cited by the Malvar town of Batangas province for having helped improved its ranking in terms of the nutritional status of its residents through the company's supplemental feeding program.

From being the town with the second highest incidence of malnutrition among 31 municipalities and four cities in Batangas in 2010, Malvar's ranking improved to 8th place in 2011.

''Hopefully, we would no longer be included in the list of ten Batangas towns with highest incidence of malnutrition this year,'' said Malvar Municipal Health Officer Sabina Vanguardia.