Philippine Asian News Today Vol 19 No 15 | Page 12

PNT Foreign Exchange $ 1.00 Cdn = P40.20 Php
12 BUSINESS NEWS PHILIPPINE ASIAN NEWS TODAY August 1- 20 , 2017

The Commemorative $ 10 Bill : Depicting the Beauty and

Breadth of Canada

The Canada 150 bank note , which marks the 150th anniversary of Confederation , began circulating earlier this spring , before the July 1st celebrations , when Canadians from coast to coast to coast waved the maple leaf in honour of this great nation .
Maple leaves are well represented on the front of this commemorative note . But flip it over to see the rugged splendour of Canada in five images on the back that show different regions of the country and depict the beauty and breadth of our land .
The image of the West Coast shows The Lions or Twin Sisters , majestic mountain peaks that overlook Vancouver , British Columbia . They are part of the vast Coast Mountains that stretch 1,600 kilometres from Vancouver to the Yukon . The name The Lions was given by John Hamilton Gray , one of the Fathers of Confederation . The local Squamish people know the peaks as Ch ’ ich ’ iyúy Elxwíkn , or the Twin Sisters .
The peso hit an 11- year low of P51.08 to the US dollar on Friday but it was no cause for worry , according to the central bank chief .
“ We ’ re constantly monitoring peso development for excessive short-term volatility ,” Bangko Sentral ng Pilipinas ( BSP ) Governor Nestor A .
6th series article
The view of these peaks shows Capilano Lake in the foreground , named after the supreme chief of the Squamish peoples .
For the Prairie provinces , the image is of stalks of wheat ripening on a family farm outside Regina , Saskatchewan . Wheat is one of the most important cultivated crops in all of Canada . The bulk of Canadian wheat is grown in the Prairie provinces of Western Canada : Saskatchewan is the largest producer , followed by Alberta and Manitoba .
The landscape representing Central Canada shows a forest on the bank of the Kipawa River , which ripples across the ancient rock of the Canadian Shield in Parc national d ’ Opémican in Quebec . Stretching from northern Alberta to Newfoundland and Labrador and from central Ontario to the Northwest Territories and Nunavut , the Shield covers 4.8 million square kilometres , roughly half the total land
Espenilla Jr . said Friday . They specially watch peso movements that are “ not consistent with underlying economic fundamentals and take appropriate action when necessary .”
“ We recognize that the market is also often self-correcting ,” Espenilla added .
The peso opened area of Canada .
For the East Coast landscape , the Atlantic Ocean meets the rocky coast of Cape Bonavista in Newfoundland and Labrador . The nearby town of Bonavista is one of the earliest European communities in North America . The Cape has historical importance as a possible landing site of John Cabot , who sailed to North America in 1497 . Bonavista ’ s name is attributed to Cabot , who is said to have exclaimed , “ Oh , buona vista ” in his native Italian upon sighting land . This translates to “ Oh happy sight .”
Finally , the North is depicted with the northern lights dancing above Canada ’ s largest national park , Wood Buffalo . This incredible natural preserve is one of the largest national parks in the world , straddling the boundary between Alberta and the Northwest Territories . Designated by the Royal Astronomical Society of Canada as the world ’ s largest
higher at P50.90 from Thursday ’ s closing of P50.79 .
Citi managing director Johanna Chua , head of Asia Pacific economic and market analysis , said they think the peso will close at P51.1 :$ 1 this year and that the current level is just a natural adjustment , a reaction of global and

PNT Foreign Exchange $ 1.00 Cdn = P40.20 Php

$ 1.00 US = P 51.17 € 1.00 EUR = P 59.03 ₤ 1.00 GBP = P 60.30 D1.00 BHD = P 135.69 R1.00 SAR = P 13.65 ¥ 1.00 JPY = P 0.46

dark sky preserve in 2013 , Wood Buffalo is one of the most ideal places on Earth to see the northern lights .
These landscapes represent a land as diverse as its people . The landscape of Canada has been , and will forever be , where our story unfolds . So whether you ’ re in Whitehorse , St . John ’ s , or anywhere in between , ask your bank teller about getting this special $ 10 note with its

Peso peaks at P51 to the US dollar

regional foreign exchange or FX movements .
A number of countries have weaker currencies , said Chua . “ Weaker exchange is a natural buffer ( and we often see ) the BSP talking sanguine about the weaker currency .” In the next months , she said their “ bias and expectation of peso-dollar dollar wallet-sized image of our vast country .
Visit www . b a n k o f c a n a d a . c a / banknote150 to learn more about the design and security features of the Canada 150 note . Follow the Bank of Canada on Twitter (@ bankofcanada ) for the latest news about this special note marking the 150th anniversary of Confederation .
exchange ( is it ) will head higher .” The bank ’ s P51.1 forecast is good for six to 12 months .
Metropolitan Bank and Trust Co . research group expects the peso to range at P50 to P50.95 this week . ( Lee Chipongian , mb )
The tax and customs bureaus grew their collections in July but still fell short of targets , preliminary Finance department data showed .
The Bureau of Internal Revenue ( BIR ) netted P134.18 billion , up 14 percent from a year earlier and short of the month ’ s P134.72-billion goal .
Finance Assistant Secretary Mark Dennis Joven said July ’ s collections

BIR , BoC miss July collection targets

already included cigarette company Mighty Corp .’ s P3.44-billion initial payment for its tax liabilities .
Year to date collections rose to P987.79 billion , below the target of about P1.39 trillion .
The BIR has been directed to collect a total of P1.82 trillion this year .
The Bureau of Customs , meanwhile ( BoC ) collected P34.82 billion in duties and taxes in July .
This was up 12.3 percent from a year ago but missed the July target of P39.18 billion .
Year-to-date collections of P246.98 billion also fell short of the P257.14 billion target .
For the full year , the BoC has been assigned a P468-billion revenue target .
The Finance department ’ s Joven said the below-target were not a cause of concern .
“ Actually our target on an annual basis is around 14 to 15 percent growth rate . So as far as the month of July is concerned , BIR ’ s 14 percent is quite near and BoC ’ s 12.3 percent is not too far ,” he told reporters .
To improve collections , Joven said both agencies are trying to increase voluntary compliance , revenues from which comprise 97 to 98 percent of total collections .
“ By focusing more on voluntary compliance , the bottomline effect will be catered . How do you do that exactly ? It ’ s a two-pronged approach ,” he said .
This involves going after “ big fish ” and making it easier for people to pay their taxes , Joven explained .( M . U . Caraballo , MT )
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