Monopolies in the Philippines (1965–1986) granted PD 1468, which declared the money as private and prevented any government audit. Cojuangco bought San Miguel Corporation (SMC) with the funds from the Coco levy. SMC is one of the oldest and largest beer, food, packaging and livestock conglomerate in the Philippines. President Marcos gave favors to SMC once Cojuangco became its head. Taxes were raised for liquor and cigarettes in January 1986, but excise taxes on beer went down. Beer is one of the main products of SMC, which helped the corporation save as much as $40 million that year. When Marcos was President, he often wrote
Philippines–Spain relations 2 Filipina domestic workers sentenced to death in Kuwait and the United Arab Emirates. Former Philippine President Gloria Macapagal-Arroyo concluded her second state visit in Spain in July 2006, bringing back millions of dollars of Spanish investments, particularly in Tourism and Information Technology Spanish Ambassador to the Philippines Jorge Domecq told the reporters that the "Philippines is the only country in Asia to receive more aid and development assistance from Spain than any other Asian country". He added that the Philippines remains a priority of the Spanish aid in development efforts and partnerships with the European Union, even despite budget