Philippines

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The Philippines' robust economy continues to perform well achieving a GDP growth of 6.6% in the third quarter of this year.
The Philippine National Oil Company announced on November 21 that Red Vulcan Holdings was the top bidder for the government's remaining 60% share of the geothermal energy producer, PNOC-Energy Development Corporation.
This month the supreme court made a final ruling upholding its decision to prohibit the importation of used motor vehicles.
Demand for biodiesel in the Philippines is on the rise since a regulation requiring that a proportion of the environmentally friendly product be blended into the country's fuel supply came into effect six months ago.
Up four spots from last year, the Philippines ranked 71st this year in the World Economic Forum's annual Global Competitiveness Index, released on November 1.
Two major investment projects are underway to attract visitors to the Philippines. A massive aquarium and adjoining commercial establishments as well as a a Las Vegas-style gaming and entertainment complex iare being built on the edge of Manila Bay.

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