INQUIRER.net: Strong peso not good for local artists–solons

INQUIRER.net Philippine News for Filipinos

Strong peso not good for local artists–solons Dec 30th 2012, 21:03 MANILA, Philippines--Some lawmakers are worried that a stronger peso, projected to head south of P40 to the dollar next year, could further pummel the local entertainment industry already staggering from the huge taxes imposed on the box office.   Sen. Vicente Sotto III and House Minority Leader Danilo Suarez expect a bigger influx of Hollywood films and foreign concert artists next year as a stronger peso would make it more profitable for theater owners and events organizers to bring in imports in lieu of local artists.   Analysts expect the peso to soar to P39 to the dollar next year—its highest level in more than 10 years—as robust consumer demand fuels the P... Keep on reading: Strong peso not good for local artists–solons Media files: peso-dollar_inq.jpg (image/jpeg)

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