INQToday: LPA approaching PH now a tropical depression

Local oil firms announce hefty rollbacks in the pump prices of petroleum products effective Tuesday, Nov. 14.

In separate advisories, the companies said they would slash the price of gasoline by P0.70 per liter and diesel by P3 per liter.

The state weather bureau says the low-pressure area nearing the Philippine area of responsibility has strengthened into a tropical depression.

Based on the 11 a.m. bulletin of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa), the tropical depression was last located 1,540 kilometers east of southeastern Mindanao, packing maximum sustained winds of 45 kilometers per hour (kph) and gustiness of 55 kph.

President Bongbong Marcos appoints Rafael D. Consing Jr. as President and Chief Executive Officer of Maharlika Investment Corporation.

Consing is the current Presidential Adviser for Investment and Economic Affairs.

Finance Secretary Benjamin Diokno says changes made in the Implementing Rules and Regulations of the Maharlika Investment Fund “are within the bounds of the law.”

He also noted that the revisions were “enhancements” to establish “a strong corporate governance structure.”

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