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 a reception at the Spanish Embassy. She also attended a state dinner in her honour at Malacañan Palace hosted by President Benigno Aquino III. Also during her visit in the former colony of her country, Queen Sofia expressed appreciation to Aquino for the country’s effort to reintroduce the Spanish language in the Philippine public education system and mentioned: Philippines–Spain relations The Philippines–Spain relations (; ) is a bilateral and multilateral relations between the Philippines and Spain. The Philippines was the lone colony of the Spanish Empire in Asia for more than three centuries. Spain has an embassy in Manila, and